Outstanding Loans and Leases and Allowance for Credit Losses (Tables)

v3.25.0.1

Outstanding Loans and Leases and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Schedule of Loans and Leases Outstanding	The following tables present total outstanding loans and leases and an aging analysis for the Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at December 31, 2024 and 2023. 30-59 Days  Past Due (1) 60-89 Days  Past Due (1) 90 Days or More Past Due (1) Total Past Due 30 Days or More Total  Current or  Less Than  30 Days  Past Due (1) Loans  Accounted  for Under  the Fair  Value  Option Total Outstandings (Dollars in millions) December 31, 2024 Consumer real estate             Residential mortgage $ 1,222  $ 288  $ 788  $ 2,298  $ 225,901  $ 228,199  Home equity 80  40  127  247  25,490  25,737  Credit card and other consumer Credit card 685  552  1,401  2,638  100,928  103,566  Direct/Indirect consumer (2) 290  113  106  509  106,613  107,122  Other consumer —  —  —  —  151  151  Total consumer 2,277  993  2,422  5,692  459,083  464,775  Consumer loans accounted for under the fair value option (3) $ 221  221  Total consumer loans and leases 2,277  993  2,422  5,692  459,083  221  464,996  Commercial U.S. commercial 910  228  345  1,483  385,507  386,990  Non-U.S. commercial 65  17  4  86  137,432  137,518  Commercial real estate (4) 640  121  990  1,751  63,979  65,730  Commercial lease financing 32  9  19  60  15,648  15,708  U.S. small business commercial 190  94  199  483  20,382  20,865  Total commercial 1,837  469  1,557  3,863  622,948  626,811  Commercial loans accounted for under the fair value option (3) 4,028  4,028  Total commercial loans and leases 1,837  469  1,557  3,863  622,948  4,028  630,839  Total loans and leases (5) $ 4,114  $ 1,462  $ 3,979  $ 9,555  $ 1,082,031  $ 4,249  $ 1,095,835  Percentage of outstandings 0.38  % 0.13  % 0.36  % 0.87  % 98.74  % 0.39  % 100.00  % (1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $188 million and nonperforming loans of $174 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $71 million and nonperforming loans of $107 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $229 million and nonperforming loans of $686 million. Consumer real estate loans current or less than 30 days past due includes $1.5 billion, and direct/indirect consumer includes $54 million of nonperforming loans. (2)Total outstandings primarily includes auto and specialty lending loans and leases of $54.9 billion, U.S. securities-based lending loans of $48.7 billion and non-U.S. consumer loans of $2.8 billion. (3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $59 million and home equity loans of $162 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.8 billion and non-U.S. commercial loans of $1.3 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option. (4)Total outstandings includes U.S. commercial real estate loans of $59.6 billion and non-U.S. commercial real estate loans of $6.1 billion. (5)Total outstandings includes loans and leases pledged as collateral of $26.8 billion. The Corporation also pledged $305.2 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank. 30-59 Days Past Due (1) 60-89 Days  Past Due (1) 90 Days or More Past Due (1) Total Past Due 30 Days or More Total Current or Less Than 30 Days Past Due (1) Loans Accounted for Under the Fair Value Option Total Outstandings (Dollars in millions) December 31, 2023 Consumer real estate             Residential mortgage $ 1,177  $ 302  $ 829  $ 2,308  $ 226,095  $ 228,403  Home equity 90  38  161  289  25,238  