| Changes in the allowance for credit losses |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended June 30, 2011 |
|
| |
|
|
|
|
|
Credit Card |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
and Other |
|
|
|
|
|
|
Total |
|
| (Dollars in millions) |
|
Home Loans |
|
|
Consumer |
|
|
Commercial |
|
|
Allowance |
|
| |
|
Allowance for loan and lease losses, April 1
|
|
$ |
20,097 |
|
|
$ |
13,271 |
|
|
$ |
6,475 |
|
|
$ |
39,843 |
|
|
Loans and leases charged off
|
|
|
(2,603 |
) |
|
|
(3,245 |
) |
|
|
(759 |
) |
|
|
(6,607 |
) |
|
Recoveries of loans and leases previously charged off
|
|
|
210 |
|
|
|
476 |
|
|
|
256 |
|
|
|
942 |
|
| |
|
Net charge-offs
|
|
|
(2,393 |
) |
|
|
(2,769 |
) |
|
|
(503 |
) |
|
|
(5,665 |
) |
| |
|
Provision for loan and lease losses
|
|
|
3,249 |
|
|
|
529 |
|
|
|
(518 |
) |
|
|
3,260 |
|
|
Other
|
|
|
- |
|
|
|
(100 |
) |
|
|
(26 |
) |
|
|
(126 |
) |
| |
|
Allowance for loan and lease losses, June 30
|
|
|
20,953 |
|
|
|
10,931 |
|
|
|
5,428 |
|
|
|
37,312 |
|
| |
|
Reserve for unfunded lending commitments, April 1
|
|
|
- |
|
|
|
- |
|
|
|
961 |
|
|
|
961 |
|
|
Provision for unfunded lending commitments
|
|
|
- |
|
|
|
- |
|
|
|
(5 |
) |
|
|
(5 |
) |
|
Other (1)
|
|
|
- |
|
|
|
- |
|
|
|
(59 |
) |
|
|
(59 |
) |
| |
|
Reserve for unfunded lending commitments, June 30
|
|
|
- |
|
|
|
- |
|
|
|
897 |
|
|
|
897 |
|
| |
|
Allowance for credit losses, June 30
|
|
$ |
20,953 |
|
|
$ |
10,931 |
|
|
$ |
6,325 |
|
|
$ |
38,209 |
|
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June 30, 2011 |
|
|
Allowance for loan and lease losses, January 1
|
|
$ |
19,252 |
|
|
$ |
15,463 |
|
|
$ |
7,170 |
|
|
$ |
41,885 |
|
|
Loans and leases charged off
|
|
|
(4,892 |
) |
|
|
(6,976 |
) |
|
|
(1,665 |
) |
|
|
(13,533 |
) |
|
Recoveries of loans and leases previously charged off
|
|
|
395 |
|
|
|
966 |
|
|
|
479 |
|
|
|
1,840 |
|
| |
|
Net charge-offs
|
|
|
(4,497 |
) |
|
|
(6,010 |
) |
|
|
(1,186 |
) |
|
|
(11,693 |
) |
| |
|
Provision for loan and lease losses
|
|
|
6,197 |
|
|
|
1,508 |
|
|
|
(529 |
) |
|
|
7,176 |
|
|
Other
|
|
|
1 |
|
|
|
(30 |
) |
|
|
(27 |
) |
|
|
(56 |
) |
| |
|
Allowance for loan and lease losses, June 30
|
|
|
20,953 |
|
|
|
10,931 |
|
|
|
5,428 |
|
|
|
37,312 |
|
| |
|
Reserve for unfunded lending commitments, January 1
|
|
|
- |
|
|
|
- |
|
|
|
1,188 |
|
|
|
1,188 |
|
|
Provision for unfunded lending commitments
|
|
|
- |
|
|
|
- |
|
|
|
(107 |
) |
|
|
(107 |
) |
|
Other (1)
|
|
|
- |
|
|
|
- |
|
|
|
(184 |
) |
|
|
(184 |
) |
| |
|
Reserve for unfunded lending commitments, June 30
|
|
|
- |
|
|
|
- |
|
|
|
897 |
|
|
|
897 |
|
| |
|
