Fair Value Measurements (Tables)

v2.4.0.6

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value Assets and liabilities measured on Recurring basis	Assets and liabilities carried at fair value on a recurring basis at December 31, 2012 and 2011, including financial instruments which the Corporation accounts for under the fair value option, are summarized in the following tables.                       December 31, 2012   Fair Value Measurements         (Dollars in millions) Level 1 (1)   Level 2 (1)   Level 3   Netting Adjustments (2)   Assets/Liabilities at Fair Value Assets                   Federal funds sold and securities borrowed or purchased under agreements to resell $ —   $ 98,670   $ —   $ —   $ 98,670 Trading account assets:                   U.S. government and agency securities 57,655   29,319   —   —   86,974 Corporate securities, trading loans and other 1,292   32,882   3,726   —   37,900 Equity securities 28,144   14,626   545   —   43,315 Non-U.S. sovereign debt 38,405   13,439   353   —   52,197 Mortgage trading loans and ABS —   11,905   4,935   —   16,840 Total trading account assets 125,496   102,171   9,559   —   237,226 Derivative assets (3) 2,997   1,372,398   8,073   (1,329,971 )   53,497 AFS debt securities:                   U.S. Treasury securities and agency securities 21,514   2,958   —   —   24,472 Mortgage-backed securities:                   Agency —   188,149   —   —   188,149 Agency-collateralized mortgage obligations —   37,538   —   —   37,538 Non-agency residential —   9,494   —   —   9,494 Non-agency commercial —   3,914   10   —   3,924 Non-U.S. securities 2,637   2,981   —   —   5,618 Corporate/Agency bonds —   1,358   92   —   1,450 Other taxable securities 20   8,180   3,928   —   12,128 Tax-exempt securities —   3,072   1,061   —   4,133 Total AFS debt securities 24,171   257,644   5,091   —   286,906 Loans and leases —   6,715   2,287   —   9,002 Mortgage servicing rights —   —   5,716   —   5,716 Loans held-for-sale —   8,926   2,733   —   11,659 Other assets 19,026   18,828   3,129   —   40,983 Total assets $ 171,690   $ 1,865,352   $ 36,588   $ (1,329,971 )   $ 743,659 Liabilities                   Interest-bearing deposits in U.S. offices $ —   $ 2,262   $ —   $ —   $ 2,262 Federal funds purchased and securities loaned or sold under agreements to repurchase —   42,639   —   —   42,639 Trading account liabilities:                   U.S. government and agency securities 22,351   1,079   —   —   23,430 Equity securities 19,852   2,640   —   —   22,492 Non-U.S. sovereign debt 18,875   1,369   —   —   20,244 Corporate securities and other 487   6,870   64   —   7,421 Total trading account liabilities 61,565   11,958   64   —   73,587 Derivative liabilities (3) 2,859   1,355,309   6,605   (1,318,757 )   46,016 Other short-term borrowings —   4,074   —   —   4,074 Accrued expenses and other liabilities 15,457   1,122   15   —   16,594 Long-term debt —   46,860   2,301   —   49,161 Total liabilities $ 79,881   $ 1,464,224   $ 8,985   $ (1,318,757 )   $ 234,333 (1)  During 2012, $2.0 billion and $350 million of assets and liabilities were transferred from Level 1 to Level 2, and $785 million and $40 million of assets and liabilities were transferred from Level 2 to Level 1. Of the asset transfers from Level 1 to Level 2, $940 million was due to a restriction that became effective for a private equity investment during 2012, while $535 million of the transfers from Level 2 to Level 1 was due to the lapse of this restriction during 2012. The remaining transfers were the result of additional information associated with certain equities, derivative contracts and private equity investments. (2)  Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (3)  For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives.                       