Annual report pursuant to Section 13 and 15(d)

HELD-TO-MATURITY SECURITIES (Tables)

v3.8.0.1
HELD-TO-MATURITY SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2017
Held-to-maturity Securities [Abstract]  
Contractual maturities of held-to-maturity securities
Listed below are the contractual maturities of held-to-maturity securities at December 31, 2017 and December 31, 2016:
 
December 31, 2017
 
December 31, 2016
(dollar amounts in millions)
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Federal agencies:
 
 
 
 
 
 
 
Residential CMO:
 
 
 
 
 
 
 
1 year or less
$
—

 
$
—

 
$
—

 
$
—

After 1 year through 5 years
—

 
—

 
—

 
—

After 5 years through 10 years
—

 
—

 
—

 
—

After 10 years
3,714

 
3,657

 
4,189

 
4,163

Total Residential CMO
3,714

 
3,657

 
4,189

 
4,163

Residential MBS:
 
 
 
 
 
 
 
1 year or less
$
—

 
$
—

 
$
—

 
$
—

After 1 year through 5 years
—

 
—

 
—

 
—

After 5 years through 10 years
28

 
28

 
15

 
15

After 10 years
1,021

 
1,016

 
83

 
86

Total Residential MBS
1,049

 
1,044

 
98

 
101

Commercial MBS:
 
 
 
 
 
 
 
1 year or less
$
—

 
$
—

 
$
—

 
$
—

After 1 year through 5 years
38

 
37

 
—

 
—

After 5 years through 10 years
1

 
1

 
26

 
25

After 10 years
3,752

 
3,698

 
2,885

 
2,891

Total Commercial MBS
3,791

 
3,736

 
2,911

 
2,916

Other agencies:
 
 
 
 
 
 
 
1 year or less
—

 
—

 
—

 
—

After 1 year through 5 years
7

 
8

 
—

 
—

After 5 years through 10 years
362

 
360

 
399

 
399

After 10 years
163

 
161

 
204

 
202

Total other agencies
532

 
529

 
603

 
601

Total Federal agencies and other agencies
9,086

 
8,966

 
7,801

 
7,781

Municipal securities:
 
 
 
 
 
 
 
1 year or less
—

 
—

 
—

 
—

After 1 year through 5 years
—

 
—

 
—

 
—

After 5 years through 10 years
—

 
—

 
—

 
—

After 10 years
5

 
5

 
6

 
6

Total Municipal securities
5

 
5

 
6

 
6

Total held-to-maturity securities
$
9,091

 
$
8,971

 
$
7,807

 
$
7,787

Amortized cost, gross unrealized gains and losses, and fair value by investment category
The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at December 31, 2017 and 2016: 
 
 
 
Unrealized
 
 
(dollar amounts in millions)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
December 31, 2017
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
Residential CMO
$
3,714

 
$
1

 
$
(58
)
 
$
3,657

Residential MBS
1,049

 
2

 
(7
)
 
1,044

Commercial MBS
3,791

 
—

 
(55
)
 
3,736

Other agencies
532

 
1

 
(4
)
 
529

Total Federal agencies and other agencies
9,086

 
4

 
(124
)
 
8,966

Municipal securities
5

 
—

 
—

 
5

Total held-to-maturity securities
$
9,091

 
$
4

 
$
(124
)
 
$
8,971

 
 
 
Unrealized
 
 
(dollar amounts in millions)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
December 31, 2016
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
Residential CMO
$
4,189

 
$
7

 
$
(33
)
 
$
4,163

Residential MBS
98

 
3

 
—

 
101

Commercial MBS
2,911

 
10

 
(5
)
 
2,916

Other agencies
603

 
2

 
(4
)
 
601

Total Federal agencies and other agencies
7,801

 
22

 
(42
)
 
7,781

Municipal securities
6

 
—

 
—

 
6

Total held-to-maturity securities
$
7,807

 
$
22

 
$
(42
)
 
$
7,787

Investment securities in an unrealized loss position
The following tables provide detail on HTM securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position at December 31, 2017 and 2016:
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in millions)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
 
 
 
 
Residential CMO
$
2,369

 
$
(26
)
 
$
1,019

 
$
(32
)
 
$
3,388

 
$
(58
)
Residential MBS
974

 
(7
)
 
—

 
—

 
974

 
(7
)
Commercial MBS
3,456

 
(49
)
 
253

 
(6
)
 
3,709

 
(55
)
Other agencies
249

 
(2
)
 
139

 
(2
)
 
388

 
(4
)
Total Federal agencies and other agencies
7,048

 
(84
)
 
1,411

 
(40
)
 
8,459

 
(124
)
Municipal securities
—

 
—

 
5

 
—

 
5

 
—

Total temporarily impaired securities
$
7,048

 
$
(84
)
 
$
1,416

 
$
(40
)
 
$
8,464

 
$
(124
)
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in millions)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
 
 
 
 
Residential CMO
$
2,483

 
$
(26
)
 
$
186

 
$
(7
)
 
$
2,669

 
$
(33
)
Residential MBS
20

 
—

 
—

 
—

 
20

 
—

Commercial MBS
352

 
(5
)
 
—

 
—

 
352

 
(5
)
Other agencies
414

 
(4
)
 
—

 
—

 
414

 
(4
)
Total Federal agencies and other agencies
3,269

 
(35
)
 
186

 
(7
)
 
3,455

 
(42
)
Municipal securities
6

 
—

 
—

 
—

 
6

 
—

Total temporarily impaired securities
$
3,275

 
$
(35
)
 
$
186

 
$
(7
)
 
$
3,461

 
$
(42
)