Quarterly report pursuant to Section 13 or 15(d)

ALLOWANCE FOR CREDIT LOSSES (Tables)

v3.20.2
ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2020
Credit Loss [Abstract]  
Allowance Roll-forward
Allowance for Loan and Lease Losses and Allowance for Credit Losses - Roll-forward
The following table presents ALLL and AULC activity by portfolio segment for the three-month and nine-month periods ended September 30, 2020 and 2019.
(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 charge-offs (101) (40) (141)
Recoveries of loans 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 loan commitments and letters of credit (27) (3) (30)
Unfunded 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 (1) 180  211  391 
Loan charge-offs (272) (128) (400)
Recoveries of loans 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 (1) (38) 40  2 
Provision (reduction in allowance) for unfunded loan commitments and letters of credit (7) (7) (14)
Unfunded commitment losses (10) —  (10)
AULC balance, end of period $ 47  $ 35  $ 82 
ACL balance, end of period $ 1,310  $ 568  $ 1,878 
(1)Relates to day one impact of the CECL adjustment as a result of the implementation of ASU 2016-13.
(dollar amounts in millions) Commercial Consumer Total
Three-month period ended September 30, 2019:
ALLL balance, beginning of period $ 560  $ 214  $ 774 
Loan charge-offs (53) (49) (102)
Recoveries of loans previously charged-off 15  14  29 
Provision for loan and lease losses 39  43  82 
ALLL balance, end of period $ 561  $ 222  $ 783 
AULC balance, beginning of period $ 99  $ 2  $ 101 
Provision (reduction in allowance) for unfunded loan commitments and letters of credit —  —  — 
AULC balance, end of period $ 99  $ 2  $ 101 
ACL balance, end of period $ 660  $ 224  $ 884 
Nine-month period ended September 30, 2019:
ALLL balance, beginning of period $ 542  $ 230  $ 772 
Loan charge-offs (124) (145) (269)
Recoveries of loans previously charged-off 35  42  77 
Provision for loan and lease losses 108  95  203 
ALLL balance, end of period $ 561  $ 222  $ 783 
AULC balance, beginning of period $ 94  $ 2  $ 96 
Provision (reduction in allowance) for unfunded loan commitments and letters of credit 5  —  5 
AULC balance, end of period $ 99  $ 2  $ 101 
ACL balance, end of period $ 660  $ 224  $ 884