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

9 Months Ended

Sep. 30, 2015

Schedule of changes in the allowance for credit losses

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



	Nine Months Ended September 30, 2015
(in millions)	Commercial			Retail			Total
Allowance for loan and lease losses as of January 1, 2015		$544			$651			$1,195
Charge-offs	(32		)	(324		)	(356		)
Recoveries	42			107			149
Net (charge-offs) recoveries	10			(217		)	(207		)
Provision charged to income	21			192			213
Allowance for loan and lease losses as of September 30, 2015	575			626			1,201
Reserve for unfunded lending commitments as of January 1, 2015	61			—			61
Credit for unfunded lending commitments	(2		)	—			(2		)
Reserve for unfunded lending commitments as of September 30, 2015	59			—			59
Total allowance for credit losses as of September 30, 2015		$634			$626			$1,260



	Nine Months Ended September 30, 2014
(in millions)	Commercial			Retail			Total
Allowance for loan and lease losses as of January 1, 2014		$498			$723			$1,221
Charge-offs	(30		)	(344		)	(374		)
Recoveries	47			84			131
Net (charge-offs) recoveries	17			(260		)	(243		)
Provision charged to income	27			196			223
Allowance for loan and lease losses as of September 30, 2014	542			659			1,201
Reserve for unfunded lending commitments as of January 1, 2014	39			—			39
Provision for unfunded lending commitments	24			—			24
Reserve for unfunded lending commitments as of September 30, 2014	63			—			63
Total allowance for credit losses as of September 30, 2014		$605			$659			$1,264

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:



	September 30, 2015						December 31, 2014
(in millions)	Commercial		Retail		Total		Commercial		Retail		Total
Individually evaluated		$194		$1,170		$1,364		$205		$1,208		$1,413
Formula-based evaluation	45,075		50,992		96,067		43,021		48,976		91,997
Total		$45,269		$52,162		$97,431		$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:



	September 30, 2015						December 31, 2014
(in millions)	Commercial		Retail		Total		Commercial		Retail		Total
Individually evaluated		$23		$104		$127		$20		$109		$129
Formula-based evaluation	611		522		1,133		585		542		1,127
Allowance for credit losses		$634		$626		$1,260		$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:



	September 30, 2015
			Criticized
(in millions)	Pass		Special Mention		Substandard		Doubtful		Total
Commercial		$31,005		$924		$712		$85		$32,726
Commercial real estate	8,326		207		103		42		8,678
Leases	3,796		22		47		—		3,865
Total		$43,127		$1,153		$862		$127		$45,269



	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:



	September 30, 2015
(in millions)	Current		1-29 Days Past Due		30-89 Days Past Due		90 Days or More Past Due		Total
Residential mortgages		$12,358		$107		$78		$249		$12,792
Home equity loans	2,478		179		46		139		2,842
Home equity lines of credit	14,060		401		77		169		14,707
Home equity loans serviced by others ⁽¹⁾	956		58		21		19		1,054
Home equity lines of credit serviced by others ⁽¹⁾	344		56		14		27		441
Automobile	12,859		858		130		29		13,876
Student	3,689		90		28		39		3,846
Credit cards	1,543		51		19		15		1,628
Other retail	902		55		15		4		976
Total		$49,189		$1,855		$428		$690		$52,162

⁽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:



	September 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		$7		$88		$113		$1		$114
Commercial real estate	42		—		42		50		—		50
Leases	—		—		—		—		—		—
Total commercial	123		7		130		163		1		164
Residential mortgages	324		—		324		345		—		345
Home equity loans	200		—		200		203		—		203
Home equity lines of credit	214		—		214		257		—		257
Home equity loans serviced by others ⁽¹⁾	39		—		39		47		—		47
Home equity lines of credit serviced by others ⁽¹⁾	31		—		31		25		—		25
Automobile	38		—		38		21		—		21
Student	32		7		39		11		6		17
Credit cards	15		—		15		16		1		17
Other retail	3		1		4		5		—		5
Total retail	896		8		904		930		7		937
Total		$1,019		$15		$1,034		$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)	September 30, 2015		December 31, 2014
Nonperforming assets, net of valuation allowance:
Commercial		$1		$3
Retail	38		39
Nonperforming assets, net of valuation allowance		$39		$42

Summary of key performance indicators

A summary of key performance indicators is as follows:



	September 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	0.93		1.00
Total nonperforming loans and leases as a percentage of total loans and leases	1.06	%	1.18	%

Nonperforming commercial assets as a percentage of total assets	0.10	%	0.13	%
Nonperforming retail assets as a percentage of total assets	0.69		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):



