Fair Values of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 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

June 30, 2013
Trading assets (excluding derivatives)				$	-	332	5	1,431	1,423	-
Securities available for sale:
	Securities of U.S. Treasury and federal agencies				-	-	-	520	5,863	-
	Securities of U.S. states and political subdivisions				-	-	-	-	37,050	68
	Mortgage-backed securities				-	749	1	-	143,074	286
	Other debt securities (1)				-	15,019	2,719	-	28,620	109
		Total debt securities			-	15,768	2,720	520	214,607	463
		Total marketable equity securities			-	-	-	8	805	-
			Total securities available for sale		-	15,768	2,720	528	215,412	463
Derivatives (trading and other assets)					-	6	-	-	519	2
Derivatives (liabilities)					-	31	-	-	517	-
Other liabilities					3	166	-	-	144	-


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)				-	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	-


(1)	Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities.

Assets and Liabilities Recorded at Fair Value on a Recurring Basis



(in millions)							Level 1	Level 2	Level 3		Netting		Total
June 30, 2013
Trading assets (excluding derivatives)
	Securities of U.S. Treasury and federal agencies					$	6,849	3,466	-		-		10,315
	Securities of U.S. states and political subdivisions						-	2,354	40		-		2,394
	Collateralized loan and other debt obligations (1)						-	191	495		-		686
	Corporate debt securities						-	7,763	14		-		7,777
	Mortgage-backed securities						-	14,436	9		-		14,445
	Asset-backed securities						-	821	109		-		930
	Equity securities						4,085	112	-		-		4,197
		Total trading securities(2)					10,934	29,143	667		-		40,744
	Other trading assets						2,305	1,300	63		-		3,668
			Total trading assets (excluding derivatives)				13,239	30,443	730		-		44,412
Securities of U.S. Treasury and federal agencies							520	5,863	-		-		6,383
Securities of U.S. states and political subdivisions							-	37,131	3,759	(3)	-		40,890
Mortgage-backed securities:
	Federal agencies						-	110,561	-		-		110,561
	Residential						-	14,019	98		-		14,117
	Commercial						-	19,112	194		-		19,306
		Total mortgage-backed securities					-	143,692	292		-		143,984
Corporate debt securities							84	20,675	243		-		21,002
Collateralized loan and other debt obligations(4)							-	13,974	3,227	(3)	-		17,201
Asset-backed securities:
	Auto loans and leases						-	14	4,872	(3)	-		4,886
	Home equity loans						-	857	-		-		857
	Other asset-backed securities						-	7,715	2,948	(3)	-		10,663
		Total asset-backed securities					-	8,586	7,820		-		16,406
Other debt securities							-	816	-		-		816
			Total debt securities				604	230,737	15,341		-		246,682
Marketable equity securities:
	Perpetual preferred securities (5)						573	799	788	(3)	-		2,160
	Other marketable equity securities						583	14	-		-		597
			Total marketable equity securities				1,156	813	788		-		2,757
				Total securities available for sale			1,760	231,550	16,129		-		249,439
Mortgages held for sale							-	32,761	2,641		-		35,402
Loans held for sale							-	2	-		-		2
Loans							-	228	5,860		-		6,088
Mortgage servicing rights (residential)							-	-	14,185		-		14,185
Derivative assets:
	Interest rate contracts						31	61,357	424		-		61,812
	Commodity contracts						-	3,006	18		-		3,024
	Equity contracts						592	3,516	1,094		-		5,202
	Foreign exchange contracts						45	4,805	-		-		4,850
	Credit contracts						-	886	647		-		1,533
	Other derivative contracts						-	-	-		-		-
		Netting					-	-	-		(58,551)	(6)	(58,551)
			Total derivative assets (7)				668	73,570	2,183		(58,551)		17,870
Other assets							341	5	731		-		1,077
					Total assets recorded at fair value	$	16,008	368,559	42,459		(58,551)		368,475
Derivative liabilities:
	Interest rate contracts					$	(38)	(59,416)	(985)		-		(60,439)
	Commodity contracts						-	(3,038)	(30)		-		(3,068)
	Equity contracts						(301)	(3,741)	(1,067)		-		(5,109)
	Foreign exchange contracts						(39)	(4,084)	(29)		-		(4,152)
	Credit contracts						-	(904)	(1,446)		-		(2,350)
	Other derivative contracts						-	-	(36)		-		(36)
		Netting					-	-	-		63,998	(6)	63,998
			Total derivative liabilities (7)				(378)	(71,183)	(3,593)		63,998		(11,156)
Short sale liabilities:
	Securities of U.S. Treasury and federal agencies						(4,297)	(1,207)	-		-		(5,504)
	Securities of U.S. states and political subdivisions						-	(18)	-		-		(18)
	Corporate debt securities						-	(4,612)	-		-		(4,612)
	Equity securities						(1,617)	-	-		-		(1,617)
	Other securities						-	(233)	-		-		(233)
		Total short sale liabilities					(5,914)	(6,070)	-		-		(11,984)
Other liabilities							-	-	(43)		-		(43)
					Total liabilities recorded at fair value	$	(6,292)	(77,253)	(3,636)		63,998		(23,183)

