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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net income $ 726 $ 989
Adjustments to reconcile net income to net change due to operating activities:    
Provision (benefit) for credit losses 353 344
Net change in loans held for sale, at fair value 85 (451)
Depreciation, amortization and accretion 245 230
Deferred income tax expense (benefit) (32) (40)
Share-based compensation 55 55
Net gain on sale of assets (5) (14)
Net (increase) decrease in other assets 277 (827)
Net increase (decrease) in other liabilities (316) 990
Net change due to operating activities 1,388 1,276
Investment securities:    
Purchases of debt securities available for sale (4,487) (3,206)
Proceeds from maturities and paydowns of debt securities available for sale 1,318 929
Proceeds from sales of debt securities available for sale 703 1,632
Proceeds from maturities and paydowns of debt securities held to maturity 324 369
Net (increase) decrease in interest-bearing deposits in banks (154) 19
Purchases of loans (440) 0
Sales of loans 125 2,335
Net (increase) decrease in loans and leases 3,831 2,659
Capital expenditures, net (40) (91)
Other 38 (5)
Net change due to investing activities 1,218 4,641
FINANCING ACTIVITIES    
Net increase (decrease) in deposits (990) (3,057)
Net increase (decrease) in short-term borrowed funds (503) 1,096
Proceeds from issuance of long-term borrowed funds 10,853 12,217
Repayments of long-term borrowed funds (11,256) (14,004)
Treasury stock purchased (500) (656)
Net proceeds from issuance of preferred stock 391 0
Dividends paid to common stockholders (391) (410)
Dividends paid to preferred stockholders (61) (57)
Other (6) (26)
Net change due to financing activities (2,463) (4,897)
Net change in cash and cash equivalents [1] 143 1,020
Cash and cash equivalents at beginning of period [1] 11,628 10,547
Cash and cash equivalents at end of period [1] 11,771 11,567
Non-cash items:    
Transfer of loans from loans held for investment to loans held for sale 215 2,401
Loans securitized and transferred to AFS securities $ 133 $ 0
[1] Cash and cash equivalents include cash and due from banks and interest-bearing cash and due from banks as reflected on the Consolidated Balance Sheets.