Quarterly report pursuant to Section 13 or 15(d)

Securitizations and Other Variable Interest Entities - First Lien Mortgages VIE (Details)

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Securitizations and Other Variable Interest Entities - First Lien Mortgages VIE (Details) (USD $)
Sep. 30, 2014
Jun. 30, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Dec. 31, 2012
On-balance sheet assets            
Trading account assets $ 188,489,000,000   $ 200,993,000,000      
Debt securities carried at fair value 307,949,000,000   268,795,000,000      
Held-to-maturity securities 60,175,000,000 [1]   55,150,000,000      
Loans and leases 891,315,000,000   928,233,000,000      
Allowance for loan and lease losses (15,106,000,000) (15,811,000,000) (17,428,000,000) (19,432,000,000) (21,235,000,000) (24,179,000,000)
All other assets 118,006,000,000   124,090,000,000      
Total assets 2,123,613,000,000 [2]   2,102,273,000,000 2,126,653,000,000 [2]    
On-balance sheet liabilities            
Long-term debt 250,115,000,000   249,674,000,000      
Total liabilities 1,884,932,000,000   1,869,588,000,000      
Unpaid principal balance of mortgage loans eligible for repurchase 757,000,000   1,600,000,000      
Principal amount that would be payable to the securitization vehicles 757,000,000   1,600,000,000      
Unconsolidated VIEs | Agency
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 15,740,000,000 [3]   21,140,000,000 [3]      
On-balance sheet assets            
Residual interests held 0   0      
All other assets 25,000,000 [4]   27,000,000 [4]      
Total assets 15,740,000,000   21,140,000,000      
Principal amount outstanding 407,706,000,000 [5]   437,765,000,000 [5]      
Unconsolidated VIEs | Agency | Senior Lien
            
On-balance sheet assets            
Trading account assets 848,000,000 [6]   650,000,000 [6]      
Debt securities carried at fair value 13,980,000,000 [6]   19,451,000,000 [6]      
Held-to-maturity securities 887,000,000 [6]   1,012,000,000 [6]      
Unconsolidated VIEs | Agency | Junior Lien
            
On-balance sheet assets            
Trading account assets 0 [6]   0 [6]      
Debt securities carried at fair value 0 [6]   0 [6]      
Unconsolidated VIEs | Non-agency | Prime
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 1,362,000,000 [3]   1,527,000,000 [3]      
On-balance sheet assets            
Residual interests held 26,000,000   13,000,000      
All other assets 56,000,000 [4]   71,000,000 [4]      
Total assets 969,000,000   1,087,000,000      
Principal amount outstanding 22,498,000,000 [5]   25,104,000,000 [5]      
Unconsolidated VIEs | Non-agency | Prime | Senior Lien
            
On-balance sheet assets            
Trading account assets 4,000,000 [6]   0 [6]      
Debt securities carried at fair value 870,000,000 [6]   988,000,000 [6]      
Held-to-maturity securities 0 [6]   0 [6]      
Unconsolidated VIEs | Non-agency | Prime | Junior Lien
            
On-balance sheet assets            
Trading account assets 0 [6]   0 [6]      
Debt securities carried at fair value 13,000,000 [6]   15,000,000 [6]      
Unconsolidated VIEs | Non-agency | Subprime
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 3,206,000,000 [3]   591,000,000 [3]      
On-balance sheet assets            
Residual interests held 0   0      
All other assets 1,000,000 [4]   1,000,000 [4]      
Total assets 2,864,000,000   236,000,000      
Principal amount outstanding 33,663,000,000 [5]   36,854,000,000 [5]      
Unconsolidated VIEs | Non-agency | Subprime | Senior Lien
            
On-balance sheet assets            
Trading account assets 2,000,000 [6]   1,000,000 [6]      
Debt securities carried at fair value 2,832,000,000 [6]   220,000,000 [6]      
Held-to-maturity securities 0 [6]   0 [6]      
Unconsolidated VIEs | Non-agency | Subprime | Junior Lien
            
On-balance sheet assets            
Trading account assets 24,000,000 [6]   8,000,000 [6]      
Debt securities carried at fair value 5,000,000 [6]   6,000,000 [6]      
Unconsolidated VIEs | Non-agency | Alt-A Loan
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 708,000,000 [3]   437,000,000 [3]      
On-balance sheet assets            
Residual interests held 0   0      
All other assets 279,000,000 [4]   325,000,000 [4]      
Total assets 708,000,000   437,000,000      
Principal amount outstanding 52,103,000,000 [5]   56,454,000,000 [5]      
Unconsolidated VIEs | Non-agency | Alt-A Loan | Senior Lien
            
