Fair Values of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2013

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

Fair Value, Measurements from Brokers or Third Party Pricing Services



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

March 31, 2013
Trading assets (excluding derivatives)				$	-	664	7	1,335	813	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	716	6,168	-
	Securities of U.S. states and political subdivisions				-	161	-	-	36,630	-
	Mortgage-backed securities				-	365	4	-	139,882	283
	Other debt securities				-	14,839	2,588	-	29,621	73
		Total debt securities			-	15,365	2,592	716	212,301	356
		Total marketable equity securities			-	3	-	-	810	-
			Total securities available for sale		-	15,368	2,592	716	213,111	356
Derivatives (trading and other assets)					-	8	-	-	591	2
Derivatives (liabilities)					-	71	-	-	593	-
Other liabilities					6	218	-	-	41	-


December 31, 2012
Trading assets (excluding derivatives)				$	-	406	8	1,314	1,016	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	915	6,231	-
	Securities of U.S. states and political subdivisions				-	-	-	-	35,036	-
	Mortgage-backed securities				-	138	4	-	121,703	292
	Other debt securities				-	1,516	12,465	-	28,314	149
		Total debt securities			-	1,654	12,469	915	191,284	441
		Total marketable equity securities			-	3	-	29	774	-
			Total securities available for sale		-	1,657	12,469	944	192,058	441
Derivatives (trading and other assets)					-	8	-	-	602	-
Derivatives (liabilities)					-	26	-	-	634	-
Other liabilities					-	121	-	-	104	-

Assets and Liabilities Recorded at Fair Value on a Recurring Basis



(in millions)							Level 1	Level 2	Level 3		Netting		Total
March 31, 2013
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	8,378	4,318	-		-		12,696
	Securities of U.S. states and political subdivisions						-	3,758	36		-		3,794
	Collateralized loan and other debt obligations (1)						-	202	505		-		707
	Corporate debt securities						-	8,018	29		-		8,047
	Mortgage-backed securities						-	12,805	5		-		12,810
	Asset-backed securities						-	708	143		-		851
	Equity securities						4,089	55	-		-		4,144
		Total trading securities(2)					12,467	29,864	718		-		43,049
	Other trading assets						2,190	1,900	70		-		4,160
			Total trading assets (excluding derivatives)				14,657	31,764	788		-		47,209
Securities of U.S. Treasury and federal agencies							716	6,168	-		-		6,884
Securities of U.S. states and political subdivisions							-	36,927	3,529	(3)	-		40,456
Mortgage-backed securities:
	Federal agencies						-	105,472	-		-		105,472
	Residential						-	15,164	95		-		15,259
	Commercial						-	19,728	192		-		19,920
		Total mortgage-backed securities					-	140,364	287		-		140,651
Corporate debt securities							104	21,064	281		-		21,449
Collateralized loan and other debt obligations(4)							-	13,725	2,938	(3)	-		16,663
Asset-backed securities:
	Auto loans and leases						-	18	5,704	(3)	-		5,722
	Home equity loans						-	853	-		-		853
	Other asset-backed securities						-	8,383	3,436	(3)	-		11,819
		Total asset-backed securities					-	9,254	9,140		-		18,394
Other debt securities							-	884	-		-		884
			Total debt securities				820	228,386	16,175		-		245,381
Marketable equity securities:
	Perpetual preferred securities (5)						659	796	807	(3)	-		2,262
	Other marketable equity securities						475	42	-		-		517
			Total marketable equity securities				1,134	838	807		-		2,779
				Total securities available for sale			1,954	229,224	16,982		-		248,160
Mortgages held for sale							-	39,437	3,187		-		42,624
Loans							-	208	5,975		-		6,183
Mortgage servicing rights (residential)							-	-	12,061		-		12,061
Derivative assets:
	Interest rate contracts						6	61,054	933		-		61,993
	Commodity contracts						-	2,928	34		-		2,962
	Equity contracts						621	3,081	905		-		4,607
	Foreign exchange contracts						36	5,297	5		-		5,338
	Credit contracts						-	1,009	579		-		1,588
	Other derivative contracts						-	-	-		-		-
		Netting					-	-	-		(59,572)	(6)	(59,572)
			Total derivative assets (7)				663	73,369	2,456		(59,572)		16,916
Other assets							324	5	348		-		677
					Total assets recorded at fair value	$	17,598	374,007	41,797		(59,572)		373,830
Derivative liabilities:
	Interest rate contracts					$	(32)	(59,488)	(375)		-		(59,895)
	Commodity contracts						-	(3,008)	(37)		-		(3,045)
	Equity contracts						(271)	(3,621)	(1,034)		-		(4,926)
	Foreign exchange contracts						(14)	(3,792)	(39)		-		(3,845)
	Credit contracts						-	(1,020)	(1,604)		-		(2,624)
	Other derivative contracts						-	-	(52)		-		(52)
		Netting					-	-	-		66,419	(6)	66,419
			Total derivative liabilities (7)				(317)	(70,929)	(3,141)		66,419		(7,968)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(6,915)	(1,370)	-		-		(8,285)
	Securities of U.S. states and political subdivisions						-	(18)	-		-		(18)
	Corporate debt securities						-	(4,801)	-		-		(4,801)
	Equity securities						(1,731)	-	-		-		(1,731)
	Other securities						(1)	(147)	(8)		-		(156)
		Total short sale liabilities					(8,647)	(6,336)	(8)		-		(14,991)
Other liabilities							-	(31)	(48)		-		(79)
					Total liabilities recorded at fair value	$	(8,964)	(77,296)	(3,197)		66,419		(23,038)

