Quarterly report pursuant to Section 13 or 15(d)

ALLOWANCE FOR CREDIT LOSSES (Tables)

v3.21.1
ALLOWANCE FOR CREDIT LOSSES (Tables)
 3 Months Ended
Mar. 31, 2021
Credit Loss [Abstract]  
Allowance Roll-forward
Allowance for Loan and Lease Losses and Allowance for Credit Losses - Roll-forward
The following tables present ALLL and AULC activity by portfolio segment for the three-month periods ended March 31, 2021 and 2020.
(dollar amounts in millions) Commercial Consumer Total
Three-month period ended March 31, 2021:
ALLL balance, beginning of period $ 1,236  $ 578  $ 1,814 
Loan charge-offs (61) (34) (95)
Recoveries of loans previously charged-off 12  19  31 
Provision for loan and lease losses 10  (57) (47)
ALLL balance, end of period $ 1,197  $ 506  $ 1,703 
AULC balance, beginning of period $ 34  $ 18  $ 52 
Provision (reduction in allowance) for unfunded loan commitments and letters of credit (6) (7) (13)
Unfunded commitment losses (1) —  (1)
AULC balance, end of period $ 27  $ 11  $ 38 
ACL balance, end of period $ 1,224  $ 517  $ 1,741 
(dollar amounts in millions) Commercial Consumer Total
Three-month period ended March 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 charge-offs (88) (48) (136)
Recoveries of loans previously charged-off 5  14  19 
Provision for loan and lease losses 347  100  447 
ALLL balance, end of period $ 996  $ 508  $ 1,504 
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 (5) (1) (6)
Unfunded commitment losses (1) —  (1)
AULC balance, end of period $ 58  $ 41  $ 99 
ACL balance, end of period $ 1,054  $ 549  $ 1,603