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Investment Securities (Tables)

6 Months Ended

Jun. 30, 2023

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
June 30, 2023
Investment securities available-for-sale:
U.S. Treasury securities			$	1,795					$	—					$	123					$	1,672
Residential mortgage-backed securities (a)			13,304						—						2,242						11,062
Commercial mortgage-backed securities (a)			5,252						—						571						4,681
Total investment securities available-for-sale			$	20,351					$	—					$	2,936					$	17,415
December 31, 2022
Investment securities available-for-sale:
U.S. Treasury securities			$	2,810					$	—					$	146					$	2,664
Residential mortgage-backed securities (a)			13,983						—						2,328						11,655
Commercial mortgage-backed securities (a)			5,252						—						559						4,693
Total investment securities available-for-sale			$	22,045					$	—					$	3,033					$	19,012

(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 June 30, 2023 and December 31, 2022 follows:

			Less than 12 Months												12 Months or more												Total
(in millions)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
June 30, 2023
U.S. Treasury securities			$	—					$	—					$	1,672					$	123					$	1,672					$	123
Residential mortgage-backed securities (a)			537						41						10,525						2,201						11,062						2,242
Commercial mortgage-backed securities (a)			2,538						205						2,143						366						4,681						571
Total temporarily impaired securities			$	3,075					$	246					$	14,340					$	2,690					$	17,415					$	2,936
December 31, 2022
U.S. Treasury securities			$	996					$	5					$	1,668					$	141					$	2,664					$	146
Residential mortgage-backed securities (a)			3,500						361						8,153						1,967						11,653						2,328
Commercial mortgage-backed securities (a)			4,008						405						685						154						4,693						559
Total temporarily impaired securities			$	8,504					$	771					$	10,506					$	2,262					$	19,010					$	3,033

(a)Issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises.

Contractual Maturity Distribution Of Debt Securities

The following table summarizes the amortized cost and fair values of investment securities by contractual maturity. Securities with multiple maturity dates are classified in the period of final maturity. The actual cash flows of mortgage-backed securities may differ as borrowers of the underlying loans may exercise prepayment options. 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)
June 30, 2023			Amortized Cost						Fair Value
Contractual maturity
Within one year			$	356					$	344
After one year through five years			1,681						1,559
After five years through ten years			5,427						4,848
After ten years			12,887						10,664
Total investment securities			$	20,351					$	17,415

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479106/326-30-50-4

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