Investment Securities (Tables)

12 Months Ended

Dec. 31, 2018

AFS and HTM Securities

	At December 31, 2018
$ in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
AFS securities
U.S. government and agency
securities:
U.S. Treasury securities	$	36,268	$	40	$	656	$	35,652
U.S. agency securities¹		20,740		10		497		20,253
Total U.S. government and
agency securities		57,008		50		1,153		55,905
Corporate and other debt:
Agency CMBS		1,054		—		62		992
Non-agency CMBS		461		—		14		447
Corporate bonds		1,585		—		32		1,553
State and municipal securities		200		2		—		202
FFELP student loan ABS²		1,967		10		15		1,962
Total corporate and other debt		5,267		12		123		5,156
Total AFS securities		62,275		62		1,276		61,061
HTM securities
U.S. government and agency
securities:
U.S. Treasury securities		17,832		44		403		17,473
U.S. agency securities¹		12,456		8		446		12,018
Total U.S. government and
agency securities		30,288		52		849		29,491
Corporate and other debt:
Non-agency CMBS		483		—		9		474
Total HTM securities		30,771		52		858		29,965
Total investment securities	$	93,046	$	114	$	2,134	$	91,026

		At December 31, 2017
$ in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
AFS debt securities
U.S. government and agency
securities:
U.S. Treasury securities	$	26,842	$	—	$	589	$	26,253
U.S. agency securities¹		22,803		28		247		22,584
Total U.S. government and
agency securities		49,645		28		836		48,837
Corporate and other debt:
Agency CMBS		1,370		2		49		1,323
Non-agency CMBS		1,102		—		8		1,094
Corporate bonds		1,379		5		12		1,372
CLO		398		1		—		399
FFELP student loan ABS²		2,165		15		7		2,173
Total corporate and other debt		6,414		23		76		6,361
Total AFS debt securities		56,059		51		912		55,198
AFS equity securities		15		—		10		5
Total AFS securities		56,074		51		922		55,203
HTM securities
U.S. government and agency
securities:
U.S. Treasury securities		11,424		—		305		11,119
U.S. agency securities¹		11,886		7		220		11,673
Total U.S. government and
agency securities		23,310		7		525		22,792
Corporate and other debt:
Non-agency CMBS		289		1		1		289
Total HTM securities		23,599		8		526		23,081
Total investment securities	$	79,673	$	59	$	1,448	$	78,284

1. U.S. agency securities consist mainly of agency-issued debt, agency mortgage pass-through pool securities and CMOs.

2. Underlying loans are backed by a guarantee, ultimately from the U.S. Department of Education, of at least 95% of the principal balance and interest outstanding.

Schedule of Investment Securities in an Unrealized Loss Position

Investment Securities in an Unrealized Loss Position

	At December 31, 2018
	Less than 12 Months				12 Months or Longer				Total
$ in millions	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
AFS securities
U.S. government and agency securities:
U.S. Treasury securities	$	19,937	$	541	$	5,994	$	115	$	25,931	$	656
U.S. agency securities		12,904		383		4,142		114		17,046		497
Total U.S. government and agency securities		32,841		924		10,136		229		42,977		1,153
Corporate and other debt:
Agency CMBS		808		62		—		—		808		62
Non-agency CMBS		—		—		446		14		446		14
Corporate bonds		470		7		1,010		25		1,480		32
FFELP student loan ABS		1,366		15		—		—		1,366		15
Total corporate and other debt		2,644		84		1,456		39		4,100		123
Total AFS securities		35,485		1,008		11,592		268		47,077		1,276
HTM securities
U.S. government and agency securities:
U.S. Treasury securities		—		—		11,161		403		11,161		403
U.S. agency securities		410		1		10,004		445		10,414		446
Total U.S. government and agency securities		410		1		21,165		848		21,575		849
Corporate and other debt:
Non-agency CMBS		206		1		216		8		422		9
Total HTM securities		616		2		21,381		856		21,997		858
Total investment securities	$	36,101	$	1,010	$	32,973	$	1,124	$	69,074	$	2,134

