Consumer loans, excluding credit card loans, consist primarily of scored residential mortgages, home equity loans and lines of credit, auto and business banking loans, with a focus on serving the prime consumer credit market. The portfolio also includes home equity loans secured by junior liens, prime mortgage loans with an interest-only payment period and certain payment-option loans that may result in negative amortization.

The following table provides information about retained consumer loans, excluding credit card, by class.


(in millions)	March 31, 2023		December 31, 2022
Residential real estate	$	236,115	$	237,561
Auto and other	64,332		63,192
Total retained loans	$	300,447	$	300,753

Delinquency rates are the primary credit quality indicator for consumer loans. Refer to Note 12 of JPMorgan Chase's 2022 Form 10-K for further information on consumer credit quality indicators.

Residential real estate

Delinquency is the primary credit quality indicator for retained residential real estate loans. The following tables provide information on delinquency and gross charge-offs for the three months ended March 31, 2023.


(in millions, except ratios)	March 31, 2023
	Term loans by origination year(d)																		Revolving loans						Total
	2023			2022			2021			2020			2019			Prior to 2019			Within the revolving period			Converted to term loans
Loan delinquency(a)(b)
Current	$	2,613		$	39,656		$	65,294		$	42,762		$	15,103		$	54,592		$	5,265		$	9,237		$	234,522
30–149 days past due	—			21			14			13			20			605			16			216			905
150 or more days past due	—			1			2			5			11			497			2			170			688
Total retained loans	$	2,613		$	39,678		$	65,310		$	42,780		$	15,134		$	55,694		$	5,283		$	9,623		$	236,115
% of 30+ days past due to total retained loans(c)	—		%	0.06		%	0.02		%	0.04		%	0.20		%	1.94		%	0.34		%	4.01		%	0.67		%
Gross charge-offs	$	—		$	—		$	—		$	—		$	—		$	7		$	8		$	3		$	18


(in millions, except ratios)	December 31, 2022
	Term loans by origination year(d)																		Revolving loans						Total
	2022			2021			2020			2019			2018			Prior to 2018			Within the revolving period			Converted to term loans
Loan delinquency(a)(b)
Current	$	39,934		$	66,072		$	43,315		$	15,397		$	6,339		$	49,632		$	5,589		$	9,685		$	235,963
30–149 days past due	29			11			14			20			20			597			15			208			914
150 or more days past due	1			1			6			10			7			480			4			175			684
Total retained loans	$	39,964		$	66,084		$	43,335		$	15,427		$	6,366		$	50,709		$	5,608		$	10,068		$	237,561
% of 30+ days past due to total retained loans(c)	0.08		%	0.02		%	0.05		%	0.19		%	0.42		%	2.07		%	0.34		%	3.80		%	0.66		%

(a)Individual delinquency classifications include mortgage loans insured by U.S. government agencies which were not material at March 31, 2023 and December 31, 2022

(b)At March 31, 2023 and December 31, 2022, loans under payment deferral programs offered in response to the COVID-19 pandemic which are still within their deferral period and performing according to their modified terms are generally not considered delinquent.

(c)Excludes mortgage loans that are 30 or more days past due insured by U.S. government agencies which were not material at March 31, 2023 and December 31, 2022. These amounts have been excluded based upon the government guarantee.

(d)Purchased loans are included in the year in which they were originated.

Approximately 37% of the total revolving loans are senior lien loans; the remaining balance are junior lien loans. The lien position the Firm holds is considered in the Firm’s allowance for credit losses. Revolving loans that have been converted to term loans have higher delinquency rates than those that are still within the revolving period. That is primarily because the fully-amortizing payment that is generally required for those products is higher than the minimum payment options available for revolving loans within the revolving period.

Nonaccrual loans and other credit quality indicators

The following table provides information on nonaccrual and other credit quality indicators for retained residential real estate loans.


