Fair Values of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2012

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

March 31, 2012
Trading assets (excluding derivatives)				$	-	285	7	1,209	1,345	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	1,080	3,598	-
	Securities of U.S. states and political subdivisions				-	17	-	-	21,631	997
	Mortgage-backed securities				-	369	45	-	126,554	187
	Other debt securities				-	347	8,469	-	27,202	380
		Total debt securities			-	733	8,514	1,080	178,985	1,564
		Total marketable equity securities			-	-	-	37	631	-
			Total securities available for sale		-	733	8,514	1,117	179,616	1,564
Derivatives (trading and other assets)					-	12	46	-	709	1
Loans held for sale					-	-	-	-	1	-
Derivatives (liabilities)					-	10	27	-	681	-
Other liabilities					-	22	-	-	208	2


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	-

Assets and Liabilities Recorded at Fair Value on a Recurring Basis



(in millions)							Level 1	Level 2	Level 3	Netting		Total
March 31, 2012
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	5,208	3,598	-	-		8,806
	Securities of U.S. states and political subdivisions						-	4,063	103	-		4,166
	Collateralized debt obligations (1)						-	-	1,539	-		1,539
	Corporate debt securities						-	7,532	132	-		7,664
	Mortgage-backed securities						-	27,879	54	-		27,933
	Asset-backed securities						-	856	164	-		1,020
	Equity securities						2,951	323	3	-		3,277
		Total trading securities					8,159	44,251	1,995	-		54,405
	Other trading assets						2,052	43	108	-		2,203
			Total trading assets (excluding derivatives)				10,211	44,294	2,103	-		56,608
Securities of U.S. Treasury and federal agencies							1,081	3,597	-	-		4,678
Securities of U.S. states and political subdivisions							-	21,723	12,514	-		34,237
Mortgage-backed securities:
	Federal agencies						-	102,665	-	-		102,665
	Residential						-	17,771	58	-		17,829
	Commercial						-	18,425	232	-		18,657
		Total mortgage-backed securities					-	138,861	290	-		139,151
Corporate debt securities							297	19,568	308	-		20,173
Collateralized debt obligations (2)							-	-	9,163	-		9,163
Asset-backed securities:
	Auto loans and leases						-	62	6,913	-		6,975
	Home equity loans						-	698	257	-		955
	Other asset-backed securities						-	7,937	2,869	-		10,806
		Total asset-backed securities					-	8,697	10,039	-		18,736
Other debt securities							-	975	-	-		975
			Total debt securities				1,378	193,421	32,314	-		227,113
Marketable equity securities:
	Perpetual preferred securities (3)						607	625	1,173	-		2,405
	Other marketable equity securities						693	52	3	-		748
			Total marketable equity securities				1,300	677	1,176	-		3,153
				Total securities available for sale			2,678	194,098	33,490	-		230,266
Mortgages held for sale							-	35,853	3,330	-		39,183
Loans held for sale							-	796	-	-		796
Loans							-	6,012	25	-		6,037
Mortgage servicing rights (residential)							-	-	13,578	-		13,578
Derivative assets:
	Interest rate contracts						-	80,738	806	-		81,544
	Commodity contracts						-	4,712	16	-		4,728
	Equity contracts						624	2,721	736	-		4,081
	Foreign exchange contracts						32	4,799	24	-		4,855
	Credit contracts						-	1,697	1,213	-		2,910
	Other derivative contracts						-	-	1	-		1
		Netting					-	-	-	(73,643)	(4)	(73,643)
			Total derivative assets (5)				656	94,667	2,796	(73,643)		24,476
Other assets							94	141	228	-		463
					Total assets recorded at fair value	$	13,639	375,861	55,550	(73,643)		371,407
Derivative liabilities:
	Interest rate contracts					$	(3)	(78,255)	(471)	-		(78,729)
	Commodity contracts						-	(4,557)	(30)	-		(4,587)
	Equity contracts						(267)	(2,964)	(916)	-		(4,147)
	Foreign exchange contracts						(28)	(2,962)	(8)	-		(2,998)
	Credit contracts						-	(1,606)	(2,966)	-		(4,572)
	Other derivative contracts						-	-	(67)	-		(67)
		Netting					-	-	-	81,198	(4)	81,198
			Total derivative liabilities (6)				(298)	(90,344)	(4,458)	81,198		(13,902)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(3,958)	(772)	-	-		(4,730)
	Securities of U.S. states and political subdivisions						-	(16)	-	-		(16)
	Corporate debt securities						-	(4,445)	-	-		(4,445)
	Equity securities						(1,173)	(99)	-	-		(1,272)
	Other securities						-	(58)	-	-		(58)
		Total short sale liabilities					(5,131)	(5,390)	-	-		(10,521)
Other liabilities							-	(40)	(42)	-		(82)
					Total liabilities recorded at fair value	$	(5,429)	(95,774)	(4,500)	81,198		(24,505)