Includes collateralized debt obligations of $5 million.
Net gains (losses) from trading activities recognized in the income statement include $(646) million and $131 million in net unrealized gains (losses) on trading securities held at June 30, 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 $705 million.
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 loan 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.
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.
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 June 30, 2013
Trading securities		$	-	(246)	266	(1)	1	(20)	-
Securities available for sale			-	-	165	-	-	(165)	-
Mortgages held for sale			-	-	46	(81)	81	(46)	-
Loans			-	-	58	-	-	(58)	-
Net derivative assets and liabilities			-	-	70	-	-	(70)	-
	Total transfers	$	-	(246)	605	(82)	82	(359)	-
Quarter ended June 30, 2012
Trading securities		$	-	-	-	-	-	-	-
Securities available for sale (3)			-	-	3,943	(14)	14	(3,943)	-
Mortgages held for sale			-	-	64	(84)	84	(64)	-
Loans			-	-	-	-	-	-	-
Net derivative assets and liabilities			-	-	1	-	-	(1)	-
	Total transfers	$	-	-	4,008	(98)	98	(4,008)	-
Six months ended June 30, 2013
Trading securities (2)		$	-	(246)	468	(26)	26	(222)	-
Securities available for sale (2)			17	-	10,841	(17)	-	(10,841)	-
Mortgages held for sale			-	-	139	(178)	178	(139)	-
Loans			-	-	106	-	-	(106)	-
Net derivative assets and liabilities			-	-	49	-	-	(49)	-
	Total transfers	$	17	(246)	11,603	(221)	204	(11,357)	-
Six months ended June 30, 2012
Trading securities		$	-	-	10	(14)	14	(10)	-
Securities available for sale (3)			-	-	4,036	(57)	57	(4,036)	-
Mortgages held for sale			-	-	150	(171)	171	(150)	-
Loans			-	-	-	-	-	-	-
Net derivative assets and liabilities			-	-	13	8	(8)	(13)	-
	Total transfers	$	-	-	4,209	(234)	234	(4,209)	-

All transfers in and out of Level 3 are disclosed within the recurring level 3 rollforward table in this Note.
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 in first quarter 2013 as a result of increased observable market data in the valuation of such instruments.
Includes $3.9 billion of securities of U.S. states and political subdivisions that we transferred from Level 3 to Level 2 during second quarter 2012 as a result of increased use of observable market data in the valuation of such instruments. This transfer was done in conjunction with a change in our valuation technique from an internal model based upon unobservable inputs to third party vendor pricing based upon market observable data.