Includes collateralized debt obligations of $8 million that are classified as trading assets.
Net gains (losses) from trading activities recognized in the income statement include $(141) million and $138 million in net unrealized gains (losses) on trading securities held at March 31, 2013 and 2012, respectively.
Balances consist of securities that are predominantly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity.
Includes collateralized debt obligations of $674 million that are classified as securities available for sale.
Perpetual preferred securities include 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 and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively.

(continued from previous page)


(in millions)							Level 1	Level 2	Level 3		Netting		Total
December 31, 2012
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	5,104	3,774	-		-		8,878
	Securities of U.S. states and political subdivisions						-	1,587	46		-		1,633
	Collateralized loans and other debt obligations (1)						-	-	742		-		742
	Corporate debt securities						-	6,664	52		-		6,716
	Mortgage-backed securities						-	13,380	6		-		13,386
	Asset-backed securities						-	722	138		-		860
	Equity securities						3,481	356	3		-		3,840
		Total trading securities(2)					8,585	26,483	987		-		36,055
	Other trading assets						2,150	887	76		-		3,113
			Total trading assets (excluding derivatives)				10,735	27,370	1,063		-		39,168
Securities of U.S. Treasury and federal agencies							915	6,231	-		-		7,146
Securities of U.S. states and political subdivisions							-	35,045	3,631	(3)	-		38,676
Mortgage-backed securities:
	Federal agencies						-	97,285	-		-		97,285
	Residential						-	15,837	94		-		15,931
	Commercial						-	19,765	203		-		19,968
		Total mortgage-backed securities					-	132,887	297		-		133,184
Corporate debt securities							125	20,934	274		-		21,333
Collateralized loan and other debt obligations (4)							-	-	13,188	(3)	-		13,188
Asset-backed securities:
	Auto loans and leases						-	7	5,921	(3)	-		5,928
	Home equity loans						-	867	51		-		918
	Other asset-backed securities						-	7,828	3,283	(3)	-		11,111
		Total asset-backed securities					-	8,702	9,255		-		17,957
Other debt securities							-	930	-		-		930
			Total debt securities				1,040	204,729	26,645		-		232,414
Marketable equity securities:
	Perpetual preferred securities (5)						629	753	794	(3)	-		2,176
	Other marketable equity securities						554	55	-		-		609
			Total marketable equity securities				1,183	808	794		-		2,785
				Total securities available for sale			2,223	205,537	27,439		-		235,199
Mortgages held for sale							-	39,055	3,250		-		42,305
Loans held for sale							-	6	-		-		6
Loans							-	185	6,021		-		6,206
Mortgage servicing rights (residential)							-	-	11,538		-		11,538
Derivative assets:
	Interest rate contracts						16	70,277	1,058		-		71,351
	Commodity contracts						-	3,386	70		-		3,456
	Equity contracts						432	2,747	604		-		3,783
