The Company had loans of $100.3 billion at June 30, 2020, and $96.2 billion at December 31, 2019, pledged at the Federal Home Loan Bank, and loans of $70.3 billion at June 30, 2020, and $76.3 billion at December 31, 2019, pledged at the Federal Reserve Bank.

Originated loans are reported at the principal amount outstanding, net of unearned interest and deferred fees and costs, and any partial charge-offs recorded. Net unearned interest and deferred fees and costs amounted to $922 million at June 30, 2020 and $781 million at December 31, 2019. All purchased loans are recorded at fair value at the date of purchase. Beginning January 1, 2020, the Company evaluates purchased loans for more-than-insignificant deterioration at the date of purchase in accordance with applicable authoritative accounting guidance. Purchased loans that have experienced more-than-insignificant deterioration from origination are considered purchased credit deteriorated (“PCD”) loans. All other purchased loans are considered

non-purchased

credit deteriorated loans.

The Company offers a broad array of lending products and categorizes its loan portfolio into two segments, which is the level at which it develops and documents a systematic methodology to determine the allowance for credit losses. The Company’s two loan portfolio segments are commercial lending and consumer lending.

Allowance for Credit Losses

Effective January 1, 2020, the allowance for credit losses is established for current expected credit losses on the Company’s loan and lease portfolio, including unfunded credit commitments. Prior to January 1, 2020, the allowance for credit losses was established based on an incurred loss model. The allowance for credit losses is increased through provisions charged to earnings and reduced by net charge-offs. Management evaluates the appropriateness of the allowance for credit losses on a quarterly basis. The allowance considers expected losses for the remaining lives of the applicable assets, inclusive of expected recoveries. Multiple economic scenarios are considered over a three-year reasonable and supportable forecast period, which incorporates historical loss experience in years two and three. After the forecast period, the Company fully reverts to long-term historical loss experience, adjusted for prepayments and characteristics of the current loan and lease portfolio, to estimate losses over the remaining lives. The economic scenarios are updated at least quarterly and are designed to provide a range of reasonable estimates, both better and worse than current expectations. Scenarios are weighted based on the Company’s expectation of future conditions. Final loss estimates also consider factors affecting credit losses not reflected in the scenarios, due to the unique aspects of current conditions and expectations. These factors may include loan servicing practices, regulatory guidance, and/or fiscal and monetary policy actions.

The allowance recorded for credit losses utilizes forward-looking expected loss models to consider a variety of factors affecting lifetime credit losses. These factors include loan and borrower characteristics, such as internal risk

ratings on commercial loans and consumer credit scores, delinquency status, collateral type and available valuation information, consideration of

end-of-term

losses on lease residuals, and the remaining term of the loan, adjusted for expected prepayments. Where loans do not exhibit similar risk characteristics, an individual analysis is performed to consider expected credit losses. For each loan portfolio, model estimates are adjusted as necessary to consider any relevant changes in portfolio composition, lending policies, underwriting standards, risk management practices or economic conditions that would affect the accuracy of the model. The results of the analysis are evaluated quarterly to confirm the estimates are appropriate for each loan portfolio. Expected credit loss estimates also include consideration of expected cash recoveries on loans previously

charged-off,

or expected recoveries on collateral dependent loans where recovery is expected through sale of the collateral. The allowance recorded for individually evaluated loans greater than $5 million in the commercial lending segment is based on an analysis utilizing expected cash flows discounted using the original effective interest rate, the observable market price of the loan, or the fair value of the collateral, less selling costs, for collateral-dependent loans.

The allowance recorded for Troubled Debt Restructuring (“TDR”) loans in the consumer lending segment is determined on a homogenous pool basis utilizing expected cash flows discounted using the original effective interest rate of the pool. TDRs do not include loan modifications granted to customers resulting directly from the economic effects of the

COVID-19

pandemic. The expected cash flows on TDR loans consider subsequent payment defaults since modification, the borrower’s ability to pay under the restructured terms, and the timing and amount of payments. The allowance for collateral-dependent loans in the consumer lending segment is determined based on the current fair value of the collateral less costs to sell. With respect to the commercial lending segment, TDRs may be collectively evaluated for impairment where observed performance history, including defaults, is a primary driver of the loss allocation. For commercial TDRs individually evaluated for impairment, attributes of the borrower are the primary factors in determining the allowance for credit losses. However, historical loss experience is also incorporated into the allowance methodology applied to this category of loans.