(in millions, except weighted-average data)	March 31, 2023			December 31, 2022
Nonaccrual loans(a)(b)(c)(d)(e)	$	3,710		$	3,745

Current estimated LTV ratios(f)(g)(h)
Greater than 125% and refreshed FICO scores:
Equal to or greater than 660	$	4		$	2
Less than 660	2			—
101% to 125% and refreshed FICO scores:
Equal to or greater than 660	196			174
Less than 660	5			6
80% to 100% and refreshed FICO scores:
Equal to or greater than 660	12,774			12,034
Less than 660	250			184
Less than 80% and refreshed FICO scores:
Equal to or greater than 660	213,157			215,096
Less than 660	8,823			8,659
No FICO/LTV available	904			1,406			(k)
Total retained loans	$	236,115		$	237,561

Weighted average LTV ratio(f)(i)	51		%	51		%
Weighted average FICO(g)(i)	770			769

Geographic region(j)(k)
California	$	72,610		$	73,112
New York	34,271			34,471
Florida	18,877			18,870
Texas	14,899			14,968
Illinois	11,133			11,296
Colorado	9,979			9,968
Washington	9,043			9,060
New Jersey	7,013			7,108
Massachusetts	6,352			6,380
Connecticut	5,408			5,432
All other	46,530			46,896
Total retained loans	$	236,115		$	237,561

(a)Includes collateral-dependent residential real estate loans that are charged down to the fair value of the underlying collateral less costs to sell. The Firm reports, in accordance with regulatory guidance, residential real estate loans that have been discharged under Chapter 7 bankruptcy and not reaffirmed by the borrower (“Chapter 7 loans”) as collateral-dependent nonaccrual loans, regardless of their delinquency status. At March 31, 2023, approximately 9% of Chapter 7 residential real estate loans were 30 days or more past due.

(b)Mortgage loans insured by U.S. government agencies excluded from nonaccrual loans were not material at March 31, 2023 and December 31, 2022.

(c)Generally, all consumer nonaccrual loans have an allowance. In accordance with regulatory guidance, certain nonaccrual loans that are considered collateral-dependent have been charged down to the lower of amortized cost or the fair value of their underlying collateral less costs to sell. If the value of the underlying collateral improves subsequent to charge down, the related allowance may be negative.

(d)Interest income on nonaccrual loans recognized on a cash basis was $45 million for both the three months ended March 31, 2023 and 2022, respectively.

(e)Generally excludes loans under payment deferral programs offered in response to the COVID-19 pandemic.

(f)Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quarterly, based on home valuation models using nationally recognized home price index valuation estimates incorporating actual data to the extent available and forecasted data where actual data is not available. Current estimated combined LTV for junior lien home equity loans considers all available lien positions, as well as unused lines, related to the property.

(g)Refreshed FICO scores represent each borrower’s most recent credit score, which is obtained by the Firm on at least a quarterly basis.

(h)Includes residential real estate loans, primarily held in LLCs in AWM that did not have a refreshed FICO score. These loans have been included in a FICO band based on management’s estimation of the borrower’s credit quality.

(i)Excludes loans with no FICO and/or LTV data available.

(j)The geographic regions presented in the table are ordered based on the magnitude of the corresponding loan balances at March 31, 2023.

(k)Prior-period amount has been revised to conform with the current presentation.

Loan modifications

The Firm grants certain modifications of residential real estate loans to borrowers experiencing financial difficulty, which effective January 1, 2023, are reported as FDMs. The Firm's proprietary modification programs as well as government programs, including U.S. GSE programs, generally provide various modifications to borrowers experiencing financial difficulty including, but not limited to, interest rate reductions, term extensions, other-than-insignificant payment delay and principal forgiveness that would otherwise have been required under the terms of the original agreement, are considered FDMs.

For the three months ended March 31, 2023, residential real estate FDMs were $38 million. The financial effects of the FDMs, which were largely in the form of term extensions and interest rate reductions, included extending the weighted-average life of the loans up to 24 years, and reducing the weighted-average contractual interest rate from 5.84% to 3.57%. There were no additional commitments to lend to borrowers experiencing financial difficulty whose loans have been modified as FDMs. In addition to FDMs, the Firm also had $23 million of loans subject to a trial modification, and $2 million of Chapter 7 loans. The changes to the TDR accounting guidance eliminated the TDR reasonably expected and concession assessment criteria. Accordingly, trial modifications and Chapter 7 loans were considered TDRs, but not FDMs.

For periods ending prior to January 1, 2023, modifications of residential real estate loans where the Firm granted concessions to borrowers who were experiencing financial difficulty were generally accounted for and reported as TDRs. For the three months ended March 31, 2022, new TDRs were $118 million. There were no additional commitments to lend to borrowers whose residential real estate loans have been modified in TDRs. Refer to Note 12 of JPMorgan Chase's 2022 Form 10-K for further information on TDRs.

Nature and extent of modifications

The following table provides information about how residential real estate loans were modified in TDRs during the period presented.


	Three months ended March 31,
	2022
Number of loans approved for a trial modification	1,526
Number of loans permanently modified	1,542
Concession granted:(a)
Interest rate reduction	64	%
Term or payment extension	77
Principal and/or interest deferred	13
Principal forgiveness	1
Other(b)	27

(a)Represents concessions granted in permanent modifications as a percentage of the number of loans permanently modified. The sum of the percentages exceeds 100% because predominantly all of the modifications include more than one type of concession. Concessions offered on trial modifications are generally consistent with those granted on permanent modifications.

(b)Includes variable interest rate to fixed interest rate modifications and payment delays that meet the definition of a TDR.

Financial effects of modifications and redefaults

The following table provides information about the financial effects of the various concessions granted in modifications of residential real estate loans and about redefaults of certain loans modified in TDRs for the period presented.


(in millions, except weighted-average data)	Three months ended March 31,
	2022
Weighted-average interest rate of loans with interest rate reductions – before TDR	4.43		%
Weighted-average interest rate of loans with interest rate reductions – after TDR	3.31
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – before TDR	23
Weighted-average remaining contractual term (in years) of loans with term or payment extensions – after TDR	39
Charge-offs recognized upon permanent modification	$	—
Principal deferred	7
Principal forgiven	1
Balance of loans that redefaulted within one year of permanent modification(a)	$	43

(a)Represents loans permanently modified in TDRs that experienced a payment default in the period presented, and for which the payment default occurred within one year of the modification. The dollar amount presented represents the balance of such loans at the end of the reporting period in which such loans defaulted.

Active and suspended foreclosure

At March 31, 2023 and December 31, 2022, the Firm had residential real estate loans, excluding those insured by U.S. government agencies, with a carrying value of $580 million and $565 million, respectively, that were not included in REO, but were in the process of active or suspended foreclosure.

Auto and other

Delinquency is the primary credit quality indicator for retained auto and other loans. The following tables provide information on delinquency and gross charge-offs for the three months ended March 31, 2023.


	March 31, 2023
(in millions, except ratios)	Term loans by origination year																		Revolving loans
	2023			2022			2021			2020			2019			Prior to 2019			Within the revolving period			Converted to term loans			Total
Loan delinquency
Current	$	7,994		$	19,938		$	18,215		$	10,071		$	3,350		$	1,468		$	2,427		$	111		$	63,574
30–119 days past due	71			212			217			76			52			35			12			19			694
120 or more days past due	—			—			36			17			—			1			2			8			64
Total retained loans	$	8,065		$	20,150		$	18,468		$	10,164		$	3,402		$	1,504		$	2,441		$	138		$	64,332
% of 30+ days past due to total retained loans(a)	0.88		%	1.05		%	1.12		%	0.74		%	1.53		%	2.39		%	0.57		%	19.57		%	1.08		%
Gross charge-offs	$	27		$	112		$	41		$	14		$	9		$	14		$	—		$	—		$	217