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 June 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	36	(1)	-	5	-	-	40	-
	Collateralized loan and other debt obligations							505	25	-	(35)	-	-	495	(13)
	Corporate debt securities							29	-	-	(16)	1	-	14	(1)
	Mortgage-backed securities							5	1	-	3	-	-	9	-
	Asset-backed securities							143	(3)	-	(11)	-	(20)	109	(10)
	Equity securities							-	-	-	-	-	-	-	-
		Total trading securities						718	22	-	(54)	1	(20)	667	(24)
	Other trading assets							70	(7)	-	-	-	-	63	(2)
			Total trading assets
				(excluding derivatives)				788	15	-	(54)	1	(20)	730	(26)	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						3,529	2	(58)	451	-	(165)	3,759	-
	Mortgage-backed securities:
		Residential						95	1	5	(3)	-	-	98	-
		Commercial						192	(4)	9	(3)	-	-	194	(3)
			Total mortgage-backed
				securities				287	(3)	14	(6)	-	-	292	(3)
	Corporate debt securities							281	2	(17)	(23)	-	-	243	-
	Collateralized loan and other debt obligations							2,938	(3)	22	270	-	-	3,227	-
	Asset-backed securities:
		Auto loans and leases						5,704	-	(34)	(798)	-	-	4,872	-
		Home equity loans						-	-	-	-	-	-	-	-
		Other asset-backed securities						3,436	(4)	5	(489)	-	-	2,948	(7)
			Total asset-backed securities					9,140	(4)	(29)	(1,287)	-	-	7,820	(7)
				Total debt securities				16,175	(6)	(68)	(595)	-	(165)	15,341	(10)	(4)
	Marketable equity securities:
		Perpetual preferred securities						807	2	2	(23)	-	-	788	-
		Other marketable equity securities						-	-	-	-	-	-	-	-
				Total marketable
					equity securities			807	2	2	(23)	-	-	788	-	(5)
					Total securities
						available for sale		16,982	(4)	(66)	(618)	-	(165)	16,129	(10)
Mortgages held for sale								3,187	34	-	(615)	81	(46)	2,641	(54)	(6)
Loans								5,975	(107)	-	50	-	(58)	5,860	(99)	(6)
Mortgage servicing rights								12,061	1,225	-	899	-	-	14,185	1,867	(6)
Net derivative assets and liabilities:
	Interest rate contracts							558	(1,251)	-	132	-	-	(561)	(707)
	Commodity contracts							(3)	(3)	-	(8)	-	2	(12)	20
	Equity contracts							(129)	10	-	218	-	(72)	27	(3)
	Foreign exchange contracts							(34)	(1)	-	6	-	-	(29)	9
	Credit contracts							(1,025)	-	-	226	-	-	(799)	30
	Other derivative contracts							(52)	15	-	1	-	-	(36)	-
		Total derivative contracts						(685)	(1,230)	-	575	-	(70)	(1,410)	(651)	(7)
Other assets								348	38	-	345	-	-	731	16	(3)
Short sale liabilities								(8)	-	-	8	-	-	-	-	(3)
Other liabilities (excluding derivatives)								(48)	5	-	-	-	-	(43)	4	(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, equity investments 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 June 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	103	-	-	(45)	-	-	58	-
	Collateralized loan and other debt obligations							1,539	1	-	(267)	-	-	1,273	(11)
	Corporate debt securities							132	(2)	-	(74)	-	-	56	(1)
	Mortgage-backed securities							54	4	-	35	-	-	93	2
	Asset-backed securities							164	17	-	(2)	-	-	179	12
	Equity securities							3	1	-	(1)	-	-	3	-
		Total trading securities						1,995	21	-	(354)	-	-	1,662	2
	Other trading assets							108	(17)	-	-	-	-	91	(11)
			Total trading assets
				(excluding derivatives)				2,103	4	-	(354)	-	-	1,753	(9)	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						12,514	(1)	30	863	-	(3,901)	9,505	(3)
	Mortgage-backed securities:
		Residential						58	11	10	(34)	1	(31)	15	-
		Commercial						232	1	(1)	(43)	-	-	189	(1)
			Total mortgage-backed
				securities				290	12	9	(77)	1	(31)	204	(1)
	Corporate debt securities							308	(2)	(16)	(4)	-	-	286	-
	Collateralized loan and other debt obligations							9,163	28	(6)	(38)	-	-	9,147	-
	Asset-backed securities:
		Auto loans and leases						6,913	2	(13)	(696)	-	-	6,206	-
		Home equity loans						257	4	(4)	(2)	13	(11)	257	(4)
		Other asset-backed securities						2,869	(26)	5	226	-	-	3,074	(16)
			Total asset-backed securities					10,039	(20)	(12)	(472)	13	(11)	9,537	(20)
				Total debt securities				32,314	17	5	272	14	(3,943)	28,679	(24)	(4)
	Marketable equity securities:
		Perpetual preferred securities						1,173	40	(32)	(254)	-	-	927	-
		Other marketable equity securities						3	1	-	(2)	-	-	2	-
				Total marketable
					equity securities			1,176	41	(32)	(256)	-	-	929	-	(5)
					Total securities
						available for sale		33,490	58	(27)	16	14	(3,943)	29,608	(24)
Mortgages held for sale								3,330	1	-	(23)	84	(64)	3,328	1	(6)
Loans								25	-	-	(1)	-	-	24	-	(6)
Mortgage servicing rights								13,578	(2,343)	-	846	-	-	12,081	(1,631)	(6)
Net derivative assets and liabilities:
	Interest rate contracts							335	2,528	-	(1,957)	-	-	906	778
	Commodity contracts							(14)	22	-	(4)	-	-	4	9
	Equity contracts							(180)	51	-	(140)	-	-	(269)	(505)
	Foreign exchange contracts							16	(25)	-	11	-	(1)	1	(15)
	Credit contracts							(1,753)	(60)	-	156	-	-	(1,657)	(7)
	Other derivative contracts							(66)	(40)	-	-	-	-	(106)	-
		Total derivative contracts						(1,662)	2,476	-	(1,934)	-	(1)	(1,121)	260	(7)
Other assets								228	7	-	(10)	-	-	225	5	(3)
Short sale liabilities								-	-	-	(9)	-	-	(9)	-	(3)
Other liabilities (excluding derivatives)								(42)	(3)	-	(200)	-	-	(245)	-	(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)
Six months ended June 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	46	2	-	(8)	-	-	40	-
	Collateralized loan and other debt obligations							742	64	-	(109)	-	(202)	495	(11)
	Corporate debt securities							52	2	-	(41)	1	-	14	-
	Mortgage-backed securities							6	1	-	2	-	-	9	1
	Asset-backed securities							138	2	-	(36)	25	(20)	109	(9)
	Equity securities							3	-	-	(3)	-	-	-	-
		Total trading securities						987	71	-	(195)	26	(222)	667	(19)
	Other trading assets							76	(13)	-	-	-	-	63	(4)
			Total trading assets
				(excluding derivatives)				1,063	58	-	(195)	26	(222)	730	(23)	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						3,631	4	(67)	356	-	(165)	3,759	-
	Mortgage-backed securities:
		Residential						94	(3)	11	(3)	-	(1)	98	-
		Commercial						203	(7)	17	(8)	-	(11)	194	(3)
			Total mortgage-backed
				securities				297	(10)	28	(11)	-	(12)	292	(3)
	Corporate debt securities							274	4	(9)	(23)	-	(3)	243	-
	Collateralized loan and other debt obligations							13,188	(4)	91	565	-	(10,613)	3,227	-
	Asset-backed securities:
		Auto loans and leases						5,921	-	(25)	(1,024)	-	-	4,872	-
		Home equity loans						51	3	(1)	(5)	-	(48)	-	-
		Other asset-backed securities						3,283	24	-	(359)	-	-	2,948	(7)
			Total asset-backed securities					9,255	27	(26)	(1,388)	-	(48)	7,820	(7)
				Total debt securities				26,645	21	17	(501)	-	(10,841)	15,341	(10)	(4)
	Marketable equity securities:
		Perpetual preferred securities						794	3	23	(32)	-	-	788	-
		Other marketable equity securities						-	-	-	-	-	-	-	-
				Total marketable
					equity securities			794	3	23	(32)	-	-	788	-	(5)
					Total securities
						available for sale		27,439	24	40	(533)	-	(10,841)	16,129	(10)
Mortgages held for sale								3,250	27	-	(675)	178	(139)	2,641	(62)	(6)
Loans								6,021	(154)	-	99	-	(106)	5,860	(137)	(6)
Mortgage servicing rights								11,538	1,236	-	1,411	-	-	14,185	2,628	(6)
Net derivative assets and liabilities:
	Interest rate contracts							659	(983)	-	(237)	-	-	(561)	(710)
	Commodity contracts							21	7	-	(31)	-	(9)	(12)	26
	Equity contracts							(122)	(29)	-	218	-	(40)	27	(31)
	Foreign exchange contracts							21	(54)	-	4	-	-	(29)	(46)
	Credit contracts							(1,150)	(13)	-	364	-	-	(799)	37
	Other derivative contracts							(78)	41	-	1	-	-	(36)	-
		Total derivative contracts						(649)	(1,031)	-	319	-	(49)	(1,410)	(724)	(7)
Other assets								162	36	-	533	-	-	731	39	(3)
Short sale liabilities								-	-	-	-	-	-	-	-	(3)
Other liabilities (excluding derivatives)								(49)	6	-	-	-	-	(43)	4	(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, equity investments 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)
Six months ended June 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	53	-	-	5	-	-	58	(1)
	Collateralized loan and other debt obligations							1,582	18	-	(327)	-	-	1,273	(16)
	Corporate debt securities							97	(2)	-	(39)	-	-	56	(2)
	Mortgage-backed securities							108	3	-	(8)	-	(10)	93	(2)
	Asset-backed securities							190	28	-	(53)	14	-	179	16
	Equity securities							4	1	-	(2)	-	-	3	-
		Total trading securities						2,034	48	-	(424)	14	(10)	1,662	(5)
	Other trading assets							115	(24)	-	-	-	-	91	(11)
			Total trading assets
				(excluding derivatives)				2,149	24	-	(424)	14	(10)	1,753	(16)	(3)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						11,516	(5)	194	1,701	-	(3,901)	9,505	(10)
	Mortgage-backed securities:
		Residential						61	11	11	(35)	28	(61)	15	(1)
		Commercial						232	(14)	21	(50)	-	-	189	(17)
			Total mortgage-backed
				securities				293	(3)	32	(85)	28	(61)	204	(18)
	Corporate debt securities							295	3	(5)	(8)	1	-	286	-
	Collateralized loan and other debt obligations							8,599	85	177	286	-	-	9,147	-
	Asset-backed securities:
		Auto loans and leases						6,641	3	7	(445)	-	-	6,206	-
		Home equity loans						282	11	14	(3)	27	(74)	257	(4)
		Other asset-backed securities						2,863	(23)	62	171	1	-	3,074	(21)
			Total asset-backed securities					9,786	(9)	83	(277)	28	(74)	9,537	(25)
				Total debt securities				30,489	71	481	1,617	57	(4,036)	28,679	(53)	(4)
	Marketable equity securities:
		Perpetual preferred securities						1,344	71	(24)	(464)	-	-	927	-
		Other marketable equity securities						23	1	(15)	(7)	-	-	2	-
				Total marketable
					equity securities			1,367	72	(39)	(471)	-	-	929	-	(5)
					Total securities
						available for sale		31,856	143	442	1,146	57	(4,036)	29,608	(53)
Mortgages held for sale								3,410	(34)	-	(69)	171	(150)	3,328	(30)	(6)
Loans								23	-	-	1	-	-	24	-	(6)
Mortgage servicing rights								12,603	(3,144)	-	2,622	-	-	12,081	(1,789)	(6)
Net derivative assets and liabilities:
	Interest rate contracts							609	3,686	-	(3,389)	-	-	906	776
	Commodity contracts							-	23	-	(11)	(8)	-	4	13
	Equity contracts							(75)	(44)	-	(137)	-	(13)	(269)	(629)
	Foreign exchange contracts							(7)	2	-	6	-	-	1	8
	Credit contracts							(1,998)	111	-	230	-	-	(1,657)	56
	Other derivative contracts							(117)	11	-	-	-	-	(106)	-
		Total derivative contracts						(1,588)	3,789	-	(3,301)	(8)	(13)	(1,121)	224	(7)
Other assets								244	4	-	(23)	-	-	225	(2)	(3)
Short sale liabilities								-	-	-	(9)	-	-	(9)	-	(3)
Other liabilities (excluding derivatives)								(44)	(2)	-	(199)	-	-	(245)	-	(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 June 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	46	(41)	-	-	5
	Collateralized loan and other debt obligations							270	(302)	-	(3)	(35)
	Corporate debt securities							8	(24)	-	-	(16)
	Mortgage-backed securities							4	(1)	-	-	3
	Asset-backed securities							6	(7)	-	(10)	(11)
	Equity securities							-	-	-	-	-
		Total trading securities						334	(375)	-	(13)	(54)
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				334	(375)	-	(13)	(54)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						-	-	630	(179)	451
	Mortgage-backed securities:
		Residential						-	-	-	(3)	(3)
		Commercial						-	-	-	(3)	(3)
			Total mortgage-backed
				securities				-	-	-	(6)	(6)
	Corporate debt securities							-	-	-	(23)	(23)
	Collateralized loan and other debt obligations							371	-	-	(101)	270
	Asset-backed securities:
		Auto loans and leases						1	-	156	(955)	(798)
		Home equity loans						-	-	-	-	-
		Other asset-backed securities						11	(2)	306	(804)	(489)
			Total asset-backed securities					12	(2)	462	(1,759)	(1,287)
				Total debt securities				383	(2)	1,092	(2,068)	(595)
	Marketable equity securities:
		Perpetual preferred securities						-	(20)	-	(3)	(23)
		Other marketable equity securities						-	-	-	-	-
				Total marketable
					equity securities			-	(20)	-	(3)	(23)
					Total securities
						available for sale		383	(22)	1,092	(2,071)	(618)
Mortgages held for sale								101	(572)	-	(144)	(615)
Loans								21	-	115	(86)	50
Mortgage servicing rights								-	(161)	1,060	-	899
Net derivative assets and liabilities:
	Interest rate contracts							-	8	-	124	132
	Commodity contracts							1	(1)	-	(8)	(8)
	Equity contracts							170	(142)	-	190	218
	Foreign exchange contracts							-	-	-	6	6
	Credit contracts							8	(2)	-	220	226
	Other derivative contracts							-	-	-	1	1
		Total derivative contracts						179	(137)	-	533	575
Other assets								360	(1)	-	(14)	345
Short sale liabilities								8	-	-	-	8
Other liabilities (excluding derivatives)								-	-	(1)	1	-




