v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
The following table presents assets and liabilities measured at estimated fair value on a recurring basis:
 March 31, 2026December 31, 2025
 Level 1Level 2
Level 3 (1)
Total
Estimated Fair Value		Level 1Level 2
Level 3 (1)
Total
Estimated Fair Value
 (In millions)
Recurring fair value measurements
Debt securities available for sale:
U.S. Treasury securities$2,345 $— $— $2,345 $2,276 $— $— $2,276 
Federal agency securities— 537 — 537 — 543 — 543 
Obligations of states and political subdivisions— 1 — 1 — 2 — 2 
Mortgage-backed securities:
Residential agency— 17,634 — 17,634 — 18,387 — 18,387 
Commercial agency— 6,340 — 6,340 — 5,829 — 5,829 
Commercial non-agency— 82 — 82 — 82 — 82 
Corporate and other debt securities— 478 2 480 — 439 2 441 
Total debt securities available for sale$2,345 $25,072 $2 $27,419 $2,276 $25,282 $2 $27,560 
Loans held for sale$— $336 $— $336 $— $290 $— $290 
Marketable equity securities in other earning assets$859 $— $— $859 $946 $— $— $946 
Residential mortgage servicing rights$— $— $954 $954 $— $— $970 $970 
Commercial mortgage servicing rights through non-DUS agency programs
$— $— $93 $93 $— $— $93 $93 
Derivative assets (2):
Interest rate swaps$— $1,082 $— $1,082 $— $1,126 $— $1,126 
Interest rate options— 15 5 20 — 10 6 16 
Interest rate futures and forward commitments— 11 — 11 — 8 — 8 
Other contracts2 455 — 457 1 184 — 185 
Total derivative assets$2 $1,563 $5 $1,570 $1 $1,328 $6 $1,335 
Derivative liabilities (2):
Interest rate swaps$— $1,316 $— $1,316 $— $1,265 $— $1,265 
Interest rate options— 13 — 13 — 7 — 7 
Interest rate futures and forward commitments— 3 — 3 — 1 — 1 
Other contracts1 436 — 437 — 172 — 172 
Total derivative liabilities$1 $1,768 $— $1,769 $— $1,445 $— $1,445 
Securities sold, but not yet purchased
$44 $— $— $44 $19 $— $— $19 
_________
(1)All following disclosures related to Level 3 recurring assets do not include those deemed to be immaterial.
(2)As permitted under U.S. GAAP, variation margin collateral payments made or received for derivatives that are centrally cleared are legally characterized as settled. As such, these derivative assets and derivative liabilities and the related variation margin collateral are presented on a net basis on the balance sheet.
Summary Of Quantitative Information About Level 3 Measurements
The following tables present detailed information regarding material assets and liabilities measured at fair value using significant unobservable inputs (Level 3) as of March 31, 2026 and December 31, 2025. The tables include the valuation techniques and the significant unobservable inputs utilized. The range of each significant unobservable input as well as the weighted-average within the range utilized at March 31, 2026 and December 31, 2025 are included. Following the tables are descriptions of the valuation techniques and the sensitivity of the techniques to changes in the significant unobservable inputs.
 March 31, 2026
 Level 3
Estimated Fair Value		Valuation
Technique		Unobservable
Input(s)		Quantitative Range of
Unobservable Inputs and
(Weighted-Average)
 (Dollars in millions)
Recurring fair value measurements:
Residential MSR (1)
$954Discounted cash flowWeighted-average CPR (%)
4.3% - 15.3% (7.5%)
OAS (%)
4.7% - 8.0% (5.0%)
Commercial MSR through non-DUS agency programs (1)
$93Discounted cash flowWeighted-average CPR (%)
6.9% - 7.6% (7.6%)
Discount rate (%)
8.0% - 10.0% (8.2%)
_______
(1)See Note 5 for additional disclosures related to assumptions used in the fair value calculation for residential and commercial mortgage servicing rights.

 December 31, 2025
 Level 3
Estimated Fair Value		Valuation
Technique		Unobservable
Input(s)		Quantitative Range of
Unobservable Inputs and
(Weighted-Average)
 (Dollars in millions)
Recurring fair value measurements:
Residential MSR (1)
$970Discounted cash flowWeighted-average CPR (%)
4.2% - 16.9% (7.5%)
OAS (%)
4.7% -8.0% (5.0%)
Commercial MSR through non-DUS agency programs (1)
$93Discounted cash flowWeighted-average CPR (%)
6.5% - 7.6% (7.5%)
Discount rate (%)
8.0% -10.0% (8.2%)
_______
(1)See Note 6 to the consolidated financial statements of the Annual Report on Form 10-K for the year ended December 31, 2025 for additional disclosures related to assumptions used in the fair value calculation for residential and commercial mortgage servicing rights.
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments The following tables present the carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments not recorded at fair value as of March 31, 2026 and December 31, 2025.
 March 31, 2026December 31, 2025
 Carrying
Amount
Estimated
Fair
Value(1)
Level 1Level 2Level 3Carrying
Amount
Estimated
Fair
Value(1)
Level 1Level 2Level 3
 (In millions)(In millions)
Financial assets:
Cash and cash equivalents$11,143 $11,143 $11,143 $— $— $10,907 $10,907 $10,907 $— $— 
Debt securities held to maturity5,434 5,374 — 5,374 — 5,606 5,584 — 5,584 — 
Loans held for sale128 128 — 126 2 221 221 — 221 — 
Loans, net of unearned income and allowance for loan losses(2)(3)
96,399 94,184 — — 94,184 94,081 92,119 — — 92,119 
Other earning assets776 776 — 776 — 757 757 — 757 — 
Financial liabilities:
Deposits with no stated maturity(4)
118,772 118,772 — 118,772 — 117,240 117,240 — 117,240 — 
Time deposits(4)
13,108 13,089 — 13,089 — 13,888 13,874 — 13,874 — 
Short-term borrowings3,200 3,200 — 3,200 — 750 750 — 750 — 
Long-term borrowings3,137 3,242 — 3,241 1 4,134 4,309 — 4,308 1 
Loan commitments and letters of credit154 154 — — 154 164 164 — — 164 
_________
(1)Estimated fair values are consistent with an exit price concept. The assumptions used to estimate the fair values are intended to approximate those that a market participant would use in a hypothetical orderly transaction. In estimating fair value, the Company makes adjustments for estimated changes in interest rates, market liquidity and credit spreads in the periods they are deemed to have occurred.
(2)The estimated fair value of portfolio loans assumes sale of the loans to a third-party financial investor. Accordingly, the value to the Company if the loans were held to maturity is not reflected in the fair value estimate. The fair value discount on the loan portfolio's net carrying amount at March 31, 2026 was $2.2 billion or 2.3 percent. The fair value discount on the loan portfolio's net carrying amount at December 31, 2025 was $2.0 billion or 2.1 percent.
(3)At March 31, 2026, the carrying value and estimated fair value of loans include the sales-type, direct financing and leveraged leases. Prior period amounts were conformed accordingly.
(4)The fair value of non-interest-bearing deposit accounts, interest-bearing checking accounts, savings accounts, and money market accounts is the amount payable on demand at the reporting date (i.e., the carrying amount) as these instruments have an indeterminate maturity date. Fair values for time deposits are estimated by using discounted cash flow analyses, based on market spreads to benchmark rates.