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Loans (Tables)
 3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Loan Portfolio Composition and Aging Analysis The table below presents the composition and aging analysis of our loans held for investment portfolio as of March 31, 2023 and December 31, 2022. The delinquency aging includes all past due loans, both performing and nonperforming. Table 3.1: Loan Portfolio Composition and Aging Analysis
 March 31, 2023
Delinquent Loans
(Dollars in millions)Current30-59
Days		60-89
Days
> 90
Days
Total
Delinquent
Loans		Total
Loans
Credit Card:
Domestic credit card$126,189$1,406$1,033$2,352$4,791$130,980
International card businesses5,89889591162646,162
Total credit card132,0871,4951,0922,4685,055137,142
Consumer Banking:
Auto72,4102,7711,1713004,24276,652
Retail banking1,4737316261,499
Total consumer banking73,8832,7781,1743164,26878,151
Commercial Banking:
Commercial and multifamily real estate37,09635013637,132
Commercial and industrial56,22412715918756,411
Total commercial banking93,320362716022393,543
Total loans(1)
$299,290$4,309$2,293$2,944$9,546$308,836
% of Total loans96.91%1.40%0.74%0.95%3.09%100.00%
    
December 31, 2022
Delinquent Loans
(Dollars in millions)Current30-59
Days		60-89
Days
> 90
Days
Total
Delinquent
Loans		Total
Loans
Credit Card:
Domestic credit card$127,066$1,405$975$2,135 $4,515 $131,581 
International card businesses5,8958658110 254 6,149 
Total credit card132,9611,4911,0332,245 4,769 137,730 
Consumer Banking:
Auto73,4673,1011,418387 4,906 78,373 
Retail banking1,51813417 34 1,552 
Total consumer banking74,9853,1141,422404 4,940 79,925 
December 31, 2022
Delinquent Loans
(Dollars in millions)Current30-59
Days		60-89
Days
> 90
Days
Total
Delinquent
Loans		Total
Loans
Commercial Banking:
Commercial and multifamily real estate37,41701353637,453
Commercial and industrial56,942615516528157,223
Total commercial banking94,359615620031794,676
Total loans(1)
$302,305$4,666$2,511$2,849$10,026$312,331
% of Total loans96.79%1.50%0.80%0.91%3.21%100.00%
__________(1)Loans include unamortized premiums, discounts, and deferred fees and costs totaling $1.4 billion as of both March 31, 2023 and December 31, 2022
90 Plus Day Delinquent Loans Accruing Interest and Nonperforming Loans
The following table presents our loans held for investment that are 90 days or more past due that continue to accrue interest, loans that are classified as nonperforming and loans that are classified as nonperforming without an allowance as of March 31, 2023 and December 31, 2022. Nonperforming loans generally include loans that have been placed on nonaccrual status.
Table 3.2: 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans
March 31, 2023December 31, 2022
(Dollars in millions)
> 90 Days and Accruing
Nonperforming
Loans(1)
Nonperforming
 Loans Without an Allowance
> 90 Days and Accruing
Nonperforming
Loans(1)
Nonperforming
 Loans Without an Allowance
Credit Card:
Domestic credit card$2,352 N/A$0 $2,135 N/A$0 
International card businesses113 $7 0 105 $9 0 
Total credit card2,465 7 0 2,240 9 0 
Consumer Banking:
Auto0 515 0 0 595 0 
Retail banking0 44 6 0 39 8 
Total consumer banking0 559 6 0 634 8 
Commercial Banking:
Commercial and multifamily real estate0 336 255 0 271 246 
Commercial and industrial0 404 231 0 430 294 
Total commercial banking0 740 486 0 701 540 
Total$2,465 $1,306 $492 $2,240 $1,344 $548 
% of Total loans held for investment0.80 %0.42 %0.16 %0.72 %0.43 %0.18 %
__________
(1)We recognized interest income for loans classified as nonperforming of $2 million and $1 million for the three months ended March 31, 2023 and 2022, respectively
Credit Quality Indicator
The table below presents our credit card portfolio by delinquency status as of March 31, 2023 and December 31, 2022.
Table 3.3: Credit Card Delinquency Status
March 31, 2023December 31, 2022
(Dollars in millions)Revolving LoansRevolving Loans Converted to TermTotalRevolving LoansRevolving Loans Converted to TermTotal
Credit Card:
Domestic credit card:
Current
$125,911 $278 $126,189 $126,811 $255 $127,066 
30-59 days
1,390 16 1,406 1,388 17 1,405 
60-89 days
1,022 11 1,033 964 11 975 
Greater than 90 days
2,338 14 2,352 2,121 14 2,135 
Total domestic credit card130,661 319 130,980 131,284 297 131,581 
International card businesses:
Current
5,869 29 5,898 5,866 29 5,895 
30-59 days
86 3 89 83 3 86 
60-89 days
57 2 59 55 3 58 
Greater than 90 days
113 3 116 106 4 110 
Total international card businesses6,125 37 6,162 6,110 39 6,149 
Total credit card$136,786 $356 $137,142 $137,394 $336 $137,730 
The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of March 31, 2023 and December 31, 2022. We present our auto loan portfolio by FICO scores at origination and our retail banking loan portfolio by delinquency status, which includes all past due loans, both performing and nonperforming.
Table 3.4: Consumer Banking Portfolio by Vintage Year
March 31, 2023
Term Loans by Vintage Year
(Dollars in millions)20232022202120202019PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Auto—At origination FICO scores:(1)
Greater than 660$3,015 $16,404 $12,968 $4,729 $2,193 $985 $40,294 $0 $0 $40,294 
621-6601,275 5,760 4,598 1,998 1,001 525 15,157 0 0 15,157 
620 or below1,812 7,179 5,904 3,463 1,851 992 21,201 0 0 21,201 
Total auto6,102 29,343 23,470 10,190 5,045 2,502 76,652 0 0 76,652 
Retail banking—Delinquency status:
Current37 150 112 77 128 567 1,071 397 5 1,473 
30-59 days0 0 1 0 0 1 2 5 0 7 
60-89 days0 0 0 1 0 0 1 2 0 3 
Greater than 90 days0 0 1 0 0 10 11 4 1 16 
Total retail banking37 150 114 78 128 578 1,085 408 6 1,499 
Total consumer banking$6,139 $29,493 $23,584 $10,268 $5,173 $3,080 $77,737 $408 $6 $78,151 
December 31, 2022
Term Loans by Vintage Year
(Dollars in millions)20222021202020192018PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Auto—At origination FICO scores:(1)
Greater than 660$17,872 $14,246 $5,354 $2,595 $1,032 $328 $41,427 $0 $0 $41,427 
621-6606,212 5,060 2,257 1,167 513 185 15,394 0 0 15,394 
620 or below7,717 6,501 3,898 2,144 914 378 21,552 0 0 21,552 
Total auto31,801 25,807 11,509 5,906 2,459 891 78,373 0 0 78,373 
Retail banking—Delinquency status:
Current166 128 82 133 127 470 1,106 408 4 1,518 
30-59 days2 1 0 0 0 2 5 8 0 13 
60-89 days0 1 0 0 0 1 2 2 0 4 
Greater than 90 days0 0 0 0 3 8 11 4 2 17 
Total retail banking168 130 82 133 130 481 1,124 422 6 1,552 
Total consumer banking$31,969 $25,937 $11,591 $6,039 $2,589 $1,372 $79,497 $422 $6 $79,925 
__________
(1)Amounts represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average FICO scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.
The following table presents our commercial banking portfolio of loans held for investment by internal risk ratings as of March 31, 2023 and December 31, 2022. The internal risk rating status includes all past due loans, both performing and nonperforming.
Table 3.5: Commercial Banking Portfolio by Internal Risk Ratings
March 31, 2023
Term Loans by Vintage Year
(Dollars in millions)20232022202120202019PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized$2,106 $8,585 $3,630 $825 $1,363 $3,064 $19,573 $13,445 $25 $33,043 
Criticized performing533 906 415 137 367 1,283 3,641 112 0 3,753 
Criticized nonperforming0 81 26 0 77 152 336 0 0 336 
Total commercial and multifamily real estate2,639 9,572 4,071 962 1,807 4,499 23,550 13,557 25 37,132 
Commercial and industrial
Noncriticized4,497 19,171 5,118 2,456 1,301 3,103 35,646 17,150 125 52,921 
Criticized performing365 939 437 91 120 169 2,121 965 0 3,086 
Criticized nonperforming26 195 17 21 69 21 349 55 0 404 
Total commercial and industrial4,888 20,305 5,572 2,568 1,490 3,293 38,116 18,170 125 56,411 
Total commercial banking$7,527 $29,877 $9,643 $3,530 $3,297 $7,792 $61,666 $31,727 $150 $93,543 
December 31, 2022
Term Loans by Vintage Year
(Dollars in millions)20222021202020192018PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized$9,527 $4,086 $1,161 $1,671 $1,280 $2,898 $20,623 $13,254 $25 $33,902 
Criticized performing814 376 202 412 302 1,061 3,167 113 0 3,280 
Criticized nonperforming101 22 0 13 19 116 271 0 0 271 
Total commercial and multifamily real estate10,442 4,484 1,363 2,096 1,601 4,075 24,061 13,367 25 37,453 
Commercial and industrial
Noncriticized22,105 6,031 2,934 1,809 973 2,658 36,510 17,187 21 53,718 
Criticized performing992 560 156 160 167 76 2,111 964 0 3,075 
Criticized nonperforming196 21 5 87 40 5 354 76 0 430 
Total commercial and industrial23,293 6,612 3,095 2,056 1,180 2,739 38,975 18,227 21 57,223 
Total commercial banking$33,735 $11,096 $4,458 $4,152 $2,781 $6,814 $63,036 $31,594 $46 $94,676 
__________
(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.
The table below presents gross charge-offs for loans held for investment by vintage year during the three months ended March 31, 2023.
Table 4.2: Gross Charge-Offs by Vintage Year
March 31, 2023
Term Loans by Vintage Year
(Dollars in millions)20232022202120202019PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Credit Card
Domestic credit cardN/AN/AN/AN/AN/AN/AN/A$1,569 $18 $1,587 
International card businessN/AN/AN/AN/AN/AN/AN/A97 3 100 
Total credit cardN/AN/AN/AN/AN/AN/AN/A1,666 21 1,687 
Consumer Banking
Auto$1 $160 $175 $88 $53 $38 $515 0 0 515 
Retail Banking0 0 0 0 0 0 0 16 0 16 
Total consumer banking1 160 175 88 53 38 515 16 0 531 
Commercial Banking
Commercial and multifamily real estate0 4 0 0 14 0 18 0 0 18 
Commercial and industrial2 2 0 0 0 0 4 2 0 6 
Total commercial banking2 6 0 0 14 0 22 2 0 24 
Total$3 $166 $175 $88 $67 $38 $537 $1,684 $21 $2,242 
TDR Disclosures The following table presents the major modification types, amortized cost amounts per modification and financial effects for all FDMs undertaken during the three months ended March 31, 2023.
Table 3.6: Financial Difficulty Modifications to Borrowers
Three Months Ended March 31, 2023
Credit CardConsumer BankingCommercial Banking
(Dollars in millions)Domestic CardInternational Card BusinessesTotal Credit CardAutoRetail BankingTotal Consumer BankingCommercial and multifamily real estateCommercial and industrialTotal Commercial BankingTotal
Interest rate reduction:
Loans modified$150$38$188——————$188
Average rate reduction19.02%25.74%20.37%N/AN/AN/AN/AN/AN/A
Term extension:
Loans modified———$42$3$45$129$66$195$240
Average term extension (months)N/AN/AN/A4145878
Principal balance reduction:
Loans modified———$7—$7 ———$7
Gross balance reductionN/AN/AN/A—N/A— N/AN/AN/A
Interest rate reduction and term extension:
Loans modified———$202—$202———$202
Average rate reductionN/AN/AN/A8.75%N/A8.75%N/AN/AN/A
Average term extension (months)N/AN/AN/A6N/A6N/AN/AN/A
Principal Balance reduction and term extension:
Loans modified———————$17 $17 $17
Gross Balance ReductionN/AN/AN/AN/AN/AN/AN/A3 3 
Average term extension (months)N/AN/AN/AN/AN/AN/AN/A6060
Other(1):
Loans modified———$1—$1— $132$132$133
Total:
Total loans modified$150$38$188$252$3$255$129$215$344$787
% of total class of receivables0.11%0.62%0.14%0.33%0.18%0.33%0.35%0.38%0.37%0.25%
__________
(1)Commercial Banking consists of modifications other than interest rate reduction, term extension, or principal balance reduction.
The following table presents FDMs over a rolling 12 month period by delinquency status as of the period ended March 31, 2023.
Table 3.7 Delinquency Status of Loan Modifications to Borrowers Experiencing Financial Difficulty(1)
Three Months Ended March 31, 2023
Delinquent Loans
(Dollars in millions)Current30-59 Days60-89 Days
> 90 Days
Total Delinquent LoansTotal Loans
Credit Card:
Domestic credit card$62 $36 $23 $29 $88 $150 
International card businesses11 5 4 18 27 38 
Total credit card73 41 27 47 115 188 
Consumer Banking:
Auto224 18 7 3 28 252 
Retail banking2 0 0 1 1 3 
Total consumer banking226 18 7 4 29 255 
Commercial Banking:
Commercial and multifamily real estate99 30 0 0 30 129 
Commercial and industrial129 0 0 86 86 215 
Total commercial banking228 30 0 86 116 344 
Total$527 $89 $34 $137 $260 $787 
__________
(1)Commitments to lend additional funds on FDMs totaled $26 million as of March 31, 2023.
The following tables present the major modification types, amortized cost amounts and financial effects of loans modified in a TDR during the three months ended March 31, 2022.
Table 3.8: Troubled Debt Restructurings(1)
Three Months Ended March 31, 2022
Reduced Interest RateTerm Extension
(Dollars in millions)
Total Loans Modified(2)
% of TDR Activity(3)
Average Rate Reduction
% of TDR Activity(3)
Average Term Extension (Months)
Credit Card:
Domestic credit card$62100 %14.67 %N/AN/A
International card businesses34100 28.00 N/AN/A
Total credit card96100 19.40 N/AN/A
Consumer Banking:
Auto23955 8.80 97 %4
Retail banking1N/AN/A1006
Total consumer banking24055 8.80 974
Commercial Banking:
Commercial and multifamily real estate1317 0.59 6212
Commercial and industrial38N/AN/A8610
Total commercial banking1696 0.59 6811
Total$505
__________
(1)Commitments to lend additional funds on loans modified in TDRs totaled $156 million as of March 31, 2022.
(2)Represents the amortized cost of total loans modified in TDRs at the end of the period in which they were modified. As not every modification type is included in the table above, the total percentage of TDR activity may not add up to 100%. Some loans may receive more than one type of modification.
(3)Due to multiple modification types granted to some troubled borrowers, percentages may total more than 100% for certain loan types.
The following table presents the type, number and amortized cost of loans modified in a TDR that experienced a default during the period and had completed a modification event in the twelve months prior to the default. A default occurs if the loan is either 90 days or more delinquent, has been charged off as of the end of the period presented or has been reclassified from accrual to nonaccrual status.
Table 3.9: TDR—Subsequent Defaults
 Three Months Ended March 31, 2022
(Dollars in millions)Number of ContractsAmount
Credit Card:
Domestic credit card6,012 $11 
International card businesses16,507 19 
Total credit card22,519 30 
Consumer Banking:
Auto1,971 33 
Retail banking0 0 
Total consumer banking1,971 33 
Commercial Banking:
Commercial and industrial1 31 
Total commercial banking1 31 
Total24,491 $94