Derivatives (Tables)

v2.4.0.6

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2013
Derivatives [Abstract]
Valuation Adjustments on Derivatives [Table Text Block]	The table below presents CVA and DVA gains (losses) for the Corporation on a gross and net of hedge basis, which are recorded in trading account profits. Valuation Adjustments on Derivatives   Three Months Ended March 31   2013   2012 (Dollars in millions) Gross Net   Gross Net Derivative assets (CVA) (1) $ (131 ) $ (295 )   $ 512 $ 150 Derivative liabilities (DVA) (2) 375 379   (1,360 ) (1,459 ) (1)  At March 31, 2013 and December 31, 2012, the cumulative CVA reduced the derivative assets balance by $2.5 billion and $2.4 billion. (2)  At March 31, 2013 and December 31, 2012, the cumulative DVA reduced the derivative liabilities balance by $1.2 billion and $807 million.
Schedule of Derivative Instruments	The following tables present derivative instruments included on the Consolidated Balance Sheet in derivative assets and liabilities at March 31, 2013 and December 31, 2012. Balances are presented on a gross basis, prior to the application of counterparty and cash collateral netting. Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by the cash collateral received or paid.   March 31, 2013       Gross Derivative Assets   Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1)   Trading Derivatives and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total   Trading Derivatives and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total Interest rate contracts                           Swaps $ 33,883.6   $ 920.0   $ 12.6   $ 932.6   $ 910.1   $ 2.8   $ 912.9 Futures and forwards 12,220.8   2.1   —   2.1   2.1   —   2.1 Written options 2,224.1   —   —   —   93.8   —   93.8 Purchased options 2,147.3   94.7   —   94.7   —   —   — Foreign exchange contracts                           Swaps 2,349.4   42.2   1.2   43.4   46.6   2.3   48.9 Spot, futures and forwards 2,747.7   29.3   0.9   30.2   29.6   0.5   30.1 Written options 526.3   —   —   —   9.6   —   9.6 Purchased options 476.0   8.8   —   8.8   —   —   — Equity contracts                           Swaps 137.0   2.3   —   2.3   2.3   —   2.3 Futures and forwards 68.6   1.2   —   1.2   1.2   —   1.2 Written options 335.2   —   —   —   23.7   —   23.7 Purchased options 314.0   22.9   —   22.9   —   —   — Commodity contracts                           Swaps 73.6   3.0   —   3.0   4.2   —   4.2 Futures and forwards 555.8   5.5   —   5.5   3.5   —   3.5 Written options 206.1   —   —   —   7.3   —   7.3 Purchased options 213.8   7.2   —   7.2   —   —   — Credit derivatives                           Purchased credit derivatives:                           Credit default swaps 1,610.7   32.7   —   32.7   22.8   —   22.8 Total return swaps/other 44.4   2.2   —   2.2   2.9   —   2.9 Written credit derivatives:                           Credit default swaps 1,581.3   23.7   —   23.7   29.7   —   29.7 Total return swaps/other 73.9   2.2   —   2.2   0.4   —   0.4 Gross derivative assets/liabilities     $ 1,200.0   $ 14.7   $ 1,214.7   $ 1,189.8   $ 5.6   $ 1,195.4 Less: Legally enforceable master netting agreements       (1,104.8 )           (1,104.8 ) Less: Cash collateral received/paid             (57.7 )           (42.8 ) Total derivative assets/liabilities           $ 52.2           $ 47.8 (1)  Represents the total contract/notional amount of derivative assets and liabilities outstanding.   December 31, 2012       Gross Derivative Assets   Gross Derivative Liabilities (Dollars in billions) Contract/ Notional (1)   Trading Derivatives and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total   Trading Derivatives and Other Risk Management Derivatives   Qualifying Accounting Hedges   Total Interest rate contracts                           Swaps $ 34,667.4   $ 1,075.4   $ 13.8   $ 1,089.2   $ 1,062.6   $ 4.7   $ 1,067.3 Futures and forwards 11,950.5   2.8   —   2.8   2.7   —   2.7 Written options 2,343.5   —   —   —   106.0   —   106.0 Purchased options 2,162.6   105.5   —   105.5   —   —   — Foreign exchange contracts                           Swaps 2,489.0   47.4   1.4   48.8   53.2   1.8   55.0 Spot, futures and forwards 3,023.0   31.5   0.4   31.9   30.5   0.8   31.3 Written options 363.3   —   —   —   7.3   —   7.3 Purchased options 321.8   6.5   —   6.5   —   —   — Equity contracts                           Swaps 127.1   1.6   —   1.6   2.0   —   2.0 Futures and forwards 58.4   1.0   —   1.0   1.0   —   1.0 Written options 295.3   —   —   —   20.2   —   20.2 Purchased