December 31, 2011   Fair Value Measurements         (Dollars in millions) Level 1 (1)   Level 2 (1)   Level 3   Netting Adjustments (2)   Assets/Liabilities at Fair Value Assets                   Federal funds sold and securities borrowed or purchased under agreements to resell $ —   $ 87,453   $ —   $ —   $ 87,453 Trading account assets:                   U.S. government and agency securities 30,540   22,073   —   —   52,613 Corporate securities, trading loans and other 1,067   28,624   6,880   —   36,571 Equity securities 17,181   5,949   544   —   23,674 Non-U.S. sovereign debt 33,667   8,937   342   —   42,946 Mortgage trading loans and ABS —   9,826   3,689   —   13,515 Total trading account assets 82,455   75,409   11,455   —   169,319 Derivative assets (3) 2,186   1,865,310   14,366   (1,808,839 )   73,023 AFS debt securities:                   U.S. Treasury securities and agency securities 39,389   3,475   —   —   42,864 Mortgage-backed securities:                   Agency —   142,526   37   —   142,563 Agency-collateralized mortgage obligations —   44,999   —   —   44,999 Non-agency residential —   13,907   860   —   14,767 Non-agency commercial —   5,482   40   —   5,522 Non-U.S. securities 1,664   3,256   —   —   4,920 Corporate/Agency bonds —   2,873   162   —   3,035 Other taxable securities 20   8,593   4,265   —   12,878 Tax-exempt securities —   1,955   2,648   —   4,603 Total AFS debt securities 41,073   227,066   8,012   —   276,151 Loans and leases —   6,060   2,744   —   8,804 Mortgage servicing rights —   —   7,378   —   7,378 Loans held-for-sale —   4,243   3,387   —   7,630 Other assets 18,963   13,886   4,235   —   37,084 Total assets $ 144,677   $ 2,279,427   $ 51,577   $ (1,808,839 )   $ 666,842 Liabilities                   Interest-bearing deposits in U.S. offices $ —   $ 3,297   $ —   $ —   $ 3,297 Federal funds purchased and securities loaned or sold under agreements to repurchase —   34,235   —   —   34,235 Trading account liabilities:                   U.S. government and agency securities 19,120   1,590   —   —   20,710 Equity securities 13,259   1,335   —   —   14,594 Non-U.S. sovereign debt 16,760   680   —   —   17,440 Corporate securities and other 829   6,821   114   —   7,764 Total trading account liabilities 49,968   10,426   114   —   60,508 Derivative liabilities (3) 2,055   1,850,804   8,500   (1,801,839 )   59,520 Other short-term borrowings —   6,558   —   —   6,558 Accrued expenses and other liabilities 13,832   1,897   14   —   15,743 Long-term debt —   43,296   2,943   —   46,239 Total liabilities $ 65,855   $ 1,950,513   $ 11,571   $ (1,801,839 )   $ 226,100 (1)  Gross transfers between Level 1 and Level 2 during 2011 were not significant. (2)  Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (3)  For further disaggregation of derivative assets and liabilities, see Note 3 – Derivatives.
Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings	Level 3 – Fair Value Measurements (1)                                         2011           Gross       (Dollars in millions) Balance January 1 2011 Consolidation of VIEs Gains (Losses) in Earnings Gains (Losses) in OCI Purchases Sales Issuances Settlements Gross Transfers into Level 3  Gross Transfers out of Level 3  Balance December 31 2011 Trading account assets:                       Corporate securities, trading loans and other $ 7,751 $ — $ 490 $ — $ 5,683 $ (6,664 ) $ — $ (1,362 ) $ 1,695 $ (713 ) $ 6,880 Equity securities 557 — 49 — 335 (362 ) — (140 ) 132 (27 ) 544 Non-U.S. sovereign debt 243 — 87 — 188 (137 ) — (3 ) 8 (44 ) 342 Mortgage trading loans and ABS 6,908 — 442 — 2,222 (4,713 ) — (440 ) 75 (805 ) 3,689 Total trading account assets 15,459 — 1,068 — 8,428 (11,876 ) — (1,945 ) 1,910 (1,589 ) 11,455 Net derivative assets (2) 7,745 — 5,199 — 1,235 (1,553 ) — (7,779 ) 1,199 (180 ) 5,866 AFS debt securities:                       Mortgage-backed securities:                       Agency 4 — — — 14 (11 ) — — 34 (4 ) 37 Agency collateralized mortgage obligations — — — — 56 (56 ) — — — — — Non-agency residential 1,468 — (158 ) 41 11 (307 ) — (568 ) 373 — 860 Non-agency commercial 19 — — — 15 — — — 6 — 40 Non-U.S. securities 3 — — — — — — — 88 (91 ) — Corporate/Agency bonds 137 — (12 ) (8 ) 304 (17 ) — — 7 (249 ) 162 Other taxable securities 13,018 — 26 21 3,876 (2,245 ) — (5,112 ) 2 (5,321 ) 4,265 Tax-exempt securities 1,224 — 21 (35 ) 2,862 (92 ) — (697 ) 38 (673 ) 2,648 Total AFS debt securities 15,873 — (123 ) 19 7,138 (2,728 ) — (6,377 ) 548 (6,338 ) 8,012 Loans and leases (3, 4) 3,321 5,194 (55 ) — 21 (2,644 ) 3,118 (1,830 ) 5 (4,386 ) 2,744 Mortgage servicing rights (4) 14,900 — (5,661 ) — — (896 ) 1,656 (2,621 ) — — 7,378 Loans held-for-sale (3) 4,140 — 36 — 157 (483 ) — (961 ) 565 (67 ) 3,387 Other assets (5) 6,922 — 140 — 1,932 (2,391 ) — (768 ) 375 (1,975 ) 4,235 Trading account liabilities – Corporate securities and other (7 ) — 4 — 133 (189 ) — — (65 ) 10 (114 ) Other short-term borrowings (3) (706 ) — (30 ) — — — — 86 — 650 — Accrued expenses and other liabilities (3) (828 ) — 61 — — (2 ) (9 ) 3 — 761 (14 ) Long-term debt (3) (2,986 ) — (188 ) — 520 (72 ) (520 ) 838 (2,111 ) 1,576 (2,943 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  Net derivatives include derivative assets of $14.4 billion and derivative liabilities of $8.5 billion. (3)  Amounts represent instruments that are accounted for under the fair value option. (4)  Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. (5)  Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments.                                 Level 3 – Fair Value Measurements (1)                                                       2010 (Dollars in millions) Balance January 1 2010   Consolidation of VIEs   Gains (Losses) in Earnings   Gains (Losses) in OCI   Purchases, Issuances and Settlements   Gross Transfers into Level 3   Gross Transfers out of Level 3    Balance December 31 2010 Trading account assets:                               Corporate securities, trading loans and other $ 11,080   $ 117   $ 848   $ —   $ (4,852 )   $ 2,599   $ (2,041 )   $ 7,751 Equity securities 1,084   —   (81 )   —   (342 )   131   (169 )   623 Non-U.S. sovereign debt 1,143   —   (138 )   —   (157 )   115   (720 )   243 Mortgage trading loans and ABS 7,770   175   653   —   (1,659 )   396   (427 )   6,908 Total trading account assets 21,077   292   1,282   —   (7,010 )   3,241   (3,357 )   15,525 Net derivative assets (2) 7,863   —   8,118   —   (8,778 )   1,067   (525 )   7,745 AFS debt securities:                               Mortgage-backed securities:                               Agency —   —   —   —   4   —   —   4 Non-agency residential 7,216   113   (646 )   (169 )   (6,767 )   1,909   (188 )   1,468 Non-agency commercial 258   —   (13 )   (31 )   (178 )   71   (88 )   19 Non-U.S. securities 468   —   (125 )   (75 )   (321 )   56   —   3 Corporate/Agency bonds 927   —   (3 )   47   (847 )   32   (19 )   137 Other taxable securities 9,854   5,603   (296 )   44   (3,263 )   1,119   (43 )   13,018 Tax-exempt securities 1,623   —   (25 )   (9 )   (574 )   316   (107 )   1,224 Total AFS debt securities 20,346   5,716   (1,108 )   (193 )   (11,946 )   3,503   (445 )   15,873 Loans and leases (3) 4,936   —   (89 )   —   (1,526 )   —   —   3,321 Mortgage servicing rights 19,465   —   (4,321 )   —   (244 )   —   —   14,900 Loans held-for-sale (3) 6,942   —   482   —   (3,714 )   624   (194 )   4,140 Other assets (4) 7,821   —   1,946   —   (2,612 )   —   (299 )   6,856 Trading account liabilities:                               Non-U.S. sovereign debt (386 )   —   23   —   (17 )   —   380   — Corporate securities and other (10 )   —   (5 )   —   11   (52 )   49   (7 ) Total trading account liabilities (396 )   —   18   —   (6 )   (52 )   429   (7 ) Other short-term borrowings (3) (707 )   —   (95 )   —   96   —   —   (706 ) Accrued expenses and other liabilities (3) (891 )   —   146   —   (83 )   —   —   (828 ) Long-term debt (3) (4,660 )   —   697   —   1,074   (1,881 )   1,784   (2,986 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  Net derivatives include derivative assets of $18.8 billion and derivative liabilities of $11.0 billion. (3)  Amounts represent instruments that are accounted for under the fair value option. (4)  Other assets is primarily comprised of AFS marketable equity securities. The following tables present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2012, 2011 and 2010, including net realized and unrealized gains (losses) included in earnings and accumulated OCI.                       Level 3 – Fair Value Measurements (1)                                       2012         Gross       (Dollars in millions) Balance January 1 2012 Gains (Losses) in Earnings Gains (Losses) in OCI Purchases Sales Issuances Settlements Gross Transfers into Level 3  Gross Transfers out of Level 3  Balance December 31 2012 Trading account assets:                     Corporate securities, trading loans and other (2) $ 6,880 $ 195 $ — $ 2,798 $ (4,556 ) $ — $ (1,077 ) $ 436 $ (950 ) $ 3,726 Equity securities 544 31 — 201 (271 ) — 27 90 (77 ) 545 Non-U.S. sovereign debt 342 8 — 388 (359 ) — (5 ) — (21 ) 353 Mortgage trading loans and ABS (2) 3,689 215 — 2,574 (1,536 ) — (678 ) 844 (173 ) 4,935 Total trading account assets 11,455 449 — 5,961 (6,722 ) — (1,733 ) 1,370 (1,221 ) 9,559 Net derivative assets (3) 5,866 (221 ) — 893 (1,012 ) — (3,328 ) (269 ) (461 ) 1,468 AFS debt securities:                     Mortgage-backed securities:                     Agency 37 — — — — — (4 ) — (33 ) — Non-agency residential 860 (69 ) 19 — (306 ) — (2 ) — (502 ) — Non-agency commercial 40 — — — (24 ) — (6 ) — — 10 Corporate/Agency bonds 162 (2 ) — (2 ) — — (39 ) — (27 ) 92 Other taxable securities 4,265 23 26 3,196 (28 ) — (3,345 ) — (209 ) 3,928 Tax-exempt securities 2,648 61 20 — (133 ) — (1,535 ) — — 1,061 Total AFS debt securities 8,012 13 65 3,194 (491 ) — (4,931 ) — (771 ) 5,091 Loans and leases (4, 5) 2,744 334 — 564 (1,520 ) — (274 ) 450 (11 ) 2,287 Mortgage servicing rights (5) 7,378 (430 ) — — (122 ) 374 (1,484 ) — — 5,716 Loans held-for-sale (4) 3,387 352 — 794 (834 ) — (414 ) 80 (632 ) 2,733 Other assets (6) 4,235 (54 ) — 109 (1,039 ) 270 (381 ) — (11 ) 3,129 Trading account liabilities – Corporate securities and other (114 ) 4 — 116 (136 ) — 80 (68 ) 54 (64 ) Other short-term borrowings (4) — — — — — (232 ) 232 — — — Accrued expenses and other liabilities (4) (14 ) (4 ) — 8 — (9 ) — — 4 (15 ) Long-term debt (4) (2,943 ) (307 ) — 290 (33 ) (259 ) 1,239 (2,040 ) 1,752 (2,301 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  During 2012, approximately $900 million was reclassified from Trading account assets - Corporate securities, trading loans and other to Trading account assets - Mortgage trading loans and ABS. In the table above, this reclassification is presented as a sale of Trading account assets - Corporate securities, trading loans and other and as a purchase of Trading account assets - Mortgage trading loans and ABS. (3)  Net derivatives include derivative assets of $8.1 billion and derivative liabilities of $6.6 billion. (4)  Amounts represent instruments that are accounted for under the fair value option. (5)  Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales. (6)  Other assets is primarily comprised of net monoline exposure to a single counterparty and private equity investments.
