Ohio | 34-6542451 | ||||
State or other jurisdiction of incorporation or organization: | I.R.S. Employer Identification Number: |
127 Public Square, | Cleveland, | Ohio | 44114-1306 | ||||||||
Address of principal executive offices: | Zip Code: |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Common Shares, $1 par value | KEY | New York Stock Exchange | ||||||
Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate | KEY PrI | New York Stock Exchange | ||||||
Perpetual Non-Cumulative Preferred Stock, Series E) | ||||||||
Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- | KEY PrJ | New York Stock Exchange | ||||||
Cumulative Preferred Stock, Series F) | ||||||||
Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non- | KEY PrK | New York Stock Exchange | ||||||
Cumulative Preferred Stock, Series G) |
Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | ||||||||||||
Smaller reporting company | ☐ | Emerging growth company | ☐ |
Common Shares with a par value of $1 each | |||||
Title of class | Outstanding at |
Page Number | ||||||||
Item 1. | ||||||||
Item 2. | ||||||||
Selected financial data | ||||||||
Item 3. | ||||||||
Item 4. |
PART II. OTHER INFORMATION | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 6. | ||||||||
ABO: Accumulated benefit obligation. ALCO: Asset/Liability Management Committee. ALLL: Allowance for loan and lease losses. A/LM: Asset/liability management. AML: Anti-money laundering. AOCI: Accumulated other comprehensive income (loss). APBO: Accumulated postretirement benefit obligation. AQN: Arbitria Quum Notitia, LLC (AQN Strategies) ARRC: Alternative Reference Rates Committee. ASC: Accounting Standards Codification. ASR: Accelerated share repurchase. ASU: Accounting Standards Update. ATMs: Automated teller machines. Austin: Austin Capital Management, Ltd. BSA: Bank Secrecy Act. BHCA: Bank Holding Company Act of 1956, as amended. BHCs: Bank holding companies. Board: KeyCorp Board of Directors. CAPM: Capital Asset Pricing Model. CARES Act: Coronavirus Aid, Relief, and Economic Security Act CCAR: Comprehensive Capital Analysis and Review. Cain Brothers: Cain Brothers & Company, LLC. CECL: Current Expected Credit Losses. CFPB: Consumer Financial Protection Bureau, also known as the Bureau of Consumer Financial Protection. CFTC: Commodities Futures Trading Commission. CMBS: Commercial mortgage-backed securities. CMO: Collateralized mortgage obligation. Common Shares: KeyCorp common shares, $1 par value. CVA: Credit Valuation Adjustment. DCF: Discounted cash flow. DIF: Deposit Insurance Fund of the FDIC. Dodd-Frank Act: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. EAD: Exposure at default. EBITDA: Earnings before interest, taxes, depreciation, and amortization. EPS: Earnings per share. ERISA: Employee Retirement Income Security Act of 1974. ERM: Enterprise risk management. EVE: Economic value of equity. FASB: Financial Accounting Standards Board. FDIA: Federal Deposit Insurance Act, as amended. FDIC: Federal Deposit Insurance Corporation. Federal Reserve: Board of Governors of the Federal Reserve System. FHLB: Federal Home Loan Bank of Cincinnati. FHLMC: Federal Home Loan Mortgage Corporation. FICO: Fair Isaac Corporation. FINRA: Financial Industry Regulatory Authority. First Niagara: First Niagara Financial Group, Inc. FNMA: Federal National Mortgage Association. | FSOC: Financial Stability Oversight Council. FVA: Fair value of employee benefit plan assets. GAAP: U.S. generally accepted accounting principles. GNMA: Government National Mortgage Association. HTC: Historic tax credit. IRS: Internal Revenue Service. ISDA: International Swaps and Derivatives Association. KBCM: KeyBanc Capital Markets, Inc. KCC: Key Capital Corporation. KCDC: Key Community Development Corporation. KCIC: Key Community Investment Capital LLC. KEF: Key Equipment Finance. LCR: Liquidity coverage ratio. LGD: Loss given default. LIBOR: London Interbank Offered Rate. LIHTC: Low-income housing tax credit. LTV: Loan-to-value. Moody’s: Moody’s Investor Services, Inc. MRM: Market Risk Management group. MRC: Market Risk Committee. N/A: Not applicable. Nasdaq: The Nasdaq Stock Market LLC. NAV: Net asset value. NFA: National Futures Association. N/M: Not meaningful. NMTC: New market tax credit. NOW: Negotiable Order of Withdrawal. NPR: Notice of proposed rulemaking. NYSE: New York Stock Exchange. OCC: Office of the Comptroller of the Currency. OCI: Other comprehensive income (loss). OREO: Other real estate owned. PBO: Projected benefit obligation. PCCR: Purchased credit card relationship. PCD: Purchased credit deteriorated. PD: Probability of default. PPP: Paycheck Protection Program. S&P: Standard and Poor’s Ratings Services, a Division of The McGraw-Hill Companies, Inc. SEC: U.S. Securities & Exchange Commission. SIFIs: Systemically important financial institutions, including large, interconnected BHCs and nonbank financial companies designated by FSOC for supervision by the Federal Reserve. SOFR: Secured Overnight Financing Rate. TCJ Act: Tax Cuts and Jobs Act. TDR: Troubled debt restructuring. TE: Taxable-equivalent. U.S. Treasury: United States Department of the Treasury. VaR: Value at risk. VEBA: Voluntary Employee Beneficiary Association. VIE: Variable interest entity. |
2021 | 2020 | Six Months Ended June 30, | 2021 | 2020 | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions, except per share amounts | Second | First | Fourth | Third | Second | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions, except per share amounts | Dollars in millions, except per share amounts | Third | Second | First | Fourth | Third | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOR THE PERIOD | FOR THE PERIOD | FOR THE PERIOD | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | Interest income | $ | 1,090 | $ | 1,087 | $ | 1,125 | $ | 1,119 | $ | 1,190 | $ | 2,177 | $ | 2,441 | Interest income | $ | 1,087 | $ | 1,090 | $ | 1,087 | $ | 1,125 | $ | 1,119 | $ | 3,264 | $ | 3,560 | |||||||||||||||||||||||||||||||||||||
Interest expense | Interest expense | 73 | 82 | 90 | 119 | 172 | 155 | 442 | Interest expense | 71 | 73 | 82 | 90 | 119 | 226 | 561 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income | Net interest income | 1,017 | 1,005 | 1,035 | 1,000 | 1,018 | 2,022 | 1,999 | Net interest income | 1,016 | 1,017 | 1,005 | 1,035 | 1,000 | 3,038 | 2,999 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for credit losses | Provision for credit losses | (222) | (93) | 20 | 160 | 482 | (315) | 841 | Provision for credit losses | (107) | (222) | (93) | 20 | 160 | (422) | 1,001 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest income | Noninterest income | 750 | 738 | 802 | 681 | 692 | 1,488 | 1,169 | Noninterest income | 797 | 750 | 738 | 802 | 681 | 2,285 | 1,850 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest expense | Noninterest expense | 1,076 | 1,071 | 1,128 | 1,037 | 1,013 | 2,147 | 1,944 | Noninterest expense | 1,112 | 1,076 | 1,071 | 1,128 | 1,037 | 3,259 | 2,981 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | Income (loss) from continuing operations before income taxes | 913 | 765 | 689 | 484 | 215 | 1,678 | 383 | Income (loss) from continuing operations before income taxes | 808 | 913 | 765 | 689 | 484 | 2,486 | 867 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key | Income (loss) from continuing operations attributable to Key | 724 | 618 | 575 | 424 | 185 | 1,342 | 330 | Income (loss) from continuing operations attributable to Key | 643 | 724 | 618 | 575 | 424 | 1,985 | 754 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 5 | 4 | 7 | 4 | 2 | 9 | 3 | Income (loss) from discontinued operations, net of taxes | 2 | 5 | 4 | 7 | 4 | 11 | 7 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Key | Net income (loss) attributable to Key | 729 | 622 | 582 | 428 | 187 | 1,351 | 333 | Net income (loss) attributable to Key | 645 | 729 | 622 | 582 | 428 | 1,996 | 761 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | Income (loss) from continuing operations attributable to Key common shareholders | 698 | 591 | 549 | 397 | 159 | 1,289 | 277 | Income (loss) from continuing operations attributable to Key common shareholders | 616 | 698 | 591 | 549 | 397 | 1,905 | 674 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 5 | 4 | 7 | 4 | 2 | 9 | 3 | Income (loss) from discontinued operations, net of taxes | 2 | 5 | 4 | 7 | 4 | 11 | 7 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders | Net income (loss) attributable to Key common shareholders | 703 | 595 | 556 | 401 | 161 | 1,298 | 280 | Net income (loss) attributable to Key common shareholders | 618 | 703 | 595 | 556 | 401 | 1,916 | 681 | |||||||||||||||||||||||||||||||||||||||||||||||||||
PER COMMON SHARE | PER COMMON SHARE | PER COMMON SHARE | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | Income (loss) from continuing operations attributable to Key common shareholders | $ | .73 | $ | .61 | $ | .57 | $ | .41 | $ | .16 | $ | 1.34 | $ | .29 | Income (loss) from continuing operations attributable to Key common shareholders | $ | .65 | $ | .73 | $ | .61 | $ | .57 | $ | .41 | $ | 1.99 | $ | .70 | |||||||||||||||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | — | — | .01 | — | — | — | — | Income (loss) from discontinued operations, net of taxes | — | — | — | — | — | .01 | .01 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders (a) | Net income (loss) attributable to Key common shareholders (a) | .73 | .62 | .57 | .41 | .17 | 1.35 | .29 | Net income (loss) attributable to Key common shareholders (a) | .66 | .73 | .62 | .57 | .41 | 2.00 | .70 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution | Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution | .72 | .61 | .56 | .41 | .16 | 1.33 | .28 | Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution | .65 | .72 | .61 | .56 | .41 | 1.98 | .69 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes — assuming dilution | Income (loss) from discontinued operations, net of taxes — assuming dilution | — | — | .01 | — | — | — | — | Income (loss) from discontinued operations, net of taxes — assuming dilution | — | — | — | — | — | .01 | .01 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders — assuming dilution (a) | Net income (loss) attributable to Key common shareholders — assuming dilution (a) | .73 | .61 | .57 | .41 | .17 | 1.34 | .29 | Net income (loss) attributable to Key common shareholders — assuming dilution (a) | .65 | .73 | .61 | .57 | .41 | 1.99 | .70 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cash dividends paid | Cash dividends paid | .185 | .185 | .185 | .185 | .185 | .370 | .370 | Cash dividends paid | .185 | .185 | .185 | .185 | .185 | .555 | .555 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Book value at period end | Book value at period end | 16.75 | 16.22 | 16.53 | 16.25 | 16.07 | 16.75 | 16.07 | Book value at period end | 16.82 | 16.75 | 16.22 | 16.53 | 16.25 | 16.82 | 16.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Tangible book value at period end | Tangible book value at period end | 13.81 | 13.30 | 13.61 | 13.32 | 13.12 | 13.81 | 13.12 | Tangible book value at period end | 13.80 | 13.81 | 13.30 | 13.61 | 13.32 | 13.80 | 13.32 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted-average common shares outstanding (000) | Weighted-average common shares outstanding (000) | 957,423 | 964,878 | 967,987 | 967,804 | 967,147 | 961,292 | 967,380 | Weighted-average common shares outstanding (000) | 942,446 | 957,423 | 964,878 | 967,987 | 967,804 | 955,069 | 967,632 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted-average common shares and potential common shares outstanding (000) (b) | Weighted-average common shares and potential common shares outstanding (000) (b) | 967,163 | 974,297 | 976,460 | 973,988 | 972,141 | 970,806 | 974,272 | Weighted-average common shares and potential common shares outstanding (000) (b) | 952,523 | 967,163 | 974,297 | 976,460 | 973,988 | 964,781 | 974,280 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AT PERIOD END | AT PERIOD END | AT PERIOD END | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans | $ | 100,730 | $ | 100,926 | $ | 101,185 | $ | 103,081 | $ | 106,159 | $ | 100,730 | $ | 106,159 | Loans | $ | 98,609 | $ | 100,730 | $ | 100,926 | $ | 101,185 | $ | 103,081 | $ | 98,609 | $ | 103,081 | |||||||||||||||||||||||||||||||||||||
Earning assets | Earning assets | 165,026 | 160,810 | 155,469 | 155,585 | 156,177 | 165,026 | 156,177 | Earning assets | 170,548 | 165,026 | 160,810 | 155,469 | 155,585 | 170,548 | 155,585 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | 181,115 | 176,203 | 170,336 | 170,540 | 171,192 | 181,115 | 171,192 | Total assets | 187,035 | 181,115 | 176,203 | 170,336 | 170,540 | 187,035 | 170,540 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 146,072 | 142,183 | 135,282 | 136,746 | 135,513 | 146,072 | 135,513 | Deposits | 151,931 | 146,072 | 142,183 | 135,282 | 136,746 | 151,931 | 136,746 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | Long-term debt | 13,211 | 12,499 | 13,709 | 12,685 | 13,734 | 13,211 | 13,734�� | Long-term debt | 13,165 | 13,211 | 12,499 | 13,709 | 12,685 | 13,165 | 12,685 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Key common shareholders’ equity | Key common shareholders’ equity | 16,041 | 15,734 | 16,081 | 15,822 | 15,642 | 16,041 | 15,642 | Key common shareholders’ equity | 15,610 | 16,041 | 15,734 | 16,081 | 15,822 | 15,610 | 15,822 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Key shareholders’ equity | Key shareholders’ equity | 17,941 | 17,634 | 17,981 | 17,722 | 17,542 | 17,941 | 17,542 | Key shareholders’ equity | 17,510 | 17,941 | 17,634 | 17,981 | 17,722 | 17,510 | 17,722 | |||||||||||||||||||||||||||||||||||||||||||||||||||
PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS | PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS | PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Return on average total assets | Return on average total assets | 1.63 | % | 1.44 | % | 1.35 | % | 1.00 | % | .45 | % | 1.55 | % | .43 | % | Return on average total assets | 1.41 | % | 1.63 | % | 1.44 | % | 1.35 | % | 1.00 | % | 1.50 | % | .63 | % | |||||||||||||||||||||||||||||||||||||
Return on average common equity | Return on average common equity | 18.21 | 14.98 | 13.65 | 9.98 | 4.05 | 16.64 | 3.58 | Return on average common equity | 15.28 | 17.54 | 14.98 | 13.65 | 9.98 | 15.98 | 5.75 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Return on average tangible common equity (c) | Return on average tangible common equity (c) | 22.34 | 18.25 | 16.61 | 12.19 | 4.96 | 20.34 | 4.40 | Return on average tangible common equity (c) | 18.55 | 21.34 | 18.25 | 16.61 | 12.19 | 19.43 | 7.06 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest margin (TE) | Net interest margin (TE) | 2.52 | 2.61 | 2.70 | 2.62 | 2.76 | 2.56 | 2.88 | Net interest margin (TE) | 2.47 | 2.52 | 2.61 | 2.70 | 2.62 | 2.53 | 2.78 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cash efficiency ratio (c) | Cash efficiency ratio (c) | 59.9 | 60.3 | 60.3 | 60.6 | 57.9 | 60.1 | 60.0 | Cash efficiency ratio (c) | 60.2 | 59.9 | 60.3 | 60.3 | 60.6 | 60.1 | 60.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||
PERFORMANCE RATIOS — FROM CONSOLIDATED OPERATIONS | PERFORMANCE RATIOS — FROM CONSOLIDATED OPERATIONS | PERFORMANCE RATIOS — FROM CONSOLIDATED OPERATIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Return on average total assets | Return on average total assets | 1.64 | % | 1.45 | % | 1.36 | % | 1.00 | % | .46 | % | 1.55 | % | .43 | % | Return on average total assets | 1.41 | % | 1.64 | % | 1.45 | % | 1.36 | % | 1.00 | % | 1.50 | % | .63 | % | |||||||||||||||||||||||||||||||||||||
Return on average common equity | Return on average common equity | 18.34 | 15.08 | 13.82 | 10.08 | 4.10 | 16.76 | 3.62 | Return on average common equity | 15.33 | 17.67 | 15.08 | 13.82 | 10.08 | 16.07 | 5.81 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Return on average tangible common equity (c) | Return on average tangible common equity (c) | 22.50 | 18.37 | 16.82 | 12.31 | 5.02 | 20.48 | 4.45 | Return on average tangible common equity (c) | 18.61 | 21.49 | 18.37 | 16.82 | 12.31 | 19.54 | 7.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest margin (TE) | Net interest margin (TE) | 2.55 | 2.60 | 2.69 | 2.62 | 2.76 | 2.57 | 2.87 | Net interest margin (TE) | 2.46 | 2.55 | 2.60 | 2.69 | 2.62 | 2.52 | 2.78 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-deposit (d) | Loan-to-deposit (d) | 70.4 | 73.1 | 76.5 | 77.2 | 80.4 | 70.4 | 80.4 | Loan-to-deposit (d) | 66.5 | 70.4 | 73.1 | 76.5 | 77.2 | 66.5 | 77.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||
CAPITAL RATIOS AT PERIOD END | CAPITAL RATIOS AT PERIOD END | CAPITAL RATIOS AT PERIOD END | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Key shareholders’ equity to assets | Key shareholders’ equity to assets | 9.9 | % | 10.0 | % | 10.6 | % | 10.4 | % | 10.2 | % | 9.9 | % | 10.2 | % | Key shareholders’ equity to assets | 9.4 | % | 9.9 | % | 10.0 | % | 10.6 | % | 10.4 | % | 9.4 | % | 10.4 | % | |||||||||||||||||||||||||||||||||||||
Key common shareholders’ equity to assets | Key common shareholders’ equity to assets | 8.9 | 9.0 | 9.5 | 9.3 | 9.2 | 8.9 | 9.2 | Key common shareholders’ equity to assets | 8.4 | 8.9 | 9.0 | 9.5 | 9.3 | 8.4 | 9.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Tangible common equity to tangible assets (c) | Tangible common equity to tangible assets (c) | 7.4 | 7.5 | 7.9 | 7.8 | 7.6 | 7.4 | 7.6 | Tangible common equity to tangible assets (c) | 7.0 | 7.4 | 7.5 | 7.9 | 7.8 | 7.0 | 7.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Common Equity Tier 1 | Common Equity Tier 1 | 9.9 | 9.9 | 9.7 | 9.5 | 9.1 | 9.9 | 9.1 | Common Equity Tier 1 | 9.6 | 9.9 | 9.9 | 9.7 | 9.5 | 9.6 | 9.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Tier 1 risk-based capital | Tier 1 risk-based capital | 11.3 | 11.3 | 11.1 | 10.9 | 10.5 | 11.3 | 10.5 | Tier 1 risk-based capital | 10.9 | 11.3 | 11.3 | 11.1 | 10.9 | 10.9 | 10.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total risk-based capital | Total risk-based capital | 13.2 | 13.4 | 13.4 | 13.3 | 12.8 | 13.2 | 12.8 | Total risk-based capital | 12.7 | 13.2 | 13.4 | 13.4 | 13.3 | 12.7 | 13.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Leverage | Leverage | 8.7 | 8.9 | 8.9 | 8.7 | 8.8 | 8.7 | 8.8 | Leverage | 8.4 | 8.7 | 8.9 | 8.9 | 8.7 | 8.4 | 8.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||
TRUST ASSETS | TRUST ASSETS | TRUST ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets under management | Assets under management | $ | 47,737 | $ | 45,218 | $ | 44,140 | $ | 41,312 | $ | 39,722 | $ | 47,737 | $ | 39,722 | Assets under management | $ | 52,867 | $ | 51,013 | $ | 48,288 | $ | 47,086 | $ | 43,949 | $ | 52,867 | $ | 43,949 | |||||||||||||||||||||||||||||||||||||
OTHER DATA | OTHER DATA | OTHER DATA | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average full-time-equivalent employees | Average full-time-equivalent employees | 17,157 | 17,086 | 17,029 | 17,097 | 16,646 | 17,122 | 16,587 | Average full-time-equivalent employees | 17,009 | 17,003 | 17,086 | 17,029 | 17,097 | 17,034 | 16,758 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Branches | Branches | 1,014 | 1,068 | 1,073 | 1,077 | 1,077 | 1,014 | 1,077 | Branches | 1,000 | 1,014 | 1,068 | 1,073 | 1,077 | 1,000 | 1,077 |
Ratios (including stress capital buffer) | Ratios (including stress capital buffer) | Regulatory Minimum Requirement | Stress Capital Buffer (b) | Regulatory Minimum With Stress Capital Buffer | KeyCorp June 30, 2021 (c) | Ratios (including stress capital buffer) | Regulatory Minimum Requirement | Stress Capital Buffer (b) | Regulatory Minimum With Stress Capital Buffer | KeyCorp September 30, 2021 (c) | ||||||||||||||||||
Common Equity Tier 1 | Common Equity Tier 1 | 4.5 | % | 2.5 | % | 7.0 | % | 9.9 | % | Common Equity Tier 1 | 4.5 | % | 2.5 | % | 7.0 | % | 9.6 | % | ||||||||||
Tier 1 Capital | Tier 1 Capital | 6.0 | 2.5 | 8.5 | 11.3 | Tier 1 Capital | 6.0 | 2.5 | 8.5 | 10.9 | ||||||||||||||||||
Total Capital | Total Capital | 8.0 | 2.5 | 10.5 | 13.2 | Total Capital | 8.0 | 2.5 | 10.5 | 12.7 | ||||||||||||||||||
Leverage (a) | Leverage (a) | 4.0 | N/A | 4.0 | 8.7 | Leverage (a) | 4.0 | N/A | 4.0 | 8.4 |
Prompt Corrective Action | Capital Category | ||||||||||
Ratio | Well Capitalized (a) | Adequately Capitalized | |||||||||
Common Equity Tier 1 Risk-Based | 6.5 | % | 4.5 | % | |||||||
Tier 1 Risk-Based | 8.0 | 6.0 | |||||||||
Total Risk-Based | 10.0 | 8.0 | |||||||||
Tier 1 Leverage (b) | 5.0 | 4.0 |
Three months ended June 30, 2021 | Three months ended June 30, 2020 | Change in Net interest income due to | Three months ended September 30, 2021 | Three months ended September 30, 2020 | Change in Net interest income due to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | Average Balance | Interest (a) | Yield/ Rate (a) | Average Balance | Interest (a) | Yield/ Rate (a) | Volume | Yield/Rate | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Average Balance | Interest (a) | Yield/ Rate (a) | Average Balance | Interest (a) | Yield/ Rate (a) | Volume | Yield/Rate | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans (b), (c) | Loans (b), (c) | Loans (b), (c) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial (d) | Commercial and industrial (d) | $ | 51,808 | $ | 450 | 3.48 | % | $ | 60,480 | $ | 518 | 3.44 | % | $ | (75) | $ | 7 | $ | (68) | Commercial and industrial (d) | $ | 49,868 | $ | 445 | 3.54 | % | $ | 57,067 | $ | 474 | 3.31 | % | $ | (63) | $ | 34 | $ | (29) | ||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 12,825 | 117 | 3.67 | 13,510 | 128 | 3.80 | (6) | (5) | (11) | Real estate — commercial mortgage | 13,306 | 120 | 3.56 | 13,202 | 117 | 3.54 | 1 | 2 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | 2,149 | 20 | 3.68 | 1,756 | 17 | 3.97 | 4 | (1) | 3 | Real estate — construction | 2,134 | 19 | 3.53 | 1,987 | 18 | 3.57 | 1 | — | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 4,060 | 30 | 2.98 | 4,584 | 33 | 2.96 | (4) | 1 | (3) | Commercial lease financing | 3,922 | 27 | 2.80 | 4,488 | 35 | 3.10 | (4) | (4) | (8) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 70,842 | 617 | 3.49 | 80,330 | 696 | 3.49 | (81) | 2 | (79) | Total commercial loans | 69,230 | 611 | 3.50 | 76,744 | 644 | 3.34 | (65) | 32 | (33) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 11,055 | 81 | 2.92 | 7,783 | 69 | 3.57 | 25 | (13) | 12 | Real estate — residential mortgage | 13,168 | 92 | 2.78 | 8,398 | 73 | 3.46 | 35 | (16) | 19 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 9,089 | 85 | 3.76 | 9,949 | 97 | 3.89 | (8) | (4) | (12) | Home equity loans | 8,894 | 84 | 3.75 | 9,580 | 91 | 3.82 | (6) | (1) | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 4,910 | 57 | 4.69 | 4,152 | 55 | 5.24 | 9 | (7) | 2 | Consumer direct loans | 5,175 | 59 | 4.55 | 4,403 | 56 | 5.07 | 9 | (6) | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit cards | Credit cards | 908 | 22 | 9.79 | 983 | 25 | 10.22 | (2) | (1) | (3) | Credit cards | 917 | 23 | 10.07 | 967 | 25 | 10.24 | (1) | (1) | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 4,010 | 32 | 3.19 | 4,744 | 45 | 3.82 | (6) | (7) | (13) | Consumer indirect loans | 2,754 | 22 | 3.15 | 4,827 | 44 | 3.66 | (17) | (5) | (22) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 29,972 | 277 | 3.71 | 27,611 | 291 | 4.22 | 18 | (32) | (14) | Total consumer loans | 30,908 | 280 | 3.60 | 28,175 | 289 | 4.10 | 20 | (29) | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total loans | Total loans | 100,814 | 894 | 3.56 | 107,941 | 987 | 3.67 | (63) | (30) | (93) | Total loans | 100,138 | 891 | 3.53 | 104,919 | 933 | 3.55 | (45) | 3 | (42) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale | Loans held for sale | 1,616 | 11 | 2.60 | 2,463 | 21 | 3.50 | (6) | (4) | (10) | Loans held for sale | 1,447 | 13 | 3.66 | 1,924 | 18 | 3.61 | (4) | (1) | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale (b), (e) | Securities available for sale (b), (e) | 33,623 | 133 | 1.57 | 20,749 | 121 | 2.43 | 59 | (47) | 12 | Securities available for sale (b), (e) | 36,923 | 135 | 1.48 | 24,941 | 115 | 1.90 | 47 | (27) | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-maturity securities (b) | Held-to-maturity securities (b) | 6,452 | 45 | 2.75 | 9,331 | 56 | 2.43 | (19) | 8 | (11) | Held-to-maturity securities (b) | 6,507 | 43 | 2.66 | 8,677 | 53 | 2.44 | (14) | 4 | (10) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets | Trading account assets | 837 | 5 | 2.56 | 760 | 5 | 2.43 | — | — | — | Trading account assets | 743 | 4 | 2.19 | 686 | 3 | 2.08 | — | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term investments | Short-term investments | 18,817 | 6 | .13 | 7,892 | 7 | .31 | 5 | (6) | (1) | Short-term investments | 19,274 | 9 | .18 | 12,525 | 1 | .04 | 1 | 7 | 8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other investments (e) | Other investments (e) | 622 | 2 | 1.02 | 672 | — | .29 | — | 2 | 2 | Other investments (e) | 614 | 1 | .99 | 640 | 2 | 1.49 | — | (1) | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total earning assets | Total earning assets | 162,781 | 1,096 | 2.70 | 149,808 | 1,197 | 3.22 | (24) | (77) | (101) | Total earning assets | 165,646 | 1,096 | 2.64 | 154,312 | 1,125 | 2.93 | (15) | (14) | (29) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses | Allowance for loan and lease losses | (1,442) | (1,413) | Allowance for loan and lease losses | (1,222) | (1,696) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued income and other assets | Accrued income and other assets | 16,531 | 15,704 | Accrued income and other assets | 16,947 | 16,195 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discontinued assets | Discontinued assets | 650 | 793 | Discontinued assets | 618 | 752 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 178,520 | $ | 164,892 | Total assets | $ | 181,989 | $ | 169,563 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES | LIABILITIES | LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NOW and money market deposit accounts | NOW and money market deposit accounts | $ | 83,981 | 9 | .05 | $ | 75,297 | 56 | .30 | 6 | (53) | (47) | NOW and money market deposit accounts | $ | 85,333 | 10 | .05 | $ | 80,175 | 26 | .13 | 2 | (18) | (16) | ||||||||||||||||||||||||||||||||||||||||||||||
Savings deposits | Savings deposits | 6,859 | 1 | .03 | 5,130 | — | .04 | — | 1 | 1 | Savings deposits | 7,117 | — | .01 | 5,478 | 1 | .04 | — | (1) | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Certificates of deposit ($100,000 or more) | Certificates of deposit ($100,000 or more) | 2,212 | 4 | .72 | 4,950 | 24 | 1.93 | (9) | (11) | (20) | Certificates of deposit ($100,000 or more) | 1,975 | 3 | .59 | 3,862 | 16 | 1.60 | (6) | (7) | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other time deposits | Other time deposits | 2,630 | 2 | .38 | 4,333 | 16 | 1.52 | (5) | (9) | (14) | Other time deposits | 2,404 | 2 | .26 | 3,735 | 11 | 1.17 | (3) | (6) | (9) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-bearing deposits | Total interest-bearing deposits | 95,682 | 16 | .07 | 89,710 | 96 | .43 | (8) | (72) | (80) | Total interest-bearing deposits | 96,829 | 15 | .06 | 93,250 | 54 | .23 | (7) | (32) | (39) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Federal funds purchased and securities sold under repurchase agreements | Federal funds purchased and securities sold under repurchase agreements | 251 | — | .02 | 242 | — | .03 | — | — | — | Federal funds purchased and securities sold under repurchase agreements | 231 | — | .02 | 225 | — | .05 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Bank notes and other short-term borrowings | Bank notes and other short-term borrowings | 744 | 3 | 1.19 | 2,869 | 5 | .57 | (5) | 3 | (2) | Bank notes and other short-term borrowings | 671 | 2 | 1.11 | 761 | 1 | .68 | — | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt (f), (g) | Long-term debt (f), (g) | 11,978 | 54 | 1.82 | 12,954 | 71 | 2.30 | (5) | (12) | (17) | Long-term debt (f), (g) | 12,601 | 54 | 1.73 | 12,801 | 64 | 2.12 | (1) | (9) | (10) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | 108,655 | 73 | .27 | 105,775 | 172 | .66 | (18) | (81) | (99) | Total interest-bearing liabilities | 110,332 | 71 | .26 | 107,037 | 119 | .45 | (8) | (40) | (48) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing deposits | Noninterest-bearing deposits | 48,640 | 38,267 | Noninterest-bearing deposits | 50,087 | 41,694 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued expense and other liabilities | Accrued expense and other liabilities | 3,304 | 2,369 | Accrued expense and other liabilities | 3,053 | 2,350 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discontinued liabilities (g) | Discontinued liabilities (g) | 650 | 793 | Discontinued liabilities (g) | 618 | 752 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | 161,249 | 147,204 | Total liabilities | 164,090 | 151,833 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY | EQUITY | EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Key shareholders’ equity | Key shareholders’ equity | 17,271 | 17,688 | Key shareholders’ equity | 17,899 | 17,730 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | Noncontrolling interests | — | — | Noncontrolling interests | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity | Total equity | 17,271 | 17,688 | Total equity | 17,899 | 17,730 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and equity | Total liabilities and equity | $ | 178,520 | $ | 164,892 | Total liabilities and equity | $ | 181,989 | $ | 169,563 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate spread (TE) | Interest rate spread (TE) | 2.43 | % | 2.56 | % | Interest rate spread (TE) | 2.38 | % | 2.48 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income (TE) and net interest margin (TE) | Net interest income (TE) and net interest margin (TE) | 1,023 | 2.52 | % | 1,025 | 2.76 | % | $ | (6) | $ | 4 | (2) | Net interest income (TE) and net interest margin (TE) | 1,025 | 2.47 | % | 1,006 | 2.62 | % | $ | (7) | $ | 26 | 19 | ||||||||||||||||||||||||||||||||||||||||||||||
TE adjustment (b) | TE adjustment (b) | 6 | 7 | TE adjustment (b) | 9 | 6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income, GAAP basis | Net interest income, GAAP basis | $ | 1,017 | $ | 1,018 | Net interest income, GAAP basis | $ | 1,016 | $ | 1,000 |
Six months ended June 30, 2021 | Six months ended June 30, 2020 | Change in Net interest income due to | Nine months ended September 30, 2021 | Nine months ended September 30, 2020 | Change in Net interest income due to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | Average Balance | Interest (a) | Yield/ Rate (a) | Average Balance | Interest (a) | Yield/ Rate (a) | Volume | Yield/Rate | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Average Balance | Interest (a) | Yield/ Rate (a) | Average Balance | Interest (a) | Yield/ Rate (a) | Volume | Yield/Rate | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans (b), (c) | Loans (b), (c) | Loans (b), (c) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial (d) | Commercial and industrial (d) | $ | 52,194 | $ | 902 | 3.49 | % | $ | 54,973 | $ | 1,026 | 3.75 | % | $ | (50) | $ | (74) | $ | (124) | Commercial and industrial (d) | $ | 51,410 | $ | 1,347 | 3.50 | % | $ | 55,676 | $ | 1,500 | 3.60 | % | $ | (113) | $ | (40) | $ | (153) | ||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 12,742 | 232 | 3.67 | 13,529 | 283 | 4.20 | (16) | (35) | (51) | Real estate — commercial mortgage | 12,932 | 351 | 3.63 | 13,419 | 400 | 3.98 | (14) | (35) | (49) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | 2,099 | 39 | 3.71 | 1,711 | 37 | 4.35 | 8 | (6) | 2 | Real estate — construction | 2,111 | 58 | 3.65 | 1,804 | 55 | 4.06 | 9 | (6) | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 4,101 | 61 | 2.99 | 4,575 | 72 | 3.17 | (7) | (4) | (11) | Commercial lease financing | 4,041 | 89 | 2.93 | 4,546 | 107 | 3.15 | (11) | (7) | (18) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 71,136 | 1,234 | 3.49 | 74,788 | 1,418 | 3.81 | (65) | (119) | (184) | Total commercial loans | 70,494 | 1,845 | 3.50 | 75,445 | 2,062 | 3.65 | (129) | (88) | (217) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 10,380 | 154 | 2.97 | 7,500 | 137 | 3.66 | 46 | (29) | 17 | Real estate — residential mortgage | 11,320 | 246 | 2.89 | 7,801 | 210 | 3.59 | 82 | (46) | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 9,189 | 173 | 3.79 | 10,052 | 210 | 4.19 | (17) | (20) | (37) | Home equity loans | 9,089 | 257 | 3.78 | 9,894 | 301 | 4.07 | (24) | (20) | (44) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 4,864 | 113 | 4.70 | 3,930 | 109 | 5.56 | 23 | (19) | 4 | Consumer direct loans | 4,969 | 173 | 4.65 | 4,089 | 165 | 5.38 | 33 | (25) | 8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Credit cards | Credit cards | 920 | 46 | 10.12 | 1,032 | 56 | 10.89 | (6) | (4) | (10) | Credit cards | 919 | 69 | 10.10 | 1,010 | 81 | 10.68 | (7) | (5) | (12) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 4,288 | 69 | 3.25 | 4,756 | 91 | 3.84 | (8) | (14) | (22) | Consumer indirect loans | 3,771 | 91 | 3.22 | 4,779 | 135 | 3.78 | (26) | (18) | (44) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 29,641 | 555 | 3.77 | 27,270 | 603 | 4.44 | 38 | (86) | (48) | Total consumer loans | 30,068 | 836 | 3.71 | 27,573 | 892 | 4.32 | 58 | (114) | (56) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total loans | Total loans | 100,777 | 1,789 | 3.58 | 102,058 | 2,021 | 3.98 | (27) | (205) | (232) | Total loans | 100,562 | 2,681 | 3.56 | 103,018 | 2,954 | 3.83 | (71) | (202) | (273) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale | Loans held for sale | 1,574 | 22 | 2.74 | 2,174 | 40 | 3.71 | (10) | (8) | (18) | Loans held for sale | 1,531 | 35 | 3.03 | 2,090 | 58 | 3.68 | (14) | (9) | (23) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale (b), (e) | Securities available for sale (b), (e) | 31,841 | 263 | 1.66 | 20,960 | 250 | 2.46 | 105 | (92) | 13 | Securities available for sale (b), (e) | 33,553 | 398 | 1.60 | 22,297 | 365 | 2.25 | 151 | (118) | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-maturity securities (b) | Held-to-maturity securities (b) | 6,818 | 90 | 2.63 | 9,575 | 118 | 2.47 | (36) | 8 | (28) | Held-to-maturity securities (b) | 6,713 | 133 | 2.64 | 9,274 | 171 | 2.46 | (50) | 12 | (38) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets | Trading account assets | 842 | 10 | 2.35 | 913 | 13 | 2.73 | (1) | (2) | (3) | Trading account assets | 809 | 14 | 2.30 | 837 | 16 | 2.55 | (1) | (1) | (2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term investments | Short-term investments | 17,670 | 11 | .13 | 4,828 | 13 | .52 | 14 | (16) | (2) | Short-term investments | 18,211 | 20 | .15 | 7,412 | 14 | .24 | 14 | (8) | 6 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other investments (e) | Other investments (e) | 618 | 4 | 1.21 | 643 | 1 | .34 | — | 3 | 3 | Other investments (e) | 616 | 5 | 1.14 | 642 | 3 | .72 | — | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total earning assets | Total earning assets | 160,140 | 2,189 | 2.75 | 141,151 | 2,456 | 3.51 | 45 | (312) | (267) | Total earning assets | 161,995 | 3,286 | 2.71 | 145,570 | 3,581 | 3.30 | 29 | (324) | (295) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan and lease losses | Allowance for loan and lease losses | (1,532) | (1,255) | Allowance for loan and lease losses | (1,427) | (1,403) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued income and other assets | Accrued income and other assets | 16,463 | 15,268 | Accrued income and other assets | 16,626 | 15,579 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discontinued assets | Discontinued assets | 668 | 815 | Discontinued assets | 651 | 794 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 175,739 | $ | 155,979 | Total assets | $ | 177,845 | $ | 160,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES | LIABILITIES | LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NOW and money market deposit accounts | NOW and money market deposit accounts | $ | 82,717 | 20 | .05 | $ | 71,009 | 168 | .47 | 24 | (172) | (148) | NOW and money market deposit accounts | $ | 83,599 | 30 | .05 | $ | 74,087 | 194 | .35 | 22 | (186) | (164) | ||||||||||||||||||||||||||||||||||||||||||||||
Savings deposits | Savings deposits | 6,533 | 1 | .03 | 4,893 | 1 | .04 | — | — | — | Savings deposits | 6,730 | 1 | .02 | 5,089 | 2 | .04 | 1 | (2) | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Certificates of deposit ($100,000 or more) | Certificates of deposit ($100,000 or more) | 2,390 | 10 | .85 | 5,630 | 58 | 2.08 | (24) | (24) | (48) | Certificates of deposit ($100,000 or more) | 2,250 | 13 | .77 | 5,036 | 74 | 1.96 | (29) | (32) | (61) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other time deposits | Other time deposits | 2,766 | 6 | .48 | 4,617 | 38 | 1.67 | (11) | (21) | (32) | Other time deposits | 2,644 | 8 | .41 | 4,321 | 49 | 1.53 | (14) | (27) | (41) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-bearing deposits | Total interest-bearing deposits | 94,406 | 37 | .08 | 86,149 | 265 | .62 | (11) | (217) | (228) | Total interest-bearing deposits | 95,223 | 52 | .07 | 88,533 | 319 | .48 | (20) | (247) | (267) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Federal funds purchased and securities sold under repurchase agreements | Federal funds purchased and securities sold under repurchase agreements | 247 | — | .03 | 1,122 | 6 | 1.05 | (3) | (3) | (6) | Federal funds purchased and securities sold under repurchase agreements | 242 | — | .03 | 821 | 6 | .95 | (2) | (4) | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Bank notes and other short-term borrowings | Bank notes and other short-term borrowings | 811 | 4 | .89 | 2,135 | 10 | .90 | (7) | 1 | (6) | Bank notes and other short-term borrowings | 764 | 6 | .96 | 1,674 | 11 | .87 | (7) | 2 | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt (f), (g) | Long-term debt (f), (g) | 12,402 | 114 | 1.85 | 12,698 | 161 | 2.62 | (4) | (43) | (47) | Long-term debt (f), (g) | 12,469 | 168 | 1.80 | 12,733 | 225 | 2.45 | (5) | (52) | (57) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | 107,866 | 155 | .29 | 102,104 | 442 | .87 | (25) | (262) | (287) | Total interest-bearing liabilities | 108,698 | 226 | .28 | 103,761 | 561 | .73 | (35) | (300) | (335) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing deposits | Noninterest-bearing deposits | 46,638 | 33,004 | Noninterest-bearing deposits | 47,800 | 35,922 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued expense and other liabilities | Accrued expense and other liabilities | 3,048 | 2,604 | Accrued expense and other liabilities | 2,853 | 2,518 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discontinued liabilities (g) | Discontinued liabilities (g) | 668 | 815 | Discontinued liabilities (g) | 651 | 794 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | 158,220 | 138,527 | Total liabilities | 160,002 | 142,995 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY | EQUITY | EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Key shareholders’ equity | Key shareholders’ equity | 17,519 | 17,452 | Key shareholders’ equity | 17,843 | 17,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | Noncontrolling interests | — | — | Noncontrolling interests | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total equity | Total equity | 17,519 | 17,452 | Total equity | 17,843 | 17,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and equity | Total liabilities and equity | $ | 175,739 | $ | 155,979 | Total liabilities and equity | $ | 177,845 | $ | 160,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate spread (TE) | Interest rate spread (TE) | 2.46 | % | 2.64 | % | Interest rate spread (TE) | 2.44 | % | 2.57 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income (TE) and net interest margin (TE) | Net interest income (TE) and net interest margin (TE) | 2,035 | 2.56 | % | 2,014 | 2.88 | % | $ | 70 | $ | (50) | $ | 20 | Net interest income (TE) and net interest margin (TE) | 3,060 | 2.53 | % | 3,020 | 2.78 | % | $ | 64 | $ | (24) | $ | 40 | ||||||||||||||||||||||||||||||||||||||||||||
TE adjustment (b) | TE adjustment (b) | 13 | 15 | TE adjustment (b) | 22 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income, GAAP basis | Net interest income, GAAP basis | $ | 2,022 | $ | 1,999 | Net interest income, GAAP basis | $ | 3,038 | $ | 2,999 |
in millions | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | |||||||||||||||||||||||||||||
Assets under management by investment type: | ||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | ||||||||||||||||||||||||||||
Discretionary assets under management by investment type: | Discretionary assets under management by investment type: | |||||||||||||||||||||||||||||||||
Equity | Equity | $ | 30,952 | $ | 29,071 | $ | 27,384 | $ | 24,851 | $ | 23,303 | Equity | $ | 31,361 | $ | 30,952 | $ | 29,071 | $ | 27,384 | $ | 24,851 | ||||||||||||
Securities lending | Securities lending | 135 | 155 | 131 | 130 | 171 | Securities lending | 13 | 135 | 155 | 131 | 130 | ||||||||||||||||||||||
Fixed income | Fixed income | 13,384 | 11,865 | 12,130 | 11,767 | 11,318 | Fixed income | 13,673 | 13,384 | 11,865 | 12,130 | 11,767 | ||||||||||||||||||||||
Money market | Money market | 3,266 | 4,127 | 4,495 | 4,564 | 4,930 | Money market | 4,425 | 3,266 | 4,127 | 4,495 | 4,564 | ||||||||||||||||||||||
Total Discretionary assets under management | Total Discretionary assets under management | 49,472 | 47,737 | 45,218 | 44,140 | 41,312 | ||||||||||||||||||||||||||||
Non-discretionary assets under management | Non-discretionary assets under management | 3,395 | 3,276 | 3,070 | 2,946 | 2,637 | ||||||||||||||||||||||||||||
Total assets under management | Total assets under management | $ | 47,737 | $ | 45,218 | $ | 44,140 | $ | 41,312 | $ | 39,722 | Total assets under management | $ | 52,867 | $ | 51,013 | $ | 48,288 | $ | 47,086 | $ | 43,949 |
