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LOANS AND LEASES (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Schedule of loans and leases
The following table presents loans and leases, excluding LHFS:
December 31,
(in millions)20212020
Commercial and industrial(1)
$44,500 $44,173 
Commercial real estate14,264 14,652 
Leases1,586 1,968 
Total commercial60,350 60,793 
Residential mortgages22,822 19,539 
Home equity12,015 12,149 
Automobile14,549 12,153 
Education12,997 12,308 
Other retail 5,430 6,148 
Total retail67,813 62,297 
Total loans and leases$128,163 $123,090 
(1) Includes $787 million and $4.2 billion of PPP loans fully guaranteed by the SBA as of December 31, 2021 and 2020, respectively.
The following table presents the composition of LHFS:
December 31, 2021December 31, 2020
(in millions)
Residential Mortgages(1)
Commercial(2)
Total
Residential Mortgages(1)
Commercial(2)
Total
Loans held for sale at fair value$2,657 $76 $2,733 $3,416 $148 $3,564 
Other loans held for sale— 735 735 — 439 439 
(1) Residential mortgage LHFS are originated for sale.
(2) Commercial LHFS at fair value consist of loans managed by the Company’s commercial secondary loan desk. Other commercial LHFS generally consist of loans associated with the Company’s syndication business.
Schedule of investment in leases, before the ALLL
The components of the net investment in direct financing and sales-type leases, before ALLL, are presented below:
(in millions)December 31, 2021December 31, 2020
Total future minimum lease rentals$1,195 $1,381 
Estimated residual value of leased equipment (non-guaranteed)521 746 
Initial direct costs6 7 
Unearned income(136)(166)
Total leases$1,586 $1,968 
Maturity analysis of direct financing lease receivables
A maturity analysis of direct financing and sales-type lease receivables at December 31, 2021 is presented below:
(in millions)
2022$315 
2023267 
2024203 
2025151 
2026105 
Thereafter154 
Total undiscounted future minimum lease rentals$1,195