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Quarter ended June 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	9	(54)	-	-	(45)
	Collateralized loan and other debt obligations							181	(448)	-	-	(267)
	Corporate debt securities							70	(144)	-	-	(74)
	Mortgage-backed securities							41	(6)	-	-	35
	Asset-backed securities							26	(16)	-	(12)	(2)
	Equity securities							1	(2)	-	-	(1)
		Total trading securities						328	(670)	-	(12)	(354)
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				328	(670)	-	(12)	(354)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						978	(2)	312	(425)	863
	Mortgage-backed securities:
		Residential						1	(34)	-	(1)	(34)
		Commercial						10	-	-	(53)	(43)
			Total mortgage-backed
				securities				11	(34)	-	(54)	(77)
	Corporate debt securities							-	-	-	(4)	(4)
	Collateralized loan and other debt obligations							665	(185)	-	(518)	(38)
	Asset-backed securities:
		Auto loans and leases						205	-	147	(1,048)	(696)
		Home equity loans						-	(2)	-	-	(2)
		Other asset-backed securities						503	(68)	425	(634)	226
			Total asset-backed securities					708	(70)	572	(1,682)	(472)
				Total debt securities				2,362	(291)	884	(2,683)	272
	Marketable equity securities:
		Perpetual preferred securities						-	-	-	(254)	(254)
		Other marketable equity securities						-	(1)	-	(1)	(2)
				Total marketable
					equity securities			-	(1)	-	(255)	(256)
					Total securities
						available for sale		2,362	(292)	884	(2,938)	16
Mortgages held for sale								144	-	-	(167)	(23)
Loans								-	-	-	(1)	(1)
Mortgage servicing rights								-	(293)	1,139	-	846
Net derivative assets and liabilities:
	Interest rate contracts							-	1	-	(1,958)	(1,957)
	Commodity contracts							(5)	7	-	(6)	(4)
	Equity contracts							(11)	(17)	-	(112)	(140)
	Foreign exchange contracts							-	-	-	11	11
	Credit contracts							(6)	3	-	159	156
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						(22)	(6)	-	(1,906)	(1,934)
Other assets								14	-	-	(24)	(10)
Short sale liabilities								-	(9)	-	-	(9)
Other liabilities (excluding derivatives)								-	8	(208)	-	(200)




