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Outstanding Loans and Leases and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2020
Receivables [Abstract]  
Schedule of Loans and Leases Outstanding
The following tables present total outstanding loans and leases and an aging analysis for the Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at September 30, 2020 and December 31, 2019.
30-59 Days Past Due (1)
60-89 Days Past Due (1)
90 Days or
More
Past Due (1)
Total Past
Due 30 Days
or More
Total Current or Less Than 30 Days Past Due (1)
Loans Accounted for Under the Fair Value OptionTotal
Outstandings
(Dollars in millions)September 30, 2020
Consumer real estate      
Core portfolio
Residential mortgage
$1,244 $280 $829 $2,353 $221,542 $223,895 
Home equity129 77 261 467 31,871 32,338 
Non-core portfolio
Residential mortgage308 126 964 1,398 7,425 8,823 
Home equity29 20 76 125 4,067 4,192 
Credit card and other consumer
Credit card486 238 546 1,270 78,564 79,834 
Direct/Indirect consumer (2)
209 58 31 298 89,616 89,914 
Other consumer— — — — 140 140 
Total consumer2,405 799 2,707 5,911 433,225 439,136 
Consumer loans accounted for under the fair value option (3)
     $657 657 
Total consumer loans and leases2,405 799 2,707 5,911 433,225 657 439,793 
Commercial
U.S. commercial500 213 558 1,271 292,663 293,934 
Non-U.S. commercial80 22 28 130 96,021 96,151 
Commercial real estate (4)
58 3 206 267 62,187 62,454 
Commercial lease financing67 92 42 201 17,212 17,413 
U.S. small business commercial (5)
71 51 83 205 38,645 38,850 
Total commercial776 381 917 2,074 506,728 508,802 
Commercial loans accounted for under the fair value option (3)
     6,577 6,577 
Total commercial loans and leases776 381 917 2,074 506,728 6,577 515,379 
Total loans and leases (6)
$3,181 $1,180 $3,624 $7,985 $939,953 $7,234 $955,172 
Percentage of outstandings 0.33 %0.12 %0.38 %0.83 %98.41 %0.76 %100.00 %
(1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $258 million and nonperforming loans of $132 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $118 million and nonperforming loans of $96 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $1.0 billion. Consumer real estate loans current or less than 30 days past due includes $793 million and direct/indirect consumer includes $38 million of nonperforming loans. For information on the Corporation's interest accrual policies and delinquency status for loan modifications related to the COVID-19 pandemic, see Note 1 – Summary of Significant Accounting Principles.
(2)Total outstandings primarily includes auto and specialty lending loans and leases of $47.1 billion, U.S. securities-based lending loans of $39.0 billion and non-U.S. consumer loans of $2.9 billion.
(3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $314 million and home equity loans of $343 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $3.4 billion and non-U.S. commercial loans of $3.2 billion. For more information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option.
(4)Total outstandings includes U.S. commercial real estate loans of $58.7 billion and non-U.S. commercial real estate loans of $3.7 billion.
(5)Includes PPP loans.
(6)Total outstandings includes loans and leases pledged as collateral of $15.9 billion. The Corporation also pledged $158.4 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank.
30-59 Days
Past Due (1)
60-89 Days Past Due (1)
90 Days or
More
Past Due (1)
Total Past
Due 30 Days
or More
Total
Current or
Less Than
30 Days
Past Due (1)
Loans
Accounted
for Under
the Fair
Value Option		Total Outstandings
(Dollars in millions)December 31, 2019
Consumer real estate      
Core portfolio
Residential mortgage$1,378 $261 $565 $2,204 $223,566  $225,770 
Home equity135 70 198 403 34,823  35,226 
Non-core portfolio       
Residential mortgage458 209 1,263 1,930 8,469  10,399 
Home equity34 16 72 122 4,860  4,982 
Credit card and other consumer       
Credit card564 429 1,042 2,035 95,573  97,608 
Direct/Indirect consumer (2)
297 85 35 417 90,581  90,998 
Other consumer — — — — 192  192 
Total consumer2,866 1,070 3,175 7,111 458,064 465,175 
Consumer loans accounted for under the fair value option (3)
$594 594 
Total consumer loans and leases2,866 1,070 3,175 7,111 458,064 594 465,769 
Commercial       
U.S. commercial788 279 371 1,438 305,610  307,048 
Non-U.S. commercial35 23 8 66 104,900  104,966 
Commercial real estate (4)
144 19 119 282 62,407  62,689 
Commercial lease financing100 56 39 195 19,685  19,880 
U.S. small business commercial119 56 107 282 15,051  15,333 
Total commercial1,186 433 644 2,263 507,653  509,916 
Commercial loans accounted for under the fair value option (3)
7,741 7,741 
Total commercial loans and leases
1,186 433 644 2,263 507,653 7,741 517,657 
Total loans and leases (5)
$4,052 $1,503 $3,819 $9,374 $965,717 $8,335 $983,426 
Percentage of outstandings 0.41 %0.15 %0.39 %0.95 %98.20 %0.85 %100.00 %
(1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $517 million and nonperforming loans of $139 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $206 million and nonperforming loans of $114 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $1.1 billion. Consumer real estate loans current or less than 30 days past due includes $856 million and direct/indirect consumer includes $45 million of nonperforming loans.
(2)Total outstandings primarily includes auto and specialty lending loans and leases of $50.4 billion, U.S. securities-based lending loans of $36.7 billion and non-U.S. consumer loans of $2.8 billion.
(3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $257 million and home equity loans of $337 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $4.7 billion and non-U.S. commercial loans of $3.1 billion. For more information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option.
(4)Total outstandings includes U.S. commercial real estate loans of $59.0 billion and non-U.S. commercial real estate loans of $3.7 billion.
(5)Total outstandings includes loans and leases pledged as collateral of $25.9 billion. The Corporation also pledged $168.2 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank.
Schedule of Financing Receivables, Non Accrual Status The table below presents the Corporation’s nonperforming loans and leases including nonperforming TDRs, and loans accruing past due 90 days or more at September 30, 2020 and December 31, 2019. Nonperforming loans held-for-sale (LHFS) are excluded from nonperforming loans and leases as they are recorded at either fair value or the lower of cost or fair value. For information on the Corporation's interest accrual policies and delinquency status for loan modifications related to the COVID-19 pandemic, see Note 1 – Summary of Significant Accounting Principles. For more information on the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2019 Annual Report on Form 10-K.
Credit Quality
Nonperforming Loans
and Leases
Accruing Past Due
90 Days or More (1)
(Dollars in millions)September 30
2020		December 31
2019		September 30
2020		December 31
2019
Residential mortgage (2)
$1,675 $1,470 $837 $1,088 
With negative allowance (3)
500 — 
Home equity (2)
640 536 — — 
With negative allowance (3)
119 — 
Credit Cardn/an/a546 1,042 
Direct/indirect consumer42 47 27 33 
Total consumer2,357 2,053 1,410 2,163 
U.S. commercial1,351 1,094 199 106 
Non-U.S. commercial338 43 28 8 
Commercial real estate414 280 2 19 
Commercial lease financing14 32 32 20 
U.S. small business commercial76 50 77 97 
Total commercial2,193 1,499 338 250 
Total nonperforming loans$4,550 $3,552 $1,748 $2,413 
Percentage of outstanding loans and leases
0.48 %0.36 %0.18 %0.25 %
(1)For information on the Corporation's interest accrual policies and delinquency status for loan modifications related to the COVID-19 pandemic, see Note 1 – Summary of Significant Accounting Principles.
(2)Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At September 30, 2020 and December 31, 2019 residential mortgage includes $561 million and $740 million of loans on which interest had been curtailed by the FHA, and therefore were no longer accruing interest, although principal was still insured, and $276 million and $348 million of loans on which interest was still accruing.
