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

6 Months Ended

Jun. 30, 2016

Schedule of changes in the allowance for credit losses

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



	Three Months Ended June 30, 2016									Six Months Ended June 30, 2016
(in millions)	Commercial			Retail			Total			Commercial			Retail			Total
Allowance for loan and lease losses, beginning of period		$633			$591			$1,224			$596			$620			$1,216
Charge-offs	(7		)	(106		)	(113		)	(20		)	(219		)	(239		)
Recoveries	5			43			48			9			82			91
Net charge-offs	(2		)	(63		)	(65		)	(11		)	(137		)	(148		)
Provision charged to income	45			42			87			91			87			178
Allowance for loan and lease losses, end of period	676			570			1,246			676			570			1,246
Reserve for unfunded lending commitments, beginning of period	58			—			58			58			—			58
Credit for unfunded lending commitments	3			—			3			3			—			3
Reserve for unfunded lending commitments as of period end	61			—			61			61			—			61
Total allowance for credit losses as of period end		$737			$570			$1,307			$737			$570			$1,307



	Three Months Ended June 30, 2015									Six Months Ended June 30, 2015
(in millions)	Commercial			Retail			Total			Commercial			Retail			Total
Allowance for loan and lease losses, beginning of period		$578			$624			$1,202			$544			$651			$1,195
Charge-offs	(15		)	(106		)	(121		)	(21		)	(215		)	(236		)
Recoveries	8			35			43			36			68			104
Net recoveries (charge-offs)	(7		)	(71		)	(78		)	15			(147		)	(132		)
Sales/Other	—			—			—			—			(2		)	(2		)
Provision charged to income	(6		)	83			77			6			134			140
Allowance for loan and lease losses, end of period	565			636			1,201			565			636			1,201
Reserve for unfunded lending commitments, beginning of period	56			—			56			61			—			61
Provision for unfunded lending commitments	—			—			—			(5		)	—			(5		)
Reserve for unfunded lending commitments as of period end	56			—			56			56			—			56
Total allowance for credit losses as of period end		$621			$636			$1,257			$621			$636			$1,257

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, 2016						December 31, 2015
(in millions)	Commercial		Retail		Total		Commercial		Retail		Total
Individually evaluated		$408		$802		$1,210		$218		$1,165		$1,383
Formula-based evaluation	49,149		53,192		102,341		45,996		51,663		97,659
Total		$49,557		$53,994		$103,551		$46,214		$52,828		$99,042

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, 2016						December 31, 2015
(in millions)	Commercial		Retail		Total		Commercial		Retail		Total
Individually evaluated		$52		$79		$131		$36		$101		$137
Formula-based evaluation	685		491		1,176		618		519		1,137
Allowance for credit losses		$737		$570		$1,307		$654		$620		$1,274

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, 2016
			Criticized
(in millions)	Pass		Special Mention		Substandard		Doubtful		Total
Commercial		$33,931		$855		$1,015		$126		$35,927
Commercial real estate	9,281		318		156		70		9,825
Leases	3,603		80		122		—		3,805
Total		$46,815		$1,253		$1,293		$196		$49,557



	December 31, 2015
			Criticized
(in millions)	Pass		Special Mention		Substandard		Doubtful		Total
Commercial		$31,276		$911		$1,002		$75		$33,264
Commercial real estate	8,450		272		171		78		8,971
Leases	3,880		55		44		—		3,979
Total		$43,606		$1,238		$1,217		$153		$46,214

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, 2016
(in millions)	Current		1-29 Days Past Due		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total
Residential mortgages		$13,571		$89		$40		$10		$145		$13,855
Home equity loans	1,937		133		20		8		79		2,177
Home equity lines of credit	13,755		388		44		24		207		14,418
Home equity loans serviced by others ⁽¹⁾	781		48		10		4		17		860
Home equity lines of credit serviced by others ⁽¹⁾	184		37		12		5		35		273
Automobile	12,959		926		122		31		37		14,075
Student	5,340		105		18		11		42		5,516
Credit cards	1,539		42		10		8		14		1,613
Other retail	1,149		44		6		4		4		1,207
Total		$51,215		$1,812		$282		$105		$580		$53,994