Outstanding Balance of Loans and Leases | Outstanding Balance of Loans and Leases | |||||||||||||||||||||||||||
June 30, 2021 | ||||||||||||||||||||||||||||
dollars in millions | Completed Relief | In Active Relief | Total that have Received Payment Relief | |||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Completed Relief | In Active Relief | Total that have Received Payment Relief | ||||||||||||||||||||||||
Commercial Loans | Commercial Loans | $ | 2,445 | $ | 72 | $ | 2,517 | Commercial Loans | $ | 2,092 | $ | 58 | $ | 2,150 | ||||||||||||||
Consumer Loans | Consumer Loans | 1,154 | 187 | 1,341 | Consumer Loans | 883 | 115 | 998 | ||||||||||||||||||||
Total Portfolio Loans and Leases | Total Portfolio Loans and Leases | $ | 3,599 | $ | 259 | $ | 3,858 | Total Portfolio Loans and Leases | $ | 2,975 | $ | 173 | $ | 3,148 | ||||||||||||||
December 31, 2020 | December 31, 2020 | December 31, 2020 | ||||||||||||||||||||||||||
dollars in millions | Completed Relief | In Active Relief | Total that have Received Payment Relief | |||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Completed Relief | In Active Relief | Total that have Received Payment Relief | ||||||||||||||||||||||||
Commercial Loans | Commercial Loans | $ | 2,899 | $ | 181 | $ | 3,079 | Commercial Loans | $ | 2,899 | $ | 181 | $ | 3,079 | ||||||||||||||
Consumer Loans | Consumer Loans | 1,179 | 394 | 1,572 | Consumer Loans | 1,179 | 394 | 1,572 | ||||||||||||||||||||
Total Portfolio Loans and Leases | Total Portfolio Loans and Leases | $ | 4,077 | $ | 575 | $ | 4,652 | Total Portfolio Loans and Leases | $ | 4,077 | $ | 575 | $ | 4,652 |
dollars in millions | Outstanding as of June 30, 2021 | Percentage of total loans as of June 30, 2021 | Outstanding as of December 31, 2020 | Percentage of total loans as of December 31, 2020 | ||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Outstanding as of September 30, 2021 | Percentage of total loans as of September 30, 2021 | Outstanding as of December 31, 2020 | Percentage of total loans as of December 31, 2020 | |||||||||||||||||||||||
Consumer behavior (a) | Consumer behavior (a) | $ | 5,150 | 5.1 | % | $ | 5,083 | 5.0 | % | Consumer behavior (a) | $ | 5,149 | 5.2 | % | $ | 5,083 | 5.0 | % | ||||||||||
Education | Education | 1,645 | 1.6 | 1,541 | 1.5 | Education | 1,615 | 1.6 | 1,541 | 1.5 | ||||||||||||||||||
Sports | Sports | 616 | .6 | 690 | .7 | Sports | 560 | .6 | 690 | .7 | ||||||||||||||||||
Restaurants | Restaurants | 342 | .3 | 400 | .4 | Restaurants | 400 | .4 | 400 | .4 | ||||||||||||||||||
Retail commercial real estate (b) | Retail commercial real estate (b) | 383 | .4 | 525 | .5 | Retail commercial real estate (b) | 349 | .4 | 525 | .5 | ||||||||||||||||||
Nondurable retail (c) | Nondurable retail (c) | 481 | .5 | 638 | .6 | Nondurable retail (c) | 620 | .6 | 638 | .6 | ||||||||||||||||||
Travel/Tourism (d) | Travel/Tourism (d) | 2,309 | 2.3 | 2,523 | 2.5 | Travel/Tourism (d) | 2,269 | 2.3 | 2,523 | 2.5 | ||||||||||||||||||
Hotels | Hotels | 707 | .7 | 784 | .8 | Hotels | 698 | .7 | 784 | .8 | ||||||||||||||||||
Leveraged lending (e) | Leveraged lending (e) | 1,627 | 1.6 | 1,700 | 1.7 | Leveraged lending (e) | 1,846 | 1.9 | 1,700 | 1.7 | ||||||||||||||||||
Oil and gas | Oil and gas | 1,783 | 1.8 | 1,992 | 2.0 | Oil and gas | 1,862 | 1.9 | 1,992 | 2.0 | ||||||||||||||||||
Upstream (reserve based) | Upstream (reserve based) | 1,144 | 1.1 | 1,263 | 1.2 | Upstream (reserve based) | 1,234 | 1.3 | 1,263 | 1.2 | ||||||||||||||||||
Midstream | Midstream | 392 | .4 | 468 | .5 | Midstream | 371 | .4 | 468 | .5 | ||||||||||||||||||
Downstream | Downstream | 59 | .1 | 98 | .1 | Downstream | 64 | .1 | 98 | .1 |
June 30, 2021 | Commercial and industrial | Commercial real estate | Commercial lease financing | Total commercial loans | Percent of total | |||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | Commercial and industrial | Commercial real estate | Commercial lease financing | Total commercial loans | Percent of total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry classification: | Industry classification: | Industry classification: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | Agriculture | $ | 930 | $ | 155 | $ | 95 | $ | 1,180 | 1.7 | % | Agriculture | $ | 898 | $ | 150 | $ | 87 | $ | 1,135 | 1.7 | % | ||||||||||||||||||||||||||||||||||||
Automotive | Automotive | 1,250 | 524 | 16 | 1,790 | 2.6 | Automotive | 1,093 | 592 | 18 | 1,703 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Business products | Business products | 1,501 | 136 | 43 | 1,680 | 2.4 | Business products | 1,580 | 133 | 42 | 1,755 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Business services | Business services | 3,637 | 217 | 196 | 4,050 | 5.8 | Business services | 3,355 | 229 | 189 | 3,773 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Chemicals | Chemicals | 737 | 30 | 26 | 793 | 1.1 | Chemicals | 764 | 35 | 22 | 821 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | Commercial real estate | 5,710 | 10,542 | 10 | 16,262 | 23.3 | Commercial real estate | 6,325 | 11,085 | 9 | 17,419 | 25.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction materials and contractors | Construction materials and contractors | 2,663 | 287 | 236 | 3,186 | 4.6 | Construction materials and contractors | 2,354 | 323 | 238 | 2,915 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer goods | Consumer goods | 3,572 | 494 | 251 | 4,317 | 6.2 | Consumer goods | 3,674 | 499 | 244 | 4,417 | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer services | Consumer services | 5,651 | 934 | 504 | 7,089 | 10.1 | Consumer services | 5,095 | 923 | 444 | 6,462 | 9.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Equipment | Equipment | 1,414 | 111 | 126 | 1,651 | 2.4 | Equipment | 1,431 | 82 | 115 | 1,628 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Finance | Finance | 5,937 | 99 | 385 | 6,421 | 9.2 | Finance | 6,328 | 87 | 369 | 6,784 | 9.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Healthcare | Healthcare | 3,428 | 1,282 | 274 | 4,984 | 7.1 | Healthcare | 3,040 | 1,365 | 254 | 4,659 | 6.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Metals and mining | Metals and mining | 1,092 | 56 | 22 | 1,170 | 1.7 | Metals and mining | 1,093 | 75 | 57 | 1,225 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Oil and gas | Oil and gas | 1,746 | 22 | 47 | 1,815 | 2.6 | Oil and gas | 1,825 | 22 | 40 | 1,887 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||
Public exposure | Public exposure | 3,006 | 15 | 696 | 3,717 | 5.3 | Public exposure | 2,947 | 16 | 674 | 3,637 | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Technology | Technology | 717 | 17 | 131 | 865 | 1.2 | Technology | 679 | 10 | 183 | 872 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Transportation | Transportation | 1,461 | 123 | 602 | 2,186 | 3.1 | Transportation | 1,280 | 113 | 574 | 1,967 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Utilities | Utilities | 5,180 | 1 | 395 | 5,576 | 8.0 | Utilities | 5,055 | — | 407 | 5,462 | 7.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 1,040 | 52 | 6 | 1,098 | 1.6 | Other | 737 | 55 | 16 | 808 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 50,672 | $ | 15,097 | $ | 4,061 | $ | 69,830 | 100.0 | % | Total | $ | 49,553 | $ | 15,794 | $ | 3,982 | $ | 69,329 | 100.0 | % | ||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | Commercial and industrial | Commercial real estate | Commercial lease financing | Total commercial loans | Percent of total | December 31, 2020 | Commercial and industrial | Commercial real estate | Commercial lease financing | Total commercial loans | Percent of total | ||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Commercial and industrial | Commercial real estate | Commercial lease financing | Total commercial loans | Percent of total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry classification: | Industry classification: | Industry classification: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | Agriculture | $ | 1,002 | $ | 148 | $ | 97 | $ | 1,247 | 1.7 | % | Agriculture | $ | 1,002 | $ | 148 | $ | 97 | $ | 1,247 | 1.7 | % | ||||||||||||||||||||||||||||||||||||
Automotive | Automotive | 1,863 | 510 | 19 | 2,392 | 3.3 | Automotive | 1,863 | 510 | 19 | 2,392 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Business products | Business products | 1,523 | 117 | 45 | 1,685 | 2.3 | Business products | 1,523 | 117 | 45 | 1,685 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Business services | Business services | 4,098 | 221 | 202 | 4,521 | 6.3 | Business services | 4,098 | 221 | 202 | 4,521 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Chemicals | Chemicals | 700 | 30 | 34 | 764 | 1.1 | Chemicals | 700 | 30 | 34 | 764 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | Commercial real estate | 5,966 | 10,187 | 11 | 16,164 | 22.5 | Commercial real estate | 5,966 | 10,187 | 11 | 16,164 | 22.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Construction materials and contractors | Construction materials and contractors | 2,571 | 271 | 233 | 3,075 | 4.3 | Construction materials and contractors | 2,571 | 271 | 233 | 3,075 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer goods | Consumer goods | 3,832 | 404 | 371 | 4,607 | 6.4 | Consumer goods | 3,832 | 404 | 371 | 4,607 | 6.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer services | Consumer services | 6,123 | 900 | 525 | 7,548 | 10.5 | Consumer services | 6,123 | 900 | 525 | 7,548 | 10.5 | ||||||||||||||||||||||||||||||||||||||||||||||
Equipment | Equipment | 1,447 | 84 | 120 | 1,651 | 2.3 | Equipment | 1,447 | 84 | 120 | 1,651 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Finance | Finance | 6,190 | 92 | 396 | 6,678 | 9.3 | Finance | 6,190 | 92 | 396 | 6,678 | 9.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Healthcare | Healthcare | 4,348 | 1,396 | 306 | 6,050 | 8.4 | Healthcare | 4,348 | 1,396 | 306 | 6,050 | 8.4 | ||||||||||||||||||||||||||||||||||||||||||||||
Metals and mining | Metals and mining | 1,074 | 56 | 29 | 1,159 | 1.6 | Metals and mining | 1,074 | 56 | 29 | 1,159 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Oil and gas | Oil and gas | 1,928 | 43 | 62 | 2,033 | 2.8 | Oil and gas | 1,928 | 43 | 62 | 2,033 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Public exposure | Public exposure | 2,332 | 25 | 709 | 3,066 | 4.3 | Public exposure | 2,332 | 25 | 709 | 3,066 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Technology | Technology | 741 | 20 | 191 | 952 | 1.2 | Technology | 741 | 20 | 191 | 952 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||
Transportation | Transportation | 1,434 | 144 | 631 | 2,209 | 3.1 | Transportation | 1,434 | 144 | 631 | 2,209 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Utilities | Utilities | 5,239 | 1 | 397 | 5,637 | 7.8 | Utilities | 5,239 | 1 | 397 | 5,637 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 496 | 25 | 21 | 542 | .8 | Other | 496 | 25 | 21 | 542 | .8 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 52,907 | $ | 14,674 | $ | 4,399 | $ | 71,980 | 100.0 | % | Total | $ | 52,907 | $ | 14,674 | $ | 4,399 | $ | 71,980 | 100.0 | % |
Geographic Region | Total | Percent of Total | Construction | Commercial Mortgage | Geographic Region | Total | Percent of Total | Construction | Commercial Mortgage | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | West | Southwest | Central | Midwest | Southeast | Northeast | National | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | West | Southwest | Central | Midwest | Southeast | Northeast | National | Total | Percent of Total | Construction | Commercial Mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonowner-occupied: | Nonowner-occupied: | Nonowner-occupied: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail properties | Retail properties | $ | 120 | $ | 38 | $ | 140 | $ | 133 | $ | 63 | $ | 377 | $ | 152 | $ | 1,023 | 6.8 | % | $ | 56 | $ | 967 | Retail properties | $ | 121 | $ | 15 | $ | 129 | $ | 152 | $ | 55 | $ | 338 | $ | 225 | $ | 1,035 | 6.5 | % | $ | 67 | $ | 966 | ||||||||||||||||||||||||
Multifamily properties | Multifamily properties | 665 | 418 | 1,029 | 997 | 1,082 | 1,573 | 212 | 5,976 | 39.5 | 1,542 | 4,434 | Multifamily properties | 742 | 505 | 1,133 | 1,051 | 1,500 | 1,434 | 242 | 6,607 | 41.8 | 1,492 | 5,114 | ||||||||||||||||||||||||||||||||||||||||||||||
Health facilities | Health facilities | 130 | 51 | 104 | 114 | 177 | 369 | 317 | 1,262 | 8.4 | 119 | 1,142 | Health facilities | 118 | 51 | 112 | 90 | 168 | 490 | 317 | 1,346 | 8.5 | 137 | 1,209 | ||||||||||||||||||||||||||||||||||||||||||||||
Office buildings | Office buildings | 294 | — | 235 | 143 | 222 | 565 | 93 | 1,552 | 10.3 | 52 | 1,502 | Office buildings | 279 | 1 | 239 | 136 | 144 | 556 | 73 | 1,428 | 9.1 | 29 | 1,400 | ||||||||||||||||||||||||||||||||||||||||||||||
Warehouses | Warehouses | 74 | 32 | 75 | 35 | 64 | 229 | 203 | 712 | 4.7 | 47 | 667 | Warehouses | 81 | 56 | 69 | 39 | 139 | 234 | 146 | 764 | 4.9 | 69 | 697 | ||||||||||||||||||||||||||||||||||||||||||||||
Manufacturing facilities | Manufacturing facilities | 24 | — | 28 | 24 | 25 | 37 | 48 | 186 | 1.2 | 19 | 167 | Manufacturing facilities | 7 | — | 21 | 30 | 32 | 36 | 48 | 174 | 1.1 | — | 175 | ||||||||||||||||||||||||||||||||||||||||||||||
Hotels/Motels | Hotels/Motels | 75 | — | 19 | 4 | 16 | 109 | 92 | 315 | 2.1 | 19 | 296 | Hotels/Motels | 75 | — | 21 | 4 | 16 | 108 | 97 | 321 | 2.0 | 19 | 302 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential properties | Residential properties | — | — | — | 3 | — | 47 | — | 50 | .3 | — | 49 | Residential properties | — | — | — | 3 | — | 47 | — | 50 | .3 | 2 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||
Land and development | Land and development | 13 | 5 | 4 | 2 | 5 | 26 | — | 55 | .4 | 33 | 22 | Land and development | 13 | 4 | 4 | 2 | 5 | 25 | — | 53 | .3 | 32 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 127 | 23 | 7 | 109 | 60 | 223 | 265 | 814 | 5.4 | 62 | 750 | Other | 130 | 21 | 9 | 81 | 57 | 203 | 264 | 765 | 4.9 | 59 | 705 | ||||||||||||||||||||||||||||||||||||||||||||||
Total nonowner-occupied | Total nonowner-occupied | 1,522 | 567 | 1,641 | 1,564 | 1,714 | 3,555 | 1,382 | 11,945 | 79.1 | 1,949 | 9,996 | Total nonowner-occupied | 1,566 | 653 | 1,737 | 1,588 | 2,116 | 3,471 | 1,412 | 12,543 | 79.4 | 1,906 | 10,637 | ||||||||||||||||||||||||||||||||||||||||||||||
Owner-occupied | Owner-occupied | 971 | 1 | 290 | 519 | 101 | 1,270 | — | 3,152 | 20.9 | 183 | 2,969 | Owner-occupied | 1,012 | — | 305 | 517 | 126 | 1,291 | — | 3,251 | 20.6 | 214 | 3,037 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,493 | $ | 568 | $ | 1,931 | $ | 2,083 | $ | 1,815 | $ | 4,825 | $ | 1,382 | 15,097 | 100.0 | % | $ | 2,132 | $ | 12,965 | Total | $ | 2,578 | $ | 653 | $ | 2,042 | $ | 2,105 | $ | 2,242 | $ | 4,762 | $ | 1,412 | $ | 15,794 | 100.0 | % | $ | 2,120 | $ | 13,674 | |||||||||||||||||||||||||
Nonperforming loans | Nonperforming loans | — | — | — | $ | 2 | — | $ | 34 | $ | 29 | $ | 65 | N/M | — | $ | 65 | Nonperforming loans | $ | — | — | — | $ | 3 | $ | — | $ | 18 | $ | 28 | $ | 49 | N/M | $ | — | $ | 49 | |||||||||||||||||||||||||||||||||
Accruing loans past due 90 days or more | Accruing loans past due 90 days or more | — | — | $ | 1 | — | — | 13 | — | 14 | N/M | — | 14 | Accruing loans past due 90 days or more | — | — | — | 1 | — | 5 | — | 6 | N/M | 1 | 5 | |||||||||||||||||||||||||||||||||||||||||||||
Accruing loans past due 30 through 89 days | Accruing loans past due 30 through 89 days | $ | 2 | — | 8 | — | — | 9 | — | 19 | N/M | $ | 1 | 18 | Accruing loans past due 30 through 89 days | 2 | — | — | 9 | — | 4 | — | 15 | N/M | 1 | 14 | ||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonowner-occupied: | Nonowner-occupied: | Nonowner-occupied: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail properties | Retail properties | $ | 119 | $ | 15 | $ | 129 | $ | 122 | $ | 72 | $ | 448 | $ | 122 | $ | 1,027 | 6.8 | % | $ | 54 | $ | 973 | Retail properties | $ | 119 | $ | 15 | $ | 129 | $ | 122 | $ | 72 | $ | 448 | $ | 122 | $ | 1,027 | 6.8 | % | $ | 54 | $ | 973 | ||||||||||||||||||||||||
Multifamily properties | Multifamily properties | 685 | 228 | 875 | 800 | 1,284 | 1,493 | 229 | 5,594 | 38.1 | 1,442 | 4,152 | Multifamily properties | 685 | 228 | 875 | 800 | 1,284 | 1,493 | 229 | 5,594 | 38.1 | 1,442 | 4,152 | ||||||||||||||||||||||||||||||||||||||||||||||
Health facilities | Health facilities | 83 | 53 | 85 | 87 | 170 | 487 | 338 | 1,303 | 8.7 | 91 | 1,212 | Health facilities | 83 | 53 | 85 | 87 | 170 | 487 | 338 | 1,303 | 8.7 | 91 | 1,212 | ||||||||||||||||||||||||||||||||||||||||||||||
Office buildings | Office buildings | 276 | — | 253 | 142 | 193 | 628 | 147 | 1,639 | 11.2 | 48 | 1,591 | Office buildings | 276 | — | 253 | 142 | 193 | 628 | 147 | 1,639 | 11.2 | 48 | 1,591 | ||||||||||||||||||||||||||||||||||||||||||||||
Warehouses | Warehouses | 54 | 31 | 66 | 40 | 52 | 259 | 161 | 663 | 4.6 | 74 | 589 | Warehouses | 54 | 31 | 66 | 40 | 52 | 259 | 161 | 663 | 4.6 | 74 | 589 | ||||||||||||||||||||||||||||||||||||||||||||||
Manufacturing facilities | Manufacturing facilities | 42 | — | 28 | 15 | 40 | 34 | 43 | 202 | 1.3 | 10 | 192 | Manufacturing facilities | 42 | — | 28 | 15 | 40 | 34 | 43 | 202 | 1.3 | 10 | 192 | ||||||||||||||||||||||||||||||||||||||||||||||
Hotels/Motels | Hotels/Motels | 76 | — | 19 | — | 12 | 107 | 91 | 305 | 2.1 | 18 | 287 | Hotels/Motels | 76 | — | 19 | — | 12 | 107 | 91 | 305 | 2.1 | 18 | 287 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential properties | Residential properties | — | — | — | 3 | — | 53 | — | 56 | .4 | — | 56 | Residential properties | — | — | — | 3 | — | 53 | — | 56 | .4 | — | 56 | ||||||||||||||||||||||||||||||||||||||||||||||
Land and development | Land and development | 15 | 5 | — | 2 | 5 | 28 | — | 55 | .4 | 33 | 22 | Land and development | 15 | 5 | — | 2 | 5 | 28 | — | 55 | .4 | 33 | 22 | ||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 108 | 22 | 6 | 93 | 69 | 245 | 279 | 822 | 6.4 | 65 | 757 | Other | 108 | 22 | 6 | 93 | 69 | 245 | 279 | 822 | 6.4 | 65 | 757 | ||||||||||||||||||||||||||||||||||||||||||||||
Total nonowner-occupied | Total nonowner-occupied | 1,458 | 354 | 1,461 | 1,304 | 1,897 | 3,782 | 1,410 | 11,666 | 80.0 | 1,835 | 9,831 | Total nonowner-occupied | 1,458 | 354 | 1,461 | 1,304 | 1,897 | 3,782 | 1,410 | 11,666 | 80.0 | 1,835 | 9,831 | ||||||||||||||||||||||||||||||||||||||||||||||
Owner-occupied | Owner-occupied | 870 | 4 | 275 | 499 | 63 | 1,297 | — | 3,008 | 20.0 | 152 | 2,856 | Owner-occupied | 870 | 4 | 275 | 499 | 63 | 1,297 | — | 3,008 | 20.0 | 152 | 2,856 | ||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 2,328 | $ | 358 | $ | 1,736 | $ | 1,803 | $ | 1,960 | $ | 5,079 | $ | 1,410 | $ | 14,674 | 100.0 | % | $ | 1,987 | $ | 12,687 | Total | $ | 2,328 | $ | 358 | $ | 1,736 | $ | 1,803 | $ | 1,960 | $ | 5,079 | $ | 1,410 | $ | 14,674 | 100.0 | % | $ | 1,987 | $ | 12,687 | ||||||||||||||||||||||||
Nonperforming loans | Nonperforming loans | $ | 1 | — | — | $ | 7 | $ | 6 | $ | 44 | $ | 44 | $ | 103 | N/M | $ | 2 | $ | 85 | Nonperforming loans | $ | 1 | — | — | $ | 7 | $ | 6 | $ | 44 | $ | 44 | $ | 102 | N/M | $ | — | $ | 102 | ||||||||||||||||||||||||||||||
Accruing loans past due 90 days or more | Accruing loans past due 90 days or more | — | — | — | 1 | — | 22 | — | 22 | N/M | 1 | 12 | Accruing loans past due 90 days or more | — | — | — | 1 | — | 22 | — | 23 | N/M | 1 | 22 | ||||||||||||||||||||||||||||||||||||||||||||||
Accruing loans past due 30 through 89 days | Accruing loans past due 30 through 89 days | 3 | — | — | 2 | 3 | 7 | — | 14 | N/M | 2 | 14 | Accruing loans past due 30 through 89 days | 3 | — | — | 2 | 3 | 7 | — | 15 | N/M | — | 15 |
West – | Alaska, California, Hawaii, Idaho, Montana, Oregon, Washington, and Wyoming | ||||
Southwest – | Arizona, Nevada, and New Mexico | ||||
Central – | Arkansas, Colorado, Oklahoma, Texas, and Utah | ||||
Midwest – | Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin | ||||
Southeast – | Alabama, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington D.C., and West Virginia | ||||
Northeast – | Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont | ||||
National – | Accounts in three or more regions |
in millions | Real estate — residential mortgage | Home equity loans | Consumer direct loans | Credit cards | Consumer indirect loans | Total | ||||||||||||||||||||||||||||||||||
June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Real estate — residential mortgage | Home equity loans | Consumer direct loans | Credit cards | Consumer indirect loans | Total | |||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
New York | New York | $ | 1,143 | $ | 2,577 | $ | 601 | $ | 328 | $ | 568 | $ | 5,217 | New York | $ | 1,272 | $ | 2,526 | $ | 617 | $ | 329 | $ | 3 | $ | 4,747 | ||||||||||||||
Ohio | Ohio | 1,307 | 1,369 | 466 | 194 | 795 | 4,131 | Ohio | 1,042 | 1,339 | 464 | 196 | 9 | 3,050 | ||||||||||||||||||||||||||
Washington | Washington | 2,682 | 1,184 | 233 | 80 | 16 | 4,195 | Washington | 3,772 | 1,128 | 228 | 79 | 3 | 5,210 | ||||||||||||||||||||||||||
Pennsylvania | Pennsylvania | 321 | 652 | 273 | 50 | 436 | 1,732 | Pennsylvania | 343 | 645 | 291 | 51 | 4 | 1,334 | ||||||||||||||||||||||||||
California | California | 1,168 | 13 | 355 | 3 | 15 | 1,554 | California | 1,521 | 14 | 383 | 3 | 12 | 1,933 | ||||||||||||||||||||||||||
Maine | 127 | 409 | 71 | 31 | 297 | 935 | ||||||||||||||||||||||||||||||||||
Texas | Texas | 160 | 5 | 313 | 4 | 5 | 487 | |||||||||||||||||||||||||||||||||
Colorado | Colorado | 1,202 | 301 | 145 | 28 | 5 | 1,681 | Colorado | 1,169 | 285 | 150 | 28 | — | 1,632 | ||||||||||||||||||||||||||
Connecticut | Connecticut | 856 | 337 | 90 | 24 | 111 | 1,418 | Connecticut | 843 | 325 | 93 | 24 | 2 | 1,287 | ||||||||||||||||||||||||||
Oregon | Oregon | 855 | 744 | 105 | 39 | 3 | 1,746 | Oregon | 964 | 702 | 109 | 39 | 1 | 1,815 | ||||||||||||||||||||||||||
Massachusetts | 294 | 49 | 115 | 5 | 369 | 832 | ||||||||||||||||||||||||||||||||||
Florida | Florida | 523 | 53 | 326 | 12 | 10 | 924 | |||||||||||||||||||||||||||||||||
Other | Other | 2,176 | 1,412 | 2,595 | 141 | 1,135 | 7,459 | Other | 2,595 | 1,725 | 2,350 | 163 | 28 | 6,861 | ||||||||||||||||||||||||||
Total | Total | $ | 12,131 | $ | 9,047 | $ | 5,049 | $ | 923 | $ | 3,750 | $ | 30,900 | Total | $ | 14,204 | $ | 8,747 | $ | 5,324 | $ | 928 | $ | 77 | $ | 29,280 | ||||||||||||||
December 31, 2020 | December 31, 2020 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||
New York | New York | $ | 1,164 | $ | 2,553 | $ | 593 | $ | 353 | $ | 731 | $ | 5,394 | New York | $ | 1,164 | $ | 2,553 | $ | 593 | $ | 353 | $ | 731 | $ | 5,394 | ||||||||||||||
Ohio | Ohio | 698 | 1,375 | 479 | 217 | 957 | 3,726 | Ohio | 698 | 1,375 | 479 | 217 | 957 | 3,726 | ||||||||||||||||||||||||||
Washington | Washington | 1,835 | 1,300 | 236 | 86 | 20 | 3,477 | Washington | 1,835 | 1,300 | 236 | 86 | 20 | 3,477 | ||||||||||||||||||||||||||
Pennsylvania | Pennsylvania | 286 | 648 | 255 | 52 | 539 | 1,780 | Pennsylvania | 286 | 648 | 255 | 52 | 539 | 1,780 | ||||||||||||||||||||||||||
California | California | 516 | 14 | 303 | 4 | 19 | 856 | California | 516 | 14 | 303 | 4 | 19 | 856 | ||||||||||||||||||||||||||
Texas | Texas | 74 | 7 | 241 | 3 | 10 | 335 | Texas | 74 | 7 | 241 | 3 | 10 | 335 | ||||||||||||||||||||||||||
Colorado | Colorado | 828 | 345 | 140 | 30 | 6 | 1,349 | Colorado | 828 | 345 | 140 | 30 | 6 | 1,349 | ||||||||||||||||||||||||||
Connecticut | Connecticut | 914 | 352 | 87 | 25 | 141 | 1,519 | Connecticut | 914 | 352 | 87 | 25 | 141 | 1,519 | ||||||||||||||||||||||||||
Oregon | Oregon | 720 | 782 | 97 | 41 | 4 | 1,644 | Oregon | 720 | 782 | 97 | 41 | 4 | 1,644 | ||||||||||||||||||||||||||
Massachusetts | Massachusetts | 239 | 48 | 103 | 5 | 460 | 855 | Massachusetts | 239 | 48 | 103 | 5 | 460 | 855 | ||||||||||||||||||||||||||
Other | Other | 2,024 | 1,936 | 2,180 | 173 | 1,957 | 8,270 | Other | 2,024 | 1,936 | 2,180 | 173 | 1,957 | 8,270 | ||||||||||||||||||||||||||
Total | Total | $ | 9,298 | $ | 9,360 | $ | 4,714 | $ | 989 | $ | 4,844 | $ | 29,205 | Total | $ | 9,298 | $ | 9,360 | $ | 4,714 | $ | 989 | $ | 4,844 | $ | 29,205 |
in millions | Commercial | Commercial Real Estate | Commercial Lease Financing | Residential Real Estate | Consumer Direct | Total | |||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Commercial | Commercial Real Estate | Commercial Lease Financing | Residential Real Estate | Consumer Direct | Consumer indirect | Total | |||||||||||||||||||||||||||||||||||
2021 | 2021 | 2021 | |||||||||||||||||||||||||||||||||||||||||
Third quarter | Third quarter | $ | 215 | $ | 1,996 | $ | 68 | $ | 901 | — | $ | 3,305 | $ | 6,485 | |||||||||||||||||||||||||||||
Second quarter | Second quarter | $ | 1,085 | $ | 1,907 | $ | 75 | $ | 1,192 | — | $ | 4,259 | Second quarter | 1,085 | 1,907 | 75 | 1,192 | — | — | 4,259 | |||||||||||||||||||||||
First quarter | First quarter | 124 | 1,930 | 156 | 1,129 | — | 3,339 | First quarter | 124 | 1,930 | 156 | 1,129 | — | — | 3,339 | ||||||||||||||||||||||||||||
Total | Total | $ | 1,209 | $ | 3,837 | $ | 231 | $ | 2,321 | — | $ | 7,598 | Total | $ | 1,424 | $ | 5,833 | $ | 299 | $ | 3,222 | — | $ | 3,305 | $ | 14,083 | |||||||||||||||||
2020 | 2020 | 2020 | |||||||||||||||||||||||||||||||||||||||||
Fourth quarter | Fourth quarter | $ | 197 | $ | 2,412 | $ | 135 | $ | 1,256 | — | $ | 4,000 | Fourth quarter | $ | 197 | $ | 2,412 | $ | 135 | $ | 1,256 | — | — | $ | 4,000 | ||||||||||||||||||
Third quarter | Third quarter | 163 | 1,999 | 67 | 1,235 | $ | 208 | 3,672 | Third quarter | 163 | 1,999 | 67 | 1,235 | $ | 208 | — | 3,672 | ||||||||||||||||||||||||||
Second quarter | Second quarter | 82 | 2,661 | 47 | 925 | — | 3,715 | Second quarter | 82 | 2,661 | 47 | 925 | — | — | 3,715 | ||||||||||||||||||||||||||||
First quarter | First quarter | 55 | 2,022 | 81 | 546 | — | 2,704 | First quarter | 55 | 2,022 | 81 | 546 | — | — | 2,704 | ||||||||||||||||||||||||||||
Total | Total | $ | 497 | $ | 9,094 | $ | 330 | $ | 3,962 | $ | 208 | $ | 14,091 | Total | $ | 497 | $ | 9,094 | $ | 330 | $ | 3,962 | $ | 208 | — | $ | 14,091 |
in millions | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | |||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | ||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | $ | 400,215 | $ | 386,908 | $ | 371,016 | $ | 380,110 | $ | 357,509 | Commercial real estate loans | $ | 422,091 | $ | 400,215 | $ | 386,908 | $ | 371,016 | $ | 380,110 | ||||||||||||
Residential mortgage | Residential mortgage | 9,466 | 8,838 | 8,311 | 7,670 | 6,922 | Residential mortgage | 9,844 | 9,466 | 8,838 | 8,311 | 7,670 | ||||||||||||||||||||||
Education loans | Education loans | 465 | 489 | 516 | 540 | 567 | Education loans | 442 | 465 | 489 | 516 | 540 | ||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 1,284 | 1,371 | 1,359 | 1,273 | 1,126 | Commercial lease financing | 1,318 | 1,284 | 1,371 | 1,359 | 1,273 | ||||||||||||||||||||||
Commercial loans | Commercial loans | 716 | 695 | 684 | 652 | 623 | Commercial loans | 743 | 716 | 695 | 684 | 652 | ||||||||||||||||||||||
Consumer direct | Consumer direct | 943 | 1,109 | 1,711 | 1,966 | 1,710 | Consumer direct | 798 | 943 | 1,109 | 1,711 | 1,966 | ||||||||||||||||||||||
Consumer indirect | Consumer indirect | 3,109 | — | — | — | — | ||||||||||||||||||||||||||||
Total | Total | $ | 413,089 | $ | 399,410 | $ | 383,597 | $ | 392,211 | $ | 368,457 | Total | $ | 438,345 | $ | 413,089 | $ | 399,410 | $ | 383,597 | $ | 392,211 |
in millions | June 30, 2021 | December 31, 2020 | ||||||||||||||
Dollars in millions | Dollars in millions | September 30, 2021 | December 31, 2020 | |||||||||||||
FHLMC | FHLMC | $ | 8,755 | $ | 8,782 | FHLMC | $ | 9,213 | $ | 8,782 | ||||||
FNMA | FNMA | 16,560 | 13,213 | FNMA | 17,317 | 13,213 | ||||||||||
GNMA | GNMA | 10,560 | 12,109 | GNMA | 10,673 | 12,109 | ||||||||||
Total (a) | Total (a) | $ | 35,875 | $ | 34,104 | Total (a) | $ | 37,203 | $ | 34,104 |
dollars in millions | U.S. Treasury, Agencies, and Corporations | Agency Residential Collateralized Mortgage Obligations (a) | Agency Residential Mortgage-backed Securities (a) | Agency Commercial Mortgage-backed Securities (a) | Other Securities | Total | Weighted-Average Yield (b) | |||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | U.S. Treasury, Agencies, and Corporations | Agency Residential Collateralized Mortgage Obligations (a) | Agency Residential Mortgage-backed Securities (a) | Agency Commercial Mortgage-backed Securities (a) | Other Securities | Total | Weighted-Average Yield (b) | ||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining maturity: | Remaining maturity: | Remaining maturity: | ||||||||||||||||||||||||||||||||||||||||||||||||||
One year or less | One year or less | — | $ | 261 | $ | 2 | — | $ | 21 | $ | 284 | 2.48 | % | One year or less | — | $ | 222 | $ | 3 | — | $ | 22 | $ | 247 | 2.07 | % | ||||||||||||||||||||||||||
After one through five years | After one through five years | $ | 4,886 | 5,558 | 2,520 | $ | 2,857 | — | 15,821 | 1.58 | After one through five years | $ | 8,938 | 5,954 | 2,450 | $ | 2,734 | — | 20,076 | 1.32 | ||||||||||||||||||||||||||||||||
After five through ten years | After five through ten years | — | 7,462 | 2,354 | 5,106 | 1 | 14,923 | 1.54 | After five through ten years | — | 8,943 | 2,740 | 5,444 | 1 | 17,128 | 1.50 | ||||||||||||||||||||||||||||||||||||
After ten years | After ten years | — | 1,093 | 2 | 2,515 | — | 3,610 | 1.48 | After ten years | — | 985 | 215 | 1,943 | — | 3,143 | 1.50 | ||||||||||||||||||||||||||||||||||||
Fair value | Fair value | $ | 4,886 | $ | 14,374 | $ | 4,878 | $ | 10,478 | $ | 22 | $ | 34,638 | — | Fair value | $ | 8,938 | $ | 16,104 | $ | 5,408 | $ | 10,121 | $ | 23 | $ | 40,594 | — | ||||||||||||||||||||||||
Amortized cost | Amortized cost | $ | 4,900 | $ | 14,374 | $ | 4,848 | $ | 10,345 | $ | 8 | $ | 34,475 | 1.56 | % | Amortized cost | $ | 8,960 | $ | 16,143 | $ | 5,409 | $ | 10,141 | $ | 8 | $ | 40,661 | 1.42 | % | ||||||||||||||||||||||
Weighted-average yield (b) | Weighted-average yield (b) | .29 | % | 1.63 | % | 1.62 | % | 2.03 | % | .02 | % | 1.56 | % | — | Weighted-average yield (b) | .36 | % | 1.56 | % | 1.60 | % | 2.02 | % | .04 | % | 1.42 | % | — | ||||||||||||||||||||||||
Weighted-average maturity | Weighted-average maturity | 2.7 years | 6.2 years | 4.9 years | 8.0 years | .3 years | 6.1 years | — | Weighted-average maturity | 2.7 years | 6.1 years | 5.2 years | 7.9 years | .6 years | 5.7 years | — | ||||||||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | Fair value | $ | 1,000 | $ | 14,273 | $ | 2,164 | $ | 10,106 | $ | 13 | $ | 27,556 | — | Fair value | $ | 1,000 | $ | 14,273 | $ | 2,164 | $ | 10,106 | $ | 13 | $ | 27,556 | — | ||||||||||||||||||||||||
Amortized cost | Amortized cost | 1,000 | 14,001 | 2,094 | 9,707 | 8 | 26,810 | 2.09 | % | Amortized cost | 1,000 | 14,001 | 2,094 | 9,707 | 8 | 26,810 | 2.09 | % |
dollars in millions | Agency Residential Collateralized Mortgage Obligations (a) | Agency Residential Mortgage-backed Securities (a) | Agency Commercial Mortgage-backed Securities (a) | Asset-backed securities | Other Securities | Total | Weighted-Average Yield (b) | |||||||||||||||||||||||||||||||||||||||
June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Agency Residential Collateralized Mortgage Obligations (a) | Agency Residential Mortgage-backed Securities (a) | Agency Commercial Mortgage-backed Securities (a) | Asset-backed securities | Other Securities | Total | Weighted-Average Yield (b) | ||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||
Remaining maturity: | Remaining maturity: | Remaining maturity: | ||||||||||||||||||||||||||||||||||||||||||||
One year or less | One year or less | $ | 117 | — | — | — | $ | 4 | $ | 121 | 2.09 | % | One year or less | $ | 89 | — | — | — | $ | 4 | $ | 93 | 2.15 | % | ||||||||||||||||||||||
After one through five years | After one through five years | 1,924 | $ | 179 | $ | 1,805 | $ | 14 | 12 | 3,934 | 2.41 | After one through five years | 1,668 | $ | 158 | $ | 1,655 | $ | 2,837 | 12 | 6,330 | 2.27 | ||||||||||||||||||||||||
After five through ten years | After five through ten years | 820 | 28 | 1,272 | — | — | 2,120 | 2.62 | After five through ten years | 728 | 26 | 1,246 | — | — | 2,000 | 2.63 | ||||||||||||||||||||||||||||||
After ten years | After ten years | — | — | — | — | — | — | — | After ten years | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Amortized cost | Amortized cost | $ | 2,861 | $ | 207 | $ | 3,077 | $ | 14 | $ | 16 | $ | 6,175 | 2.48 | % | Amortized cost | $ | 2,485 | $ | 184 | $ | 2,901 | $ | 2,837 | $ | 16 | $ | 8,423 | 2.36 | % | ||||||||||||||||
Fair value | Fair value | $ | 2,952 | $ | 215 | $ | 3,277 | $ | 14 | $ | 16 | $ | 6,474 | — | Fair value | $ | 2,554 | $ | 191 | $ | 3,066 | $ | 2,837 | $ | 16 | $ | 8,664 | — | ||||||||||||||||||
Weighted-average yield (b) | Weighted-average yield (b) | 2.10 | % | 2.50 | % | 2.83 | % | 1.79 | % | 2.63 | % | 2.48 | % | — | Weighted-average yield (b) | 2.10 | % | 2.50 | % | 2.82 | % | 2.10 | % | 2.63 | % | 2.36 | % | — | ||||||||||||||||||
Weighted-average maturity | Weighted-average maturity | 3.9 years | 4.4 years | 5.0 years | 3.1 years | 2.5 years | 4.4 years | — | Weighted-average maturity | 3.8 years | 4.4 years | 4.9 years | 2.8 years | 2.3 years | 3.9 years | — | ||||||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Amortized cost | Amortized cost | $ | 3,775 | $ | 271 | $ | 3,515 | 19 | $ | 15 | $ | 7,595 | 2.46 | % | Amortized cost | $ | 3,775 | $ | 271 | $ | 3,515 | 19 | $ | 15 | $ | 7,595 | 2.46 | % | ||||||||||||||||||
Fair value | Fair value | 3,899 | 285 | 3,805 | 19 | 15 | 8,023 | — | Fair value | 3,899 | 285 | 3,805 | 19 | 15 | 8,023 | — |
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||
in thousands | Second | First | Fourth | Third | Second | |||||||||||||||||||||||||||||||||||
In thousands | In thousands | Third | Second | First | Fourth | Third | ||||||||||||||||||||||||||||||||||
Shares outstanding at beginning of period | Shares outstanding at beginning of period | 972,587 | 975,773 | 976,205 | 975,947 | 975,319 | Shares outstanding at beginning of period | 960,276 | 972,587 | 975,773 | 976,205 | 975,947 | ||||||||||||||||||||||||||||
Open market repurchases and return of shares under employee compensation plans | (13,304) | (9,277) | (1,092) | (1) | (19) | |||||||||||||||||||||||||||||||||||
Open market repurchases, repurchases under an ASR program, and return of shares under employee compensation plans | Open market repurchases, repurchases under an ASR program, and return of shares under employee compensation plans | (29,923) | (13,304) | (9,277) | (1,092) | (1) | ||||||||||||||||||||||||||||||||||
Shares issued under employee compensation plans (net of cancellations) | Shares issued under employee compensation plans (net of cancellations) | 993 | 6,091 | 660 | 259 | 647 | Shares issued under employee compensation plans (net of cancellations) | 191 | 993 | 6,091 | 660 | 259 | ||||||||||||||||||||||||||||
Shares outstanding at end of period | Shares outstanding at end of period | 960,276 | 972,587 | 975,773 | 976,205 | 975,947 | Shares outstanding at end of period | 930,544 | 960,276 | 972,587 | 975,773 | 976,205 |
dollars in millions | June 30, 2021 | December 31, 2020 | Dollars in millions | September 30, 2021 | December 31, 2020 | |||||||||||||||||
COMMON EQUITY TIER 1 | COMMON EQUITY TIER 1 | COMMON EQUITY TIER 1 | ||||||||||||||||||||
Key shareholders’ equity (GAAP) | Key shareholders’ equity (GAAP) | $ | 17,941 | $ | 17,981 | Key shareholders’ equity (GAAP) | $ | 17,510 | $ | 17,981 | ||||||||||||
Less: | Less: | Preferred Stock (a) | 1,856 | 1,856 | Less: | Preferred Stock (a) | 1,856 | 1,856 | ||||||||||||||
Add: | Add: | CECL phase-in (b) | 261 | 375 | Add: | CECL phase-in (b) | 234 | 375 | ||||||||||||||
Common Equity Tier 1 capital before adjustments and deductions | 16,346 | 16,500 | Common Equity Tier 1 capital before adjustments and deductions | 15,888 | 16,500 | |||||||||||||||||
Less: | Less: | Goodwill, net of deferred taxes | 2,560 | 2,560 | Less: | Goodwill, net of deferred taxes | 2,555 | 2,560 | ||||||||||||||
Intangible assets, net of deferred taxes | 126 | 151 | Intangible assets, net of deferred taxes | 141 | 151 | |||||||||||||||||
Deferred tax assets | 1 | 1 | Deferred tax assets | 1 | 1 | |||||||||||||||||
Net unrealized gains (losses) on available-for-sale securities, net of deferred taxes | 223 | 583 | Net unrealized gains (losses) on available-for-sale securities, net of deferred taxes | 77 | 583 | |||||||||||||||||
Accumulated gains (losses) on cash flow hedges, net of deferred taxes | 227 | 460 | Accumulated gains (losses) on cash flow hedges, net of deferred taxes | 169 | 460 | |||||||||||||||||
Amounts in AOCI attributed to pension and postretirement benefit costs, net of deferred taxes | (299) | (306) | Amounts in AOCI attributed to pension and postretirement benefit costs, net of deferred taxes | (291) | (306) | |||||||||||||||||
Total Common Equity Tier 1 capital | $ | 13,508 | $ | 13,051 | Total Common Equity Tier 1 capital | $ | 13,236 | $ | 13,051 | |||||||||||||
TIER 1 CAPITAL | TIER 1 CAPITAL | TIER 1 CAPITAL | ||||||||||||||||||||
Common Equity Tier 1 | Common Equity Tier 1 | $ | 13,508 | $ | 13,051 | Common Equity Tier 1 | $ | 13,236 | $ | 13,051 | ||||||||||||
Additional Tier 1 capital instruments and related surplus | Additional Tier 1 capital instruments and related surplus | 1,856 | 1,856 | Additional Tier 1 capital instruments and related surplus | 1,856 | 1,856 | ||||||||||||||||
Less: | Less: | Deductions | — | — | Less: | Deductions | — | — | ||||||||||||||
Total Tier 1 capital | 15,364 | 14,907 | Total Tier 1 capital | 15,092 | 14,907 | |||||||||||||||||
TIER 2 CAPITAL | TIER 2 CAPITAL | TIER 2 CAPITAL | ||||||||||||||||||||
Tier 2 capital instruments and related surplus | Tier 2 capital instruments and related surplus | 1,539 | 1,657 | Tier 2 capital instruments and related surplus | 1,539 | 1,657 | ||||||||||||||||
Allowance for losses on loans and liability for losses on lending-related commitments (c) | Allowance for losses on loans and liability for losses on lending-related commitments (c) | 1,069 | 1,412 | Allowance for losses on loans and liability for losses on lending-related commitments (c) | 958 | 1,412 | ||||||||||||||||
Less: | Less: | Deductions | — | — | Less: | Deductions | — | — | ||||||||||||||
Total Tier 2 capital | 2,608 | 3,069 | Total Tier 2 capital | 2,497 | 3,069 | |||||||||||||||||
Total risk-based capital | $ | 17,972 | $ | 17,976 | Total risk-based capital | $ | 17,589 | $ | 17,976 | |||||||||||||
RISK-WEIGHTED ASSETS | RISK-WEIGHTED ASSETS | RISK-WEIGHTED ASSETS | ||||||||||||||||||||
Risk-weighted assets on balance sheet | Risk-weighted assets on balance sheet | $ | 102,739 | $ | 103,604 | Risk-weighted assets on balance sheet | $ | 103,111 | $ | 103,604 | ||||||||||||
Risk-weighted off-balance sheet exposure | Risk-weighted off-balance sheet exposure | 31,935 | 29,240 | Risk-weighted off-balance sheet exposure | 33,991 | 29,240 | ||||||||||||||||
Market risk-equivalent assets | Market risk-equivalent assets | 1,570 | 1,354 | Market risk-equivalent assets | 1,305 | 1,354 | ||||||||||||||||
Gross risk-weighted assets | Gross risk-weighted assets | 136,244 | 134,198 | Gross risk-weighted assets | 138,407 | 134,198 | ||||||||||||||||
Less: | Less: | Excess allowance for loan and lease losses | — | — | Less: | Excess allowance for loan and lease losses | — | — | ||||||||||||||
Net risk-weighted assets | $ | 136,244 | $ | 134,198 | Net risk-weighted assets | $ | 138,407 | $ | 134,198 | |||||||||||||
AVERAGE QUARTERLY TOTAL ASSETS | AVERAGE QUARTERLY TOTAL ASSETS | $ | 176,268 | $ | 166,771 | AVERAGE QUARTERLY TOTAL ASSETS | $ | 179,491 | $ | 166,771 | ||||||||||||
CAPITAL RATIOS | CAPITAL RATIOS | CAPITAL RATIOS | ||||||||||||||||||||
Tier 1 risk-based capital | Tier 1 risk-based capital | 11.28 | % | 11.11 | % | Tier 1 risk-based capital | 10.90 | % | 11.11 | % | ||||||||||||
Total risk-based capital | Total risk-based capital | 13.19 | % | 13.40 | % | Total risk-based capital | 12.71 | % | 13.40 | % | ||||||||||||
Leverage (d) | Leverage (d) | 8.72 | % | 8.94 | % | Leverage (d) | 8.41 | % | 8.94 | % | ||||||||||||
Common Equity Tier 1 | Common Equity Tier 1 | 9.91 | % | 9.73 | % | Common Equity Tier 1 | 9.56 | % | 9.73 | % |
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Three months ended June 30, | Three months ended September 30, | Three months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | High | Low | Mean | June 30, | High | Low | Mean | June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | High | Low | Mean | September 30, | High | Low | Mean | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets: | Trading account assets: | Trading account assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed income | Fixed income | $ | 2.7 | $ | 1.0 | $ | 1.8 | $ | 1.1 | $ | 3.3 | $ | 1.9 | $ | 2.7 | $ | 2.1 | Fixed income | $ | 1.4 | $ | .6 | $ | .9 | $ | 1.0 | $ | 3.0 | $ | 1.1 | $ | 2.0 | $ | 2.5 | ||||||||||||||||||||||||
Derivatives: | Derivatives: | Derivatives: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | $ | .2 | $ | .1 | $ | .1 | $ | .1 | $ | .3 | $ | .1 | $ | .2 | $ | .3 | Interest rate | $ | .2 | $ | .1 | $ | .1 | $ | .1 | $ | .9 | $ | .3 | $ | .5 | $ | .3 |
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Three months ended June 30, | Three months ended September 30, | Three months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | High | Low | Mean | June 30, | High | Low | Mean | June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | High | Low | Mean | September 30, | High | Low | Mean | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets: | Trading account assets: | Trading account assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed income | Fixed income | $ | 8.6 | $ | 4.7 | $ | 6.4 | $ | 5.6 | $ | 2.4 | $ | 1.2 | $ | 1.7 | $ | 1.3 | Fixed income | $ | 6.4 | $ | 1.8 | $ | 4.1 | $ | 5.8 | $ | 3.0 | $ | .8 | $ | 1.7 | $ | 2.5 | ||||||||||||||||||||||||
