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Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
Allowance for Credit Loss
The following table provides information regarding changes in the total allowance for credit losses during the three and six months ended June 30, 2021 and 2020.
TABLE 52: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES
THREE MONTHS ENDED JUNE 30, 2021
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$165.4 $55.1 $8.6 $1.7 $230.8 
Charge-Offs— — — — — 
Recoveries3.2 — — — 3.2 
Net Recoveries (Charge-Offs)3.2 — — — 3.2 
Provision for Credit Losses(19.8)(8.6)1.9 (0.5)(27.0)
Balance at End of Period$148.8 $46.5 $10.5 $1.2 $207.0 
SIX MONTHS ENDED JUNE 30, 2021
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$190.7 $61.1 $7.3 $0.8 $259.9 
Charge-Offs(0.4)— — — (0.4)
Recoveries4.5 — — — 4.5 
Net Recoveries (Charge-Offs)4.1 — — — 4.1 
Provision for Credit Losses(46.0)(14.6)3.2 0.4 (57.0)
Balance at End of Period$148.8 $46.5 $10.5 $1.2 $207.0 


THREE MONTHS ENDED JUNE 30, 2020
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$147.2 $40.4 $9.5 $1.1 $198.2 
Charge-Offs(0.4)— — — (0.4)
Recoveries3.0 — — — 3.0 
Net Recoveries (Charge-Offs) 2.6 — — — 2.6 
Provision for Credit Losses(1)
60.4 8.6 (3.0)0.2 66.2 
Balance at End of Period$210.2 $49.0 $6.5 $1.3 $267.0 
(1) The table excluded a $0.2 million release of credit reserves for the three months ended June 30, 2020 for AFS corporate debt securities, which reduced the ending allowance for credit losses for AFS corporate debt securities to zero at June 30, 2020. See further detail in Note 4 - Securities.
SIX MONTHS ENDED JUNE 30, 2020
(In Millions)LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at End of Prior Period$104.5 $19.9 $— $— $124.4 
Cumulative Effect Adjustment(2.2)8.9 6.6 0.4 13.7 
Balance at Beginning of Period$102.3 $28.8 $6.6 $0.4 $138.1 
Charge-Offs(2.2)— — — (2.2)
Recoveries4.1 — — — 4.1 
Net Recoveries (Charge-Offs)1.9 — — — 1.9 
Provision for Credit Losses106.0 20.2 (0.1)0.9 127.0 
Balance at End of Period$210.2 $49.0 $6.5 $1.3 $267.0 
The following table provides information regarding changes in the total allowance for credit losses, including undrawn loan commitments and standby letters of credit, by segment during the three and six months ended June 30, 2021 and 2020.
TABLE 53: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO LOANS AND LEASES
THREE MONTHS ENDED JUNE 30, 2021
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$124.7 $40.7 $165.4 $51.7 $3.4 $55.1 
Charge-Offs— — — — — — 
Recoveries0.5 2.7 3.2 — — — 
Net Recoveries (Charge-Offs)0.5 2.7 3.2 — — — 
Provision for Credit Losses(7.2)(12.6)(19.8)(8.1)(0.5)(8.6)
Balance at End of Period$118.0 $30.8 $148.8 $43.6 $2.9 $46.5 
SIX MONTHS ENDED JUNE 30, 2021
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$142.2 $48.5 $190.7 $57.6 $3.5 $61.1 
Charge-Offs— (0.4)(0.4)— — — 
Recoveries0.5 4.0 4.5 — — — 
Net Recoveries (Charge-Offs) 0.5 3.6 4.1 — — — 
Provision for Credit Losses(24.7)(21.3)(46.0)(14.0)(0.6)(14.6)
Balance at End of Period$118.0 $30.8 $148.8 $43.6 $2.9 $46.5 
THREE MONTHS ENDED JUNE 30, 2020
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$94.7 $52.5 $147.2 $38.8 $1.6 $40.4 
Charge-Offs— (0.4)(0.4)— — — 
Recoveries1.3 1.7 3.0 — — — 
Net Recoveries (Charge-Offs)1.3 1.3 2.6 — — — 
Provision for Credit Losses66.8 (6.4)60.4 7.3 1.3 8.6 
Balance at End of Period$162.8 $47.4 $210.2 $46.1 $2.9 $49.0 
SIX MONTHS ENDED JUNE 30, 2020
LOANS AND LEASESUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at End of Prior Period$58.1 $46.4 $104.5 $15.8 $4.1 $19.9 
Cumulative Effect Adjustment(5.9)3.7 (2.2)11.9 (3.0)8.9 
Balance at Beginning of Period52.2 50.1 102.3 27.7 1.1 28.8 
Charge-Offs(0.1)(2.1)(2.2)— — — 
Recoveries2.0 2.1 4.1 — — — 
Net Recoveries (Charge-Offs)1.9 — 1.9 — — — 
Provision for Credit Losses108.7 (2.7)106.0 18.4 1.8 20.2 
Balance at End of Period$162.8 $47.4 $210.2 $46.1 $2.9 $49.0 
The following table provides information regarding the recorded investments in loans and leases and the allowance for credit losses for loans and leases and undrawn loan commitments and standby letters of credit by segment as of June 30, 2021 and December 31, 2020.
TABLE 54: RECORDED INVESTMENTS IN LOANS AND LEASES
JUNE 30, 2021DECEMBER 31, 2020
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Loans and Leases
Evaluated on an Individual Basis$56.0 $50.5 $106.5 $66.6 $65.1 $131.7 
Evaluated on a Collective Basis16,151.7 21,148.4 37,300.1 15,195.4 18,432.6 33,628.0 
Total Loans and Leases16,207.7 21,198.9 37,406.6 15,262.0 18,497.7 33,759.7 
Allowance for Credit Losses on Credit Exposures
Evaluated on an Individual Basis10.6 0.3 10.9 8.8 0.3 9.1 
Evaluated on a Collective Basis107.4 30.5 137.9 133.4 48.2 181.6 
Allowance Assigned to Loans and Leases118.0 30.8 148.8 142.2 48.5 190.7 
Allowance for Undrawn Loan Commitments and Standby Letters of Credit
Evaluated on an Individual Basis— — — 1.6 — 1.6 
Evaluated on a Collective Basis43.6 2.9 46.5 56.0 3.5 59.5 
Allowance Assigned to Undrawn Loan Commitments and Standby Letters of Credit43.6 2.9 46.5 57.6 3.5 61.1 
Total Allowance Assigned to Loans and Leases and Undrawn Loan Commitments and Standby Letters of Credit$161.6 $33.7 $195.3 $199.8 $52.0 $251.8 
Debt Securities, Held-to-maturity, Allowance for Credit Loss The following table provides information regarding changes in the total allowance for credit losses for HTM debt securities during the three and six months ended June 30, 2021 and 2020.
TABLE 55: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO HELD TO MATURITY DEBT SECURITIES
THREE MONTHS ENDED JUNE 30, 2021
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPERNATIONAL, AND NON-U.S. AGENCY BONDSCERTIFICATE OF DEPOSITSCOVERED BONDSOTHERTOTAL
Balance at Beginning of Period$1.1 $0.9 $1.8 $— $0.1 $4.7 $8.6 
Provision for Credit Losses0.5 0.6 0.8 — — — 1.9 
Balance at End of Period$1.6 $1.5 $2.6 $— $0.1 $4.7 $10.5 
SIX MONTHS ENDED JUNE 30, 2021
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPERNATIONAL, AND NON-U.S. AGENCY BONDSCERTIFICATE OF DEPOSITSCOVERED BONDSOTHERTOTAL
Balance at Beginning of Period$0.8 $0.2 $1.2 $— $0.1 $5.0 $7.3 
Provision for Credit Losses0.8 1.3 1.4 — — (0.3)3.2 
Balance at End of Period$1.6 $1.5 $2.6 $— $0.1 $4.7 $10.5 
THREE MONTHS ENDED JUNE 30, 2020
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPERNATIONAL, AND NON-U.S. AGENCY BONDSCERTIFICATE OF DEPOSITSCOVERED BONDSOTHERTOTAL
Balance at Beginning of Period$2.7 $0.4 $1.3 $0.2 $0.1 $4.8 $9.5 
Provision for Credit Losses(2.2)— (0.6)(0.2)(0.1)0.1 (3.0)
Balance at End of Period$0.5 $0.4 $0.7 $— $— $4.9 $6.5 
SIX MONTHS ENDED JUNE 30, 2020
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPERNATIONAL, AND NON-U.S. AGENCY BONDSOTHERTOTAL
Balance at End of Prior Period$— $— $— $— $— 
Cumulative Effect Adjustment0.8 0.3 0.9 4.6 6.6 
Balance at Beginning of Period0.8 0.3 0.9 4.6 6.6 
Provision for Credit Losses(0.3)0.1 (0.2)0.3 (0.1)
Balance at End of Period$0.5 $0.4 $0.7 $4.9 $6.5 
Schedule of Accrued Liabilities
The following table provides the amount of accrued interest excluded from the amortized cost basis of the following portfolios.
TABLE 56: ACCRUED INTEREST
(In Millions)JUNE 30, 2021DECEMBER 31, 2020
Loans and Leases$58.8 $55.3 
Debt Securities
Held to Maturity40.2 26.5 
Available for Sale136.7 153.6 
Other Financial Assets2.1 1.4 
Total$237.8 $236.8