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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 676 $ 80
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (255) 426
Depreciation and amortization (11) 63
Share-based compensation 19 18
Deferred income tax expense (benefit) 108 (94)
Net decrease in trading securities 85 22
Net decrease (increase) in loans held for sale 6 (13)
Change in other liabilities (1) 33
Change in other assets (259) (129)
Other, net (85) (8)
Net cash provided by operating activities 283 398
CASH FLOWS FROM INVESTING ACTIVITIES    
Net increase in money market investments (4,961) (618)
Proceeds from maturities and paydowns of investment securities held-to-maturity 272 73
Purchases of investment securities held-to-maturity (256) (169)
Proceeds from sales, maturities and paydowns of investment securities available-for-sale 2,485 1,795
Purchases of investment securities available-for-sale (5,170) (2,011)
Net change in loans and leases 2,177 (6,381)
Purchases and sales of other noninterest-bearing investments 4 59
Purchases of premises and equipment (84) (82)
Other, net 10 33
Net cash used in investing activities (5,523) (7,301)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 6,452 8,599
Net change in short-term funds borrowed (831) (1,194)
Cash paid for preferred stock redemption (126) 0
Redemption of long-term debt 0 (429)
Proceeds from the issuance of common stock 16 5
Dividends paid on common and preferred stock (129) (130)
Bank common stock repurchased (151) (76)
Other, net (9) (7)
Net cash provided by financing activities 5,222 6,768
Net decrease in cash and due from banks (18) (135)
Cash and due from banks at beginning of period 543 705
Cash and due from banks at end of period 525 570
Cash paid for interest 43 123
Net cash paid for income taxes 427 17
Noncash activities are summarized as follows:    
Loans held for investment transferred to other real estate owned 1 1
Loans held for investment reclassified to loans held for sale, net $ 27 $ 22