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Outstanding Loans and Leases and Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2024

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 December 31, 2024 and 2023.



	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, 2024
Consumer real estate






Residential mortgage	$	1,222		$	288		$	788		$	2,298		$	225,901					$	228,199
Home equity	80			40			127			247			25,490						25,737
Credit card and other consumer
Credit card	685			552			1,401			2,638			100,928						103,566

Direct/Indirect consumer (2)	290			113			106			509			106,613						107,122
Other consumer	—			—			—			—			151						151
Total consumer	2,277			993			2,422			5,692			459,083						464,775
Consumer loans accounted for under the fair value option (3)																$	221		221
Total consumer loans and leases	2,277			993			2,422			5,692			459,083			221			464,996
Commercial

U.S. commercial	910			228			345			1,483			385,507						386,990
Non-U.S. commercial	65			17			4			86			137,432						137,518
Commercial real estate (4)	640			121			990			1,751			63,979						65,730
Commercial lease financing	32			9			19			60			15,648						15,708
U.S. small business commercial	190			94			199			483			20,382						20,865
Total commercial	1,837			469			1,557			3,863			622,948						626,811
Commercial loans accounted for under the fair value option (3)																4,028			4,028
Total commercial loans and leases	1,837			469			1,557			3,863			622,948			4,028			630,839
Total loans and leases (5)	$	4,114		$	1,462		$	3,979		$	9,555		$	1,082,031		$	4,249		$	1,095,835
Percentage of outstandings	0.38		%	0.13		%	0.36		%	0.87		%	98.74		%	0.39		%	100.00		%

(1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $188 million and nonperforming loans of $174 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $71 million and nonperforming loans of $107 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $229 million and nonperforming loans of $686 million. Consumer real estate loans current or less than 30 days past due includes $1.5 billion, and direct/indirect consumer includes $54 million of nonperforming loans.

(2)Total outstandings primarily includes auto and specialty lending loans and leases of $54.9 billion, U.S. securities-based lending loans of $48.7 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 $59 million and home equity loans of $162 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.8 billion and non-U.S. commercial loans of $1.3 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option.

(4)Total outstandings includes U.S. commercial real estate loans of $59.6 billion and non-U.S. commercial real estate loans of $6.1 billion.

(5)Total outstandings includes loans and leases pledged as collateral of $26.8 billion. The Corporation also pledged $305.2 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, 2023
Consumer real estate






Residential mortgage	$	1,177		$	302		$	829		$	2,308		$	226,095					$	228,403
Home equity	90			38			161			289			25,238						25,527
Credit card and other consumer
Credit card	680			515			1,224			2,419			99,781						102,200

Direct/Indirect consumer (2)	306			99			91			496			102,972						103,468
Other consumer	—			—			—			—			124						124
Total consumer	2,253			954			2,305			5,512			454,210						459,722
Consumer loans accounted for under the fair value option (3)																$	243		243
Total consumer loans and leases	2,253			954			2,305			5,512			454,210			243			459,965
Commercial

U.S. commercial	477			96			225			798			358,133						358,931
Non-U.S. commercial	86			21			64			171			124,410						124,581
Commercial real estate (4)	247			133			505			885			71,993						72,878
Commercial lease financing	44			8			24			76			14,778						14,854
U.S. small business commercial	166			89			184			439			18,758						19,197
Total commercial	1,020			347			1,002			2,369			588,072						590,441
Commercial loans accounted for under the fair value option (3)																3,326			3,326
Total commercial loans and leases	1,020			347			1,002			2,369			588,072			3,326			593,767


Total loans and leases (5)	$	3,273		$	1,301		$	3,307		$	7,881		$	1,042,282		$	3,569		$	1,053,732
Percentage of outstandings	0.31		%	0.12		%	0.31		%	0.75		%	98.91		%	0.34		%	100.00		%

(1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $198 million and nonperforming loans of $150 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $77 million and nonperforming loans of $102 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $252 million and nonperforming loans of $738 million. Consumer real estate loans current or less than 30 days past due includes $1.6 billion, and direct/indirect consumer includes $39 million of nonperforming loans.

(2)Total outstandings primarily includes auto and specialty lending loans and leases of $53.9 billion, U.S. securities-based lending loans of $46.0 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 $66 million and home equity loans of $177 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.2 billion and non-U.S. commercial loans of $1.2 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option.