Derivatives: | Derivatives: | Derivatives: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | $ | .6 | $ | .2 | $ | .3 | $ | .6 | $ | .4 | $ | .1 | $ | .1 | $ | .1 | Interest rate | $ | .6 | $ | .3 | $ | .4 | $ | .5 | $ | .7 | $ | .1 | $ | .2 | $ | .4 |
June 30, 2021 | June 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
Basis point change assumption | Basis point change assumption | -200 | +200 | -200 | 200 | Basis point change assumption | -200 | +200 | -200 | +200 | ||||||||||||||||||||||||||||||||||||||||||
Assumed floor in market rates (in basis points) | Assumed floor in market rates (in basis points) | — | % | N/A | 0.25 | % | N/A | Assumed floor in market rates (in basis points) | — | % | N/A | — | % | N/A | ||||||||||||||||||||||||||||||||||||||
Tolerance level | Tolerance level | -5.50 | % | -5.50 | % | -5.50 | % | -5.50 | % | Tolerance level | -5.50 | % | -5.50 | % | -5.50 | % | -5.50 | % | ||||||||||||||||||||||||||||||||||
Interest rate risk assessment | Interest rate risk assessment | -3.66 | % | 4.68 | % | -.39 | % | 6.54 | % | Interest rate risk assessment | -4.06 | % | 5.50 | % | -1.92 | % | 4.49 | % |
June 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted-Average | December 31, 2020 | Weighted-Average | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | Notional Amount | Fair Value | Maturity (Years) | Receive Rate | Pay Rate | Notional Amount | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Notional Amount | Fair Value | Maturity (Years) | Receive Rate | Pay Rate | Notional Amount | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receive fixed/pay variable — conventional A/LM (a) | Receive fixed/pay variable — conventional A/LM (a) | $ | 22,100 | $ | 307 | 2.8 | 1.3 | % | .1 | % | $ | 21,035 | $ | 632 | Receive fixed/pay variable — conventional A/LM (a) | $ | 22,050 | $ | 238 | 2.6 | 1.3 | % | .1 | % | $ | 21,035 | $ | 632 | ||||||||||||||||||||||||||||||||||||
Receive fixed/pay variable — conventional debt | Receive fixed/pay variable — conventional debt | 7,892 | 241 | 3.6 | 1.6 | .1 | 7,787 | 415 | Receive fixed/pay variable — conventional debt | 7,892 | 204 | 3.4 | 1.6 | .1 | 7,787 | 415 | ||||||||||||||||||||||||||||||||||||||||||||||||
Receive fixed/pay variable — forward A/LM | Receive fixed/pay variable — forward A/LM | — | — | — | — | — | — | — | Receive fixed/pay variable — forward A/LM | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Pay fixed/receive variable — conventional debt | Pay fixed/receive variable — conventional debt | 50 | (8) | 7.0 | .2 | 3.6 | 50 | (11) | Pay fixed/receive variable — conventional debt | 50 | (7) | 6.8 | .1 | 3.6 | 50 | (11) | ||||||||||||||||||||||||||||||||||||||||||||||||
Pay fixed/receive variable — forward securities | Pay fixed/receive variable — forward securities | 3,880 | 129 | 10.7 | .6 | 1.0 | 2,080 | 21 | Pay fixed/receive variable — forward securities | 6,280 | 168 | 9.1 | .8 | 1.1 | 2,080 | 21 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total portfolio swaps | Total portfolio swaps | $ | 33,922 | $ | 669 | (c) | 3.9 | 1.3 | % | .2 | % | $ | 30,952 | $ | 1,057 | (c) | Total portfolio swaps | $ | 36,272 | $ | 603 | (c) | 3.9 | 1.3 | % | .3 | % | $ | 30,952 | $ | 1,057 | (c) | ||||||||||||||||||||||||||||||||
Floors — conventional A/LM — purchased (b) | Floors — conventional A/LM — purchased (b) | $ | — | $ | — | — | — | — | $ | 5,000 | 17 | Floors — conventional A/LM — purchased (b) | — | — | — | — | — | $ | 5,000 | $ | 17 | |||||||||||||||||||||||||||||||||||||||||||
Floors — conventional A/LM — sold (b) | Floors — conventional A/LM — sold (b) | — | — | — | — | — | — | — | Floors — conventional A/LM — sold (b) | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Total floors | Total floors | $ | — | $ | — | — | — | — | $ | 5,000 | 17 | Total floors | — | — | — | — | — | $ | 5,000 | $ | 17 |
Short-Term Borrowings | Long-Term Deposits (a) | Senior Long-Term Debt | Subordinated Long-Term Debt | Capital Securities | Preferred Stock | |||||||||||||||
KEYCORP | ||||||||||||||||||||
Standard & Poor’s | A-2 | N/A | BBB+ | BBB | BB+ | BB+ | ||||||||||||||
Moody’s | P-2 | N/A | Baa1 | Baa1 | Baa2 | Baa3 | ||||||||||||||
Fitch Ratings, Inc. | F1 | N/A | A- | BBB+ | BB+ | BB+ | ||||||||||||||
DBRS, Inc. | R-1 (low) | N/A | A | A (low) | A (low) | BBB | ||||||||||||||
KEYBANK | ||||||||||||||||||||
Standard & Poor’s | A-2 | N/A | A- | BBB+ | N/A | N/A | ||||||||||||||
Moody’s | P-2 | P-1/ | A3 | Baa1 | N/A | N/A | ||||||||||||||
Fitch Ratings, Inc. | F1 | F1/A | A- | BBB+ | N/A | N/A | ||||||||||||||
DBRS, Inc. | R-1 (middle) | A (high) | A (high) | A | N/A | N/A |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||
dollars in millions | Amount | Percent of Allowance to Total Allowance | Percent of Loan Type to Total Loans | Amount | Percent of Allowance to Total Allowance | Percent of Loan Type to Total Loans | ||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Amount | Percent of Allowance to Total Allowance | Percent of Loan Type to Total Loans | Amount | Percent of Allowance to Total Allowance | Percent of Loan Type to Total Loans | |||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 499 | 40.9 | % | 50.3 | % | $ | 678 | 41.7 | % | 52.3 | % | Commercial and industrial | $ | 462 | 42.6 | % | 50.3 | % | $ | 678 | 41.7 | % | 52.3 | % | ||||||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | Commercial mortgage | 227 | 18.6 | 12.9 | 327 | 20.1 | 12.5 | Commercial mortgage | 184 | 17.0 | 13.9 | 327 | 20.1 | 12.5 | ||||||||||||||||||||||||||||||||
Construction | Construction | 35 | 2.9 | 2.1 | 47 | 2.9 | 2.0 | Construction | 27 | 2.4 | 2.1 | 47 | 2.9 | 2.0 | ||||||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 262 | 21.5 | 15.0 | 374 | 23.0 | 14.5 | Total commercial real estate loans | 211 | 19.4 | 16.0 | 374 | 23.0 | 14.5 | ||||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 34 | 2.8 | 4.0 | 47 | 2.9 | 4.3 | Commercial lease financing | 32 | 3.0 | 4.0 | 47 | 2.9 | 4.3 | ||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 795 | 65.2 | 69.3 | 1,099 | 67.6 | 71.1 | Total commercial loans | 705 | 65.0 | 70.3 | 1,099 | 67.6 | 71.1 | ||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 86 | 7.0 | 12.0 | 102 | 6.3 | 9.2 | Real estate — residential mortgage | 88 | 8.1 | 14.4 | 102 | 6.3 | 9.2 | ||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 136 | 11.2 | 9.0 | 171 | 10.5 | 9.2 | Home equity loans | 124 | 11.5 | 8.9 | 171 | 10.5 | 9.2 | ||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 115 | 9.4 | 5.0 | 128 | 5.3 | 4.7 | Consumer direct loans | 105 | 9.7 | 5.4 | 128 | 5.3 | 4.7 | ||||||||||||||||||||||||||||||||
Credit cards | Credit cards | 68 | 5.6 | 1.0 | 87 | 7.9 | 1.0 | Credit cards | 59 | 5.4 | 1.0 | 87 | 7.9 | 1.0 | ||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 20 | 1.6 | 3.7 | 39 | 2.4 | 4.8 | Consumer indirect loans | 3 | 0.3 | — | 39 | 2.4 | 4.8 | ||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 425 | 34.8 | 30.7 | 527 | 32.4 | 28.9 | Total consumer loans | 379 | 35.0 | 29.7 | 527 | 32.4 | 28.9 | ||||||||||||||||||||||||||||||||
Total ALLL — continuing operations (a) | Total ALLL — continuing operations (a) | $ | 1,220 | 100.0 | % | 100.0 | % | $ | 1,626 | 100.0 | % | 100.0 | % | Total ALLL — continuing operations (a) | $ | 1,084 | 100.0 | % | 100.0 | % | $ | 1,626 | 100.0 | % | 100.0 | % |
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||
dollars in millions | Second | First | Fourth | Third | Second | |||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Third | Second | First | Fourth | Third | ||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 9 | $ | 65 | $ | 104 | $ | 92 | $ | 66 | Commercial and industrial | $ | 7 | $ | 9 | $ | 65 | $ | 104 | $ | 92 | ||||||||||||||||||
Real estate — Commercial mortgage | Real estate — Commercial mortgage | (2) | 34 | 1 | 11 | 2 | Real estate — Commercial mortgage | (1) | (2) | 34 | 1 | 11 | ||||||||||||||||||||||||||||
Real estate — Construction | Real estate — Construction | — | — | — | — | — | Real estate — Construction | — | — | — | — | — | ||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | — | 3 | 19 | 10 | 3 | Commercial lease financing | (5) | — | 3 | 19 | 10 | ||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 7 | 102 | 124 | 113 | 71 | Total commercial loans | 1 | 7 | 102 | 124 | 113 | ||||||||||||||||||||||||||||
Real estate — Residential mortgage | Real estate — Residential mortgage | 1 | (1) | — | (1) | 2 | Real estate — Residential mortgage | (3) | 1 | (1) | — | (1) | ||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 3 | 1 | — | 1 | 1 | Home equity loans | (1) | 3 | 1 | — | 1 | ||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 5 | 6 | 6 | 6 | 8 | Consumer direct loans | 5 | 5 | 6 | 6 | 6 | ||||||||||||||||||||||||||||
Credit cards | Credit cards | 6 | 4 | 5 | 7 | 10 | Credit cards | 5 | 6 | 4 | 5 | 7 | ||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | — | 2 | — | 2 | 4 | Consumer indirect loans | 22 | — | 2 | — | 2 | ||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 15 | 12 | 11 | 15 | 25 | Total consumer loans | 28 | 15 | 12 | 11 | 15 | ||||||||||||||||||||||||||||
Total net loan charge-offs | Total net loan charge-offs | $ | 22 | $ | 114 | $ | 135 | $ | 128 | $ | 96 | Total net loan charge-offs | $ | 29 | $ | 22 | $ | 114 | $ | 135 | $ | 128 | ||||||||||||||||||
Net loan charge-offs to average loans | Net loan charge-offs to average loans | .09 | % | .46 | % | .53 | % | .49 | % | .36 | % | Net loan charge-offs to average loans | .11 | % | .09 | % | .46 | % | .53 | % | .49 | % | ||||||||||||||||||
Net loan charge-offs from discontinued operations — education lending business | Net loan charge-offs from discontinued operations — education lending business | $ | 1 | — | $ | 1 | — | — | Net loan charge-offs from discontinued operations — education lending business | $ | — | 1 | $ | — | 1 | — |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
dollars in millions | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
Average loans outstanding | Average loans outstanding | $ | 100,814 | $ | 107,941 | $ | 100,777 | $ | 102,058 | Average loans outstanding | $ | 100,138 | $ | 104,919 | $ | 100,562 | $ | 103,018 | ||||||||||||||||
Allowance for loan and lease losses at the end of the prior period | Allowance for loan and lease losses at the end of the prior period | $ | 1,438 | $ | 1,359 | $ | 1,626 | $ | 900 | Allowance for loan and lease losses at the end of the prior period | $ | 1,220 | $ | 1,708 | $ | 1,626 | $ | 900 | ||||||||||||||||
Cumulative effect from change in accounting principle (a) | Cumulative effect from change in accounting principle (a) | — | — | — | 204 | Cumulative effect from change in accounting principle (a) | — | — | — | 204 | ||||||||||||||||||||||||
Allowance for loan and lease losses at beginning of period | Allowance for loan and lease losses at beginning of period | 1,438 | 1,359 | 1,626 | 1,104 | Allowance for loan and lease losses at beginning of period | 1,220 | 1,708 | 1,626 | 1,104 | ||||||||||||||||||||||||
Loans charged off: | Loans charged off: | Loans charged off: | ||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | 41 | 71 | 114 | 131 | Commercial and industrial | 27 | 101 | 141 | 232 | ||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 4 | 2 | 39 | 5 | Real estate — commercial mortgage | — | 13 | 39 | 18 | ||||||||||||||||||||||||
Real estate — construction | Real estate — construction | — | — | — | — | Real estate — construction | — | — | — | — | ||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | — | 4 | 4 | 6 | Commercial lease financing | 1 | 10 | 5 | 16 | ||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 45 | 77 | 157 | 142 | Total commercial loans | 28 | 124 | 185 | 266 | ||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 1 | 2 | 1 | 2 | Real estate — residential mortgage | (2) | — | (1) | 2 | ||||||||||||||||||||||||
Home equity loans | Home equity loans | 4 | 2 | 6 | 6 | Home equity loans | 1 | 4 | 7 | 10 | ||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 7 | 10 | 15 | 22 | Consumer direct loans | 7 | 8 | 22 | 30 | ||||||||||||||||||||||||
Credit cards | Credit cards | 9 | 12 | 15 | 23 | Credit cards | 6 | 9 | 21 | 32 | ||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 5 | 7 | 12 | 16 | Consumer indirect loans | 26 | 6 | 38 | 22 | ||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 26 | 33 | 49 | 69 | Total consumer loans | 38 | 27 | 87 | 96 | ||||||||||||||||||||||||
Total loans charged off | Total loans charged off | 71 | 110 | 206 | 211 | Total loans charged off | 66 | 151 | 272 | 362 | ||||||||||||||||||||||||
Recoveries: | Recoveries: | Recoveries: | ||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | 32 | 5 | 40 | 10 | Commercial and industrial | 20 | 9 | 60 | 19 | ||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 6 | — | 7 | 1 | Real estate — commercial mortgage | 1 | 2 | 8 | 3 | ||||||||||||||||||||||||
Real estate — construction | Real estate — construction | — | — | — | — | Real estate — construction | — | — | — | — | ||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | — | 1 | 1 | 1 | Commercial lease financing | 6 | — | 7 | 1 | ||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 38 | 6 | 48 | 12 | Total commercial loans | 27 | 11 | 75 | 23 | ||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | — | — | 1 | — | Real estate — residential mortgage | 1 | 1 | 2 | 1 | ||||||||||||||||||||||||
Home equity loans | Home equity loans | 1 | 1 | 2 | 3 | Home equity loans | 2 | 3 | 4 | 6 | ||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 2 | 2 | 4 | 4 | Consumer direct loans | 2 | 2 | 6 | 6 | ||||||||||||||||||||||||
Credit cards | Credit cards | 3 | 2 | 5 | 4 | Credit cards | 1 | 2 | 6 | 6 | ||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 5 | 3 | 10 | 8 | Consumer indirect loans | 4 | 4 | 14 | 12 | ||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 11 | 8 | 22 | 19 | Total consumer loans | 10 | 12 | 32 | 31 | ||||||||||||||||||||||||
Total recoveries | Total recoveries | 49 | 14 | 70 | 31 | Total recoveries | 37 | 23 | 107 | 54 | ||||||||||||||||||||||||
Net loan charge-offs | Net loan charge-offs | (22) | (96) | (136) | (180) | Net loan charge-offs | (29) | (128) | (165) | (308) | ||||||||||||||||||||||||
Provision (credit) for loan and lease losses | Provision (credit) for loan and lease losses | (196) | 445 | (270) | 784 | Provision (credit) for loan and lease losses | (107) | 150 | (377) | 934 | ||||||||||||||||||||||||
Allowance for loan and lease losses at end of period | Allowance for loan and lease losses at end of period | $ | 1,220 | $ | 1,708 | $ | 1,220 | $ | 1,708 | Allowance for loan and lease losses at end of period | $ | 1,084 | $ | 1,730 | $ | 1,084 | $ | 1,730 | ||||||||||||||||
Liability for credit losses on lending-related commitments at the end of the prior period | Liability for credit losses on lending-related commitments at the end of the prior period | $ | 178 | $ | 161 | $ | 197 | $ | 68 | Liability for credit losses on lending-related commitments 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 | Liability for credit losses on contingent guarantees at the end of the prior period | — | — | — | 7 | Liability for credit losses on contingent guarantees at the end of the prior period | — | — | — | 7 | ||||||||||||||||||||||||
Cumulative effect from change in accounting principle (a), (b) | Cumulative effect from change in accounting principle (a), (b) | — | — | — | 66 | Cumulative effect from change in accounting principle (a), (b) | — | — | — | 66 | ||||||||||||||||||||||||
Liability for credit losses on off-balance sheet exposures at beginning of period | Liability for credit losses on off-balance sheet exposures at beginning of period | 178 | 161 | 197 | 141 | Liability for credit losses on off-balance sheet exposures at beginning of period | 152 | 198 | 197 | 141 | ||||||||||||||||||||||||
Provision (credit) for losses on off-balance sheet exposures | Provision (credit) for losses on off-balance sheet exposures | (26) | 37 | (45) | 57 | Provision (credit) for losses on off-balance sheet exposures | — | 10 | (45) | 67 | ||||||||||||||||||||||||
Liability for credit losses on off-balance sheet exposures at end of period (c) | Liability for credit losses on off-balance sheet exposures at end of period (c) | $ | 152 | $ | 198 | $ | 152 | $ | 198 | Liability for credit losses on off-balance sheet exposures at end of period (c) | $ | 152 | $ | 208 | $ | 152 | $ | 208 | ||||||||||||||||
Total allowance for credit losses at end of period | Total allowance for credit losses at end of period | $ | 1,372 | $ | 1,906 | $ | 1,372 | $ | 1,906 | Total allowance for credit losses at end of period | $ | 1,236 | $ | 1,938 | $ | 1,236 | $ | 1,938 | ||||||||||||||||
Net loan charge-offs to average total loans | Net loan charge-offs to average total loans | .09 | % | .36 | % | .27 | % | .35 | % | Net loan charge-offs to average total loans | .11 | % | .49 | % | .22 | % | .40 | % | ||||||||||||||||
Allowance for loan and lease losses to period-end loans | Allowance for loan and lease losses to period-end loans | 1.21 | 1.61 | 1.21 | 1.61 | Allowance for loan and lease losses to period-end loans | 1.10 | 1.68 | 1.10 | 1.68 | ||||||||||||||||||||||||
Allowance for credit losses to period-end loans | Allowance for credit losses to period-end loans | 1.36 | 1.80 | 1.36 | 1.80 | Allowance for credit losses to period-end loans | 1.25 | 1.88 | 1.25 | 1.88 | ||||||||||||||||||||||||
Allowance for loan and lease losses to nonperforming loans | Allowance for loan and lease losses to nonperforming loans | 175.8 | 224.7 | 175.8 | 224.7 | Allowance for loan and lease losses to nonperforming loans | 195.7 | 207.4 | 195.7 | 207.4 | ||||||||||||||||||||||||
Allowance for credit losses to nonperforming loans | Allowance for credit losses to nonperforming loans | 197.7 | 250.8 | 197.7 | 250.8 | Allowance for credit losses to nonperforming loans | 223.1 | 232.4 | 223.1 | 232.4 | ||||||||||||||||||||||||
Discontinued operations — education lending business: | Discontinued operations — education lending business: | Discontinued operations — education lending business: | ||||||||||||||||||||||||||||||||
Loans charged off | Loans charged off | $ | 1 | $ | 2 | $ | 2 | $ | 4 | Loans charged off | $ | 1 | $ | — | $ | 3 | $ | 4 | ||||||||||||||||
Recoveries | Recoveries | — | 2 | 1 | 3 | Recoveries | 1 | — | 2 | 3 | ||||||||||||||||||||||||
Net loan charge-offs | Net loan charge-offs | $ | (1) | — | $ | (1) | $ | (1) | Net loan charge-offs | $ | — | — | $ | (1) | $ | (1) |
dollars in millions | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | |||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | ||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 355 | $ | 387 | $ | 385 | $ | 459 | $ | 404 | Commercial and industrial | $ | 253 | $ | 355 | $ | 387 | $ | 385 | $ | 459 | ||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 66 | 66 | 104 | 104 | 91 | Real estate — commercial mortgage | 49 | 66 | 66 | 104 | 104 | ||||||||||||||||||||||
Real estate — construction | Real estate — construction | — | — | — | 1 | 1 | Real estate — construction | — | — | — | — | 1 | ||||||||||||||||||||||
Total commercial real estate loans (a) | Total commercial real estate loans (a) | 66 | 66 | 104 | 105 | 92 | Total commercial real estate loans (a) | 49 | 66 | 66 | 104 | 105 | ||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 7 | 8 | 8 | 6 | 9 | Commercial lease financing | 5 | 7 | 8 | 8 | 6 | ||||||||||||||||||||||
Total commercial loans (b) | Total commercial loans (b) | 428 | 461 | 497 | 570 | 505 | Total commercial loans (b) | 307 | 428 | 461 | 497 | 570 | ||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 99 | 95 | 110 | 96 | 89 | Real estate — residential mortgage | 93 | 99 | 95 | 110 | 96 | ||||||||||||||||||||||
Home equity loans | Home equity loans | 146 | 148 | 154 | 146 | 141 | Home equity loans | 146 | 146 | 148 | 154 | 146 | ||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 4 | 5 | 5 | 3 | 3 | Consumer direct loans | 4 | 4 | 5 | 5 | 3 | ||||||||||||||||||||||
Credit cards | Credit cards | 3 | 3 | 2 | 2 | 2 | Credit cards | 3 | 3 | 3 | 2 | 2 | ||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 14 | 16 | 17 | 17 | 20 | Consumer indirect loans | 1 | 14 | 16 | 17 | 17 | ||||||||||||||||||||||
Total consumer loans | Total consumer loans | 266 | 267 | 288 | 264 | 255 | Total consumer loans | 247 | 266 | 267 | 288 | 264 | ||||||||||||||||||||||
Total nonperforming loans | Total nonperforming loans | 694 | 728 | 785 | 834 | 760 | Total nonperforming loans | 554 | 694 | 728 | 785 | 834 | ||||||||||||||||||||||
OREO | OREO | 9 | 12 | 100 | 105 | 112 | OREO | 8 | 9 | 12 | 100 | 105 | ||||||||||||||||||||||
Nonperforming loans held for sale | Nonperforming loans held for sale | 32 | 47 | 49 | 61 | 75 | Nonperforming loans held for sale | 35 | 32 | 47 | 49 | 61 | ||||||||||||||||||||||
Other nonperforming assets | Other nonperforming assets | 3 | 3 | 3 | 3 | 4 | Other nonperforming assets | 2 | 3 | 3 | 3 | 3 | ||||||||||||||||||||||
Total nonperforming assets | Total nonperforming assets | $ | 738 | $ | 790 | $ | 937 | $ | 1,003 | $ | 951 | Total nonperforming assets | $ | 599 | $ | 738 | $ | 790 | $ | 937 | $ | 1,003 | ||||||||||||
Accruing loans past due 90 days or more | Accruing loans past due 90 days or more | $ | 74 | $ | 92 | $ | 86 | $ | 73 | $ | 87 | Accruing loans past due 90 days or more | $ | 82 | $ | 74 | $ | 92 | $ | 86 | $ | 73 | ||||||||||||
Accruing loans past due 30 through 89 days | Accruing loans past due 30 through 89 days | 190 | 191 | 241 | 336 | 419 | Accruing loans past due 30 through 89 days | 164 | 190 | 191 | 241 | 336 | ||||||||||||||||||||||
Restructured loans — accruing and nonaccruing (c) | Restructured loans — accruing and nonaccruing (c) | 334 | 376 | 363 | 306 | 310 | Restructured loans — accruing and nonaccruing (c) | 270 | 334 | 376 | 363 | 306 | ||||||||||||||||||||||
Restructured loans included in nonperforming loans (c) | Restructured loans included in nonperforming loans (c) | 177 | 192 | 229 | 168 | 166 | Restructured loans included in nonperforming loans (c) | 146 | 177 | 192 | 229 | 168 | ||||||||||||||||||||||
Nonperforming assets from discontinued operations — education lending business | Nonperforming assets from discontinued operations — education lending business | 5 | 5 | 5 | 6 | 7 | Nonperforming assets from discontinued operations — education lending business | 4 | 5 | 5 | 5 | 6 | ||||||||||||||||||||||
Nonperforming loans to period-end portfolio loans | Nonperforming loans to period-end portfolio loans | .69 | % | .72 | % | .78 | % | .81 | % | .72 | % | Nonperforming loans to period-end portfolio loans | .56 | % | .69 | % | .72 | % | .78 | % | .81 | % | ||||||||||||
Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets | Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets | .73 | .78 | .92 | .97 | .89 | Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets | .61 | .73 | .78 | .92 | .97 |
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||
in millions | Second | First | Fourth | Third | Second | |||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Third | Second | First | Fourth | Third | ||||||||||||||||||||||||||||||||||
Balance at beginning of period | Balance at beginning of period | $ | 728 | $ | 785 | $ | 834 | $ | 760 | $ | 632 | Balance at beginning of period | $ | 694 | $ | 728 | $ | 785 | $ | 834 | $ | 760 | ||||||||||||||||||
Loans placed on nonaccrual status | Loans placed on nonaccrual status | 186 | 196 | 300 | 387 | 293 | Loans placed on nonaccrual status | 116 | 186 | 196 | 300 | 387 | ||||||||||||||||||||||||||||
Charge-offs | Charge-offs | (74) | (135) | (160) | (150) | (111) | Charge-offs | (66) | (74) | (135) | (160) | (150) | ||||||||||||||||||||||||||||
Loans sold | Loans sold | (10) | (13) | (9) | (6) | (5) | Loans sold | (17) | (10) | (13) | (9) | (6) | ||||||||||||||||||||||||||||
Payments | Payments | (92) | (37) | (83) | (83) | (29) | Payments | (136) | (92) | (37) | (83) | (83) | ||||||||||||||||||||||||||||
Transfers to OREO | Transfers to OREO | — | (3) | (3) | — | — | Transfers to OREO | (1) | — | (3) | (3) | — | ||||||||||||||||||||||||||||
Loans returned to accrual status | Loans returned to accrual status | (44) | (65) | (94) | (74) | (20) | Loans returned to accrual status | (36) | (44) | (65) | (94) | (74) | ||||||||||||||||||||||||||||
Balance at end of period | Balance at end of period | $ | 694 | $ | 728 | $ | 785 | $ | 834 | $ | 760 | Balance at end of period | $ | 554 | $ | 694 | $ | 728 | $ | 785 | $ | 834 |
Three months ended | Six months ended | Three months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | 6/30/2021 | 3/31/2021 | 12/31/2020 | 9/30/2020 | 6/30/2020 | 6/30/2021 | 6/30/2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 9/30/2021 | 6/30/2021 | 3/31/2021 | 12/31/2020 | 9/30/2020 | 9/30/2021 | 9/30/2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tangible common equity to tangible assets at period-end | Tangible common equity to tangible assets at period-end | Tangible common equity to tangible assets at period-end | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Key shareholders’ equity (GAAP) | Key shareholders’ equity (GAAP) | $ | 17,941 | $ | 17,634 | $ | 17,981 | $ | 17,722 | $ | 17,542 | Key shareholders’ equity (GAAP) | $ | 17,510 | $ | 17,941 | $ | 17,634 | $ | 17,981 | $ | 17,722 | ||||||||||||||||||||||||||||||||||||
Less: | Less: | Intangible assets (a) | 2,828 | 2,842 | 2,848 | 2,862 | 2,877 | Less: | Intangible assets (a) | 2,814 | 2,828 | 2,842 | 2,848 | 2,862 | ||||||||||||||||||||||||||||||||||||||||||||
Preferred Stock (b) | 1,856 | 1,856 | 1,856 | 1,856 | 1,856 | Preferred Stock (b) | 1,856 | 1,856 | 1,856 | 1,856 | 1,856 | |||||||||||||||||||||||||||||||||||||||||||||||
Tangible common equity (non-GAAP) | $ | 13,257 | $ | 12,936 | $ | 13,277 | $ | 13,004 | $ | 12,809 | Tangible common equity (non-GAAP) | $ | 12,840 | $ | 13,257 | $ | 12,936 | $ | 13,277 | $ | 13,004 | |||||||||||||||||||||||||||||||||||||
Total assets (GAAP) | Total assets (GAAP) | $ | 181,115 | $ | 176,203 | $ | 170,336 | $ | 170,540 | $ | 171,192 | Total assets (GAAP) | $ | 187,035 | $ | 181,115 | $ | 176,203 | $ | 170,336 | $ | 170,540 | ||||||||||||||||||||||||||||||||||||
Less: | Less: | Intangible assets (a) | 2,828 | 2,842 | 2,848 | 2,862 | 2,877 | Less: | Intangible assets (a) | 2,814 | 2,828 | 2,842 | 2,848 | 2,862 | ||||||||||||||||||||||||||||||||||||||||||||
Tangible assets (non-GAAP) | $ | 178,287 | $ | 173,361 | $ | 167,488 | $ | 167,678 | $ | 168,315 | Tangible assets (non-GAAP) | $ | 184,221 | $ | 178,287 | $ | 173,361 | $ | 167,488 | $ | 167,678 | |||||||||||||||||||||||||||||||||||||
Tangible common equity to tangible assets ratio (non-GAAP) | 7.4 | % | 7.5 | % | 7.9 | % | 7.8 | % | 7.6 | % | Tangible common equity to tangible assets ratio (non-GAAP) | 6.97 | % | 7.44 | % | 7.46 | % | 7.93 | % | 7.76 | % | |||||||||||||||||||||||||||||||||||||
Average tangible common equity | Average tangible common equity | Average tangible common equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average Key shareholders’ equity (GAAP) | Average Key shareholders’ equity (GAAP) | $ | 17,271 | $ | 17,769 | $ | 17,905 | $ | 17,730 | $ | 17,688 | $ | 17,519 | $ | 17,452 | Average Key shareholders’ equity (GAAP) | $ | 17,899 | $ | 17,859 | $ | 17,769 | $ | 17,905 | $ | 17,730 | $ | 17,843 | $ | 17,545 | ||||||||||||||||||||||||||||
Less: | Less: | Intangible assets (average) (c) | 2,840 | 2,844 | 2,855 | 2,870 | 2,886 | 2,840 | 2,894 | Less: | Intangible assets (average) (c) | 2,823 | 2,840 | 2,844 | 2,855 | 2,870 | 2,834 | 2,886 | ||||||||||||||||||||||||||||||||||||||||
Preferred Stock (average) | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | Preferred Stock (average) | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | |||||||||||||||||||||||||||||||||||||||||||
Average tangible common equity (non-GAAP) | $ | 12,531 | $ | 13,025 | $ | 13,150 | $ | 12,960 | $ | 12,902 | $ | 12,779 | $ | 12,658 | Average tangible common equity (non-GAAP) | $ | 13,176 | $ | 13,119 | $ | 13,025 | $ | 13,150 | $ | 12,960 | $ | 13,109 | $ | 12,759 | |||||||||||||||||||||||||||||
Return on average tangible common equity from continuing operations | Return on average tangible common equity from continuing operations | Return on average tangible common equity from continuing operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) from continuing operations attributable to Key common shareholders (GAAP) | Net income (loss) from continuing operations attributable to Key common shareholders (GAAP) | $ | 698 | $ | 591 | $ | 549 | $ | 397 | $ | 159 | $ | 1,289 | $ | 277 | Net income (loss) from continuing operations attributable to Key common shareholders (GAAP) | $ | 616 | $ | 698 | $ | 591 | $ | 549 | $ | 397 | $ | 1,905 | $ | 674 | ||||||||||||||||||||||||||||
Average tangible common equity (non-GAAP) | Average tangible common equity (non-GAAP) | 12,531 | 13,025 | 13,150 | 12,960 | 12,902 | 12,779 | 12,658 | Average tangible common equity (non-GAAP) | 13,176 | 13,119 | 13,025 | 13,150 | 12,960 | 13,109 | 12,759 | ||||||||||||||||||||||||||||||||||||||||||
Return on average tangible common equity from continuing operations (non-GAAP) | Return on average tangible common equity from continuing operations (non-GAAP) | 22.34 | % | 18.25 | % | 16.61 | % | 12.19 | % | 4.96 | % | 20.34 | % | 4.40 | % | Return on average tangible common equity from continuing operations (non-GAAP) | 18.55 | % | 21.34 | % | 18.25 | % | 16.61 | % | 12.19 | % | 19.43 | % | 7.06 | % | ||||||||||||||||||||||||||||
Return on average tangible common equity consolidated | Return on average tangible common equity consolidated | Return on average tangible common equity consolidated | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders (GAAP) | Net income (loss) attributable to Key common shareholders (GAAP) | $ | 703 | $ | 595 | $ | 556 | $ | 401 | $ | 161 | $ | 1,298 | $ | 280 | Net income (loss) attributable to Key common shareholders (GAAP) | $ | 618 | $ | 703 | $ | 595 | $ | 556 | $ | 401 | $ | 1,916 | $ | 681 | ||||||||||||||||||||||||||||
Average tangible common equity (non-GAAP) | Average tangible common equity (non-GAAP) | 12,531 | 13,025 | 13,150 | 12,960 | 12,902 | 12,779 | 12,658 | Average tangible common equity (non-GAAP) | 13,176 | 13,119 | 13,025 | 13,150 | 12,960 | 13,109 | 12,759 | ||||||||||||||||||||||||||||||||||||||||||
Return on average tangible common equity consolidated (non-GAAP) | Return on average tangible common equity consolidated (non-GAAP) | 22.50 | % | 18.37 | % | 16.82 | % | 12.31 | % | 5.02 | % | 20.48 | % | 4.45 | % | Return on average tangible common equity consolidated (non-GAAP) | 18.61 | % | 21.49 | % | 18.37 | % | 16.82 | % | 12.31 | % | 19.54 | % | 7.13 | % |
Three months ended | Six months ended | Three months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | 6/30/2021 | 3/31/2021 | 12/31/2020 | 9/30/2020 | 6/30/2020 | 6/30/2021 | 6/30/2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 9/30/2021 | 6/30/2021 | 3/31/2021 | 12/31/2020 | 9/30/2020 | 9/30/2021 | 9/30/2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash efficiency ratio | Cash efficiency ratio | Cash efficiency ratio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest expense (GAAP) | Noninterest expense (GAAP) | $ | 1,076 | $ | 1,071 | $ | 1,128 | $ | 1,037 | $ | 1,013 | $ | 2,147 | $ | 1,944 | Noninterest expense (GAAP) | $ | 1,112 | $ | 1,076 | $ | 1,071 | $ | 1,128 | $ | 1,037 | $ | 3,259 | $ | 2,981 | ||||||||||||||||||||||||||||
Less: | Less: | Intangible asset amortization | 14 | 15 | 15 | 15 | 18 | 29 | 35 | Less: | Intangible asset amortization | 15 | 14 | 15 | 15 | 15 | 44 | 50 | ||||||||||||||||||||||||||||||||||||||||
Adjusted noninterest expense (non-GAAP) | Adjusted noninterest expense (non-GAAP) | $ | 1,062 | $ | 1,056 | $ | 1,113 | $ | 1,022 | $ | 995 | $ | 2,118 | $ | 1,909 | Adjusted noninterest expense (non-GAAP) | $ | 1,097 | $ | 1,062 | $ | 1,056 | $ | 1,113 | $ | 1,022 | $ | 3,215 | $ | 2,931 | ||||||||||||||||||||||||||||
Net interest income (GAAP) | Net interest income (GAAP) | $ | 1,017 | $ | 1,005 | $ | 1,035 | $ | 1,000 | $ | 1,018 | $ | 2,022 | $ | 1,999 | Net interest income (GAAP) | $ | 1,016 | $ | 1,017 | $ | 1,005 | $ | 1,035 | $ | 1,000 | $ | 3,038 | $ | 2,999 | ||||||||||||||||||||||||||||
Plus: | Plus: | Taxable-equivalent adjustment | 6 | 7 | 8 | 6 | 7 | 13 | 15 | Plus: | Taxable-equivalent adjustment | 9 | 6 | 7 | 8 | 6 | 22 | 21 | ||||||||||||||||||||||||||||||||||||||||
Noninterest income (GAAP) | 750 | 738 | 802 | 681 | 692 | 1,488 | 1,169 | Noninterest income (GAAP) | 797 | 750 | 738 | 802 | 681 | 2,285 | 1,850 | |||||||||||||||||||||||||||||||||||||||||||
Total taxable-equivalent revenue (non-GAAP) | Total taxable-equivalent revenue (non-GAAP) | $ | 1,773 | $ | 1,750 | $ | 1,845 | $ | 1,687 | $ | 1,717 | $ | 3,523 | $ | 3,183 | Total taxable-equivalent revenue (non-GAAP) | $ | 1,822 | $ | 1,773 | $ | 1,750 | $ | 1,845 | $ | 1,687 | $ | 5,345 | $ | 4,870 | ||||||||||||||||||||||||||||
Cash efficiency ratio (non-GAAP) | Cash efficiency ratio (non-GAAP) | 59.9 | % | 60.3 | % | 60.3 | % | 60.6 | % | 57.9 | % | 60.1 | % | 60.0 | % | Cash efficiency ratio (non-GAAP) | 60.2 | % | 59.9 | % | 60.3 | % | 60.3 | % | 60.6 | % | 60.1 | % | 60.2 | % |
Standard | Required Adoption | Description | Effect on Financial Statements or Other Significant Matters | ||||||||
ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) | January 1, 2022 Early adoption is permitted. | The ASU simplifies the accounting for convertible debt instruments by eliminating the legacy accounting models for convertible instruments with beneficial conversion features or cash conversion features. The guidance also amends the guidance used to determine if a freestanding financial instrument or an embedded feature qualifies for a scope exception from derivative accounting. For freestanding financial instruments and embedded features that have all the characteristics of a derivative instrument and are potentially settled in an entity’s own stock, the guidance simplifies the settlement assessment that entities are required to perform. Also, the Update now requires the use of the if-converted method for all convertible instruments and includes the effect of potential share settlement in diluted EPS if the effect is more dilutive. The new guidance also makes clarifications to the EPS calculation. Further, the ASU expands disclosure requirements. The guidance should be applied on a modified retrospective or retrospective basis. | The adoption of this accounting guidance is not expected to have a material effect on our financial condition or results of operations. | ||||||||
Reference Rate Reform (Topic 848) | December 31, 2022 | London Interbank Offered Rate (LIBOR), a reference rate presumed to capture bank funding costs, is being phased out and will no longer be published. This transition to alternate rates will impact, among other things, contracts that reference LIBOR. This ASU provides relief from cumbersome accounting consequences for certain qualifying contract modifications undertaken as a result of reference rate reform. | Key has established an enterprise-wide program to identify and address all LIBOR related issues and will assess the impacts in conjunction with the reference rate transition as it |
June 30, 2021 | Short- and Long- Term Commercial Total (a) | Foreign Exchange and Derivatives with Collateral (b) | Net Exposure | |||||||||||||||||||
in millions | ||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | Short- and Long- Term Commercial Total (a) | Foreign Exchange and Derivatives with Collateral (b) | Net Exposure | ||||||||||||||||||
Dollars in millions | Dollars in millions | |||||||||||||||||||||
France: | France: | France: | ||||||||||||||||||||
Sovereigns | Sovereigns | — | — | — | Sovereigns | — | — | — | ||||||||||||||
Nonsovereign financial institutions | Nonsovereign financial institutions | — | $ | 1 | $ | 1 | Nonsovereign financial institutions | — | $ | 1 | $ | 1 | ||||||||||
Nonsovereign non-financial institutions | Nonsovereign non-financial institutions | $ | 1 | — | 1 | Nonsovereign non-financial institutions | — | — | — | |||||||||||||
Total | Total | 1 | 1 | 2 | Total | — | 1 | 1 | ||||||||||||||
Germany: | Germany: | Germany: | ||||||||||||||||||||
Sovereigns | Sovereigns | — | — | — | Sovereigns | — | — | — | ||||||||||||||
Nonsovereign financial institutions | Nonsovereign financial institutions | — | — | — | Nonsovereign financial institutions | — | — | — | ||||||||||||||
Nonsovereign non-financial institutions | Nonsovereign non-financial institutions | 33 | — | 33 | Nonsovereign non-financial institutions | $ | 35 | — | 35 | |||||||||||||
Total | Total | 33 | — | 33 | Total | 35 | — | 35 | ||||||||||||||
Italy: | Italy: | Italy: | ||||||||||||||||||||
Sovereigns | Sovereigns | — | — | — | Sovereigns | — | — | — | ||||||||||||||
Nonsovereign financial institutions | Nonsovereign financial institutions | — | — | — | Nonsovereign financial institutions | — | — | — | ||||||||||||||
Nonsovereign non-financial institutions | Nonsovereign non-financial institutions | 17 | — | 17 | Nonsovereign non-financial institutions | 17 | — | 17 | ||||||||||||||
Total | Total | 17 | — | 17 | Total | 17 | — | 17 | ||||||||||||||
United Kingdom: | United Kingdom: | United Kingdom: | ||||||||||||||||||||
Sovereigns | Sovereigns | — | — | — | Sovereigns | — | — | — | ||||||||||||||
Nonsovereign financial institutions | Nonsovereign financial institutions | — | 249 | 249 | Nonsovereign financial institutions | — | 336 | 336 | ||||||||||||||
Nonsovereign non-financial institutions | Nonsovereign non-financial institutions | — | — | — | Nonsovereign non-financial institutions | — | — | — | ||||||||||||||
Total | Total | — | 249 | 249 | Total | — | 336 | 336 | ||||||||||||||
Total Europe: | Total Europe: | Total Europe: | ||||||||||||||||||||
Sovereigns | Sovereigns | — | — | — | Sovereigns | — | — | — | ||||||||||||||
Nonsovereign financial institutions | Nonsovereign financial institutions | — | 250 | 250 | Nonsovereign financial institutions | — | 337 | 337 | ||||||||||||||
Nonsovereign non-financial institutions | Nonsovereign non-financial institutions | 51 | — | 51 | Nonsovereign non-financial institutions | 52 | — | 52 | ||||||||||||||
Total | Total | $ | 51 | $ | 250 | $ | 301 | Total | $ | 52 | $ | 337 | $ | 389 |
in millions, except per share data | June 30, 2021 | December 31, 2020 | ||||||||||||||
Dollars in millions, except per share data | Dollars in millions, except per share data | September 30, 2021 | December 31, 2020 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||
Cash and due from banks | Cash and due from banks | $ | 792 | $ | 1,091 | Cash and due from banks | $ | 763 | $ | 1,091 | ||||||
Short-term investments | Short-term investments | 20,460 | 16,194 | Short-term investments | 19,608 | 16,194 | ||||||||||
Trading account assets | Trading account assets | 851 | 735 | Trading account assets | 902 | 735 | ||||||||||
Securities available for sale | Securities available for sale | 34,638 | 27,556 | Securities available for sale | 40,594 | 27,556 | ||||||||||
Held-to-maturity securities (fair value: $6,474 and $8,023) | 6,175 | 7,595 | ||||||||||||||
Held-to-maturity securities (fair value: $8,664 and $8,023) | Held-to-maturity securities (fair value: $8,664 and $8,023) | 8,423 | 7,595 | |||||||||||||
Other investments | Other investments | 635 | 621 | Other investments | 607 | 621 | ||||||||||
Loans, net of unearned income of $386 and $449 | 100,730 | 101,185 | ||||||||||||||
Loans, net of unearned income of $361 and $449 | Loans, net of unearned income of $361 and $449 | 98,609 | 101,185 | |||||||||||||
Less: Allowance for loan and lease losses | Less: Allowance for loan and lease losses | (1,220) | (1,626) | Less: Allowance for loan and lease losses | (1,084) | (1,626) | ||||||||||
Net loans | Net loans | 99,510 | 99,559 | Net loans | 97,525 | 99,559 | ||||||||||
Loans held for sale (a) | Loans held for sale (a) | 1,537 | 1,583 | Loans held for sale (a) | 1,805 | 1,583 | ||||||||||
Premises and equipment | Premises and equipment | 785 | 753 | Premises and equipment | 678 | 753 | ||||||||||
Goodwill | Goodwill | 2,673 | 2,664 | Goodwill | 2,673 | 2,664 | ||||||||||
Other intangible assets | Other intangible assets | 159 | 188 | Other intangible assets | 144 | 188 | ||||||||||
Corporate-owned life insurance | Corporate-owned life insurance | 4,304 | 4,286 | Corporate-owned life insurance | 4,312 | 4,286 | ||||||||||
Accrued income and other assets | Accrued income and other assets | 7,966 | 6,812 | Accrued income and other assets | 8,404 | 6,812�� | ||||||||||
Discontinued assets | Discontinued assets | 630 | 699 | Discontinued assets | 597 | 699 | ||||||||||
Total assets | Total assets | $ | 181,115 | $ | 170,336 | Total assets | $ | 187,035 | $ | 170,336 | ||||||
LIABILITIES | LIABILITIES | LIABILITIES | ||||||||||||||
Deposits in domestic offices: | Deposits in domestic offices: | Deposits in domestic offices: | ||||||||||||||
NOW and money market deposit accounts | NOW and money market deposit accounts | $ | 85,242 | $ | 80,427 | NOW and money market deposit accounts | $ | 87,242 | $ | 80,427 | ||||||
Savings deposits | Savings deposits | 6,993 | 5,913 | Savings deposits | 7,259 | 5,913 | ||||||||||
Certificates of deposit ($100,000 or more) | Certificates of deposit ($100,000 or more) | 2,064 | 2,733 | Certificates of deposit ($100,000 or more) | 1,890 | 2,733 | ||||||||||
Other time deposits | Other time deposits | 2,493 | 3,010 | Other time deposits | 2,315 | 3,010 | ||||||||||
Total interest-bearing deposits | Total interest-bearing deposits | 96,792 | 92,083 | Total interest-bearing deposits | 98,706 | 92,083 | ||||||||||
