ALLOWANCE FOR CREDIT LOSSES, NONPERFORMING ASSETS, AND CONCENTRATIONS OF CREDIT RISK (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of changes in the allowance for credit losses

The following is a summary of changes in the allowance for credit losses:



	Six Months Ended June 30, 2015
(in millions)	Commercial			Retail			Total
Allowance for loan and lease losses as of January 1, 2015		$544			$651			$1,195
Charge-offs	(21		)	(215		)	(236		)
Recoveries	36			68			104
Net (charge-offs) recoveries	15			(147		)	(132		)
Sales/Other	—			(2		)	(2		)
Provision charged to income	6			134			140
Allowance for loan and lease losses as of June 30, 2015	565			636			1,201
Reserve for unfunded lending commitments as of January 1, 2015	61			—			61
Credit for unfunded lending commitments	(5		)	—			(5		)
Reserve for unfunded lending commitments as of June 30, 2015	56			—			56
Total allowance for credit losses as of June 30, 2015		$621			$636			$1,257



	Six Months Ended June 30, 2014
(in millions)	Commercial			Retail			Total
Allowance for loan and lease losses as of January 1, 2014		$498			$723			$1,221
Charge-offs	(14		)	(231		)	(245		)
Recoveries	35			55			90
Net (charge-offs) recoveries	21			(176		)	(155		)
Provision charged to income	(11		)	155			144
Allowance for loan and lease losses as of June 30, 2014	508			702			1,210
Reserve for unfunded lending commitments as of January 1, 2014	39			—			39
Credit for unfunded lending commitments	26			—			26
Reserve for unfunded lending commitments as of June 30, 2014	65			—			65
Total allowance for credit losses as of June 30, 2014		$573			$702			$1,275

Schedule of loans and leases based on evaluation method

The recorded investment in loans and leases based on the Company’s evaluation methodology is as follows:



	June 30, 2015						December 31, 2014
(in millions)	Commercial		Retail		Total		Commercial		Retail		Total
Individually evaluated		$156		$1,189		$1,345		$205		$1,208		$1,413
Formula-based evaluation	44,912		50,281		95,193		43,021		48,976		91,997
Total		$45,068		$51,470		$96,538		$43,226		$50,184		$93,410

Schedule of allowance for credit losses by evaluation method

The following is a summary of the allowance for credit losses by evaluation method:



	June 30, 2015						December 31, 2014
(in millions)	Commercial		Retail		Total		Commercial		Retail		Total
Individually evaluated		$21		$107		$128		$20		$109		$129
Formula-based evaluation	600		529		1,129		585		542		1,127
Allowance for credit losses		$621		$636		$1,257		$605		$651		$1,256

Schedule of classes of commercial loans and leases based on regulatory classifications

The recorded investment in classes of commercial loans and leases based on regulatory classification ratings is as follows:



	June 30, 2015
			Criticized
(in millions)	Pass		Special Mention		Substandard		Doubtful		Total
Commercial		$31,443		$865		$635		$84		$33,027
Commercial real estate	7,949		133		34		41		8,157
Leases	3,831		4		49		—		3,884
Total		$43,223		$1,002		$718		$125		$45,068



	December 31, 2014
			Criticized
(in millions)	Pass		Special Mention		Substandard		Doubtful		Total
Commercial		$30,022		$876		$427		$106		$31,431
Commercial real estate	7,354		329		61		65		7,809
Leases	3,924		12		50		—		3,986
Total		$41,300		$1,217		$538		$171		$43,226

Schedule of retail loan investments categorized by delinquency status

The recorded investment in classes of retail loans, categorized by delinquency status is as follows:



	June 30, 2015
(in millions)	Current		1-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total
Residential mortgages		$11,853		$89		$65		$246		$12,253
Home equity loans	2,652		187		48		135		3,022
Home equity lines of credit	14,253		406		73		185		14,917
Home equity loans serviced by others ⁽¹⁾	1,027		58		20		21		1,126
Home equity lines of credit serviced by others ⁽¹⁾	390		61		22		21		494
Automobile	12,817		784		104		22		13,727
Student	3,209		87		24		35		3,355
Credit cards	1,542		39		18		14		1,613
Other retail	889		57		14		3		963
Total		$48,632		$1,768		$388		$682		$51,470

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.



