Fair Values of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Fair Values of Assets and Liabilities (Tables) [Abstract]

Fair Value, Measurements from Independent Brokers or Independent Third Party Pricing Services



					Independent brokers			Third party pricing services
(in millions)					Level 1	Level 2	Level 3	Level 1	Level 2	Level 3

December 31, 2011
Trading assets (excluding derivatives)				$	-	446	7	1,086	1,564	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	868	5,748	-
	Securities of U.S. states and political subdivisions				-	16	-	-	21,014	-
	Mortgage-backed securities				-	2,342	43	-	118,107	186
	Other debt securities				-	1,091	8,163	-	26,222	145
		Total debt securities			-	3,449	8,206	868	171,091	331
		Total marketable equity securities			-	-	-	33	665	3
			Total securities available for sale		-	3,449	8,206	901	171,756	334
Derivatives (trading and other assets)					-	17	44	-	834	-
Loans held for sale					-	-	-	-	1	-
Derivatives (liabilities)					-	11	43	-	850	-
Other liabilities					-	22	-	6	249	-


December 31, 2010
Trading assets (excluding derivatives)				$	-	1,211	6	21	2,123	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	936	263	-
	Securities of U.S. states and political subdivisions				-	15	-	-	14,055	-
	Mortgage-backed securities				-	3	50	-	102,206	169
	Other debt securities				-	201	4,133	-	14,376	606
		Total debt securities			-	219	4,183	936	130,900	775
		Total marketable equity securities			-	-	-	201	727	16
			Total securities available for sale		-	219	4,183	1,137	131,627	791
Derivatives (trading and other assets)					-	15	44	-	740	8
Loans held for sale					-	-	-	-	1	-
Derivatives (liabilities)					-	-	46	-	841	-
Other liabilities					-	20	-	-	393	-