	At December 31, 2017
	Less than 12 Months				12 Months or Longer				Total
$ in millions	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
AFS debt securities
U.S. government and agency securities:
U.S. Treasury securities	$	21,941	$	495	$	4,287	$	94	$	26,228	$	589
U.S. agency securities		12,673		192		2,513		55		15,186		247
Total U.S. government and agency securities		34,614		687		6,800		149		41,414		836
Corporate and other debt:
Agency CMBS		930		49		—		—		930		49
Non-agency CMBS		257		1		559		7		816		8
Corporate bonds		316		3		389		9		705		12
FFELP student loan ABS		984		7		—		—		984		7
Total corporate and other debt		2,487		60		948		16		3,435		76
Total AFS debt securities		37,101		747		7,748		165		44,849		912
AFS equity securities		—		—		5		10		5		10
Total AFS securities		37,101		747		7,753		175		44,854		922
HTM securities
U.S. government and agency securities:
U.S. Treasury securities		6,608		86		4,512		219		11,120		305
U.S. agency securities		2,879		24		7,298		196		10,177		220
Total U.S. government and agency securities		9,487		110		11,810		415		21,297		525
Corporate and other debt:
Non-agency CMBS		124		1		—		—		124		1
Total HTM securities		9,611		111		11,810		415		21,421		526
Total investment securities	$	46,712	$	858	$	19,563	$	590	$	66,275	$	1,448

Schedule of Investment Securities by Contractual Maturity

Investment Securities by Contractual Maturity

		At December 31, 2018
$ in millions		Amortized Cost		Fair Value	Annualized Average Yield
AFS securities
U.S. government and agency securities:
U.S. Treasury securities:
Due within 1 year	$	4,419	$	4,387	1.6%
After 1 year through 5 years		28,607		28,179	2.0%
After 5 years through 10 years		3,242		3,086	1.9%
Total		36,268		35,652
U.S. agency securities:
Due within 1 year		434		431	1.0%
After 1 year through 5 years		796		784	1.2%
After 5 years through 10 years		1,635		1,583	1.8%
After 10 years		17,875		17,455	2.2%
Total		20,740		20,253
Total U.S. government and agency
securities		57,008		55,905	2.0%
Corporate and other debt:
Agency CMBS:
After 1 year through 5 years		283		281	1.4%
After 5 years through 10 years		21		20	1.2%
After 10 years		750		691	1.6%
Total		1,054		992
Non-agency CMBS:
After 1 year through 5 years		36		34	2.5%
After 10 years		425		413	2.4%
Total		461		447
Corporate bonds:
Due within 1 year		70		70	1.7%
After 1 year through 5 years		1,365		1,335	2.5%
After 5 years through 10 years		150		148	3.3%
Total		1,585		1,553
State and municipal securities:
After 5 years through 10 years		200		202	3.7%
Total		200		202
FFELP student loan ABS:
After 1 year through 5 years		81		80	0.8%
After 5 years through 10 years		307		303	0.8%
After 10 years		1,579		1,579	1.2%
Total		1,967		1,962
Total corporate and other debt		5,267		5,156	1.8%
Total AFS securities		62,275		61,061	2.0%


		At December 31, 2018
$ in millions		Amortized Cost		Fair Value	Annualized Average Yield
HTM securities
U.S. government securities:
U.S. Treasury securities:
Due within 1 year	$	1,875	$	1,870	1.2%
After 1 year through 5 years		7,478		7,435	2.3%
After 5 years through 10 years		7,753		7,536	2.2%
After 10 years		726		632	2.3%
Total		17,832		17,473
U.S. agency securities:
After 5 years through 10 years		30		29	1.9%
After 10 years		12,426		11,989	2.7%
Total		12,456		12,018
Total U.S. government and agency
securities		30,288		29,491	2.4%
Corporate and other debt:
Non-agency CMBS:
Due within 1 year		65		65	3.5%
After 1 year through 5 years		70		69	4.4%
After 5 years through 10 years		302		294	4.0%
After 10 years		46		46	4.4%
Total corporate and other debt		483		474	4.1%
Total HTM securities		30,771		29,965	2.4%
Total investment securities	$	93,046	$	91,026	2.1%

Schedule of Gross Realized Gains and Losses on Sales of AFS Securities

Gross Realized Gains (Losses) on Sales of AFS Securities

$ in millions		2018		2017		2016
Gross realized gains	$	12	$	46	$	133
Gross realized (losses)		(4)		(11)		(21)
Total¹	$	8	$	35	$	112

1. Realized gains and losses are recognized in Other revenues in the income statements.