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

v3.25.2

Outstanding Loans and Leases and Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2025
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 June 30, 2025 and December 31, 2024. 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) June 30, 2025 Consumer real estate             Residential mortgage $ 1,289  $ 251  $ 722  $ 2,262  $ 233,051  $ 235,313  Home equity 81  30  116  227  25,915  26,142  Credit card and other consumer Credit card 663  468  1,257  2,388  98,821  101,209  Direct/Indirect consumer (2) 294  138  91  523  109,207  109,730  Other consumer —  —  —  —  165  165  Total consumer 2,327  887  2,186  5,400  467,159  472,559  Consumer loans accounted for under the fair value option (3) $ 214  214  Total consumer loans and leases 2,327  887  2,186  5,400  467,159  214  472,773  Commercial U.S. commercial 658  375  336  1,369  414,054  415,423  Non-U.S. commercial 8  28  14  50  148,625  148,675  Commercial real estate (4) 29  26  1,212  1,267  64,409  65,676  Commercial lease financing 14  14  32  60  15,692  15,752  U.S. small business commercial 206  95  205  506  21,602  22,108  Total commercial 915  538  1,799  3,252  664,382  667,634  Commercial loans accounted for under the fair value option (3) 6,649  6,649  Total commercial loans and leases 915  538  1,799  3,252  664,382  6,649  674,283  Total loans and leases (5) $ 3,242  $ 1,425  $ 3,985  $ 8,652  $ 1,131,541  $ 6,863  $ 1,147,056  Percentage of outstandings 0.28  % 0.12  % 0.35  % 0.75  % 98.65  % 0.60  % 100.00  % (1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $171 million and nonperforming loans of $165 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $52 million and nonperforming loans of $96 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $196 million and nonperforming loans of $642 million. Consumer real estate loans current or less than 30 days past due includes $1.5 billion, and direct/indirect consumer includes $51 million of nonperforming loans. (2)Total outstandings primarily includes auto and specialty lending loans and leases of $54.8 billion, U.S. securities-based lending loans of $51.2 billion and non-U.S. consumer loans of $2.9 billion. (3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $58 million and home equity loans of $156 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.5 billion and non-U.S. commercial loans of $4.1 billion. For more information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option. (4)Total outstandings includes U.S. commercial real estate loans of $59.7 billion and non-U.S. commercial real estate loans of $6.0 billion. (5)Total outstandings includes loans and leases pledged as collateral of $25.2 billion. The Corporation also pledged $311.2 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, 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 14 – Fair Value Measurements and Note 15 – 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.
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 June 30, 2025 and December 31, 2024. Nonperforming loans held-for-sale (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 to the Consolidated Financial Statements of the Corporation’s 2024 Annual Report on Form 10-K. Credit Quality Nonperforming Loans and Leases Accruing Past Due 90 Days or More (Dollars in millions) June 30 2025 December 31 2024 June 30 2025 December 31 2024 Residential mortgage (1) $ 2,008  $ 2,052  $ 196  $ 229  With no related allowance (2) 1,836  1,883  —  —  Home equity (1) 393  409  —  —  With no related allowance (2) 323  334  —  —  Credit Card             n/a             n/a 1,257  1,401  Direct/indirect consumer 163  186  8  1  Total consumer 2,564  2,647  1,461  1,631  U.S. commercial 1,277  1,204  66  90  Non-U.S. commercial 102  8  3  4  Commercial real estate 1,964  2,068  16  6  Commercial lease financing 35  20  7  3  U.S. small business commercial 39  28  198  197  Total commercial 3,417  3,328  290  300  Total nonperforming loans $ 5,981  $ 5,975  $ 1,751  $ 1,931  Percentage of outstanding loans and leases 0.52  % 0.55  % 0.15  % 0.18  % (1)Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At June 30, 2025 and December 31, 2024 residential mortgage included $117 million and $119 million of loans on which interest had been curtailed by the Federal Housing Administration (FHA), and therefore were no longer accruing interest, although principal was still insured, and $79 million and $110 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 June 30, 2025. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of June 30,  2025 2025 2024 2023 2022 2021 Prior Residential Mortgage Refreshed LTV       Less than or equal to 90 percent $ 222,622  $ 10,025  $ 16,895  $ 13,698  $ 38,203  $ 72,254  $ 71,547  Greater than 90 percent but less than or equal to 100 percent 2,098  322  712  425  448  122  69  Greater than 100 percent 1,081  261  402  159  156  58  45  Fully-insured loans 9,512  136  206  178  288  3,019  5,685  Total Residential Mortgage $ 235,313  $ 10,744  $ 18,215  $ 14,460  $ 39,095  $ 75,453  $ 77,346  Residential Mortgage Refreshed FICO score Less than 620 $ 2,880  $ 89  $ 227  $ 189  $ 510  $ 701  $ 1,164  Greater than or equal to 620 and less than 660 2,304  80  193  137  437  519  938  Greater than or equal to 660 and less than 740 25,185  1,072  2,190  1,636  4,554  6,818  8,915  Greater than or equal to 740 195,432  9,367  15,399  12,320  33,306  64,396  60,644  Fully-insured loans 9,512  136  206  178  288  3,019  5,685  Total Residential Mortgage $ 235,313  $ 10,744  $ 18,215  $ 14,460  $ 39,095  $ 75,453  $ 77,346  Gross charge-offs for the six months ended June 30, 2025 $ 12  $ —  $ 1  $ 3  $ 3  $ 1  $ 4  Home Equity - Credit Quality Indicators Total Home Equity Loans and Reverse Mortgages (1) Revolving Loans Revolving Loans Converted to Term Loans (Dollars in millions) June 30, 2025 Home Equity Refreshed LTV       Less than or equal to 90 percent $ 26,014  $ 729  $ 22,075  $ 3,210  Greater than 90 percent but less than or equal to 100 percent 65  4  56  5  Greater than 100 percent 63  3  50  10  Total Home Equity $ 26,142  $ 736  $ 22,181  $ 3,225  Home Equity Refreshed FICO score Less than 620 $ 670  $ 72  $ 353  $ 245  Greater than or equal to 620 and less than 660 593  44  367  182  Greater than or equal to 660 and less than 740 4,875  180  3,831  864  Greater than or equal to 740 20,004  440  17,630  1,934  Total Home Equity $ 26,142  $ 736  $ 22,181  $ 3,225  Gross charge-offs for the six months ended June 30, 2025 $ 8  $ —  $ 5  $ 3  (1)Includes reverse mortgages of $472 million and home equity loans of $264 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 June 30, 2025 Revolving Loans 2025 2024 2023 2022 2021 Prior Total Credit Card as of June 30, 2025 Revolving Loans Revolving Loans Converted to Term Loans (1) Refreshed FICO score     Less than 620 $ 1,554  $ 11  $ 84  $ 369  $ 456  $ 378  $ 193  $ 63  $ 5,943  $ 5,577  $ 366  Greater than or equal to 620 and less than 660 1,239  4  157  369  318  234  112  45  5,639  5,412  227  Greater than or equal to 660 and less than 740 8,831  45  1,846  2,748  1,935  1,326  653  278  39,593  39,140  453  Greater than or equal to 740 43,343  69  9,979  14,335  8,946  5,692  2,774  1,548  50,034  49,961  73  Other internal credit    metrics (2,3) 54,763  54,066  139  84  53  173  47  201  —  —  —  Total credit card and other    consumer $ 109,730  $ 54,195  $ 12,205  $ 17,905  $ 11,708  $ 7,803  $ 3,779  $ 2,135  $ 101,209  $ 100,090  $ 1,119  Gross charge-offs for the six   months ended June 30, 