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Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2013
Loans And Allowance For Credit Losses Tables [Abstract]  
Loans and Allowance for Credit Losses, Loans Outstanding
            
       December 31,
(in millions)  2013 2012201120102009
Commercial:      
 Commercial and industrial$ 197,210 187,759 167,216 151,284 158,352
 Real estate mortgage  107,100 106,340 105,975 99,435 97,527
 Real estate construction  16,747 16,904 19,382 25,333 36,978
 Lease financing  12,034 12,424 13,117 13,094 14,210
 Foreign (1)  47,665 37,771 39,760 32,912 29,398
  Total commercial  380,756 361,198 345,450 322,058 336,465
Consumer:      
 Real estate 1-4 family first mortgage  258,497 249,900 228,894 230,235 229,536
 Real estate 1-4 family junior lien mortgage  65,914 75,465 85,991 96,149 103,708
 Credit card  26,870 24,640 22,836 22,260 24,003
 Automobile  50,808 45,998 43,508 43,516 42,624
 Other revolving credit and installment  42,954 42,373 42,952 43,049 46,434
  Total consumer  445,043 438,376 424,181 435,209 446,305
   Total loans$ 825,799 799,574 769,631 757,267 782,770
            

  • Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower's primary address is outside of the United States.

 
Loans and Allowance for Credit Losses, Significant Activity
              
      Year ended December 31,
       2013  2012
(in millions)Commercial Consumer Total Commercial Consumer Total
Purchases (1)$ 10,914 581 11,495  12,280 167 12,447
Sales  (6,740) (514) (7,254)  (5,840) (840) (6,680)
Transfers to MHFS/LHFS (1)  (258) (11) (269)  (84) (21) (105)
          
              

  • The “Purchases” and “Transfers to MHFS/LHFS" categories exclude activity in government insured/guaranteed loans. As servicer, we are able to buy delinquent insured/guaranteed loans out of the Government National Mortgage Association (GNMA) pools. These loans have different risk characteristics from the rest of our consumer portfolio, whereby this activity does not impact the allowance for loan losses in the same manner because the loans are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). On a net basis, such purchases net of transfers to MHFS were $8.2 billion and $9.8 billion for the year ended 2013 and 2012, respectively.
Loans and Allowance for Credit Losses, Commitments to Lend
         
      Dec. 31,Dec. 31,
(in millions)  2013 2012
Commercial:   
 Commercial and industrial$ 238,962 215,626
 Real estate mortgage  5,910 6,165
 Real estate construction  12,593 9,109
 Foreign  12,216 8,423
  Total commercial  269,681 239,323
Consumer:   
 Real estate 1-4 family first mortgage  32,908 42,657
 Real estate 1-4 family   
  junior lien mortgage  47,668 50,934
 Credit card  78,961 70,960
 Other revolving credit and installment  24,213 19,791
  Total consumer  183,750 184,342
   Total unfunded   
    credit commitments$ 453,431 423,665
Loans and Allowance for Credit Losses, Allowance for Credit Losses
             
