Investment Securities (Tables)
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9 Months Ended |
Sep. 30, 2015 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Investments |
| September 30, 2015 | | December 31, 2014 | | | | Gross | | Gross | | | | | | Gross | | Gross | | | | Amortized | | unrealized | | unrealized | | Estimated | | Amortized | | unrealized | | unrealized | | Estimated | | (In millions) | cost | | gains | | losses | | fair value | | cost | | gains | | losses | | fair value | | | | | | | | | | | | | | | | | | | | | | | | | | Debt | | | | | | | | | | | | | | | | | | | | | | | | | U.S. corporate | $ | 19,975 | | $ | 3,102 | | $ | (178) | | $ | 22,899 | | $ | 19,810 | | $ | 3,962 | | $ | (69) | | $ | 23,703 | | State and municipal | | 3,972 | | | 439 | | | (71) | | | 4,340 | | | 4,173 | | | 555 | | | (53) | | | 4,675 | | Residential mortgage-backed(a) | | 905 | | | 84 | | | (5) | | | 984 | | | 1,544 | | | 153 | | | (5) | | | 1,692 | | Commercial mortgage-backed | | 2,295 | | | 121 | | | (12) | | | 2,405 | | | 2,903 | | | 170 | | | (10) | | | 3,063 | | Asset-backed | | 107 | | | 1 | | | (10) | | | 97 | | | 304 | | | 8 | | | (17) | | | 295 | | Corporate – non-U.S. | | 769 | | | 101 | | | (3) | | | 867 | | | 908 | | | 109 | | | (1) | | | 1,016 | | Government – non-U.S. | | 1,094 | | | 158 | | | (1) | | | 1,252 | | | 1,560 | | | 152 | | | (2) | | | 1,710 | | U.S. government and federal agency | | 3,783 | | | 99 | | | - | | | 3,882 | | | 1,957 | | | 56 | | | - | | | 2,013 | | Equity | | | | | | | | | | | | | | | | | | | | | | | | | Available-for-sale | | 113 | | | 16 | | | (4) | | | 125 | | | 109 | | | 24 | | | (1) | | | 132 | | Trading | | 19 | | | - | | | - | | | 19 | | | 21 | | | - | | | - | | | 21 | | Total | $ | 33,032 | | $ | 4,121 | | $ | (285) | | $ | 36,868 | | $ | 33,289 | | $ | 5,189 | | $ | (158) | | $ | 38,320 | | | | | | | | | | | | | | | | | | | | | | | | |
(a) Substantially collateralized by U.S. mortgages. At September 30, 2015, $961 million related to securities issued by government-sponsored entities and $23 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 | | | (In millions) | fair value | losses | (a) | fair value | losses | (a) | | | | | | | | | | | | | | | September 30, 2015 | | | | | | | | | | | | | | Debt | | | | | | | | | | | | | | U.S. corporate | $ | 2,161 | | $ | (130) | | $ | 335 | | $ | (48) | | | State and municipal | | 544 | | | (16) | | | 155 | | | (55) | | | Residential mortgage-backed | | 175 | | | (2) | | | 77 | | | (3) | | | Commercial mortgage-backed | | 351 | | | (8) | | | 26 | | | (4) | | | Asset-backed | | - | | | - | | | 48 | | | (10) | | | Corporate – non-U.S. | | 41 | | | (3) | | | 3 | | | - | | | Government – non-U.S. | | 292 | | | (1) | | | - | | | - | | | U.S. government and federal agency | | 450 | | | - | | | 1 | | | - | | | Equity | | 38 | | | (4) | | | - | | | - | | | Total | $ | 4,052 | | $ | (164) | | $ | 645 | | $ | (121) | (b) | | | | | | | | | | | | | | | December 31, 2014 | | | | | | | | | | | | | | Debt | | | | | | | | | | | | | | U.S. corporate | $ | 554 | | $ | (16) | | $ | 836 | | $ | (53) | | | State and municipal | | 67 | | | (1) | | | 308 | | | (52) | | | Residential mortgage-backed | | 30 | | | - | | | 146 | | | (5) | | | Commercial mortgage-backed | | 165 | | | (1) | | | 204 | | | (9) | | | Asset-backed | | 9 | | | - | | | 42 | | | (17) | | | Corporate – non-U.S. | | 42 | | | (1) | | | 3 | | | - | | | Government – non-U.S. | | 677 | | | (2) | | | 14 | | | - | | | U.S. government and federal agency | | 705 | | | - | | | 1 | | | - | | | Equity | | 6 | | | (1) | | | - | | | - | | | Total | $ | 2,255 | | $ | (22) | | $ | 1,554 | | $ | (136) | | | | | | | | | | | | | | |