	December 31, 2022
(in millions, except ratios)	Term loans by origination year																		Revolving loans
	2022			2021			2020			2019			2018			Prior to 2018			Within the revolving period			Converted to term loans			Total
Loan delinquency
Current	$	22,187		$	20,212		$	11,401		$	3,991		$	1,467		$	578		$	2,342		$	118		$	62,296
30–119 days past due	263			308			100			68			33			17			12			10			811
120 or more days past due	—			53			24			—			—			1			2			5			85
Total retained loans	$	22,450		$	20,573		$	11,525		$	4,059		$	1,500		$	596		$	2,356		$	133		$	63,192
% of 30+ days past due to total retained loans(a)	1.17		%	1.15		%	0.83		%	1.68		%	2.20		%	3.02		%	0.59		%	11.28		%	1.18		%

(a)At March 31, 2023 and December 31, 2022, auto and other loans excluded $65 million and $153 million, respectively, of PPP loans guaranteed by the SBA that are 30 or more days past due. These amounts have been excluded based upon the SBA guarantee.

Nonaccrual and other credit quality indicators

The following table provides information on nonaccrual and other credit quality indicators for retained auto and other consumer loans.


(in millions)	Total Auto and other
	March 31, 2023		December 31, 2022
Nonaccrual loans(a)(b)(c)	$	133	$	129

Geographic region(d)
California	$	9,736	$	9,689
Texas	7,434		7,216
Florida	5,013		4,847
New York	4,411		4,345
Illinois	2,916		2,839
New Jersey	2,292		2,219
Pennsylvania	1,823		1,822
Georgia	1,760		1,708
Ohio	1,631		1,603
Arizona	1,570		1,551
All other	25,746		25,353
Total retained loans	$	64,332	$	63,192

(a)At March 31, 2023 and December 31, 2022, nonaccrual loans excluded $54 million and $101 million, respectively, of PPP loans 90 or more days past due and guaranteed by the SBA, of which $53 million and $76 million, respectively, were no longer accruing interest based on the guidelines set by the SBA. Typically the principal balance of the loans is insured and interest is guaranteed at a specified reimbursement rate subject to meeting the guidelines set by the SBA. There were no loans that were not guaranteed by the SBA that are 90 or more days past due and still accruing interest at March 31, 2023 and December 31, 2022.

(b)Generally, all consumer nonaccrual loans have an allowance. In accordance with regulatory guidance, certain nonaccrual loans that are considered collateral-dependent have been charged down to the lower of amortized cost or the fair value of their underlying collateral less costs to sell. If the value of the underlying collateral improves subsequent to charge down, the related allowance may be negative.

(c)Interest income on nonaccrual loans recognized on a cash basis was not material for the three months ended March 31, 2023 and 2022.

(d)The geographic regions presented in this table are ordered based on the magnitude of the corresponding loan balances at March 31, 2023.

Loan modifications

The Firm grants certain modifications of auto and other loans to borrowers experiencing financial difficulty, which effective January 1, 2023, are reported as FDMs. For the three months ended March 31, 2023, auto and other FDMs were not material and there were no additional commitments to lend to borrowers modified as FDMs.

For the three months ended March 31, 2022, auto and other TDRs were not material.

Credit card loan portfolio

The credit card portfolio segment includes credit card loans originated and purchased by the Firm. Delinquency rates are the primary credit quality indicator for credit card loans.

Refer to Note 12 of JPMorgan Chase's 2022 Form 10-K for further information on the credit card loan portfolio, including credit quality indicators.

The following tables provide information on delinquency and gross charge-offs for the three months ended March 31, 2023.


(in millions, except ratios)	March 31, 2023
	Within the revolving period			Converted to term loans			Total
Loan delinquency
Current and less than 30 days past due and still accruing	$	176,353		$	702		$	177,055
30–89 days past due and still accruing	1,462			65			1,527
90 or more days past due and still accruing	1,464			33			1,497
Total retained loans	$	179,279		$	800		$	180,079
Loan delinquency ratios
% of 30+ days past due to total retained loans	1.63		%	12.25		%	1.68		%
% of 90+ days past due to total retained loans	0.82			4.13			0.83
Gross charge-offs	$	1,075		$	36		$	1,111


(in millions, except ratios)	December 31, 2022
	Within the revolving period			Converted to term loans			Total
Loan delinquency
Current and less than 30 days past due and still accruing	$	181,793		$	696		$	182,489
30–89 days past due and still accruing	1,356			64			1,420
90 or more days past due and still accruing	1,230			36			1,266
Total retained loans	$	184,379		$	796		$	185,175
Loan delinquency ratios
% of 30+ days past due to total retained loans	1.40		%	12.56		%	1.45		%
% of 90+ days past due to total retained loans	0.67			4.52			0.68

Other credit quality indicators

The following table provides information on other credit quality indicators for retained credit card loans.


(in millions, except ratios)	March 31, 2023			December 31, 2022
Geographic region(a)
California	$	27,424		$	28,154
Texas	18,924			19,171
New York	14,657			15,046
Florida	12,778			12,905
Illinois	9,781			10,089
New Jersey	7,410			7,643
Ohio	5,545			5,792
Colorado	5,420			5,493
Pennsylvania	5,231			5,517
Arizona	4,392			4,487
All other	68,517			70,878
Total retained loans	$	180,079		$	185,175
Percentage of portfolio based on carrying value with estimated refreshed FICO scores
Equal to or greater than 660	85.3		%	86.8		%
Less than 660	14.5			13.0
No FICO available	0.2			0.2

(a)The geographic regions presented in the table are ordered based on the magnitude of the corresponding loan balances at March 31, 2023.

Loan modifications

The Firm grants certain modifications of credit card loans to borrowers experiencing financial difficulty, which effective January 1, 2023, are reported as FDMs. These modifications involve placing the customer on a fixed payment plan, generally for 60 months, and typically include reducing the interest rate on the credit card under long-term programs. If the cardholder does not comply with the modified payment terms, then the credit card loan continues to age and will ultimately be charged-off in accordance with the Firm's standard charge-off policy. In most cases, the Firm does not reinstate the borrower's line of credit.

The following table provides information on credit card loan modifications considered FDMs.


Three months ended March 31, 2023 (in millions)	Amortized cost basis		% of loan modifications to total retained credit card loans		Financial effect of loan modification

Loan modification
Term extension and interest rate reduction(a)(b)	$	163	0.09	%	Term extension with a reduction in the weighted average contractual interest rate from 22.62% to 3.5%
Total	$	163

(a)Term extension includes credit card loans whose terms have been modified under long-term programs by placing the customer on a fixed payment plan.

(b)The interest rates represent weighted average at enrollment.

For the period ended March 31, 2023, the Firm also had $24 million of loans subject to a trial modification. The changes to the TDR accounting guidance eliminated the TDR reasonably expected and concession assessment criteria. Accordingly, trial modifications are not considered FDMs.

The following table provides information on the payment status of FDMs.


March 31, 2023 (in millions)	Amortized cost basis

Current and less than 30 days past due and still accruing	$	113
30-89 days past due and still accruing	30
90 or more days past due and still accruing	20
Total	$	163

There were no FDMs that re-defaulted during the three months ended March 31, 2023.

For credit card loans modified as FDMs, payment default is deemed to have occurred when the borrower misses two consecutive contractual payments. Defaulted modified credit card loans remain in the modification program and continue to be charged off in accordance with the Firm's standard charge-off policy.

For periods ending prior to January 1, 2023, modifications of credit card loans where the Firm granted concessions to borrowers who were experiencing financial difficulty were generally accounted for and reported as TDRs. Refer to Note 12 of JPMorgan Chase's 2022 Form 10-K for further information on TDRs.

Financial effects of modifications and redefaults

The following table provides information about the financial effects of the concessions granted on credit card loans modified in TDRs and redefaults. New enrollments were less than 1% of total retained credit card loans.


(in millions, except weighted-average data)	Three months ended March 31,
	2022
Balance of new TDRs(a)	$	82
Weighted-average interest rate of loans – before TDR	18.00		%
Weighted-average interest rate of loans – after TDR	4.87
Balance of loans that redefaulted within one year of modification(b)	$	9

(a)Represents the outstanding balance prior to modification.

(b)Represents loans modified in TDRs that experienced a payment default in the period presented, and for which the payment default occurred within one year of the modification. The amount presented represents the balance of such loans as of the end of the quarter in which they defaulted.

