Outstanding Loans and Leases (Tables)
|
12 Months Ended |
Dec. 31, 2012
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Loans and Leases Receivable, Net of Deferred Income [Abstract] |
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Loans And Leases Outstanding [Table Text Block] |
The following tables present total outstanding loans and leases and an aging analysis for the Corporation’s Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at December 31, 2012 and 2011.
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December 31, 2012 |
(Dollars in millions) |
30-59 Days Past Due (1)
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60-89 Days Past Due (1)
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90 Days or More
Past Due (2)
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Total Past Due 30 Days
or More
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Total Current or Less Than 30 Days Past Due (3)
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Purchased Credit-impaired (4)
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Loans Accounted for Under the Fair Value Option |
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Total
Outstandings
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Home loans |
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Core portfolio |
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Residential mortgage (5)
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$ |
2,274 |
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$ |
806 |
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$ |
6,227 |
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$ |
9,307 |
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$ |
160,809 |
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$ |
170,116 |
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Home equity |
273 |
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146 |
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591 |
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1,010 |
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59,841 |
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60,851 |
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Legacy Assets & Servicing portfolio |
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Residential mortgage |
2,891 |
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1,696 |
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26,494 |
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31,081 |
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33,247 |
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$ |
8,737 |
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73,065 |
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Home equity |
607 |
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356 |
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1,444 |
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2,407 |
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36,191 |
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8,547 |
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47,145 |
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Discontinued real estate (6)
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48 |
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19 |
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234 |
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301 |
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757 |
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8,834 |
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9,892 |
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Credit card and other consumer |
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U.S. credit card |
729 |
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582 |
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1,437 |
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2,748 |
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92,087 |
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94,835 |
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Non-U.S. credit card |
106 |
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85 |
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212 |
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403 |
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11,294 |
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11,697 |
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Direct/Indirect consumer (7)
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569 |
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239 |
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573 |
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1,381 |
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81,824 |
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83,205 |
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Other consumer (8)
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48 |
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19 |
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4 |
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71 |
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1,557 |
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1,628 |
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Total consumer loans |
7,545 |
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3,948 |
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37,216 |
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48,709 |
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477,607 |
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26,118 |
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552,434 |
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Consumer loans accounted for under the fair value option (9)
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$ |
1,005 |
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1,005 |
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Total consumer |
7,545 |
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3,948 |
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37,216 |
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48,709 |
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477,607 |
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26,118 |
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1,005 |
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553,439 |
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Commercial |
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U.S. commercial |
323 |
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133 |
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639 |
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1,095 |
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196,031 |
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197,126 |
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Commercial real estate (10)
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79 |
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144 |
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983 |
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1,206 |
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37,431 |
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38,637 |
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Commercial lease financing |
84 |
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79 |
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30 |
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193 |
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23,650 |
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23,843 |
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Non-U.S. commercial |
2 |
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— |
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— |
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2 |
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74,182 |
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74,184 |
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U.S. small business commercial |
101 |
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75 |
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168 |
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344 |
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12,249 |
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12,593 |
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Total commercial loans |
589 |
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431 |
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1,820 |
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2,840 |
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343,543 |
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346,383 |
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Commercial loans accounted for under the fair value option (9)
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7,997 |
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7,997 |
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Total commercial |
589 |
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431 |
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1,820 |
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2,840 |
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343,543 |
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7,997 |
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354,380 |
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Total loans and leases |
$ |
8,134 |
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$ |
4,379 |
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$ |
39,036 |
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$ |
51,549 |
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$ |
821,150 |
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$ |
26,118 |
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$ |
9,002 |
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$ |
907,819 |
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Percentage of outstandings |
0.90 |
% |
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0.48 |
% |
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4.30 |
% |
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5.68 |
% |
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90.45 |
% |
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2.88 |
% |
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0.99 |
% |
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(1) |
Home loans 30-59 days past due includes $2.3 billion of fully-insured loans and $702 million of nonperforming loans. Home loans 60-89 days past due includes $1.3 billion of fully-insured loans and $558 million of nonperforming loans.
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(2) |
Home loans includes $22.2 billion of fully-insured loans.
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(3) |
Home loans includes $5.5 billion and direct/indirect consumer includes $63 million of nonperforming loans.
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(4) |
PCI loan amounts are shown gross of the valuation allowance. |
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(5) |
Total outstandings includes non-U.S. residential mortgage loans of $93 million.
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(6) |
Total outstandings includes $8.8 billion of pay option loans and $1.1 billion of subprime loans. The Corporation no longer originates these products.
