Loans and Related Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2024

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

Loans Outstanding

Table 5.1 presents total loans outstanding by portfolio segment and class of financing receivable. Loans are reported at their outstanding principal balances net of any unearned income, cumulative charge-offs, unamortized deferred fees and costs on originated loans, and unamortized premiums or discounts on purchased loans. These amounts were less than 1% of our total loans outstanding at both September 30, 2024, and December 31, 2023.

Outstanding balances exclude accrued interest receivable on loans, except for certain revolving loans, such as credit card loans.

See Note 7 (Intangible Assets and Other Assets) for additional information on accrued interest receivable. Amounts considered to be uncollectible are reversed through interest income. During the first nine months of 2024, we reversed accrued interest receivable of $33 million for our commercial portfolio segment and $300 million for our consumer portfolio segment, compared with $31 million and $188 million, respectively, for the same period a year ago.

Table 5.1: Loans Outstanding

(in millions)	Sep 30, 2024		Dec 31, 2023
Commercial and industrial	$	372,750	380,388
Commercial real estate	141,410		150,616
Lease financing	16,482		16,423
Total commercial	530,642		547,427
Residential mortgage	252,676		260,724
Credit card	55,046		52,230
Auto	42,815		47,762
Other consumer (1)	28,532		28,539
Total consumer	379,069		389,255
Total loans	$	909,711	936,682

(1)Includes $20.3 billion and $18.3 billion at September 30, 2024, and December 31, 2023, respectively, of securities-based loans originated by the Wealth and Investment Management (WIM) operating segment.

Our non-U.S. loans are reported by respective class of financing receivable in the table above. Substantially all of our non-U.S. loan portfolio is commercial loans. Table 5.2 presents

total non-U.S. commercial loans outstanding by class of financing receivable.

Table 5.2: Non-U.S. Commercial Loans Outstanding

(in millions)	Sep 30, 2024		Dec 31, 2023
Commercial and industrial	$	63,334	72,215
Commercial real estate	6,018		6,916
Lease financing	644		697
Total non-U.S. commercial loans	$	69,996	79,828

Loan Purchases, Sales, and Transfers

Table 5.3 presents the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale. The table excludes loans for

which we have elected the fair value option and government insured/guaranteed loans because their loan activity normally does not impact the ACL.

Table 5.3: Loan Purchases, Sales, and Transfers

	2024				2023
(in millions)	Commercial		Consumer	Total	Commercial	Consumer	Total
Quarter ended September 30,
Purchases	$	101	1	102	456	2	458
Sales and net transfers (to)/from LHFS	(644)		2	(642)	(711)	—	(711)
Nine months ended September 30,
Purchases	$	399	3	402	1,067	306	1,373
Sales and net transfers (to)/from LHFS	(1,542)		(66)	(1,608)	(2,394)	(100)	(2,494)

Unfunded Credit Commitments

The contractual amount of our unfunded credit commitments, including unissued letters of credit, is summarized in Table 5.4. The table is presented net of commitments syndicated to others, including the fronting arrangements described above, and excludes issued letters of credit and discretionary amounts where our approval or consent is required prior to any loan funding or commitment increase.

Table 5.4: Unfunded Credit Commitments

(in millions)	Sep 30, 2024		Dec 31, 2023
Commercial and industrial	$	390,539	388,043
Commercial real estate	14,200		20,851
Total commercial	404,739		408,894
Residential mortgage (1)	26,053		29,754
Credit card	162,975		156,012
Other consumer	8,211		8,847
Total consumer	197,239		194,613
Total unfunded credit commitments	$	601,978	603,507

(1)Includes lines of credit totaling $24.2 billion and $28.6 billion as of September 30, 2024, and December 31, 2023, respectively.