Allowance for credit losses, June 30
|
|
$ |
20,953 |
|
|
$ |
10,931 |
|
|
$ |
6,325 |
|
|
$ |
38,209 |
|
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended June 30, 2010 |
|
|
Allowance for loan and lease losses, April 1
|
|
$ |
17,971 |
|
|
$ |
19,683 |
|
|
$ |
9,181 |
|
|
$ |
46,835 |
|
|
Loans and leases charged off
|
|
|
(2,819 |
) |
|
|
(5,916 |
) |
|
|
(1,571 |
) |
|
|
(10,306 |
) |
|
Recoveries of loans and leases previously charged off
|
|
|
88 |
|
|
|
505 |
|
|
|
156 |
|
|
|
749 |
|
| |
|
Net charge-offs
|
|
|
(2,731 |
) |
|
|
(5,411 |
) |
|
|
(1,415 |
) |
|
|
(9,557 |
) |
| |
|
Provision for loan and lease losses
|
|
|
3,659 |
|
|
|
3,489 |
|
|
|
957 |
|
|
|
8,105 |
|
|
Other
|
|
|
(61 |
) |
|
|
(69 |
) |
|
|
2 |
|
|
|
(128 |
) |
| |
|
Allowance for loan and lease losses, June 30
|
|
|
18,838 |
|
|
|
17,692 |
|
|
|
8,725 |
|
|
|
45,255 |
|
| |
|
Reserve for unfunded lending commitments, April 1
|
|
|
- |
|
|
|
- |
|
|
|
1,521 |
|
|
|
1,521 |
|
|
Other (1)
|
|
|
- |
|
|
|
- |
|
|
|
(108 |
) |
|
|
(108 |
) |
| |
|
Reserve for unfunded lending commitments, June 30
|
|
|
- |
|
|
|
- |
|
|
|
1,413 |
|
|
|
1,413 |
|
| |
|
Allowance for credit losses, June 30
|
|
$ |
18,838 |
|
|
$ |
17,692 |
|
|
$ |
10,138 |
|
|
$ |
46,668 |
|
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June 30, 2010 |
|
|
Allowance for loan and lease losses, January 1
|
|
$ |
16,329 |
|
|
$ |
22,243 |
|
|
$ |
9,416 |
|
|
$ |
47,988 |
|
|
Loans and leases charged off
|
|
|
(6,389 |
) |
|
|
(12,179 |
) |
|
|
(3,239 |
) |
|
|
(21,807 |
) |
|
Recoveries of loans and leases previously charged off
|
|
|
171 |
|
|
|
1,007 |
|
|
|
275 |
|
|
|
1,453 |
|
| |
|
Net charge-offs
|
|
|
(6,218 |
) |
|
|
(11,172 |
) |
|
|
(2,964 |
) |
|
|
(20,354 |
) |
| |
|
Provision for loan and lease losses
|
|
|
8,632 |
|
|
|
6,799 |
|
|
|
2,273 |
|
|
|
17,704 |
|
|
Other
|
|
|
95 |
|
|
|
(178 |
) |
|
|
- |
|
|
|
(83 |
) |
| |
|
Allowance for loan and lease losses, June 30
|
|
|
18,838 |
|
|
|
17,692 |
|
|
|
8,725 |
|
|
|
45,255 |
|
| |
|
Reserve for unfunded lending commitments, January 1
|
|
|
- |
|
|
|
- |
|
|
|
1,487 |
|
|
|
1,487 |
|
|
Provision for unfunded lending commitments
|
|
|
- |
|
|
|
- |
|
|
|
206 |
|
|
|
206 |
|
|
Other (1)
|
|
|
- |
|
|
|
- |
|
|
|
(280 |
) |
|
|
(280 |
) |
| |
|
Reserve for unfunded lending commitments, June 30
|
|
|
- |
|
|
|
- |
|
|
|
1,413 |
|
|
|
1,413 |
|
| |
|
Allowance for credit losses, June 30
|
|
$ |
18,838 |
|
|
$ |
17,692 |
|
|
$ |
10,138 |
|
|
$ |
46,668 |
|
| |
|
|
|
| (1) |
|
Represents primarily accretion of the Merrill Lynch purchase accounting adjustment
and the impact of funding previously unfunded positions.