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(7) |
Total outstandings includes dealer financial services loans of $35.9 billion, consumer lending loans of $4.7 billion, U.S. securities-based lending margin loans of $28.3 billion, student loans of $4.8 billion, non-U.S. consumer loans of $8.3 billion and other consumer loans of $1.2 billion.
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(8) |
Total outstandings includes consumer finance loans of $1.4 billion, other non-U.S. consumer loans of $5 million and consumer overdrafts of $177 million.
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(9) |
Consumer loans accounted for under the fair value option were residential mortgage loans of $147 million and discontinued real estate loans of $858 million. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.3 billion and non-U.S. commercial loans of $5.7 billion. For additional information, see Note 21 – Fair Value Measurements and Note 22 – Fair Value Option.
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(10) |
Total outstandings includes U.S. commercial real estate loans of $37.2 billion and non-U.S. commercial real estate loans of $1.5 billion.
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December 31, 2011 |
(Dollars in millions) |
30-59 Days Past Due (1)
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60-89 Days Past Due (1)
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90 Days or More Past Due (2)
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Total Past Due 30 Days or More |
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Total Current or Less Than 30 Days Past Due (3)
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Purchased Credit-impaired (4)
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Loans Accounted for Under the Fair Value Option |
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Total Outstandings |
Home loans |
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Core portfolio |
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Residential mortgage (5)
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$ |
2,151 |
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$ |
751 |
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$ |
3,017 |
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$ |
5,919 |
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$ |
172,418 |
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$ |
178,337 |
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Home equity |
260 |
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|
155 |
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|
429 |
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|
844 |
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66,211 |
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67,055 |
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Legacy Assets & Servicing portfolio |
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Residential mortgage |
3,195 |
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|
2,174 |
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|
32,167 |
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|
37,536 |
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|
36,451 |
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$ |
9,966 |
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|
83,953 |
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Home equity |
845 |
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|
508 |
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|
1,735 |
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|
3,088 |
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|
42,578 |
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|
11,978 |
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|
57,644 |
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Discontinued real estate (6)
|
65 |
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|
24 |
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|
351 |
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|
440 |
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|
798 |
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|
9,857 |
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11,095 |
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Credit card and other consumer |
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U.S. credit card |
981 |
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|
772 |
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|
2,070 |
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|
3,823 |
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|
98,468 |
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|
102,291 |
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Non-U.S. credit card |
148 |
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|
120 |
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|
342 |
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|
610 |
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|
13,808 |
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14,418 |
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Direct/Indirect consumer (7)
|
805 |
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|
338 |
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|
779 |
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|
1,922 |
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|
87,791 |
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|
89,713 |
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Other consumer (8)
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55 |
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21 |
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17 |
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|
93 |
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2,595 |
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|
2,688 |
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Total consumer loans |
8,505 |
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|
4,863 |
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|
40,907 |
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|
54,275 |
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|
521,118 |
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|
31,801 |
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|
607,194 |
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Consumer loans accounted for under the fair value option (9)
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$ |
2,190 |
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|
2,190 |
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Total consumer |
8,505 |
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|
4,863 |
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|
40,907 |
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|
54,275 |
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|
521,118 |
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|
31,801 |
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|
2,190 |
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|
609,384 |
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Commercial |
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U.S. commercial |
352 |
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|
166 |
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|
866 |
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|
1,384 |
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|
178,564 |
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|
179,948 |
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Commercial real estate (10)
|
288 |
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|
118 |
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|
1,860 |
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|
2,266 |
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|
37,330 |
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|
39,596 |
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Commercial lease financing |
78 |
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|
15 |
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22 |
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|
115 |
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|
21,874 |
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|
21,989 |
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Non-U.S. commercial |
24 |
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— |
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— |
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24 |
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|
55,394 |
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|
55,418 |
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U.S. small business commercial |
150 |
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|
106 |
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|
272 |
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|
528 |
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|
12,723 |
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|
13,251 |
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Total commercial loans |
892 |
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|
405 |
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|
3,020 |
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|
4,317 |
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|
305,885 |
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|
310,202 |
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Commercial loans accounted for under the fair value option (9)
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|
6,614 |
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|
6,614 |
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Total commercial |
892 |
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|
405 |
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|
3,020 |
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|
4,317 |
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|
305,885 |
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|
6,614 |
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|
316,816 |
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Total loans and leases |
$ |
9,397 |
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$ |
5,268 |
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$ |
43,927 |
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$ |
58,592 |
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$ |
827,003 |
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$ |
31,801 |
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$ |
8,804 |
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$ |
926,200 |
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Percentage of outstandings |
1.02 |
% |
|
0.57 |
% |
|
4.74 |
% |
|
6.33 |
% |
|
89.29 |
% |
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3.43 |
% |
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0.95 |
% |
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(1) |
Home loans 30-59 days past due includes $2.2 billion of fully-insured loans and $372 million of nonperforming loans. Home loans 60-89 days past due includes $1.4 billion of fully-insured loans and $398 million of nonperforming loans.
