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Derivative And Credit-Related Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments The following table presents the composition of the Corporation’s derivative instruments held or issued for risk management purposes or in connection with customer-initiated and other activities at December 31, 2021 and 2020. The table excludes a derivative related to the Corporation's 2008 sale of its remaining ownership of Visa shares.
 December 31, 2021December 31, 2020
  Fair Value Fair Value
(in millions)Notional/
Contract
Amount (a)		Gross Derivative AssetsGross Derivative LiabilitiesNotional/
Contract
Amount (a)		Gross Derivative AssetsGross Derivative Liabilities
Risk management purposes
Derivatives designated as hedging instruments
Interest rate contracts:
Fair value swaps - receive fixed/pay floating$2,650 $— $— $2,650 $— $— 
Cash flow swaps - receive fixed/
pay floating (b)
8,050 — — 5,550 — — 
Derivatives used as economic hedges
Foreign exchange contracts:
Spot, forwards and swaps452 — 2 442 1 4 
Total risk management purposes11,152 — 2 8,642 1 4 
Customer-initiated and other activities
Interest rate contracts:
Caps and floors written809 — 3 869 — — 
Caps and floors purchased809 3 — 869 — — 
Swaps19,382 236 66 19,783 531 61 
Total interest rate contracts21,000 239 69 21,521 531 61 
Energy contracts:
Caps and floors written1,779 — 203 503 1 33 
Caps and floors purchased1,779 204 — 503 33 1 
Swaps4,212 466 459 2,115 117 115 
Total energy contracts7,770 670 662 3,121 151 149 
Foreign exchange contracts:
Spot, forwards, options and swaps1,716 19 14 1,901 17 15 
Total customer-initiated and other activities30,486 928 745 26,543 699 225 
Total gross derivatives$41,638 928 747 $35,185 700 229 
Amounts offset in the Consolidated Balance Sheets:
Netting adjustment - Offsetting derivative assets/liabilities(187)(187)(83)(83)
Netting adjustment - Cash collateral received/posted(15)(452)(17)(48)
Net derivatives included in the Consolidated Balance Sheets (c)726 108 600 98 
Amounts not offset in the Consolidated Balance Sheets:
Marketable securities pledged under bilateral collateral agreements— (52)— (42)
Net derivatives after deducting amounts not offset in the Consolidated Balance Sheets$726 $56 $600 $56 
(a)Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected on the Consolidated Balance Sheets.
(b)December 31, 2021 included $3.0 billion of forward starting swaps that will become effective on their contractual start dates in 2022 and 2023.
(c)Net derivative assets are included in accrued income and other assets and net derivative liabilities are included in accrued expenses and other liabilities on the Consolidated Balance Sheets. Included in the fair value of net derivative assets and net derivative liabilities are credit valuation adjustments reflecting counterparty credit risk and credit risk of the Corporation. The fair value of net derivative assets included credit valuation adjustments for counterparty credit risk of $9 million and $27 million at December 31, 2021 and 2020, respectively.
Schedule of Effects of Fair Value Hedging on the Consolidated Statements of Comprehensive Income
The following table details the effects of fair value hedging on the Consolidated Statements of Income.
(in millions)Interest on Medium- and Long-Term Debt
Years Ended December 31202120202019
Total interest on medium-and long-term debt (a)$35 $80 $197 
Fair value hedging relationships:
Interest rate contracts:
Hedged items102 109 110 
Derivatives designated as hedging instruments(68)(51)(4)
(a)Includes the effects of hedging.
Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Cash Flow Swaps
The following table summarizes the expected weighted average remaining maturity of the notional amount of risk management interest rate swaps, the carrying amount of the related hedged items and the weighted average interest rates associated with amounts expected to be received or paid on interest rate swap agreements as of December 31, 2021 and 2020.
Cash flow swaps - receive fixed/pay floating rate on variable-rate loans
(dollar amounts in millions)December 31, 2021December 31, 2020
Weighted average:
   Time to maturity (in years)2.1 2.3 
   Receive rate (a)1.84 %1.87 %
   Pay rate (a), (b)0.10 0.15 
(a)December 31, 2021 excludes $3.0 billion of forward starting receive fixed swaps that will become effective on their contractual start dates in 2022 and 2023.
(b)Variable rates paid on receive fixed swaps designated as cash flow hedges are based on one-month LIBOR rates in effect at December 31, 2021 and 2020. Derivative contracts with maturity dates beyond the LIBOR cessation date will fall back to the daily Secured Overnight Financing Rate (SOFR) with a spread adjustment.
Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Fair Value Swaps
Fair value swaps - receive fixed/pay floating rate on medium- and long-term debt
(dollar amounts in millions)December 31, 2021December 31, 2020
Carrying value of hedged items (a)2,796 2,928 
Weighted average:
   Time to maturity (in years)3.6 4.6 
   Receive rate3.68 %3.68 %
   Pay rate (b)1.08 1.16 
(a)Included $145 million and $279 million of cumulative hedging adjustments at December 31, 2021 and 2020, respectively, which included $5 million and $6 million, respectively, of hedging adjustment on a discontinued hedging relationship.
(b)Floating rates paid on receive fixed swaps designated as fair value hedges are based on one-month LIBOR rates in effect at December 31, 2021 and 2020. Derivative contracts with maturity dates beyond the LIBOR cessation date will fall back to the daily SOFR with a spread adjustment.
Schedule Of Net Gains Recognized In Income On Customer-Initiated Derivatives The net gains recognized in income on customer-initiated derivative instruments, net of the impact of offsetting positions included in derivative income, were as follows:
Years Ended December 31,
(in millions)202120202019
Interest rate contracts$36 $26 $27 
Energy contracts18 1 5 
Foreign exchange contracts45 40 44 
Total$99 $67 $76 
Schedule Of Financial Instruments With Off-Balance Sheet Credit Risk The Corporation’s credit risk associated with these instruments is represented by the contractual amounts indicated in the following table.
(in millions)
December 3120212020
Unused commitments to extend credit:
Commercial and other$25,910 $23,443 
Bankcard, revolving check credit and home equity loan commitments3,554 3,297 
Total unused commitments to extend credit$29,464 $26,740 
Standby letters of credit$3,378 $3,273 
Commercial letters of credit44 30 
Summary Of Criticized Letters Of Credit
The following table presents a summary of criticized standby and commercial letters of credit at December 31, 2021 and 2020. The Corporation's criticized list is consistent with the Special Mention, Substandard and Doubtful categories defined by regulatory authorities. The Corporation manages credit risk through underwriting, periodically reviewing and approving its credit exposures using Board committee approved credit policies and guidelines.
(dollar amounts in millions)December 31, 2021December 31, 2020
Total criticized standby and commercial letters of credit$37 $73 
As a percentage of total outstanding standby and commercial letters of credit1.1 %2.2 %