Includes collateralized loan obligations of $587 million that are classified as trading assets.
Includes collateralized loan obligations of $8.6 billion that are classified as securities available for sale.
Perpetual preferred securities are primarily ARS and corporate preferred securities. See Note 7 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 on following page)

(continued from previous page)



(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 are primarily ARS and corporate preferred securities. See Note 7 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, Transfers Between Fair Value Levels


			Transfers Between Fair Value Levels
			Level 1		Level 2		Level 3 (1)
(in millions)			In	Out	In	Out	In	Out	Total
Quarter ended March 31, 2012
Trading securities		$	-	-	10	(14)	14	(10)	-
Securities available for sale			-	-	93	(43)	43	(93)	-
Mortgages held for sale			-	-	86	(87)	87	(86)	-
Net derivative assets and liabilities			-	-	12	8	(8)	(12)	-
	Total transfers	$	-	-	201	(136)	136	(201)	-

All transfers in and out of Level 3 are disclosed within the recurring level 3 rollforward table in this Note.

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 period	income	income	net (1)	Level 3	Level 3	period	at period end (2)
Quarter ended March 31, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	53	-	-	50	-	-	103	-
	Collateralized debt obligations							1,582	17	-	(60)	-	-	1,539	(12)
	Corporate debt securities							97	-	-	35	-	-	132	(2)
	Mortgage-backed securities							108	(1)	-	(43)	-	(10)	54	(3)
	Asset-backed securities							190	11	-	(51)	14	-	164	4
	Equity securities							4	-	-	(1)	-	-	3	-
		Total trading securities						2,034	27	-	(70)	14	(10)	1,995	(13)
Other trading assets								115	(7)	-	-	-	-	108	-
			Total trading assets
				(excluding derivatives)				2,149	20	-	(70)	14	(10)	2,103	(13)	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						11,516	(4)	164	838	-	-	12,514	(6)
	Mortgage-backed securities:
		Residential						61	-	1	(1)	27	(30)	58	-
		Commercial						232	(15)	22	(7)	-	-	232	-
			Total mortgage-backed
				securities				293	(15)	23	(8)	27	(30)	290	-
	Corporate debt securities							295	5	11	(4)	1	-	308	-
	Collateralized debt obligations							8,599	57	183	324	-	-	9,163	-
	Asset-backed securities:
		Auto loans and leases						6,641	1	20	251	-	-	6,913	-
		Home equity loans						282	7	18	(1)	14	(63)	257	-
		Other asset-backed securities						2,863	3	57	(55)	1	-	2,869	-
			Total asset-backed securities					9,786	11	95	195	15	(63)	10,039	-
				Total debt securities				30,489	54	476	1,345	43	(93)	32,314	(6)	(4)
	Marketable equity securities:
		Perpetual preferred securities						1,344	31	8	(210)	-	-	1,173	-
		Other marketable equity securities						23	-	(15)	(5)	-	-	3	-
				Total marketable
					equity securities			1,367	31	(7)	(215)	-	-	1,176	-	(5)
					Total securities
						available for sale		31,856	85	469	1,130	43	(93)	33,490	(6)
Mortgages held for sale								3,410	(35)	-	(46)	87	(86)	3,330	(36)	(6)
Loans								23	-	-	2	-	-	25	-	(6)
Mortgage servicing rights								12,603	(801)	-	1,776	-	-	13,578	(158)	(6)
Net derivative assets and liabilities:
	Interest rate contracts							609	1,158	-	(1,432)	-	-	335	199
	Commodity contracts							-	1	-	(7)	(8)	-	(14)	(7)
	Equity contracts							(75)	(95)	-	3	-	(13)	(180)	(88)
	Foreign exchange contracts							(7)	27	-	(5)	-	1	16	24
	Credit contracts							(1,998)	171	-	74	-	-	(1,753)	233
	Other derivative contracts							(117)	51	-	-	-	-	(66)	-
		Total derivative contracts						(1,588)	1,313	-	(1,367)	(8)	(12)	(1,662)	361	(7)
Other assets								244	(3)	-	(13)	-	-	228	(11)	(3)
Other liabilities (excluding derivatives)								(44)	1	-	1	-	-	(42)	-	(6)

