Quarterly report pursuant to Section 13 or 15(d)

ALLOWANCE FOR CREDIT LOSSES

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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.

(dollar amounts in millions) Commercial Consumer Total
Three-month period ended March 31, 2022:
ALLL balance, beginning of period $ 1,462  $ 568  $ 2,030 
Loan and lease charge-offs (31) (50) (81)
Recoveries of loans and leases previously charged-off 40  22  62 
Provision (benefit) for loan and lease losses 43  (36) 7 
ALLL balance, end of period $ 1,514  $ 504  $ 2,018 
AULC balance, beginning of period $ 41  $ 36  $ 77 
Provision (benefit) for unfunded lending commitments 16  (2) 14 
AULC balance, end of period $ 57  $ 34  $ 91 
ACL balance, end of period $ 1,571  $ 538  $ 2,109 
(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 and lease charge-offs (61) (34) (95)
Recoveries of loans and leases 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 (benefit) for unfunded lending commitments (6) (7) (13)
Unfunded lending commitment losses (1) —  (1)
AULC balance, end of period $ 27  $ 11  $ 38 
ACL balance, end of period $ 1,224  $ 517  $ 1,741 

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.