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(2) |
Home loans includes $21.2 billion of fully-insured loans.
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(3) |
Home loans includes $1.8 billion and direct/indirect consumer includes $7 million of nonperforming loans.
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(4) |
PCI loan amounts are shown gross of the valuation allowance. |
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(5) |
Total outstandings includes non-U.S. residential mortgage loans of $85 million.
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(6) |
Total outstandings includes $9.9 billion of pay option loans and $1.2 billion of subprime loans. The Corporation no longer originates these products.
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(7) |
Total outstandings includes dealer financial services loans of $43.0 billion, consumer lending loans of $8.0 billion, U.S. securities-based lending margin loans of $23.6 billion, student loans of $6.0 billion, non-U.S. consumer loans of $7.6 billion and other consumer loans of $1.5 billion.
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(8) |
Total outstandings includes consumer finance loans of $1.7 billion, other non-U.S. consumer loans of $929 million and consumer overdrafts of $103 million.
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(9) |
Consumer loans accounted for under the fair value option were residential mortgage loans of $906 million and discontinued real estate loans of $1.3 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.2 billion and non-U.S. commercial loans of $4.4 billion. For additional information, see Note 21 – Fair Value Measurements and Note 22 – Fair Value Option.
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(10) |
Total outstandings includes U.S. commercial real estate loans of $37.8 billion and non-U.S. commercial real estate loans of $1.8 billion.
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Schedule of Financing Receivables, Non Accrual Status [Table Text Block] |
The table below presents the Corporation’s nonperforming loans and leases including nonperforming TDRs and loans accruing past due 90 days or more at December 31, 2012 and 2011. 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. See Note 1 – Summary of Significant Accounting Principles for further information on the criteria for classification as nonperforming.
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Credit Quality |
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December 31 |
|
Nonperforming Loans and Leases (1)
|
|
Accruing Past Due
90 Days or More
|
(Dollars in millions) |
2012 |
|
2011 |
|
2012 |
|
2011 |
Home loans |
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|
|
|
|
|
|
|
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Core portfolio |
|
|
|
|
|
|
|
Residential mortgage (2)
|
$ |
3,190 |
|
|
$ |
2,414 |
|
|
$ |
3,984 |
|
|
$ |
883 |
|
Home equity |
1,265 |
|
|
439 |
|
|
— |
|
|
— |
|
Legacy Assets & Servicing portfolio |
|
|
|
|
|
|
|
|
|
|
Residential mortgage (2)
|
11,618 |
|
|
13,556 |
|
|
18,173 |
|
|
20,281 |
|
Home equity |
3,016 |
|
|
2,014 |
|
|
— |
|
|
— |
|
Discontinued real estate |
248 |
|
|
290 |
|
|
— |
|
|
— |
|
Credit card and other consumer |
|
|
|
|
|
|
|
|
|
U.S. credit card |
n/a |
|
|
n/a |
|
|
1,437 |
|
|
2,070 |
|
Non-U.S. credit card |
n/a |
|
|
n/a |
|
|
212 |
|
|
342 |
|
Direct/Indirect consumer |
92 |
|
|
40 |
|
|
545 |
|
|
746 |
|
Other consumer |
2 |
|
|
15 |
|
|
2 |
|
|
2 |
|
Total consumer |
19,431 |
|
|
18,768 |
|
|
24,353 |
|
|
24,324 |
|
Commercial |
|
|
|
|
|
|
|
|
|
|
|
U.S. commercial |
1,484 |
|
|
2,174 |
|
|
65 |
|
|
75 |
|
Commercial real estate |
1,513 |
|
|
3,880 |
|
|
29 |
|
|
7 |
|
Commercial lease financing |
44 |
|
|
26 |
|
|
15 |
|
|
14 |
|
Non-U.S. commercial |
68 |
|
|
143 |
|
|
— |
|
|
— |
|
U.S. small business commercial |
115 |
|
|
114 |
|
|
120 |
|
|
216 |
|
Total commercial |
3,224 |
|
|
6,337 |
|
|
229 |
|
|
312 |
|
Total consumer and commercial |
$ |
22,655 |
|
|
$ |
25,105 |
|
|
$ |
24,582 |
|
|
$ |
24,636 |
|
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(1) |
Nonperforming loan balances do not include nonaccruing TDRs removed from the PCI portfolio prior to January 1, 2010 of $521 million and $477 million at December 31, 2012 and 2011.
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(2) |
Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At December 31, 2012 and 2011, residential mortgage includes $17.8 billion and $17.0 billion of loans on which interest has been curtailed by the FHA, and therefore are no longer accruing interest, although principal is still insured, and $4.4 billion and $4.2 billion of loans on which interest is still accruing.
|
n/a = not applicable
|
Financing Receivable Credit Quality Indicators [Table Text Block] |
The following tables present certain credit quality indicators for the Corporation’s Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at December 31, 2012 and 2011.
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Loans – Credit Quality Indicators (1)
|
|
|
|
December 31, 2012 |
(Dollars in millions) |
Core Portfolio Residential
Mortgage (2)
|
|
Legacy Assets & Servicing Residential Mortgage (2)
|
|
Countrywide Residential Mortgage PCI |
|
Core Portfolio Home Equity (2)
|
|
Legacy Assets & Servicing Home Equity (2)
|
|
Countrywide Home Equity PCI |
|
Legacy Assets & Servicing Discontinued Real Estate (2)
|
|
Countrywide Discontinued Real Estate
PCI
|
Refreshed LTV (3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 90 percent |
$ |
80,585 |
|
|
$ |
19,904 |
|
|
$ |
3,516 |
|
|
$ |
44,971 |
|
|
$ |
15,907 |
|
|
$ |
2,050 |
|
|
$ |
719 |
|
|
$ |
5,093 |
|
Greater than 90 percent but less than 100 percent |
8,891 |
|
|
5,000 |
|
|
1,312 |
|
|
5,825 |
|
|
4,507 |
|
|
788 |
|
|
102 |
|
|
1,067 |
|
Greater than 100 percent |
12,984 |
|
|
16,226 |
|
|
3,909 |
|
|
10,055 |
|
|
18,184 |
|
|
5,709 |
|
|
237 |
|
|
2,674 |
|
Fully-insured loans (4)
|
67,656 |
|
|
23,198 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total home loans |
$ |
170,116 |
|
|
$ |
64,328 |
|
|
$ |
8,737 |
|
|
$ |
60,851 |
|
|
$ |
38,598 |
|
|
$ |
8,547 |
|
|
$ |
1,058 |
|
|
$ |
8,834 |
|
Refreshed FICO score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 620 |
$ |
6,366 |
|
|
$ |
13,900 |
|
|
$ |
3,249 |
|
|
$ |
2,586 |
|
|
$ |
5,408 |
|
|
$ |
1,930 |
|
|
$ |
429 |
|
|
$ |
5,471 |
|
Greater than or equal to 620 and less than 680 |
8,561 |
|
|
6,006 |
|
|
1,381 |
|
|
4,500 |
|
|
5,885 |
|
|
1,500 |
|
|
160 |
|
|
1,359 |
|
Greater than or equal to 680 and less than 740 |
25,141 |
|
|
8,411 |
|
|
1,886 |
|
|
12,625 |
|
|
10,387 |
|
|
2,278 |
|
|
206 |
|
|
1,106 |
|
Greater than or equal to 740 |
62,392 |
|
|
12,813 |
|
|
2,221 |
|
|
41,140 |
|
|
16,918 |
|
|
2,839 |
|
|
263 |
|
|
898 |
|
Fully-insured loans (4)
|
67,656 |
|
|
23,198 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total home loans |
$ |
170,116 |
|
|
$ |
64,328 |
|
|
$ |
8,737 |
|
|
$ |
60,851 |
|
|
$ |
38,598 |
|
|
$ |
8,547 |
|
|
$ |
1,058 |
|
|
$ |
8,834 |
|
|
|
(1) |
Excludes $1.0 billion of loans accounted for under the fair value option.
|
|
|
(2) |
Excludes Countrywide PCI loans. |
|
|
(3) |
Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance. |
|
|
(4) |
Credit quality indicators are not reported for fully-insured loans as principal repayment is insured. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit Card and Other Consumer – Credit Quality Indicators |
|
|
|
December 31, 2012 |
(Dollars in millions) |
U.S. Credit
Card
|
|
Non-U.S.
Credit Card
|
|
Direct/Indirect
Consumer
|
|
Other
Consumer (1)
|
Refreshed FICO score |
|
|
|
|
|
|
|
|
|
|
|
Less than 620 |
$ |
6,188 |
|
|
$ |
— |
|
|
$ |
1,896 |
|
|
$ |
668 |
|
Greater than or equal to 620 and less than 680 |
13,947 |
|
|
— |
|
|
3,367 |
|
|
301 |
|
Greater than or equal to 680 and less than 740 |
37,167 |
|
|
— |
|
|
9,592 |
|
|
232 |
|
Greater than or equal to 740 |
37,533 |
|
|
— |
|
|
25,164 |
|
|
212 |
|
Other internal credit metrics (2, 3, 4)
|
— |
|
|
11,697 |
|
|
43,186 |
|
|
215 |
|
Total credit card and other consumer |
$ |
94,835 |
|
|
$ |
11,697 |
|
|
$ |
83,205 |
|
|
$ |
1,628 |
|
|
|
(1) |
87 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited.
|
|
|
(2) |
Other internal credit metrics may include delinquency status, geography or other factors. |
|
|
(3) |
Direct/indirect consumer includes $36.5 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $4.8 billion of loans the Corporation no longer originates.
|
|
|
(4) |
Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At December 31, 2012, 97 percent of this portfolio was current or less than 30 days past due, one percent was 30-89 days past due and two percent was 90 days or more past due.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial – Credit Quality Indicators (1)
|
|
|
|
December 31, 2012 |
(Dollars in millions) |
U.S.
Commercial
|
|
Commercial
Real Estate
|
|
Commercial Lease
Financing
|
|
Non-U.S.
Commercial
|
|
U.S. Small Business
Commercial (2)
|
Risk ratings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass rated |
$ |
189,602 |
|
|
$ |
34,968 |
|
|
$ |
22,874 |
|
|
$ |
72,688 |
|
|
$ |
1,690 |
|
Reservable criticized |
7,524 |
|
|
3,669 |
|
|
969 |
|
|
1,496 |
|
|
573 |
|
Refreshed FICO score (3)
|
|
|
|
|
|
|
|
|
|
|
Less than 620 |
|
|
|
|
|
|
|
|
|
|
|
|
400 |
|
Greater than or equal to 620 and less than 680 |
|
|
|
|
|
|
|
|
580 |
|
Greater than or equal to 680 and less than 740 |
|
|
|
|
|
|
|
|
1,553 |
|
Greater than or equal to 740 |
|
|
|
|
|
|
|
|
2,496 |
|
Other internal credit metrics (3, 4)
|
|
|
|
|
|
|
|
|
5,301 |
|
Total commercial |
$ |
197,126 |
|
|
$ |
38,637 |
|
|
$ |
23,843 |
|
|
$ |
74,184 |
|
|
$ |
12,593 |
|
|
|
(1) |
Excludes $8.0 billion of loans accounted for under the fair value option.
|
|
|
(2) |
U.S. small business commercial includes $366 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At December 31, 2012, 98 percent of the balances where internal credit metrics are used were current or less than 30 days past due.