	December 31, 2014
(in millions)	Current		1-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total
Residential mortgages		$11,352		$114		$97		$269		$11,832
Home equity loans	2,997		222		60		145		3,424
Home equity lines of credit	14,705		447		73		198		15,423
Home equity loans serviced by others ⁽¹⁾	1,101		78		26		23		1,228
Home equity lines of credit serviced by others ⁽¹⁾	455		66		10		19		550
Automobile	11,839		758		93		16		12,706
Student	2,106		108		25		17		2,256
Credit cards	1,615		39		22		17		1,693
Other retail	985		65		18		4		1,072
Total		$47,155		$1,897		$424		$708		$50,184

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

Schedule of nonperforming loans and leases by class

A summary of nonperforming loans and leases by class is as follows:



	June 30, 2015						December 31, 2014
(in millions)	Nonaccruing		Accruing and 90 Days or More Delinquent		Total Nonperforming Loans and Leases		Nonaccruing		Accruing and 90 Days or More Delinquent		Total Nonperforming Loans and Leases
Commercial		$81		$2		$83		$113		$1		$114
Commercial real estate	42		—		42		50		—		50
Leases	—		—		—		—		—		—
Total commercial	123		2		125		163		1		164
Residential mortgages	329		—		329		345		—		345
Home equity loans	189		—		189		203		—		203
Home equity lines of credit	254		—		254		257		—		257
Home equity loans serviced by others ⁽¹⁾	44		—		44		47		—		47
Home equity lines of credit serviced by others ⁽¹⁾	26		—		26		25		—		25
Automobile	30		—		30		21		—		21
Student	30		5		35		11		6		17
Credit cards	14		—		14		16		1		17
Other retail	3		1		4		5		—		5
Total retail	919		6		925		930		7		937
Total		$1,042		$8		$1,050		$1,093		$8		$1,101

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

Schedule of nonperforming assets

A summary of other nonperforming assets is as follows:



(in millions)	June 30, 2015		December 31, 2014
Nonperforming assets, net of valuation allowance:
Commercial		$1		$3
Retail	37		39
Nonperforming assets, net of valuation allowance		$38		$42

Summary of key performance indicators

A summary of key performance indicators is as follows:



	June 30, 2015		December 31, 2014
Nonperforming commercial loans and leases as a percentage of total loans and leases	0.13	%	0.18	%
Nonperforming retail loans as a percentage of total loans and leases	0.96		1.00
Total nonperforming loans and leases as a percentage of total loans and leases	1.09	%	1.18	%

Nonperforming commercial assets as a percentage of total assets	0.09	%	0.13	%
Nonperforming retail assets as a percentage of total assets	0.70		0.73
Total nonperforming assets as a percentage of total assets	0.79	%	0.86	%

Analysis of age of past due amounts

The following is an analysis of the age of the past due amounts (accruing and nonaccruing):



	June 30, 2015						December 31, 2014
(in millions)	30-89 Days Past Due		90 Days or More Past Due		Total Past Due		30-89 Days Past Due		90 Days or More Past Due		Total Past Due
Commercial		$58		$83		$141		$57		$114		$171
Commercial real estate	25		42		67		26		50		76
Leases	2		—		2		3		—		3
Total commercial	85		125		210		86		164		250
Residential mortgages	65		246		311		97		269		366
Home equity loans	48		135		183		60		145		205
Home equity lines of credit	73		185		258		73		198		271
Home equity loans serviced by others ⁽¹⁾	20		21		41		26		23		49
Home equity lines of credit serviced by others ⁽¹⁾	22		21		43		10		19		29
Automobile	104		22		126		93		16		109
Student	24		35		59		25		17		42
Credit cards	18		14		32		22		17		39
Other retail	14		3		17		18		4		22
Total retail	388		682		1,070		424		708		1,132
Total		$473		$807		$1,280		$510		$872		$1,382