2025 $ 186  $ 3  $ 4  $ 59  $ 49  $ 36  $ 17  $ 18  $ 2,326  $ 2,247  $ 79  (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 $54.1 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 June 30, 2025. Commercial – Credit Quality Indicators By Vintage (1) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of June 30, 2025 2025 2024 2023 2022 2021 Prior Revolving Loans U.S. Commercial Risk ratings         Pass rated $ 402,029  $ 27,860  $ 44,982  $ 27,699  $ 30,891  $ 17,739  $ 41,042  $ 211,816  Reservable criticized 13,394  110  519  1,119  986  645  1,838  8,177  Total U.S. Commercial $ 415,423  $ 27,970  $ 45,501  $ 28,818  $ 31,877  $ 18,384  $ 42,880  $ 219,993  Gross charge-offs for the six months ended    June 30, 2025 $ 246  $ 2  $ 5  $ 17  $ 37  $ 6  $ 26  $ 153  Non-U.S. Commercial Risk ratings Pass rated $ 146,463  $ 13,527  $ 25,395  $ 11,762  $ 10,259  $ 11,394  $ 6,572  $ 67,554  Reservable criticized 2,212  1  50  417  202  178  75  1,289  Total Non-U.S. Commercial $ 148,675  $ 13,528  $ 25,445  $ 12,179  $ 10,461  $ 11,572  $ 6,647  $ 68,843  Gross charge-offs for the six months ended    June 30, 2025 $ 8  $ —  $ —  $ 7  $ —  $ —  $ —  $ 1  Commercial Real Estate Risk ratings Pass rated $ 55,469  $ 3,202  $ 5,484  $ 4,733  $ 9,614  $ 7,623  $ 14,656  $ 10,157  Reservable criticized 10,207  6  242  474  2,969  2,185  3,720  611  Total Commercial Real Estate $ 65,676  $ 3,208  $ 5,726  $ 5,207  $ 12,583  $ 9,808  $ 18,376  $ 10,768  Gross charge-offs for the six months ended    June 30, 2025 $ 336  $ —  $ —  $ —  $ 48  $ 70  $ 218  $ —  Commercial Lease Financing Risk ratings Pass rated $ 15,332  $ 1,748  $ 3,594  $ 3,227  $ 2,108  $ 1,857  $ 2,798  $ —  Reservable criticized 420  8  64  134  90  53  71  —  Total Commercial Lease Financing $ 15,752  $ 1,756  $ 3,658  $ 3,361  $ 2,198  $ 1,910  $ 2,869  $ —  Gross charge-offs for the six months ended   June 30, 2025 $ 3  $ —  $ 1  $ 2  $ —  $ —  $ —  $ —  U.S. Small Business Commercial (2) Risk ratings Pass rated $ 10,445  $ 1,236  $ 1,949  $ 1,769  $ 1,556  $ 1,226  $ 1,944  $ 765  Reservable criticized 516  4  47  145  104  89  119  8  Total U.S. Small Business Commercial $ 10,961  $ 1,240  $ 1,996  $ 1,914  $ 1,660  $ 1,315  $ 2,063  $ 773  Gross charge-offs for the six months ended    June 30, 2025 $ 17  $ —  $ —  $ 1  $ 1  $ 1  $ 5  $ 9  Total $ 656,487  $ 47,702  $ 82,326  $ 51,479  $ 58,779  $ 42,989  $ 72,835  $ 300,377  Gross charge-offs for the six months ended    June 30, 2025 $ 610  $ 2  $ 6  $ 27  $ 86  $ 77  $ 249  $ 163  (1)Excludes $6.6 billion of loans accounted for under the fair value option at June 30, 2025. (2)Excludes U.S. Small Business Card loans of $11.1 billion. Refreshed FICO scores for this portfolio are $743 million for less than 620; $624 million for greater than or equal to 620 and less than 660; $3.6 billion for greater than or equal to 660 and less than 740; and $6.2 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $279 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, 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 660 2,187  170  145  396  515  366  595  Greater than or equal to 660 and less than 740 25,166  2,167  1,745  4,542  7,008  3,801  5,903  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 660 577  46  339  192  Greater than or equal to 660 and less than 740 4,911  198  3,779  934  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 660 1,219  4  352  363  282  150  38  30  5,746  5,537  209  Greater than or equal to 660 and less than 740 9,212  47  3,421  2,515  1,828  947  255  199  40,871  40,456  415  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; $600 million for greater than or equal to 620 and less than 660; $3.6 billion for greater than or equal to 660 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.
Troubled Debt Restructurings on Financing Receivables	The table below provides the ending amortized cost of the Corporation’s consumer real estate loans modified during the three and six months ended June 30, 2025 and 2024. Consumer Real Estate - Modifications to Borrowers in Financial Difficulty Forbearance and Other Payment Plans Permanent Modification Total As a % of Financing Receivables Forbearance and Other Payment Plans Permanent Modification Total As a % of Financing Receivables (Dollars in millions) Three Months Ended June 30, 2025 Six Months Ended June 30, 2025 Residential Loans $ 10  $ 58  $ 68  0.03  % $ 17  $ 98  $ 115  0.05  % Home Equity —  5  5  0.02  % —  12  12  0.05  % Total $ 10  $ 63  $ 73  0.03  % $ 17  $ 110  $ 127  0.05  % Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Residential Loans $ 22  $ 73  $ 95  0.04  % $ 38  $ 126  $ 164  0.07  % Home Equity —  10  10  0.04  —  18  18  0.07  Total $ 22  $ 83  $ 105  0.04  $ 38  $ 144  $ 182  0.07  The table below presents the financial effect of modified consumer real estate loans. Financial Effect of Modified Consumer Real Estate Loans Three Months Ended June 30 Six Months Ended June 30 2025 2024 2025 2024 Forbearance and Other Payment Plans Weighted-average duration Residential Mortgage 6 months 5 months 6 months 7 months Home Equity n/m n/m n/m n/m Permanent Modifications Weighted-average Term Extension Residential Mortgage 9.2 years 9.2 years 9.4 years 9.1 years Home Equity 14.7 years 18.4 years 16.6 years 17.4 years Weighted-average Interest Rate Reduction Residential Mortgage 1.06  % 1.34  % 1.19  % 1.32  % Home Equity 2.27  % 2.42  % 2.23  % 2.60  % n/m = not meaningful The table below provides aging information as of June 30, 2025 and 2024 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) June 30, 2025 Residential mortgage $ 109  $ 44  $ 37  $ 190  Home equity 23  2  1  26  Total $ 132  $ 46  $ 38  $ 216  June 30, 2024 Residential mortgage $ 251  $ 71  $ 66  $ 388  Home equity 45  3  9  57  Total $ 296  $ 74  $ 75  $ 445  The following table provides the ending amortized cost of commercial loans modified during the three and six months ended June 30, 2025 and 2024. Commercial Loans - Modifications to Borrowers in Financial Difficulty Term Extension Forbearances Interest Rate Reduction Total As a % of Financing Receivables Term Extension Forbearances Interest Rate Reduction Total As a % of Financing Receivables (Dollars in millions) Three Months Ended June 30, 2025 Six Months Ended June 30, 2025 U.S. commercial $ 397 $ 104 $ — $ 501 0.12  % $ 610 $ 134 $ — $ 744 0.18  % Non-U.S. commercial — — — — —  33 9 — 42 0.03  Commercial real estate 769 439 — 1,208 1.84  1,403 551 — 1,954 2.98  Total $ 1,166 $ 543 $ — $ 1,709 0.27  $ 2,046 $ 694 $ — $ 2,740 0.44  Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 U.S. commercial $ 470 $ 3 $ — $ 473 0.13  % $ 875 $ 9 $ — $ 884 0.24  % Non-U.S. commercial 29 — — 29 0.02  29 — — 29 0.02  Commercial real estate 176 271 — 447 0.64  665 552 36 1,253 1.78  Total $ 675 $ 274 $ — $ 949 0.17  $ 1,569 $ 561 $ 36 $ 2,166 0.39  The table below provides aging information as of June 30, 2025 and 2024 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) June 30, 2025 U.S. Commercial $ 1,249  $ 7  $ 43  $ 1,299 Non-U.S. Commercial 69  —  —  69 Commercial Real Estate 2,756  5  645  3,406 Total $ 4,074  $ 12  $ 688  $ 4,774 June 30, 2024 U.S. Commercial $ 1,191  $ 10  $ 12  $ 1,213 Non-U.S. Commercial 177  —  —  177 Commercial Real Estate 1,322  91  268  1,681 Total $ 2,690  $ 101  $ 280  $ 3,071