|
|
|
(3) |
Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio. |
|
|
(4) |
Other internal credit metrics may include delinquency status, application scores, geography or other factors. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Loans – Credit Quality Indicators (1)
|
|
|
|
December 31, 2011 |
(Dollars in millions) |
Core Portfolio Residential
Mortgage (2)
|
|
Legacy Assets & Servicing Residential Mortgage (2)
|
|
Countrywide Residential Mortgage PCI |
|
Core Portfolio Home Equity (2)
|
|
Legacy Assets & Servicing Home Equity (2)
|
|
Countrywide Hone Equity PCI |
|
Legacy Assets & Servicing Discontinued Real Estate (2)
|
|
Countrywide Discontinued Real Estate
PCI
|
Refreshed LTV (3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 90 percent |
$ |
80,032 |
|
|
$ |
20,450 |
|
|
$ |
3,821 |
|
|
$ |
46,646 |
|
|
$ |
17,354 |
|
|
$ |
2,253 |
|
|
$ |
895 |
|
|
$ |
5,953 |
|
Greater than 90 percent but less than 100 percent |
11,838 |
|
|
5,847 |
|
|
1,468 |
|
|
6,988 |
|
|
4,995 |
|
|
1,077 |
|
|
122 |
|
|
1,191 |
|
Greater than 100 percent |
17,673 |
|
|
22,630 |
|
|
4,677 |
|
|
13,421 |
|
|
23,317 |
|
|
8,648 |
|
|
221 |
|
|
2,713 |
|
Fully-insured loans (4)
|
68,794 |
|
|
25,060 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total home loans |
$ |
178,337 |
|
|
$ |
73,987 |
|
|
$ |
9,966 |
|
|
$ |
67,055 |
|
|
$ |
45,666 |
|
|
$ |
11,978 |
|
|
$ |
1,238 |
|
|
$ |
9,857 |
|
Refreshed FICO score (5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 620 |
$ |
7,020 |
|
|
$ |
17,337 |
|
|
$ |
3,924 |
|
|
$ |
2,843 |
|
|
$ |
7,293 |
|
|
$ |
4,140 |
|
|
$ |
548 |
|
|
$ |
6,275 |
|
Greater than or equal to 620 and less than 680 |
9,331 |
|
|
6,537 |
|
|
1,381 |
|
|
4,704 |
|
|
6,866 |
|
|
1,969 |
|
|
175 |
|
|
1,279 |
|
Greater than or equal to 680 and less than 740 |
26,569 |
|
|
9,439 |
|
|
2,036 |
|
|
13,561 |
|
|
11,798 |
|
|
2,538 |
|
|
228 |
|
|
1,223 |
|
Greater than or equal to 740 |
66,623 |
|
|
15,614 |
|
|
2,625 |
|
|
45,947 |
|
|
19,709 |
|
|
3,331 |
|
|
287 |
|
|
1,080 |
|
Fully-insured loans (4)
|
68,794 |
|
|
25,060 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total home loans |
$ |
178,337 |
|
|
$ |
73,987 |
|
|
$ |
9,966 |
|
|
$ |
67,055 |
|
|
$ |
45,666 |
|
|
$ |
11,978 |
|
|
$ |
1,238 |
|
|
$ |
9,857 |
|
|
|
(1) |
Excludes $2.2 billion of loans accounted for under the fair value option.
|
|
|
(2) |
Excludes Countrywide PCI loans. |
|
|
(3) |
Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance. |
|
|
(4) |
Credit quality indicators are not reported for fully-insured loans as principal repayment is insured. |
|
|
(5) |
During 2012, refreshed home equity FICO metrics reflected an updated scoring model that is more representative of the credit risk of the Corporation’s borrowers. Prior period amounts were adjusted to reflect these updates. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit Card and Other Consumer – Credit Quality Indicators |
|
|
|
December 31, 2011 |
(Dollars in millions) |
U.S. Credit
Card
|
|
Non-U.S.
Credit Card
|
|
Direct/Indirect
Consumer
|
|
Other
Consumer (1)
|
Refreshed FICO score |
|
|
|
|
|
|
|
|
|
|
|
Less than 620 |
$ |
8,172 |
|
|
$ |
— |
|
|
$ |
3,325 |
|
|
$ |
802 |
|
Greater than or equal to 620 and less than 680 |
15,474 |
|
|
— |
|
|
4,665 |
|
|
348 |
|
Greater than or equal to 680 and less than 740 |
39,525 |
|
|
— |
|
|
12,351 |
|
|
262 |
|
Greater than or equal to 740 |
39,120 |
|
|
— |
|
|
29,965 |
|
|
244 |
|
Other internal credit metrics (2, 3, 4)
|
— |
|
|
14,418 |
|
|
39,407 |
|
|
1,032 |
|
Total credit card and other consumer |
$ |
102,291 |
|
|
$ |
14,418 |
|
|
$ |
89,713 |
|
|
$ |
2,688 |
|
|
|
(1) |
96 percent of the other consumer portfolio is associated with portfolios from certain consumer finance businesses that the Corporation previously exited.
|
|
|
(2) |
Other internal credit metrics may include delinquency status, geography or other factors. |
|
|
(3) |
Direct/indirect consumer includes $31.1 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $6.0 billion of loans the Corporation no longer originates.
|
|
|
(4) |
Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At December 31, 2011, 96 percent of this portfolio was current or less than 30 days past due, two percent was 30-89 days past due and two percent was 90 days or more past due.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial – Credit Quality Indicators (1)
|
|
|
|
December 31, 2011 |
(Dollars in millions) |
U.S.
Commercial
|
|
Commercial
Real Estate
|
|
Commercial Lease
Financing
|
|
Non-U.S.
