Derivatives (Tables)

v2.4.1.9

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following tables present derivative instruments included on the Consolidated Balance Sheet in derivative assets and liabilities at December 31, 2014 and 2013. Balances are presented on a gross basis, prior to the application of counterparty and cash collateral netting. Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral received or paid.                                   December 31, 2014       Gross Derivative Assets   Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1)   Trading and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total   Trading and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total Interest rate contracts                           Swaps $ 29,445.4   $ 658.5   $ 8.5   $ 667.0   $ 658.2   $ 0.5   $ 658.7 Futures and forwards 10,159.4   1.7   —   1.7   2.0   —   2.0 Written options 1,725.2   —   —   —   85.4   —   85.4 Purchased options 1,739.8   85.6   —   85.6   —   —   — Foreign exchange contracts                           Swaps 2,159.1   51.5   0.8   52.3   54.6   1.9   56.5 Spot, futures and forwards 4,226.4   68.9   1.5   70.4   72.4   0.2   72.6 Written options 600.7   —   —   —   16.0   —   16.0 Purchased options 584.6   15.1   —   15.1   —   —   — Equity contracts                           Swaps 193.7   3.2   —   3.2   4.0   —   4.0 Futures and forwards 69.5   2.1   —   2.1   1.8   —   1.8 Written options 341.0   —   —   —   26.0   —   26.0 Purchased options 318.4   27.9   —   27.9   —   —   — Commodity contracts                           Swaps 74.3   5.8   —   5.8   8.5   —   8.5 Futures and forwards 376.5   4.5   —   4.5   1.8   —   1.8 Written options 129.5   —   —   —   11.5   —   11.5 Purchased options 141.3   10.7   —   10.7   —   —   — Credit derivatives                           Purchased credit derivatives:                           Credit default swaps 1,094.8   13.3   —   13.3   23.4   —   23.4 Total return swaps/other 44.3   0.2   —   0.2   1.4   —   1.4 Written credit derivatives:                           Credit default swaps 1,073.1   24.5   —   24.5   11.9   —   11.9 Total return swaps/other 61.0   0.5   —   0.5   0.3   —   0.3 Gross derivative assets/liabilities     $ 974.0   $ 10.8   $ 984.8   $ 979.2   $ 2.6   $ 981.8 Less: Legally enforceable master netting agreements             (884.8 )           (884.8 ) Less: Cash collateral received/paid             (47.3 )           (50.1 ) Total derivative assets/liabilities             $ 52.7           $ 46.9 (1)  Represents the total contract/notional amount of derivative assets and liabilities outstanding.                                   December 31, 2013       Gross Derivative Assets   Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1)   Trading and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total   Trading and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total Interest rate contracts                           Swaps $ 33,272.0   $ 659.9   $ 7.5   $ 667.4   $ 658.4   $ 0.9   $ 659.3 Futures and forwards 8,217.6   1.6   —   1.6   1.5   —   1.5 Written options 2,065.4   —   —   —   64.4   —   64.4 Purchased options 2,028.3   65.4   —   65.4   —   —   — Foreign exchange contracts                           Swaps 2,284.1   43.1   1.0   44.1   42.7   1.0   43.7 Spot, futures and forwards 2,922.5   32.5   0.7   33.2   33.5   1.1   34.6 Written options 412.4   —   —   —   9.2   —   9.2 Purchased options 392.4   8.8   —   8.8   —   —   — Equity contracts                           Swaps 162.0   3.6   —   3.6   4.2   —   4.2 Futures and forwards 71.4   1.1   —   1.1   1.4   —   1.4 Written options 315.6   —   —   —   29.6   —   29.6 Purchased options 266.7   30.4   —   30.4   —   —   — Commodity contracts                           Swaps 73.1   3.8   —   3.8   5.7   —   5.7 Futures and forwards 454.4   4.7   —   4.7   2.5   —   2.5 Written options 157.3   —   —   —   5.0   —   5.0 Purchased options 164.0   5.2   —   5.2   —   —   — Credit derivatives                           Purchased credit derivatives:                           Credit default swaps 1,305.1   15.7   —   15.7   28.1   —   28.1 Total return swaps/other 38.1   2.0   —   2.0   3.2   —   3.2 Written credit derivatives:                           Credit default swaps 1,265.4   29.3   —   29.3   13.8   —   13.8 Total return swaps/other 63.4   4.0   —   4.0   0.2   —   0.2 Gross derivative assets/liabilities     $ 911.1   $ 9.2   $ 920.3   $ 903.4   $ 3.0   $ 906.4 Less: Legally enforceable master netting agreements             (825.5 )           (825.5 ) Less: Cash collateral received/paid             (47.3 )           (43.5 ) Total derivative assets/liabilities             $ 47.5           $ 37.4 (1)  Represents the total contract/notional amount of derivative assets and liabilities outstanding.