(4)Total outstandings includes U.S. commercial real estate loans of $66.8 billion and non-U.S. commercial real estate loans of $6.1 billion.

(5)Total outstandings includes loans and leases pledged as collateral of $33.7 billion. The Corporation also pledged $246.0 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 following table presents the Corporation’s nonperforming loans and leases and loans accruing past due 90 days or more at December 31, 2024 and 2023. Nonperforming 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 more information on the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles.



Credit Quality


	Nonperforming Loans and Leases						Accruing Past Due 90 Days or More
	December 31
(Dollars in millions)	2024			2023			2024			2023
Residential mortgage (1)	$	2,052		$	2,114		$	229		$	252
With no related allowance (2)	1,883			1,974			—			—
Home equity (1)	409			450			—			—
With no related allowance (2)	334			375			—			—
Credit Card	n/a			n/a			1,401			1,224
Direct/indirect consumer	186			148			1			2

Total consumer	2,647			2,712			1,631			1,478
U.S. commercial	1,204			636			90			51
Non-U.S. commercial	8			175			4			4
Commercial real estate	2,068			1,927			6			32
Commercial lease financing	20			19			3			7
U.S. small business commercial	28			16			197			184
Total commercial	3,328			2,773			300			278
Total nonperforming loans	$	5,975		$	5,485		$	1,931		$	1,756
Percentage of outstanding loans and leases	0.55		%	0.52		%	0.18		%	0.17		%

(1)Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At December 31, 2024 and 2023 residential mortgage included $119 million and $156 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 $110 million and $96 million of loans on which interest was still accruing.

(2)Primarily relates to loans for which the estimated fair value of the underlying collateral less any costs to sell is greater than the amortized cost of the loans as of the reporting date.

n/a = not applicable

Financing Receivable Credit Quality Indicators

The following tables present certain credit quality indicators and gross charge-offs for the Corporation's Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments by year of origination, except for revolving loans and revolving loans that were modified into term loans, which are shown on an aggregate basis at December 31, 2024.



Residential Mortgage – Credit Quality Indicators By Vintage

















			Term Loans by Origination Year
(Dollars in millions)	Total as of December 31, 2024		2024		2023		2022		2021		2020		Prior
Residential Mortgage
Refreshed LTV
Less than or equal to 90 percent	$	215,575	$	18,115	$	12,910	$	36,748	$	71,912	$	32,504	$	43,386
Greater than 90 percent but less than or equal to 100 percent	1,848		724		463		471		122		31		37
Greater than 100 percent	863		428		195		144		56		15		25
Fully-insured loans	9,913		288		190		302		3,153		2,568		3,412
Total Residential Mortgage	$	228,199	$	19,555	$	13,758	$	37,665	$	75,243	$	35,118	$	46,860

Residential Mortgage
Refreshed FICO score
Less than 620	$	2,619	$	172	$	171	$	484	$	649	$	427	$	716
Greater than or equal to 620 and less than 680	4,687		329		337		826		1,201		736		1,258
Greater than or equal to 680 and less than 740	22,666		2,008		1,553		4,112		6,322		3,431		5,240
Greater than or equal to 740	188,314		16,758		11,507		31,941		63,918		27,956		36,234
Fully-insured loans	9,913		288		190		302		3,153		2,568		3,412
Total Residential Mortgage	$	228,199	$	19,555	$	13,758	$	37,665	$	75,243	$	35,118	$	46,860


Gross charge-offs for the year ended December 31, 2024	$	21	$	2	$	3	$	6	$	2	$	1	$	7



Home Equity - Credit Quality Indicators

	Total		Home Equity Loans and Reverse Mortgages (1)		Revolving Loans		Revolving Loans Converted to Term Loans
(Dollars in millions)	December 31, 2024
Home Equity
Refreshed LTV
Less than or equal to 90 percent	$	25,638	$	780	$	21,450	$	3,408
Greater than 90 percent but less than or equal to 100 percent	51		4		42		5
Greater than 100 percent	48		3		34		11
Total Home Equity	$	25,737	$	787	$	21,526	$	3,424

Home Equity
Refreshed FICO score
Less than 620	$	645	$	72	$	320	$	253
Greater than or equal to 620 and less than 680	1,115		83		689		343
Greater than or equal to 680 and less than 740	4,373		161		3,429		783
Greater than or equal to 740	19,604		471		17,088		2,045
Total Home Equity	$	25,737	$	787	$	21,526	$	3,424

Gross charge-offs for the year ended December 31, 2024	$	21	$	6	$	9	$	6

(1)Includes reverse mortgages of $500 million and home equity loans of $287 million, which are no longer originated.



Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage










	Direct/Indirect
					Term Loans by Origination Year												Credit Card
(Dollars in millions)	Total Direct/ Indirect as of December 31, 2024		Revolving Loans		2024		2023		2022		2021		2020		Prior		Total Credit Card as of December 31, 2024		Revolving Loans		Revolving Loans Converted to Term Loans (1)
Refreshed FICO score
Less than 620	$	1,483	$	10	$	249	$	452	$	433	$	243	$	53	$	43	$	5,866	$	5,511	$	355
Greater than or equal to 620 and less than 680	2,360		9		735		699		523		272		67		55		11,580		11,250		330
Greater than or equal to 680 and less than 740	8,071		42		3,038		2,179		1,587		825		226		174		35,037		34,743		294
Greater than or equal to 740	43,141		67		17,889		11,240		7,635		3,908		1,319		1,083		51,083		51,019		64
Other internal credit metrics (2,3)	52,067		51,433		165		51		127		95		36		160		—		—		—
Total credit card and other consumer	$	107,122	$	51,561	$	22,076	$	14,621	$	10,305	$	5,343	$	1,701	$	1,515	$	103,566	$	102,523	$	1,043


Gross charge-offs for the year ended December 31, 2024	$	399	$	5	$	46	$	144	$	109	$	51	$	12	$	32	$	4,365	$	4,188	$	177

(1)Represents loans that were modified into term loans.

(2)Other internal credit metrics may include delinquency status, geography or other factors.

(3)Direct/indirect consumer includes $51.4 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 December 31, 2024.



Commercial – Credit Quality Indicators By Vintage (1)
			Term Loans
			Amortized Cost Basis by Origination Year

(Dollars in millions)	Total as of December 31, 2024		2024		2023		2022		2021		2020		Prior		Revolving Loans
U.S. Commercial
Risk ratings
Pass rated	$	374,380	$	49,587	$	33,352	$	34,015	$	20,801	$	10,172	$	34,176	$	192,277
Reservable criticized	12,610		157		901		1,035		799		340		1,996		7,382
Total U.S. Commercial	$	386,990	$	49,744	$	34,253	$	35,050	$	21,600	$	10,512	$	36,172	$	199,659
Gross charge-offs for the year ended December 31, 2024	$	439	$	3	$	122	$	80	$	19	$	4	$	63	$	148

Non-U.S. Commercial
Risk ratings
Pass rated	$	135,720	$	27,119	$	14,268	$	12,220	$	11,750	$	1,328	$	6,777	$	62,258
Reservable criticized	1,798		22		180		145		310		8		106		1,027
Total Non-U.S. Commercial	$	137,518	$	27,141	$	14,448	$	12,365	$	12,060	$	1,336	$	6,883	$	63,285
Gross charge-offs for the year ended December 31, 2024	$	81	$	—	$	41	$	22	$	16	$	—	$	—	$	2

Commercial Real Estate
Risk ratings
Pass rated	$	55,607	$	5,422	$	4,935	$	10,755	$	8,990	$	2,911	$	13,310	$	9,284
Reservable criticized	10,123		41		211		3,252		2,100		588		3,372		559
Total Commercial Real Estate	$	65,730	$	5,463	$	5,146	$	14,007	$	11,090	$	3,499	$	16,682	$	9,843
Gross charge-offs for the year ended December 31, 2024	$	894	$	—	$	—	$	57	$	83	$	62	$	663	$	29

Commercial Lease Financing
Risk ratings
Pass rated	$	15,417	$	3,902	$	3,675	$	2,465	$	1,921	$	1,033	$	2,421	$	—
Reservable criticized	291		9		96		67		52		23		44		—
Total Commercial Lease Financing	$	15,708	$	3,911	$	3,771	$	2,532	$	1,973	$	1,056	$	2,465	$	—
Gross charge-offs for the year ended December 31, 2024	$	2	$	—	$	—	$	—	$	2	$	—	$	—	$	—