(a) Included gross unrealized losses of $1 million related to securities that had other-than-temporary impairments previously recognized at September 30, 2015. (b) Includes debt securities held to support obligations to holders of GICs all of which are considered to be investment-grade by the major rating agencies at September 30, 2015. |
| Pre Tax Other Than Temporary Impairments On Investment Securities [Table Text Block] |
| PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES | | | | | | | | | | | | | | Three months ended September 30 | | Nine months ended September 30 | | (In millions) | 2015 | | 2014 | | 2015 | | 2014 | | | | | | | | | | | | | | Total pre-tax, OTTI recognized | $ | 2 | | $ | 2 | | $ | 21 | | $ | 18 | | Pre-tax, OTTI recognized in AOCI | | - | | | - | | | - | | | (4) | | Pre-tax, OTTI recognized in earnings(a) | $ | 2 | | $ | 2 | | $ | 21 | | $ | 14 | | | | | | | | | | | | |
(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of $1 million and none in the three months ended September 30, 2015 and 2014, respectively and $1 million and $2 million in the nine months ended September 30, 2015 and 2014, respectively. |
| Changes in Cumulative Cerdit Loss Impairments Recognized on Debt Securities Still Held |
| CHANGES IN CUMULATIVE CREDIT LOSS IMPAIRMENTS RECOGNIZED ON DEBT SECURITIES STILL HELD | | | | | | | | | | | | | | Three months ended September 30 | | Nine months ended September 30 | | (In millions) | 2015 | | 2014 | | 2015 | | 2014 | | | | | | | | | | | | | | Cumulative credit loss impairments recognized, beginning of period | $ | 6 | | $ | 255 | | $ | 8 | | $ | 306 | | Credit loss impairments recognized | | | | | | | | | | | | | on securities not previously impaired | | - | | | - | | | - | | | - | | Incremental credit loss impairments recognized | | | | | | | | | | | | | on securities previously impaired | | - | | | 2 | | | - | | | 4 | | Less credit loss impairments previously recognized | | | | | | | | | | | | | on securities sold during the period or that we intend to sell | | - | | | - | | | 2 | | | 53 | | Cumulative credit loss impairments recognized, end of period | $ | 6 | | $ | 257 | | $ | 6 | | $ | 257 | | | | | | | | | | | | |
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| 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 | | | | | | | $ | 2,162 | | $ | 2,171 | | After one year through five years | | | | | | | | 4,656 | | | 4,868 | | After five years through ten years | | | | | | | | 4,854 | | | 5,217 | | After ten years | | | | | | | | 17,921 | | | 20,983 | | | | | | | | | | | | |
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| Supplemental gross realized gains losses on available-for-sale investment securities |
| GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES | | | | | | | | | | | | | | | | | Three months ended September 30 | | Nine months ended September 30 | | (In millions) | 2015 | | 2014 | | 2015 | | 2014 | | | | | | | | | | | | | | Gains | $ | 21 | | $ | 1 | | $ | 122 | | $ | 37 | | Losses, including impairments | | (6) | | | (5) | | | (41) | | | (18) | | Net | $ | 15 | | $ | (4) | | $ | 81 | | $ | 19 | | | | | | | | | | | | |
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