Annual report pursuant to Section 13 and 15(d)

ALLOWANCE FOR CREDIT LOSSES (Tables)

v3.22.4
ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2022
Credit Loss [Abstract]  
Allowance Roll-forward
The following table presents ACL activity by portfolio segment.
(dollar amounts in millions) Commercial Consumer Total
Year ended December 31, 2022:
ALLL balance, beginning of period $ 1,462  $ 568  $ 2,030 
Loan and lease charge-offs (129) (184) (313)
Recoveries of loans and leases previously charged-off 114  78  192 
Provision (benefit) for loan and lease losses (23) 235  212 
ALLL balance, end of period
 $ 1,424  $ 697  $ 2,121 
AULC balance, beginning of period $ 41  $ 36  $ 77 
Provision for unfunded lending commitments 30  43  73 
AULC balance, end of period $ 71  $ 79  $ 150 
ACL balance, end of period $ 1,495  $ 776  $ 2,271 
Year ended December 31, 2021:
ALLL balance, beginning of period $ 1,236  $ 578  $ 1,814 
Loan and lease charge-offs (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 (1) 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 (1) (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 
(1)Relates to day one impact of the CECL adjustment as a result of the implementation of ASU 2016-13.