Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Commitments and Contingencies

The Company invests in certain affordable housing projects throughout its market area as a means of supporting local communities. Truist receives tax credits related to these investments, for which the Company typically acts as a limited partner and therefore does not exert control over the operating or financial policies of the partnerships. The following table summarizes certain tax credit, private equity, and certain other equity method investments.

(Dollars in millions)	Balance Sheet Location	Jun 30, 2020		Dec 31, 2019
Investments in affordable housing projects:
Carrying amount	Other assets	$	3,827	$	3,684
Amount of future funding commitments included in carrying amount	Other liabilities	1,113		1,271
Lending exposure	NA	724		647
Renewable energy investments:
Carrying amount	Other assets	102		81
Amount of future funding commitments not included in carrying amount	NA	296		246
Private equity and certain other equity method investments:
Carrying amount	Other assets	1,421		1,556
Amount of future funding commitments not included in carrying amount	NA	419		331

Summary of Income Tax Contingencies

The following table presents a summary of tax credits and amortization associated with the Company's tax credit investment activity:

		Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions)	Income Statement Location	2020		2019		2020		2019
Tax credits:
Investments in affordable housing projects	Provision for income taxes	$	114	$	102	$	231	$	180
Other community development investments	Provision for income taxes	22		—		45		—
Renewable energy investments	NA	102		—		102		—
Amortization and other changes in carrying amount:
Investments in affordable housing projects	Provision for income taxes	$	116	$	68	$	227	$	138
Other community development investments	Other noninterest income	19		—		38		—
Renewable energy investments	Other noninterest income	2		—		2		—

Schedule of Off-Balance Sheet

The following is a summary of selected notional amounts of off-balance sheet financial instruments:

(Dollars in millions)	June 30, 2020		December 31, 2019
Commitments to extend, originate or purchase credit	$	175,616	$	177,598
Residential mortgage loans sold with recourse	373		371
CRE mortgages serviced for others covered by recourse provisions	8,641		8,676
Letters of credit	5,050		5,181

Schedule of Pledged Assets

The following table provides the total carrying amount of pledged assets by asset type.

(Dollars in millions)	Jun 30, 2020		Dec 31, 2019
Pledged securities	$	19,950	$	11,283
Pledged loans:
FRB	79,548		30,238
FHLB	76,004		80,816
Unused borrowing capacity:
FRB	53,659		21,169
FHLB	55,695		37,303