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Loans and Related Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2024

Summary of the Classification of Portfolio Segments


Commercial						Consumer

• Commercial and industrial						• Residential real estate
• Commercial real estate						• Home equity
• Equipment lease financing						• Automobile
						• Credit card
						• Education
						• Other consumer

Analysis of Loan Portfolio

Table 48 presents the composition and delinquency status of our loan portfolio at December 31, 2024 and December 31, 2023. Loan delinquencies include government insured or guaranteed loans and loans accounted for under the fair value option.

Table 48: Analysis of Loan Portfolio (a) (b)


	Accruing
Dollars in millions	Current or Less Than 30 Days Past Due			30-59 Days Past Due			60-89 Days Past Due			90 Days or More Past Due			Total Past Due (c)				Nonperforming Loans			Fair Value Option Nonaccrual Loans (d)			Total Loans (e) (f)
December 31, 2024
Commercial
Commercial and industrial	$	174,988		$	159		$	43		$	72		$	274			$	528					$	175,790
Commercial real estate	32,657			25			18						43				919						33,619
Equipment lease financing	6,687			41			12						53				15						6,755
Total commercial	214,332			225			73			72			370				1,462						216,164
Consumer
Residential real estate	45,134			234			106			188			528			(c)	278			$	475		46,415
Home equity	25,351			71			26						97				482			61			25,991
Automobile	15,155			83			22			9			114				86						15,355
Credit card	6,696			49			38			81			168				15						6,879
Education	1,557			25			15			39			79			(c)							1,636
Other consumer	3,998			10			8			8			26				3						4,027
Total consumer	97,891			472			215			325			1,012				864			536			100,303
Total	$	312,223		$	697		$	288		$	397		$	1,382			$	2,326		$	536		$	316,467
Percentage of total loans	98.66		%	0.22		%	0.09		%	0.13		%	0.44		%		0.73		%	0.17		%	100.00		%
December 31, 2023
Commercial
Commercial and industrial	$	176,796		$	104		$	45		$	76		$	225			$	559					$	177,580
Commercial real estate	34,685			7						9			16				735						35,436
Equipment lease financing	6,480			41			8						49				13						6,542
Total commercial	217,961			152			53			85			290				1,307						219,558
Consumer
Residential real estate	46,159			282			101			192			575			(c)	294			$	516		47,544
Home equity	25,533			63			27						90				458			69			26,150
Automobile	14,638			91			20			7			118				104						14,860
Credit card	6,991			54			39			86			179				10						7,180
Education	1,850			27			19			49			95			(c)							1,945
Other consumer	4,227			16			11			10			37				7						4,271
Total consumer	99,398			533			217			344			1,094				873			585			101,950
Total	$	317,359		$	685		$	270		$	429		$	1,384			$	2,180		$	585		$	321,508
Percentage of total loans	98.71		%	0.21		%	0.08		%	0.13		%	0.43		%		0.68		%	0.18		%	100.00		%

(a)Amounts in table represent loans held for investment and do not include any associated ALLL.

(b)The accrued interest associated with our loan portfolio totaled $1.3 billion and $1.5 billion at December 31, 2024 and 2023, respectively. These amounts are included in Other assets on the Consolidated Balance Sheet.

(c)Past due loan amounts include government insured or guaranteed residential real estate loans and education loans totaling $0.3 billion and $0.1 billion at both December 31, 2024 and 2023, respectively.

(d)Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policy criteria. Given that these loans are not accounted for at amortized cost, they have been excluded from the nonperforming loan population.

(e)Includes unearned income, unamortized deferred fees and costs on originated loans and premiums or discounts on purchased loans totaling $1.0 billion at both December 31, 2024 and 2023, respectively.

(f)Collateral dependent loans totaled $1.6 billion and $1.4 billion at December 31, 2024 and 2023, respectively.

