v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Under applicable accounting standards, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most
advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Corporation determines the fair values of its financial instruments under applicable accounting standards and conducts a review of fair value hierarchy classifications on a quarterly basis. Transfers into or out of fair value hierarchy classifications are made if the significant inputs used in the financial models measuring the fair values of the assets and liabilities become unobservable or observable in the current marketplace. During the three months ended March 31, 2026, there were no changes to valuation approaches or techniques that had, or are expected to have, a material impact on the Corporation’s consolidated financial position or results of operations.
For more information regarding the fair value hierarchy, how the Corporation measures fair value and valuation techniques, see Note 1 – Summary of Significant Accounting Principles and Note 20 – Fair Value Measurements to the Consolidated Financial Statements of the Corporation’s 2025 Annual Report on Form 10-K. The Corporation accounts for certain financial instruments under the fair value option. For more information, see Note 15 – Fair Value Option.

Recurring Fair Value
Assets and liabilities carried at fair value on a recurring basis at March 31, 2026 and December 31, 2025, including financial instruments that the Corporation accounts for under the fair value option, are summarized in the following tables.
March 31, 2026
 Fair Value Measurements
(Dollars in millions)Level 1Level 2Level 3
Netting Adjustments (1)
Assets/Liabilities at Fair Value
Assets     
Time deposits placed and other short-term investments
$1,343 $— $— $— $1,343 
Federal funds sold and securities borrowed or purchased under agreements to resell
— 640,749 — (412,736)228,013 
Trading account assets:     
U.S. Treasury and government agencies72,490 1,176 — — 73,666 
Corporate securities, trading loans and other— 58,530 2,069 — 60,599 
Equity securities80,280 31,972 286 — 112,538 
Non-U.S. sovereign debt14,206 43,453 246 — 57,905 
Mortgage trading loans, MBS and ABS:
U.S. government-sponsored agency guaranteed— 50,109 8 — 50,117 
Mortgage trading loans, ABS and other MBS— 8,386 1,010 — 9,396 
Total trading account assets (2)
166,976 193,626 3,619 — 364,221 
Derivative assets20,047 313,574 4,842 (290,148)48,315 
AFS debt securities:     
U.S. Treasury and government agencies213,702 745 — — 214,447 
Mortgage-backed securities:     
Agency— 43,446 — — 43,446 
Agency-collateralized mortgage obligations— 18,275 — — 18,275 
Non-agency residential— 263 — — 263 
Commercial— 43,900 41 — 43,941 
Non-U.S. securities930 32,436 46 — 33,412 
Other taxable securities— 6,131 — — 6,131 
Tax-exempt securities— 9,048 — — 9,048 
Total AFS debt securities214,632 154,244 87 — 368,963 
Other debt securities carried at fair value:
U.S. Treasury and government agencies4,680 — — — 4,680 
Agency MBS— 5 — — 5 
Non-agency residential MBS— 239 — — 239 
Non-U.S. and other securities
1,169 11,333 — — 12,502 
Total other debt securities carried at fair value5,849 11,577 — — 17,426 
Loans and leases— 3,687 70 — 3,757 
Loans held-for-sale— 5,377 54 — 5,431 
Other assets (3)
6,492 3,551 2,064 — 12,107 
Total assets (4)
$415,339 $1,326,385 $10,736 $(702,884)$1,049,576 
Liabilities     
Interest-bearing deposits in U.S. offices$— $1,783 $— $— $1,783 
Federal funds purchased and securities loaned or sold under agreements to repurchase
— 640,037 — (412,736)227,301 
Trading account liabilities:    
U.S. Treasury and government agencies18,877 130 — — 19,007 
Equity securities61,909 5,937 18 — 67,864 
Non-U.S. sovereign debt14,692 12,843 — — 27,535 
Corporate securities and other— 15,321 92 — 15,413 
Mortgage trading loans and ABS— 14 — — 14 
Total trading account liabilities95,478 34,245 110 — 129,833 
Derivative liabilities19,686 307,950 5,426 (289,124)43,938 
Short-term borrowings— 11,434 10 — 11,444 
Accrued expenses and other liabilities7,209 3,564 52 — 10,825 
Long-term debt— 78,703 571 — 79,274 
Total liabilities (4)
$122,373 $1,077,716 $6,169 $(701,860)$504,398 
(1)Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties.
