Quarterly report pursuant to Section 13 or 15(d)

ALLOWANCE FOR CREDIT LOSSES (Tables)

v3.21.2
ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2021
Credit Loss [Abstract]  
Allowance Roll-forward
Allowance for Credit Losses - Roll-forward
The following tables present ACL activity by portfolio segment for the three-month and nine-month periods ended September 30, 2021 and 2020.

(dollar amounts in millions) Commercial Consumer Total
Three-month period ended September 30, 2021:
ALLL balance, beginning of period $ 1,618  $ 600  $ 2,218 
Loan and lease charge-offs (74) (32) (106)
Recoveries of loans and leases previously charged-off 27  24  51 
Provision (benefit) for loan and lease losses (22) (34) (56)
ALLL balance, end of period $ 1,549  $ 558  $ 2,107 
AULC balance, beginning of period $ 76  $ 28  $ 104 
Provision for unfunded lending commitments 2  (8) (6)
AULC balance, end of period $ 78  $ 20  $ 98 
ACL balance, end of period $ 1,627  $ 578  $ 2,205 
Nine-month period ended September 30, 2021:
ALLL balance, beginning of period $ 1,236  $ 578  $ 1,814 
Loan and lease charge-offs (213) (90) (303)
Recoveries of loans and leases previously charged-off 58  64  122 
Provision for loan and lease losses (1) 94  (52) 42 
Allowance on loans and leases purchased with credit deterioration 374  58  432 
ALLL balance, end of period $ 1,549  $ 558  $ 2,107 
AULC balance, beginning of period $ 34  $ 18  $ 52 
Provision for unfunded lending commitments (2) 45  2  47 
Unfunded lending commitment losses (1) —  (1)
AULC balance, end of period $ 78  $ 20  $ 98 
ACL balance, end of period $ 1,627  $ 578  $ 2,205 
(dollar amounts in millions) Commercial Consumer Total
Three-month period ended September 30, 2020:
ALLL balance, beginning of period $ 1,169  $ 533  $ 1,702 
Loan and lease charge-offs (101) (40) (141)
Recoveries of loans and leases previously charged-off 12  16  28 
Provision for loan and lease losses 183  24  207 
ALLL balance, end of period $ 1,263  $ 533  $ 1,796 
AULC balance, beginning of period $ 81  $ 38  $ 119 
Provision (reduction in allowance) for unfunded lending commitments (27) (3) (30)
Unfunded lending commitment losses (7) —  (7)
AULC balance, end of period $ 47  $ 35  $ 82 
ACL balance, end of period $ 1,310  $ 568  $ 1,878 
Nine-month period ended September 30, 2020:
ALLL balance, beginning of period $ 552  $ 231  $ 783 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (3) 180  211  391 
Loan and lease charge-offs (272) (128) (400)
Recoveries of loans and leases previously charged-off 20  43  63 
Provision for loan and lease losses 783  176  959 
ALLL balance, end of period $ 1,263  $ 533  $ 1,796 
AULC balance, beginning of period $ 102  $ 2  $ 104 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (3) (38) 40  2 
Provision (reduction in allowance) for unfunded lending commitments (7) (7) (14)
Unfunded lending commitment losses (10) —  (10)
AULC balance, end of period $ 47  $ 35  $ 82 
ACL balance, end of period $ 1,310  $ 568  $ 1,878 
(1)Includes $234 million of TCF acquisition initial provision for credit losses related to non-PCD loans and leases.
(2)Includes $60 million from acquired unfunded lending commitments.
(3)Relates to day one impact of the CECL adjustment as a result of the implementation of ASU 2016-13.