Nonperforming Assets

The following table presents our nonperforming assets as of December 31, 2024 and 2023:

Table 49: Nonperforming Assets


Dollars in millions	December 31, 2024			December 31, 2023
Nonperforming loans
Commercial	$	1,462		$	1,307
Consumer (a)	864			873
Total nonperforming loans (b)	2,326			2,180
OREO and foreclosed assets	31			36
Total nonperforming assets	$	2,357		$	2,216
Nonperforming loans to total loans	0.73		%	0.68		%
Nonperforming assets to total loans, OREO and foreclosed assets	0.74		%	0.69		%
Nonperforming assets to total assets	0.42		%	0.39		%

(a)Excludes most unsecured consumer loans and lines of credit, which are charged-off after 120 to 180 days past due and are not placed on nonperforming status.

(b)Nonperforming loans for which there is no related ALLL totaled $0.6 billion and $0.5 billion at December 31, 2024 and 2023, respectively. This primarily includes loans with a fair value of collateral that exceeds the amortized cost basis.

Credit Quality Indicators by Loan Class

The following matrix provides key credit risk characteristics that we use to estimate these risk parameters.

Loan Class

Probability of Default

Loss Given Default

Exposure at Default

Commercial

Commercial and industrial / Equipment lease financing

•For wholesale obligors: internal risk ratings based on borrower characteristics and industry

•For retail small balance obligors: credit score, delinquency status, and product type

•Collateral type, LTV, industry, size and outstanding exposure for secured loans

•Capital structure, industry and size for unsecured loans

•For retail small balance obligors, product type and credit scores

•Outstanding balances, commitment, contractual maturities and historical prepayment experience for loans

•Current utilization and historical pre-default draw experience for lines

Commercial real estate (CRE)

•Property performance metrics, property type, market and risk pool and internal risk ratings based on borrower characteristics

•Property type, LTV, market, risk pool and costs to sell

•Outstanding balances, commitment, contractual maturities and historical prepayment experience for loans

Consumer

Home equity / Residential real estate

•Borrower credit scores, delinquency status, origination vintage, LTV and contractual maturity

•Collateral characteristics, LTV and costs to sell

•Outstanding balances, contractual maturities and historical prepayment experience for loans

•Current utilization and historical pre-default draw experience for lines

Automobile

•Borrower credit scores, delinquency status, borrower income, LTV and contractual maturity

•New vs. used, LTV and borrower credit scores

•Outstanding balances, contractual maturities and historical prepayment experience

Credit card

•Borrower credit scores, delinquency status, utilization, payment behavior and months on book

•Borrower credit scores and credit line amount

•Paydown curves are developed using a pro-rata method and estimated using borrower behavior segments, payment ratios and borrower credit scores

Education / Other consumer

•Modeled using either discrete risk parameters or analytical approaches based on net charge-offs and paydown rates

The following matrix describes the key economic variables that are consumed during our forecast period by loan class, as well as other assumptions that are used for our reversion and long-run average approaches.


Loan Class	Forecast Period - Key Economic Variables	Reversion Method	Long-Run Average
Commercial
Commercial and industrial / Equipment lease financing	•GDP and Gross Domestic Investment measures, employment related variables and personal income and consumption measures	•Immediate reversion	•Average parameters determined based on internal and external historical data •Modeled parameters using long-run economic conditions for retail small balance obligors
Commercial real estate (CRE)	• CRE Price Index, unemployment rates, GDP, corporate bond yield and interest rates	• Immediate reversion	• Average parameters determined based on internal and external historical data
Consumer
Home equity / Residential real estate	•Unemployment rates, HPI and interest rates	•Straight-line over 3 years	•Modeled parameters using long-run economic conditions
Automobile	•Unemployment rates, HPI, disposable personal income and Manheim used car index	•Straight-line over 1 year	•Average parameters determined based on internal historical data
Credit card	•Unemployment rates, personal consumption expenditure and HPI	•Straight-line over 2 years	•Modeled parameters using long-run economic conditions
Education / Other consumer	•Modeled using either discrete risk parameters or analytical approaches based on net charge-offs and paydown rates

The following table presents credit quality indicators for our commercial loan classes:

Table 50: Commercial Credit Quality Indicators (a)


