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ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2024
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of allowance for credit losses and investment in loans by portfolio segment
In millions of dollars202420232022
Allowance for credit losses on loans (ACLL) at beginning of year$18,145 $16,974 $16,455 
Adjustments to opening balance(1)
Financial instruments—TDRs and vintage disclosures(1)
— (352)— 
Adjusted ACLL at beginning of year$18,145 $16,622 $16,455 
Gross credit losses on loans$(10,694)$(7,881)$(5,156)
Gross recoveries on loans1,694 1,444 1,367 
Net credit losses on loans (NCLs)$(9,000)$(6,437)$(3,789)
Replenishment of NCLs$9,000 $6,437 $3,789 
Net reserve builds (releases) for loans791 1,272 937 
Net specific reserve builds (releases) for loans(65)77 19 
Total provision for credit losses on loans (PCLL)$9,726 $7,786 $4,745 
Initial allowance for credit losses on newly purchased credit-deteriorated assets
during the period(2)
23 — — 
Other, net (see table below)(320)174 (437)
ACLL at end of year$18,574 $18,145 $16,974 
Allowance for credit losses on unfunded lending commitments (ACLUC)
at beginning of year(3)
$1,728 $2,151 $1,871 
Provision (release) for credit losses on unfunded lending commitments(119)(425)291 
Other, net(8)2 (11)
ACLUC at end of year(3)
$1,601 $1,728 $2,151 
Total allowance for credit losses on loans, leases and unfunded lending commitments$20,175 $19,873 $19,125 

Other, net details
In millions of dollars202420232022
Sales or transfers of various consumer loan portfolios to HFS(4)
Reclass of Thailand, India, Malaysia, Taiwan, Indonesia, Bahrain and Vietnam consumer ACLL to HFS$— $— $(350)
Reclasses of consumer ACLL to HFS(4)
$— $— $(350)
FX translation and other(320)174 (87)
Other, net$(320)$174 $(437)

(1)See “Accounting Changes” in Note 1.
(2)Upon acquisition, the par value of the purchased credit-deteriorated assets was approximately $52 million and $26 million during the years ended December 31, 2024 and 2023, respectively.
(3)Represents additional credit loss reserves for unfunded lending commitments and letters of credit recorded in Other liabilities on the Consolidated Balance Sheet.
(4)See Note 2.
Allowance for Credit Losses on Loans and End-of-Period Loans at December 31, 2024

In millions of dollarsCorporateConsumerTotal
ACLL at beginning of year$2,714 $15,431 $18,145 
Charge-offs(493)(10,201)(10,694)
Recoveries96 1,598 1,694 
Replenishment of NCLs397 8,603 9,000 
Net reserve builds (releases)(67)858 791 
Net specific reserve builds (releases)(63)(2)(65)
Initial allowance for credit losses on newly purchased credit-deteriorated assets
during the year(1)
— 23 23 
Other(28)(292)(320)
Ending balance$2,556 $16,018 $18,574 
ACLL   
Collectively evaluated(2)
$2,254 $15,967 $18,221 
Individually evaluated302 38 340 
Purchased credit deteriorated— 13 13 
Total ACLL$2,556 $16,018 $18,574 
Loans, net of unearned income
Collectively evaluated(2)
$292,250 $392,562 $684,812 
Individually evaluated1,377 134 1,511 
Purchased credit deteriorated— 125 125 
Held at fair value7,759 281 8,040 
Total loans, net of unearned income$301,386 $393,102 $694,488 

(1)Upon acquisition, the par value of the purchased credit-deteriorated assets was approximately $52 million and $26 million during the years ended December 31, 2024 and 2023, respectively.
(2)See “Accounting Changes” in Note 1.
Allowance for Credit Losses on Loans and End-of-Period Loans at December 31, 2023