Level 3 Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date	The following tables summarize changes in unrealized gains (losses) recorded in earnings during 2012, 2011 and 2010 for Level 3 assets and liabilities that were still held at December 31, 2012, 2011 and 2010. These amounts include changes in fair value on loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option.                     Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date                       2012 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ (19 )   $ —   $ —   $ (19 ) Equity securities —   17   —   —   17 Non-U.S. sovereign debt —   20   —   —   20 Mortgage trading loans and ABS —   36   —   —   36 Total trading account assets —   54   —   —   54 Net derivative assets —   (2,782 )   2,020   —   (762 ) AFS debt securities – Other taxable securities —   2   —   —   2 Loans and leases (2) —   —   —   291   291 Mortgage servicing rights —   —   (1,100 )   —   (1,100 ) Loans held-for-sale (2) —   —   121   168   289 Other assets 141   —   (71 )   (74 )   (4 ) Trading account liabilities – Corporate securities and other —   4   —   —   4 Accrued expenses and other liabilities (2) —   —   —   (2 )   (2 ) Long-term debt (2) —   (136 )   —   (173 )   (309 ) Total $ 141   $ (2,858 )   $ 970   $ 210   $ (1,537 )                       2011 Trading account assets:                   Corporate securities, trading loans and other $ —   $ (86 )   $ —   $ —   $ (86 ) Equity securities —   (60 )   —   —   (60 ) Non-U.S. sovereign debt —   101   —   —   101 Mortgage trading loans and ABS —   30   —   —   30 Total trading account assets —   (15 )   —   —   (15 ) Net derivative assets —   1,430   1,351   —   2,781 AFS debt securities:                   Non-agency residential MBS —   —   —   (195 )   (195 ) Corporate/Agency bonds —   —   —   (14 )   (14 ) Other taxable securities —   —   —   13   13 Total AFS debt securities —   —   —   (196 )   (196 ) Loans and leases (2) —   —   —   (260 )   (260 ) Mortgage servicing rights —   —   (6,958 )   —   (6,958 ) Loans held-for-sale (2) —   —   (153 )   5   (148 ) Other assets (309 )   —   (53 )   (51 )   (413 ) Trading account liabilities – Corporate securities and other —   3   —   —   3 Long-term debt (2) —   (107 )   —   (94 )   (201 ) Total $ (309 )   $ 1,311   $ (5,813 )   $ (596 )   $ (5,407 ) (1)  Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option.                     Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date                       2010 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ 289   $ —   $ —   $ 289 Equity securities —   (50 )   —   —   (50 ) Non-U.S. sovereign debt —   (144 )   —   —   (144 ) Mortgage trading loans and ABS —   227   —   —   227 Total trading account assets —   322   —   —   322 Net derivative assets —   (945 )   676   —   (269 ) Non-agency residential MBS AFS debt securities —   —   (2 )   (162 )   (164 ) Loans and leases (2) —   —   —   (142 )   (142 ) Mortgage servicing rights —   —   (5,740 )   —   (5,740 ) Loans held-for-sale (2) —   10   (9 )   258   259 Other assets 50   —   (22 )   —   28 Trading account liabilities – Non-U.S. sovereign debt —   52   —   —   52 Other short-term borrowings (2) —   —   (46 )   —   (46 ) Accrued expenses and other liabilities (2) —   —   —   (182 )   (182 ) Long-term debt (2) —   585   —   43   628 Total $ 50   $ 24   $ (5,143 )   $ (185 )   $ (5,254 ) (1)  Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option.
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis	The amounts below represent only balances measured at fair value during 2012, 2011 and 2010, and still held as of the reporting date.                 Assets Measured at Fair Value on a Nonrecurring Basis                   December 31   2012   2011 (Dollars in millions) Level 2   Level 3   Level 2   Level 3 Assets               Loans held-for-sale $ 5,692   $ 1,136   $ 2,662   $ 1,008 Loans and leases 21   9,184   9   10,629 Foreclosed properties (1) 33   1,918   —   2,531 Other assets 36   12   44   885   Gains (Losses) (Dollars in millions) 2012   2011   2010 Assets           Loans held-for-sale $ (8 )   $ (181 )   $ 174 Loans and leases (2) (3,116 )   (4,813 )   (6,074 ) Foreclosed properties (188 )   (333 )   (240 ) Other assets (16 )   —   (50 ) (1)  Amounts are included in other assets on the Corporation’s Consolidated Balance Sheet and represent fair value and related losses on foreclosed properties that were written down subsequent to their initial classification as foreclosed properties. (2)  Losses represent charge-offs on real estate-secured loans.