See next page for detail.

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 period	income	income	net (1)	Level 3	Level 3	period	at period end (2)
Quarter ended March 31, 2011
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	5	2	-	85	38	-	130	1
	Collateralized debt obligations							1,915	13	-	(17)	-	(1)	1,910	(10)
	Corporate debt securities							166	(2)	-	(67)	-	-	97	-
	Mortgage-backed securities							117	5	-	18	4	-	144	(3)
	Asset-backed securities							366	9	-	(13)	-	(110)	252	9
	Equity securities							34	(1)	-	(2)	1	-	32	(2)
		Total trading securities						2,603	26	-	4	43	(111)	2,565	(5)
Other trading assets								136	6	-	2	-	-	144	17
			Total trading assets
				(excluding derivatives)				2,739	32	-	6	43	(111)	2,709	12	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						4,564	2	69	395	-	-	5,030	3
	Mortgage-backed securities:
		Residential						20	-	(1)	2	6	(17)	10	(1)
		Commercial						217	(8)	70	2	-	-	281	(4)
			Total mortgage-backed
				securities				237	(8)	69	4	6	(17)	291	(5)
	Corporate debt securities							433	2	9	49	1	-	494	-
	Collateralized debt obligations							4,778	53	153	632	-	-	5,616	-
	Asset-backed securities:
		Auto loans and leases						6,133	1	(39)	(1,851)	-	-	4,244	-
		Home equity loans						112	2	1	(1)	10	(26)	98	(1)
		Other asset-backed securities						3,150	(5)	55	162	49	-	3,411	-
			Total asset-backed securities					9,395	(2)	17	(1,690)	59	(26)	7,753	(1)
	Other debt securities							85	-	-	(85)	-	-	-	-
				Total debt securities				19,492	47	317	(695)	66	(43)	19,184	(3)	(4)
	Marketable equity securities:
		Perpetual preferred securities						2,434	68	6	(519)	-	-	1,989	-
		Other marketable equity securities						32	-	-	3	-	-	35	-
				Total marketable
					equity securities			2,466	68	6	(516)	-	-	2,024	-	(5)
					Total securities
						available for sale		21,958	115	323	(1,211)	66	(43)	21,208	(3)
Mortgages held for sale								3,305	(32)	-	42	72	(73)	3,314	(32)	(6)
Loans								309	10	-	(221)	-	-	98	10	(6)
Mortgage servicing rights								14,467	(81)	-	1,262	-	-	15,648	499	(6)
Net derivative assets and liabilities:
	Interest rate contracts							77	406	-	(185)	1	-	299	(9)
	Commodity contracts							(1)	-	-	1	(3)	-	(3)	-
	Equity contracts							(225)	-	-	6	-	(6)	(225)	29
	Foreign exchange contracts							9	21	-	(7)	-	-	23	11
	Credit contracts							(1,017)	(86)	-	(48)	-	-	(1,151)	(133)
	Other derivative contracts							(35)	17	-	-	-	-	(18)	-
		Total derivative contracts						(1,192)	358	-	(233)	(2)	(6)	(1,075)	(102)	(7)
Other assets								314	2	-	(5)	-	-	311	4	(3)
Short sale liabilities
	(corporate debt securities)							-	1	-	(107)	-	-	(106)	-	(3)
Other liabilities (excluding derivatives) (7)								(344)	(9)	-	217	-	-	(136)	(10)	(6)

