Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2022

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 the reserve for unfunded lending commitments by portfolio type for the three and nine months ended September 30, 2022 and 2021:

ROLLFORWARD OF ALLL & RESERVE FOR UNFUNDED LENDING COMMITMENTS
(Dollars in millions)	Commercial, Financial, and Industrial (a)		Commercial Real Estate		Consumer Real Estate		Credit Card and Other		Total
	Three Months Ended September 30, 2022
Allowance for loan and lease losses:
Balance as of July 1, 2022	$	274	$	141	$	183	$	26	$	624
Charge-offs	(13)		(1)		(1)		(6)		(21)
Recoveries	2		—		6		1		9
Provision for loan and lease losses	32		8		5		7		52
Balance as of September 30, 2022	$	295	$	148	$	193	$	28	$	664
Reserve for remaining unfunded commitments:
Balance as of July 1, 2022	53		17		10		—		80
Provision for remaining unfunded commitments	5		2		1		—		8
Balance as of September 30, 2022	58		19		11		—		88
Allowance for credit losses as of September 30, 2022	$	353	$	167	$	204	$	28	$	752
	Three Months Ended September 30, 2021
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 losses	(7)		(48)		(30)		7		(78)
Balance as of September 30, 2021	$	374	$	162	$	179	$	19	$	734
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
Allowance for credit losses as of September 30, 2021	$	423	$	172	$	188	$	19	$	802

	Nine Months Ended September 30, 2022
Allowance for loan and lease losses:
Balance as of January 1, 2022	$	334	$	154	$	163	$	19	$	670
Charge-offs	(38)		(1)		(4)		(18)		(61)
Recoveries	6		1		17		3		27
Provision for loan and lease losses	(7)		(6)		17		24		28
Balance as of September 30, 2022	$	295	$	148	$	193	$	28	$	664
Reserve for remaining unfunded commitments:
Balance as of January 1, 2022	$	46	$	12	$	8	$	—	$	66
Provision for remaining unfunded commitments	12		7		3		—		22
Balance as of September 30, 2022	58		19		11		—		88
Allowance for credit losses as of September 30, 2022	$	353	$	167	$	204	$	28	$	752
	Nine Months Ended September 30, 2021
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
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
Allowance for credit losses as of September 30, 2021	$	423	$	172	$	188	$	19	$	802

(a) C&I loans as of September 30, 2022 and 2021 include $129 million and $2.0 billion in PPP loans, respectively, 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.