	Foreign exchange contracts						19	5,481	24		-		5,524
	Credit contracts						-	1,160	650		-		1,810
	Other derivative contracts						-	-	-		-		-
		Netting					-	-	-		(62,108)	(6)	(62,108)
			Total derivative assets (7)				467	83,051	2,406		(62,108)		23,816
Other assets							136	123	162		-		421
					Total assets recorded at fair value	$	13,561	355,327	51,879		(62,108)		358,659
Derivative liabilities:
	Interest rate contracts					$	(52)	(68,244)	(399)		-		(68,695)
	Commodity contracts						-	(3,541)	(49)		-		(3,590)
	Equity contracts						(199)	(3,239)	(726)		-		(4,164)
	Foreign exchange contracts						(23)	(3,553)	(3)		-		(3,579)
	Credit contracts						-	(1,152)	(1,800)		-		(2,952)
	Other derivative contracts						-	-	(78)		-		(78)
		Netting					-	-	-		71,116	(6)	71,116
			Total derivative liabilities (7)				(274)	(79,729)	(3,055)		71,116		(11,942)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(4,225)	(875)	-		-		(5,100)
	Securities of U.S. states and political subdivisions						-	(9)	-		-		(9)
	Corporate debt securities						-	(3,941)	-		-		(3,941)
	Equity securities						(1,233)	(35)	-		-		(1,268)
	Other securities						-	(47)	-		-		(47)
		Total short sale liabilities					(5,458)	(4,907)	-		-		(10,365)
Other liabilities							-	(34)	(49)		-		(83)
					Total liabilities recorded at fair value	$	(5,732)	(84,670)	(3,104)		71,116		(22,390)

Includes collateralized debt obligations of $21 million that are classified as trading assets.
Net gains from trading activities recognized in the income statement include $305 million in net unrealized gains on trading securities we held at December 31, 2012.
Balances consist of securities that are predominantly investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity.
Includes collateralized debt obligations of $644 million that are classified as securities available for sale.
Perpetual preferred securities include 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 and derivative liabilities include contracts qualifying for hedge accounting, economic hedges, and derivatives included in trading assets and trading liabilities, respectively.

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, 2013
Trading securities (2)		$	-	-	202	(25)	25	(202)	-
Securities available for sale (2)			17	-	10,676	(17)	-	(10,676)	-
Mortgages held for sale			-	-	93	(97)	97	(93)	-
Loans			-	-	48	-	-	(48)	-
Net derivative assets and liabilities			-	-	(21)	-	-	21	-
	Total transfers	$	17	-	10,998	(139)	122	(10,998)	-
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)	-
Loans			-	-	-	-	-	-	-
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.
For quarter ended March 31, 2013, consists of $202 million of collateralized loan obligations classified as trading assets and $10.6 billion classified as securities available for sale that we transferred from Level 3 to Level 2 as a result of increased observable market data in the valuation of such instruments.

