FAIR VALUES OF ASSETS AND LIABILITIES (Tables)

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FAIR VALUES OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 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 at December 31, 2019 and 2018 are summarized below:   Fair Value Measurements at Reporting Date Using   Netting Adjustments (1)   December 31, 2019 (dollar amounts in millions) Level 1   Level 2   Level 3     Assets                   Trading account securities:                   Federal agencies: Other agencies $ —   $ 4   $ —   $ —   $ 4 Municipal securities —   63   —   —   63 Other securities 30   2   —   —   32   30   69   —   —   99 Available-for-sale securities:                   U.S. Treasury securities 10   —   —   —   10 Residential CMOs —   5,085   —   —   5,085 Residential MBS —   4,222   —   —   4,222 Commercial MBS —   976   —   —   976 Other agencies —   165   —   —   165 Municipal securities —   56   2,999   —   3,055 Private-label CMO —   —   2   —   2 Asset-backed securities —   531   48   —   579 Corporate debt —   51   —   —   51 Other securities/Sovereign debt —   4   —   —   4   10   11,090   3,049   —   14,149                     Other securities 54   —   —   —   54 Loans held for sale —   781   —   —   781 Loans held for investment —   55   26   —   81 MSRs —   —   7   —   7 Derivative assets —   848   8   (404 )   452 Liabilities                   Derivative liabilities —   519   2   (417 )   104   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.
Roll forward of derivatives measured on a recurring basis and classified as Level 3	The tables below present a rollforward of the balance sheet amounts for the years ended December 31, 2019, 2018, and 2017 for financial instruments measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. However, Level 3 measurements may also include observable components of value that can be validated externally. Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology.   Level 3 Fair Value Measurements Year Ended December 31, 2019           Available-for-sale securities     (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Private- label CMO   Asset- backed securities   Loans held for investment Opening balance $ 10   $ 2   $ 3,165       $ —   $ 30 Transfers out of Level 3 (1) —   (62 )   —       —   — Total gains/losses for the period:                       Included in earnings (3 )   66   (1 )       —   1 Included in OCI —   —   77       —   — Purchases/originations —   —   254   2   55   — Sales —   —   —       —   — Repayments —   —   —       —   (5 ) Settlements —   —   (496 )       (7 )   — Closing balance $ 7   $ 6   $ 2,999   $ 2   $ 48   $ 26 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (3 )   $ 3   $ —   $ —   $ —   $ — Change in unrealized gains or losses for the period included in other comprehensive income for assets held at the end of the reporting period $ —   $ —   $ 74   $ —   $ —   $ —   Level 3 Fair Value Measurements Year Ended December 31, 2018           Available-for-sale securities   Loans held for investment (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Asset- backed securities   Opening balance $ 11   $ (1 )   $ 3,167   $ 24   $ 38 Transfers out of Level 3 (1) —   (35 )   —   —   — Total gains/losses for the period:                   Included in earnings (1 )   35   (3 )   (2 )   — Included in OCI —   —   (52 )   11   — Purchases/originations —   —   658   —   — Sales —   —   —   (33 )   — Repayments —   —   —   —   (8 ) Settlements —   3   (605 )   —   — Closing balance $ 10   $ 2   $ 3,165   $ —   $ 30 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (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 $ —   $ —   $ (52 )   $ —   $ —   Level 3 Fair Value Measurements Year Ended December 31, 2017           Available-for-sale securities   Loans held for investment (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Asset- backed securities   Opening balance $ 14   $ (2 )   $ 2,798   $ 76   $ 48 Transfers out of Level 3 (1) —   (15 )   —   —   — Total gains/losses for the period:                   Included in earnings (3 )   16   (2 )   (5 )   1 Included in OCI —   —   (8 )   14   — Purchases/originations —   —   787   —   — Sales —   —   —   (60 )   — Repayments —   —   —   —   (11 ) Settlements —   —   (408 )   (1 )   — Closing balance $ 11   $ (1 )   $ 3,167   $ 24   $ 38 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (3 )   $ —   $ —   $ (4 )   $ — (1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that are transferred to loans held for sale, which is classified as Level 2.