Derivative [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below summarizes information related to fair value hedges for 2014, 2013 and 2012, including hedges of interest rate risk on long-term debt that were acquired as part of a business combination and redesignated. At redesignation, the fair value of the derivatives was positive. As the derivatives mature, the fair value will approach zero. As a result, ineffectiveness will occur and the fair value changes in the derivatives and the long-term debt being hedged may be directionally the same in certain scenarios. Based on a regression analysis, the derivatives continue to be highly effective at offsetting changes in the fair value of the long-term debt attributable to interest rate risk.       Derivatives Designated as Fair Value Hedges                       Gains (Losses) 2014 (Dollars in millions) Derivative   Hedged Item   Hedge Ineffectiveness Interest rate risk on long-term debt (1) $ 2,144   $ (2,935 )   $ (791 ) Interest rate and foreign currency risk on long-term debt (1) (2,212 )   2,120   (92 ) Interest rate risk on available-for-sale securities (2) (35 )   3   (32 ) Price risk on commodity inventory (3) 21   (15 )   6 Total $ (82 )   $ (827 )   $ (909 )               2013 Interest rate risk on long-term debt (1) $ (4,704 )   $ 3,925   $ (779 ) Interest rate and foreign currency risk on long-term debt (1) (1,291 )   1,085   (206 ) Interest rate risk on available-for-sale securities (2) 839   (840 )   (1 ) Price risk on commodity inventory (3) (13 )   11   (2 ) Total $ (5,169 )   $ 4,181   $ (988 )               2012 Interest rate risk on long-term debt (1) $ (195 )   $ (770 )   $ (965 ) Interest rate and foreign currency risk on long-term debt (1) (1,482 )   1,225   (257 ) Interest rate risk on available-for-sale securities (2) (4 )   91   87 Price risk on commodity inventory (3) (6 )   6   — Total $ (1,687 )   $ 552   $ (1,135 ) (1)  Amounts are recorded in interest expense on long-term debt and in other income (loss). (2)  Amounts are recorded in interest income on debt securities. (3)  Amounts relating to commodity inventory are recorded in trading account profits.