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
										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, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	46	3	-	(13)	-	-	36	1
	Collateralized loan and other debt obligations							742	39	-	(74)	-	(202)	505	4
	Corporate debt securities							52	2	-	(25)	-	-	29	2
	Mortgage-backed securities							6	-	-	(1)	-	-	5	-
	Asset-backed securities							138	5	-	(25)	25	-	143	-
	Equity securities							3	-	-	(3)	-	-	-	-
		Total trading securities						987	49	-	(141)	25	(202)	718	7
	Other trading assets							76	(6)	-	-	-	-	70	(2)
			Total trading assets
				(excluding derivatives)				1,063	43	-	(141)	25	(202)	788	5	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						3,631	2	(9)	(95)	-	-	3,529	-
	Mortgage-backed securities:
		Residential						94	(4)	6	-	-	(1)	95	-
		Commercial						203	(3)	8	(5)	-	(11)	192	(1)
			Total mortgage-backed
				securities				297	(7)	14	(5)	-	(12)	287	(1)
	Corporate debt securities							274	2	8	-	-	(3)	281	-
	Collateralized loan and other debt obligations							13,188	(1)	69	295	-	(10,613)	2,938	-
	Asset-backed securities:
		Auto loans and leases						5,921	-	9	(226)	-	-	5,704	-
		Home equity loans						51	3	(1)	(5)	-	(48)	-	-
		Other asset-backed securities						3,283	28	(5)	130	-	-	3,436	-
			Total asset-backed securities					9,255	31	3	(101)	-	(48)	9,140	-
				Total debt securities				26,645	27	85	94	-	(10,676)	16,175	(1)	(4)
	Marketable equity securities:
		Perpetual preferred securities						794	1	21	(9)	-	-	807	-
		Other marketable equity securities						-	-	-	-	-	-	-	-
				Total marketable
					equity securities			794	1	21	(9)	-	-	807	-	(5)
					Total securities
						available for sale		27,439	28	106	85	-	(10,676)	16,982	(1)
Mortgages held for sale								3,250	(7)	-	(60)	97	(93)	3,187	(7)	(6)
Loans								6,021	(47)	-	49	-	(48)	5,975	(39)	(6)
Mortgage servicing rights								11,538	11	-	512	-	-	12,061	761	(6)
Net derivative assets and liabilities:
	Interest rate contracts							659	268	-	(369)	-	-	558	357
	Commodity contracts							21	10	-	(23)	-	(11)	(3)	-
	Equity contracts							(122)	(39)	-	-	-	32	(129)	8
	Foreign exchange contracts							21	(53)	-	(2)	-	-	(34)	(56)
	Credit contracts							(1,150)	(13)	-	138	-	-	(1,025)	17
	Other derivative contracts							(78)	26	-	-	-	-	(52)	-
		Total derivative contracts						(649)	199	-	(256)	-	21	(685)	326	(7)
Other assets								162	(2)	-	188	-	-	348	(1)	(3)
Short sale liabilities								-	-	-	(8)	-	-	(8)	-	(3)
Other liabilities (excluding derivatives)								(49)	1	-	-	-	-	(48)	-	(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
										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 loan and other 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 loan and other 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)
Short sale liabilities								-	-	-	-	-	-	-	-	(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.

