Loans (Tables)

3 Months Ended

Mar. 31, 2024

Accounts, Notes, Loans and Financing Receivable [Line Items]

Components of Loans

Loans consisted of the following:

	March 31, 2024		December 31, 2023
	(in millions)
Commercial loans:
Real estate, including construction	$	7,071	$	7,087
Business and corporate banking	16,047		15,724
Global banking(1)	10,522		10,725
Other commercial:
Affiliates(2)	3,442		2,618
Other	3,223		3,803
Total other commercial	6,665		6,421
Total commercial	40,305		39,957
Consumer loans:
Residential mortgages	18,825		18,341
Home equity mortgages	382		389
Credit cards	189		199
Other consumer(3)	96		101
Total consumer	19,492		19,030
Total loans	$	59,797	$	58,987

(1)Represents large multinational firms including globally focused U.S. corporate and financial institutions, U.S. dollar lending to multinational banking clients managed by HSBC on a global basis and complex large business clients supported by Global Banking and Markets relationship managers.

(2)See Note 12, "Related Party Transactions," for additional information regarding loans to HSBC affiliates.

(3)Includes certain student loans that we have elected to designate under the fair value option and are therefore carried at fair value, which totaled $14 million and $15 million at March 31, 2024 and December 31, 2023, respectively. See Note 9, "Fair Value Option," for further details.

Summary of Past Due Status of Loans

The following table summarizes the past due status of our loans at March 31, 2024 and December 31, 2023. The aging of past due amounts is determined based on the contractual delinquency status of payments under the loan. An account is generally considered to be contractually delinquent when payments have not been made in accordance with the loan terms. Delinquency status is affected by customer account management policies and practices such as re-age, which results in the re-setting of the contractual delinquency status to current.

	Past Due				Total Past Due 30 Days or More
	30 - 89 Days		90+ Days				Current(1)		Total Loans
	(in millions)
At March 31, 2024
Commercial loans:
Real estate, including construction	$	7	$	205	$	212	$	6,859	$	7,071
Business and corporate banking	1		3		4		16,043		16,047
Global banking	23		4		27		10,495		10,522
Other commercial	36		—		36		6,629		6,665
Total commercial	67		212		279		40,026		40,305
Consumer loans:
Residential mortgages	163		91		254		18,571		18,825
Home equity mortgages	3		3		6		376		382
Credit cards	2		3		5		184		189
Other consumer	8		2		10		86		96
Total consumer	176		99		275		19,217		19,492
Total loans	$	243	$	311	$	554	$	59,243	$	59,797
At December 31, 2023
Commercial loans:
Real estate, including construction	$	—	$	206	$	206	$	6,881	$	7,087
Business and corporate banking	1		3		4		15,720		15,724
Global banking	—		1		1		10,724		10,725
Other commercial	350		—		350		6,071		6,421
Total commercial	351		210		561		39,396		39,957
Consumer loans:
Residential mortgages	174		91		265		18,076		18,341
Home equity mortgages	12		3		15		374		389
Credit cards	3		3		6		193		199
Other consumer	3		2		5		96		101
Total consumer	192		99		291		18,739		19,030
Total loans	$	543	$	309	$	852	$	58,135	$	58,987

(1)Loans less than 30 days past due are presented as current.

Summary of Nonaccrual Loans and Accruing Receivables 90 Days or More Delinquent

Nonperforming loans, including nonaccrual loans and accruing loans contractually 90 days or more past due, consisted of the following:

	Nonaccrual Loans		Accruing Loans Contractually Past Due 90 Days or More		Nonaccrual Loans With No Allowance For Credit Losses
	(in millions)
At March 31, 2024
Commercial loans:
Real estate, including construction	$	228	$	—	$	41
Business and corporate banking	170		—		34
Global banking	246		—		44
Total commercial	644		—		119
Consumer loans:
Residential mortgages(1)(2)(3)	167		—		77
Home equity mortgages(1)(2)	6		—		5
Credit cards	—		3		—
Other consumer	—		1		—
Total consumer	173		4		82
Total nonperforming loans	$	817	$	4	$	201
At December 31, 2023
Commercial loans:
Real estate, including construction	$	229	$	—	$	40
Business and corporate banking	143		1		29
Global banking	49		—		48
Other commercial	3		—		2
Total commercial	424		1		119
Consumer loans:
Residential mortgages(1)(2)(3)	172		—		81
Home equity mortgages(1)(2)	6		—		5
Credit cards	—		3		—
Other consumer	—		2		—
Total consumer	178		5		86
Total nonperforming loans	$	602	$	6	$	205

(1)At March 31, 2024 and December 31, 2023, nonaccrual consumer mortgage loans include $103 million and $108 million, respectively, of loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell.

