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Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2014
Receivables [Abstract]  
Summary of Changes in the Allowance for Credit Losses and the Related Loan Balance by Product
The following table summarizes the changes in the allowance for credit losses by product and the related loan balance by product during the three and nine months ended September 30, 2014 and 2013:
 
Commercial
 
Consumer
 
 
  
Construction
and Other
Real Estate
 
Business
and Corporate Banking
 
Global
Banking
 
Other
Comm’l
 
Residential
Mortgages
 
Home
Equity
Mortgages
 
Credit
Card
 
Other
Consumer
 
Total
 
(in millions)
Three Months Ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
94

 
$
180

 
$
96

 
$
13

 
$
149

 
$
42

 
$
39

 
$
11

 
$
624

Provision charged (credited) to income
(9
)
 
36

 
—

 
1

 
(11
)
 
(5
)
 
9

 
2

 
23

Charge offs
—

 
(5
)
 
—

 
—

 
(9
)
 
(3
)
 
(10
)
 
(2
)
 
(29
)
Recoveries
1

 
2

 
—

 
3

 
3

 
2

 
2

 
—

 
13

Net (charge offs) recoveries
1

 
(3
)
 
—

 
3

 
(6
)
 
(1
)
 
(8
)
 
(2
)
 
(16
)
Allowance for credit losses – end of period
$
86

 
$
213

 
$
96

 
$
17

 
$
132

 
$
36

 
$
40

 
$
11

 
$
631

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
110

 
$
103

 
$
69

 
$
17

 
$
196

 
$
52

 
$
45

 
$
13

 
$
605

Provision charged (credited) to income
(10
)
 
28

 
(2
)
 
—

 
(1
)
 
28

 
10

 
1

 
54

Charge offs
(3
)
 
(3
)
 
—

 
—

 
(40
)
 
(15
)
 
(11
)
 
(1
)
 
(73
)
Recoveries
1

 
3

 
—

 
—

 
3

 
1

 
1

 
—

 
9

Net (charge offs) recoveries
(2
)
 
—

 
—

 
—

 
(37
)
 
(14
)
 
(10
)
 
(1
)
 
(64
)
Allowance for credit losses – end of period
$
98

 
$
131

 
$
67

 
$
17

 
$
158

 
$
66

 
$
45

 
$
13

 
$
595

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
108

 
$
112

 
$
68

 
$
20

 
$
186

 
$
49

 
$
50

 
$
13

 
$
606

Provision charged (credited) to income
(1
)
 
111

 
36

 
(12
)
 
(20
)
 
(11
)
 
18

 
3

 
124

Charge offs
(24
)
 
(16
)
 
(8
)
 
—

 
(45
)
 
(11
)
 
(33
)
 
(7
)
 
(144
)
Recoveries
3

 
6

 
—

 
9

 
11

 
9

 
5

 
2

 
45

Net (charge offs) recoveries
(21
)
 
(10
)
 
(8
)
 
9

 
(34
)
 
(2
)
 
(28
)
 
(5
)
 
(99
)
Allowance for credit losses – end of period
$
86

 
$
213

 
$
96

 
$
17

 
$
132

 
$
36

 
$
40

 
$
11

 
$
631

Ending balance: collectively evaluated for impairment
$
84

 
$
206

 
$
96

 
$
16

 
$
81

 
$
34

 
$
38

 
$
11

 
$
566

Ending balance: individually evaluated for impairment
2

 
7

 
—

 
1

 
51

 
2

 
2

 
—

 
65

Total allowance for credit losses
$
86

 
$
213

 
$
96

 
$
17

 
$
132

 
$
36

 
$
40

 
$
11

 
$
631

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
9,459

 
$
17,318

 
$
24,001

 
$
3,035

 
$
14,662

 
$
1,753

 
$
679

 
$
465

 
$
71,372

Individually evaluated for impairment(1)
202

 
37

 
—

 
10

 
224

 
5

 
7

 
—

 
485

Loans carried at lower of amortized cost or fair value less cost to sell
—

 
—

 
—

 
—

 
1,516

 
66

 
—

 
—

 
1,582

Total loans
$
9,661

 
$
17,355

 
$
24,001

 
$
3,045

 
$
16,402

 
$
1,824

 
$
686

 
$
465

 
$
73,439

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Consumer
 
 
  
Construction
and Other
Real Estate
 
Business
and Corporate Banking
 
Global
Banking
 
Other
Comm’l
 
Residential
Mortgages
 
Home
Equity
Mortgages
 
Credit
Card
 
Other
Consumer
 
Total
 
(in millions)
Nine Months Ended September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
162

 
$
97

 
$
41

 
$
17

 
$
210

 
$
45

 
$
55

 
$
20

 
$
647

Provision charged (credited) to income
(15
)
 
45

 
26

 
(4
)
 
10

 
58

 
21

 
1

 
142

Charge offs
(62
)
 
(18
)
 
—

 
—

 
(69
)
 
(38
)
 
(34
)
 
(10
)
 
(231
)
Recoveries
13

 
7

 
—

 
4

 
7

 
1

 
3

 
2

 
37

Net (charge offs) recoveries
(49
)
 
(11
)
 
—

 
4

 
(62
)
 
(37
)
 
(31
)
 
(8
)
 
(194
)
Allowance for credit losses – end of period
$
98

 
$
131

 
$
67

 
$
17

 
$
158

 
$
66

 
$
45

 
$
13

 
$
595

Ending balance: collectively evaluated for impairment
$
81

 
$
99

 
$
58

 
$
17

 
$
92

 
$
64

 
$
42

 
$
13

 
$
466

Ending balance: individually evaluated for impairment
17

 
32

 
9

 
—

 
66

 
2

 
3

 
—

 
129

Total allowance for credit losses
$
98

 
$
131

 
$
67

 
$
17

 
$
158

 
$
66

 
$
45

 
$
13

 
$
595

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
8,499

 
$
13,612

 
$
23,305

 
$
2,491

 
$
13,963

 
$
2,004

 
$
846

 
$
538

 
$
65,258

Individually evaluated for impairment(1)
420

 
56

 
65

 
61

 
215

 
19

 
10

 
—

 
846

Loans carried at lower of amortized cost or fair value less cost to sell
—

 
—

 
—

 
—

 
1,542

 
64

 
—

 
—

 
1,606

Total loans
$
8,919

 
$
13,668

 
$
23,370

 
$
2,552

 
$
15,720

 
$
2,087

 
$
856

 
$
538

 
$
67,710

 
(1) 
For consumer loans and certain small business loans, these amounts represent TDR Loans for which we evaluate reserves using a discounted cash flow methodology. Each loan is individually identified as a TDR Loan and then grouped together with other TDR Loans with similar characteristics. The discounted cash flow analysis is then applied to these groups of TDR Loans. Loans individually evaluated for impairment exclude TDR loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell which totaled $741 million and $687 million at September 30, 2014 and 2013, respectively.