Fair Value Measurements (Tables)

v2.4.0.8

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2013
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, 2013 and 2012, including financial instruments which the Corporation accounts for under the fair value option, are summarized in the following tables.                       December 31, 2013   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 $ —   $ 75,614   $ —   $ —   $ 75,614 Trading account assets:                   U.S. government and agency securities (3) 34,222   14,625   —   —   48,847 Corporate securities, trading loans and other 1,147   27,746   3,559   —   32,452 Equity securities 41,324   22,741   386   —   64,451 Non-U.S. sovereign debt 24,357   12,399   468   —   37,224 Mortgage trading loans and ABS —   13,388   4,631   —   18,019 Total trading account assets 101,050   90,899   9,044   —   200,993 Derivative assets (4) 2,374   910,602   7,277   (872,758 )   47,495 AFS debt securities:                   U.S. Treasury and agency securities 6,591   2,363   —   —   8,954 Mortgage-backed securities:                   Agency —   164,935   —   —   164,935 Agency-collateralized mortgage obligations —   22,492   —   —   22,492 Non-agency residential —   6,239   —   —   6,239 Commercial —   2,480   —   —   2,480 Non-U.S. securities 3,698   3,415   107   —   7,220 Corporate/Agency bonds —   873   —   —   873 Other taxable securities 20   12,963   3,847   —   16,830 Tax-exempt securities —   5,122   806   —   5,928 Total AFS debt securities 10,309   220,882   4,760   —   235,951 Other debt securities carried at fair value:                   U.S. Treasury and agency securities 4,062   —   —   —   4,062 Mortgage-backed securities:                   Agency —   16,500   —   —   16,500 Agency-collateralized mortgage obligations —   218   —   —   218 Commercial —   749   —   —   749 Non-U.S. securities 7,457   3,858   —   —   11,315 Total other debt securities carried at fair value 11,519   21,325   —   —   32,844 Loans and leases —   6,985   3,057   —   10,042 Mortgage servicing rights —   —   5,042   —   5,042 Loans held-for-sale —   5,727   929   —   6,656 Other assets 14,474   1,912   1,669   —   18,055 Total assets $ 139,726   $ 1,333,946   $ 31,778   $ (872,758 )   $ 632,692 Liabilities                   Interest-bearing deposits in U.S. offices $ —   $ 1,899   $ —   $ —   $ 1,899 Federal funds purchased and securities loaned or sold under agreements to repurchase —   33,684   —   —   33,684 Trading account liabilities:                   U.S. government and agency securities 26,915   348   —   —   27,263 Equity securities 23,874   3,711   —   —   27,585 Non-U.S. sovereign debt 20,755   1,387   —   —   22,142 Corporate securities and other 518   5,926   35   —   6,479 Total trading account liabilities 72,062   11,372   35   —   83,469 Derivative liabilities (4) 1,968   897,107   7,301   (868,969 )   37,407 Short-term borrowings —   1,520   —   —   1,520 Accrued expenses and other liabilities 10,130   1,093   10   —   11,233 Long-term debt —   45,045   1,990   —   47,035 Total liabilities $ 84,160   $ 991,720   $ 9,336   $ (868,969 )   $ 216,247 (1)  During 2013, $500 million of other assets were transferred from Level 1 to Level 2 primarily due to a restriction that became effective for a private equity investment that was subsequently sold once the restriction was lifted. (2)  Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties. (3)  Includes $17.2 billion of government-sponsored enterprise obligations. (4)  For further disaggregation of derivative assets and liabilities, see Note 2 – Derivatives.                       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 (3) 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 29,254   13,139   353   —   42,746 Mortgage trading loans and ABS —   11,905   4,935   —   16,840 Total trading account assets 116,345   101,871   9,559   —   227,775 Derivative assets (4) 2,997   1,372,398   8,073   (1,329,971 )   53,497 AFS debt securities:                   U.S. Treasury 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 Other debt securities carried at fair value:                   U.S. Treasury and agency securities 491   —   —   —   491 Mortgage-backed securities:                   Agency —   13,073   —   —   13,073 Agency-collateralized mortgage obligations —   929   —   —   929 Non-U.S. securities 9,151   300   —   —   9,451 Total other debt securities carried at fair value 9,642   14,302   —   —   23,944 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 18,535   4,826   3,129   —   26,490 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 (4) 2,859   1,355,309   6,605   (1,318,757 )   46,016 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)  Includes $30.6 billion of government-sponsored enterprise obligations. (4)  For further disaggregation of derivative assets and liabilities, see Note 2 – 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 ) 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. 