Noninterest-bearing deposits | Noninterest-bearing deposits | 49,280 | 43,199 | Noninterest-bearing deposits | 53,225 | 43,199 | ||||||||||
Total deposits | Total deposits | 146,072 | 135,282 | Total deposits | 151,931 | 135,282 | ||||||||||
Federal funds purchased and securities sold under repurchase agreements | Federal funds purchased and securities sold under repurchase agreements | 211 | 220 | Federal funds purchased and securities sold under repurchase agreements | 228 | 220 | ||||||||||
Bank notes and other short-term borrowings | Bank notes and other short-term borrowings | 723 | 759 | Bank notes and other short-term borrowings | 767 | 759 | ||||||||||
Accrued expense and other liabilities | Accrued expense and other liabilities | 2,957 | 2,385 | Accrued expense and other liabilities | 3,434 | 2,385 | ||||||||||
Long-term debt | Long-term debt | 13,211 | 13,709 | Long-term debt | 13,165 | 13,709 | ||||||||||
Total liabilities | Total liabilities | 163,174 | 152,355 | Total liabilities | 169,525 | 152,355 | ||||||||||
EQUITY | EQUITY | EQUITY | ||||||||||||||
Preferred stock | Preferred stock | 1,900 | 1,900 | Preferred stock | 1,900 | 1,900 | ||||||||||
Common Shares, $1 par value; authorized 2,100,000,000 and 2,100,000,000 shares; issued 1,256,702,081 and 1,256,702,081 shares | Common Shares, $1 par value; authorized 2,100,000,000 and 2,100,000,000 shares; issued 1,256,702,081 and 1,256,702,081 shares | 1,257 | 1,257 | Common Shares, $1 par value; authorized 2,100,000,000 and 2,100,000,000 shares; issued 1,256,702,081 and 1,256,702,081 shares | 1,257 | 1,257 | ||||||||||
Capital surplus | Capital surplus | 6,232 | 6,281 | Capital surplus | 6,141 | 6,281 | ||||||||||
Retained earnings | Retained earnings | 13,689 | 12,751 | Retained earnings | 14,133 | 12,751 | ||||||||||
Treasury stock, at cost (296,426,197 and 280,928,782 shares) | (5,287) | (4,946) | ||||||||||||||
Treasury stock, at cost (326,158,458 and 280,928,782 shares) | Treasury stock, at cost (326,158,458 and 280,928,782 shares) | (5,876) | (4,946) | |||||||||||||
Accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss) | 150 | 738 | Accumulated other comprehensive income (loss) | (45) | 738 | ||||||||||
Key shareholders’ equity | 17,941 | 17,981 | ||||||||||||||
Noncontrolling interests | 0 | 0 | ||||||||||||||
Total equity | Total equity | 17,941 | 17,981 | Total equity | 17,510 | 17,981 | ||||||||||
Total liabilities and equity | Total liabilities and equity | $ | 181,115 | $ | 170,336 | Total liabilities and equity | $ | 187,035 | $ | 170,336 |
dollars in millions, except per share amounts | Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||
Dollars in millions, except per share amounts | Dollars in millions, except per share amounts | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
(Unaudited) | (Unaudited) | 2021 | 2020 | 2021 | 2020 | (Unaudited) | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||
INTEREST INCOME | INTEREST INCOME | INTEREST INCOME | ||||||||||||||||||||||||||||||||
Loans | Loans | $ | 888 | $ | 980 | $ | 1,777 | $ | 2,006 | Loans | $ | 882 | $ | 927 | $ | 2,659 | $ | 2,933 | ||||||||||||||||
Loans held for sale | Loans held for sale | 11 | 21 | 22 | 40 | Loans held for sale | 13 | 18 | 35 | 58 | ||||||||||||||||||||||||
Securities available for sale | Securities available for sale | 133 | 121 | 263 | 250 | Securities available for sale | 135 | 115 | 398 | 365 | ||||||||||||||||||||||||
Held-to-maturity securities | Held-to-maturity securities | 45 | 56 | 90 | 118 | Held-to-maturity securities | 43 | 53 | 133 | 171 | ||||||||||||||||||||||||
Trading account assets | Trading account assets | 5 | 5 | 10 | 13 | Trading account assets | 4 | 3 | 14 | 16 | ||||||||||||||||||||||||
Short-term investments | Short-term investments | 6 | 7 | 11 | 13 | Short-term investments | 9 | 1 | 20 | 14 | ||||||||||||||||||||||||
Other investments | Other investments | 2 | 0 | 4 | 1 | Other investments | 1 | 2 | 5 | 3 | ||||||||||||||||||||||||
Total interest income | Total interest income | 1,090 | 1,190 | 2,177 | 2,441 | Total interest income | 1,087 | 1,119 | 3,264 | 3,560 | ||||||||||||||||||||||||
INTEREST EXPENSE | INTEREST EXPENSE | INTEREST EXPENSE | ||||||||||||||||||||||||||||||||
Deposits | Deposits | 16 | 96 | 37 | 265 | Deposits | 15 | 54 | 52 | 319 | ||||||||||||||||||||||||
Federal funds purchased and securities sold under repurchase agreements | Federal funds purchased and securities sold under repurchase agreements | 0 | 0 | 0 | 6 | Federal funds purchased and securities sold under repurchase agreements | — | — | — | 6 | ||||||||||||||||||||||||
Bank notes and other short-term borrowings | Bank notes and other short-term borrowings | 3 | 5 | 4 | 10 | Bank notes and other short-term borrowings | 2 | 1 | 6 | 11 | ||||||||||||||||||||||||
Long-term debt | Long-term debt | 54 | 71 | 114 | 161 | Long-term debt | 54 | 64 | 168 | 225 | ||||||||||||||||||||||||
Total interest expense | Total interest expense | 73 | 172 | 155 | 442 | Total interest expense | 71 | 119 | 226 | 561 | ||||||||||||||||||||||||
NET INTEREST INCOME | NET INTEREST INCOME | 1,017 | 1,018 | 2,022 | 1,999 | NET INTEREST INCOME | 1,016 | 1,000 | 3,038 | 2,999 | ||||||||||||||||||||||||
Provision for credit losses | Provision for credit losses | (222) | 482 | (315) | 841 | Provision for credit losses | (107) | 160 | (422) | 1,001 | ||||||||||||||||||||||||
Net interest income after provision for credit losses | Net interest income after provision for credit losses | 1,239 | 536 | 2,337 | 1,158 | Net interest income after provision for credit losses | 1,123 | 840 | 3,460 | 1,998 | ||||||||||||||||||||||||
NONINTEREST INCOME | NONINTEREST INCOME | NONINTEREST INCOME | ||||||||||||||||||||||||||||||||
Trust and investment services income | Trust and investment services income | 133 | 123 | 266 | 256 | Trust and investment services income | 129 | 128 | 395 | 384 | ||||||||||||||||||||||||
Investment banking and debt placement fees | Investment banking and debt placement fees | 217 | 156 | 379 | 272 | Investment banking and debt placement fees | 235 | 146 | 614 | 418 | ||||||||||||||||||||||||
Service charges on deposit accounts | Service charges on deposit accounts | 83 | 68 | 156 | 152 | Service charges on deposit accounts | 91 | 77 | 247 | 229 | ||||||||||||||||||||||||
Operating lease income and other leasing gains | Operating lease income and other leasing gains | 36 | 60 | 74 | 90 | Operating lease income and other leasing gains | 37 | 38 | 111 | 128 | ||||||||||||||||||||||||
Corporate services income | Corporate services income | 55 | 52 | 119 | 114 | Corporate services income | 69 | 51 | 188 | 165 | ||||||||||||||||||||||||
Cards and payments income | Cards and payments income | 113 | 91 | 218 | 157 | Cards and payments income | 111 | 114 | 329 | 271 | ||||||||||||||||||||||||
Corporate-owned life insurance income | Corporate-owned life insurance income | 30 | 35 | 61 | 71 | Corporate-owned life insurance income | 33 | 30 | 94 | 101 | ||||||||||||||||||||||||
Consumer mortgage income | Consumer mortgage income | 26 | 62 | 73 | 82 | Consumer mortgage income | 33 | 51 | 106 | 133 | ||||||||||||||||||||||||
Commercial mortgage servicing fees | Commercial mortgage servicing fees | 44 | 12 | 78 | 30 | Commercial mortgage servicing fees | 34 | 18 | 112 | 48 | ||||||||||||||||||||||||
Other income (a) | Other income (a) | 13 | 33 | 64 | (55) | Other income (a) | 25 | 28 | 89 | (27) | ||||||||||||||||||||||||
Total noninterest income | Total noninterest income | 750 | 692 | 1,488 | 1,169 | Total noninterest income | 797 | 681 | 2,285 | 1,850 | ||||||||||||||||||||||||
NONINTEREST EXPENSE | NONINTEREST EXPENSE | NONINTEREST EXPENSE | ||||||||||||||||||||||||||||||||
Personnel | Personnel | 623 | 572 | 1,247 | 1,087 | Personnel | 640 | 588 | 1,887 | 1,675 | ||||||||||||||||||||||||
Net occupancy | Net occupancy | 75 | 71 | 151 | 147 | Net occupancy | 74 | 76 | 225 | 223 | ||||||||||||||||||||||||
Computer processing | Computer processing | 71 | 56 | 144 | 111 | Computer processing | 67 | 59 | 211 | 170 | ||||||||||||||||||||||||
Business services and professional fees | Business services and professional fees | 51 | 49 | 101 | 93 | Business services and professional fees | 56 | 49 | 157 | 142 | ||||||||||||||||||||||||
Equipment | Equipment | 25 | 25 | 50 | 49 | Equipment | 25 | 25 | 75 | 74 | ||||||||||||||||||||||||
Operating lease expense | Operating lease expense | 31 | 34 | 65 | 70 | Operating lease expense | 30 | 33 | 95 | 103 | ||||||||||||||||||||||||
Marketing | Marketing | 31 | 24 | 57 | 45 | Marketing | 32 | 22 | 89 | 67 | ||||||||||||||||||||||||
Intangible asset amortization | Intangible asset amortization | 14 | 18 | 29 | 35 | Intangible asset amortization | 15 | 15 | 44 | 50 | ||||||||||||||||||||||||
Other expense | Other expense | 155 | 164 | 303 | 307 | Other expense | 173 | 170 | 476 | 477 | ||||||||||||||||||||||||
Total noninterest expense | Total noninterest expense | 1,076 | 1,013 | 2,147 | 1,944 | Total noninterest expense | 1,112 | 1,037 | 3,259 | 2,981 | ||||||||||||||||||||||||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 913 | 215 | 1,678 | 383 | INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 808 | 484 | 2,486 | 867 | ||||||||||||||||||||||||
Income taxes | Income taxes | 189 | 30 | 336 | 53 | Income taxes | 165 | 60 | 501 | 113 | ||||||||||||||||||||||||
INCOME (LOSS) FROM CONTINUING OPERATIONS | INCOME (LOSS) FROM CONTINUING OPERATIONS | 724 | 185 | 1,342 | 330 | INCOME (LOSS) FROM CONTINUING OPERATIONS | 643 | 424 | 1,985 | 754 | ||||||||||||||||||||||||
Income (loss) from discontinued operations | Income (loss) from discontinued operations | 5 | 2 | 9 | 3 | Income (loss) from discontinued operations | 2 | 4 | 11 | 7 | ||||||||||||||||||||||||
NET INCOME (LOSS) | NET INCOME (LOSS) | 729 | 187 | 1,351 | 333 | NET INCOME (LOSS) | 645 | 428 | 1,996 | 761 | ||||||||||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interests | Less: Net income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | Less: Net income (loss) attributable to noncontrolling interests | — | — | — | — | ||||||||||||||||||||||||
NET INCOME (LOSS) ATTRIBUTABLE TO KEY | NET INCOME (LOSS) ATTRIBUTABLE TO KEY | $ | 729 | $ | 187 | $ | 1,351 | $ | 333 | NET INCOME (LOSS) ATTRIBUTABLE TO KEY | $ | 645 | $ | 428 | $ | 1,996 | $ | 761 | ||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | Income (loss) from continuing operations attributable to Key common shareholders | $ | 698 | $ | 159 | $ | 1,289 | $ | 277 | Income (loss) from continuing operations attributable to Key common shareholders | $ | 616 | $ | 397 | $ | 1,905 | $ | 674 | ||||||||||||||||
Net income (loss) attributable to Key common shareholders | Net income (loss) attributable to Key common shareholders | 703 | 161 | 1,298 | 280 | Net income (loss) attributable to Key common shareholders | 618 | 401 | 1,916 | 681 | ||||||||||||||||||||||||
Per Common Share: | Per Common Share: | Per Common Share: | ||||||||||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | Income (loss) from continuing operations attributable to Key common shareholders | $ | .73 | $ | .16 | $ | 1.34 | $ | .29 | Income (loss) from continuing operations attributable to Key common shareholders | $ | .65 | $ | .41 | $ | 1.99 | $ | .70 | ||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 0 | 0 | .01 | 0 | Income (loss) from discontinued operations, net of taxes | — | — | .01 | .01 | ||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders (b) | Net income (loss) attributable to Key common shareholders (b) | .73 | .17 | 1.35 | .29 | Net income (loss) attributable to Key common shareholders (b) | .66 | .41 | 2.00 | .70 | ||||||||||||||||||||||||
Per Common Share — assuming dilution: | Per Common Share — assuming dilution: | Per Common Share — assuming dilution: | ||||||||||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | Income (loss) from continuing operations attributable to Key common shareholders | $ | .72 | $ | .16 | $ | 1.33 | $ | .28 | Income (loss) from continuing operations attributable to Key common shareholders | $ | .65 | $ | .41 | $ | 1.98 | $ | .69 | ||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 0 | 0 | .01 | 0 | Income (loss) from discontinued operations, net of taxes | — | — | .01 | .01 | ||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders (b) | Net income (loss) attributable to Key common shareholders (b) | .73 | .17 | 1.34 | .29 | Net income (loss) attributable to Key common shareholders (b) | .65 | .41 | 1.99 | .70 | ||||||||||||||||||||||||
Cash dividends declared per Common Share | Cash dividends declared per Common Share | $ | .185 | $ | .185 | $ | .370 | $ | .370 | Cash dividends declared per Common Share | $ | .185 | $ | .185 | $ | .555 | $ | .555 | ||||||||||||||||
Weighted-average Common Shares outstanding (000) | Weighted-average Common Shares outstanding (000) | 957,423 | 967,147 | 961,292 | 967,380 | Weighted-average Common Shares outstanding (000) | 942,446 | 967,804 | 955,069 | 967,632 | ||||||||||||||||||||||||
Effect of Common Share options and other stock awards | Effect of Common Share options and other stock awards | 9,740 | 4,994 | 9,514 | 6,892 | Effect of Common Share options and other stock awards | 10,077 | 6,184 | 9,712 | 6,648 | ||||||||||||||||||||||||
Weighted-average Common Shares and potential Common Shares outstanding (000) (c) | Weighted-average Common Shares and potential Common Shares outstanding (000) (c) | 967,163 | 972,141 | 970,806 | 974,272 | Weighted-average Common Shares and potential Common Shares outstanding (000) (c) | 952,523 | 973,988 | 964,781 | 974,280 |
in millions | Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
(Unaudited) | (Unaudited) | 2021 | 2020 | 2021 | 2020 | (Unaudited) | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||
Net income (loss) | Net income (loss) | $ | 729 | $ | 187 | $ | 1,351 | $ | 333 | Net income (loss) | $ | 645 | $ | 428 | $ | 1,996 | $ | 761 | ||||||||||||||||
Other comprehensive income (loss), net of tax: | Other comprehensive income (loss), net of tax: | Other comprehensive income (loss), net of tax: | ||||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities available for sale, net of income taxes of $(59), $40, $139, and $166 | 185 | 130 | (443) | 535 | ||||||||||||||||||||||||||||||
Net unrealized gains (losses) on derivative financial instruments, net of income taxes of $45, $(5), $48, and $112 | (141) | (14) | (151) | 363 | ||||||||||||||||||||||||||||||
Foreign currency translation adjustments, net of income taxes of $0, $0, $0, and $0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
Net pension and postretirement benefit costs, net of income taxes of $(1), $2, $(2), and $4 | 3 | 6 | 6 | 12 | ||||||||||||||||||||||||||||||
Net unrealized gains (losses) on securities available for sale, net of income taxes of $56, $(3), $195, and $163 | Net unrealized gains (losses) on securities available for sale, net of income taxes of $56, $(3), $195, and $163 | (174) | (8) | (617) | 527 | |||||||||||||||||||||||||||||
Net unrealized gains (losses) on derivative financial instruments, net of income taxes of $9, $(19), $57, and $93 | Net unrealized gains (losses) on derivative financial instruments, net of income taxes of $9, $(19), $57, and $93 | (29) | (64) | (180) | 299 | |||||||||||||||||||||||||||||
Net pension and postretirement benefit costs, net of income taxes of $(3), $1, $(5), and $5 | Net pension and postretirement benefit costs, net of income taxes of $(3), $1, $(5), and $5 | 8 | 3 | 14 | 15 | |||||||||||||||||||||||||||||
Total other comprehensive income (loss), net of tax | Total other comprehensive income (loss), net of tax | 47 | 122 | (588) | 910 | Total other comprehensive income (loss), net of tax | (195) | (69) | (783) | 841 | ||||||||||||||||||||||||
Comprehensive income (loss) | Comprehensive income (loss) | 776 | 309 | 763 | 1,243 | Comprehensive income (loss) | 450 | 359 | 1,213 | 1,602 | ||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | Less: Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | Less: Comprehensive income attributable to noncontrolling interests | — | — | — | — | ||||||||||||||||||||||||
Comprehensive income (loss) attributable to Key | Comprehensive income (loss) attributable to Key | $ | 776 | $ | 309 | $ | 763 | $ | 1,243 | Comprehensive income (loss) attributable to Key | $ | 450 | $ | 359 | $ | 1,213 | $ | 1,602 |
Key Shareholders’ Equity | Key Shareholders’ Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions, except per share amounts (Unaudited) | Preferred Shares Outstanding (000) | Common Shares Outstanding (000) | Preferred Stock | Common Shares | Capital Surplus | Retained Earnings | Treasury Stock, at Cost | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions, except per share amounts (Unaudited) | Dollars in millions, except per share amounts (Unaudited) | Preferred Shares Outstanding (000) | Common Shares Outstanding (000) | Preferred Stock | Common Shares | Capital Surplus | Retained Earnings | Treasury Stock, at Cost | Accumulated Other Comprehensive Income (Loss) | Total Shareholder’s Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT DECEMBER 31, 2020 | BALANCE AT DECEMBER 31, 2020 | 1,396 | 975,773 | $ | 1,900 | $ | 1,257 | $ | 6,281 | $ | 12,751 | $ | (4,946) | $ | 738 | 0 | BALANCE AT DECEMBER 31, 2020 | 1,396 | 975,773 | $ | 1,900 | $ | 1,257 | $ | 6,281 | $ | 12,751 | $ | (4,946) | $ | 738 | $ | 17,981 | ||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | 1,351 | 0 | Net income (loss) | 1,996 | 1,996 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | Other comprehensive income (loss) | (588) | Other comprehensive income (loss) | (783) | (783) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation | Deferred compensation | 0 | Deferred compensation | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash dividends declared | Cash dividends declared | Cash dividends declared | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares ($.370 per share) | (360) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series D Preferred Stock ($25.00 per depositary share) | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock ($.765626 per depositary share) | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series F Preferred Stock ($.706250 per depositary share) | (12) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series G Preferred Stock ($.703126 per depositary share) | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares ($.555 per share) | Common Shares ($.555 per share) | (534) | (534) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series D Preferred Stock ($37.50 per depositary share) | Series D Preferred Stock ($37.50 per depositary share) | (20) | (20) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock ($1.148439 per depositary share) | Series E Preferred Stock ($1.148439 per depositary share) | (23) | (23) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series F Preferred Stock ($1.059375 per depositary share) | Series F Preferred Stock ($1.059375 per depositary share) | (18) | (18) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series G Preferred Stock ($1.054689 per depositary share) | Series G Preferred Stock ($1.054689 per depositary share) | (19) | (19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Open market Common Share repurchases | Open market Common Share repurchases | (20,979) | (435) | Open market Common Share repurchases | (27,346) | (559) | (559) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee equity compensation program Common Share repurchases | Employee equity compensation program Common Share repurchases | (1,602) | 0 | (32) | Employee equity compensation program Common Share repurchases | (1,604) | — | (32) | (32) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares reissued (returned) for stock options and other employee benefit plans | 7,084 | (49) | 126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net contribution from (distribution to) noncontrolling interests | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares reissued (returned) for stock options and other employee benefit plans | Common shares reissued (returned) for stock options and other employee benefit plans | 7,274 | (28) | 129 | 101 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share purchases under ASR program | Common share purchases under ASR program | (23,553) | (117) | (468) | (585) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT SEPTEMBER 30, 2021 | BALANCE AT SEPTEMBER 30, 2021 | 1,396 | 930,544 | $ | 1,900 | $ | 1,257 | $ | 6,141 | $ | 14,133 | $ | (5,876) | $ | (45) | $ | 17,510 | ||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT JUNE 30, 2021 | BALANCE AT JUNE 30, 2021 | 1,396 | 960,276 | $ | 1,900 | $ | 1,257 | $ | 6,232 | $ | 13,689 | $ | (5,287) | $ | 150 | $ | 0 | BALANCE AT JUNE 30, 2021 | 1,396 | 960,276 | $ | 1,900 | $ | 1,257 | $ | 6,232 | $ | 13,689 | $ | (5,287) | $ | 150 | $ | 17,941 | |||||||||||||||||||||||||||
BALANCE AT MARCH 31, 2021 | 1,396 | 972,587 | $ | 1,900 | $ | 1,257 | $ | 6,213 | $ | 13,166 | $ | (5,005) | $ | 103 | $ | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | 729 | 0 | Net income (loss) | 645 | 645 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | Other comprehensive income (loss) | 47 | Other comprehensive income (loss) | (195) | (195) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation | Deferred compensation | 3 | Deferred compensation | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash dividends declared | Cash dividends declared | Cash dividends declared | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares ($.185 per share) | Common Shares ($.185 per share) | (179) | Common Shares ($.185 per share) | (176) | (176) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series D Preferred Stock ($12.50 per depositary share) | Series D Preferred Stock ($12.50 per depositary share) | (6) | Series D Preferred Stock ($12.50 per depositary share) | (6) | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock ($.382813 per depositary share) | Series E Preferred Stock ($.382813 per depositary share) | (8) | Series E Preferred Stock ($.382813 per depositary share) | (7) | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series F Preferred Stock ($.353125 per depositary share) | Series F Preferred Stock ($.353125 per depositary share) | (6) | Series F Preferred Stock ($.353125 per depositary share) | (7) | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series G Preferred Stock ($.351563 per depositary share) | Series G Preferred Stock ($.351563 per depositary share) | (7) | Series G Preferred Stock ($.351563 per depositary share) | (5) | (5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Open market Common Share repurchases | Open market Common Share repurchases | (13,278) | (299) | Open market Common Share repurchases | (6,367) | (125) | (125) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee equity compensation program Common Share repurchases | Employee equity compensation program Common Share repurchases | (26) | 0 | (1) | Employee equity compensation program Common Share repurchases | (3) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares reissued (returned) for stock options and other employee benefit plans | 993 | 16 | 18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net contribution from (distribution to) noncontrolling interests | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT JUNE 30, 2021 | 1,396 | 960,276 | $ | 1,900 | $ | 1,257 | $ | 6,232 | $ | 13,689 | $ | (5,287) | $ | 150 | $ | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Common shares reissued (returned) for stock options and other employee benefit plans | Common shares reissued (returned) for stock options and other employee benefit plans | 191 | 21 | 4 | 25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common share purchases under ASR program | Common share purchases under ASR program | (23,553) | (117) | (468) | (585) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT SEPTEMBER 30, 2021 | BALANCE AT SEPTEMBER 30, 2021 | 1,396 | 930,544 | $ | 1,900 | $ | 1,257 | $ | 6,141 | $ | 14,133 | $ | (5,876) | $ | (45) | $ | 17,510 |
Key Shareholders’ Equity | Key Shareholders’ Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions, except per share amounts (Unaudited) | Preferred Shares Outstanding (000) | Common Shares Outstanding (000) | Preferred Stock | Common Shares | Capital Surplus | Retained Earnings | Treasury Stock, at Cost | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions, except per share amounts (Unaudited) | Dollars in millions, except per share amounts (Unaudited) | Preferred Shares Outstanding (000) | Common Shares Outstanding (000) | Preferred Stock | Common Shares | Capital Surplus | Retained Earnings | Treasury Stock, at Cost | Accumulated Other Comprehensive Income (Loss) | Total Shareholder’s Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT DECEMBER 31, 2019 | BALANCE AT DECEMBER 31, 2019 | 1,396 | 977,189 | $ | 1,900 | $ | 1,257 | $ | 6,295 | $ | 12,469 | $ | (4,909) | $ | 26 | $ | 0 | BALANCE AT DECEMBER 31, 2019 | 1,396 | 977,189 | $ | 1,900 | $ | 1,257 | $ | 6,295 | $ | 12,469 | $ | (4,909) | $ | 26 | $ | 17,038 | |||||||||||||||||||||||||||
Cumulative effect from changes in accounting principle (a) | Cumulative effect from changes in accounting principle (a) | (230) | Cumulative effect from changes in accounting principle (a) | (230) | (230) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | 333 | Net income (loss) | 761 | 761 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | Other comprehensive income (loss) | 910 | Other comprehensive income (loss) | 841 | 841 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation | Deferred compensation | 0 | Deferred compensation | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash dividends declared | Cash dividends declared | Cash dividends declared | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares ($.370 per share) | (362) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series D Preferred Stock ($25.00 per depositary share) | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock ($.765626 per depositary share) | (15) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series F Preferred Stock ($.706250 per depositary share) | (12) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series G Preferred Stock ($.703126 per depositary share) | (13) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares ($.555 per share) | Common Shares ($.555 per share) | (542) | (542) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series D Preferred Stock ($37.50 per depositary share) | Series D Preferred Stock ($37.50 per depositary share) | (20) | (20) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock ($1.148439 per depositary share) | Series E Preferred Stock ($1.148439 per depositary share) | (23) | (23) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series F Preferred Stock ($1.059375 per depositary share) | Series F Preferred Stock ($1.059375 per depositary share) | (18) | (18) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series G Preferred Stock ($1.054689 per depositary share) | Series G Preferred Stock ($1.054689 per depositary share) | (19) | (19) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Open market Common Share repurchases | Open market Common Share repurchases | (6,067) | (117) | Open market Common Share repurchases | (6,067) | (117) | (117) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee equity compensation program Common Share repurchases | Employee equity compensation program Common Share repurchases | (1,814) | (55) | (36) | Employee equity compensation program Common Share repurchases | (1,815) | (34) | (36) | (70) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares reissued (returned) for stock options and other employee benefit plans | Common shares reissued (returned) for stock options and other employee benefit plans | 6,639 | 0 | 117 | Common shares reissued (returned) for stock options and other employee benefit plans | 6,898 | 122 | 122 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net contribution from (distribution to) noncontrolling interests | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | (3) | Other | (3) | (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT SEPTEMBER 30, 2020 | BALANCE AT SEPTEMBER 30, 2020 | 1,396 | 976,205 | $ | 1,900 | $ | 1,257 | $ | 6,263 | $ | 12,375 | $ | (4,940) | $ | 867 | $ | 17,722 | ||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT JUNE 30, 2020 | BALANCE AT JUNE 30, 2020 | 1,396 | 975,947 | $ | 1,900 | $ | 1,257 | $ | 6,240 | $ | 12,154 | $ | (4,945) | $ | 936 | $ | 0 | BALANCE AT JUNE 30, 2020 | 1,396 | 975,947 | $ | 1,900 | $ | 1,257 | $ | 6,240 | $ | 12,154 | $ | (4,945) | $ | 936 | $ | 17,542 | |||||||||||||||||||||||||||
BALANCE AT MARCH 31, 2020 | 1,396 | 975,319 | $ | 1,900 | $ | 1,257 | $ | 6,222 | $ | 12,174 | $ | (4,956) | $ | 814 | $ | 0 | |||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | 187 | — | Net income (loss) | 428 | 428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | Other comprehensive income (loss) | 122 | Other comprehensive income (loss) | (69) | (69) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred compensation | Deferred compensation | 1 | Deferred compensation | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash dividends declared | Cash dividends declared | Cash dividends declared | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Shares ($.185 per share) | Common Shares ($.185 per share) | (181) | Common Shares ($.185 per share) | (180) | (180) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series D Preferred Stock ($12.50 per depositary share) | Series D Preferred Stock ($12.50 per depositary share) | (6) | Series D Preferred Stock ($12.50 per depositary share) | (7) | (7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock ($.382813 per depositary share) | Series E Preferred Stock ($.382813 per depositary share) | (7) | Series E Preferred Stock ($.382813 per depositary share) | (8) | (8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series F Preferred Stock ($.353125 per depositary share) | Series F Preferred Stock ($.353125 per depositary share) | (6) | Series F Preferred Stock ($.353125 per depositary share) | (6) | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series G Preferred Stock ($.53125 per depositary share) | Series G Preferred Stock ($.53125 per depositary share) | (7) | Series G Preferred Stock ($.53125 per depositary share) | (6) | (6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Open market Common Share repurchases | Open market Common Share repurchases | 0 | 0 | Open market Common Share repurchases | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee equity compensation program Common Share repurchases | Employee equity compensation program Common Share repurchases | (19) | 17 | (1) | Employee equity compensation program Common Share repurchases | (1) | 21 | — | 21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares reissued (returned) for stock options and other employee benefit plans | Common shares reissued (returned) for stock options and other employee benefit plans | 647 | 0 | 12 | Common shares reissued (returned) for stock options and other employee benefit plans | 259 | — | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net contribution from (distribution to) noncontrolling interests | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT JUNE 30, 2020 | 1,396 | 975,947 | $ | 1,900 | $ | 1,257 | $ | 6,240 | $ | 12,154 | $ | (4,945) | $ | 936 | $ | 0 | |||||||||||||||||||||||||||||||||||||||||||||
BALANCE AT SEPTEMBER 30, 2020 | BALANCE AT SEPTEMBER 30, 2020 | 1,396 | 976,205 | $ | 1,900 | $ | 1,257 | $ | 6,263 | $ | 12,375 | $ | (4,940) | $ | 867 | $ | 17,722 |
in millions | Six months ended June 30, | |||||||||||||||||||||
Dollars in millions | Dollars in millions | Nine months ended September 30, | ||||||||||||||||||||
(Unaudited) | (Unaudited) | 2021 | 2020 | (Unaudited) | 2021 | 2020 | ||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||
Net income (loss) | Net income (loss) | $ | 1,351 | $ | 333 | Net income (loss) | $ | 1,996 | $ | 761 | ||||||||||||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||||||||||
Provision for credit losses | Provision for credit losses | (315) | 841 | Provision for credit losses | (422) | 1,001 | ||||||||||||||||
Depreciation and amortization expense, net | Depreciation and amortization expense, net | 21 | 86 | Depreciation and amortization expense, net | 80 | 112 | ||||||||||||||||
Accretion of acquired loans | Accretion of acquired loans | 13 | 18 | Accretion of acquired loans | 19 | 23 | ||||||||||||||||
Increase in cash surrender value of corporate-owned life insurance | Increase in cash surrender value of corporate-owned life insurance | (54) | (58) | Increase in cash surrender value of corporate-owned life insurance | (82) | (86) | ||||||||||||||||
Stock-based compensation expense | Stock-based compensation expense | 52 | 51 | Stock-based compensation expense | 78 | 75 | ||||||||||||||||
Deferred income taxes (benefit) | Deferred income taxes (benefit) | 196 | (148) | Deferred income taxes (benefit) | 126 | (217) | ||||||||||||||||
Proceeds from sales of loans held for sale | Proceeds from sales of loans held for sale | 7,629 | 6,437 | Proceeds from sales of loans held for sale | 11,282 | 10,079 | ||||||||||||||||
Originations of loans held for sale, net of repayments | Originations of loans held for sale, net of repayments | (7,494) | (6,816) | Originations of loans held for sale, net of repayments | (10,818) | (10,040) | ||||||||||||||||
Net losses (gains) on sales of loans held for sale | Net losses (gains) on sales of loans held for sale | (120) | (109) | Net losses (gains) on sales of loans held for sale | (192) | (169) | ||||||||||||||||
Net losses (gains) on leased equipment | Net losses (gains) on leased equipment | (6) | (16) | Net losses (gains) on leased equipment | (9) | (17) | ||||||||||||||||
Net securities losses (gains) | Net securities losses (gains) | 0 | (4) | Net securities losses (gains) | — | (4) | ||||||||||||||||
Net losses (gains) on sales of fixed assets | Net losses (gains) on sales of fixed assets | 7 | 3 | Net losses (gains) on sales of fixed assets | 13 | 3 | ||||||||||||||||
Net decrease (increase) in trading account assets | Net decrease (increase) in trading account assets | (116) | 395 | Net decrease (increase) in trading account assets | (167) | 307 | ||||||||||||||||
Net transfers of loans held for sale | Net transfers of loans held for sale | 26 | 0 | Net transfers of loans held for sale | 26 | — | ||||||||||||||||
Other operating activities, net | Other operating activities, net | (942) | (908) | Other operating activities, net | (767) | (1,101) | ||||||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 248 | 105 | NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 1,163 | 727 | ||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||
Cash received (used) in acquisitions, net of cash acquired | Cash received (used) in acquisitions, net of cash acquired | (9) | 0 | Cash received (used) in acquisitions, net of cash acquired | (9) | — | ||||||||||||||||
Net decrease (increase) in short-term investments, excluding acquisitions | Net decrease (increase) in short-term investments, excluding acquisitions | (4,266) | (12,764) | Net decrease (increase) in short-term investments, excluding acquisitions | (3,414) | (12,876) | ||||||||||||||||
Purchases of securities available for sale | Purchases of securities available for sale | (11,978) | (4,567) | Purchases of securities available for sale | (19,726) | (9,582) | ||||||||||||||||
Proceeds from sales of securities available for sale | Proceeds from sales of securities available for sale | 0 | 583 | Proceeds from sales of securities available for sale | — | 583 | ||||||||||||||||
Proceeds from prepayments and maturities of securities available for sale | Proceeds from prepayments and maturities of securities available for sale | 4,286 | 2,933 | Proceeds from prepayments and maturities of securities available for sale | 5,824 | 4,642 | ||||||||||||||||
Proceeds from prepayments and maturities of held-to-maturity securities | Proceeds from prepayments and maturities of held-to-maturity securities | 1,427 | 998 | Proceeds from prepayments and maturities of held-to-maturity securities | 2,004 | 1,702 | ||||||||||||||||
Purchases of held-to-maturity securities | Purchases of held-to-maturity securities | (3) | (5) | Purchases of held-to-maturity securities | (3) | (17) | ||||||||||||||||
Purchases of other investments | Purchases of other investments | (19) | (96) | Purchases of other investments | (26) | (110) | ||||||||||||||||
Proceeds from sales of other investments | Proceeds from sales of other investments | 26 | 26 | Proceeds from sales of other investments | 36 | 79 | ||||||||||||||||
Proceeds from prepayments and maturities of other investments | Proceeds from prepayments and maturities of other investments | 6 | 11 | Proceeds from prepayments and maturities of other investments | 8 | 13 | ||||||||||||||||
Net decrease (increase) in loans, excluding acquisitions, sales and transfers | Net decrease (increase) in loans, excluding acquisitions, sales and transfers | 575 | (11,967) | Net decrease (increase) in loans, excluding acquisitions, sales and transfers | (545) | (9,118) | ||||||||||||||||
Proceeds from sales of portfolio loans | Proceeds from sales of portfolio loans | (163) | 91 | Proceeds from sales of portfolio loans | (243) | 140 | ||||||||||||||||
Proceeds from corporate-owned life insurance | Proceeds from corporate-owned life insurance | 36 | 40 | Proceeds from corporate-owned life insurance | 56 | 46 | ||||||||||||||||
Purchases of premises, equipment, and software | Purchases of premises, equipment, and software | (32) | (27) | Purchases of premises, equipment, and software | (31) | (45) | ||||||||||||||||
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (10,114) | (24,744) | NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (16,069) | (24,543) | ||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||
Net increase (decrease) in deposits, excluding acquisitions | Net increase (decrease) in deposits, excluding acquisitions | 10,790 | 23,643 | Net increase (decrease) in deposits, excluding acquisitions | 16,649 | 24,876 | ||||||||||||||||
Net increase (decrease) in short-term borrowings | Net increase (decrease) in short-term borrowings | (45) | 891 | Net increase (decrease) in short-term borrowings | 16 | (61) | ||||||||||||||||
Net proceeds from issuance of long-term debt | Net proceeds from issuance of long-term debt | 1,200 | 2,501 | Net proceeds from issuance of long-term debt | 1,203 | 2,502 | ||||||||||||||||
Payments on long-term debt | Payments on long-term debt | (1,518) | (1,507) | Payments on long-term debt | (1,521) | (2,509) | ||||||||||||||||
Open market Common Share repurchases | (435) | (117) | ||||||||||||||||||||
Open market common share repurchases | Open market common share repurchases | (559) | (117) | |||||||||||||||||||
Employee equity compensation program Common Share repurchases | Employee equity compensation program Common Share repurchases | (32) | (36) | Employee equity compensation program Common Share repurchases | (32) | (36) | ||||||||||||||||
Common share purchases under ASR program | Common share purchases under ASR program | (585) | — | |||||||||||||||||||
Net proceeds from reissuance of Common Shares | Net proceeds from reissuance of Common Shares | 20 | 6 | Net proceeds from reissuance of Common Shares | 21 | 7 | ||||||||||||||||
Cash dividends paid | Cash dividends paid | (413) | (415) | Cash dividends paid | (614) | (622) | ||||||||||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 9,567 | 24,966 | NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 14,578 | 24,040 | ||||||||||||||||
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS | NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS | (299) | 327 | NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS | (328) | 224 | ||||||||||||||||
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD | CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD | 1,091 | 732 | CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD | 1,091 | 732 | ||||||||||||||||
CASH AND DUE FROM BANKS AT END OF PERIOD | CASH AND DUE FROM BANKS AT END OF PERIOD | $ | 792 | $ | 1,059 | CASH AND DUE FROM BANKS AT END OF PERIOD | $ | 763 | $ | 956 | ||||||||||||
Additional disclosures relative to cash flows: | Additional disclosures relative to cash flows: | Additional disclosures relative to cash flows: | ||||||||||||||||||||
Interest paid | Interest paid | $ | 200 | $ | 465 | Interest paid | $ | 254 | $ | 601 | ||||||||||||
Income taxes paid (refunded) | Income taxes paid (refunded) | 191 | 59 | Income taxes paid (refunded) | 212 | 175 | ||||||||||||||||
Noncash items: | Noncash items: | Noncash items: | ||||||||||||||||||||
Reduction of secured borrowing and related collateral | Reduction of secured borrowing and related collateral | $ | 2 | $ | 3 | Reduction of secured borrowing and related collateral | $ | 7 | $ | 5 | ||||||||||||
Loans transferred to portfolio from held for sale | Loans transferred to portfolio from held for sale | 86 | 25 | Loans transferred to portfolio from held for sale | 86 | 32 | ||||||||||||||||
Loans transferred to held for sale from portfolio | Loans transferred to held for sale from portfolio | 97 | 210 | Loans transferred to held for sale from portfolio | 3,403 | 292 | ||||||||||||||||
Loans transferred to OREO | Loans transferred to OREO | 2 | 93 | Loans transferred to OREO | 3 | 94 | ||||||||||||||||
CMBS risk retentions | CMBS risk retentions | 0 | 27 | CMBS risk retentions | — | 41 | ||||||||||||||||
ABS risk retentions | ABS risk retentions | 14 | 9 | ABS risk retentions | 13 | 22 | ||||||||||||||||
Securities received as consideration | Securities received as consideration | 2,825 | — |