U.S. Small Business Commercial (2)
Risk ratings
Pass rated	$	9,806	$	1,926	$	1,887	$	1,650	$	1,302	$	604	$	1,992	$	445
Reservable criticized	443		8		83		104		115		25		105		3
Total U.S. Small Business Commercial	$	10,249	$	1,934	$	1,970	$	1,754	$	1,417	$	629	$	2,097	$	448
Gross charge-offs for the year ended December 31, 2024	$	30	$	—	$	1	$	2	$	1	$	6	$	7	$	13

Total	$	616,195	$	88,193	$	59,588	$	65,708	$	48,140	$	17,032	$	64,299	$	273,235

Gross charge-offs for the year ended December 31, 2024	$	1,446	$	3	$	164	$	161	$	121	$	72	$	733	$	192

(1)Excludes $4.0 billion of loans accounted for under the fair value option at December 31, 2024.

(2)Excludes U.S. Small Business Card loans of $10.6 billion. Refreshed FICO scores for this portfolio are $699 million for less than 620; $1.2 billion for greater than or equal to 620 and less than 680; $3.0 billion for greater than or equal to 680 and less than 740; and $5.8 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $489 million.

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 year of origination, except for revolving loans and revolving loans that were modified into term loans, which are shown on an aggregate basis at December 31, 2023.



Residential Mortgage – Credit Quality Indicators By Vintage




































			Term Loans by Origination Year
(Dollars in millions)	Total as of December 31, 2023		2023		2022		2021		2020		2019		Prior
Residential Mortgage
Refreshed LTV
Less than or equal to 90 percent	$	214,661	$	15,224	$	38,225	$	76,229	$	35,072	$	17,432	$	32,479
Greater than 90 percent but less than or equal to 100 percent	1,994		698		911		286		53		25		21
Greater than 100 percent	785		264		342		100		31		14		34
Fully-insured loans	10,963		540		350		3,415		2,834		847		2,977
Total Residential Mortgage	$	228,403	$	16,726	$	39,828	$	80,030	$	37,990	$	18,318	$	35,511

Residential Mortgage
Refreshed FICO score
Less than 620	$	2,335	$	115	$	471	$	589	$	402	$	136	$	622
Greater than or equal to 620 and less than 680	4,671		359		919		1,235		777		296		1,085
Greater than or equal to 680 and less than 740	23,357		1,934		4,652		6,988		3,742		1,836		4,205
Greater than or equal to 740	187,077		13,778		33,436		67,803		30,235		15,203		26,622
Fully-insured loans	10,963		540		350		3,415		2,834		847		2,977
Total Residential Mortgage	$	228,403	$	16,726	$	39,828	$	80,030	$	37,990	$	18,318	$	35,511
Gross charge-offs for the year ended December 31, 2023	$	67	$	—	$	7	$	12	$	6	$	2	$	40



Home Equity - Credit Quality Indicators

		Total		Home Equity Loans and Reverse Mortgages (1)		Revolving Loans		Revolving Loans Converted to Term Loans
(Dollars in millions)	December 31, 2023
Home Equity
Refreshed LTV
Less than or equal to 90 percent		$	25,378	$	1,051	$	20,380	$	3,947
Greater than 90 percent but less than or equal to 100 percent		61		17		35		9
Greater than 100 percent		88		35		36		17
Total Home Equity		$	25,527	$	1,103	$	20,451	$	3,973

Home Equity
Refreshed FICO score
Less than 620		$	654	$	123	$	253	$	278
Greater than or equal to 620 and less than 680		1,107		118		589		400
Greater than or equal to 680 and less than 740		4,340		240		3,156		944
Greater than or equal to 740		19,426		622		16,453		2,351
Total Home Equity		$	25,527	$	1,103	$	20,451	$	3,973
Gross charge-offs for the year ended December 31, 2023		$	36	$	4	$	21	$	11

(1)Includes reverse mortgages of $763 million and home equity loans of $340 million, which are no longer originated.



Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage





















	Direct/Indirect
					Term Loans by Origination Year												Credit Card
(Dollars in millions)	Total Direct/Indirect as of December 31, 2023		Revolving Loans		2023		2022		2021		2020		2019		Prior		Total Credit Card as of December 31, 2023		Revolving Loans		Revolving Loans Converted to Term Loans (1)
Refreshed FICO score
Less than 620	$	1,246	$	11	$	292	$	428	$	336	$	85	$	55	$	39	$	5,338	$	5,030	$	308
Greater than or equal to 620 and less than 680	2,506		11		937		799		501		121		73		64		11,623		11,345		278
Greater than or equal to 680 and less than 740	8,629		48		3,451		2,582		1,641		462		244		201		34,777		34,538		239
Greater than or equal to 740	41,656		74		16,761		11,802		7,643		2,707		1,417		1,252		50,462		50,410		52
Other internal credit metrics (2, 3)	49,431		48,764		106		183		110		53		57		158		—		—		—
Total credit card and other consumer	$	103,468	$	48,908	$	21,547	$	15,794	$	10,231	$	3,428	$	1,846	$	1,714	$	102,200	$	101,323	$	877
Gross charge-offs for the year ended December 31, 2023	$	233	$	5	$	32	$	95	$	53	$	15	$	10	$	23	$	3,133	$	3,013	$	120

(1)Represents loans that were modified into term loans.

(2)Other internal credit metrics may include delinquency status, geography or other factors.

(3)Direct/indirect consumer includes $48.8 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 December 31, 2023.



Commercial – Credit Quality Indicators By Vintage (1)
			Term Loans
			Amortized Cost Basis by Origination Year

(Dollars in millions)	Total as of December 31, 2023		2023		2022		2021		2020		2019		Prior		Revolving Loans
U.S. Commercial
Risk ratings
Pass rated	$	347,563	$	41,842	$	43,290	$	27,738	$	13,495	$	11,772	$	29,923	$	179,503
Reservable criticized	11,368		278		1,316		708		363		537		1,342		6,824
Total U.S. Commercial	$	358,931	$	42,120	$	44,606	$	28,446	$	13,858	$	12,309	$	31,265	$	186,327
Gross charge-offs for the year ended December 31, 2023	$	191	$	5	$	38	$	29	$	4	$	2	$	27	$	86

Non-U.S. Commercial
Risk ratings
Pass rated	$	122,931	$	17,053	$	15,810	$	15,256	$	2,405	$	2,950	$	5,485	$	63,972
Reservable criticized	1,650		50		184		294		90		158		74		800
Total Non-U.S. Commercial	$	124,581	$	17,103	$	15,994	$	15,550	$	2,495	$	3,108	$	5,559	$	64,772
Gross charge-offs for the year ended December 31, 2023	$	37	$	—	$	—	$	8	$	7	$	1	$	—	$	21

Commercial Real Estate
Risk ratings
Pass rated	$	64,150	$	4,877	$	16,147	$	11,810	$	4,026	$	7,286	$	10,127	$	9,877
Reservable criticized	8,728		134		749		1,728		782		2,132		2,794		409
Total Commercial Real Estate	$	72,878	$	5,011	$	16,896	$	13,538	$	4,808	$	9,418	$	12,921	$	10,286
Gross charge-offs for the year ended December 31, 2023	$	254	$	2	$	—	$	4	$	—	$	59	$	189	$	—

Commercial Lease Financing
Risk ratings
Pass rated	$	14,688	$	4,188	$	3,077	$	2,373	$	1,349	$	1,174	$	2,527	$	—
Reservable criticized	166		9		22		46		16		32		41		—
Total Commercial Lease Financing	$	14,854	$	4,197	$	3,099	$	2,419	$	1,365	$	1,206	$	2,568	$	—
Gross charge-offs for the year ended December 31, 2023	$	2	$	—	$	—	$	1	$	1	$	—	$	—	$	—

U.S. Small Business Commercial (2)
Risk ratings
Pass rated	$	9,031	$	1,886	$	1,830	$	1,550	$	836	$	721	$	1,780	$	428
Reservable criticized	384		6		64		95		40		63		113		3
Total U.S. Small Business Commercial	$	9,415	$	1,892	$	1,894	$	1,645	$	876	$	784	$	1,893	$	431
Gross charge-offs for the year ended December 31, 2023	$	43	$	1	$	2	$	2	$	19	$	3	$	4	$	12

Total	$	580,659	$	70,323	$	82,489	$	61,598	$	23,402	$	26,825	$	54,206	$	261,816
Gross charge-offs for the year ended December 31, 2023	$	527	$	8	$	40	$	44	$	31	$	65	$	220	$	119

(1) Excludes $3.3 billion of loans accounted for under the fair value option at December 31, 2023.

(2) Excludes U.S. Small Business Card loans of $9.8 billion. Refreshed FICO scores for this portfolio are $530 million for less than 620; $1.1 billion for greater than or equal to 620 and less than 680; $2.7 billion for greater than or equal to 680 and less than 740; and $5.5 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $317 million.

