Assets and Liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis at June 30, 2011, December 31, 2010, and June 30, 2010 are summarized below:

		Fair Value Measurements at Reporting Date Using												Netting				Balance at
(dollar amounts in thousands)		Level 1				Level 2				Level 3				Adjustments (1)				June 30, 2011
Assets
Mortgage loans held for sale		$	—			$	222,880			$	—			$	—			$	222,880
Trading account securities:
U.S. Treasury securities			—				—				—				—				—
Federal agencies: Mortgage-backed			—				7,917				—				—				7,917
Federal agencies: Other agencies			—				—				—				—				—
Municipal securities			—				35,719				—				—				35,719
Other securities			53,039				2,096				—				—				55,135
			53,039				45,732				—				—				98,771
Available-for-sale and other securities:
U.S. Treasury securities			52,301				—				—				—				52,301
Federal agencies: Mortgage-backed (2)			—				3,922,705				—				—				3,922,705
TLGP securities			—				156,303				—				—				156,303
Federal agencies: Other agencies (2)			—				1,222,274				—				—				1,222,274
Municipal securities			—				308,896				123,800				—				432,696
Private-label CMO			—				—				88,770				—				88,770
Asset-backed securities			—				683,788				165,742				—				849,530
Covered bonds			—				600,055				—				—				600,055
Corporate debt			—				407,969				—				—				407,969
Other securities			53,520				9,932				—				—				63,452
			105,821				7,311,922				378,312				—				7,796,055
Automobile loans			—				—				400,935				—				400,935
MSRs			—				—				104,997				—				104,997
Derivative assets			4,373				377,969				2,102				(77,904	)			306,540

		Fair Value Measurements at Reporting Date Using												Netting				Balance at
(dollar amounts in thousands)		Level 1				Level 2				Level 3				Adjustments (1)				December 31, 2010
Assets
Mortgage loans held for sale		$	—			$	754,117			$	—			$	—			$	754,117
Trading account securities:
U.S. Treasury securities			47,430				—				—				—				47,430
Federal agencies: Mortgage-backed			—				10,860				—				—				10,860
Federal agencies: Other agencies			—				24,853				—				—				24,853
Municipal securities			—				30,205				—				—				30,205
Other securities			69,017				3,039				—				—				72,056
			116,447				68,957				—				—				185,404
Available-for-sale and other securities:
U.S. Treasury securities			51,781				—				—				—				51,781
Federal agencies: Mortgage-backed			—				4,754,404				—				—				4,754,404
TLGP securities			—				183,467				—				—				183,467
Federal agencies: Other agencies (3)			—				2,058,376				—				—				2,058,376
Municipal securities			—				305,909				149,806				—				455,715
Private-label CMO			—				—				121,925				—				121,925
Asset-backed securities			—				1,044,438				162,684				—				1,207,122
Covered bonds			—				367,209				—				—				367,209
Corporate debt			—				323,389				—				—				323,389
Other securities			53,286				9,848				—				—				63,134
			105,067				9,047,040				434,415				—				9,586,522
Automobile loans			—				—				522,717				—				522,717
MSRs			—				—				125,679				—				125,679
Derivative assets			23,514				390,361				2,817				(70,559	)			346,133

		Fair Value Measurements at Reporting Date Using												Netting				Balance at
(dollar amounts in thousands)		Level 1				Level 2				Level 3				Adjustments (1)				June 30, 2010
Assets
Mortgage loans held for sale		$	—			$	404,817			$	—			$	—			$	404,817
Trading account securities:
U.S. Treasury securities			—				—				—				—				—
Federal agencies: Mortgage-backed			—				15,026				—				—				15,026
Federal agencies: Other agencies			—				—				—				—				—
Municipal securities			—				23,170				—				—				23,170
Other securities			64,285				4,377				—				—				68,662
			64,285				42,573				—				—				106,858
Available-for-sale and other securities:
U.S. Treasury securities			50,328				—				—				—				50,328
Federal agencies: Mortgage-backed			—				4,505,951				—				—				4,505,951
TLGP securities			184,757				—				—				—				184,757
Federal agencies: Other agencies			1,874,835				28,613				—				—				1,903,448
Municipal securities			—				113,788				262,128				—				375,916
Private-label CMO			—				—				394,611				—				394,611
Asset-backed securities			—				801,685				218,940				—				1,020,625
Covered bonds			—				—				—				—				—
Corporate debt			—				—				—				—				—
Other securities			55,061				8,106				—				—				63,167
			2,164,981				5,458,143				875,679				—				8,498,803
Automobile loans			470,825				—				186,388				—				657,213
MSRs			—				—				132,405				—				132,405
Derivative assets			1,663				454,249				8,469				(84,912	)			379,469

