FAIR VALUES OF ASSETS AND LIABILITIES (Tables)

v3.19.3

FAIR VALUES OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at September 30, 2019 and December 31, 2018 are summarized below:   Fair Value Measurements at Reporting Date Using   Netting Adjustments (1)   September 30, 2019 (dollar amounts in millions) Level 1   Level 2   Level 3     Assets                   Trading account securities:                   Municipal securities $ —   $ 89   $ —   $ —   $ 89 Other securities 29   —   —   —   29   29   89   —   —   118 Available-for-sale securities:                   U.S. Treasury securities 10   —   —   —   10 Residential CMOs —   6,724   —   —   6,724 Residential MBS —   2,393   —   —   2,393 Commercial MBS —   1,239   —   —   1,239 Other agencies —   117   —   —   117 Municipal securities —   58   3,094   —   3,152 Asset-backed securities —   540   55   —   595 Corporate debt —   52   —   —   52 Other securities/sovereign debt —   4   —   —   4   10   11,127   3,149   —   14,286 Other securities 54   —   —   —   54 Loans held for sale —   963   —   —   963 Loans held for investment —   53   27   —   80 MSRs —   —   8   —   8 Derivative assets —   1,112   11   (546 )   577 Liabilities                   Derivative liabilities —   628   3   (504 )   127   Fair Value Measurements at Reporting Date Using   Netting Adjustments (1)   December 31, 2018 (dollar amounts in millions) Level 1   Level 2   Level 3     Assets                   Trading account securities:                   Municipal securities $ 1   $ 27   $ —   $ —   $ 28 Other securities 77   —   —   —   77   78   27   —   —   105 Available-for-sale securities:                   U.S. Treasury securities 5   —   —   —   5 Residential CMOs —   6,999   —   —   6,999 Residential MBS —   1,255   —   —   1,255 Commercial MBS —   1,583   —   —   1,583 Other agencies —   126   —   —   126 Municipal securities —   275   3,165   —   3,440 Asset-backed securities —   315   —   —   315 Corporate debt —   53   —   —   53 Other securities/sovereign debt —   4   —   —   4   5   10,610   3,165   —   13,780 Other securities 22   —   —   —   22 Loans held for sale —   613   —   —   613 Loans held for investment —   49   30   —   79 MSRs —   —   10   —   10 Derivative assets 21   474   5   (291 )   209 Liabilities                   Derivative liabilities 11   390   3   (217 )   187 (1) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties.
Rollforward of financial instruments measured on a recurring basis and classified as Level 3	Level 3 Fair Value Measurements Three Months Ended September 30, 2019           Available-for-sale securities     (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Asset-backed securities   Loans held for investment Opening balance $ 9   $ 9   $ 3,202   $ —   $ 28 Transfers out of Level 3 (1) —   (20 )   —   —   — Total gains/losses for the period:                   Included in earnings (1 )   19   (1 )   —   — Included in OCI —   —   24   —   — Purchases/originations —   —   28   55   — Sales —   —   —   —   — Repayments —   —   —   —   (1 ) Settlements —   —   (159 )   —   — Closing balance $ 8   $ 8   $ 3,094   $ 55   $ 27 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (1 )   $ (1 )   $ —   $ —   $ — Change in unrealized gains or losses for the period included in other comprehensive income for assets held at the end of the reporting period $ —   $ —   $ 23   $ —   $ —   Level 3 Fair Value Measurements Three Months Ended September 30, 2018           Available-for-sale securities     (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Loans held for investment Opening balance $ 11   $ 1   $ 3,178   $ 34 Transfers out of Level 3 (1) —   (12 )   —   — Total gains/losses for the period:               Included in earnings —   9   (1 )   — Included in OCI —   —   —   — Purchases/originations —   —   260   — Sales —   —   —   — Repayments —   —   —   (2 ) Settlements —   3   (160 )   — Closing balance $ 11   $ 1   $ 3,277   $ 32 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ —   $ (3 )   $ —   $ —
Classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities	The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the three-month and nine-month periods ended September 30, 2019 and 2018:   Level 3 Fair Value Measurements Three Months Ended September 30, 2019           Available-for-sale securities (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities Classification of gains and losses in earnings:           Mortgage banking income $ (1 )   $ 19   $ — Interest and fee income —   —   (1 ) Total $ (1 )   $ 19   $ (1 )   Level 3 Fair Value Measurements Three Months Ended September 30, 2018           Available-for-sale securities (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities Classification of gains and losses in earnings:           Mortgage banking income $ —   $ 9   $ — Other expense —   —   (1 ) Total $ —   $ 9   $ (1 )   Level 3 Fair Value Measurements Nine Months Ended September 30, 2019           Available-for-sale securities (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities Classification of gains and losses in earnings:           Mortgage banking income $ (2 )   $ 50   $ — Interest and fee income —   —   (1 ) Total $ (2 )   $ 50   $ (1 )   Level 3 Fair Value Measurements Nine Months Ended September 30, 2018           Available-for-sale securities (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Asset-backed securities Classification of gains and losses in earnings:               Mortgage banking income $ —   $ 25   $ —   $ — Securities gains (losses) —   —   —   (2 ) Other expense —   —   (3 )   — Total $ —   $ 25   $ (3 )   $ (2 )
Assets and liabilities under the fair value option	The following tables present the fair value and aggregate principal balance of certain assets and liabilities under the fair value option:   September 30, 2019 (dollar amounts in millions) Total Loans   Loans that are 90 or more days past due Assets Fair value carrying amount   Aggregate unpaid principal   Difference   Fair value carrying amount   Aggregate unpaid principal   Difference Loans held for sale $ 963   $ 932   $ 31   $ 1   $ 1   $ — Loans held for investment 80   86   (6 )   4   6   (2 )   December 31, 2018 (dollar amounts in millions) Total Loans   Loans that are 90 or more days past due Assets Fair value carrying amount   Aggregate unpaid principal   Difference   Fair value carrying amount   Aggregate unpaid principal   Difference Loans held for sale $ 613   $ 594   $ 19   $ —   $ —   $ — Loans held for investment 79   87   (8 )   6   7   (1 ) The following tables present the net gains (losses) from fair value changes for the three-month and nine-month periods ended September 30, 2019 and 2018.     Net gains (losses) from fair value changes   Net gains (losses) from fair value changes (dollar amounts in millions)   Three Months Ended September 30,   Nine Months Ended September 30, Assets   2019   2018   2019   2018 Loans held for sale (1)   $ 6   $ (4 )   $ 12   $ (1 ) (1) The net gains (losses) from fair value changes are included in Mortgage banking income on the Unaudited Condensed Consolidated Statements of Income.
Assets measured at fair value on a nonrecurring basis	The amounts measured at fair value on a nonrecurring basis at September 30, 2019 were as follows:       Fair Value Measurements Using     (dollar amounts in millions) Fair Value   Quoted Prices In Active Markets for Identical Assets (Level 1)   Significant Other Observable Inputs (Level 2)   Significant Other Unobservable Inputs (Level 3)   Total Gains/(Losses) Nine Months Ended September 30, 2019 MSRs $ 172   $ —   $ —   $ 172   $ (38 ) Impaired loans 20   —   —   20   (1 ) Loans held for sale 36   —   —   36   (13 )
Quantitative information about significant unobservable level 3 fair value measurement inputs	Quantitative Information about Level 3 Fair Value Measurements at September 30, 2019 (dollar amounts in millions) Fair Value   Valuation Technique   Significant Unobservable Input   Range   Weighted Average Measured at fair value on a recurring basis: MSRs $ 8   Discounted cash flow   Constant prepayment rate   0  % - 25 %   9 %           Spread over forward interest rate swap rates   5  % - 11 %   8 % Derivative assets 11   Consensus Pricing   Net market price   (2 )% - 14 %   2 %           Estimated Pull through %   1  % - 100 %   90 % Derivative liabilities 3   Discounted cash flow   Estimated conversion factor           162 %           Estimated growth rate of Visa Class A shares           7 %            Discount rate           2 %           Timing of the resolution of the litigation           6/30/2020 Municipal securities 3,094   Discounted cash flow   Discount rate   2  % - 3 %   2 % Asset-backed securities 55       Cumulative default   0  % - 64 %   4 %           Loss given default   5  % - 80 %   24 % Loans held for investment 27   Discounted cash flow   Discount rate   6  % - 6 %   6 %           Constant prepayment rate   9  % - 12 %   9 % Measured at fair value on a nonrecurring basis: MSRs 172   Discounted cash flow   Constant prepayment rate   12  %   33 %   16 %           Spread over forward interest rate swap rates   5  %   11 %   9 % Impaired loans 20   Appraisal value   NA           NA Loans held for sale 36   Appraisal value   NA           NA   Quantitative Information about