       Year ended December 31,
(in millions)   2013  2012 2011 2010 2009
Balance, beginning of year$ 17,477  19,668 23,463 25,031 21,711
Provision for credit losses  2,309  7,217 7,899 15,753 21,668
Interest income on certain impaired loans (1)  (264)  (315) (332) (266) -
Loan charge-offs:       
 Commercial:       
  Commercial and industrial  (715)  (1,306) (1,598) (2,775) (3,365)
  Real estate mortgage   (190)  (382) (636) (1,151) (670)
  Real estate construction  (28)  (191) (351) (1,189) (1,063)
  Lease financing  (33)  (24) (38) (120) (229)
  Foreign  (27)  (111) (173) (198) (237)
   Total commercial   (993)  (2,014) (2,796) (5,433) (5,564)
 Consumer:        
  Real estate 1-4 family first mortgage  (1,439)  (3,013) (3,883) (4,900) (3,318)
  Real estate 1-4 family junior lien mortgage  (1,578)  (3,437) (3,763) (4,934) (4,812)
  Credit card  (1,022)  (1,101) (1,449) (2,396) (2,708)
  Automobile  (625)  (651) (799) (1,308) (2,063)
  Other revolving credit and installment  (753)  (757) (925) (1,129) (1,360)
   Total consumer  (5,417)  (8,959) (10,819) (14,667) (14,261)
    Total loan charge-offs  (6,410)  (10,973) (13,615) (20,100) (19,825)
Loan recoveries:       
 Commercial:       
  Commercial and industrial  380  461 419 427 254
  Real estate mortgage   227  163 143 68 33
  Real estate construction   137  124 146 110 16
  Lease financing  16  19 24 20 20
  Foreign  27  32 45 53 40
   Total commercial   787  799 777 678 363
 Consumer:        
  Real estate 1-4 family first mortgage  245  157 405 522 185
  Real estate 1-4 family junior lien mortgage  269  259 218 211 174
  Credit card  126  185 251 218 180
  Automobile  321  362 439 499 564
  Other revolving credit and installment   153  177 226 219 191
   Total consumer  1,114  1,140 1,539 1,669 1,294
    Total loan recoveries  1,901  1,939 2,316 2,347 1,657
     Net loan charge-offs (2)  (4,509)  (9,034) (11,299) (17,753) (18,168)
Allowances related to business combinations/other (3)  (42)  (59) (63) 698 (180)
Balance, end of year$ 14,971  17,477 19,668 23,463 25,031
Components:        
 Allowance for loan losses$ 14,502  17,060 19,372 23,022 24,516
 Allowance for unfunded credit commitments  469  417 296 441 515
  Allowance for credit losses (4)$ 14,971  17,477 19,668 23,463 25,031
Net loan charge-offs as a percentage of average total loans (2)  0.56% 1.17 1.49 2.30 2.21
Allowance for loan losses as a percentage of total loans (4)  1.76  2.13 2.52 3.04 3.13
Allowance for credit losses as a percentage of total loans (4)  1.81  2.19 2.56 3.10 3.20
             

  • Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan's effective interest rate over the remaining life of the loan recognize reductions in the allowance as interest income.
  • For PCI loans, charge-offs are only recorded to the extent that losses exceed the purchase accounting estimates.
  • Includes $693 million for the year ended December 31, 2010, related to the adoption of consolidation accounting guidance on January 1, 2010.
  • The allowance for credit losses includes $30 million, $117 million, $231 million, $298 million and $333 million at December 31, 2013, 2012, 2011, 2010, and 2009, respectively, related to PCI loans acquired from Wachovia. Loans acquired from Wachovia are included in total loans net of related purchase accounting net write-downs.
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category
            
     Year ended December 31,
        2013    2012
(in millions)CommercialConsumerTotal CommercialConsumerTotal
Balance, beginning of period$ 5,714 11,763 17,477  6,358 13,310 19,668
 Provision for credit losses  671 1,638 2,309  666 6,551 7,217
 Interest income on certain impaired loans   (54) (210) (264)  (95) (220) (315)
            
 Loan charge-offs  (993) (5,417) (6,410)  (2,014) (8,959) (10,973)
 Loan recoveries  787 1,114 1,901  799 1,140 1,939
  Net loan charge-offs  (206) (4,303) (4,509)  (1,215) (7,819) (9,034)
 Allowance related to business combinations/other  (22) (20) (42)  - (59) (59)
Balance, end of period$ 6,103 8,868 14,971  5,714 11,763 17,477
            
Loans and Allowance for Credit Losses, by Impairment Methodology
            
     Allowance for credit losses Recorded investment in loans
(in millions) CommercialConsumerTotal CommercialConsumerTotal
            
December 31, 2013        
            
Collectively evaluated (1)$ 4,921 5,011 9,932  372,918 398,084 771,002
Individually evaluated (2)  1,156 3,853 5,009  5,334 22,736 28,070
PCI (3)  26 4 30  2,504 24,223 26,727
 Total$ 6,103 8,868 14,971  380,756 445,043 825,799
            
December 31, 2012 
        
Collectively evaluated (1)$ 3,951 7,524 11,475  349,035 389,559 738,594
Individually evaluated (2)  1,675 4,210 5,885  8,186 21,826 30,012
PCI (3)  88 29 117  3,977 26,991 30,968
 Total$ 5,714 11,763 17,477  361,198 438,376 799,574
            

  • Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans.
  • Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans.
  • Represents the allowance and related loan carrying value determined in accordance with ASC 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans.