Standard | Required Adoption | Description | Effect on Financial Statements or Other Significant Matters | ||||||||
ASU 2019-12, Simplifying the Accounting for Income Taxes | January 1, 2021 | This ASU simplifies the accounting for income taxes by removing certain exceptions to the existing guidance, such as exceptions related to the incremental approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss, and the recognition of deferred tax liabilities when a foreign subsidiary becomes an equity method investment and when a foreign equity method investment becomes a subsidiary. Along with general improvements, it adds simplifications related to franchise taxes, the tax basis of goodwill, and the method for recognizing an enacted change in tax laws. The guidance also specifies that an entity is not required to allocate the consolidated amount of certain tax expense to a legal entity not subject to tax in its own separate financial statements. The guidance should be applied on either a retrospective, modified retrospective, or prospective basis depending on the amendment. | The adoption of this accounting guidance did not have a material effect on our financial condition or results of operations. | ||||||||
ASU 2020-01, Clarifying the Interactions between Topic 321,Investments —Equity Securities; Topic 323, Investments— Equity Method and Joint Ventures; and Topic 815, Derivatives and Hedging | January 1, 2021 | This guidance clarifies that when applying the measurement alternative in Topic 321, companies should consider certain observable transactions that require the application or discontinuance of the equity method under Topic 323. It also clarifies that companies should not consider whether the underlying securities in certain forward contracts and purchased options would be accounted for under the equity method or fair value option when determining the method of accounting for those contracts. This guidance should be applied on prospective basis. | The adoption of this accounting guidance did not have a material effect on our financial condition or results of operations. | ||||||||
ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs | January 1, 2021 | This ASU clarifies that at each reporting period an entity should reevaluate whether a callable debt security is within the scope of ASC 310, which says that to the extent the amortized cost basis of an individual callable debt security exceeds the amount repayable by the issuer at the earliest call date, the premium shall be amortized to the earliest call date, unless prepayment guidance is applied. This guidance should be applied on a prospective basis. | The adoption of this accounting guidance did not have a material effect on our financial condition or results of operations. | ||||||||
ASU 2021-01, Reference Rate Reform (Topic 848) | January 1, 2021 | The ASU clarifies that certain optional expedients and exceptions related to contracts modified as a result of reference rate reform and hedge accounting apply to derivatives affected by the discounting transition, such as those that use an interest rate for margining, discounting, or contract price alignment. The guidance may be applied on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020. Alternatively, it may be applied on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final Update, until the financial statements are available to be issued. | Key adopted this guidance on January 1, 2021, on a prospective basis and will assess the impact in conjunction with the reference rate |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
dollars in millions, except per share amounts | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Dollars in millions, except per share amounts | Dollars in millions, except per share amounts | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
EARNINGS | EARNINGS | EARNINGS | ||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | Income (loss) from continuing operations | $ | 724 | $ | 185 | $ | 1,342 | $ | 330 | Income (loss) from continuing operations | $ | 643 | $ | 424 | $ | 1,985 | $ | 754 | ||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interests | Less: Net income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | Less: Net income (loss) attributable to noncontrolling interests | — | — | — | — | ||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key | Income (loss) from continuing operations attributable to Key | 724 | 185 | 1,342 | 330 | Income (loss) from continuing operations attributable to Key | 643 | 424 | 1,985 | 754 | ||||||||||||||||||||||||
Less: Dividends on Preferred Stock | Less: Dividends on Preferred Stock | 26 | 26 | 53 | 53 | Less: Dividends on Preferred Stock | 27 | 27 | 80 | 80 | ||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | Income (loss) from continuing operations attributable to Key common shareholders | 698 | 159 | 1,289 | 277 | Income (loss) from continuing operations attributable to Key common shareholders | 616 | 397 | 1,905 | 674 | ||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 5 | 2 | 9 | 3 | Income (loss) from discontinued operations, net of taxes | 2 | 4 | 11 | 7 | ||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders | Net income (loss) attributable to Key common shareholders | $ | 703 | $ | 161 | $ | 1,298 | $ | 280 | Net income (loss) attributable to Key common shareholders | $ | 618 | $ | 401 | $ | 1,916 | $ | 681 | ||||||||||||||||
WEIGHTED-AVERAGE COMMON SHARES | WEIGHTED-AVERAGE COMMON SHARES | WEIGHTED-AVERAGE COMMON SHARES | ||||||||||||||||||||||||||||||||
Weighted-average Common Shares outstanding (000) | Weighted-average Common Shares outstanding (000) | 957,423 | 967,147 | 961,292 | 967,380 | Weighted-average Common Shares outstanding (000) | 942,446 | 967,804 | 955,069 | 967,632 | ||||||||||||||||||||||||
Effect of Common Share options and other stock awards | Effect of Common Share options and other stock awards | 9,740 | 4,994 | 9,514 | 6,892 | Effect of Common Share options and other stock awards | 10,077 | 6,184 | 9,712 | 6,648 | ||||||||||||||||||||||||
Weighted-average Common Shares and potential Common Shares outstanding (000) (a) | Weighted-average Common Shares and potential Common Shares outstanding (000) (a) | 967,163 | 972,141 | 970,806 | 974,272 | Weighted-average Common Shares and potential Common Shares outstanding (000) (a) | 952,523 | 973,988 | 964,781 | 974,280 | ||||||||||||||||||||||||
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE | ||||||||||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | Income (loss) from continuing operations attributable to Key common shareholders | $ | .73 | $ | .16 | $ | 1.34 | $ | .29 | Income (loss) from continuing operations attributable to Key common shareholders | $ | .65 | $ | .41 | $ | 1.99 | $ | .70 | ||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 0 | 0 | .01 | 0 | Income (loss) from discontinued operations, net of taxes | — | — | .01 | .01 | ||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders (b) | Net income (loss) attributable to Key common shareholders (b) | .73 | .17 | 1.35 | .29 | Net income (loss) attributable to Key common shareholders (b) | .66 | .41 | 2.00 | .70 | ||||||||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution | Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution | $ | .72 | $ | .16 | $ | 1.33 | $ | .28 | Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution | $ | .65 | $ | .41 | $ | 1.98 | $ | .69 | ||||||||||||||||
Income (loss) from discontinued operations, net of taxes — assuming dilution | Income (loss) from discontinued operations, net of taxes — assuming dilution | 0 | 0 | .01 | 0 | Income (loss) from discontinued operations, net of taxes — assuming dilution | — | — | .01 | .01 | ||||||||||||||||||||||||
Net income (loss) attributable to Key common shareholders — assuming dilution (b) | Net income (loss) attributable to Key common shareholders — assuming dilution (b) | .73 | .17 | 1.34 | .29 | Net income (loss) attributable to Key common shareholders — assuming dilution (b) | .65 | .41 | 1.99 | .70 |
in millions | June 30, 2021 | December 31, 2020 | ||||||||||||||
Dollars in millions | Dollars in millions | September 30, 2021 | December 31, 2020 | |||||||||||||
Commercial and industrial (b) | Commercial and industrial (b) | $ | 50,672 | $ | 52,907 | Commercial and industrial (b) | $ | 49,553 | $ | 52,907 | ||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||
Commercial mortgage | Commercial mortgage | 12,965 | 12,687 | Commercial mortgage | 13,674 | 12,687 | ||||||||||
Construction | Construction | 2,132 | 1,987 | Construction | 2,120 | 1,987 | ||||||||||
Total commercial real estate loans | Total commercial real estate loans | 15,097 | 14,674 | Total commercial real estate loans | 15,794 | 14,674 | ||||||||||
Commercial lease financing (c) | Commercial lease financing (c) | 4,061 | 4,399 | Commercial lease financing (c) | 3,982 | 4,399 | ||||||||||
Total commercial loans | Total commercial loans | 69,830 | 71,980 | Total commercial loans | 69,329 | 71,980 | ||||||||||
Residential — prime loans: | Residential — prime loans: | Residential — prime loans: | ||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 12,131 | 9,298 | Real estate — residential mortgage | 14,204 | 9,298 | ||||||||||
Home equity loans | Home equity loans | 9,047 | 9,360 | Home equity loans | 8,747 | 9,360 | ||||||||||
Total residential — prime loans | Total residential — prime loans | 21,178 | 18,658 | Total residential — prime loans | 22,951 | 18,658 | ||||||||||
Consumer direct loans | Consumer direct loans | 5,049 | 4,714 | Consumer direct loans | 5,324 | 4,714 | ||||||||||
Credit cards | Credit cards | 923 | 989 | Credit cards | 928 | 989 | ||||||||||
Consumer indirect loans | Consumer indirect loans | 3,750 | 4,844 | Consumer indirect loans | 77 | 4,844 | ||||||||||
Total consumer loans | Total consumer loans | 30,900 | 29,205 | Total consumer loans | 29,280 | 29,205 | ||||||||||
Total loans (d) | Total loans (d) | $ | 100,730 | $ | 101,185 | Total loans (d) | $ | 98,609 | $ | 101,185 |
in millions | March 31, 2021 | Provision | Charge-offs | Recoveries | June 30, 2021 | |||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | June 30, 2021 | Provision | Charge-offs | Recoveries | September 30, 2021 | ||||||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | $ | 596 | $ | (88) | $ | (41) | $ | 32 | $ | 499 | Commercial and Industrial | $ | 499 | $ | (30) | $ | (27) | $ | 20 | $ | 462 | ||||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 256 | (31) | (4) | 6 | 227 | Real estate — commercial mortgage | 227 | (44) | — | 1 | 184 | ||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | 45 | (10) | 0 | 0 | 35 | Real estate — construction | 35 | (8) | — | — | 27 | ||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 301 | (41) | (4) | 6 | 262 | Total commercial real estate loans | 262 | (52) | — | 1 | 211 | ||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 40 | (6) | 0 | 0 | 34 | Commercial lease financing | 34 | (7) | (1) | 6 | 32 | ||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 937 | (135) | (45) | 38 | 795 | Total commercial loans | 795 | (89) | (28) | 27 | 705 | ||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 100 | (13) | (1) | 0 | 86 | Real estate — residential mortgage | 86 | (1) | 2 | 1 | 88 | ||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 157 | (18) | (4) | 1 | 136 | Home equity loans | 136 | (13) | (1) | 2 | 124 | ||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 126 | (6) | (7) | 2 | 115 | Consumer direct loans | 115 | (5) | (7) | 2 | 105 | ||||||||||||||||||||||||||||
Credit cards | Credit cards | 80 | (6) | (9) | 3 | 68 | Credit cards | 68 | (4) | (6) | 1 | 59 | ||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 38 | (18) | (5) | 5 | 20 | Consumer indirect loans | 20 | 5 | (26) | 4 | 3 | ||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 501 | (61) | (26) | 11 | 425 | Total consumer loans | 425 | (18) | (38) | 10 | 379 | ||||||||||||||||||||||||||||
Total ALLL — continuing operations | Total ALLL — continuing operations | 1,438 | (196) | (a) | (71) | 49 | 1,220 | Total ALLL — continuing operations | 1,220 | (107) | (66) | 37 | 1,084 | |||||||||||||||||||||||||||
Discontinued operations | Discontinued operations | 33 | (2) | (1) | 0 | 30 | Discontinued operations | 30 | (1) | (1) | 1 | 29 | ||||||||||||||||||||||||||||
Total ALLL — including discontinued operations | Total ALLL — including discontinued operations | $ | 1,471 | $ | (198) | $ | (72) | $ | 49 | $ | 1,250 | Total ALLL — including discontinued operations | $ | 1,250 | $ | (108) | $ | (67) | $ | 38 | $ | 1,113 |
in millions | March 31, 2020 | Provision | Charge-offs | Recoveries | June 30, 2020 | |||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | June 30, 2020 | Provision | Charge-offs | Recoveries | September 30, 2020 | ||||||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | $ | 542 | $ | 249 | $ | (71) | $ | 5 | $ | 725 | Commercial and Industrial | $ | 725 | $ | 177 | $ | (101) | $ | 9 | $ | 810 | ||||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 207 | 87 | (2) | 0 | 292 | Real estate — commercial mortgage | 292 | (2) | (13) | 2 | 279 | ||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | 25 | 16 | 0 | 0 | 41 | Real estate — construction | 41 | (7) | — | — | 34 | ||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 232 | 103 | (2) | 0 | 333 | Total commercial real estate loans | 333 | (9) | (13) | 2 | 313 | ||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 44 | 14 | (4) | 1 | 55 | Commercial lease financing | 55 | 13 | (10) | — | 58 | ||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 818 | 366 | (77) | 6 | 1,113 | Total commercial loans | 1,113 | 181 | (124) | 11 | 1,181 | ||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 89 | 14 | (2) | 0 | 101 | Real estate — residential mortgage | 101 | 2 | — | 1 | 104 | ||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 184 | 14 | (2) | 1 | 197 | Home equity loans | 197 | (13) | (4) | 3 | 183 | ||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 116 | 22 | (10) | 2 | 130 | Consumer direct loans | 130 | 1 | (8) | 2 | 125 | ||||||||||||||||||||||||||||
Credit cards | Credit cards | 104 | 13 | (12) | 2 | 107 | Credit cards | 107 | (5) | (9) | 2 | 95 | ||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 48 | 16 | (7) | 3 | 60 | Consumer indirect loans | 60 | (16) | (6) | 4 | 42 | ||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 541 | 79 | (33) | 8 | 595 | Total consumer loans | 595 | (31) | (27) | 12 | 549 | ||||||||||||||||||||||||||||
Total ALLL — continuing operations | Total ALLL — continuing operations | 1,359 | 445 | (a) | (110) | 14 | 1,708 | Total ALLL — continuing operations | 1,708 | 150 | (a) | (151) | 23 | 1,730 | ||||||||||||||||||||||||||
Discontinued operations | Discontinued operations | 43 | 0 | (2) | 2 | 43 | Discontinued operations | 43 | (1) | — | — | 42 | ||||||||||||||||||||||||||||
Total ALLL — including discontinued operations | Total ALLL — including discontinued operations | $ | 1,402 | $ | 445 | $ | (112) | $ | 16 | $ | 1,751 | Total ALLL — including discontinued operations | $ | 1,751 | $ | 149 | $ | (151) | $ | 23 | $ | 1,772 |
in millions | December 31, 2020 | Provision | Charge-offs | Recoveries | June 30, 2021 | |||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | December 31, 2020 | Provision | Charge-offs | Recoveries | September 30, 2021 | ||||||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | $ | 678 | $ | (105) | $ | (114) | $ | 40 | $ | 499 | Commercial and Industrial | $ | 678 | $ | (135) | $ | (141) | $ | 60 | $ | 462 | ||||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 327 | (68) | (39) | 7 | 227 | Real estate — commercial mortgage | 327 | (112) | (39) | 8 | 184 | ||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | 47 | (12) | 0 | 0 | 35 | Real estate — construction | 47 | (20) | — | — | 27 | ||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 374 | (80) | 0 | 0 | 262 | Total commercial real estate loans | 374 | (132) | — | — | 211 | ||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 47 | (10) | (4) | 1 | 34 | Commercial lease financing | 47 | (17) | (5) | 7 | 32 | ||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 1,099 | (195) | (157) | 48 | 795 | Total commercial loans | 1,099 | (284) | (185) | 75 | 705 | ||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 102 | (16) | (1) | 1 | 86 | Real estate — residential mortgage | 102 | (17) | 1 | 2 | 88 | ||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 171 | (31) | (6) | 2 | 136 | Home equity loans | 171 | (44) | (7) | 4 | 124 | ||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 128 | (2) | (15) | 4 | 115 | Consumer direct loans | 128 | (7) | (22) | 6 | 105 | ||||||||||||||||||||||||||||
Credit cards | Credit cards | 87 | (9) | (15) | 5 | 68 | Credit cards | 87 | (13) | (21) | 6 | 59 | ||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 39 | (17) | (12) | 10 | 20 | Consumer indirect loans | 39 | (12) | (38) | 14 | 3 | ||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 527 | (75) | (49) | 22 | 425 | Total consumer loans | 527 | (93) | (87) | 32 | 379 | ||||||||||||||||||||||||||||
Total ALLL — continuing operations | Total ALLL — continuing operations | 1,626 | (270) | (a) | (206) | 70 | 1,220 | Total ALLL — continuing operations | 1,626 | (377) | (a) | (272) | 107 | 1,084 | ||||||||||||||||||||||||||
Discontinued operations | Discontinued operations | 36 | (5) | (2) | 1 | 30 | Discontinued operations | 36 | (6) | (3) | 2 | 29 | ||||||||||||||||||||||||||||
Total ALLL — including discontinued operations | Total ALLL — including discontinued operations | $ | 1,662 | $ | (275) | $ | (208) | $ | 71 | $ | 1,250 | Total ALLL — including discontinued operations | $ | 1,662 | $ | (383) | $ | (275) | $ | 109 | $ | 1,113 |
in millions | Pre-ASC 326 Adoption December 31, 2019 | Impact of ASC 326 Adoption | January 1, 2020 | Provision | Charge-offs | Recoveries | June 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | December 31, 2019 | Impact of ASC 326 Adoption | January 1, 2020 | Provision | Charge-offs | Recoveries | September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | $ | 551 | $ | (141) | $ | 410 | $ | 436 | $ | (131) | $ | 10 | $ | 725 | Commercial and Industrial | $ | 551 | $ | (141) | $ | 410 | $ | 613 | $ | (232) | $ | 19 | $ | 810 | ||||||||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | 143 | 16 | 159 | 137 | (5) | 1 | 292 | Real estate — commercial mortgage | 143 | 16 | 159 | 135 | (18) | 3 | 279 | ||||||||||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | 22 | (7) | 15 | 26 | 0 | 0 | 41 | Real estate — construction | 22 | (7) | 15 | 19 | — | — | 34 | ||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 165 | 9 | 174 | 163 | (5) | 1 | 333 | Total commercial real estate loans | 165 | 9 | 174 | 154 | (18) | 3 | 313 | ||||||||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 35 | 8 | 43 | 17 | (6) | 1 | 55 | Commercial lease financing | 35 | 8 | 43 | 30 | (16) | 1 | 58 | ||||||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 751 | (124) | 627 | 616 | (142) | 12 | 1,113 | Total commercial loans | 751 | (124) | 627 | 797 | (266) | 23 | 1,181 | ||||||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 7 | 77 | 84 | 19 | (2) | 0 | 101 | Real estate — residential mortgage | 7 | 77 | 84 | 21 | (2) | 1 | 104 | ||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 31 | 147 | 178 | 22 | (6) | 3 | 197 | Home equity loans | 31 | 147 | 178 | 9 | (10) | 6 | 183 | ||||||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 34 | 63 | 97 | 51 | (22) | 4 | 130 | Consumer direct loans | 34 | 63 | 97 | 52 | (30) | 6 | 125 | ||||||||||||||||||||||||||||||||||||
Credit cards | Credit cards | 47 | 35 | 82 | 44 | (23) | 4 | 107 | Credit cards | 47 | 35 | 82 | 39 | (32) | 6 | 95 | ||||||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 30 | 6 | 36 | 32 | (16) | 8 | 60 | Consumer indirect loans | 30 | 6 | 36 | 16 | (22) | 12 | 42 | ||||||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 149 | 328 | 477 | 168 | (69) | 19 | 595 | Total consumer loans | 149 | 328 | 477 | 137 | (96) | 31 | 549 | ||||||||||||||||||||||||||||||||||||
Total ALLL — continuing operations | Total ALLL — continuing operations | 900 | 204 | 1,104 | 784 | (a) | (211) | 31 | 1,708 | Total ALLL — continuing operations | 900 | 204 | 1,104 | 934 | (a) | (362) | 54 | 1,730 | ||||||||||||||||||||||||||||||||||
Discontinued operations | Discontinued operations | 10 | 31 | 41 | 3 | (4) | 3 | 43 | Discontinued operations | 10 | 31 | 41 | 2 | (4) | 3 | 42 | ||||||||||||||||||||||||||||||||||||
Total ALLL — including discontinued operations | Total ALLL — including discontinued operations | $ | 910 | $ | 235 | $ | 1,145 | $ | 787 | $ | (215) | $ | 34 | $ | 1,751 | Total ALLL — including discontinued operations | $ | 910 | $ | 235 | $ | 1,145 | $ | 936 | $ | (366) | $ | 57 | $ | 1,772 |
Segment | Portfolio | Key Macroeconomic Variables (a) | ||||||
Commercial | Commercial and industrial | BBB corporate bond rate (spread), GDP, industrial production, and unemployment rate | ||||||
Commercial real estate | BBB corporate bond rate (spread), property and real estate price indices, and unemployment rate | |||||||
Commercial lease financing | BBB corporate bond rate (spread), GDP, and unemployment rate | |||||||
Consumer | Real estate — residential mortgage | GDP, home price index, unemployment rate, and 30 year mortgage rate | ||||||
Home equity | Home price index, unemployment rate, and 30 year mortgage rate | |||||||
Consumer direct | Unemployment rate and U.S. household income | |||||||
Consumer indirect | New vehicle sales, used vehicle prices, and unemployment rate | |||||||
Credit cards | Unemployment rate and U.S. household income | |||||||
Discontinued operations | Unemployment rate |
As of June 30, 2021 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2021 | As of September 30, 2021 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis by Origination Year and Internal Risk Rating | Amortized Cost Basis by Origination Year and Internal Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | Commercial and Industrial | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | $ | 6,763 | $ | 8,185 | $ | 4,542 | $ | 3,382 | $ | 2,124 | $ | 3,974 | $ | 19,061 | $ | 104 | $ | 48,135 | Pass | $ | 9,315 | $ | 5,420 | $ | 4,491 | $ | 3,186 | $ | 2,016 | $ | 3,884 | $ | 18,950 | $ | 102 | $ | 47,364 | ||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 30 | 118 | 232 | 242 | 208 | 236 | 1,086 | 30 | 2,182 | Criticized (Accruing) | 40 | 115 | 193 | 192 | 236 | 208 | 925 | 27 | 1,936 | ||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 1 | 7 | 17 | 52 | 7 | 48 | 221 | 2 | 355 | Criticized (Nonaccruing) | — | 9 | 18 | 41 | 6 | 16 | 160 | 3 | 253 | ||||||||||||||||||||||||||||||||||||||
Total commercial and industrial | Total commercial and industrial | 6,794 | 8,310 | 4,791 | 3,676 | 2,339 | 4,258 | 20,368 | 136 | 50,672 | Total commercial and industrial | 9,355 | 5,544 | 4,702 | 3,419 | 2,258 | 4,108 | 20,035 | 132 | 49,553 | ||||||||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | Real estate — commercial mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 1,678 | 1,415 | 2,703 | 1,371 | 786 | 3,254 | 716 | 46 | 11,969 | Pass | 3,219 | 1,357 | 2,589 | 1,338 | 687 | 3,073 | 690 | 64 | 13,017 | ||||||||||||||||||||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 12 | 25 | 156 | 152 | 142 | 330 | 111 | 2 | 930 | Criticized (Accruing) | 15 | 20 | 87 | 85 | 123 | 228 | 48 | 2 | 608 | ||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 0 | 0 | 4 | 1 | 16 | 41 | 4 | 0 | 66 | Criticized (Nonaccruing) | — | 1 | 1 | 5 | 1 | 37 | 4 | — | 49 | ||||||||||||||||||||||||||||||||||||||
Total real estate — commercial mortgage | Total real estate — commercial mortgage | 1,690 | 1,440 | 2,863 | 1,524 | 944 | 3,625 | 831 | 48 | 12,965 | Total real estate — commercial mortgage | 3,234 | 1,378 | 2,677 | 1,428 | 811 | 3,338 | 742 | 66 | 13,674 | ||||||||||||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | Real estate — construction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 177 | 555 | 700 | 365 | 152 | 36 | 28 | 9 | 2,022 | Pass | 318 | 619 | 610 | 292 | 104 | 49 | 29 | 6 | 2,027 | ||||||||||||||||||||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 0 | 4 | 14 | 54 | 22 | 14 | 2 | 0 | 110 | Criticized (Accruing) | — | 4 | 13 | 52 | 22 | 1 | 1 | — | 93 | ||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Criticized (Nonaccruing) | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Total real estate — construction | Total real estate — construction | 177 | 559 | 714 | 419 | 174 | 50 | 30 | 9 | 2,132 | Total real estate — construction | 318 | 623 | 623 | 344 | 126 | 50 | 30 | 6 | 2,120 | ||||||||||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | Commercial lease financing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 409 | 880 | 825 | 416 | 380 | 1,037 | 0 | 0 | 3,947 | Pass | 655 | 815 | 744 | 348 | 347 | 997 | — | — | 3,906 | ||||||||||||||||||||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 0 | 19 | 40 | 17 | 23 | 8 | 0 | 0 | 107 | Criticized (Accruing) | — | 4 | 35 | 14 | 13 | 5 | — | — | 71 | ||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 0 | 0 | 2 | 1 | 2 | 2 | 0 | 0 | 7 | Criticized (Nonaccruing) | — | — | 1 | 1 | 1 | 2 | — | — | 5 | ||||||||||||||||||||||||||||||||||||||
Total commercial lease financing | Total commercial lease financing | 409 | 899 | 867 | 434 | 405 | 1,047 | 0 | 0 | 4,061 | Total commercial lease financing | 655 | 819 | 780 | 363 | 361 | 1,004 | 0 | — | 3,982 | ||||||||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | $ | 9,070 | $ | 11,208 | $ | 9,235 | $ | 6,053 | $ | 3,862 | $ | 8,980 | $ | 21,229 | $ | 193 | $ | 69,830 | Total commercial loans | $ | 13,562 | $ | 8,364 | $ | 8,782 | $ | 5,554 | $ | 3,556 | $ | 8,500 | $ | 20,807 | $ | 204 | $ | 69,329 |
As of December 31, 2020 | As of December 31, 2020 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | As of December 31, 2020 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis by Origination Year and Internal Risk Rating | Amortized Cost Basis by Origination Year and Internal Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and Industrial | Commercial and Industrial | Commercial and Industrial | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | $ | 13,100 | $ | 5,487 | $ | 4,040 | $ | 2,617 | $ | 1,967 | $ | 2,709 | $ | 19,832 | $ | 118 | $ | 49,870 | Pass | $ | 13,100 | $ | 5,487 | $ | 4,040 | $ | 2,617 | $ | 1,967 | $ | 2,709 | $ | 19,832 | $ | 118 | $ | 49,870 | ||||||||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 66 | 198 | 174 | 236 | 150 | 279 | 1,527 | 22 | 2,652 | Criticized (Accruing) | 66 | 198 | 174 | 236 | 150 | 279 | 1,527 | 22 | 2,652 | ||||||||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 8 | 27 | 71 | 28 | 17 | 7 | 226 | 1 | 385 | Criticized (Nonaccruing) | 8 | 27 | 71 | 28 | 17 | 7 | 226 | 1 | 385 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial and industrial | Total commercial and industrial | 13,174 | 5,712 | 4,285 | 2,881 | 2,134 | 2,995 | 21,585 | 141 | 52,907 | Total commercial and industrial | 13,174 | 5,712 | 4,285 | 2,881 | 2,134 | 2,995 | 21,585 | 141 | 52,907 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate — commercial mortgage | Real estate — commercial mortgage | Real estate — commercial mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 1,591 | 2,937 | 1,737 | 867 | 765 | 3,027 | 885 | 43 | 11,852 | Pass | 1,591 | 2,937 | 1,737 | 867 | 765 | 3,027 | 885 | 43 | 11,852 | ||||||||||||||||||||||||||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 12 | 142 | 81 | 145 | 72 | 255 | 22 | 2 | 731 | Criticized (Accruing) | 12 | 142 | 81 | 145 | 72 | 255 | 22 | 2 | 731 | ||||||||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 0 | 1 | 4 | 4 | 2 | 88 | 5 | 0 | 104 | Criticized (Nonaccruing) | — | 1 | 4 | 4 | 2 | 88 | 5 | — | 104 | ||||||||||||||||||||||||||||||||||||||||||||
Total real estate — commercial mortgage | Total real estate — commercial mortgage | 1,603 | 3,080 | 1,822 | 1,016 | 839 | 3,370 | 912 | 45 | 12,687 | Total real estate — commercial mortgage | 1,603 | 3,080 | 1,822 | 1,016 | 839 | 3,370 | 912 | 45 | 12,687 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate — construction | Real estate — construction | Real estate — construction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 367 | 764 | 510 | 188 | 27 | 22 | 31 | 5 | 1,914 | Pass | 367 | 764 | 510 | 188 | 27 | 22 | 31 | 5 | 1,914 | ||||||||||||||||||||||||||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 0 | 14 | 38 | 18 | 0 | 2 | 1 | 0 | 73 | Criticized (Accruing) | — | 14 | 38 | 18 | — | 2 | 1 | — | 73 | ||||||||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Criticized (Nonaccruing) | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Total real estate — construction | Total real estate — construction | 367 | 778 | 548 | 206 | 27 | 24 | 32 | 5 | 1,987 | Total real estate — construction | 367 | 778 | 548 | 206 | 27 | 24 | 32 | 5 | 1,987 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | Commercial lease financing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Rating: | Risk Rating: | Risk Rating: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 1,076 | 1,050 | 534 | 504 | 228 | 901 | 0 | 0 | 4,293 | Pass | 1,076 | 1,050 | 534 | 504 | 228 | 901 | — | — | 4,293 | ||||||||||||||||||||||||||||||||||||||||||||
Criticized (Accruing) | Criticized (Accruing) | 10 | 35 | 15 | 26 | 7 | 4 | 0 | 0 | 97 | Criticized (Accruing) | 10 | 35 | 15 | 26 | 7 | 4 | — | — | 97 | ||||||||||||||||||||||||||||||||||||||||||||
Criticized (Nonaccruing) | Criticized (Nonaccruing) | 0 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 9 | Criticized (Nonaccruing) | — | 2 | 2 | 2 | 2 | 1 | — | — | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial lease financing | Total commercial lease financing | 1,086 | 1,087 | 551 | 532 | 237 | 906 | 0 | 0 | 4,399 | Total commercial lease financing | 1,086 | 1,087 | 551 | 532 | 237 | 906 | — | — | 4,399 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | $ | 16,230 | $ | 10,657 | $ | 7,206 | $ | 4,635 | $ | 3,237 | $ | 7,295 | $ | 22,529 | $ | 191 | $ | 71,980 | Total commercial loans | $ | 16,230 | $ | 10,657 | $ | 7,206 | $ | 4,635 | $ | 3,237 | $ | 7,295 | $ | 22,529 | $ | 191 | $ | 71,980 |
As of June 30, 2021 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2021 | As of September 30, 2021 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis by Origination Year and FICO Score | Amortized Cost Basis by Origination Year and FICO Score | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | Real estate — residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | $ | 3,871 | $ | 3,348 | $ | 1,106 | $ | 129 | $ | 173 | $ | 1,353 | 0 | 0 | $ | 9,980 | 750 and above | $ | 6,071 | $ | 3,150 | $ | 933 | $ | 104 | $ | 141 | $ | 1,218 | — | — | $ | 11,617 | ||||||||||||||||||||||||
660 to 749 | 660 to 749 | 743 | 462 | 201 | 54 | 37 | 363 | 0 | 0 | 1,860 | 660 to 749 | 1,300 | 407 | 186 | 47 | 31 | 323 | — | — | 2,294 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 10 | 14 | 17 | 18 | 9 | 157 | 0 | 0 | 225 | Less than 660 | 23 | 12 | 19 | 16 | 10 | 151 | — | — | 231 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 18 | 1 | 2 | 2 | 4 | 39 | 0 | 0 | 66 | No Score | 19 | 1 | 1 | 2 | 4 | 34 | 1 | — | 62 | ||||||||||||||||||||||||||||||||||||||
Total real estate — residential mortgage | Total real estate — residential mortgage | 4,642 | 3,825 | 1,326 | 203 | 223 | 1,912 | 0 | 0 | 12,131 | Total real estate — residential mortgage | 7,413 | 3,570 | 1,139 | 169 | 186 | 1,726 | 1 | — | 14,204 | ||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | Home equity loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 799 | 911 | 321 | 128 | 160 | 818 | $ | 2,426 | $ | 508 | 6,071 | 750 and above | 919 | 885 | 285 | 113 | 139 | 739 | $ | 2,333 | $ | 462 | 5,875 | ||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 262 | 335 | 147 | 56 | 55 | 247 | 1,087 | 172 | 2,361 | 660 to 749 | 345 | 295 | 130 | 49 | 47 | 222 | 1,037 | 158 | 2,283 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 14 | 28 | 21 | 15 | 15 | 106 | 353 | 51 | 603 | Less than 660 | 20 | 26 | 20 | 14 | 15 | 99 | 336 | 48 | 578 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 0 | 2 | 2 | 1 | 0 | 2 | 4 | 1 | 12 | No Score | — | 2 | — | 1 | — | 2 | 5 | 1 | 11 | ||||||||||||||||||||||||||||||||||||||
Total home equity loans | Total home equity loans | 1,075 | 1,276 | 491 | 200 | 230 | 1,173 | 3,870 | 732 | 9,047 | Total home equity loans | 1,284 | 1,208 | 435 | 177 | 201 | 1,062 | 3,711 | 669 | 8,747 | ||||||||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | Consumer direct loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 867 | 1,457 | 688 | 90 | 24 | 120 | 112 | 0 | 3,358 | 750 and above | 1,287 | 1,271 | 594 | 76 | 20 | 137 | 109 | — | 3,494 | ||||||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 251 | 383 | 220 | 58 | 15 | 48 | 224 | 0 | 1,199 | 660 to 749 | 413 | 350 | 200 | 51 | 13 | 48 | 217 | — | 1,292 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 10 | 20 | 28 | 14 | 4 | 12 | 64 | 0 | 152 | Less than 660 | 19 | 22 | 29 | 12 | 3 | 14 | 61 | — | 160 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 31 | 44 | 36 | 14 | 12 | 22 | 181 | 0 | 340 | No Score | 47 | 45 | 32 | 16 | 9 | 21 | 208 | — | 378 | ||||||||||||||||||||||||||||||||||||||
Total consumer direct loans | Total consumer direct loans | 1,159 | 1,904 | 972 | 176 | 55 | 202 | 581 | 0 | 5,049 | Total consumer direct loans | 1,766 | 1,688 | 855 | 155 | 45 | 220 | 595 | — | 5,324 | ||||||||||||||||||||||||||||||||||||||
Credit cards | Credit cards | Credit cards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 0 | 0 | 0 | 0 | 0 | 0 | 472 | 0 | 472 | 750 and above | — | — | — | — | — | — | 472 | — | 472 | ||||||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 0 | 0 | 0 | 0 | 0 | 0 | 372 | 0 | 372 | 660 to 749 | — | — | — | — | — | — | 375 | — | 375 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 0 | 0 | 0 | 0 | 0 | 0 | 77 | 0 | 77 | Less than 660 | — | — | — | — | — | — | 72 | — | 72 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 2 | No Score | — | — | — | — | — | — | 9 | — | 9 | ||||||||||||||||||||||||||||||||||||||
Total credit cards | Total credit cards | 0 | 0 | 0 | 0 | 0 | 0 | 923 | 0 | 923 | Total credit cards | — | — | — | — | — | — | 928 | — | 928 | ||||||||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | Consumer indirect loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 115 | 821 | 770 | 286 | 130 | 81 | 0 | 0 | 2,203 | 750 and above | 4 | — | — | — | — | 36 | — | — | 40 | ||||||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 0 | 496 | 416 | 163 | 63 | 54 | 0 | 0 | 1,192 | 660 to 749 | — | — | — | — | — | 26 | — | — | 26 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 0 | 102 | 116 | 70 | 35 | 32 | 0 | 0 | 355 | Less than 660 | — | — | — | — | — | 11 | — | — | 11 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | No Score | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Total consumer indirect loans | Total consumer indirect loans | 115 | 1,419 | 1,302 | 519 | 228 | 167 | 0 | 0 | 3,750 | Total consumer indirect loans | 4 | — | — | — | — | 73 | — | — | 77 | ||||||||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | $ | 6,991 | $ | 8,424 | $ | 4,091 | $ | 1,098 | $ | 736 | $ | 3,454 | $ | 5,374 | $ | 732 | $ | 30,900 | Total consumer loans | $ | 10,467 | $ | 6,466 | $ | 2,429 | $ | 501 | $ | 432 | $ | 3,081 | $ | 5,235 | $ | 669 | $ | 29,280 |
As of December 31, 2020 | As of December 31, 2020 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | As of December 31, 2020 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis by Origination Year and FICO Score | Amortized Cost Basis by Origination Year and FICO Score | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | Real estate — residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | $ | 3,595 | $ | 1,620 | $ | 194 | $ | 254 | $ | 537 | $ | 1,211 | 0 | 0 | $ | 7,411 | 750 and above | $ | 3,595 | $ | 1,620 | $ | 194 | $ | 254 | $ | 537 | $ | 1,211 | — | — | $ | 7,411 | ||||||||||||||||||||||||
660 to 749 | 660 to 749 | 710 | 284 | 76 | 48 | 100 | 332 | 0 | 0 | 1,550 | 660 to 749 | 710 | 284 | 76 | 48 | 100 | 332 | — | — | 1,550 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 16 | 28 | 21 | 10 | 26 | 170 | 0 | 0 | 271 | Less than 660 | 16 | 28 | 21 | 10 | 26 | 170 | — | — | 271 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 1 | 2 | 2 | 7 | 2 | 52 | 0 | 0 | 66 | No Score | 1 | 2 | 2 | 7 | 2 | 52 | — | — | 66 | ||||||||||||||||||||||||||||||||||||||
Total real estate — residential mortgage | Total real estate — residential mortgage | 4,322 | 1,934 | 293 | 319 | 665 | 1,765 | 0 | 0 | 9,298 | Total real estate — residential mortgage | 4,322 | 1,934 | 293 | 319 | 665 | 1,765 | — | — | 9,298 | ||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | Home equity loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 1,043 | 404 | 168 | 202 | 190 | 839 | $ | 2,689 | $ | 590 | 6,125 | 750 and above | 1,043 | 404 | 168 | 202 | 190 | 839 | $ | 2,689 | $ | 590 | 6,125 | ||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 385 | 198 | 82 | 77 | 69 | 253 | 1,237 | 206 | 2,507 | 660 to 749 | 385 | 198 | 82 | 77 | 69 | 253 | 1,237 | 206 | 2,507 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 27 | 30 | 18 | 20 | 20 | 113 | 426 | 61 | 715 | Less than 660 | 27 | 30 | 18 | 20 | 20 | 113 | 426 | 61 | 715 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 2 | 2 | 1 | 0 | 0 | 2 | 5 | 1 | 13 | No Score | 2 | 2 | 1 | — | — | 2 | 5 | 1 | 13 | ||||||||||||||||||||||||||||||||||||||
Total home equity loans | Total home equity loans | 1,457 | 634 | 269 | 299 | 279 | 1,207 | 4,357 | 858 | 9,360 | Total home equity loans | 1,457 | 634 | 269 | 299 | 279 | 1,207 | 4,357 | 858 | 9,360 | ||||||||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | Consumer direct loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 1,840 | 883 | 115 | 32 | 16 | 57 | 119 | 0 | 3,062 | 750 and above | 1,840 | 883 | 115 | 32 | 16 | 57 | 119 | — | 3,062 | ||||||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 479 | 268 | 80 | 22 | 14 | 33 | 254 | 1 | 1,151 | 660 to 749 | 479 | 268 | 80 | 22 | 14 | 33 | 254 | 1 | 1,151 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 23 | 37 | 21 | 8 | 5 | 10 | 81 | 0 | 185 | Less than 660 | 23 | 37 | 21 | 8 | 5 | 10 | 81 | — | 185 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 65 | 35 | 21 | 21 | 10 | 11 | 153 | 0 | 316 | No Score | 65 | 35 | 21 | 21 | 10 | 11 | 153 | — | 316 | ||||||||||||||||||||||||||||||||||||||
Total consumer direct loans | Total consumer direct loans | 2,407 | 1,223 | 237 | 83 | 45 | 111 | 607 | 1 | 4,714 | Total consumer direct loans | 2,407 | 1,223 | 237 | 83 | 45 | 111 | 607 | 1 | 4,714 | ||||||||||||||||||||||||||||||||||||||
Credit cards | Credit cards | Credit cards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 0 | 0 | 0 | 0 | 0 | 0 | 488 | 0 | 488 | 750 and above | — | — | — | — | — | — | 488 | — | 488 | ||||||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 0 | 0 | 0 | 0 | 0 | 0 | 407 | 0 | 407 | 660 to 749 | — | — | — | — | — | — | 407 | — | 407 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 0 | 0 | 0 | 0 | 0 | 0 | 93 | 0 | 93 | Less than 660 | — | — | — | — | — | — | 93 | — | 93 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | No Score | — | — | — | — | — | — | 1 | — | 1 | ||||||||||||||||||||||||||||||||||||||
Total credit cards | Total credit cards | 0 | 0 | 0 | 0 | 0 | 0 | 989 | 0 | 989 | Total credit cards | — | — | — | — | — | — | 989 | — | 989 | ||||||||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | Consumer indirect loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FICO Score: | FICO Score: | FICO Score: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
750 and above | 750 and above | 1,092 | 924 | 369 | 188 | 69 | 66 | 0 | 0 | 2,708 | 750 and above | 1,092 | 924 | 369 | 188 | 69 | 66 | — | — | 2,708 | ||||||||||||||||||||||||||||||||||||||
660 to 749 | 660 to 749 | 653 | 558 | 232 | 97 | 36 | 47 | 0 | 0 | 1,623 | 660 to 749 | 653 | 558 | 232 | 97 | 36 | 47 | — | — | 1,623 | ||||||||||||||||||||||||||||||||||||||
Less than 660 | Less than 660 | 143 | 163 | 99 | 54 | 25 | 28 | 0 | 0 | 512 | Less than 660 | 143 | 163 | 99 | 54 | 25 | 28 | — | — | 512 | ||||||||||||||||||||||||||||||||||||||
No Score | No Score | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | No Score | 1 | — | — | — | — | — | — | — | 1 | ||||||||||||||||||||||||||||||||||||||
Total consumer indirect loans | Total consumer indirect loans | 1,889 | 1,645 | 700 | 339 | 130 | 141 | 0 | 0 | 4,844 | Total consumer indirect loans | 1,889 | 1,645 | 700 | 339 | 130 | 141 | — | — | 4,844 | ||||||||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | $ | 10,075 | $ | 5,436 | $ | 1,499 | $ | 1,040 | $ | 1,119 | $ | 3,224 | $ | 5,953 | $ | 859 | $ | 29,205 | Total consumer loans | $ | 10,075 | $ | 5,436 | $ | 1,499 | $ | 1,040 | $ | 1,119 | $ | 3,224 | $ | 5,953 | $ | 859 | $ | 29,205 |
June 30, 2021 | Current | 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) | |||||||||||||||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | Current | 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 | Dollars in millions | |||||||||||||||||||||||||||||||||||||||||||||
LOAN TYPE | LOAN TYPE | LOAN TYPE | ||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 50,188 | $ | 71 | $ | 19 | $ | 39 | $ | 355 | $ | 484 | $ | 50,672 | Commercial and industrial | $ | 49,161 | $ | 56 | $ | 33 | $ | 50 | $ | 253 | $ | 392 | $ | 49,553 | ||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | Commercial mortgage | 12,865 | 12 | 7 | 15 | 66 | 100 | 12,965 | Commercial mortgage | 13,606 | 12 | 2 | 5 | 49 | 68 | 13,674 | ||||||||||||||||||||||||||||||
