XML 56 R38.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Investment Securities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Summary Of Investment Securities | A summary of the Corporation’s investment securities follows:
(in millions) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
December 31, 2021 |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |
U.S. Treasury securities | $ | 3,010 |  |  | $ | 22 |  |  | $ | 39 |  |  | $ | 2,993 |
Residential mortgage-backed securities (a) | 13,397 |  |  | 67 |  |  | 176 |  |  | 13,288 |
Commercial mortgage-backed securities (a) | 709 |  |  | 2 |  |  | 6 |  |  | 705 |
Total investment securities available-for-sale | $ | 17,116 |  |  | $ | 91 |  |  | $ | 221 |  |  | $ | 16,986 |
December 31, 2020 |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |
U.S. Treasury securities | $ | 4,583 |  |  | $ | 76 |  |  | $ | 1 |  |  | $ | 4,658 |
Residential mortgage-backed securities (a) | 10,169 |  |  | 203 |  |  | 2 |  |  | 10,370 |
Total investment securities available-for-sale | $ | 14,752 |  |  | $ | 279 |  |  | $ | 3 |  |  | $ | 15,028 |
(a)Issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises.
Summary Of Investment Securities In Unrealized Loss Positions | A summary of the Corporation’s investment securities in an unrealized loss position as of December 31, 2021 and 2020 follows:
| Less than 12 Months |  | 12 Months or more |  | Total
(in millions) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 465 |  |  | $ | 6 |  |  | $ | 1,334 |  |  | $ | 33 |  |  | $ | 1,799 |  |  | $ | 39 |
Residential mortgage-backed securities (a) | 7,197 |  |  | 128 |  |  | 1,128 |  |  | 48 |  |  | 8,325 |  |  | 176 |
Commercial mortgage-backed securities (a) | 346 |  |  | 6 |  |  | — |  |  | — |  |  | 346 |  |  | 6 |
Total temporarily impaired securities | $ | 8,008 |  |  | $ | 140 |  |  | $ | 2,462 |  |  | $ | 81 |  |  | $ | 10,470 |  |  | $ | 221 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 1,119 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,119 |  |  | $ | 1 |
Residential mortgage-backed securities (a) | 952 |  |  | 2 |  |  | — |  |  | — |  |  | 952 |  |  | 2 |
Total temporarily impaired securities | $ | 2,071 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,071 |  |  | $ | 3 |
(a)Issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises.
Summary of Net Securities Gains (Losses) | Sales, calls and write-downs of investment securities available-for-sale, primarily from repositioning $1.0 billion of lower-yielding treasury securities in the year ended December 31, 2019, resulted in the following gains and losses recorded in net securities losses on the Consolidated Statements of Income, computed based on the adjusted cost of the specific security.
(in millions) |  |  |  |  |  |  |  |  |
Year Ended December 31 | 2021 |  | 2020 |  | 2019 |  |  |
Securities gains | $ | — |  |  | $ | 1 |  |  | $ | 1 |  |  |  |  |
Securities losses | — |  |  | (1) |  |  | (8) |  |  |  |  |
Net securities losses | $ | — |  |  | $ | — |  |  | $ | (7) |  |  |  |  |
Contractual Maturity Distribution Of Debt Securities | The following table summarizes the amortized cost and fair values of debt securities by contractual maturity. Securities with multiple maturity dates are classified in the period of final maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(in millions) |  |
December 31, 2021 | Amortized Cost |  | Fair Value |  |  |
Contractual maturity |  |  |  |  |  |
Within one year | $ | 170 |  |  | $ | 172 |  |  |  |
After one year through five years | 3,098 |  |  | 3,088 |  |  |  |
After five years through ten years | 1,290 |  |  | 1,297 |  |  |  |
After ten years | 12,558 |  |  | 12,429 |  |  |  |
Total investment securities | $ | 17,116 |  |  | $ | 16,986 |  |  |  |

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration