Cit (CIT) 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	CIT GROUP INC
Entity Central Index Key	1,171,825
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		200,970,322

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks, including restricted balances of $617.2 and $374.0 at September 30, 2015 and December 31, 2014(1), respectively		$ 1,653.6	$ 878.5
Interest bearing deposits, including restricted balances of $219.2 and $590.2 at September 30, 2015 and December 31, 2014(1), respectively		6,606.3	6,241.2
Securities purchased under agreements to resell		100	650
Investment securities		3,618.8	1,550.3
Assets held for sale	[1]	2,154.3	1,218.1
Loans (see Note 7 for amounts pledged)		32,406.2	19,495
Allowance for loan losses		(335)	(346.4)
Total loans, net of allowance for loan losses	[1]	32,071.2	19,148.6
Operating lease equipment, net (see Note 7 for amounts pledged)	[1]	15,538.2	14,930.4
Indemnification assets		465
Unsecured counterparty receivable		529.5	559.2
Goodwill		1,135.1	571.3
Intangible assets		201.3	25.7
Other assets, including $222.6 and $168.4 at September 30, 2015 and December 31, 2014 (1), respectively, at fair value		3,538.4	2,106.7
Assets of discontinued operation		513.8
Total Assets		68,125.5	47,880
Liabilities
Deposits		32,328.9	15,849.8
Credit balances of factoring clients		1,609.3	1,622.1
Other liabilities, including $247.3 and $62.8 at September 30, 2015 and December 31, 2014, respectively, at fair value		3,395.7	2,888.8
Borrowings, including $4,006.4 and $3,053.3 contractually due within twelve months at Septemer 30, 2015 and December 31, 2014, respectively		19,320.5	18,455.8
Liabilities of discontinued operation		671.9	0
Total Liabilities		57,326.3	38,816.5
Stockholders' Equity
Common stock: $0.01 par value, 600,000,000 authorized; Issued: 203,344,215 and 203,127,291 at September 30, 2015 and December 31, 2014, respectively; Outstanding: 200,952,387 and 180,920,575 at September 30, 2015 and December 31, 2014, respectively		2	2
Paid-in capital		8,683.5	8,603.6
Retained earnings		2,443.4	1,615.7
Accumulated other comprehensive loss		(174.3)	(133.9)
Treasury stock: 3,391,828 and 22,206,716 shares at September 30, 2015 and December 31, 2014, respectively, at cost		(155.9)	(1,018.5)
Total Common Stockholders' Equity		10,798.7	9,068.9
Noncontrolling minority interests		0.5	(5.4)
Total Equity		10,799.2	9,063.5
Total Liabilities and Equity		68,125.5	47,880
Variable Interest Entities [Member]
Assets
Cash and due from banks, including restricted balances of $617.2 and $374.0 at September 30, 2015 and December 31, 2014(1), respectively		339.7	537.3
Assets held for sale		431.5
Loans (see Note 7 for amounts pledged)		2,729.7	3,619.2
Operating lease equipment, net (see Note 7 for amounts pledged)		4,151.4	4,219.7
Other assets, including $222.6 and $168.4 at September 30, 2015 and December 31, 2014 (1), respectively, at fair value		14	10
Total Assets		7,666.3	8,386.2
Liabilities
Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)		4,643.5	5,331.5
Total Liabilities		$ 4,643.5	$ 5,331.5
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interest in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Consolidated Balance Sheets [Abstract]
Restricted cash and due from banks	$ 617.2	$ 374	[1]
Restricted interest-bearing deposits	219.2	590.2	[1]
Other assets at fair value	222.6	168.4	[1]
Other liabilities at fair value	247.3	62.8
Borrowings contractually due within twelve months	$ 4,006.4	$ 3,053.3
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	203,344,215	203,127,291
Common stock, shares outstanding	200,952,387	180,920,575
Treasury stock, shares at cost	3,391,828	22,206,716
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interest in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest income
Interest and fees on loans	$ 414.2	$ 299.9	$ 961.4	$ 894.7
Other interest and dividends	23.5	8.4	41.1	25.6
Interest income	437.7	308.3	1,002.5	920.3
Interest expense
Interest on borrowings	(187.2)	(216)	(582.5)	(642.1)
Interest on deposits	(93.1)	(59.2)	(234.3)	(167.2)
Interest expense	(280.3)	(275.2)	(816.8)	(809.3)
Net interest revenue	157.4	33.1	185.7	111
Provision for credit losses	(49.9)	(38.2)	(102.9)	(85.1)
Net interest revenue, after credit provision	107.5	(5.1)	82.8	25.9
Non-interest income
Rental income on operating leases	539.3	535	1,601.6	1,546.5
Other income	39.2	24.2	189.1	189
Total non-interest income	578.5	559.2	1,790.7	1,735.5
Total revenue, net of interest expense and credit provision	686	554.1	1,873.5	1,761.4
Non-interest expenses
Depreciation on operating lease equipment	(159.1)	(156.4)	(473.7)	(462.5)
Maintenance and other operating lease expenses	(55.9)	(46.5)	(151.4)	(147.1)
Operating expenses	(333.9)	(234.5)	(810.5)	(693)
Loss on debt extinguishment	(0.3)		(0.4)	(0.4)
Total non-interest/other expenses	(549.2)	(437.4)	(1,436)	(1,303)
Income from continuing operations before (provision) benefit for income taxes	136.8	116.7	437.5	458.4
Provision for income taxes	560	401.2	478.2	369.6
Income from continuing operations, before attribution of noncontrolling interests	696.8	517.9	915.7	828
Net (income) loss attributable to noncontrolling interests, after tax		(2.5)	0.1	(2.5)
Income from continuing operations	696.8	515.4	915.8	825.5
Discontinued Operations
Loss from discontinued operation, net of taxes	(3.7)	(0.5)	(3.7)	(229.3)
Gain on sale of discontinued operation				282.8
Total (loss) income from discontinued operations, net of tax	(3.7)	(0.5)	(3.7)	53.5
Net income (loss)	$ 693.1	$ 514.9	$ 912.1	$ 879
Basic income per common share
Income from continuing operations	$ 3.66	$ 2.78	$ 5.08	$ 4.34
(Loss) income from discontinued operation	(0.02)	0	(0.02)	0.28
Basic income per share	3.64	2.78	5.06	4.62
Diluted income per common share
Income from continuing operations	3.63	2.76	5.05	4.31
(Loss) income from discontinued operation	(0.02)	0	(0.02)	0.28
Diluted income per share	$ 3.61	$ 2.76	$ 5.03	$ 4.59
Average number of common shares (thousands)
Average number of common shares: basic	190,557	185,190	180,300	190,465
Average number of common shares: diluted	191,803	186,289	181,350	191,433
Dividends declared per common share	$ 0.15	$ 0.15	$ 0.45	$ 0.35

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) [Abstract]
Income (loss) from continuing operations, before attribution of noncontrolling interests	$ 696.8	$ 517.9	$ 915.7	$ 828
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(8.7)	(6.3)	(33.4)	(13.6)
Changes in fair values of derivatives qualifying as cash flow hedges		0.3		0.2
Net unrealized gains (losses) on available for sale securities	(6.1)	(0.4)	(5.9)	(0.1)
Changes in benefit plans net gain (loss) and prior service (cost)/credit	(0.7)	1.8	(1.1)	5
Other comprehensive income (loss), net of tax	(15.5)	(4.6)	(40.4)	(8.5)
Comprehensive income (loss) before noncontrolling interests and discontinued operation	681.3	513.3	875.3	819.5
Comprehensive (income) loss attributable to noncontrolling interests		(2.5)	0.1	(2.5)
Income (loss) from discontinued operation, net of taxes	(3.7)	(0.5)	(3.7)	53.5
Comprehensive income (loss)	$ 677.6	$ 510.3	$ 871.7	$ 870.5

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity - USD ($) $ in Millions	Common Stock [Member]	Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Noncontrolling Minority Interest [Member]	Total
Beginning balance at Dec. 31, 2013	$ 2	$ 8,555.4	$ 581	$ (73.6)	$ (226)	$ 11.2	$ 8,850
Net income (loss)			879			2.5	881.5
Other comprehensive income (loss), net of tax				(8.5)			(8.5)
Dividends paid			(67.5)				(67.5)
Amortization of restricted stock, stock option and performance shares expenses		37.1			(16.8)		20.3
Repurchase of common stock		0			(658)		(658)
Employee stock purchase plan		1.1					1.1
Distribution of earnings and capital						(14.9)	(14.9)
Ending balance at Sep. 30, 2014	2	8,593.6	1,392.5	(82.1)	(900.8)	(1.2)	9,004
Beginning balance at Dec. 31, 2014	2	8,603.6	1,615.7	(133.9)	(1,018.5)	(5.4)	9,063.5
Net income (loss)			912.1			(0.1)	912
Other comprehensive income (loss), net of tax				(40.4)			(40.4)
Dividends paid			(84.4)				(84.4)
Amortization of restricted stock, stock option and performance shares expenses		59.8			(22)		37.8
Repurchase of common stock					(531.8)		(531.8)
Issuance of common stock - acquisition		45.6			1,416.4		1,462
Employee stock purchase plan		1					1
Purchase of noncontrolling interest and distribution of earnings and capital		(26.5)				6	(20.5)
Ending balance at Sep. 30, 2015	$ 2	$ 8,683.5	$ 2,443.4	$ (174.3)	$ (155.9)	$ 0.5	$ 10,799.2

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows From Operations
Net income (loss)	$ 912.1	$ 879
Adjustments to reconcile net income (loss) to net cash flows from operations:
Provision for credit losses	102.9	85.1
Net depreciation, amortization and (accretion)	500.7	729.2
Net gains on asset sales	(66.6)	(288.3)
(Benefit) provision for deferred income taxes	(563.6)	(395.5)
(Increase) decrease in finance receivables originated for sale	(101.1)	(144.7)
Goodwill impairment	29
Reimbursement of OREO expense from FDIC	2.2
(Increase) decrease in other assets	(45.8)	124.4
Increase(decrease) in accrued liabilities and payables	11	(148.1)
Net cash flows used in operations	780.8	841.1
Cash Flows From Investing Activities
Loans originated and purchased	(10,548.4)	(11,532.5)
Principal collections of loans	9,224.8	9,880.8
Purchases of assets to be leased and other equipment	(1,717.9)	(2,431.7)
Proceeds from asset and receivable sales	1,455.7	2,578.5
Purchases of investment securities	(6,882.1)	(8,494.4)
Proceeds from maturities of investment securities	7,066	9,695.2
Purchases of restricted stock	(126.2)
Proceeds from redemption of restricted stock	18.3
Payments to the FDIC under loss share agreements	(17.4)
Proceeds from the FDIC under loss share agreements and pariticpation agreements	11.3
Proceeds from sales of other real estate owned, net of repurchases	24.2
Acquisitions, net of cash received	2,521.2	(448.2)
Net change in restricted cash	151.1	(21.2)
Net cash flows provided by investing activities	1,148.3	(885.7)
Cash Flows From Financing Activities
Proceeds from the issuance of term debt	1,670.6	2,866
Repayments of term debt	(3,854.5)	(4,116.5)
Proceeds from the issuance of FHLB debt	5,100
Repayments of FHLB debt	(4,997.4)
Net increase in deposits	1,949.2	1,957.1
Collection of security deposits and maintenance funds	234.9	246.3
Use of security deposits and maintenance funds	(127.1)	(129)
Issuance of common stock	45.6
Repurchase of common stock	(577.4)	(658)
Dividends paid	(84.4)	(67.5)
Purchase of noncontrolling interest	(20.5)
Payments on affordable housing investment credits	(0.2)
Net cash flows used in financing activities	(661.2)	98.4
Net decrease in unrestricted cash and cash equivalents	1,267.9	53.8
Unrestricted cash and cash equivalents, beginning of period	6,155.5	5,081.1
Unrestricted cash and cash equivalents, end of period	7,423.4	5,134.9
Supplementary Cash Flow Disclosure
Interest paid	(866.5)	(850.8)
Federal, foreign, state and local income taxes (paid) collected, net	(26.4)	(19)
Supplementary Non Cash Flow Disclosure
Transfer of assets from held for investment to held for sale	2,030	1,329.6
Transfer of assets from held for sale to held for investment	93.1	$ 52.2
Transfer of assets from held for sale and held for investment to OREO	26.4
Issuance of common stock as consideration	$ 1,462

Business And Summary Of Signifi

Business And Summary Of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Business And Summary Of Significant Accounting Policies [Abstract]
Business And Summary Of Significant Accounting Policies	NOTE 1 — BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CIT Group Inc., together with its subsidiaries (collectively “CIT” or the “Company”), has provided financial solutions to its clients since its formation in 1908. The Company provides financing, leasing and advisory services principally to middle market companies in a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation industry worldwide. CIT became a bank holding company (“BHC”) in December 2008 and a financial holding company (“FHC”) in July 2013. Through its bank subsidiary, CIT Bank, N.A., CIT provides a full range of commercial and consumer banking and related services to customers through 70 branches located in southern California and its online bank, bankoncit.com. Effective as of August 3, 2015, CIT Group Inc. (“CIT”) acquired IMB HoldCo LLC (“IMB”), the parent company of OneWest Bank, National Association, a national bank (“OneWest Bank”). CIT Bank, a Utah-state chartered bank and a wholly owned subsidiary of CIT, merged with and into OneWest Bank (the “OneWest Transaction”), with OneWest Bank surviving as a wholly owned subsidiary of CIT with the name CIT Bank, National Association (“CIT Bank, N.A.” or “CIT Bank”). See Note 2 — Acquisitions and Disposition Activities for details. CIT is regulated by the Board of Governors of the Federal Reserve System (“FRB”) and the Federal Reserve Bank of New York (“FRBNY”) under the U.S. Bank Holding Company Act of 1956. CIT Bank, N.A. is regulated by the Office of the Comptroller of the Currency, U.S. Department of the Treasury (“OCC”). Prior to the OneWest Transaction, CIT Bank was regulated by the Federal Deposit Insurance Corporation (“FDIC”) and the Utah Department of Financial Institutions (“UDFI”). BASIS OF PRESENTATION Principles of Consolidation The accompanying consolidated financial statements include financial information related to CIT Group Inc. and its majority-owned subsidiaries and those variable interest entities (“VIEs”) where the Company is the primary beneficiary. In preparing the consolidated financial statements, all significant inter-company accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements. These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial information and accordingly, do not include all information and note disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. The financial statements in this Form 10-Q in the opinion of management include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of CIT’s financial position, results of operations and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Form 10-K on file. The accounting and financial reporting policies of CIT Group Inc. conform to GAAP and the preparation of the consolidated financial statements requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates and assumptions. Some of the more significant estimates include: allowance for loan losses, loan impairment, fair value determination, lease residual values, liabilities for uncertain tax positions, realizability of deferred tax assets, purchase accounting adjustments, indemnification assets, goodwill, intangible assets, and contingent liabilities. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities. The results for the quarter and nine months ended September 30, 2015 each contain activity of OneWest Bank for approximately two months, therefore they are not necessarily indicative of the results expected for any other interim period or for the full year as a whole. Discontinued Operations The F inancial Freedom business, a division of CIT Bank (formerly a division of OneWest Bank), that services reverse mortgage loans , was acquired in conjunction with the OneWest Transaction. Pursuant to ASC 205-20, as amended by ASU 2014-08, the Financial Freedom business is reflected as discontinued operations as of September 30, 2015. The business includes the entire third party servicing of reverse mortgage operations, which include personnel, systems and the servicing assets. The assets of discontinued operations primarily include Home Equity Conversion Mortgage (“HECM”) loans and servicing advances, while liabilities of discontinued operations include reverse mortgage servicing liabilit y , secured borrowings and contingent liabilities. The reverse mortgage servicing relates primarily to loans serviced for Fannie Mae. Separate from the Financial Freedom business, there is a portfolio of reverse mortgages in the Legacy Consumer Mortgage segment, which is continuing operations. In addition, on April 25, 2014, the Company completed the sale of its student lending business, which was finalized in 2014. As a result, that business was reported as a discontinued operation. Discontinued Operations are discussed in Note 2 — – Acquisition and Disposition Activities. SIGNIFICANT ACCOUNTING POLICIES Financing and Leasing Assets CIT extends credit to commercial customers through a variety of financing arrangements including term loans, revolving credit facilities, capital (direct finance) leases and operating leases. With the addition of OneWest Bank, CIT now also extends credit through consumer loans, including residential mortgages and home equity loans, and has a portfolio of reverse mortgages. The amounts outstanding on term loans, consumer loans, revolving credit facilities and capital leases are referred to as finance receivables. In certain instances, we use the term “Loans” synonymously, as presented on the balance sheet. These finance receivables, when combined with Assets held for sale (“AHFS”) and Operating lease equipment, net are referred to as financing and leasing assets. It is CIT’s expectation that the majority of the loans and leases originated will be held for the foreseeable future or until maturity. In certain situations, for example to manage concentrations and/or credit risk or where returns no longer meet specified targets, some or all of certain exposures are sold. Loans for which the Company has the intent and ability to hold for the foreseeable future or until maturity are classified as held for investment (“HFI”). If the Company no longer has the intent or ability to hold loans for the foreseeable future, then the loans are transferred to AHFS. Loans originated with the intent to resell are classified as AHFS. Loans originated and classified as HFI are recorded at amortized cost. Loan origination fees and certain direct origination costs are deferred and recognized as adjustments to interest income over the lives of the related loans. Unearned income on leases and discounts and premiums on loans purchased are amortized to interest income using the effective interest method. For loans classified as AHFS, the amortization of discounts and premiums on loans purchased and unearned income ceases. Direct financing leases originated and classified as HFI are recorded at the aggregate future minimum lease payments plus estimated residual values less unearned finance income. Management performs periodic reviews of estimated residual values, with other than temporary impairment (“OTTI”) recognized in current period earnings. If it is determined that a loan should be transferred from HFI to AHFS, then the balance is transferred at the lower of cost or fair value. At the time of transfer, a write-down of the loan is recorded as a charge-off when the carrying amount exceeds fair value and the difference relates to credit quality, otherwise the write-down is recorded as a reduction to Other Income, and any allowance for loan loss is reversed. Once classified as AHFS, the amount by which the carrying value exceeds fair value is recorded as a valuation allowance and is reflected as a reduction to Other Income. If it is determined that a loan should be transferred from AHFS to HFI, the loan is transferred at the lower of cost or fair value on the transfer date, which coincides with the date of change in management’s intent. The difference between the carrying value of the loan and the fair value, if lower, is reflected as a loan discount at the transfer date, which reduces its carrying value. Subsequent to the transfer, the discount is accreted into earnings as an increase to interest income over the life of the loan using the effective interest method. Loans acquired in the OneWest Transaction were initially recorded at their fair value on the acquisition date. For loans that were not considered credit impaired at the date of acquisition and for which cash flows were evaluated based on contractual terms, a premium or discount was recorded, representing the difference between the unpaid principal balance and the fair value. The discount or premium is accreted or amortized to earnings using the effective interest method as a yield adjustment over the remaining terms of the loans and is recorded in Interest Income. If the loan is prepaid, the remaining discount or premium will be recognized in Interest Income. If the loan is sold, the remaining discount will be considered in the resulting gain or loss on sale. If the loan is subsequently classified as non-accrual, or transferred to AHFS, accretion / amortization of the discount (premium) will cease. For loans that were purchased with evidence of credit quality deterioration since origination, the discount recorded includes accretable and non-accretable components Purchased Credit-Impaired Loans Loans accounted for as purchased credit-impaired loans (“PCI loans”) are accounted for in accordance with ASC 310-30 Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”) . PCI loans were determined as of the date of purchase to have evidence of credit quality deterioration, which make it probable that the Company will be unable to collect all contractually required payments. Evidence of credit quality deterioration as of the purchase date may include past due status, recent borrower credit scores, credit rating (probability of obligor default) and recent loan-to-value ratios. Commercial PCI loans are accounted for as individual loans. Conversely, consumer PCI loans with similar common risk characteristics are pooled together for accounting purposes (i.e., into one unit of account). Common risk characteristics consist of similar credit risk (e.g., delinquency status, loan-to-value, or credit risk rating) and at least one other predominant risk characteristic (e.g., loan type, collateral type, interest rate index or type, date of origination or term). For pooled loans, each pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows for the pool. At acquisition, the PCI loans were initially recorded at estimated fair value, which is determined by discounting each commercial loan’s or consumer pool’s principal and interest cash flows expected to be collected using a discount rate for similar instruments with adjustments that management believes a market participant would consider. The Company estimated the cash flows expected to be collected at acquisition using internal credit risk and prepayment risk models that incorporate management’s best estimate of current key assumptions, such as default rates, loss severity and prepayment speeds of the loan. For both commercial PCI loans (evaluated individually) and consumer PCI loans (evaluated on a pool basis), an accretable yield is measured as the excess of the cash flows expected to be collected, estimated at the acquisition date, over the recorded investment (estimated fair value at acquisition) and is recognized in interest income over the remaining life of the loan, or pool of loans, on an effective yield basis. The difference between the cash flows contractually required to be paid, measured as of the acquisition date, over the expected cash flows is referred to as the non-accretable difference. Subsequent to acquisition, we evaluate our estimates of the cash flows expected to be collected on a quarterly basis for both commercial PCI loans (evaluated individually) and consumer PCI loans (evaluated on a pool basis). During each subsequent reporting period, the cash flows expected to be collected shall be reviewed but will be revised only if it is deemed probable that a significant change has occurred. Probable and significant decreases in expected cash flows as a result of further credit deterioration result in a charge to the provision for credit losses and a corresponding increase to the allowance for credit losses . Probable and significant increases in cash flows expected to be collected due to improved credit quality result in recovery of any previously recorded allowance for loan losses, to the extent applicable, and an increase in the accretable yield applied prospectively for any remaining increase. Changes in expected cash flows caused by changes in market interest rates are recognized as adjustments to the accretable yield on a prospective basis. Resolutions of loans may include sales to third parties, receipt of payments in settlement with the borrower, or foreclosure of the collateral. Upon resolution, the Company’s policy is to remove an individual consumer PCI loan from the pool at its carrying amount . Any difference between the loans carrying amount and the fair value of the collateral or other assets received does not affect the percentage yield calculation used to recognize accretable yield on the pool. This removal method assumes that the amount received from these resolutions approximates the pool performance expectations of cash flows. The accretable yield percentage is unaffected by the resolution. Modifications or refinancing of loans accounted for within a pool do not result in the removal of those loans from the pool; instead, the revised terms are reflected in the expected cash flows within the pool of loans. Reverse Mortgages Reverse mortgage loans, which were recorded at fair value on the acquisition date, are contracts in which a homeowner borrows against the equity in their home and receives cash in one lump sum payment, a line of credit, fixed monthly payments for either a specific term or for as long as the homeowner lives in the home or a combination of these options. Since reverse mortgages are nonrecourse obligations, the loan repayments are generally limited to the sale proceeds of the borrower’s residence and the mortgage balance consists of cash advanced, interest compounded over the life of the loan, and capitalized mortgage insurance premiums and other servicing advances capitalized into loans. Revenue Recognition Interest income on loans (both HFI and AHFS) is recognized using the effective interest method or on a basis approximating a level rate of return over the life of the asset. Interest income includes components of accretion of the fair value discount on loans and lease receivables recorded in connection with Purchase Accounting Adjustments (“PAA”) and to a lesser extent Fresh Start Accounting (“FSA”) adjustments that were applied as of December 31, 2009, (the Convenience Date), all of which are accreted using the effective interest method as a yield adjustment over the remaining contractual term of the loan and recorded in interest income. If the loan is subsequently classified as AHFS, accretion (amortization) of the discount (premium) will cease. See Purchase Accounting Adjustments in Note 2 — Acquisition and Disposition Activities further in this section. Reverse mortgages are accounted for in accordance with the instructions provided by the staff of the Securities and Exchange Commission (“SEC”) entitled “Accounting for Pools of Uninsured Residential Reverse Mortgage Contracts.” The Company has determined the unit of account to be the loan level. To determine the effective yield of the loan, we project the loan’s cash inflows and outflows including actuarial projections of the life expectancy of the individual contract holder and changes in the collateral value of the residence. At each reporting date, a new economic forecast is made of the cash inflows and outflows for the population of uninsured reverse mortgages. The effective yield of the individual loans is recomputed and income is adjusted to retrospectively reflect the revised rate of return. Because of this accounting, the recorded value of uninsured reverse mortgage loans and interest income can result in significant volatility associated with the estimates. As a result, income recognition can vary significantly from period to period. Rental revenue on operating leases is recognized on a straight line basis over the lease term and is included in Non-interest Income. Intangible assets were recorded during FSA and in acquisitions completed by the Company to adjust the carrying value of above or below market operating lease contracts to their fair value. The FSA related adjustments (net) are amortized into rental income on a straight line basis over the remaining term of the respective lease. The recognition of interest income (including accretion) on Loans is suspended and an account is placed on non-accrual status when, in the opinion of management, full collection of all principal and interest due is doubtful. To the extent the estimated cash flows, including fair value of collateral, does not satisfy both the principal and accrued interest outstanding, accrued but uncollected interest at the date an account is placed on non-accrual status is reversed and charged against interest income. Subsequent interest received is applied to the outstanding principal balance until such time as the account is collected, charged-off or returned to accrual status. Loans that are on cash basis non-accrual do not accrue interest income; however, payments designated by the borrower as interest payments may be recorded as interest income. To qualify for this treatment, the remaining recorded investment in the loan must be deemed fully collectable. The recognition of interest income (including accretion) on consumer mortgages (except reverse mortgages) and small ticket commercial loans and lease receivables is suspended and all previously accrued but uncollected revenue is reversed, when payment of principal and/or interest is contractually delinquent for 90 days or more. Accounts, including accounts that have been modified, are returned to accrual status when, in the opinion of management, collection of remaining principal and interest is reasonably assured, and there is a sustained period of repayment performance for a minimum of six months. The Company periodically modifies the terms of finance receivables in response to borrowers’ financial difficulties. These modifications may include interest rate changes, principal forgiveness or payment deferments. Finance receivables that are modified, where a concession has been made to the borrower, are accounted for as Troubled Debt Restructurings (“TDRs”). TDRs are generally placed on non-accrual upon their restructuring and remain on non-accrual until, in the opinion of management, collection of remaining principal and interest is reasonably assured, and upon collection of six consecutive scheduled payments. PCI loans in pools that the Company may modify as TDRs are not within the scope of the accounting guidance for TDRs. Allowance for Loan Losses on Finance Receivables The allowance for loan losses is intended to provide for credit losses inherent in the Held for Investment loan and lease receivables portfolio and is periodically reviewed for adequacy. The allowance for loan losses is determined based on three key components: (1) specific allowances for loans that are impaired, based upon the value of underlying collateral or projected cash flows, or observable market price, (2) non-specific allowances for estimated losses inherent in the portfolio based upon the expected loss over the loss emergence period, and (3) allowances for estimated losses inherent in the portfolio based upon economic risks, industry and geographic concentrations, and other factors. Changes to the Allowance for Loan Losses are recorded in the Provision for Credit Losses. Determining an appropriate allowance for loan losses requires significant judgment that may change based on management’s ongoing process in analyzing the credit quality of the Company’s HFI loan portfolio. Finance receivables are divided into the following portfolio segments, which correspond to the Company’s business segments: Transportation & International Finance (“TIF”), North America Banking (“NAB”); formerly known as North American Commercial Finance, Legacy Consumer Mortgages (“LCM”) and Non-Strategic Portfolios (“NSP”). Within each portfolio segment, credit risk is assessed and monitored in the following classes of loans; within TIF, Aerospace, Rail, Maritime Finance and International Finance, within NAB, Commercial Banking, Equipment Finance, Commercial Real Estate, and Commercial Services, (collectively referred to as the Commercial Loans); and within LCM, the Single Family Residential (“SFR”) Mortgages and Reverse Mortgages and in NAB, Consumer Banking, (collectively referred to as the Consumer Loans). The allowance is estimated based upon the finance receivables in the respective class. For each portfolio, impairment is generally measured individually for larger non-homogeneous loans (finance receivables of $500 thousand or greater) and collectively for groups of smaller loans with similar characteristics or for designated pools of PCI loans based on decreases in cash flows expected to be collected subsequent to acquisition. Loans acquired in the OneWest Transaction were initially recorded at estimated fair value at the time of acquisition. Expected credit losses were included in the determination of estimated fair value, no allowance was established on the acquisition date. Allowance Methodology Commercial Loans With respect to commercial portfolios, the Company monitors credit quality indicators, including expected and historical losses and levels of and trends in past due loans, non-performing assets and impaired loans, collateral values and economic conditions. Commercial loans are graded based on various risk factors. The non-specific allowance is determined based on the estimated probability of default, which reflects the borrower’s financial strength, and the severity of loss in the event of default, considering the quality of the underlying collateral. The probability of default and severity are derived through historical observations of default and subsequent losses within each risk grading. A specific allowance is also established for impaired commercial loans and commercial loans modified in a TDR. Refer to the Impairment of Finance Receivables section of this Note for details. Consumer Loans For residential mortgages, the Company develops a loss reserve factor by deriving the projected lifetime losses then adjusting for losses expected to be specifically identified within the loss emergence period. The key drivers of the projected lifetime losses include the type of loan, type of product, delinquency status of the underlying loans, loan-to-value and/or debt-to-income ratios, geographic location of the collateral, and any guarantees. For reverse mortgage loans, an allowance is established if the Company is likely to experience losses on the disposition of the property that are not reflected in the recorded investment. The level of any required allowance for loan losses on reverse mortgage loans is based on the Company’s estimate of the future fair value of the property based on current conditions and trends. An allowance is recorded for any shortfall between the estimated future fair value of the property less estimated costs to sell and the estimated future net investment in the loan. If consumer loan losses are reimbursable by the FDIC under the loss sharing agreement, the recorded provision is partially offset by any benefit expected to be derived from the related indemnification asset. See Indemnification Assets later in this section. Other Allowance Factors With respect to assets transferred from HFI to AHFS, a charge - off is recognized to the extent carrying value exceeds the fair value and the difference relates to credit quality. An approach similar to the allowance for loan losses is utilized to calculate a reserve for losses related to unfunded loan commitments along with deferred purchase commitments associated with the Company’s factoring business. A reserve for unfunded loan commitments is maintained to absorb estimated probable losses related to these facilities. The adequacy of the reserve is determined based on periodic evaluations of the unfunded credit facilities, including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers, and the terms and expiration dates of the unfunded credit facilities. The reserve for unfunded loan commitments is recorded as a liability on the Consolidated Balance Sheet. Net adjustments to the reserve for unfunded loan commitments are included in the provision for credit losses. The allowance policies described above related to specific and non-specific allowances, and the impaired finance receivables and charge-off policies that follow are applied across the portfolio segments and loan classes therein. Given the nature of the Company’s business, the specific allowance is largely related to the NAB and TIF segments. The non-specific allowance, which considers the Company’s internal system of probability of default and loss severity ratings, among other factors, is applicable to commercial portfolio segments. Additionally, portions of the NAB and LCM segments also utilize methodologies under ASC 310-30, as discussed below. PCI Loans Subsequent to acquisition, we evaluate our estimates of the cash flows expected to be collected on a quarterly basis for both commercial PCI loans (evaluated individually) and consumer PCI loans (evaluated on a pool basis). Probable and significant decreases in expected cash flows, as a result of further credit deterioration, result in a charge to the provision for credit losses and a corresponding increase to the allowance for credit losses. Probable and significant increases in expected cash flows due to improved credit quality result in recovery of any previously recorded allowance for loan losses, to the extent applicable, and an increase through the accretable yield applied prospectively for any remaining increase. Changes in expected cash flows caused by changes in market interest rates are recognized as adjustments to the accretable yield on a prospective basis. Past Due and Non-Accrual Loans A loan is considered past due for financial reporting purposes if default of contractual principal or interest exists for a period of 30 days or more. Past due loans consist of both loans that are still accruing interest as well as loans on non-accrual status. Loans are placed on non-accrual status when the financial condition of the borrower has deteriorated and payment in full of principal or interest is not expected or the scheduled payment of principal and interest has been delinquent for 90 days or more, unless the loan or finance lease is both well secured and in the process of collection. PCI loans are written down at acquisition to their fair value using an estimate of cash flows deemed to be probable of collecting. Accordingly, such loans are no longer classified as past due or non-accrual even though they may be contractually past due because we expect to fully collect the new carrying values of these loans. Due to the nature of reverse mortgage loans (i.e., there are no required contractual payments due from the borrower), they are considered current for purposes of past due reporting and are excluded from non-accrual loan balances. When a loan is placed on non-accrual status, all previously accrued but uncollected interest is reversed. All future interest accruals, as well as amortization of deferred fees, costs, purchase premiums or discounts are suspended. Where there is doubt as to the recoverability of the original outstanding investment in the loan, the cost recovery method is used and cash collected first reduces the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is collected. Impairment of Finance Receivables Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable, with the estimated value determined using fair value of collateral and other cash flows if the finance receivable is collateralized, the present value of expected future cash flows discounted at the contract’s effective interest rate, or observable market prices. Impaired finance receivables of $500 thousand or greater that are placed on non-accrual status, largely in Commercial Banking, Commercial Real Estate, Commercial Services, and classes within TIF, are subject to periodic individual review by the Company’s problem loan management (“PLM”) function. The Company excludes certain loan and lease portfolios from its impaired finance receivables disclosures as charge-offs are typically determined and recorded for such loans beginning at 90-180 days of contractual delinquency. These include small-ticket loan and lease receivables, largely in Equipment Finance and NSP, and consumer loans, including single family and multi-family residential mortgages, in NAB and LCM that have not been modified in a troubled debt restructuring, as well as short-term factoring receivables in Commercial Services. Charge-off of Finance Receivables Charge-offs on loans are recorded after considering such factors as the borrower’s financial condition, the value of underlying collateral and guarantees (including recourse to dealers and manufacturers), and the status of collection activities. Such charge-offs are deducted from the carrying value of the related finance receivables. This policy is largely applicable in the Commercial Banking, Equipment Finance, Commercial Real Estate, Commercial Services and Transportation Finance loan classes. In general, charge-offs of large ticket commercial loans ($500 thousand or greater) are determined based on the facts and circumstances related to the specific loan and the underlying borrower and the use of judgment by the Company. Charge-offs of small ticket commercial finance receivables are recorded beginning at 90 to 150 days of contractual delinquency. Charge-offs of Consumer loans are recorded beginning at 120 days of delinquency. The value of the underlying collateral will be considered when determining the charge-off amount if repossession is assured and in process. Charge-offs on loans originated are reflected in the provision for credit losses. Charge-offs are recognized on consumer loans for which losses are reimbursable under loss sharing agreements with the FDIC, with a provision benefit recorded to the extent applicable via an increase to the related indemnification asset. Charge-offs on loans with a PAA are first allocated to the respective loan’s discount, then to the extent a charge-off amount exceeds such discount, to provision for credit losses. Collections on accounts charged off in the post- acquisition or post-emergence periods are recorded as recoveries in the provision for credit losses. Collections on accounts that exceed the balance recorded at the date of acquisition are recorded as recoveries in other income. Collections on accounts previously charged off prior to transfer to AHFS are recorded as recoveries in other income. Impairment of Long-Lived Assets A review for impairment of long-lived assets, such as operating lease equipment, is performed at least annually or when events or changes in circumstances indicate that the carrying amount of long-lived assets may not be recoverable. Impairment of assets is determined by comparing the carrying amount to future undiscounted

Acquisition And Disposition Act

Acquisition And Disposition Activities	9 Months Ended
	Sep. 30, 2015
Acquisition And Disposition Activities [Abstract]
Acquisition And Disposition Activities	NOTE 2 — ACQUISITION AND DISPOSITION ACTIVITIES ACQUISITIONS During 2015 and 2014, the Company completed the following significant business acquisitions. OneWest Transaction Effective as of August 3, 2015, CIT acquired IMB, the parent company of OneWest Bank, CIT Bank, a Utah-state chartered bank and a wholly owned subsidiary of CIT, merged with and into OneWest Bank, with OneWest Bank surviving as a wholly owned subsidiary of CIT with the name CIT Bank, National Association. CIT paid approximately $3.4 billion as consideration, comprised of approximately $1.9 billion in cash proceeds, approximately 30.9 million shares of CIT Group Inc. common stock (valued at approximately $1.5 billion at the time of closing), and approximately 168,000 restricted stock units of CIT (valued at approximately $8 million at the time of closing). Total consideration also included $116 million of cash retained by CIT as a holdback for certain potential liabilities relating to IMB and $2 million of cash for expenses of the holders’ representative. The acquisition was accounted for as a business combination, subject to the provisions of ASC 805-10-50, Business Combinations. The acquisition added approximately $21.8 billion of assets, and $18.4 billion of liabilities to CIT’s Consolidated Balance Sheet and 70 branches in Southern California. Primary reasons for the acquisition included advancing CIT’s bank deposit strategy, expanding the Company’s products and services offered to small and middle market customers, and improving CIT’s competitive position in the financial services industry. The assets acquired, liabilities assumed and consideration exchanged were recorded at their estimated fair value on the acquisition date. No allowance for loan losses was carried over and no allowance was created at acquisition. Purchase Price (dollars in millions) Purchase price $ 3,391.6 Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value Cash and interest bearing deposits $ 4,411.6 Investment securities Assets held for sale Loans HFI Indemnification assets Other assets Assets of discontinued operation Deposits Borrowings Other liabilities Liabilities of discontinued operation Total fair value of identifiable net assets $ 2,607.7 Intangible assets $ 185.9 Goodwill $ 598.0 The determination of estimated fair values required management to make certain estimates about discount rates, future expected cash flows (that may reflect collateral values), market conditions and other future events that are highly subjective in nature and may require adjustments, which can be updated throughout the year following the acquisition. As of September 30, 2015, CIT continued to review information relating to events or circumstances existing at the acquisition date. Management anticipates that this continued review could result in adjustments to the acquisition date valuation amounts presented herein but does not anticipate that these adjustments would be material. Cash and Interest Bearing Deposits Acquired cash and cash equivalents of $4.4 billion include cash on deposit with the FRB and other banks, vault cash, deposits in transit, and highly liquid investments with original maturities of three months or less. Given the short-term nature and insignificant risk of changes in value because of changes in interest rates, the carrying amount of the acquired cash and interest bearing deposits was determined to equal fair value. Investment Securities In connection with the OneWest acquisition, the Company acquired a portfolio of mortgage-backed securities (MBS) valued at approximately $1.3 billion as of the acquisition date. This MBS portfolio contains various senior and subordinated non agency MBS, interest-only, and agency securities. Approximately $982 million of these MBS securities were classified as PCI due to evidence of credit deterioration since issuance and for which it is probable that the Company will not collect all contractually required principal and interest payments at the time of purchase. These securities are classified as available-for-sale. The acquisition date fair value of the securities was based on market quotes, where available, or on discounted cash flow techniques using assumptions for prepayment rates, market yield requirements and credit losses where market quotes were not available. Future prepayment rates were estimated based on current and expected future interest rate levels, collateral seasoning and market forecasts, as well as relevant characteristics of the collateral underlying the securities, such as loan types, prepayment penalties, interest rates and recent prepayment experience. Loan Portfolio The acquired loan portfolio, with an aggregate Unpaid Principal Balance (“UPB”) of $15.8 billion and a fair value (“FV”) of $13.6 billion at the acquisition date, is comprised of various types of loan products, including SFR loans, non-SFR loans, jumbo mortgages, commercial real estate loans, Small Business Administration (“SBA”) loans, repurchased GNMA loans, reverse mortgages and commercial and industrial loans. · Single Family Residential – At the acquisition date, OneWest owned a legacy portfolio of SFR loans that had been acquired by OneWest through various portfolio purchases. The UPB and FV at the acquisition date were $6.2 billion and $4.8 billion, respectively. · Non-SFR – The Non-SFR loan portfolio consists mainly of commercial real estate loans secured by various property types, including multifamily, retail, office and other. The UPB and FV at the acquisition date were $1.4 billion and $1.2 billion, respectively. · Jumbo Mortgages – At the acquisition date, OneWest owned a portfolio of recently originated Jumbo Mortgages. The Jumbo Mortgages consist of three different product types: fixed rate, adjustable rate mortgage (“ARM”) and home equity lines of credit (“HELOC”). The UPB and FV at the acquisition date were both $1.4 billion. · Commercial Real Estate – At the acquisition date, OneWest owned a portfolio of recently originated commercial real estate (“CRE”) loans. The CRE loan portfolio consists of loans secured by various property types, including hotel, multifamily, retail, and other. The UPB and FV at the acquisition date were both $2.0 billion. · SBA — At the acquisition date, OneWest owned a portfolio of recently originated SBA loans. The SBA loan portfolio primarily consists of loans provided to small business borrowers and guaranteed by the SBA. The UPB and FV at the acquisition date were both $278 million. · Repurchased GNMA Loans – At the acquisition date, OneWest held a portfolio of loans repurchased from GNMA securitizations under its servicer repurchase program. GNMA allows servicers to repurchase loans from securitization pools after the borrowers have been delinquent for three payments. After repurchase, servicers can work to rehabilitate the loan, and subsequently resell the loan into another GNMA pool. The UPB and FV at the acquisition date were both $78 million. The eight major loan products, including Reverse Mortgages and Commercial & Industrial Loans discussed below, were further stratified into approximately ninety cohorts based on common risk characteristics. Specific valuation assumptions were then applied to these stratifications in the determination of fair value. The stratification of the SFR portfolio cohorts was largely based on product type, while the cohorts for the other products were based on a combination of product type, the Company’s probability of default risk ratings and selected industry groupings. For the SFR portfolio, a waterfall analysis was performed to determine if a loan was PCI. This waterfall analysis was comprised of a series of tests which considered the status of the loan (delinquency, foreclosure, etc.), the payment history of the borrowers over the prior two years, collateral coverage of the loan based on the loan-to-value ratio (“LTV”), and changes in borrower FICO scores. Loans that “passed” each of the tests were considered non-PCI and all others were deemed to have some impairment and, thus, classified as PCI. The PCI determination for the other asset classes was largely based on the Company’s probability of default risk ratings. The above acquired loan portfolios were valued using the direct method of the income approach. The income approach derives an estimate of value based on the present value of the projected future cash flows of each loan using a discount rate which incorporates the relevant risks associated with the asset and time value of money. To perform the valuation, all credit and market aspects of these loans were evaluated, and the appropriate performance assumptions were determined for each portfolio. In general, the key cash flow assumptions relating to the above acquired loan portfolios were: prepayment rate, default rate, severity rate, modification rate, and the recovery lag period, as applicable. Reverse Mortgages – OneWest Bank held a portfolio of jumbo reverse mortgage loans. The reverse mortgage loan portfolio consists of loans made to elderly borrowers in which the bank makes periodic advances to the homeowner, and, in return, at some future point the bank could take custody of the home upon occurrence of a termination event. A termination event includes such events as the death of the homeowner, the relocation of the homeowner, or a refinancing of the mortgage. The UPB and FV at the acquisition date were $1.1 billion and $811 million, respectively. The reverse mortgage portfolio was valued using the direct method of the income approach. To perform the valuation for the reverse mortgage portfolio we considered all credit aspects of the mortgage portfolio (e.g., severity), selected appropriate performance assumptions related to advances, interest rates, prepayments (e.g. mortality), home price appreciation, actuarial and severity, projected cash flows utilizing the selected assumptions, and ultimately performed a discounted cash flow analysis on the resulting projections. The key terminal cash flow projections were based on two assumptions: (1) the prepayment rate, and (2) the severity. Reverse mortgage borrowers prepay, or terminate, their loans upon a termination event such as the death or relocation of the homeowner. Such mortality and mobility events, respectively, constitute the prepayment rate for reverse mortgages. · Commercial and Industrial Loans – OneWest had recently originated a portfolio of commercial and industrial (C&I) loans. The C&I loan portfolio consists of term loans and lines of credit provided to businesses across different industries. The UPB and FV at the acquisition date were $3.3 billion and $3.1 billion, respectively. The non-PCI portion of the C&I portfolio was valued using the indirect method of the income approach. The indirect method was selected as it is the most common method used in the valuation of commercial loans, which are valued based on an all-in discount rate. To perform the valuation, we considered all credit risks of the non-PCI portion of the C&I portfolio within the discount rate, selecting an all-in discount rate which fully captures the risk associated with the loan rating. The PCI portion of the C&I portfolio was valued by applying valuation marks based on CIT’s PD and LGD framework and supporting those prices by using the direct method of the income approach. To perform the valuation a recovery analysis was applied based on the probability of default and loss given default assigned to each loan. The direct method was used for the PCI loans in order to capture either the existing defaulted, or near defaulted, nature of the loans. The table below summarizes the key valuation input assumptions by major product type: Discount Rate Severity Rate Prepayment Rate Default Rate Product Type Range Weighted Avg. Range Weighted Avg. Range Weighted Avg. Range Weighted Avg. SFR 4.6% - 12.1% 6.9% (1) (1) (1) (1) (1) (1) Non-SFR 5.1% - 10.0% 6.0% 36.6% - 60.9% 45.8% 1.0% - 6.0% 3.4% 0.2% - 82.4% 11.0% Jumbo Mortgages 3.3% - 4.2% 3.4% 0.0% - 10.0% 2.7% 10.0% - 18.0% 13.9% 0.0% - 0.2% 0.0% Commercial Real Estate 4.2% - 5.0% 4.5% 15.0% - 35.0% 19.3% 1.5% - 6.0% 4.6% 0.6% - 14.7% 1.4% SBA 4.2% - 7.3% 5.1% 25.0% 25.0% 2.0% - 5.0% 4.9% 3.0% - 24.9% 3.4% Repurchased GNMA T + 0.9% 2.1% 0.0% - 13.5% 6.4% 0.0% - 7.3% 3.4% 0.0% - 8.8% 4.2% Reverse Mortgages 10.5% 10.5% (2) (2) (3) (3) NA (4) NA C&I Loans 5.3% - 8.4% 6.0% NA NA NA NA NA NA (1) SFR Severity, Prepayment and Default Rates were based on portfolio historic delinquency migration and loss experience. (2) Reverse mortgage severity rates were based on HPI and LTV. (3) Reverse mortgage prepayment rates were based on mobility and mortality curves. (4) NA means not applicable. Indemnification Assets As part of the OneWest Transaction, CIT is party to loss share agreements with the FDIC , which provide for the indemnification of certain losses within the terms of these agreements. These loss share agreements are related to OneWest Bank’s previous acquisitions of IndyMac, First Federal and La Jolla. The loss sharing agreements generally require CIT Bank, N.A. to obtain FDIC approval prior to transferring or selling loans and related indemnification assets. Eligible losses are submitted to the FDIC for reimbursement when a qualifying loss event occurs (e.g., loan modification, charge-off of loan balance or liquidation of collateral). The loss share agreements cover the SFR loans acquired from IndyMac, First Federal, and La Jolla. In addition, the IndyMac loss share agreement covers the reverse mortgage loans. The IndyMac agreement was signed on March 19, 2009 and the SFR indemnification expires on the tenth anniversary of the agreement. The First Federal loss share agreement was signed on December 18, 2009 and expires on the tenth anniversary of the agreement. The La Jolla loss share agreement was signed on February 19, 2010 and expires on the tenth anniversary of the agreement. These agreements are accounted for as indemnification assets which were recognized as of the acquisition date at their assessed fair value of $480.7 million. The First Federal and La Jolla loss share agreements also include certain true-up provisions for amounts due to the FDIC if actual and estimated cumulative losses of the acquired covered assets are projected to be lower than the cumulative losses originally estimated at the time of OneWest Bank's acquisition of the covered loans. Upon acquisition, CIT established a separate liability for these amounts due to the FDIC associated with the LJB loss share agreement at the assessed fair value of $56.3 million. The indemnification assets were valued using the direct method of the income approach. The income approach derives an estimate of value based on the present value of the projected future cash flows allocated to each of the loss share agreements using a discount rate which incorporates the relevant risks associated with the asset and time value of money. To perform the valuation, we made use of the projected losses for each of the relevant loan portfolios, as discussed in each loan portfolio section above, as well as the contractual terms of the loss share agreements. As the indemnification assets relate to cash flows to be received from the FDIC, a government agency, we considered a discount rate reflective of the risk of the FDIC. Conversely, as true-up payments to be made in the future are liabilities, we selected a discount rate reflective of CIT’s borrowing rates for a similar term. Goodwill and Intangible Assets The goodwill recorded is attributable to advancing CIT’s bank deposit strategy, by expanding the Company’s products and services offered to small and middle market customers, improving CIT’s competitive position in the financial services industry and related synergies that are expected to result from the acquisition. The amount of goodwill recorded ($598 million) represents the excess of the purchase price over the estimated fair value of the net assets acquired by CIT, including intangible assets. See Note 23 – Goodwill and Intangible Assets for a description of goodwill recognized along with the reporting units within the NAB and LCM segments that recorded goodwill. Goodwill related to this transaction is not deductible for income tax purposes. The intangible assets recorded related primarily to the valuation of existing core deposits, customer relationships and trade names recorded in conjunction with the OneWest Transaction. Intangible assets acquired, as of August 3, 2015 consisted of the following: Intangible Assets (dollars in millions) Intangible Assets Fair Value Estimated Useful Life Amortization Method Core deposit intangibles 7 years Straight line Trade names 10 years Straight line Customer relationships 10 years Accelerated Other 3 years Straight line Total $ 185.9 See Note 23 — Goodwill and Intangible Assets , for further discussion of the accounting for goodwill and other intangible assets. · Core Deposit Intangibles — Certain core deposits were acquired as part of the transaction, which provide an additional source of funds for CIT. The core deposit intangibles represent the costs saved by CIT by acquiring the core deposits and not needing to source the funds elsewhere. This intangible was valued using the income approach: cost savings method. · OneWest Trade Name — OneWest’s brand is recognized in the Financial Services industry, as such, OneWest’s brand name reputation and positive brand recognition embodied in its trade name was valued using the income approach: relief from royalty method. · Customer Relationships — Certain commercial borrower customer relationships were acquired as part of the transaction. The acquired customer relationships were valued using the income approach: multi-period excess earnings method. · Other — Relates to certain non-competition agreements which limit specific employees from competing in related businesses of CIT. This intangible was valued using the income approach: with-and-without method. See Note 23 — Goodwill and Intangible Assets , for further discussion of the accounting for goodwill and other intangible assets. Other Assets Acquired other assets of $0.7 billion include items such as investment tax credits, OREO, deferred federal and state tax assets, property, plant and equipment (“PP&E”), an FDIC receivable, as well as accrued interest and other receivables. Investment tax credits — As of the acquisition date, OneWest’s most significant tax credit investments were in several funds specializing in the financing and development of low-income housing (“LIHTC”). Our fair value analysis of the LIHTC investments took into account the ongoing equity installments regularly allocated to the underlying tax credit funds, along with changes to projected tax benefits and the impact this has on future capital contributions. CIT’s assessment of the investment tax credits primarily consisted of applying discount rates ranging from 4% — 6% to projected cash flows. As a result of this analysis, CIT determined that the fair value of the tax credit assets was approximately $114 million (the fair value of associated future funding commitments is separately recorded as a liability at its fair value of $19.3 million). At acquisition, OneWest also held smaller investments in funds promoting film production and renewable energy; these were recorded at their acquisition fair value of approximately $21 million based on CIT’s consideration of market based indications of value. · OREO — A portfolio of real estate assets acquired over time as part of the foreclosure process associated with mortgages on real estate. OREO assets primarily include single family residences, and also include land, multi-family, medical office, and condominium units. OREO assets are actively marketed for sale and carried by OneWest at the lower of its carrying amount or estimated fair value less disposition costs. Estimated fair value is generally based upon broker price opinions and independent appraisals, modified based on assumptions and expectations determined by management. CIT reviewed the OREO carried in Other assets and concluded that the net book value of $132.4 million at the acquisition date was a reasonable approximation of fair value. · Property Plant and Equipment — The operations of the Company are supported by various property, plant and equipment (“PP&E”) assets. The PP&E assets broadly include real and personal property used in the normal course of the company’s daily operations. CIT considered the income, market, and cost approaches in estimating the fair value of the PP&E. The owned real estate assets were valued under the income approach to derive property level fair value estimates. The underlying assets, including the land, buildings, site improvements, and leases-in-place were discretely valued using the cost and market approaches. Furniture and fixtures were reviewed and it was found that the depreciated book value was a reasonable proxy for fair value. Based on our analysis, the fair value of the PP&E was estimated at $61.4 million. The valuation resulted in a premium of approximately $23.6 million. · FDIC Receivable - CIT acquired a receivable with the FDIC representing a secured interest in certain homebuilder, home construction and lot loans. The secured interest entitles the Company to 40% of the underlying cash flows. The Company recorded this receivable at its estimated acquisition date fair value of $54.8 million. The fair value was estimated based on cash flows expected to be collected from the Company’s participation interest in the underlying collateral. The underlying cash flows include estimated amounts expected to be collected from repayment of loan principal and interest and net proceeds from property liquidations. These cash flows are offset by amounts paid for servicing expenses, management fees, and liquidation expenses. Deposits Deposits of $14.5 billion included $8,327.6 million with no stated maturities and Certificates of Deposit (CDs) that totaled $6,205.7 million. For deposits with no stated maturities (primarily checking and savings deposits), fair value was assumed to equal the carrying value, therefore no PAA was recorded. The CDs had maturities ranging from 3 months to 5 years and were valued using the indirect method of the income approach, which was based on discounting the cash flows associated with the CDs. Value under the indirect method was a function of the projected contractual cash flows of the fixed term deposits and a credit adjusted discount rate, as observed from similar risk instruments, based on the platform in which the deposit was originated. In order to best capture the features and risks, CDs were grouped along two dimensions, maturity groups, based on the remaining term of the fixed deposits (e.g., 0 to 1 year, 1 to 2 years, etc.) and origination channel (e.g., Branch or Online). Contractual cash flows of each CD group were projected, related to interest accrual and principal and interest repayment, for the CDs over the remaining term of each deposit pool. Upon the maturity of each group, the accumulated interest and principal are repaid to the depositor. Each underlying fixed term CD had a contractual interest rate, and the weighted average interest rate for each group was calculated. The weighted average interest rate of each group was used to forecast the accumulated interest to be repaid at maturity. The applicable discount rate for each group of CDs reflected the maturity and origination channel of that group. The selected discount rate for all channels other than Branch was based on the observed difference in OneWest Bank origination rates between channels, added to the selected Branch channel rate of the same maturity. The discount rates ranged from 0.25 percent to 1.38 percent. The valuation resulted in a PAA premium of $29.0 million. Borrowings Borrowings of $3.0 billion consisted of FHLB advances that included fixed rate credit (“FRC”), adjustable rate credit (“ARC”), and overnight (“Fed Funds Overnight”) borrowing. The FHLB advances were valued using the indirect method of the income approach, which is based on discounting the cash flows associated with the borrowing. Value under the indirect method is a function of the projected contractual cash flows of the FHLB borrowing and a discount rate matching the type of FHLB borrowing, as observed from recent FHLB Advance rates. The applicable discount rate for each borrowing type was observed based on rates published by the FHLB. Each FHLB borrowing has a contractual interest rate, interest payment terms, and a stated maturity date; therefore, cash flows of each FHLB borrowing was projected to match its contractual terms of repayment, both principal and interest, and then discounted to the valuation date. For Fed Funds Overnight borrowing, as these borrowings are settled overnight, the Fair Value is assumed to be equal to the outstanding balance, as the interest rate resets to the market rate overnight. The applicable discount rate for each borrowing ranged from 0.15 percent to 0.89 percent. The valuation resulted in a PAA premium of $6.8 million. Other Liabilities – include various amounts accrued for compensation related costs, a separate reserve for credit losses on off-balance sheet commitments, liabilities associated with economic hedges, and commitments to invest in the LIHTC noted above. Mortgage Servicing Rights CIT acquired certain reverse mortgage servicing rights (“MSRs”) accounted for as a servicing liability with an acquisition date fair value of approximately $10 million, which are