Roll forward of assets measured on a recurring basis and classified as Level 3	Level 3 Fair Value Measurements Year Ended December 31, 2019           Available-for-sale securities     (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Private- label CMO   Asset- backed securities   Loans held for investment Opening balance $ 10   $ 2   $ 3,165       $ —   $ 30 Transfers out of Level 3 (1) —   (62 )   —       —   — Total gains/losses for the period:                       Included in earnings (3 )   66   (1 )       —   1 Included in OCI —   —   77       —   — Purchases/originations —   —   254   2   55   — Sales —   —   —       —   — Repayments —   —   —       —   (5 ) Settlements —   —   (496 )       (7 )   — Closing balance $ 7   $ 6   $ 2,999   $ 2   $ 48   $ 26 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (3 )   $ 3   $ —   $ —   $ —   $ — Change in unrealized gains or losses for the period included in other comprehensive income for assets held at the end of the reporting period $ —   $ —   $ 74   $ —   $ —   $ —   Level 3 Fair Value Measurements Year Ended December 31, 2018           Available-for-sale securities   Loans held for investment (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Asset- backed securities   Opening balance $ 11   $ (1 )   $ 3,167   $ 24   $ 38 Transfers out of Level 3 (1) —   (35 )   —   —   — Total gains/losses for the period:                   Included in earnings (1 )   35   (3 )   (2 )   — Included in OCI —   —   (52 )   11   — Purchases/originations —   —   658   —   — Sales —   —   —   (33 )   — Repayments —   —   —   —   (8 ) Settlements —   3   (605 )   —   — Closing balance $ 10   $ 2   $ 3,165   $ —   $ 30 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (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 $ —   $ —   $ (52 )   $ —   $ —   Level 3 Fair Value Measurements Year Ended December 31, 2017           Available-for-sale securities   Loans held for investment (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Asset- backed securities   Opening balance $ 14   $ (2 )   $ 2,798   $ 76   $ 48 Transfers out of Level 3 (1) —   (15 )   —   —   — Total gains/losses for the period:                   Included in earnings (3 )   16   (2 )   (5 )   1 Included in OCI —   —   (8 )   14   — Purchases/originations —   —   787   —   — Sales —   —   —   (60 )   — Repayments —   —   —   —   (11 ) Settlements —   —   (408 )   (1 )   — Closing balance $ 11   $ (1 )   $ 3,167   $ 24   $ 38 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (3 )   $ —   $ —   $ (4 )   $ — (1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that are transferred to loans held for sale, which is classified as Level 2.
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 years ended December 31, 2019, 2018, and 2017:   Level 3 Fair Value Measurements Year Ended December 31, 2019           Available-for-sale securities   Loans held for investment (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Classification of gains and losses in earnings:               Mortgage banking income $ (3 )   $ 66   $ —   $ — Interest and fee income —   —   (1 )   1 Total $ (3 )   $ 66   $ (1 )   $ 1   Level 3 Fair Value Measurements Year Ended December 31, 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 $ (1 )   $ 35   $ —   $ — Securities gains (losses) —   —   —   (2 ) Interest and fee income —   —   (3 )   — Total $ (1 )   $ 35   $ (3 )   $ (2 )   Level 3 Fair Value Measurements Year Ended December 31, 2017           Available-for-sale securities     (dollar amounts in millions) MSRs   Derivative instruments   Municipal securities   Asset- backed securities   Loans held for investment Classification of gains and losses in earnings:                   Mortgage banking income (loss) $ (3 )   $ 16   $ —   $ —   $ — Securities gains (losses) —   —   —   (5 )   — Interest and fee income —   —   (2 )   —   — Noninterest income —   —   —   —   1 Total $ (3 )   $ 16   $ (2 )   $ (5 )   $ 1
