The table below summarizes information about the allowance for loan losses, loans by impairment methodology, the allowance for lending-related commitments and lending-related commitments by impairment methodology.



	2014
Year ended December 31, (in millions)	Consumer, excluding credit card			Credit card				Wholesale			Total
Allowance for loan losses
Beginning balance at January 1,	$	8,456		$	3,795			$	4,013		$	16,264
Gross charge-offs	2,132			3,831				151			6,114
Gross recoveries	(814		)	(402		)		(139		)	(1,355		)
Net charge-offs/(recoveries)	1,318			3,429				12			4,759
Write-offs of PCI loans^(a)	533			—				—			533
Provision for loan losses	414			3,079				(269		)	3,224
Other	31			(6		)		(36		)	(11		)
Ending balance at December 31,	$	7,050		$	3,439			$	3,696		$	14,185

Allowance for loan losses by impairment methodology
Asset-specific^(b)	$	539		$	500		^(c)	$	87		$	1,126
Formula-based	3,186			2,939				3,609			9,734
PCI	3,325			—				—			3,325
Total allowance for loan losses	$	7,050		$	3,439			$	3,696		$	14,185

Loans by impairment methodology
Asset-specific	$	12,020		$	2,029			$	637		$	14,686
Formula-based	236,263			125,998				323,861			686,122
PCI	46,696			—				4			46,700
Total retained loans	$	294,979		$	128,027			$	324,502		$	747,508

Impaired collateral-dependent loans
Net charge-offs	$	133		$	—			$	21		$	154
Loans measured at fair value of collateral less cost to sell	3,025			—				326			3,351

Allowance for lending-related commitments
Beginning balance at January 1,	$	8		$	—			$	697		$	705
Provision for lending-related commitments	5			—				(90		)	(85		)
Other	—			—				2			2
Ending balance at December 31,	$	13		$	—			$	609		$	622

Allowance for lending-related commitments by impairment methodology
Asset-specific	$	—		$	—			$	60		$	60
Formula-based	13			—				549			562
Total allowance for lending-related commitments	$	13		$	—			$	609		$	622

Lending-related commitments by impairment methodology
Asset-specific	$	—		$	—			$	103		$	103
Formula-based	58,153			525,963				471,953			1,056,069
Total lending-related commitments	$	58,153		$	525,963			$	472,056		$	1,056,172

(a)

Write-offs of PCI loans are recorded against the allowance for loan losses when actual losses for a pool exceed estimated losses that were recorded as purchase accounting adjustments at the time of acquisition. A write-off of a PCI loan is recognized when the underlying loan is removed from a pool (e.g., upon liquidation). During the fourth quarter of 2014, the Firm recorded a $291 million adjustment to reduce the PCI allowance and the recorded investment in the Firm’s PCI loan portfolio, primarily reflecting the cumulative effect of interest forgiveness modifications. This adjustment had no impact to the Firm’s Consolidated statements of income.


(b)	Includes risk-rated loans that have been placed on nonaccrual status and loans that have been modified in a TDR.


(c)	The asset-specific credit card allowance for loan losses is related to loans that have been modified in a TDR; such allowance is calculated based on the loans’ original contractual interest rates and does not consider any incremental penalty rates.



(table continued from previous page)
2013													2012
Consumer, excluding credit card			Credit card				Wholesale			Total			Consumer, excluding credit card			Credit card				Wholesale			Total

$	12,292		$	5,501			$	4,143		$	21,936		$	16,294		$	6,999			$	4,316		$	27,609
2,754			4,472				241			7,467			4,805			5,755				346			10,906
(847		)	(593		)		(225		)	(1,665		)	(508		)	(811		)		(524		)	(1,843		)
1,907			3,879				16			5,802			4,297			4,944				(178		)	9,063
53			—				—			53			—			—				—			—
(1,872		)	2,179				(119		)	188			302			3,444				(359		)	3,387
(4		)	(6		)		5			(5		)	(7		)	2				8			3
$	8,456		$	3,795			$	4,013		$	16,264		$	12,292		$	5,501			$	4,143		$	21,936


$	601		$	971		^(c)	$	181		$	1,753		$	729		$	1,681		^(c)	$	319		$	2,729
3,697			2,824				3,832			10,353			5,852			3,820				3,824			13,496
4,158			—				—			4,158			5,711			—				—			5,711
$	8,456		$	3,795			$	4,013		$	16,264		$	12,292		$	5,501			$	4,143		$	21,936


$	13,785		$	3,115			$	845		$	17,745		$	13,938		$	4,762			$	1,475		$	20,175
221,609			124,350				307,412			653,371			218,945			123,231				304,728			646,904
53,055			—				6			53,061			59,737			—				19			59,756
$	288,449		$	127,465			$	308,263		$	724,177		$	292,620		$	127,993			$	306,222		$	726,835


$	235		$	—			$	37		$	272		$	973		$	—			$	77		$	1,050
3,105			—				362			3,467			3,272			—				445			3,717


$	7		$	—			$	661		$	668		$	7		$	—			$	666		$	673
1			—				36			37			—			—				(2		)	(2		)
—			—				—			—			—			—				(3		)	(3		)
$	8		$	—			$	697		$	705		$	7		$	—			$	661		$	668


$	—		$	—			$	60		$	60		$	—		$	—			$	97		$	97
8			—				637			645			7			—				564			571
$	8		$	—			$	697		$	705		$	7		$	—			$	661		$	668


$	—		$	—			$	206		$	206		$	—		$	—			$	355		$	355
56,057			529,383				446,026			1,031,466			60,156			533,018				434,459			1,027,633
$	56,057		$	529,383			$	446,232		$	1,031,672		$	60,156		$	533,018			$	434,814		$	1,027,988