(2)Includes securities with a fair value of $16.0 billion that were segregated in compliance with securities regulations or deposited with clearing organizations. This amount is included in the parenthetical disclosure on the Consolidated Balance Sheet. Trading account assets also includes certain commodities inventory of $703 million that is accounted for at the lower of cost or net realizable value, which is the current selling price less any costs to sell.
(3)Includes MSRs, which are classified as Level 3 assets, of $963 million.
(4)Total recurring Level 3 assets were 0.31 percent of total consolidated assets, and total recurring Level 3 liabilities were 0.19 percent of total consolidated liabilities.
December 31, 2025
Fair Value Measurements
(Dollars in millions)Level 1Level 2Level 3
Netting Adjustments (1)
Assets/Liabilities at Fair Value
Assets     
Time deposits placed and other short-term investments
$1,242 $— $— $— $1,242 
Federal funds sold and securities borrowed or purchased under agreements to resell— 672,313 — (486,822)185,491 
Trading account assets:     
U.S. Treasury and government agencies83,234 3,036 — — 86,270 
Corporate securities, trading loans and other— 59,456 1,922 — 61,378 
Equity securities77,225 39,110 322 — 116,657 
Non-U.S. sovereign debt5,745 41,014 240 — 46,999 
Mortgage trading loans, MBS and ABS:
U.S. government-sponsored agency guaranteed— 44,691 9 — 44,700 
Mortgage trading loans, ABS and other MBS— 10,024 926 — 10,950 
Total trading account assets (2)
166,204 197,331 3,419 — 366,954 
Derivative assets18,469 269,936 3,802 (251,326)40,881 
AFS debt securities:     
U.S. Treasury and government agencies249,025 809 — — 249,834 
Mortgage-backed securities:     
Agency— 33,141 — — 33,141 
Agency-collateralized mortgage obligations— 19,199 — — 19,199 
Non-agency residential— 263 9 — 272 
Commercial— 38,472 22 — 38,494 
Non-U.S. securities235 31,488 44 — 31,767 
Other taxable securities— 6,026 278 — 6,304 
Tax-exempt securities— 7,787 — — 7,787 
Total AFS debt securities249,260 137,185 353 — 386,798 
Other debt securities carried at fair value:
U.S. Treasury and government agencies3,285 — — — 3,285 
Non-agency residential MBS— 123 125 — 248 
Non-U.S. and other securities664 11,980 — — 12,644 
Total other debt securities carried at fair value3,949 12,103 125 — 16,177 
Loans and leases— 3,422 76 — 3,498 
Loans held-for-sale— 2,216 55 — 2,271 
Other assets (3)
3,742 3,198 2,118 — 9,058 
Total assets (4)
$442,866 $1,297,704 $9,948 $(738,148)$1,012,370 
Liabilities     
Interest-bearing deposits in U.S. offices$— $1,223 $— $— $1,223 
Federal funds purchased and securities loaned or sold under agreements to repurchase— 709,889 — (486,822)223,067 
Trading account liabilities:    
U.S. Treasury and government agencies8,174 5 — — 8,179 
Equity securities58,980 6,063 14 — 65,057 
Non-U.S. sovereign debt4,771 15,644 — — 20,415 
Corporate securities and other— 12,214 119 — 12,333 
Mortgage trading loans and ABS— 12 — — 12 
Total trading account liabilities71,925 33,938 133 — 105,996 
Derivative liabilities18,470 274,002 5,115 (255,511)42,076 
Short-term borrowings— 8,011 40 — 8,051 
Accrued expenses and other liabilities4,656 4,312 28 — 8,996 
Long-term debt— 72,110 481 — 72,591 
Total liabilities (4)
$95,051 $1,103,485 $5,797 $(742,333)$462,000 
(1)Amounts represent the impact of legally enforceable master netting agreements and also cash collateral held or placed with the same counterparties.
(2)Includes securities with a fair value of $13.2 billion that were segregated in compliance with securities regulations or deposited with clearing organizations. This amount is included in the parenthetical disclosure on the Consolidated Balance Sheet. Trading account assets also includes certain commodities inventory of $27 million that is accounted for at the lower of cost or net realizable value, which is the current selling price less any costs to sell.
(3)Includes MSRs, which are classified as Level 3 assets, of $946 million.