Assets and Liabilities Recorded at Fair Value on a Recurring Basis



(in millions)							Level 1	Level 2	Level 3	Netting		Total
December 31, 2011
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	3,342	3,638	-	-		6,980
	Securities of U.S. states and political subdivisions						-	2,438	53	-		2,491
	Collateralized debt obligations(1)						-	-	1,582	-		1,582
	Corporate debt securities						-	6,479	97	-		6,576
	Mortgage-backed securities						-	34,959	108	-		35,067
	Asset-backed securities						-	1,093	190	-		1,283
	Equity securities						1,682	172	4	-		1,858
		Total trading securities					5,024	48,779	2,034	-		55,837
	Other trading assets						1,847	68	115	-		2,030
			Total trading assets (excluding derivatives)				6,871	48,847	2,149	-		57,867
Securities of U.S. Treasury and federal agencies							869	6,099	-	-		6,968
Securities of U.S. states and political subdivisions							-	21,077	11,516	-		32,593
Mortgage-backed securities:
	Federal agencies						-	96,754	-	-		96,754
	Residential						-	17,775	61	-		17,836
	Commercial						-	17,918	232	-		18,150
		Total mortgage-backed securities					-	132,447	293	-		132,740
Corporate debt securities							317	17,792	295	-		18,404
Collateralized debt obligations(2)							-	-	8,599	-		8,599
Asset-backed securities:
	Auto loans and leases						-	86	6,641	-		6,727
	Home equity loans						-	650	282	-		932
	Other asset-backed securities						-	8,326	2,863	-		11,189
		Total asset-backed securities					-	9,062	9,786	-		18,848
Other debt securities							-	1,044	-	-		1,044
			Total debt securities				1,186	187,521	30,489	-		219,196
Marketable equity securities:
	Perpetual preferred securities (3)						552	631	1,344	-		2,527
	Other marketable equity securities						814	53	23	-		890
			Total marketable equity securities				1,366	684	1,367	-		3,417
				Total securities available for sale			2,552	188,205	31,856	-		222,613
Mortgages held for sale							-	41,381	3,410	-		44,791
Loans held for sale							-	1,176	-	-		1,176
Loans							-	5,893	23	-		5,916
Mortgage servicing rights (residential)							-	-	12,603	-		12,603
Derivative assets:
	Interest rate contracts						-	91,022	1,055	-		92,077
	Commodity contracts						-	4,351	-	-		4,351
	Equity contracts						471	2,737	560	-		3,768
	Foreign exchange contracts						35	4,873	16	-		4,924
	Credit contracts						-	2,219	1,357	-		3,576
	Other derivative contracts						-	-	-	-		-
		Netting					-	-	-	(81,143)	(4)	(81,143)
			Total derivative assets (5)				506	105,202	2,988	(81,143)		27,553
Other assets							88	135	244	-		467
					Total assets recorded at fair value	$	10,017	390,839	53,273	(81,143)		372,986
Derivative liabilities:
	Interest rate contracts					$	(4)	(88,164)	(446)	-		(88,614)
	Commodity contracts						-	(4,234)	-	-		(4,234)
	Equity contracts						(229)	(2,797)	(635)	-		(3,661)
	Foreign exchange contracts						(31)	(3,324)	(23)	-		(3,378)
	Credit contracts						-	(2,099)	(3,355)	-		(5,454)
	Other derivative contracts						-	-	(117)	-		(117)
		Netting					-	-	-	89,990	(4)	89,990
			Total derivative liabilities (6)				(264)	(100,618)	(4,576)	89,990		(15,468)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(3,820)	(919)	-	-		(4,739)
	Securities of U.S. states and political subdivisions						-	(2)	-	-		(2)
	Corporate debt securities						-	(4,112)	-	-		(4,112)
	Equity securities						(944)	(298)	-	-		(1,242)
	Other securities						-	(737)	-	-		(737)
		Total short sale liabilities					(4,764)	(6,068)	-	-		(10,832)
Other liabilities							-	(98)	(44)	-		(142)
					Total liabilities recorded at fair value	$	(5,028)	(106,784)	(4,620)	89,990		(26,442)

Includes collateralized loan obligations of $583 million that are classified as trading assets.
Includes collateralized loan obligations of $8.1 billion that are classified as securities available for sale.
Perpetual preferred securities include ARS and corporate preferred securities. See Note 8 for additional information.
Derivatives are reported net of cash collateral received and paid and, to the extent that the criteria of the accounting guidance covering the offsetting of amounts related to certain contracts are met, positions with the same counterparty are netted as part of a legally enforceable master netting agreement.
Derivative assets include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets.
Derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading liabilities.

(continued from previous page)