Allowance for Credit Losses for Loans

Table 5.5 presents the ACL for loans, which consists of the allowance for loan losses and the allowance for unfunded credit commitments. The ACL for loans decreased $349 million from

December 31, 2023, reflecting decreases for auto loans, commercial real estate loans, and residential mortgage loans, partially offset by increases for credit card loans.

Table 5.5: Allowance for Credit Losses for Loans

	Quarter ended September 30,				Nine months ended September 30,
($ in millions)	2024			2023	2024			2023
Balance, beginning of period	$	14,789		14,786	$	15,088		13,609
Cumulative effect from change in accounting policy (1)	—			—	—			(429)
Balance, beginning of period, adjusted	14,789			14,786	15,088			13,180
Provision for credit losses	1,059			1,143	3,214			4,111
Loan charge-offs:
Commercial and industrial	(161)			(126)	(562)			(374)
Commercial real estate	(188)			(96)	(659)			(204)
Lease financing	(14)			(8)	(38)			(21)
Total commercial	(363)			(230)	(1,259)			(599)
Residential mortgage	(14)			(37)	(50)			(97)
Credit card	(700)			(503)	(2,109)			(1,407)
Auto	(158)			(223)	(505)			(623)
Other consumer	(144)			(124)	(431)			(339)
Total consumer	(1,016)			(887)	(3,095)			(2,466)
Total loan charge-offs	(1,379)			(1,117)	(4,354)			(3,065)
Loan recoveries:
Commercial and industrial	32			33	97			119
Commercial real estate	4			3	17			15
Lease financing	4			6	13			14
Total commercial	40			42	127			148
Residential mortgage	37			41	105			124
Credit card	99			83	282			247
Auto	75			85	231			275
Other consumer	17			16	48			53
Total consumer	228			225	666			699
Total loan recoveries	268			267	793			847
Net loan charge-offs	(1,111)			(850)	(3,561)			(2,218)
Other	2			(15)	(2)			(9)
Balance, end of period	$	14,739		15,064	$	14,739		15,064
Components:
Allowance for loan losses	$	14,330		14,554	$	14,330		14,554
Allowance for unfunded credit commitments	409			510	409			510
Allowance for credit losses	$	14,739		15,064	$	14,739		15,064
Net loan charge-offs (annualized) as a percentage of average total loans	0.49		%	0.36	0.52		%	0.31
Allowance for loan losses as a percentage of total loans	1.58			1.54	1.58			1.54
Allowance for credit losses for loans as a percentage of total loans	1.62			1.60	1.62			1.60

(1)Represents the change in our allowance for credit losses for loans as a result of our adoption of ASU 2022–02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, on January 1, 2023. For additional information, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2023 Form 10-K.

Allowance for Credit Losses for Loans Activity by Portfolio Segment

Table 5.6 summarizes the activity in the ACL by our commercial and consumer portfolio segments. 

Table 5.6: Allowance for Credit Losses for Loans Activity by Portfolio Segment

	2024				2023
(in millions)	Commercial		Consumer	Total	Commercial	Consumer	Total
Quarter ended September 30,
Balance, beginning of period	$	8,236	6,553	14,789	8,081	6,705	14,786
Provision for credit losses	178		881	1,059	433	710	1,143
Loan charge-offs	(363)		(1,016)	(1,379)	(230)	(887)	(1,117)
Loan recoveries	40		228	268	42	225	267
Net loan charge-offs	(323)		(788)	(1,111)	(188)	(662)	(850)
Other	1		1	2	(16)	1	(15)
Balance, end of period	$	8,092	6,647	14,739	8,310	6,754	15,064
Nine months ended September 30,
Balance, beginning of period	$	8,412	6,676	15,088	6,956	6,653	13,609
Cumulative effect from change in accounting policy (1)	—		—	—	27	(456)	(429)
Balance, beginning of period, adjusted	8,412		6,676	15,088	6,983	6,197	13,180
Provision for credit losses	815		2,399	3,214	1,793	2,318	4,111
Loan charge-offs	(1,259)		(3,095)	(4,354)	(599)	(2,466)	(3,065)
Loan recoveries	127		666	793	148	699	847
Net loan charge-offs	(1,132)		(2,429)	(3,561)	(451)	(1,767)	(2,218)
Other	(3)		1	(2)	(15)	6	(9)
Balance, end of period	$	8,092	6,647	14,739	8,310	6,754	15,064

(1)Represents the change in our allowance for credit losses for loans as a result of our adoption of ASU 2022–02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, on January 1, 2023. For additional information, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2023 Form 10-K.

