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Variable Interest Entities and Securitizations (Tables)
6 Months Ended
Jun. 30, 2024
Variable Interest Entities and Securitization [Abstract]  
Carrying Amount of Assets and Liabilities of Variable Interest Entities
The tables below present a summary of VIEs in which we had continuing involvement or held a significant variable interest, aggregated based on VIEs with similar characteristics as of June 30, 2024 and December 31, 2023. We separately present information for consolidated and unconsolidated VIEs.
Table 6.1: Carrying Amount of Consolidated and Unconsolidated VIEs
 June 30, 2024
 ConsolidatedUnconsolidated
(Dollars in millions)Carrying Amount of AssetsCarrying Amount of LiabilitiesCarrying Amount of AssetsCarrying Amount of LiabilitiesMaximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)
$26,334 $14,696 $0 $0 $0 
Auto loan securitizations3,966 3,210 0 0 0 
Total securitization-related VIEs30,300 17,906 0 0 0 
Other VIEs:(3)
Affordable housing entities356 75 5,603 1,995 5,603 
Entities that provide capital to low-income and rural communities2,745 10 0 0 0 
Other(4)
0 0 400 8 400 
Total other VIEs3,101 85 6,003 2,003 6,003 
Total VIEs$33,401 $17,991 $6,003 $2,003 $6,003 
 December 31, 2023
 ConsolidatedUnconsolidated
(Dollars in millions)Carrying Amount of AssetsCarrying Amount of LiabilitiesCarrying Amount of AssetsCarrying Amount of LiabilitiesMaximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)
$25,474 $14,692 $$$
Auto loan securitizations5,019 4,021 
Total securitization-related VIEs30,493 18,713 
Other VIEs:(3)
Affordable housing entities297 23 5,726 2,085 5,726 
Entities that provide capital to low-income and rural communities2,498 10 
Other(4)
449 449 
Total other VIEs2,795 33 6,175 2,085 6,175 
Total VIEs$33,288 $18,746 $6,175 $2,085 $6,175 
__________
(1)Excludes insignificant VIEs from previously exited businesses.
(2)Represents the carrying amount of assets and liabilities of the VIE, which includes the seller’s interest and repurchased notes held by other related parties.
(3)In certain investment structures, we consolidate a VIE which in turn holds as its primary asset an investment in an unconsolidated VIE. In these instances, we disclose the carrying amount of assets and liabilities on our consolidated balance sheets as unconsolidated VIEs to avoid duplicating our exposure, as the unconsolidated VIEs are generally the operating entities generating the exposure. The carrying amount of assets and liabilities included in the unconsolidated VIE columns above related to these investment structures were $2.7 billion of assets and $1.0 billion of liabilities as of June 30, 2024, and $2.6 billion of assets and $989 million of liabilities as of December 31, 2023.
(4)Primarily consists of variable interests in companies that promote renewable energy sources and other equity method investments.
External Debt and Receivable Balances of Securitization Programs
The table below presents our continuing involvement in certain securitization-related VIEs as of June 30, 2024 and December 31, 2023.
Table 6.2: Continuing Involvement in Securitization-Related VIEs
(Dollars in millions)Credit CardAuto
June 30, 2024:
Securities held by third-party investors$14,087 $3,204 
Receivables in the trusts25,265 3,797 
Cash balance of spread or reserve accounts0 19 
Retained interestsYesYes
Servicing retainedYesYes
December 31, 2023:
Securities held by third-party investors$14,029 $4,014 
Receivables in the trusts26,404 4,839 
Cash balance of spread or reserve accounts19 
Retained interestsYesYes
Servicing retainedYesYes