	September 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		$22		$88		$110		$57		$114		$171
Commercial real estate	3		42		45		26		50		76
Leases	—		—		—		3		—		3
Total commercial	25		130		155		86		164		250
Residential mortgages	78		249		327		97		269		366
Home equity loans	46		139		185		60		145		205
Home equity lines of credit	77		169		246		73		198		271
Home equity loans serviced by others ⁽¹⁾	21		19		40		26		23		49
Home equity lines of credit serviced by others ⁽¹⁾	14		27		41		10		19		29
Automobile	130		29		159		93		16		109
Student	28		39		67		25		17		42
Credit cards	19		15		34		22		17		39
Other retail	15		4		19		18		4		22
Total retail	428		690		1,118		424		708		1,132
Total		$453		$820		$1,273		$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:



	September 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		$84		$21		$70		$174		$154
Commercial real estate	23		2		17		37		40
Total commercial	107		23		87		211		194
Residential mortgages	119		16		311		593		430
Home equity loans	94		12		190		351		284
Home equity lines of credit	22		2		120		174		142
Home equity loans serviced by others ⁽¹⁾	53		8		26		91		79
Home equity lines of credit serviced by others ⁽¹⁾	3		1		7		14		10
Automobile	3		—		11		18		14
Student	164		48		1		166		165
Credit cards	29		12		—		29		29
Other retail	15		5		2		20		17
Total retail	502		104		668		1,456		1,170
Total		$609		$127		$755		$1,667		$1,364

⁽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 September 30,
	2015				2014
(in millions)	Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Commercial		$1		$126		$2		$138
Commercial real estate	—		35		—		62
Total commercial	1		161		2		200
Residential mortgages	4		428		4		445
Home equity loans	2		277		1		262
Home equity lines of credit	1		142		1		158
Home equity loans serviced by others ⁽¹⁾	1		79		1		95
Home equity lines of credit serviced by others ⁽¹⁾	—		10		—		11
Automobile	—		12		—		9
Student	1		165		2		161
Credit cards	—		29		1		34
Other retail	1		17		1		21
Total retail	10		1,159		11		1,196
Total		$11		$1,320		$13		$1,396

⁽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.



	Nine Months Ended September 30,
	2015				2014
(in millions)	Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Commercial		$2		$133		$2		$141
Commercial real estate	1		45		1		70
Total commercial	3		178		3		211
Residential mortgages	12		423		11		434
Home equity loans	7		263		5		248
Home equity lines of credit	3		140		3		153
Home equity loans serviced by others ⁽¹⁾	3		80		4		94
Home equity lines of credit serviced by others ⁽¹⁾	—		9		—		11
Automobile	—		11		—		8
Student	5		160		6		154
Credit cards	1		28		2		34
Other retail	1		18		1		21
Total retail	32		1,132		32		1,157
Total		$35		$1,310		$35		$1,368

⁽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 September 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 September 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	4		$—		$—	50		$7		$7
Commercial real estate	—	—		—		—	—		—
Total commercial	4	—		—		50	7		7
Residential mortgages	24	4		4		8	1		1
Home equity loans	30	2		2		72	14		14
Home equity lines of credit	1	—		—		2	—		—
Home equity loans serviced by others ⁽³⁾	2	—		—		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	—	—		—		—	—		—
Automobile	33	—		1		3	—		—
Student	—	—		—		—	—		—
Credit cards	547	3		3		—	—		—
Other retail	2	—		—		—	—		—
Total retail	639	9		10		85	15		15
Total	643		$9		$10	135		$22		$22



	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	8		$28		$28		$—		$1
Commercial real estate	—	—		—		—		—
Total commercial	8	28		28		—		1
Residential mortgages	78	9		9		—		—
Home equity loans	85	8		7		—		—
Home equity lines of credit	58	4		3		—		—
Home equity loans serviced by others ⁽³⁾	26	2		1		—		—
Home equity lines of credit serviced by others ⁽³⁾	12	1		1		—		—
Automobile	182	2		3		—		1
Student	151	2		3		1		—
Credit card	—	—		—		—		—
Other retail	4	—		—		—		—
Total retail	596	28		27		1		1
Total	604		$56		$55		$1		$2

⁽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 September 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 September 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	5		$—		$—	10		$2		$2
Commercial real estate	1	—		—		3	1		1
Total commercial	6	—		—		13	3		3
Residential mortgages	28	4		4		10	2		1
Home equity loans	24	2		3		8	—		2
Home equity lines of credit	5	—		—		69	4		3
Home equity loans serviced by others ⁽³⁾	8	—		—		—	—		—
Home equity lines of credit serviced by others⁽³⁾	—	—		—		—	—		—
Automobile	7	—		—		4	—		—
Student	—	—		—		—	—		—
Credit cards	513	3		3		—	—		—
Other retail	—	—		—		—	—		—
Total retail	585	9		10		91	6		6
Total	591		$9		$10	104		$9		$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	3		$—		$—		$—			$—
Commercial real estate	—	—		—		—			—
Total commercial	3	—		—		—			—
Residential mortgages	102	12		11		(1		)	1
Home equity loans	266	15		15		—			—
Home equity lines of credit	98	7		6		—			1
Home equity loans serviced by others ⁽³⁾	26	1		1		(1		)	—
Home equity lines of credit serviced by others ⁽³⁾	9	1		1		—			—
Automobile	256	5		3		—			1
Student	346	6		6		1			—
Credit card	—	—		—		—			—
Other retail	6	—		—		—			1
Total retail	1,109	47		43		(1		)	4
Total	1,112		$47		$43		($1	)		$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.