Commercial Loan Categories by Risk Categories and Vintage

Table 5.7 provides the outstanding balances of our commercial loan portfolio by risk category and credit quality information by origination year for term loans. Revolving loans may convert to term loans as a result of a contractual provision in the original loan agreement or if modified for a borrower experiencing financial difficulty. At September 30, 2024, we had $493.0 billion and $37.6 billion of pass and criticized commercial loans, respectively. Gross charge-offs by loan class are included in the following table for the nine months ended September 30, 2024, and year ended December 31, 2023, which we monitor as part of our credit risk management practices; however, charge-offs are not a primary credit quality indicator for our loan portfolio.

Table 5.7: Commercial Loan Categories by Risk Categories and Vintage

	Term loans by origination year							Revolving loans	Revolving loans converted to term loans	Total
(in millions)	2024		2023	2022	2021	2020	Prior
September 30, 2024
Commercial and industrial
Pass	$	32,728	25,799	27,504	16,172	5,211	12,692	235,017	1,099	356,222
Criticized	616		1,080	1,752	971	99	888	11,122	—	16,528
Total commercial and industrial	33,344		26,879	29,256	17,143	5,310	13,580	246,139	1,099	372,750
Gross charge-offs (1)	32		102	22	27	7	7	365	—	562
Commercial real estate
Pass	15,847		13,221	26,928	24,326	8,989	25,962	6,235	169	121,677
Criticized	1,834		2,389	5,698	4,917	1,408	3,192	295	—	19,733
Total commercial real estate	17,681		15,610	32,626	29,243	10,397	29,154	6,530	169	141,410
Gross charge-offs	7		61	63	78	129	321	—	—	659
Lease financing
Pass	2,769		5,262	3,038	1,689	681	1,707	—	—	15,146
Criticized	314		429	285	128	82	98	—	—	1,336
Total lease financing	3,083		5,691	3,323	1,817	763	1,805	—	—	16,482
Gross charge-offs	2		11	10	8	5	2	—	—	38
Total commercial loans	$	54,108	48,180	65,205	48,203	16,470	44,539	252,669	1,268	530,642
	Term loans by origination year							Revolving loans	Revolving loans converted to term loans	Total
	2023		2022	2021	2020	2019	Prior
December 31, 2023
Commercial and industrial
Pass	$	40,966	38,756	21,702	7,252	10,024	8,342	239,456	348	366,846
Criticized	892		1,594	1,237	160	204	480	8,975	—	13,542
Total commercial and industrial	41,858		40,350	22,939	7,412	10,228	8,822	248,431	348	380,388
Gross charge-offs (1)	102		22	53	11	8	7	307	—	510
Commercial real estate
Pass	18,181		33,557	30,629	12,001	11,532	19,686	6,537	163	132,286
Criticized	2,572		4,091	4,597	1,822	2,748	2,141	359	—	18,330
Total commercial real estate	20,753		37,648	35,226	13,823	14,280	21,827	6,896	163	150,616
Gross charge-offs	20		107	32	134	197	103	—	—	593
Lease financing
Pass	5,593		3,846	2,400	1,182	798	1,518	—	—	15,337
Criticized	345		292	182	98	84	85	—	—	1,086
Total lease financing	5,938		4,138	2,582	1,280	882	1,603	—	—	16,423
Gross charge-offs	3		8	8	5	4	3	—	—	31
Total commercial loans	$	68,549	82,136	60,747	22,515	25,390	32,252	255,327	511	547,427

(1) Includes charge-offs on overdrafts, which are generally charged-off at 60 days past due.