Wholesale loan portfolio

Wholesale loans include loans made to a variety of clients, ranging from large corporate and institutional clients, to small businesses and high-net-worth individuals. The primary credit quality indicator for wholesale loans is the internal risk rating assigned to each loan. Refer to Note 12 of JPMorgan Chase’s 2022 Form 10-K for further information on these risk ratings.

Internal risk rating is the primary credit quality indicator for retained wholesale loans. The following tables provide information on internal risk rating and gross charge-offs for the three months ended March 31, 2023.


	Secured by real estate						Commercial and industrial						Other(a)						Total retained loans
(in millions, except ratios)	Mar 31, 2023			Dec 31, 2022			Mar 31, 2023			Dec 31, 2022			Mar 31, 2023			Dec 31, 2022			Mar 31, 2023			Dec 31, 2022
Loans by risk ratings
Investment-grade	$	99,301		$	99,552		$	76,797		$	76,275		$	248,757		$	249,585		$	424,855		$	425,412
Noninvestment-grade:
Noncriticized	23,550			23,272			80,992			81,393			57,487			57,888			162,029			162,553
Criticized performing	4,200			3,662			9,696			8,974			1,333			1,106			15,229			13,742
Criticized nonaccrual	338			246			1,263			1,018			610			699			2,211			1,963
Total noninvestment-grade	28,088			27,180			91,951			91,385			59,430			59,693			179,469			178,258
Total retained loans	$	127,389		$	126,732		$	168,748		$	167,660		$	308,187		$	309,278		$	604,324		$	603,670
% of investment-grade to total retained loans	77.95		%	78.55		%	45.51		%	45.49		%	80.72		%	80.70		%	70.30		%	70.47		%
% of total criticized to total retained loans	3.56			3.08			6.49			5.96			0.63			0.58			2.89			2.60
% of criticized nonaccrual to total retained loans	0.27			0.19			0.75			0.61			0.20			0.23			0.37			0.33

(a)Includes loans to financial institutions, states and political subdivisions, SPEs, nonprofits, personal investment companies and trusts, as well as loans to individuals and individual entities (predominantly Global Private Bank clients within AWM and J.P. Morgan Wealth Management within CCB). Refer to Note 14 of JPMorgan Chase’s 2022 Form 10-K for more information on SPEs.


	Secured by real estate
(in millions)	March 31, 2023
	Term loans by origination year												Revolving loans
	2023		2022		2021		2020		2019		Prior to 2019		Within the revolving period		Converted to term loans		Total
Loans by risk ratings
Investment-grade	$	1,691	$	23,975	$	22,370	$	14,280	$	14,266	$	21,517	$	1,202	$	—	$	99,301
Noninvestment-grade	839		6,546		5,805		3,022		3,633		7,628		614		1		28,088
Total retained loans	$	2,530	$	30,521	$	28,175	$	17,302	$	17,899	$	29,145	$	1,816	$	1	$	127,389
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	8	$	—	$	—	$	8


	Secured by real estate
(in millions)	December 31, 2022
	Term loans by origination year												Revolving loans
	2022		2021		2020		2019		2018		Prior to 2018		Within the revolving period		Converted to term loans		Total
Loans by risk ratings
Investment-grade	$	24,134	$	22,407	$	14,773	$	14,666	$	5,277	$	17,289	$	1,006	$	—	$	99,552
Noninvestment-grade	6,072		5,602		3,032		3,498		2,395		5,659		920		2		27,180
Total retained loans	$	30,206	$	28,009	$	17,805	$	18,164	$	7,672	$	22,948	$	1,926	$	2	$	126,732


	Commercial and industrial
(in millions)	March 31, 2023
	Term loans by origination year												Revolving loans
	2023		2022		2021		2020		2019		Prior to 2019		Within the revolving period		Converted to term loans		Total
Loans by risk ratings
Investment-grade	$	8,780	$	14,073	$	7,567	$	2,643	$	1,396	$	1,450	$	40,887	$	1	$	76,797
Noninvestment-grade	5,745		20,505		11,161		2,988		2,154		1,409		47,906		83		91,951
Total retained loans	$	14,525	$	34,578	$	18,728	$	5,631	$	3,550	$	2,859	$	88,793	$	84	$	168,748
Gross charge-offs	$	—	$	—	$	16	$	1	$	2	$	3	$	63	$	1	$	86


