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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net income (loss) $ 333,000,000 $ 832,000,000
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for credit losses 841,000,000 136,000,000
Depreciation and amortization expense, net 86,000,000 121,000,000
Accretion of acquired loans 18,000,000 28,000,000
Increase in cash surrender value of corporate-owned life insurance (58,000,000) (57,000,000)
Stock-based compensation expense 51,000,000 48,000,000
Deferred income taxes (benefit) (148,000,000) 68,000,000
Proceeds from sales of loans held for sale 6,437,000,000 4,445,000,000
Originations of loans held for sale, net of repayments (6,816,000,000) (4,890,000,000)
Net losses (gains) on sales of loans held for sale (109,000,000) (70,000,000)
Net losses (gains) on leased equipment (16,000,000) (11,000,000)
Net securities losses (gains) (4,000,000) 0
Net losses (gains) on sales of fixed assets 3,000,000 11,000,000
Net decrease (increase) in trading account assets 395,000,000 (155,000,000)
Other operating activities, net (908,000,000) 224,000,000
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 105,000,000 730,000,000
INVESTING ACTIVITIES    
Cash received (used) in acquisitions, net of cash acquired 0 (185,000,000)
Net decrease (increase) in short-term investments, excluding acquisitions (12,764,000,000) 119,000,000
Purchases of securities available for sale (4,567,000,000) (2,940,000,000)
Proceeds from sales of securities available for sale 583,000,000 0
Proceeds from prepayments and maturities of securities available for sale 2,933,000,000 1,457,000,000
Proceeds from prepayments and maturities of held-to-maturity securities 998,000,000 652,000,000
Purchases of held-to-maturity securities (5,000,000) (9,000,000)
Purchases of other investments (96,000,000) (30,000,000)
Proceeds from sales of other investments 26,000,000 28,000,000
Proceeds from prepayments and maturities of other investments 11,000,000 36,000,000
Net decrease (increase) in loans, excluding acquisitions, sales and transfers (11,967,000,000) (2,747,000,000)
Proceeds from sales of portfolio loans 91,000,000 146,000,000
Proceeds from corporate-owned life insurance 40,000,000 27,000,000
Purchases of premises, equipment, and software (27,000,000) (38,000,000)
Proceeds from sales of premises and equipment 0 1,000,000
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (24,744,000,000) (3,483,000,000)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits, excluding acquisitions 23,643,000,000 2,637,000,000
Net increase (decrease) in short-term borrowings 891,000,000 18,000,000
Net proceeds from issuance of long-term debt 2,501,000,000 1,351,000,000
Payments on long-term debt (1,507,000,000) (1,002,000,000)
Issuance of preferred shares 0 435,000,000
Open market Common Share repurchases (117,000,000) (346,000,000)
Employee equity compensation program Common Share repurchases (36,000,000) (33,000,000)
Net proceeds from reissuance of Common Shares 6,000,000 5,000,000
Cash dividends paid (415,000,000) (383,000,000)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 24,966,000,000 2,682,000,000
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS 327,000,000 (71,000,000)
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD 732,000,000 678,000,000
CASH AND DUE FROM BANKS AT END OF PERIOD 1,059,000,000 607,000,000
Additional disclosures relative to cash flows:    
Interest paid 465,000,000 619,000,000
Income taxes paid (refunded) 59,000,000 (43,000,000)
Noncash items:    
Reduction of secured borrowing and related collateral 3,000,000 2,000,000
Loans transferred to portfolio from held for sale 25,000,000 5,000,000
Loans transferred to held for sale from portfolio 210,000,000 52,000,000
Loans transferred to OREO 93,000,000 16,000,000
CMBS risk retentions 27,000,000 9,000,000
ABS risk retentions $ 9,000,000 $ 0