|
|
| Carrying value of outstanding loans and leases |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
June 30, 2011 |
|
| |
|
|
|
|
|
Credit Card |
|
|
|
|
|
|
|
| |
|
|
|
|
|
and Other |
|
|
|
|
|
|
|
| (Dollars in millions) |
|
Home Loans |
|
|
Consumer |
|
|
Commercial |
|
|
Total |
|
| |
|
Impaired loans and troubled debt restructurings (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses (2)
|
|
$ |
2,094 |
|
|
$ |
3,372 |
|
|
$ |
778 |
|
|
$ |
6,244 |
|
|
Carrying value
|
|
|
17,983 |
|
|
|
9,279 |
|
|
|
8,994 |
|
|
|
36,256 |
|
|
Allowance as a percentage of carrying value
|
|
|
11.64 |
% |
|
|
36.34 |
% |
|
|
8.66 |
% |
|
|
17.22 |
% |
| |
|
Collectively evaluated for impairment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
$ |
10,466 |
|
|
$ |
7,559 |
|
|
$ |
4,649 |
|
|
$ |
22,674 |
|
|
Carrying value (3)
|
|
|
356,117 |
|
|
|
214,437 |
|
|
|
289,779 |
|
|
|
860,333 |
|
|
Allowance as a percentage of carrying value (3)
|
|
|
2.94 |
% |
|
|
3.53 |
% |
|
|
1.60 |
% |
|
|
2.64 |
% |
| |
|
Purchased credit-impaired loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
$ |
8,393 |
|
|
|
n/a |
|
|
$ |
1 |
|
|
$ |
8,394 |
|
|
Carrying value excluding valuation allowance
|
|
|
34,890 |
|
|
|
n/a |
|
|
|
181 |
|
|
|
35,071 |
|
|
Allowance as a percentage of carrying value
|
|
|
24.06 |
% |
|
|
n/a |
|
|
|
0.39 |
% |
|
|
23.94 |
% |
| |
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
$ |
20,953 |
|
|
$ |
10,931 |
|
|
$ |
5,428 |
|
|
$ |
37,312 |
|
|
Carrying value (3)
|
|
|
408,990 |
|
|
|
223,716 |
|
|
|
298,954 |
|
|
|
931,660 |
|
|
Allowance as a percentage of carrying value (3)
|
|
|
5.12 |
% |
|
|
4.89 |
% |
|
|
1.82 |
% |
|
|
4.00 |
% |
| |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, 2010 |
|
|
Impaired loans and troubled debt restructurings (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses (2)
|
|
$ |
1,871 |
|
|
$ |
4,786 |
|
|
$ |
1,080 |
|
|
$ |
7,737 |
|
|
Carrying value
|
|
|
13,904 |
|
|
|
11,421 |
|
|
|
10,645 |
|
|
|
35,970 |
|
|
Allowance as a percentage of carrying value
|
|
|
13.46 |
% |
|
|
41.91 |
% |
|
|
10.15 |
% |
|
|
21.51 |
% |
| |
|
Collectively evaluated for impairment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
$ |
10,964 |
|
|
$ |
10,677 |
|
|
$ |
6,078 |
|
|
$ |
27,719 |
|
|
Carrying value (3)
|
|
|
358,765 |
|
|
|
222,967 |
|
|
|
282,820 |
|
|
|
864,552 |
|
|
Allowance as a percentage of carrying value (3)
|
|
|
3.06 |
% |
|
|
4.79 |
% |
|
|
2.15 |
% |
|
|
3.21 |
% |
| |
|
Purchased credit-impaired loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
$ |
6,417 |
|
|
|
n/a |
|
|
$ |
12 |
|
|
$ |
6,429 |
|
|
Carrying value excluding valuation allowance
|
|
|
36,393 |
|
|
|
n/a |
|
|
|
204 |
|
|
|
36,597 |
|
|
Allowance as a percentage of carrying value
|
|
|
17.63 |
% |
|
|
n/a |
|
|
|
5.76 |
% |
|
|
17.57 |
% |
| |
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
$ |
19,252 |
|
|
$ |
15,463 |
|
|
$ |
7,170 |
|
|
$ |
41,885 |
|
|
Carrying value (3)
|
|
|
409,062 |
|
|
|
234,388 |
|
|
|
293,669 |
|
|
|
937,119 |
|
|
Allowance as a percentage of carrying value (3)
|
|
|
4.71 |
% |
|
|
6.60 |
% |
|
|
2.44 |
% |
|
|
4.47 |
% |
| |
|
|
|
| (1) |
|
Impaired loans include nonperforming commercial loans and all commercial and
consumer TDRs. Impaired loans exclude nonperforming consumer loans unless they are classified as
TDRs, and all loans and leases that are accounted for under the fair value option.
|
| |
| (2) |
|
Commercial impaired allowance for loan and lease losses includes $268 million and
$445 million at June 30, 2011 and December 31, 2010 related to U.S. small business commercial
renegotiated TDR loans.
|
| |
| (3) |
|
Outstanding loan and lease balances and ratios do not include loans accounted for
under the fair value option. Total loans accounted for under the fair value option were $9.6
billion and $3.3 billion at June 30, 2011 and December 31, 2010.
|
| |
| n/a |
|
= not applicable
|
|