Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Tax Expense (Benefit) (Tables) [Abstract]



					Year ended December 31,
(in millions)					2011	2010	2009
Current:
	Federal			$	3,352	1,425	(3,952)
	State and local				468	548	(334)
	Foreign				52	78	164
		Total current			3,872	2,051	(4,122)
Deferred:
	Federal				3,088	4,060	8,709
	State and local				471	211	794
	Foreign				14	16	(50)
		Total deferred			3,573	4,287	9,453
			Total	$	7,445	6,338	5,331

Schedule of net deferred tax asset (liability)



						December 31,
(in millions)							2011	2010
Deferred tax assets
	Allowance for loan losses					$	6,955	8,157
	Deferred compensation
		and employee benefits					4,115	3,473
	Accrued expenses						1,598	1,989
	PCI loans						3,851	4,933
	Basis difference in investments						2,104	2,598
	Net operating loss and tax
		credit carry forwards					1,701	1,514
	Other						402	1,891
			Total deferred tax assets				20,726	24,555
Deferred tax assets valuation allowance							(918)	(711)

Deferred tax liabilities
	Mortgage servicing rights						(7,388)	(8,020)
	Leasing						(4,344)	(3,703)
	Mark to market, net						(4,027)	(5,161)
	Intangible assets						(2,608)	(3,322)
	Net unrealized gains on
		securities available for sale					(2,619)	(3,243)
	Other						(3,736)	(2,875)
			Total deferred tax liabilities				(24,722)	(26,324)
				Net deferred tax
					asset (liability)	$	(4,914)	(2,480)

Effective income tax expense and rate



				December 31,
				2011				2010				2009
(in millions)				Amount	Rate			Amount	Rate			Amount	Rate
Statutory federal income tax expense and rate			$	8,160	35.0	%	$	6,545	35.0	%	$	6,162	35.0	%
Change in tax rate resulting from:
	State and local taxes on income, net of
		federal income tax benefit		730	3.1			586	3.1			468	2.7
	Tax-exempt interest			(334)	(1.4)			(283)	(1.5)			(260)	(1.5)
	Excludable dividends			(247)	(1.1)			(258)	(1.3)			(253)	(1.4)
	Tax credits			(735)	(3.2)			(577)	(3.1)			(533)	(3.0)
	Life insurance			(222)	(1.0)			(223)	(1.2)			(257)	(1.5)
	Leveraged lease tax expense			272	1.2			461	2.5			400	2.3
	Other (1)			(179)	(0.7)			87	0.4			(396)	(2.3)
		Effective income tax expense and rate	$	7,445	31.9	%	$	6,338	33.9	%	$	5,331	30.3	%

(1) Includes other deductible dividends of $(57) million for 2011, $(33) million for 2010, and $(29) million for 2009.

Change in unrecognized tax benefits



				Year ended
				December 31,
(in millions)				2011	2010
Balance at beginning of year			$	5,500	4,921
Additions:
	For tax positions related to the current year			279	579
	For tax positions related to prior years			255	301
Reductions:
	For tax positions related to prior years			(358)	(111)
	Lapse of statute of limitations			(75)	(148)
	Settlements with tax authorities			(596)	(42)
		Balance at end of year	$	5,005	5,500

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References+ Details