Commercial Loan Categories by Delinquency Status

Table 5.8 provides days past due (DPD) information for commercial loans, which we monitor as part of our credit risk management practices; however, delinquency is not a primary credit quality indicator for commercial loans.

Table 5.8: Commercial Loan Categories by Delinquency Status

	Still accruing				Nonaccrual loans	Total commercial loans
(in millions)	Current-29 DPD		30-89 DPD	90+ DPD
September 30, 2024
Commercial and industrial	$	370,641	1,097	269	743	372,750
Commercial real estate	136,362		671	262	4,115	141,410
Lease financing	16,184		204	—	94	16,482
Total commercial loans	$	523,187	1,972	531	4,952	530,642
December 31, 2023
Commercial and industrial	$	379,099	584	43	662	380,388
Commercial real estate	145,721		562	145	4,188	150,616
Lease financing	16,177		182	—	64	16,423
Total commercial loans	$	540,997	1,328	188	4,914	547,427

Credit Quality Indicators for Residential Mortgage Loans by Vintage

Table 5.9 provides the outstanding balances of our residential mortgage loans by our primary credit quality indicators.

Table 5.9: Credit Quality Indicators for Residential Mortgage Loans by Vintage

	Term loans by origination year							Revolving loans	Revolving loans converted to term loans
(in millions)	2024		2023	2022	2021	2020	Prior			Total
September 30, 2024
By delinquency status:
Current-29 DPD	$	7,971	12,137	44,104	60,003	33,485	73,376	6,350	6,417	243,843
30-89 DPD	2		11	84	59	36	710	32	138	1,072
90+ DPD	—		3	27	19	10	372	19	175	625
Government insured/guaranteed loans (1)	1		9	15	38	94	6,979	—	—	7,136
Total	$	7,974	12,160	44,230	60,119	33,625	81,437	6,401	6,730	252,676
By updated FICO:
740+	$	7,433	11,393	40,928	56,552	31,668	63,638	5,010	3,946	220,568
700-739	360		499	2,127	2,323	1,187	4,729	698	913	12,836
660-699	75		166	737	782	412	2,315	321	551	5,359
620-659	15		50	199	176	102	990	122	286	1,940
<620	8		12	139	136	57	1,288	149	457	2,246
No FICO available	82		31	85	112	105	1,498	101	577	2,591
Government insured/guaranteed loans (1)	1		9	15	38	94	6,979	—	—	7,136
Total	$	7,974	12,160	44,230	60,119	33,625	81,437	6,401	6,730	252,676
By updated LTV:
0-80%	$	7,830	11,627	41,344	59,390	33,303	73,997	6,324	6,622	240,437
80.01-100%	62		464	2,715	608	147	270	54	69	4,389
>100% (2)	7		34	110	41	24	39	12	15	282
No LTV available	74		26	46	42	57	152	11	24	432
Government insured/guaranteed loans (1)	1		9	15	38	94	6,979	—	—	7,136
Total	$	7,974	12,160	44,230	60,119	33,625	81,437	6,401	6,730	252,676
Gross charge-offs	$	—	—	—	1	—	22	1	26	50
	Term loans by origination year							Revolving loans	Revolving loans converted to term loans	Total
(in millions)	2023		2022	2021	2020	2019	Prior
December 31, 2023
By delinquency status:
Current-29 DPD	$	13,192	46,065	62,529	35,124	19,364	60,391	8,044	6,735	251,444
30-89 DPD	6		70	58	28	30	724	41	151	1,108
90+ DPD	—		18	12	8	14	327	24	201	604
Government insured/guaranteed loans (1)	5		15	39	97	112	7,300	—	—	7,568
Total	$	13,203	46,168	62,638	35,257	19,520	68,742	8,109	7,087	260,724
By updated FICO:
740+	$	12,243	42,550	58,827	33,232	18,000	50,938	6,291	4,092	226,173
700-739	679		2,324	2,510	1,219	888	4,478	883	979	13,960
660-699	185		843	861	422	310	2,261	417	601	5,900
620-659	45		227	179	110	66	978	150	322	2,077
<620	11		122	100	64	46	1,245	174	464	2,226
No FICO available	35		87	122	113	98	1,542	194	629	2,820
Government insured/guaranteed loans (1)	5		15	39	97	112	7,300	—	—	7,568
Total	$	13,203	46,168	62,638	35,257	19,520	68,742	8,109	7,087	260,724
By updated LTV:
0-80%	$	12,434	39,624	61,421	34,833	19,123	61,043	7,903	6,923	243,304
80.01-100%	687		6,286	1,065	232	203	207	103	114	8,897
>100% (2)	51		193	57	33	31	38	21	24	448
No LTV available	26		50	56	62	51	154	82	26	507
Government insured/guaranteed loans (1)	5		15	39	97	112	7,300	—	—	7,568
Total	$	13,203	46,168	62,638	35,257	19,520	68,742	8,109	7,087	260,724
Gross charge-offs	$	—	1	—	—	2	63	4	66	136

