v3.26.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Summary The following table summarizes our available-for-sale and held-to-maturity portfolios by major security type.
Table 42: Investment Securities Summary (a) (b)
March 31, 2026December 31, 2025
In millionsAmortized
Cost (c)		UnrealizedFair
Value		Amortized
Cost (c)		UnrealizedFair
Value
GainsLossesGainsLosses
Securities Available-for-Sale
U.S. Treasury and government agencies$26,765 $90 $(356)$26,499 $29,022 $188 $(313)$28,897 
Residential mortgage-backed
Agency37,562 134 (2,043)35,653 32,429 176 (1,942)30,663 
Non-agency430 107 (4)533 442 110 (4)548 
Commercial mortgage-backed
Agency3,446 35 (69)3,412 3,395 43 (66)3,372 
Non-agency229 — (3)226 256 — (4)252 
Asset-backed2,272 38 (1)2,309 2,247 50 — 2,297 
Other 2,446 52 (58)2,440 2,106 54 (54)2,106 
Total securities available-for-sale $73,150 $456 $(2,534)$71,072 $69,897 $621 $(2,383)$68,135 
Securities Held-to-Maturity
U.S. Treasury and government agencies$18,880 $16 $(358)$18,538 $21,537 $25 $(318)$21,244 
Residential mortgage-backed
Agency44,508 182 (2,365)42,325 42,599 279 (2,155)40,723 
Non-agency219 — (12)207 222 — (11)211 
Commercial mortgage-backed
Agency4,364 13 (43)4,334 1,091 16 (7)1,100 
Non-agency223 2 — 225 328 3 (1)330 
Asset-backed1,364 20 (6)1,378 1,840 46 (6)1,880 
Other2,482 22 (43)2,461 2,488 34 (31)2,491 
Total securities held-to-maturity (d)$72,040 $255 $(2,827)$69,468 $70,105 $403 $(2,529)$67,979 
(a) At March 31, 2026, the accrued interest associated with our held-to-maturity and available-for-sale portfolios totaled $212 million and $266 million, respectively. The comparable amounts at December 31, 2025 were $219 million and $348 million, respectively. These amounts are included in Other assets on the Consolidated Balance Sheet.
(b) Credit ratings represent a primary credit quality indicator used to monitor and manage credit risk. Of our total securities portfolio, 97% were rated AAA/AA at both March 31, 2026 and December 31, 2025.
(c) Amortized cost is presented net of allowance of $61 million for securities available-for-sale, primarily related to non-agency commercial mortgage-backed securities, and $5 million for securities held-to-maturity at both March 31, 2026 and December 31, 2025.
(d) Held-to-maturity securities transferred from available-for-sale are included in held-to-maturity at fair value at the time of the transfer. The amortized cost of held-to-maturity securities included net unrealized losses of $2.5 billion at March 31, 2026 related to securities transferred, which are offset in AOCI, net of tax. The comparable amount at December 31, 2025 was $2.7 billion.
Gross Unrealized Loss and Fair Value of Securities Available for Sale Without an Allowance for Credit Losses
Table 43 presents the gross unrealized losses and fair value of securities available-for-sale that do not have an associated allowance for investment securities at March 31, 2026 and December 31, 2025. These securities are segregated between investments that had been in a continuous unrealized loss position for less than twelve months and twelve months or more, based on the point in time that the fair
value declined below the amortized cost basis. All securities included in the table have been evaluated to determine if a credit loss exists. As part of that assessment, as of March 31, 2026, we concluded that we do not intend to sell and believe we will not be required to sell these securities prior to recovery of the amortized cost basis.