(4)Total recurring Level 3 assets were 0.29 percent of total consolidated assets, and total recurring Level 3 liabilities were 0.19 percent of total consolidated liabilities.
The following tables present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2026 and 2025, including net realized and unrealized gains (losses) included in earnings and accumulated OCI. Transfers into Level 3 occur primarily due to
decreased price observability, and transfers out of Level 3 occur primarily due to increased price observability. Transfers occur on a regular basis for long-term debt instruments due to changes in the impact of unobservable inputs on the value of the embedded derivative in relation to the instrument as a whole.
Level 3 – Fair Value Measurements (1)
Balance January 1
Total
Realized/Unrealized Gains
 (Losses) in Net
 Income (2)
Gains
(Losses)
in OCI (3)
GrossGross
Transfers
into
Level 3 		Gross
Transfers
out of
Level 3 		Balance March 31
Change in Unrealized Gains (Losses) in Net Income Related to Financial Instruments Still Held (2)
(Dollars in millions)PurchasesSalesIssuancesSettlements
Three Months Ended March 31, 2026
Trading account assets:       
Corporate securities, trading loans and other $1,922 $115 $4 $609 $(413)$29 $(242)$267 $(222)$2,069 $72 
Equity securities322 (12)— 32 (40)— — 12 (28)286 (12)
Non-U.S. sovereign debt240 (3)7 7 (3)— (15)13 — 246 (3)
Mortgage trading loans, MBS and ABS935 (23)— 190 (107)— (57)116 (36)1,018 (28)
Total trading account assets3,419 77 11 838 (563)29 (314)408 (286)3,619 29 
Net derivative assets (liabilities) (4)
(1,313)1,077 — 348 (473)— 136 (520)161 (584)1,196 
AFS debt securities:          
Non-agency residential MBS9 — — — — — — — (9)— — 
Commercial MBS22 — — 18 — — (1)2 — 41 — 
Non-U.S. and other taxable securities322 — — 5 — — (3)— (278)46 — 
Total AFS debt securities353 — — 23 — — (4)2 (287)87 — 
Other debt securities carried at fair value – Non-agency residential MBS125 — — — — — — — (125)— — 
Loans and leases (5)
76 — — — — — (6)— — 70 (1)
Loans held-for-sale (5)
55 1 1 — — — (5)2 — 54 — 
Other assets (6,7)
2,118 (30)— 15 — 62 (101)— — 2,064 (34)
Trading account liabilities – Equity securities(14)— — 4 (3)— — (5)— (18)— 
Trading account liabilities – Corporate securities
   and other
(119)(4)— (1)— (1)30 (1)4 (92)(6)
Short-term borrowings (5)
(40)33 — — — (5)2 — — (10)(1)
Accrued expenses and other liabilities (5)
(28)(53)— — — — 25 — 4 (52)(53)
Long-term debt (5)
(481)(66)16 — — (45)5 — — (571)(66)
Three Months Ended March 31, 2025
Trading account assets:
Corporate securities, trading loans and other$1,814 $122 $1 $514 $(346)$8 $(304)$203 $(99)$1,913 $35 
Equity securities374 9 — 56 (13)— (105)45 (31)335 1 
Non-U.S. sovereign debt344 49 15 16 — — (171)— (11)242 49 
Mortgage trading loans, MBS and ABS978 3 — 87 (96)— (17)93 (61)987 17 
Total trading account assets3,510 183 16 673 (455)8 (597)341 (202)3,477 102 
Net derivative assets (liabilities) (4)
(1,961)850 — 246 (377)— (43)(254)9 (1,530)776 
AFS debt securities:       
Non-agency residential MBS247 — — — — — — — (240)7 — 
Commercial MBS328 (2)3 225 — — (90)— — 464 (2)
Non-U.S. and other taxable securities36 — (1)506 — — (2)— — 539 — 
Total AFS debt securities611 (2)2 731 — — (92)— (240)1,010 (2)
Other debt securities carried at fair value – Non-agency residential MBS149 2 — — — — (1)— (99)51 (1)
Loans and leases (5)
82 1 — — — — (2)44 — 125 1 
Loans held-for-sale (5)
132 13 2 — (14)— (10)— — 123 5 
Other assets (6,7)
1,969 (18)8 32 — 37 (69)— — 1,959 (35)
Trading account liabilities – Equity securities(10)3 — 3 — — — (3)2 (5)3 
Trading account liabilities – Corporate securities
   and other
(110)(33)— (1)(4)— 10 (11)1 (148)(40)
Accrued expenses and other liabilities (5)
(89)(7)— 2 — — — — — (94)(7)
Long-term debt (5)
(553)(23)10 — — — 123 — — (443)(23)
(1)Assets (liabilities). For assets, increase (decrease) to Level 3 and for liabilities, (increase) decrease to Level 3.