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 2013, 2012 and 2011, including net realized and unrealized gains (losses) included in earnings and accumulated OCI.                       Level 3 – Fair Value Measurements (1)                                       2013         Gross       (Dollars in millions) Balance January 1 2013 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 2013 Trading account assets:                     Corporate securities, trading loans and other $ 3,726 $ 242 $ — $ 3,848 $ (3,110 ) $ 59 $ (651 ) $ 890 $ (1,445 ) $ 3,559 Equity securities 545 74 — 96 (175 ) — (100 ) 70 (124 ) 386 Non-U.S. sovereign debt 353 50 — 122 (18 ) — (36 ) 2 (5 ) 468 Mortgage trading loans and ABS 4,935 53 — 2,514 (1,993 ) — (868 ) 20 (30 ) 4,631 Total trading account assets 9,559 419 — 6,580 (5,296 ) 59 (1,655 ) 982 (1,604 ) 9,044 Net derivative assets (2) 1,468 (297 ) — 824 (1,274 ) — (1,362 ) (10 ) 627 (24 ) AFS debt securities:                     Commercial MBS 10 — — — — — (10 ) — — — Non-U.S. securities — 5 2 1 (1 ) — — 100 — 107 Corporate/Agency bonds 92 — 4 — — — — — (96 ) — Other taxable securities 3,928 9 15 1,055 — — (1,155 ) — (5 ) 3,847 Tax-exempt securities 1,061 3 19 — — — (109 ) — (168 ) 806 Total AFS debt securities 5,091 17 40 1,056 (1 ) — (1,274 ) 100 (269 ) 4,760 Loans and leases (3, 4) 2,287 98 — 310 (128 ) 1,252 (757 ) 19 (24 ) 3,057 Mortgage servicing rights (4) 5,716 1,941 — — (2,044 ) 472 (1,043 ) — — 5,042 Loans held-for-sale (3) 2,733 62 — 8 (402 ) 4 (1,507 ) 34 (3 ) 929 Other assets (5) 3,129 (288 ) — 46 (383 ) — (1,019 ) 239 (55 ) 1,669 Trading account liabilities – Corporate securities and other (64 ) 10 — 43 (54 ) (5 ) — (9 ) 44 (35 ) Accrued expenses and other liabilities (3) (15 ) 30 — — — (751 ) 724 (1 ) 3 (10 ) Long-term debt (3) (2,301 ) 13 — 358 (4 ) (172 ) 258 (1,331 ) 1,189 (1,990 ) (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 $7.3 billion and derivative liabilities of $7.3 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 private equity investments and certain long-term fixed-rate margin loans that are accounted for under the fair value option.                       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 ) 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 table below summarizes changes in unrealized gains (losses) recorded in earnings during 2013, 2012 and 2011 for Level 3 assets and liabilities that were still held at December 31, 2013, 2012 and 2011. 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                   2013 (Dollars in millions) Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other (2)   Total Trading account assets:               Corporate securities, trading loans and other $ (130 )   $ —   $ —   $ (130 ) Equity securities 40   —   —   40 Non-U.S. sovereign debt 80   —   —   80 Mortgage trading loans and ABS (174 )   —   —   (174 ) Total trading account assets (184 )   —   —   (184 ) Net derivative assets (1,375 )   42   —   (1,333 ) Loans and leases (3) —   (34 )   152   118 Mortgage servicing rights —   1,541   —   1,541 Loans held-for-sale (3) —   6   57   63 Other assets —   166   14   180 Long-term debt (3) (4 )   —   (32 )   (36 ) Total $ (1,563 )   $ 1,721   $ 191   $ 349                   2012 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 )   456   —   (2,326 ) AFS debt securities – Other taxable securities 2   —   —   2 Loans and leases (3) —   —   214   214 Mortgage servicing rights —   (1,100 )   —   (1,100 ) Loans held-for-sale (3) —   112   168   280 Other assets —   (71 )   50   (21 ) Trading account liabilities – Corporate securities and other 4   —   —   4 Accrued expenses and other liabilities (3) —   —   (2 )   (2 ) Long-term debt (3) (136 )   —   (173 )   (309 ) Total $ (2,858 )   $ (603 )   $ 257   $ (3,204 )                   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   133   —   1,563 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 (3) —   —   94   94 Mortgage servicing rights —   (6,958 )   —   (6,958 ) Loans held-for-sale (3) —   (87 )   5   (82 ) Other assets —   (53 )   (772 )   (825 ) Trading account liabilities – Corporate securities and other 3   —   —   3 Long-term debt (3) (107 )   —   (94 )   (201 ) Total $ 1,311   $ (6,965 )   $ (963 )   $ (6,617 ) (1)  Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts included are primarily recorded in other income (loss). Equity investment gains of $60 million and $141 million, and losses of $309 million recorded on other assets were also included for 2013, 2012 and 2011, respectively. (3)  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 2013, 2012 and 2011, and still held as of the reporting date.                 