(3)At September 30, 2020, Residential Mortgage and Home Equity include negative allowance on nonperforming loans of $170 million and $106 million.
n/a = not applicable
Financing Receivable Credit Quality Indicators The following tables present certain credit quality indicators for the Corporation's Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments by class of financing receivables and year of origination for term loan balances at September 30, 2020, including revolving loans that converted to term loans without an additional credit decision after origination or through a TDR.
Residential Mortgage – Credit Quality Indicators By Vintage
(Dollars in millions)Total as of September 30, 202020202019201820172016Prior
Total Residential Mortgage
Refreshed LTV
   
Less than or equal to 90 percent$216,204 $60,442 $48,822 $17,053 $24,435 $25,616 $39,836 
Greater than 90 percent but less than or equal to 100 percent
3,482 1,743 989 244 104 127 275 
Greater than 100 percent
1,310 685 207 67 46 39 266 
Fully-insured loans
11,722 2,746 2,332 441 379 2,215 3,609 
Total Residential Mortgage$232,718 $65,616 $52,350 $17,805 $24,964 $27,997 $43,986 
Total Residential Mortgage
Refreshed FICO score
Less than 620$2,776 $711 $174 $157 $170 $179 $1,385 
Greater than or equal to 620 and less than 680
5,505 1,596 710 471 408 414 1,906 
Greater than or equal to 680 and less than 740
26,198 7,510 5,268 2,229 2,629 2,420 6,142 
Greater than or equal to 740
186,517 53,053 43,866 14,507 21,378 22,769 30,944 
Fully-insured loans
11,722 2,746 2,332 441 379 2,215 3,609 
Total Residential Mortgage$232,718 $65,616 $52,350 $17,805 $24,964 $27,997 $43,986 
Home Equity - Credit Quality Indicators
Total
Home Equity Loans and Reverse Mortgages (1)
Revolving LoansRevolving Loans Converted to Term Loans
(Dollars in millions)September 30, 2020
Total Home Equity
Refreshed LTV
   
Less than or equal to 90 percent$35,542 $1,972 $24,067 $9,503 
Greater than 90 percent but less than or equal to 100 percent
415 133 115 167 
Greater than 100 percent
573 196 116 261 
Total Home Equity$36,530 $2,301 $24,298 $9,931 
Total Home Equity
Refreshed FICO score
Less than 620$1,112 $246 $241 $625 
Greater than or equal to 620 and less than 680
1,912 278 577 1,057 
Greater than or equal to 680 and less than 740
6,144 569 3,107 2,468 
Greater than or equal to 740
27,362 1,208 20,373 5,781 
Total Home Equity$36,530 $2,301 $24,298 $9,931 
(1)Includes reverse mortgages of $1.3 billion and home equity loans of $974 million which are no longer originated.
Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage
Direct/Indirect
Term Loans by Origination YearCredit Card
(Dollars in millions)Total Direct/Indirect as of September 30, 2020Revolving Loans20202019201820172016PriorTotal Credit Card as of September 30, 2020Revolving Loans
Revolving Loans Converted to Term Loans (3)
Refreshed FICO score  
Less than 620$1,041 $20 $81 $204 $194 $279 $181 $82 $3,878 $3,686 $192 
Greater than or equal to 620 and less than 680
2,227 23 498 628 379 357 213 129 9,788 9,572 216 
Greater than or equal to 680 and less than 740
7,483 84 2,171 2,280 1,188 894 489 377 28,496 28,311 185 
Greater than or equal to 74036,620 125 9,693 11,729 6,723 4,207 2,164 1,979 37,672 37,628 44 
Other internal credit
   metrics (1, 2)
42,543 41,903 46 120 111 75 52 236 — — — 
Total credit card and other
consumer		$89,914 $42,155 $12,489 $14,961 $8,595 $5,812 $3,099 $2,803 $79,834 $79,197 $637 
(1)Other internal credit metrics may include delinquency status, geography or other factors.
(2)Direct/indirect consumer includes $41.9 billion of securities-based lending which is typically supported by highly liquid collateral with market value greater than or equal to the outstanding loan balance and therefore has minimal credit risk at September 30, 2020.
(3)Represents troubled debt restructurings that were modified into term loans.