	Term Loans by Origination Year
December 31, 2024 In millions	2024			2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial
Pass Rated	$	22,145		$	13,815	$	17,043	$	5,275	$	4,594	$	11,270	$	91,389	$	522	$	166,053
Criticized	761			878		1,856		601		144		580		4,868		49		9,737
Total commercial and industrial loans	22,906			14,693		18,899		5,876		4,738		11,850		96,257		571		175,790
Gross charge-offs (b)	22		(c)	32		51		25		5		7		133		53		328
Commercial real estate
Pass Rated	2,331			5,575		6,875		2,232		1,220		9,685		423				28,341
Criticized	141			335		1,974		485		465		1,853		25				5,278
Total commercial real estate loans	2,472			5,910		8,849		2,717		1,685		11,538		448				33,619
Gross charge-offs (b)	28			5				2		1		322						358
Equipment lease financing
Pass Rated	1,814			1,264		1,112		478		478		1,305						6,451
Criticized	51			79		88		35		21		30						304
Total equipment lease financing loans	1,865			1,343		1,200		513		499		1,335						6,755
Gross charge-offs (b)	1			6		12		5		4		6						34
Total commercial loans	$	27,243		$	21,946	$	28,948	$	9,106	$	6,922	$	24,723	$	96,705	$	571	$	216,164
Total commercial gross charge-offs	$	51		$	43	$	63	$	32	$	10	$	335	$	133	$	53	$	720


	Term Loans by Origination Year
December 31, 2023 In millions	2023			2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial
Pass Rated	$	23,019		$	26,657	$	7,562	$	5,783	$	4,110	$	11,982	$	88,467	$	573	$	168,153
Criticized	838			1,781		739		331		281		698		4,708		51		9,427
Total commercial and industrial loans	23,857			28,438		8,301		6,114		4,391		12,680		93,175		624		177,580
Gross charge-offs (b)	25		(c)	32		33		8		3		26		105		12		244
Commercial real estate
Pass Rated	4,182			8,571		2,986		2,190		4,887		7,411		383				30,610
Criticized	155			1,300		455		490		622		1,753		51				4,826
Total commercial real estate loans	4,337			9,871		3,441		2,680		5,509		9,164		434				35,436
Gross charge-offs (b)								12		31		137						180
Equipment lease financing
Pass Rated	1,522			1,424		689		690		452		1,378						6,155
Criticized	90			81		81		51		35		49						387
Total equipment lease financing loans	1,612			1,505		770		741		487		1,427						6,542
Gross charge-offs (b)	4			4		4		4		1		1						18
Total commercial loans	$	29,806		$	39,814	$	12,512	$	9,535	$	10,387	$	23,271	$	93,609	$	624	$	219,558
Total commercial gross charge-offs	$	29		$	36	$	37	$	24	$	35	$	164	$	105	$	12	$	442

(a)Loans in our commercial portfolio are classified as Pass Rated or Criticized based on the regulatory definitions, which are driven by the PD and LGD ratings that we assign. The Criticized classification includes loans that were rated special mention, substandard or doubtful as of December 31, 2024 and 2023.

(b)Gross charge-offs are presented on a year-to-date basis, as of the period end date.

(c)Includes charge-offs of deposit overdrafts.

The following table presents credit quality indicators for our residential real estate and home equity loan classes:

Table 51: Credit Quality Indicators for Residential Real Estate and Home Equity Loan Classes