Commercial
|
|
U.S. Small Business
Commercial (2)
|
Risk ratings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass rated |
$ |
169,599 |
|
|
$ |
28,602 |
|
|
$ |
20,850 |
|
|
$ |
53,945 |
|
|
$ |
2,392 |
|
Reservable criticized |
10,349 |
|
|
10,994 |
|
|
1,139 |
|
|
1,473 |
|
|
836 |
|
Refreshed FICO score (3)
|
|
|
|
|
|
|
|
|
|
Less than 620 |
|
|
|
|
|
|
|
|
562 |
|
Greater than or equal to 620 and less than 680 |
|
|
|
|
|
|
|
|
624 |
|
Greater than or equal to 680 and less than 740 |
|
|
|
|
|
|
|
|
1,612 |
|
Greater than or equal to 740 |
|
|
|
|
|
|
|
|
2,438 |
|
Other internal credit metrics (3, 4)
|
|
|
|
|
|
|
|
|
4,787 |
|
Total commercial |
$ |
179,948 |
|
|
$ |
39,596 |
|
|
$ |
21,989 |
|
|
$ |
55,418 |
|
|
$ |
13,251 |
|
|
|
(1) |
Excludes $6.6 billion of loans accounted for under the fair value option.
|
|
|
(2) |
U.S. small business commercial includes $491 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At December 31, 2011, 97 percent of the balances where internal credit metrics are used were current or less than 30 days past due.
|
|
|
(3) |
Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio. |
|
|
(4) |
Other internal credit metrics may include delinquency status, application scores, geography or other factors. |
|
Impaired Financing Receivables [Table Text Block] |
The table below presents impaired loans in the Corporation’s Home Loans portfolio segment at and for the years ended December 31, 2012 and 2011 and includes primarily loans managed by Legacy Assets & Servicing. Certain impaired home loans do not have a related allowance as the current valuation of these impaired loans exceeded the carrying value.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impaired Loans – Home Loans |
|
|
|
|
|
December 31, 2012 |
|
2012 |
(Dollars in millions) |
Unpaid Principal
Balance
|
|
Carrying
Value
|
|
Related
Allowance
|
|
Average Carrying
Value
|
|
Interest Income
Recognized (1)
|
With no recorded allowance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
$ |
19,758 |
|
|
$ |
14,707 |
|
|
n/a |
|
|
$ |
10,697 |
|
|
$ |
358 |
|
Home equity |
2,624 |
|
|
1,103 |
|
|
n/a |
|
|
734 |
|
|
49 |
|
Discontinued real estate |
468 |
|
|
260 |
|
|
n/a |
|
|
240 |
|
|
8 |
|
With an allowance recorded |
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
14,080 |
|
|
13,051 |
|
|
$ |
1,233 |
|
|
11,439 |
|
|
417 |
|
Home equity |
1,256 |
|
|
1,022 |
|
|
448 |
|
|
1,145 |
|
|
44 |
|
Discontinued real estate |
143 |
|
|
107 |
|
|
19 |
|
|
136 |
|
|
6 |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
$ |
33,838 |
|
|
$ |
27,758 |
|
|
$ |
1,233 |
|
|
$ |
22,136 |
|
|
$ |
775 |
|
Home equity |
3,880 |
|
|
2,125 |
|
|
448 |
|
|
1,879 |
|
|
93 |
|
Discontinued real estate |
611 |
|
|
367 |
|
|
19 |
|
|
376 |
|
|
14 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2011 |
|
2011 |
With no recorded allowance |
|
|
|
|
|
|
|
|
|
Residential mortgage |
$ |
10,907 |
|
|
$ |
8,168 |
|
|
n/a |
|
|
$ |
6,285 |
|
|
$ |
233 |
|
Home equity |
1,747 |
|
|
479 |
|
|
n/a |
|
|
442 |
|
|
23 |
|
Discontinued real estate |
421 |
|
|
240 |
|
|
n/a |
|
|
222 |
|
|
8 |
|
With an allowance recorded |
|
|
|
|
|
|
|
|
|
Residential mortgage |
12,296 |
|
|
11,119 |
|
|
$ |
1,295 |
|
|
9,379 |
|
|
319 |
|
Home equity |
1,551 |
|
|
1,297 |
|
|
622 |
|
|
1,357 |
|
|
34 |
|
Discontinued real estate |
213 |
|
|
159 |
|
|
29 |
|
|
173 |
|
|
6 |
|
Total |
|
|
|
|
|
|
|
|
|
Residential mortgage |
$ |
23,203 |
|
|
$ |
19,287 |
|
|
$ |
1,295 |
|
|
$ |
15,664 |
|
|
$ |
552 |
|
Home equity |
3,298 |
|
|
1,776 |
|
|
622 |
|
|
1,799 |
|
|
57 |
|
Discontinued real estate |
634 |
|
|
399 |
|
|
29 |
|
|
395 |
|
|
14 |
|
|
|
(1) |
Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the principal is considered collectible. |
n/a = not applicable
|
Accretable Yield Activity [Table Text Block] |
The table below shows activity for the accretable yield on Countrywide consumer PCI loans. Reclassifications from nonaccretable difference primarily result when there is a change in expected cash flows due to various factors, including changes in interest rates on variable-rate loans and prepayment assumptions. Changes in the prepayment assumption affect the expected remaining life of the portfolio which results in a change to the amount of future interest cash flows.