⁽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, 2015
(in millions)	Current		1-29 Days Past Due		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total
Residential mortgages		$12,905		$97		$54		$16		$246		$13,318
Home equity loans	2,245		164		32		12		104		2,557
Home equity lines of credit	13,982		407		60		20		205		14,674
Home equity loans serviced by others ⁽¹⁾	886		60		14		6		20		986
Home equity lines of credit serviced by others ⁽¹⁾	296		48		10		6		29		389
Automobile	12,670		964		127		32		35		13,828
Student	4,175		113		19		11		41		4,359
Credit cards	1,554		44		11		9		16		1,634
Other retail	1,013		53		8		4		5		1,083
Total		$49,726		$1,950		$335		$116		$701		$52,828

⁽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

The following table presents nonperforming loans and leases and loans accruing 90 days or more past due:



	Nonperforming ⁽¹⁾				Accruing and 90 days or more past due
(in millions)	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Commercial		$277		$71		$—		$1
Commercial real estate	70		77		4		—
Leases	—		—		—		—
Total commercial	347		148		4		1
Residential mortgages^{(2) (3) (4)}	174		331		15		—
Home equity loans ⁽²⁾	104		135		—		—
Home equity lines of credit	251		272		—		—
Home equity loans serviced by others ⁽⁵⁾	33		38		—		—
Home equity lines of credit serviced by others ⁽⁵⁾	38		32		—		—
Automobile	43		42		—		—
Student	37		41		6		6
Credit card	14		16		—		—
Other retail	3		5		1		2
Total retail	697		912		22		8
Total		$1,044		$1,060		$26		$9

⁽¹⁾ Effective March 31, 2016, the Company began excluding loans 90 days or more past due and still accruing from nonperforming loans and leases. Nonperforming loans and leases as of December 31, 2015 included loans and leases on nonaccrual of $1.051 billion and loans and leases accruing and 90 days or more past due of $9 million.

⁽²⁾ Nonperforming balances at June 30, 2016 excluded $71 million of troubled debt restructured loans held for sale, including $54 million of residential mortgages and $17 million of home equity loans.

⁽³⁾ Effective March 31, 2016, the Company began excluding first lien residential mortgage loans that are 100% guaranteed by the Federal Housing Administration from nonperforming balances. As of June 30, 2016, $15 million of these loans were accruing and 90 days or more past due.

⁽⁴⁾Effective March 31, 2016, the Company began excluding guaranteed residential mortgage loans sold to GNMA for which the Company had the right, but not the obligation, to repurchase from nonperforming balances. As of June 30, 2016 these loans totaled $34 million. These loans are consolidated on the Company’s Consolidated Balance Sheets.

⁽⁵⁾ 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, 2016		December 31, 2015
Other nonperforming assets, net of valuation allowance:
Commercial		$1		$1
Retail	47		45
Other nonperforming assets, net of valuation allowance		$48		$46

Summary of key performance indicators

A summary of key performance indicators is as follows:



	June 30, 2016		December 31, 2015
Nonperforming commercial loans and leases as a percentage of total loans and leases ⁽¹⁾	0.34	%	0.15	%
Nonperforming retail loans as a percentage of total loans and leases ⁽¹⁾	0.67		0.92
Total nonperforming loans and leases as a percentage of total loans and leases ⁽¹⁾	1.01	%	1.07	%

Nonperforming commercial assets as a percentage of total assets ⁽¹⁾	0.24	%	0.11	%
Nonperforming retail assets as a percentage of total assets ⁽¹⁾	0.51		0.69
Total nonperforming assets as a percentage of total assets ⁽¹⁾	0.75	%	0.80	%

⁽¹⁾December 31, 2015 ratios included loans accruing and 90 days or more past due of $1 million and $8 million for commercial and retail, respectively.

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, 2016								December 31, 2015
(in millions)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due
Commercial		$8		$23		$277		$308		$9		$4		$71		$84
Commercial real estate	2		5		74		81		30		3		77		110
Leases	1		—		—		1		9		1		—		10
Total commercial	11		28		351		390		48		8		148		204
Residential mortgages	40		10		145		195		54		16		246		316
Home equity loans	20		8		79		107		32		12		104		148
Home equity lines of credit	44		24		207		275		60		20		205		285
Home equity loans serviced by others ⁽¹⁾	10		4		17		31		14		6		20		40
Home equity lines of credit serviced by others ⁽¹⁾	12		5		35		52		10		6		29		45
Automobile	122		31		37		190		127		32		35		194
Student	18		11		42		71		19		11		41		71
Credit cards	10		8		14		32		11		9		16		36
Other retail	6		4		4		14		8		4		5		17
Total retail	282		105		580		967		335		116		701		1,152
Total		$293		$133		$931		$1,357		$383		$124		$849		$1,356