	Commercial and industrial
(in millions)	December 31, 2022
	Term loans by origination year												Revolving loans
	2022		2021		2020		2019		2018		Prior to 2018		Within the revolving period		Converted to term loans		Total
Loans by risk ratings
Investment-grade	$	21,072	$	8,338	$	3,045	$	1,995	$	748	$	989	$	40,087	$	1	$	76,275
Noninvestment-grade	24,088		12,444		3,459		2,506		525		1,014		47,267		82		91,385
Total retained loans	$	45,160	$	20,782	$	6,504	$	4,501	$	1,273	$	2,003	$	87,354	$	83	$	167,660


	Other(a)
(in millions)	March 31, 2023
	Term loans by origination year												Revolving loans
	2023		2022		2021		2020		2019		Prior to 2019		Within the revolving period		Converted to term loans		Total
Loans by risk ratings
Investment-grade	$	10,340	$	25,435	$	14,913	$	12,359	$	4,370	$	8,158	$	170,325	$	2,857	$	248,757
Noninvestment-grade	2,794		14,432		6,165		1,692		692		830		32,821		4		59,430
Total retained loans	$	13,134	$	39,867	$	21,078	$	14,051	$	5,062	$	8,988	$	203,146	$	2,861	$	308,187
Gross charge-offs	$	—	$	—	$	5	$	5	$	—	$	—	$	1	$	—	$	11


	Other(a)
(in millions)	December 31, 2022
	Term loans by origination year												Revolving loans
	2022		2021		2020		2019		2018		Prior to 2018		Within the revolving period		Converted to term loans		Total
Loans by risk ratings
Investment-grade	$	32,121	$	15,864	$	13,015	$	4,529	$	2,159	$	7,251	$	171,049	$	3,597	$	249,585
Noninvestment-grade	16,829		7,096		1,821		699		451		475		32,240		82		59,693
Total retained loans	$	48,950	$	22,960	$	14,836	$	5,228	$	2,610	$	7,726	$	203,289	$	3,679	$	309,278

The following table presents additional information on retained loans secured by real estate, which consists of loans secured wholly or substantially by a lien or liens on real property at origination.


(in millions, except ratios)	Multifamily						Other commercial						Total retained loans secured by real estate
	Mar 31, 2023			Dec 31, 2022			Mar 31, 2023			Dec 31, 2022			Mar 31, 2023			Dec 31, 2022
Retained loans secured by real estate	$	79,374		$	79,139		$	48,015		$	47,593		$	127,389		$	126,732
Criticized	2,212			1,916			2,326			1,992			4,538			3,908
% of criticized to total retained loans secured by real estate	2.79		%	2.42		%	4.84		%	4.19		%	3.56		%	3.08		%
Criticized nonaccrual	$	60		$	51		$	278		$	195		$	338		$	246
% of criticized nonaccrual loans to total retained loans secured by real estate	0.08		%	0.06		%	0.58		%	0.41		%	0.27		%	0.19		%

Geographic distribution and delinquency

The following table provides information on the geographic distribution and delinquency for retained wholesale loans.


	Secured by real estate				Commercial and industrial				Other				Total retained loans
(in millions)	Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022
Loans by geographic distribution(a)
Total U.S.	$	124,360	$	123,740	$	127,826	$	125,324	$	229,930	$	230,525	$	482,116	$	479,589
Total non-U.S.	3,029		2,992		40,922		42,336		78,257		78,753		122,208		124,081
Total retained loans	$	127,389	$	126,732	$	168,748	$	167,660	$	308,187	$	309,278	$	604,324	$	603,670
Loan delinquency
Current and less than 30 days past due and still accruing	$	126,781	$	126,083	$	166,249	$	165,415	$	305,985	$	307,511	$	599,015	$	599,009
30–89 days past due and still accruing	270		402		1,160		1,127		1,527		1,015		2,957		2,544
90 or more days past due and still accruing(b)	—		1		76		100		65		53		141		154
Criticized nonaccrual	338		246		1,263		1,018		610		699		2,211		1,963
Total retained loans	$	127,389	$	126,732	$	168,748	$	167,660	$	308,187	$	309,278	$	604,324	$	603,670

(a)The U.S. and non-U.S. distribution is determined based predominantly on the domicile of the borrower.