See next page for detail.

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 and Liabilities Measured on Recurring Basis, Level 3 Reconciliation Detail




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Quarter ended March 31, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	59	(9)	-	-	50
	Collateralized debt obligations							190	(250)	-	-	(60)
	Corporate debt securities							81	(46)	-	-	35
	Mortgage-backed securities							3	(46)	-	-	(43)
	Asset-backed securities							72	(111)	-	(12)	(51)
	Equity securities							-	(1)	-	-	(1)
		Total trading securities						405	(463)	-	(12)	(70)
Other trading assets								-	-	-	-	-
			Total trading assets
				(excluding derivatives)				405	(463)	-	(12)	(70)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						582	-	588	(332)	838
	Mortgage-backed securities:
		Residential						-	-	-	(1)	(1)
		Commercial						-	-	-	(7)	(7)
			Total mortgage-backed
				securities				-	-	-	(8)	(8)
	Corporate debt securities							-	-	-	(4)	(4)
	Collateralized debt obligations							550	-	-	(226)	324
	Asset-backed securities:
		Auto loans and leases						1,835	-	163	(1,747)	251
		Home equity loans						-	-	-	(1)	(1)
		Other asset-backed securities						399	(26)	335	(763)	(55)
			Total asset-backed securities					2,234	(26)	498	(2,511)	195
				Total debt securities				3,366	(26)	1,086	(3,081)	1,345
	Marketable equity securities:
		Perpetual preferred securities						-	-	-	(210)	(210)
		Other marketable equity securities						-	(4)	-	(1)	(5)
				Total marketable
					equity securities			-	(4)	-	(211)	(215)
					Total securities
						available for sale		3,366	(30)	1,086	(3,292)	1,130
Mortgages held for sale								111	-	-	(157)	(46)
Loans								2	-	-	-	2
Mortgage servicing rights								-	-	1,776	-	1,776
Net derivative assets and liabilities:
	Interest rate contracts							-	(1)	-	(1,431)	(1,432)
	Commodity contracts							5	(7)	-	(5)	(7)
	Equity contracts							115	(165)	-	53	3
	Foreign exchange contracts							-	-	-	(5)	(5)
	Credit contracts							1	(1)	-	74	74
		Total derivative contracts						121	(174)	-	(1,314)	(1,367)
Other assets								3	-	-	(16)	(13)
Other liabilities (excluding derivatives)								(1)	2	-	-	1