 
Loans by Credit Quality Indicator
            
     CommercialRealReal   
      andestateestateLease  
(in millions) industrialmortgageconstructionfinancingForeignTotal
            
December 31, 2013       
            
By risk category:      
 Pass$ 182,072 94,992 14,594 11,577 44,208 347,443
 Criticized  14,923 10,972 1,720 457 2,737 30,809
  Total commercial loans (excluding PCI)  196,995 105,964 16,314 12,034 46,945 378,252
Total commercial PCI loans (carrying value)  215 1,136 433 - 720 2,504
   Total commercial loans $ 197,210 107,100 16,747 12,034 47,665 380,756
            
December 31, 2012       
            
By risk category:      
 Pass$ 169,293 87,183 12,224 11,787 35,380 315,867
 Criticized  18,207 17,187 3,803 637 1,520 41,354
  Total commercial loans (excluding PCI)  187,500 104,370 16,027 12,424 36,900 357,221
Total commercial PCI loans (carrying value)  259 1,970 877 - 871 3,977
   Total commercial loans $ 187,759 106,340 16,904 12,424 37,771 361,198
            
Loans by Delinquency Status, Commercial
            
     CommercialRealReal   
      and estateestateLease  
(in millions)industrialmortgageconstructionfinancingForeignTotal
            
December 31, 2013       
            
By delinquency status:       
 Current-29 DPD and still accruing$ 195,908 103,139 15,698 11,972 46,898 373,615
 30-89 DPD and still accruing  338 538 103 33 7 1,019
 90+ DPD and still accruing  11 35 97 - - 143
Nonaccrual loans  738 2,252 416 29 40 3,475
  Total commercial loans (excluding PCI)  196,995 105,964 16,314 12,034 46,945 378,252
Total commercial PCI loans (carrying value)  215 1,136 433 - 720 2,504
   Total commercial loans$ 197,210 107,100 16,747 12,034 47,665 380,756
            
December 31, 2012       
            
By delinquency status:       
 Current-29 DPD and still accruing$ 185,614 100,317 14,861 12,344 36,837 349,973
 30-89 DPD and still accruing  417 503 136 53 12 1,121
 90+ DPD and still accruing  47 228 27 - 1 303
Nonaccrual loans  1,422 3,322 1,003 27 50 5,824
  Total commercial loans (excluding PCI)  187,500 104,370 16,027 12,424 36,900 357,221
Total commercial PCI loans (carrying value)  259 1,970 877 - 871 3,977
   Total commercial loans$ 187,759 106,340 16,904 12,424 37,771 361,198
            
Loans by Delinquency Status, Consumer
            
      Real estateReal estate  Other 
      1-4 family1-4 family  revolving 
      first junior lienCredit credit and 
(in millions) mortgagemortgagecardAutomobileinstallmentTotal
            
December 31, 2013       
            
By delinquency status:      
 Current-29 DPD$ 193,361 64,194 26,203 49,699 31,866 365,323
 30-59 DPD  2,784 461 202 852 178 4,477
 60-89 DPD  1,157 253 144 186 111 1,851
 90-119 DPD  587 182 124 66 76 1,035
 120-179 DPD  747 216 196 4 20 1,183
 180+ DPD  5,024 485 1 1 7 5,518
Government insured/guaranteed loans (1)  30,737 - - - 10,696 41,433
 Total consumer loans (excluding PCI)  234,397 65,791 26,870 50,808 42,954 420,820
Total consumer PCI loans (carrying value)  24,100 123 - - - 24,223
  Total consumer loans$ 258,497 65,914 26,870 50,808 42,954 445,043
            
December 31, 2012       
            
By delinquency status:      
 Current-29 DPD$ 179,870 73,256 23,976 44,973 29,546 351,621
 30-59 DPD  3,295 577 211 798 168 5,049
 60-89 DPD  1,528 339 143 164 108 2,282
 90-119 DPD  853 265 122 57 73 1,370
 120-179 DPD  1,141 358 187 5 28 1,719
 180+ DPD  6,655 518 1 1 4 7,179
Government insured/guaranteed loans (1)  29,719 - - - 12,446 42,165
 Total consumer loans (excluding PCI)  223,061 75,313 24,640 45,998 42,373 411,385
Total consumer PCI loans (carrying value)  26,839 152 - - - 26,991
  Total consumer loans$ 249,900 75,465 24,640 45,998 42,373 438,376
            

  • Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA and student loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the Federal Family Education Loan Program (FFELP). Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $20.8 billion at December 31 2013, compared with $20.2 billion at December 31, 2012. Student loans 90+ DPD totaled $900 million at December 31, 2013, compared with $1.1 billion at December 31, 2012.
Loans by FICO Score, Consumer
            
