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Asset Quality (Tables)
 9 Months Ended
Sep. 30, 2021
Credit Loss [Abstract]  
Financing Receivable, Allowance for Credit Loss The changes in the ALLL by loan category for the periods indicated are as follows:
Three months ended September 30, 2021:
Dollars in millionsJune 30, 2021ProvisionCharge-offsRecoveriesSeptember 30, 2021
Commercial and Industrial $499 $(30)$(27)$20 $462 
Commercial real estate:
Real estate — commercial mortgage227 (44)— 1 184 
Real estate — construction35 (8)— — 27 
Total commercial real estate loans262 (52)— 1 211 
Commercial lease financing34 (7)(1)6 32 
Total commercial loans795 (89)(28)27 705 
Real estate — residential mortgage86 (1)2 1 88 
Home equity loans136 (13)(1)2 124 
Consumer direct loans115 (5)(7)2 105 
Credit cards68 (4)(6)1 59 
Consumer indirect loans20 5 (26)4 3 
Total consumer loans425 (18)(38)10 379 
Total ALLL — continuing operations1,220 (107)

(66)37 1,084 
Discontinued operations30 (1)(1)1 29 
Total ALLL — including discontinued operations$1,250 $(108)$(67)$38 $1,113 


Three months ended September 30, 2020:
Dollars in millionsJune 30, 2020ProvisionCharge-offsRecoveriesSeptember 30, 2020
Commercial and Industrial $725 $177 $(101)$9 $810 
Commercial real estate:
Real estate — commercial mortgage292 (2)(13)2 279 
Real estate — construction41 (7)— — 34 
Total commercial real estate loans333 (9)(13)2 313 
Commercial lease financing55 13 (10)— 58 
Total commercial loans1,113 181 (124)11 1,181 
Real estate — residential mortgage101 2 — 1 104 
Home equity loans197 (13)(4)3 183 
Consumer direct loans130 1 (8)2 125 
Credit cards107 (5)(9)2 95 
Consumer indirect loans60 (16)(6)4 42 
Total consumer loans595 (31)(27)12 549 
Total ALLL — continuing operations1,708 150 
(a)
(151)23 1,730 
Discontinued operations43 (1)— — 42 
Total ALLL — including discontinued operations$1,751 $149 $(151)$23 $1,772 
(a)Excludes a provision for losses on lending-related commitments of $10 million.
Nine months ended September 30, 2021
Dollars in millionsDecember 31, 2020ProvisionCharge-offsRecoveriesSeptember 30, 2021
Commercial and Industrial $678 $(135)$(141)$60 $462 
Commercial real estate:
Real estate — commercial mortgage327 (112)(39)8 184 
Real estate — construction47 (20)— — 27 
Total commercial real estate loans374 (132)— — 211 
Commercial lease financing47 (17)(5)7 32 
Total commercial loans1,099 (284)(185)75 705 
Real estate — residential mortgage102 (17)1 2 88 
Home equity loans171 (44)(7)4 124 
Consumer direct loans128 (7)(22)6 105 
Credit cards87 (13)(21)6 59 
Consumer indirect loans39 (12)(38)14 3 
Total consumer loans527 (93)(87)32 379 
Total ALLL — continuing operations1,626 (377)
(a)
(272)107 1,084 
Discontinued operations36 (6)(3)2 29 
Total ALLL — including discontinued operations$1,662 $(383)$(275)$109 $1,113 
(a)Excludes a credit for losses on lending-related commitments of $45 million


Nine months ended September 30, 2020
Dollars in millionsDecember 31, 2019Impact of ASC 326 AdoptionJanuary 1, 2020ProvisionCharge-offsRecoveriesSeptember 30, 2020
Commercial and Industrial $551 $(141)$410 $613 $(232)$19 $810 
Commercial real estate:
Real estate — commercial mortgage143 16 159 135 (18)3 279 
Real estate — construction22 (7)15 19 — — 34 
Total commercial real estate loans165 9 174 154 (18)3 313 
Commercial lease financing35 8 43 30 (16)1 58 
Total commercial loans751 (124)627 797 (266)23 1,181 
Real estate — residential mortgage7 77 84 21 (2)1 104 
Home equity loans31 147 178 9 (10)6 183 
Consumer direct loans34 63 97 52 (30)6 125 
Credit cards47 35 82 39 (32)6 95 
Consumer indirect loans30 6 36 16 (22)12 42 
Total consumer loans149 328 477 137 (96)31 549 
Total ALLL — continuing operations900 204 1,104 934 
(a)
(362)54 1,730 
Discontinued operations10 31 41 2 (4)3 42 
Total ALLL — including discontinued operations$910 $235 $1,145 $936 $(366)$57 $1,772 
(a)Excludes a provision for losses on lending-related commitments of $67 million.