(1)Represents residential mortgage loans whose repayments are insured or guaranteed by U.S. government agencies, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Loans insured/guaranteed by U.S. government agencies and 90+ DPD totaled $2.7 billion and $2.6 billion at September 30, 2024, and December 31, 2023, respectively.

(2)Reflects total loan balances with LTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV.

Credit Quality Indicators for Credit Card Loans

Table 5.10 provides the outstanding balances of our credit card loan portfolio by primary credit quality indicators.

The revolving loans converted to term loans in the credit

card loan category represent credit card loans with modified terms that require payment over a specific term.

Table 5.10: Credit Quality Indicators for Credit Card Loans

	September 30, 2024				December 31, 2023
	Revolving loans		Revolving loans converted to term loans		Revolving loans	Revolving loans converted to term loans
(in millions)				Total			Total
By delinquency status:
Current-29 DPD	$	53,002	494	53,496	50,428	350	50,778
30-89 DPD	700		65	765	660	49	709
90+ DPD	750		35	785	717	26	743
Total	$	54,452	594	55,046	51,805	425	52,230
By updated FICO:
740+	$	20,971	27	20,998	19,153	21	19,174
700-739	12,201		69	12,270	11,727	51	11,778
660-699	10,873		121	10,994	10,592	84	10,676
620-659	5,266		108	5,374	5,273	76	5,349
<620	5,018		267	5,285	4,861	192	5,053
No FICO available	123		2	125	199	1	200
Total	$	54,452	594	55,046	51,805	425	52,230
Gross charge-offs	$	1,986	123	2,109	1,909	100	2,009

Credit Quality Indicators for Auto Loans by Vintage

Table 5.11 provides the outstanding balances of our Auto loan portfolio by primary credit quality indicators.