Cash Flow and Net Investment Hedges	The table below summarizes certain information related to cash flow hedges and net investment hedges for 2014, 2013 and 2012. Of the $1.7 billion net loss (after-tax) on derivatives in accumulated other comprehensive income (OCI) for 2014, $803 million ($502 million after-tax) is expected to be reclassified into earnings in the next 12 months. These net losses reclassified into earnings are expected to primarily reduce net interest income related to the respective hedged items. Amounts related to price risk on restricted stock awards reclassified from accumulated OCI are recorded in personnel expense.             Derivatives Designated as Cash Flow and Net Investment Hedges                         2014 (Dollars in millions, amounts pretax) Gains (Losses) Recognized in Accumulated OCI on Derivatives   Gains (Losses) in Income Reclassified from Accumulated OCI   Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing (1) Cash flow hedges           Interest rate risk on variable-rate portfolios $ 68   $ (1,119 )   $ (4 ) Price risk on restricted stock awards 127   359   — Total $ 195   $ (760 )   $ (4 ) Net investment hedges           Foreign exchange risk $ 3,021   $ 21   $ (503 )               2013 Cash flow hedges           Interest rate risk on variable-rate portfolios $ (321 )   $ (1,102 )   $ — Price risk on restricted stock awards 477   329   — Total $ 156   $ (773 )   $ — Net investment hedges           Foreign exchange risk $ 1,024   $ (355 )   $ (134 )               2012 Cash flow hedges           Interest rate risk on variable-rate portfolios $ 10   $ (957 )   $ — Price risk on restricted stock awards 420   (78 )   — Total $ 430   $ (1,035 )   $ — Net investment hedges           Foreign exchange risk $ (771 )   $ (26 )   $ (269 ) (1)  Amounts related to derivatives designated as cash flow hedges represent hedge ineffectiveness and amounts related to net investment hedges represent amounts excluded from effectiveness testing.
Other Risk Management Derivatives	The table below presents gains (losses) on these derivatives for 2014, 2013 and 2012. These gains (losses) are largely offset by the income or expense that is recorded on the hedged item. The change in the impact of interest rate and foreign currency risk on ALM activities was primarily driven by decreasing interest rates and foreign currency weakening against the U.S. Dollar throughout 2014 compared to strengthening during 2013.             Other Risk Management Derivatives                       Gains (Losses)                       (Dollars in millions) 2014   2013   2012 Interest rate risk on mortgage banking income (1) $ 1,017   $ (619 )   $ 1,324 Credit risk on loans (2) 16   (47 )   (95 ) Interest rate and foreign currency risk on ALM activities (3) (3,683 )   2,501   424 Price risk on restricted stock awards (4) 600   865   1,008 Other (9 )   (19 )   58 (1)  Net gains (losses) on these derivatives are recorded in mortgage banking income as they are used to mitigate the interest rate risk related to MSRs, interest rate lock commitments and mortgage loans held-for-sale, all of which are measured at fair value with changes in fair value recorded in mortgage banking income. The net gains on interest rate lock commitments related to the origination of mortgage loans that are held-for-sale, which are not included in the table but are considered derivative instruments, were $776 million, $927 million and $3.0 billion for 2014, 2013 and 2012, respectively. (2)  Net gains (losses) on these derivatives are recorded in other income (loss). (3)  Primarily related to hedges of debt securities carried at fair value and hedges of foreign currency-denominated debt. Gains (losses) on these derivatives and the related hedged items are recorded in other income (loss). (4)  Gains (losses) on these derivatives are recorded in personnel expense.
Schedule of Derivative Instruments Included in Trading Activities	The table below, which includes both derivatives and non-derivative cash instruments, identifies the amounts in the respective income statement line items attributable to the Corporation’s sales and trading revenue in Global Markets, categorized by primary risk, for 2014, 2013 and 2012. The difference between total trading account profits in the table below and in the Consolidated Statement of Income represents trading activities in business segments other than Global Markets. This table includes debit valuation adjustment (DVA) gains (losses), net of hedges, and funding valuation adjustment (FVA) losses. Global Markets results in Note 24 – Business Segment Information are presented on a fully taxable-equivalent (FTE) basis. The table below is not presented on an FTE basis.                 Sales and Trading Revenue                                 2014 (Dollars in millions) Trading Account Profits   Net Interest Income   Other (1)   Total Interest rate risk $ 952   $ 1,169   $ 363   $ 2,484 Foreign exchange risk 1,177   8   (128 )   1,057 Equity risk 1,954   (70 )   2,318   4,202 Credit risk 1,410   2,682   614   4,706 Other risk 504   (319 )   106   291 Total sales and trading revenue $ 5,997   $ 3,470   $ 3,273   $ 12,740                   2013 Interest rate risk $ 1,120   $ 1,104   $ (333 )   $ 1,891 Foreign exchange risk 1,170   5   (103 )   1,072 Equity risk 1,994   111   2,075   4,180 Credit risk 2,083   2,710   78   4,871 Other risk 367   (219 )   69   217 Total sales and trading revenue $ 6,734   $ 3,711   $ 1,786   $ 12,231                   2012 Interest rate risk $ (2,875 )   $ 1,039   $ (4 )   $ (1,840 ) Foreign exchange risk 909   5   5   919 Equity risk 259   (57 )   1,891   2,093 Credit risk 2,514   2,321   961   5,796 Other risk 4,899   (227 )   (5,148 )   (476 ) Total sales and trading revenue $ 5,706   $ 3,081   $ (2,295 )   $ 6,492 (1)  Represents amounts in investment and brokerage services and other income (loss) that are recorded in Global Markets and included in the definition of sales and trading revenue. Includes investment and brokerage services revenue of $2.2 billion, $2.0 billion and $1.8 billion for 2014, 2013 and 2012, respectively.