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Quarter ended March 31, 2011
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	97	(12)	-	-	85
	Collateralized debt obligations							365	(366)	-	(16)	(17)
	Corporate debt securities							13	(80)	-	-	(67)
	Mortgage-backed securities							345	(327)	-	-	18
	Asset-backed securities							245	(243)	-	(15)	(13)
	Equity securities							5	(7)	-	-	(2)
		Total trading securities						1,070	(1,035)	-	(31)	4
Other trading assets								2	-	-	-	2
			Total trading assets
				(excluding derivatives)				1,072	(1,035)	-	(31)	6
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						557	6	-	(168)	395
	Mortgage-backed securities:
		Residential						4	-	-	(2)	2
		Commercial						4	-	-	(2)	2
			Total mortgage-backed
				securities				8	-	-	(4)	4
	Corporate debt securities							95	-	-	(46)	49
	Collateralized debt obligations							865	(20)	-	(213)	632
	Asset-backed securities:
		Auto loans and leases						366	-	-	(2,217)	(1,851)
		Home equity loans						-	-	-	(1)	(1)
		Other asset-backed securities						797	(17)	-	(618)	162
			Total asset-backed securities					1,163	(17)	-	(2,836)	(1,690)
	Other debt securities							-	(85)	-	-	(85)
				Total debt securities				2,688	(116)	-	(3,267)	(695)
	Marketable equity securities:
		Perpetual preferred securities						1	-	-	(520)	(519)
		Other marketable equity securities						3	-	-	-	3
				Total marketable
					equity securities			4	-	-	(520)	(516)
					Total securities
						available for sale		2,692	(116)	-	(3,787)	(1,211)
Mortgages held for sale								219	-	-	(177)	42
Loans								-	(210)	-	(11)	(221)
Mortgage servicing rights								-	-	1,262	-	1,262
Net derivative assets and liabilities:
	Interest rate contracts							-	1	-	(186)	(185)
	Commodity contracts							-	-	-	1	1
	Equity contracts							49	(124)	-	81	6
	Foreign exchange contracts							2	(2)	-	(7)	(7)
	Credit contracts							1	(1)	-	(48)	(48)
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						52	(126)	-	(159)	(233)
Other assets								-	(1)	-	(4)	(5)
Short sale liabilities
	(corporate debt securities)							(114)	7	-	-	(107)
Other liabilities (excluding derivatives)								-	-	-	217	217

Fair Value, Assets and Liabilities Measured on Recurring Basis, Quantative Information about Valuation Techniques and Unobservable Inputs


				Fair Value				Significant	Range of				Weighted
($ in millions, except cost to service amounts)				Level 3			Valuation Technique(s)	Unobservable Input	Inputs				Average (1)
March 31, 2012
Trading and available for sale securities:
	Securities of U.S. states and
	political subdivisions:
		Government, healthcare and
		other revenue bonds		$	10,945		Discounted cash flow	Discount rate	0.4	-	4.2	%	1.3
					997		Vendor priced
		Auction rate securities			675		Discounted cash flow	Discount rate	3.3	-	14.3		5.3
								Weighted average life	3.0	-	14.6	yrs	3.9
	Collateralized debt obligations (2)				2,198		Market comparable pricing	Comparability adjustment	(25.0)	-	22.0	%	(0.4)
					8,504		Vendor priced
	Asset-backed securities:
		Auto loans and leases			6,913		Discounted cash flow	Default rate	1.2	-	10.5		3.8
								Discount rate	0.5	-	2.1		1.3
								Loss severity	50.0	-	66.7		53.5
								Prepayment rate	0.4	-	1.3		0.7
		Other asset-backed securities:
			Dealer floor plan		589		Discounted cash flow	Discount rate	1.1	-	1.3		1.2
			Other commercial and consumer		2,115	(3)	Discounted cash flow	Discount rate	0.8	-	20.0		4.3
								Weighted average life	0.4	-	9.8	yrs	3.7
					329		Vendor priced
	Marketable equity securities: perpetual
	preferred				1,173	(4)	Discounted cash flow	Discount rate	5.4	-	8.3	%	6.3
								Weighted average life	1.0	-	10.0	yrs	4.5
Mortgages held for sale (residential)					3,330		Discounted cash flow	Default rate	2.2	-	19.7	%	10.8
								Discount rate	3.8	-	7.3		5.5
								Loss severity	1.0	-	40.3		29.3
								Prepayment rate	1.0	-	15.6		6.8
Mortgage servicing rights (residential)					13,578		Discounted cash flow	Cost to service per loan (5)	$ 82	-	926		210
								Discount rate	6.7	-	10.8	%	7.5
								Prepayment rate (6)	7.1	-	23.1		14.5
Net derivative assets and (liabilities):
	Interest rate contracts				119		Discounted cash flow	Default rate	0.0	-	14.3		4.9
								Loss severity	32.3	-	89.4		52.3
								Prepayment rate	7.3	-	22.9		15.3
	Interest rate contracts: derivative loan
	commitments				216		Discounted cash flow	Fall-out factor	1.0	-	99.0		22.4
								Initial Value-Servicing	(3.7)	-	114.4	bps	68.7
	Equity contracts				(180)		Option model	Correlation factor	40.3	-	84.3	%	67.7
								Volatility factor	12.0	-	55.0		28.4
	Credit contracts				(1,783)		Market comparable pricing	Comparability adjustment	(38.9)	-	39.3		0.1
					10		Option model	Credit spread	0.0	-	15.3		2.6
								Loss severity	10.0	-	60.0		41.4
					20		Vendor priced
Insignificant Level 3 assets,
net of liabilities					1,302	(7)
		Total level 3 assets, net of liabilities		$	51,050	(8)

