Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2021

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Rollforward Of The Allowance For Loan Losses By Portfolio Segment

The following table provides a rollforward of the ALLL and RULC by portfolio type for the three and nine months ended September 30, 2021 and 2020:

(Dollars in millions)	Commercial, Financial, and Industrial (a)		Commercial Real Estate		Consumer Real Estate		Credit Card and Other		Total
Allowance for loan and lease losses:
Balance as of July 1, 2021	$	385	$	210	$	203	$	17	$	815
Charge-offs	(11)		(2)		(1)		(5)		(19)
Recoveries	7		2		7		—		16
Provision for loan and lease losses	(7)		(48)		(30)		7		(78)
Balance as of September 30, 2021	$	374	$	162	$	179	$	19	$	734
Balance as of July 1, 2020	$	319	$	57	$	144	$	18	$	538
Initial allowance on loans purchased with credit deterioration	138		100		44		5		287
Charge-offs	(69)		(4)		(2)		(3)		(78)
Recoveries	3		2		5		1		11
Provision for loan losses	98		53		74		5		230
Balance as of September 30, 2020	$	489	$	208	$	265	$	26	$	988
Reserve for remaining unfunded commitments:
Balance as of July 1, 2021	$	57	$	9	$	9	$	—	$	75
Provision for remaining unfunded commitments	(8)		1		—		—		(7)
Balance as of September 30, 2021	$	49	$	10	$	9	$	—	$	68
Balance as of July 1, 2020	$	37	$	6	$	8	$	—	$	51
Initial reserve on loans acquired	12		26		3		—		41
Provision for remaining unfunded commitments	(2)		(1)		—		—		(3)
Balance as of September 30, 2020	$	47	$	31	$	11	$	—	$	89
Allowance for loan and lease losses:
Balance as of January 1, 2021	$	453	$	242	$	242	$	26	$	963
Charge-offs	(27)		(5)		(5)		(11)		(48)
Recoveries	18		5		21		3		47
Provision for loan and lease losses	(70)		(80)		(79)		1		(228)
Balance as of September 30, 2021	$	374	$	162	$	179	$	19	$	734
Balance as of January 1, 2020, as adjusted (b)	$	142	$	29	$	121	$	15	$	307
Initial allowance on loans purchased with credit deterioration	138		100		44		5		287
Charge-offs	(95)		(4)		(6)		(10)		(115)
Recoveries	5		3		13		3		24
Provision for loan and lease losses	299		80		93		13		485
Balance as of September 30, 2020	$	489	$	208	$	265	$	26	$	988
Reserve for remaining unfunded commitments:
Balance as of January 1, 2021	$	65	$	10	$	10	$	—	$	85
Provision for remaining unfunded commitments	(16)		—		(1)		—		(17)
Balance as of September 30, 2021	$	49	$	10	$	9	$	—	$	68
Balance as of January 1, 2020, as adjusted (b)	$	21	$	4	$	6	$	—	$	31
Initial reserve on loans acquired	12		26		3		—		41
Provision for remaining unfunded commitments	14		1		2		—		17
Balance as of September 30, 2020	$	47	$	31	$	11	$	—	$	89

(a) C&I loans as of September 30, 2021 include $2.0 billion in PPP loans which due to the government guarantee and forgiveness provisions are considered to have no credit risk and therefore have no allowance for loan and lease losses.

(b) Balance, as adjusted, reflects the adoption of ASU 2016-13 (CECL) effective January 1, 2020.