⁽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, 2016
(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		$216		$46		$139		$391		$355
Commercial real estate	42		6		11		56		53
Total commercial	258		52		150		447		408
Residential mortgages	34		4		130		214		164
Home equity loans	51		5		107		198		158
Home equity lines of credit	26		3		160		223		186
Home equity loans serviced by others ⁽¹⁾	45		7		21		79		66
Home equity lines of credit serviced by others ⁽¹⁾	3		—		7		14		10
Automobile	4		—		14		23		18
Student	161		46		1		162		162
Credit cards	26		11		—		27		26
Other retail	10		3		2		14		12
Total retail	360		79		442		954		802
Total		$618		$131		$592		$1,401		$1,210

⁽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, 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		$92		$23		$58		$144		$150
Commercial real estate	56		13		12		70		68
Total commercial	148		36		70		214		218
Residential mortgages	121		16		320		608		441
Home equity loans	85		11		139		283		224
Home equity lines of credit	27		2		167		234		194
Home equity loans serviced by others ⁽¹⁾	50		8		24		88		74
Home equity lines of credit serviced by others ⁽¹⁾	3		1		7		14		10
Automobile	3		—		11		19		14
Student	163		48		2		165		165
Credit cards	28		11		—		28		28
Other retail	13		4		2		18		15
Total retail	493		101		672		1,457		1,165
Total		$641		$137		$742		$1,671		$1,383

⁽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,
	2016				2015
(in millions)	Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Commercial		$2		$324		$1		$129
Commercial real estate	—		58		—		51
Total commercial	2		382		1		180
Residential mortgages	1		160		4		436
Home equity loans	1		158		3		272
Home equity lines of credit	2		184		1		151
Home equity loans serviced by others ⁽¹⁾	1		66		1		84
Home equity lines of credit serviced by others ⁽¹⁾	—		10		—		10
Automobile	—		15		—		12
Student	2		161		2		164
Credit cards	1		26		—		30
Other retail	—		13		—		18
Total retail	8		793		11		1,177
Total		$10		$1,175		$12		$1,357

⁽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,
	2016				2015
(in millions)	Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment
Commercial		$3		$248		$1		$133
Commercial real estate	—		61		1		54
Total commercial	3		309		2		187
Residential mortgages	2		156		8		433
Home equity loans	3		154		5		266
Home equity lines of credit	3		182		2		150
Home equity loans serviced by others ⁽¹⁾	2		67		2		84
Home equity lines of credit serviced by others ⁽¹⁾	—		9		—		10
Automobile	—		14		—		11
Student	4		160		4		162
Credit cards	1		26		1		29
Other retail	—		13		—		18
Total retail	15		781		22		1,163
Total		$18		$1,090		$24		$1,350

⁽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, 2016, the charge-offs related to the modifications, and the impact on the ALLL. The reported balances include loans that became TDRs during 2016 and were paid off in full, charged off, or sold prior to June 30, 2016.



	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	3		$—		$—	28		$4		$4
Commercial real estate	—	—		—		—	—		—
Total commercial	3	—		—		28	4		4
Residential mortgages	3	1		1		10	2		2
Home equity loans	15	1		1		21	2		2
Home equity lines of credit	6	—		—		8	1		1
Home equity loans serviced by others ⁽³⁾	3	—		—		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	2	—		—		3	1		1
Automobile	30	—		—		3	—		—
Student	—	—		—		—	—		—
Credit cards	552	3		3		—	—		—
Other retail	1	—		—		—	—		—
Total retail	612	5		5		45	6		6
Total	615		$5		$5	73		$10		$10



	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		$20		$21		$—			$—
Commercial real estate	—	—		—		—			—
Total commercial	4	20		21		—			—
Residential mortgages	67	7		7		—			—
Home equity loans	94	5		5		(1		)	—
Home equity lines of credit	92	6		6		—			—
Home equity loans serviced by others ⁽³⁾	16	—		—		—			—
Home equity lines of credit serviced by others ⁽³⁾	5	1		—		—			—
Automobile	348	7		6		—			1
Student	111	2		2		1			—
Credit cards	—	—		—		1			—
Other retail	5	—		—		—			—
Total retail	738	28		26		1			1
Total	742		$48		$47		$1			$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, 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	—		—		—	—		—
Automobile	18	1		1		1	—		—
Credit cards	630	3		3		—	—		—
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 cards	—	—		—		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.