(2)Includes gains (losses) reported in earnings in the following income statement line items: Trading account assets/liabilities - market making and similar activities and other income; Net derivative assets (liabilities) - market making and similar activities and other income; AFS debt securities - other income; Other debt securities carried at fair value - other income; Loans and leases - other income; Loans held-for-sale - other income; Other assets - market making and similar activities and other income; Short-term borrowings - market making and similar activities; Accrued expenses and other liabilities - other income; Long-term debt - market making and similar activities.
(3)Includes unrealized gains (losses) in OCI on AFS debt securities, foreign currency translation adjustments, derivatives designated in cash flow hedges and the impact of changes in the Corporation’s credit spreads on long-term debt accounted for under the fair value option. Amounts include net unrealized gains of $26 million and $25 million related to financial instruments still held at March 31, 2026 and 2025.
(4)Net derivative assets (liabilities) include derivative assets of $4.8 billion and $3.5 billion and derivative liabilities of $5.4 billion and $5.0 billion at March 31, 2026 and 2025.
(5)Amounts represent instruments that are accounted for under the fair value option.
(6)Issuances represent MSRs recognized following securitizations or whole-loan sales.
(7)Settlements primarily represent the net change in fair value of the MSR asset due to the recognition of modeled cash flows and the passage of time.
The following tables present information about significant unobservable inputs related to the Corporation’s material categories of Level 3 financial assets and liabilities at March 31, 2026 and December 31, 2025.
Quantitative Information about Level 3 Fair Value Measurements at March 31, 2026
(Dollars in millions)Inputs
Financial InstrumentFair
Value		Valuation
Technique		Significant Unobservable
Inputs		Ranges of
Inputs
Weighted Average (1)
Loans and Securities (2)
Instruments backed by residential real estate assets$179 Discounted cash flow, Market comparables Yield
0% to 15%
8%
Trading account assets – Mortgage trading loans, MBS and ABS114 Prepayment speed
0% to 41% CPR
6% CPR
Loans and leases65 Default rate
0% to 7% CDR
6% CDR
Price
$0 to $115
$53
Loss severity
0% to 82%
26%
Instruments backed by commercial real estate assets$342 
Discounted cash
flow, Asset-based approach
Yield
0% to 5%
2%
Trading account assets – Corporate securities, trading loans and other239 Price
$0 to $101
$64
Trading account assets – Mortgage trading loans, MBS and ABS45 
AFS debt securities – Commercial41 
Loans held-for-sale17 
Commercial loans, debt securities and other$3,023 Discounted cash flow, Market comparablesYield
0% to 24%
12%
Trading account assets – Corporate securities, trading loans and other
1,830 Prepayment speed
20%
n/a
Trading account assets – Non-U.S. sovereign debt246 Default rate
2%
n/a
Trading account assets – Mortgage trading loans, MBS and ABS859 Loss severity
30%
n/a
AFS debt securities – Non-U.S. and other taxable securities46 Price
$0 to $134
$61
Loans and leases5 
Loans held-for-sale37 
Other assets, primarily MSRs and tax-related equity investments
$2,064 Discounted cash flow, Market comparablesPrice
$10 to $95
$83

Yield
9% to 11%
10%
Weighted-average life, fixed rate (5)
0 to 13 years
6 years
Weighted-average life, variable rate (5)
0 to 10 years
4 years
Option-adjusted spread, fixed rate
7% to 14%
9%
Option-adjusted spread, variable rate
9% to 15%
11%
Structured liabilities
Long-term debt $(571)Discounted cash flow, Market comparables Yield
16% to 22%
20%
Price
$28 to $103
$93
Natural gas forward price
$1/MMBtu to $7/MMBtu
$3 /MMBtu
Net derivative assets (liabilities)
Credit derivatives$50 
Market comparables, Discounted cash flow, Stochastic recovery correlation model
Credit spreads
5 to 325 bps
41 bps
Default rate
 2% CDR
n/a
Credit correlation
41% to 73%
62%
Price
$0 to $108
$63
Equity derivatives$(376)
Industry standard derivative pricing (3)
Equity correlation
0% to 100%
64%
Long-dated equity volatilities
0% to 100%
39%
Commodity derivatives$(646)
Discounted cash
flow
Natural gas forward price
$1/MMBtu to $7/MMBtu
$3/MMBtu
Commodities volatilities
65% to 96%
78%
Power forward price
$28 to $125
$54 
Interest rate derivatives$388 
Industry standard derivative pricing (4)
Correlation (IR/IR)
(35)% to 70%
45%
Correlation (FX/IR)
(10)% to 58%
25%
Long-dated inflation rates
 0% to 17%
2%
Interest rate volatilities
0% to 1%
1%
Total net derivative assets (liabilities)$(584)
(1)For loans and securities, structured liabilities and net derivative assets (liabilities), the weighted average is calculated based upon the absolute fair value of the instruments.