The following table summarizes how loans were modified during the nine months ended September 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 September 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	18		$3		$3	114		$19		$19
Commercial real estate	1	—		—		—	—		—
Total commercial	19	3		3		114	19		19
Residential mortgages	77	13		13		27	5		5
Home equity loans	77	4		4		158	30		30
Home equity lines of credit	1	—		—		5	—		—
Home equity loans serviced by others ⁽³⁾	24	1		1		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	—	—		—		—	—		—
Automobile	71	1		2		5	—		—
Student	—	—		—		—	—		—
Credit cards	1,781	10		10		—	—		—
Other retail	2	—		—		—	—		—
Total retail	2,033	29		30		195	35		35
Total	2,052		$32		$33	309		$54		$54



	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	12		$30		$30		($1	)		$1
Commercial real estate	1	4		4		—			—
Total commercial	13	34		34		(1		)	1
Residential mortgages	184	19		19		(1		)	—
Home equity loans	379	25		24		—			—
Home equity lines of credit	271	18		15		—			2
Home equity loans serviced by others ⁽³⁾	97	5		4		—			1
Home equity lines of credit serviced by others ⁽³⁾	34	2		2		—			—
Automobile	651	10		9		—			2
Student	901	16		17		4			—
Credit Card	—	—		—		1			—
Other retail	19	—		—		—			—
Total retail	2,536	95		90		4			5
Total	2,549		$129		$124		$3			$6

⁽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 nine months ended September 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 September 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	20		$7		$7	38		$4		$4
Commercial real estate	3	—		—		5	1		1
Total commercial	23	7		7		43	5		5
Residential mortgages	94	14		14		32	5		4
Home equity loans	92	6		7		76	4		5
Home equity lines of credit	7	—		—		245	15		13
Home equity loans serviced by others ⁽³⁾	26	1		1		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	3	—		—		1	—		—
Automobile	62	1		1		11	—		—
Student	—	—		—		—	—		—
Credit cards	1,698	9		9		—	—		—
Other retail	3	—		—		—	—		—
Total retail	1,985	31		32		365	24		22
Total	2,008		$38		$39	408		$29		$27



	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	5		$—		$—		($8	)		$—
Commercial real estate	—	—		—		—			—
Total commercial	5	—		—		(8		)	—
Residential mortgages	341	40		39		(3		)	1
Home equity loans	789	49		47		(1		)	2
Home equity lines of credit	257	18		15		—			4
Home equity loans serviced by others ⁽³⁾	111	4		4		(1		)	—
Home equity lines of credit serviced by others ⁽³⁾	33	2		2		—			—
Automobile	673	11		7		—			3
Student	1,199	22		22		2			—
Credit Card	—	—		—		—			—
Other retail	35	1		1		—			1
Total retail	3,438	147		137		(3		)	11
Total	3,443		$147		$137		($11	)		$11

⁽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 September 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 September 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 September 30,
	2015			2014
(dollars in millions)	Number of Contracts	Balance Defaulted		Number of Contracts	Balance Defaulted
Commercial	7		$1	5		$4
Commercial real estate	—	—		1	—
Total commercial	7	1		6	4
Residential mortgages	37	7		91	11
Home equity loans	47	6		104	8
Home equity lines of credit	26	3		52	3
Home equity loans serviced by others ⁽¹⁾	11	1		17	—
Home equity lines of credit serviced by others ⁽¹⁾	10	1		6	—
Automobile	24	—		30	—
Student	33	1		93	2
Credit cards	102	1		131	1
Other retail	1	—		2	—
Total retail	291	20		526	25
Total	298		$21	532		$29

⁽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 nine months ended September 30, 2015 and 2014 within 12 months of their modification date.



	Nine Months Ended September 30,
	2015			2014
(dollars in millions)	Number of Contracts	Balance Defaulted		Number of Contracts	Balance Defaulted
Commercial	21		$2	22		$7
Commercial real estate	—	—		2	1
Total commercial	21	2		24	8
Residential mortgages	120	18		226	27
Home equity loans	130	12		259	19
Home equity lines of credit	98	6		191	9
Home equity loans serviced by others ⁽¹⁾	34	2		51	1
Home equity lines of credit serviced by others ⁽¹⁾	17	1		18	—
Automobile	66	1		88	1
Student	142	3		284	5
Credit cards	304	2		444	3
Other retail	4	—		11	—
Total retail	915	45		1,572	65
Total	936		$47	1,596		$73

⁽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:



	September 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		$651		$1,100		$874		$—		$2,625
Interest only/negative amortization	1,024		—		—		—		1,024
Low introductory rate	—		2		—		95		97
Multiple characteristics and other	15		—		—		—		15
Total		$1,690		$1,102		$874		$95		$3,761



	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