(2)Nonaccrual consumer mortgage loans include all loans which are 90 or more days contractually delinquent as well as loans discharged under Chapter 7 bankruptcy and not re-affirmed and second lien loans where the first lien loan that we own or service is 90 or more days contractually delinquent.

(3)Nonaccrual consumer mortgage loans for all periods does not include guaranteed loans purchased from the Government National Mortgage Association. Repayment of these loans is predominantly insured by the Federal Housing Administration and as such, these loans have different risk characteristics from the rest of our consumer loan portfolio.

Summary of Modified Loans

The following table presents information about loan payment modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2024 and 2023 by type of modification, including the period-end carrying value and as a percentage of total loans. During the three months ended March 31, 2024, loan payment modifications made to consumer borrowers experiencing financial difficulty were nil.

	Interest Rate Reduction		Principal Forgiveness		Term Extension / Significant Payment Deferral		Combination(1)		Total		% of Total Loans
	(dollars are in millions)
Three Months Ended March 31, 2024
Commercial loans:
Business and corporate banking	$	—	$	—	$	65	$	—	$	65	.4	%
Total commercial	$	—	$	—	$	65	$	—	$	65	.2
Three Months Ended March 31, 2023
Commercial loans:
Real estate, including construction	$	—	$	—	$	96	$	—	$	96	1.2	%
Business and corporate banking	—		—		49		12		61		.4
Total commercial	—		—		145		12		157		.4
Consumer loans:
Residential mortgages(2)	—		—		—		1		1		.0
Credit cards	—		—		1		—		1		.5
Total consumer	—		—		1		1		2		.0
Total	$	—	$	—	$	146	$	13	$	159	.3

(1)Represents loans with more than one type of payment modification during the period.

(2)During the three months ended March 31, 2023, the carrying value of consumer mortgage loans with a payment modification included loans that were carried at the lower of amortized cost or fair value of the collateral less cost to sell.

The following table summarizes the financial effect of loan payment modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2024 and 2023 by type of modification:

	Weighted-Average Interest Rate Reduction		Principal Forgiven (in millions)		Weighted-Average Term Extension / Payment Deferral (in years)
Three Months Ended March 31, 2024
Commercial loans:
Business and corporate banking	—	%	$	—	1.8
Three Months Ended March 31, 2023
Commercial loans:
Real estate, including construction	—	%	$	—	0.4
Business and corporate banking	—		2		2.3
Consumer loans:
Residential mortgages	3.0		—		7.6
Credit cards	—		—		0.5

The following table presents loans to borrowers experiencing financial difficulty with a payment modification during the previous 12 months which subsequently became 90 days or greater contractually delinquent during the three months ended March 31, 2024 by type of modification:

	Interest Rate Reduction		Principal Forgiveness		Term Extension / Significant Payment Deferral		Combination(1)		Total
	(in millions)
Three Months Ended March 31, 2024
Commercial loans:
Global banking	$	—	$	—	$	1	$	—	$	1
Total commercial	$	—	$	—	$	1	$	—	$	1

(1)Represents loans with more than one type of payment modification during the period.

Summary of Past Due Status of Loans with Payment Modification

The following table presents the past due status of loans to borrowers experiencing financial difficulty with a payment modification during the previous 12 months at March 31, 2024 and December 31, 2023:

	Past Due
	30 - 89 Days		90+ Days		Current(1)		Total
	(in millions)
At March 31, 2024
Commercial loans:
Real estate, including construction	$	—	$	166	$	3	$	169
Business and corporate banking	—		—		409		409
Global banking	—		1		42		43
Total commercial	—		167		454		621
Consumer loans:
Residential mortgages	—		—		12		12
Total consumer	—		—		12		12
Total loans	$	—	$	167	$	466	$	633
At December 31, 2023
Commercial loans:
Real estate, including construction	$	—	$	166	$	2	$	168
Business and corporate banking	—		—		398		398
Global banking	—		—		50		50
Total commercial	—		166		450		616
Consumer loans:
Residential mortgages	—		—		12		12
Total consumer	—		—		12		12
Total loans	$	—	$	166	$	462	$	628

(1)Loans less than 30 days past due are presented as current.