      Real estateReal estate  Other 
      1-4 family1-4 family  revolving 
      first junior lienCredit credit and 
(in millions) mortgagemortgagecardAutomobileinstallmentTotal
            
December 31, 2013       
            
By updated FICO:      
 < 600$ 14,128 5,047 2,404 8,400 956 30,935
 600-639  9,030 3,247 2,175 5,925 1,015 21,392
 640-679  14,917 5,984 4,176 8,827 2,156 36,060
 680-719  24,336 10,042 5,398 8,992 3,914 52,682
 720-759  32,991 13,575 5,530 6,546 5,263 63,905
 760-799  72,062 19,238 4,535 6,313 6,828 108,976
 800+  33,311 7,705 2,408 5,397 5,127 53,948
No FICO available  2,885 953 244 408 1,992 6,482
FICO not required  - - - - 5,007 5,007
Government insured/guaranteed loans (1)  30,737 - - - 10,696 41,433
  Total consumer loans (excluding PCI)  234,397 65,791 26,870 50,808 42,954 420,820
Total consumer PCI loans (carrying value)  24,100 123 - - - 24,223
   Total consumer loans $ 258,497 65,914 26,870 50,808 42,954 445,043
            
December 31, 2012       
            
By updated FICO:      
 < 600$ 17,662 6,122 2,314 7,928 1,163 35,189
 600-639  10,208 3,660 1,961 5,451 952 22,232
 640-679  15,764 6,574 3,772 8,142 2,011 36,263
 680-719  24,725 11,361 4,990 7,949 3,691 52,716
 720-759  31,502 15,992 5,114 5,787 4,942 63,337
 760-799  63,946 21,874 4,109 5,400 6,971 102,300
 800+  26,044 8,526 2,223 4,443 1,912 43,148
No FICO available  3,491 1,204 157 898 2,882 8,632
FICO not required  - - - - 5,403 5,403
Government insured/guaranteed loans (1)  29,719 - - - 12,446 42,165
  Total consumer loans (excluding PCI)  223,061 75,313 24,640 45,998 42,373 411,385
Total consumer PCI loans (carrying value)  26,839 152 - - - 26,991
   Total consumer loans $ 249,900 75,465 24,640 45,998 42,373 438,376
            

  • Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA and student loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under FFELP.
Loans by Loan to Value Ratio, Consumer
             
      December 31, 2013 December 31, 2012
      Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
      mortgagemortgage  mortgagemortgage 
(in millions) by LTVby CLTVTotal by LTVby CLTVTotal
By LTV/CLTV:       
 0-60%$ 74,046 13,636 87,682  56,247 12,170 68,417
 60.01-80%  80,187 17,154 97,341  69,759 15,168 84,927
 80.01-100%  30,843 16,272 47,115  34,830 18,038 52,868
 100.01-120% (1)  10,678 9,992 20,670  17,004 13,576 30,580
 > 120% (1)  6,306 7,369 13,675  13,529 14,610 28,139
No LTV/CLTV available  1,600 1,368 2,968  1,973 1,751 3,724
Government insured/guaranteed loans (2)  30,737 - 30,737  29,719 - 29,719
  Total consumer loans (excluding PCI)  234,397 65,791 300,188  223,061 75,313 298,374
Total consumer PCI loans (carrying value)  24,100 123 24,223  26,839 152 26,991
   Total consumer loans$ 258,497 65,914 324,411  249,900 75,465 325,365
             

  • Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.
  • Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.

 

 
Nonaccrual Loans
         
      Dec. 31,Dec. 31,
(in millions)  2013 2012
Commercial:   
 Commercial and industrial$ 738 1,422
 Real estate mortgage  2,252 3,322
 Real estate construction  416 1,003
 Lease financing  29 27
 Foreign  40 50
  Total commercial (1)  3,475 5,824
Consumer:   
 Real estate 1-4 family first mortgage (2) 9,799 11,455
 Real estate 1-4 family junior lien mortgage 2,188 2,922
 Automobile  173 245
 Other revolving credit and installment 33 40
  Total consumer  12,193 14,662
   Total nonaccrual loans  
    (excluding PCI)$ 15,668 20,486
         

