REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

The following table presents the Company’s capital and capital ratios under U.S. Basel III Standardized rules. The Company has declared itself as an “AOCI opt-out” institution, which means the Company is not required to recognize in regulatory capital the impacts of net unrealized gains and losses included within AOCI for debt securities that are available for sale or held to maturity, accumulated net gains and losses on cash flow hedges and certain defined benefit pension plan assets. The Company has also elected to delay the estimated impact of CECL on regulatory capital for a two-year period ending January 1, 2022, followed by a three-year transition period ending January 1, 2025 to phase-in the aggregate amount of the capital benefit provided during the initial two-year delay.


	Actual			Minimum Capital Adequacy
(in millions, except ratio data)	Amount	Ratio		Amount	Ratio(1)
As of December 31, 2021
CET1 capital	$15,656	9.9	%	$12,548	7.9	%
Tier 1 capital	17,670	11.1		14,930	9.4
Total capital	20,244	12.7		18,107	11.4
Tier 1 leverage	17,670	9.7		7,272	4.0
As of December 31, 2020
CET1 capital	$14,607	10.0	%	$11,596	7.9	%
Tier 1 capital	16,572	11.3		13,797	9.4
Total capital	19,602	13.4		16,733	11.4
Tier 1 leverage	16,572	9.4		7,015	4.0

(1) “Minimum Capital ratio” includes stress capital buffer of 3.4% for 2021 and 2020; N/A to Tier 1 leverage.