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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income (loss) $ 688 $ (940) $ 113
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 262 304 164
Goodwill impairment 0 784 365
Provision for credit losses (570) 810 195
Deferred income tax provision 340 25 109
Net realized gains on securities available-for-sale (73) (137) (88)
Net change in other assets and liabilities 172 (839) 1,846
Net change in loans held for sale:      
Originations and purchases of loans held for sale (2,544) (3,044) (3,364)
Sales and collections of loans held for sale 2,699 3,001 3,271
Net change in trading assets and liabilities 867 3,330 (6,882)
Lower of amortized cost or fair value adjustments on loans held for sale 14 22 (1)
Loss (gain) on instruments designated at fair value and related derivatives (35) (34) 13
Net cash provided by (used in) operating activities 1,820 3,282 (4,259)
Cash flows from investing activities      
Net change in federal funds sold and securities purchased under agreements to resell 25,232 (17,908) (7,670)
Securities available-for-sale:      
Purchases of securities available-for-sale (18,501) (25,165) (24,829)
Proceeds from sales of securities available-for-sale 10,324 11,857 12,878
Proceeds from paydowns and maturities of securities available-for-sale 12,030 10,190 9,121
Securities held-to-maturity:      
Purchases of securities held-to-maturity 0 (515) (1,468)
Proceeds from sales of securities held-to-maturity 0 340 0
Proceeds from paydowns and maturities of securities held-to-maturity 3,747 4,415 2,803
Change in loans:      
Originations, net of collections (618) 5,312 (532)
Loans sold to third parties 2,758 916 1,209
Net cash provided by (used for) sales (acquisitions) of properties and equipment (3) 1 (61)
Net inflow related to the sale of certain private banking client relationships. 0 0 1
Other, net 103 (248) 119
Net cash provided by (used in) investing activities 35,072 (10,805) (8,429)
Cash flows from financing activities      
Net change in deposits (2,107) 20,110 8,287
Debt:      
Net change in short-term borrowings 1,386 1,293 (535)
Issuance of long-term debt 7,711 8,487 4,686
Repayment of long-term debt (10,044) (10,427) (10,705)
Return of capital to parent (1,000) 0 (2,400)
Other increases (decreases) in capital surplus (4) 10 0
Dividends paid (77) (77) (77)
Net cash provided by (used in) financing activities (4,135) 19,396 (744)
Net change in cash and due from banks and interest bearing deposits with banks 32,757 11,873 (13,432)
Cash and due from banks and interest bearing deposits with banks at beginning of period 15,655 [1] 3,782 [1] 17,214
Cash and due from banks and interest bearing deposits with banks at end of period [1] 48,412 15,655 3,782
Supplemental disclosure of cash flow information      
Interest paid during the period 606 1,518 2,921
Net income taxes paid (refunded) during the period (52) 50 159
Supplemental disclosure of non-cash investing activities      
Transfer of loans to held for sale, net 6,982 1,030 1,209
Fair value of properties added to real estate owned upon foreclosure 0 2 16
Supplemental disclosure of non-cash financing activities      
Recharacterization of long-term debt to time deposits $ 0 $ 5,000 $ 0
[1] Includes $58 million of cash which is reported in other branch related assets held for sale on the consolidated balance sheet at December 31, 2021.