Shareholders' Equity

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Shareholders' Equity

19. Shareholders' Equity

Comprehensive Capital Plan

In July 2021, the Board of Directors authorized the repurchase of up to $1.5 billion of our Common Shares effective through the third quarter of 2022. In the second quarter of 2021, under our previous authorization pursuant to our 2020 capital plan, we completed $300 million of Common Share repurchases, including $299 million of Common Share repurchases in the open market and $1 million of Common Share repurchases related to employee equity compensation programs.

Consistent with our 2020 capital plan, the Board declared a quarterly dividend of $.185 per Common Share for the second quarter of 2021. Common Share repurchases and Common Share dividends paid during the second quarter are consistent with the Federal Reserve’s second quarter capital distribution limitations.

Preferred Stock

Preferred stock series	Amount outstanding (in millions)		Shares authorized and outstanding	Par value		Liquidation preference		Ownership interest per depositary share	Liquidation preference per depositary share		Second quarter 2021 dividends paid per depositary share
Fixed-to-Floating Rate Perpetual Noncumulative Series D	$	525	21,000	$	1	$	25,000	1/25th	$	1,000	$	12.50
Fixed-to-Floating Rate Perpetual Noncumulative Series E	500		500,000	1		1,000		1/40th	25		.382813
Fixed Rate Perpetual Noncumulative Series F	425		425,000	1		1,000		1/40th	25		.353125
Fixed Rate Perpetual Non-Cumulative Series G	450		450,000	1		1,000		1/40th	25		.351563