Construction | Construction | 2,131 | 0 | 1 | 0 | 0 | 1 | 2,132 | Construction | 2,118 | 1 | — | 1 | — | 2 | 2,120 | ||||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 14,996 | 12 | 8 | 15 | 66 | 101 | 15,097 | Total commercial real estate loans | 15,724 | 13 | 2 | 6 | 49 | 70 | 15,794 | ||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 4,043 | 7 | 1 | 3 | 7 | 18 | 4,061 | Commercial lease financing | 3,973 | 2 | 1 | 1 | 5 | 9 | 3,982 | ||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | $ | 69,227 | $ | 90 | $ | 28 | $ | 57 | $ | 428 | $ | 603 | $ | 69,830 | Total commercial loans | $ | 68,858 | $ | 71 | $ | 36 | $ | 57 | $ | 307 | $ | 471 | $ | 69,329 | ||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | $ | 12,023 | $ | 7 | $ | 2 | $ | 0 | $ | 99 | $ | 108 | $ | 12,131 | Real estate — residential mortgage | $ | 14,096 | $ | 6 | $ | 3 | $ | 6 | $ | 93 | $ | 108 | $ | 14,204 | ||||||||||||||||
Home equity loans | Home equity loans | 8,861 | 23 | 10 | 7 | 146 | 186 | 9,047 | Home equity loans | 8,559 | 22 | 10 | 10 | 146 | 188 | 8,747 | ||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 5,035 | 5 | 2 | 3 | 4 | 14 | 5,049 | Consumer direct loans | 5,307 | 6 | 3 | 4 | 4 | 17 | 5,324 | ||||||||||||||||||||||||||||||
Credit cards | Credit cards | 909 | 3 | 2 | 6 | 3 | 14 | 923 | Credit cards | 914 | 3 | 3 | 5 | 3 | 14 | 928 | ||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 3,717 | 14 | 4 | 1 | 14 | 33 | 3,750 | Consumer indirect loans | 75 | 1 | — | — | 1 | 2 | 77 | ||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | $ | 30,545 | $ | 52 | $ | 20 | $ | 17 | $ | 266 | $ | 355 | $ | 30,900 | Total consumer loans | $ | 28,951 | $ | 38 | $ | 19 | $ | 25 | $ | 247 | $ | 329 | $ | 29,280 | ||||||||||||||||
Total loans | Total loans | $ | 99,772 | $ | 142 | $ | 48 | $ | 74 | $ | 694 | $ | 958 | $ | 100,730 | Total loans | $ | 97,809 | $ | 109 | $ | 55 | $ | 82 | $ | 554 | $ | 800 | $ | 98,609 |
December 31, 2020 | December 31, 2020 | Current | 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) | December 31, 2020 | Current | 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) | ||||||||||||||||||||||||||||||||||||
in millions | Total Loans (c) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Current | 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) | ||||||||||||||||||||||||||||||||||||||||||||
LOAN TYPE | LOAN TYPE | LOAN TYPE | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | $ | 52,396 | $ | 36 | $ | 50 | $ | 40 | $ | 385 | $ | 511 | $ | 52,907 | Commercial and industrial | $ | 52,396 | $ | 36 | $ | 50 | $ | 40 | $ | 385 | $ | 511 | $ | 52,907 | ||||||||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | Commercial mortgage | 12,548 | 9 | 5 | 21 | 104 | 139 | 12,687 | Commercial mortgage | 12,548 | 9 | 5 | 21 | 104 | 139 | 12,687 | ||||||||||||||||||||||||||||||||||||
Construction | Construction | 1,986 | 0 | 0 | 1 | 0 | 1 | 1,987 | Construction | 1,986 | — | — | 1 | — | 1 | 1,987 | ||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 14,534 | 9 | 5 | 22 | 104 | 140 | 14,674 | Total commercial real estate loans | 14,534 | 9 | 5 | 22 | 104 | 140 | 14,674 | ||||||||||||||||||||||||||||||||||||
Commercial lease financing | Commercial lease financing | 4,369 | 21 | 1 | 0 | 8 | 30 | 4,399 | Commercial lease financing | 4,369 | 21 | 1 | — | 8 | 30 | 4,399 | ||||||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | $ | 71,299 | $ | 66 | $ | 56 | $ | 62 | $ | 497 | $ | 681 | $ | 71,980 | Total commercial loans | $ | 71,299 | $ | 66 | $ | 56 | $ | 62 | $ | 497 | $ | 681 | $ | 71,980 | ||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | $ | 9,173 | $ | 11 | $ | 3 | $ | 1 | $ | 110 | $ | 125 | $ | 9,298 | Real estate — residential mortgage | $ | 9,173 | $ | 11 | $ | 3 | $ | 1 | $ | 110 | $ | 125 | $ | 9,298 | ||||||||||||||||||||||
Home equity loans | Home equity loans | 9,143 | 34 | 20 | 9 | 154 | 217 | 9,360 | Home equity loans | 9,143 | 34 | 20 | 9 | 154 | 217 | 9,360 | ||||||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 4,694 | 7 | 4 | 4 | 5 | 20 | 4,714 | Consumer direct loans | 4,694 | 7 | 4 | 4 | 5 | 20 | 4,714 | ||||||||||||||||||||||||||||||||||||
Credit cards | Credit cards | 972 | 5 | 3 | 7 | 2 | 17 | 989 | Credit cards | 972 | 5 | 3 | 7 | 2 | 17 | 989 | ||||||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 4,792 | 25 | 7 | 3 | 17 | 52 | 4,844 | Consumer indirect loans | 4,792 | 25 | 7 | 3 | 17 | 52 | 4,844 | ||||||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | $ | 28,774 | $ | 82 | $ | 37 | $ | 24 | $ | 288 | $ | 431 | $ | 29,205 | Total consumer loans | $ | 28,774 | $ | 82 | $ | 37 | $ | 24 | $ | 288 | $ | 431 | $ | 29,205 | ||||||||||||||||||||||
Total loans | Total loans | $ | 100,073 | $ | 148 | $ | 93 | $ | 86 | $ | 785 | $ | 1,112 | $ | 101,185 | Total loans | $ | 100,073 | $ | 148 | $ | 93 | $ | 86 | $ | 785 | $ | 1,112 | $ | 101,185 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
in millions | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Commercial loans: | Commercial loans: | Commercial loans: | ||||||||||||||||||||||||||
Extension of Maturity Date | Extension of Maturity Date | 0 | $ | 8 | $ | 26 | $ | 8 | Extension of Maturity Date | $ | — | $ | — | $ | 5 | $ | 8 | |||||||||||
Payment or Covenant Modification/Deferment | Payment or Covenant Modification/Deferment | $ | 16 | 0 | 23 | 0 | Payment or Covenant Modification/Deferment | — | — | 7 | — | |||||||||||||||||
Bankruptcy Plan Modification | Bankruptcy Plan Modification | 0 | 0 | 0 | 0 | Bankruptcy Plan Modification | — | — | — | — | ||||||||||||||||||
Increase in new commitment or new money | Increase in new commitment or new money | 0 | 4 | 0 | 4 | Increase in new commitment or new money | — | — | — | — | ||||||||||||||||||
Total | Total | $ | 16 | $ | 12 | $ | 49 | $ | 12 | Total | $ | — | $ | — | $ | 12 | $ | 8 | ||||||||||
Consumer loans: | Consumer loans: | Consumer loans: | ||||||||||||||||||||||||||
Interest rate reduction | Interest rate reduction | $ | 2 | $ | 1 | $ | 4 | $ | 9 | Interest rate reduction | $ | 3 | $ | 13 | $ | 6 | $ | 22 | ||||||||||
Other | Other | 4 | 5 | 7 | 13 | Other | 12 | 6 | 18 | 18 | ||||||||||||||||||
Total | Total | $ | 6 | $ | 6 | $ | 11 | $ | 22 | Total | $ | 15 | $ | 19 | $ | 24 | $ | 40 | ||||||||||
Total TDRs | Total TDRs | $ | 22 | $ | 18 | $ | 60 | $ | 34 | Total TDRs | $ | 15 | $ | 19 | $ | 36 | $ | 48 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
in millions | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Balance at beginning of the period | Balance at beginning of the period | $ | 376 | $ | 340 | $ | 363 | $ | 347 | Balance at beginning of the period | $ | 334 | $ | 310 | $ | 363 | $ | 347 | ||||||||||
Additions | Additions | 22 | 22 | 81 | 39 | Additions | 17 | 26 | 98 | 65 | ||||||||||||||||||
Payments | Payments | (60) | (35) | (81) | (53) | Payments | (81) | (22) | (162) | (75) | ||||||||||||||||||
Charge-offs | Charge-offs | (4) | (17) | (29) | (23) | Charge-offs | — | (8) | (29) | (31) | ||||||||||||||||||
Balance at end of period | Balance at end of period | $ | 334 | $ | 310 | $ | 334 | $ | 310 | Balance at end of period | $ | 270 | $ | 306 | $ | 270 | $ | 306 |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 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 | 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 | ||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 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 | |||||||||||||||||||||||||||||||||||||||
LOAN TYPE | LOAN TYPE | LOAN TYPE | ||||||||||||||||||||||||||||||||||||||||||||
Nonperforming: | Nonperforming: | Nonperforming: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | 41 | $ | 112 | $ | 65 | 66 | $ | 136 | $ | 92 | Commercial and industrial | 35 | $ | 92 | $ | 53 | 66 | $ | 136 | $ | 92 | ||||||||||||||||||||||||
Commercial real estate: | Commercial real estate: | Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | Commercial mortgage | 4 | 66 | 45 | 7 | 62 | 50 | Commercial mortgage | 3 | 50 | 29 | 7 | 62 | 50 | ||||||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 4 | 66 | 45 | 7 | 62 | 50 | Total commercial real estate loans | 3 | 50 | 29 | 7 | 62 | 50 | ||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 45 | 178 | 110 | 73 | 198 | 142 | Total commercial loans | 38 | 142 | 82 | 73 | 198 | 142 | ||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 214 | 25 | 23 | 258 | 35 | 34 | Real estate — residential mortgage | 218 | 26 | 25 | 258 | 35 | 34 | ||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 532 | 35 | 30 | 630 | 41 | 37 | Home equity loans | 569 | 38 | 33 | 630 | 41 | 37 | ||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 200 | 3 | 3 | 212 | 3 | 3 | Consumer direct loans | 201 | 3 | 3 | 212 | 3 | 3 | ||||||||||||||||||||||||||||||||
Credit cards | Credit cards | 291 | 2 | 2 | 356 | 2 | 2 | Credit cards | 328 | 2 | 2 | 356 | 2 | 2 | ||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 735 | 13 | 9 | 861 | 15 | 11 | Consumer indirect loans | 23 | 1 | 1 | 861 | 15 | 11 | ||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 1,972 | 78 | 67 | 2,317 | 96 | 87 | Total consumer loans | 1,339 | 70 | 64 | 2,317 | 96 | 87 | ||||||||||||||||||||||||||||||||
Total nonperforming TDRs | Total nonperforming TDRs | 2,017 | 256 | 177 | 2,390 | 294 | 229 | Total nonperforming TDRs | 1,377 | 212 | 146 | 2,390 | 294 | 229 | ||||||||||||||||||||||||||||||||
Prior-year accruing:(a) | Prior-year accruing:(a) | Prior-year accruing:(a) | ||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | Commercial and industrial | 13 | 26 | 25 | 3 | 5 | 0 | Commercial and industrial | 7 | 49 | 26 | 3 | 5 | — | ||||||||||||||||||||||||||||||||
Commercial real estate | Commercial real estate | Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage | Commercial mortgage | 0 | 0 | 0 | 0 | 0 | 0 | Commercial mortgage | 1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 0 | 0 | 0 | 0 | 0 | 0 | Total commercial real estate loans | 1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 13 | 26 | 25 | 3 | 5 | 0 | Total commercial loans | 8 | 49 | 26 | 3 | 5 | — | ||||||||||||||||||||||||||||||||
Real estate — residential mortgage | Real estate — residential mortgage | 480 | 40 | 34 | 485 | 37 | 31 | Real estate — residential mortgage | 464 | 39 | 34 | 485 | 37 | 31 | ||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1,717 | 103 | 81 | 1,781 | 106 | 83 | Home equity loans | 1,648 | 100 | 78 | 1,781 | 106 | 83 | ||||||||||||||||||||||||||||||||
Consumer direct loans | Consumer direct loans | 200 | 5 | 2 | 163 | 4 | 3 | Consumer direct loans | 206 | 5 | 3 | 163 | 4 | 3 | ||||||||||||||||||||||||||||||||
Credit cards | Credit cards | 598 | 4 | 1 | 536 | 3 | 1 | Credit cards | 564 | 4 | 1 | 536 | 3 | 1 | ||||||||||||||||||||||||||||||||
Consumer indirect loans | Consumer indirect loans | 705 | 26 | 14 | 775 | 29 | 16 | Consumer indirect loans | 150 | 16 | 8 | 775 | 29 | 16 | ||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 3,700 | 178 | 132 | 3,740 | 179 | 134 | Total consumer loans | 3,032 | 164 | 124 | 3,740 | 179 | 134 | ||||||||||||||||||||||||||||||||
Total prior-year accruing TDRs | Total prior-year accruing TDRs | 3,713 | 204 | 157 | 3,743 | 184 | 134 | Total prior-year accruing TDRs | 3,040 | 163 | 124 | 3,743 | 184 | 134 | ||||||||||||||||||||||||||||||||
Total TDRs | Total TDRs | 5,730 | $ | 460 | $ | 334 | 6,133 | $ | 478 | $ | 363 | Total TDRs | 4,417 | $ | 375 | $ | 270 | 6,133 | $ | 478 | $ | 363 |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||
in millions | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Balance at the end of the prior period | Balance at the end of the prior period | $ | 178 | $ | 161 | $ | 197 | $ | 68 | 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 | Liability for credit losses on contingent guarantees at the end of the prior period | 0 | 0 | 0 | 7 | Liability for credit losses on contingent guarantees at the end of the prior period | — | — | — | 7 | ||||||||||||||||||
Cumulative effect from change in accounting principle (a), (b) | Cumulative effect from change in accounting principle (a), (b) | 0 | 0 | 0 | 66 | Cumulative effect from change in accounting principle (a), (b) | — | — | — | 66 | ||||||||||||||||||
Balance at beginning of period | Balance at beginning of period | 178 | 161 | 197 | 141 | Balance at beginning of period | 152 | 198 | 197 | 141 | ||||||||||||||||||
Provision (credit) for losses on off balance sheet exposures | Provision (credit) for losses on off balance sheet exposures | (26) | 37 | (45) | 57 | Provision (credit) for losses on off balance sheet exposures | — | 10 | (45) | 67 | ||||||||||||||||||
Balance at end of period | Balance at end of period | $ | 152 | $ | 198 | $ | 152 | $ | 198 | Balance at end of period | $ | 152 | $ | 208 | $ | 152 | $ | 208 |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||
in millions | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||||
ASSETS MEASURED ON A RECURRING BASIS | ASSETS MEASURED ON A RECURRING BASIS | ASSETS MEASURED ON A RECURRING BASIS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets: | Trading account assets: | Trading account assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury, agencies and corporations | U.S. Treasury, agencies and corporations | 0 | $ | 631 | 0 | $ | 631 | 0 | $ | 633 | 0 | $ | 633 | U.S. Treasury, agencies and corporations | — | $ | 747 | — | $ | 747 | — | $ | 633 | — | $ | 633 | ||||||||||||||||||||||||||
States and political subdivisions | States and political subdivisions | 0 | 86 | 0 | 86 | 0 | 24 | 0 | 24 | States and political subdivisions | — | 91 | — | 91 | — | 24 | — | 24 | ||||||||||||||||||||||||||||||||||
Other mortgage-backed securities | Other mortgage-backed securities | 0 | 106 | 0 | 106 | 0 | 47 | 0 | 47 | Other mortgage-backed securities | — | 21 | — | 21 | — | 47 | — | 47 | ||||||||||||||||||||||||||||||||||
Other securities | Other securities | 0 | 13 | 0 | 13 | 0 | 13 | 0 | 13 | Other securities | $ | 17 | 13 | — | 30 | — | 13 | — | 13 | |||||||||||||||||||||||||||||||||
Total trading account securities | Total trading account securities | 0 | 836 | 0 | 836 | 0 | 717 | 0 | 717 | Total trading account securities | 17 | 872 | — | 889 | — | 717 | — | 717 | ||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 0 | 15 | 0 | 15 | 0 | 18 | 0 | 18 | Commercial loans | — | 13 | — | 13 | — | 18 | — | 18 | ||||||||||||||||||||||||||||||||||
Total trading account assets | Total trading account assets | 0 | 851 | 0 | 851 | 0 | 735 | 0 | 735 | Total trading account assets | 17 | 885 | — | 902 | — | 735 | — | 735 | ||||||||||||||||||||||||||||||||||
Securities available for sale: | Securities available for sale: | Securities available for sale: | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury, agencies and corporations | U.S. Treasury, agencies and corporations | 0 | 4,886 | 0 | 4,886 | 0 | 1,000 | 0 | 1,000 | U.S. Treasury, agencies and corporations | — | 8,938 | — | 8,938 | — | 1,000 | — | 1,000 | ||||||||||||||||||||||||||||||||||
States and political subdivisions | States and political subdivisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | States and political subdivisions | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Agency residential collateralized mortgage obligations | Agency residential collateralized mortgage obligations | 0 | 14,374 | 0 | 14,374 | 0 | 14,273 | 0 | 14,273 | Agency residential collateralized mortgage obligations | — | 16,104 | — | 16,104 | — | 14,273 | — | 14,273 | ||||||||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | Agency residential mortgage-backed securities | 0 | 4,878 | 0 | 4,878 | 0 | 2,164 | 0 | 2,164 | Agency residential mortgage-backed securities | — | 5,408 | — | 5,408 | — | 2,164 | — | 2,164 | ||||||||||||||||||||||||||||||||||
Agency commercial mortgage-backed securities | Agency commercial mortgage-backed securities | 0 | 10,478 | 0 | 10,478 | 0 | 10,106 | 0 | 10,106 | Agency commercial mortgage-backed securities | — | 10,121 | — | 10,121 | — | 10,106 | — | 10,106 | ||||||||||||||||||||||||||||||||||
Other securities | Other securities | 0 | 0 | $ | 22 | 22 | 0 | 0 | $ | 13 | 13 | Other securities | — | 1 | $ | 22 | 23 | — | — | $ | 13 | 13 | ||||||||||||||||||||||||||||||
Total securities available for sale | Total securities available for sale | 0 | 34,616 | 22 | 34,638 | 0 | 27,543 | 13 | 27,556 | Total securities available for sale | — | 40,572 | 22 | 40,594 | — | 27,543 | 13 | 27,556 | ||||||||||||||||||||||||||||||||||
Other investments: | Other investments: | Other investments: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Principal investments: | Principal investments: | Principal investments: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Direct | Direct | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | Direct | — | — | 1 | 1 | — | — | 1 | 1 | ||||||||||||||||||||||||||||||||||
Indirect (measured at NAV) (a) | Indirect (measured at NAV) (a) | — | — | — | 53 | — | — | — | 53 | Indirect (measured at NAV) (a) | — | — | — | 48 | — | — | — | 53 | ||||||||||||||||||||||||||||||||||
Total principal investments | Total principal investments | 0 | 0 | 1 | 54 | 0 | 0 | 1 | 54 | Total principal investments | — | — | 1 | 49 | — | — | 1 | 54 | ||||||||||||||||||||||||||||||||||
Equity investments: | Equity investments: | Equity investments: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Direct | Direct | 11 | 0 | 9 | 20 | 0 | 0 | 13 | 13 | Direct | — | — | 9 | 9 | — | — | 13 | 13 | ||||||||||||||||||||||||||||||||||
Direct (measured at NAV) (a) | Direct (measured at NAV) (a) | — | — | — | 12 | — | — | — | 7 | Direct (measured at NAV) (a) | — | — | — | 16 | — | — | — | 7 | ||||||||||||||||||||||||||||||||||
Indirect (measured at NAV) (a) | Indirect (measured at NAV) (a) | — | — | — | 7 | — | — | — | 7 | Indirect (measured at NAV) (a) | — | — | — | 6 | — | — | — | 7 | ||||||||||||||||||||||||||||||||||
Total equity investments | Total equity investments | 11 | 0 | 9 | 39 | 0 | 0 | 13 | 27 | Total equity investments | — | — | 9 | 31 | — | — | 13 | 27 | ||||||||||||||||||||||||||||||||||
Total other investments | Total other investments | 11 | 0 | 10 | 93 | 0 | 0 | 14 | 81 | Total other investments | — | — | 10 | 80 | — | — | 14 | 81 | ||||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) | Loans, net of unearned income (residential) | 0 | 0 | 11 | 11 | 0 | 0 | 11 | 11 | Loans, net of unearned income (residential) | — | — | 10 | 10 | — | — | 11 | 11 | ||||||||||||||||||||||||||||||||||
Loans held for sale (residential) | Loans held for sale (residential) | 0 | 231 | 0 | 231 | 0 | 264 | 0 | 264 | Loans held for sale (residential) | — | 237 | — | 237 | — | 264 | — | 264 | ||||||||||||||||||||||||||||||||||
Derivative assets: | Derivative assets: | Derivative assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 0 | 1,070 | 35 | 1,105 | 0 | 1,528 | 56 | 1,584 | Interest rate | — | 920 | 34 | 954 | — | 1,528 | 56 | 1,584 | ||||||||||||||||||||||||||||||||||
Foreign exchange | Foreign exchange | $ | 65 | 22 | 0 | 87 | $ | 78 | 31 | 0 | 109 | Foreign exchange | 65 | 15 | — | 80 | $ | 78 | 31 | — | 109 | |||||||||||||||||||||||||||||||
Commodity | Commodity | 0 | 1,198 | 0 | 1,198 | 0 | 424 | 2 | 426 | Commodity | — | 1,799 | — | 1,799 | — | 424 | 2 | 426 | ||||||||||||||||||||||||||||||||||
Credit | Credit | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | Credit | — | — | — | — | — | — | 1 | 1 | ||||||||||||||||||||||||||||||||||
Other | Other | 0 | 7 | 13 | 20 | 0 | 26 | 32 | 58 | Other | — | 16 | 6 | 22 | — | 26 | 32 | 58 | ||||||||||||||||||||||||||||||||||
Derivative assets | Derivative assets | 65 | 2,297 | 49 | 2,411 | 78 | 2,009 | 91 | 2,178 | Derivative assets | 65 | 2,750 | 40 | 2,855 | 78 | 2,009 | 91 | 2,178 | ||||||||||||||||||||||||||||||||||
Netting adjustments (b) | Netting adjustments (b) | 0 | 0 | 0 | (251) | 0 | 0 | 0 | (380) | Netting adjustments (b) | — | — | — | (302) | — | — | — | (380) | ||||||||||||||||||||||||||||||||||
Total derivative assets | Total derivative assets | 65 | 2,297 | 49 | 2,160 | 78 | 2,009 | 91 | 1,798 | Total derivative assets | 65 | 2,750 | 40 | 2,553 | 78 | 2,009 | 91 | 1,798 | ||||||||||||||||||||||||||||||||||
Accrued income and other assets | Accrued income and other assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Accrued income and other assets | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||
Total assets on a recurring basis at fair value | Total assets on a recurring basis at fair value | $ | 76 | $ | 37,995 | $ | 92 | $ | 37,984 | $ | 78 | $ | 30,551 | $ | 129 | $ | 30,445 | Total assets on a recurring basis at fair value | $ | 82 | $ | 44,444 | $ | 82 | $ | 44,376 | $ | 78 | $ | 30,551 | $ | 129 | $ | 30,445 | ||||||||||||||||||
LIABILITIES MEASURED ON A RECURRING BASIS | LIABILITIES MEASURED ON A RECURRING BASIS | LIABILITIES MEASURED ON A RECURRING BASIS | ||||||||||||||||||||||||||||||||||||||||||||||||||
Bank notes and other short-term borrowings: | Bank notes and other short-term borrowings: | Bank notes and other short-term borrowings: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Short positions | Short positions | $ | 211 | $ | 512 | 0 | $ | 723 | $ | 256 | $ | 503 | 0 | $ | 759 | Short positions | $ | 212 | $ | 555 | — | $ | 767 | $ | 256 | $ | 503 | — | $ | 759 | ||||||||||||||||||||||
Derivative liabilities: | Derivative liabilities: | Derivative liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 0 | 289 | 0 | 289 | 0 | 288 | 0 | 288 | Interest rate | — | 273 | — | 273 | — | 288 | — | 288 | ||||||||||||||||||||||||||||||||||
Foreign exchange | Foreign exchange | 62 | 21 | 0 | 83 | 72 | 31 | 0 | 103 | Foreign exchange | 60 | 15 | — | 75 | 72 | 31 | — | 103 | ||||||||||||||||||||||||||||||||||
Commodity | Commodity | 0 | 1,205 | 0 | 1,205 | 0 | 408 | 0 | 408 | Commodity | — | 1,805 | — | 1,805 | — | 408 | — | 408 | ||||||||||||||||||||||||||||||||||
Credit | Credit | 0 | 2 | $ | 6 | 8 | 0 | 0 | $ | 11 | 11 | Credit | — | 1 | $ | 6 | 7 | — | — | $ | 11 | 11 | ||||||||||||||||||||||||||||||
Other | Other | 0 | 12 | 0 | 12 | 0 | 16 | 0 | 16 | Other | — | 11 | — | 11 | — | 16 | — | 16 | ||||||||||||||||||||||||||||||||||
Derivative liabilities | Derivative liabilities | 62 | 1,529 | 6 | 1,597 | 72 | 743 | 11 | 826 | Derivative liabilities | 60 | 2,105 | 6 | 2,171 | 72 | 743 | 11 | 826 | ||||||||||||||||||||||||||||||||||
Netting adjustments (b) | Netting adjustments (b) | 0 | 0 | 0 | (1,428) | 0 | 0 | 0 | (675) | Netting adjustments (b) | — | — | — | (1,911) | — | — | — | (675) | ||||||||||||||||||||||||||||||||||
Total derivative liabilities | Total derivative liabilities | 62 | 1,529 | 6 | 169 | 72 | 743 | 11 | 151 | Total derivative liabilities | 60 | 2,105 | 6 | 260 | 72 | 743 | 11 | 151 | ||||||||||||||||||||||||||||||||||
Total liabilities on a recurring basis at fair value | Total liabilities on a recurring basis at fair value | $ | 273 | $ | 2,041 | $ | 6 | $ | 892 | $ | 328 | $ | 1,246 | $ | 11 | $ | 910 | Total liabilities on a recurring basis at fair value | $ | 272 | $ | 2,660 | $ | 6 | $ | 1,027 | $ | 328 | $ | 1,246 | $ | 11 | $ | 910 |
Financial support provided | Financial support provided | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | 2021 | 2020 | 2021 | 2020 | September 30, 2021 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Fair Value | Unfunded Commitments | Funded Commitments | Funded Other | Funded Commitments | Funded Other | Funded Commitments | Funded Other | Funded Commitments | Funded Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Fair Value | Unfunded Commitments | Funded Commitments | Funded Other | Funded Commitments | Funded Other | Funded Commitments | Funded Other | Funded Commitments | Funded Other | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INVESTMENT TYPE | INVESTMENT TYPE | INVESTMENT TYPE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct investments | Direct investments | $ | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Direct investments | $ | 1 | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Indirect investments (measured at NAV) (a) | Indirect investments (measured at NAV) (a) | 53 | $ | 13 | $ | 2 | 0 | 0 | 0 | $ | 4 | 0 | $ | 0 | 0 | Indirect investments (measured at NAV) (a) | 48 | $ | 13 | $ | — | — | 1 | — | $ | 4 | — | $ | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 54 | $ | 13 | $ | 2 | 0 | 0 | 0 | $ | 4 | 0 | $ | 0 | 0 | Total | $ | 49 | $ | 13 | $ | — | — | 1 | — | $ | 4 | — | $ | 1 | — |
in millions | Beginning of Period Balance | Gains (Losses) Included in Other Comprehensive Income | Gains (Losses) Included in Earnings | Purchases | Sales | Settlements | Transfers Other | Transfers into Level 3 | Transfers out of Level 3 | End of Period Balance | Unrealized Gains (Losses) Included in Earnings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six months ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Beginning of Period Balance | Gains (Losses) Included in Other Comprehensive Income | Gains (Losses) Included in Earnings | Purchases | Sales | Settlements | Transfers Other | Transfers into Level 3 | Transfers out of Level 3 | End of Period Balance | Unrealized Gains (Losses) Included in Earnings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2021 | Nine months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale | Securities available for sale | Securities available for sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other securities | Other securities | $ | 13 | $ | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $ | 22 | 0 | Other securities | $ | 13 | $ | 9 | — | — | — | — | — | — | — | $ | 22 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other investments | Other investments | Other investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal investments | Principal investments | Principal investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | Direct (a) | 1 | — | — | — | — | — | — | — | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity investments | Equity investments | Equity investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 13 | 0 | $ | (1) | 0 | 0 | 0 | 0 | 0 | $ | (3) | 9 | $ | (1) | Direct (a) | 13 | — | $ | (1) | — | — | — | — | — | $ | (3) | 9 | $ | (1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale (residential) | Loans held for sale (residential) | 0 | 0 | 0 | 0 | $ | (1) | 0 | $ | 1 | 0 | 0 | 0 | 0 | Loans held for sale (residential) | — | — | — | — | $ | (1) | — | $ | 1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) | Loans, net of unearned income (residential) | 11 | 0 | 0 | 0 | (1) | 0 | 1 | 0 | 0 | 11 | 0 | Loans, net of unearned income (residential) | 11 | — | — | — | (2) | — | 1 | — | — | 10 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments (b) | Derivative instruments (b) | Derivative instruments (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 56 | 0 | (15) | (c) | $ | 1 | (7) | 0 | 0 | $ | 12 | (d) | (12) | (d) | 35 | 0 | Interest rate | 56 | — | (20) | (c) | $ | 1 | (7) | — | — | $ | 21 | (d) | (17) | (d) | 34 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit | Credit | (10) | 0 | 5 | (c) | 0 | 0 | 0 | 0 | 0 | 0 | (5) | 0 | Credit | (10) | — | 4 | (c) | — | — | — | — | — | — | (6) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other (e) | Other (e) | 32 | 0 | (3) | (c) | 0 | 0 | 0 | (16) | 0 | 0 | 13 | 0 | Other (e) | 32 | — | (3) | (c) | — | — | — | (23) | — | — | 6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2021 | Three months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale | Securities available for sale | Securities available for sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other securities | Other securities | $ | 22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $ | 22 | 0 | Other securities | $ | 22 | — | — | — | — | — | — | — | — | $ | 22 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other investments | Other investments | Other investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal investments | Principal investments | Principal investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | Direct (a) | 1 | — | — | — | — | — | — | — | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity investments | Equity investments | Equity investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 0 | Direct (a) | 9 | — | — | — | — | — | — | — | — | 9 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale (residential) | Loans held for sale (residential) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Loans held for sale (residential) | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) | Loans, net of unearned income (residential) | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11 | 0 | Loans, net of unearned income (residential) | 11 | — | — | — | (1) | — | — | — | — | 10 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments (b) | Derivative instruments (b) | Derivative instruments (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 30 | 0 | $ | 7 | (c) | $ | 0 | $ | (2) | 0 | 0 | $ | 5 | (d) | $ | (5) | (d) | 35 | 0 | Interest rate | 35 | — | $ | (5) | (c) | $ | 1 | $ | (1) | — | — | $ | 9 | (d) | $ | (5) | (d) | 34 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Credit | Credit | (5) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (5) | 0 | Credit | (5) | — | — | (1) | — | — | — | — | 0 | (6) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other (e) | Other (e) | 6 | 0 | 1 | (c) | 0 | 0 | 0 | $ | 6 | 0 | 0 | 13 | 0 | Other (e) | 13 | — | — | (c) | — | — | — | $ | (7) | — | — | 6 | — |
in millions | Beginning of Period Balance | Gains (Losses) Included in Other Comprehensive Income | Gains (Losses) Included in Earnings | Purchases | Sales | Settlements | Transfers Other | Transfers into Level 3 | Transfers out of Level 3 | End of Period Balance | Unrealized Gains (Losses) Included in Earnings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six months ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Beginning of Period Balance | Gains (Losses) Included in Other Comprehensive Income | Gains (Losses) Included in Earnings | Purchases | Sales | Settlements | Transfers Other | Transfers into Level 3 | Transfers out of Level 3 | End of Period Balance | Unrealized Gains (Losses) Included in Earnings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2020 | Nine months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets | Trading account assets | Trading account assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other mortgage-backed securities | Other mortgage-backed securities | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 36 | $ | 0 | $ | 36 | $ | 0 | Other mortgage-backed securities | — | — | — | — | $ | (9) | — | — | $ | 36 | — | $ | 27 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale | Securities available for sale | Securities available for sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other securities | Other securities | 11 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 0 | Other securities | $ | 11 | $ | 1 | — | — | — | — | — | — | — | 12 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other investments | Other investments | Other investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal investments | Principal investments | Principal investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | Direct (a) | 1 | — | — | — | — | — | — | — | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity investments | Equity investments | Equity investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 12 | 0 | $ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | $ | 0 | Direct (a) | 12 | — | $ | — | — | — | — | — | — | — | 12 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale (residential) | Loans held for sale (residential) | 0 | 0 | 0 | 0 | (10) | 0 | $ | 10 | 0 | 0 | 0 | 0 | Loans held for sale (residential) | — | — | — | — | (10) | — | $ | 11 | — | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) | Loans, net of unearned income (residential) | 4 | 0 | 0 | 0 | $ | (1) | 0 | 2 | 0 | 0 | 5 | 0 | Loans, net of unearned income (residential) | 4 | — | — | — | (2) | — | 6 | — | — | 8 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments (b) | Derivative instruments (b) | Derivative instruments (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 22 | 0 | 22 | (c) | 11 | (1) | 0 | 0 | $ | 62 | (d) | $ | (64) | (d) | 52 | 0 | Interest rate | 22 | — | $ | 18 | (c) | $ | 14 | (5) | — | — | $ | 98 | (d) | $ | (66) | (d) | 81 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit | Credit | (8) | 0 | (10) | (c) | $ | 1 | 0 | 0 | 0 | (17) | 0 | Credit | (8) | — | (6) | (c) | $ | 1 | — | — | — | (13) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other (e) | Other (e) | 5 | 0 | 0 | 0 | 0 | 0 | 41 | 0 | 0 | 46 | 0 | Other (e) | 5 | — | — | — | — | — | 39 | — | — | 44 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2020 | Three months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets | Trading account assets | Trading account assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other mortgage-backed securities | Other mortgage-backed securities | 0 | 0 | 0 | $ | 0 | $ | 0 | $ | 0 | 0 | $ | 36 | 0 | $ | 36 | $ | 0 | Other mortgage-backed securities | $ | 36 | — | — | — | $ | (9) | $ | — | — | $ | — | — | $ | 27 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale | Securities available for sale | Securities available for sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other securities | Other securities | $ | 9 | $ | 3 | 0 | 0 | 0 | 0 | — | 0 | — | 12 | 0 | Other securities | 12 | — | — | — | — | — | — | — | — | 12 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other investments | Other investments | Other investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal investments | Principal investments | Principal investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | Direct (a) | 1 | — | — | — | — | — | — | — | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity investments | Equity investments | Equity investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Direct (a) | Direct (a) | 10 | 0 | $ | 2 | 0 | 0 | 12 | 2 | Direct (a) | 12 | 0 | $ | — | 0 | 0 | 12 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans held for sale (residential) | Loans held for sale (residential) | 10 | 0 | 0 | 0 | $ | (10) | 0 | 0 | 0 | 0 | 0 | 0 | Loans held for sale (residential) | — | — | — | — | $ | — | — | $ | 1 | — | — | 1 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) | Loans, net of unearned income (residential) | 3 | 0 | 0 | 0 | 0 | 0 | $ | 2 | 0 | 0 | 5 | 0 | Loans, net of unearned income (residential) | 5 | — | — | — | — | — | 3 | — | — | 8 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments (b) | Derivative instruments (b) | Derivative instruments (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 96 | 0 | 3 | (c) | 0 | 7 | (d) | $ | (54) | (d) | 52 | 0 | Interest rate | 52 | 0 | $ | (3) | (c) | $ | 2 | $ | (4) | 0 | $ | 36 | (d) | $ | (2) | (d) | 81 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit | Credit | (23) | 0 | 6 | (c) | 0 | 0 | 0 | 0 | 0 | 0 | (17) | 0 | Credit | (17) | — | 4 | (c) | — | — | — | — | — | — | (13) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other (e) | Other (e) | 23 | 0 | 0 | 0 | 0 | 0 | 23 | 0 | 0 | 46 | 0 | Other (e) | 46 | — | 5 | — | 0 | — | (7) | — | 0 | 44 | — |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS MEASURED ON A NONRECURRING BASIS | ASSETS MEASURED ON A NONRECURRING BASIS | ASSETS MEASURED ON A NONRECURRING BASIS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateral-dependent loans | Collateral-dependent loans | 0 | 0 | $ | 36 | $ | 36 | 0 | 0 | $ | 108 | $ | 108 | Collateral-dependent loans | — | — | $ | 5 | $ | 5 | — | — | $ | 108 | $ | 108 | ||||||||||||||||||||||||||||||||
Accrued income and other assets | Accrued income and other assets | 0 | 0 | 101 | 101 | 0 | $ | 0 | 56 | 56 | Accrued income and other assets | — | — | 74 | 74 | — | $ | — | 56 | 56 | ||||||||||||||||||||||||||||||||||||||
Total assets on a nonrecurring basis at fair value | Total assets on a nonrecurring basis at fair value | 0 | 0 | $ | 137 | $ | 137 | 0 | 0 | $ | 164 | $ | 164 | Total assets on a nonrecurring basis at fair value | — | — | $ | 79 | $ | 79 | — | — | $ | 164 | $ | 164 |
Level 3 Asset (Liability) | Valuation Technique | Significant Unobservable Input | Range (Weighted-Average) (b), (c) | Level 3 Asset (Liability) | Valuation Technique | Significant Unobservable Input | Range (Weighted-Average) (b), (c) | |||||||||||||||||||||||||||||||||
dollars in millions | June 30, 2021 | December 31, 2020 | June 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | September 30, 2021 | December 31, 2020 | Valuation Technique | Significant Unobservable Input | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||
Recurring | Recurring | Recurring | ||||||||||||||||||||||||||||||||||||||
Securities available-for-sale: | Securities available-for-sale: | Securities available-for-sale: | ||||||||||||||||||||||||||||||||||||||
Other securities | Other securities | $ | 22 | 13 | Discounted cash flows | Discount rate | N/A (16.61%) | N/A (15.09%) | Other securities | $ | 22 | 13 | Discounted cash flows | Discount rate | N/A (16.61%) | N/A (15.09%) | ||||||||||||||||||||||||
Marketability discount | N/A (30.00%) | N/A (30.00%) | Marketability discount | N/A (30.00%) | N/A (30.00%) | |||||||||||||||||||||||||||||||||||
Volatility factor | N/A (55.00%) | N/A (44.00%) | Volatility factor | N/A (55.00%) | N/A (44.00%) | |||||||||||||||||||||||||||||||||||
Other investments:(a) | Other investments:(a) | Other investments:(a) | ||||||||||||||||||||||||||||||||||||||
Equity investments | Equity investments | Equity investments | ||||||||||||||||||||||||||||||||||||||
Direct | Direct | 9 | 13 | Discounted cash flows | Discount rate | N/A (14.15%) | 13.90 - 17.04% (15.47%) | Direct | 9 | 13 | Discounted cash flows | Discount rate | N/A (14.15%) | 13.90 - 17.04% (15.47%) | ||||||||||||||||||||||||||
Marketability discount | N/A | N/A (30.00%) | Marketability discount | N/A | N/A (30.00%) | |||||||||||||||||||||||||||||||||||
Volatility factor | N/A | N/A (52.00%) | Volatility factor | N/A | N/A (52.00%) | |||||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) | Loans, net of unearned income (residential) | 11 | 11 | Market comparable pricing | Comparability factor | 80.88 - 98.37% (94.96%) | 64.50-99.04% (94.17%) | Loans, net of unearned income (residential) | 10 | 11 | Market comparable pricing | Comparability factor | 64.50 - 97.30% (94.13%) | 64.50-99.04% (94.17%) | ||||||||||||||||||||||||||
Derivative instruments: | Derivative instruments: | Derivative instruments: | ||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 35 | 56 | Discounted cash flows | Probability of default | .02 - 100% (7.50%) | .02 - 100% (7.90%) | Interest rate | 34 | 56 | Discounted cash flows | Probability of default | .02 - 100% (16.60%) | .02 - 100% (7.90%) | ||||||||||||||||||||||||||
Internal risk rating | 1 - 19 (9.803) | 1 - 19 (9.675) | Internal risk rating | 1 - 19 (15.133) | 1 - 19 (9.675) | |||||||||||||||||||||||||||||||||||
Loss given default | 0 - 1 (.485) | 0 - 1 (.483) | Loss given default | 0 - 1 (.500) | 0 - 1 (.483) | |||||||||||||||||||||||||||||||||||
Credit (assets) | Credit (assets) | 1 | 1 | Discounted cash flows | Probability of default | .02 - 100% (3.20%) | .02 - 100% (4.70%) | Credit (assets) | — | 1 | Discounted cash flows | Probability of default | .02 - 100% (3.10%) | .02 - 100% (4.70%) | ||||||||||||||||||||||||||
Internal risk rating | 1 - 19 (9.331) | 1 - 19 (10.478) | Internal risk rating | 1 - 19 (9.024) | 1 - 19 (10.478) | |||||||||||||||||||||||||||||||||||
Loss given default | 0 - 1 (.491) | 0 - 1 (.490) | Loss given default | 0 - 1 (.498) | 0 - 1 (.490) | |||||||||||||||||||||||||||||||||||
Credit (liabilities) | Credit (liabilities) | (6) | (11) | Discounted cash flows | Probability of default | .02 - 100% (14.15%) | .02 - 100% (15.45%) | Credit (liabilities) | (6) | (11) | Discounted cash flows | Probability of default | .02 - 100% (14.91%) | .02 - 100% (15.45%) | ||||||||||||||||||||||||||
Internal risk rating | 1 - 19 (8.546) | 1 - 19 (8.555) | Internal risk rating | 1 - 19 (8.197) | 1 - 19 (8.555) | |||||||||||||||||||||||||||||||||||
Loss given default | 0 - 1 (.429) | 0 - 1 (.431) | Loss given default | 0 - 1 (.422) | 0 - 1 (.431) | |||||||||||||||||||||||||||||||||||
Other(d) | Other(d) | 13 | 32 | Discounted cash flows | Loan closing rates | 2.43 - 103.66% (86.92%) | 36.95 - 99.68% (77.51%) | Other(d) | 6 | 32 | Discounted cash flows | Loan closing rates | 5.90 - 99.70% (85.17%) | 36.95 - 99.68% (77.51%) | ||||||||||||||||||||||||||
Nonrecurring | Nonrecurring | Nonrecurring | ||||||||||||||||||||||||||||||||||||||
Collateral-dependent loans | Collateral-dependent loans | 36 | 108 | Fair value of collateral | Discount rate | 0 - 100.00% (28.00%) | 0 - 100.00% (36.00%) | Collateral-dependent loans | 5 | 108 | Fair value of collateral | Discount rate | 0 - 0.00% (0.00%) | 0 - 100.00% (36.00%) | ||||||||||||||||||||||||||
Accrued income and other assets: | Accrued income and other assets: | Accrued income and other assets: | ||||||||||||||||||||||||||||||||||||||
OREO and other Level 3 assets (e) | OREO and other Level 3 assets (e) | 13 | 16 | Appraised value | N/M | N/M | OREO and other Level 3 assets (e) | 12 | 16 | Appraised value | N/M | N/M |
June 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Carrying Amount | Level 1 | Level 2 | Level 3 | Measured at NAV | Netting Adjustment | Total | |||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Carrying Amount | Level 1 | Level 2 | Level 3 | Measured at NAV | Netting Adjustment | Total | ||||||||||||||||||||||||||||||||||||||||||||
ASSETS (by measurement category) | ASSETS (by measurement category) | ASSETS (by measurement category) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value - net income | Fair value - net income | Fair value - net income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets (b) | Trading account assets (b) | $ | 851 | $ | 0 | $ | 851 | 0 | — | — | $ | 851 | Trading account assets (b) | $ | 902 | $ | 17 | $ | 885 | — | — | — | $ | 902 | ||||||||||||||||||||||||||||