Table 5.11: Credit Quality Indicators for Auto Loans by Vintage

	Term loans by origination year
(in millions)	2024		2023	2022	2021	2020	Prior	Total
September 30, 2024
By delinquency status:
Current-29 DPD	$	10,104	10,233	9,491	8,389	2,543	1,018	41,778
30-89 DPD	18		60	279	402	129	69	957
90+ DPD	1		5	27	33	9	5	80
Total	$	10,123	10,298	9,797	8,824	2,681	1,092	42,815
By updated FICO:
740+	$	6,457	6,905	4,885	3,721	1,057	393	23,418
700-739	1,877		1,496	1,375	1,205	390	153	6,496
660-699	1,211		986	1,171	1,096	349	140	4,953
620-659	395		450	775	781	244	101	2,746
<620	179		456	1,567	1,984	622	294	5,102
No FICO available	4		5	24	37	19	11	100
Total	$	10,123	10,298	9,797	8,824	2,681	1,092	42,815
Gross charge-offs	$	4	35	190	213	44	19	505
	Term loans by origination year
(in millions)	2023		2022	2021	2020	2019	Prior	Total
December 31, 2023
By delinquency status:
Current-29 DPD	$	14,022	13,052	12,376	4,335	2,161	448	46,394
30-89 DPD	43		328	545	195	106	40	1,257
90+ DPD	4		34	49	14	7	3	111
Total	$	14,069	13,414	12,970	4,544	2,274	491	47,762
By updated FICO:
740+	$	9,460	6,637	5,487	1,853	963	176	24,576
700-739	2,232		1,969	1,861	701	347	68	7,178
660-699	1,405		1,745	1,729	623	295	61	5,858
620-659	572		1,162	1,228	425	195	46	3,628
<620	388		1,876	2,621	915	452	130	6,382
No FICO available	12		25	44	27	22	10	140
Total	$	14,069	13,414	12,970	4,544	2,274	491	47,762
Gross charge-offs	$	15	265	392	99	52	9	832

Credit Quality Indicators for Other Consumer Loans by Vintage

Table 5.12 provides the outstanding balances of our Other consumer loans portfolio by primary credit quality indicators.

Table 5.12: Credit Quality Indicators for Other Consumer Loans by Vintage

	Term loans by origination year							Revolving loans	Revolving loans converted to term loans
(in millions)	2024		2023	2022	2021	2020	Prior			Total
September 30, 2024
By delinquency status:
Current-29 DPD	$	1,522	2,129	1,354	337	93	70	22,782	114	28,401
30-89 DPD	3		24	23	4	1	2	23	4	84
90+ DPD	1		10	8	2	—	1	13	12	47
Total	$	1,526	2,163	1,385	343	94	73	22,818	130	28,532
By updated FICO:
740+	$	1,141	1,066	554	144	59	32	978	41	4,015
700-739	211		431	249	61	14	12	424	18	1,420
660-699	77		330	230	52	8	9	346	17	1,069
620-659	14		119	105	25	3	6	126	11	409
<620	7		112	119	39	4	7	142	18	448
No FICO available (1)	76		105	128	22	6	7	20,802	25	21,171
Total	$	1,526	2,163	1,385	343	94	73	22,818	130	28,532
Gross charge-offs (2)	$	100	133	104	27	4	4	51	8	431
	Term loans by origination year							Revolving loans	Revolving loans converted to term loans	Total
(in millions)	2023		2022	2021	2020	2019	Prior
December 31, 2023
By delinquency status:
Current-29 DPD	$	3,273	2,132	571	167	93	61	21,988	106	28,391
30-89 DPD	24		32	9	1	1	2	17	6	92
90+ DPD	9		14	3	1	—	1	15	13	56
Total	$	3,306	2,178	583	169	94	64	22,020	125	28,539
By updated FICO:
740+	$	1,911	926	265	85	36	28	1,152	27	4,430
700-739	642		409	107	27	14	10	507	16	1,732
660-699	403		365	93	16	11	8	395	16	1,307
620-659	129		166	45	6	6	5	147	11	515
<620	75		152	49	8	8	6	152	17	467
No FICO available (1)	146		160	24	27	19	7	19,667	38	20,088
Total	$	3,306	2,178	583	169	94	64	22,020	125	28,539
Gross charge-offs (2)	$	178	158	52	9	9	6	62	11	485

(1)Substantially all loans are revolving securities-based loans originated by the WIM operating segment and therefore do not require a FICO score.

(2)Includes charge-offs on overdrafts, which are generally charged-off at 60 days past due.

Nonaccrual Loans

Table 5.13 provides loans on nonaccrual status. Nonaccrual loans may have an ACL or a negative allowance for credit losses from expected recoveries of amounts previously written off.

