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Derivative And Credit-Related Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2023
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 June 30, 2023 and December 31, 2022. The table excludes a derivative related to the Corporation's 2008 sale of its remaining ownership of Visa shares and includes accrued interest receivable and payable.
 June 30, 2023December 31, 2022
  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$8,100 $— $— $3,150 $— $— 
Cash flow swaps - receive fixed/pay floating (b)30,350 — 50 26,600 — 50 
Derivatives used as economic hedges
Foreign exchange contracts:
Spot, forwards and swaps733 1 1 392 1 3 
Total risk management purposes39,183 1 51 30,142 1 53 
Customer-initiated and other activities
Interest rate contracts:
Caps and floors written1,097 — 26 924 — 25 
Caps and floors purchased1,097 26 — 924 25 — 
Swaps 22,440 235 571 18,450 181 569 
Total interest rate contracts24,634 261 597 20,298 206 594 
Energy contracts:
Caps and floors written3,898 2 301 4,051 — 430 
Caps and floors purchased3,898 301 2 4,051 431 — 
Swaps6,700 502 482 6,419 589 576 
Total energy contracts14,496 805 785 14,521 1,020 1,006 
Foreign exchange contracts:
Spot, forwards, options and swaps2,887 58 53 2,704 52 42 
Total customer-initiated and other activities42,017 1,124 1,435 37,523 1,278 1,642 
Total gross derivatives$81,200 1,125 1,486 $67,665 1,279 1,695 
Amounts offset in the Consolidated Balance Sheets:
Netting adjustment - Offsetting derivative assets/liabilities
(438)(438)(644)(644)
Netting adjustment - Cash collateral received/posted
(210)(15)(180)(4)
Net derivatives included in the Consolidated Balance Sheets (c)477 1,033 455 1,047 
Amounts not offset in the Consolidated Balance Sheets:
Marketable securities pledged under bilateral collateral agreements
(412)(1)(70)(202)
Net derivatives after deducting amounts not offset in the Consolidated Balance Sheets
$65 $1,032 $385 $845 
(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 in the Consolidated Balance Sheets.
(b)June 30, 2023 included $8.3 billion of forward starting swaps that will become effective on their contractual start dates in 2023 and 2024.
(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 $1 million and $2 million at June 30, 2023 and December 31, 2022, respectively.
Schedule of the 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 Comprehensive Income.
Interest on Medium- and Long-Term Debt
 Three Months Ended June 30,Six Months Ended June 30,
(in millions)2023202220232022
Total interest on medium- and long-term debt (a)$110 $12 $167 $21 
Fair value hedging relationships:
Interest rate contracts:
Hedged items79 26 120 51 
Derivatives designated as hedging instruments31 (13)47 (30)
(a) Includes the effects of hedging.
Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Cash Flow Swaps The following tables summarize the expected weighted average remaining maturity of the notional amount of risk management interest rate swaps, the weighted average interest rates associated with amounts expected to be received or paid on interest rate swap agreements, and for fair value swaps, the weighted average carrying amount of the related hedged items, as of June 30, 2023 and December 31, 2022.
Cash flow swaps - receive fixed/pay floating rate on variable-rate loans
June 30, 2023December 31, 2022
Weighted average:
   Time to maturity (in years)3.6 4.6 
   Receive rate (a)2.36 %2.35 %
   Pay rate (a), (b)5.10 4.07 
(a)Excludes forward starting swaps not effective as of the period shown. June 30, 2023 excluded $8.3 billion of forward starting swaps. December 31, 2022 excluded $4.6 billion of forward starting swaps.
(b)Variable rates paid on receive fixed swaps designated as cash flow hedges are based on one-month LIBOR, BSBY or Secured Overnight Financing Rate (SOFR) rates in effect at June 30, 2023 and December 31, 2022. Derivative contracts with maturity dates beyond the LIBOR cessation date will fall back to the daily SOFR with a spread adjustment.
Schedule Of Weighted Average Maturity And Interest Rates On Risk Management Interest Rate Swaps
Fair value swaps - receive fixed/pay floating rate on medium- and long-term debt
(dollar amounts in millions)June 30, 2023December 31, 2022
Carrying value of hedged items (a)$6,111 $3,024 
Weighted average:
   Time to maturity (in years)2.8 3.9 
   Receive rate (b)3.67 %3.52 %
   Pay rate (b), (c)5.39 4.90 
(a)Included $(188) million and $(124) million of cumulative hedging adjustments at June 30, 2023 and December 31, 2022, respectively, which included $3 million and $4 million, respectively, of hedging adjustment on a discontinued hedging relationship.
(b)Excludes forward starting swaps not effective as of the period shown. June 30, 2023 excluded $1.8 billion of forward starting swaps.
(c)Floating rates paid on receive fixed swaps designated as fair value hedges are based on one-month LIBOR or SOFR rates in effect at June 30, 2023 and December 31, 2022. 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 capital markets income, were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2023202220232022
Interest rate contracts$7 $10 $12 $19 
Energy contracts5 6 13 8 
Foreign exchange contracts14 13 28 24 
Total$26 $29 $53 $51 
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)June 30, 2023December 31, 2022
Unused commitments to extend credit:
Commercial and other$29,621 $30,800 
Bankcard, revolving credit and home equity loan commitments4,145 4,017 
Total unused commitments to extend credit$33,766 $34,817 
Standby letters of credit$3,586 $3,712 
Commercial letters of credit42 39 
Summary Of Criticized Letters Of Credit
The following table presents a summary of criticized standby and commercial letters of credit at June 30, 2023 and December 31, 2022. 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)June 30, 2023December 31, 2022
Total criticized standby and commercial letters of credit$50 $37 
As a percentage of total outstanding standby and commercial letters of credit1.4 %1.0 %