Disclosure of Credit Derivatives	Credit derivative instruments where the Corporation is the seller of credit protection and their expiration at December 31, 2014 and 2013 are summarized in the table below. These instruments are classified as investment and non-investment grade based on the credit quality of the underlying referenced obligation. The Corporation considers ratings of BBB- or higher as investment grade. Non-investment grade includes non-rated credit derivative instruments. The Corporation discloses internal categorizations of investment grade and non-investment grade consistent with how risk is managed for these instruments.                     Credit Derivative Instruments         December 31, 2014   Carrying Value (Dollars in millions) Less than One Year   One to Three Years   Three to Five Years   Over Five Years   Total Credit default swaps:                   Investment grade $ 100   $ 714   $ 1,455   $ 939   $ 3,208 Non-investment grade 916   2,107   1,338   4,301   8,662 Total 1,016   2,821   2,793   5,240   11,870 Total return swaps/other:                   Investment grade 24   —   —   —   24 Non-investment grade 64   247   2   —   313 Total 88   247   2   —   337 Total credit derivatives $ 1,104   $ 3,068   $ 2,795   $ 5,240   $ 12,207 Credit-related notes:                   Investment grade $ 2   $ 365   $ 568   $ 2,634   $ 3,569 Non-investment grade 5   141   85   1,443   1,674 Total credit-related notes $ 7   $ 506   $ 653   $ 4,077   $ 5,243   Maximum Payout/Notional Credit default swaps:                   Investment grade $ 132,974   $ 342,914   $ 242,728   $ 28,982   $ 747,598 Non-investment grade 54,326   170,580   80,011   20,586   325,503 Total 187,300   513,494   322,739   49,568   1,073,101 Total return swaps/other:                   Investment grade 22,645   —   —   —   22,645 Non-investment grade 23,839   10,792   3,268   487   38,386 Total 46,484   10,792   3,268   487   61,031 Total credit derivatives $ 233,784   $ 524,286   $ 326,007   $ 50,055   $ 1,134,132   December 31, 2013   Carrying Value Credit default swaps:                   Investment grade $ 2   $ 220   $ 974   $ 1,134   $ 2,330 Non-investment grade 424   1,924   2,469   6,667   11,484 Total 426   2,144   3,443   7,801   13,814 Total return swaps/other:                   Investment grade 22   —   —   —   22 Non-investment grade 29   38   2   86   155 Total 51   38   2   86   177 Total credit derivatives $ 477   $ 2,182   $ 3,445   $ 7,887   $ 13,991 Credit-related notes:                   Investment grade $ —   $ 278   $ 595   $ 4,457   $ 5,330 Non-investment grade 145   107   756   946   1,954 Total credit-related notes $ 145   $ 385   $ 1,351   $ 5,403   $ 7,284   Maximum Payout/Notional Credit default swaps:                   Investment grade $ 170,764   $ 379,273   $ 411,426   $ 36,039   $ 997,502 Non-investment grade 53,316   90,986   95,319   28,257   267,878 Total 224,080   470,259   506,745   64,296   1,265,380 Total return swaps/other:                   Investment grade 21,771   —   —   —   21,771 Non-investment grade 27,784   8,150   4,103   1,599   41,636 Total 49,555   8,150   4,103   1,599   63,407 Total credit derivatives $ 273,635   $ 478,409   $ 510,848   $ 65,895   $ 1,328,787