In millions of dollarsCorporateConsumerTotal
ACLL at beginning of year$2,855 $14,119 $16,974 
Adjustments to opening balance:
Financial Instruments—TDRs and vintage disclosures(1)
— (352)(352)
Adjusted ACLL at beginning of year$2,855 $13,767 $16,622 
Charge-offs$(328)$(7,553)$(7,881)
Recoveries78 1,366 1,444 
Replenishment of NCLs250 6,187 6,437 
Net reserve builds (releases)(168)1,440 1,272 
Net specific reserve builds (releases)39 38 77 
Other(12)186 174 
Ending balance$2,714 $15,431 $18,145 
ACLL   
Collectively evaluated(1)
$2,352 $15,391 $17,743 
Individually evaluated362 40 402 
Purchased credit deteriorated— — — 
Total ACLL$2,714 $15,431 $18,145 
Loans, net of unearned income
Collectively evaluated(1)
$291,002 $388,711 $679,713 
Individually evaluated1,882 58 1,940 
Purchased credit deteriorated— 115 115 
Held at fair value7,281 313 7,594 
Total loans, net of unearned income$300,165 $389,197 $689,362 

(1)    See “Accounting Changes” in Note 1.

Allowance for Credit Losses on Loans at December 31, 2022

In millions of dollarsCorporateConsumerTotal
ACLL at beginning of year$2,415 $14,040 $16,455 
Charge-offs(278)(4,878)(5,156)
Recoveries100 1,267 1,367 
Replenishment of NCLs178 3,611 3,789 
Net reserve builds (releases)374 563 937 
Net specific reserve builds (releases)65 (46)19 
Other1 (438)(437)
Ending balance$2,855 $14,119 $16,974 
Schedule of allowance for credit losses on other assets
Allowance for Credit Losses on Other Assets

Year ended December 31, 2024
In millions of dollarsDeposits with banksSecurities borrowed and purchased under agreements
to resell
All other assets(1)
Total
Allowance for credit losses on other assets at beginning of year$31 $27 $1,730 $1,788 
Gross credit losses— — (53)(53)
Gross recoveries— — 27 27 
Net credit losses (NCLs)$— $— $(26)$(26)
Replenishment of NCLs$— $— $26 $26 
Net reserve builds (releases)(7)(23)366 336 
Total provision for credit losses$(7)$(23)$392 $362 
Other, net$1 $(1)$(259)$(259)
Allowance for credit losses on other assets at end of year$25 $3 $1,837 $1,865 

(1)Primarily ACL related to transfer risk associated with exposures outside the U.S., driven by safety and soundness considerations under U.S. banking law.

Year ended December 31, 2023
In millions of dollarsDeposits with banksSecurities borrowed and purchased under agreements
to resell
All other assets(1)
Total
Allowance for credit losses on other assets at beginning of year$51 $36 $36 $123 
Gross credit losses— — (97)(97)
Gross recoveries— — 25 25 
Net credit losses (NCLs)$— $— $(72)$(72)
Replenishment of NCLs$— $— $72 $72 
Net reserve builds (releases)(19)14 1,695 1,690 
Total provision for credit losses$(19)$14 $1,767 $1,762 
Other, net$(1)$(23)$(1)$(25)
Allowance for credit losses on other assets at end of year$31 $27 $1,730 $1,788 

(1)Primarily ACL related to transfer risk associated with exposures outside the U.S., driven by safety and soundness considerations under U.S. banking law.

Year ended December 31, 2022
In millions of dollarsDeposits with banksSecurities borrowed and purchased under agreements
to resell
All other assets(1)
Total
Allowance for credit losses on other assets at beginning of year$21 $6 $26 $53 
Gross credit losses— — (24)(24)
Gross recoveries— — 3 3 
Net credit losses (NCLs)$— $— $(21)$(21)
Replenishment of NCLs$— $— $21 $21 
Net reserve builds (releases)30 14 11 55 
Total provision for credit losses$30 $14 $32 $76 
Other, net(2)
$— $16 $(1)$15 
Allowance for credit losses on other assets at end of year$51 $36 $36 $123 

(1)Primarily accounts receivable.
(2)Includes $30 million of ACL transferred from Services, Markets and Banking loans ACL during the second quarter of 2022 for securities borrowed and purchased under agreements to resell.