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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2024

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
September 30, 2024
Investment securities available-for-sale:
U.S. Treasury securities			$	1,197					$	—					$	28					$	1,169
Residential mortgage-backed securities (a)			11,677						—						1,852						9,825
Commercial mortgage-backed securities (a)			5,265						—						373						4,892
Total investment securities available-for-sale			$	18,139					$	—					$	2,253					$	15,886
December 31, 2023
Investment securities available-for-sale:
U.S. Treasury securities			$	1,681					$	—					$	76					$	1,605
Residential mortgage-backed securities (a)			12,607						—						2,088						10,519
Commercial mortgage-backed securities (a)			5,253						—						508						4,745
Total investment securities available-for-sale			$	19,541					$	—					$	2,672					$	16,869

(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 September 30, 2024 and December 31, 2023 follows:

			Less than 12 Months												12 Months or more												Total
(in millions, except securities count)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses			Count
September 30, 2024
U.S. Treasury securities			$	—					$	—					$	1,086					$	28					$	1,086					$	28		13
Residential mortgage-backed securities (a)			1						—						9,822						1,852						9,823						1,852			929
Commercial mortgage-backed securities (a)			—						—						4,878						373						4,878						373			252
Total temporarily impaired securities			$	1					$	—					$	15,786					$	2,253					$	15,787					$	2,253		1,194
December 31, 2023
U.S. Treasury securities			$	—					$	—					$	1,605					$	76					$	1,605					$	76		19
Residential mortgage-backed securities (a)			10						—						10,507						2,088						10,517						2,088			978
Commercial mortgage-backed securities (a)			—						—						4,745						508						4,745						508			253
Total temporarily impaired securities			$	10					$	—					$	16,857					$	2,672					$	16,867					$	2,672		1,250

(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)
September 30, 2024			Amortized Cost						Fair Value
Contractual maturity
One year or less			$	992					$	972
After one year through five years			553						531
After five years through ten years			5,149						4,783
After ten years			11,445						9,600
Total investment securities			$	18,139					$	15,886

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
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-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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