Fair Value Measurements (Tables)

v2.4.0.6

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value Assets and liabilities measured on Recurring basis	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 were not significant during 2011. (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 4 – Derivatives.                       December 31, 2010   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 $ —   $ 78,599   $ —   $ —   $ 78,599 Trading account assets:                   U.S. government and agency securities 28,237   32,574   —   —   60,811 Corporate securities, trading loans and other 732   40,869   7,751   —   49,352 Equity securities 23,249   8,257   623   —   32,129 Non-U.S. sovereign debt 24,934   8,346   243   —   33,523 Mortgage trading loans and ABS —   11,948   6,908   —   18,856 Total trading account assets 77,152   101,994   15,525   —   194,671 Derivative assets (3) 2,627   1,516,244   18,773   (1,464,644 )   73,000 AFS debt securities:                   U.S. Treasury securities and agency securities 46,003   3,102   —   —   49,105 Mortgage-backed securities:                   Agency —   191,213   4   —   191,217 Agency-collateralized mortgage obligations —   37,017   —   —   37,017 Non-agency residential —   21,649   1,468   —   23,117 Non-agency commercial —   6,833   19   —   6,852 Non-U.S. securities 1,440   2,696   3   —   4,139 Corporate/Agency bonds —   5,154   137   —   5,291 Other taxable securities 20   2,354   13,018   —   15,392 Tax-exempt securities —   4,273   1,224   —   5,497 Total AFS debt securities 47,463   274,291   15,873   —   337,627 Loans and leases —   —   3,321   —   3,321 Mortgage servicing rights —   —   14,900   —   14,900 Loans held-for-sale —   21,802   4,140   —   25,942 Other assets 32,624   31,051   6,856   —   70,531 Total assets $ 159,866   $ 2,023,981   $ 79,388   $ (1,464,644 )   $ 798,591 Liabilities                   Interest-bearing deposits in U.S. offices $ —   $ 2,732   $ —   $ —   $ 2,732 Federal funds purchased and securities loaned or sold under agreements to repurchase —   37,424   —   —   37,424 Trading account liabilities:                   U.S. government and agency securities 23,357   5,983   —   —   29,340 Equity securities 14,568   914   —   —   15,482 Non-U.S. sovereign debt 14,748   1,065   —   —   15,813 Corporate securities and other 224   11,119   7   —   11,350 Total trading account liabilities 52,897   19,081   7   —   71,985 Derivative liabilities (3) 1,799   1,492,963   11,028   (1,449,876 )   55,914 Other short-term borrowings —   6,472   706   —   7,178 Accrued expenses and other liabilities 31,470   931   828   —   33,229 Long-term debt —   47,998   2,986   —   50,984 Total liabilities $ 86,166   $ 1,607,601   $ 15,555   $ (1,449,876 )   $ 259,446 (1)  Gross transfers between Level 1 and Level 2 were approximately $1.3 billion during 2010. (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 4 – Derivatives.
Reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	Level 3 – Fair Value Measurements (1)                                               2009 (Dollars in millions) Balance January 1 2009    Merrill Lynch Acquisition   Gains (Losses) Included in Earnings   Gains (Losses) Included in OCI   Purchases, Issuances and Settlements   Transfers into/(out of) Level 3    Balance December 31 2009 Trading account assets:                           Corporate securities, trading loans and other $ 4,540   $ 7,012   $ 370   $ —   $ (2,015 )   $ 1,173   $ 11,080 Equity securities 546   3,848   (396 )   —   (2,425 )   (489 )   1,084 Non-U.S. sovereign debt —   30   136   —   167   810   1,143 Mortgage trading loans and ABS 1,647   7,294   (262 )   —   933   (1,842 )   7,770 Total trading account assets 6,733   18,184   (152 )   —   (3,340 )   (348 )   21,077 Net derivative assets (2) 2,270   2,307   5,526   —   (7,906 )   5,666   7,863 AFS debt securities:                           Non-agency MBS:                           Residential 5,439   2,509   (1,159 )   2,738   (4,187 )   1,876   7,216 Commercial 657   —   (185 )   (7 )   (155 )   (52 )   258 Non-U.S. securities 1,247   —   (79 )   (226 )   (73 )   (401 )   468 Corporate/Agency bonds 1,598   —   (22 )   127   324   (1,100 )   927 Other taxable securities 9,599   —   (75 )   669   815   (1,154 )   9,854 Tax-exempt securities 162   —   2   26   788   645   1,623 Total AFS debt securities 18,702   2,509   (1,518 )   3,327   (2,488 )   (186 )   20,346 Loans and