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




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Quarter ended March 31, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	77	(90)	-	-	(13)
	Collateralized loan and other debt obligations							249	(323)	-	-	(74)
	Corporate debt securities							58	(83)	-	-	(25)
	Mortgage-backed securities							-	(1)	-	-	(1)
	Asset-backed securities							6	(20)	-	(11)	(25)
	Equity securities							-	(3)	-	-	(3)
		Total trading securities						390	(520)	-	(11)	(141)
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				390	(520)	-	(11)	(141)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						-	(67)	75	(103)	(95)
	Mortgage-backed securities:
		Residential						-	-	-	-	-
		Commercial						-	(1)	-	(4)	(5)
			Total mortgage-backed
				securities				-	(1)	-	(4)	(5)
	Corporate debt securities							-	-	-	-	-
	Collateralized loan and other debt obligations							402	(14)	-	(93)	295
	Asset-backed securities:
		Auto loans and leases						351	-	148	(725)	(226)
		Home equity loans						-	(5)	-	-	(5)
		Other asset-backed securities						511	(34)	302	(649)	130
			Total asset-backed securities					862	(39)	450	(1,374)	(101)
				Total debt securities				1,264	(121)	525	(1,574)	94
	Marketable equity securities:
		Perpetual preferred securities						-	-	-	(9)	(9)
		Other marketable equity securities						-	-	-	-	-
				Total marketable
					equity securities			-	-	-	(9)	(9)
					Total securities
						available for sale		1,264	(121)	525	(1,583)	85
Mortgages held for sale								102	-	-	(162)	(60)
Loans								1	-	117	(69)	49
Mortgage servicing rights								-	(423)	935	-	512
Net derivative assets and liabilities:
	Interest rate contracts							-	1	-	(370)	(369)
	Commodity contracts							1	(1)	-	(23)	(23)
	Equity contracts							99	(67)	-	(32)	-
	Foreign exchange contracts							-	-	-	(2)	(2)
	Credit contracts							(3)	1	-	140	138
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						97	(66)	-	(287)	(256)
Other assets								197	-	-	(9)	188
Short sale liabilities								-	(8)	-	-	(8)
Other liabilities (excluding derivatives)								-	-	(3)	3	-




(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 loan and other 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 loan and other 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
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						121	(174)	-	(1,314)	(1,367)
Other assets								3	-	-	(16)	(13)
Short sale liabilities								-	-	-	-	-
Other liabilities (excluding derivatives)								(1)	2	-	-	1

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, 2013
Trading and available for sale securities:
	Securities of U.S. states and
	political subdivisions:
		Government, healthcare and
			other revenue bonds	$	2,983		Discounted cash flow	Discount rate	0.5	-	5.0	%	1.4

		Auction rate securities and other municipal bonds			582		Discounted cash flow	Discount rate	0.5	-	13.3		5.2
								Weighted average life	3.0	-	13.0	yrs	3.6
	Collateralized loan and other debt obligations(2)				876		Market comparable pricing	Comparability adjustment	(22.3)	-	24.0	%	(3.0)
					2,567		Vendor priced
	Asset-backed securities:
		Auto loans and leases			5,704		Discounted cash flow	Default rate	2.0	-	9.3		3.0
								Discount rate	0.4	-	1.8		0.8
								Loss severity	50.0	-	66.5		53.0
								Prepayment rate	0.6	-	0.9		0.7
		Other asset-backed securities:
			Dealer floor plan		1,472		Discounted cash flow	Discount rate	0.6	-	2.2		1.6
			Diversified payment rights (3)		620		Discounted cash flow	Discount rate	1.2	-	2.8		1.9
			Other commercial and consumer		1,413	(4)	Discounted cash flow	Discount rate	0.6	-	8.7		2.8
								Weighted average life	0.8	-	7.3	yrs	2.1
					74		Vendor priced
	Marketable equity securities: perpetual
	preferred				807	(5)	Discounted cash flow	Discount rate	4.4	-	9.2	%	5.9
								Weighted average life	1.0	-	7.0	yrs	5.5
Mortgages held for sale (residential)					3,187		Discounted cash flow	Default rate	0.7	-	14.9	%	3.5
								Discount rate	3.4	-	7.9		5.5
								Loss severity	1.4	-	36.2		26.6
								Prepayment rate	1.0	-	10.6		5.7
Loans					5,975	(6)	Discounted cash flow	Discount rate	2.3	-	3.0		2.8
								Prepayment rate	1.9	-	42.1		11.9
								Utilization rate	0.0	-	2.0		0.8
Mortgage servicing rights (residential)					12,061		Discounted cash flow	Cost to service per loan (7)	$ 90	-	854		216
								Discount rate	6.4	-	10.8	%	7.3
								Prepayment rate (8)	7.5	-	23.3		14.2
Net derivative assets and (liabilities):
	Interest rate contracts				143		Discounted cash flow	Default rate	0.0	-	20.0		5.6
								Loss severity	50.0	-	81.8		51.3
								Prepayment rate	5.8	-	15.6		15.0
	Interest rate contracts: derivative loan
		commitments			415		Discounted cash flow	Fall-out factor	1.0	-	99.0		21.9
								Initial-value servicing	(13.7)	-	124.3	bps	79.7
	Equity contracts				(129)		Option model	Correlation factor	(25.0)	-	94.5	%	67.3
								Volatility factor	9.5	-	68.2		22.9
	Credit contracts				(1,031)		Market comparable pricing	Comparability adjustment	(32.8)	-	33.5		0.1
					6		Option model	Credit spread	0.1	-	14.0		1.2
								Loss severity	16.5	-	87.5		45.6