options 271.0   20.4   —   20.4   —   —   — Commodity contracts                           Swaps 60.5   2.5   0.1   2.6   4.0   —   4.0 Futures and forwards 498.9   4.8   —   4.8   2.7   —   2.7 Written options 166.4   —   —   —   7.4   —   7.4 Purchased options 168.2   7.1   —   7.1   —   —   — Credit derivatives                           Purchased credit derivatives:                           Credit default swaps 1,559.5   35.6   —   35.6   22.1   —   22.1 Total return swaps/other 43.5   2.5   —   2.5   2.9   —   2.9 Written credit derivatives:                           Credit default swaps 1,531.5   23.0   —   23.0   32.6   —   32.6 Total return swaps/other 68.8   0.2   —   0.2   0.3   —   0.3 Gross derivative assets/liabilities     $ 1,367.8   $ 15.7   $ 1,383.5   $ 1,357.5   $ 7.3   $ 1,364.8 Less: Legally enforceable master netting agreements       (1,271.9 )           (1,271.9 ) Less: Cash collateral received/paid             (58.1 )           (46.9 ) Total derivative assets/liabilities           $ 53.5           $ 46.0 (1)  Represents the total contract/notional amount of derivative assets and liabilities outstanding.
Offsetting Assets/Liabilities	Offsetting of Derivatives                 March 31, 2013   December 31, 2012 (Dollars in billions) Derivative Assets   Derivative Liabilities   Derivative Assets   Derivative Liabilities Interest rate contracts               Over-the-counter $ 584.8   $ 556.4   $ 646.7   $ 623.4 Over-the-counter cleared 442.9   449.5   539.5   545.1 Foreign exchange contracts               Over-the-counter 79.5   83.7   84.1   88.7 Equity contracts               Over-the-counter 16.9   14.6   15.2   13.3 Exchange-traded 5.5   6.2   4.8   4.7 Commodity contracts               Over-the-counter 8.2   8.7   6.9   7.9 Exchange-traded 3.3   3.2   3.4   3.2 Credit derivatives               Over-the-counter 54.8   50.6   56.0   53.9 Over-the-counter cleared 4.4   4.4   3.8   3.4 Total gross derivative assets/liabilities, before netting $ 1,200.3   $ 1,177.3   $ 1,360.4   $ 1,343.6 Less: Legally enforceable master netting (1,104.8 )   (1,104.8 )   (1,271.9 )   (1,271.9 ) Less: Cash collateral received/paid (57.7 )   (42.8 )   (58.1 )   (46.9 ) Derivative assets/liabilities, after netting 37.8   29.7   30.4   24.8 Other gross derivative assets/liabilities 14.4   18.1   23.1   21.2 Total derivative assets/liabilities 52.2   47.8   53.5   46.0 Less: Financial instruments collateral (1) (11.4 )   (12.8 )   (11.5 )   (14.6 ) Total net derivative assets/liabilities $ 40.8   $ 35.0   $ 42.0   $ 31.4 (1) These amounts are limited to the derivative asset/liability balance, and accordingly, do not include excess collateral received/pledged
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below summarizes certain information related to fair value hedges for the three months ended March 31, 2013 and 2012, including hedges of interest rate risk on long-term debt that were acquired as part of a business combination and redesignated. At redesignation, the fair value of the derivatives was positive. As the derivatives mature, the fair value will approach zero. As a result, ineffectiveness may occur and the fair value changes in the derivatives and the long-term debt being hedged may be directionally the same in certain scenarios. Based on a regression analysis, the derivatives continue to be highly effective at offsetting changes in the fair value of the long-term debt attributable to interest rate risk. Derivatives Designated as Fair Value Hedges Gains (Losses) Three Months Ended March 31, 2013 (Dollars in millions) Derivative   Hedged Item   Hedge Ineffectiveness Interest rate risk on long-term debt (1) $ (953 )   $ 771   $ (182 ) Interest rate and foreign currency risk on long-term debt (1) (1,538 )   1,456   (82 ) Interest rate risk on available-for-sale securities (2) 850   (846 )   4 Price risk on commodity inventory (3) (3 )   3   — Total $ (1,644 )   $ 1,384   $ (260 )               Three Months Ended March 31, 2012 Interest rate risk on long-term debt (1) $ (1,001 )   $ 764   $ (237 ) Interest rate and foreign currency risk on long-term debt (1) 155   (173 )   (18 ) Interest rate risk on available-for-sale securities (2) 2,948   (2,801 )   147 Price risk on commodity inventory (3) 23   (23 )   — Total $ 2,125   $ (2,233 )   $ (108 ) (1)  Amounts are recorded in interest expense on long-term debt and in other loss. (2)  Amounts are recorded in interest income on debt securities. (3)  Amounts relating to commodity inventory are recorded in trading account profits.
