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

v3.23.1

Outstanding Loans and Leases and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 and December 31, 2022. 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) March 31, 2023 Consumer real estate             Residential mortgage $ 938  $ 255  $ 894  $ 2,087  $ 226,740  $ 228,827  Home equity 93  34  189  316  25,552  25,868  Credit card and other consumer Credit card 500  346  828  1,674  90,795  92,469  Direct/Indirect consumer (2) 206  78  61  345  104,195  104,540  Other consumer —  —  —  —  120  120  Total consumer 1,737  713  1,972  4,422  447,402  451,824  Consumer loans accounted for under the fair value option (3) $ 334  334  Total consumer loans and leases 1,737  713  1,972  4,422  447,402  334  452,158  Commercial U.S. commercial 892  156  281  1,329  359,326  360,655  Non-U.S. commercial 124  33  133  290  124,537  124,827  Commercial real estate (4) 257  15  114  386  72,665  73,051  Commercial lease financing 46  12  9  67  13,381  13,448  U.S. small business commercial (5) 109  68  262  439  17,765  18,204  Total commercial 1,428  284  799  2,511  587,674  590,185  Commercial loans accounted for under the fair value option (3) 4,063  4,063  Total commercial loans and leases 1,428  284  799  2,511  587,674  4,063  594,248  Total loans and leases (6) $ 3,165  $ 997  $ 2,771  $ 6,933  $ 1,035,076  $ 4,397  $ 1,046,406  Percentage of outstandings 0.30  % 0.10  % 0.26  % 0.66  % 98.92  % 0.42  % 100.00  % (1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $172 million and nonperforming loans of $157 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $69 million and nonperforming loans of $103 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $338 million and nonperforming loans of $745 million. Consumer real estate loans current or less than 30 days past due includes $1.6 billion, and direct/indirect consumer includes $29 million of nonperforming loans. (2)Total outstandings primarily includes auto and specialty lending loans and leases of $52.7 billion, U.S. securities-based lending loans of $48.1 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 $72 million and home equity loans of $262 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 $1.9 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 $67.2 billion and non-U.S. commercial real estate loans of $5.8 billion. (5)Includes Paycheck Protection Program loans. (6)Total outstandings includes loans and leases pledged as collateral of $43.5 billion. The Corporation also pledged $243.8 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, 2022 Consumer real estate             Residential mortgage $ 1,077  $ 245  $ 945  $ 2,267  $ 227,403  $ 229,670  Home equity 88  32  211  331  26,232  26,563  Credit card and other consumer           Credit card 466  322  717  1,505  91,916    93,421  Direct/Indirect consumer (2) 204  59  45  308  105,928    106,236  Other consumer  —  —  —  —  156    156  Total consumer 1,835  658  1,918  4,411  451,635  456,046  Consumer loans accounted for under the fair value option (3) $ 339  339  Total consumer loans and leases 1,835  658  1,918  4,411  451,635  339  456,385  Commercial               U.S. commercial 827  288  330  1,445  357,036    358,481  Non-U.S. commercial 317  59  144  520  123,959    124,479  Commercial real estate (4) 409  81  77  567  69,199    69,766  Commercial lease financing 49  9  11  69  13,575    13,644  U.S. small business commercial (5) 107  63  356  526  17,034    17,560  Total commercial 1,709  500  918  3,127  580,803    583,930  Commercial loans accounted for under the fair value option (3) 5,432  5,432  Total commercial loans and leases 1,709  500  918  3,127  580,803  5,432  589,362  Total loans and leases (6) $ 3,544  $ 1,158  $ 2,836  $ 7,538  $ 1,032,438  $ 5,771  $ 1,045,747  Percentage of outstandings 0.34  % 0.11  % 0.27  % 0.72  % 98.73  % 0.55  % 100.00  % (1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $184 million and nonperforming loans of $155 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $75 million and nonperforming loans of $88 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $368 million and nonperforming loans of $788 million. Consumer real estate loans current or less than 30 days past due includes $1.6 billion, and direct/indirect consumer includes $27 million of nonperforming loans. (2)Total outstandings primarily includes auto and specialty lending loans and leases of $51.8 billion, U.S. securities-based lending loans of $50.4 billion and non-U.S. consumer loans of $3.0 billion. (3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $71 million and home equity loans of $268 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.9 billion and non-U.S. commercial loans of $2.5 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 $64.9 billion and non-U.S. commercial real estate loans of $4.8 billion. (5)Includes Paycheck Protection Program loans. (6)Total outstandings includes loans and leases pledged as collateral of $18.5 billion. The Corporation also pledged $163.6 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 March 31, 2023 and December 31, 2022. 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 to the Consolidated Financial Statements of the Corporation’s 2022 Annual Report on Form 10-K. Credit Quality Nonperforming Loans and Leases Accruing Past Due 90 Days or More (Dollars in millions) March 31 2023 December 31 2022 March 31 2023 December 31 2022 Residential mortgage (1) $ 2,125  $ 2,167  $ 338  $ 368  With no related allowance (2) 1,935  1,973  —  —  Home equity (1) 488  510  —  —  With no related allowance (2) 396  393  —  —  Credit Card                      n/a                     n/a 828  717  Direct/indirect consumer 101  77  2  2  Total consumer 2,714  2,754  1,168  1,087  U.S. commercial 559  553  112  190  Non-U.S. commercial 125  212  92  25  Commercial real estate 502  271  35  46  Commercial lease financing 4  4  6  8  U.S. small business commercial 14  14  261  355  Total commercial 1,204  1,054  506  624  Total nonperforming loans $ 3,918  $ 3,808  $ 1,674  $ 1,711  Percentage of outstanding loans and leases 0.38  % 0.37  % 0.16  % 0.16  % (1)Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At March 31, 2023 and December 31, 2022 residential mortgage included $232 million and $260 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 $106 million and $108 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	March 31, 2023. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of March 31,  2023 2023 2022 2021 2020 2019 Prior Residential Mortgage Refreshed LTV       Less than or equal to 90 percent $ 214,159  $ 3,115  $ 39,127  $ 79,059  $ 37,281  $ 18,552  $ 37,025  Greater than 90 percent but less than or equal to 100 percent 2,352  196  1,404  612  96  19  25  Greater than 100 percent 934  105  479  240  46  16  48  Fully-insured loans 11,382  44  464  3,624  3,033  924  3,293  Total Residential Mortgage $ 228,827  $ 3,460  $ 41,474  $ 83,535  $ 40,456  $ 19,511  $ 40,391  Residential Mortgage Refreshed FICO score Less than 620 $ 2,112  $ 21  $ 385  $ 519  $ 357  $ 109  $ 721  Greater than or equal to 620 and less than 680 4,885  68  1,082  1,266  818  327  1,324  Greater than or equal to 680 and less than 740 23,704  309  5,033  7,482  4,046  2,033  4,801  Greater than or equal to 740 186,744  3,018  34,510  70,644  32,202  16,118  30,252  Fully-insured loans 11,382  44  464  3,624  3,033  924  3,293  Total Residential Mortgage $ 228,827  $ 3,460  $ 41,474  $ 83,535  $ 40,456  $ 19,511  $ 40,391  Gross charge-offs $ 8  $ —  $ 3  $ 1  $ 1  $ —  $ 3  Home Equity - Credit Quality Indicators Total Home Equity Loans and Reverse Mortgages (1) Revolving Loans Revolving Loans Converted to Term Loans (Dollars in millions) March 31, 2023 Home Equity Refreshed LTV       Less than or equal to 90 percent $ 25,692  $ 1,238  $ 19,627  $ 4,827  Greater than 90 percent but less than or equal to 100 percent 72  21  35  16  Greater than 100 percent 104  36  38  30  Total Home Equity $ 25,868  $ 1,295  $ 19,700  $ 4,873  Home Equity Refreshed FICO score Less than 620 $ 677  $ 167  $ 197  $ 313  Greater than or equal to 620 and less than 680 1,138  144  504  490  Greater than or equal to 680 and less than 740 4,186  292  2,728  1,166  Greater than or equal to 740 19,867  692  16,271  2,904  Total Home Equity $ 25,868  $ 1,295  $ 19,700  $ 4,873  Gross charge-offs $ 6  $ 1  $ 3  $ 2  (1)Includes reverse mortgages of $893 million and home equity loans of $402 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 March 31, 2023 Revolving Loans 2023 2022 2021 2020 2019 Prior Total Credit Card as of March 31, 2023 Revolving Loans Revolving Loans Converted to Term Loans (1) Refreshed FICO score     Less than 620 $ 940  $ 12  $ 32  $ 308  $ 318  $ 113  $ 76  $ 81  $ 4,268  $ 4,052  $ 216  Greater than or equal to 620 and less than 680 2,463  11  245  1,022  707  225  121  132  10,732  10,526  206  Greater than or equal to 680 and less than 740 8,693  49  1,059  3,563  2,375  821  422  404  31,858  31,673  185  Greater than or equal to 740 40,766  77  5,101  15,273  10,501  4,837  2,527  2,450  45,611  45,566  45  Other internal credit    metrics (2,3) 51,678  50,942  52  181  191  63  59  190  —  —  —  Total credit card and other    consumer $ 104,540  $ 51,091  $ 6,489  $ 20,347  $ 14,092  $ 6,059  $ 3,205  $ 3,257  $ 92,469  $ 91,817  $ 652  Gross charge-offs $ 40  $ 1  $ —  $ 17  $ 11  $ 4  $ 2  $ 5  $ 650  $ 633  $ 17  (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 $50.9 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 March 31, 2023. Commercial – Credit Quality Indicators By Vintage (1) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of March 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans U.S. Commercial Risk ratings         Pass rated $ 350,224  $ 9,255  $ 55,496  $ 33,787  $ 17,310  $ 15,264  $ 37,296  $ 181,816  Reservable criticized 10,431  49  605  803  582  885  1,925  5,582  Total U.S. Commercial $ 360,655  $ 9,304  $ 56,101  $ 34,590  $ 17,892  $ 16,149  $ 39,221  $ 187,398  Gross charge-offs $ 59  $ —  $ 3  $ 18  $ —  $ —  $ 5  $ 33  Non-U.S. Commercial Risk ratings Pass rated $ 122,545  $ 4,204  $ 19,937  $ 18,102  $ 4,634  $ 3,736  $ 6,585  $ 65,347  Reservable criticized 2,282  81  144  321  277  254  225  980  Total Non-U.S. Commercial $ 124,827  $ 4,285  $ 20,081  $ 18,423  $ 4,911  $ 3,990  $ 6,810  $ 66,327  Gross charge-offs $ 23  $ —  $ —  $ 8  $ 7  $ 1  $ —  $ 7  Commercial Real Estate Risk ratings Pass rated $ 67,512  $ 1,856  $ 16,836  $ 13,350  $ 5,281  $ 8,861  $ 12,414  $ 8,914  Reservable criticized 5,539  —  11  829  538  1,737  2,217  207  