	Term Loans by Origination Year
December 31, 2024 In millions	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Residential real estate
Current estimated LTV ratios
Greater than 100%	$	10	$	55	$	85	$	52	$	23	$	32					$	257
Greater than or equal to 80% to 100%	591		485		954		601		171		111						2,913
Less than 80%	2,043		4,039		8,450		13,958		6,084		8,039						42,613
No LTV available							9				3						12
Government insured or guaranteed loans	1		16		23		17		66		497						620
Total residential real estate loans	$	2,645	$	4,595	$	9,512	$	14,637	$	6,344	$	8,682					$	46,415
Updated FICO scores
Greater than or equal to 780	$	1,730	$	3,264	$	7,584	$	11,723	$	4,683	$	4,858					$	33,842
720 to 779	789		805		1,406		2,035		1,004		1,567						7,606
660 to 719	115		270		401		620		324		784						2,514
Less than 660	9		108		90		156		116		696						1,175
No FICO score available	1		132		8		86		151		280						658
Government insured or guaranteed loans	1		16		23		17		66		497						620
Total residential real estate loans	$	2,645	$	4,595	$	9,512	$	14,637	$	6,344	$	8,682					$	46,415
Gross charge-offs (a)							$	1			$	2					$	3
Home equity (b)
Current estimated LTV ratios
Greater than 100%							$	1	$	12	$	17	$	368	$	372	$	770
Greater than or equal to 80% to 100%							5		31		30		1,098		1,619		2,783
Less than 80%							141		1,670		2,807		6,907		10,913		22,438
Total home equity loans							$	147	$	1,713	$	2,854	$	8,373	$	12,904	$	25,991
Updated FICO scores
Greater than or equal to 780							$	94	$	1,145	$	1,753	$	4,720	$	6,211	$	13,923
720 to 779							34		352		572		2,251		3,274		6,483
660 to 719							14		151		289		1,193		2,085		3,732
Less than 660							5		63		234		202		1,290		1,794
No FICO score available									2		6		7		44		59
Total home equity loans							$	147	$	1,713	$	2,854	$	8,373	$	12,904	$	25,991
Gross charge-offs (a)											$	1	$	16	$	19	$	36


(Continued from previous page)	Term Loans by Origination Year
December 31, 2023 In millions	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Residential real estate
Current estimated LTV ratios
Greater than 100%	$	15	$	139	$	79	$	31	$	10	$	28					$	302
Greater than or equal to 80% to 100%	1,665		1,928		955		221		69		92						4,930
Less than 80%	3,585		7,977		14,421		6,514		2,154		6,935						41,586
No LTV available	56				13						4						73
Government insured or guaranteed loans	14		20		16		66		37		500						653
Total residential real estate loans	$	5,335	$	10,064	$	15,484	$	6,832	$	2,270	$	7,559					$	47,544
Updated FICO scores
Greater than or equal to 780	$	3,206	$	7,797	$	12,197	$	5,035	$	1,492	$	4,004					$	33,731
720 to 779	1,482		1,659		2,389		1,107		432		1,388						8,457
660 to 719	400		508		657		334		171		721						2,791
Less than 660	93		71		133		122		82		680						1,181
No FICO score available	140		9		92		168		56		266						731
Government insured or guaranteed loans	14		20		16		66		37		500						653
Total residential real estate loans	$	5,335	$	10,064	$	15,484	$	6,832	$	2,270	$	7,559					$	47,544
Gross charge-offs (a)			$	2	$	1	$	1			$	4					$	8
Home equity (b)
Current estimated LTV ratios
Greater than 100%					$	1	$	12	$	6	$	14	$	306	$	309	$	648
Greater than or equal to 80% to 100%					4		40		17		22		1,116		1,743		2,942
Less than 80%					157		1,866		845		2,556		6,843		10,293		22,560
Total home equity loans					$	162	$	1,918	$	868	$	2,592	$	8,265	$	12,345	$	26,150
Updated FICO scores
Greater than or equal to 780					$	102	$	1,254	$	489	$	1,605	$	4,604	$	6,083	$	14,137
720 to 779					38		423		216		488		2,222		3,225		6,612
660 to 719					17		174		110		271		1,207		1,894		3,673
Less than 660					5		65		52		220		223		1,089		1,654
No FICO score available							2		1		8		9		54		74
Total home equity loans					$	162	$	1,918	$	868	$	2,592	$	8,265	$	12,345	$	26,150
Gross charge-offs (a)											$	4	$	7	$	10	$	21

(a)Gross charge-offs are presented on a year-to-date basis, as of the period end date.

(b)Beginning January 1, 2022, new originations consist of only revolving Home Equity Lines of Credit.