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Six months ended June 30, 2013
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	123	(131)	-	-	(8)
	Collateralized loan and other debt obligations							519	(625)	-	(3)	(109)
	Corporate debt securities							66	(107)	-	-	(41)
	Mortgage-backed securities							4	(2)	-	-	2
	Asset-backed securities							12	(27)	-	(21)	(36)
	Equity securities							-	(3)	-	-	(3)
		Total trading securities						724	(895)	-	(24)	(195)
	Other trading assets							-	-	-	-	-
			Total trading assets
				(excluding derivatives)				724	(895)	-	(24)	(195)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						-	(67)	705	(282)	356
	Mortgage-backed securities:
		Residential						-	-	-	(3)	(3)
		Commercial						-	(1)	-	(7)	(8)
			Total mortgage-backed
				securities				-	(1)	-	(10)	(11)
	Corporate debt securities							-	-	-	(23)	(23)
	Collateralized loan and other debt obligations							773	(14)	-	(194)	565
	Asset-backed securities:
		Auto loans and leases						352	-	304	(1,680)	(1,024)
		Home equity loans						-	(5)	-	-	(5)
		Other asset-backed securities						522	(36)	608	(1,453)	(359)
			Total asset-backed securities					874	(41)	912	(3,133)	(1,388)
				Total debt securities				1,647	(123)	1,617	(3,642)	(501)
	Marketable equity securities:
		Perpetual preferred securities						-	(20)	-	(12)	(32)
		Other marketable equity securities						-	-	-	-	-
				Total marketable
					equity securities			-	(20)	-	(12)	(32)
					Total securities
						available for sale		1,647	(143)	1,617	(3,654)	(533)
Mortgages held for sale								203	(572)	-	(306)	(675)
Loans								22	-	232	(155)	99
Mortgage servicing rights								-	(584)	1,995	-	1,411
Net derivative assets and liabilities:
	Interest rate contracts							-	9	-	(246)	(237)
	Commodity contracts							2	(2)	-	(31)	(31)
	Equity contracts							269	(209)	-	158	218
	Foreign exchange contracts							-	-	-	4	4
	Credit contracts							5	(1)	-	360	364
	Other derivative contracts							-	-	-	1	1
		Total derivative contracts						276	(203)	-	246	319
Other assets								557	(1)	-	(23)	533
Short sale liabilities								8	(8)	-	-	-
Other liabilities (excluding derivatives)								-	-	(4)	4	-