Level 3 Fair Value Measurements at December 31, 2018 (dollar amounts in millions) Fair Value   Valuation Technique   Significant Unobservable Input   Range   Weighted Average Measured at fair value on a recurring basis:         MSRs $ 10   Discounted cash flow   Constant prepayment rate   6  % - 54 %   8 %           Spread over forward interest rate swap rates   5  % - 11 %   8 % Derivative assets 5   Consensus Pricing   Net market price   (5 )% - 23 %   2 %           Estimated Pull through %   1  % - 100 %   92 % Derivative liabilities 3   Discounted cash flow   Estimated conversion factor           163 %           Estimated growth rate of Visa Class A shares           7 %            Discount rate           4 %           Timing of the resolution of the litigation           6/30/2020 Municipal securities 3,165   Discounted cash flow   Discount rate   4  % - 4 %   4 %           Cumulative default   0  % - 39 %   3 %           Loss given default   5  % - 90 %   25 % Loans held for investment 30   Discounted cash flow   Discount rate   7  % - 9 %   9 %           Constant prepayment rate   9  % - 9 %   9 % Measured at fair value on a nonrecurring basis:         Impaired loans 33   Appraisal value   NA           NA Loans held for sale 121   Discounted cash flow   Discount rate   5  % - 6 %   5 %   24   Appraisal value   NA           NA
Carrying amounts and estimated fair values of financial instruments	The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments at September 30, 2019 and December 31, 2018:   September 30, 2019 (dollar amounts in millions) Amortized Cost   Lower of Cost or Market   Fair Value or Fair Value Option   Total Carrying Amount   Estimated Fair Value Financial Assets                   Cash and short-term assets $ 1,758   $ —   $ —   $ 1,758   $ 1,758 Trading account securities —   —   118   118   118 Available-for-sale securities —   —   14,286   14,286   14,286 Held-to-maturity securities 8,430   —   —   8,430   8,584 Other securities 401   —   54   455   455 Loans held for sale —   101   963   1,064   1,067 Net loans and leases (1) 74,029   —   80   74,109   75,234 Derivatives —   —   577   577   577 Financial Liabilities                   Deposits 82,395   —   —   82,395   82,398 Short-term borrowings 2,173   —   —   2,173   2,173 Long-term debt 9,874   —   —   9,874   10,075 Derivatives —   —   127   127   127   December 31, 2018 (dollar amounts in millions) Amortized Cost   Lower of Cost or Market   Fair Value or Fair Value Option   Total Carrying Amount   Estimated Fair Value Financial Assets                   Cash and short-term assets $ 2,725   $ —   $ —   $ 2,725   $ 2,725 Trading account securities —   —   105   105   105 Available-for-sale securities —   —   13,780   13,780   13,780 Held-to-maturity securities 8,565   —   —   8,565   8,286 Other securities 543   —   22   565   565 Loans held for sale —   191   613   804   806 Net loans and leases (1) 74,049   —   79   74,128   73,668 Derivatives —   —   209   209   209 Financial Liabilities                   Deposits 84,774   —   —   84,774   84,731 Short-term borrowings 2,017   —   —   2,017   2,017 Long-term debt 8,625   —   —   8,625   8,718 Derivatives —   —   187   187   187 (1) Includes collateral-dependent loans measured for impairment. The following table presents the level in the fair value hierarchy for the estimated fair values at September 30, 2019 and December 31, 2018:   Estimated Fair Value Measurements at Reporting Date Using   September 30, 2019 (dollar amounts in millions) Level 1   Level 2   Level 3   Financial Assets               Trading account securities $ 29   $ 89   $ —   $ 118 Available-for-sale securities 10   11,127   3,149   14,286 Held-to-maturity securities —   8,584   —   8,584 Other securities (1) 54   —   —   54 Loans held for sale —   963   104   1,067 Net loans and direct financing leases —   80   75,154   75,234 Financial Liabilities               Deposits —   75,707   6,691   82,398 Short-term borrowings —   —   2,173   2,173 Long-term debt —   9,435   640   10,075   Estimated Fair Value Measurements at Reporting Date Using   December 31, 2018 (dollar amounts in millions) Level 1   Level 2   Level 3   Financial Assets               Trading account securities $ 78   $ 27   $ —   $ 105 Available-for-sale securities 5   10,610   3,165   13,780 Held-to-maturity securities —   8,286   —   8,286 Other securities (1) 22   —   —   22 Loans held for sale —   613   193   806 Net loans and direct financing leases —   49   73,619   73,668 Financial Liabilities         Deposits —   76,922   7,809   84,731 Short-term borrowings 1   —   2,016   2,017 Long-term debt —   8,158   560   8,718