Total Commercial Real Estate $ 73,051  $ 1,856  $ 16,847  $ 14,179  $ 5,819  $ 10,598  $ 14,631  $ 9,121  Gross charge-offs $ 24  $ —  $ —  $ —  $ —  $ 13  $ 11  $ —  Commercial Lease Financing Risk ratings Pass rated $ 13,227  $ 613  $ 3,208  $ 2,576  $ 1,775  $ 1,428  $ 3,627  $ —  Reservable criticized 221  —  20  43  17  36  105  —  Total Commercial Lease Financing $ 13,448  $ 613  $ 3,228  $ 2,619  $ 1,792  $ 1,464  $ 3,732  $ —  Gross charge-offs $ —  $ —  $ —  $ —  $ —  $ —  $ —  $ —  U.S. Small Business Commercial (2) Risk ratings Pass rated $ 8,653  $ 453  $ 1,806  $ 1,833  $ 1,209  $ 826  $ 2,401  $ 125  Reservable criticized 352  —  22  52  52  72  151  3  Total U.S. Small Business Commercial $ 9,005  $ 453  $ 1,828  $ 1,885  $ 1,261  $ 898  $ 2,552  $ 128  Gross charge-offs $ 13  $ —  $ —  $ —  $ 8  $ 1  $ 1  $ 3  Total $ 580,986  $ 16,511  $ 98,085  $ 71,696  $ 31,675  $ 33,099  $ 66,946  $ 262,974  Total gross charge-offs $ 119  $ —  $ 3  $ 26  $ 15  $ 15  $ 17  $ 43  (1) Excludes $4.1 billion of loans accounted for under the fair value option at March 31, 2023. (2)     Excludes U.S. Small Business Card loans of $9.2 billion. Refreshed FICO scores for this portfolio are $360 million for less than 620; $931 million for greater than or equal to 620 and less than 680; $2.5 billion for greater than or equal to 680 and less than 740; and $5.4 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $62 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, 2022. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of  December 31,  2022 2022 2021 2020 2019 2018 Prior Residential Mortgage Refreshed LTV Less than or equal to 90 percent $ 215,713  $ 39,625  $ 81,437  $ 37,228  $ 18,980  $ 5,734  $ 32,709  Greater than 90 percent but less than or equal to 100 percent 1,615  950  530  93  15  8  19  Greater than 100 percent 648  374  169  43  15  8  39  Fully-insured loans 11,694  580  3,667  3,102  949  156  3,240  Total Residential Mortgage $ 229,670  $ 41,529  $ 85,803  $ 40,466  $ 19,959  $ 5,906  $ 36,007  Residential Mortgage Refreshed FICO score Less than 620 $ 2,156  $ 377  $ 518  $ 373  $ 124  $ 84  $ 680  Greater than or equal to 620 and less than 680 4,978  1,011  1,382  840  329  233  1,183  Greater than or equal to 680 and less than 740 25,444  5,411  8,290  4,369  2,187  830  4,357  Greater than or equal to 740 185,398  34,150  71,946  31,782  16,370  4,603  26,547  Fully-insured loans 11,694  580  3,667  3,102  949  156  3,240  Total Residential Mortgage $ 229,670  $ 41,529  $ 85,803  $ 40,466  $ 19,959  $ 5,906  $ 36,007  Gross charge-offs $ 161  $ —  $ 6  $ 5  $ 6  $ 1  $ 143  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, 2022 Home Equity Refreshed LTV Less than or equal to 90 percent $ 26,395  $ 1,304  $ 19,960  $ 5,131  Greater than 90 percent but less than or equal to 100 percent 62  20  24  18  Greater than 100 percent 106  37  35  34  Total Home Equity $ 26,563  $ 1,361  $ 20,019  $ 5,183  Home Equity Refreshed FICO score Less than 620 $ 683  $ 166  $ 189  $ 328  Greater than or equal to 620 and less than 680 1,190  152  507  531  Greater than or equal to 680 and less than 740 4,321  312  2,747  1,262  Greater than or equal to 740 20,369  731  16,576  3,062  Total Home Equity $ 26,563  $ 1,361  $ 20,019  $ 5,183  Gross charge-offs $ 45  $ 5  $ 24  $ 16  (1)Includes reverse mortgages of $937 million and home equity loans of $424 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, 2022 Revolving Loans 2022 2021 2020 2019 2018 Prior Total Credit Card as of December 31, 2022 Revolving Loans