Assets Measured at Fair Value on a Nonrecurring Basis                   December 31   2013   2012 (Dollars in millions) Level 2   Level 3   Level 2   Level 3 Assets               Loans held-for-sale $ 2,138   $ 115   $ 5,692   $ 1,136 Loans and leases 18   5,240   21   9,184 Foreclosed properties (1) 12   1,258   33   1,918 Other assets 88   —   36   12                       Gains (Losses)       2013   2012   2011 Assets               Loans held-for-sale     $ (71 )   $ (24 )   $ (188 ) Loans and leases (2)     (1,104 )   (3,116 )   (4,813 ) Foreclosed properties (1)     (39 )   (47 )   (167 ) Other assets     (20 )   (16 )   — (1)  Amounts are included in other assets on the Consolidated Balance Sheet and represent fair value of, 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, 2013 and 2012.             Quantitative Information about Level 3 Fair Value Measurements at December 31, 2013             (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 $ 3,443 Discounted cash flow, Market comparables Yield 2% to 25% 6  % Trading account assets – Mortgage trading loans and ABS 363 Prepayment speed 0% to 35% CPR 9  % Loans and leases 2,151 Default rate 1% to 20% CDR 6  % Loans held-for-sale 929 Loss severity 21% to 80% 35  % Commercial loans, debt securities and other $ 12,135 Discounted cash flow, Market comparables Yield 0% to 45% 5  % Trading account assets – Corporate securities, trading loans and other 3,462 Enterprise value/EBITDA multiple 0x to 24x 7 x Trading account assets – Non-U.S. sovereign debt 468 Prepayment speed 5% to 40% 19  % Trading account assets – Mortgage trading loans and ABS 4,268 Default rate 1% to 5% 4  % AFS debt securities – Other taxable securities 3,031 Loss severity 25% to 42% 36  % Loans and leases 906 Duration 1 year to 5 years 4 years Auction rate securities $ 1,719 Discounted cash flow, Market comparables Projected tender price/Refinancing level 60% to 100% 96  % Trading account assets – Corporate securities, trading loans and other 97     AFS debt securities – Other taxable securities 816       AFS debt securities – Tax-exempt securities 806       Structured liabilities           Long-term debt $ (1,990 ) Industry standard derivative pricing (2, 3) Equity correlation 18% to 98% 70  %     Long-dated volatilities 4% to 63% 27  %     Correlation (IR/IR) 24% to 99% 60  %     Long-dated inflation rates 0% to 3% 2  %     Long-dated inflation volatilities 0% to 2% 1  % Net derivatives assets           Credit derivatives $ 1,008 Discounted cash flow, Stochastic recovery correlation model Yield 3% to 25% 14  %     Upfront points 0 points to 100 points 63 points     Spread to index  -1,407 bps to 1,741 bps 91 bps     Credit correlation 14% to 99% 47  %     Prepayment speed 3% to 40% CPR 13  %     Default rate 1% to 5% CDR 3  %     Loss severity 20% to 42% 35  % Equity derivatives $ (1,596 ) Industry standard derivative pricing (2) Equity correlation 18% to 98% 70  %     Long-dated volatilities 4% to 63% 27  % Commodity derivatives $ 6 Discounted cash flow, Industry standard derivative pricing (2) Natural gas forward price $3/MMBtu to $11/MMBtu $6/MMBtu     Correlation 47% to 89% 81  %     Volatilities 9% to 109% 30  % Interest rate derivatives $ 558 Industry standard derivative pricing (3) Correlation (IR/IR) 24% to 99% 60  %     Correlation (FX/IR)  -30% to 40% -4  %     Long-dated inflation rates 0% to 3% 2  %     Long-dated inflation volatilities 0% to 2% 1  %     Long-dated volatilities (FX) 0% to 70% 10  % Total net derivative assets $ (24 )         (1)  The categories are aggregated based upon product type which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 260: Trading account assets – Corporate securities, trading loans and other of $3.6 billion, Trading account assets – Non-U.S. sovereign debt of $468 million, Trading account assets – Mortgage trading loans and ABS of $4.6 billion, AFS debt securities – Other taxable securities of $3.8 billion, AFS debt securities – Tax-exempt securities of $806 million, Loans and leases of $3.1 billion and LHFS of $929 million. (2)  Includes models such as Monte Carlo simulation and Black-Scholes. (3)  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 EBITDA = Earnings before interest, taxes, depreciation and amortization MMBtu = Million British thermal units IR = Interest Rate FX = Foreign Exchange             Quantitative Information about Level 3 Fair Value Measurements for Loans, Securities and Structured Liabilities at December 31, 2012           (Dollars in millions)     Inputs (1) Financial Instrument Fair Value Valuation Technique Significant Unobservable Inputs Ranges of Inputs Weighted Average Loans and Securities (2)           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 10 % Loans and leases 1,286 Default rate 0% to 44% CDR 6 % Loans held-for-sale 2,733 Loss severity 6% to 85% 43 % 