Other investments (b) | Other investments (b) | 635 | 11 | 0 | $ | 551 | $ | 73 | — | 635 | Other investments (b) | 607 | — | — | $ | 537 | $ | 70 | — | 607 | ||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) (d) | Loans, net of unearned income (residential) (d) | 11 | 0 | 0 | 11 | — | — | 11 | Loans, net of unearned income (residential) (d) | 10 | — | — | 10 | — | — | 10 | ||||||||||||||||||||||||||||||||||||
Loans held for sale (residential) (b) | Loans held for sale (residential) (b) | 231 | 0 | 231 | 0 | — | — | 231 | Loans held for sale (residential) (b) | 237 | — | 237 | — | — | — | 237 | ||||||||||||||||||||||||||||||||||||
Derivative assets - trading (b) | Derivative assets - trading (b) | 2,064 | 65 | 2,248 | 49 | — | $ | (298) | (f) | 2,064 | Derivative assets - trading (b) | 2,469 | 65 | 2,739 | 7 | — | $ | (342) | (f) | 2,469 | ||||||||||||||||||||||||||||||||
Fair value - OCI | Fair value - OCI | Fair value - OCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale (b) | Securities available for sale (b) | 34,638 | 0 | 34,616 | 22 | — | — | 34,638 | Securities available for sale (b) | 40,594 | — | 40,572 | 22 | — | — | 40,594 | ||||||||||||||||||||||||||||||||||||
Derivative assets - hedging (b)(g) | Derivative assets - hedging (b)(g) | 96 | 0 | 49 | 0 | — | 47 | (f) | 96 | Derivative assets - hedging (b)(g) | 84 | — | 45 | — | — | 39 | (f) | 84 | ||||||||||||||||||||||||||||||||||
Amortized cost | Amortized cost | Amortized cost | ||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-maturity securities (c) | Held-to-maturity securities (c) | 6,175 | 0 | 6,474 | 0 | — | — | 6,474 | Held-to-maturity securities (c) | 8,423 | — | 8,664 | — | — | — | 8,664 | ||||||||||||||||||||||||||||||||||||
Loans, net of unearned income (d) | Loans, net of unearned income (d) | 99,499 | 0 | 0 | 99,283 | — | — | 99,283 | Loans, net of unearned income (d) | 97,515 | — | — | 97,435 | — | — | 97,435 | ||||||||||||||||||||||||||||||||||||
Loans held for sale (b) | Loans held for sale (b) | 1,306 | 0 | 0 | 1,306 | — | — | 1,306 | Loans held for sale (b) | 1,568 | — | — | 1,568 | — | — | 1,568 | ||||||||||||||||||||||||||||||||||||
Other | Other | Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and other short-term investments (a) | Cash and other short-term investments (a) | 21,252 | 21,252 | 0 | 0 | — | — | 21,252 | Cash and other short-term investments (a) | 20,371 | 20,371 | — | — | — | — | 20,371 | ||||||||||||||||||||||||||||||||||||
LIABILITIES (by measurement category) | LIABILITIES (by measurement category) | LIABILITIES (by measurement category) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value - net income | Fair value - net income | Fair value - net income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - trading (b) | Derivative liabilities - trading (b) | $ | 152 | $ | 62 | $ | 1,511 | 7 | — | $ | (1,428) | (f) | $ | 152 | Derivative liabilities - trading (b) | $ | 249 | $ | 60 | $ | 2,093 | $ | 7 | — | $ | (1,911) | (f) | $ | 249 | |||||||||||||||||||||||
Fair value - OCI | Fair value - OCI | Fair value - OCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - hedging (b)(g) | Derivative liabilities - hedging (b)(g) | 17 | 0 | 17 | 0 | — | 0 | (f) | 17 | Derivative liabilities - hedging (b)(g) | 11 | — | 11 | — | — | — | (f) | 11 | ||||||||||||||||||||||||||||||||||
Amortized cost | Amortized cost | Amortized cost | ||||||||||||||||||||||||||||||||||||||||||||||||||
Time deposits (e) | Time deposits (e) | 4,557 | 0 | 4,567 | 0 | — | — | 4,567 | Time deposits (e) | 4,205 | — | 4,214 | — | — | — | 4,214 | ||||||||||||||||||||||||||||||||||||
Short-term borrowings (a) | Short-term borrowings (a) | 934 | 211 | 723 | 0 | — | — | 934 | Short-term borrowings (a) | 995 | 212 | 783 | — | — | — | 995 | ||||||||||||||||||||||||||||||||||||
Long-term debt (e) | Long-term debt (e) | 13,211 | 13,172 | 723 | 0 | — | — | 13,895 | Long-term debt (e) | 13,165 | 13,076 | 716 | — | — | — | 13,792 | ||||||||||||||||||||||||||||||||||||
Other | Other | Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits with no stated maturity (a) | Deposits with no stated maturity (a) | 141,515 | 0 | 141,515 | 0 | — | — | 141,515 | Deposits with no stated maturity (a) | 147,726 | — | 147,726 | — | — | — | 147,726 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Carrying Amount | Level 1 | Level 2 | Level 3 | Measured at NAV | Netting Adjustment | Total | |||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Carrying Amount | Level 1 | Level 2 | Level 3 | Measured at NAV | Netting Adjustment | Total | ||||||||||||||||||||||||||||||||||||||||||||
ASSETS (by measurement category) | ASSETS (by measurement category) | ASSETS (by measurement category) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value - net income | Fair value - net income | Fair value - net income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Trading account assets (b) | Trading account assets (b) | $ | 735 | 0 | $ | 735 | 0 | — | — | $ | 735 | Trading account assets (b) | $ | 735 | — | $ | 735 | — | — | — | $ | 735 | ||||||||||||||||||||||||||||||
Other investments (b) | Other investments (b) | 621 | 0 | 0 | $ | 555 | $ | 66 | — | 621 | Other investments (b) | 621 | — | — | $ | 555 | $ | 66 | — | 621 | ||||||||||||||||||||||||||||||||
Loans, net of unearned income (residential) (d) | Loans, net of unearned income (residential) (d) | 11 | 0 | 0 | 11 | — | — | 11 | Loans, net of unearned income (residential) (d) | 11 | — | — | 11 | — | — | 11 | ||||||||||||||||||||||||||||||||||||
Loans held for sale (residential) (b) | Loans held for sale (residential) (b) | 264 | 0 | 264 | 0 | — | — | 264 | Loans held for sale (residential) (b) | 264 | — | 264 | — | — | — | 264 | ||||||||||||||||||||||||||||||||||||
Derivative assets - trading (b) | Derivative assets - trading (b) | 1,676 | $ | 78 | 1,939 | 91 | — | $ | (433) | (f) | 1,675 | Derivative assets - trading (b) | 1,676 | $ | 78 | 1,939 | 91 | — | $ | (433) | (f) | 1,675 | ||||||||||||||||||||||||||||||
Fair value - OCI | Fair value - OCI | Fair value - OCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale (b) | Securities available for sale (b) | 27,556 | 0 | 27,543 | 13 | — | — | 27,556 | Securities available for sale (b) | 27,556 | — | 27,543 | 13 | — | — | 27,556 | ||||||||||||||||||||||||||||||||||||
Derivative assets - hedging (b)(g) | Derivative assets - hedging (b)(g) | 123 | 0 | 70 | 0 | — | 53 | (f) | 123 | Derivative assets - hedging (b)(g) | 123 | — | 70 | — | — | 53 | (f) | 123 | ||||||||||||||||||||||||||||||||||
Amortized cost | Amortized cost | Amortized cost | ||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-maturity securities (c) | Held-to-maturity securities (c) | 7,595 | 0 | 8,023 | 0 | — | — | 8,023 | Held-to-maturity securities (c) | 7,595 | — | 8,023 | — | — | — | 8,023 | ||||||||||||||||||||||||||||||||||||
Loans, net of unearned income (d) | Loans, net of unearned income (d) | 99,548 | 0 | 0 | 98,946 | — | — | 98,946 | Loans, net of unearned income (d) | 99,548 | — | — | 98,946 | — | — | 98,946 | ||||||||||||||||||||||||||||||||||||
Loans held for sale (b) | Loans held for sale (b) | 1,319 | 0 | 0 | 1,319 | — | — | 1,319 | Loans held for sale (b) | 1,319 | — | — | 1,319 | — | — | 1,319 | ||||||||||||||||||||||||||||||||||||
Other | Other | Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term investments - U.S. Treasury Bills (b) | Short-term investments - U.S. Treasury Bills (b) | 0 | 0 | 0 | 0 | — | — | 0 | Short-term investments - U.S. Treasury Bills (b) | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Cash and other short-term investments (a) | Cash and other short-term investments (a) | 17,285 | 17,285 | 0 | 0 | — | — | 17,285 | Cash and other short-term investments (a) | 17,285 | 17,285 | — | — | — | — | 17,285 | ||||||||||||||||||||||||||||||||||||
LIABILITIES (by measurement category) | LIABILITIES (by measurement category) | LIABILITIES (by measurement category) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value - net income | Fair value - net income | Fair value - net income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - trading (b) | Derivative liabilities - trading (b) | $ | 154 | $ | 72 | $ | 746 | $ | 11 | — | $ | (675) | (f) | $ | 154 | Derivative liabilities - trading (b) | $ | 154 | $ | 72 | $ | 746 | $ | 11 | — | $ | (675) | (f) | $ | 154 | ||||||||||||||||||||||
Fair value - OCI | Fair value - OCI | Fair value - OCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - hedging (b)(g) | Derivative liabilities - hedging (b)(g) | (3) | 0 | (3) | 0 | — | 0 | (f) | (3) | Derivative liabilities - hedging (b)(g) | (3) | — | (3) | — | — | — | (f) | (3) | ||||||||||||||||||||||||||||||||||
Amortized cost | Amortized cost | Amortized cost | ||||||||||||||||||||||||||||||||||||||||||||||||||
Time deposits (e) | Time deposits (e) | 5,743 | 0 | 5,765 | 0 | — | — | 5,765 | Time deposits (e) | 5,743 | — | 5,765 | — | — | — | 5,765 | ||||||||||||||||||||||||||||||||||||
Short-term borrowings (a) | Short-term borrowings (a) | 979 | 256 | 723 | 0 | — | — | 979 | Short-term borrowings (a) | 979 | 256 | 723 | — | — | — | 979 | ||||||||||||||||||||||||||||||||||||
Long-term debt (e) | Long-term debt (e) | 13,709 | 13,925 | 734 | 0 | — | — | 14,659 | Long-term debt (e) | 13,709 | 13,925 | 734 | — | — | — | 14,659 | ||||||||||||||||||||||||||||||||||||
Other | Other | Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits with no stated maturity (a) | Deposits with no stated maturity (a) | 129,539 | 0 | 129,539 | 0 | — | — | 129,539 | Deposits with no stated maturity (a) | 129,539 | — | 129,539 | — | — | — | 129,539 |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Amortized Cost (a) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Amortized Cost (b) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Amortized Cost (a) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Amortized Cost (b) | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | SECURITIES AVAILABLE FOR SALE | SECURITIES AVAILABLE FOR SALE | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury, agencies, and corporations | U.S. Treasury, agencies, and corporations | $ | 4,900 | 0 | $ | 14 | $ | 4,886 | $ | 1,000 | 0 | 0 | $ | 1,000 | U.S. Treasury, agencies, and corporations | $ | 8,960 | — | $ | 22 | $ | 8,938 | $ | 1,000 | — | — | $ | 1,000 | |||||||||||||||||||||||||||||||||
Agency residential collateralized mortgage obligations | Agency residential collateralized mortgage obligations | 14,374 | $ | 209 | 209 | 14,374 | 14,001 | $ | 297 | $ | 25 | 14,273 | Agency residential collateralized mortgage obligations | 16,143 | $ | 168 | 207 | 16,104 | 14,001 | $ | 297 | $ | 25 | 14,273 | |||||||||||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | Agency residential mortgage-backed securities | 4,848 | 58 | 28 | 4,878 | 2,094 | 70 | 0 | 2,164 | Agency residential mortgage-backed securities | 5,409 | 51 | 52 | 5,408 | 2,094 | 70 | — | 2,164 | |||||||||||||||||||||||||||||||||||||||||||
Agency commercial mortgage-backed securities | Agency commercial mortgage-backed securities | 10,345 | 298 | 165 | 10,478 | 9,707 | 432 | 33 | 10,106 | Agency commercial mortgage-backed securities | 10,141 | 253 | 273 | 10,121 | 9,707 | 432 | 33 | 10,106 | |||||||||||||||||||||||||||||||||||||||||||
Other securities | Other securities | 8 | 14 | 0 | 22 | 8 | 5 | 0 | 13 | Other securities | 8 | 15 | 0 | 23 | 8 | 5 | — | 13 | |||||||||||||||||||||||||||||||||||||||||||
Total securities available for sale | Total securities available for sale | $ | 34,475 | $ | 579 | $ | 416 | $ | 34,638 | $ | 26,810 | $ | 804 | $ | 58 | $ | 27,556 | Total securities available for sale | $ | 40,661 | $ | 487 | $ | 554 | $ | 40,594 | $ | 26,810 | $ | 804 | $ | 58 | $ | 27,556 | |||||||||||||||||||||||||||
HELD-TO-MATURITY SECURITIES | HELD-TO-MATURITY SECURITIES | HELD-TO-MATURITY SECURITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agency residential collateralized mortgage obligations | Agency residential collateralized mortgage obligations | $ | 2,861 | $ | 91 | 0 | $ | 2,952 | $ | 3,775 | $ | 124 | 0 | $ | 3,899 | Agency residential collateralized mortgage obligations | $ | 2,485 | $ | 69 | — | $ | 2,554 | $ | 3,775 | $ | 124 | — | $ | 3,899 | |||||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | Agency residential mortgage-backed securities | 207 | 8 | 0 | 215 | 271 | 14 | 0 | 285 | Agency residential mortgage-backed securities | 184 | 7 | — | 191 | 271 | 14 | — | 285 | |||||||||||||||||||||||||||||||||||||||||||
Agency commercial mortgage-backed securities | Agency commercial mortgage-backed securities | 3,077 | 200 | 0 | 3,277 | 3,515 | 290 | 0 | 3,805 | Agency commercial mortgage-backed securities | 2,901 | 165 | — | 3,066 | 3,515 | 290 | — | 3,805 | |||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 14 | 0 | 0 | 14 | 19 | 0 | 0 | 19 | Asset-backed securities | 2,837 | — | — | 2,837 | 19 | — | — | 19 | |||||||||||||||||||||||||||||||||||||||||||
Other securities | Other securities | 16 | 0 | 0 | 16 | 15 | 0 | 0 | 15 | Other securities | 16 | — | — | 16 | 15 | — | — | 15 | |||||||||||||||||||||||||||||||||||||||||||
Total held-to-maturity securities | Total held-to-maturity securities | $ | 6,175 | $ | 299 | 0 | $ | 6,474 | $ | 7,595 | $ | 428 | $ | 0 | $ | 8,023 | Total held-to-maturity securities | $ | 8,423 | $ | 241 | — | $ | 8,664 | $ | 7,595 | $ | 428 | $ | — | $ | 8,023 |
Duration of Unrealized Loss Position | Duration of Unrealized Loss Position | |||||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||||||||||||||||||||||||||
in millions | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | ||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | Securities available for sale: | Securities available for sale: | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S Treasury, agencies, and corporations | U.S Treasury, agencies, and corporations | $ | 4,886 | $ | 14 | 0 | 0 | $ | 4,886 | $ | 14 | U.S Treasury, agencies, and corporations | $ | 8,938 | $ | 22 | — | — | $ | 8,938 | $ | 22 | ||||||||||||||||||||||||||||||
Agency residential collateralized mortgage obligations | Agency residential collateralized mortgage obligations | 6,366 | 207 | $ | 97 | $ | 2 | 6,463 | 209 | Agency residential collateralized mortgage obligations | 7,647 | 150 | $ | 868 | $ | 57 | 8,515 | 207 | ||||||||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | Agency residential mortgage-backed securities | 2,644 | 28 | 6 | 0 | (a) | 2,650 | 28 | Agency residential mortgage-backed securities | 3,619 | 52 | 6 | — | (a) | 3,625 | 52 | ||||||||||||||||||||||||||||||||||||
Agency commercial mortgage-backed securities | Agency commercial mortgage-backed securities | 5,421 | 165 | 0 | 0 | 5,421 | 165 | Agency commercial mortgage-backed securities | 4,219 | 215 | 1,093 | 58 | 5,312 | 273 | ||||||||||||||||||||||||||||||||||||||
Held-to-maturity securities: | Held-to-maturity securities: | Held-to-maturity securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | Asset-backed securities | 9 | 0 | (a) | 1 | 0 | 10 | 0 | Asset-backed securities | 1 | — | (a) | 1 | — | 2 | — | ||||||||||||||||||||||||||||||||||||
Other securities | Other securities | 3 | 0 | (a) | 0 | 0 | (a) | 3 | 0 | Other securities | 8,460 | — | (a) | — | — | (a) | 8,460 | — | ||||||||||||||||||||||||||||||||||
Total securities in an unrealized loss position | Total securities in an unrealized loss position | $ | 19,329 | $ | 414 | $ | 104 | $ | 2 | $ | 19,433 | $ | 416 | Total securities in an unrealized loss position | $ | 32,884 | $ | 439 | $ | 1,968 | $ | 115 | $ | 34,852 | $ | 554 | ||||||||||||||||||||||||||
December 31, 2020 | December 31, 2020 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available for sale: | Securities available for sale: | Securities available for sale: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Agency residential collateralized mortgage obligations | Agency residential collateralized mortgage obligations | $ | 2,110 | $ | 25 | 0 | 0 | $ | 2,110 | $ | 25 | Agency residential collateralized mortgage obligations | $ | 2,110 | $ | 25 | — | — | $ | 2,110 | $ | 25 | ||||||||||||||||||||||||||||||
Agency residential mortgage-backed securities | Agency residential mortgage-backed securities | 6 | 0 | (b) | $ | 5 | 0 | (b) | 11 | 0 | Agency residential mortgage-backed securities | 6 | — | (b) | $ | 5 | — | (b) | 11 | — | ||||||||||||||||||||||||||||||||
Agency commercial mortgage-backed securities | Agency commercial mortgage-backed securities | 2,709 | 33 | 0 | 0 | 2,709 | 33 | Agency commercial mortgage-backed securities | 2,709 | 33 | — | — | 2,709 | 33 | ||||||||||||||||||||||||||||||||||||||
Held-to-maturity securities: | Held-to-maturity securities: | Held-to-maturity securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Agency residential collateralized mortgage obligations | Agency residential collateralized mortgage obligations | 0 | 0 | 24 | 0 | (b) | 24 | 0 | Agency residential collateralized mortgage obligations | — | — | 24 | — | (b) | 24 | — | ||||||||||||||||||||||||||||||||||||
Other securities | Other securities | 5 | 0 | (b) | 0 | 0 | 5 | 0 | Other securities | 5 | — | (b) | — | — | 5 | — | ||||||||||||||||||||||||||||||||||||
Total securities in an unrealized loss position | Total securities in an unrealized loss position | $ | 4,830 | $ | 58 | $ | 29 | 0 | $ | 4,859 | $ | 58 | Total securities in an unrealized loss position | $ | 4,830 | $ | 58 | $ | 29 | — | $ | 4,859 | $ | 58 |
June 30, 2021 | Securities Available for Sale | Held to Maturity Securities | ||||||||||||||||||||||||||
in millions | Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | Securities Available for Sale | Held to Maturity Securities | |||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||||
Due in one year or less | Due in one year or less | $ | 268 | $ | 284 | $ | 121 | $ | 122 | Due in one year or less | $ | 230 | $ | 247 | $ | 93 | $ | 95 | ||||||||||
Due after one through five years | Due after one through five years | 15,505 | 15,821 | 3,934 | 4,085 | Due after one through five years | 19,818 | 20,076 | 6,330 | 6,452 | ||||||||||||||||||
Due after five through ten years | Due after five through ten years | 14,962 | 14,923 | 2,120 | 2,267 | Due after five through ten years | 17,312 | 17,128 | 2,000 | 2,117 | ||||||||||||||||||
Due after ten years | Due after ten years | 3,740 | 3,610 | 0 | 0 | Due after ten years | 3,301 | 3,143 | — | — | ||||||||||||||||||
Total | Total | $ | 34,475 | $ | 34,638 | $ | 6,175 | $ | 6,474 | Total | $ | 40,661 | $ | 40,594 | $ | 8,423 | $ | 8,664 |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value | Fair Value | Fair Value | |||||||||||||||||||||||||||||||||||||||||||
in millions | Notional Amount | Derivative Assets | Derivative Liabilities | Notional Amount | Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Notional Amount | Derivative Assets | Derivative Liabilities | Notional Amount | Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | Derivatives designated as hedging instruments: | Derivatives designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 34,017 | $ | 49 | $ | 17 | $ | 36,135 | $ | 70 | $ | (3) | Interest rate | $ | 36,423 | $ | 45 | $ | 11 | $ | 36,135 | $ | 70 | $ | (3) | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | 74,012 | 1,056 | 272 | 78,424 | 1,514 | 291 | Interest rate | 72,688 | 909 | 262 | 78,424 | 1,514 | 291 | ||||||||||||||||||||||||||||||||
Foreign exchange | Foreign exchange | 6,142 | 87 | 83 | 6,385 | 109 | 103 | Foreign exchange | 7,378 | 80 | 75 | 6,385 | 109 | 103 | ||||||||||||||||||||||||||||||||
Commodity | Commodity | 12,928 | 1,198 | 1,205 | 9,702 | 426 | 408 | Commodity | 15,090 | 1,799 | 1,805 | 9,702 | 426 | 408 | ||||||||||||||||||||||||||||||||
Credit | Credit | 366 | 1 | 8 | 423 | 1 | 11 | Credit | 339 | — | 7 | 423 | 1 | 11 | ||||||||||||||||||||||||||||||||
Other (a) | Other (a) | 4,022 | 20 | 12 | 4,951 | 58 | 16 | Other (a) | 3,652 | 22 | 11 | 4,951 | 58 | 16 | ||||||||||||||||||||||||||||||||
Total | Total | 97,470 | 2,362 | 1,580 | 99,885 | 2,108 | 829 | Total | 99,147 | 2,810 | 2,160 | 99,885 | 2,108 | 829 | ||||||||||||||||||||||||||||||||
Netting adjustments (b) | Netting adjustments (b) | — | (251) | (1,428) | — | (380) | (675) | Netting adjustments (b) | — | (302) | (1,911) | — | (380) | (675) | ||||||||||||||||||||||||||||||||
Net derivatives in the balance sheet | Net derivatives in the balance sheet | 131,487 | 2,160 | 169 | 136,020 | 1,798 | 151 | Net derivatives in the balance sheet | 135,570 | 2,553 | 260 | 136,020 | 1,798 | 151 | ||||||||||||||||||||||||||||||||
Other collateral (c) | Other collateral (c) | 0 | (1) | (38) | 0 | (2) | (11) | Other collateral (c) | — | (1) | (30) | — | (2) | (11) | ||||||||||||||||||||||||||||||||
Net derivative amounts | Net derivative amounts | $ | 131,487 | $ | 2,159 | $ | 131 | $ | 136,020 | $ | 1,796 | $ | 140 | Net derivative amounts | $ | 135,570 | $ | 2,552 | $ | 230 | $ | 136,020 | $ | 1,796 | $ | 140 |
June 30, 2021 | September 30, 2021 | |||||||||||||||||||||
in millions | Balance sheet line item in which the hedge item is included | Carrying amount of hedged item (a) | Hedge accounting basis adjustment (b) | |||||||||||||||||||
Dollars in millions | Dollars in millions | Balance sheet line item in which the hedge item is included | Carrying amount of hedged item (a) | Hedge accounting basis adjustment (b) | ||||||||||||||||||
Interest rate contracts | Interest rate contracts | Long-term debt | $ | 8,112 | $ | 242 | Interest rate contracts | Long-term debt | $ | 8,077 | $ | 205 | ||||||||||
Interest rate contracts | Interest rate contracts | Securities Available for Sale(c) | 3,880 | 129 | Interest rate contracts | Securities Available for Sale(c) | 6,280 | 168 | ||||||||||||||
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||
Balance sheet line item in which the hedge item is included | Carrying amount of hedged item (a) | Hedge accounting basis adjustment (b) | Balance sheet line item in which the hedge item is included | Carrying amount of hedged item (a) | Hedge accounting basis adjustment (b) | |||||||||||||||||
Interest rate contracts | Interest rate contracts | Long-term debt | $ | 8,182 | $ | 416 | Interest rate contracts | Long-term debt | $ | 8,182 | $ | 416 | ||||||||||
Interest rate contracts | Interest rate contracts | Securities Available for Sale(c) | 2,080 | 21 | Interest rate contracts | Securities Available for Sale(c) | 2,080 | 21 |
Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships | Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships | |||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Interest expense – long-term debt | Interest income – loans | Interest Income - securities | Investment banking and debt placement fees | Interest expense - deposits | Other income | ||||||||||||||||||||||||||||||||||||||||||||||
Three months ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Interest expense – long-term debt | Interest income – loans | Interest Income - securities | Investment banking and debt placement fees | Interest expense - deposits | Other income | |||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2021 | Three months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total amounts presented in the consolidated statement of income | Total amounts presented in the consolidated statement of income | $ | (54) | $ | 888 | $ | 133 | $ | 217 | $ | (16) | $ | 13 | Total amounts presented in the consolidated statement of income | $ | (54) | $ | 882 | $ | 135 | $ | 235 | $ | (15) | $ | 25 | ||||||||||||||||||||||||||
Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized on hedged items | Recognized on hedged items | (31) | 0 | 158 | 0 | 0 | 0 | Recognized on hedged items | 37 | — | (38) | — | — | — | ||||||||||||||||||||||||||||||||||||||
Recognized on derivatives designated as hedging instruments | Recognized on derivatives designated as hedging instruments | 62 | 0 | (159) | 0 | 0 | 0 | Recognized on derivatives designated as hedging instruments | (8) | — | 39 | — | — | — | ||||||||||||||||||||||||||||||||||||||
Net income (expense) recognized on fair value hedges | Net income (expense) recognized on fair value hedges | $ | 31 | 0 | $ | (1) | 0 | 0 | 0 | Net income (expense) recognized on fair value hedges | $ | 29 | — | $ | 1 | — | — | — | ||||||||||||||||||||||||||||||||||
Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||||||||
Realized gains (losses) (pre-tax) reclassified from AOCI into net income | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (1) | $ | 85 | $ | 0 | $ | (1) | 0 | 0 | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (1) | $ | 79 | $ | — | $ | (1) | — | — | ||||||||||||||||||||||||||||||
Net income (expense) recognized on cash flow hedges | Net income (expense) recognized on cash flow hedges | $ | (1) | $ | 85 | 0 | $ | (1) | 0 | 0 | Net income (expense) recognized on cash flow hedges | $ | (1) | $ | 79 | — | $ | (1) | — | — | ||||||||||||||||||||||||||||||||
Three months ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2020 | Three months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total amounts presented in the consolidated statement of income | Total amounts presented in the consolidated statement of income | $ | (71) | $ | 980 | $ | 121 | $ | 156 | $ | (96) | $ | 33 | Total amounts presented in the consolidated statement of income | $ | (64) | $ | 927 | $ | 115 | $ | 146 | $ | (54) | $ | 28 | ||||||||||||||||||||||||||
Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized on hedged items | Recognized on hedged items | $ | (5) | 0 | 0 | 0 | 0 | 0 | Recognized on hedged items | $ | 47 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Recognized on derivatives designated as hedging instruments | Recognized on derivatives designated as hedging instruments | 39 | 0 | 0 | 0 | 0 | 0 | Recognized on derivatives designated as hedging instruments | (7) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Net income (expense) recognized on fair value hedges | Net income (expense) recognized on fair value hedges | $ | 34 | 0 | 0 | 0 | 0 | 0 | Net income (expense) recognized on fair value hedges | $ | 40 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||||||||
Realized gains (losses) (pre-tax) reclassified from AOCI into net income | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (1) | $ | 90 | 0 | 0 | 0 | 0 | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (1) | $ | 100 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Net income (expense) recognized on cash flow hedges | Net income (expense) recognized on cash flow hedges | $ | (1) | $ | 90 | 0 | 0 | 0 | 0 | Net income (expense) recognized on cash flow hedges | $ | (1) | $ | 100 | — | — | — | — |
Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships | Location and amount of net gains (losses) recognized in income on fair value and cash flow hedging relationships | |||||||||||||||||||||||||||||||||||||||||||||
in millions | Interest expense – long-term debt | Interest income – loans | Interest Income - Securities | Investment banking and debt placement fees | Interest expense - deposits | Other income | ||||||||||||||||||||||||||||||||||||||||
Six months ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Interest expense – long-term debt | Interest income – loans | Interest Income - Securities | Investment banking and debt placement fees | Interest expense - deposits | Other income | |||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2021 | Nine months ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||
Total amounts presented in the consolidated statement of income | Total amounts presented in the consolidated statement of income | $ | (114) | $ | 1,777 | $ | 263 | $ | 379 | $ | (37) | $ | 64 | Total amounts presented in the consolidated statement of income | $ | (168) | $ | 2,659 | $ | 398 | $ | 614 | $ | (52) | $ | 89 | ||||||||||||||||||||
Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||
Recognized on hedged items | Recognized on hedged items | 173 | 0 | (107) | 0 | 0 | 0 | Recognized on hedged items | 210 | — | (147) | — | — | — | ||||||||||||||||||||||||||||||||
Recognized on derivatives designated as hedging instruments | Recognized on derivatives designated as hedging instruments | (104) | 0 | 108 | 0 | 0 | 0 | Recognized on derivatives designated as hedging instruments | (113) | — | 147 | — | — | — | ||||||||||||||||||||||||||||||||
Net income (expense) recognized on fair value hedges | Net income (expense) recognized on fair value hedges | $ | 69 | 0 | 1 | 0 | 0 | 0 | Net income (expense) recognized on fair value hedges | $ | 97 | — | — | — | — | — | ||||||||||||||||||||||||||||||
Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||
Realized gains (losses) (pre-tax) reclassified from AOCI into net income | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (2) | $ | 173 | 0 | 1 | 0 | 0 | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (3) | $ | 253 | — | — | — | — | ||||||||||||||||||||||||||||
Net income (expense) recognized on cash flow hedges | Net income (expense) recognized on cash flow hedges | $ | (2) | $ | 173 | 0 | $ | 1 | 0 | 0 | Net income (expense) recognized on cash flow hedges | $ | (3) | $ | 253 | — | — | — | — | |||||||||||||||||||||||||||
Six months ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2020 | Nine months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||
Total amounts presented in the consolidated statement of income | Total amounts presented in the consolidated statement of income | $ | (161) | $ | 2,006 | $ | 250 | $ | 272 | $ | (265) | $ | (55) | Total amounts presented in the consolidated statement of income | $ | (225) | $ | 2,933 | $ | 365 | $ | 418 | $ | (319) | $ | (27) | ||||||||||||||||||||
Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | Net gains (losses) on fair value hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||
Recognized on hedged items | Recognized on hedged items | $ | (299) | 0 | 0 | 0 | $ | 0 | 0 | Recognized on hedged items | $ | (252) | — | — | — | — | — | |||||||||||||||||||||||||||||
Recognized on derivatives designated as hedging instruments | Recognized on derivatives designated as hedging instruments | 350 | 0 | 0 | 0 | 0 | 0 | Recognized on derivatives designated as hedging instruments | 343 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Net income (expense) recognized on fair value hedges | Net income (expense) recognized on fair value hedges | $ | 51 | 0 | 0 | 0 | $ | 0 | 0 | Net income (expense) recognized on fair value hedges | $ | 91 | — | — | — | — | — | |||||||||||||||||||||||||||||
Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | Net gain (loss) on cash flow hedging relationships | ||||||||||||||||||||||||||||||||||||||||||||
Interest contracts | Interest contracts | Interest contracts | ||||||||||||||||||||||||||||||||||||||||||||
Realized gains (losses) (pre-tax) reclassified from AOCI into net income | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (2) | $ | 124 | 0 | 0 | 0 | 0 | Realized gains (losses) (pre-tax) reclassified from AOCI into net income | $ | (3) | $ | 224 | — | — | — | — | ||||||||||||||||||||||||||||
Net income (expense) recognized on cash flow hedges | Net income (expense) recognized on cash flow hedges | $ | (2) | $ | 124 | 0 | 0 | 0 | 0 | Net income (expense) recognized on cash flow hedges | $ | (3) | $ | 224 | — | — | — | — |
in millions | Net Gains (Losses) Recognized in OCI | Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income | Net Gains (Losses) Reclassified From OCI Into Income | |||||||||||||||||||||||||
Three months ended June 30, 2021 | ||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Net Gains (Losses) Recognized in OCI | Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income | Net Gains (Losses) Reclassified From OCI Into Income | ||||||||||||||||||||||||
Three months ended September 30, 2021 | Three months ended September 30, 2021 | |||||||||||||||||||||||||||
Cash Flow Hedges | Cash Flow Hedges | Cash Flow Hedges | ||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 61 | Interest income — Loans | $ | 85 | Interest rate | $ | (2) | Interest income — Loans | $ | 79 | ||||||||||||||||
Interest rate | Interest rate | (2) | Interest expense — Long-term debt | (1) | Interest rate | — | Interest expense — Long-term debt | (1) | ||||||||||||||||||||
Interest rate | Interest rate | (4) | Investment banking and debt placement fees | (1) | Interest rate | 4 | Investment banking and debt placement fees | (1) | ||||||||||||||||||||
Total | Total | $ | 55 | $ | 83 | Total | $ | 2 | $ | 77 | ||||||||||||||||||
Three months ended June 30, 2020 | ||||||||||||||||||||||||||||
Three months ended September 30, 2020 | Three months ended September 30, 2020 | |||||||||||||||||||||||||||
Cash Flow Hedges | Cash Flow Hedges | Cash Flow Hedges | ||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 62 | Interest income — Loans | $ | 90 | Interest rate | $ | 5 | Interest income — Loans | $ | 100 | ||||||||||||||||
Interest rate | Interest rate | (1) | Interest expense — Long-term debt | (1) | Interest rate | — | Interest expense — Long-term debt | (1) | ||||||||||||||||||||
Interest rate | Interest rate | 10 | Investment banking and debt placement fees | 0 | Interest rate | 10 | Investment banking and debt placement fees | — | ||||||||||||||||||||
Total | Total | $ | 71 | $ | (89) | Total | $ | 15 | $ | 99 |
in millions | Net Gains (Losses) Recognized in OCI | Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income | Net Gains (Losses) Reclassified From OCI Into Income(a) | |||||||||||||||||||||||||
Six months ended June 30, 2021 | ||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Net Gains (Losses) Recognized in OCI | Income Statement Location of Net Gains (Losses) Reclassified From OCI Into Income | Net Gains (Losses) Reclassified From OCI Into Income(a) | ||||||||||||||||||||||||
Nine months ended September 30, 2021 | Nine months ended September 30, 2021 | |||||||||||||||||||||||||||
Cash Flow Hedges | Cash Flow Hedges | Cash Flow Hedges | ||||||||||||||||||||||||||
Interest rate | Interest rate | $ | (142) | Interest income — Loans | $ | 173 | Interest rate | $ | (144) | Interest income — Loans | $ | 253 | ||||||||||||||||
Interest rate | Interest rate | 2 | Interest expense — Long-term debt | (2) | Interest rate | 2 | Interest expense — Long-term debt | (3) | ||||||||||||||||||||
Interest rate | Interest rate | 5 | Investment banking and debt placement fees | 1 | Interest rate | 9 | Investment banking and debt placement fees | — | ||||||||||||||||||||
Net Investment Hedges | Net Investment Hedges | Net Investment Hedges | ||||||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | 0 | Other Income | 0 | Foreign exchange contracts | — | Other Income | — | ||||||||||||||||||||
Total | Total | $ | (135) | $ | 172 | Total | $ | (133) | $ | 250 | ||||||||||||||||||
Six months ended June 30, 2020 | ||||||||||||||||||||||||||||
Nine months ended September 30, 2020 | Nine months ended September 30, 2020 | |||||||||||||||||||||||||||
Cash Flow Hedges | Cash Flow Hedges | Cash Flow Hedges | ||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 624 | Interest income — Loans | $ | 124 | Interest rate | $ | 629 | Interest income — Loans | $ | 224 | ||||||||||||||||
Interest rate | Interest rate | (6) | Interest expense — Long-term debt | (2) | Interest rate | (6) | Interest expense — Long-term debt | (3) | ||||||||||||||||||||
Interest rate | Interest rate | (20) | Investment banking and debt placement fees | 0 | Interest rate | (10) | Investment banking and debt placement fees | — | ||||||||||||||||||||
Net Investment Hedges | Net Investment Hedges | Net Investment Hedges | ||||||||||||||||||||||||||
Foreign exchange contracts | Foreign exchange contracts | 0 | Other Income | 0 | Foreign exchange contracts | — | Other Income | — | ||||||||||||||||||||
Total | Total | $ | 598 | $ | 122 | Total | $ | 613 | $ | 221 |
Three months ended June 30, 2021 | Three months ended June 30, 2020 | Three months ended September 30, 2021 | Three months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Corporate services income | Consumer mortgage income | Other income | Total | Corporate services income | Consumer mortgage income | Other income | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Corporate services income | Consumer mortgage income | Other income | Total | Corporate services income | Consumer mortgage income | Other income | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET GAINS (LOSSES) | NET GAINS (LOSSES) | NET GAINS (LOSSES) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 5 | 0 | 0 | $ | 5 | $ | 7 | 0 | 0 | $ | 7 | Interest rate | $ | 8 | — | — | $ | 8 | $ | 5 | — | $ | (1) | $ | 4 | |||||||||||||||||||||||||||||||||||||||||||
Foreign exchange | Foreign exchange | 11 | 0 | 0 | 11 | 8 | 0 | 0 | 8 | Foreign exchange | 12 | — | — | 12 | 9 | — | — | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity | Commodity | 4 | 0 | 0 | 4 | 6 | 0 | 0 | 6 | Commodity | 4 | — | — | 4 | 5 | — | — | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit | Credit | (1) | 0 | $ | (9) | (10) | 6 | 0 | $ | (13) | (7) | Credit | 1 | — | $ | (9) | (8) | 4 | — | (8) | (4) | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 0 | $ | 12 | 0 | 12 | 0 | $ | 4 | 16 | 20 | Other | — | $ | — | — | — | — | $ | 28 | (8) | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total net gains (losses) | Total net gains (losses) | $ | 19 | $ | 12 | $ | (9) | $ | 22 | $ | 27 | $ | 4 | $ | 3 | $ | 34 | Total net gains (losses) | $ | 25 | $ | — | $ | (9) | $ | 16 | $ | 23 | $ | 28 | $ | (17) | $ | 34 |
Six months ended June 30, 2021 | Six months ended June 30, 2020 | Nine months ended September 30, 2021 | Nine months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Corporate services income | Consumer mortgage income | Other income | Total | Corporate services income | Consumer mortgage income | Other income | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Corporate services income | Consumer mortgage income | Other income | Total | Corporate services income | Consumer mortgage income | Other income | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET GAINS (LOSSES) | NET GAINS (LOSSES) | NET GAINS (LOSSES) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | Interest rate | $ | 11 | 0 | 0 | $ | 11 | $ | 18 | $ | 0 | $ | (9) | $ | 9 | Interest rate | $ | 19 | — | $ | 1 | $ | 20 | $ | 23 | — | $ | (10) | $ | 13 | ||||||||||||||||||||||||||||||||||||||||
Foreign exchange | Foreign exchange | 23 | 0 | 0 | 23 | 20 | 0 | 0 | 20 | Foreign exchange | 34 | — | — | 34 | 29 | — | — | 29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity | Commodity | 8 | 0 | 0 | 8 | 8 | 0 | 0 | 8 | Commodity | 12 | — | — | 12 | 13 | — | — | 13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit | Credit | 4 | 0 | $ | (18) | (14) | (10) | 0 | (12) | (22) | Credit | 5 | — | (27) | (22) | (6) | — | (20) | (26) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 0 | $ | 13 | (22) | (9) | 0 | 8 | 25 | 33 | Other | — | $ | 13 | (22) | (9) | — | $ | 36 | 17 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total net gains (losses) | Total net gains (losses) | $ | 46 | $ | 13 | $ | (40) | $ | 19 | $ | 36 | $ | 8 | $ | 4 | $ | 48 | Total net gains (losses) | $ | 70 | $ | 13 | $ | (48) | $ | 35 | $ | 59 | $ | 36 | $ | (13) | $ | 82 |
in millions | June 30, 2021 | December 31, 2020 | ||||||||||||||
Dollars in millions | Dollars in millions | September 30, 2021 | December 31, 2020 | |||||||||||||
Interest rate | Interest rate | $ | 985 | $ | 1,448 | Interest rate | $ | 838 | $ | 1,448 | ||||||
Foreign exchange | Foreign exchange | 46 | 52 | Foreign exchange | 38 | 52 | ||||||||||
Commodity | Commodity | 1,046 | 178 | Commodity | 1,606 | 178 | ||||||||||
Credit | Credit | 0 | (1) | Credit | — | (1) | ||||||||||
Other | Other | 20 | 58 | Other | 22 | 58 | ||||||||||
Derivative assets before collateral | Derivative assets before collateral | 2,097 | 1,735 | Derivative assets before collateral | 2,504 | 1,735 | ||||||||||
Plus(Less): Related collateral | Plus(Less): Related collateral | 63 | 63 | Plus(Less): Related collateral | 49 | 63 | ||||||||||
Total derivative assets | Total derivative assets | $ | 2,160 | $ | 1,798 | Total derivative assets | $ | 2,553 | $ | 1,798 |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||
dollars in millions | Notional Amount | Average Term (Years) | Payment / Performance Risk | Notional Amount | Average Term (Years) | Payment / Performance Risk | ||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Notional Amount | Average Term (Years) | Payment / Performance Risk | Notional Amount | Average Term (Years) | Payment / Performance Risk | |||||||||||||||||||||||||||||||||||||||
Other | Other | $ | 160 | 12.74 | 18.14 | % | $ | 227 | 12.76 | 19.53 | % | Other | $ | 146 | 13.04 | 17.88 | % | $ | 227 | 12.76 | 19.53 | % | ||||||||||||||||||||||||
Total credit derivatives sold | Total credit derivatives sold | $ | 160 | — | 0 | $ | 227 | — | 0 | Total credit derivatives sold | $ | 146 | — | — | $ | 227 | — | — |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||
in millions | Moody’s | S&P | Moody’s | S&P | ||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Moody’s | S&P | Moody’s | S&P | |||||||||||||||||||||||||||||
KeyBank’s long-term senior unsecured credit ratings | KeyBank’s long-term senior unsecured credit ratings | A3 | A- | A3 | A- | KeyBank’s long-term senior unsecured credit ratings | A3 | A- | A3 | A- | ||||||||||||||||||||||||
One rating downgrade | One rating downgrade | $ | 1 | $ | 1 | $ | 1 | $ | 1 | One rating downgrade | $ | 2 | $ | 2 | $ | 1 | $ | 1 | ||||||||||||||||
Two rating downgrades | Two rating downgrades | 2 | 2 | 1 | 1 | Two rating downgrades | 3 | 3 | 1 | 1 | ||||||||||||||||||||||||
Three rating downgrades | Three rating downgrades | 2 | 2 | 1 | 1 | Three rating downgrades | 3 | 3 | 1 | 1 |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
in millions | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