(in millions)							Level 1	Level 2	Level 3	Netting		Total
December 31, 2010
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	1,340	3,335	-	-		4,675
	Securities of U.S. states and political subdivisions						-	1,893	5	-		1,898
	Collateralized debt obligations (1)						-	-	1,915	-		1,915
	Corporate debt securities						-	10,164	166	-		10,330
	Mortgage-backed securities						-	9,137	117	-		9,254
	Asset-backed securities						-	1,811	366	-		2,177
	Equity securities						2,143	625	34	-		2,802
		Total trading securities					3,483	26,965	2,603	-		33,051
	Other trading assets						816	987	136	-		1,939
			Total trading assets (excluding derivatives)				4,299	27,952	2,739	-		34,990
Securities of U.S. Treasury and federal agencies							938	666	-	-		1,604
Securities of U.S. states and political subdivisions							-	14,090	4,564	-		18,654
Mortgage-backed securities:
	Federal agencies						-	82,037	-	-		82,037
	Residential						-	20,183	20	-		20,203
	Commercial						-	13,337	217	-		13,554
		Total mortgage-backed securities					-	115,557	237	-		115,794
Corporate debt securities							-	9,846	433	-		10,279
Collateralized debt obligations (2)							-	-	4,778	-		4,778
Asset-backed securities:
	Auto loans and leases						-	223	6,133	-		6,356
	Home equity loans						-	998	112	-		1,110
	Other asset-backed securities						-	5,285	3,150	-		8,435
		Total asset-backed securities					-	6,506	9,395	-		15,901
Other debt securities							-	370	85	-		455
			Total debt securities				938	147,035	19,492	-		167,465
Marketable equity securities:
	Perpetual preferred securities (3)						721	677	2,434	-		3,832
	Other marketable equity securities						1,224	101	32	-		1,357
			Total marketable equity securities				1,945	778	2,466	-		5,189
				Total securities available for sale			2,883	147,813	21,958	-		172,654
Mortgages held for sale							-	44,226	3,305	-		47,531
Loans held for sale							-	873	-	-		873
Loans							-	-	309	-		309
Mortgage servicing rights (residential)							-	-	14,467	-		14,467
Derivative assets:
	Interest rate contracts						-	67,380	869	-		68,249
	Commodity contracts						-	4,133	-	-		4,133
	Equity contracts						511	2,040	721	-		3,272
	Foreign exchange contracts						42	4,257	51	-		4,350
	Credit contracts						-	2,148	3,198	-		5,346
	Other derivative contracts						8	-	-	-		8
		Netting					-	-	-	(63,469)	(4)	(63,469)
			Total derivative assets (5)				561	79,958	4,839	(63,469)		21,889
Other assets							38	45	314	-		397
					Total assets recorded at fair value	$	7,781	300,867	47,931	(63,469)		293,110
Derivative liabilities:
	Interest rate contracts					$	(7)	(62,769)	(792)	-		(63,568)
	Commodity contracts						-	(3,917)	(1)	-		(3,918)
	Equity contracts						(259)	(2,291)	(946)	-		(3,496)
	Foreign exchange contracts						(69)	(3,351)	(42)	-		(3,462)
	Credit contracts						-	(2,199)	(4,215)	-		(6,414)
	Other derivative contracts						-	-	(35)	-		(35)
		Netting					-	-	-	70,009	(4)	70,009
			Total derivative liabilities (6)				(335)	(74,527)	(6,031)	70,009		(10,884)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(2,827)	(1,129)	-	-		(3,956)
	Corporate debt securities						-	(3,798)	-	-		(3,798)
	Equity securities						(1,701)	(178)	-	-		(1,879)
	Other securities						-	(347)	-	-		(347)
		Total short sale liabilities					(4,528)	(5,452)	-	-		(9,980)
Other liabilities							-	(36)	(344)	-		(380)
					Total liabilities recorded at fair value	$	(4,863)	(80,015)	(6,375)	70,009		(21,244)

Includes collateralized loan obligations of $671 million that are classified as trading assets.
Includes collateralized loan obligations of $4.2 billion that are classified as securities available for sale.
Perpetual preferred securities include ARS and corporate preferred securities. See Note 8 for additional information.
Derivatives are reported net of cash collateral received and paid and, to the extent that the criteria of the accounting guidance covering the offsetting of amounts related to certain contracts are met, positions with the same counterparty are netted as part of a legally enforceable master netting agreement.
Derivative assets include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets.
Derivative liabilities include contracts qualifying for hedge accounting, economic hedges and derivatives included in trading liabilities.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Level 3 Reconciliation