  • Includes LHFS of $1 million and $16 million at December 31, 2013 and December 31, 2012, respectively.
  • Includes MHFS of $227 million and $336 million at December 31, 2013 and December 31, 2012, respectively.
90 days or More Past Due and Still Accruing Loans
         
      December 31,
(in millions) 2013 2012
Loan 90 days or more past due and still accruing:   
Total (excluding PCI):$ 23,21923,245
 Less: FHA insured/VA guaranteed (1)(2) 21,27420,745
 Less: Student loans guaranteed   
  under the FFELP (3)  9001,065
   Total, not government    
    insured/guaranteed$ 1,0451,435
         
By segment and class, not government    
 insured/guaranteed:  
Commercial:   
 Commercial and industrial$ 1147
 Real estate mortgage  35228
 Real estate construction  9727
 Foreign  -1
  Total commercial  143303
Consumer:   
 Real estate 1-4 family first mortgage (2)  354564
 Real estate 1-4 family junior lien mortgage (2) 86133
 Credit card  321310
 Automobile  5540
 Other revolving credit and installment  8685
  Total consumer  9021,132
   Total, not government    
    insured/guaranteed$ 1,0451,435
         

  • Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.
  • Includes mortgage loans held for sale 90 days or more past due and still accruing.
  • Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP.
Impaired Loans
          
       Recorded investment 
        Impaired loans 
      Unpaid  with relatedRelated
      principalImpairedallowance forallowance for
(in millions) balance loanscredit lossescredit losses
          
December 31, 2013     
          
Commercial:      
 Commercial and industrial$ 2,016 1,274 1,024 223
 Real estate mortgage  4,269 3,375 3,264 819
 Real estate construction  946 615 589 101
 Lease financing  71 33 33 8
 Foreign  44 37 37 5
  Total commercial (1)  7,346 5,334 4,947 1,156
Consumer:     
 Real estate 1-4 family first mortgage  22,450 19,500 13,896 3,026
 Real estate 1-4 family junior lien mortgage  3,130 2,582 2,092 681
 Credit card  431 431 431 132
 Automobile  245 189 95 11
 Other revolving credit and installment  44 34 27 3
  Total consumer (2)  26,300 22,736 16,541 3,853
   Total impaired loans (excluding PCI) $ 33,646 28,070 21,488 5,009
          
December 31, 2012     
          
Commercial:      
 Commercial and industrial$ 3,331 2,086 2,086 353
 Real estate mortgage  5,766 4,673 4,537 1,025
 Real estate construction  1,975 1,345 1,345 276
 Lease financing  54 39 39 11
 Foreign  109 43 43 9
  Total commercial (1)  11,235 8,186 8,050 1,674
Consumer:     
 Real estate 1-4 family first mortgage  21,293 18,472 15,224 3,074
 Real estate 1-4 family junior lien mortgage  2,855 2,483 2,070 859
 Credit card  531 531 531 244
 Automobile  314 314 314 27
 Other revolving credit and installment  27 26 26 6
  Total consumer (2)  25,020 21,826 18,165 4,210
   Total impaired loans (excluding PCI) $ 36,255 30,012 26,215 5,884
          

  • Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment.
  • At December 31, 2013 and December 31, 2012, includes the recorded investment of $2.5 billion and $1.9 billion, respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance.

 
Impaired Loans, Average Recorded Investment and Interest Income
              
       Year ended December 31,
        2013   2012   2011
      AverageRecognized AverageRecognized AverageRecognized
      recordedinterest recordedinterest recordedinterest
(in millions) investmentincome investmentincome investmentincome
Commercial:          
 Commercial and industrial$ 1,475 94  2,281 111  3,282 105
 Real estate mortgage  3,842 141  4,821 119  5,308 80
 Real estate construction  966 35  1,818 61  2,481 70
 Lease financing  38 1  57 1  80 -
 Foreign  33 -  36 1  29 -
  Total commercial  6,354 271  9,013 293  11,180 255
Consumer:         
 Real estate 1-4 family first mortgage  19,419 973  15,750 803  13,592 700
 Real estate 1-4 family         
  junior lien mortgage  2,498 143  2,193 80  1,962 76
 Credit card  480 57  572 63  594 21
 Automobile  232 29  299 42  244 26
 Other revolving credit and installment  30 3  25 2  26 1
  Total consumer (1)  22,659 1,205  18,839 990  16,418 824
   Total impaired loans (excluding PCI)$ 29,013 1,476  27,852 1,283  27,598 1,079
              