The following table presents credit quality indicators for our automobile, credit card, education and other consumer loan classes:

Table 52: Credit Quality Indicators for Automobile, Credit Card, Education and Other Consumer Loan Classes


	Term Loans by Origination Year
December 31, 2024 In millions	2024			2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Automobile
Updated FICO scores
Greater than or equal to 780	$	3,288		$	1,717	$	1,094	$	865	$	241	$	125					$	7,330
720 to 779	2,047			1,123		636		415		129		90						4,440
660 to 719	963			671		367		227		82		74						2,384
Less than 660	246			351		231		174		87		112						1,201
Total automobile loans	$	6,544		$	3,862	$	2,328	$	1,681	$	539	$	401					$	15,355
Gross charge-offs (a)	$	9		$	44	$	27	$	17	$	12	$	22					$	131
Credit card
Updated FICO scores
Greater than or equal to 780														$	2,090	$	2	$	2,092
720 to 779														1,859		5		1,864
660 to 719														1,815		16		1,831
Less than 660														936		57		993
No FICO score available or required (b)														97		2		99
Total credit card loans														$	6,797	$	82	$	6,879
Gross charge-offs (a)														$	316	$	39	$	355
Education
Updated FICO scores
Greater than or equal to 780	$	22		$	58	$	79	$	39	$	33	$	318					$	549
720 to 779	20			36		38		20		14		116						244
660 to 719	13			14		15		6		5		46						99
Less than 660	3			3		3		1		1		19						30
No FICO score available or required (b)	12			5		4		1				1						23
Total loans using FICO credit metric	70			116		139		67		53		500						945
Other internal credit metrics												691						691
Total education loans	$	70		$	116	$	139	$	67	$	53	$	1,191					$	1,636
Gross charge-offs (a)						$	1	$	1	$	1	$	16					$	19
Other consumer
Updated FICO scores
Greater than or equal to 780	$	245		$	129	$	64	$	20	$	5	$	6	$	37	$	1	$	507
720 to 779	292			141		70		21		6		6		72		1		609
660 to 719	203			97		72		22		8		6		79		1		488
Less than 660	20			33		34		15		6		5		40		1		154
Total loans using FICO credit metric	760			400		240		78		25		23		228		4		1,758
Other internal credit metrics	6			9		77		12		11		90		2,056		8		2,269
Total other consumer loans	$	766		$	409	$	317	$	90	$	36	$	113	$	2,284	$	12	$	4,027
Gross charge-offs (a)	$	76	(c)	$	27	$	26	$	13	$	8	$	9	$	11	$	1	$	171


(Continued from previous page)	Term Loans by Origination Year
December 31, 2023 In millions	2023			2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Automobile
Updated FICO scores
Greater than or equal to 780	$	2,722		$	1,650	$	1,483	$	535	$	368	$	88					$	6,846
720 to 779	1,797			1,104		778		301		250		80						4,310
660 to 719	1,014			604		408		186		186		70						2,468
Less than 660	264			272		243		152		200		105						1,236
Total automobile loans	$	5,797		$	3,630	$	2,912	$	1,174	$	1,004	$	343					$	14,860
Gross charge-offs (a)	$	8		$	24	$	22	$	17	$	30	$	20					$	121
Credit card
Updated FICO scores
Greater than or equal to 780														$	2,017	$	1	$	2,018
720 to 779														1,976		4		1,980
660 to 719														1,979		13		1,992
Less than 660														1,036		48		1,084
No FICO score available or required (b)														103		3		106
Total credit card loans														$	7,111	$	69	$	7,180
Gross charge-offs (a)														$	290	$	29	$	319
Education
Updated FICO scores
Greater than or equal to 780	$	35		$	88	$	45	$	40	$	51	$	331					$	590
720 to 779	32			47		24		19		24		131						277
660 to 719	20			17		8		6		8		54						113
Less than 660	4			3		2		1		2		21						33
No FICO score available or required (b)	15			5		4		2				1						27
Total loans using FICO credit metric	106			160		83		68		85		538						1,040
Other internal credit metrics												905						905
Total education loans	$	106		$	160	$	83	$	68	$	85	$	1,443					$	1,945
Gross charge-offs (a)						$	1	$	1	$	2	$	13					$	17
Other consumer
Updated FICO scores
Greater than or equal to 780	$	241		$	127	$	47	$	21	$	14	$	11	$	39	$	1	$	501
720 to 779	286			157		54		26		17		11		80		1		632
660 to 719	147			140		57		27		21		11		87		2		492
Less than 660	19			52		31		17		14		8		43		1		185
Total loans using FICO credit metric	693			476		189		91		66		41		249		5		1,810
Other internal credit metrics	19			97		33		48		71		34		2,149		10		2,461
Total other consumer loans	$	712		$	573	$	222	$	139	$	137	$	75	$	2,398	$	15	$	4,271
Gross charge-offs (a)	$	75	(c)	$	23	$	18	$	14	$	14	$	8	$	11	$	1	$	164

(a)Gross charge-offs are presented on a year-to-date basis, as of the period end date.