(2)The categories are aggregated based upon product type, which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 83: Trading account assets – Corporate securities, trading loans and other of $2.1 billion, Trading account assets – Non-U.S. sovereign debt of $246 million, Trading account assets – Mortgage trading loans, MBS and ABS of $1.0 billion, AFS debt securities of $87 million, Other assets of $2.1 billion, Loans and leases of $70 million and LHFS of $54 million.
(3)Includes models such as Monte Carlo simulation and Black-Scholes.
(4)Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates.
(5)The weighted-average life is a product of changes in market rates of interest, prepayment rates and other model and cash flow assumptions.
CPR = Constant Prepayment Rate
CDR = Constant Default Rate
MMBtu = Million British thermal units
IR = Interest Rate
FX = Foreign Exchange
n/a = not applicable
Quantitative Information about Level 3 Fair Value Measurements at December 31, 2025
(Dollars in millions)Inputs
Financial InstrumentFair
Value		Valuation
Technique		Significant Unobservable
Inputs		Ranges of
Inputs
Weighted Average (1)
Loans and Securities (2)
Instruments backed by residential real estate assets$327 Discounted cash
flow, Market comparables		Yield
0% to 15%
8%
Trading account assets – Mortgage trading loans, MBS and ABS120 
Prepayment speed
0% to 40% CPR
7% CPR
Loans and leases73 Default rate
0% to 7% CDR
7% CDR
AFS debt securities - Non-agency residential9 Price
$0 to $115
$53
Other debt securities carried at fair value - Non-agency residential125 Loss severity
0% to 81%
27%
Instruments backed by commercial real estate assets$373 Discounted cash
flow, Asset based approach		Yield
0% to 5%
2%
Trading account assets – Corporate securities, trading loans and other304 Price
$0 to $100
$42
Trading account assets – Mortgage trading loans, MBS and ABS47 
AFS debt securities – Commercial
22 
Commercial loans, debt securities and other$3,006 Discounted cash flow, Market comparablesYield
 4% to 24%
13%
Trading account assets – Corporate securities, trading loans and other
1,618 
Prepayment speed
20%
n/a
Trading account assets – Non-U.S. sovereign debt240 Default rate
2%
n/a
Trading account assets – Mortgage trading loans, MBS and ABS768 Loss severity
30%
n/a
AFS debt securities – Non-U.S. and other taxable securities322 Price
 $0 to $137
$67
Loans and leases3 
Loans held-for-sale55 
Other assets, primarily MSRs and tax-related equity investments
$2,118 Discounted cash flow, Market comparables
Price
$10 to $95
$84

Yield
8% to 11%
9 %
Weighted-average life, fixed rate (5)
0 to 14 years
6 years
Weighted-average life, variable rate (5)
0 to 11 years
4 years
Option-adjusted spread, fixed rate
7% to 14%
9%
Option-adjusted spread, variable rate
9% to 15%
12%
Structured liabilities
Long-term debt $(481)Discounted cash flow, Market comparablesYield
15% to 22%
20%
Price
$29 to $101
$93
Natural gas forward price
$2/MMBtu to $6/MMBtu
$3/MMBtu
Net derivative assets (liabilities)
Credit derivatives
$(3)Market comparables, Discounted cash flow, Stochastic recovery correlation modelCredit spreads
5 to 245 bps
36 bps
Default rate
2% CDR
n/a
Credit correlation
40% to 74%
67%
Price
$0 to $111
$106
Equity derivatives
$(1,018)
Industry standard derivative pricing (3)
Equity correlation
0% to 100%
68%
Long-dated equity volatilities
0% to 104%
37%
Commodity derivatives
$(664)
Discounted cash
flow
Natural gas forward price
$2/MMBtu to $6/MMBtu
$3/MMBtu
Commodities volatilities
49% to 53%
51%
Power forward price
$29 to $134
$56 
Interest rate derivatives
$372 
Industry standard derivative pricing (4)
Correlation (IR/IR)
(35)% to 70%
45%
Correlation (FX/IR)
(5)% to 58%
26%
Long-dated inflation rates
G(1)% to 20%
2%
Long-dated inflation volatilities
5%
n/a
Interest rates volatilities
(1)% to 1%
0%
Total net derivative assets (liabilities)$(1,313)
(1)For loans and securities, structured liabilities and net derivative assets (liabilities), the weighted average is calculated based upon the absolute fair value of the instruments.