Fair Value Inputs, Assets, Quantitative Information	The following tables present information about significant unobservable inputs related to the Corporation’s material categories of Level 3 financial assets and liabilities at December 31, 2012.             Quantitative Information about Level 3 Fair Value Measurements             (Dollars in millions)     Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (1)           Instruments backed by residential real estate assets $ 4,478 Discounted cash flow, Market comparables Yield 2% to 25% 6 % Trading account assets – Mortgage trading loans and ABS 459 Prepayment speed 1% to 30% CPR 11 % Loans and leases 1,286 Default rate 0% to 44% CDR 8 % Loans held-for-sale 2,733 Loss severity 6% to 85% 36 % Instruments backed by commercial real estate assets $ 1,910 Discounted cash flow Yield 5% n/a Other assets 1,910 Loss severity 51% to 100% 88 % Commercial loans, debt securities and other $ 10,778 Discounted cash flow, Market comparables Yield 0% to 25% 4 % Trading account assets – Corporate securities, trading loans and other 2,289 Enterprise value/EBITDA multiple 2x to 11x 5 x Trading account assets – Mortgage trading loans and ABS 4,476 Prepayment speed 5% to 30% 20 % AFS debt securities – Other taxable securities 3,012 Default rate 1% to 5% 4 % Loans and leases 1,001 Loss severity 25% to 40% 35 % Auction rate securities $ 3,414 Discounted cash flow, Market comparables Discount rate 0% to 10% 4 % Trading account assets – Corporate securities, trading loans and other 1,437 Projected tender price/Re-financing level 50% to 100% 92 % AFS debt securities – Other taxable securities 916     AFS debt securities – Tax-exempt securities 1,061       Structured liabilities           Long-term debt (2) $ (2,301 ) Industry standard derivative pricing (3) Equity correlation 30% to 97% n/m     Long-dated volatilities 20% to 70% n/m           (1)  The categories are aggregated based on product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 261: Trading account assets – Corporate securities, trading loans and other of $3.7 billion, Trading account assets – Mortgage trading loans and ABS of $4.9 billion, AFS debt securities – Other taxable securities of $3.9 billion, AFS debt securities – Tax-exempt securities of $1.1 billion, Loans and leases of $2.3 billion, LHFS of $2.7 billion and Other assets of $1.9 billion. (2)  For additional information on the ranges of inputs for equity correlation and long-dated volatilities, see the qualitative equity derivatives discussion on page 268. (3)  Includes models such as Monte Carlo simulation and Black-Scholes. n/a = not applicable n/m = not meaningful CPR = Constant Prepayment Rate CDR = Constant Default Rate EBITDA = Earnings before interest, taxes, depreciation and amortization           Quantitative Information about Level 3 Fair Value Measurements (continued)         (Dollars in millions)     Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Net derivatives assets         Credit derivatives $ 2,327 Discounted cash flow, Stochastic recovery correlation model Yield 2% to 25%     Credit spreads 58 bps to 615 bps     Upfront points 25 points to 99 points     Spread to index -2,080 bps to 1,972 bps     Credit correlation 19% to 75%     Prepayment speed 3% to 30% CPR     Default rate 0% to 8% CDR     Loss severity 25% to 42% Equity derivatives $ (1,295 ) Industry standard derivative pricing (4) Equity correlation 30% to 97%     Long-dated volatilities 20% to 70%         Commodity derivatives $ (5 ) Discounted cash flow Long-term natural gas basis -$0.30 to $0.30 Interest rate derivatives $ 441 Industry standard derivative pricing (4) Correlation (IR/IR) 15% to 99%     Correlation (FX/IR) -65% to 50%     Long-dated inflation rates 2% to 3%     Long-dated inflation volatilities 0% to 1%     Long-dated volatilities (FX) 5% to 36%     Long-dated swap rates 8% to 10% Total net derivative assets $ 1,468       (4) Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates. CPR = Constant Prepayment Rate CDR = Constant Default Rate IR = Interest Rate FX = Foreign Exchange The table below presents information about significant unobservable inputs related to the Corporation’s nonrecurring Level 3 financial assets and liabilities at December 31, 2012.             Quantitative Information about Nonrecurring Level 3 Fair Value Measurements             (Dollars in millions)     Inputs Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Instruments backed by residential real estate assets $ 9,932 Discounted cash flow, Market comparables Yield 3% to 5% 3 % Loans held-for-sale 748 Prepayment speed 3% to 30% 15 % Loans and leases 9,184 Default rate 0% to 55% 7 %     Loss severity 6% to 66% 48 %     OREO discount 0% to 28% 15 %     Cost to sell 8% n/a Instruments backed by commercial real estate assets $ 388 Discounted cash flow Yield 4% to 13% 6 % Loans held-for-sale 388 Loss severity 24% to 88% 53 %