Beginning January 1, 2020, when a loan portfolio is purchased, an allowance is established for those loans considered purchased with more-than-insignificant credit deterioration, or PCD loans, and those not considered purchased with more-than-insignificant credit deterioration. The allowance established for each population considers product mix, risk characteristics of the portfolio, bankruptcy experience, delinquency status, refreshed

loan-to-value

ratios when possible, and portfolio growth. The allowance established for purchased loans not considered PCD is recognized through provision expense upon acquisition, whereas the allowance established for loans considered PCD at acquisition is offset by an increase in the basis of the acquired loans. Any subsequent increases and decreases in the allowance related to purchased loans are recognized through provision expense, with future charge-offs charged to the allowance.

The Company’s methodology for determining the appropriate allowance for credit losses for each loan segment also considers the imprecision inherent in the methodologies used. As a result, amounts determined under the methodologies described above are adjusted by management to consider the potential impact of other qualitative factors which include, but are not limited to, the following: model imprecision, imprecision in economic scenario assumptions, and emerging risks related to either changes in the environment that are affecting specific portfolio segments, or changes in portfolio concentrations over time that may affect model performance. The consideration of these items results in adjustments to allowance amounts included in the Company’s allowance for credit losses specific to each portfolio class.

The Company also assesses the credit risk associated with

off-balance

sheet loan commitments, letters of credit, investment securities and derivatives. Credit risk associated with derivatives is reflected in the fair values recorded for those positions. The liability for

off-balance

sheet credit exposure related to loan commitments and other credit guarantees is included in other liabilities. Because business processes and credit risks associated with unfunded credit commitments are essentially the same as for loans, the Company utilizes similar processes to estimate its liability for unfunded credit commitments.

Activity in the allowance for credit losses by portfolio class was as follows:


Three Months Ended June 30 (Dollars in Millions)	Commercial			Commercial Real Estate			Residential Mortgages			Credit Card			Other Retail			Total Loans
2020
Balance at beginning of period	$	2,240		$	841		$	412		$	2,012		$	1,085		$	6,590
Add
Provision for credit losses		516			450			218			373			180			1,737
Deduct
Loans charged-off		125			23			3			265			106			522
Less recoveries of loans charged-off		(14	)		(1	)		(6	)		(36	)		(28	)		(85	)
Net loans charged-off		111			22			(3	)		229			78			437
Balance at end of period	$	2,645		$	1,269		$	633		$	2,156		$	1,187		$	7,890
2019
Balance at beginning of period	$	1,445		$	812		$	445		$	1,115		$	634		$	4,451
Add
Provision for credit losses		78			(17	)		(3	)		244			63			365
Deduct
Loans charged-off		98			3			11			262			90			464
Less recoveries of loans charged-off		(39	)		(2	)		(7	)		(35	)		(31	)		(114	)
Net loans charged-off		59			1			4			227			59			350
Balance at end of period	$	1,464		$	794		$	438		$	1,132		$	638		$	4,466

Six Months Ended June 30 (Dollars in Millions)	Commercial			Commercial Real Estate			Residential Mortgages			Credit Card			Other Retail			Total Loans
2020
Balance at beginning of period	$	1,484		$	799		$	433		$	1,128		$	647		$	4,491
Add
Change in accounting principle (a)		378			(122	)		(30	)		872			401			1,499
Provision for credit losses		968			612			228			619			303			2,730
Deduct
Loans charged-off		213			23			11			539			227			1,013
Less recoveries of loans charged-off		(28	)		(3	)		(13	)		(76	)		(63	)		(183	)
Net loans charged-off		185			20			(2	)		463			164			830
Balance at end of period	$	2,645		$	1,269		$	633		$	2,156		$	1,187		$	7,890
2019
Balance at beginning of period	$	1,454		$	800		$	455		$	1,102		$	630		$	4,441
Add
Provision for credit losses		142			(5	)		(10	)		482			133			742
Deduct
Loans charged-off		209			4			19			519			186			937
Less recoveries of loans charged-off		(77	)		(3	)		(12	)		(67	)		(61	)		(220	)
Net loans charged-off		132			1			7			452			125			717
Balance at end of period	$	1,464		$	794		$	438		$	1,132		$	638		$	4,466

(a)	Effective January 1, 2020, the Company adopted accounting guidance which changed impairment recognition of financial instruments to a model that is based on expected losses rather than incurred losses.

The increase in the allowance for credit losses from December 31, 2019 to June 30, 2020 reflected the adoption of new accounting guidance and deteriorating economic conditions driven by the impact of

COVID-19

on the domestic and global economies. Expected loss estimates consider both the decrease in economic activity, and the mitigating effects of government stimulus and industrywide loan modification efforts designed to limit long term effects of the pandemic. The increase in the allowance for credit losses resulted from the estimated impact of deteriorating economic conditions and higher unemployment, partially offset by the benefits of government stimulus programs.

Credit Quality

The credit quality of the Company’s loan portfolios is assessed as a function of net credit losses, levels of nonperforming assets and delinquencies, and credit quality ratings as defined by the Company.

For all loan classes, loans are considered past due based on the number of days delinquent except for monthly amortizing loans which are classified delinquent based upon the number of contractually required payments not made (for example, two missed payments is considered 30 days delinquent). When a loan is placed on nonaccrual status, unpaid accrued interest is reversed, reducing interest income in the current period.

Commercial lending segment loans are generally placed on nonaccrual status when the collection of principal and interest has become 90 days past due or is otherwise considered doubtful. Commercial lending segment loans are generally fully or partially charged down to the fair value of the collateral securing the loan, less costs to sell, when the loan is placed on nonaccrual.

Consumer lending segment loans are generally

charged-off

at a specific number of days or payments past due. Residential mortgages and other retail loans secured by

1-4

family properties are generally charged down to the fair value of the collateral securing the loan, less costs to sell, at 180 days past due. Residential mortgage loans and lines in a first lien position are placed on nonaccrual status in instances where a partial

charge-off

occurs unless the loan is well secured and in the process of collection. Residential mortgage loans and lines in a junior lien position secured by

1-4 family

properties are placed on nonaccrual status at 120 days past due or when they are behind a first lien that has become 180 days or greater past due or placed on nonaccrual status. Any secured consumer lending segment loan whose borrower has had debt discharged through bankruptcy, for which the loan amount exceeds the fair value of the collateral, is charged down to the fair value of the related collateral and the remaining balance is placed on nonaccrual status. Credit card loans continue to accrue interest until the account is

charged-off.

Credit cards are

charged-off

at 180 days past due. Other retail loans not secured by

1-4

family properties are

charged-off

at 120 days past due; and revolving consumer lines are

charged-off

at 180 days past due. Similar to credit cards, other retail loans are generally not placed on nonaccrual status because of the relative short period of time to

charge-off.

Certain retail customers having financial difficulties may have the terms of their credit card and other loan agreements modified to require only principal payments and, as such, are reported as nonaccrual.

For all loan classes, interest payments received on nonaccrual loans are generally recorded as a reduction to a loan’s carrying amount while a loan is on nonaccrual and are recognized as interest income upon payoff of the loan. However, interest income may be recognized for interest payments if the remaining carrying amount of the loan is believed to be collectible. In certain circumstances, loans in any class may be restored to accrual status, such as when a loan has demonstrated sustained repayment performance or no amounts are past due and prospects for future payment are no longer in doubt; or when the loan becomes well secured and is in the process of collection. Loans where there has been a partial

charge-off

may be returned to accrual status if all principal and interest (including amounts previously

charged-off)

is expected to be collected and the loan is current. Generally, purchased credit deteriorated loans are considered accruing loans. However, the timing and amount of future cash flows for some loans is not reasonably estimable, and those loans are classified as nonaccrual loans with interest income not recognized until the timing and amount of the future cash flows can be reasonably estimated.

The following table provides a summary of loans by portfolio class, including the delinquency status of those that continue to accrue interest, and those that are nonperforming:


	Accruing
(Dollars in Millions)	Current		30-89 Days Past Due		90 Days or More Past Due		Nonperforming (b)		Total
June 30, 2020
Commercial	$	119,316	$	399	$	90	$	456	$	120,261
Commercial real estate		40,776		103		2		195		41,076
Residential mortgages (a)		70,731		241		115		242		71,329
Credit card		20,768		230		259		–		21,257
Other retail		55,890		254		90		178		56,412
Total loans	$	307,481	$	1,227	$	556	$	1,071	$	310,335
December 31, 2019
Commercial	$	103,273	$	307	$	79	$	204	$	103,863
Commercial real estate		39,627		34		3		82		39,746
Residential mortgages (a)		70,071		154		120		241		70,586
Credit card		24,162		321		306		–		24,789
Other retail		56,463		393		97		165		57,118
Total loans	$	293,596	$	1,209	$	605	$	692	$	296,102

(a)

At June 30, 2020, $656 million of loans 30–89 days past due and $1.7 billion of loans 90 days or more past due purchased from Government National Mortgage Association (“GNMA”) mortgage pools whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $428 million and $1.7 billion at December 31, 2019, respectively.

(b)

Substantially all nonperforming loans at June 30, 2020 and December 31, 2019, had an associated allowance for credit losses. The Company recognized interest income on nonperforming loans of $6 million for both the three months ended June 30, 2020 and 2019, and $10 million and $11 million for the six months ended June 30, 2020 and 2019, respectively.

At June 30, 2020, the amount of foreclosed residential real estate held by the Company, and included in other real estate owned (“OREO”), was $49 million, compared with $74 million at December 31, 2019. These amounts exclude $74 million and $155 million at June 30, 2020 and December 31, 2019, respectively, of foreclosed residential real estate related to mortgage loans whose payments are primarily insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs. In addition, the amount of residential mortgage loans secured by residential real estate in the process of foreclosure at June 30, 2020 and December 31, 2019, was

$1.2 billion and $1.5 billion, respectively, of which $964 million and $1.2 billion, respectively, related to loans purchased from Government National Mortgage Association (“GNMA”) mortgage pools whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs.

The Company classifies its loan portfolios using internal credit quality ratings on a quarterly basis.

These

ratings include pass, special mention and classified, and are an important part of the Company’s overall credit risk management process and evaluation of the allowance for credit losses. Loans with a pass rating represent those loans not classified on the Company’s rating scale for problem credits, as minimal credit risk has been identified. Special mention loans are those loans that have a potential weakness deserving management’s close attention. Classified loans are those loans where a well-defined weakness has been identified that may put full collection of contractual cash flows at risk. It is possible that others, given the same information, may reach different reasonable conclusions regarding the credit quality rating classification of specific loans.

The following table provides a summary of loans by portfolio class and the Company’s internal credit quality rating:


	June 30, 2020										December 31, 2019
			Criticized										Criticized
(Dollars in Millions)	Pass		Special Mention		Classified (a)		Total Criticized		Total		Pass		Special Mention		Classified (a)		Total Criticized		Total
Commercial
Originated in 2020	$	31,789	$	1,360	$	651	$	2,011	$	33,800	$	–	$	–	$	–	$	–	$	–
Originated in 2019		24,882		603		332		935		25,817		33,550		174		222		396		33,946
Originated in 2018		17,201		684		376		1,060		18,261		21,394		420		136		556		21,950
Originated in 2017		8,020		177		256		433		8,453		10,464		165		97		262		10,726
Originated in 2016		3,674		266		57		323		3,997		4,984		10		37		47		5,031
Originated prior to 2016		4,004		53		268		321		4,325		5,151		86		96		182		5,333
Revolving		24,470		678		460		1,138		25,608		26,307		292		278		570		26,877
Total commercial		114,040		3,821		2,400		6,221		120,261		101,850		1,147		866		2,013		103,863

Commercial real estate
Originated in 2020		5,903		706		140		846		6,749		–		–		–		–		–
Originated in 2019		10,813		1,214		228		1,442		12,255		12,976		108		108		216		13,192
Originated in 2018		7,470		826		226		1,052		8,522		9,455		71		56		127		9,582
Originated in 2017		3,773		409		231		640		4,413		5,863		99		64		163		6,026
Originated in 2016		2,644		243		129		372		3,016		3,706		117		60		177		3,883
Originated prior to 2016		3,692		267		153		420		4,112		4,907		78		101		179		5,086
Revolving		1,900		102		7		109		2,009		1,965		11		1		12		1,977
Total commercial real estate		36,195		3,767		1,114		4,881		41,076		38,872		484		390		874		39,746

Residential mortgages (b)
Originated in 2020		11,996		1		1		2		11,998		–		–		–		–		–
Originated in 2019		15,921		3		5		8		15,929		18,819		2		1		3		18,822
Originated in 2018		6,955		1		19		20		6,975		9,204		–		11		11		9,215
Originated in 2017		7,993		1		22		23		8,016		9,605		–		21		21		9,626
Originated in 2016		9,868		–		31		31		9,899		11,378		–		29		29		11,407
Originated prior to 2016		18,192		–		319		319		18,511		21,168		–		348		348		21,516
Revolving		1		–		–		–		1		–		–		–		–		–
Total residential mortgages		70,926		6		397		403		71,329		70,174		2		410		412		70,586

Credit card (c)		20,998		–		259		259		21,257		24,483		–		306		306		24,789

Other retail
Originated in 2020		8,265		–		3		3		8,268		–		–		–		–		–
Originated in 2019		13,648		–		22		22		13,670		15,907		–		11		11		15,918
Originated in 2018		8,449		–		29		29		8,478		10,131		–		23		23		10,154
Originated in 2017		5,809		–		27		27		5,836		7,907		–		28		28		7,935
Originated in 2016		2,611		–		16		16		2,627		3,679		–		20		20		3,699
Originated prior to 2016		2,481		–		20		20		2,501		3,274		–		28		28		3,302
Revolving		14,450		–		112		112		14,562		15,509		10		138		148		15,657
Revolving converted to term		438		–		32		32		470		418		–		35		35		453
Total other retail		56,151		–		261		261		56,412		56,825		10		283		293		57,118
Total loans	$	298,310	$	7,594	$	4,431	$	12,025	$	310,335	$	292,204	$	1,643	$	2,255	$	3,898	$	296,102
Total outstanding commitments	$	630,092	$	10,740	$	5,301	$	16,041	$	646,133	$	619,224	$	2,451	$	2,873	$	5,324	$	624,548

(a)	Classified rating on consumer loans primarily based on delinquency status.

(b)

At June 30, 2020, $1.7 billion of GNMA loans 90 days or more past due and $1.5 billion of restructured GNMA loans whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs were classified with a pass rating, compared with $1.7 billion and $1.6 billion at December 31, 2019, respectively.

(c)	All credit card loans are considered revolving loans.

Troubled Debt Restructurings

In certain circumstances, the Company may modify the terms of a loan to maximize the collection of amounts due when a borrower is experiencing financial difficulties or is expected to experience difficulties in the near-term. Concessionary modifications are classified as TDRs unless the modification results in only an insignificant delay in payments to be received. The Company recognizes interest on TDRs if the borrower complies with the revised terms and conditions as agreed upon with the Company and has demonstrated repayment performance at a level commensurate with the modified terms over several payment cycles, which is generally six months or greater. To the extent a previous restructuring was insignificant, the Company considers the cumulative effect of past restructurings related to the receivable when determining whether a current

restructuring

is a TDR.

The following table provides a summary of loans modified as TDRs during the periods presented by portfolio class:


	2020						2019
(Dollars in Millions)	Number of Loans		Pre-Modification Outstanding Loan Balance		Post-Modification Outstanding Loan Balance		Number of Loans		Pre-Modification Outstanding Loan Balance		Post-Modification Outstanding Loan Balance
Three Months Ended June 30
Commercial		1,139	$	144	$	115		823	$	90	$	86
Commercial real estate		38		39		39		24		25		24
Residential mortgages		121		24		24		105		12		13
Credit card		6,168		37		38		7,941		44		44
Other retail		374		9		8		642		13		13
Total loans, excluding loans purchased from GNMA mortgage pools		7,840		253		224		9,535		184		180
Loans purchased from GNMA mortgage pools		1,009		142		138		1,555		215		208
Total loans		8,849	$	395	$	362		11,090	$	399	$	388

Six Months Ended June 30
Commercial		2,138	$	243	$	216		1,736	$	126	$	115
Commercial real estate		65		60		60		44		72		70
Residential mortgages		211		34		34		201		26		26
Credit card		14,583		83		85		17,589		94		95
Other retail		1,029		24		22		1,215		24		23
Total loans, excluding loans purchased from GNMA mortgage pools		18,026		444		417		20,785		342		329
Loans purchased from GNMA mortgage pools		2,913		408		398		3,093		418		403
Total loans		20,939	$	852	$	815		23,878	$	760	$	732

Residential mortgages, home equity and second mortgages, and loans purchased from GNMA mortgage pools in the table above include trial period arrangements offered to customers during the periods presented. The post-modification balances for these loans reflect the current outstanding balance until a permanent modification is made. In addition, the post-modification balances typically include capitalization of unpaid accrued interest and/or fees under the various modification programs.

For those loans modified as TDRs during the second quarter of 2020, at June 30, 2020, 29 residential mortgages, 13 home equity and second mortgage loans and 349 loans purchased from GNMA mortgage pools with outstanding balances of $8 million, $1 million and $48 million, respectively, were in a trial period and have estimated post-modification balances of $7 million, $1 million and $48 million, respectively, assuming permanent modification occurs at the end of the trial period.

The Company has implemented certain restructuring programs that may result in TDRs. However, many of the Company’s TDRs are also determined on a

case-by-case

basis in connection with ongoing loan collection processes.

For the commercial lending segment, modifications generally result in the Company working with borrowers on a

case

-by-case

basis. Commercial and commercial real estate modifications generally include extensions of the maturity date and may be accompanied by an increase or decrease to the interest rate, which may not be deemed a market interest rate. In addition, the Company may work with the borrower in identifying other changes that mitigate loss to the Company, which may include additional collateral or guarantees to support the loan. To a lesser extent, the Company may waive contractual principal. The Company classifies all of the above concessions as TDRs to the extent the Company determines that the borrower is experiencing financial difficulty.

Modifications for the consumer lending segment are generally part of programs the Company has initiated. The Company modifies residential mortgage loans under Federal Housing Administration, United States Department of Veterans Affairs, or its own internal programs. Under these programs, the Company offers qualifying homeowners the opportunity to permanently modify their loan and achieve more affordable monthly payments by providing loan concessions. These concessions may include adjustments to interest rates, conversion of adjustable rates to fixed rates,

extension of maturity dates or deferrals of payments, capitalization of accrued interest and/or outstanding advances, or in limited situations, partial forgiveness of loan principal. In most instances, participation in residential mortgage loan restructuring programs requires the customer to complete a short-term trial period. A permanent loan modification is contingent on the customer successfully completing the trial period arrangement, and the loan documents are not modified until that time. The Company reports loans in a trial period arrangement as TDRs and continues to report them as TDRs after the trial period.

Credit card and other retail loan TDRs are generally part of distinct restructuring programs providing customers experiencing financial difficulty with modifications whereby balances may be amortized up to 60 months, and generally include waiver of fees and reduced interest rates.

In addition, the Company considers secured loans to consumer borrowers that have debt discharged through bankruptcy where the borrower has not reaffirmed the debt to be TDRs.

Loan modifications or concessions granted to borrowers resulting directly from the effects of the COVID-19 pandemic, who were otherwise in current payment status, are not considered to be TDRs.

As of June 30, 2020, the Company had approved approximately $17.2 billion of loan modifications included on its consolidated balance sheet related to borrowers impacted by the

COVID-19

pandemic, consisting primarily of payment deferrals of 90 days or less.

The following table provides a summary of TDR loans that defaulted (fully or partially

charged-off

or became 90 days or more

past

due) during the periods presented that were modified as TDRs within 12 months previous to default:


	2020				2019
(Dollars in Millions)	Number of Loans		Amount Defaulted		Number of Loans		Amount Defaulted
Three Months Ended June 30
Commercial		330	$	8		252	$	4
Commercial real estate		12		6		7		4
Residential mortgages		5		1		15		3
Credit card		1,736		9		1,922		10
Other retail		82		1		80		1
Total loans, excluding loans purchased from GNMA mortgage pools		2,165		25		2,276		22
Loans purchased from GNMA mortgage pools		51		7		310		43
Total loans		2,216	$	32		2,586	$	65

Six Months Ended June 30
Commercial		617	$	28		486	$	9
Commercial real estate		28		16		15		10
Residential mortgages		18		2		111		13
Credit card		3,806		19		3,976		19
Other retail		190		2		227		8
Total loans, excluding loans purchased from GNMA mortgage pools		4,659		67		4,815		59
Loans purchased from GNMA mortgage pools		355		48		434		60
Total loans		5,014	$	115		5,249	$	119

In addition to the defaults in the table above, the Company had a total of 104 and 241 residential mortgage loans, home equity and second mortgage loans and loans purchased from GNMA mortgage pools for the three months and six months ended June 30, 2020, respectively, where borrowers did not successfully complete the trial period arrangement and, therefore, are no longer eligible for a permanent modification under the applicable modification program. These loans had aggregate outstanding balances of $15 million and $34 million for the three months and six months ended June 30, 2020, respectively.

As of June 30, 2020, the Company had $116 million of commitments to lend additional funds to borrowers whose terms of their outstanding owed balances have been modified in troubled debt restructurings.