         
     Year ended December 31,
(in millions)  2013 2012 2011
Average recorded investment in impaired loans$ 29,013 27,852 27,598
Interest income:    
Cash basis of accounting$ 426 316 180
Other (2)  1,050 967 899
 Total interest income$ 1,476 1,283 1,079
         

  • Years ended December 31, 2013 and 2012, reflect the OCC guidance issued in third quarter 2012, which requires consumer loans discharged in bankruptcy to be classified as TDRs, as well as written down to net realizable collateral value.
  • Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. See footnote 1 to the table of changes in the allowance for credit losses.
Troubled Debt Restructurings, Modification by Type
 
                
      Primary modification type (1) Financial effects of modifications
            Weighted Recorded
            average investment
       Interest    interest related to
       rateOther  Charge-rate interest rate
(in millions)Principal (2)reductionconcessions (3)Total offs (4)reduction reduction (5)
                
Year ended December 31, 2013         
Commercial:           
 Commercial and industrial$ 4 176 1,081 1,261  17 4.71%$ 176
 Real estate mortgage  33 307 1,391 1,731  8 1.66   308
 Real estate construction  - 12 381 393  4 1.07   12
 Lease financing  - - - -  - -   -
 Foreign  15 1 - 16  - -   1
  Total commercial  52 496 2,853 3,401  29 2.72   497
Consumer:           
 Real estate 1-4 family first mortgage  1,143 1,170 3,681 5,994  233 2.64   2,019
 Real estate 1-4 family junior lien mortgage  103 181 472 756  42 3.33   276
 Credit card  - 182 - 182  - 10.38   182
 Automobile  3 12 97 112  34 7.66   12
 Other revolving credit and installment  - 10 12 22  - 4.87   10
 Trial modifications (6)  - - 50 50  - -   -
  Total consumer  1,249 1,555 4,312 7,116  309 3.31   2,499
   Total$ 1,301 2,051 7,165 10,517  338 3.21%$ 2,996
                
Year ended December 31, 2012         
Commercial:           
 Commercial and industrial$ 11 35 1,370 1,416  40 1.60%$ 38
 Real estate mortgage  47 219 1,907 2,173  12 1.57   226
 Real estate construction  12 19 531 562  10 1.69   19
 Lease financing  - - 4 4  - -   -
 Foreign  - - 19 19  - -   -
  Total commercial  70 273 3,831 4,174  62 1.58   283
Consumer:           
 Real estate 1-4 family first mortgage  1,371 1,302 5,822 8,495  547 3.00   2,379
 Real estate 1-4 family junior lien mortgage  79 244 756 1,079  512 3.70   313
 Credit card  - 241 - 241  - 10.85   241
 Automobile   5 54 265 324  50 6.90   56
 Other revolving credit and installment  - 1 22 23  5 4.29   2
 Trial modifications (6)  - - 666 666  - -   -
  Total consumer  1,455 1,842 7,531 10,828  1,114 3.78   2,991
   Total$ 1,525 2,115 11,362 15,002  1,176 3.59%$ 3,274
                
Year ended December 31, 2011         
Commercial:           
 Commercial and industrial$ 166 64 2,412 2,642  84 3.13%$ 69
 Real estate mortgage  113 146 1,894 2,153  24 1.46   160
 Real estate construction  29 114 421 564  26 0.81   125
 Lease financing  - - 57 57  - -   -
 Foreign  - - 22 22  - -   -
  Total commercial  308 324 4,806 5,438  134 1.55   354
Consumer:           
 Real estate 1-4 family first mortgage  1,629 1,908 934 4,471  293 3.27   3,322
 Real estate 1-4 family junior lien mortgage  98 559 197 854  28 4.34   654
 Credit card  - 336 - 336  2 10.77   260
 Automobile   73 115 3 191  23 6.39   177
 Other revolving credit and installment  1 4 4 9  1 5.00   4
 Trial modifications (6)  - - 651 651  - -   -
  Total consumer  1,801 2,922 1,789 6,512  347 4.00   4,417
   Total$ 2,109 3,246 6,595 11,950  481 3.82%$ 4,771
                
