v3.26.1
Investment Securities (Tables)
 6 Months Ended
Jun. 30, 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 44: Investment Securities Summary (a) (b)
June 30, 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$28,804 $72 $(351)$28,525 $29,022 $188 $(313)$28,897 
Residential mortgage-backed
Agency35,794 119 (2,025)33,888 32,429 176 (1,942)30,663 
Non-agency417 104 (4)517 442 110 (4)548 
Commercial mortgage-backed
Agency3,416 20 (75)3,361 3,395 43 (66)3,372 
Non-agency160 — (2)158 256 — (4)252 
Asset-backed2,521 31 (3)2,549 2,247 50 — 2,297 
Other 2,095 58 (51)2,102 2,106 54 (54)2,106 
Total securities available-for-sale $73,207 $404 $(2,511)$71,100 $69,897 $621 $(2,383)$68,135 
Securities Held-to-Maturity
U.S. Treasury and government agencies$18,666 $2 $(385)$18,283 $21,537 $25 $(318)$21,244 
Residential mortgage-backed
Agency51,294 155 (2,588)48,861 42,599 279 (2,155)40,723 
Non-agency213 — (13)200 222 — (11)211 
Commercial mortgage-backed
Agency4,545 8 (72)4,481 1,091 16 (7)1,100 
Non-agency150 3 — 153 328 3 (1)330 
Asset-backed1,130 11 (7)1,134 1,840 46 (6)1,880 
Other2,408 29 (27)2,410 2,488 34 (31)2,491 
Total securities held-to-maturity (d)$78,406 $208 $(3,092)$75,522 $70,105 $403 $(2,529)$67,979 
(a) At June 30, 2026, the accrued interest associated with our available-for-sale and held-to-maturity portfolios totaled $335 million and $246 million, respectively. The comparable amounts at December 31, 2025 were $348 million and $219 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 June 30, 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 $4 million for securities held-to-maturity at June 30, 2026. Comparable amounts at December 31, 2025 were $61 million and $5 million, respectively.
(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 $2.4 billion at June 30, 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 45 presents the gross unrealized losses and fair value of securities available-for-sale that do not have an associated allowance for investment securities at June 30, 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 June 30, 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 45: 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
June 30, 2026
U.S. Treasury and government agencies$(34)$7,060 $(317)$1,386 $(351)$8,446 
Residential mortgage-backed
Agency(68)7,664 (1,957)15,093 (2,025)22,757 
Non-agency— — (1)30 (1)30 
Commercial mortgage-backed
Agency(2)407 (73)1,515 (75)1,922 
Non-agency— — (2)71 (2)71 
Asset-backed(3)829 — — (3)829 
Other (2)173 (40)1,099 (42)1,272 
Total securities available-for-sale$(109)$16,133 $(2,390)$19,194 $(2,499)$35,327 
December 31, 2025
U.S. Treasury and government agencies$(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 46: Gains (Losses) on Sales of Securities Available-for-Sale
Six months ended June 30
In millions
Gross GainsGross LossesNet Gains (Losses) Tax Expense (Benefit)
2026$31 $(142)(a)$(111)$(23)
2025$2 $(4)$(2)$— 
(a)    Includes a securities loss of $139 million related to the sale of approximately $4.1 billion of available-for-sale securities as part of the repositioning of the investment securities portfolio.
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 June 30, 2026:
Table 47: Contractual Maturity of Debt Securities
June 30, 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$497 $24,352 $1,665 $2,290 $28,804 
Residential mortgage-backed
Agency1 426 2,432 32,935 35,794 
Non-agency— — 177 240 417 
Commercial mortgage-backed
Agency8 1,447 135 1,826 3,416 
Non-agency— 79 55 26 160 
Asset-backed5 1,399 295 822 2,521 
Other 512 812 256 515 2,095 
Total securities available-for-sale at amortized cost$1,023 $28,515 $5,015 $38,654 $73,207 
Fair value$1,018 $28,436 $4,952 $36,694 $71,100 
Weighted-average yield, GAAP basis (a)3.48 %4.07 %3.64 %3.93 %3.96 %
Securities Held-to-Maturity
U.S. Treasury and government agencies$7,458 $9,849 $541 $818 $18,666 
Residential mortgage-backed
Agency — 14 3,767 47,513 51,294 
Non-agency— — — 213 213 
Commercial mortgage-backed
Agency— 3,516 491 538 4,545 
Non-agency— — — 150 150 
Asset-backed14 97 520 499 1,130 
Other114 635 250 1,409 2,408 
Total securities held-to-maturity at amortized cost$7,586 $14,111 $5,569 $51,140 $78,406 
Fair value$7,567 $13,800 $5,332 $48,823 $75,522 
Weighted-average yield, GAAP basis (a)1.30 %2.40 %2.50 %3.50 %3.02 %
(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 48: Fair Value of Securities Pledged and Accepted as Collateral
In millionsJune 30, 2026December 31, 2025
Pledged to others$65,015 $61,230 
Accepted from others:
Permitted by contract or custom to sell or repledge$1,047 $759 
Permitted amount repledged to others$1,047 $759