															Net unrealized
									Total net gains		Purchases,				gains (losses)
									(losses) included in		sales,				included in net
										Other	issuances				income related
								Balance,		compre-	and	Transfers	Transfers	Balance,	to assets and
							beginning		Net	hensive	settlements,	into	out of	end of	liabilities held
(in millions)								of year	income	income	net	Level 3	Level 3	year	at period end (1)
Year ended December 31, 2011
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	5	3	-	12	51	(18)	53	-
	Collateralized debt obligations							1,915	(24)	-	(297)	-	(12)	1,582	1
	Corporate debt securities							166	1	-	(70)	-	-	97	(80)
	Mortgage-backed securities							117	6	-	(36)	31	(10)	108	(4)
	Asset-backed securities							366	75	-	(122)	-	(129)	190	(2)
	Equity securities							34	(3)	-	(28)	1	-	4	72
		Total trading securities						2,603	58	-	(541)	83	(169)	2,034	(13)
Other trading assets								136	(21)	-	2	-	(2)	115	14
			Total trading assets
				(excluding derivatives)				2,739	37	-	(539)	83	(171)	2,149	1	(2)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						4,564	10	52	6,923	-	(33)	11,516	9
	Mortgage-backed securities:
		Residential						20	(9)	(1)	(6)	121	(64)	61	(8)
		Commercial						217	(44)	59	2	2	(4)	232	(56)
			Total mortgage-backed
				securities				237	(53)	58	(4)	123	(68)	293	(64)
	Corporate debt securities							433	150	(112)	(185)	41	(32)	295	(3)
	Collateralized debt obligations							4,778	290	(202)	3,725	8	-	8,599	-
	Asset-backed securities:
		Auto loans and leases						6,133	4	(27)	531	-	-	6,641	-
		Home equity loans						112	(3)	(18)	40	221	(70)	282	(25)
		Other asset-backed securities						3,150	10	13	181	107	(598)	2,863	(7)
			Total asset-backed securities					9,395	11	(32)	752	328	(668)	9,786	(32)
	Other debt securities							85	-	-	(85)	-	-	-	-
				Total debt securities				19,492	408	(236)	11,126	500	(801)	30,489	(90)	(3)
	Marketable equity securities:
		Perpetual preferred securities						2,434	160	(7)	(1,243)	2	(2)	1,344	(53)
		Other marketable equity securities						32	-	1	(10)	-	-	23	-
				Total marketable
					equity securities			2,466	160	(6)	(1,253)	2	(2)	1,367	(53)	(4)
					Total securities
						available for sale		21,958	568	(242)	9,873	502	(803)	31,856	(143)
Mortgages held for sale								3,305	44	-	(104)	492	(327)	3,410	43	(5)
Loans								309	13	-	(299)	-	-	23	-	(5)
Mortgage servicing rights								14,467	(5,821)	-	3,957	-	-	12,603	(3,680)	(5)
Net derivative assets and liabilities:
	Interest rate contracts							77	4,051	-	(3,414)	(1)	(104)	609	309
	Commodity contracts							(1)	2	-	(9)	(3)	11	-	1
	Equity contracts							(225)	126	-	28	(6)	2	(75)	55
	Foreign exchange contracts							9	(8)	-	(6)	1	(3)	(7)	(19)
	Credit contracts							(1,017)	(856)	-	(123)	-	(2)	(1,998)	50
	Other derivative contracts							(35)	(82)	-	-	-	-	(117)	-
		Total derivative contracts						(1,192)	3,233	-	(3,524)	(9)	(96)	(1,588)	396	(6)
Other assets								314	12	-	(82)	-	-	244	3	(2)

Short sale liabilities								-	-	-	-	-	-	-	-	(2)
Other liabilities (excluding derivatives)								(344)	(8)	-	308	-	-	(44)	-	(5)

Represents only net gains (losses) that are due to changes in economic conditions and management's estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
Included in trading activities and other noninterest income in the income statement.
Included in debt securities available for sale in the income statement.
Included in equity investments in the income statement.
Included in mortgage banking and other noninterest income in the income statement.
Included in mortgage banking, trading activities and other noninterest income in the income statement.