Insignificant Level 3 assets,
	net of liabilities				875	(9)
		Total level 3 assets, net of liabilities		$	38,600	(10)

Weighted averages are calculated using outstanding unpaid principal balance for cash instruments such as loans and securities, and notional amounts for derivative instruments.
Includes $682 million of collateralized debt obligations.
Securities backed by specified sources of current and future receivables generated from foreign originators.
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.
Consists predominantly of reverse mortgage loans securitized with GNMA which were accounted for as secured borrowing transactions.
The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $90 - $383.
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, 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 $41.8 billion and total Level 3 liabilities of $3.2 billion, before netting of derivative balances.


				Fair Value				Significant	Range of				Weighted
($ in millions, except cost to service amounts)				Level 3			Valuation Technique(s)	Unobservable Input	Inputs				Average (1)
December 31, 2012
Trading and available for sale securities:
	Securities of U.S. states and
	political subdivisions:
		Government, healthcare and
			other revenue bonds	$	3,081		Discounted cash flow	Discount rate	0.5	-	4.8	%	1.8

		Auction rate securities and other municipal bonds			596		Discounted cash flow	Discount rate	2.0	-	12.9		4.4
								Weighted average life	3.0	-	7.5	yrs	3.4
	Collateralized loan and other debt obligations(2)				1,423		Market comparable pricing	Comparability adjustment	(22.5)	-	24.7	%	3.5
					12,507		Vendor priced
	Asset-backed securities:
		Auto loans and leases			5,921		Discounted cash flow	Default rate	2.1	-	9.7		3.2
								Discount rate	0.6	-	1.6		1.0
								Loss severity	50.0	-	66.6		51.8
								Prepayment rate	0.6	-	0.9		0.7
		Other asset-backed securities:
			Dealer floor plan		1,030		Discounted cash flow	Discount rate	0.5	-	2.2		1.9
			Diversified payment rights (3)		639		Discounted cash flow	Discount rate	1.0	-	2.9		1.8
			Other commercial and consumer		1,665	(4)	Discounted cash flow	Discount rate	0.6	-	6.8		2.7
								Weighted average life	1.0	-	7.5	yrs	2.9
					87		Vendor priced
	Marketable equity securities: perpetual
		preferred			794	(5)	Discounted cash flow	Discount rate	4.3	-	9.3	%	6.3
								Weighted average life	1.0	-	7.0	yrs	5.3
Mortgages held for sale (residential)					3,250		Discounted cash flow	Default rate	0.6	-	14.8	%	5.5
								Discount rate	3.4	-	7.5		5.4
								Loss severity	1.3	-	35.3		26.4
								Prepayment rate	1.0	-	11.0		6.2
Loans					6,021	(6)	Discounted cash flow	Discount rate	2.4	-	2.8		2.6
								Prepayment rate	1.6	-	44.4		11.6
								Utilization rate	0.0	-	2.0		0.8
Mortgage servicing rights (residential)					11,538		Discounted cash flow	Cost to service per loan (7)	$ 90	-	854		219
								Discount rate	6.7	-	10.9	%	7.4
								Prepayment rate (8)	7.3	-	23.7		15.7
Net derivative assets and (liabilities):
	Interest rate contracts				162		Discounted cash flow	Default rate	0.0	-	20.0		5.4
								Loss severity	45.8	-	83.2		51.6
								Prepayment rate	7.4	-	15.6		14.9
	Interest rate contracts: derivative loan
		commitments			497		Discounted cash flow	Fall-out factor	1.0	-	99.0		22.9
								Initial-value servicing	(13.7)	-	137.2	bps	85.6
	Equity contracts				(122)		Option model	Correlation factor	(43.6)	-	94.5	%	50.3
								Volatility factor	3.0	-	68.9		26.5
	Credit contracts				(1,157)		Market comparable pricing	Comparability adjustment	(34.4)	-	30.5		0.1
					8		Option model	Credit spread	0.1	-	14.0		2.0
								Loss severity	16.5	-	87.5		52.3