leases (3) 5,413   2,452   515   —   (3,718 )   274   4,936 Mortgage servicing rights 12,733   209   5,286   —   1,237   —   19,465 Loans held-for-sale (3) 3,382   3,872   678   —   (1,048 )   58   6,942 Other assets (4) 4,157   2,696   1,273   —   (308 )   3   7,821 Trading account liabilities:                           Non-U.S. sovereign debt —   —   (38 )   —   —   (348 )   (386 ) Corporate securities and other —   —   —   —   4   (14 )   (10 ) Total trading account liabilities —   —   (38 )   —   4   (362 )   (396 ) Other short-term borrowings (3) (816 )   —   (11 )   —   120   —   (707 ) Accrued expenses and other liabilities (3) (1,124 )   (1,337 )   1,396   —   174   —   (891 ) Long-term debt (3) —   (7,481 )   (2,310 )   —   830   4,301   (4,660 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  Net derivatives at December 31, 2009 include derivative assets of $23.0 billion and derivative liabilities of $15.2 billion. (3)  Amounts represent items that are accounted for under the fair value option. (4)  Other assets is primarily comprised of AFS marketable equity securities.                                 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 (2) $ 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 (3) 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 (2) 4,936   —   (89 )   —   (1,526 )   —   —   3,321 Mortgage servicing rights 19,465   —   (4,321 )   —   (244 )   —   —   14,900 Loans held-for-sale (2) 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 (2) (707 )   —   (95 )   —   96   —   —   (706 ) Accrued expenses and other liabilities (2) (891 )   —   146   —   (83 )   —   —   (828 ) Long-term debt (2) (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)  Amounts represent items that are accounted for under the fair value option. (3)  Net derivatives at December 31, 2010 include derivative assets of $18.8 billion and derivative liabilities of $11.0 billion. (4)  Other assets is primarily comprised of AFS marketable equity securities.                         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 (2) $ 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 (3) 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 (2, 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 (2) 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 (2) (706 ) — (30 ) — — — — 86 — 650 — Accrued expenses and other liabilities (2) (828 ) — 61 — — (2 ) (9 ) 3 — 761 (14 ) Long-term debt (2) (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)  Amounts represent items that are accounted for under the fair value option. (3)  Net derivatives at December 31, 2011 include derivative assets of $14.4 billion and derivative liabilities of $8.5 billion. (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 Total Realized and Unrealized Gains (Losses) Included in Earnings	Level 3 – Fair Value Measurements (1)                                               2009 (Dollars in millions) Balance January 1 2009    Merrill Lynch Acquisition   Gains (Losses) Included in Earnings   Gains (Losses) Included in OCI   Purchases, Issuances and Settlements   Transfers into/(out of) Level 3    Balance December 31 2009 Trading account assets:                           Corporate securities, trading loans and other $ 4,540   $ 7,012   $ 370   $ —   $ (2,015 )   $ 1,173   $ 11,080 Equity securities 546   3,848   (396 )   —   (2,425 )   (489 )   1,084 Non-U.S. sovereign debt —   30   136   —   167   810   1,143 Mortgage trading loans and ABS 1,647   7,294   (262 )   —   933   (1,842 )   7,770 Total trading account assets 6,733   18,184   (152 )   —   (3,340 )   (348 )   21,077 Net derivative assets (2) 2,270   2,307   5,526   —   (7,906 )   5,666   7,863 AFS debt securities:                           Non-agency MBS:                           Residential 5,439   2,509   (1,159 )   2,738   (4,187 )   1,876   7,216 Commercial 657   —   (185 )   (7 )   (155 )   (52 )   258 Non-U.S. securities 1,247   —   (79 )   (226 )   (73 )   (401 )   468 Corporate/Agency bonds 1,598   —   (22 )   127   324   (1,100 )   927 Other taxable securities 9,599   —   (75 )   669   815   (1,154 )   9,854 Tax-exempt securities 162   —   2   26   788   645   1,623 Total AFS debt securities 18,702   2,509   (1,518 )   3,327   (2,488 )   (186 )   20,346 Loans and leases (3) 5,413   2,452   515   —   (3,718 )   274   4,936 Mortgage servicing rights 12,733   209   5,286   —   1,237   —   19,465 Loans held-for-sale (3) 