v3.26.1
Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
AFS and HTM Securities
The following tables summarize the Company’s AFS and HTM securities:

June 30, 2026Amortized CostGross UnrealizedNet unrealized gains (losses)Fair Value
(Dollars in millions)GainsLosses
AFS securities:
U.S. Treasury$13,316 $47 $(50)$(3)$13,313 
GSE459 2 (25)(23)436 
Agency MBS – residential53,207 162 (4,217)(4,055)49,152 
Agency MBS – commercial3,718 3 (595)(592)3,126 
States and political subdivisions342 11 (12)(1)341 
Collateralized loan obligations1,279 — — — 1,279 
Other4 — — — 4 
Total AFS securities, excluding portfolio level basis adjustments$72,325 $225 $(4,899)$(4,674)$67,651 
Portfolio level basis adjustments(1)
(102)102 — 
Total AFS securities$72,223 $225 $(4,899)$(4,572)$67,651 
HTM securities:
Agency MBS – residential$46,351 $2 $(8,208)$(8,206)$38,145 
December 31, 2025Amortized CostGross UnrealizedNet unrealized gains (losses)Fair Value
(Dollars in millions)GainsLosses
AFS securities:
U.S. Treasury$12,727 $89 $(24)$65 $12,792 
GSE481 4 (25)(21)460 
Agency MBS – residential51,971 272 (4,017)(3,745)48,226 
Agency MBS – commercial3,762 12 (574)(562)3,200 
States and political subdivisions347 13 (10)3 350 
Other14 — — — 14 
Total AFS securities, excluding portfolio level basis adjustments$69,302 $390 $(4,650)$(4,260)$65,042 
Portfolio level basis adjustments(1)
77 (77)— 
Total AFS securities$69,379 $390 $(4,650)$(4,337)$65,042 
HTM securities:
Agency MBS – residential$47,186 $— $(8,056)$(8,056)$39,130 
(1)Represents fair value hedge basis adjustments related to active portfolio layer method hedges, which are not allocated to individual securities. For additional information, refer to “Note 14. Derivative Financial Instruments.”
Amortized Cost and Estimated Fair Value by Contractual Maturity
The amortized cost and estimated fair value of the securities portfolio by contractual maturity are shown in the following table. The expected lives of MBS may be shorter than the contractual maturities because borrowers have the right to prepay their obligations with or without penalties.
Amortized CostFair Value
June 30, 2026
(Dollars in millions)		Due in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten yearsTotalDue in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten yearsTotal
AFS securities:
U.S. Treasury$4,610 $7,927 $36 $743 $13,316 $4,634 $7,931 $35 $713 $13,313 
GSE— — 4 455 459 — — 4 432 436 
Agency MBS – residential— — 50 53,157 53,207 — — 49 49,103 49,152 
Agency MBS – commercial— 534 419 2,765 3,718 — 531 414 2,181 3,126 
States and political subdivisions2 81 179 80 342 2 83 178 78 341 
Collateralized loan obligations— — — 1,279 1,279 — — — 1,279 1,279 
Other4 — — — 4 4 — — — 4 
Total AFS securities$4,616 $8,542 $688 $58,479 $72,325 $4,640 $8,545 $680 $53,786 $67,651 
HTM securities:
Agency MBS – residential$— $— $— $46,351 $46,351 $— $— $— $38,145 $38,145 
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
The following tables present the fair values and gross unrealized losses of investments based on the length of time that individual securities have been in a continuous unrealized loss position:

Less than 12 months12 months or moreTotal
June 30, 2026
(Dollars in millions)		Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
AFS securities:
U.S. Treasury$3,932 $(44)$130 $(6)$4,062 $(50)
GSE105 (1)204 (24)309 (25)
Agency MBS – residential13,928 (117)23,431 (4,100)37,359 (4,217)
Agency MBS – commercial561 (8)1,997 (587)2,558 (595)
States and political subdivisions202 (12)— — 202 (12)
Other— — 4 — 4 — 
Total$18,728 $(182)$25,766 $(4,717)$44,494 $(4,899)
HTM securities:
Agency MBS – residential$201 $— $37,355 $(8,208)$37,556 $(8,208)
Less than 12 months12 months or moreTotal
December 31, 2025
(Dollars in millions)		Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
AFS securities:
U.S. Treasury$704 $(16)$432 $(8)$1,136 $(24)
GSE65 (1)228 (24)293 (25)
Agency MBS – residential2,882 (8)24,986 (4,009)27,868 (4,017)
Agency MBS – commercial227 (2)2,093 (572)2,320 (574)
States and political subdivisions158 (10)31 — 189 (10)
Other7 — 7 — 14 — 
Total$4,043 $(37)$27,777 $(4,613)$31,820 $(4,650)
HTM securities:
Agency MBS – residential$— $— $39,130 $(8,056)$39,130 $(8,056)