Securitizations and Other Variable Interest Entities (Tables)

v2.4.0.6

Securitizations and Other Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2012
Variable Interest Entity [Line Items]
Mortgage Related Securitizations	The table below summarizes select information related to first-lien mortgage securitizations for the three and nine months ended September 30, 2012 and 2011. First-lien Mortgage Securitizations             Residential Mortgage       Agency   Non-Agency   Commercial Mortgage   Three Months Ended September 30 (Dollars in millions) 2012 2011   2012 2011   2012 2011 Cash proceeds from new securitizations (1) $ 12,461 $ 31,481   $ — $ 36   $ 335 $ 1,667 Loss on securitizations, net of hedges (2) (89 ) (281 )   — —   — —                     Nine Months Ended September 30   2012 2011   2012 2011   2012 2011 Cash proceeds from new securitizations (1) $ 27,688 $ 128,457   $ — $ 36   $ 660 $ 3,468 Loss on securitizations, net of hedges (2) (151 ) (336 )   — —   — — (1)  The Corporation sells residential mortgage loans to GSEs in the normal course of business and receives MBS in exchange which may then be sold into the market to third-party investors for cash proceeds. (2)  Substantially all of the first-lien residential mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option. As such, gains are recognized on these LHFS prior to securitization. During the three and nine months ended September 30, 2012, the Corporation recognized $563 million and $1.3 billion of gains on these LHFS compared to $636 million and $2.5 billion for the same periods in 2011, net of hedges.
First Lien Mortgages [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The table below summarizes select information related to first-lien mortgage securitization trusts in which the Corporation held a variable interest at September 30, 2012 and December 31, 2011. First-lien VIEs                 Residential Mortgage             Non-Agency       Agency   Prime   Subprime   Alt-A   Commercial Mortgage (Dollars in millions) September 30 2012 December 31 2011   September 30 2012 December 31 2011   September 30 2012 December 31 2011   September 30 2012 December 31 2011   September 30 2012 December 31 2011 Unconsolidated VIEs                             Maximum loss exposure (1) $ 32,493 $ 37,519   $ 2,141 $ 2,375   $ 280 $ 289   $ 395 $ 506   $ 728 $ 981 On-balance sheet assets                             Senior securities held (2):                             Trading account assets $ 314 $ 8,744   $ 8 $ 94   $ 7 $ 3   $ 2 $ 343   $ 10 $ 21 AFS debt securities 28,271 28,775   1,467 2,001   202 174   130 163   589 846 Subordinate securities held (2):                             Trading account assets — —   — —   3 30   — —   25 3 AFS debt securities — —   22 26   10 30   — —   — — Residual interests held — —   13 8   — 9   — —   41 43 All other assets 3,908 —   72 —   1 —   263 —   — — Total retained positions $ 32,493 $ 37,519   $ 1,582 $ 2,129   $ 223 $ 246   $ 395 $ 506   $ 665 $ 913 Principal balance outstanding (3) $ 881,359 $ 1,198,766   $ 50,297 $ 61,207   $ 60,870 $ 73,949   $ 84,342 $ 101,622   $ 57,718 $ 76,645                               Consolidated VIEs                             Maximum loss exposure (1) $ 48,065 $ 50,648   $ 101 $ 450   $ 406 $ 419   $ — $ —   $ — $ — On-balance sheet assets                             Loans and leases $ 47,417 $ 50,159   $ 294 $ 1,298   $ 907 $ 892   $ — $ —   $ — $ — Allowance for loan and lease losses (4 ) (6 )   — —   — —   — —   — — Loans held-for-sale — —   — —   670 622   — —   — — All other assets 652 495   4 63   51 59   — —   — — Total assets $ 48,065 $ 50,648   $ 298 $ 1,361   $ 1,628 $ 1,573   $ — $ —   $ — $ — On-balance sheet liabilities                             Other short-term borrowings $ — $ —   $ — $ —   $ 687 $ 650   $ — $ —   $ — $ — Long-term debt — —   220 1,360   921 911   — —   — — All other liabilities — —   — —   — 57   — —   — — Total liabilities $ — $ —   $ 220 $ 1,360   $ 1,608 $ 1,618   $ — $ —   $ — $ — (1)  Maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances and MSRs. For more information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees and Note 18 – Mortgage Servicing Rights. (2)  As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2012 and 2011, there were no OTTI losses recorded on those securities classified as AFS debt securities. (3)  Principal balance outstanding includes loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loans.