included in discontinued operations. MSRs are accounted for as separate assets or liabilities only when servicing is contractually separated from the underlying mortgage loans 1) by sale or securitization of the loans with servicing retained or 2) by separate purchase or assumption of the servicing. Under the servicing agreements, the Company performs certain accounting and reporting functions for the benefit of the related mortgage investors. For performing such services, the Company receives a servicing fee. MSRs represent a contract for the right to receive future revenue associated with the servicing of financial assets and thus are considered a non-financial asset. The acquisition date estimated fair value was based on observable market data and to the extent such information is not available, CIT determined the estimated fair value of the MSRs using discounted cash flow techniques using a third-party valuation model. Estimates of fair value involve several assumptions, including market expectations of future prepayment rates, interest rates, discount rates, servicing costs and default rates, all of which are subject to change over time. Assumptions are evaluated for reasonableness in comparison to actual performance, available market and third party data. CIT will evaluate the acquired MSRs for potential impairment using stratification based on one or more predominant risk characteristics of the underlying financial assets such as loan vintage. The MSRs are amortized in proportion to and over the period of estimated net servicing income and the amortization is recorded as an offset to Loan servicing fee, net. The amortization of MSRs is analyzed at least quarterly and adjusted to reflect changes in prepayment speeds, delinquency rates, as well as other factors. CIT will recognize OTTI when it is probable that all or part of the valuation allowance for impairment (recognized under LOCOM) will not be recovered within the foreseeable future. For this purpose, the foreseeable future shall not exceed a period of two years. The Company will assess a servicing asset or liability for OTTI when conditions exist or events occur indicating that OTTI may exist (e.g., a severe or extended decline in estimated fair value). Unaudited Pro Forma Information The estimated amount of OneWest Bank net finance revenue and pre-tax income from continuing operations for the period from August 3, 2015 to September 30, 2015 of $134 million and $49 million, respectively, was included in CIT’s consolidated income statement for the quarter and nine months ended September 30, 2015. Upon closing the transaction and integrating OneWest Bank, effective August 3, 2015, separate records for OneWest Bank as a stand-alone business have not been maintained as the operations have been integrated into CIT. OneWest Bank net finance revenue and earnings disclosed above reflect management’s best estimate, based on information available at the reporting date. The following table presents certain unaudited pro forma information for illustrative purposes only, for the nine months ended September 30, 2015 and 2014 as if OneWest Bank had been acquired on January 1, 2014. The unaudited estimated pro forma information combines the historical results of OneWest Bank with the Company’s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition taken place on January 1, 2014. Further, the unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value by OneWest Bank prior to the acquisition, which in turn did not require an allowance for loan losses. The pro forma financial information does not include the impact of possible business changes or synergies.The preparation of the pro forma financial information includes adjustments to conform accounting policies between OneWest Bank and CIT, specifically related to (1) adjustments to remove the fair value adjustments previously recorded by OneWest Bank on $4.4 billion of loan balances and record income on a level yield basis, reflecting the adoption of ASC 310-20 and ASC 310-30 for loans, depending on whether the loans were determined to be purchased credit impaired; and (2) adjustments to remove the fair value adjustments previously recorded by OneWest Bank on $500 million of borrowings and record interest expense in accordance with ASC 835-30. The pro forma financial information in the table below reflects the total impact ( $1,022 million) of income tax benefits recognized by the Company in 2014 and 2015 ( $375 million and $647 million for the nine months ended September 30, 2014 and 2015, respectively) in the 2014 period, assuming for the purpose of preparing the pro forma information that the acquisition of OneWest Bank had occurred on January 1, 2014. These tax benefits, which related to the reduction in the Company’s deferred tax asset valuation allowance, do not have a continuing impact. Similarly, in connection with the OneWest Transaction, CIT incurred acquisition and integration costs recognized by the Company during the nine months ended September 30, 2014 and 2015 of approximately $5 million and $41 million, respectively. For the purpose of preparing the pro forma information, these acquisition and integration costs have been reflected as if the acquisition had occurred on January 1, 2014. Additionally, CIT expects to achieve operating cost savings and other business synergies as a result of the acquisition that are not reflected in the pro forma amounts that follow. Therefore, actual results may differ from the unaudited pro forma information presented and the differences could be significant. Unaudited Pro Forma (dollars in millions) September 30, 2015 2014 Net finance revenue $ 2,348.6 $ 2,435.6 Net income Nacco Acquisition On January 31, 2014, CIT acquired 100% of the outstanding shares of Paris-based Nacco SAS (“Nacco”), an independent full service railcar lessor in Europe. The purchase price was approximately $250 million and the acquired assets and liabilities were recorded at their estimated fair values as of the acquisition date, resulting in $77 million of goodwill. The purchase included approximately $650 million of assets (operating lease equipment), comprised of more than 9,500 railcars, including tank cars, flat cars, gondolas and hopper cars, and liabilities, including secured debt of $375 million. Direct Capital Acquisition On August 1, 2014, CIT Bank acquired 100% of the outstanding shares of Capital Direct Group and its subsidiaries (“Direct Capital”), a U.S. based lender providing equipment financing to small and mid-sized businesses operating across a range of industries. The purchase price was approximately $230 million and the acquired assets and liabilities were recorded at thei

Loans

Loans	9 Months Ended
	Sep. 30, 2015
Loans [Abstract]
Loans	NOTE 3 — LOANS The following tables and data as of September 30, 2015 include the loan balances acquired in the OneWest Transaction, which were recorded at fair value at the time of the acquisition (August 3, 2015). See Note 2 — Acquisition and Disposition Activities for details of the OneWest Transaction. Finance receivables, excluding those reflected as discontinued operations, consist of the following: Finance Receivables by Product (dollars in millions) September 30, December 31, 2015 2014 Commercial Loans $ 21,860.1 $ 14,850.8 Direct financing leases and leveraged leases Total commercial Consumer Loans - Total finance receivables Finance receivables held for sale Finance receivables and held for sale receivables (1) $ 34,381.2 $ 20,274.9 (1) Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment primarily related to portfolios in Canada, China and the U.K. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table. In preparing the interim financial statements for the quarter ended September 30, 2015, the Company discovered and corrected an immaterial error impacting the classification of balances for Commercial loans and Direct financing leases and leverage leases in the amount of $452.6 million as of December 31, 2014. The reclassification had no impact on the Company’s Balance Sheet and Statements of Operations or Cash Flows for any period. The following table presents finance receivables by segment, based on obligor location: Finance Receivables (dollars in millions) September 30, 2015 December 31, 2014 Domestic Foreign Total Domestic Foreign Total Transportation & International Finance $ 713.0 $ 2,592.5 $ 3,305.5 $ 812.6 $ 2,746.3 $ 3,558.9 North American Banking Legacy Consumer Mortgages - - - Non-Strategic Portfolios - - - - Total $ 29,393.9 $ 3,012.3 $ 32,406.2 $ 15,457.7 $ 4,037.3 $ 19,495.0 The following table presents selected components of the net investment in finance receivables: Components of Net Investment in Finance Receivables (dollars in millions) September 30, December 31, 2015 2014 Unearned income $ (879.6) $ (1,037.8) Unamortized premiums/(discounts) Accretable yield on PCI loans - Net unamortized deferred costs and (fees) Certain of the following tables present credit-related information at the “class” level in accordance with ASC 310-10-50, Disclosures about the Credit Quality of Finance Receivables and the Allowance for Credit Losses . A class is generally a disaggregation of a portfolio segment. In determining the classes, CIT considered the finance receivable characteristics and methods it applies in monitoring and assessing credit risk and performance. Credit Quality Information Commercial obligor risk ratings are reviewed on a regular basis by Credit Risk Management and are adjusted as necessary for updated information affecting the borrowers’ ability to fulfill their obligations. The definitions of the commercial loan ratings are as follows: Pass – finance receivables in this category do not meet the criteria for classification in one of the categories below. Special mention – a special mention asset exhibits potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects. Classified – a classified asset ranges from: (1) assets that exhibit a well-defined weakness and are inadequately protected by the current sound worth and paying capacity of the borrower, and are characterized by the distinct possibility that some loss will be sustained if the deficiencies are not corrected to (2) assets with weaknesses that make collection or liquidation in full unlikely on the basis of current facts, conditions, and values. Assets in this classification can be accruing or on non-accrual depending on the evaluation of these factors. The following table summarizes commercial finance receivables by the risk ratings that bank regulatory agencies utilize to classify credit exposure and which are consistent with indicators the Company monitors. The consumer loan risk profiles are different from commercial loans, and use loan-to-value (“ LTV ”) ratios in rating the credit quality, and therefore are presented separately below. Commercial Finance and Held for Sale Receivables – Risk Rating by Class / Segment (dollars in millions) Grade: Pass Special Mention Classified- accruing Classified- non-accrual PCI Loans Total September 30, 2015 Transportation & International Finance Aerospace $ 1,575.4 $ 71.5 $ 54.0 $ 4.7 $ - $ 1,705.6 Rail - - Maritime Finance - - - International Finance - Total TIF - North American Banking Commercial Banking Equipment Finance - Commercial Real Estate Commercial Services - - Consumer Banking - - - - Total NAB $ 20,657.5 $ 1,393.7 $ 687.9 $ 156.3 $ 207.4 $ 23,102.8 Non- Strategic Portfolios $ 53.4 $ 1.8 $ 0.5 $ 4.5 $ - Total Commercial $ 24,594.9 $ 1,528.2 $ 863.7 $ 212.9 $ 207.4 $ 27,407.1 December 31, 2014 Transportation & International Finance Aerospace $ 1,742.0 $ 11.4 $ 43.0 $ 0.1 $ - $ 1,796.5 Rail - - Maritime Finance - - - - International Finance - Total TIF - North American Banking - Commercial Banking - Equipment Finance - Commercial Real Estate - - - Commercial Services - - Total NAB $ 14,104.2 $ 1,254.2 $ 499.5 $ 100.9 $ - $ 15,958.8 Non- Strategic Portfolios $ 288.7 $ 18.4 $ 10.5 $ 22.4 $ - Total Commercial $ 18,109.0 $ 1,393.3 $ 612.1 $ 160.5 $ - $ 20,274.9 For consumer loans, the Company monitors credit risk based on indicators such as delinquencies and LTV, which the Company believes are relevant credit quality indicators. LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. We examine LTV migration and stratify LTV into categories to monitor the risk in the loan classes. The following table provides a summary of the consumer portfolio credit quality. The amounts represent the carrying value, which differ from unpaid principal balances, and include the premiums or discounts and the accretable yield and non-accretable difference for PCI loans recorded in purchase accounting. Included in the consumer finance receivables are “covered loans” for which the Company can be reimbursed for a substantial portion of future losses under the terms of loss sharing agreements with the FDIC. Covered loans are discussed further in Note 5 – Indemnif ication Assets . There are no prior period balances in the below table as the Company did not have consumer loans prior to the acquisition of OneWest Bank. Consumer Loan LTV Distributions at September 30, 2015 (dollars in millions) Single Family Residential Reverse Mortgage (1) Covered Loans Non-covered Loans Total Single Family Covered Loans Non-covered loans Total Reverse Total Non- PCI PCI Non- PCI PCI Residential Non- PCI Non- PCI PCI Mortgages Consumer Loans Greater than 125% $ 1.3 $ 464.5 $ 0.4 $ 18.3 $ 484.5 $ 0.9 $ 1.3 $ 39.2 $ 41.4 $ 525.9 101% - 125% 80% - 100% Less than 80% Not Applicable (2) - - - - - - - Total $ 2,140.4 $ 2,498.6 $ 1,338.3 $ 54.8 $ 6,032.1 $ 456.9 $ 357.9 $ 82.3 $ 897.1 $ 6,929.2 (1) Certain Consumer Loans do not have LTV’s, including the Credit Card portfolio. The following table summarizes the covered loans by segment: Covered Loans (dollars in millions) PCI Non-PCI Total LCM loans HFI at crrying value $ 2,498.6 $ 2,597.3 $ 5,095.9 Past Due and Non-accrual Loans The table that follows presents portfolio delinquency status, regardless of accrual/non-accrual classification: Finance and Held for Sale Receivables – Delinquency Status (dollars in millions) Past Due 30–59 Days 60–89 Days 90 Days or Total Past Past Due Past Due Greater Due Current (1) PCI Loans (2) Total Finances Receivable September 30, 2015 Transportation & International Finance Aerospace $ - $ 17.1 $ 4.7 $ 21.8 $ 1,683.8 $ - $ 1,705.6 Rail - Maritime Finance - - - - - International Finance - Total TF - North American Banking Commercial Banking Equipment Finance - Commercial Real Estate - - Commercial Services - Consumer Banking - - - Total NAB Legacy Consumer Mortgages Single family residential mortgages Reverse mortgages - - - - Total LCM Non-Strategic Portfolios - Total $ 157.2 $ 68.4 $ 71.8 $ 297.4 $ 31,240.7 $ 2,843.1 $ 34,381.2 December 31, 2014 Transportation & International Finance Aerospace $ - $ - $ 0.1 $ 0.1 $ 1,796.4 $ - $ 1,796.5 Rail - Maritime Finance - - - - - International Finance - Total TF - North American Banking Commercial Banking - - Equipment Finance - Commercial Real Estate - - - - - Commercial Services - Total NAB - Non-Strategic Portfolios - Total $ 225.8 $ 52.0 $ 51.8 $ 329.6 $ 19,945.3 $ - $ 20,274.9 (1) Due to their nature, reverse mortgage loans are included in Current, as they do not have contractual payment s due at a specified time. (2) PCI loans are written down at acquisition to their fair value using an estimate of cash flows deemed to be collectible. Accordingly, such loans are no longer classified as past due or non-accrual even though they may be contractually past due as we expect to fully collect the new carrying values of these loans. Non-accrual loans include loans that are individually evaluated and determined to be impaired (generally loans with balances greater than $500,000 ), as well as other, smaller balance loans placed on non-accrual due to delinquency (generally 90 days or more for smaller commercial loans and 120 or more days regarding real estate mortgage loans). Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. The following table sets forth non-accrual loans, assets received in satisfaction of loans (repossessed assets and OREO) and loans 90 days or more past due and still accruing. Finance Receivables on Non-Accrual Status (dollars in millions) September 30, 2015 December 31, 2014 Held for Investment Held for Sale Total Held for Investment Held for Sale Total Transportation & International Finance Aerospace $ 4.7 $ - $ 4.7 $ 0.1 $ - $ 0.1 International Finance - Total TF North American Banking Commercial Banking - Equipment Finance - Commercial Real Estate - - - - Total NAB - Legacy Consumer Mortgages Single family residential mortgages - - - Total LCM - - - Non-Strategic Portfolios - - Total $ 151.5 $ 63.2 $ 214.7 $ 123.4 $ 37.1 $ 160.5 Repossessed assets and OREO Total non-performing assets $ 342.6 $ 161.3 Commercial loans past due 90 days or more accruing Consumer loans past due 90 days or more accruing Total Accruing loans past due 90 days or more $ 10.6 $ 10.3 Payments received on non-accrual financing receivables are generally applied first against outstanding principal, though in certain instances where the remaining recorded investment is deemed fully collectible, interest income is recognized on a cash basis. Reverse mortgages are not included in the non-accrual balances. Loans in Process of Foreclosure The table below summarizes the residential mortgage loans in the process of foreclosure and OREO as of September 30, 2015: Loans in Process of Foreclosure (dollars in millions) September 30, 2015 PCI $ 350.7 Non-PCI Loans in process of foreclosure $ 435.1 OREO $ 122.0 Impaired Loans The Company’s policy is to review for impairment finance receivables greater than $500,000 that are on non-accrual status. Consumer and small-ticket loan and lease receivables t hat have not been modified in a restructuring, as well as short-term factoring receivables, are included (if appropriate) in the reported non-accrual balances above, but are excluded from the impaired finance receivables disclosure below as charge-offs are typically determined and recorded for such loans when they are more than 90 – 150 days past due. The following table contains information about impaired finance receivables and the related allowance for loan losses by class, exclusive of finance receivables that were identified as impaired at the Acquisition Date for which the Company is applying the income recognition and disclosure guidance in ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorated Credit Quality ), which are disclosed further below in this note. Impaired loans exclude PCI loans. Impaired Loans (dollars in millions) Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (3) September 30, 2015 (2) With no related allowance recorded: Transportation & International Finance International Finance $ - $ - $ - $ 6.5 North America Banking Commercial Banking - Equipment Finance - Commercial Real Estate - Commercial Services - With an allowance recorded: Transportation & International Finance Aerospace International Finance - - - North America Banking Commercial Banking Equipment Finance Total Impaired Loans (1) December 31, 2014 With no related allowance recorded: International Finance $ 10.2 $ 17.0 $ - $ 10.1 Commercial Banking - Equipment Finance - Commercial Services - Non-Strategic Portfolios - - - With an allowance recorded: Aerospace - - - International Finance Commercial Banking Equipment Finance - - - Commercial Services - - - Total Impaired Loans (3) Total Loans Impaired at Convenience Date (2) Total $ 58.0 $ 85.3 $ 12.9 $ 217.0 (1) Interest income recorded for the nine months ended September 30, 2015 and the year ended December 31, 2014 while the loans were impaired were $0.8 million and $10.1 million of which $0.7 million was interest recognized using cash-basis method of accounting. (2) Details of finance receivables that were identified as impaired at the Acquisition Date are presented under Loans Acquired with Deteriorated Credit Quality. (3) Average recorded investment for the nine months ended September 30, 2015 and year ended December 31, 2014. Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. For commercial loans, the Company has established review and monitoring procedures designed to identify, as early as possible, customers that are experiencing financial difficulty. Credit risk is captured and analyzed based on the Company’s internal probability of obligor default (PD) and loss given default (LGD) ratings. A PD rating is determined by evaluating borrower credit-worthiness, including analyzing credit history, financial condition, cash flow adequacy, financial performance and management quality. An LGD rating is predicated on transaction structure, collateral valuation and related guarantees or recourse. Further, related considerations in determining probability of collection include the following: Instances where the primary source of payment is no longer sufficient to repay the loan in accordance with terms of the loan document; Lack of current financial data related to the borrower or guarantor; Delinquency status of the loan; Borrowers experiencing problems, such as operating losses, marginal working capital, inadequate cash flow, excessive financial leverage or business interruptions; Loans secured by collateral that is not readily marketable or that has experienced or is susceptible to deterioration in realizable value; and Loans to borrowers in industries or countries experiencing severe economic instability. Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable. A specific allowance or charge-off is recorded for the shortfall. In instances where the estimated value exceeds the recorded investment, no specific allowance is recorded. The estimated value is determined using fair value of collateral and other cash flows if the finance receivable is collateralized, the present value of expected future cash flows discounted at the contract’s effective interest rate, or market price. A shortfall between the estimated value and recorded investment in the finance receivable is reported in the provision for credit losses. In instances when the Company measures impairment based on the present value of expected future cash flows, the change in present value is reported in the provision for credit losses. The following summarizes key elements of the Company’s policy regarding the determination of collateral fair value in the measurement of impairment: “Orderly liquidation value” is the basis for collateral valuation; Appraisals are updated annually or more often as market conditions warrant; and Appraisal values are discounted in the determination of impairment if the: appraisal does not reflect current market conditions; or collateral consists of inventory, accounts receivable, or other forms of collateral that may become difficult to locate, or collect or may be subject to pilferage in a liquidation. Loans Acquired with Deteriorated Credit Quality For purposes of this presentation, the Company is applying the income recognition and disclosure guidance in ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorated Credit Quality ) to loans that were identified as impaired as of the acquisition date of OneWest Bank. PCI loans were initially recorded at estimated fair value with no allowance for loan losses carried over, since the initial fair values reflected credit losses expected to be incurred over the remaining lives of the loans. The acquired loans are subject to the Company’s internal credit review. See Note 4 — Allowance for Loan Losses. Purchased Credit Impaired Loans at September 30, 2015 (dollars in millions) (1) Unpaid Principal Balance Carrying Value Allowance for Loan Losses North America Banking Commercial Banking $ 149.1 $ 101.0 $ - Commercial Real Estate - Legacy Consumer Mortgages Single family residential mortgages - Reverse mortgages $ 4,160.6 $ 2,843.1 $ 0.4 (1) PCI loans from prior transactions were not significant and are not included. An accretable yield is measured as the excess of the cash flows expected to be collected, estimated at the acquisition date, over the recorded investment (estimated fair value at acquisition) and is recognized in interest income over the remaining life of the loa n, or pool of loans, on an effective yield basis. The difference between the cash flows contractually required to be paid, measured as of the acquisition date, over the expected cash flows is referred to as the non-accretable difference. Subsequent to acquisition, we evaluate our estimates of the cash flows expected to be collected on a quarterly basis. Probable and significant d ecreases in expected cash flows as a result of further credit deterioration result in a charge to the provision for credit losses and a corresponding increase to the allowance for credit losses. Probable and significant i ncreases in expected cash flows due to improved credit quality result in re versal of any previously recorded allowance for loan losses, to the extent applicable, and an increase in the accretable yield applied prospectively for any remaining increase. Changes in expected cash flows caused by changes in market interest rates or by prepayments are recognized as adjustments to the accretable yield on a prospective basis. The following table summarizes commercial PCI loans, which are monitored for credit quality based on internal risk classifications as of September 30, 2015. See previous table Consumer Loan LTV Distributions for credit quality metrics on consumer PCI loans. September 30, 2015 (in thousands of dollars) Non-criticized Criticized Total Commercial Banking $ 21.7 $ 79.3 $ 101.0 Commercial Real Estate $ 53.7 $ 153.7 $ 207.4 Accretable Yield The excess of cash flows expected to be collected over the recorded investment (estimated fair value at acquisition) of the PCI loans represents the accretable yield and is reco gnized in interest income on an effective yield basis over the remaining life of the loan, or pools of loans. The accretable yield is adjusted for changes in interest rate indices for variable rate PCI loans, changes in prepayment assumptions and changes in expected principal and interest payments and collateral values. Further, if a loan within a pool of loans is modified, the modified loan remains part of the pool of loans. The following table provides details on PCI loans acquired in connection with the OneWest Transaction on August 3, 2015. PCI Loans at Acquisition Date (dollars in millions) Consumer Commercial Total Contractually required payments, including interest Less: Non-accretable difference Cash flows expected to be collected(1) Less: Accretable yield Fair value of loans acquired at acquisition date (1) Represents undiscounted expected principal and interest cash flows at acquisition . Changes in the accretable yield for PCI loans since the OneWest transaction are summarized below for the quarter ended September 30, 2015: Accretable (dollars in millions) Yield Balance at August 3, 2015 $ 1,201.8 Accretion into interest income Reclassification from nonaccretable difference for loans due to improving cash flows Disposals and Other Balance at September 30, 2015 $ 1,163.9 Troubled Debt Restructurings The Company periodically modifies the terms of finance receivables in response to borrowers’ difficulties. Modifications that include a financial concession to the borrower are accounted for as troubled debt restructurings (TDRs). CIT uses a consistent methodology across all loans to determine if a modification is with a borrower that has been determined to be in financial difficulty and was granted a concession. Specifically, the Company’s policies on TDR identification include the following examples of indicators used to determine whether the borrower is in financial difficulty: Borrower is in default with CIT or other material creditor Borrower has declared bankruptcy Growing doubt about the borrower’s ability to continue as a going concern Borrower has (or is expected to have) insufficient cash flow to service debt Borrower is de-listing securities Borrower’s inability to obtain funds from other sources Breach of financial covenants by the borrower. If the borrower is determined to be in financial difficulty, then CIT utilizes the following criteria to determine whether a concession has been granted to the borrower: Assets used to satisfy debt are less than CIT’s recorded investment in the receivable Modification of terms – interest rate changed to below market rate Maturity date extension at an interest rate less than market rate The borrower does not otherwise have access to funding for debt with similar risk characteristics in the market at the restructured rate and terms Capitalization of interest Increase in interest reserves Conversion of credit to Payment-In-Kind (PIK) Delaying principal and/or interest for a period of three months or more Partial forgiveness of the balance. Modified loans that meet the definition of a TDR are subject to the Company’s standard impaired loan policy, namely that non-accrual loans in excess of $500,000 are individually reviewed for impairment, while non-accrual loans less than $500,000 are considered as part of homogenous pools and are included in the determination of the non-specific allowance. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency status and accrue interest according to their original terms. The planned modifications for these arrangements predominantly involve interest rate reductions or other interest rate concessions; however, the exact concession type and resulting financial effect are usually not finalized and do not take effect until the loan is permanently modified. The trial period terms are developed in accordance with our proprietary programs or the U.S. Treasury’s Making Homes Affordable programs for real estate 1-4 family first lien (i.e. Home Affordable Modification Program – HAMP) and junior lien (i.e. Second Lien Modification Program – 2MP) mortgage loans. At September 30, 2015, the loans in trial modification period were $30 million under HAMP, $0.1 million under 2MP and $9.5 million under proprietary programs. Trial modifications with a recorded investment of $4.7 million at September 30, 2015 were accruing loans and $34.9 million, were non - accruing loans. Our experience is that substantially all of the mortgages that enter a trial payment period program are successful in completing the program requirements and are then permanently modified at the end of the trial period. Our allowance process considers the impact of those modifications that are probable to occur. The recorded investment of TDRs , excluding those classified as PCI, at September 30, 2015 and December 31, 2014 was $29.3 million and $17.2 million, of which 86% and 75% , respectively were on non-accrual. NAB receivables accounted for 96% of the total TDRs at September 30, 2015 and 91% at December 31, 2014, and there were $1.4 million and $0.8 million, respectively, of commitments to lend additional funds to borrowers whose loan terms have been modified in TDRs. Recorded investment related to modifications qualifying as TDRs that occurred during the quarters ended September 30, 2015 and 2014 were $17.3 million and $1.0 million, respectively. The recorded investment at the time of default of TDRs that experience a payment default (payment default is one missed payment) , during the quarters ended September 30, 2015 and 2014, and for which the payment default occurred within one year of the modification totaled $0.4 million and $0.1 million, respectively. The Septembe r 30, 2015 defaults related to Equipment Fina ncing and the September 30, 2014 defaults related primarily to Equipment Financing and Non-Strategic Portfolios. The financial impact of the various modification strategies that the Company employs in response to borrower difficulties is described below. While the discussion focuses on the 2015 amounts, the overall nature and impact of modification programs were comparable in the prior year. • The nature of modifications qualifying as TDR’s based upon recorded investment at September 30, 2015 was com prised of payment deferrals for 19% and covenant relief and/or other for 81% . December 31, 2014 TDR recorded investment was comprised of payment deferrals for 35% and covenant relief and/or other for 65% . • Payment deferrals result in lower net present value of cash flows, if not accompanied by additional interest or fees, and increased provision for credit losses to the extent applicable. The financial impact of these modifications is not significant given the moderate length of deferral periods; • Interest rate reductions result in lower amounts of interest being charged to the customer, but are a relatively small part of the Company’s restructuring programs. Additionally, in some instances, modifications improve the Company’s economic return through increased interest rates and fees, but are reported as TDRs due to assessments regarding the borrowers’ ability to independently obtain similar funding in the market and assessments of the relationship between modified rates and terms and comparable market rates and terms. The weighted average change in interest rates for all TDRs occurring during the quarters ended September 30, 2015 and 2014 was not significant; • Debt forgiveness, or the reduction in amount owed by borrower, results in incremental provision for credit losses, in the form of higher charge-offs. While these types of modifications have the greatest individual impact on the allowance, the amounts of principal forgiveness for TDRs occurring during quarters ended September 30, 2015 and 2014 was not significant, as debt forgiveness is a relatively small component of the Company’s modification programs; and • The other elements of the Company’s modification programs that are not TDRs, do not have a significant impact on financial results given their relative size, or do not have a direct financial impact, as in the case of covenant changes. Reverse Mortgages Consumer loans within continuing operations include the outstanding balance of $897.1 million at September 30, 2015 related to the reverse mortgage portfolio, of which $814.8 million is uninsured. Reverse mortgage loans are contracts in which a homeowner borrows against the equity in his/her home and receives cash in one lump sum payment, a line of credit, fixed monthly payments for either a specific term or for as long as the homeowner lives in the home, or a combination of these options. Since reverse mortgages are nonrecourse obligations, meaning the borrower or his/ her estate can never owe more than the lesser of the loan balance or the value of the property, the loan repayments are generally limited to the sale proceeds of the borrower’s residence and the mortgage balance consists of cash advanced , interest compounded over the life of the loan and capitalized service fees. The uninsured reverse mortgage portfolio consists of approximately 2,000 loans with an average borrowers’ age of 82 years old and an unpaid principal balance of $1,123.8 million at September 30, 2015. There is currently overcollateralization in the portfolio, as the realizable collateral value (the lower of collectible principal and interest, or estimated value of the home) exceeds the outstanding book balance at September 30, 2015. Reverse mortgage loans were recorded at fair value on the acquisition date. Subsequent to that, we account for reverse mortgages in accordance with the instructions provided by the staff of the Securities and Exchange Commission (SEC) entitled “Accounting for Pools of Uninsured Residential Reverse Mortgage Contracts.” Refer to Note 1 for further details. To determine the carrying value of these reverse mortgages as of September 30, 2015, the Company used a proprietary model which uses actual cash flow information to estimate future cash flows. The three main drivers of cash flows include the following: 1) Move-out rates – We used the actuarial estimates of contract termination using the Society of Actuaries mortality tables, adjusted for expected prepayments and relocations. 