On-balance sheet assets            
Trading account assets 39,000,000 [6]   3,000,000 [6]      
Debt securities carried at fair value 389,000,000 [6]   109,000,000 [6]      
Held-to-maturity securities 0 [6]   0 [6]      
Unconsolidated VIEs | Non-agency | Alt-A Loan | Junior Lien
            
On-balance sheet assets            
Trading account assets 1,000,000 [6]   0 [6]      
Debt securities carried at fair value 0 [6]   0 [6]      
Unconsolidated VIEs | Commercial Mortgage
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 382,000,000 [3]   432,000,000 [3]      
On-balance sheet assets            
Residual interests held 80,000,000   16,000,000      
All other assets 0 [4]   0 [4]      
Total assets 356,000,000   402,000,000      
Principal amount outstanding 23,721,000,000 [5]   19,730,000,000 [5]      
Unconsolidated VIEs | Commercial Mortgage | Senior Lien
            
On-balance sheet assets            
Trading account assets 78,000,000 [6]   14,000,000 [6]      
Debt securities carried at fair value 76,000,000 [6]   306,000,000 [6]      
Held-to-maturity securities 59,000,000 [6]   0 [6]      
Unconsolidated VIEs | Commercial Mortgage | Junior Lien
            
On-balance sheet assets            
Trading account assets 12,000,000 [6]   13,000,000 [6]      
Debt securities carried at fair value 51,000,000 [6]   53,000,000 [6]      
Consolidated VIEs | Agency
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 38,982,000,000 [3]   42,420,000,000 [3]      
On-balance sheet assets            
Trading account assets 1,183,000,000   1,640,000,000      
Loans and leases 37,203,000,000   40,316,000,000      
Allowance for loan and lease losses (2,000,000)   (3,000,000)      
All other assets 599,000,000   474,000,000      
Total assets 38,983,000,000   42,427,000,000      
On-balance sheet liabilities            
Long-term debt 1,000,000   7,000,000      
All other liabilities 0   0      
Total liabilities 1,000,000   7,000,000      
Consolidated VIEs | Non-agency | Prime
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 79,000,000 [3]   79,000,000 [3]      
On-balance sheet assets            
Trading account assets 0   0      
Loans and leases 137,000,000   140,000,000      
Allowance for loan and lease losses 0   0      
All other assets 3,000,000   0      
Total assets 140,000,000   140,000,000      
On-balance sheet liabilities            
Long-term debt 58,000,000   61,000,000      
All other liabilities 3,000,000   0      
Total liabilities 61,000,000   61,000,000      
Consolidated VIEs | Non-agency | Subprime
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 177,000,000 [3]   183,000,000 [3]      
On-balance sheet assets            
Trading account assets 0   0      
Loans and leases 784,000,000   803,000,000      
Allowance for loan and lease losses 0   0      
All other assets 12,000,000   7,000,000      
Total assets 796,000,000   810,000,000      
On-balance sheet liabilities            
Long-term debt 784,000,000   803,000,000      
All other liabilities 12,000,000   7,000,000      
Total liabilities 796,000,000   810,000,000      
Consolidated VIEs | Non-agency | Alt-A Loan
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 0 [3]   0 [3]      
On-balance sheet assets            
Trading account assets 0   0      
Loans and leases 0   0      
Allowance for loan and lease losses 0   0      
All other assets 0   0      
Total assets 0   0      
On-balance sheet liabilities            
Long-term debt 0   0      
All other liabilities 0   0      
Total liabilities 0   0      
Consolidated VIEs | Commercial Mortgage
            
Variable Interest Entity [Line Items]            
Maximum loss exposure 0 [3]   0 [3]      
On-balance sheet assets            
Trading account assets 0   0      
Loans and leases 0   0      
Allowance for loan and lease losses 0   0      
All other assets 0   0      
Total assets 0   0      
On-balance sheet liabilities            
Long-term debt 0   0      
All other liabilities 0   0      
Total liabilities $ 0   $ 0      
[1] Substantially all U.S. agency MBS.
[2] There were no material intersegment revenues.
[3] Maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances and other servicing rights and obligations. For additional information, see Note 7 – Representations and Warranties Obligations and Corporate Guarantees and Note 17 – Mortgage Servicing Rights.
[4] Not included in the table above are all other assets of $757 million and $1.6 billion, representing the unpaid principal balance of mortgage loans eligible for repurchase from unconsolidated residential mortgage securitization vehicles, principally guaranteed by GNMA, and all other liabilities of $757 million and $1.6 billion, representing the principal amount that would be payable to the securitization vehicles if the Corporation was to exercise the repurchase option, at September 30, 2014 and December 31, 2013.
[5] Principal balance outstanding includes loans the Corporation transferred with which it has continuing involvement, which may include servicing the loans.
[6] As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2014 and 2013, there were no OTTI losses recorded on those securities classified as AFS debt securities.