Troubled Debt Restructurings on Financing Receivables

The table below provides the ending amortized cost of the Corporation’s modified consumer real estate loans at December 31, 2024 and 2023.



Consumer Real Estate - Modifications to Borrowers in Financial Difficulty

		Forbearance and Other Payment Plans		Permanent Modification		Total		As a % of Financing Receivables
(Dollars in millions)	Year Ended December 31, 2024
Residential Loans		$	46	$	186	$	232	0.10	%
Home Equity		1		31		32		0.12	%
Total		$	47	$	217	$	264	0.10	%

	Year Ended December 31, 2023
Residential Loans		$	429	$	154	$	583	0.26	%
Home Equity		57		31		88		0.34
Total		$	486	$	185	$	671	0.26

The table below presents the financial effect of modified consumer real estate loans.

Financial Effect of Modified Consumer Real Estate Loans

Year Ended December 31

2024

2023

Forbearance and Other Payment Plans

Weighted-average duration

Residential Mortgage

7 months

8 months

Home Equity

n/a

9 months

Permanent Modifications

Weighted-average Term Extension

Residential Mortgage

9.6 years

9.9 years

Home Equity

17.7 years

Weighted-average Interest Rate Reduction

Residential Mortgage

1.25

1.41

Home Equity

2.61

2.74

n/a = not applicable

The table below provides aging information as of December 31, 2024 and 2023 for consumer real estate loans that were modified over the last 12 months.



Consumer Real Estate - Payment Status of Modifications to Borrowers in Financial Difficulty

	Current		30–89 Days Past Due		90+ Days Past Due		Total
(Dollars in millions)	December 31, 2024
Residential mortgage	$	123	$	54	$	55	$	232
Home equity	28		2		2		32
Total	$	151	$	56	$	57	$	264

	December 31, 2023
Residential mortgage	$	334	$	101	$	148	$	583
Home equity	58		5		25		88
Total	$	392	$	106	$	173	$	671

The following table provides the ending amortized cost of commercial loans modified during 2024 and 2023.



Commercial Loans - Modifications to Borrowers in Financial Difficulty


		Term Extension		Forbearances		Interest Rate Reduction		Total		As a % of Financing Receivables
(Dollars in millions)	Year Ended December 31, 2024
U.S. commercial		$	1,266	$	262	$	—	$	1,528	0.39	%
Non-U.S. commercial		27		—		—		27		0.02
Commercial real estate		1,849		444		100		2,393		3.64


Total		$	3,142	$	706	$	100	$	3,948	0.67

	Year Ended December 31, 2023
U.S. commercial		$	1,016	$	30	$	—	$	1,046	0.29	%
Non-U.S. commercial		136		—		24		160		0.13
Commercial real estate		1,656		416		—		2,072		2.84
Total		$	2,808	$	446	$	24	$	3,278	0.59

The table below provides aging information as of December 31, 2024 and 2023 for commercial loans that were modified over the last 12 months.



Commercial - Payment Status of Modified Loans to Borrowers in Financial Difficulty


	Current		30–89 Days Past Due		90+ Days Past Due		Total
(Dollars in millions)	December 31, 2024
U.S. Commercial	$	1,346	$	70	$	112	$	1,528
Non-U.S. Commercial	27		—		—		27
Commercial Real Estate	2,100		90		203		2,393


Total	$	3,473	$	160	$	315	$	3,948


	December 31, 2023
U.S. Commercial	$	1,015	$	3	$	28	$	1,046
Non-U.S. Commercial	157		3		—		160
Commercial Real Estate	1,608		122		342		2,072
Total	$	2,780	$	128	$	370	$	3,278

The following table presents the December 31, 2022 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of consumer real estate loans that were modified in TDRs during 2022. 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. Binding trial modifications are classified as TDRs when the trial offer is made and continue to be classified as TDRs regardless of whether the borrower enters into a permanent modification.

At December 31, 2022, remaining commitments to lend additional funds to debtors whose terms have been modified in a consumer real estate TDR were not significant.



Consumer Real Estate – TDRs Entered into During 2022

		Unpaid Principal Balance		Carrying Value		Pre-Modification Interest Rate		Post-Modification Interest Rate (1)

(Dollars in millions)	December 31, 2022
Residential mortgage		$	1,144	$	1,015	3.52	%	3.40	%
Home equity		238		191		4.61		4.65
Total		$	1,382	$	1,206	3.71		3.62

(1) 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 December 31, 2022 carrying value for consumer real estate loans that were modified in a TDR during 2022, by type of modification.