															Net unrealized
									Total net gains		Purchases,				gains (losses)
									(losses) included in		sales,				included in net
										Other	issuances				income related
								Balance,		compre-	and	Transfers	Transfers	Balance,	to assets and
							beginning		Net	hensive	settlements,	into	out of	end of	liabilities held
(in millions)								of year	income	income	net	Level 3	Level 3	year	at period end (1)
Year ended December 31, 2010
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	5	2	-	(11)	9	-	5	1
	Collateralized debt obligations							1,133	418	-	364	-	-	1,915	11
	Corporate debt securities							223	9	-	67	9	(142)	166	16
	Mortgage-backed securities							146	(7)	-	101	-	(123)	117	(17)
	Asset-backed securities							497	80	-	(141)	1	(71)	366	67
	Equity securities							36	1	-	(5)	2	-	34	(2)
		Total trading securities						2,040	503	-	375	21	(336)	2,603	76
Other trading assets								271	(35)	-	(19)	-	(81)	136	10
			Total trading assets
				(excluding derivatives)				2,311	468	-	356	21	(417)	2,739	86	(2)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						818	12	63	3,485	192	(6)	4,564	4
	Mortgage-backed securities:
		Residential						1,084	7	(21)	(48)	274	(1,276)	20	(8)
		Commercial						1,799	(28)	404	(10)	227	(2,175)	217	(5)
			Total mortgage-backed
				securities				2,883	(21)	383	(58)	501	(3,451)	237	(13)
	Corporate debt securities							367	7	68	(113)	259	(155)	433	-
	Collateralized debt obligations							3,725	210	96	959	-	(212)	4,778	(14)
	Asset-backed securities:
		Auto loans and leases						8,525	1	(246)	(2,403)	256	-	6,133	-
		Home equity loans						1,677	1	40	48	113	(1,767)	112	(5)
		Other asset-backed securities						2,308	51	(19)	903	1,057	(1,150)	3,150	(12)
			Total asset-backed securities					12,510	53	(225)	(1,452)	1,426	(2,917)	9,395	(17)
	Other debt securities							77	(15)	11	12	-	-	85	-
				Total debt securities				20,380	246	396	2,833	2,378	(6,741)	19,492	(40)	(3)
	Marketable equity securities:
		Perpetual preferred securities						2,305	100	(31)	6	80	(26)	2,434	-
		Other marketable equity securities						88	-	5	(21)	14	(54)	32	-
				Total marketable
					equity securities			2,393	100	(26)	(15)	94	(80)	2,466	-	(4)
					Total securities
						available for sale		22,773	346	370	2,818	2,472	(6,821)	21,958	(40)
Mortgages held for sale								3,523	43	-	(253)	380	(388)	3,305	39	(5)
Loans								-	55	-	(112)	1,035	(669)	309	55	(5)
Mortgage servicing rights								16,004	(5,511)	-	4,092	-	(118)	14,467	(2,957)	(5)
Net derivative assets and liabilities:
	Interest rate contracts							(114)	3,514	-	(3,482)	159	-	77	(266)
	Commodity contracts							-	(1)	-	-	-	-	(1)	(1)
	Equity contracts							(344)	(104)	-	169	-	54	(225)	(19)
	Foreign exchange contracts							(1)	21	-	(11)	-	-	9	-
	Credit contracts							(330)	(675)	-	(18)	6	-	(1,017)	(644)
	Other derivative contracts							(43)	4	-	4	-	-	(35)	-
		Total derivative contracts						(832)	2,759	-	(3,338)	165	54	(1,192)	(930)	(6)
Other assets								1,373	29	-	(103)	4	(989)	314	(38)	(2)
Short sale liabilities
	(corporate debt securities)							(26)	(2)	-	(37)	-	65	-	-	(2)
Other liabilities (excluding derivatives)								(10)	(55)	-	94	(1,038)	665	(344)	(58)	(5)

Represents only net gains (losses) that are due to changes in economic conditions and management's estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
Included in trading activities and other noninterest income in the income statement.
Included in debt securities available for sale in the income statement.
Included in equity investments in the income statement.
Included in mortgage banking and other noninterest income in the income statement.
Included in mortgage banking, trading activities and other noninterest income in the income statement.