Commercial loans

Accounts, Notes, Loans and Financing Receivable [Line Items]

Summary of Criticized Commercial Loans

The following table summarizes our criticized commercial loans, including a disaggregation of the loans by year of origination as of March 31, 2024 and December 31, 2023:

	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total at Mar. 31, 2024
	(in millions)
Real estate, including construction:
Special mention	$	32	$	—	$	39	$	—	$	35	$	42	$	3	$	3	$	154
Substandard	4		11		—		—		—		872		—		—		887
Doubtful	—		—		—		—		—		166		17		—		183
Total real estate, including construction	36		11		39		—		35		1,080		20		3		1,224
Business and corporate banking:
Special mention	34		22		114		34		3		148		221		8		584
Substandard	24		64		21		—		27		149		767		9		1,061
Doubtful	—		—		—		34		—		14		82		—		130
Total business and corporate banking	58		86		135		68		30		311		1,070		17		1,775
Global banking:
Special mention	—		—		—		—		—		45		41		99		185
Substandard	—		—		2		—		20		107		131		—		260
Doubtful	—		—		—		—		—		194		9		—		203
Total global banking	—		—		2		—		20		346		181		99		648
Total commercial	$	94	$	97	$	176	$	68	$	85	$	1,737	$	1,271	$	119	$	3,647
Total commercial:
Special mention	$	66	$	22	$	153	$	34	$	38	$	235	$	265	$	110	$	923
Substandard	28		75		23		—		47		1,128		898		9		2,208
Doubtful	—		—		—		34		—		374		108		—		516
Total commercial	$	94	$	97	$	176	$	68	$	85	$	1,737	$	1,271	$	119	$	3,647

	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total at Dec. 31, 2023
	(in millions)
Real estate, including construction:
Special mention	$	—	$	40	$	—	$	104	$	92	$	42	$	3	$	3	$	284
Substandard	2		—		—		1		—		821		—		—		824
Doubtful	—		—		—		—		—		166		18		—		184
Total real estate, including construction	2		40		—		105		92		1,029		21		3		1,292
Business and corporate banking:
Special mention	38		103		12		4		20		126		296		8		607
Substandard	31		22		—		27		—		156		746		1		983
Doubtful	—		—		36		—		—		9		71		—		116
Total business and corporate banking	69		125		48		31		20		291		1,113		9		1,706
Global banking:
Special mention	—		—		—		—		—		45		62		—		107
Substandard	—		14		—		—		—		114		73		—		201
Doubtful	—		187		—		—		14		—		1		—		202
Total global banking	—		201		—		—		14		159		136		—		510
Other commercial:
Special mention	6		—		—		—		—		—		—		—		6
Substandard	38		—		—		—		—		—		—		—		38
Doubtful	—		—		—		—		—		—		3		—		3
Total other commercial	44		—		—		—		—		—		3		—		47
Total commercial	$	115	$	366	$	48	$	136	$	126	$	1,479	$	1,273	$	12	$	3,555
Total commercial:
Special mention	$	44	$	143	$	12	$	108	$	112	$	213	$	361	$	11	$	1,004
Substandard	71		36		—		28		—		1,091		819		1		2,046
Doubtful	—		187		36		—		14		175		93		—		505
Total commercial	$	115	$	366	$	48	$	136	$	126	$	1,479	$	1,273	$	12	$	3,555

Summary of Nonperforming Status

The following table summarizes the nonperforming status of our commercial loan portfolio, including a disaggregation of the loans by year of origination as of March 31, 2024 and December 31, 2023:

	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total at Mar. 31, 2024
	(in millions)
Real estate, including construction:
Performing loans	$	164	$	982	$	1,286	$	1,040	$	319	$	3,030	$	19	$	3	$	6,843
Nonaccrual loans	—		—		—		—		—		207		21		—		228
Total real estate, including construction	164		982		1,286		1,040		319		3,237		40		3		7,071
Business and corporate banking:
Performing loans	237		1,284		1,028		1,273		224		4,438		7,120		273		15,877
Nonaccrual loans	—		—		—		34		—		54		82		—		170
Total business and corporate banking	237		1,284		1,028		1,307		224		4,492		7,202		273		16,047
Global banking:
Performing loans	82		2,162		1,128		761		204		3,563		2,326		50		10,276
Nonaccrual loans	—		—		—		—		—		233		13		—		246
Total global banking	82		2,162		1,128		761		204		3,796		2,339		50		10,522
Other commercial:
Performing loans	15		164		278		209		633		1,163		4,203		—		6,665
Total other commercial	15		164		278		209		633		1,163		4,203		—		6,665
Total commercial	$	498	$	4,592	$	3,720	$	3,317	$	1,380	$	12,688	$	13,784	$	326	$	40,305
Total commercial:
Performing loans	$	498	$	4,592	$	3,720	$	3,283	$	1,380	$	12,194	$	13,668	$	326	$	39,661
Nonaccrual loans	—		—		—		34		—		494		116		—		644
Total commercial	$	498	$	4,592	$	3,720	$	3,317	$	1,380	$	12,688	$	13,784	$	326	$	40,305

	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total at Dec. 31, 2023
	(in millions)
Real estate, including construction:
Performing loans	$	920	$	1,286	$	1,019	$	355	$	1,014	$	2,242	$	19	$	3	$	6,858
Nonaccrual loans	—		—		—		—		40		167		22		—		229
Total real estate, including construction	920		1,286		1,019		355		1,054		2,409		41		3		7,087
Business and corporate banking:
Performing loans	1,270		1,113		1,074		231		561		4,215		6,851		265		15,580
Nonaccrual loans	—		35		—		—		—		38		70		—		143
Accruing loans contractually past due 90 days or more	—		—		—		—		—		—		1		—		1
Total business and corporate banking	1,270		1,148		1,074		231		561		4,253		6,922		265		15,724
Global banking:
Performing loans	2,255		1,153		844		151		321		3,561		2,341		50		10,676
Nonaccrual loans	—		—		—		—		—		39		10		—		49
Total global banking	2,255		1,153		844		151		321		3,600		2,351		50		10,725
Other commercial:
Performing loans	211		281		313		651		418		804		3,740		—		6,418
Nonaccrual loans	—		—		—		—		—		3		—		—		3
Total other commercial	211		281		313		651		418		807		3,740		—		6,421
Total commercial	$	4,656	$	3,868	$	3,250	$	1,388	$	2,354	$	11,069	$	13,054	$	318	$	39,957
Total commercial:
Performing loans	$	4,656	$	3,833	$	3,250	$	1,388	$	2,314	$	10,822	$	12,951	$	318	$	39,532
Nonaccrual loans	—		35		—		—		40		247		102		—		424
Accruing loans contractually past due 90 days or more	—		—		—		—		—		—		1		—		1
Total commercial	$	4,656	$	3,868	$	3,250	$	1,388	$	2,354	$	11,069	$	13,054	$	318	$	39,957

Summary of Credit Quality Indicators

The following table summarizes the credit risk profile of our commercial loan portfolio, including a disaggregation of the loans by year of origination as of March 31, 2024 and December 31, 2023:

	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total at Mar. 31, 2024
	(in millions)
Real estate, including construction:
Investment grade	$	—	$	324	$	99	$	23	$	172	$	1,094	$	1	$	—	$	1,713
Non-investment grade	164		658		1,187		1,017		147		2,143		39		3		5,358
Total real estate, including construction	164		982		1,286		1,040		319		3,237		40		3		7,071
Business and corporate banking:
Investment grade	73		533		333		562		93		2,086		3,287		63		7,030
Non-investment grade	164		751		695		745		131		2,406		3,915		210		9,017
Total business and corporate banking	237		1,284		1,028		1,307		224		4,492		7,202		273		16,047
Global banking:
Investment grade	82		1,868		973		651		173		2,970		1,963		—		8,680
Non-investment grade	—		294		155		110		31		826		376		50		1,842
Total global banking	82		2,162		1,128		761		204		3,796		2,339		50		10,522
Other commercial:
Investment grade	15		162		150		43		403		832		3,955		—		5,560
Non-investment grade	—		2		128		166		230		331		248		—		1,105
Total other commercial	15		164		278		209		633		1,163		4,203		—		6,665
Total commercial	$	498	$	4,592	$	3,720	$	3,317	$	1,380	$	12,688	$	13,784	$	326	$	40,305
Total commercial:
Investment grade	$	170	$	2,887	$	1,555	$	1,279	$	841	$	6,982	$	9,206	$	63	$	22,983
Non-investment grade	328		1,705		2,165		2,038		539		5,706		4,578		263		17,322
Total commercial	$	498	$	4,592	$	3,720	$	3,317	$	1,380	$	12,688	$	13,784	$	326	$	40,305

	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total at Dec. 31, 2023
	(in millions)
Real estate, including construction:
Investment grade	$	327	$	100	$	24	$	187	$	162	$	939	$	1	$	—	$	1,740
Non-investment grade	593		1,186		995		168		892		1,470		40		3		5,347
Total real estate, including construction	920		1,286		1,019		355		1,054		2,409		41		3		7,087
Business and corporate banking:
Investment grade	732		304		543		95		261		1,977		3,311		54		7,277
Non-investment grade	538		844		531		136		300		2,276		3,611		211		8,447
Total business and corporate banking	1,270		1,148		1,074		231		561		4,253		6,922		265		15,724
Global banking:
Investment grade	1,947		1,109		651		149		307		2,842		2,140		—		9,145
Non-investment grade	308		44		193		2		14		758		211		50		1,580
Total global banking	2,255		1,153		844		151		321		3,600		2,351		50		10,725
Other commercial:
Investment grade	211		192		43		376		298		564		3,143		—		4,827
Non-investment grade	—		89		270		275		120		243		597		—		1,594
Total other commercial	211		281		313		651		418		807		3,740		—		6,421
Total commercial	$	4,656	$	3,868	$	3,250	$	1,388	$	2,354	$	11,069	$	13,054	$	318	$	39,957
Total commercial:
Investment grade	$	3,217	$	1,705	$	1,261	$	807	$	1,028	$	6,322	$	8,595	$	54	$	22,989
Non-investment grade	1,439		2,163		1,989		581		1,326		4,747		4,459		264		16,968
Total commercial	$	4,656	$	3,868	$	3,250	$	1,388	$	2,354	$	11,069	$	13,054	$	318	$	39,957

The following table summarizes gross charge-off dollars in our commercial loan portfolio, disaggregated by year of origination, during the three months ended March 31, 2024 and 2023:

	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
	(in millions)
Three Months Ended March 31, 2024
Business and corporate banking	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	—	$	1
Total commercial	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	—	$	1
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
	(in millions)
Three Months Ended March 31, 2023
Business and corporate banking	$	—	$	—	$	—	$	—	$	—	$	2	$	3	$	—	$	5
Total commercial	$	—	$	—	$	—	$	—	$	—	$	2	$	3	$	—	$	5

Consumer loans

Accounts, Notes, Loans and Financing Receivable [Line Items]

Summary of Nonperforming Status

The following table summarizes the nonperforming status of our consumer loan portfolio, including a disaggregation of the loans by year of origination as of March 31, 2024 and December 31, 2023:

	2024		2023		2022		2021		2020		Prior		Revolving Loans		Total at Mar. 31, 2024
	(in millions)
Residential mortgages:
Performing loans	$	799	$	2,569	$	2,732	$	4,061	$	2,727	$	5,770	$	—	$	18,658
Nonaccrual loans	—		—		10		10		10		137		—		167
Total residential mortgages	799		2,569		2,742		4,071		2,737		5,907		—		18,825
Home equity mortgages:
Performing loans	10		80		69		10		20		187		—		376
Nonaccrual loans	—		—		—		—		—		6		—		6
Total home equity mortgages	10		80		69		10		20		193		—		382
Credit cards:
Performing loans	—		—		—		—		—		—		186		186
Accruing loans contractually past due 90 days or more	—		—		—		—		—		—		3		3
Total credit cards	—		—		—		—		—		—		189		189
Other consumer:
Performing loans	—		—		7		9		6		65		8		95
Accruing loans contractually past due 90 days or more	—		—		—		—		—		1		—		1
Total other consumer	—		—		7		9		6		66		8		96
Total consumer	$	809	$	2,649	$	2,818	$	4,090	$	2,763	$	6,166	$	197	$	19,492
Total consumer:
Performing loans	$	809	$	2,649	$	2,808	$	4,080	$	2,753	$	6,022	$	194	$	19,315
Nonaccrual loans	—		—		10		10		10		143		—		173
Accruing loans contractually past due 90 days or more	—		—		—		—		—		1		3		4
Total consumer	$	809	$	2,649	$	2,818	$	4,090	$	2,763	$	6,166	$	197	$	19,492