Significant Macroeconomic Variables of Loan Portfolios The following table discloses key macroeconomic variables for each loan portfolio.
SegmentPortfolio
Key Macroeconomic Variables (a)
CommercialCommercial and industrialBBB corporate bond rate (spread), GDP, industrial production, and unemployment rate
Commercial real estateBBB corporate bond rate (spread), property and real estate price indices, and unemployment rate
Commercial lease financingBBB corporate bond rate (spread), GDP, and unemployment rate
ConsumerReal estate — residential mortgageGDP, home price index, unemployment rate, and 30 year mortgage rate
Home equityHome price index, unemployment rate, and 30 year mortgage rate
Consumer directUnemployment rate and U.S. household income
Consumer indirectNew vehicle sales, used vehicle prices, and unemployment rate
Credit cardsUnemployment rate and U.S. household income
Discontinued operationsUnemployment rate
(a)Variables include all transformations and interactions with other risk drivers. Additionally, variables may have varying impacts at different points in the economic cycle.
Financing Receivable Credit Quality Indicators
Credit Risk Profile by Creditworthiness Category and Vintage (a)
As of September 30, 2021Term LoansRevolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans Amortized Cost Basis
Amortized Cost Basis by Origination Year and Internal Risk Rating
Dollars in millions20212020201920182017PriorTotal
Commercial and Industrial
Risk Rating:
Pass$9,315 $5,420 $4,491 $3,186 $2,016 $3,884 $18,950 $102 $47,364 
Criticized (Accruing)40 115 193 192 236 208 925 27 1,936 
Criticized (Nonaccruing)— 9 18 41 6 16 160 3 253 
Total commercial and industrial9,355 5,544 4,702 3,419 2,258 4,108 20,035 132 49,553 
Real estate — commercial mortgage
Risk Rating:
Pass3,219 1,357 2,589 1,338 687 3,073 690 64 13,017 
Criticized (Accruing)15 20 87 85 123 228 48 2 608 
Criticized (Nonaccruing)— 1 1 5 1 37 4 — 49 
Total real estate — commercial mortgage
3,234 1,378 2,677 1,428 811 3,338 742 66 13,674 
Real estate — construction
Risk Rating:
Pass318 619 610 292 104 49 29 6 2,027 
Criticized (Accruing)— 4 13 52 22 1 1 — 93 
Criticized (Nonaccruing)— — — — — — — — — 
Total real estate — construction318 623 623 344 126 50 30 6 2,120 
Commercial lease financing
Risk Rating:
Pass655 815 744 348 347 997 — — 3,906 
Criticized (Accruing)— 4 35 14 13 5 — — 71 
Criticized (Nonaccruing)— — 1 1 1 2 — — 5 
Total commercial lease financing655 819 780 363 361 1,004 — 3,982 
Total commercial loans$13,562 $8,364 $8,782 $5,554 $3,556 $8,500 $20,807 $204 $69,329 

As of December 31, 2020Term LoansRevolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans Amortized Cost Basis
Amortized Cost Basis by Origination Year and Internal Risk Rating
Dollars in millions20202019201820172016PriorTotal
Commercial and Industrial
Risk Rating:
Pass$13,100 $5,487 $4,040 $2,617 $1,967 $2,709 $19,832 $118 $49,870 
Criticized (Accruing)66 198 174 236 150 279 1,527 22 2,652 
Criticized (Nonaccruing)8 27 71 28 17 7 226 1 385 
Total commercial and industrial13,174 5,712 4,285 2,881 2,134 2,995 21,585 141 52,907 
Real estate — commercial mortgage
Risk Rating:
Pass1,591 2,937 1,737 867 765 3,027 885 43 11,852 
Criticized (Accruing)12 142 81 145 72 255 22 2 731 
Criticized (Nonaccruing)— 1 4 4 2 88 5 — 104 
Total real estate — commercial mortgage
1,603 3,080 1,822 1,016 839 3,370 912 45 12,687 
Real estate — construction
Risk Rating:
Pass367 764 510 188 27 22 31 5 1,914 
Criticized (Accruing)— 14 38 18 — 2 1 — 73 
Criticized (Nonaccruing)— — — — — — — — — 
Total real estate — construction367 778 548 206 27 24 32 5 1,987 
Commercial lease financing
Risk Rating:
Pass1,076 1,050 534 504 228 901 — — 4,293 
Criticized (Accruing)10 35 15 26 7 4 — — 97 
Criticized (Nonaccruing)— 2 2 2 2 1 — — 9 
Total commercial lease financing1,086 1,087 551 532 237 906 — — 4,399 
Total commercial loans$16,230 $10,657 $7,206 $4,635 $3,237 $7,295 $22,529 $191 $71,980 
(a)Accrued interest of $117 million and $140 million as of September 30, 2021 and December 31, 2020, respectively, presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in these tables.