Commercial – Credit Quality Indicators By Vintage (1, 2)
Term Loans
Amortized Cost Basis by Origination Year
(Dollars in millions)Total as of September 30, 202020202019201820172016PriorRevolving Loans
U.S. Commercial
Risk ratings    
Pass rated$273,068 $29,791 $38,045 $19,560 $16,259 $8,621 $18,776 $142,016 
Reservable criticized20,866 1,868 2,430 2,377 906 668 1,925 10,692 
Total U.S. Commercial
$293,934 $31,659 $40,475 $21,937 $17,165 $9,289 $20,701 $152,708 
Non-U.S. Commercial
Risk ratings
Pass rated$92,125 $12,666 $13,306 $8,519 $5,407 $1,557 $6,842 $43,828 
Reservable criticized4,026 533 491 443 252 49 172 2,086 
Total Non-U.S. Commercial
$96,151 $13,199 $13,797 $8,962 $5,659 $1,606 $7,014 $45,914 
Commercial Real Estate
Risk ratings
Pass rated$55,528 $6,168 $15,968 $10,438 $5,800 $3,470 $7,503 $6,181 
Reservable criticized6,926 348 1,613 1,430 1,393 617 1,106 419 
Total Commercial Real Estate
$62,454 $6,516 $17,581 $11,868 $7,193 $4,087 $8,609 $6,600 
Commercial Lease Financing
Risk ratings
Pass rated$16,756 $2,292 $3,433 $3,240 $2,753 $1,831 $3,207 $— 
Reservable criticized657 71 89 164 68 63 202 — 
Total Commercial Lease Financing
$17,413 $2,363 $3,522 $3,404 $2,821 $1,894 $3,409 $— 
U.S. Small Business Commercial (3)
Risk ratings
Pass rated$30,787 $25,856 $1,185 $880 $780 $563 $1,340 $183 
Reservable criticized1,339 78 222 216 182 128 500 13 
Total U.S. Small Business Commercial
$32,126 $25,934 $1,407 $1,096 $962 $691 $1,840 $196 
 Total (1, 2)
$502,078 $79,671 $76,782 $47,267 $33,800 $17,567 $41,573 $205,418 
(1) Excludes $6.6 billion of loans accounted for under the fair value option at September 30, 2020.
(2)     Includes $54 million of loans that converted from revolving to term loans.
(3)     Excludes U.S. Small Business Card loans of $6.7 billion. Refreshed FICO scores for this portfolio are $266 million for less than 620; $599 million for greater than or equal to 620 and less than 680; $1.8 billion for greater than or equal to 680 and less than 740; and $4.1 billion greater than or equal to 740.
Troubled Debt Restructurings on Financing Receivables The table below presents the September 30, 2020 and 2019 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of consumer real estate loans that were modified in TDRs during the three and nine months ended September 30, 2020 and 2019. The following Consumer Real Estate portfolio segment tables include loans that were initially classified as TDRs during the period and also loans that had previously been classified as TDRs and were modified again during the period.
Consumer Real Estate – TDRs Entered into During The Three and Nine Months Ended September 30, 2020
and 2019 (1)
Unpaid Principal BalanceCarrying
Value		Pre-Modification Interest Rate
Post-Modification Interest Rate (2)
Unpaid Principal BalanceCarrying
Value		Pre-Modification Interest Rate
Post-Modification Interest Rate (2)
(Dollars in millions)Three Months Ended September 30, 2020Nine Months Ended September 30, 2020
Residential mortgage$103 $88 4.06 %3.99 %$294 $244 4.07 %3.90 %
Home equity12 10 4.25 4.08 56 45 3.85 3.73 
Total $115 $98 4.08 4.00 $350 $289 4.03 3.87 
Three Months Ended September 30, 2019Nine Months Ended September 30, 2019
Residential mortgage$148 $125 4.29 %4.25 %$368 $301 4.24 %4.22 %
Home equity34 27 5.28 5.27 129 94 5.19 4.60 
Total $182 $152 4.48 4.44 $497 $395 4.49 4.32 
(1)For more information on the Corporation's loan modification programs offered in response to the COVID-19 pandemic, which are not TDRs, see Note 1 – Summary of Significant Accounting Principles.