3,382   3,872   678   —   (1,048 )   58   6,942 Other assets (4) 4,157   2,696   1,273   —   (308 )   3   7,821 Trading account liabilities:                           Non-U.S. sovereign debt —   —   (38 )   —   —   (348 )   (386 ) Corporate securities and other —   —   —   —   4   (14 )   (10 ) Total trading account liabilities —   —   (38 )   —   4   (362 )   (396 ) Other short-term borrowings (3) (816 )   —   (11 )   —   120   —   (707 ) Accrued expenses and other liabilities (3) (1,124 )   (1,337 )   1,396   —   174   —   (891 ) Long-term debt (3) —   (7,481 )   (2,310 )   —   830   4,301   (4,660 ) (1)  Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3. (2)  Net derivatives at December 31, 2009 include derivative assets of $23.0 billion and derivative liabilities of $15.2 billion. (3)  Amounts represent items that are accounted for under the fair value option. (4)  Other assets is primarily comprised of AFS marketable equity securities.                                 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 (2) $ 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 (3) 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 (2) 4,936   —   (89 )   —   (1,526 )   —   —   3,321 Mortgage servicing rights 19,465   —   (4,321 )   —   (244 )   —   —   14,900 Loans held-for-sale (2) 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 (2) (707 )   —   (95 )   —   96   —   —   (706 ) Accrued expenses and other liabilities (2) (891 )   —   146   —   (83 )   —   —   (828 ) Long-term debt (2) (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)  Amounts represent items that are accounted for under the fair value option. (3)  Net derivatives at December 31, 2010 include derivative assets of $18.8 billion and derivative liabilities of $11.0 billion. (4)  Other assets is primarily comprised of AFS marketable equity securities.                         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 (2) $ 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 (3) 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 (2, 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 (2) 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 (2) (706 ) — (30 ) — — — — 86 — 650 — Accrued expenses and other liabilities (2) (828 ) — 61 — — (2 ) (9 ) 3 — 761 (14 ) Long-term debt (2) (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)  Amounts represent items that are accounted for under the fair value option. (3)  Net derivatives at December 31, 2011 include derivative assets of $14.4 billion and derivative liabilities of $8.5 billion. (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 Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date	Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date                       2011 (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 (2) $ —   $ (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 )                       2010 Trading account assets:                   Corporate securities, trading loans and other (2) $ —   $ 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 does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent items 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                       2009 (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 $ —   $ 89   $ —   $ —   $ 89 Equity securities —   (328 )   —   —   (328 ) Non-U.S. sovereign debt —   137   —   —   137 Mortgage trading loans and ABS —   (332 )   —   —   (332 ) Total trading account assets —   (434 )   —   —   (434 ) Net derivative assets —   (2,761 )   348   —   (2,413 ) AFS debt securities:                   Non-agency residential MBS —   —   (20 )   (659 )   (679 ) Other taxable securities —   (11 )   —   (3 )   (14 ) Tax-exempt securities —   (2 )   —   (8 )   (10 ) Total AFS debt securities —   (13 )   (20 )   (670 )   (703 ) Loans and leases (2) —   —   —   210   210 Mortgage servicing rights —   —   4,100   —   4,100 Loans held-for-sale (2) —   (195 )   164   695   664 Other assets (177 )   —   6   1,061   890 Trading account liabilities – Non-U.S. sovereign debt —   (38 )   —   —   (38 ) Other short-term borrowings (2) —   —   (11 )   —   (11 ) Accrued expenses and other liabilities (2) —   —   —   1,740   1,740 Long-term debt (2) —   (2,303 )   —   (225 )   (2,528 ) Total $ (177 )   $ (5,744 )   $ 4,587   $ 2,811   $ 1,477 (1)  Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent items that are accounted for under the fair value option.