(in millions)								Purchases	Sales	Issuances	Settlements	Net
Six months ended June 30, 2012
Trading assets
	(excluding derivatives):
	Securities of U.S. states and
		political subdivisions					$	68	(63)	-	-	5
	Collateralized loan and other debt obligations							371	(698)	-	-	(327)
	Corporate debt securities							151	(190)	-	-	(39)
	Mortgage-backed securities							44	(52)	-	-	(8)
	Asset-backed securities							98	(127)	-	(24)	(53)
	Equity securities							1	(3)	-	-	(2)
		Total trading securities						733	(1,133)	-	(24)	(424)
			Total trading assets
				(excluding derivatives)				733	(1,133)	-	(24)	(424)
Securities available for sale:
	Securities of U.S. states and
		political subdivisions						1,560	(2)	900	(757)	1,701
	Mortgage-backed securities:
		Residential						1	(34)	-	(2)	(35)
		Commercial						10	-	-	(60)	(50)
			Total mortgage-backed
				securities				11	(34)	-	(62)	(85)
	Corporate debt securities							-	-	-	(8)	(8)
	Collateralized loan and other debt obligations							1,215	(185)	-	(744)	286
	Asset-backed securities:
		Auto loans and leases						2,040	-	310	(2,795)	(445)
		Home equity loans						-	(2)	-	(1)	(3)
		Other asset-backed securities						902	(94)	760	(1,397)	171
			Total asset-backed securities					2,942	(96)	1,070	(4,193)	(277)
				Total debt securities				5,728	(317)	1,970	(5,764)	1,617
	Marketable equity securities:
		Perpetual preferred securities						-	-	-	(464)	(464)
		Other marketable equity securities						-	(5)	-	(2)	(7)
				Total marketable
					equity securities			-	(5)	-	(466)	(471)
					Total securities
						available for sale		5,728	(322)	1,970	(6,230)	1,146
Mortgages held for sale								255	-	-	(324)	(69)
Loans								2	-	-	(1)	1
Mortgage servicing rights								-	(293)	2,915	-	2,622
Net derivative assets and liabilities:
	Interest rate contracts							-	-	-	(3,389)	(3,389)
	Commodity contracts							-	-	-	(11)	(11)
	Equity contracts							104	(182)	-	(59)	(137)
	Foreign exchange contracts							-	-	-	6	6
	Credit contracts							(5)	2	-	233	230
	Other derivative contracts							-	-	-	-	-
		Total derivative contracts						99	(180)	-	(3,220)	(3,301)
Other assets								17	-	-	(40)	(23)
Short sale liabilities								-	(9)	-	-	(9)
Other liabilities (excluding derivatives)								(1)	10	(208)	-	(199)