(2)The post-modification interest rate reflects the interest rate applicable only to permanently completed modifications, which exclude loans that are in a trial modification period.
The table below presents the September 30, 2020 and 2019 carrying value for consumer real estate loans that were modified in a TDR during the three and nine months ended September 30, 2020 and 2019, by type of modification.
Consumer Real Estate – Modification Programs (1)
TDRs Entered into During the
Three Months Ended September 30Nine Months Ended September 30
(Dollars in millions)2020201920202019
Modifications under government programs $— $8 $8 $32 
Modifications under proprietary programs 50 18 136 125 
Loans discharged in Chapter 7 bankruptcy (2)
15 16 44 54 
Trial modifications33 110 101 184 
Total modifications$98 $152 $289 $395 
(1)For more information on the Corporation's loan modification programs offered in response to the COVID-19 pandemic, which are not TDRs, see Note 1 – Summary of Significant Accounting Principles.
(2)Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs.
The table below presents the carrying value of consumer real estate loans that entered into payment default during the three and nine months ended September 30, 2020 and 2019 that were modified in a TDR during the 12 months preceding payment default. A payment default for consumer real estate TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification.
Consumer Real Estate – TDRs Entering Payment Default that were Modified During the Preceding 12 Months (1)
Three Months Ended September 30Nine Months Ended September 30
(Dollars in millions)2020201920202019
Modifications under government programs$6 $7 $14 $20 
Modifications under proprietary programs8 19 27 68 
Loans discharged in Chapter 7 bankruptcy (2)
4 8 15 26 
Trial modifications (3)
15 13 45 40 
Total modifications$33 $47 $101 $154 
(1)For more information on the Corporation's loan modification programs offered in response to the COVID-19 pandemic, which are not TDRs, see Note 1 – Summary of Significant Accounting Principles.
(2)Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs.
(3)Includes trial modification offers to which the customer did not respond.
The table below provides information on the Corporation’s Credit Card and Other Consumer TDR portfolio including the September 30, 2020 and 2019 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of loans that were modified in TDRs during the three and nine months ended September 30, 2020 and 2019.
Credit Card and Other Consumer – TDRs Entered into During the Three and Nine Months Ended September 30, 2020
and 2019 (1)
 Unpaid Principal Balance
Carrying
Value (2)
Pre-Modification Interest RatePost-Modification Interest RateUnpaid Principal Balance
Carrying
Value (2)
Pre-Modification Interest RatePost-Modification Interest Rate
(Dollars in millions)Three Months Ended September 30, 2020Nine Months Ended September 30, 2020
Credit card$71 $77 18.19 %6.86 %$203 $214 18.06 %5.82 %
Direct/Indirect consumer35 29 6.02 6.02 50 37 5.87 5.87 
Total $106 $106 14.85 6.63 $253 $251 16.29 5.83 
Three Months Ended September 30, 2019Nine Months Ended September 30, 2019
Credit card$100 $107 19.62 %5.36 %$267 $281 19.50 %5.35 %
Direct/Indirect consumer19 11 5.32 5.32 35 19 5.23 5.22 
Total $119 $118 18.36 5.36 $302 $300 18.62 5.34 
(1)For more information on the Corporation's loan modification programs offered in response to the COVID-19 pandemic, which are not TDRs, see Note 1 – Summary of Significant Accounting Principles.
(2)Includes accrued interest and fees.
The table below presents the September 30, 2020 and 2019 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during the three and nine months ended September 30, 2020 and 2019, by program type.
Credit Card and Other Consumer – TDRs by Program Type (1)
TDRs Entered into During the Three Months Ended September 30TDRs Entered into During the Nine Months Ended September 30
(Dollars in millions)
2020201920202019
Internal programs$80 $76 $178 $196 
External programs
19 31 59 86 
Other
7 11 14 18 
Total$106 $118 $251 $300 
(1)Includes accrued interest and fees. For more information on the Corporation's loan modification programs offered in response to the COVID-19 pandemic, which are not TDRs, see Note 1 – Summary of Significant Accounting Principles.