Insignificant Level 3 assets,
	net of liabilities				835	(9)
		Total level 3 assets, net of liabilities		$	48,775	(10)

Weighted averages are calculated using outstanding unpaid principal balance for cash instruments such as loans and securities, and notional amounts for derivative instruments.
Includes $665 million of collateralized debt obligations.
Securities backed by specified sources of current and future receivables generated from foreign originators.
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.
Consists predominantly of reverse mortgage loans securitized with GNMA which were accounted for as secured borrowing transactions.
The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $90 - $437.
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, 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 $51.9 billion and total Level 3 liabilities of $3.1 billion, before netting of derivative balances.

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



				March 31, 2013				December 31, 2012
(in millions)				Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Mortgages held for sale (LOCOM) (1)			$	-	2,155	1,042	3,197	-	1,509	1,045	2,554
Loans held for sale				-	-	-	-	-	4	-	4
Loans:
	Commercial			-	228	3	231	-	1,507	-	1,507
	Consumer			-	1,541	4	1,545	-	5,889	4	5,893
		Total loans (2)		-	1,769	7	1,776	-	7,396	4	7,400
Other assets (3)				-	290	66	356	-	989	144	1,133

Predominantly real estate 1-4 family first mortgage loans.
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)					2013	2012
Mortgages held for sale (LOCOM)				$	39	48
Loans held for sale					-	(1)
Loans:
	Commercial				(91)	(301)
	Consumer(1)				(907)	(1,203)
		Total loans			(998)	(1,504)
Other assets (2)					(79)	(140)
			Total	$	(1,038)	(1,597)

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 Inputs (1)		of inputs				Average (2)
March 31, 2013
Residential mortgages held for sale
	(LOCOM)	$	1,042	(3)	Discounted cash flow	Default rate	(4)	1.1	-	6.5	%	3.0	%
						Discount rate		4.0	-	11.8		10.7
						Loss severity		2.0	-	42.6		5.8
						Prepayment rate	(5)	1.0	-	100.0		66.3
Insignificant level 3 assets			73
	Total		1,115

December 31, 2012
Residential mortgages held for sale		$	1,045	(3)	Discounted cash flow	Default rate	(4)	2.9	-	21.2	%	7.9	%
	(LOCOM)					Discount rate		4.1	-	11.9		10.9
						Loss severity		2.0	-	45.0		6.0
						Prepayment rate	(5)	1.0	-	100.0		66.7
Insignificant level 3 assets			148
	Total		1,193

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 $942 million government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitization, for both March 31, 2013 and December 31, 2012, and $100 million and $103 million of other mortgage loans which are not government insured/guaranteed for March 31, 2013 and December 31, 2012, respectively.
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, 2013
Offshore funds		$	444	-	Daily - Annually	1 - 180 days
Funds of funds			1	-	Quarterly	90 days
Hedge funds			2	-	Daily - Annually	5 - 95 days
Private equity funds			773	183	N/A	N/A
Venture capital funds			78	19	N/A	N/A
	Total	$	1,298	202
December 31, 2012
Offshore funds		$	379	-	Daily - Annually	1 - 180 days
Funds of funds			1	-	Quarterly	90 days
Hedge funds			2	-	Daily - Annually	5 - 95 days
Private equity funds			807	195	N/A	N/A
Venture capital funds			82	21	N/A	N/A
	Total	$	1,271	216