Schedule of Cash Flow and Net Investment Hedges	Derivatives Designated as Cash Flow and Net Investment Hedges   Three Months Ended March 31, 2013 (Dollars in millions, amounts pre-tax) Gains (Losses) Recognized in Accumulated OCI on Derivatives   Gains (Losses) in Income Reclassified from Accumulated OCI   Hedge Ineffectiveness and Amounts Excluded from Effectiveness Testing (1) Cash flow hedges           Interest rate risk on variable-rate portfolios $ (14 )   $ (275 )   $ (1 ) Price risk on restricted stock awards 55   40   — Total $ 41   $ (235 )   $ (1 ) Net investment hedges           Foreign exchange risk $ 1,676   $ (94 )   $ (35 )               Three Months Ended March 31, 2012 Cash flow hedges           Interest rate risk on variable-rate portfolios $ 108   $ (152 )   $ — Commodity price risk on forecasted purchases and sales —   (5 )   — Price risk on restricted stock awards 305   (37 )   — Total $ 413   $ (194 )   $ — Net investment hedges           Foreign exchange risk $ (1,029 )   $ (41 )   $ (7 ) (1)  Amounts related to derivatives designated as cash flow hedges represent hedge ineffectiveness and amounts related to net investment hedges represent amounts excluded from effectiveness testing.
Schedule of Derivative Instruments Included in Trading Activities	The table below, which includes both derivatives and non-derivative cash instruments, identifies the amounts in the respective income statement line items attributable to the Corporation's sales and trading revenue in Global Markets, categorized by primary risk, for the three months ended March 31, 2013 and 2012. The difference between total trading account profits in the table below and in the Consolidated Statement of Income represents trading activities in business segments other than Global Markets. This table includes debit valuation adjustment gains (losses), net of hedges. Global Markets results in Note 20 – Business Segment Information are presented on a fully taxable-equivalent (FTE) basis. The table below is not presented on a FTE basis. Sales and Trading Revenue                 Three Months Ended March 31, 2013 (Dollars in millions) Trading Account Profits   Net Interest Income   Other (1)   Total Interest rate risk $ 677   $ 292   $ 13   $ 982 Foreign exchange risk 370   —   (8 )   362 Equity risk 608   15   536   1,159 Credit risk 1,038   717   (369 )   1,386 Other risk 196   (48 )   12   160 Total sales and trading revenue $ 2,889   $ 976   $ 184   $ 4,049                   Three Months Ended March 31, 2012 Interest rate risk $ 59   $ 271   $ (10 )   $ 320 Foreign exchange risk 232   2   2   236 Equity risk 375   7   529   911 Credit risk 1,142   543   371   2,056 Other risk 229   (74 )   27   182 Total sales and trading revenue $ 2,037   $ 749   $ 919   $ 3,705 (1)  Represents amounts in investment and brokerage services and other loss that are recorded in Global Markets and included in the definition of sales and trading revenue. Includes investment and brokerage services revenue of $528 million and $514 million for the three months ended March 31, 2013 and 2012, primarily included in equity risk.