Revolving Loans Converted to Term Loans (1) Refreshed FICO score Less than 620 $ 847  $ 12  $ 237  $ 301  $ 113  $ 84  $ 43  $ 57  $ 4,056  $ 3,866  $ 190  Greater than or equal to 620 and less than 680 2,521  12  1,108  816  269  150  69  97  10,994  10,805  189  Greater than or equal to 680 and less than 740 8,895  52  4,091  2,730  992  520  214  296  32,186  32,017  169  Greater than or equal to 740 39,679  83  16,663  11,392  5,630  2,992  1,236  1,683  46,185  46,142  43  Other internal credit    metrics (2, 3) 54,294  53,404  259  305  70  57  40  159  —  —  —  Total credit card and other    consumer $ 106,236  $ 53,563  $ 22,358  $ 15,544  $ 7,074  $ 3,803  $ 1,602  $ 2,292  $ 93,421  $ 92,830  $ 591  Gross charge-offs $ 232  $ 7  $ 31  $ 79  $ 34  $ 27  $ 14  $ 40  $ 1,985  $ 1,909  $ 76  (1)Represents TDRs that were modified into term loans. (2)Other internal credit metrics may include delinquency status, geography or other factors. (3)Direct/indirect consumer includes $53.4 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, 2022. Commercial – Credit Quality Indicators By Vintage (1) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of December 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans U.S. Commercial Risk ratings         Pass rated $ 348,447  $ 61,200  $ 39,717  $ 18,609  $ 16,566  $ 8,749  $ 30,282  $ 173,324  Reservable criticized 10,034  278  794  697  884  1,202  856  5,323  Total U.S. Commercial $ 358,481  $ 61,478  $ 40,511  $ 19,306  $ 17,450  $ 9,951  $ 31,138  $ 178,647  Gross charge-offs $ 151  $ 2  $ 24  $ 24  $ 9  $ 6  $ 13  $ 73  Non-U.S. Commercial Risk ratings Pass rated $ 121,890  $ 24,839  $ 19,098  $ 5,183  $ 3,882  $ 2,423  $ 4,697  $ 61,768  Reservable criticized 2,589  45  395  331  325  98  475  920  Total Non-U.S. Commercial $ 124,479  $ 24,884  $ 19,493  $ 5,514  $ 4,207  $ 2,521  $ 5,172  $ 62,688  Gross charge-offs $ 41  $ —  $ 3  $ 1  $ —  $ 37  $ —  $ —  Commercial Real Estate Risk ratings Pass rated $ 64,619  $ 15,290  $ 13,089  $ 5,756  $ 9,013  $ 4,384  $ 8,606  $ 8,481  Reservable criticized 5,147  11  837  545  1,501  1,151  1,017  85  Total Commercial Real Estate $ 69,766  $ 15,301  $ 13,926  $ 6,301  $ 10,514  $ 5,535  $ 9,623  $ 8,566  Gross charge-offs $ 75  $ —  $ —  $ 6  $ —  $ 26  $ 43  $ —  Commercial Lease Financing Risk ratings Pass rated $ 13,404  $ 3,255  $ 2,757  $ 1,955  $ 1,578  $ 1,301  $ 2,558  $ —  Reservable criticized 240  9  35  12  71  50  63  —  Total Commercial Lease Financing $ 13,644  $ 3,264  $ 2,792  $ 1,967  $ 1,649  $ 1,351  $ 2,621  $ —  Gross charge-offs $ 8  $ —  $ 4  $ —  $ 4  $ —  $ —  $ —  U.S. Small Business Commercial (2) Risk ratings Pass rated $ 8,726  $ 1,825  $ 1,953  $ 1,408  $ 864  $ 624  $ 1,925  $ 127  Reservable criticized 329  11  35  48  76  51  105  3  Total U.S. Small Business Commercial $ 9,055  $ 1,836  $ 1,988  $ 1,456  $ 940  $ 675  $ 2,030  $ 130  Gross charge-offs $ 31  $ —  $ 1  $ 11  $ 4  $ 1  $ 6  $ 8   Total $ 575,425  $ 106,763  $ 78,710  $ 34,544  $ 34,760  $ 20,033  $ 50,584  $ 250,031  Total gross charge-offs $ 306  $ 2  $ 32  $ 42  $ 17  $ 70  $ 62  $ 81  (1) Excludes $5.4 billion of loans accounted for under the fair value option at December 31, 2022. (2) Excludes U.S. Small Business Card loans of $8.5 billion. Refreshed FICO scores for this portfolio are $297 million for less than 620; $859 million for greater than or equal to 620 and less than 680; $2.4 billion for greater than or equal to 680 and less than 740; and $5.0 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $172 million.