Weighted averages are calculated using outstanding unpaid principal balance for cash instruments such as loans and securities, and notional amounts for derivative instruments.
Includes $9.2 billion of collateralized loan obligations.
Consists primarily of investments in asset-backed securities that are revolving in nature, in which the timing of advances and repayments of principal are uncertain.
Consists of auction rate preferred equity securities with no maturity date that are callable by the issuer.
The high end of the range of inputs is for servicing modified loans. For non modified loans the range is $82 - $469.
Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior.
Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes corporate debt securities, mortgage-backed securities, asset-backed securities backed by home equity loans, other marketable equity securities, loans, other assets, other liabilities and certain net derivative assets and liabilities, such as commodity contracts, foreign exchange contracts and other derivative contracts.
Consists of total Level 3 assets of $55.6 billion and total Level 3 liabilities of $4.5 billion, before netting of derivative balances.

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



				March 31, 2012				December 31, 2011
(in millions)				Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Mortgages held for sale (LOCOM) (1)			$	-	1,315	1,194	2,509	-	1,019	1,166	2,185
Loans held for sale				-	49	-	49	-	86	-	86
Loans:
	Commercial			-	647	-	647	-	1,501	13	1,514
	Consumer			-	1,924	1	1,925	-	4,163	4	4,167
		Total loans (2)		-	2,571	1	2,572	-	5,664	17	5,681
Mortgage servicing rights (amortized)				-	-	-	-	-	-	293	293
Other assets (3)				-	528	20	548	-	537	67	604

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



				Quarter ended March 31,
(in millions)					2012	2011
Mortgages held for sale (LOCOM)				$	48	(26)
Loans held for sale					(1)	2
Loans:
	Commercial				(301)	(240)
	Consumer				(1,203)	(1,752)
		Total loans (1)			(1,504)	(1,992)
Mortgage servicing rights (amortized)					-	(6)
Other assets (2)					(140)	(116)
			Total	$	(1,597)	(2,138)

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, Assets and Liabilities Measured on Nonrecurring Basis, Quantative Information about Valuation Techniques and Unobservable Inputs



			Fair value			Significant		Range				Weighted
($ in millions)			Level 3		Valuation technique(s) (1)	unobservable input (1)		of inputs				average (2)
March 31, 2012
Residential mortgages held for sale
	(LOCOM)	$	1,163	(3)	Discounted cash flow	Default rate	(4)	8.5	-	46.6	%	24.0	%
						Discount rate		4.5	-	12.8		10.8
						Loss severity		2.6	-	37.5		6.2
						Prepayment rate	(5)	1.0	-	100.0		68.9
Insignificant level 3 assets			52
	Total	$	1,215

Refer to the narrative following the recurring quantitative Level 3 table of this Note for a definition of the valuation technique(s) and significant unobservable inputs.
Weighted averages are calculated using outstanding unpaid principal balance of the loans.
Consists of approximately $1.1 billion government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitization and $112 million of other mortgage loans which are not government insured/guaranteed.
Applies only to non-government insured/guaranteed loans.
Includes the impact on prepayment rate of expected defaults for the government insured/guaranteed loans, which impacts the frequency and timing of early resolution of loans.

