XML 49 R37.htm IDEA: XBRL DOCUMENT v3.21.1
Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
Allowance for Credit Loss
The following table provides information regarding changes in the total allowance for credit losses during the three months ended March 31, 2021 and 2020.
TABLE 47: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES
THREE MONTHS ENDED MARCH 31, 2021
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITDEBT SECURITIES HELD TO MATURITYOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$190.7 $61.1 $7.3 $0.8 $259.9 
Charge-Offs(0.4)— — — (0.4)
Recoveries1.3 — — — 1.3 
Net Recoveries (Charge-Offs)0.9 — — — 0.9 
Provision for Credit Losses(26.2)(6.0)1.3 0.9 (30.0)
Balance at End of Period$165.4 $55.1 $8.6 $1.7 $230.8 
THREE MONTHS ENDED MARCH 31, 2020
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITDEBT SECURITIES HELD TO MATURITYOTHER FINANCIAL ASSETSTOTAL
Balance at End of Prior Period$104.5 $19.9 $— $— $124.4 
Cumulative Effect Adjustment(2.2)8.9 6.6 0.4 13.7 
Balance at Beginning of Period$102.3 $28.8 $6.6 $0.4 $138.1 
Charge-Offs(1.8)— — — (1.8)
Recoveries1.1 — — — 1.1 
Net Recoveries (Charge-Offs) (0.7)— — — (0.7)
Provision for Credit Losses(1)
45.6 11.6 2.9 0.7 60.8 
Balance at End of Period$147.2 $40.4 $9.5 $1.1 $198.2 
(1) The table excludes $0.2 million of credit losses recognized for corporate debt securities available for sale as of March 31, 2020. See further detail in Note 4 - Securities.
The following table provides information regarding changes in the total allowance for credit losses, including undrawn loan commitments and standby letters of credit, by segment during the three months ended March 31, 2021 and 2020.
TABLE 48: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO LOANS AND LEASES
THREE MONTHS ENDED MARCH 31, 2021
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$142.2 $48.5 $190.7 $57.6 $3.5 $61.1 
Charge-Offs— (0.4)(0.4)— — — 
Recoveries— 1.3 1.3 — — — 
Net Recoveries (Charge-Offs)— 0.9 0.9 — — — 
Provision for Credit Losses(17.5)(8.7)(26.2)(5.9)(0.1)(6.0)
Balance at End of Period$124.7 $40.7 $165.4 $51.7 $3.4 $55.1 
THREE MONTHS ENDED MARCH 31, 2020
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at End of Prior Period$58.1 $46.4 $104.5 $15.8 $4.1 $19.9 
Cumulative Effect Adjustment(5.9)3.7 (2.2)11.9 (3.0)8.9 
Balance at Beginning of Period$52.2 $50.1 $102.3 $27.7 $1.1 $28.8 
Charge-Offs(0.1)(1.7)(1.8)— — — 
Recoveries0.7 0.4 1.1 — — — 
Net Recoveries (Charge-Offs)0.6 (1.3)(0.7)— — — 
Provision for Credit Losses41.9 3.7 45.6 11.1 0.5 11.6 
Balance at End of Period$94.7 $52.5 $147.2 $38.8 $1.6 $40.4 
The following table provides information regarding the recorded investments in loans and leases and the allowance for credit losses for loans and leases and undrawn loan commitments and standby letters of credit by segment as of March 31, 2021 and December 31, 2020.
TABLE 49: RECORDED INVESTMENTS IN LOANS AND LEASES
MARCH 31, 2021DECEMBER 31, 2020
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Loans and Leases
Evaluated on an Individual Basis$61.4 $62.4 $123.8 $66.6 $65.1 $131.7 
Evaluated on a Collective Basis15,786.5 18,434.0 34,220.5 15,195.4 18,432.6 33,628.0 
Total Loans and Leases15,847.9 18,496.4 34,344.3 15,262.0 18,497.7 33,759.7 
Allowance for Credit Losses on Credit Exposures
Evaluated on an Individual Basis10.6 0.3 10.9 8.8 0.3 9.1 
Evaluated on a Collective Basis114.1 40.4 154.5 133.4 48.2 181.6 
Allowance Assigned to Loans and Leases124.7 40.7 165.4 142.2 48.5 190.7 
Allowance for Undrawn Loan Commitments and Standby Letters of Credit
Evaluated on an Individual Basis— — — 1.6 — 1.6 
Evaluated on a Collective Basis51.7 3.4 55.1 56.0 3.5 59.5 
Allowance Assigned to Undrawn Loan Commitments and Standby Letters of Credit51.7 3.4 55.1 57.6 3.5 61.1 
Total Allowance Assigned to Loans and Leases and Undrawn Loan Commitments and Standby Letters of Credit$176.4 $44.1 $220.5 $199.8 $52.0 $251.8 
Debt Securities, Held-to-maturity, Allowance for Credit Loss The following table provides information regarding changes in the total allowance for credit losses for debt securities held to maturity during the three months ended March 31, 2021 and March 31, 2020.
TABLE 50: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO DEBT SECURITIES HELD TO MATURITY
THREE MONTHS ENDED MARCH 31, 2021
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPERNATIONAL, AND NON-U.S. AGENCY BONDSCERTIFICATE OF DEPOSITSCOVERED BONDSOTHERTOTAL
Balance at Beginning of Period$0.8 $0.2 $1.2 $— $0.1 $5.0 $7.3 
Provision for Credit Losses0.3 0.7 0.6 — — (0.3)1.3 
Balance at End of Period$1.1 $0.9 $1.8 $— $0.1 $4.7 $8.6 
THREE MONTHS ENDED MARCH 31, 2020
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPERNATIONAL, AND NON-U.S. AGENCY BONDSCERTIFICATE OF DEPOSITSCOVERED BONDSOTHERTOTAL
Balance at End of Prior Period$— $— $— $— $— $— $— 
Cumulative Effect Adjustment0.8 0.3 0.9 — — 4.6 6.6 
Balance at Beginning of Period0.8 0.3 0.9 — — 4.6 6.6 
Provision for Credit Losses1.9 0.1 0.4 0.2 0.1 0.2 2.9 
Balance at End of Period$2.7 $0.4 $1.3 $0.2 $0.1 $4.8 $9.5 
Schedule of Accrued Liabilities
The following table provides the amount of accrued interest excluded from the amortized cost basis of the following portfolios.
TABLE 51: ACCRUED INTEREST
(In Millions)MARCH 31, 2021DECEMBER 31, 2020
Loans and Leases$59.4 $55.3 
Debt Securities
Held to Maturity$19.8 $26.5 
Available for Sale136.1 153.6 
Other Financial Assets$1.6 $1.4