Troubled Debt Restructurings on Financing Receivables	The table below provides aging information as of March 31, 2023 for consumer real estate loans modified since January 1, 2023. Consumer Real Estate - Payment Status of Modifications to Borrowers in Financial Difficulty (1) Current 30–89 Days Past Due 90+ Days Past Due Total (Dollars in millions) March 31, 2023 Residential mortgage $ 126  $ 49  $ 30  $ 205 Home equity 23  7  10  40 Total $ 149  $ 56  $ 40  $ 245 (1)Excludes trial modifications and Chapter 7 discharges. The following table presents the March 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 the three months ended March 31, 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 the Three Months Ended March 31, 2022 Unpaid Principal Balance Carrying Value Pre-Modification Interest Rate Post-Modification Interest Rate (1) (Dollars in millions) March 31, 2022 Residential mortgage $ 585  $ 539  3.50  % 3.33  % Home equity 92  75  3.62  3.63  Total $ 677  $ 614  3.52  3.37  (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 March 31, 2022 carrying value for consumer real estate loans that were modified in a TDR during the three months ended March 31, 2022, by type of modification. Consumer Real Estate – Modification Programs (Dollars in millions) TDRs Entered into During the Three Months Ended March 31, 2022 Modifications under proprietary programs 552  Loans discharged in Chapter 7 bankruptcy (1) 5  Trial modifications 57  Total modifications $ 614  (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 the three months ended March 31, 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) Three Months Ended March 31, 2022 Modifications under proprietary programs 40  Loans discharged in Chapter 7 bankruptcy (1) 1  Trial modifications (2) 4  Total modifications $ 45  (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 the March 31, 2022 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of loans that were modified in TDRs during the three months ended March 31, 2022. Credit Card and Other Consumer – TDRs Entered into During the Three Months Ended March 31, 2022   Unpaid Principal Balance Carrying Value (1) Pre-Modification Interest Rate Post-Modification Interest Rate (Dollars in millions) March 31, 2022 Credit card $ 69  $ 73  18.67  % 3.69  % Direct/Indirect consumer 4  3  5.75  5.75  Total $ 73  $ 76  18.03  3.77  (1)Includes accrued interest and fees. The table below presents the March 31, 2022 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during the three months ended March 31, 2022 by program type. Credit Card and Other Consumer – TDRs by Program Type (1) (Dollars in millions) TDRs Entered into During the Three Months Ended March 31, 2022 Internal programs $ 63  External programs 10  Other 3  Total $ 76  (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 table below. Consumer Real Estate Credit Card and  Other Consumer Commercial Total (Dollars in millions) Three Months Ended March 31, 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 (14) (861) (181) (1,056) Recoveries of loans and leases previously charged off 25  197  27  249  Net charge-offs 11  (664) (154) (807) Provision for loan and lease losses 34  913  (47) 900  Other 5  1  (24) (18) Allowance for loan and lease losses, March 31 403  6,958  5,153  12,514  Reserve for unfunded lending commitments, January 1 94  —  1,446  1,540  Provision for unfunded lending commitments (1) —  (102) (103) Reserve for unfunded lending commitments, March 31 93  —  1,344  1,437  Allowance for credit losses, March 31 $ 496  $ 6,958  $ 6,497  $ 13,951  Three Months Ended March 31, 2022 Allowance for loan and lease losses, January 1 $ 557  $ 6,476  $ 5,354  $ 12,387  Loans and leases charged off (23) (619) (92) (734) Recoveries of loans and leases previously charged off 63  239  40  342  Net charge-offs 40  (380) (52) (392) Provision for loan and lease losses (126) 146  88  108  Other 2  —  (1) 1  Allowance for loan and lease losses, March 31 473  6,242  5,389  12,104  Reserve for unfunded lending commitments, January 1 96  —  1,360  1,456  Provision for unfunded lending commitments (6) —  (72) (78) Other 1  —  —  1  Reserve for unfunded lending commitments, March 31 91  —  1,288  1,379  Allowance for credit losses, March 31 $ 564  $ 6,242  $ 6,677  $ 13,483