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



						Redemption
			Fair	Unfunded	Redemption	notice
(in millions)			value	commitments	frequency	period
March 31, 2012
Offshore funds		$	329	-	Daily - Annually	1 - 180 days
Funds of funds			1	-	Quarterly	90 days
Hedge funds			21	-	Daily - Annually	5 - 95 days
Private equity funds			914	232	N/A	N/A
Venture capital funds			84	25	N/A	N/A
	Total	$	1,349	257
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

N/A - Not applicable

Fair Value Option, Carrying Amount



			March 31, 2012				December 31, 2011
					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	$	39,183	38,664	519	(1)	44,791	43,687	1,104	(1)
	Nonaccrual loans		253	587	(334)		265	584	(319)
	Loans 90 days or more past due and still accruing		41	49	(8)		44	56	(12)
Loans held for sale:
	Total loans		796	838	(42)		1,176	1,216	(40)
	Nonaccrual loans		9	24	(15)		25	39	(14)
Loans:
	Total loans		6,037	5,520	517		5,916	5,441	475
	Nonaccrual loans		53	50	3		32	32	-

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



	2012				2011
			Net gains			Net gains
	Mortgage		(losses)		Mortgage	(losses)
	banking		from	Other	banking	from	Other
	noninterest		trading	noninterest	noninterest	trading	noninterest
(in millions)		income	activities	income	income	activities	income
Quarter ended March 31,
Mortgages held for sale	$	1,795	-	1	658	-	0
Loans held for sale		-	-	13	-	-	9
Loans		-	-	42	10	-	-
Long-term debt		-	-	-	(10)	-	-
Other interests held		-	(9)	23	-	-	10

Fair Value Option, Instrument Specific Credit Risk



			Quarter ended March 31,
(in millions)				2012	2011
Gains (losses) attributable to
	instrument-specific credit risk:
	Mortgages held for sale		$	(39)	(59)
	Loans held for sale			13	9
		Total	$	(26)	(50)

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



				March 31, 2012					December 31, 2011
					Estimated fair value
(in millions)				Carrying amount	Level 1	Level 2	Level 3	Total	Carrying amount	Estimated fair value
Financial assets
	Cash and due from banks (1)		$	17,000	17,000	-	-	17,000	19,440	19,440
	Federal funds sold, securities purchased
		under resale agreements and
		other short-term investments (1)		74,143	-	74,143	-	74,143	44,367	44,367
	Mortgages held for sale (2)			4,266	-	1,044	3,268	4,312	3,566	3,566
	Loans held for sale (2)			162	-	157	10	167	162	176
	Loans, net (3)			728,575	-	54,386	672,005	726,391	731,308	723,867
	Nonmarketable equity investments (cost method)			8,162	-	4	8,596	8,600	8,061	8,490
Financial liabilities
	Deposits			930,267	-	856,769	74,969	931,738	920,070	921,803
	Short-term borrowings (1)			50,964	-	50,964	-	50,964	49,091	49,091
	Long-term debt (4)			129,649	-	-	132,353	132,353	125,238	126,484

Amounts consist of financial instruments in which carrying value approximates fair value.
Balance reflects MHFS and LHFS, as applicable, other than those MHFS and LHFS for which election of the fair value option was made.

Loans exclude balances for which the fair value option was elected. Loans exclude lease financing with a carrying amount of $13.1 billion at both March 31, 2012 and December 31, 2011, respectively.
The carrying amount and fair value exclude obligations under capital leases of $103 million and $116 million at March 31, 2012 and December 31, 2011, respectively.