(b)Loans where FICO scores are not available or required generally refers to new accounts issued to borrowers with limited credit history, accounts for which we cannot obtain an updated FICO score (e.g., recent profile changes), cards issued with a business name and/or cards secured by collateral. Management proactively assesses the risk and size of this loan category and, when necessary, takes actions to mitigate the credit risk.

(c)Includes charge-offs of deposit overdrafts.

Financing Receivable, Modified

The following table presents the amortized cost basis, as of the period end date, of FDMs granted during the twelve months ended December 31, 2024:

Table 53: Loan Modifications Granted to Borrowers Experiencing Financial Difficulty (a) (b)


Year ended December 31, 2024 Dollars in millions	Interest Rate Reduction		Term Extension		Payment Delay		Repayment Plan		Interest Rate Reduction and Payment Delay		Interest Rate Reduction and Term Extension		Payment Delay and Term Extension		Other (c)		Total		% of Loan Class
Commercial
Commercial and industrial	$	14	$	995	$	34			$	15	$	111	$	154	$	106	$	1,429	0.81	%
Commercial real estate			964		94								232				1,290		3.84	%
Equipment lease financing			2														2		0.03	%
Total commercial	14		1,961		128				15		111		386		106		2,721		1.26	%
Consumer
Residential real estate			1		84						6				7		98		0.21	%
Home equity					13		$	7							18		38		0.15	%
Credit card							62										62		0.90	%
Education			5														5		0.31	%
Other consumer							1										1		0.02	%
Total consumer			6		97		70				6				25		204		0.20	%
Total	$	14	$	1,967	$	225	$	70	$	15	$	117	$	386	$	131	$	2,925	0.92	%

Year ended December 31, 2023 Dollars in millions	Interest Rate Reduction		Term Extension		Payment Delay		Repayment Plan		Interest Rate Reduction and Payment Delay		Interest Rate Reduction and Term Extension		Payment Delay and Term Extension		Other (c)		Total		% of Loan Class
Commercial
Commercial and industrial	$	13	$	683	$	65			$	14	$	18	$	156	$	150	$	1,099	0.62	%
Commercial real estate	47		816										17		87		967		2.73	%
Total commercial	60		1,499		65				14		18		173		237		2,066		0.94	%
Consumer
Residential real estate	2		1		95						5				6		109		0.23	%
Home equity			1		10		$	8							12		31		0.12	%
Credit card							58										58		0.81	%
Education			5														5		0.26	%
Other consumer							1										1		0.02	%
Total consumer	2		7		105		67				5				18		204		0.20	%
Total	$	62	$	1,506	$	170	$	67	$	14	$	23	$	173	$	255	$	2,270	0.71	%

(a)The unfunded lending related commitments on FDMs granted were $0.9 billion and $0.4 billion during the year ended December 31, 2024 and 2023, respectively.

(b)Excludes the amortized cost basis of modified loans that were paid off, charged-off or otherwise liquidated as of the period end date.

(c)Represents all other modifications, and includes trial modifications and loans where we have received notification that a borrower has filed for Chapter 7 bankruptcy relief, but specific instructions as to the terms of the relief have not been formally ruled upon by the court.

Table 54 presents the weighted average financial effect of FDMs granted during the twelve months ended December 31, 2024 and 2023:

Table 54: Financial Effect of FDMs (a)

Year ended December 31, 2024

Dollars in millions

Amortized cost basis (b)

Weighted Average Financial Effect

Term Extension

Commercial and industrial

$1,260

Extended contractual term by 16 months.

Commercial real estate

$1,196

Extended contractual term by 17 months.

Equipment lease financing

Extended contractual term by 43 months.