The following table summarizes how loans were modified during the six months ended June 30, 2016, the charge-offs related to the modifications, and the impact on the ALLL. The reported balances include loans that became TDRs during 2016 and were paid off in full, charged off, or sold prior to June 30, 2016.



	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		$1		$1	54		$8		$8
Commercial real estate	—	—		—		—	—		—
Total commercial	8	1		1		54	8		8
Residential mortgages	25	4		4		16	3		3
Home equity loans	29	2		2		37	4		4
Home equity lines of credit	13	1		1		27	3		3
Home equity loans serviced by others ⁽³⁾	6	—		—		—	—		—
Home equity lines of credit serviced by others ⁽³⁾	2	—		—		4	1		1
Automobile	51	1		1		8	—		—
Student	—	—		—		—	—		—
Credit cards	1,081	6		6		—	—		—
Other retail	1	—		—		—	—		—
Total retail	1,208	14		14		92	11		11
Total	1,216		$15		$15	146		$19		$19



	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	9		$41		$41		($1	)		$—
Commercial real estate	—	—		—		—			—
Total commercial	9	41		41		(1		)	—
Residential mortgages	131	15		15		—			—
Home equity loans	181	11		11		(1		)	—
Home equity lines of credit	124	8		8		—			—
Home equity loans serviced by others ⁽³⁾	34	1		1		—			—
Home equity lines of credit serviced by others ⁽³⁾	13	1		—		—			—
Automobile	539	10		9		—			1
Student	297	6		6		2			—
Credit cards	—	—		—		1			—
Other retail	8	—		—		—			—
Total retail	1,327	52		50		2			1
Total	1,336		$93		$91		$1			$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.

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 cards	—	—		—		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.

Schedule of defaults

The table below summarizes TDRs that defaulted during the three months ended June 30, 2016 and 2015 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, 2016 and 2015. 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,
	2016			2015
(dollars in millions)	Number of Contracts	Balance Defaulted		Number of Contracts	Balance Defaulted
Commercial	8		$3	8		$1
Commercial real estate	1	—		—	—
Total commercial	9	3		8	1
Residential mortgages	35	4		34	5
Home equity loans	32	2		32	2
Home equity lines of credit	20	1		32	1
Home equity loans serviced by others ⁽¹⁾	11	—		7	—
Home equity lines of credit serviced by others ⁽¹⁾	6	—		6	—
Automobile	22	1		19	—
Student	18	1		44	1
Credit cards	85	—		100	1
Other retail	—	—		1	—
Total retail	229	9		275	10
Total	238		$12	283		$11

⁽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, 2016 and 2015 within 12 months of their modification date.



	Six Months Ended June 30,
	2016			2015
(dollars in millions)	Number of Contracts	Balance Defaulted		Number of Contracts	Balance Defaulted
Commercial	11		$3	14		$1
Commercial real estate	1	—		—	—
Total commercial	12	3		14	1
Residential mortgages	89	12		83	11
Home equity loans	50	3		83	6
Home equity lines of credit	45	4		72	3
Home equity loans serviced by others ⁽¹⁾	21	1		23	1
Home equity lines of credit serviced by others ⁽¹⁾	11	—		7	—
Automobile	37	1		42	1
Student	31	1		109	2
Credit cards	206	1		202	1
Other retail	—	—		3	—
Total retail	490	23		624	25
Total	502		$26	638		$26

⁽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, 2016
(in millions)	Residential Mortgages		Home Equity Loans and Lines of Credit		Home Equity Products Serviced by Others		Credit Cards		Student		Total
High loan-to-value		$595		$782		$621		$—		$—		$1,998
Interest only/negative amortization	1,369		—		—		—		1		1,370
Low introductory rate	—		—		—		94		—		94
Multiple characteristics and other	4		—		—		—		—		4
Total		$1,968		$782		$621		$94		$1		$3,466



	December 31, 2015
(in millions)	Residential Mortgages		Home Equity Loans and Lines of Credit		Home Equity Products Serviced by Others		Credit Cards		Student		Total
High loan-to-value		$649		$1,038		$785		$—		$—		$2,472
Interest only/negative amortization	1,110		—		—		—		—		1,110
Low introductory rate	—		3		—		96		—		99
Multiple characteristics and other	14		—		—		—		—		14
Total		$1,773		$1,041		$785		$96		$—		$3,695