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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 916 $ 255
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (301) 481
Depreciation and amortization (22) 75
Share-based compensation 23 22
Deferred income tax expense (benefit) 108 (97)
Net decrease in trading securities (39) (16)
Net decrease (increase) in loans held for sale 13 (2)
Change in other liabilities 14 31
Change in other assets (177) (185)
Other, net (72) (16)
Net cash provided by operating activities 463 548
CASH FLOWS FROM INVESTING ACTIVITIES    
Net increase in money market investments (4,461) (2,433)
Proceeds from maturities and paydowns of investment securities held-to-maturity 433 250
Purchases of investment securities held-to-maturity (256) (250)
Proceeds from sales, maturities and paydowns of investment securities available-for-sale 3,611 3,198
Purchases of investment securities available-for-sale (8,730) (3,907)
Net change in loans and leases 2,957 (6,004)
Purchases and sales of other noninterest-bearing investments 18 56
Purchases of premises and equipment (153) (123)
Other, net 8 32
Net cash used in investing activities (6,573) (9,181)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 8,230 10,008
Net change in short-term funds borrowed (993) (801)
Cash paid for preferred stock redemption (126) 0
Redemption of long-term debt (281) (429)
Proceeds from the issuance of common stock 17 5
Dividends paid on common and preferred stock (199) (195)
Bank common stock repurchased (475) (76)
Other, net (9) (8)
Net cash provided by financing activities 6,164 8,504
Net increase (decrease) in cash and due from banks 54 (129)
Cash and due from banks at beginning of period 543 705
Cash and due from banks at end of period 597 576
Cash paid for interest 61 164
Net cash paid for income taxes 442 148
Noncash activities are summarized as follows:    
Loans held for investment transferred to other real estate owned 22 2
Loans held for investment reclassified to loans held for sale, net $ 55 $ (21)