Additional Collateral required to be posted upon downgrade	The table below presents the amount of additional collateral that would have been contractually required by derivative contracts and other trading agreements at December 31, 2014 if the rating agencies had downgraded their long-term senior debt ratings for the Corporation or certain subsidiaries by one incremental notch and by an additional second incremental notch.       Additional Collateral Required to be Posted Upon Downgrade         December 31, 2014 (Dollars in millions) One incremental notch Second incremental notch Bank of America Corporation $ 1,402 $ 2,825 Bank of America, N.A. and subsidiaries (1) 1,072 1,886 (1)  Included in Bank of America Corporation collateral requirements in this table.
Derivative Liability subject to unilateral termination upon downgrade	The table below presents the derivative liabilities that would be subject to unilateral termination by counterparties and the amounts of collateral that would have been contractually required at December 31, 2014 if the long-term senior debt ratings for the Corporation or certain subsidiaries had been lower by one incremental notch and by an additional second incremental notch.       Derivative Liabilities Subject to Unilateral Termination Upon Downgrade         December 31, 2014 (Dollars in millions) One incremental notch Second incremental notch Derivative liability $ 1,785 $ 3,850 Collateral posted 1,520 2,986
Valuation Adjustments on Derivatives	The table below presents CVA, DVA and FVA gains (losses) on derivatives, which are recorded in trading account profits, on a gross and net of hedge basis for 2014, 2013 and 2012. CVA gains reduce the cumulative CVA thereby increasing the derivative assets balance. DVA gains increase the cumulative DVA thereby decreasing the derivative liabilities balance. CVA and DVA losses have the opposite impact. FVA gains related to derivative assets reduce the cumulative FVA thereby increasing the derivative assets balance. FVA gains related to derivative liabilities increase the cumulative FVA thereby decreasing the derivative liabilities balance.                   Valuation Adjustments on Derivatives Gains (Losses)                   2014   2013   2012 (Dollars in millions) Gross Net   Gross Net   Gross Net Derivative assets (CVA) (1) $ (22 ) $ 191   $ 738 $ (96 )   $ 1,022 $ 291 Derivative assets (FVA) (2) (632 ) (632 )   n/a n/a   n/a n/a Derivative liabilities (DVA) (3) (28 ) (150 )   (39 ) (75 )   (2,212 ) (2,477 ) Derivative liabilities (FVA) (2) 135 135   n/a n/a   n/a n/a (1)  At December 31, 2014, 2013 and 2012, the cumulative CVA reduced the derivative assets balance by $1.6 billion, $1.6 billion and $2.4 billion, respectively. (2)  FVA was adopted in 2014 and the cumulative FVA reduced the net derivatives balance by $497 million. (3)  At December 31, 2014, 2013 and 2012, the cumulative DVA reduced the derivative liabilities balance by $0.8 billion, $0.8 billion and $0.8 billion, respectively.