(1) Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs may have multiple types of concessions, but are presented only once in the first modification type based on the order presented in the table above. The reported amounts include loans remodified of $3.1 billion, $3.9 billion and $496 million, for the years ended December 31, 2013, 2012 and 2011, respectively, which reflect the impact of the prospective adoption of the OCC guidance issued in 2012.
(2)Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate.
(3)Other concessions include loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the interest rate. Years ended December 2013 and 2012 includes $4.0 billion and $5.2 billion of consumer loans discharged in bankruptcy, respectively, as a result of the OCC guidance implementation. The OCC guidance issued in third quarter 2012 required consumer loans discharged in bankruptcy to be classified as TDRs, as well as written down to net realizable collateral value.
(4)Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $393 million, $495 million and $577 million for the years ended December 31, 2013, 2012 and 2011, respectively.
(5)Reflects the effect of reduced interest rates on loans with principal or interest rate reduction primary modification type.
(6)Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period.
  
Troubled Debt Restructuring, Current Defaults
         
        
      Recorded investment of defaults
       Year ended December 31,
(in millions)  2013 20122011
Commercial:    
 Commercial and industrial$ 234 379 216
 Real estate mortgage  303 579 331
 Real estate construction  70 261 69
 Lease financing  - 1 1
 Foreign  1 - 1
  Total commercial  608 1,220 618
Consumer:    
 Real estate 1-4 family first mortgage  370 567 1,110
 Real estate 1-4 family junior lien mortgage 34 55 137
 Credit card  59 94 156
 Automobile  18 55 110
 Other revolving credit and installment 1 1 3
  Total consumer  482 772 1,516
   Total$ 1,090 1,992 2,134
    
Purchased Credit Impaired Loans, Loans Outstanding
         
      December 31,
(in millions)  2013 2012 2008
Commercial:     
 Commercial and industrial$ 215 259 4,580
 Real estate mortgage  1,136 1,970 5,803
 Real estate construction  433 877 6,462
 Foreign  720 871 1,859
  Total commercial  2,504 3,977 18,704
Consumer:    
 Real estate 1-4 family first mortgage  24,100 26,839 39,214
 Real estate 1-4 family junior lien mortgage  123 152 728
 Automobile  - - 151
  Total consumer  24,223 26,991 40,093
   Total PCI loans (carrying value)$ 26,727 30,968 58,797
Total PCI loans (unpaid principal balance)$ 38,229 45,174 98,182
         
Purchased Credit Impaired Loans, Accretable Yield
            
        Year ended December 31,
(in millions)  2013 2012 2011 2010 2009
Total, beginning of year$ 18,548 15,961 16,714 14,559 10,447
 Addition of accretable yield due to acquisitions  1 3 128 - -
 Accretion into interest income (1)  (1,833) (2,152) (2,206) (2,392) (2,601)
 Accretion into noninterest income due to sales (2)  (151) (5) (189) (43) (5)
 Reclassification from nonaccretable difference for loans with improving credit-related cash flows  971 1,141 373 3,399 441
 Changes in expected cash flows that do not affect nonaccretable difference (3)  (144) 3,600 1,141 1,191 6,277
Total, end of year$ 17,392 18,548 15,961 16,714 14,559
            

  • Includes accretable yield released as a result of settlements with borrowers, which is included in interest income.
  • Includes accretable yield released as a result of sales to third parties, which is included in noninterest income.
  • Represents changes in cash flows expected to be collected due to the impact of modifications, changes in prepayment assumptions, changes in interest rates on variable rate PCI loans and sales to third parties. The decline in expected interest cash flows in 2013 is primarily attributable to a decline in variable rate indices applicable to these loans, an increase in prepayment estimates, and updated estimates for interest collections attributable to loan modification activities.
Purchased Credit Impaired Loans, Allowance for Credit Losses
        
      Other 
(in millions) CommercialPick-a-PayconsumerTotal
Balance, December 31, 2008$ - - - -
 Provision for losses due to credit deterioration  850 - 3 853
 Charge-offs   (520) - - (520)
Balance, December 31, 2009  330 - 3 333
 Provision for losses due to credit deterioration  712 - 59 771
 Charge-offs   (776) - (30) (806)
Balance, December 31, 2010  266 - 32 298
 Provision for losses due to credit deterioration  106 - 54 160
 Charge-offs   (207) - (20) (227)
Balance, December 31, 2011  165 - 66 231
 Provision for losses due to credit deterioration  25 - 7 32
 Charge-offs   (102) - (44) (146)
Balance, December 31, 2012  88 - 29 117
 Reversal of provision for losses  (52) - (16) (68)
 Charge-offs   (10) - (9) (19)
Balance, December 31, 2013$ 26 - 4 30
        
