Annual report pursuant to Section 13 and 15(d)

ALLOWANCE FOR CREDIT LOSSES (Tables)

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ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2021
Credit Loss [Abstract]  
Allowance Roll-forward
The following table presents ACL activity by portfolio segment for the years ended December 31, 2021, 2020, and 2019:
(dollar amounts in millions) Commercial Consumer Total
Year ended December 31, 2021:
ALLL balance, beginning of period $ 1,236  $ 578  $ 1,814 
Loan and lease charge-offs (1) (243) (139) (382)
Recoveries of loans and leases previously charged-off 83  84  167 
Provision (benefit) for loan and lease losses 12  (13) (1)
Allowance on PCD loans and leases at acquisition 374  58  432 
ALLL balance, end of period
 $ 1,462  $ 568  $ 2,030 
AULC balance, beginning of period $ 34  $ 18  $ 52 
Provision for unfunded lending commitments 8  18  26 
Unfunded lending commitment losses (1) —  (1)
AULC balance, end of period $ 41  $ 36  $ 77 
ACL balance, end of period $ 1,503  $ 604  $ 2,107 
Year ended December 31, 2020:
ALLL balance, beginning of period $ 552  $ 231  $ 783 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (2) 180  211  391 
Loan and lease charge-offs (374) (166) (540)
Recoveries of loans and leases previously charged-off 32  59  91 
Provision for loan and lease losses 846  243  1,089 
ALLL balance, end of period $ 1,236  $ 578  $ 1,814 
AULC balance, beginning of period $ 102  $ 2  $ 104 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (4) (38) 40  2 
Provision (benefit) for unfunded lending commitments (17) (24) (41)
Unfunded lending commitment losses (13) —  (13)
AULC balance, end of period $ 34  $ 18  $ 52 
ACL balance, end of period $ 1,270  $ 596  $ 1,866 
 
Year ended December 31, 2019:
ALLL balance, beginning of period $ 542  $ 230  $ 772 
Loan and lease charge-offs (165) (197) (362)
Recoveries of loans and leases previously charged-off 40  57  97 
Provision for loan and lease losses 135  142  277 
Allowance for loans sold or transferred to loans held for sale —  (1) (1)
ALLL balance, end of period $ 552  $ 231  $ 783 
AULC balance, beginning of period $ 94  $ 2  $ 96 
Provision for unfunded lending commitments 10  —  10 
Unfunded lending commitment losses (2) —  (2)
AULC balance, end of period $ 102  $ 2  $ 104 
ACL balance, end of period $ 654  $ 233  $ 887 
(1)Net charge-offs and associated metrics for the year ended December 31, 2021 exclude $80 million of charge-offs recognized immediately upon completion of the TCF acquisition and related to required purchase accounting treatment.
(2)Relates to day one impact of the CECL adjustment as a result of the implementation of ASU 2016-13.