Consumer Real Estate – Modification Programs

	TDRs Entered into During

(Dollars in millions)	2022
Modifications under government programs	$	2




Modifications under proprietary programs	1,100





Loans discharged in Chapter 7 bankruptcy (1)	14
Trial modifications	90
Total modifications	$	1,206

(1) 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 2022 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


(Dollars in millions)	2022

Modifications under proprietary programs	$	189
Loans discharged in Chapter 7 bankruptcy (1)	2
Trial modifications (2)	25
Total modifications	$	216

(1)Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs.

(2)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 December 31, 2022 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of loans that were modified in TDRs during 2022.



Credit Card and Other Consumer – TDRs Entered into During 2022

		Unpaid Principal Balance		Carrying Value (1)		Pre-Modification Interest Rate		Post-Modification Interest Rate

(Dollars in millions)	December 31, 2022
Credit card		$	284	$	293	22.34	%	3.89	%

Direct/Indirect consumer		6		5		5.51		5.50

Total		$	290	$	298	22.06		3.92

(1) Includes accrued interest and fees.

The table below presents the December 31, 2022 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during 2022 by program type.



Credit Card and Other Consumer – TDRs by Program Type (1)


(Dollars in millions)	2022


Internal programs	$	251
External programs	44
Other	3
Total	$	298

(1) Includes accrued interest and fees.

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 following table.



	Consumer Real Estate		Credit Card and Other Consumer		Commercial		Total




































(Dollars in millions)	2024


Allowance for loan and lease losses, January 1	$	386	$	8,134	$	4,822	$	13,342
Loans and leases charged off	(42)		(5,077)		(1,935)		(7,054)
Recoveries of loans and leases previously charged off	83		798		142		1,023
Net charge-offs	41		(4,279)		(1,793)		(6,031)
Provision for loan and lease losses	(135)		4,421		1,649		5,935
Other	1		1		(8)		(6)
Allowance for loan and lease losses, December 31	293		8,277		4,670		13,240
Reserve for unfunded lending commitments, January 1	82		—		1,127		1,209
Provision for unfunded lending commitments	(26)		—		(88)		(114)
Other	1		—		—		1
Reserve for unfunded lending commitments, December 31	57		—		1,039		1,096
Allowance for credit losses, December 31	$	350	$	8,277	$	5,709	$	14,336

	2023
Allowance for loan and lease losses, December 31	$	420	$	6,817	$	5,445	$	12,682
January 1, 2023 adoption of credit loss standard	(67)		(109)		(67)		(243)
Allowance for loan and lease losses, January 1	353		6,708		5,378		12,439
Loans and leases charged off	(103)		(3,870)		(844)		(4,817)
Recoveries of loans and leases previously charged off	146		737		135		1,018
Net charge-offs	43		(3,133)		(709)		(3,799)
Provision for loan and lease losses	(19)		4,558		186		4,725
Other	9		1		(33)		(23)
Allowance for loan and lease losses, December 31	386		8,134		4,822		13,342
Reserve for unfunded lending commitments, January 1	94		—		1,446		1,540
Provision for unfunded lending commitments	(12)		—		(319)		(331)

Reserve for unfunded lending commitments, December 31	82		—		1,127		1,209
Allowance for credit losses, December 31	$	468	$	8,134	$	5,949	$	14,551

	2022
Allowance for loan and lease losses, January 1	$	557	$	6,476	$	5,354	$	12,387
Loans and leases charged off	(206)		(2,755)		(478)		(3,439)
Recoveries of loans and leases previously charged off	224		882		161		1,267
Net charge-offs	18		(1,873)		(317)		(2,172)
Provision for loan and lease losses	(164)		2,215		409		2,460
Other	9		(1)		(1)		7
Allowance for loan and lease losses, December 31	420		6,817		5,445		12,682
Reserve for unfunded lending commitments, January 1	96		—		1,360		1,456
Provision for unfunded lending commitments	(3)		—		86		83
Other	1		—		—		1
Reserve for unfunded lending commitments, December 31	94		—		1,446		1,540
Allowance for credit losses, December 31	$	514	$	6,817	$	6,891	$	14,222