Table 5.13: Nonaccrual Loans

	Outstanding balance					Recognized interest income
	Nonaccrual loans			Nonaccrual loans without related allowance for credit losses (1)		Nine months ended September 30,
(in millions)	Sep 30, 2024		Dec 31, 2023	Sep 30, 2024	Dec 31, 2023	2024	2023
Commercial and industrial	$	743	662	58	149	14	14
Commercial real estate	4,115		4,188	110	107	14	22
Lease financing	94		64	15	10	—	—
Total commercial	4,952		4,914	183	266	28	36
Residential mortgage	3,086		3,192	1,965	2,047	136	146
Auto	99		115	—	—	11	15
Other consumer	35		35	—	—	3	3
Total consumer	3,220		3,342	1,965	2,047	150	164
Total nonaccrual loans	$	8,172	8,256	2,148	2,313	178	200

(1)Nonaccrual loans may not have an allowance for credit losses if the loss expectations are zero given the related collateral value.

Loans 90 Days or More Past Due and Still Accruing

Table 5.14 shows loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed.

Table 5.14: Loans 90 Days or More Past Due and Still Accruing

(in millions)	Sep 30, 2024		Dec 31, 2023
Total:	$	4,139	3,751
Less: government insured/guaranteed loans (1)	2,689		2,646
Total, not government insured/guaranteed	$	1,450	1,105
By segment and class, not government insured/guaranteed:
Commercial and industrial	$	269	43
Commercial real estate	262		145
Total commercial	531		188
Residential mortgage	28		31
Credit card	785		743
Auto	71		101
Other consumer	35		42
Total consumer	919		917
Total, not government insured/guaranteed	$	1,450	1,105

(1)Represents residential mortgage loans whose repayments are insured or guaranteed by U.S. government agencies, such as the FHA or the VA

Commercial Loan Modifications and Financial Effects

Table 5.15 presents the outstanding balance of modified commercial loans and the related financial effects of these modifications.

Table 5.15: Commercial Loan Modifications and Financial Effects

	Quarter ended September 30,				Nine months ended September 30,
($ in millions)	2024			2023	2024	2023
Commercial and industrial modifications:
Term extension	$	347		187	653	280
All other modifications and combinations	59			106	148	135
Total commercial and industrial modifications	$	406		293	801	415
Total commercial and industrial modifications as a % of loan class	0.11		%	0.08	0.21	0.11
Financial effects:
Weighted average interest rate reduction (1)	15.74		%	15.28	18.81	14.49
Weighted average payments deferred (months)	11			6	9	5
Weighted average term extension (months)	32			13	21	13
Commercial real estate modifications:
Term extension	$	1,231		335	1,637	442
All other modifications and combinations	135			—	179	10
Total commercial real estate modifications	$	1,366		335	1,816	452
Total commercial real estate modifications as a % of loan class	0.97		%	0.22	1.28	0.30
Financial effects:
Weighted average interest rate reduction	0.30		%	1.95	0.48	3.54
Weighted average payments deferred (months)	27			6	28	13
Weighted average term extension (months)	19			23	24	21

(1)Includes modifications for small business credit card customers.

Payment Performance of Commercial Loan Modifications

Table 5.16 provides past due information as of September 30, 2024, for commercial loans that received a modification in the past 12 months and past due information as

of September 30, 2023, for commercial loans that received a modification in the first nine months of 2023. For loan modifications that include a payment deferral, payment performance is not included in the table below until the loan exits the deferral period and payments resume. The table also includes the amount of gross charge-offs that occurred on these modifications during the third quarter and first nine months of both 2024 and 2023.