(continued from previous page)


													Net unrealized
								Total net gains		Purchases,			gains (losses)
								(losses) included in		sales,	Net		included in net
									Other	issuances	transfers		income related
							Balance,		compre-	and	into and/	Balance,	to assets and
						beginning		Net	hensive	settlements,	or out of	end	liabilities held
(in millions)							of year	income	income	net	Level 3	of year	at period end (1)
Year ended December 31, 2009
Trading assets (excluding derivatives)						$	3,495	202	2	(1,749)	361	2,311	276	(2)
Securities available for sale:
	Securities of U.S. states and political subdivisions						903	23	-	25	(133)	818	(8)
	Mortgage-backed securities:
		Federal agencies					4	-	-	-	(4)	-	-
		Residential					3,510	(74)	1,092	(759)	(2,685)	1,084	(227)
		Commercial					286	(220)	894	41	798	1,799	(112)
			Total mortgage-backed securities				3,800	(294)	1,986	(718)	(1,891)	2,883	(339)
	Corporate debt securities						282	3	61	(7)	28	367	-
	Collateralized debt obligations						2,083	125	577	623	317	3,725	(84)
	Other						12,799	136	1,368	584	(2,300)	12,587	(94)
				Total debt securities			19,867	(7)	3,992	507	(3,979)	20,380	(525)	(3)
	Marketable equity securities:
		Perpetual preferred securities					2,775	104	144	(723)	5	2,305	(1)
		Other marketable equity securities					50	-	(2)	63	(23)	88	-
				Total marketable equity securities			2,825	104	142	(660)	(18)	2,393	(1)	(4)
					Total securities available for sale	$	22,692	97	4,134	(153)	(3,997)	22,773	(526)
Mortgages held for sale						$	4,718	(96)	-	(921)	(178)	3,523	(109)	(5)
Mortgage servicing rights							14,714	(4,970)	-	6,260	-	16,004	(1,534)	(5)
Net derivative assets and liabilities							37	1,439	-	(2,291)	(17)	(832)	(799)	(6)
Other assets (excluding derivatives)							1,231	10	-	132	-	1,373	12	(2)
Liabilities (excluding derivatives)							(16)	(11)	-	1	(10)	(36)	14	(5)

Represents only net gains (losses) that are due to changes in economic conditions and management's estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
Included in trading activities and other noninterest income in the income statement.
Included in debt securities available for sale in the income statement.
Included in equity investments in the income statement.
Included in mortgage banking and other noninterest income in the income statement.
Included in mortgage banking, trading activities and other noninterest income in the income statement.