Derivative
Derivative [Line Items]
Offsetting Liabilities	Offsetting of Derivatives                                 December 31, 2014   December 31, 2013 (Dollars in billions) Derivative Assets   Derivative Liabilities   Derivative Assets   Derivative Liabilities Interest rate contracts               Over-the-counter $ 386.6   $ 373.2   $ 381.7   $ 365.9 Exchange-traded 0.1   0.1   0.4   0.3 Over-the-counter cleared 365.7   368.7   351.2   356.5 Foreign exchange contracts               Over-the-counter 133.0   139.9   82.9   83.9 Equity contracts               Over-the-counter 19.5   16.7   20.3   17.6 Exchange-traded 8.6   7.8   8.4   9.8 Commodity contracts               Over-the-counter 10.2   11.9   6.3   7.4 Exchange-traded 7.4   7.7   3.3   2.9 Over-the-counter cleared 0.1   0.6   —   — Credit derivatives               Over-the-counter 30.8   30.2   44.0   38.9 Over-the-counter cleared 7.0   6.8   5.8   5.9 Total gross derivative assets/liabilities, before netting               Over-the-counter 580.1   571.9   535.2   513.7 Exchange-traded 16.1   15.6   12.1   13.0 Over-the-counter cleared 372.8   376.1   357.0   362.4 Less: Legally enforceable master netting agreements and cash collateral received/paid               Over-the-counter (545.7 )   (545.5 )   (505.0 )   (495.4 ) Exchange-traded (13.9 )   (13.9 )   (11.2 )   (11.2 ) Over-the-counter cleared (372.5 )   (375.5 )   (356.6 )   (362.4 ) Derivative assets/liabilities, after netting 36.9   28.7   31.5   20.1 Other gross derivative assets/liabilities 15.8   18.2   16.0   17.3 Total derivative assets/liabilities 52.7   46.9   47.5   37.4 Less: Financial instruments collateral (1) (13.3 )   (8.9 )   (10.1 )   (4.6 ) Total net derivative assets/liabilities $ 39.4   $ 38.0   $ 37.4   $ 32.8 (1)  These amounts are limited to the derivative asset/liability balance and, accordingly, do not include excess collateral received/pledged.
Offsetting Assets	Offsetting of Derivatives                                 December 31, 2014   December 31, 2013 (Dollars in billions) Derivative Assets   Derivative Liabilities   Derivative Assets   Derivative Liabilities Interest rate contracts               Over-the-counter $ 386.6   $ 373.2   $ 381.7   $ 365.9 Exchange-traded 0.1   0.1   0.4   0.3 Over-the-counter cleared 365.7   368.7   351.2   356.5 Foreign exchange contracts               Over-the-counter 133.0   139.9   82.9   83.9 Equity contracts               Over-the-counter 19.5   16.7   20.3   17.6 Exchange-traded 8.6   7.8   8.4   9.8 Commodity contracts               Over-the-counter 10.2   11.9   6.3   7.4 Exchange-traded 7.4   7.7   3.3   2.9 Over-the-counter cleared 0.1   0.6   —   — Credit derivatives               Over-the-counter 30.8   30.2   44.0   38.9 Over-the-counter cleared 7.0   6.8   5.8   5.9 Total gross derivative assets/liabilities, before netting               Over-the-counter 580.1   571.9   535.2   513.7 Exchange-traded 16.1   15.6   12.1   13.0 Over-the-counter cleared 372.8   376.1   357.0   362.4 Less: Legally enforceable master netting agreements and cash collateral received/paid               Over-the-counter (545.7 )   (545.5 )   (505.0 )   (495.4 ) Exchange-traded (13.9 )   (13.9 )   (11.2 )   (11.2 ) Over-the-counter cleared (372.5 )   (375.5 )   (356.6 )   (362.4 ) Derivative assets/liabilities, after netting 36.9   28.7   31.5   20.1 Other gross derivative assets/liabilities 15.8   18.2   16.0   17.3 Total derivative assets/liabilities 52.7   46.9   47.5   37.4 Less: Financial instruments collateral (1) (13.3 )   (8.9 )   (10.1 )   (4.6 ) Total net derivative assets/liabilities $ 39.4   $ 38.0   $ 37.4   $ 32.8 (1)  These amounts are limited to the derivative asset/liability balance and, accordingly, do not include excess collateral received/pledged.