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

v3.22.4

Outstanding Loans and Leases and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of Loans and Leases Outstanding	The following tables present total outstanding loans and leases and an aging analysis for the Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at December 31, 2022 and 2021. 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 20 – Fair Value Measurements and Note 21 – 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. 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, 2021 Consumer real estate             Residential mortgage $ 1,005  $ 297  $ 1,571  $ 2,873  $ 219,090  $ 221,963  Home equity 123  69  369  561  27,374  27,935  Credit card and other consumer           Credit card 298  212  487  997  80,441    81,438  Direct/Indirect consumer (2) 147  52  18  217  103,343    103,560  Other consumer  —  —  —  —  190    190  Total consumer 1,573  630  2,445  4,648  430,438  435,086  Consumer loans accounted for under the fair value option (3) $ 618  618  Total consumer loans and leases 1,573  630  2,445  4,648  430,438  618  435,704  Commercial               U.S. commercial 815  308  396  1,519  324,417    325,936  Non-U.S. commercial 148  20  83  251  113,015    113,266  Commercial real estate (4) 115  34  285  434  62,575    63,009  Commercial lease financing 104  28  13  145  14,680    14,825  U.S. small business commercial (5) 129  259  89  477  18,706    19,183  Total commercial 1,311  649  866  2,826  533,393    536,219  Commercial loans accounted for under the fair value option (3) 7,201  7,201  Total commercial loans and leases 1,311  649  866  2,826  533,393  7,201  543,420  Total loans and leases (6) $ 2,884  $ 1,279  $ 3,311  $ 7,474  $ 963,831  $ 7,819  $ 979,124  Percentage of outstandings 0.29  % 0.13  % 0.34  % 0.76  % 98.44  % 0.80  % 100.00  % (1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $164 million and nonperforming loans of $118 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $89 million and nonperforming loans of $100 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $633 million and nonperforming loans of $1.3 billion. Consumer real estate loans current or less than 30 days past due includes $1.4 billion, and direct/indirect consumer includes $55 million of nonperforming loans. (2)Total outstandings primarily includes auto and specialty lending loans and leases of $48.5 billion, U.S. securities-based lending loans of $51.1 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 $279 million and home equity loans of $339 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $4.6 billion and non-U.S. commercial loans of $2.6 billion. For more information, see Note 20 – Fair Value Measurements and Note 21 – Fair Value Option. (4)Total outstandings includes U.S. commercial real estate loans of $58.2 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 $13.0 billion. The Corporation also pledged $146.6 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, including nonperforming TDRs, and loans accruing past due 90 days or more at December 31, 2022 and 2021. Nonperforming LHFS are excluded from nonperforming loans and leases as they are recorded at either fair value or the lower of cost or fair value. For more information on the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles. Credit Quality Nonperforming Loans and Leases Accruing Past Due 90 Days or More December 31 (Dollars in millions) 2022 2021 2022 2021 Residential mortgage (1) $ 2,167  $ 2,284  $ 368  $ 634  With no related allowance (2) 1,973  1,950  —  —  Home equity (1) 510  630  —  —  With no related allowance (2) 393  414  —  —  Credit Card                      n/a                     n/a 717  487  Direct/indirect consumer 77  75  2  11  Total consumer 2,754  2,989  1,087  1,132  U.S. commercial 553  825  190  171  Non-U.S. commercial 212  268  25  19  Commercial real estate 271  382  46  40  Commercial lease financing 4  80  8  8  U.S. small business commercial 14  23  355  87  Total commercial 