Table 5.16: Payment Performance of Commercial Loan Modifications

	By delinquency status					Gross charge-offs
(in millions)	Current-29 DPD		30-89 DPD	90+ DPD	Total	Quarter ended	Nine months ended
September 30, 2024
Commercial and industrial	$	789	29	10	828	11	106
Commercial real estate	1,885		27	127	2,039	—	—
Total commercial	$	2,674	56	137	2,867	11	106
September 30, 2023
Commercial and industrial	$	275	27	2	304	27	42
Commercial real estate	449		2	—	451	—	—
Total commercial	$	724	29	2	755	27	42

Consumer Loan Modifications and Financial Effects

Table 5.17 presents the outstanding balance of modified consumer loans and the related financial effects of these modifications. Modified loans within the Auto and Other consumer loan classes were insignificant for the third quarter and first nine months of both 2024 and 2023, and accordingly, are excluded from the following tables and disclosures.

Loans in a trial payment period are not included in the following loan modification disclosures until the borrower has successfully completed the trial period and the loan modification is formally executed. Residential mortgage loans in a trial payment period totaled $113 million and $115 million at September 30, 2024 and 2023, respectively.

Table 5.17: Consumer Loan Modifications and Financial Effects

	Quarter ended September 30,				Nine months ended September 30,
($ in millions)	2024			2023	2024	2023
Residential mortgage modifications (1):
Payment delay	$	97		27	290	433
Term extension	11			15	30	55
Term extension and payment delay	22			22	74	73
Interest rate reduction, and term extension, and payment delay	12			18	36	68
All other modifications and combinations	9			15	30	49
Total residential mortgage modifications	$	151		97	460	678
Total residential mortgage modifications as a % of loan class	0.06		%	0.04	0.18	0.26
Financial effects:
Weighted average interest rate reduction	1.77		%	1.68	1.80	1.60
Weighted average payments deferred (months) (2)	6			6	6	4
Weighted average term extension (years)	10.7			9.4	10.8	9.7
Credit card modifications:
Interest rate reduction	$	289		151	576	348
Total credit card modifications	$	289		151	576	348
Total credit card modifications as a % of loan class	0.53		%	0.30	1.05	0.70
Financial effects:
Weighted average interest rate reduction	22.25		%	21.79	22.14	21.41

(1)Payment delay modifications include loan modifications that defer a set amount of principal to the end of the loan term. The outstanding balance of loans with principal deferred to the end of the loan term was $87 million and $49 million in third quarter 2024 and 2023, respectively, and $284 million and $174 million for the first nine months of 2024 and 2023, respectively.

(2)Excludes the financial effects of loans with a set amount of principal deferred to the end of the loan term. The weighted average period of principal deferred was 24.8 years and 27.3 years in third quarter 2024 and 2023, respectively, and 24.9 years and 27.0 years for the first nine months of 2024 and 2023, respectively.

Payment Performance of Consumer Loan Modifications

Table 5.18 provides past due information as of September 30, 2024, for consumer loans that received a modification in the past 12 months and past due information as of September 30, 2023, for consumer loans that received a modification in the first nine months of 2023. The table also includes the amount of gross charge-offs that occurred on these modifications during the third quarter and first nine months of both 2024 and 2023.

Table 5.18: Payment Performance of Consumer Loan Modifications

	By delinquency status					Gross charge-offs
(in millions)	Current-29 DPD		30-89 DPD	90+ DPD	Total	Quarter ended	Nine months ended
September 30, 2024
Residential mortgage (1)	$	411	127	98	636	—	5
Credit card (2)	567		109	74	750	57	140
Total consumer	$	978	236	172	1,386	57	145
September 30, 2023
Residential mortgage (1)	$	377	80	191	648	1	7
Credit card (2)	261		52	35	348	25	45
Total consumer	$	638	132	226	996	26	52

(1)Loan modifications in an active payment deferral are excluded. Includes loans where delinquency status was not reset to current upon exit from the deferral period.

(2)Credit card loans that are past due at the time of the modification do not become current until they have three consecutive months of payment performance.