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis	Assets Measured at Fair Value on a Nonrecurring Basis                   December 31   2011   2010 (Dollars in millions) Level 2   Level 3   Level 2   Level 3 Assets               Loans held-for-sale $ 2,662   $ 1,008   $ 931   $ 6,408 Loans and leases 9   10,629   23   11,917 Foreclosed properties (1) —   2,531   10   2,125 Other assets 44   885   8   95   Gains (Losses)   (Dollars in millions) 2011   2010   2009   Assets             Loans held-for-sale $ (181 )   $ 174   $ (1,288 )   Loans and leases (2) (4,813 )   (6,074 )   (5,596 )   Foreclosed properties (333 )   (240 )   (322 )   Other assets —   (50 )   (268 )   (1)  Amounts are included in other assets on the 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)  Gains (losses) represent charge-offs on real estate-secured loans.
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings                       2011 (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 (2) $ —   $ 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                       2010 Trading account assets:                   Corporate securities, trading loans and other (2) $ —   $ 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 does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent items that are accounted for under the fair value option.                     Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings                       2009 (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 $ —   $ 370   $ —   $ —   $ 370 Equity securities —   (396 )   —   —   (396 ) Non-U.S. sovereign debt —   136   —   —   136 Mortgage trading loans and ABS —   (262 )   —   —   (262 ) Total trading account assets —   (152 )   —   —   (152 ) Net derivative assets —   (2,526 )   8,052   —   5,526 AFS debt securities:                   Non-agency MBS:                   Residential —   —   (20 )   (1,139 )   (1,159 ) Commercial —   —   —   (185 )   (185 ) Non-U.S. securities —   —   —   (79 )   (79 ) Corporate/Agency bonds —   —   —   (22 )   (22 ) Other taxable securities —   —   —   (75 )   (75 ) Tax-exempt securities —   —   —   2   2 Total AFS debt securities —   —   (20 )   (1,498 )   (1,518 ) Loans and leases (2) —   (11 )   —   526   515 Mortgage servicing rights —   —   5,286   —   5,286 Loans held-for-sale (2) —   (216 )   306   588   678 Other assets 968   —   244   61   1,273 Trading account liabilities – Non-U.S. sovereign debt —   (38 )   —   —   (38 ) Other short-term borrowings (2) —   —   (11 )   —   (11 ) Accrued expenses and other liabilities (2) —   36   —   1,360   1,396 Long-term debt (2) —   (2,083 )   —   (227 )   (2,310 ) Total $ 968   $ (4,990 )   $ 13,857   $ 810   $ 10,645 (1)  Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent items that are accounted for under the fair value option.
Level 3 Total Realized and Unrealized Gains (Losses) Included in Earnings	Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings                       2011 (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 (2) $ —   $ 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                       2010 Trading account assets:                   Corporate securities, trading loans and other (2) $ —   $ 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 does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent items that are accounted for under the fair value option.                     Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings                       2009 (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 $ —   $ 370   $ —   $ —   $ 370 Equity securities —   (396 )   —   —   (396 ) Non-U.S. sovereign debt —   136   —   —   136 Mortgage trading loans and ABS —   (262 )   —   —   (262 ) Total trading account assets —   (152 )   —   —   (152 ) Net derivative assets —   (2,526 )   8,052   —   5,526 AFS debt securities:                   Non-agency MBS:                   Residential —   —   (20 )   (1,139 )   (1,159 ) Commercial —   —   —   (185 )   (185 ) Non-U.S. securities —   —   —   (79 )   (79 ) Corporate/Agency bonds —   —   —   (22 )   (22 ) Other taxable securities —   —   —   (75 )   (75 ) Tax-exempt securities —   —   —   2   2 Total AFS debt securities —   —   (20 )   (1,498 )   (1,518 ) Loans and leases (2) —   (11 )   —   526   515 Mortgage servicing rights —   —   5,286   —   5,286 Loans held-for-sale (2) —   (216 )   306   588   678 Other assets 968   —   244   61   1,273 Trading account liabilities – Non-U.S. sovereign debt —   (38 )   —   —   (38 ) Other short-term borrowings (2) —   —   (11 )   —   (11 ) Accrued expenses and other liabilities (2) —   36   —   1,360   1,396 Long-term debt (2) —   (2,083 )   —   (227 )   (2,310 ) Total $ 968   $ (4,990 )   $ 13,857   $ 810   $ 10,645 (1)  Mortgage banking income does not reflect the impact of Level 1 and Level 2 hedges on MSRs. (2)  Amounts represent items that are accounted for under the fair value option.