 
Table 43: Gross Unrealized Loss and Fair Value of Securities Available-for-Sale Without an Allowance for Credit Losses
Unrealized loss position
less than 12 months		Unrealized loss position
12 months or more		Total
In millionsUnrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value
March 31, 2026
U.S. Treasury and government agencies$(26)$11,216 $(330)$1,390 $(356)$12,606 
Residential mortgage-backed
Agency(32)5,494 (2,011)16,745 (2,043)22,239 
Non-agency— — (1)31 (1)31 
Commercial mortgage-backed
Agency(1)83 (68)1,543 (69)1,626 
Non-agency— — (3)140 (3)140 
Asset-backed(1)183 — — (1)183 
Other (2)251 (47)1,419 (49)1,670 
Total securities available-for-sale$(62)$17,227 $(2,460)$21,268 $(2,522)$38,495 
December 31, 2025
U.S. Treasury and government agencies$(1)$103 $(312)$1,427 $(313)$1,530 
Residential mortgage-backed
Agency(4)541 (1,938)17,383 (1,942)17,924 
Non-agency— — (1)24 (1)24 
Commercial mortgage-backed
Agency— — (66)1,572 (66)1,572 
Non-agency— — (4)167 (4)167 
Asset-backed— — — — — — 
Other— — (43)1,518 (43)1,518 
Total securities available-for-sale$(5)$644 $(2,364)$22,091 $(2,369)$22,735 
Gains (Losses) on Sales Of Securities Available for Sale
Information related to gross realized securities gains and losses from the sales of securities is set forth in the following table.

Table 44: Gains (Losses) on Sales of Securities Available-for-Sale
Three months ended March 31
In millions
Gross GainsGross LossesNet Gains (Losses) Tax Expense (Benefit)
2026$31 $(3)$28 $6 
2025$2 $(4)$(2)$— 
Contractual Maturity of Securities
The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at March 31, 2026.
Table 45: Contractual Maturity of Debt Securities
March 31, 2026
Dollars in millions		1 Year or LessAfter 1 Year
through 5 Years		After 5 Years
through 10 Years		After 10
Years		Total
Securities Available-for-Sale
U.S. Treasury and government agencies$545 $20,697 $3,346 $2,177 $26,765 
Residential mortgage-backed
Agency1 428 2,858 34,275 37,562 
Non-agency— — 160 270 430 
Commercial mortgage-backed
Agency7 1,451 140 1,848 3,446 
Non-agency— 79 55 95 229 
Asset-backed14 1,089 364 805 2,272 
Other 687 968 261 530 2,446 
Total securities available-for-sale at amortized cost$1,254 $24,712 $7,184 $40,000 $73,150 
Fair value$1,251 $24,662 $7,095 $38,064 $71,072 
Weighted-average yield, GAAP basis (a)3.19 %3.98 %3.81 %3.83 %3.87 %
Securities Held-to-Maturity
U.S. Treasury and government agencies$7,737 $9,569 $742 $832 $18,880 
Residential mortgage-backed
Agency — 4 2,594 41,910 44,508 
Non-agency— — — 219 219 
Commercial mortgage-backed
Agency— 3,515 477 372 4,364 
Non-agency— — — 223 223 
Asset-backed16 126 680 542 1,364 
Other69 724 258 1,431 2,482 
Total securities held-to-maturity at amortized cost$7,822 $13,938 $4,751 $45,529 $72,040 
Fair value$7,790 $13,709 $4,637 $43,332 $69,468 
Weighted-average yield, GAAP basis (a)1.27 %2.42 %2.70 %3.20 %2.81 %
(a)Weighted-average yields are based on amortized cost with effective yields weighted for the contractual maturity of each security. Actual maturities and yields may differ as certain securities may be prepaid.
Fair Value of Securities Pledged and Accepted as Collateral
The following table presents the fair value of securities that have been either pledged to or accepted from others to collateralize outstanding borrowings and unused borrowing capacity.
Table 46: Fair Value of Securities Pledged and Accepted as Collateral
In millionsMarch 31, 2026December 31, 2025
Pledged to others$59,718 $61,230 
Accepted from others:
Permitted by contract or custom to sell or repledge$1,227 $759 
Permitted amount repledged to others$1,227 $759