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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net income $ 287 $ 892
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,064 182
Net change in loans held for sale (737) (471)
Depreciation, amortization and accretion 310 270
Amortization of intangibles 6 5
Deferred income taxes (208) (10)
Share-based compensation 23 32
Net gain on sales of:    
Debt securities (3) (16)
Premises and equipment 0 (7)
Increase in other assets (2,454) (221)
Increase (decrease) in other liabilities 299 (79)
Net cash (used in) provided by operating activities (1,413) 577
Investment securities:    
Purchases of debt securities available for sale (3,308) (3,502)
Proceeds from maturities and paydowns of debt securities available for sale 2,521 1,625
Proceeds from sales of debt securities available for sale 0 1,250
Proceeds from maturities and paydowns of debt securities held to maturity 349 171
Net (increase) decrease in equity securities, at fair value (3) 134
Net decrease in equity securities, at cost 200 128
Net increase in interest-bearing deposits in banks (178) (38)
Acquisitions, net of cash acquired (3) (129)
Net increase in loans and leases (7,014) (806)
Capital expenditures, net (53) (10)
Other (110) (111)
Net cash used in investing activities (7,599) (1,288)
FINANCING ACTIVITIES    
Net increase in deposits 18,305 4,429
Net (decrease) increase in short-term borrowed funds (18) 123
Proceeds from issuance of long-term borrowed funds 8,309 4,500
Repayments of long-term borrowed funds (13,253) (9,005)
Treasury stock purchased (270) (320)
Net proceeds from issuance of preferred stock 395 293
Dividends declared and paid to common stockholders (336) (297)
Dividends declared and paid to preferred stockholders (45) (30)
Payments of employee tax withholding for share-based compensation (15) (21)
Net cash provided by (used in) financing activities 13,072 (328)
(Decrease) increase in cash and cash equivalents [1] 4,060 (1,039)
Cash and cash equivalents at beginning of period [1] 3,386 4,074
Cash and cash equivalents at end of period [1] $ 7,446 $ 3,035
[1] Cash and cash equivalents includes cash and due from banks and interest-bearing cash and due from banks as reflected on the Consolidated Balance Sheets.