(b)Represents loans that are considered well-collateralized and therefore still accruing interest.

Nonaccrual loans

The following table provides information on retained wholesale nonaccrual loans.


(in millions)	Secured by real estate				Commercial and industrial				Other				Total retained loans
	Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022
Nonaccrual loans
With an allowance	$	219	$	172	$	795	$	686	$	384	$	487	$	1,398	$	1,345
Without an allowance(a)	119		74		468		332		226		212		813		618
Total nonaccrual loans(b)	$	338	$	246	$	1,263	$	1,018	$	610	$	699	$	2,211	$	1,963

(a)When the discounted cash flows or collateral value equals or exceeds the amortized cost of the loan, the loan does not require an allowance. This typically occurs when the loans have been partially charged off and/or there have been interest payments received and applied to the loan balance.

(b)Interest income on nonaccrual loans recognized on a cash basis was not material for the three months ended March 31, 2023 and 2022.

Loan modifications

The Firm grants certain modifications of wholesale loans to borrowers experiencing financial difficulty, which effective January 1, 2023, are reported as FDMs. The following table provides information about Commercial and industrial loan modifications considered FDMs.


Three months ended March 31, 2023 (in millions)	Commercial and industrial
	Amortized cost basis		% of loan modifications to total retained commercial and industrial wholesale loans		Financial effect of loan modification
Loan modification
Single modifications

Term extension	$	280	0.17	%	Extended loans by a weighted-average of 8 months

Other-than-insignificant payment delay	49		0.03	%	Provided payment deferrals with delayed amounts primarily added to end of the original loan terms
Multiple modifications
Term extension and principal forgiveness	$	44	0.03	%	Extended loans by a weighted-average of 64 months and reduced amortized cost basis of the loans by $23 million
Total	$	373

The following table provides information on the payment status of Commercial and industrial FDMs.


As of March 31, 2023 (in millions)	Amortized cost basis

Current and less than 30 days past due and still accruing	$	212
30-89 days past due and still accruing	4
90 or more days past due and still accruing	—
Criticized nonaccrual	157
Total	$	373

The following table provides information on Commercial and industrial FDMs that re-defaulted during the three months ended March 31, 2023.


Three months ended March 31, 2023 (in millions)	Amortized cost basis

Loan modification

Term extension	4



Total(a)	$	4

(a)Represents FDMs that were 30 days or more past due at March 31, 2023.

As of March 31, 2023, additional commitments to lend to borrowers experiencing financial difficulty whose Commercial and industrial loans have been modified as FDMs were $909 million.

FDMs to borrowers in the Other loan class were $63 million for the three months ended March 31, 2023. The financial effect of FDMs extended the loans by a weighted-average of four months and were generally in the form of term extensions. There were no additional commitments to borrowers experiencing financial difficulty whose loans have been modified as FDMs.

For the three months ended March 31, 2023, Secured by real estate FDMs were not material and there were no additional commitments to lend to borrowers experiencing financial difficulty whose loans have been modified as FDMs.

Prior to January 1, 2023, certain loan modifications were considered TDRs.

For the three months ended March 31, 2022, new TDRs were $418 million and reflected the extension of maturity dates, covenant waivers, receipt of assets in partial satisfaction of the loan and deferral of principal and interest payments, predominantly in the Commercial and Industrial and Other loan classes. For the three months ended March 31, 2022, the impact of these modifications were not material to the Firm.

As a result of the elimination of the requirement to assess whether a modification is reasonably expected or involves a concession, the population of loans considered FDMs is greater than those previously considered TDRs.