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings	The following tables summarize gains (losses) due to changes in fair value, including both realized and unrealized gains (losses), recorded in earnings for Level 3 assets and liabilities during 2012, 2011 and 2010. These amounts include gains (losses) on loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option.                     Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings                       2012 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ 195   $ —   $ —   $ 195 Equity securities —   31   —   —   31 Non-U.S. sovereign debt —   8   —   —   8 Mortgage trading loans and ABS —   215   —   —   215 Total trading account assets —   449   —   —   449 Net derivative assets —   (3,208 )   2,987   —   (221 ) AFS debt securities:                   Non-agency residential MBS —   —   —   (69 )   (69 ) Corporate/Agency bonds —   —   —   (2 )   (2 ) Other taxable securities —   2   —   21   23 Tax-exempt securities —   —   —   61   61 Total AFS debt securities —   2   —   11   13 Loans and leases (2) —   —   —   334   334 Mortgage servicing rights —   —   (430 )   —   (430 ) Loans held-for-sale (2) —   —   148   204   352 Other assets 97   —   (74 )   (77 )   (54 ) Trading account liabilities – Corporate securities and other —   4   —   —   4 Accrued expenses and other liabilities (2) —   —   —   (4 )   (4 ) Long-term debt (2) —   (133 )   —   (174 )   (307 ) Total $ 97   $ (2,886 )   $ 2,631   $ 294   $ 136                       2011 Trading account assets:                   Corporate securities, trading loans and other $ —   $ 490   $ —   $ —   $ 490 Equity securities —   49   —   —   49 Non-U.S. sovereign debt —   87   —   —   87 Mortgage trading loans and ABS —   442   —   —   442 Total trading account assets —   1,068   —   —   1,068 Net derivative assets —   1,516   3,683   —   5,199 AFS debt securities:                   Non-agency residential MBS —   —   —   (158 )   (158 ) Corporate/Agency bonds —   —   —   (12 )   (12 ) Other taxable securities —   16   —   10   26 Tax-exempt securities —   (3 )   —   24   21 Total AFS debt securities —   13   —   (136 )   (123 ) Loans and leases (2) —   —   (13 )   (42 )   (55 ) Mortgage servicing rights —   —   (5,661 )   —   (5,661 ) Loans held-for-sale (2) —   —   (108 )   144   36 Other assets 242   —   (51 )   (51 )   140 Trading account liabilities – Corporate securities and other —   4   —   —   4 Other short-term borrowings (2) —   —   (30 )   —   (30 ) Accrued expenses and other liabilities (2) —   (10 )   71   —   61 Long-term debt (2) —   (106 )   —   (82 )   (188 ) Total $ 242   $ 2,485   $ (2,109 )   $ (167 )   $ 451 (1)  Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option.                     Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings                       2010 (Dollars in millions) Equity Investment Income (Loss)   Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other Income (Loss)   Total Trading account assets:                   Corporate securities, trading loans and other $ —   $ 848   $ —   $ —   $ 848 Equity securities —   (81 )   —   —   (81 ) Non-U.S. sovereign debt —   (138 )   —   —   (138 ) Mortgage trading loans and ABS —   653   —   —   653 Total trading account assets —   1,282   —   —   1,282 Net derivative assets —   (1,257 )   9,375   —   8,118 AFS debt securities:                   Non-agency MBS:                   Residential —   —   (16 )   (630 )   (646 ) Commercial —   —   —   (13 )   (13 ) Non-U.S. securities —   —   —   (125 )   (125 ) Corporate/Agency bonds —   —   —   (3 )   (3 ) Other taxable securities —   (295 )   —   (1 )   (296 ) Tax-exempt securities —   23   —   (48 )   (25 ) Total AFS debt securities —   (272 )   (16 )   (820 )   (1,108 ) Loans and leases (2) —   —   —   (89 )   (89 ) Mortgage servicing rights —   —   (4,321 )   —   (4,321 ) Loans held-for-sale (2) —   —   72   410   482 Other assets 1,967   —   (21 )   —   1,946 Trading account liabilities:                   Non-U.S. sovereign debt —   23   —   —   23 Corporate securities and other —   (5 )   —   —   (5 ) Total trading account liabilities —   18   —   —   18 Other short-term borrowings (2) —   —   (95 )   —   (95 ) Accrued expenses and other liabilities (2) —   (26 )   —   172   146 Long-term debt (2) —   677   —   20   697 Total $ 1,967   $ 422   $ 4,994   $ (307 )   $ 7,076 (1)  Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent instruments that are accounted for under the fair value option.