25,527  Credit card and other consumer           Credit card 680  515  1,224  2,419  99,781    102,200  Direct/Indirect consumer (2) 306  99  91  496  102,972    103,468  Other consumer  —  —  —  —  124    124  Total consumer 2,253  954  2,305  5,512  454,210  459,722  Consumer loans accounted for under the fair value option (3) $ 243  243  Total consumer loans and leases 2,253  954  2,305  5,512  454,210  243  459,965  Commercial               U.S. commercial 477  96  225  798  358,133    358,931  Non-U.S. commercial 86  21  64  171  124,410    124,581  Commercial real estate (4) 247  133  505  885  71,993    72,878  Commercial lease financing 44  8  24  76  14,778    14,854  U.S. small business commercial 166  89  184  439  18,758    19,197  Total commercial 1,020  347  1,002  2,369  588,072    590,441  Commercial loans accounted for under the fair value option (3) 3,326  3,326  Total commercial loans and leases 1,020  347  1,002  2,369  588,072  3,326  593,767  Total loans and leases (5) $ 3,273  $ 1,301  $ 3,307  $ 7,881  $ 1,042,282  $ 3,569  $ 1,053,732  Percentage of outstandings 0.31  % 0.12  % 0.31  % 0.75  % 98.91  % 0.34  % 100.00  % (1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $198 million and nonperforming loans of $150 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $77 million and nonperforming loans of $102 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $252 million and nonperforming loans of $738 million. Consumer real estate loans current or less than 30 days past due includes $1.6 billion, and direct/indirect consumer includes $39 million of nonperforming loans. (2)Total outstandings primarily includes auto and specialty lending loans and leases of $53.9 billion, U.S. securities-based lending loans of $46.0 billion and non-U.S. consumer loans of $2.8 billion. (3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $66 million and home equity loans of $177 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.2 billion and non-U.S. commercial loans of $1.2 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option. (4)Total outstandings includes U.S. commercial real estate loans of $66.8 billion and non-U.S. commercial real estate loans of $6.1 billion. (5)Total outstandings includes loans and leases pledged as collateral of $33.7 billion. The Corporation also pledged $246.0 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank.
Schedule of Financing Receivables, Non Accrual Status	The following table presents the Corporation’s nonperforming loans and leases and loans accruing past due 90 days or more at December 31, 2024 and 2023. Nonperforming LHFS are excluded from nonperforming loans and leases as they are recorded at either fair value or the lower of cost or fair value. For more information on the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles. Credit Quality Nonperforming Loans and Leases Accruing Past Due 90 Days or More December 31 (Dollars in millions) 2024 2023 2024 2023 Residential mortgage (1) $ 2,052  $ 2,114  $ 229  $ 252  With no related allowance (2) 1,883  1,974  —  —  Home equity (1) 409  450  —  —  With no related allowance (2) 334  375  —  —  Credit Card             n/a             n/a 1,401  1,224  Direct/indirect consumer 186  148  1  2  Total consumer 2,647  2,712  1,631  1,478  U.S. commercial 1,204  636  90  51  Non-U.S. commercial 8  175  4  4  Commercial real estate 2,068  1,927  6  32  Commercial lease financing 20  19  3  7  U.S. small business commercial 28  16  197  184  Total commercial 3,328  2,773  300  278  Total nonperforming loans $ 5,975  $ 5,485  $ 1,931  $ 1,756  Percentage of outstanding loans and leases 0.55  % 0.52  % 0.18  % 0.17  % (1)Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At December 31, 2024 and 2023 residential mortgage included $119 million and $156 million of loans on which interest had been curtailed by the FHA, and therefore were no longer accruing interest, although principal was still insured, and $110 million and $96 million of loans on which interest was still accruing. (2)Primarily relates to loans for which the estimated fair value of the underlying collateral less any costs to sell is greater than the amortized cost of the loans as of the reporting date. n/a = not applicable
Financing Receivable Credit Quality Indicators	The following tables present certain credit quality indicators and gross charge-offs for the Corporation's Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments by year of origination, except for revolving loans and revolving loans that were modified into term loans, which are shown on an aggregate basis at December 31, 2024. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of December 31,  2024 2024 2023 2022 2021 2020 Prior Residential Mortgage Refreshed LTV       Less than or equal to 90 percent $ 215,575  $ 18,115  $ 12,910  $ 36,748  $ 71,912  $ 32,504  $ 43,386  Greater than 90 percent but less than or equal to 100 percent 1,848  724  463  471  122  31  37  Greater than 100 percent 863  428  195  144  56  15  25  Fully-insured loans 9,913  288  190  302  3,153  2,568  3,412  Total Residential Mortgage $ 228,199  $ 19,555  $ 13,758  $ 37,665  $ 75,243  $ 35,118  $ 46,860  Residential Mortgage Refreshed FICO score Less than 620 $ 2,619  $ 172  $ 171  $ 484  $ 649  $ 427  $ 716  Greater than or equal to 620 and less than 680 4,687  329  337  826  1,201  736  1,258  Greater than or equal to 680 and less than 740 22,666  2,008  1,553  4,112  6,322  3,431  5,240  Greater than or equal to 740 188,314  16,758  11,507  31,941  63,918  27,956  36,234  Fully-insured loans 9,913  288  190  302  3,153  2,568  3,412  Total Residential Mortgage $ 228,199  $ 19,555  $ 13,758  $ 37,665  $ 75,243  $ 35,118  $ 46,860  Gross charge-offs for the year ended December 31, 2024 $ 21  $ 2  $ 3  $ 6  $ 2  $ 1  $ 7  Home Equity - Credit Quality Indicators Total Home Equity Loans and Reverse Mortgages (1) Revolving Loans Revolving Loans Converted to Term Loans (Dollars in millions) December 31, 2024 Home Equity Refreshed LTV       Less than or equal to 90 percent $ 25,638  $ 780  $ 21,450  $ 3,408  Greater than 90 percent but less than or equal to 100 percent 51  4  42  5  Greater than 100 percent 48  3  34  11  Total Home Equity $ 25,737  $ 787  $ 21,526  $ 3,424  Home Equity Refreshed FICO score Less than 620 $ 645  $ 72  $ 320  $ 253  Greater than or equal to 620 and less than 680 1,115  83  689  343  Greater than or equal to 680 and less than 740 4,373  161  3,429  783  Greater than or equal to 740 19,604  471  17,088  2,045  Total Home Equity $ 25,737  $ 787  $ 21,526  $ 3,424  Gross charge-offs for the year ended December 31, 2024 $ 21  $ 6  $ 9  $ 6  (1)Includes reverse mortgages of $500 million and home equity loans of $287 million, which are no longer originated. Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage Direct/Indirect Term Loans by Origination Year Credit Card (Dollars in millions) Total Direct/ Indirect as of December 31, 2024 Revolving Loans 2024 2023 2022 2021 2020 Prior Total Credit Card as of December 31, 2024 Revolving Loans Revolving Loans Converted to Term Loans (1) Refreshed FICO score     Less than 620 $ 1,483  $ 10  $ 249  $ 452  $ 433  $ 243  $ 53  $ 43  $ 5,866  $ 5,511  $ 355  Greater than or equal to 620 and less than 680 2,360  9  735  699  523  272  67  55  11,580  11,250  330  Greater than or equal to 680 and less than 740 8,071  42  3,038  2,179  1,587  825  226  174  35,037  34,743  294  Greater than or equal to 740 43,141  67  17,889  11,240  7,635  3,908  1,319  1,083  51,083  51,019  64  Other internal credit    metrics (2,3) 52,067  51,433  165  51  127  95  36  160  —  —  —  Total credit card and other    consumer $ 107,122  $ 51,561  $ 22,076  $ 14,621  $ 10,305  $ 5,343  $ 1,701  $ 1,515  $ 103,566  $ 102,523  $ 1,043  Gross charge-offs for the year    ended December 31, 2024 $ 399  $ 5  $ 46  $ 144  $ 109  $ 51  $ 12  $ 32  $ 4,365  $ 4,188  $ 177  (1)Represents loans that were modified into term loans. (2)Other internal credit metrics may include delinquency status, geography or other factors. (3)Direct/indirect consumer includes $51.4 billion of securities-based lending, which is typically supported by highly liquid collateral with market value greater than or equal to the outstanding loan balance and therefore has minimal credit risk at December 31, 2024. Commercial – Credit Quality Indicators By Vintage (1) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of December 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Loans U.S. Commercial Risk ratings         Pass rated $ 374,380  $ 49,587  $ 33,352  $ 34,015  $ 20,801  $ 10,172  $ 34,176  $ 192,277  Reservable criticized 12,610  157  901  1,035  799  340  1,996  7,382  Total U.S. Commercial $ 386,990  $ 49,744  $ 34,253  $ 35,050  $ 21,600  $ 10,512  $ 36,172  $ 199,659  Gross charge-offs for the year ended    December 31, 2024 $ 439  $ 3  $ 122  $ 80  $ 19  $ 4  $ 63  $ 148  Non-U.S. Commercial Risk ratings Pass rated $ 135,720  $ 27,119  $ 14,268  $ 12,220  $ 11,750  $ 1,328  $ 6,777  $ 62,258  Reservable criticized 1,798  22  180  145  310  8  106  1,027  Total Non-U.S. Commercial $ 137,518  $ 27,141  $ 14,448  $ 12,365  $ 12,060  $ 1,336  $ 6,883  $ 63,285  Gross charge-offs for the year ended    December 31, 2024 $ 81  $ —  $ 41  $ 22  $ 16  $ —  $ —  $ 2  Commercial Real Estate Risk ratings Pass rated $ 55,607  $ 5,422  $ 4,935  $ 10,755  $ 8,990  $ 2,911  $ 13,310  $ 9,284  Reservable criticized 10,123  41  211  3,252  2,100  588  3,372  559  Total Commercial Real Estate $ 65,730  $ 5,463  $ 5,146  $ 14,007  $ 11,090  $ 3,499  $ 16,682  $ 9,843  Gross charge-offs for the year ended    December 31, 2024 $ 894  $ —  $ —  $ 57  $ 83  $ 62  $ 663  $ 29  Commercial Lease Financing Risk ratings Pass rated $ 15,417  $ 3,902  $ 3,675  $ 2,465  $ 1,921  $ 1,033  $ 2,421  $ —  Reservable criticized 291  9  96  67  52  23  44  —  Total Commercial Lease Financing $ 15,708  $ 3,911  $ 3,771  $ 2,532  $ 1,973  $ 1,056  $ 2,465  $ —  Gross charge-offs for the year ended    December 31, 2024 $ 2  $ —  $ —  $ —  $ 2  $ —  $ —  $ —  U.S. Small Business Commercial (2) Risk ratings Pass rated $ 9,806  $ 1,926  $ 1,887  $ 1,650  $ 1,302  $ 604  $ 1,992  $ 445  Reservable criticized 443  8  83  104  115  25  105  3  Total U.S. Small Business Commercial $ 10,249  $ 1,934  $ 1,970  $ 1,754  $ 1,417  $ 629  $ 2,097  $ 448  Gross charge-offs for the year ended    December 31, 2024 $ 30  $ —  $ 1  $ 2  $ 1  $ 6  $ 7  $ 13  Total $ 616,195  $ 88,193  $ 59,588  $ 65,708  $ 48,140  $ 17,032  $ 64,299  $ 273,235  Gross charge-offs for the year ended    December 31, 2024 $ 1,446  $ 3  $ 164  $ 161  $ 121  $ 72  $ 733  $ 192  (1)Excludes $4.0 billion of loans accounted for under the fair value option at December 31, 2024. (2)Excludes U.S. Small Business Card loans of $10.6 billion. Refreshed FICO scores for this portfolio are $699 million for less than 620; $1.2 billion for greater than or equal to 620 and less than 680; $3.0 billion for greater than or equal to 680 and less than 740; and $5.8 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $489 million. The following tables present certain credit quality indicators for the Corporation's Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments by year of origination, except for revolving loans and revolving loans that were modified into term loans, which are shown on an aggregate basis at December 31, 2023. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of  December 31,  2023 2023 2022 2021 2020 2019 Prior Residential Mortgage Refreshed LTV Less than or equal to 90 percent $ 214,661  $ 15,224  $ 38,225  $ 76,229  $ 35,072  $ 17,432  $ 32,479  Greater than 90 percent but less than or equal to 100 percent 1,994  698  911  286  53  25  21  Greater than 100 percent 785  264  342  100  31  14  34  Fully-insured loans 10,963  540  350  3,415  2,834  847  2,977  Total Residential Mortgage $ 228,403  $ 16,726  $ 39,828  $ 80,030  $ 37,990  $ 18,318  $ 35,511  Residential Mortgage Refreshed FICO score Less than 620 $ 2,335  $ 115  $ 471  $ 589  $ 402  $ 136  $ 622  Greater than or equal to 620 and less than 680 4,671  359  919  1,235  777  296  1,085  Greater than or equal to 680 and less than 740 23,357  1,934  4,652  6,988  3,742  1,836  4,205  Greater than or equal to 740 187,077  13,778  33,436  67,803  30,235  15,203  26,622  Fully-insured loans 10,963  540  350  3,415  2,834  847  2,977  Total Residential Mortgage $ 228,403  $ 16,726  $ 39,828  $ 80,030  $ 37,990  $ 18,318  $ 35,511  Gross charge-offs for the year ended December 31, 2023 $ 67  $ —  $ 7  $ 12  $ 6  $ 2  $ 40  Home Equity - Credit Quality Indicators Total Home Equity Loans and Reverse Mortgages (1) Revolving Loans Revolving Loans Converted to Term Loans (Dollars in millions) December 31, 2023 Home Equity Refreshed LTV Less than or equal to 90 percent $ 25,378  $ 1,051  $ 20,380  $ 3,947  Greater than 90 percent but less than or equal to 100 percent 61  17  35  9  Greater than 100 percent 88  35  36  17  Total Home Equity $ 25,527  $ 1,103  $ 20,451  $ 3,973  Home Equity Refreshed FICO score Less than 620 $ 654  $ 123  $ 253  $ 278  Greater than or equal to 620 and less than 680 1,107  118  589  400  Greater than or equal to 680 and less than 740 4,340  240  3,156  944  Greater than or equal to 740 19,426  622  16,453  2,351  Total Home Equity $ 25,527  $ 1,103  $ 20,451  $ 3,973  Gross charge-offs for the year ended December 31, 2023 $ 36  $ 4  $ 21  $ 11  (1)Includes reverse mortgages of $763 million and home equity loans of $340 million, which are no longer originated. Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage Direct/Indirect Term Loans by Origination Year Credit Card (Dollars in millions) Total Direct/Indirect as of December 31, 2023 Revolving Loans 2023 2022 2021 2020 2019 Prior Total Credit Card as of December 31, 2023 Revolving Loans Revolving Loans Converted to Term Loans (1) Refreshed FICO score Less than 620 $ 1,246  $ 11  $ 292  $ 428  $ 336  $ 85  $ 55  $ 39  $ 5,338  $ 5,030  $ 308  Greater than or equal to 620 and less than 680 2,506  11  937  799  501  121  73  64  11,623  11,345  278  Greater than or equal to 680 and less than 740 8,629  48  3,451  2,582  1,641  462  244  201  34,777  34,538  239  Greater than or equal to 740 41,656  74  16,761  11,802  7,643  2,707  1,417  1,252  50,462  50,410  52  Other internal credit    metrics (2, 3) 49,431  48,764  106  183  110  53  57  158  —  —  —  Total credit card and other    consumer $ 103,468  $ 48,908  $ 21,547  $ 15,794  $ 10,231  $ 3,428  $ 1,846  $ 1,714  $ 102,200  $ 101,323  $ 877  Gross charge-offs for the year    ended December 31, 2023 $ 233  $ 5  $ 32  $ 95  $ 53  $ 15  $ 10  $ 23  $ 3,133  $ 3,013  $ 120  (1)Represents loans that were modified into term loans. (2)Other internal credit metrics may include delinquency status, geography or other factors. (3)Direct/indirect consumer includes $48.8 billion of securities-based lending, which is typically supported by highly liquid collateral with market value greater than or equal to the outstanding loan balance and therefore has minimal credit risk at December 31, 2023. Commercial – Credit Quality Indicators By Vintage (1) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans U.S. Commercial Risk ratings         Pass rated $ 347,563  $ 41,842  $ 43,290  $ 27,738  $ 13,495  $ 11,772  $ 29,923  $ 179,503  Reservable criticized 11,368  278  1,316  708  363  537  1,342  6,824  Total U.S. Commercial $ 358,931  $ 42,120  $ 44,606  $ 28,446  $ 13,858  $ 12,309  $ 31,265  $ 186,327  Gross charge-offs for the year ended    December 31, 2023 $ 191  $ 5  $ 38  $ 29  $ 4  $ 2  $ 27  $ 86  Non-U.S. Commercial Risk ratings Pass rated $ 122,931  $ 17,053  $ 15,810  $ 15,256  $ 2,405  $ 2,950  $ 5,485  $ 63,972  Reservable criticized 1,650  50  184  294  90  158  74  800  Total Non-U.S. Commercial $ 124,581  $ 17,103  $ 15,994  $ 15,550  $ 2,495  $ 3,108  $ 5,559  $ 64,772  Gross charge-offs for the year ended    December 31, 2023 $ 37  $ —  $ —  $ 8  $ 7  $ 1  $ —  $ 21  Commercial Real Estate Risk ratings Pass rated $ 64,150  $ 4,877  $ 16,147  $ 11,810  $ 4,026  $ 7,286  $ 10,127  $ 9,877  Reservable criticized 8,728  134  749  1,728  782  2,132  2,794  409  Total Commercial Real Estate $ 72,878  $ 5,011  $ 16,896  $ 13,538  $ 4,808  $ 9,418  $ 12,921  $ 10,286  Gross charge-offs for the year ended    December 31, 2023 $ 254  $ 2  $ —  $ 4  $ —  $ 59  $ 189  $ —  Commercial Lease Financing Risk ratings Pass rated $ 14,688  $ 4,188  $ 3,077  $ 2,373  $ 1,349  $ 1,174  $ 2,527  $ —  Reservable criticized 166  9  22  46  16  32  41  —  Total Commercial Lease Financing $ 14,854  $ 4,197  $ 3,099  $ 2,419  $ 1,365  $ 1,206  $ 2,568  $ —  Gross charge-offs for the year ended    December 31, 2023 $ 2  $ —  $ —  $ 1  $ 1  $ —  $ —  $ —  U.S. Small Business Commercial (2) Risk ratings Pass rated $ 9,031  $ 1,886  $ 1,830  $ 1,550  $ 836  $ 721  $ 1,780  $ 428  Reservable criticized 384  6  64  95  40  63  113  3  Total U.S. Small Business Commercial $ 9,415  $ 1,892  $ 1,894  $ 1,645  $ 876  $ 784  $ 1,893  $ 431  Gross charge-offs for the year ended    December 31, 2023 $ 43  $ 1  $ 2  $ 2  $ 19  $ 3  $ 4  $ 12   Total $ 580,659  $ 70,323  $ 82,489  $ 61,598  $ 23,402  $ 26,825  $ 54,206  $ 261,816  Gross charge-offs for the year ended    December 31, 2023 $ 527  $ 8  $ 40  $ 44  $ 31  $ 65  $ 220  $ 119  (1) Excludes $3.3 billion of loans accounted for under the fair value option at December 31, 2023. (2) Excludes U.S. Small Business Card loans of $9.8 billion. Refreshed FICO scores for this portfolio are $530 million for less than 620; $1.1 billion for greater than or equal to 620 and less than 680; $2.7 billion for greater than or equal to 680 and less than 740; and $5.5 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $317 million.
Troubled Debt Restructurings on Financing Receivables	The table below provides the ending amortized cost of the Corporation’s modified consumer real estate loans at December 31, 2024 and 2023. Consumer Real Estate - Modifications to Borrowers in Financial Difficulty Forbearance and Other Payment Plans Permanent Modification Total As a % of Financing Receivables (Dollars in millions) Year Ended December 31, 2024 Residential Loans $ 46  $ 186  $ 232  0.10  % Home Equity 1  31  32  0.12  % Total $ 47  $ 217  $ 264  0.10  % Year Ended December 31, 2023 Residential Loans $ 429  $ 154  $ 583  0.26  % Home Equity 57  31  88  0.34  Total $ 486  $ 185  $ 671  0.26  The table below presents the financial effect of modified consumer real estate loans. Financial Effect of Modified Consumer Real Estate Loans Year Ended December 31 2024 2023 Forbearance and Other Payment Plans Weighted-average duration Residential Mortgage 7 months 8 months Home Equity n/a 9 months Permanent Modifications Weighted-average Term Extension Residential Mortgage 9.6 years 9.9 years Home Equity 17.7 years 17.7 years Weighted-average Interest Rate Reduction Residential Mortgage 1.25  % 1.41  % Home Equity 2.61  % 2.74  % n/a = not applicable The table below provides aging information as of December 31, 2024 and 2023 for consumer real estate loans that were modified over the last 12 months. Consumer Real Estate - Payment Status of Modifications to Borrowers in Financial Difficulty Current 30–89 Days Past Due 90+ Days Past Due Total (Dollars in millions) December 31, 2024 Residential mortgage $ 123  $ 54  $ 55  $ 232  Home equity 28  2  2  32  Total $ 151  $ 56  $ 57  $ 264  December 31, 2023 Residential mortgage $ 334  $ 101  $ 148  $ 583  Home equity 58  5  25  88  Total $ 392  $ 106  $ 173  $ 671  The following table provides the ending amortized cost of commercial loans modified during 2024 and 2023. Commercial Loans - Modifications to Borrowers in Financial Difficulty Term Extension Forbearances Interest Rate Reduction Total As a % of Financing Receivables (Dollars in millions) Year Ended December 31, 2024 U.S. commercial $ 1,266 $ 262 $ — $ 1,528 0.39  % Non-U.S. commercial 27 — — 27 0.02  Commercial real estate 1,849 444 100 2,393 3.64  Total $ 3,142 $ 706 $ 100 $ 3,948 0.67  Year Ended December 31, 2023 U.S. commercial $ 1,016 $ 30 $ — $ 1,046 0.29  % Non-U.S. commercial 136 — 24 160 0.13  Commercial real estate 1,656 416 — 2,072 2.84  Total $ 2,808 $ 446 $ 24 $ 3,278 0.59  The table below provides aging information as of December 31, 2024 and 2023 for commercial loans that were modified over the last 12 months. Commercial - Payment Status of Modified Loans to Borrowers in Financial Difficulty Current 30–89 Days Past Due 90+ Days Past Due Total (Dollars in millions) December 31, 2024 U.S. Commercial $ 1,346  $ 70  $ 112  $ 1,528 Non-U.S. Commercial 27  —  —  27 Commercial Real Estate 2,100  90  203  2,393 Total $ 3,473  $ 160  $ 315  $ 3,948 December 31, 2023 U.S. Commercial $ 1,015  $ 3  $ 28  $ 1,046 Non-U.S. Commercial 157  3  —  160 Commercial Real Estate 1,608  122  342  2,072 Total $ 2,780  $ 128  $ 370  $ 3,278 The following table presents the December 31, 2022 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of consumer real estate loans that were modified in TDRs during 2022. The following Consumer Real Estate portfolio segment tables include loans that were initially classified as TDRs during the period and also loans that had previously been classified as TDRs and were modified again during the period. Binding trial modifications are classified as TDRs when the trial offer is made and continue to be classified as TDRs regardless of whether the borrower enters into a permanent modification. At December 31, 2022, remaining commitments to lend additional funds to debtors whose terms have been modified in a consumer real estate TDR were not significant. Consumer Real Estate – TDRs Entered into During 2022 Unpaid Principal Balance Carrying Value Pre-Modification Interest Rate Post-Modification Interest Rate (1) (Dollars in millions) December 31, 2022 Residential mortgage $ 1,144  $ 1,015  3.52  % 3.40  % Home equity 238  191  4.61  4.65  Total $ 1,382  $ 1,206  3.71  3.62  (1) The post-modification interest rate reflects the interest rate applicable only to permanently completed modifications, which exclude loans that are in a trial modification period. The table below presents the December 31, 2022 carrying value for consumer real estate loans that were modified in a TDR during 2022, by type of modification. Consumer Real Estate – Modification Programs TDRs Entered into During (Dollars in millions) 2022 Modifications under government programs $ 2  Modifications under proprietary programs 1,100  Loans discharged in Chapter 7 bankruptcy (1) 14  Trial modifications 90  Total modifications $ 1,206  (1) Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. The table below presents the carrying value of consumer real estate loans that entered into payment default during 2022 that were modified in a TDR during the 12 months preceding payment default. A payment default for consumer real estate TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification. Consumer Real Estate – TDRs Entering Payment Default that were Modified During the Preceding 12 Months (Dollars in millions) 2022 Modifications under proprietary programs $ 189  Loans discharged in Chapter 7 bankruptcy (1) 2  Trial modifications (2) 25  Total modifications $ 216  (1)Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. (2)Includes trial modification offers to which the customer did not respond. The table below provides information on the Corporation’s Credit Card and Other Consumer TDR portfolio including December 31, 2022 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of loans that were modified in TDRs during 2022. Credit Card and Other Consumer – TDRs Entered into During 2022   Unpaid Principal Balance Carrying Value (1) Pre-Modification Interest Rate Post-Modification Interest Rate (Dollars in millions) December 31, 2022 Credit card $ 284  $ 293  22.34  % 3.89  % Direct/Indirect consumer 6  5  5.51  5.50  Total $ 290  $ 298  22.06  3.92  (1) Includes accrued interest and fees. The table below presents the December 31, 2022 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during 2022 by program type. Credit Card and Other Consumer – TDRs by Program Type (1) (Dollars in millions) 2022 Internal programs $ 251  External programs 44  Other 3  Total $ 298  (1) Includes accrued interest and fees.
Changes in the Allowance for Credit Losses	The changes in the allowance for credit losses, including net charge-offs and provision for loan and lease losses, are detailed in the following table. Consumer Real Estate Credit Card and  Other Consumer Commercial Total (Dollars in millions) 2024 Allowance for loan and lease losses, January 1 $ 386  $ 8,134  $ 4,822  $ 13,342  Loans and leases charged off (42) (5,077) (1,935) (7,054) Recoveries of loans and leases previously charged off 83  798  142  1,023  Net charge-offs 41  (4,279) (1,793) (6,031) Provision for loan and lease losses (135) 4,421  1,649  5,935  Other 1  1  (8) (6) Allowance for loan and lease losses, December 31 293  8,277  4,670  13,240  Reserve for unfunded lending commitments, January 1 82  —  1,127  1,209  Provision for unfunded lending commitments (26) —  (88) (114) Other 1  —  —  1  Reserve for unfunded lending commitments, December 31 57  —  1,039  1,096  Allowance for credit losses, December 31 $ 350  $ 8,277  $ 5,709  $ 14,336  2023 Allowance for loan and lease losses, December 31 $ 420  $ 6,817  $ 5,445  $ 12,682  January 1, 2023 adoption of credit loss standard (67) (109) (67) (243) Allowance for loan and lease losses, January 1 353  6,708  5,378  12,439  Loans and leases charged off (103) (3,870) (844) (4,817) Recoveries of loans and leases previously charged off 146  737  135  1,018  Net charge-offs 43  (3,133) (709) (3,799) Provision for loan and lease losses (19) 4,558  186  4,725  Other 9  1  (33) (23) Allowance for loan and lease losses, December 31 386  8,134  4,822  13,342  Reserve for unfunded lending commitments, January 1 94  —  1,446  1,540  Provision for unfunded lending commitments (12) —  (319) (331) Reserve for unfunded lending commitments, December 31 82  —  1,127  1,209  Allowance for credit losses, December 31 $ 468  $ 8,134  $ 5,949  $ 14,551  2022 Allowance for loan and lease losses, January 1 $ 557  $ 6,476  $ 5,354  $ 12,387  Loans and leases charged off (206) (2,755) (478) (3,439) Recoveries of loans and leases previously charged off 224  882  161  1,267  Net charge-offs 18  (1,873) (317) (2,172) Provision for loan and lease losses (164) 2,215  409  2,460  Other 9  (1) (1) 7  Allowance for loan and lease losses, December 31 420  6,817  5,445  12,682  Reserve for unfunded lending commitments, January 1 96  —  1,360  1,456  Provision for unfunded lending commitments (3) —  86  83  Other 1  —  —  1  Reserve for unfunded lending commitments, December 31 94  —  1,446  1,540  Allowance for credit losses, December 31 $ 514  $ 6,817  $ 6,891  $ 14,222