Disclosure of Credit Derivatives	Credit derivative instruments where the Corporation is the seller of credit protection and their expiration are summarized at March 31, 2013 and December 31, 2012 in the table below. These instruments are classified as investment and non-investment grade based on the credit quality of the underlying referenced obligation. The Corporation considers ratings of BBB- or higher as investment grade. Non-investment grade includes non-rated credit derivative instruments. Credit Derivative Instruments       March 31, 2013   Carrying Value (Dollars in millions) Less than One Year   One to Three Years   Three to Five Years   Over Five Years   Total Credit default swaps:                   Investment grade $ 62   $ 873   $ 5,504   $ 3,140   $ 9,579 Non-investment grade 856   3,652   5,493   10,110   20,111 Total 918   4,525   10,997   13,250   29,690 Total return swaps/other:                   Investment grade 38   —   —   —   38 Non-investment grade 192   77   63   14   346 Total 230   77   63   14   384 Total credit derivatives $ 1,148   $ 4,602   $ 11,060   $ 13,264   $ 30,074 Credit-related notes: (1)                   Investment grade $ 4   $ 21   $ 275   $ 4,309   $ 4,609 Non-investment grade 108   172   647   1,371   2,298 Total credit-related notes $ 112   $ 193   $ 922   $ 5,680   $ 6,907   Maximum Payout/Notional Credit default swaps:                   Investment grade $ 264,038   $ 336,442   $ 537,624   $ 111,327   $ 1,249,431 Non-investment grade 76,785   97,597   111,607   45,913   331,902 Total 340,823   434,039   649,231   157,240   1,581,333 Total return swaps/other:                   Investment grade 24,359   —   —   —   24,359 Non-investment grade 34,503   8,137   5,406   1,497   49,543 Total 58,862   8,137   5,406   1,497   73,902 Total credit derivatives $ 399,685   $ 442,176   $ 654,637   $ 158,737   $ 1,655,235                       December 31, 2012   Carrying Value Credit default swaps:                   Investment grade $ 52   $ 757   $ 5,595   $ 2,903   $ 9,307 Non-investment grade 923   4,403   7,030   10,959   23,315 Total 975   5,160   12,625   13,862   32,622 Total return swaps/other:                   Investment grade 39   —   —   —   39 Non-investment grade 57   104   39   37   237 Total 96   104   39   37   276 Total credit derivatives $ 1,071   $ 5,264   $ 12,664   $ 13,899   $ 32,898 Credit-related notes: (1)                   Investment grade $ 4   $ 12   $ 441   $ 3,849   $ 4,306 Non-investment grade 116   161   314   1,425   2,016 Total credit-related notes $ 120   $ 173   $ 755   $ 5,274   $ 6,322   Maximum Payout/Notional Credit default swaps:                   Investment grade $ 260,177   $ 349,125   $ 500,038   $ 90,453   $ 1,199,793 Non-investment grade 79,861   99,043   110,248   42,559   331,711 Total 340,038   448,168   610,286   133,012   1,531,504 Total return swaps/other:                   Investment grade 43,536   15   —   —   43,551 Non-investment grade 5,566   11,028   7,631   1,035   25,260 Total 49,102   11,043   7,631   1,035   68,811 Total credit derivatives $ 389,140   $ 459,211   $ 617,917   $ 134,047   $ 1,600,315 (1)  For credit-related notes, maximum payout/notional is the same as carrying value.
Other Risk Management Derivatives [Table Text Block]	The table below presents gains (losses) on these derivatives for the three months ended March 31, 2013 and 2012. These gains (losses) are largely offset by the income or expense that is recorded on the hedged item. Other Risk Management Derivatives Gains (Losses) Three Months Ended March 31 (Dollars in millions) 2013   2012 Price risk on mortgage banking production income (1, 2) $ 422   $ 589 Market-related risk on mortgage banking servicing income (1) (136 )   (203 ) Credit risk on loans (3) 3   (57 ) Interest rate and foreign currency risk on ALM activities (4) (605 )   464 Price risk on restricted stock awards (5) 116   473 Other (4 )   6 Total $ (204 )   $ 1,272 (1)  Net gains on these derivatives are recorded in mortgage banking income. (2)  Includes net gains on interest rate lock commitments related to the origination of mortgage loans that are held-for-sale, which are considered derivative instruments, of $407 million and $547 million for the three months ended March 31, 2013 and 2012. (3)  Net gains (losses) on these derivatives are recorded in other loss. (4)  The majority of the balance is related to the revaluation of derivatives used to mitigate risk related to foreign currency-denominated debt which is recorded in other loss. The offsetting revaluation of the foreign currency-denominated debt, while not included in the table above, is also recorded in other loss. (5)  Gains (losses) on these derivatives are recorded in personnel expense.