2) Home Price Appreciation – Consistent with other projections from various market sources, we use the Moody’s baseline forecast at a regional level to estimate home price appreciation on a loan-level basis. 3) Internal Rate of Return – The internal rate of return (IRR) is the effective yield required on the life of the portfolio to reduce the net investment to zero at the time the final reverse mortgage contract is liquidated. As of September 30, 2015, the Company’s estimated future advances to reverse mortgagors are as follows: Estimated Future Advances to Reverse Mortgagors (dollars in millions) Year Ending: Remaining in 2015 $ 6.1 Years 2020 - 2024 Years 2025 - 2029 Years 2030 - 2034 Thereafter Total (1), (2) $ 107.3 (1) This table does not take into consideration cash inflows including payments from mortgagors or payoffs based on contractual terms . (2) This table includes the reverse mortgages supported by the Company as a result of the IndyMac loss-share agreements with the FDIC. As of September 30, 2015, the Company is responsible for funding up to a remaining $47 million of the total amount. Refer to the Indemnification Asset footnote for more information on this agreement and the Company’s responsibilities toward this reverse mortgage portfolio. For the quarter ended September 30, 2015, any changes to the portfolio value as a result of re-estimated cash flows due to changes in actuarial assumptions or actual or expected appreciation or depreciation in property values was immaterial to the portfolio as a whole. Serviced Loans In conjunction with the OneWest Transaction, the Company services HECM reverse mortgage loans. As servicer of HECM loans, the Company either chooses to repurchase the loan upon reaching a maturity event (i.e., borrower’s death or the property ceases to be the borrower’s principal residence) or is required to repurchase the loan

Allowance For Loan Losses

Allowance For Loan Losses	9 Months Ended
	Sep. 30, 2015
Allowance For Loan Losses [Abstract]
Allowance For Loan Losses	NOTE 4 — ALLOWANCE FOR LOAN LOSSES The Company maintains an allowance for loan losses for estimated credit losses in its HFI loan portfolio. The allowance is adjusted through a provision for credit losses, which is charged against current period earnings, and reduced by any charge-offs for losses, net of recoveries. The Company maintains a separate reserve for credit losses on off-balance sheet commitments, which is reported in Other Liabilities. Off-balance sheet credit exposures include items such as unfunded loan commitments, issued standby letters of credit and deferred purchase agreements. The Company’s methodology for assessing the appropriateness of this reserve is similar to the allowance process for outstanding loans. Allowance for Loan Losses and Recorded Investment in Finance Receivables (dollars in millions) Transportation & International Finance North American Banking Legacy Consumer Mortgages Non-Strategic Portfolios Corporate and Other Total Quarter Ended September 30, 2015 Balance - June 30, 2015 $ 58.0 $ 292.9 $ - $ - $ - $ 350.9 Provision for credit losses - - Other (1) - - Gross charge-offs (2) - - Recoveries - - Balance - September 30, 2015 $ 31.8 $ 302.8 $ 0.4 $ - $ - $ 335.0 Nine Months Ended September 30, 2015 Balance - December 31, 2014 $ 46.8 $ 299.6 $ - $ - $ - $ 346.4 Provision for credit losses - - Other (1) - - Gross charge-offs (2) - - Recoveries - - Balance - September 30, 2015 $ 31.8 $ 302.8 $ 0.4 $ - $ - $ 335.0 Allowance balance at September 30, 2015 Loans individually evaluated for impairment $ 0.9 $ 17.4 $ - $ - $ - $ 18.3 Loans collectively evaluated for impairment - - - Loans acquired with deteriorated credit quality (3) - - - - Allowance for loan losses $ 31.8 $ 302.8 $ 0.4 $ - $ - $ 335.0 Other reserves (1) $ - $ 40.8 $ - $ - $ - $ 40.8 Finance receivables at September 30, 2015 Loans individually evaluated for impairment $ 4.7 $ 97.5 $ - $ - $ - $ 102.2 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - Ending balance $ 3,305.5 $ 23,501.3 $ 5,599.4 $ - $ - $ 32,406.2 Percent of loans to total loans Transportation & International Finance North American Banking Legacy Consumer Mortgages Non-Strategic Portfolios Corporate and Other Total Quarter Ended September 30, 2014 Balance - June 30, 2014 $ 39.7 $ 301.3 $ - $ - $ - $ 341.0 Provision for credit losses Other (1) - - Gross charge-offs (2) - - - Recoveries - - Balance - September 30, 2014 $ 46.5 $ 311.2 $ - $ - $ - $ 357.7 Nine Months Ended September 30, 2014 Balance - December 31, 2013 $ 46.7 $ 303.8 $ - $ 5.6 $ - $ 356.1 Provision for credit losses - Other (1) - - - Gross charge-offs (2) - - Recoveries - - Balance - September 30, 2014 $ 46.5 $ 311.2 $ - $ - $ - $ 357.7 Allowance balance at September 30, 2014 Loans individually evaluated for impairment $ 2.7 $ 22.8 $ - $ - $ - $ 25.5 Loans collectively evaluated for impairment - - - Loans acquired with deteriorated credit quality (3) - - - - Allowance for loan losses $ 46.5 $ 311.2 $ - $ - $ - $ 357.7 Other reserves (1) $ 0.3 $ 33.3 $ - $ 0.1 $ - $ 33.7 Finance receivables at September 30, 2014 Loans individually evaluated for impairment $ 23.1 $ 192.7 $ - $ - $ - $ 215.8 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - Ending balance $ 3,687.7 $ 16,098.0 $ - $ 0.1 $ - $ 19,785.8 Percent of allowance for loan losses to total allowance Allowance balance at December 31, 2014 Loans individually evaluated for impairment $ 1.0 $ 11.4 $ - $ - $ - $ 12.4 Loans collectively evaluated for impairment - - - Loans acquired with deteriorated credit quality (3) - - - - Allowance for loan losses $ 46.8 $ 299.6 $ - $ - $ - $ 346.4 Other reserves (1) $ 0.3 $ 35.1 $ - $ - $ - $ 35.4 Finance receivables at December 31, 2014 Loans individually evaluated for impairment $ 17.6 $ 40.6 $ - $ - $ - $ 58.2 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - Ending balance $ 3,558.9 $ 15,936.0 $ - $ 0.1 $ - $ 19,495.0 Percentage of loans to total loans (1) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements, all of which is recorded in Other liabilities. “Other” also includes changes relating to loans that were charged off and reimbursed by the FDIC under the indemnification provided by the FDIC, sales and foreign currency translations. (2) Gross charge-offs of amounts specifically reserved in prior periods included $12 million and $17 million charged directly to the Allowance for loan losses for the quarter and year to date September 30, 2015, respectively. For the year to date period, $12.2 million related to NAB and $5 million to TIF. Gross charge-offs included $13 million charged directly to the Allowance for loan losses for the year ended December 31, 2014, all of which related to NAB. (3) Represents loans considered impaired as part of the OneWest transaction and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Idemnification Assets

Idemnification Assets	9 Months Ended
	Sep. 30, 2015
Idemnification Assets [Abstract]
Idemnification Assets	NOTE 5 – INDEMNIFICATION ASSETS The Company acquired the indemnifications provided by the FDIC under the loss sharing agreements from previous transactions entered into by OneWest Bank. The loss share agreements with the FDIC relates to the FDIC-assisted transactions of IndyMac in March 2009 (“IndyMac Transaction”), First Federal in December 2009 (“First Federal Transaction”) and La Jolla in February 2010 (“La Jolla Transaction”). Eligible losses are submitted to the FDIC for reimbursement when a qualifying loss event occurs (e.g., loan modification, charge-off of loan balance or liquidation of collateral). Reimbursements approved by the FDIC are received usually within 60 days of submission. In connection with the lndyMac, First Federal and La Jolla Transactions, the FDIC indemnified the Company against certain future losses. For the IndyMac Transaction, First Federal Transaction and La Jolla Transaction the loss share agreement covering SFR mortgage loans is set to expire March 2019, December 2019 and February 2020, respectively. Below are the estimated fair value and range of value on an undiscounted basis for each of the indemnification assets associated with the FDIC-assisted transactions as of the acquisition date (August 3, 2015) pursuant to ASC 805 , Business Combinations . August 3, 2015 Range of Value (dollars in millions) Fair Value Low High IndyMac Transactions $ 480.0 $ - $ 4,596.8 La Jolla Transaction - $ 480.7 $ - $ 4,682.1 As of the acquisition date, the indemnification related to the First Federal Transaction is zero as the covered losses are not projected to meet the threshold for FDIC reimbursement. The fair value of the indemnification assets associated with the IndyMac Transaction and La Jolla Transaction totaled $480.7 million for projected credit losses covered by the loss share agreement with a potential maximum value of $4.7 billion. In addition, the Company separately recognized a net receivable of $13.0 million (recorded in Other Assets) associated with the IndyMac Transaction for the claim submissions filed with the FDIC and a net payable of $17.4 million (recorded in Other Liabilties) for the amount due to the FDIC for previously submitted claims for commercial loans that were later recovered by investor (e.g., guarantor payments, recoveries) associated with the La Jolla Transaction. The indemnification asset is carried on the same basis as the indemnified loans (e.g., as PCI loans under the effective yield method). A yield is determined based on the cash flows expected to be collected over the recorded investment and used to recognize interest income on loans over the lesser of the contractual term of the indemnification agreement or the remaining life of the indemnified assets. Accounting for the indemnification assets is discussed in detail in Note 1 – Business and Summary of Significant Accounting Policies . Below provides the carrying value of the recognized indemnification assets and related receivable/payable balance with the FDIC associated with indemnified losses under the IndyMac and La Jolla Transactions as of September 30, 2015. September 30, 2015 IndyMac La Jolla Transaction Transaction Total (dollars in millions) Loan indemnification (1) $ 385.9 $ 0.7 $ 386.6 Reverse mortgage indemnification - Agency claims indemnification - Total $ 464.3 $ 0.7 $ 465.0 IndyMac Transaction There are four components to the Indy Mac indemnification program described below: 1. SFR, 2. Reverse Mortgages, 3. Reverse Mortgages sold to the Agencies and 4. Certain Servicing Obligations. Single Family Whole Loan Indemnification Asset The FDIC indemnifies the Company against certain credit losses on SFR mortgage loans based on specified thresholds as follows: Loss Threshold FDIC Loss CIT Loss Percentage Comments First Loss Tranche 0% 100% The first $2.551 billion (First Loss Tranche) of losses based on the unpaid principal balances as of the transaction date are borne entirely by the Company without reimbursement from FDIC. Under Stated Threshold 80% 20% Losses based on the unpaid principal balances as of the transaction date in excess of the First Loss Tranche but less than $3.826 billion (Stated Threshold) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company. Meets or Exceeds Stated Threshold 95% 5% Losses based on the unpaid principal balances as of the transaction date that equal or exceed $3.826 billion (Stated Threshold) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company. Prior to the OneWest acquisition, the cumulative losses of the SFR portfolio exceeded the first loss tranche ( $2.551 billion) effective December 2011 with the excess losses reimbursed 80% by the FDIC. The following table summarizes the submission of qualifying losses for reimbursement from the FDIC since inception of the loss share agreement: Submission of Qualifying Losses for Reimbursement (dollars in millions) September 30, 2015 Unpaid principal balance $ 4,513.6 Cumulative losses incurred Cumulative claims Cumulative reimbursement As part of this indemnification agreement, the Company must continue to modify loans under certain U.S. government programs, or other programs approved by the FDIC. Final settlement on the remaining indemnification obligations will occur at the earlier of the sale of the portfolio or the expiration date, March 2019. Reverse Mortgage Indemnification Asset Under the loss share agreement, the FDIC agreed to indemnify against losses on the first $200.0 million of funds advanced post March 2009, and to fund any advances above $200.0 million. Final settlement on the remaining indemnification obligation will occur at the earlier of the sale of the portfolio, payment of the last shared-loss loan, or final payment to the purchaser in settlement of all remaining loss share obligations under the agreement, which can occur within the six month period prior to March 2019. As of September 30, 2015, $152.7 million had been advanced on the reverse mortgage loans. Prior to the OneWest acquisition, the cumulative loss submissions and reimbursements totaled $1.8 million from the FDIC. Indemnification from Certain Servicing Obligations Subject to certain requirements and limitations, the FDIC agreed to indemnify the Company, among other things, for third party claims from the Agencies related to the selling representations and warranties of Indy Mac as well as liabilities arising from the acts or omissions, including, without limitation, breaches of servicer obligations of IndyMac for SFR mortgage loans and reverse mortgage loans as follows: SFR mortgage loans sold to the Agencies " The FDIC indemnifies the Company up to March 31, 2014 for third party claims made by Fannie Mae or Freddie Mac relating to any liabilities or obligations imposed on the seller of mortgage loans with respect to mortgage loans acquired by Fannie Mae or Freddie Mac from IndyMac. This indemnification was in addition to the contractual protections provided by both Fannie Mae and Freddie Mac, through the respective servicing transfer agreements executed upon the FDICs sale of such mortgage servicing rights to OneWest Bank . Under these contracts, each of the GSEs agreed to not enforce any such claims arising from breaches that would otherwise be imposed on the seller of such mortgage loans. " Th e FDIC indemnifies the Company up to March 31, 2014 for third party claims made by GNMA, relating to any liabilities or obligations imposed on the seller of mortgage loans with respect to mortgage loans acquired by GNMA from IndyMac. " The FDIC indemnifies the Company for third party claims from the Agencies or others arising from certain servicing errors of IndyMac commenced within two years from March 2009 or three years from March 2009 if the claim was brought by FHLB. The FDIC indemnification for third party claims made by the Agencies for servicer obligations expired as of the acquisition date; however, for any claims, issues or matters relating to the servicing obligations that are known or identified as of the end of the expired term, the FDIC indemnification protection continues until resolution of such claims, issues or matters. The Company had no submitted claims for the quarter ended September 30, 2015. Prior to the OneWest acquisition, the cumulative loss submissions and reimbursements totaled $5.7 million from the FDIC to cover third party claims made by the Agencies for SFR loans . Reverse mortgage loans sold to the Agencies The FDIC indemnifies the Company through March 2019 for third party claims made by the Agencies relating to any liabilities or