Changes in the Allowance for Credit Losses
The changes in the allowance for credit losses, including net charge-offs and provision for loan and lease losses, are detailed in the table below.
Consumer
Real Estate		Credit Card and Other ConsumerCommercialTotal
(Dollars in millions)Three Months Ended September 30, 2020
Allowance for loan and lease losses, July 1$833 $10,122 $8,434 $19,389 
Loans and leases charged off(13)(810)(470)(1,293)
Recoveries of loans and leases previously charged off39 220 62 321 
Net charge-offs26 (590)(408)(972)
Provision for loan and lease losses(6)304 882 1,180 
Other (1)
2 — (3)(1)
Allowance for loan and lease losses, September 30
855 9,836 8,905 19,596 
Reserve for unfunded lending commitments, July 1141 — 1,561 1,702 
Provision for unfunded lending commitments(3)— 212 209 
Other (1)
— — (1)(1)
Reserve for unfunded lending commitments, September 30
138 — 1,772 1,910 
Allowance for credit losses, September 30
$993 $9,836 $10,677 $21,506 
Three Months Ended September 30, 2019
Allowance for loan and lease losses, July 1$719 $3,970 $4,838 $9,527 
Loans and leases charged off(199)(1,093)(220)(1,512)
Recoveries of loans and leases previously charged off439 231 31 701 
Net charge-offs240 (862)(189)(811)
Provision for loan and lease losses(312)876 212 776 
Other (1)
(56)1 (4)(59)
Allowance for loan and lease losses, September 30
591 3,985 4,857 9,433 
Reserve for unfunded lending commitments, July 1— — 806 806 
Provision for unfunded lending commitments— — 3 3 
Reserve for unfunded lending commitments, September 30
— — 809 809 
Allowance for credit losses, September 30
$591 $3,985 $5,666 $10,242 
(Dollars in millions)Nine Months Ended September 30, 2020
Allowance for loan and lease losses, January 1$440 $7,430 $4,488 $12,358 
Loans and leases charged off(75)(2,916)(1,199)(4,190)
Recoveries of loans and leases previously charged off147 674 129 950 
Net charge-offs72 (2,242)(1,070)(3,240)
Provision for loan and lease losses336 4,648 5,496 10,480 
Other (1)
7 — (9)(2)
Allowance for loan and lease losses, September 30
855 9,836 8,905 19,596 
Reserve for unfunded lending commitments, January 1119 — 1,004 1,123 
Provision for unfunded lending commitments19 — 768 787 
Reserve for unfunded lending commitments, September 30
138 — 1,772 1,910 
Allowance for credit losses, September 30
$993 $9,836 $10,677 $21,506 
Nine Months Ended September 30, 2019
Allowance for loan and lease losses, January 1$928 $3,874 $4,799 $9,601 
Loans and leases charged off(455)(3,225)(630)(4,310)
Recoveries of loans and leases previously charged off852 680 89 1,621 
Net charge-offs397 (2,545)(541)(2,689)
Provision for loan and lease losses(621)2,655 603 2,637 
Other (1)
(113)1 (4)(116)
Allowance for loan and lease losses, September 30
591 3,985 4,857 9,433 
Reserve for unfunded lending commitments, January 1— — 797 797 
Provision for unfunded lending commitments— — 12 12 
Reserve for unfunded lending commitments, September 30
— — 809 809 
Allowance for credit losses, September 30
$591 $3,985 $5,666 $10,242 
(1)Primarily represents write-offs of purchased credit-impaired loans in 2019, and the net impact of portfolio sales, transfers to held-for-sale and transfers to foreclosed properties.
Specific to the three months ended September 30, 2020, there has been improvement in the U.S. and global macroeconomic consensus outlooks, which resulted in an improvement in the economic outlook used to determine the allowance for credit losses when compared to June 30, 2020. The provision for credit losses, including unfunded lending commitments, increased