	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total at Dec. 31, 2023
	(in millions)
Residential mortgages:
Performing loans	$	2,646	$	2,753	$	4,096	$	2,761	$	1,236	$	4,677	$	—	$	18,169
Nonaccrual loans	—		11		11		9		8		133		—		172
Total residential mortgages	2,646		2,764		4,107		2,770		1,244		4,810		—		18,341
Home equity mortgages:
Performing loans	80		69		11		22		25		176		—		383
Nonaccrual loans	—		—		—		—		—		6		—		6
Total home equity mortgages	80		69		11		22		25		182		—		389
Credit cards:
Performing loans	—		—		—		—		—		—		196		196
Accruing loans contractually past due 90 days or more	—		—		—		—		—		—		3		3
Total credit cards	—		—		—		—		—		—		199		199
Other consumer:
Performing loans	—		8		7		7		3		67		7		99
Accruing loans contractually past due 90 days or more	—		—		—		—		—		2		—		2
Total other consumer	—		8		7		7		3		69		7		101
Total consumer	$	2,726	$	2,841	$	4,125	$	2,799	$	1,272	$	5,061	$	206	$	19,030
Total consumer:
Performing loans	$	2,726	$	2,830	$	4,114	$	2,790	$	1,264	$	4,920	$	203	$	18,847
Nonaccrual loans	—		11		11		9		8		139		—		178
Accruing loans contractually past due 90 days or more	—		—		—		—		—		2		3		5
Total consumer	$	2,726	$	2,841	$	4,125	$	2,799	$	1,272	$	5,061	$	206	$	19,030

Summary of Credit Quality Indicators

The following table summarizes dollars of two-months-and-over contractual delinquency for our consumer loan portfolio, including a disaggregation of the loans by year of origination as of March 31, 2024 and December 31, 2023:

	2024		2023		2022		2021		2020		Prior		Revolving Loans		Total at Mar. 31, 2024
	(in millions)
Residential mortgages(1)(2)	$	—	$	—	$	7	$	6	$	7	$	96	$	—	$	116
Home equity mortgages(1)(2)	—		—		—		—		—		4		—		4
Credit cards	—		—		—		—		—		—		4		4
Other consumer	—		—		—		—		1		1		—		2
Total consumer	$	—	$	—	$	7	$	6	$	8	$	101	$	4	$	126

	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total at Dec. 31, 2023
	(in millions)
Residential mortgages(1)(2)	$	—	$	2	$	6	$	6	$	1	$	100	$	—	$	115
Home equity mortgages(1)(2)	—		—		—		—		—		4		—		4
Credit cards	—		—		—		—		—		—		4		4
Other consumer	—		—		—		—		—		2		—		2
Total consumer	$	—	$	2	$	6	$	6	$	1	$	106	$	4	$	125

(1)At March 31, 2024 and December 31, 2023, consumer mortgage loan delinquency includes $58 million and $61 million, respectively, of loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell.

(2)At March 31, 2024 and December 31, 2023, consumer mortgage loans include $28 million and $21 million, respectively, of loans that were in the process of foreclosure.

The following table summarizes gross charge-off dollars in our consumer loan portfolio, disaggregated by year of origination, during the three months ended March 31, 2024 and 2023:

	2024		2023		2022		2021		2020		Prior		Revolving Loans		Total
	(in millions)
Three Months Ended March 31, 2024
Credit cards	$	—	$	—	$	—	$	—	$	—	$	—	$	2	$	2
Total consumer	$	—	$	—	$	—	$	—	$	—	$	—	$	2	$	2
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total
	(in millions)
Three Months Ended March 31, 2023
Residential mortgages	$	—	$	—	$	—	$	—	$	—	$	3	$	—	$	3
Home equity mortgages	—		—		—		—		—		1		—		1
Credit cards	—		—		—		—		—		—		2		2
Total consumer	$	—	$	—	$	—	$	—	$	—	$	4	$	2	$	6