Consumer Credit Exposure
Credit Risk Profile by FICO Score and Vintage (a)
As of September 30, 2021Term LoansRevolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans Amortized Cost Basis
Amortized Cost Basis by Origination Year and FICO Score
Dollars in millions20212020201920182017PriorTotal
Real estate — residential mortgage
FICO Score:
750 and above$6,071 $3,150 $933 $104 $141 $1,218 — — $11,617 
660 to 7491,300 407 186 47 31 323 — — 2,294 
Less than 66023 12 19 16 10 151 — — 231 
No Score19 1 1 2 4 34 1 — 62 
Total real estate — residential mortgage7,413 3,570 1,139 169 186 1,726 1 — 14,204 
Home equity loans
FICO Score:
750 and above919 885 285 113 139 739 $2,333 $462 5,875 
660 to 749345 295 130 49 47 222 1,037 158 2,283 
Less than 66020 26 20 14 15 99 336 48 578 
No Score— 2 — 1 — 2 5 1 11 
Total home equity loans1,284 1,208 435 177 201 1,062 3,711 669 8,747 
Consumer direct loans
FICO Score:
750 and above1,287 1,271 594 76 20 137 109 — 3,494 
660 to 749413 350 200 51 13 48 217 — 1,292 
Less than 66019 22 29 12 3 14 61 — 160 
No Score47 45 32 16 9 21 208 — 378 
Total consumer direct loans1,766 1,688 855 155 45 220 595 — 5,324 
Credit cards
FICO Score:
750 and above— — — — — — 472 — 472 
660 to 749— — — — — — 375 — 375 
Less than 660— — — — — — 72 — 72 
No Score— — — — — — 9 — 9 
Total credit cards— — — — — — 928 — 928 
Consumer indirect loans
FICO Score:
750 and above4 — — — — 36 — — 40 
660 to 749— — — — — 26 — — 26 
Less than 660— — — — — 11 — — 11 
No Score— — — — — — — — — 
Total consumer indirect loans4 — — — — 73 — — 77 
Total consumer loans$10,467 $6,466 $2,429 $501 $432 $3,081 $5,235 $669 $29,280 
As of December 31, 2020Term LoansRevolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans Amortized Cost Basis
Amortized Cost Basis by Origination Year and FICO Score
Dollars in millions20202019201820172016PriorTotal
Real estate — residential mortgage
FICO Score:
750 and above$3,595 $1,620 $194 $254 $537 $1,211 — — $7,411 
660 to 749710 284 76 48 100 332 — — 1,550 
Less than 66016 28 21 10 26 170 — — 271 
No Score1 2 2 7 2 52 — — 66 
Total real estate — residential mortgage4,322 1,934 293 319 665 1,765 — — 9,298 
Home equity loans
FICO Score:
750 and above1,043 404 168 202 190 839 $2,689 $590 6,125 
660 to 749385 198 82 77 69 253 1,237 206 2,507 
Less than 66027 30 18 20 20 113 426 61 715 
No Score2 2 1 — — 2 5 1 13 
Total home equity loans1,457 634 269 299 279 1,207 4,357 858 9,360 
Consumer direct loans
FICO Score:
750 and above1,840 883 115 32 16 57 119 — 3,062 
660 to 749479 268 80 22 14 33 254 1 1,151 
Less than 66023 37 21 8 5 10 81 — 185 
No Score65 35 21 21 10 11 153 — 316 
Total consumer direct loans2,407 1,223 237 83 45 111 607 1 4,714 
Credit cards
FICO Score:
750 and above— — — — — — 488 — 488 
660 to 749— — — — — — 407 — 407 
Less than 660— — — — — — 93 — 93 
No Score— — — — — — 1 — 1 
Total credit cards— — — — — — 989 — 989 
Consumer indirect loans
FICO Score:
750 and above1,092 924 369 188 69 66 — — 2,708 
660 to 749653 558 232 97 36 47 — — 1,623 
Less than 660143 163 99 54 25 28 — — 512 
No Score1 — — — — — — — 1 
Total consumer indirect loans1,889 1,645 700 339 130 141 — — 4,844 
Total consumer loans$10,075 $5,436 $1,499 $1,040 $1,119 $3,224 $5,953 $859 $29,205 
(a)Accrued interest of $95 million and $101 million as of September 30, 2021 and December 31, 2020, respectively, presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table.
Past Due Loans Including Current Loans
The following aging analysis of past due and current loans as of September 30, 2021, and December 31, 2020, provides further information regarding Key’s credit exposure.

Aging Analysis of Loan Portfolio(a)
September 30, 2021Current
30-59
Days Past
Due (b)
60-89
Days Past
Due (b)
90 and
Greater
Days Past
Due (b)
Non-performing
Loans 		Total Past
Due and
Non-performing
Loans
Total
Loans (c)
Dollars in millions
LOAN TYPE
Commercial and industrial$49,161 $56 $33 $50 $253 $392 $49,553 
Commercial real estate:
Commercial mortgage13,606 12 2 5 49 68 13,674 
Construction2,118 1 — 1 — 2 2,120 
Total commercial real estate loans15,724 13 2 6 49 70 15,794 
Commercial lease financing3,973 2 1 1 5 9 3,982 
Total commercial loans$68,858 $71 $36 $57 $307 $471 $69,329 
Real estate — residential mortgage$14,096 $6 $3 $6 $93 $108 $14,204 
Home equity loans8,559 22 10 10 146 188 8,747 
Consumer direct loans5,307 6 3 4 4 17 5,324 
Credit cards914 3 3 5 3 14 928 
Consumer indirect loans75 1 — — 1 2 77 
Total consumer loans$28,951 $38 $19 $25 $247 $329 $29,280 
Total loans$97,809 $109 $55 $82 $554 $800 $98,609 
(a)Amounts in table represent amortized cost and exclude loans held for sale.
(b)Accrued interest of $211 million presented in Other Assets on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table.
(c)Net of unearned income, net of deferred fees and costs, and unamortized discounts and premiums.

December 31, 2020Current
30-59
Days Past
Due (b)
60-89
Days Past
Due (b)
90 and
Greater
Days Past
Due (b)
Non-performing
Loans
Total Past
Due and
Non-performing
Loans
Total
Loans (c)
Dollars in millions
LOAN TYPE
Commercial and industrial$52,396 $36 $50 $40 $385 $511 $52,907 
Commercial real estate:
Commercial mortgage12,548 9 5 21 104 139 12,687 
Construction1,986 — — 1 — 1 1,987 
Total commercial real estate loans14,534 9 5 22 104 140 14,674 
Commercial lease financing4,369 21 1 — 8 30 4,399 
Total commercial loans$71,299 $66 $56 $62 $497 $681 $71,980 
Real estate — residential mortgage$9,173 $11 $3 $1 $110 $125 $9,298 
Home equity loans9,143 34 20 9 154 217 9,360 
Consumer direct loans4,694 7 4 4 5 20 4,714 
Credit cards972 5 3 7 2 17 989 
Consumer indirect loans4,792 25 7 3 17 52 4,844 
Total consumer loans$28,774 $82 $37 $24 $288 $431 $29,205 
Total loans$100,073 $148 $93 $86 $785 $1,112 $101,185 

(a)Amounts in table represent amortized cost and exclude loans held for sale.