Purchased Credit Impaired Loans by Credit Quality Indicator
           
     CommercialRealReal  
      andestateestate  
(in millions) industrialmortgageconstructionForeignTotal
           
December 31, 2013      
           
By risk category:     
 Pass$ 118 316 160 8 602
 Criticized  97 820 273 712 1,902
  Total commercial PCI loans$ 215 1,136 433 720 2,504
           
December 31, 2012      
      
By risk category:     
 Pass$ 95 341 207 255 898
 Criticized  164 1,629 670 616 3,079
  Total commercial PCI loans$ 259 1,970 877 871 3,977
           
Purchased Credit Impaired Loans by Delinquency Status, Commercial
           
 CommercialRealReal  
      and estateestate  
(in millions) industrialmortgageconstructionForeignTotal
           
December 31, 2013      
           
By delinquency status:     
 Current-29 DPD and still accruing$ 210 1,052 355 632 2,249
 30-89 DPD and still accruing  5 41 2 - 48
 90+ DPD and still accruing  - 43 76 88 207
  Total commercial PCI loans$ 215 1,136 433 720 2,504
           
December 31, 2012      
           
By delinquency status:     
 Current-29 DPD and still accruing$ 235 1,804 699 704 3,442
 30-89 DPD and still accruing  1 26 51 - 78
 90+ DPD and still accruing  23 140 127 167 457
  Total commercial PCI loans$ 259 1,970 877 871 3,977
           
Purchased Credit Impaired Loans by Delinquency Status, Consumer
             
      December 31, 2013 December 31, 2012
      Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
(in millions) mortgagemortgageTotal mortgagemortgageTotal
By delinquency status:        
 Current-29 DPD and still accruing$ 20,712 171 20,883  22,304 198 22,502
 30-59 DPD and still accruing  2,185 8 2,193  2,587 11 2,598
 60-89 DPD and still accruing  1,164 4 1,168  1,361 7 1,368
 90-119 DPD and still accruing  457 2 459  650 6 656
 120-179 DPD and still accruing  517 4 521  804 7 811
 180+ DPD and still accruing  4,291 95 4,386  5,356 116 5,472
  Total consumer PCI loans (adjusted unpaid principal balance)$ 29,326 284 29,610  33,062 345 33,407
  Total consumer PCI loans (carrying value)$ 24,100 123 24,223  26,839 152 26,991
             
Purchased Credit Impaired Loans by FICO Score, Consumer
             
      December 31, 2013 December 31, 2012
      Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
(in millions) mortgagemortgageTotal mortgagemortgageTotal
By FICO:   
 < 600$ 9,933 101 10,034  13,163 144 13,307
 600-639  6,029 60 6,089  6,673 68 6,741
 640-679  6,789 70 6,859  6,602 73 6,675
 680-719  3,732 35 3,767  3,635 39 3,674
 720-759  1,662 11 1,673  1,757 11 1,768
 760-799  865 5 870  874 6 880
 800+  198 1 199  202 1 203
No FICO available  118 1 119  156 3 159
  Total consumer PCI loans (adjusted unpaid principal balance)$ 29,326 284 29,610  33,062 345 33,407
  Total consumer PCI loans (carrying value)$ 24,100 123 24,223  26,839 152 26,991
             
Purchased Credit Impaired Loans by Loan to Value Ratio, Consumer
             
      December 31, 2013 December 31, 2012
     Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
      mortgagemortgage  mortgagemortgage 
(in millions) by LTVby CLTVTotal by LTVby CLTVTotal
By LTV/CLTV:        
 0-60%$ 2,501 32 2,533  1,374 21 1,395
 60.01-80%  8,541 42 8,583  4,119 30 4,149
 80.01-100%  10,366 88 10,454  9,576 61 9,637
 100.01-120% (1)  4,677 67 4,744  8,084 93 8,177
 > 120% (1)  3,232 54 3,286  9,889 138 10,027
No LTV/CLTV available  9 1 10  20 2 22
  Total consumer PCI loans (adjusted unpaid principal balance)$ 29,326 284 29,610  33,062 345 33,407
  Total consumer PCI loans (carrying value)$ 24,100 123 24,223  26,839 152 26,991
             

  • Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.