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) Three Months Ended June 30, 2025 Allowance for loan and lease losses, April 1 $ 340  $ 8,212  $ 4,704  $ 13,256  Loans and leases charged off (14) (1,299) (511) (1,824) Recoveries of loans and leases previously charged off 22  232  45  299  Net charge-offs 8  (1,067) (466) (1,525) Provision for loan and lease losses (3) 1,087  476  1,560  Other 1  —  (1) —  Allowance for loan and lease losses, June 30 346  8,232  4,713  13,291  Reserve for unfunded lending commitments, April 1 57  —  1,053  1,110  Provision for unfunded lending commitments 1  —  31  32  Other —  —  1  1  Reserve for unfunded lending commitments, June 30 58  —  1,085  1,143  Allowance for credit losses, June 30 $ 404  $ 8,232  $ 5,798  $ 14,434  Three Months Ended June 30, 2024 Allowance for loan and lease losses, April 1 $ 355  $ 8,121  $ 4,737  $ 13,213  Loans and leases charged off (8) (1,267) (504) (1,779) Recoveries of loans and leases previously charged off 22  194  30  246  Net charge-offs 14  (1,073) (474) (1,533) Provision for loan and lease losses (22) 1,118  466  1,562  Other —  1  (5) (4) Allowance for loan and lease losses, June 30 347  8,167  4,724  13,238  Reserve for unfunded lending commitments, April 1 57  —  1,101  1,158  Provision for unfunded lending commitments (2) —  (52) (54) Reserve for unfunded lending commitments, June 30 55  —  1,049  1,104  Allowance for credit losses, June 30 $ 402  $ 8,167  $ 5,773  $ 14,342  (Dollars in millions) Six Months Ended June 30, 2025 Allowance for loan and lease losses, January 1 $ 293  $ 8,277  $ 4,670  $ 13,240  Loans and leases charged off (20) (2,648) (889) (3,557) Recoveries of loans and leases previously charged off 40  450  90  580  Net charge-offs 20  (2,198) (799) (2,977) Provision for loan and lease losses 29  2,154  843  3,026  Other 4  (1) (1) 2  Allowance for loan and lease losses, June 30 346  8,232  4,713  13,291  Reserve for unfunded lending commitments, January 1 57  —  1,039  1,096  Provision for unfunded lending commitments 1  —  45  46  Other —  —  1  1  Reserve for unfunded lending commitments, June 30 58  —  1,085  1,143  Allowance for credit losses, June 30 $ 404  $ 8,232  $ 5,798  $ 14,434  Six Months Ended June 30, 2024 Allowance for loan and lease losses, January 1 $ 386  $ 8,134  $ 4,822  $ 13,342  Loans and leases charged off (19) (2,492) (1,006) (3,517) Recoveries of loans and leases previously charged off 43  381  62  486  Net charge-offs 24  (2,111) (944) (3,031) Provision for loan and lease losses (64) 2,144  852  2,932  Other 1  —  (6) (5) Allowance for loan and lease losses, June 30 347  8,167  4,724  13,238  Reserve for unfunded lending commitments, January 1 82  —  1,127  1,209  Provision for unfunded lending commitments (27) —  (78) (105) Reserve for unfunded lending commitments, June 30 55  —  1,049  1,104  Allowance for credit losses, June 30 $ 402  $ 8,167  $ 5,773  $ 14,342