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 4% to 5% 4 % Trading account assets – Corporate securities, trading loans and other 1,437 Projected tender price/Refinancing 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 $ (2,301 ) Industry standard derivative pricing (3) Equity correlation 30% to 97% n/m     Long-dated volatilities 20% to 70% n/m           Quantitative Information about Level 3 Fair Value Measurements for Net Derivative Assets at December 31, 2012         (Dollars in millions)     Inputs (1) 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 (3) Equity correlation 30% to 97%     Long-dated volatilities 20% to 70% Commodity derivatives $ (5 ) Discounted cash flow Natural gas forward price $3/MMBtu to $12/MMBtu 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       (1)  At December 31, 2012, weighted averages were disclosed for all loans and securities. For more information on the ranges of inputs for significant unobservable inputs for structured liabilities and net derivative assets, see the qualitative discussion on page 268. (2)  The categories are aggregated based upon 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. (3)  Includes models such as Monte Carlo simulation and Black-Scholes. (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. n/a = not applicable n/m = not meaningful CPR = Constant Prepayment Rate CDR = Constant Default Rate EBITDA = Earnings before interest, taxes, depreciation and amortization MMBtu = Million British thermal units 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, 2013 and 2012.             Quantitative Information about Nonrecurring Level 3 Fair Value Measurements               December 31, 2013 (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 $ 5,240 Market comparables OREO discount 0% to 19% 8 % Loans and leases 5,240 Cost to sell 8 % n/a   December 31, 2012 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 % n/a = not applicable
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 2013, 2012 and 2011. 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                   2013 (Dollars in millions) Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other (2)   Total Trading account assets:               Corporate securities, trading loans and other $ 242   $ —   $ —   $ 242 Equity securities 74   —   —   74 Non-U.S. sovereign debt 50   —   —   50 Mortgage trading loans and ABS 53   —   —   53 Total trading account assets 419   —   —   419 Net derivative assets (1,224 )   927   —   (297 ) AFS debt securities:               Non-U.S. securities —   —   5   5 Other taxable securities —   —   9   9 Tax-exempt securities —   —   3   3 Total AFS debt securities —   —   17   17 Loans and leases (3) —   (38 )   136   98 Mortgage servicing rights —   1,941   —   1,941 Loans held-for-sale (3) —   2   60   62 Other assets —   122   (410 )   (288 ) Trading account liabilities – Corporate securities and other 10   —   —   10 Accrued expenses and other liabilities (3) —   30   —   30 Long-term debt (3) 45   —   (32 )   13 Total $ (750 )   $ 2,984   $ (229 )   $ 2,005                   2012 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 (3) —   —   334   334 Mortgage servicing rights —   (430 )   —   (430 ) Loans held-for-sale (3) —   148   204   352 Other assets —   (74 )   20   (54 ) Trading account liabilities – Corporate securities and other 4   —   —   4 Accrued expenses and other liabilities (3) —   —   (4 )   (4 ) Long-term debt (3) (133 )   —   (174 )   (307 ) Total $ (2,886 )   $ 2,631   $ 391   $ 136 (1)  Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts included are primarily recorded in other income (loss). Equity investment gains of $84 million and $97 million recorded on other assets were also included for 2013 and 2012. (3)  Amounts represent instruments that are accounted for under the fair value option.                 Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings (continued)                   2011 (Dollars in millions) Trading Account Profits (Losses)   Mortgage Banking Income (Loss) (1)   Other (2)   Total 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 (3) —   (13 )   (42 )   (55 ) Mortgage servicing rights —   (5,661 )   —   (5,661 ) Loans held-for-sale (3) —   (108 )   144   36 Other assets —   (51 )   191   140 Trading account liabilities – Corporate securities and other 4   —   —   4 Short-term borrowings (3) —   (30 )   —   (30 ) Accrued expenses and other liabilities (3) (10 )   71   —   61 Long-term debt (3) (106 )   —   (82 )   (188 ) Total $ 2,485   $ (2,109 )   $ 75   $ 451 (1)  Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts included are primarily recorded in other income (loss). Equity investment gains of $242 million recorded on other assets were also included for 2011. (3)  Amounts represent instruments that are accounted for under the fair value option.