N/A - Not applicable

Fair Value Option, Carrying Amount



			March 31, 2013				December 31, 2012
					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	$	42,624	41,907	717	(1)	42,305	41,183	1,122	(1)
	Nonaccrual loans		336	633	(297)		309	655	(346)
	Loans 90 days or more past due and still accruing		49	66	(17)		49	64	(15)
Loans held for sale:
	Total loans		-	9	(9)		6	10	(4)
	Nonaccrual loans		-	6	(6)		2	6	(4)
Loans:
	Total loans		6,183	5,693	490		6,206	5,669	537
	Nonaccrual loans		112	110	2		89	89	-
Other assets			197	n/a	n/a		-	n/a	n/a
Long-term debt			-	(199)	199	(2)	(1)	(1,157)	1,156	(2)

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.
Represents collateralized, non-recourse debt securities issued by certain of our consolidated securitization VIEs that are held by third party investors. To the extent cash flows from the underlying collateral are not sufficient to pay the unpaid principal amount of the debt, those third party investors absorb losses.

Fair Value Option, Gains and Losses



	2013				2012
			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	$	973	-	-	1,795	-	1
Loans held for sale		-	-	-	-	-	13
Loans		-	-	(47)	-	-	42
Other assets		-	-	14	-	-	-
Other interests held		-	(7)	6	-	(9)	23

Fair Value Option, Instrument Specific Credit Risk


			Quarter ended March 31,
(in millions)				2013	2012
Gains (losses) attributable to
	instrument-specific credit risk:
	Mortgages held for sale		$	37	(39)
	Loans held for sale			-	13
		Total	$	37	(26)

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



					Estimated fair value
(in millions)				Carrying amount	Level 1	Level 2	Level 3	Total
March 31, 2013

Financial assets
	Cash and due from banks (1)		$	16,217	16,217	-	-	16,217
	Federal funds sold, securities purchased under resale
		agreements and other short-term investments (1)		143,804	4,505	139,299	-	143,804
	Mortgages held for sale (2)			4,078	-	3,032	1,042	4,074
	Loans held for sale (2)			194	-	190	13	203
	Loans, net (3)			764,756	-	57,607	717,077	774,684
	Nonmarketable equity investments (cost method)			6,649	-	2	8,146	8,148
Financial liabilities
	Deposits			1,010,733	-	956,330	55,308	1,011,638
	Short-term borrowings (1)			60,693	-	60,693	-	60,693
	Long-term debt (4)			126,179	-	118,812	10,842	129,654
December 31, 2012

Financial assets
	Cash and due from banks (1)		$	21,860	21,860	-	-	21,860
	Federal funds sold, securities purchased under resale
		agreements and other short-term investments (1)		137,313	5,046	132,267	-	137,313
	Mortgages held for sale (2)			4,844	-	3,808	1,045	4,853
	Loans held for sale (2)			104	-	83	29	112
	Loans, net (3)			763,968	-	56,237	716,114	772,351
	Nonmarketable equity investments (cost method)			6,799	-	2	8,229	8,231
Financial liabilities
	Deposits			1,002,835	-	946,922	57,020	1,003,942
	Short-term borrowings (1)			57,175	-	57,175	-	57,175
	Long-term debt (4)			127,366	-	119,220	11,063	130,283

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 and also exclude lease financing with a carrying amount of $12.4 billion at both March 31, 2013 and December 31, 2012, respectively.
The carrying amount and fair value exclude balances for which the fair value option was elected and obligations under capital leases of $12 million at both March 31, 2013 and December 31, 2012, respectively.