(b)Accrued interest of $241 million presented in Other Assets on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table.
(c)Net of unearned income, net of deferred fees and costs, and unamortized discounts and premiums.
Post-Modification Outstanding Recorded Investment by Concession Type for Our Commercial Accruing and Nonaccruing TDRs
The following table shows the post-modification outstanding recorded investment by concession type for our commercial and consumer accruing and nonaccruing TDRs that occurred during the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
Dollars in millions2021202020212020
Commercial loans:
Extension of Maturity Date$— $— $5 $8 
Payment or Covenant Modification/Deferment— — 7 — 
Bankruptcy Plan Modification— — — — 
Increase in new commitment or new money— — — — 
Total$— $— $12 $8 
Consumer loans:
Interest rate reduction$3 $13 $6 $22 
Other12 6 18 18 
Total$15 $19 $24 $40 
Total TDRs$15 $19 $36 $48 
Summary Of Post-Modification Outstanding Recorded Investment, Accruing And Nonaccruing TDRs
The following table summarizes the change in the post-modification outstanding recorded investment of our accruing and nonaccruing TDRs during the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
Dollars in millions2021202020212020
Balance at beginning of the period$334 $310 $363 $347 
Additions17 26 98 65 
Payments(81)(22)(162)(75)
Charge-offs— (8)(29)(31)
Balance at end of period$270 $306 $270 $306 
Breakdown of Nonperforming TDRs by Loans Category
A further breakdown of TDRs included in nonperforming loans by loan category for the periods indicated are as follows:
September 30, 2021December 31, 2020
Number of
Loans
Pre-modification
Outstanding
Recorded
Investment
Post-modification
Outstanding
Recorded
Investment
Number of
Loans
Pre-modification
Outstanding
Recorded
Investment
Post-modification
Outstanding
Recorded
Investment
Dollars in millions
LOAN TYPE
Nonperforming:
Commercial and industrial35 $92 $53 66 $136 $92 
Commercial real estate:
Commercial mortgage3 50 29 7 62 50 
Total commercial real estate loans3 50 29 7 62 50 
Total commercial loans38 142 82 73 198 142 
Real estate — residential mortgage218 26 25 258 35 34 
Home equity loans569 38 33 630 41 37 
Consumer direct loans201 3 3 212 3 3 
Credit cards328 2 2 356 2 2 
Consumer indirect loans23 1 1 861 15 11 
Total consumer loans1,339 70 64 2,317 96 87 
Total nonperforming TDRs1,377 212 146 2,390 294 229 
Prior-year accruing:(a)
Commercial and industrial7 49 26 3 5 — 
Commercial real estate
Commercial mortgage1 — — — — — 
Total commercial real estate loans1 — — — — — 
Total commercial loans8 49 26 3 5 — 
Real estate — residential mortgage464 39 34 485 37 31 
Home equity loans1,648 100 78 1,781 106 83 
Consumer direct loans206 5 3 163 4 3 
Credit cards564 4 1 536 3 1 
Consumer indirect loans150 16 8 775 29 16 
Total consumer loans3,032 164 124 3,740 179 134 
Total prior-year accruing TDRs3,040 163 124 3,743 184 134 
Total TDRs4,417 $375 $270 6,133 $478 $363 
(a)All TDRs that were restructured prior to January 1, 2021, and January 1, 2020, are fully accruing.
Changes in Liability for Credit Losses on Off-Balance Sheet Exposures Changes in the liability for credit losses on off balance sheet exposures are summarized as follows:
 Three months ended September 30,Nine months ended September 30,
Dollars in millions2021202020212020
Balance at the end of the prior period$152 $198 $197 $68 
Liability for credit losses on contingent guarantees at the end of the prior period— — — 7 
Cumulative effect from change in accounting principle (a), (b)
— — — 66 
Balance at beginning of period152 198 197 141 
Provision (credit) for losses on off balance sheet exposures— 10 (45)67 
Balance at end of period$152 $208 $152 $208 
(a)The cumulative effect from change in accounting principle relates to the January 1, 2020, adoption of ASU 2016-13.
(b)The nine months ended September 30, 2020, amount excludes $4 million related to the provision for other financial assets.