The tables below present a rollforward of the balance sheet amounts for the three-month and six-month periods ended June 30, 2011 and 2010, 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
		Three Months Ended June 30, 2011
										Available-for-sale securities
																		Asset-
						Derivative				Municipal				Private-				backed				Automobile				Equity
(dollar amounts in thousands)		MSRs				instruments				securities				label CMO				securities				loans				investments
Balance, beginning of period		$	119,207			$	(832	)		$	135,276			$	115,546			$	165,599			$	458,851			$	—
Total gains / losses:
Included in earnings			(14,210	)			1,411				—				59				9				1,127				—
Included in OCI			—				—				—				(110	)			3,293				—				—
Purchases			—				—				1,760				—				—				—				—
Sales			—				—				—				(20,958	)			—				—				—
Repayments			—				—				—				—				—				(59,043	)			—
Issuances			—				—				—				—				—				—				—
Settlements			—				(161	)			(13,236	)			(5,767	)			(3,159	)			—				—
Transfers in / out of Level 3			—				—				—				—				—				—				—
Balance, end of period		$	104,997			$	418			$	123,800			$	88,770			$	165,742			$	400,935			$	—
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date		$	(14,210	)		$	1,250			$	—			$	(1,164	)		$	3,293			$	1,127			$	—
		Level 3 Fair Value Measurements
		Three Months Ended June 30, 2010
										Available-for-sale securities
																		Asset-
						Derivative				Municipal				Private-				backed				Automobile				Equity
(dollar amounts in thousands)		MSRs				instruments				securities				label CMO				securities				loans				investments
Balance, beginning of period		$	162,106			$	(833	)		$	318,597			$	462,731			$	219,079			$	183,845			$	—
Total gains / losses:
Included in earnings			(29,701	)			5,547				—				(1,742	)			(445	)			4,845				—
Included in OCI			—				—				—				14,277				4,387				—				—
Purchases			—				—				—				—				—				—				—
Sales			—				—				—				(57,394	)			(793	)			—				—
Repayments			—				—				—				—				—				(2,302	)			—
Issuances			—				—				—				—				—				—				—
Settlements			—				1,778				(56,469	)			(23,261	)			(3,288	)			—				—
Transfers in / out of Level 3			—				—				—				—				—				—				—
Balance, end of period		$	132,405			$	6,492			$	262,128			$	394,611			$	218,940			$	186,388			$	—
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date		$	(29,701	)		$	5,330			$	—			$	12,535			$	3,942			$	4,845			$	—

		Level 3 Fair Value Measurements
		Six Months Ended June 30, 2011
										Available-for-sale securities
																		Asset-
						Derivative				Municipal				Private-				backed				Automobile				Equity
(dollar amounts in thousands)		MSRs				instruments				securities				label CMO				securities				loans				investments
Balance, beginning of period		$	125,679			$	966			$	149,806			$	121,925			$	162,684			$	522,717			$	—
Total gains / losses:
Included in earnings			(20,682	)			(293	)			—				(383	)			(3,261	)			(1,384	)			—
Included in OCI			—				—				—				3,617				13,590				—				—
Purchases			—				—				1,760				—				—				—				—
Sales			—				—				—				(20,958	)			—				—				—
Repayments			—				—				—				—				—				(120,398	)			—
Issuances			—				—				—				—				—				—				—
Settlements			—				(255	)			(27,766	)			(15,431	)			(7,271	)			—				—
Transfers in / out of Level 3			—				—				—				—				—				—				—
Balance, end of period		$	104,997			$	418			$	123,800			$	88,770			$	165,742			$	400,935			$	—
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date		$	(20,682	)		$	(548	)		$	—			$	1,774			$	13,590			$	(1,384	)		$	—
		Level 3 Fair Value Measurements
		Six Months Ended June 30, 2010
										Available-for-sale securities
																		Asset-
						Derivative				Municipal				Private-				backed				Automobile				Equity
(dollar amounts in thousands)		MSRs				instruments				securities				label CMO				securities				loans				investments
Balance, beginning of period		$	176,427			$	(4,236	)		$	11,515			$	477,319			$	407,098			$	—			$	25,872
Total gains / losses:
Included in earnings			(44,022	)			8,939				—				(3,832	)			(4,495	)			10,104				—
Included in OCI			—				—				—				24,967				8,574				—				—
Purchases			—				—				—				—				—				—				—
Sales			—				—				—				(57,394	)			(2,631	)			—				—
Repayments			—				—				—				—				—				(3,735	)			—
Issuances			—				—				—				—				—				—				—
Settlements			—				1,789				(73,024	)			(46,449	)			(5,533	)			—				—
Transfers in / out of Level 3 (1)			—				—				323,637				—				(184,073	)			180,019				(25,872	)
Balance, end of period		$	132,405			$	6,492			$	262,128			$	394,611			$	218,940			$	186,388			$	—
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date		$	(44,022	)		$	8,733			$	—			$	21,135			$	4,079			$	10,104			$	—

(1)		Transfers in / out of Level 3 include a transfer in of $323.6 million relating to municipal securities, due to lack of observable market data, a transfer out of $184.1 million of securities, and a transfer in of $180.0 million of loans both related to the consolidation of a 2009 automobile trust.

Assets and Liabilities measured at fair value on a nonrecurring basis

Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. At June 30, 2011, assets measured at fair value on a nonrecurring basis were as follows:

						Fair Value Measurements Using
						Quoted Prices				Significant				Significant				Total
						In Active				Other				Other				Gains/(Losses)
						Markets for				Observable				Unobservable				For the Six
		Fair Value at				Identical Assets				Inputs				Inputs				Months Ended
(dollar amounts in millions)		June 30, 2011				(Level 1)				(Level 2)				(Level 3)				June 30, 2011
Impaired loans		$	83.7			$	—			$	—			$	83.7			$	(21.2	)
Accrued income and other assets			38.7				—				—				38.7			$	(1.1	)