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)
June 30, 2013
Trading and available for sale securities:
	Securities of U.S. states and
	political subdivisions:
		Government, healthcare and
			other revenue bonds	$	3,229		Discounted cash flow	Discount rate	0.4	-	5.4	%	1.4
					68		Vendor priced
		Auction rate securities and other municipal bonds			502		Discounted cash flow	Discount rate	3.2	-	14.3		5.4
								Weighted average life	2.8	-	7.0	yrs	3.3
	Collateralized loan and other debt obligations(2)				1,023		Market comparable pricing	Comparability adjustment	(20.3)	-	22.5	%	1.1
					2,699		Vendor priced
	Asset-backed securities:
		Auto loans and leases			4,872		Discounted cash flow	Default rate	1.6	-	9.0		3.0
								Discount rate	0.5	-	1.2		1.0
								Loss severity	50.0	-	66.3		53.3
								Prepayment rate	0.6	-	1.5		0.8
		Other asset-backed securities:
			Dealer floor plan		1,409		Discounted cash flow	Discount rate	0.6	-	2.2		1.7
			Diversified payment rights (3)		604		Discounted cash flow	Discount rate	1.5	-	3.3		2.4
			Other commercial and consumer		935	(4)	Discounted cash flow	Discount rate	0.0	-	12.9		1.6
								Weighted average life	1.1	-	6.9	yrs	2.2
					109		Vendor priced
	Marketable equity securities: perpetual
	preferred				788	(5)	Discounted cash flow	Discount rate	4.9	-	9.7	%	6.5
								Weighted average life	1.0	-	7.0	yrs	5.5
Mortgages held for sale (residential)					2,641		Discounted cash flow	Default rate	0.6	-	17.9	%	3.3
								Discount rate	3.6	-	7.7		5.6
								Loss severity	1.3	-	33.1		23.2
								Prepayment rate	1.0	-	9.6		5.3
Loans					5,860	(6)	Discounted cash flow	Discount rate	2.4	-	3.6		3.2
								Prepayment rate	1.7	-	40.7		12.0
								Utilization rate	0.0	-	2.0		0.8
Mortgage servicing rights (residential)					14,185		Discounted cash flow	Cost to service per loan (7)	$ 88	-	826		200
								Discount rate	5.6	-	10.8	%	7.6
								Prepayment rate (8)	6.5	-	20.5		11.4
Net derivative assets and (liabilities):
	Interest rate contracts				45		Discounted cash flow	Default rate	0.0	-	15.0		5.0
								Loss severity	50.0	-	57.9		50.0
								Prepayment rate	11.0	-	16.0		16.0
	Interest rate contracts: derivative loan
		commitments			(606)	(9)	Discounted cash flow	Fall-out factor	1.0	-	99.0		17.3
								Initial-value servicing	(5.3)	-	109.7	bps	71.4
	Equity contracts				27		Option model	Correlation factor	18.0	-	87.8	%	73.6
								Volatility factor	10.8	-	68.2		25.1
	Credit contracts				(803)		Market comparable pricing	Comparability adjustment	(31.4)	-	34.2		0.5
					4		Option model	Credit spread	0.1	-	14.0		1.2
								Loss severity	16.5	-	87.5		45.5

Insignificant Level 3 assets,
	net of liabilities				1,232	(10)
		Total level 3 assets, net of liabilities		$	38,823	(11)