Balance at beginning of period | Balance at beginning of period | $ | 588 | $ | 543 | $ | 578 | $ | 539 | Balance at beginning of period | $ | 600 | $ | 565 | $ | 578 | $ | 539 | ||||||||||||||||
Servicing retained from loan sales | Servicing retained from loan sales | 28 | 53 | 57 | 77 | Servicing retained from loan sales | 31 | 30 | 88 | 107 | ||||||||||||||||||||||||
Purchases | Purchases | 7 | 7 | 14 | 18 | Purchases | 8 | 6 | 22 | 24 | ||||||||||||||||||||||||
Amortization | Amortization | (30) | (30) | (59) | (59) | Amortization | (30) | (29) | (89) | (88) | ||||||||||||||||||||||||
Temporary (impairments) recoveries | Temporary (impairments) recoveries | 7 | (8) | 10 | (10) | Temporary (impairments) recoveries | — | (6) | 10 | (16) | ||||||||||||||||||||||||
Balance at end of period | Balance at end of period | $ | 600 | $ | 565 | $ | 600 | $ | 565 | Balance at end of period | $ | 609 | $ | 566 | $ | 609 | $ | 566 | ||||||||||||||||
Fair value at end of period | Fair value at end of period | $ | 704 | $ | 663 | $ | 704 | $ | 663 | Fair value at end of period | $ | 735 | $ | 685 | $ | 735 | $ | 685 |
dollars in millions | dollars in millions | June 30, 2021 | June 30, 2020 | dollars in millions | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
Valuation Technique | Valuation Technique | Significant Unobservable Input | Range | Weighted Average | Range | Weighted Average | Valuation Technique | Significant Unobservable Input | Range | Weighted Average | Range | Weighted Average | ||||||||||||||||||||||||||||||||||||||||
Discounted cash flow | Discounted cash flow | Expected defaults | 1.01 | % | 2.00 | % | 1.16 | % | 1.00 | % | 2.00 | % | 1.15 | % | Discounted cash flow | Expected defaults | 1.00 | % | 2.00 | % | 1.15 | % | 1.00 | % | 2.00 | % | 1.17 | % | ||||||||||||||||||||||||
Residual cash flows discount rate | 7.48 | % | 10.53 | % | 9.24 | % | 6.97 | % | 16.16 | % | 9.42 | % | Residual cash flows discount rate | 7.64 | % | 10.49 | % | 9.31 | % | 7.72 | % | 10.66 | % | 9.30 | % | |||||||||||||||||||||||||||
Escrow earn rate | 1.14 | % | 1.26 | % | 1.19 | % | 0.78 | % | 2.25 | % | 1.66 | % | Escrow earn rate | 1.04 | % | 1.37 | % | 1.04 | % | 0.92 | % | 1.16 | % | 1.05 | % | |||||||||||||||||||||||||||
Loan assumption rate | 0 | % | 1.73 | % | 1.43 | % | 0 | % | 3.37 | % | 1.32 | % | Loan assumption rate | — | % | 1.71 | % | 1.40 | % | — | % | 1.78 | % | 1.39 | % |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
in millions | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
Balance at beginning of period | Balance at beginning of period | $ | 72 | $ | 40 | $ | 58 | $ | 46 | Balance at beginning of period | $ | 77 | $ | 46 | $ | 58 | $ | 46 | ||||||||||||||||
Servicing retained from loan sales | Servicing retained from loan sales | 12 | 8 | 23 | 13 | Servicing retained from loan sales | 9 | 12 | 32 | 25 | ||||||||||||||||||||||||
Purchases | Purchases | 0 | 0 | 0 | 0 | Purchases | — | — | — | — | ||||||||||||||||||||||||
Amortization | Amortization | (5) | (3) | (10) | (5) | Amortization | (4) | (4) | (14) | (9) | ||||||||||||||||||||||||
Temporary (impairments) recoveries | Temporary (impairments) recoveries | (2) | 1 | 6 | (8) | Temporary (impairments) recoveries | 3 | (1) | 9 | (9) | ||||||||||||||||||||||||
Balance at end of period | Balance at end of period | $ | 77 | $ | 46 | $ | 77 | $ | 46 | Balance at end of period | $ | 85 | $ | 53 | $ | 85 | $ | 53 | ||||||||||||||||
Fair value at end of period | Fair value at end of period | $ | 81 | $ | 46 | $ | 81 | $ | 46 | Fair value at end of period | $ | 89 | $ | 54 | $ | 89 | $ | 54 |
June 30, 2021 | June 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
Valuation Technique | Valuation Technique | Significant Unobservable Input | Range | Weighted Average | Range | Weighted Average | Valuation Technique | Significant Unobservable Input | Range | Weighted Average | Range | Weighted Average | ||||||||||||||||||||||||||||||||||||||||
Discounted cash flow | Discounted cash flow | Prepayment speed | 7.70 | % | 52.85 | % | 13.27 | % | 12.29 | % | 55.18 | % | 16.89 | % | Discounted cash flow | Prepayment speed | 8.03 | % | 48.88 | % | 11.67 | % | 12.35 | % | 53.36 | % | 16.89 | % | ||||||||||||||||||||||||
Discount rate | 7.50 | % | 8.60 | % | 7.54 | % | 7.55 | % | 9.27 | % | 7.64 | % | Discount rate | 7.50 | % | 8.57 | % | 7.54 | % | 7.51 | % | 8.80 | % | 7.57 | % | |||||||||||||||||||||||||||
Servicing cost | $62.00 | 5,125 | 70.00 | $ | 62.00 | 5,135 | 77.45 | Servicing cost | $ | 62.00 | $ | 4,375 | $ | 68.15 | $ | 62.00 | $ | 5,125 | $ | 81.67 |
Three months ended June 30, | Six months ended June 30, | Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||
in millions | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||
Sales-type and direct financing leases | Sales-type and direct financing leases | Sales-type and direct financing leases | ||||||||||||||||||||||||||||||||
Interest income on lease receivable | Interest income on lease receivable | $ | 23 | $ | 27 | $ | 46 | $ | 55 | Interest income on lease receivable | $ | 13 | $ | 36 | $ | 59 | $ | 91 | ||||||||||||||||
Interest income related to accretion of unguaranteed residual asset | Interest income related to accretion of unguaranteed residual asset | 1 | 3 | 3 | 6 | Interest income related to accretion of unguaranteed residual asset | 9 | (7) | 12 | (1) | ||||||||||||||||||||||||
Total sales-type and direct financing lease income | Total sales-type and direct financing lease income | 24 | 30 | 49 | 61 | Total sales-type and direct financing lease income | 22 | 29 | 71 | 90 | ||||||||||||||||||||||||
Operating leases | Operating leases | Operating leases | ||||||||||||||||||||||||||||||||
Operating lease income related to lease payments | Operating lease income related to lease payments | 32 | 35 | 64 | 69 | Operating lease income related to lease payments | 31 | 34 | 95 | 103 | ||||||||||||||||||||||||
Other operating leasing gains | Other operating leasing gains | 4 | 25 | 10 | 21 | Other operating leasing gains | 6 | 4 | 16 | 25 | ||||||||||||||||||||||||
Total operating lease income and other leasing gains | Total operating lease income and other leasing gains | 36 | 60 | 74 | 90 | Total operating lease income and other leasing gains | 36 | 38 | 111 | 128 | ||||||||||||||||||||||||
Total lease income | Total lease income | $ | 60 | $ | 90 | $ | 123 | $ | 151 | Total lease income | $ | 58 | $ | 67 | $ | 182 | $ | 218 |
Unconsolidated VIEs | |||||||||||
Dollars in millions | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
September 30, 2021 | |||||||||||
LIHTC investments | $ | 7,389 | $ | 2,861 | $ | 1,882 | |||||
December 31, 2020 | |||||||||||
LIHTC investments | $ | 6,914 | $ | 2,765 | $ | 1,823 |
Unconsolidated VIEs | |||||||||||
Dollars in millions | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
September 30, 2021 | |||||||||||
Indirect investments | $ | 10,199 | $ | 189 | $ | 61 | |||||
December 31, 2020 | |||||||||||
Indirect investments | $ | 10,899 | $ | 168 | $ | 78 |
Other unconsolidated VIEs | ||||||||
Dollars in millions | Total Assets | Total Liabilities | ||||||
September 30, 2021 | ||||||||
Other unconsolidated VIEs | $ | 3,166 | $ | 1 | ||||
December 31, 2020 | ||||||||
Other unconsolidated VIEs | $ | 351 | $ | 1 |
in millions | Consumer Bank | Commercial Bank | Total | ||||||||
BALANCE AT JUNE 30, 2020 | $ | 1,752 | $ | 912 | $ | 2,664 | |||||
BALANCE AT BALANCE AT DECEMBER 31, 2020 | $ | 1,752 | $ | 912 | $ | 2,664 | |||||
AQN Strategies acquisition | 9 | 0 | 9 | ||||||||
BALANCE AT JUNE 30, 2021 | $ | 1,761 | $ | 912 | $ | 2,673 | |||||
Dollars in millions | Consumer Bank | Commercial Bank | Total | ||||||||
BALANCE AT SEPTEMBER 30, 2020 | $ | 1,752 | $ | 912 | $ | 2,664 | |||||
BALANCE AT BALANCE AT DECEMBER 31, 2020 | $ | 1,752 | $ | 912 | $ | 2,664 | |||||
AQN Strategies acquisition | 9 | — | 9 | ||||||||
BALANCE AT SEPTEMBER 30, 2021 | $ | 1,761 | $ | 912 | $ | 2,673 | |||||
Unconsolidated VIEs | |||||||||||
in millions | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
June 30, 2021 | |||||||||||
LIHTC investments | $ | 6,599 | $ | 2,232 | $ | 1,885 | |||||
December 31, 2020 | |||||||||||
LIHTC investments | $ | 6,914 | $ | 2,765 | $ | 1,823 |
Unconsolidated VIEs | |||||||||||
in millions | Total Assets | Total Liabilities | Maximum Exposure to Loss | ||||||||
June 30, 2021 | |||||||||||
Indirect investments | $ | 10,828 | $ | 179 | $ | 66 | |||||
December 31, 2020 | |||||||||||
Indirect investments | $ | 10,899 | $ | 168 | $ | 78 |
June 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
in millions | Gross Amount Presented in Balance Sheet | Netting Adjustments (a) | Collateral (b) | Net Amounts | Gross Amount Presented in Balance Sheet | Netting Adjustments (a) | Collateral (b) | Net Amounts | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Gross Amount Presented in Balance Sheet | Netting Adjustments (a) | Collateral (b) | Net Amounts | Gross Amount Presented in Balance Sheet | Netting Adjustments (a) | Collateral (b) | Net Amounts | |||||||||||||||||||||||||||||||||||||||||||||||||
Offsetting of financial assets: | Offsetting of financial assets: | Offsetting of financial assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse repurchase agreements | Reverse repurchase agreements | $ | 5 | $ | (5) | 0 | 0 | $ | 6 | $ | (6) | 0 | 0 | Reverse repurchase agreements | $ | 11 | $ | (11) | — | — | $ | 6 | $ | (6) | — | — | ||||||||||||||||||||||||||||||||
Securities borrowed | Securities borrowed | 500 | 0 | (500) | 0 | 500 | 0 | $ | (500) | 0 | Securities borrowed | $ | 500 | $ | — | $ | (500) | — | $ | 500 | $ | — | $ | (500) | — | |||||||||||||||||||||||||||||||||
Total | Total | $ | 505 | $ | (5) | (500) | 0 | $ | 506 | $ | (6) | $ | (500) | 0 | Total | $ | 511 | $ | (11) | $ | (500) | — | $ | 506 | $ | (6) | $ | (500) | — | |||||||||||||||||||||||||||||
Offsetting of financial liabilities: | Offsetting of financial liabilities: | Offsetting of financial liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase agreements (c) | Repurchase agreements (c) | $ | 211 | $ | (5) | $ | (206) | 0 | $ | 220 | $ | (6) | $ | (214) | 0 | Repurchase agreements (c) | $ | 229 | $ | (11) | $ | (218) | — | $ | 220 | $ | (6) | $ | (214) | — | ||||||||||||||||||||||||||||
Total | Total | $ | 211 | $ | (5) | $ | (206) | 0 | $ | 220 | $ | (6) | $ | (214) | 0 | Total | $ | 229 | $ | (11) | $ | (218) | — | $ | 220 | $ | (6) | $ | (214) | — |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||
in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||
Interest cost on PBO | $ | 6 | $ | 8 | $ | 12 | $ | 17 | |||||||||
Expected return on plan assets | (7) | (9) | (14) | (19) | |||||||||||||
Amortization of losses | 4 | 4 | 9 | 8 | |||||||||||||
Settlement loss | 0 | 4 | 0 | 8 | |||||||||||||
Net pension cost | $ | 3 | $ | 7 | $ | 7 | $ | 14 | |||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
Dollars in millions | 2021 | 2020 | 2021 | 2020 | |||||||||||||
Interest cost on PBO | $ | 6 | $ | 9 | $ | 18 | $ | 26 | |||||||||
Expected return on plan assets | (7) | (10) | (21) | (29) | |||||||||||||
Amortization of losses | 5 | 5 | 14 | 13 | |||||||||||||
Settlement loss | 7 | — | 7 | 8 | |||||||||||||
Net pension cost | $ | 11 | $ | 4 | $ | 18 | $ | 18 | |||||||||
dollars in millions | Trust Preferred Securities, Net of Discount (a) | Common Stock | Principal Amount of Debentures, Net of Discount (b) | Interest Rate of Trust Preferred Securities and Debentures (c) | Maturity of Trust Preferred Securities and Debentures | |||||||||||||||||||||||||||||
June 30, 2021 | ||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Trust Preferred Securities, Net of Discount (a) | Common Stock | Principal Amount of Debentures, Net of Discount (b) | Interest Rate of Trust Preferred Securities and Debentures (c) | Maturity of Trust Preferred Securities and Debentures | ||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||
KeyCorp Capital I | KeyCorp Capital I | $ | 156 | $ | 6 | $ | 162 | 0.942 | % | 2028 | KeyCorp Capital I | $ | 156 | $ | 6 | $ | 162 | 0.885 | % | 2028 | ||||||||||||||
KeyCorp Capital II | KeyCorp Capital II | 138 | 4 | 142 | 6.875 | 2029 | KeyCorp Capital II | 101 | 4 | 105 | 6.875 | 2029 | ||||||||||||||||||||||
KeyCorp Capital III | KeyCorp Capital III | 106 | 4 | 110 | 7.750 | 2029 | KeyCorp Capital III | 140 | 4 | 144 | 7.750 | 2029 | ||||||||||||||||||||||
HNC Statutory Trust III | HNC Statutory Trust III | 20 | 1 | 21 | 1.550 | 2035 | HNC Statutory Trust III | 20 | 1 | 21 | 1.531 | 2035 | ||||||||||||||||||||||
Willow Grove Statutory Trust I | Willow Grove Statutory Trust I | 19 | 1 | 20 | 1.466 | 2036 | Willow Grove Statutory Trust I | 20 | 1 | 21 | 1.409 | 2036 | ||||||||||||||||||||||
HNC Statutory Trust IV | HNC Statutory Trust IV | 17 | 1 | 18 | 1.429 | 2037 | HNC Statutory Trust IV | 17 | 1 | 18 | 1.426 | 2037 | ||||||||||||||||||||||
Westbank Capital Trust II | Westbank Capital Trust II | 8 | 0 | 8 | 2.325 | 2034 | Westbank Capital Trust II | 8 | — | 8 | 2.312 | 2034 | ||||||||||||||||||||||
Westbank Capital Trust III | Westbank Capital Trust III | 8 | 0 | 8 | 2.325 | 2034 | Westbank Capital Trust III | 8 | — | 8 | 2.312 | 2034 | ||||||||||||||||||||||
Total | Total | $ | 472 | $ | 17 | $ | 489 | 4.315 | % | — | Total | $ | 470 | $ | 17 | $ | 486 | 4.343 | % | — | ||||||||||||||
December 31, 2020 | December 31, 2020 | $ | 483 | $ | 17 | $ | 500 | 4.464 | % | — | December 31, 2020 | $ | 483 | $ | 17 | $ | 500 | 4.464 | % | — |
June 30, 2021 | Maximum Potential Undiscounted Future Payments | Liability Recorded | ||||||
in millions | ||||||||
Financial guarantees: | ||||||||
Standby letters of credit | $ | 3,304 | $ | 72 | ||||
Recourse agreement with FNMA | 5,999 | 24 | ||||||
Residential mortgage reserve | 2,850 | 12 | ||||||
Written put options (a) | 3,756 | 34 | ||||||
Total | $ | 15,909 | $ | 142 | ||||
September 30, 2021 | Maximum Potential Undiscounted Future Payments | Liability Recorded | ||||||
Dollars in millions | ||||||||
Financial guarantees: | ||||||||
Standby letters of credit | $ | 3,463 | $ | 83 | ||||
Recourse agreement with FNMA | 6,272 | 25 | ||||||
Residential mortgage reserve | 2,972 | 14 | ||||||
Written put options (a) | 3,835 | 57 | ||||||
Total | $ | 16,542 | $ | 179 | ||||
in millions | Unrealized gains (losses) on securities available for sale | Unrealized gains (losses) on derivative financial instruments | Foreign currency translation adjustment | Net pension and postretirement benefit costs | Total | |||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Unrealized gains (losses) on securities available for sale | Unrealized gains (losses) on derivative financial instruments | Net pension and postretirement benefit costs | Total | |||||||||||||||||||||||||||||
Balance at December 31, 2020 | Balance at December 31, 2020 | $ | 567 | $ | 476 | 0 | $ | (305) | $ | 738 | Balance at December 31, 2020 | $ | 567 | $ | 476 | $ | (305) | $ | 738 | |||||||||||||||
Other comprehensive income before reclassification, net of income taxes | Other comprehensive income before reclassification, net of income taxes | (443) | (20) | 0 | (1) | (464) | Other comprehensive income before reclassification, net of income taxes | (617) | 11 | (2) | (608) | |||||||||||||||||||||||
Amounts reclassified from AOCI, net of income taxes (a) | Amounts reclassified from AOCI, net of income taxes (a) | 0 | (131) | 0 | 7 | (124) | Amounts reclassified from AOCI, net of income taxes (a) | — | (191) | 16 | (175) | |||||||||||||||||||||||
Net current-period other comprehensive income, net of income taxes | Net current-period other comprehensive income, net of income taxes | (443) | (151) | 0 | 6 | (588) | Net current-period other comprehensive income, net of income taxes | (617) | (180) | 14 | (783) | |||||||||||||||||||||||
Balance at September 30, 2021 | Balance at September 30, 2021 | $ | (50) | $ | 296 | $ | (291) | $ | (45) | |||||||||||||||||||||||||
Balance at June 30, 2021 | Balance at June 30, 2021 | $ | 124 | $ | 325 | 0 | $ | (299) | $ | 150 | Balance at June 30, 2021 | $ | 124 | $ | 325 | $ | (299) | $ | 150 | |||||||||||||||
Balance at March 31, 2021 | $ | (61) | $ | 466 | 0 | $ | (302) | $ | 103 | |||||||||||||||||||||||||
Other comprehensive income before reclassification, net of income taxes | Other comprehensive income before reclassification, net of income taxes | 185 | (78) | 0 | 0 | 107 | Other comprehensive income before reclassification, net of income taxes | (174) | 30 | (1) | (145) | |||||||||||||||||||||||
Amounts reclassified from AOCI, net of income taxes (a) | Amounts reclassified from AOCI, net of income taxes (a) | 0 | (63) | 0 | 3 | (60) | Amounts reclassified from AOCI, net of income taxes (a) | — | (59) | 9 | (50) | |||||||||||||||||||||||
Net current-period other comprehensive income, net of income taxes | Net current-period other comprehensive income, net of income taxes | 185 | (141) | 0 | 3 | 47 | Net current-period other comprehensive income, net of income taxes | (174) | (29) | 8 | (195) | |||||||||||||||||||||||
Balance at June 30, 2021 | $ | 124 | $ | 325 | 0 | $ | (299) | $ | 150 | |||||||||||||||||||||||||
Balance at September 30, 2021 | Balance at September 30, 2021 | $ | (50) | $ | 296 | $ | (291) | $ | (45) | |||||||||||||||||||||||||
Balance at December 31, 2019 | Balance at December 31, 2019 | $ | 115 | $ | 250 | 0 | $ | (339) | $ | 26 | Balance at December 31, 2019 | $ | 115 | $ | 250 | $ | (339) | $ | 26 | |||||||||||||||
Other comprehensive income before reclassification, net of income taxes | Other comprehensive income before reclassification, net of income taxes | 538 | 456 | 0 | 0 | 994 | Other comprehensive income before reclassification, net of income taxes | 530 | 467 | (1) | 996 | |||||||||||||||||||||||
Amounts reclassified from AOCI, net of income taxes (a) | Amounts reclassified from AOCI, net of income taxes (a) | (3) | (93) | 0 | 12 | (84) | Amounts reclassified from AOCI, net of income taxes (a) | (3) | (168) | 16 | (155) | |||||||||||||||||||||||
Net current-period other comprehensive income, net of income taxes | Net current-period other comprehensive income, net of income taxes | 535 | 363 | 0 | 12 | 910 | Net current-period other comprehensive income, net of income taxes | 527 | 299 | 15 | 841 | |||||||||||||||||||||||
Balance at September 30, 2020 | Balance at September 30, 2020 | $ | 642 | $ | 549 | $ | (324) | $ | 867 | |||||||||||||||||||||||||
Balance at June 30, 2020 | Balance at June 30, 2020 | $ | 650 | $ | 613 | 0 | $ | (327) | $ | 936 | Balance at June 30, 2020 | $ | 650 | $ | 613 | $ | (327) | $ | 936 | |||||||||||||||
Balance at March 31, 2020 | $ | 520 | $ | 627 | 0 | $ | (333) | $ | 814 | |||||||||||||||||||||||||
Other comprehensive income before reclassification, net of income taxes | Other comprehensive income before reclassification, net of income taxes | 130 | 54 | 0 | 0 | 184 | Other comprehensive income before reclassification, net of income taxes | (8) | 11 | (1) | 2 | |||||||||||||||||||||||
Amounts reclassified from AOCI, net of income taxes (a) | Amounts reclassified from AOCI, net of income taxes (a) | 0 | (68) | 0 | 6 | (62) | Amounts reclassified from AOCI, net of income taxes (a) | — | (75) | 4 | (71) | |||||||||||||||||||||||
Net current-period other comprehensive income, net of income taxes | Net current-period other comprehensive income, net of income taxes | 130 | (14) | 0 | 6 | 122 | Net current-period other comprehensive income, net of income taxes | (8) | (64) | 3 | (69) | |||||||||||||||||||||||
Balance at June 30, 2020 | $ | 650 | $ | 613 | 0 | $ | (327) | $ | 936 | |||||||||||||||||||||||||
Balance at September 30, 2020 | Balance at September 30, 2020 | $ | 642 | $ | 549 | $ | (324) | $ | 867 |
Three months ended June 30, | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||
in millions | 2021 | 2020 | |||||||||
Unrealized gains (losses) on derivative financial instruments | |||||||||||
Interest rate | $ | 85 | $ | 90 | Interest income — Loans | ||||||
Interest rate | (1) | (1) | Interest expense — Long-term debt | ||||||||
Interest rate | (1) | 0 | Investment banking and debt placement fees | ||||||||
83 | 89 | Income (loss) from continuing operations before income taxes | |||||||||
20 | 21 | Income taxes | |||||||||
$ | 63 | $ | 68 | Income (loss) from continuing operations | |||||||
Net pension and postretirement benefit costs | |||||||||||
Amortization of losses | $ | (4) | $ | (4) | Other expense | ||||||
Settlement loss | 0 | (4) | Other expense | ||||||||
(4) | (8) | Income (loss) from continuing operations before income taxes | |||||||||
(1) | (2) | Income taxes | |||||||||
$ | (3) | $ | (6) | Income (loss) from continuing operations | |||||||
Three months ended September 30, | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||
Dollars in millions | 2021 | 2020 | |||||||||
Unrealized gains (losses) on derivative financial instruments | |||||||||||
Interest rate | $ | 79 | $ | 100 | Interest income — Loans | ||||||
Interest rate | (1) | (1) | Interest expense — Long-term debt | ||||||||
Interest rate | (1) | — | Investment banking and debt placement fees | ||||||||
77 | 99 | Income (loss) from continuing operations before income taxes | |||||||||
18 | 24 | Income taxes | |||||||||
$ | 59 | $ | 75 | Income (loss) from continuing operations | |||||||
Net pension and postretirement benefit costs | |||||||||||
Amortization of losses | $ | (5) | $ | (5) | Other expense | ||||||
Settlement loss | (7) | — | Other expense | ||||||||
(12) | (5) | Income (loss) from continuing operations before income taxes | |||||||||
(3) | (1) | Income taxes | |||||||||
$ | (9) | $ | (4) | Income (loss) from continuing operations | |||||||
Six months ended June 30, | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||
in millions | 2021 | 2020 | |||||||||
Unrealized gains (losses) on available for sale securities | |||||||||||
Realized gains | 0 | $ | 4 | Other income | |||||||
0 | 4 | Income (loss) from continuing operations before income taxes | |||||||||
0 | 1 | Income taxes | |||||||||
0 | $ | 3 | Income (loss) from continuing operations | ||||||||
Unrealized gains (losses) on derivative financial instruments | |||||||||||
Interest rate | $ | 173 | $ | 124 | Interest income — Loans | ||||||
Interest rate | (2) | (2) | Interest expense — Long-term debt | ||||||||
Interest rate | 1 | 0 | Investment banking and debt placement fees | ||||||||
172 | 122 | Income (loss) from continuing operations before income taxes | |||||||||
41 | 29 | Income taxes | |||||||||
$ | 131 | $ | 93 | Income (loss) from continuing operations | |||||||
Net pension and postretirement benefit costs | |||||||||||
Amortization of losses | $ | (9) | $ | (8) | Other expense | ||||||
Settlement loss | 0 | (8) | Other expense | ||||||||
(9) | (16) | Income (loss) from continuing operations before income taxes | |||||||||
(2) | (4) | Income taxes | |||||||||
$ | (7) | $ | (12) | Income (loss) from continuing operations | |||||||
Nine months ended September 30, | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||
Dollars in millions | 2021 | 2020 | |||||||||
Unrealized gains (losses) on available for sale securities | |||||||||||
Realized gains | — | $ | 4 | Other income | |||||||
— | 4 | Income (loss) from continuing operations before income taxes | |||||||||
— | 1 | Income taxes | |||||||||
— | $ | 3 | Income (loss) from continuing operations | ||||||||
Unrealized gains (losses) on derivative financial instruments | |||||||||||
Interest rate | $ | 253 | $ | 224 | Interest income — Loans | ||||||
Interest rate | (3) | (3) | Interest expense — Long-term debt | ||||||||
Interest rate | — | — | Investment banking and debt placement fees | ||||||||
250 | 221 | Income (loss) from continuing operations before income taxes | |||||||||
59 | 53 | Income taxes | |||||||||
$ | 191 | $ | 168 | Income (loss) from continuing operations | |||||||
Net pension and postretirement benefit costs | |||||||||||
Amortization of losses | $ | (14) | $ | (13) | Other expense | ||||||
Settlement loss | (7) | (8) | Other expense | ||||||||
(21) | (21) | Income (loss) from continuing operations before income taxes | |||||||||
(5) | (5) | Income taxes | |||||||||
$ | (16) | $ | (16) | Income (loss) from continuing operations | |||||||
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 | ||||||||||||||||
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 | Third 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 | ||||||||||||||||
Three months ended June 30, | Consumer Bank | Commercial Bank | Other | Total Key | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, | Three months ended September 30, | Consumer Bank | Commercial Bank | Other | Total Key | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUMMARY OF OPERATIONS | SUMMARY OF OPERATIONS | SUMMARY OF OPERATIONS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income (TE) | Net interest income (TE) | $ | 600 | $ | 589 | $ | 419 | $ | 458 | $ | 4 | $ | (22) | $ | 1,023 | $ | 1,025 | Net interest income (TE) | $ | 582 | $ | 598 | $ | 414 | $ | 427 | $ | 29 | $ | (19) | $ | 1,025 | $ | 1,006 | ||||||||||||||||||||||||||||||||||||
Noninterest income | Noninterest income | 254 | 246 | 455 | 421 | 41 | 25 | 750 | 692 | Noninterest income | 288 | 266 | 477 | 384 | 32 | 31 | 797 | 681 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total revenue (TE) (a) | Total revenue (TE) (a) | 854 | 835 | 874 | 879 | 45 | 3 | 1,773 | 1,717 | Total revenue (TE) (a) | 870 | 864 | 891 | 811 | 61 | 12 | 1,822 | 1,687 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for credit losses | Provision for credit losses | (70) | 155 | (131) | 326 | (21) | 1 | (222) | 482 | Provision for credit losses | (38) | (3) | (69) | 150 | — | 13 | (107) | 160 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization expense | Depreciation and amortization expense | 22 | 20 | 33 | 37 | 35 | 34 | 90 | 91 | Depreciation and amortization expense | 31 | 19 | 34 | 35 | 22 | 35 | 87 | 89 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other noninterest expense | Other noninterest expense | 562 | 532 | 418 | 404 | 6 | (14) | 986 | 922 | Other noninterest expense | 560 | 548 | 436 | 412 | 29 | (12) | 1,025 | 948 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes (TE) | Income (loss) from continuing operations before income taxes (TE) | 340 | 128 | 554 | 112 | 25 | (18) | 919 | 222 | Income (loss) from continuing operations before income taxes (TE) | 317 | 300 | 490 | 214 | 10 | (24) | 817 | 490 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocated income taxes and TE adjustments | Allocated income taxes and TE adjustments | 81 | 30 | 120 | 6 | (6) | 1 | 195 | 37 | Allocated income taxes and TE adjustments | 76 | 71 | 106 | 41 | (8) | (46) | 174 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | Income (loss) from continuing operations | 259 | 98 | 434 | 106 | 31 | (19) | 724 | 185 | Income (loss) from continuing operations | 241 | 229 | 384 | 173 | 18 | 22 | 643 | 424 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 0 | 0 | 0 | 0 | 5 | 2 | 5 | 2 | Income (loss) from discontinued operations, net of taxes | — | — | — | — | 2 | 4 | 2 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | 259 | 98 | 434 | 106 | 36 | (17) | 729 | 187 | Net income (loss) | 241 | 229 | 384 | 173 | 20 | 26 | 645 | 428 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interests | Less: Net income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Less: Net income (loss) attributable to noncontrolling interests | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Key | Net income (loss) attributable to Key | $ | 259 | $ | 98 | $ | 434 | $ | 106 | $ | 36 | $ | (17) | $ | 729 | $ | 187 | Net income (loss) attributable to Key | $ | 241 | $ | 229 | $ | 384 | $ | 173 | $ | 20 | $ | 26 | $ | 645 | $ | 428 | ||||||||||||||||||||||||||||||||||||
AVERAGE BALANCES (b) | AVERAGE BALANCES (b) | AVERAGE BALANCES (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases | Loans and leases | $ | 40,598 | $ | 37,300 | $ | 59,953 | $ | 70,336 | $ | 263 | $ | 305 | $ | 100,814 | $ | 107,941 | Loans and leases | $ | 39,796 | $ | 38,354 | $ | 59,914 | $ | 66,378 | $ | 428 | $ | 187 | $ | 100,138 | $ | 104,919 | ||||||||||||||||||||||||||||||||||||
Total assets (a) | Total assets (a) | 43,991 | 42,194 | 69,101 | 79,267 | 64,778 | 42,638 | 177,870 | 164,099 | Total assets (a) | 42,981 | 43,304 | 69,285 | 74,530 | 69,105 | 50,977 | 181,371 | 168,811 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 88,412 | 79,235 | 54,814 | 47,954 | 1,096 | 788 | 144,322 | 127,977 | Deposits | 89,156 | 82,829 | 56,546 | 51,585 | 1,214 | 530 | 146,916 | 134,944 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
OTHER FINANCIAL DATA | OTHER FINANCIAL DATA | OTHER FINANCIAL DATA | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loan charge-offs (b) | Net loan charge-offs (b) | $ | 34 | $ | 39 | $ | 9 | $ | 57 | $ | (21) | $ | 0 | $ | 22 | $ | 96 | Net loan charge-offs (b) | $ | 35 | $ | 23 | $ | (6) | $ | 103 | $ | — | $ | 2 | $ | 29 | $ | 128 | ||||||||||||||||||||||||||||||||||||
Return on average allocated equity (b) | Return on average allocated equity (b) | 28.74 | % | 11.50 | % | 20.79 | % | 8.66 | % | 2.35 | % | (.82) | % | 16.81 | % | 4.21 | % | Return on average allocated equity (b) | 25.81 | % | 26.21 | % | 18.68 | % | 13.35 | % | 1.18 | % | .96 | % | 14.25 | % | 9.51 | % | ||||||||||||||||||||||||||||||||||||
Return on average allocated equity | Return on average allocated equity | 28.74 | 11.50 | 20.79 | 8.66 | 2.73 | (.73) | 16.93 | 4.25 | Return on average allocated equity | 25.81 | 26.21 | 18.68 | 13.35 | 1.31 | 1.14 | 14.30 | 9.60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Average full-time equivalent employees (c) | Average full-time equivalent employees (c) | 7,929 | 8,046 | 2,483 | 2,293 | 6,745 | 6,307 | 17,157 | 16,646 | Average full-time equivalent employees (c) | 7,976 | 8,323 | 2,371 | 2,312 | 6,662 | 6,462 | 17,009 | 17,097 |
Six months ended June 30, | Consumer Bank | Commercial Bank | Other | Total Key | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dollars in millions | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, | Nine months ended September 30, | Consumer Bank | Commercial Bank | Other | Total Key | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUMMARY OF OPERATIONS | SUMMARY OF OPERATIONS | SUMMARY OF OPERATIONS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income (TE) | Net interest income (TE) | $ | 1,210 | $ | 1,172 | $ | 832 | $ | 881 | $ | (7) | $ | (39) | $ | 2,035 | $ | 2,014 | Net interest income (TE) | $ | 1,788 | $ | 1,765 | $ | 1,244 | $ | 1,305 | $ | 28 | $ | (50) | $ | 3,060 | $ | 3,020 | ||||||||||||||||||||||||||||||||||||||||||
Noninterest income | Noninterest income | 511 | 474 | 901 | 639 | 76 | 56 | 1,488 | 1,169 | Noninterest income | 798 | 740 | 1,377 | 1,023 | 110 | 87 | 2,285 | 1,850 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total revenue (TE) (a) | Total revenue (TE) (a) | 1,721 | 1,646 | 1,733 | 1,520 | 69 | 17 | 3,523 | 3,183 | Total revenue (TE) (a) | 2,586 | 2,505 | 2,621 | 2,328 | 138 | 37 | 5,345 | 4,870 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for credit losses | Provision for credit losses | (94) | 292 | (198) | 547 | (23) | 2 | (315) | 841 | Provision for credit losses | (132) | 289 | (267) | 697 | (23) | 15 | (422) | 1,001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization expense | Depreciation and amortization expense | 40 | 41 | 67 | 73 | 73 | 68 | 180 | 182 | Depreciation and amortization expense | 71 | 59 | 101 | 108 | 95 | 105 | 267 | 272 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other noninterest expense | Other noninterest expense | 1,146 | 1,048 | 827 | 732 | (6) | (18) | 1,967 | 1,762 | Other noninterest expense | 1,706 | 1,597 | 1,263 | 1,144 | 23 | (32) | 2,992 | 2,709 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes (TE) | Income (loss) from continuing operations before income taxes (TE) | 629 | 265 | 1,037 | 168 | 25 | (35) | 1,691 | 398 | Income (loss) from continuing operations before income taxes (TE) | 941 | 560 | 1,524 | 379 | 43 | (51) | 2,508 | 888 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocated income taxes and TE adjustments | Allocated income taxes and TE adjustments | 150 | 61 | 218 | (4) | (19) | 11 | 349 | 68 | Allocated income taxes and TE adjustments | 226 | 133 | 324 | 38 | (27) | (37) | 523 | 134 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | Income (loss) from continuing operations | 479 | 204 | 819 | 172 | 44 | (46) | 1,342 | 330 | Income (loss) from continuing operations | 715 | 427 | 1,200 | 341 | 70 | (14) | 1,985 | 754 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income (loss) from discontinued operations, net of taxes | Income (loss) from discontinued operations, net of taxes | 0 | 0 | 0 | 0 | 9 | 3 | 9 | 3 | Income (loss) from discontinued operations, net of taxes | — | — | — | — | 11 | 7 | 11 | 7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | Net income (loss) | 479 | 204 | 819 | 172 | 53 | (43) | 1,351 | 333 | Net income (loss) | 715 | 427 | 1,200 | 341 | 81 | (7) | 1,996 | 761 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less: Net income (loss) attributable to noncontrolling interests | Less: Net income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Less: Net income (loss) attributable to noncontrolling interests | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to Key | Net income (loss) attributable to Key | $ | 479 | $ | 204 | $ | 819 | $ | 172 | $ | 53 | (d) | $ | (43) | $ | 1,351 | $ | 333 | Net income (loss) attributable to Key | $ | 715 | $ | 427 | $ | 1,200 | $ | 341 | $ | 81 | (d) | $ | (7) | $ | 1,996 | $ | 761 | ||||||||||||||||||||||||||||||||||||||||
AVERAGE BALANCES (b) | AVERAGE BALANCES (b) | AVERAGE BALANCES (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and leases | Loans and leases | $ | 39,927 | $ | 35,242 | $ | 60,584 | $ | 66,430 | $ | 266 | $ | 386 | $ | 100,777 | $ | 102,058 | Loans and leases | $ | 39,883 | $ | 36,319 | $ | 60,358 | $ | 66,374 | $ | 321 | $ | 325 | $ | 100,562 | $ | 103,018 | ||||||||||||||||||||||||||||||||||||||||||
Total assets (a) | Total assets (a) | 43,237 | 39,310 | 69,771 | 75,547 | 62,063 | 40,307 | 175,071 | 155,164 | Total assets (a) | 43,094 | 40,644 | 69,607 | 75,205 | 64,493 | 43,897 | 177,194 | 159,746 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 86,732 | 76,184 | 53,362 | 42,199 | 950 | 770 | 141,044 | 119,153 | Deposits | 87,549 | 78,414 | 54,660 | 45,350 | 814 | 691 | 143,023 | 124,455 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OTHER FINANCIAL DATA | OTHER FINANCIAL DATA | OTHER FINANCIAL DATA | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loan charge-offs (b) | Net loan charge-offs (b) | $ | 70 | $ | 83 | $ | 87 | $ | 97 | (21) | 0 | $ | 136 | $ | 180 | Net loan charge-offs (b) | $ | 105 | $ | 106 | $ | 81 | $ | 200 | (21) | 2 | $ | 165 | $ | 308 | ||||||||||||||||||||||||||||||||||||||||||||||
Return on average allocated equity (b) | Return on average allocated equity (b) | 27.46 | % | 12.07 | % | 19.10 | % | 7.13 | % | 1.66 | % | (1.01) | % | 15.45 | % | 3.80 | % | Return on average allocated equity (b) | 26.70 | % | 16.66 | % | 18.92 | % | 9.19 | % | 1.62 | % | (.20) | % | 14.87 | % | 5.74 | % | ||||||||||||||||||||||||||||||||||||||||||
Return on average allocated equity | Return on average allocated equity | 27.46 | 12.07 | 19.10 | 7.13 | 2.00 | (.94) | 15.55 | 3.84 | Return on average allocated equity | 26.70 | 16.66 | 18.92 | 9.19 | 1.87 | (.10) | 14.96 | 5.79 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average full-time equivalent employees (c) | Average full-time equivalent employees (c) | 8,106 | 8,095 | 2,371 | 2,277 | 6,645 | 6,215 | 17,122 | 16,587 | Average full-time equivalent employees (c) | 8,062 | 8,171 | 2,371 | 2,288 | 6,601 | 6,299 | 17,034 | 16,758 |
Three months ended June 30, 2021 | Three months ended June 30, 2020 | Three months ended September 30, 2021 | Three months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||
dollars in millions | Consumer Bank | Commercial Bank | Total Contract Revenue | Consumer Bank | Commercial Bank | Total Contract Revenue | ||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Consumer Bank | Commercial Bank | Total Contract Revenue | Consumer Bank | Commercial Bank | Total Contract Revenue | |||||||||||||||||||||||||||||||||||||||
NONINTEREST INCOME | NONINTEREST INCOME | NONINTEREST INCOME | ||||||||||||||||||||||||||||||||||||||||||||
Trust and investment services income | Trust and investment services income | $ | 105 | $ | 15 | $ | 120 | $ | 87 | $ | 15 | $ | 102 | Trust and investment services income | $ | 105 | $ | 16 | $ | 121 | $ | 100 | $ | 15 | $ | 115 | ||||||||||||||||||||
Investment banking and debt placement fees | Investment banking and debt placement fees | 0 | 121 | 121 | 0 | 60 | 60 | Investment banking and debt placement fees | — | 169 | 169 | — | 69 | 69 | ||||||||||||||||||||||||||||||||
Services charges on deposit accounts | Services charges on deposit accounts | 48 | 34 | 82 | 38 | 30 | 68 | Services charges on deposit accounts | 56 | 35 | 91 | 45 | 32 | 77 | ||||||||||||||||||||||||||||||||
Cards and payments income | Cards and payments income | 47 | 64 | 111 | 37 | 52 | 89 | Cards and payments income | 46 | 61 | 107 | 43 | 69 | 112 | ||||||||||||||||||||||||||||||||
Other noninterest income | Other noninterest income | 2 | 0 | 2 | 2 | 0 | 2 | Other noninterest income | 2 | — | 2 | 3 | — | 3 | ||||||||||||||||||||||||||||||||
Total revenue from contracts with customers | Total revenue from contracts with customers | $ | 202 | $ | 234 | $ | 436 | $ | 164 | $ | 157 | $ | 321 | Total revenue from contracts with customers | $ | 209 | $ | 281 | $ | 490 | $ | 191 | $ | 185 | $ | 376 | ||||||||||||||||||||
Other noninterest income (a) | Other noninterest income (a) | $ | 273 | $ | 346 | Other noninterest income (a) | $ | 275 | $ | 274 | ||||||||||||||||||||||||||||||||||||
Noninterest income from Other(b) | Noninterest income from Other(b) | 41 | 25 | Noninterest income from Other(b) | 32 | 31 | ||||||||||||||||||||||||||||||||||||||||
Total noninterest income | Total noninterest income | $ | 750 | $ | 692 | Total noninterest income | $ | 797 | $ | 681 |
Six months ended June 30, 2021 | Six months ended June 30, 2020 | Nine months ended September 30, 2021 | Nine months ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||
dollars in millions | Consumer Bank | Commercial Bank | Total Contract Revenue | Consumer Bank | Commercial Bank | Total Contract Revenue | ||||||||||||||||||||||||||||||||||||||||
Dollars in millions | Dollars in millions | Consumer Bank | Commercial Bank | Total Contract Revenue | Consumer Bank | Commercial Bank | Total Contract Revenue | |||||||||||||||||||||||||||||||||||||||
NONINTEREST INCOME | NONINTEREST INCOME | NONINTEREST INCOME | ||||||||||||||||||||||||||||||||||||||||||||
Trust and investment services income | Trust and investment services income | $ | 206 | $ | 34 | $ | 240 | $ | 179 | $ | 34 | $ | 213 | Trust and investment services income | $ | 311 | $ | 49 | $ | 360 | $ | 279 | $ | 49 | $ | 328 | ||||||||||||||||||||
Investment banking and debt placement fees | Investment banking and debt placement fees | 0 | 202 | 202 | 0 | 107 | 107 | Investment banking and debt placement fees | — | 367 | 367 | — | 176 | 176 | ||||||||||||||||||||||||||||||||
Services charges on deposit accounts | Services charges on deposit accounts | 88 | 68 | 156 | 94 | 58 | 152 | Services charges on deposit accounts | 145 | 102 | 247 | 138 | 91 | 229 | ||||||||||||||||||||||||||||||||
Cards and payments income | Cards and payments income | 88 | 126 | 214 | 75 | 78 | 153 | Cards and payments income | 135 | 187 | 322 | 118 | 147 | 265 | ||||||||||||||||||||||||||||||||
Other noninterest income | Other noninterest income | 4 | 1 | 5 | 4 | 0 | 4 | Other noninterest income | 5 | 2 | 7 | 7 | — | 7 | ||||||||||||||||||||||||||||||||
Total revenue from contracts with customers | Total revenue from contracts with customers | $ | 386 | $ | 431 | $ | 817 | $ | 352 | $ | 277 | $ | 629 | Total revenue from contracts with customers | $ | 596 | $ | 707 | $ | 1,303 | $ | 542 | $ | 463 | $ | 1,005 | ||||||||||||||||||||
Other noninterest income (a) | Other noninterest income (a) | $ | 595 | $ | 484 | Other noninterest income (a) | $ | 872 | $ | 758 | ||||||||||||||||||||||||||||||||||||
Noninterest income from Other(b) | Noninterest income from Other(b) | 76 | 56 | Noninterest income from Other(b) | 110 | 87 | ||||||||||||||||||||||||||||||||||||||||
Total noninterest income | Total noninterest income | $ | 1,488 | $ | 1,169 | Total noninterest income | $ | 2,285 | $ | 1,850 |
Cleveland, Ohio | |||||
Calendar month | Total number of shares purchased (a) | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | Maximum number of shares that may yet be purchased as part of publicly announced plans or programs (b) | |||||||||||||||||||
April 1 - 30 | 3,064,445 | 21.62 | 3,064,445 | 30,675,928 | |||||||||||||||||||
May 1 - 31 | 9,153,574 | 22.86 | 9,153,574 | 19,888,565 | |||||||||||||||||||
June 1 - 30 | 1,085,938 | 22.71 | 1,085,938 | 20,996,073 | |||||||||||||||||||
Total | 13,303,957 | $ | 22.57 | 13,303,957 | |||||||||||||||||||
Calendar month | Total number of shares purchased (a) | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | Maximum number of shares that may yet be purchased as part of publicly announced plans or programs (b) | |||||||||||||||||||
July 1 - 31 | 4,552,375 | 19.45 | 4,552,375 | 71,792,234 | |||||||||||||||||||
August 1 - 30 | 1,817,320 | 19.83 | 1,817,320 | 67,687,234 | |||||||||||||||||||
September 1 - 30 | 23,553,087 | 19.87 | 23,553,087 | 41,970,613 | |||||||||||||||||||
Total | 29,922,782 | $ | 19.80 | 29,922,782 | |||||||||||||||||||
101 | The following materials from KeyCorp’s Form 10-Q Report for the quarterly period ended | ||||
104 | The cover page from KeyCorp’s Form 10-Q for the quarterly period ended |
* | Furnished herewith. |
KEYCORP | |||||
(Registrant) | |||||
/s/ Douglas M. Schosser | |||||
By: Douglas M. Schosser | |||||
Chief Accounting Officer (Principal Accounting Officer) |