|
|
|
|
|
|
|
|
Rollforward of Accretable Yield |
|
|
|
(Dollars in millions) |
|
|
Accretable yield, January 1, 2011 |
$ |
5,481 |
|
Accretion |
(1,285 |
) |
Disposals/transfers |
(118 |
) |
Reclassifications from nonaccretable difference |
912 |
|
Accretable yield, December 31, 2011 |
4,990 |
|
Accretion |
(1,034 |
) |
Disposals/transfers |
(109 |
) |
Reclassifications from nonaccretable difference |
797 |
|
Accretable yield, December 31, 2012 |
$ |
4,644 |
|
|
Residential Mortgage [Member]
|
|
Loans and Leases Receivable, Net of Deferred Income [Abstract] |
|
Remaining Unpaid Principal Balance, Carrying Amount And Excluding Valuation Reserve [Table Text Block] |
The table below presents the December 31, 2012 and 2011 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of home loans that were modified in TDRs during 2012 and 2011, and net charge-offs that were recorded during the period in which the modification occurred. The following Home Loans 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. These TDRs are managed by Legacy Assets & Servicing.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Loans – TDRs Entered into During 2012 and 2011 (1)
|
|
|
|
December 31, 2012 |
|
2012 |
(Dollars in millions) |
Unpaid Principal Balance |
|
Carrying Value |
|
Pre-modification Interest Rate |
|
Post-modification Interest Rate |
|
Net Charge-offs |
Residential mortgage |
$ |
14,929 |
|
|
$ |
12,143 |
|
|
5.52 |
% |
|
4.70 |
% |
|
$ |
507 |
|
Home equity |
1,721 |
|
|
858 |
|
|
5.22 |
|
|
4.39 |
|
|
716 |
|
Discontinued real estate |
159 |
|
|
85 |
|
|
5.21 |
|
|
4.35 |
|
|
16 |
|
Total |
$ |
16,809 |
|
|
$ |
13,086 |
|
|
5.49 |
|
|
4.66 |
|
|
$ |
1,239 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2011 |
|
2011 |
Residential mortgage |
$ |
11,623 |
|
|
$ |
9,903 |
|
|
5.94 |
% |
|
5.16 |
% |
|
$ |
299 |
|
Home equity |
1,112 |
|
|
556 |
|
|
6.58 |
|
|
5.25 |
|
|
239 |
|
Discontinued real estate |
141 |
|
|
88 |
|
|
6.68 |
|
|
5.08 |
|
|
9 |
|
Total |
$ |
12,876 |
|
|
$ |
10,547 |
|
|
6.01 |
|
|
5.17 |
|
|
$ |
547 |
|
|
|
(1) |
TDRs entered into during 2012 include principal forgiveness as follows: residential mortgage modifications of $755 million, home equity modifications of $9 million and discontinued real estate modifications of $23 million. Prior to 2012, the principal forgiveness amount was not significant.
|
|
Summary of Troubled Debt Restructuring Note, Debtor [Table Text Block] |
The table below presents the December 31, 2012 and 2011 carrying value for home loans that were modified in TDRs during 2012 and 2011 by type of modification.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Loans – Modification Programs |
|
|
|
TDRs Entered into During 2012 |
(Dollars in millions) |
Residential Mortgage |
|
Home Equity |
|
Discontinued Real Estate |
|
Total Carrying Value |
Modifications under government programs |
|
|
|
|
|
|
|
Contractual interest rate reduction |
$ |
638 |
|
|
$ |
78 |
|
|
$ |
4 |
|
|
$ |
720 |
|
Principal and/or interest forbearance |
49 |
|
|
31 |
|
|
2 |
|
|
82 |
|
Other modifications (1)
|
37 |
|
| |