Weighted averages are calculated using outstanding unpaid principal balance for cash instruments such as loans and securities, and notional amounts for derivative instruments.
Includes $710 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 $88 - $312.
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.
Total derivative loan commitments were a net liability of $615 million, of which $606 million were classified as level 3 at June 30, 2013.
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 $42.5 billion and total Level 3 liabilities of $3.6 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



				June 30, 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)			$	-	1,552	988	2,540	-	1,509	1,045	2,554
Loans held for sale				-	-	-	-	-	4	-	4
Loans:
	Commercial			-	384	4	388	-	1,507	-	1,507
	Consumer			-	2,932	6	2,938	-	5,889	4	5,893
		Total loans (2)		-	3,316	10	3,326	-	7,396	4	7,400
Other assets (3)				-	382	105	487	-	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



				Six months ended June 30,
(in millions)					2013	2012
Mortgages held for sale (LOCOM)				$	(23)	38
Loans held for sale					-	1
Loans:
	Commercial				(195)	(471)
	Consumer(1)				(1,380)	(2,153)
		Total loans			(1,575)	(2,624)
Other assets (2)					(151)	(179)
			Total	$	(1,749)	(2,764)

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)
June 30, 2013
Residential mortgages held for sale
	(LOCOM)	$	988	(3)	Discounted cash flow	Default rate	(4)	1.3	-	5.5	%	2.8	%
						Discount rate		4.3	-	12.2		11.3
						Loss severity		1.9	-	50.5		5.1
						Prepayment rate	(5)	1.0	-	100.0		66.7
Insignificant level 3 assets			115
	Total		1,103

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 $909 million and $942 million government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitization, at June 30, 2013 and December 31, 2012, respectively and $79 million and $103 million of other mortgage loans which are not government insured/guaranteed at June 30, 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
June 30, 2013
Offshore funds		$	439	-	Daily - Quarterly	1 - 180 days
Funds of funds			-	-	-	-
Hedge funds			4	-	Monthly - Semi Annually	5 - 95 days
Private equity funds			758	196	N/A	N/A
Venture capital funds			80	16	N/A	N/A
	Total	$	1,281	212
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



			June 30, 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	$	35,402	36,098	(696)	(1)	42,305	41,183	1,122	(1)
	Nonaccrual loans		269	473	(204)		309	655	(346)
	Loans 90 days or more past due and still accruing		41	52	(11)		49	64	(15)
Loans held for sale:
	Total loans		2	9	(7)		6	10	(4)
	Nonaccrual loans		2	9	(7)		2	6	(4)
Loans:
	Total loans		6,088	5,706	382		6,206	5,669	537
	Nonaccrual loans		117	118	(1)		89	89	-
Other assets (2)			595	n/a	n/a		-	n/a	n/a
Long-term debt			-	(199)	199	(3)	(1)	(1,157)	1,156	(3)

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.
Consists of nonmarketable equity investments carried at fair value. See Note 6 for more information.
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 June 30,
Mortgages held for sale	$	61	-	-	2,526	-	-
Loans held for sale		-	-	-	-	-	6
Loans		-	-	(107)	-	-	(15)
Other assets		-	-	25	-	-	-
Long-term debt		-	-	-	-	-	(4)
Other interests held		-	(6)	-	-	(15)	(8)

Six months ended June 30,
Mortgages held for sale	$	1,034	-	-	4,321	-	1
Loans held for sale		-	-	-	-	-	19
Loans		-	-	(154)	-	-	27
Other assets		-	-	39	-	-	-
Long-term debt		-	-	-	-	-	(4)
Other interests held		-	(13)	6	-	(24)	15

Fair Value Option, Instrument Specific Credit Risk



			Quarter ended June 30,			Six months ended June 30,
(in millions)				2013	2012	2013	2012
Gains (losses) attributable to instrument-specific credit risk:
	Mortgages held for sale		$	88	(52)	125	(91)
	Loans held for sale			-	6	-	19
		Total	$	88	(46)	125	(72)

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
June 30, 2013

Financial assets
	Cash and due from banks (1)		$	17,939	17,939	-	-	17,939
	Federal funds sold, securities purchased under resale
		agreements and other short-term investments (1)		148,665	3,834	144,831	-	148,665
	Mortgages held for sale (2)			3,383	-	2,395	988	3,383
	Loans held for sale (2)			188	-	181	13	194
	Loans, net (3)			768,071	-	57,917	715,379	773,296
	Nonmarketable equity investments (cost method)			6,519	-	1	8,086	8,087
Financial liabilities
	Deposits			1,021,585	-	971,375	50,682	1,022,057
	Short-term borrowings (1)			56,983	-	56,983	-	56,983
	Long-term debt (4)			123,364	-	114,926	11,033	125,959
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 $11.8 billion and $12.4 billion at June 30, 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 $11 million and $12 million at June 30, 2013 and December 31, 2012, respectively.