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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 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
December 31, 2024 |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |
U.S. Treasury securities | $ | 1,277 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1,277 |
Residential mortgage-backed securities (a) | 11,380 |  |  | — |  |  | 2,304 |  |  | 9,076 |
Commercial mortgage-backed securities (a) | 5,261 |  |  | — |  |  | 569 |  |  | 4,692 |
Total investment securities available-for-sale | $ | 17,918 |  |  | $ | 1 |  |  | $ | 2,874 |  |  | $ | 15,045 |
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 December 31, 2024 and 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
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 438 |  |  | $ | — |  |  | $ | 25 |  |  | $ | 1 |  |  | $ | 463 |  |  | $ | 1 |  | 7 |
Residential mortgage-backed securities (a) | — |  |  | — |  |  | 9,074 |  |  | 2,304 |  |  | 9,074 |  |  | 2,304 |  | 913 |
Commercial mortgage-backed securities (a) | 14 |  |  | — |  |  | 4,678 |  |  | 569 |  |  | 4,692 |  |  | 569 |  | 252 |
Total temporarily impaired securities | $ | 452 |  |  | $ | — |  |  | $ | 13,777 |  |  | $ | 2,874 |  |  | $ | 14,229 |  |  | $ | 2,874 |  | 1,172 |
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) |  |
December 31, 2024 | Amortized Cost |  | Fair Value |  |  |
Contractual maturity |  |  |  |  |  |
Within one year | $ | 306 |  |  | $ | 306 |  |  |  |
After one year through five years | 1,312 |  |  | 1,292 |  |  |  |
After five years through ten years | 5,119 |  |  | 4,564 |  |  |  |
After ten years | 11,181 |  |  | 8,883 |  |  |  |
Total investment securities | $ | 17,918 |  |  | $ | 15,045 |  |  |  |

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- 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/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 + Details
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