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Allowance for Credit Losses
 6 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Allowance for Credit Losses
 Allowance for Credit Losses
 

The following table summarizes the changes in the allowance for credit losses by product and the related loan balance by product during the three and six months ended June 30, 2014 and 2013:
 
Commercial
 
Consumer
 
 
  
Construction
and Other
Real Estate
 
Business
and Corporate Banking
 
Global
Banking
 
Other
Comm’l
 
Residential
Mortgages
 
Home
Equity
Mortgages
 
Credit
Card
 
Other
Consumer
 
Total
 
(in millions)
Three Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
93

 
$
129

 
$
67

 
$
19

 
$
156

 
$
52

 
$
45

 
$
13

 
$
574

Provision charged (credited) to income
6

 
56

 
29

 
(9
)
 
7

 
(8
)
 
4

 
—

 
85

Charge offs
(5
)
 
(6
)
 
—

 
—

 
(19
)
 
(3
)
 
(12
)
 
(3
)
 
(48
)
Recoveries
—

 
1

 
—

 
3

 
5

 
1

 
2

 
1

 
13

Net (charge offs) recoveries
(5
)
 
(5
)
 
—

 
3

 
(14
)
 
(2
)
 
(10
)
 
(2
)
 
(35
)
Allowance for credit losses – end of period
$
94

 
$
180

 
$
96

 
$
13

 
$
149

 
$
42

 
$
39

 
$
11

 
$
624

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
116

 
$
96

 
$
40

 
$
17

 
$
192

 
$
50

 
$
42

 
$
15

 
$
568

Provision charged (credited) to income
(14
)
 
15

 
29

 
(4
)
 
14

 
13

 
13

 
1

 
67

Charge offs
(1
)
 
(9
)
 
—

 
—

 
(13
)
 
(11
)
 
(11
)
 
(3
)
 
(48
)
Recoveries
9

 
1

 
—

 
4

 
3

 
—

 
1

 
—

 
18

Net (charge offs) recoveries
8

 
(8
)
 
—

 
4

 
(10
)
 
(11
)
 
(10
)
 
(3
)
 
(30
)
Allowance for credit losses – end of period
$
110

 
$
103

 
$
69

 
$
17

 
$
196

 
$
52

 
$
45

 
$
13

 
$
605

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
108

 
$
112

 
$
68

 
$
20

 
$
186

 
$
49

 
$
50

 
$
13

 
$
606

Provision charged (credited) to income
8

 
75

 
36

 
(13
)
 
(9
)
 
(6
)
 
9

 
1

 
101

Charge offs
(24
)
 
(11
)
 
(8
)
 
—

 
(36
)
 
(8
)
 
(23
)
 
(5
)
 
(115
)
Recoveries
2

 
4

 
—

 
6

 
8

 
7

 
3

 
2

 
32

Net (charge offs) recoveries
(22
)
 
(7
)
 
(8
)
 
6

 
(28
)
 
(1
)
 
(20
)
 
(3
)
 
(83
)
Allowance for credit losses – end of period
$
94

 
$
180

 
$
96

 
$
13

 
$
149

 
$
42

 
$
39

 
$
11

 
$
624

Ending balance: collectively evaluated for impairment
$
90

 
$
172

 
$
96

 
$
11

 
$
93

 
$
40

 
$
37

 
$
11

 
$
550

Ending balance: individually evaluated for impairment
4

 
8

 
—

 
2

 
56

 
2

 
2

 
—

 
74

Total allowance for credit losses
$
94

 
$
180

 
$
96

 
$
13

 
$
149

 
$
42

 
$
39

 
$
11

 
$
624

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
9,469

 
$
15,913

 
$
24,268

 
$
3,117

 
$
14,290

 
$
1,895

 
$
673

 
$
473

 
$
70,098

Individually evaluated for impairment(1)
213

 
43

 
—

 
10

 
215

 
19

 
8

 
—

 
508

Loans carried at lower of amortized cost or fair value less cost to sell
—

 
—

 
—

 
—

 
1,592

 
—

 
—

 
—

 
1,592

Total loans
$
9,682

 
$
15,956

 
$
24,268

 
$
3,127

 
$
16,097

 
$
1,914

 
$
681

 
$
473

 
$
72,198

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Consumer
 
 
  
Construction
and Other
Real Estate
 
Business
and Corporate Banking
 
Global
Banking
 
Other
Comm’l
 
Residential
Mortgages
 
Home
Equity
Mortgages
 
Credit
Card
 
Other
Consumer
 
Total
 
(in millions)
Six Months Ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for credit losses – beginning of period
$
162

 
$
97

 
$
41

 
$
17

 
$
210

 
$
45

 
$
55

 
$
20

 
$
647

Provision charged (credited) to income
(5
)
 
17

 
28

 
(4
)
 
11

 
30

 
11

 
—

 
88

Charge offs
(59
)
 
(15
)
 
—

 
—

 
(29
)
 
(23
)
 
(23
)
 
(9
)
 
(158
)
Recoveries
12

 
4

 
—

 
4

 
4

 
—

 
2

 
2

 
28

Net (charge offs) recoveries
(47
)
 
(11
)
 
—

 
4

 
(25
)
 
(23
)
 
(21
)
 
(7
)
 
(130
)
Allowance for credit losses – end of period
$
110

 
$
103

 
$
69

 
$
17

 
$
196

 
$
52

 
$
45

 
$
13

 
$
605

Ending balance: collectively evaluated for impairment
$
84

 
$
91

 
$
69

 
$
17

 
$
122

 
$
49

 
$
41

 
$
13

 
$
486

Ending balance: individually evaluated for impairment
26

 
12

 
—

 
—

 
74

 
3

 
4

 
—

 
119

Total allowance for credit losses
$
110

 
$
103

 
$
69

 
$
17

 
$
196

 
$
52

 
$
45

 
$
13

 
$
605

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
8,064

 
$
12,323

 
$
23,321

 
$
2,941

 
$
14,057

 
$
2,151

 
$
847

 
$
574

 
$
64,278

Individually evaluated for impairment(1)
465

 
68

 
18

 
64

 
212

 
21

 
11

 
—

 
859

Loans carried at lower of amortized cost or fair value less cost to sell
—

 
—

 
—

 
—

 
1,568

 
—

 
—

 
—

 
1,568

Total loans
$
8,529

 
$
12,391

 
$
23,339

 
$
3,005

 
$
15,837

 
$
2,172

 
$
858

 
$
574

 
$
66,705

 
(1) 
For consumer loans and certain small business loans, these amounts represent TDR Loans for which we evaluate reserves using a discounted cash flow methodology. Each loan is individually identified as a TDR Loan and then grouped together with other TDR Loans with similar characteristics. The discounted cash flow analysis is then applied to these groups of TDR Loans. Loans individually evaluated for impairment exclude TDR loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell which totaled $725 million and $657 million at June 30, 2014 and 2013, respectively.