Fair Value, Assets Measured on Recurring Basis, Level 3 Reconciliation Detail




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Year ended December 31, 2011
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	313	(199)	-	(102)	12
	Collateralized debt obligations							1,054	(1,310)	-	(41)	(297)
	Corporate debt securities							80	(150)	-	-	(70)
	Mortgage-backed securities							759	(790)	-	(5)	(36)
	Asset-backed securities							516	(585)	-	(53)	(122)
	Equity securities							6	(22)	-	(12)	(28)
		Total trading securities						2,728	(3,056)	-	(213)	(541)
Other trading assets								-	-	2	-	2
			Total trading assets
				(excluding derivatives)				2,728	(3,056)	2	(213)	(539)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						4,280	(4)	4,723	(2,076)	6,923
	Mortgage-backed securities:
		Residential						3	-	-	(9)	(6)
		Commercial						21	-	-	(19)	2
			Total mortgage-backed
				securities				24	-	-	(28)	(4)
	Corporate debt securities							94	(208)	1	(72)	(185)
	Collateralized debt obligations							4,805	(36)	-	(1,044)	3,725
	Asset-backed securities:
		Auto loans and leases						5,918	-	333	(5,720)	531
		Home equity loans						44	-	-	(4)	40
		Other asset-backed securities						1,428	(456)	1,395	(2,186)	181
			Total asset-backed securities					7,390	(456)	1,728	(7,910)	752
	Other debt securities							-	(85)	-	-	(85)
				Total debt securities				16,593	(789)	6,452	(11,130)	11,126
	Marketable equity securities:
		Perpetual preferred securities						1	(13)	-	(1,231)	(1,243)
		Other marketable equity securities						3	(12)	-	(1)	(10)
				Total marketable
					equity securities			4	(25)	-	(1,232)	(1,253)
					Total securities
						available for sale		16,597	(814)	6,452	(12,362)	9,873
Mortgages held for sale								576	(21)	-	(659)	(104)
Loans								23	(309)	-	(13)	(299)
Mortgage servicing rights								-	-	4,011	(54)	3,957
Net derivative assets and liabilities:
	Interest rate contracts							6	(1)	-	(3,419)	(3,414)
	Commodity contracts							7	(17)	-	1	(9)
	Equity contracts							123	(255)	-	160	28
	Foreign exchange contracts							4	(4)	-	(6)	(6)
	Credit contracts							6	(3)	-	(126)	(123)
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						146	(280)	-	(3,390)	(3,524)
Other assets								10	(1)	-	(91)	(82)
Short sale liabilities								(125)	124	-	1	-
Other liabilities (excluding derivatives)								(10)	1	-	317	308

Fair Value, Assets Recorded at Fair Value on a Nonrecurring Basis



				Carrying value at year end
(in millions)				Level 1	Level 2	Level 3	Total
December 31, 2011
Mortgages held for sale (1)			$	-	1,019	1,166	2,185
Loans held for sale				-	86	-	86
Loans:
	Commercial			-	1,501	13	1,514
	Consumer			-	4,163	4	4,167
		Total loans (2)		-	5,664	17	5,681
Mortgage servicing rights (amortized)				-	-	293	293
Other assets (3)				-	537	67	604

December 31, 2010
Mortgages held for sale (1)			$	-	2,000	891	2,891
Loans held for sale				-	352	-	352
Loans:
	Commercial			-	2,480	67	2,547
	Consumer			-	5,870	18	5,888
		Total loans (2)		-	8,350	85	8,435
Mortgage servicing rights (amortized)				-	-	104	104
Other assets (3)				-	765	82	847

Predominantly real estate 1-4 family first mortgage loans measured at LOCOM.
Represents carrying value of loans for which adjustments are based on the appraised value of the collateral.
Includes the fair value of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets.

Changes in Fair Value of Assets Recorded at Fair Value on Nonrecurring Basis



(in millions)
Year ended December 31, 2011
Mortgages held for sale				$	29
Loans held for sale					22
Loans:
	Commercial				(1,043)
	Consumer				(4,905)
		Total loans (1)			(5,948)
Mortgage servicing rights (amortized)					(34)
Other assets (2)					(256)
			Total	$	(6,187)

Year ended December 31, 2010
Mortgages held for sale				$	(20)
Loans held for sale					(1)
Loans:
	Commercial				(1,306)
	Consumer				(6,881)
		Total loans (1)			(8,187)
Mortgage servicing rights (amortized)					(3)
Other assets (2)					(301)
			Total	$	(8,512)

Represents write-downs of loans based on the appraised value of the collateral.
Includes the losses on foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets.

Fair Value Investments in Entites that Calculate Net Asset Value Per Share



						Redemption
			Fair	Unfunded	Redemption	notice
(in millions)			value	commitments	frequency	period
December 31, 2011
Offshore funds		$	352	-	Daily - Annually	1 - 180 days
Funds of funds			1	-	Quarterly	90 days
Hedge funds			22	-	Daily - Annually	5 - 95 days
Private equity funds			976	240	N/A	N/A
Venture capital funds			83	28	N/A	N/A
	Total	$	1,434	268
December 31, 2010
Offshore funds		$	1,665	-	Daily - Annually	1 - 180 days
Funds of funds			63	-	Monthly - Quarterly	10 - 90 days
Hedge funds			23	-	Monthly - Annually	30 - 120 days
Private equity funds			1,830	669	N/A	N/A
Venture capital funds			88	36	N/A	N/A
	Total	$	3,669	705

N/A - Not applicable

Fair Value Option, Carrying Amount



			December 31, 2011				December 31, 2010
					Fair value				Fair value
					carrying				carrying
					amount				amount
					less				less
		Fair value		Aggregate	aggregate		Fair value	Aggregate	aggregate
			carrying	unpaid	unpaid		carrying	unpaid	unpaid
(in millions)			amount	principal	principal		amount	principal	principal
Mortgages held for sale:
	Total loans	$	44,791	43,687	1,104	(1)	47,531	47,818	(287)	(1)
	Nonaccrual loans		265	584	(319)		325	662	(337)
	Loans 90 days or more past due and still accruing		44	56	(12)		38	47	(9)
Loans held for sale:
	Total loans		1,176	1,216	(40)		873	897	(24)
	Nonaccrual loans		25	39	(14)		1	7	(6)
Loans:
	Total loans		5,916	5,441	475		309	348	(39)
	Nonaccrual loans		32	32	-		13	16	(3)
	Loans 90 days or more past due and still accruing		-	-	-		2	2	-
Long-term debt			-	-	-		306	353	(47)

The difference between fair value carrying amount and aggregate unpaid principal includes changes in fair value recorded at and subsequent to funding, gains and losses on the related loan commitment prior to funding, and premiums on acquired loans.

Fair Value Option, Gains and Losses



	2011				2010			2009
			Net gains			Net gains			Net gains
	Mortgage		(losses)		Mortgage	(losses)		Mortgage	(losses)
	banking		from	Other	banking	from	Other	banking	from	Other
	noninterest		trading	noninterest	noninterest	trading	noninterest	noninterest	trading	noninterest
(in millions)		income	activities	income	income	activities	income	income	activities	income
Year ended December 31,
Mortgages held for sale	$	6,084	-	-	6,512	-	-	4,891	-	-
Loans held for sale		-	-	32	-	-	24	-	-	99
Loans		13	-	80	55	-	-	-	-	-
Long-term debt		(11)	-	-	(48)	-	-	-	-	-
Other interests held		-	(25)	-	-	(13)	-	-	117	-

Fair Value Option, Instrument Specific Credit Risk



			Year ended Dec. 31,
(in millions)				2011	2010	2009
Gains (losses) attributable to
	instrument-specific credit risk:
	Mortgages held for sale		$	(144)	(28)	(277)
	Loans held for sale			32	24	63
		Total	$	(112)	(4)	(214)

Fair Value, Estimated for Financial Instruments Not Carried at Fair Value



		December 31,
			2011		2010
			Carrying	Estimated	Carrying	Estimated
(in millions)			amount	fair value	amount	fair value
Financial assets
	Mortgages held for sale (1)	$	3,566	3,566	4,232	4,234
	Loans held for sale (2)		162	176	417	441
	Loans, net (3)		731,308	723,867	721,016	710,147
	Nonmarketable equity investments (cost method)		8,061	8,490	8,494	8,814
Financial liabilities
	Deposits		920,070	921,803	847,942	849,642
	Long-term debt (4)		125,238	126,484	156,651	159,996	(3)

Balance excludes MHFS for which the fair value option was elected.
Balance excludes LHFS for which the fair value option was elected.
Loans exclude balances for which the fair value option was elected. At December 31, 2010, long-term debt excludes balances for which the fair value option was elected. Loans exclude lease financing with a carrying amount of $13.1 billion at both December 31, 2011 and 2010, respectively.
The carrying amount and fair value exclude obligations under capital leases of $116 million and $26 million at December 31, 2011 and 2010, respectively.