Investment Securities (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

	2014								2013
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Estimated		Amortized		unrealized		unrealized		Estimated
December 31 (In millions)	cost		gains		losses		fair value		cost		gains		losses		fair value

Debt
U.S. corporate	$	19,889	$	3,967	$	(69)	$	23,787	$	19,600	$	2,323	$	(217)	$	21,706
State and municipal		5,181		624		(56)		5,749		4,245		235		(191)		4,289
Residential mortgage-backed(a)		1,578		153		(6)		1,725		1,819		139		(48)		1,910
Commercial mortgage-backed		2,903		170		(10)		3,063		2,929		188		(82)		3,035
Asset-backed		8,084		9		(175)		7,918		7,373		60		(46)		7,387
Corporate – non-U.S.		1,380		126		(30)		1,476		1,741		103		(86)		1,758
Government – non-U.S.		1,646		152		(2)		1,796		2,336		81		(7)		2,410
U.S. government and federal agency		1,957		56		-		2,013		752		45		(27)		770
Retained interests		20		4		-		24		64		8		-		72
Equity
Available-for-sale		197		58		(1)		254		203		51		(3)		251
Trading		22		-		-		22		74		-		-		74
Total	$	42,857	$	5,319	$	(349)	$	47,827	$	41,136	$	3,233	$	(707)	$	43,662

(a) Substantially collateralized by U.S. mortgages. At December 31, 2014, $1,191 million related to securities issued by government-sponsored entities and $534 million related to securities of private-label issuers. Securities issued by private-label issuers are collateralized primarily by pools of individual direct mortgage loans of financial institutions.

Schedule of investments, by type and length in continuous loss position

ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF AVAILABLE-FOR-SALE INVESTMENT SECURITIES

	In loss position for
	Less than 12 months					12 months or more
			Gross					Gross
	Estimated		unrealized			Estimated		unrealized
December 31 (In millions)	fair value		losses		(a)	fair value		losses		(a)

2014
Debt
U.S. corporate	$	554	$	(16)		$	836	$	(53)
State and municipal		81		(1)			348		(55)
Residential mortgage-backed		30		-			159		(6)
Commercial mortgage-backed		165		(1)			204		(9)
Asset-backed		7,493		(158)			77		(17)
Corporate – non-U.S.		42		(1)			237		(29)
Government – non-U.S.		677		(2)			14		-
U.S. government and federal agency		705		-			1		-
Equity		14		(1)			-		-
Total	$	9,761	$	(180)		$	1,876	$	(169)	(b)

2013
Debt
U.S. corporate	$	2,170	$	(122)		$	598	$	(95)
State and municipal		1,076		(82)			367		(109)
Residential mortgage-backed		232		(11)			430		(37)
Commercial mortgage-backed		396		(24)			780		(58)
Asset-backed		112		(2)			359		(44)
Corporate – non-U.S.		96		(3)			454		(83)
Government – non-U.S.		1,479		(6)			42		(1)
U.S. government and federal agency		229		(27)			254		-
Retained interests		2		-			-		-
Equity		31		(3)			-		-
Total	$	5,823	$	(280)		$	3,284	$	(427)

(a) Included gross unrealized losses related to securities that had other-than-temporary impairments previously recognized of $29 million at December 31, 2014.

(b) The majority relate to debt securities held to support obligations to holders of GICs and more than 70% are debt securities that were considered to be investment-grade by the major rating agencies at December 31, 2014.

Pre Tax Other Than Temporary Impairments On Investment Securities [Table Text Block]

PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES

(In millions)	2014		2013		2012

Total pre-tax, OTTI recognized	$	189	$	778	$	192
Pre-tax, OTTI recognized in AOCI		(16)		(31)		(52)
Pre-tax, OTTI recognized in earnings(a)	$	173	$	747	$	140

(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $3 million, $15 million and $38 million in 2014, 2013 and 2012, respectively. The 2013 amount included $96 million related to the impairment of an investment in a Brazilian company that was fully offset by the benefit of a guarantee provided by GE.

Changes in Cumulative Cerdit Loss Impairments Recognized on Debt Securities Still Held

CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD


(In millions)	2014		2013		2012

Cumulative credit loss impairments recognized, beginning of period	$	1,025	$	420	$	579
Credit loss impairments recognized on securities not previously impaired		4		389		27
Incremental credit loss impairments recognized on securities previously impaired		77		336		40
Less credit loss impairments previously recognized on securities sold
during the period or that we intend to sell		304		120		226
Cumulative credit loss impairments recognized, end of period	$	802	$	1,025	$	420

Schedule of contractual maturities

CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES
(EXCLUDING MORTGAGE-BACKED AND ASSET-BACKED SECURITIES)

	Amortized		Estimated
(In millions)	cost		fair value

Due
Within one year	$	2,475	$	2,489
After one year through five years		3,511		3,758
After five years through ten years		5,285		5,686
After ten years		18,782		22,888

Supplemental gross realized gains losses on available-for-sale investment securities

GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES

(In millions)	2014		2013		2012

Gains	$	169	$	239	$	177
Losses, including impairments		(186)		(762)		(211)
Net	$	(17)	$	(523)	$	(34)

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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