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v3.19.2

SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Value of Securities Available for Sale | The amortized cost and fair value of debt securities are as follows: TABLE 3.1
(in millions) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt Securities Available for Sale: |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |
U.S. government agencies | $ | 172 |  |  | $ | — |  |  | $ | — |  |  | $ | 172 |
U.S. government-sponsored entities | 301 |  |  | 1 |  |  | (1 | ) |  | 301 |
Residential mortgage-backed securities: |  |  |  |  |  |  |
Agency mortgage-backed securities | 1,318 |  |  | 3 |  |  | (6 | ) |  | 1,315 |
Agency collateralized mortgage obligations | 1,233 |  |  | 14 |  |  | (5 | ) |  | 1,242 |
Commercial mortgage-backed securities | 227 |  |  | 5 |  |  | — |  |  | 232 |
States of the U.S. and political subdivisions | 15 |  |  | — |  |  | — |  |  | 15 |
Other debt securities | 2 |  |  | — |  |  | — |  |  | 2 |
Total debt securities available for sale | $ | 3,268 |  |  | $ | 23 |  |  | $ | (12 | ) |  | $ | 3,279 |
December 31, 2018 |  |  |  |  |  |  |
U.S. government agencies | $ | 188 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 187 |
U.S. government-sponsored entities | 317 |  |  | — |  |  | (4 | ) |  | 313 |
Residential mortgage-backed securities: |  |  |  |  |  |  |
Agency mortgage-backed securities | 1,465 |  |  | — |  |  | (36 | ) |  | 1,429 |
Agency collateralized mortgage obligations | 1,179 |  |  | 5 |  |  | (23 | ) |  | 1,161 |
Commercial mortgage-backed securities | 229 |  |  | — |  |  | (1 | ) |  | 228 |
States of the U.S. and political subdivisions | 21 |  |  | — |  |  | — |  |  | 21 |
Other debt securities | 2 |  |  | — |  |  | — |  |  | 2 |
Total debt securities available for sale | $ | 3,401 |  |  | $ | 5 |  |  | $ | (65 | ) |  | $ | 3,341 |
Schedule of Amortized Cost and Fair Value of Securities Held to Maturity |
(in millions) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt Securities Held to Maturity: |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |
U.S. Treasury | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
U.S. government agencies | 2 |  |  | — |  |  | — |  |  | 2 |
U.S. government-sponsored entities | 190 |  |  | — |  |  | (1 | ) |  | 189 |
Residential mortgage-backed securities: |  |  |  |  |  |  |
Agency mortgage-backed securities | 952 |  |  | 4 |  |  | (4 | ) |  | 952 |
Agency collateralized mortgage obligations | 728 |  |  | 6 |  |  | (8 | ) |  | 726 |
Commercial mortgage-backed securities | 100 |  |  | 4 |  |  | — |  |  | 104 |
States of the U.S. and political subdivisions | 1,106 |  |  | 18 |  |  | (5 | ) |  | 1,119 |
Total debt securities held to maturity | $ | 3,079 |  |  | $ | 32 |  |  | $ | (18 | ) |  | $ | 3,093 |
December 31, 2018 |  |  |  |  |  |  |
U.S. Treasury | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
U.S. government agencies | 2 |  |  | — |  |  | — |  |  | 2 |
U.S. government-sponsored entities | 215 |  |  | — |  |  | (4 | ) |  | 211 |
Residential mortgage-backed securities: |  |  |  |  |  |  |
Agency mortgage-backed securities | 1,036 |  |  | — |  |  | (26 | ) |  | 1,010 |
Agency collateralized mortgage obligations | 794 |  |  | 1 |  |  | (24 | ) |  | 771 |
Commercial mortgage-backed securities | 126 |  |  | 1 |  |  | (1 | ) |  | 126 |
States of the U.S. and political subdivisions | 1,080 |  |  | 3 |  |  | (49 | ) |  | 1,034 |
