HELD-TO-MATURITY SECURITIES (Tables)
|
9 Months Ended |
Sep. 30, 2018 |
|---|
| Schedule of Held-to-maturity Securities [Line Items] |
|
| Contractual maturities of held-to-maturity securities |
Listed below are the contractual maturities of held-to-maturity securities at September 30, 2018 and December 31, 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2018 |
|
December 31, 2017 |
(dollar amounts in millions) |
Amortized
Cost
|
|
Fair
Value
|
|
Amortized
Cost
|
|
Fair
Value
|
Federal agencies: |
|
|
|
|
|
|
|
Residential CMO: |
|
|
|
|
|
|
|
After 5 years through 10 years |
36 |
|
|
35 |
|
|
— |
|
|
— |
|
After 10 years |
2,167 |
|
|
2,073 |
|
|
3,714 |
|
|
3,657 |
|
Total Residential CMO |
2,203 |
|
|
2,108 |
|
|
3,714 |
|
|
3,657 |
|
Residential MBS: |
|
|
|
|
|
|
|
After 5 years through 10 years |
— |
|
|
— |
|
|
28 |
|
|
28 |
|
After 10 years |
1,624 |
|
|
1,555 |
|
|
1,021 |
|
|
1,016 |
|
Total Residential MBS |
1,624 |
|
|
1,555 |
|
|
1,049 |
|
|
1,044 |
|
Commercial MBS: |
|
|
|
|
|
|
|
After 1 year through 5 years |
— |
|
|
— |
|
|
38 |
|
|
37 |
|
After 5 years through 10 years |
130 |
|
|
126 |
|
|
1 |
|
|
1 |
|
After 10 years |
4,141 |
|
|
3,968 |
|
|
3,752 |
|
|
3,698 |
|
Total Commercial MBS |
4,271 |
|
|
4,094 |
|
|
3,791 |
|
|
3,736 |
|
Other agencies: |
|
|
|
|
|
|
|
After 1 year through 5 years |
12 |
|
|
12 |
|
|
7 |
|
|
8 |
|
After 5 years through 10 years |
204 |
|
|
197 |
|
|
362 |
|
|
360 |
|
After 10 years |
146 |
|
|
141 |
|
|
163 |
|
|
161 |
|
Total other agencies |
362 |
|
|
350 |
|
|
532 |
|
|
529 |
|
Total Federal agencies and other agencies |
8,460 |
|
|
8,107 |
|
|
9,086 |
|
|
8,966 |
|
Municipal securities: |
|
|
|
|
|
|
|
After 10 years |
5 |
|
|
5 |
|
|
5 |
|
|
5 |
|
Total municipal securities |
5 |
|
|
5 |
|
|
5 |
|
|
5 |
|
Total held-to-maturity securities |
$ |
8,465 |
|
|
$ |
8,112 |
|
|
$ |
9,091 |
|
|
$ |
8,971 |
|
|
| 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 September 30, 2018 and December 31, 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized |
|
|
(dollar amounts in millions) |
Amortized
Cost
|
|
Gross
Gains
|
|
Gross
Losses
|
|
Fair Value |
September 30, 2018 |
|
|
|
|
|
|
|
Federal agencies: |
|
|
|
|
|
|
|
Residential CMO |
$ |
2,203 |
|
|
$ |
— |
|
|
$ |
(95 |
) |
|
$ |
2,108 |
|
Residential MBS |
1,624 |
|
|
— |
|
|
(69 |
) |
|
1,555 |
|
Commercial MBS |
4,271 |
|
|
— |
|
|
(177 |
) |
|
4,094 |
|
Other agencies |
362 |
|
|
— |
|
|
(12 |
) |
|
350 |
|
Total Federal agencies and other agencies |
8,460 |
|
|
— |
|
|
(353 |
) |
|
8,107 |
|
Municipal securities |
5 |
|
|
— |
|
|
— |
|
|
5 |
|
Total held-to-maturity securities |
$ |
8,465 |
|
|
$ |
— |
|
|
$ |
(353 |
) |
|
$ |
8,112 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
| 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 September 30, 2018 and December 31, 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
|
Over 12 Months |
|
Total |
(dollar amounts in millions) |
Fair
Value |
|
Gross Unrealized
Losses |
|
Fair
Value |
|
Gross Unrealized
Losses |
|
Fair
Value |
|
Gross Unrealized
Losses |
September 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Federal agencies: |
|
|
|
|
|
|
|
|
|
|
|
Residential CMO |
$ |
557 |
|
|
$ |
(21 |
) |
|
$ |
1,551 |
|
|
$ |
(74 |
) |
|
$ |
2,108 |
|
|
$ |
(95 |
) |
Residential MBS |
807 |
|
|
(33 |
) |
|
748 |
|
|
(36 |
) |
|
1,555 |
|
|
(69 |
) |
Commercial MBS |
410 |
|
|
(15 |
) |
|
3,683 |
|
|
(162 |
) |
|
4,093 |
|
|
(177 |
) |
Other agencies |
192 |
|
|
(6 |
) |
|
138 |
|
|
(6 |
) |
|
330 |
|
|
(12 |
) |
Total Federal agencies and other agencies |
1,966 |
|
|
(75 |
) |
|
6,120 |
|
|
(278 |
) |
|
8,086 |
|
|
(353 |
) |
Municipal securities |
— |
|
|
— |
|
|
4 |
|
|
— |
|
|
4 |
|
|
— |
|
Total temporarily impaired securities |
$ |
1,966 |
|
|
$ |
(75 |
) |
|
$ |
6,124 |
|
|
$ |
(278 |
) |
|
$ |
8,090 |
|
|
$ |
(353 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
|
Over 12 Months |
|
Total |
(dollar amounts in millions) |
Fair
Value
|
|
Gross Unrealized
Losses
|
|
Fair
Value
|
|
Gross Unrealized
Losses
|
|
Fair
Value
|
|
Gross 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 |
) |
|