(2)The categories are aggregated based upon product type, which differs from financial statement classification. The following is a reconciliation to the line items in the table on page 84: Trading account assets – Corporate securities, trading loans and other of $1.9 billion, Trading account assets – Non-U.S. sovereign debt of $240 million, Trading account assets – Mortgage trading loans, MBS and ABS of $935 million, AFS debt securities of $353 million, Other debt securities carried at fair value - Non-agency residential of $125 million, Other assets of $2.1 billion, Loans and leases of $76 million and LHFS of $55 million.
(3)Includes models such as Monte Carlo simulation and Black-Scholes.
(4)Includes models such as Monte Carlo simulation, Black-Scholes and other methods that model the joint dynamics of interest, inflation and foreign exchange rates.
(5)The weighted-average life is a product of changes in market rates of interest, prepayment rates and other model and cash flow assumptions.
CPR = Constant Prepayment Rate
CDR = Constant Default Rate
MMBtu = Million British thermal units
IR = Interest Rate
FX = Foreign Exchange
n/a = not applicable
Uncertainty of Fair Value Measurements from Unobservable Inputs
For information on the types of instruments, valuation approaches and the impact of changes in unobservable inputs used in Level 3 measurements, see Note 20 – Fair Value Measurements to the Consolidated Financial Statements of the Corporation’s 2025 Annual Report on Form 10-K.
Nonrecurring Fair Value
The Corporation holds certain assets that are measured at fair value only in certain situations (e.g., the impairment of an asset), and these measurements are referred to herein as nonrecurring. The amounts below represent assets still held as of the reporting date for which a nonrecurring fair value adjustment was recorded during the three months ended March 31, 2026 and 2025.
Assets Measured at Fair Value on a Nonrecurring Basis
March 31, 2026Three Months Ended March 31, 2026
(Dollars in millions)
 		Level 2Level 3Gains (Losses)
Assets  
Loans held-for-sale$65 $196 $(23)
Foreclosed properties (1)
— 48 (3)
 March 31, 2025Three Months Ended March 31, 2025
Assets  
Loans held-for-sale$85 $229 $55 
Foreclosed properties (1)
— 43 — 
(1)Amounts are included in other assets on the Consolidated Balance Sheet and represent the carrying value of foreclosed properties that were written down subsequent to their initial classification as foreclosed properties. Losses on foreclosed properties include losses recorded during the first 90 days after transfer of a loan to foreclosed properties.
The table below presents information about significant unobservable inputs utilized in the Corporation's nonrecurring Level 3 fair value measurements during the three months ended March 31, 2026.
Quantitative Information about Nonrecurring Level 3 Fair Value Measurements
Inputs
Financial InstrumentFair ValueValuation
Technique		Significant Unobservable
Inputs		Ranges of
Inputs
Weighted
Average (1)
(Dollars in millions)Three Months Ended March 31, 2026
Loans held-for-sale$196 Pricing modelImplied yield
12% to 38%
n/a
(1)The weighted average is calculated based upon the fair value of the loans.
There were no significant Level 3 instruments held as of December 31, 2025 that had nonrecurring fair value measurements for the year ended December 31, 2025.