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CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 452 $ 669
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 104 206
Gain on sale of branch disposal group, net (113) 0
Provision for credit losses 105 (537)
Net realized gains on securities available-for-sale (30) (51)
Net change in other assets and liabilities (382) 1,475
Net change in loans held for sale:    
Originations and purchases of loans held for sale (1,628) (2,049)
Sales and collections of loans held for sale 1,615 2,204
Net change in trading assets and liabilities 4,778 2,572
Lower of amortized cost or fair value adjustments on loans held for sale 21 5
Loss (gain) on instruments designated at fair value and related derivatives 4 (33)
Net cash provided by operating activities 4,926 4,461
Cash flows from investing activities    
Net change in federal funds sold and securities purchased under agreements to resell (19,311) 28,266
Securities available-for-sale:    
Purchases of securities available-for-sale (4,185) (14,444)
Proceeds from sales of securities available-for-sale 1,343 7,422
Proceeds from paydowns and maturities of securities available-for-sale 4,696 9,864
Securities held-to-maturity:    
Purchases of securities held-to-maturity (2,714) 0
Proceeds from paydowns and maturities of securities held-to-maturity 1,249 3,094
Change in loans:    
Originations, net of collections (5,675) 414
Loans sold to third parties 1,222 1,282
Net cash used for acquisitions of properties and equipment (23) (2)
Net outflow related to the sale of branch disposal group (4,619) 0
Other, net (19) 108
Net cash provided by (used in) investing activities (28,036) 36,004
Cash flows from financing activities    
Net change in deposits (10,767) 7,250
Debt:    
Net change in short-term borrowings 198 1,425
Issuance of long-term debt 3,791 6,861
Repayment of long-term debt (2,569) (8,402)
Return of capital to parent (1,000) 0
Other decreases in capital surplus (3) (3)
Dividends paid (38) (38)
Net cash provided by (used in) financing activities (10,388) 7,093
Net change in cash and due from banks and interest bearing deposits with banks (33,498) 47,558
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] $ 14,914 $ 63,213
[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.