ALLOWANCE FOR CREDIT LOSSES
|3 Months Ended|
Mar. 31, 2022
|Credit Loss [Abstract]|
|Allowance for Credit Losses||ALLOWANCE FOR CREDIT LOSSES
Allowance for Credit Losses - Roll-forward
The following tables present ACL activity by portfolio segment for the three-month periods ended March 31, 2022 and 2021.
At March 31, 2022, the ACL was $2.1 billion, an increase of $2 million from the December 31, 2021 balance of $2.1 billion.The economic scenarios used in the March 31, 2022 ACL determination contained significant judgmental assumptions due to elevated levels of economic uncertainty associated with geopolitical instability, risks of rising inflation, and the COVID-19 pandemic. Given the uncertainty associated with key economic scenario assumptions, the March 31, 2022 ACL included general reserve that consists of various risk profile components, including profiles related to the potential economic impacts of geopolitical instability and the commercial real estate portfolio, to capture uncertainty not addressed within the quantitative transaction reserve.
The entire disclosure for allowance for credit losses.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef