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Goodwill and Mortgage Servicing Rights (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by Business Segment
Allocations of Goodwill by business segment at December 31, 2022, 2021 and 2020 follow:

Table 62: Goodwill by Business Segment
In millionsRetail BankingCorporate & Institutional BankingAsset Management GroupTotal
Balance as of December 31, 2022$6,473 $4,325 $189 $10,987 
   Other71 71 
Balance as of December 31, 2021$6,473 $4,254 $189 $10,916 
BBVA acquisition678 796 125 1,599 
Other 84 84 
Balance as of December 31, 2020$5,795 $3,374 $64 $9,233 
Commercial Mortgage Servicing Rights
Changes in the commercial MSRs follow:

Table 63: Commercial Mortgage Servicing Rights
In millions202220212020
January 1$740 $569 $649 
Additions:
From loans sold with servicing retained62 87 100 
Purchases46 41 44 
Changes in fair value due to:
Time and payoffs (a)(208)(119)(115)
Other (b)473 162 (109)
December 31$1,113 $740 $569 
Related unpaid principal balance at December 31$281,277 $272,556 $243,960 
Servicing advances at December 31$421 $463 $437 
(a)Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments, prepayments and loans paid off during the period.
(b)Represents MSR value changes resulting primarily from market-driven changes in interest rates.
Mortgage Servicing Rights Changes in the residential MSRs follow:
Table 64: Residential Mortgage Servicing Rights
In millions202220212020
January 1$1,078 $673 $995 
Additions:
BBVA Acquisition 35
From loans sold with servicing retained57 87 45 
Purchases897 411 208 
Changes in fair value due to:
Time and payoffs (a)(231)(320)(198)
Other (b)509 192 (377)
December 31$2,310 $1,078 $673 
Unpaid principal balance of loans serviced for others at December 31$189,831 $132,953 $120,778 
Servicing advances at December 31$165 $176 $143 
(a)Represents decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan principal payments, prepayments and loans paid off during the period.
(b)Represents MSR value changes resulting from market-driven changes in interest rates.
Commercial Mortgage Loan Servicing Assets - Key Valuation Assumptions The following tables set forth the fair value of commercial and residential MSRs and the sensitivity analysis of the hypothetical effect on the fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions:
Table 65: Commercial Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millionsDecember 31, 2022December 31, 2021
Fair value$1,113$740
Weighted-average life (years)4.04.2
Weighted-average constant prepayment rate4.28%5.49%
Decline in fair value from 10% adverse change$8$12
Decline in fair value from 20% adverse change$15$21
Effective discount rate9.77%7.75%
Decline in fair value from 10% adverse change$34$20
Decline in fair value from 20% adverse change$68$40
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions
Table 66: Residential Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millionsDecember 31, 2022December 31, 2021 
Fair value$2,310  $1,078  
Weighted-average life (years)8.0 5.7 
Weighted-average constant prepayment rate6.72 %12.63 %
Decline in fair value from 10% adverse change$55  $46  
Decline in fair value from 20% adverse change$107  $89  
Weighted-average option adjusted spread766 bps857 bps
Decline in fair value from 10% adverse change$69  $31  
Decline in fair value from 20% adverse change$134  $60