Home Equity [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The table below summarizes select information related to home equity loan securitization trusts in which the Corporation held a variable interest at September 30, 2012 and December 31, 2011. Home Equity Loan VIEs           September 30, 2012   December 31, 2011 (Dollars in millions) Consolidated VIEs   Unconsolidated VIEs   Total   Consolidated VIEs   Unconsolidated VIEs   Total Maximum loss exposure (1) $ 2,120   $ 6,949   $ 9,069   $ 2,672   $ 7,563   $ 10,235 On-balance sheet assets                       Trading account assets $ —   $ 4   $ 4   $ —   $ 5   $ 5 AFS debt securities —   14   14   —   13   13 Loans and leases 2,303   —   2,303   2,975   —   2,975 Allowance for loan and lease losses (183 )   —   (183 )   (303 )   —   (303 ) Total $ 2,120   $ 18   $ 2,138   $ 2,672   $ 18   $ 2,690 On-balance sheet liabilities                       Long-term debt $ 2,476   $ —   $ 2,476   $ 3,081   $ —   $ 3,081 All other liabilities 85   —   85   66   —   66 Total $ 2,561   $ —   $ 2,561   $ 3,147   $ —   $ 3,147 Principal balance outstanding $ 2,303   $ 13,148   $ 15,451   $ 2,975   $ 14,422   $ 17,397 (1)  For unconsolidated VIEs, the maximum loss exposure includes outstanding trust certificates issued by trusts in rapid amortization, net of recorded reserves, and excludes the liability for representations and warranties obligations and corporate guarantees.
Credit Card Receivable [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The table below summarizes select information related to credit card securitization trusts in which the Corporation held a variable interest at September 30, 2012 and December 31, 2011. Credit Card VIEs       (Dollars in millions) September 30 2012   December 31 2011 Consolidated VIEs       Maximum loss exposure $ 40,070   $ 38,282 On-balance sheet assets       Derivative assets $ 355   $ 788 Loans and leases (1) 66,294   74,793 Allowance for loan and lease losses (3,616 )   (4,742 ) Loans held-for-sale 550   — All other assets (2) 927   723 Total $ 64,510   $ 71,562 On-balance sheet liabilities       Other short-term borrowings $ 232   $ — Long-term debt 24,125   33,076 All other liabilities 83   204 Total $ 24,440   $ 33,280 Trust loans $ 66,844   $ 74,793 (1)  At September 30, 2012 and December 31, 2011, loans and leases included $31.1 billion and $28.7 billion of seller’s interest and $240 million and $1.0 billion of discount receivables. (2)  At September 30, 2012 and December 31, 2011, all other assets included restricted cash and short-term investment accounts and unbilled accrued interest and fees.
Collateralized Securities, Other [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	Other asset-backed securitizations include resecuritization trusts, municipal bond trusts, and automobile and other securitization trusts. The table below summarizes select information related to other asset-backed securitizations in which the Corporation held a variable interest at September 30, 2012 and December 31, 2011. Other Asset-backed VIEs                         Resecuritization Trusts   Municipal Bond Trusts   Automobile and Other Securitization Trusts (Dollars in millions) September 30 2012   December 31 2011   September 30 2012   December 31 2011   September 30 2012   December 31 2011 Unconsolidated VIEs                       Maximum loss exposure $ 21,596   $ 31,140   $ 3,388   $ 3,752   $ 90   $ 93 On-balance sheet assets                       Senior securities held (1, 2):                       Trading account assets $ 1,715   $ 2,595   $ 72   $ 228   $ —   $ — AFS debt securities 19,707   27,616   —   —   78   81 Subordinate securities held (1, 2):                       AFS debt securities 77   544   —   —   —   — Residual interests held (3) 97   385   —   —   —   — All other assets —   —   —   —   12   12 Total retained positions $ 21,596   $ 31,140   $ 72   $ 228   $ 90   $ 93 Total assets of VIEs (4) $ 45,810   $ 60,459   $ 5,299   $ 5,964   $ 2,117   $ 668                         Consolidated VIEs                       Maximum loss exposure $ 557   $ —   $ 2,867   $ 3,901   $ 1,268   $ 1,087 On-balance sheet assets                       Trading account assets $ 1,385   $ —   $ 2,867   $ 3,901   $ —   $ — Loans and leases —   —   —   —   3,007   4,923 Allowance for loan and lease losses —   —   —   —   (3 )   (7 ) All other assets —   —   —   —   313   168 Total assets $ 1,385   $ —   $ 2,867   $ 3,901   $ 3,317   $ 5,084 On-balance sheet liabilities                       Other short-term borrowings $ —   $ —   $ 2,761   $ 5,127   $ —   $ — Long-term debt 828   —   —   —   2,046   3,992 All other liabilities —   —   —   —   102   90 Total liabilities $ 828   $ —   $ 2,761   $ 5,127   $ 2,148   $ 4,082 (1)  As a holder of these securities, the Corporation receives scheduled principal and interest payments. During the three and nine months ended September 30, 2012 and 2011, there were no OTTI losses recorded on those securities classified as AFS debt securities. (2)  The retained senior and subordinate securities were valued using quoted market prices or observable market inputs (Level 2 of the fair value hierarchy). (3)  The retained residual interests are carried at fair value which was derived using model valuations (Level 2 of the fair value hierarchy). (4)  Total assets include loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loan.
Collateralized Debt Obligations [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The table below summarizes select information related to CDO vehicles in which the Corporation held a variable interest at September 30, 2012 and December 31, 2011. CDO Vehicle VIEs                         September 30, 2012   December 31, 2011 (Dollars in millions) Consolidated   Unconsolidated   Total   Consolidated   Unconsolidated   Total Maximum loss exposure $ 2,212   $ 1,563   $ 3,775   $ 1,695   $ 2,272   $ 3,967 On-balance sheet assets                       Trading account assets $ 2,025   $ 312   $ 2,337   $ 1,392   $ 461   $ 1,853 Derivative assets 187   380   567   452   678   1,130 All other assets —   79   79   —   96   96 Total $ 2,212   $ 771   $ 2,983   $ 1,844   $ 1,235   $ 3,079 On-balance sheet liabilities                       Derivative liabilities $ —   $ 7   $ 7   $ —   $ 11   $ 11 Long-term debt 2,839   2   2,841   2,712   2   2,714 Total $ 2,839   $ 9   $ 2,848   $ 2,712   $ 13   $ 2,725 Total assets of VIEs $ 2,212   $ 27,648   $ 29,860   $ 1,844   $ 32,903   $ 34,747
Customer Vehicles [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The table below summarizes select information related to customer vehicles in which the Corporation held a variable interest at September 30, 2012 and December 31, 2011. Customer Vehicle VIEs                         September 30, 2012   December 31, 2011 (Dollars in millions) Consolidated   Unconsolidated   Total   Consolidated   Unconsolidated   Total Maximum loss exposure $ 2,632   $ 1,960   $ 4,592   $ 3,264   $ 2,116   $ 5,380 On-balance sheet assets                       Trading account assets $ 3,666   $ 283   $ 3,949   $ 3,302   $ 211   $ 3,513 Derivative assets —   659   659   —   905   905 Loans and leases 176   —   176   —   —   — Loans held-for-sale 838   —   838   907   —   907 All other assets 798   —   798   1,452   —   1,452 Total $ 5,478   $ 942   $ 6,420   $ 5,661   $ 1,116   $ 6,777 On-balance sheet liabilities                       Derivative liabilities $ 24   $ 51   $ 75   $ 4   $ 42   $ 46 Other short-term borrowings 192   —   192   —   —   — Long-term debt 3,796   —   3,796   3,912   —   3,912 All other liabilities 1   431   432   1   448   449 Total $ 4,013   $ 482   $ 4,495   $ 3,917   $ 490   $ 4,407 Total assets of VIEs $ 5,478   $ 4,571   $ 10,049   $ 5,661   $ 5,302   $ 10,963
Other Variable Interest Entity Investment Vehicle [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The table below summarizes select information related to other VIEs in which the Corporation held a variable interest at September 30, 2012 and December 31, 2011. Other VIEs                         September 30, 2012   December 31, 2011 (Dollars in millions) Consolidated   Unconsolidated   Total   Consolidated   Unconsolidated   Total Maximum loss exposure $ 5,704   $ 6,933   $ 12,637   $ 7,429   $ 7,286   $ 14,715 On-balance sheet assets                       Trading account assets $ 16   $ —   $ 16   $ —   $ —   $ — Derivative assets 4   432   436   394   440   834 AFS debt securities —   43   43   —   62   62 Loans and leases 4,645   215   4,860   5,154   357   5,511 Allowance for loan and lease losses (5 )   —   (5 )   (8 )   (1 )   (9 ) Loans held-for-sale 107   426   533   106   598   704 All other assets 1,009   5,813   6,822   1,809   5,823   7,632 Total $ 5,776   $ 6,929   $ 12,705   $ 7,455   $ 7,279   $ 14,734 On-balance sheet liabilities                       Derivative liabilities $ —   $ 9   $ 9   $ —   $ —   $ — Long-term debt 804   —   804   10   —   10 All other liabilities 330   1,818   2,148   694   1,705   2,399 Total $ 1,134   $ 1,827   $ 2,961   $ 704   $ 1,705   $ 2,409 Total assets of VIEs $ 5,776   $ 10,451   $ 16,227   $ 7,455   $ 11,055   $ 18,510