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

Schedule of impaired loans by class

The following is a summary of impaired loan information by class:



	June 30, 2015
(in millions)	Impaired Loans With a Related Allowance		Allowance on Impaired Loans		Impaired Loans Without a Related Allowance		Unpaid Contractual Balance		Total Recorded Investment in Impaired Loans
Commercial		$80		$21		$44		$152		$124
Commercial real estate	13		—		19		30		32
Total commercial	93		21		63		182		156
Residential mortgages	124		17		314		599		438
Home equity loans	98		13		179		342		277
Home equity lines of credit	24		2		128		184		152
Home equity loans serviced by others ⁽¹⁾	57		9		27		96		84
Home equity lines of credit serviced by others ⁽¹⁾	3		1		8		15		11
Automobile	3		—		10		18		13
Student	166		48		1		168		167
Credit cards	30		12		—		30		30
Other retail	15		5		2		20		17
Total retail	520		107		669		1,472		1,189
Total		$613		$128		$732		$1,654		$1,345

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.



	December 31, 2014
(in millions)	Impaired Loans With a Related Allowance		Allowance on Impaired Loans		Impaired Loans Without a Related Allowance		Unpaid Contractual Balance		Total Recorded Investment in Impaired Loans
Commercial		$124		$19		$36		$178		$160
Commercial real estate	7		1		38		62		45
Total commercial	131		20		74		240		205
Residential mortgages	157		18		288		605		445
Home equity loans	129		11		141		335		270
Home equity lines of credit	75		3		86		193		161
Home equity loans serviced by others ⁽¹⁾	75		9		16		102		91
Home equity lines of credit serviced by others ⁽¹⁾	4		1		7		14		11
Automobile	2		1		9		16		11
Student	167		48		—		167		167
Credit cards	32		13		—		32		32
Other retail	17		5		3		23		20
Total retail	658		109		550		1,487		1,208
Total		$789		$129		$624		$1,727		$1,413

⁽¹⁾The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

Schedule of additional information on impaired loans

Additional information on impaired loans is as follows:



	Three Months Ended June 30,
	2015				2014
(in millions)	Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Commercial		$1		$129		$1		$96
Commercial real estate	—		51		—		94
Total commercial	1		180		1		190
Residential mortgages	4		436		4		444
Home equity loans	3		272		2		257
Home equity lines of credit	1		151		1		160
Home equity loans serviced by others ⁽¹⁾	1		84		2		101
Home equity lines of credit serviced by others ⁽¹⁾	—		10		—		8
Automobile	—		12		—		8
Student	2		164		2		159
Credit cards	—		30		—		37
Other retail	—		18		—		22
Total retail	11		1,177		11		1,196
Total		$12		$1,357		$12		$1,386

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.



	Six Months Ended June 30,
	2015				2014
(in millions)	Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Commercial		$1		$133		$1		$102
Commercial real estate	1		54		—		96
Total commercial	2		187		1		198
Residential mortgages	8		433		7		437
Home equity loans	5		266		4		249
Home equity lines of credit	2		150		2		157
Home equity loans serviced by others ⁽¹⁾	2		84		3		100
Home equity lines of credit serviced by others ⁽¹⁾	—		10		—		8
Automobile	—		11		—		8
Student	4		162		4		156
Credit cards	1		29		1		36
Other retail	—		18		—		23
Total retail	22		1,163		21		1,174
Total		$24		$1,350		$22		$1,372

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

Troubled debt restructurings on financing receivables

The following table summarizes how loans were modified during the three months ended June 30, 2015, the charge-offs related to the modifications, and the impact on the ALLL. The reported balances include loans that became TDRs during 2015 and were paid off in full, charged off, or sold prior to June 30, 2015.



	Primary Modification Types
	Interest Rate Reduction ⁽¹⁾					Maturity Extension ⁽²⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial	7		$1		$1	36		$2		$2
Commercial real estate	—	—		—		—	—		—
Total commercial	7	1		1		36	2		2
Residential mortgages	20	3		3		9	2		2
Home equity loans	26	1		1		49	11		11
Home equity lines of credit	—	—		—		—	—		—
Home equity loans serviced by others ⁽³⁾	5	—		—		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	—	—		—		—	—		—
Automobile	18	1		1		1	—		—
Student	—	—		—		—	—		—
Credit cards	630	3		3		—	—		—
Other retail	—	—		—		—	—		—
Total retail	699	8		8		59	13		13
Total	706		$9		$9	95		$15		$15



	Primary Modification Types
	Other ⁽⁴⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Net Change to ALLL Resulting from Modification		Charge-offs Resulting from Modification
Commercial	3		$—		$—		$—		$—
Commercial real estate	—	—		—		—		—
Total commercial	3	—		—		—		—
Residential mortgages	42	4		4		—		—
Home equity loans	97	7		7		—		—
Home equity lines of credit	78	5		5		—		1
Home equity loans serviced by others ⁽³⁾	25	1		1		—		—
Home equity lines of credit serviced by others ⁽³⁾	15	1		1		—		—
Automobile	172	3		2		—		—
Student	369	7		7		1		—
Credit card	—	—		—		1		—
Other retail	4	—		—		—		—
Total retail	802	28		27		2		1
Total	805		$28		$27		$2		$1

⁽¹⁾ Includes modifications that consist of multiple concessions, one of which is an interest rate reduction.

⁽²⁾ Includes modifications that consist of multiple concessions, one of which is a maturity extension (unless one of the other concessions was an interest rate reduction).

⁽³⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

⁽⁴⁾ Includes modifications other than interest rate reductions or maturity extensions, such as lowering scheduled payments for a specified period of time, principal forbearance, capitalizing arrearages, and principal forgiveness. Also included are the following: deferrals, trial modifications, certain bankruptcies, loans in forbearance and prepayment plans. Modifications can include the deferral of accrued interest resulting in post-modification balances being higher than pre-modification.

The following table summarizes how loans were modified during the three months ended June 30, 2014, the charge-offs related to the modifications, and the impact on the ALLL. The reported balances include loans that became TDRs during 2014 and were paid off in full, charged off, or sold prior to June 30, 2014.



	Primary Modification Types
	Interest Rate Reduction ⁽¹⁾					Maturity Extension ⁽²⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial	8		$6		$6	15		$1		$1
Commercial real estate	1	—		—		2	—		—
Total commercial	9	6		6		17	1		1
Residential mortgages	24	4		4		10	1		2
Home equity loans	37	2		2		10	1		—
Home equity lines of credit	1	—		—		106	7		6
Home equity loans serviced by others ⁽³⁾	4	—		—		—	—		—
Home equity lines of credit serviced by others⁽³⁾	1	—		—		1	—		—
Automobile	33	1		1		7	—		—
Student	—	—		—		—	—		—
Credit cards	608	3		3		—	—		—
Other retail	1	—		—		—	—		—
Total retail	709	10		10		134	9		8
Total	718		$16		$16	151		$10		$9



	Primary Modification Types
	Other ⁽⁴⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Net Change to ALLL Resulting from Modification			Charge-offs Resulting from Modification
Commercial	1		$—		$—		$—			$—
Commercial real estate	—	—		—		—			—
Total commercial	1	—		—		—			—
Residential mortgages	132	15		14		(1		)	—
Home equity loans	210	14		14		—			—
Home equity lines of credit	81	6		5		—			2
Home equity loans serviced by others ⁽³⁾	46	3		2		—			—
Home equity lines of credit serviced by others ⁽³⁾	13	—		—		—			—
Automobile	145	2		2		—			1
Student	457	8		8		—			—
Credit card	—	—		—		—			—
Other retail	9	—		—		—			—
Total retail	1,093	48		45		(1		)	3
Total	1,094		$48		$45		($1	)		$3

⁽¹⁾ Includes modifications that consist of multiple concessions, one of which is an interest rate reduction.

⁽²⁾ Includes modifications that consist of multiple concessions, one of which is a maturity extension (unless one of the other concessions was an interest rate reduction).