Residential real estate

Extended contractual term by 94 months.

Education

Extended contractual term by 13 months.

Interest Rate Reduction

Commercial and industrial

$140

Reduced contractual interest rate by 1.42%.

Residential real estate

Reduced contractual interest rate by 2.00%.

Payment Delay

Commercial and industrial

$203

Provided 8 months of payment deferral.

Commercial real estate

$326

Provided 8 months of payment deferral.

Residential real estate

$84

Provided 9 months of payment deferral.

Home equity

$13

Provided 4 months of payment deferral.

Year ended December 31, 2023

Dollars in millions

Amortized cost basis (b)

Weighted Average Financial Effect

Term Extension

Commercial and industrial

$857

Extended contractual term by 12 months.

Commercial real estate

$833

Extended contractual term by 14 months.

Residential real estate

Extended contractual term by 80 months.

Home equity

Extended contractual term by 232 months.

Education

Extended contractual term by 20 months.

Interest Rate Reduction

Commercial and industrial

$45

Reduced contractual interest rate by 2.70%.

Commercial real estate

$47

Reduced contractual interest rate by 4.54%.

Residential real estate

Reduced contractual interest rate by 1.34%.

Payment Delay

Commercial and industrial

$235

Provided 3 months of payment deferral.

Commercial real estate

$17

Provided 5 months of payment deferral.

Residential real estate

$95

Provided 9 months of payment deferral.

Home equity

$10

Provided 4 months of payment deferral.

(a)Excludes the financial effects of modifications for loans that were paid off, charged-off or otherwise liquidated as of the period end date.

(b)The amortized cost basis presented in Table 54 includes combination modification categories in addition to the standalone modification categories presented in Table 53. Primarily due to this reason, the amortized cost basis presented in Table 54 may not agree to the amortized cost basis presented alongside the standalone modification categories in Table 53. Amortized cost basis is as of the period end date.

After we modify a loan, we continue to track its performance under its most recent modified terms. The following table presents the performance, as of period end date, of FDMs granted during the year ended December 31, 2024 and 2023:

Table 55: Delinquency Status of FDMs (a) (b)


Year ended December 31, 2024 Dollars in millions	Current or Less Than 30 Days Past Due		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Nonperforming Loans		Total
Commercial
Commercial and industrial	$	1,191	$	9	$	4			$	225	$	1,429
Commercial real estate	864								426		1,290
Equipment lease financing	2										2
Total commercial	2,057		9		4				651		2,721
Consumer
Residential real estate	5		1						92		98
Home equity	4								34		38
Credit card	45		5		4		$	7	1		62
Education	5										5
Other consumer									1		1
Total consumer	59		6		4		7		128		204
Total	$	2,116	$	15	$	8	$	7	$	779	$	2,925

Year ended December 31, 2023 Dollars in millions	Current or Less Than 30 Days Past Due		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Nonperforming Loans		Total
Commercial
Commercial and industrial	$	828	$	14					$	257	$	1,099
Commercial real estate	863								104		967
Total commercial	1,691		14						361		2,066
Consumer
Residential real estate	15		1						93		109
Home equity	4								27		31
Credit card	41		5		$	4	$	7	1		58
Education	5										5
Other consumer									1		1
Total consumer	65		6		4		7		122		204
Total	$	1,756	$	20	$	4	$	7	$	483	$	2,270

(a)Represents amortized cost basis.

(b)Loans in our Payment Delay category are reported as past due in accordance with their contractual terms. Once contractually modified, these loans are reported as past due in accordance with their restructured terms.