1,054  1,578  624  325  Total nonperforming loans $ 3,808  $ 4,567  $ 1,711  $ 1,457  Percentage of outstanding loans and leases 0.37  % 0.47  % 0.16  % 0.15  % (1)Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At December 31, 2022 and 2021 residential mortgage included $260 million and $444 million of loans on which interest had been curtailed by the FHA, and therefore were no longer accruing interest, although principal was still insured, and $108 million and $190 million of loans on which interest was still accruing. (2)Primarily relates to loans for which the estimated fair value of the underlying collateral less any costs to sell is greater than the amortized cost of the loans as of the reporting date. n/a = not applicable
Financing Receivable Credit Quality Indicators	The following tables present certain credit quality indicators and gross charge-offs for the Corporation's Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments by year of origination, except for revolving loans and revolving loans that were modified into term loans, which are shown on an aggregate basis at December 31, 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. 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, 2021. Residential Mortgage – Credit Quality Indicators By Vintage Term Loans by Origination Year (Dollars in millions) Total as of  December 31,  2021 2021 2020 2019 2018 2017 Prior Residential Mortgage Refreshed LTV Less than or equal to 90 percent $ 206,562  $ 87,051  $ 43,597  $ 23,205  $ 7,392  $ 10,956  $ 34,361  Greater than 90 percent but less than or equal to 100 percent 1,938  1,401  331  81  17  14  94  Greater than 100 percent 759  520  112  29  11  12  75  Fully-insured loans 12,704  3,845  3,486  1,150  216  235  3,772  Total Residential Mortgage $ 221,963  $ 92,817  $ 47,526  $ 24,465  $ 7,636  $ 11,217  $ 38,302  Residential Mortgage Refreshed FICO score Less than 620 $ 2,451  $ 636  $ 442  $ 140  $ 120  $ 104  $ 1,009  Greater than or equal to 620 and less than 680 5,199  1,511  1,123  477  294  307  1,487  Greater than or equal to 680 and less than 740 24,532  8,822  5,454  2,785  1,057  1,434  4,980  Greater than or equal to 740 177,077  78,003  37,021  19,913  5,949  9,137  27,054  Fully-insured loans 12,704  3,845  3,486  1,150  216  235  3,772  Total Residential Mortgage $ 221,963  $ 92,817  $ 47,526  $ 24,465  $ 7,636  $ 11,217  $ 38,302  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, 2021 Home Equity Refreshed LTV Less than or equal to 90 percent $ 27,594  $ 1,773  $ 19,095  $ 6,726  Greater than 90 percent but less than or equal to 100 percent 130  55  34  41  Greater than 100 percent 211  85  54  72  Total Home Equity $ 27,935  $ 1,913  $ 19,183  $ 6,839  Home Equity Refreshed FICO score Less than 620 $ 893  $ 244  $ 209  $ 440  Greater than or equal to 620 and less than 680 1,434  222  495  717  Greater than or equal to 680 and less than 740 4,625  468  2,493  1,664  Greater than or equal to 740 20,983  979  15,986  4,018  Total Home Equity $ 27,935  $ 1,913  $ 19,183  $ 6,839  (1)Includes reverse mortgages of $1.3 billion and home equity loans of $582 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, 2021 Revolving Loans 2021 2020 2019 2018 2017 Prior Total Credit Card as of December 31, 2021 Revolving Loans Revolving Loans Converted to Term Loans (1) Refreshed FICO score Less than 620 $ 685  $ 13  $ 179  $ 115  $ 129  $ 79  $ 101  $ 69  $ 3,017  $ 2,857  $ 160  Greater than or equal to 620 and less than 680 2,313  14  1,170  414  313  148  134  120  9,264  9,064  200  Greater than or equal to 680 and less than 740 8,530  60  4,552  1,659  1,126  466  314  353  28,347  28,155  192  Greater than or equal to 740 37,164  94  15,876  8,642  6,465  2,679  1,573  1,835  40,810  40,762  48  Other internal credit    metrics (2, 3) 54,868  54,173  283  53  77  75  63  144  —  —  —  Total credit card and other    consumer $ 103,560  $ 54,354  $ 22,060  $ 10,883  $ 8,110  $ 3,447  $ 2,185  $ 2,521  $ 81,438  $ 80,838  $ 600  (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 $54.2 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, 2021. Commercial – Credit Quality Indicators By Vintage (1) Term Loans Amortized Cost Basis by Origination Year (Dollars in millions) Total as of December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans U.S. Commercial Risk ratings         Pass rated $ 315,618  $ 55,862  $ 25,012  $ 23,373  $ 11,439  $ 10,426  $ 23,877  $ 165,629  Reservable criticized 10,318  598  687  1,308  1,615  514  1,072  4,524  Total U.S. Commercial $ 325,936  $ 56,460  $ 25,699  $ 24,681  $ 13,054  $ 10,940  $ 24,949  $ 170,153  Non-U.S. Commercial Risk ratings Pass rated $ 110,787  $ 25,749  $ 8,703  $ 7,133  $ 4,521  $ 3,016  $ 3,062  $ 58,603  Reservable criticized 2,479  223  324  487  275  257  216  697  Total Non-U.S. Commercial $ 113,266  $ 25,972  $ 9,027  $ 7,620  $ 4,796  $ 3,273  $ 3,278  $ 59,300  Commercial Real Estate Risk ratings Pass rated $ 55,511  $ 14,402  $ 7,244  $ 11,237  $ 5,710  $ 3,326  $ 6,831  $ 6,761  Reservable criticized 7,498  277  990  2,237  1,710  596  1,464  224  Total Commercial Real Estate $ 63,009  $ 14,679  $ 8,234  $ 13,474  $ 7,420  $ 3,922  $ 8,295  $ 6,985  Commercial Lease Financing Risk ratings Pass rated $ 14,438  $ 3,280  $ 2,485  $ 2,427  $ 2,030  $ 1,741  $ 2,475  $ —  Reservable criticized 387  25  18  91  67  48  138  —  Total Commercial Lease Financing $ 14,825  $ 3,305  $ 2,503  $ 2,518  $ 2,097  $ 1,789  $ 2,613  $ —  U.S. Small Business Commercial (2) Risk ratings Pass rated $ 11,618  $ 4,257  $ 2,922  $ 1,059  $ 763  $ 623  $ 1,853  $ 141  Reservable criticized 433  12  29  91  87  64  147  3  Total U.S. Small Business Commercial $ 12,051  $ 4,269  $ 2,951  $ 1,150  $ 850  $ 687  $ 2,000  $ 144   Total $ 529,087  $ 104,685  $ 48,414  $ 49,443  $ 28,217  $ 20,611  $ 41,135  $ 236,582  (1) Excludes $7.2 billion of loans accounted for under the fair value option at December 31, 2021. (2) Excludes U.S. Small Business Card loans of $7.1 billion. Refreshed FICO scores for this portfolio are $192 million for less than 620; $618 million for greater than or equal to 620 and less than 680; $1.9 billion for greater than or equal to 680 and less than 740; and $4.4 billion greater than or equal to 740.
Troubled Debt Restructurings on Financing Receivables	The table below presents the December 31, 2022, 2021 and 2020 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of consumer real estate loans that were modified in TDRs during 2022, 2021 and 2020. 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. Consumer Real Estate – TDRs Entered into During 2022, 2021 and 2020 Unpaid Principal Balance Carrying Value Pre-Modification Interest Rate Post-Modification Interest Rate (1) (Dollars in millions) December 31, 2022 Residential mortgage $ 1,144  $ 1,015  3.52  % 3.40  % Home equity 238  191  4.61  4.65  Total $ 1,382  $ 1,206  3.71  3.62  December 31, 2021 Residential mortgage $ 891  $ 788  3.48  % 3.38  % Home equity 107  77  3.60  3.59  Total $ 998  $ 865  3.49  3.41  December 31, 2020 Residential mortgage $ 732  $ 646  3.66  % 3.59  % Home equity 87  69  3.67  3.61  Total $ 819  $ 715  3.66  3.59  (1)The post-modification interest rate reflects the interest rate applicable only to permanently completed modifications, which exclude loans that are in a trial modification period. The table below presents the December 31, 2022, 2021 and 2020 carrying value for consumer real estate loans that were modified in a TDR during 2022, 2021 and 2020, by type of modification. Consumer Real Estate – Modification Programs TDRs Entered into During (Dollars in millions) 2022 2021 2020 Modifications under government programs $ 2  $ 4  $ 13  Modifications under proprietary programs 1,100  774  570  Loans discharged in Chapter 7 bankruptcy (1) 14  33  53  Trial modifications 90  54  79  Total modifications $ 1,206  $ 865  $ 715  (1)Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs. The following table presents the carrying value of consumer real estate loans that entered into payment default during 2022, 2021 and 2020 that were modified in a TDR during the 12 months preceding payment default. A payment default for consumer real estate TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification. Consumer Real Estate – TDRs Entering Payment Default that were Modified During the Preceding 12 Months (Dollars in millions) 2022 2021 2020 Modifications under government programs $ —  $ 4  $ 16  Modifications under proprietary programs 189  128  51  Loans discharged in Chapter 7 bankruptcy (1) 2  9  19  Trial modifications (2) 25  19  54  Total modifications $ 216  $ 160  $ 140  (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 December 31, 2022, 2021 and 2020 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of loans that were modified in TDRs during 2022, 2021 and 2020. Credit Card and Other Consumer – TDRs Entered into During 2022, 2021 and 2020   Unpaid Principal Balance Carrying Value (1) Pre-Modification Interest Rate Post-Modification Interest Rate (Dollars in millions) December 31, 2022 Credit card $ 284  $ 293  22.34  % 3.89  % Direct/Indirect consumer 6  5  5.51  5.50  Total $ 290  $ 298  22.06  3.92  December 31, 2021 Credit card $ 237  $ 248  18.45  % 4.09  % Direct/Indirect consumer 23  16  5.88  5.88  Total $ 260  $ 264  17.68  4.20  December 31, 2020 Credit card $ 269  $ 277  18.16  % 5.63  % Direct/Indirect consumer 52  37  5.83  5.83  Total $ 321  $ 314  16.70  5.65  (1)Includes accrued interest and fees. The table below presents the December 31, 2022, 2021 and 2020 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during 2022, 2021 and 2020 by program type. Credit Card and Other Consumer – TDRs by Program Type at December 31 (1) (Dollars in millions) 2022 2021 2020 Internal programs $ 251  $ 214  $ 225  External programs 44  44  73  Other 3  6  16  Total $ 298  $ 264  $ 314  (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) 2022 Allowance for loan and lease losses, January 1 $ 557  $ 6,476  $ 5,354  $ 12,387  Loans and leases charged off (206) (2,755) (478) (3,439) Recoveries of loans and leases previously charged off 224  882  161  1,267  Net charge-offs 18  (1,873) (317) (2,172) Provision for loan and lease losses (164) 2,215  409  2,460  Other 9  (1) (1) 7  Allowance for loan and lease losses, December 31 420  6,817  5,445  12,682  Reserve for unfunded lending commitments, January 1 96  —  1,360  1,456  Provision for unfunded lending commitments (3) —  86  83  Other 1  —  —  1  Reserve for unfunded lending commitments, December 31 94  —  1,446  1,540  Allowance for credit losses, December 31 $ 514  $ 6,817  $ 6,891  $ 14,222  2021 Allowance for loan and lease losses, January 1 $ 858  $ 9,213  $ 8,731  $ 18,802  Loans and leases charged off (78) (3,000) (719) (3,797) Recoveries of loans and leases previously charged off 225  1,006  323  1,554  Net charge-offs 147  (1,994) (396) (2,243) Provision for loan and lease losses (449) (744) (2,980) (4,173) Other 1  1  (1) 1  Allowance for loan and lease losses, December 31 557  6,476  5,354  12,387  Reserve for unfunded lending commitments, January 1 137  —  1,741  1,878  Provision for unfunded lending commitments (41) —  (380) (421) Other —  —  (1) (1) Reserve for unfunded lending commitments, December 31 96  —  1,360  1,456  Allowance for credit losses, December 31 $ 653  $ 6,476  $ 6,714  $ 13,843  2020 Allowance for loan and lease losses, January 1 $ 440  $ 7,430  $ 4,488  $ 12,358  Loans and leases charged off (98) (3,646) (1,675) (5,419) Recoveries of loans and leases previously charged off 201  891  206  1,298  Net charge-offs 103  (2,755) (1,469) (4,121) Provision for loan and lease losses 307  4,538  5,720  10,565  Other 8  —  (8) —  Allowance for loan and lease losses, December 31 858  9,213  8,731  18,802  Reserve for unfunded lending commitments, January 1 119  —  1,004  1,123  Provision for unfunded lending commitments 18  —  737  755  Reserve for unfunded lending commitments, December 31 137  —  1,741  1,878  Allowance for credit losses, December 31 $ 995  $ 9,213  $ 10,472  $ 20,680