Assets and liabilities under the fair value option	The following tables presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option:   December 31, 2019   Total Loans   Loans that are 90 or more days past due (dollar amounts in millions) Fair value carrying amount   Aggregate unpaid principal   Difference   Fair value carrying amount   Aggregate unpaid principal   Difference Assets                       Loans held for sale $ 781   $ 755   $ 26   $ 2   $ 2   $ — Loans held for investment 81   87   (6 )   3   4   (1 )   December 31, 2018   Total Loans   Loans that are 90 or more days past due (dollar amounts in millions) Fair value carrying amount   Aggregate unpaid principal   Difference   Fair value carrying amount   Aggregate unpaid principal   Difference Assets                       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 years ended December 31, 2019, 2018, and 2017:    Net gains (losses) from fair value changes Year Ended December 31, (dollar amounts in millions) 2019   2018   2017 Assets           Loans held for sale $ 7   $ 5   $ 8 Loans held for investment 1   —   —
Assets measured at fair value on a nonrecurring basis	at fair value on a nonrecurring basis at December 31, 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) Year Ended December 31, 2019 MSRs $ 206   $ —   $ —   $ 206   $ (14 ) Impaired loans 26   —   —   26   (1 )
Quantitative information about significant unobservable level 3 fair value measurement inputs	The table below presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at December 31, 2019 and 2018:   Quantitative Information about Level 3 Fair Value Measurements at December 31, 2019 (dollar amounts in millions) Fair Value   Valuation Technique   Significant Unobservable Input   Range   Weighted  Average Measured at fair value on a recurring basis:                 MSRs $ 7   Discounted cash flow   Constant prepayment rate   —  % - 26 %   8 %           Spread over forward interest rate swap rates   5  % - 11 %   8 % Derivative assets 8   Consensus Pricing   Net market price   (2 )% - 11 %   2 %           Estimated Pull through %   2  % - 100 %   91 % Derivative liabilities 2   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 2,999   Discounted cash flow   Discount rate   2  % - 3 %   2 % Asset-backed securities 48       Cumulative default   —  % - 39 %   4 %           Loss given default   5  % - 80 %   24 % Loans held for investment 26   Discounted cash flow   Discount rate   5  % - 6 %   5 %           Constant prepayment rate   9  % - 12 %   9 % Measured at fair value on a nonrecurring basis:                 MSRs 206   Discounted cash flow   Constant prepayment rate   10  %   31 %   12 %           Spread over forward interest rate swap rates   5  %   11 %   9 % Impaired loans 26   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   —  % - 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
Fair value by balance sheet grouping	The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments at December 31, 2019 and December 31, 2018:   December 31, 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 $ 1,272   $ —   $ —   $ 1,272   $ 1,272 Trading account securities —   —   99   99   99 Available-for-sale securities —   —   14,149   14,149   14,149 Held-to-maturity securities 9,070   —   —   9,070   9,186 Other securities 387   —   54   441   441 Loans held for sale —   96   781   877   879 Net loans and leases (1) 74,540   —   81   74,621   75,177 Derivatives —   —   452   452   452 Financial Liabilities                   Deposits 82,347   —   —   82,347   82,344 Short-term borrowings 2,606   —   —   2,606   2,606 Long-term debt 9,849   —   —   9,849   10,075 Derivatives —   —   104   104   104   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 December 31, 2019 and December 31, 2018:   Estimated Fair Value Measurements at Reporting Date Using   December 31, 2019 (dollar amounts in millions) Level 1   Level 2   Level 3   Financial Assets               Trading account securities $ 30   $ 69   $ —   $ 99 Available-for-sale securities 10   11,090   3,049   14,149 Held-to-maturity securities —   9,186   —   9,186 Other securities (1) 54   —   —   54 Loans held for sale —   781   98   879 Net loans and direct financing leases —   55   75,122   75,177 Financial Liabilities               Deposits —   76,790   5,554   82,344 Short-term borrowings —   —   2,606   2,606 Long-term debt —   9,439   636   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 (1) Excludes securities without readily determinable fair values.