Fair Value, Assets Measured on Recurring Basis | The following tables present our assets measured at fair value on a recurring basis. | | | | | | | | | | | | | | | | | At December 31, 2016 ($ in millions) | Level 1 |
| | Level 2 |
| | Level 3 |
| | Total |
| | | | | | | | | Assets | | | | | | | | Investment securities | | | | | | | | Debt | | | | | | | | U.S. Government and Federal Agency | $ | — |
| | $ | 3,676 |
| | $ | — |
| | $ | 3,676 |
| State and municipal | — |
| | — |
| | 46 |
| | 46 |
| Residential mortgage-backed | — |
| | 1,373 |
| | — |
| | 1,373 |
| Equity | 15 |
| | — |
| | — |
| | 15 |
| Total | $ | 15 |
| | $ | 5,049 |
| | $ | 46 |
| | $ | 5,110 |
| | | | | | | | | At December 31, 2015 ($ in millions) | | | | | | | | | | | | | | | | Assets | | | | | | | | Investment securities | | | | | | | | Debt | | | | | | | | U.S. Government and Federal Agency | $ | — |
| | $ | 2,761 |
| | $ | — |
| | $ | 2,761 |
| State and municipal | — |
| | — |
| | 49 |
| | 49 |
| Residential mortgage-backed | — |
| | 317 |
| | — |
| | 317 |
| Equity | 15 |
| | — |
| | — |
| | 15 |
| Total | $ | 15 |
| | $ | 3,078 |
| | $ | 49 |
| | $ | 3,142 |
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Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents the changes in our Level 3 debt instruments that are measured on a recurring basis for the years ended December 31, 2016 and 2015. Changes in Level 3 Instruments | | | | | | | | | Years ended December 31, ($ in millions) | 2016 | | 2015 | | | | | Balance at beginning of period | $ | 49 |
| | $ | 60 |
| Net realized/unrealized gains (losses) | 1 |
| | 1 |
| Purchases | — |
| | — |
| Sales | — |
| | (6 | ) | Settlements | (4 | ) | | (6 | ) | Balance at end of period | $ | 46 |
| | $ | 49 |
| | | | | Net change in unrealized gains (losses) relating to instruments still held at December 31 | $ | 1 |
| | $ | 1 |
|
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Fair Value, by Balance Sheet Grouping | Financial Assets and Financial Liabilities Carried at Other than Fair Value | | | | | | | | | | | | | | | | | | | | | | Carrying |
| | Corresponding fair value amount | At December 31, 2016 ($ in millions) | value |
| | Total |
| | Level 1 |
| | Level 2 |
| | Level 3 |
| Financial Assets | | | | | | | | | | Financial assets for which carrying values equal or approximate fair value: | | | | | | | | | | Cash and equivalents(a) | $ | 9,321 |
| | $ | 9,321 |
| | $ | 9,321 |
| | $ | — |
| | $ | — |
| Other assets(b) | $ | 347 |
| | $ | 347 |
| | $ | 347 |
| | $ | — |
| | $ | — |
| Financial assets carried at other than fair value: | | | | | | | | | | Loan receivables, net(c) | $ | 71,993 |
| | $ | 79,566 |
| | $ | — |
| | $ | — |
| | $ | 79,566 |
| | | | | | | | | | | Financial Liabilities | | | | | | | | | | Financial liabilities carried at other than fair value: | | | | | | | | | | Deposits | $ | 52,055 |
| | $ | 52,507 |
| | $ | — |
| | $ | 52,507 |
| | $ | — |
| Borrowings of consolidated securitization entities | $ | 12,388 |
| | $ | 12,402 |
| | $ | — |
| | $ | 9,191 |
| | $ | 3,211 |
| Senior unsecured notes | $ | 7,759 |
| | $ | 7,875 |
| | $ | — |
| | $ | 7,875 |
| | $ | — |
| | | | | | | | | | | | Carrying |
| | Corresponding fair value amount | At December 31, 2015 ($ in millions) | value |
| | Total |
| | Level 1 |
| | Level 2 |
| | Level 3 |
| Financial Assets | | | | | | | | | | Financial assets for which carrying values equal or approximate fair value: | | | | | | | | | | Cash and equivalents(a) | $ | 12,325 |
| | $ | 12,325 |
| | $ | 11,865 |
| | $ | 460 |
| | $ | — |
| Other assets(b) | $ | 391 |
| | $ | 391 |
| | $ | 391 |
| | $ | — |
| | $ | — |
| Financial assets carried at other than fair value: | | | | | | | | | | Loan receivables, net(c) | $ | 64,793 |
| | $ | 71,386 |
| | $ | — |
| | $ | — |
| | $ | 71,386 |
| | | | | | | | | | | Financial Liabilities | | | | | | | | | | Financial liabilities carried at other than fair value: | | | | | | | | | | Deposits | $ | 43,367 |
| | $ | 43,840 |
| | $ | — |
| | $ | 43,840 |
| | $ | — |
| Borrowings of consolidated securitization entities | $ | 13,589 |
| | $ | 13,562 |
| | $ | — |
| | $ | 7,566 |
| | $ | 5,996 |
| Bank term loan | $ | 4,133 |
| | $ | 4,125 |
| | $ | — |
| | $ | — |
| | $ | 4,125 |
| Senior unsecured notes | $ | 6,557 |
| | $ | 6,574 |
| | $ | — |
| | $ | 6,574 |
| | $ | — |
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_______________________ | | (a) | For cash and equivalents, carrying value approximates fair value due to the liquid nature and short maturity of these instruments. Cash equivalents classified as Level 2 represent U.S. Government and Federal Agency debt securities with original maturities of three months or less. |
| | (b) | This balance relates to restricted cash and equivalents, which is included in other assets. |
| | (c) | Under certain retail partner program agreements, the expected sales proceeds in the event of a sale of their credit card portfolio may be limited to the amounts owed by our customers, which may be less than the fair value indicated above. |
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