⁽³⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

The following table summarizes how loans were modified during the six months ended June 30, 2015, the charge-offs related to the modifications, and the impact on the ALLL. The reported balances include loans that became TDRs during 2015 and were paid off in full, charged off, or sold prior to June 30, 2015.



	Primary Modification Types
	Interest Rate Reduction ⁽¹⁾					Maturity Extension ⁽²⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial	14		$3		$3	64		$12		$12
Commercial real estate	1	—		—		—	—		—
Total commercial	15	3		3		64	12		12
Residential mortgages	53	9		9		19	4		4
Home equity loans	47	2		2		86	16		16
Home equity lines of credit	—	—		—		3	—		—
Home equity loans serviced by others ⁽³⁾	22	1		1		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	—	—		—		—	—		—
Automobile	38	1		1		2	—		—
Student	—	—		—		—	—		—
Credit cards	1,234	7		7		—	—		—
Other retail	—	—		—		—	—		—
Total retail	1,394	20		20		110	20		20
Total	1,409		$23		$23	174		$32		$32



	Primary Modification Types
	Other ⁽⁴⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Net Change to ALLL Resulting from Modification			Charge-offs Resulting from Modification
Commercial	4		$2		$2		($1	)		$—
Commercial real estate	1	4		4		—			—
Total commercial	5	6		6		(1		)	—
Residential mortgages	106	10		10		(1		)	—
Home equity loans	294	17		17		—			—
Home equity lines of credit	213	14		12		—			2
Home equity loans serviced by others ⁽³⁾	71	3		3		—			1
Home equity lines of credit serviced by others ⁽³⁾	22	1		1		—			—
Automobile	469	8		6		—			1
Student	750	14		14		3			—
Credit Card	—	—		—		1			—
Other retail	15	—		—		—			—
Total retail	1,940	67		63		3			4
Total	1,945		$73		$69		$2			$4

⁽¹⁾ Includes modifications that consist of multiple concessions, one of which is an interest rate reduction.

⁽²⁾ Includes modifications that consist of multiple concessions, one of which is a maturity extension (unless one of the other concessions was an interest rate reduction).

⁽³⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

⁽⁴⁾ Includes modifications other than interest rate reductions or maturity extensions, such as lowering scheduled payments for a specified period of time, principal forbearance, capitalizing arrearages, and principal forgiveness. Also included are the following: deferrals, trial modifications, certain bankruptcies, loans in forbearance and prepayment plans. Modifications can include the deferral of accrued interest resulting in post modification balances being higher than pre-modification.

The following table summarizes how loans were modified during the six months ended June 30, 2014, the charge-offs related to the modifications, and the impact on the ALLL. The reported balances include loans that became TDRs during 2014 and were paid off in full, charged off, or sold prior to June 30, 2014.



	Primary Modification Types
	Interest Rate Reduction ⁽¹⁾					Maturity Extension ⁽²⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial	15		$7		$7	28		$2		$2
Commercial real estate	2	—		—		2	—		—
Total commercial	17	7		7		30	2		2
Residential mortgages	66	10		10		22	3		3
Home equity loans	68	4		4		68	4		3
Home equity lines of credit	2	—		—		176	11		10
Home equity loans serviced by others ⁽³⁾	18	1		1		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	3	—		—		1	—		—
Automobile	55	1		1		7	—		—
Student	—	—		—		—	—		—
Credit cards	1,185	6		6		—	—		—
Other retail	3	—		—		—	—		—
Total retail	1,400	22		22		274	18		16
Total	1,417		$29		$29	304		$20		$18



	Primary Modification Types
	Other ⁽⁴⁾
(dollars in millions)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Net Change to ALLL Resulting from Modification		Charge-offs Resulting from Modification
Commercial	2		$—		$—		$—		$—
Commercial real estate	—	—		—		—		—
Total commercial	2	—		—		—		—
Residential mortgages	239	28		28		—		—
Home equity loans	523	34		32		—		2
Home equity lines of credit	159	11		9		—		3
Home equity loans serviced by others ⁽³⁾	85	3		3		—		—
Home equity lines of credit serviced by others ⁽³⁾	24	1		1		—		—
Automobile	417	6		4		—		2
Student	853	16		16		—		—
Credit Card	—	—		—		—		—
Other retail	29	1		1		—		—
Total retail	2,329	100		94		—		7
Total	2,331		$100		$94		$—		$7

⁽¹⁾ Includes modifications that consist of multiple concessions, one of which is an interest rate reduction.