Financing Receivable, Modified, Subsequent Default

Table 56: Subsequently Defaulted FDMs (a)


Year ended December 31, 2024 Dollars in millions	Interest Rate Reduction		Term Extension		Payment Delay		Repayment Plan		Payment Delay and Term Extension		All Other Modifications (b)		Total
Commercial
Commercial and industrial			$	87	$	17			$	3			$	107
Commercial real estate			46		33				37				116
Total commercial			133		50				40				223
Consumer
Residential real estate					43						$	8	51
Home equity					3		$	1			13		17
Credit card							32						32

Total consumer					46		33				21		100
Total			$	133	$	96	$	33	$	40	$	21	$	323

Year ended December 31, 2023 Dollars in millions	Interest Rate Reduction		Term Extension		Payment Delay		Repayment Plan				All Other Modifications (b)		Total
Commercial
Commercial and industrial			$	38	$	166					$	7	$	211
Commercial real estate	$	46	15										61
Total commercial	46		53		166						7		272
Consumer
Residential real estate	1				28						2		31
Home equity					2						10		12
Credit card							$	16					16
Total consumer	1				30		16				12		59
Total	$	47	$	53	$	196	$	16			$	19	$	331

(a)Represents amortized cost basis.

(b)As of December 31, 2024, the following modification categories are included: interest rate reduction, combination of interest rate reduction/payment delay, combination of interest rate reduction/term extension and other. As of December 31, 2023, the following modification categories are included: principal forgiveness, combinations of interest rate reduction/payment delay and interest rate reduction/term extension and other. There were no applicable values for the combination of payment delay/term extension.

Financial Impact and TDRs by Concession Type

Table 57: Financial Impact and TDRs by Concession Type (a)


	Number of Loans	Pre-TDR Amortized Cost Basis (b)		Post-TDR Amortized Cost Basis (c)
During the year ended December 31, 2022 Dollars in millions				Principal Forgiveness		Rate Reduction		Other		Total




Commercial	57	$	363	$	9	$	58	$	202	$	269
Consumer	10,809	162				123		22		145
Total TDRs	10,866	$	525	$	9	$	181	$	224	$	414

(a)Impact of partial charge-offs at TDR date are included in this table.

(b)Represents the amortized cost basis of the loans as of the quarter end prior to TDR designation.

(c)Represents the amortized cost basis of the TDRs as of the end of the quarter in which the TDR occurs.

Rollforward of Allowance for Credit Losses

A rollforward of the ACL related to loans follows:

Table 58: Rollforward of Allowance for Credit Losses


At or for the year ended December 31	2024						2023						2022
In millions	Commercial		Consumer		Total		Commercial		Consumer		Total		Commercial		Consumer		Total
Allowance for loan and lease losses
Beginning balance	$	3,259	$	1,532	$	4,791	$	3,114	$	1,627	$	4,741	$	3,185	$	1,683	$	4,868
Adoption of ASU 2022-02 (a)									(35)		(35)
Beginning balance, adjusted	3,259		1,532		4,791		3,114		1,592		4,706		3,185		1,683		4,868
Charge-offs	(720)		(715)		(1,435)		(442)		(650)		(1,092)		(307)		(678)		(985)
Recoveries	149		245		394		137		245		382		114		308		422
Net (charge-offs)	(571)		(470)		(1,041)		(305)		(405)		(710)		(193)		(370)		(563)
Provision for credit losses	464		277		741		447		345		792		126		313		439
Other	(4)		(1)		(5)		3				3		(4)		1		(3)
Ending balance	$	3,148	$	1,338	$	4,486	$	3,259	$	1,532	$	4,791	$	3,114	$	1,627	$	4,741
Allowance for unfunded lending related commitments (b)
Beginning balance	$	545	$	118	$	663	$	613	$	81	$	694	$	564	$	98	$	662
Provision for (recapture of) credit losses	36		20		56		(68)		37		(31)		49		(17)		32
Other	(1)		1
Ending balance	$	580	$	139	$	719	$	545	$	118	$	663	$	613	$	81	$	694
Allowance for credit losses at December 31 (c)	$	3,728	$	1,477	$	5,205	$	3,804	$	1,650	$	5,454	$	3,727	$	1,708	$	5,435

(a) Represents the impact of adopting ASU 2022-02 Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures on January 1, 2023. As a result of adoption, we eliminated the accounting guidance for TDRs, including the use of a discounted cash flow approach to measure the allowance for TDRs.

(b) See Note 10 Commitments for additional information about the underlying commitments related to this allowance.

(c) Represents the ALLL plus allowance for unfunded lending related commitments and excludes allowances for investment securities and other financial assets, which together totaled $114 million, $120 million and $176 million at December 31, 2024, 2023 and 2022 respectively.