Total debt securities held to maturity | $ | 3,254 |  |  | $ | 5 |  |  | $ | (104 | ) |  | $ | 3,155 |
Amortized Cost and Fair Value of Securities, by Contractual Maturities | As of June 30, 2019, the amortized cost and fair value of debt securities, by contractual maturities, were as follows: TABLE 3.2
| Available for Sale |  | Held to Maturity
(in millions) | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due in one year or less | $ | 123 |  |  | $ | 123 |  |  | $ | 33 |  |  | $ | 33 |
Due after one year but within five years | 194 |  |  | 195 |  |  | 181 |  |  | 179 |
Due after five years but within ten years | 73 |  |  | 72 |  |  | 97 |  |  | 99 |
Due after ten years | 100 |  |  | 100 |  |  | 988 |  |  | 1,000 |
| 490 |  |  | 490 |  |  | 1,299 |  |  | 1,311 |
Residential mortgage-backed securities: |  |  |  |  |  |  |
Agency mortgage-backed securities | 1,318 |  |  | 1,315 |  |  | 952 |  |  | 952 |
Agency collateralized mortgage obligations | 1,233 |  |  | 1,242 |  |  | 728 |  |  | 726 |
Commercial mortgage-backed securities | 227 |  |  | 232 |  |  | 100 |  |  | 104 |
Total debt securities | $ | 3,268 |  |  | $ | 3,279 |  |  | $ | 3,079 |  |  | $ | 3,093 |
Schedule of Securities Pledged as Collateral | Following is information relating to securities pledged: TABLE 3.3
(dollars in millions) | June 30, 2019 |  | December 31, 2018
Securities pledged (carrying value): |  |  |
To secure public deposits, trust deposits and for other purposes as required by law | $ | 3,640 |  |  | $ | 3,874 |
As collateral for short-term borrowings | 246 |  |  | 279 |
Securities pledged as a percent of total securities | 61.1 | % |  | 63.0 | %
Summaries of Fair Values and Unrealized Losses of Impaired Securities, Segregated by Length of Impairment | Following are summaries of the fair values and unrealized losses of temporarily-impaired debt securities, segregated by length of impairment. TABLE 3.4
| Less than 12 Months |  | 12 Months or More |  | Total
(dollars in millions) | # |  | Fair Value |  | Unrealized Losses |  | # |  | Fair Value |  | Unrealized Losses |  | # |  | Fair Value |  | Unrealized Losses
Debt Securities Available for Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies | 5 |  |  | $ | 19 |  |  | $ | — |  |  | 12 |  |  | $ | 74 |  |  | $ | — |  |  | 17 |  |  | $ | 93 |  |  | $ | — |
U.S. government-sponsored entities | — |  |  | — |  |  | — |  |  | 9 |  |  | 205 |  |  | (1 | ) |  | 9 |  |  | 205 |  |  | (1 | )
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed securities | — |  |  | — |  |  | — |  |  | 53 |  |  | 849 |  |  | (6 | ) |  | 53 |  |  | 849 |  |  | (6 | )
Agency collateralized mortgage obligations | — |  |  | — |  |  | — |  |  | 38 |  |  | 370 |  |  | (5 | ) |  | 38 |  |  | 370 |  |  | (5 | )
States of the U.S. and political subdivisions | — |  |  | — |  |  | — |  |  | 3 |  |  | 5 |  |  | — |  |  | 3 |  |  | 5 |  |  | — |
Other debt securities | — |  |  | — |  |  | — |  |  | 1 |  |  | 2 |  |  | — |  |  | 1 |  |  | 2 |  |  | — |
Total temporarily impaired debt securities AFS | 5 |  |  | $ | 19 |  |  | $ | — |  |  | 116 |  |  | $ | 1,505 |  |  | $ | (12 | ) |  | 121 |  |  | $ | 1,524 |  |  | $ | (12 | )
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies | 20 |  |  | $ | 145 |  |  | $ | (1 | ) |  | — |  |  | $ | — |  |  | $ | — |  |  | 20 |  |  | $ | 145 |  |  | $ | (1 | )
U.S. government-sponsored entities | 1 |  |  | 36 |  |  | — |  |  | 11 |  |  | 227 |  |  | (4 | ) |  | 12 |  |  | 263 |  |  | (4 | )