⁽²⁾ Includes modifications that consist of multiple concessions, one of which is a maturity extension (unless one of the other concessions was an interest rate reduction).

⁽³⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

⁽⁴⁾ Includes modifications other than interest rate reductions or maturity extensions, such as lowering scheduled payments for a specified period of time, principal forbearance, capitalizing arrearages, and principal forgiveness. Also included are the following: deferrals, trial modifications, certain bankruptcies, loans in forbearance and prepayment plans. Modifications can include the deferral of accrued interest resulting in post modification balances being higher than pre-modification.

Schedule of defaults

The table below summarizes TDRs that defaulted during the three months ended June 30, 2015 and 2014 within 12 months of their modification date. For purposes of this table, a payment default is defined as being past due 90 days or more under the modified terms. Amounts represent the loan’s recorded investment at the time of payment default. Loan data includes loans meeting the criteria that were paid off in full, charged off, or sold prior to June 30, 2015 and 2014. If a TDR of any loan type becomes 90 days past due after being modified, the loan is written down to the fair value of collateral less cost to sell. The amount written off is charged to the ALLL.



	Three Months Ended June 30,
	2015			2014
(dollars in millions)	Number of Contracts	Balance Defaulted		Number of Contracts	Balance Defaulted
Commercial	8		$1	6		$2
Commercial real estate	—	—		—	—
Total commercial	8	1		6	2
Residential mortgages	34	5		95	12
Home equity loans	32	2		71	5
Home equity lines of credit	32	1		49	2
Home equity loans serviced by others ⁽¹⁾	7	—		18	1
Home equity lines of credit serviced by others ⁽¹⁾	6	—		3	—
Automobile	19	—		26	1
Student	44	1		94	1
Credit cards	100	1		147	1
Other retail	1	—		3	—
Total retail	275	10		506	23
Total	283		$11	512		$25

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

The table below summarizes TDRs that defaulted during the six months ended June 30, 2015 and 2014 within 12 months of their modification date.



	Six Months Ended June 30,
	2015			2014
(dollars in millions)	Number of Contracts	Balance Defaulted		Number of Contracts	Balance Defaulted
Commercial	14		$1	17		$3
Commercial real estate	—	—		1	1
Total commercial	14	1		18	4
Residential mortgages	83	11		135	16
Home equity loans	83	6		155	11
Home equity lines of credit	72	3		139	6
Home equity loans serviced by others ⁽¹⁾	23	1		34	1
Home equity lines of credit serviced by others ⁽¹⁾	7	—		12	—
Automobile	42	1		58	1
Student	109	2		191	3
Credit cards	202	1		313	2
Other retail	3	—		9	—
Total retail	624	25		1,046	40
Total	638		$26	1,064		$44

⁽¹⁾ The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others. The Company now services a portion of this portfolio internally.

Schedule of loans that may increase credit exposure

The following table presents balances of loans with these characteristics:



	June 30, 2015
(in millions)	Residential Mortgages		Home Equity Loans and Lines of Credit		Home Equity Products serviced by others		Credit Cards		Total
High loan-to-value		$748		$1,400		$974		$—		$3,122
Interest only/negative amortization	961		—		—		—		961
Low introductory rate	—		1		—		90		91
Multiple characteristics and other	20		—		—		—		20
Total		$1,729		$1,401		$974		$90		$4,194



	December 31, 2014
(in millions)	Residential Mortgages		Home Equity Loans and Lines of Credit		Home Equity Products serviced by others		Credit Cards		Total
High loan-to-value		$773		$1,743		$1,025		$—		$3,541
Interest only/negative amortization	894		—		—		—		894
Low introductory rate	—		—		—		98		98
Multiple characteristics and other	24		—		—		—		24
Total		$1,691		$1,743		$1,025		$98		$4,557