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CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 291 $ 532
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 84 161
Gain on sale of branch disposal group, net (111) 0
Provision for credit losses 80 (456)
Net realized gains on securities available-for-sale (29) (47)
Net change in other assets and liabilities (795) 1,219
Net change in loans held for sale:    
Originations and purchases of loans held for sale (1,097) (1,407)
Sales and collections of loans held for sale 1,052 1,398
Net change in trading assets and liabilities 6,078 (3,516)
Lower of amortized cost or fair value adjustments on loans held for sale 6 5
Gain on instruments designated at fair value and related derivatives (25) (25)
Net cash provided by (used in) operating activities 5,534 (2,136)
Cash flows from investing activities    
Net change in federal funds sold and securities purchased under agreements to resell 5,573 25,243
Securities available-for-sale:    
Purchases of securities available-for-sale (3,510) (9,173)
Proceeds from sales of securities available-for-sale 1,002 6,170
Proceeds from paydowns and maturities of securities available-for-sale 3,066 7,865
Securities held-to-maturity:    
Purchases of securities held-to-maturity (475) 0
Proceeds from paydowns and maturities of securities held-to-maturity 1,003 2,210
Change in loans:    
Originations, net of collections (5,476) 2,718
Loans sold to third parties 1,136 1,091
Net cash used for acquisitions of properties and equipment (6) 0
Net outflow related to the sale of branch disposal group (4,621) 0
Other, net (16) 80
Net cash provided by (used in) investing activities (2,324) 36,204
Cash flows from financing activities    
Net change in deposits (8,580) 2,221
Debt:    
Net change in short-term borrowings (440) (1,146)
Issuance of long-term debt 2,844 5,317
Repayment of long-term debt (1,884) (6,154)
Other decreases in capital surplus (5) (3)
Dividends paid (38) (38)
Net cash provided by (used in) financing activities (8,103) 197
Net change in cash and due from banks and interest bearing deposits with banks (4,893) 34,265
Cash and due from banks and interest bearing deposits with banks at beginning of period 48,412 15,655
Cash and due from banks and interest bearing deposits with banks at end of period [1] $ 43,519 $ 49,920
[1] Included $58 million of cash which was reported in other branch related assets held for sale on the consolidated balance sheet at December 31, 2021.