Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Commitments and Contingencies

December 31, (Dollars in millions)	Balance Sheet Location	2021		2020
Investments in affordable housing projects:
Carrying amount	Other assets	$	4,107	$	3,823
Amount of future funding commitments included in carrying amount	Other liabilities	1,285		1,057
Lending exposure	NA	763		546
Renewable energy investments:
Carrying amount	Other assets	257		167
Amount of future funding commitments not included in carrying amount	NA	71		76
Private equity and certain other equity method investments:
Carrying amount	Other assets	1,822		1,574
Amount of future funding commitments not included in carrying amount	NA	411		471

Summary of Tax Credits and Amortization, Tax Credit Investment Activity

The following table presents a summary of tax credits and amortization associated with the Company’s tax credit investment activity:

Year Ended December 31, (Dollars in millions)	Income Statement Location	2021		2020		2019
Tax credits:
Investments in affordable housing projects	Provision for income taxes	$	477	$	454	$	284
Other community development investments	Provision for income taxes	103		96		39
Renewable energy investments	NA (1)	157		159		—
Amortization and other changes in carrying amount:
Investments in affordable housing projects	Provision for income taxes	$	472	$	455	$	279
Other community development investments	Other noninterest income	86		81		28
Renewable energy investments	Other noninterest income	4		4		4

(1)Tax credits received for these investments are recorded as a reduction to the carrying value of these investments.

Schedule of Off-Balance Sheet

The following is a summary of selected notional amounts of off-balance sheet financial instruments:

December 31, (Dollars in millions)	2021		2020
Commitments to extend, originate, or purchase credit	$	198,658	$	186,731
Residential mortgage loans sold with recourse	244		328
CRE mortgages serviced for others covered by recourse provisions	10,243		9,019
Other loans serviced for others covered by recourse provisions	588		—
Letters of credit	5,568		5,066

Schedule of Pledged Assets

The following table provides the total carrying amount of pledged assets by asset type:

December 31, (Dollars in millions)	2021		2020
Pledged securities	$	29,678	$	25,729
Pledged loans:
FRB	73,349		75,615
FHLB	64,698		69,994
Unused borrowing capacity:
FRB	52,170		52,831
FHLB	49,244		52,274