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed securities | 16 |  |  | 259 |  |  | (4 | ) |  | 71 |  |  | 1,159 |  |  | (32 | ) |  | 87 |  |  | 1,418 |  |  | (36 | )
Agency collateralized mortgage obligations | 2 |  |  | 82 |  |  | (1 | ) |  | 47 |  |  | 590 |  |  | (22 | ) |  | 49 |  |  | 672 |  |  | (23 | )
Non-agency collateralized mortgage obligations | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Commercial mortgage-backed securities | 4 |  |  | 155 |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 155 |  |  | (1 | )
States of the U.S. and political subdivisions | 2 |  |  | 2 |  |  | — |  |  | 6 |  |  | 10 |  |  | — |  |  | 8 |  |  | 12 |  |  | — |
Other debt securities | — |  |  | — |  |  | — |  |  | 1 |  |  | 2 |  |  | — |  |  | 1 |  |  | 2 |  |  | — |
Total temporarily impaired debt securities AFS | 46 |  |  | $ | 679 |  |  | $ | (7 | ) |  | 136 |  |  | $ | 1,988 |  |  | $ | (58 | ) |  | 182 |  |  | $ | 2,667 |  |  | $ | (65 | )
| Less than 12 Months |  | 12 Months or More |  | Total
(dollars in millions) | # |  | Fair Value |  | Unrealized Losses |  | # |  | Fair Value |  | Unrealized Losses |  | # |  | Fair Value |  | Unrealized Losses
Debt Securities Held to Maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored entities | — |  |  | $ | — |  |  | $ | — |  |  | 10 |  |  | $ | 189 |  |  | $ | (1 | ) |  | 10 |  |  | $ | 189 |  |  | $ | (1 | )
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed securities | — |  |  | — |  |  | — |  |  | 36 |  |  | 506 |  |  | (4 | ) |  | 36 |  |  | 506 |  |  | (4 | )
Agency collateralized mortgage obligations | — |  |  | — |  |  | — |  |  | 38 |  |  | 381 |  |  | (8 | ) |  | 38 |  |  | 381 |  |  | (8 | )
Commercial mortgage-backed securities | — |  |  | — |  |  | — |  |  | 2 |  |  | 9 |  |  | — |  |  | 2 |  |  | 9 |  |  | — |
States of the U.S. and political subdivisions | 1 |  |  | 4 |  |  | — |  |  | 43 |  |  | 171 |  |  | (5 | ) |  | 44 |  |  | 175 |  |  | (5 | )
Total temporarily impaired debt securities HTM | 1 |  |  | $ | 4 |  |  | $ | — |  |  | 129 |  |  | $ | 1,256 |  |  | $ | (18 | ) |  | 130 |  |  | $ | 1,260 |  |  | $ | (18 | )
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored entities | — |  |  | $ | — |  |  | $ | — |  |  | 12 |  |  | $ | 211 |  |  | $ | (4 | ) |  | 12 |  |  | $ | 211 |  |  | $ | (4 | )
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed securities | 43 |  |  | 294 |  |  | (4 | ) |  | 47 |  |  | 694 |  |  | (22 | ) |  | 90 |  |  | 988 |  |  | (26 | )
Agency collateralized mortgage obligations | 3 |  |  | 42 |  |  | — |  |  | 49 |  |  | 611 |  |  | (24 | ) |  | 52 |  |  | 653 |  |  | (24 | )
Commercial mortgage-backed securities | 5 |  |  | 26 |  |  | — |  |  | 4 |  |  | 43 |  |  | (1 | ) |  | 9 |  |  | 69 |  |  | (1 | )
States of the U.S. and political subdivisions | 159 |  |  | 590 |  |  | (27 | ) |  | 51 |  |  | 161 |  |  | (22 | ) |  | 210 |  |  | 751 |  |  | (49 | )
Total temporarily impaired debt securities HTM | 210 |  |  | $ | 952 |  |  | $ | (31 | ) |  | 163 |  |  | $ | 1,720 |  |  | $ | (73 | ) |  | 373 |  |  | $ | 2,672 |  |  | $ | (104 | )

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
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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/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details
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