obligations imposed on the seller of HECM loans acquired by the Agencies from IndyMac resulting from servicing errors or servicing obligation s prior to March 2019. The Company had no submitted claims for the quarter ended September 30, 2015. Prior to the OneWest acquisition, the cumulative loss submissions totaled $11.2 million and reimbursements totaled $10.7 million from the FDIC to cover third party claims made by the Agencies for reverse mortgage loans. First Federal Transaction The FDIC agreed to indemnify the Company against certain losses on SFR, and commercial loans based on established thresholds as follows: Loss Threshold FDIC Loss Percentage CIT Loss Percentage Comments First Loss Tranche 0% 100% The first $932 million (First Loss Tranche) of losses based on the unpaid principal balances as of the transaction date are borne entirely by the Company without reimbursement from FDIC. Under Stated Threshold 80% 20% Losses based on the unpaid principal balances as of the transaction date in excess of the First Loss Tranche but less than $1.532 billion (Stated Threshold) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company. Meets or Exceeds Stated Threshold 95% 5% Losses based on the unpaid principal balances as of the transaction date that equal or exceed $1.532 billion (Stated Threshold) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company. The loss thresholds apply to the covered loans collectively. As of the OneWest Transaction, the loss share agreements covering the SFR mortgage loans remain in effect (expiring in December 2019 ) while the agreement covering commercial loans expired (in December 2014 ). However, pursuant to the terms of the shared-loss agreement, the loss recovery provisions for commercial loans extend for three years past the expiration date (to December 2017). The following table summarizes the submission of qualifying losses for reimbursement from the FDIC since inception of the loss share agreement: Submission of Qualifying Losses for Reimbursement (dollars in millions) SFR Commercial Total Unpaid principal balance $ 1,508.4 $ ----- (1) $ 1,508.4 Cumulative losses incurred Cumulative claims (1) Due to the expiration of the loss share agreement covering commercial loans in December 2014, the outstanding unpaid principal balance eligible for reimbursement is zero . As reflected above, the cumulative losses incurred have not reached the First Loss Tranche ( $932 million) for FDIC reimbursement and the Company does not project to reach the specified level of losses. Accordingly, no indemnification asset was recognized in connection with the First Federal Transaction. Separately, as part of the loss sharing agreement, the Company is required to make a true-up payment to the FDIC in the event that losses do not exceed a specified level by December 2019. As the Company does not project to reach the First Loss Tranche ($932 million) for FDIC reimbursement, the Company does not expect that such true-up payment will be required for the First Federal portfolio. La Jolla Transaction The FDIC agreed to indemnify the Company against certain losses on SFR, and commercial loans HFI based on established thresholds as follows: FDIC Loss CIT Loss Loss Threshold Percentage Percentage Comments Under Stated Threshold 80% 20% Losses based on unpaid principal balance up to the Stated Threshold ($1.007 billion) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company. Meets or Exceeds Stated Threshold 95% 5% Losses based on unpaid principal balance at or in excess of the Stated Threshold ($1.007 billion) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company. The loss thresholds apply to the covered loans collectively. As of the OneWest Transaction, the loss share agreements covering the SFR mortgage loans remain in effect (expiring in February 2020) while the agreement covering commercial loans expired (in March 2015). However, pursuant to the terms of the shared-loss agreement, the loss recovery provisions for commercial loans extend for three years past the expiration date (to March 2018). Pursuant to the loss sharing agreement, the Company’s cumulative losses since acquisition date are reimbursed by the FDIC at 80% until the stated threshold ( $1.007 billion) is met. The following table summarizes the submission of cumulative qualifying losses for reimbursement from the FDIC since inception of the loss share agreement : Submission of Qualifying Losses for Reimbursement (dollars in millions) September 30, 2015 SFR Commercial Total Unpaid principal balance $ 103.9 $ ----- (1) $ 103.9 Cumulative losses incurred (2) Cumulative claims submissions (2) Cumulative reimbursement (1) Due to the expiration of the loss share agreement covering commercial loans in March 2015, the outstanding unpaid principal balance eligible for reimbursement is zero. (2) The cumulative claims submissions are higher than the cumulative losses incurred due to recoveries in September 2015 that were not reflected in the claim submissions until the following month. As part of the loss sharing agreement, the Company is required to make a true-up payment to the FDIC in the event that losses do not exceed a specified level by the tenth anniversary of the agreement (February 2020). The Company currently expects that such payment will be required based upon its forecasted loss estimates for the La Jolla portfolio as the actual and estimated cumulative losses of the acquired covered assets are projected to be lower than the cumulative losses. As of September 30, 2015, an obligation of $56.3 million has been recorded as a FDIC true-up liability for the contingent payment measured at estimated fair value. Refer to Note 12 — Fair Value for further discussion .

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2015
Investment Securities [Abstract]
Investment Securities	NOTE 6— INVESTMENT SECURITIES Investments include debt and equity securities. The Company’s debt securities include U.S. Government Agency securities, U.S. Treasury securities, residential mortgage-backed securities (“MBS”), and supranational and foreign government securities. Equity securities include common stock and warrants, along with restricted stock in the FHLB and FRB. Investment Securities (dollars in millions) September 30, December 31, 2015 2014 Available-for-sale securities Debt securities $ 3,001.3 $ 1,116.5 Equity securities Held-to-maturity securities Debt securities (1) Non-marketable investments (2) Total investment securities $ 3,618.8 $ 1,550.3 (1) Recorded at amortized cost. (2) Non-marketable investments include securities of the FRB and FHLB carried at cost of $263.8 million at September 30, 2015 and $5.3 million at December 31, 2014. The remaining non-marketable investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method, other investments carried at cost, which include qualified Community Reinvestment Act (CRA) investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment, totaling $28.7 million and $52.3 million in September 30, 2015 and December 31, 2014, respectively. Realized investment gains totaled $2.1 million and $6.7 million for the quarter and nine months ended September 30, 2015, respectively, and $5.6 million and $14.7 million for the quarter and nine months ended September 30, 2014, respectively, and exclude losses from OTTI. In addition, the Company maintained $6.6 billion and $6.2 billion of interest bearing deposits at September 30, 2015 and December 31, 2014, respectively, which are cash equivalents and are classified separately on the balance sheet. The following table presents interest and dividends on interest bearing deposits and investments: Interest and Dividend Income (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Interest income - interest bearing deposits $ 4.5 $ 4.4 $ 11.9 $ 13.5 Interest income - investments / reverse repos Dividends - investments Total interest and dividends $ 8.4 $ 41.1 $ 25.6 Securities Available-for-Sale The following table presents amortized cost and fair value of securities AFS. Securities AFS — Amortized Cost and Fair Value (dollars in millions) Gross Gross Amortized Unrealized Unrealized Fair September 30, 2015 Cost Gains Losses Value Debt securities AFS Mortgage-backed Securities U.S. government agency securities $ 1,147.5 $ 1.4 $ (0.1) $ 1,148.8 Non-agency securities U.S. Treasury securities - - Supranational and foreign government securities - - Total debt securities AFS Equity securities AFS Total securities AFS $ 3,025.2 $ 2.2 $ (11.8) $ 3,015.6 December 31, 2014 Debt securities AFS U.S. Treasury securities $ 200.0 $ - $ - $ 200.0 U.S. government agency securities - - Supranational and foreign government securities - - Total debt securities AFS - - Equity securities AFS Total securities AFS $ 1,130.5 $ 0.2 $ (0.2) $ 1,130.5 The following table presents the debt securities AFS by contractual maturity dates: Securities AFS - Amortized Cost and Fair Value Maturities (dollars in millions) September 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value Mortgage-backed securities - U.S. government agency securities Due within 1 year $ - $ - $ 904.2 $ 904.2 After 1 but within 5 years - - Due after 10 years - - Total Mortgage-backed securities - non agency securities After 5 but within 10 years $ 29.0 $ 28.5 $ - $ - Due after 10 years - - Total - - U.S. Treasury securities Due within 1 year $ 300.0 $ 300.0 $ 200.0 $ 200.0 Total Supranational and foreign government securities Due within 1 year $ 600.0 $ 600.0 $ 12.3 $ 12.3 Total Total debt securities available-for-sale $ 3,010.9 $ 3,001.3 $ 1,116.5 $ 1,116.5 The following table summarizes the gross unrealized losses and estimated fair value of AFS securities aggregated by investment category and length of time that the securities have been in a continuous unrealized loss position. Estimated Unrealized Losses (dollars in millions) September 30, 2015 Less than 12 months 12 months or greater Gross Gross Fair Unrealized Fair Unrealized Value Loss Value Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 176.6 $ (0.1) $ - $ - Non-agency securities - - Total debt securities AFS - - Equity securities AFS - Total securities available-for-sale $ 1,098.1 $ (11.8) $ - $ - December 31, 2014 Less than 12 months 12 months or greater Gross Gross Fair Unrealized Fair Unrealized Value Loss Value Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ - $ - $ - $ - Non-agency securities - - - - U.S. Treasury securities - - - - Supranational and foreign government securities - - - - Total debt securities AFS - - - - Equity securities AFS - - Total securities available-for-sale $ 0.2 $ (0.2) $ - $ - Purchased Credit-Impaired AFS Securities In connection with the OneWest acquisition, the Company classified AFS mortgage-backed securities as PCI due to evidence of credit deterioration since issuance and for which it is probable that the Company will not collect all principal and interest payments contractually required at the time of purchase. Accounting for these adjustments is discussed in Note 2 — Acquisitions and Disposition Activities . The following table provides detail of the acquired PCI securities classified as AFS in connection with the OneWest Transaction on August 3, 2015. PCI Securities at Acquisition Date (dollars in millions) Total Contractually required payments, including interest $ 1,631.8 Less: Non-accretable differences Cash flows expected to be collected Less: Accretable yield Fair value of securities acquired $ 982.1 (1) Represents undiscounted expected principal and interest cash flows at acquisition. Changes in the accretable yield for PCI securities since the OneWest transaction are summarized below for the quarter ended September 30, 2015: Changes in Accretable Yield (dollars in millions) Total Balance at August 3, 2015 $ 298.4 Accretion into interest income Balance at September 30, 2015 $ 290.2 The estimated fair value of PCI securities was $942.2 billion with a par value of $1.2 billion as of September 30, 2015. The Company did not own any PCI securities as of December 31, 2014. Other than Temporary Impairment The Company evaluates AFS securities with an unrealized loss for potential OTTI on a quarterly basis or more often if a potential loss-triggering event occurs. In the event the Company determines that it intends to sell AFS securities, or it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the Company would be required to recognize an OTTI write-down equal to the difference between the amortized cost basis and the estimated fair value of those securities. In estimating fair value, the Company’s expected cash flow estimates take into account expectations of relevant market and economic data as of the end of the reporting period including, for example, for securities issued in a securitization, underlying loan-level data, and structural features of the securitization, such as subordination, excess spread, overcollateralization or other forms of credit enhancement. Refer to Note 12—Fair Value for further discussion regarding the significant unobservable inputs in measuring estimated fair value. For AFS securities that the Company does not intend to sell or it is more likely than not that the Company will not be required to sell prior to recovery of the amortized cost basis, the Company compares the present value of expected cash flows to be received, discounted at the current effective yield, to the security’s amortized cost to determine if a credit loss exists. In the event of a credit loss, impairment for the credit loss is reported in n oninterest loss as a permanent write-down of the security . Changes in values attributable to factors other than credit losses remain in OCI. Based on the Company’s quarterly assessment, the Company had no material OTTI credit-related losses on its AFS securities for the quarter ended September 30, 2015. Impairment amounts in accumulated other comprehensive income (“AOCI”) were not material at September 30, 2015 and December 31, 2014. Debt Securities Held-to-Maturity The carrying value and fair value of securities HTM at September 30, 2015 and December 31, 2014 were as follows: Debt Securities HTM — Carrying Value and Fair Value (dollars in millions) Gross Gross Carrying Unrealized Unrealized Fair Value Gains Losses Value September 30, 2015 Mortgage-backed securities U.S. government agency securities $ 153.3 $ 1.6 $ (2.1) $ 152.8 State and municipal Foreign government Corporate - foreign - Total debt securities held-to-maturity $ 310.7 $ 8.6 $ (2.5) $ 316.8 December 31, 2014 Mortgage-backed securities U.S. government agency securities $ 156.3 $ 2.5 $ (1.9) $ 156.9 State and municipal Foreign government - Corporate - foreign - Total debt securities held-to-maturity $ 352.3 $ 11.7 $ (3.7) $ 360.3 The following table presents the debt securities HTM by contractual maturity dates: Debt Securities HTM — Amortized Cost and Fair Value Maturities (dollars in millions) September 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value Mortgage-backed securities - U.S. government agency securities After 5 but within 10 years $ 1.3 $ 1.3 $ 1.3 $ 1.3 Due after 10 years Total State and municipal Due within 1 year $ 0.7 $ 0.7 $ 1.2 $ 1.2 After 1 but within 5 years After 5 but within 10 years - - Due after 10 years Total Foreign government Due within 1 year $ 14.0 $ 14.0 $ 10.8 $ 10.8 After 1 but within 5 years Total Corporate - Foreign securities Due within 1 year $ 0.9 $ 0.9 $ 0.9 $ 0.9 After 1 but within 5 years After 5 but within 10 years Total Total debt securities available-for-sale $ 310.7 $ 316.8 $ 352.3 $ 360.3 (1) Investments with no stated maturities are included as contract ual maturities of greater than 10 years. Actual maturities may differ due to call or prepayment rights.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2015
Other Assets [Abstract]
Other Assets	NOTE 7 – OTHER ASSETS The following table presents the components of other assets. Other Assets (dollars in millions) September 30, 2015 December 31, 2014 Current and deferred federal and state tax assets $ 1,216.7 $ 483.5 Deposits on commercial aerospace equipment Tax credit investments and investments in unconsolidated subsidiaries Property, furniture and fixtures Fair value of derivative financial instruments Deferred debt costs and other deferred charges OREO and repossessed assets Tax receivables, other than income taxes Executive retirement plan and deferred compensation Other Total other assets $ 3,538.4 $ 2,106.7 (1) (2) (3) The increase is primarily due to the reversal of the deferred tax asset valuation ( $676 million) in the third quarter. See Note 18 – Income Taxes (4) Included in this balance are affordable housing investments that provide tax benefits to investors in the form of tax deductions from operating losses and tax credits. As a limited partner, the Company has no significant influence over the operations (5) Other includes items such as: investments in and receivables from non-consolidated entities, and other miscellaneous assets.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2015
Deposits [Abstract]
Deposits	NOTE 8 – DEPOSITS The following table presents detail on the type, maturities and weighted average interest rates of deposits. Deposits (dollars in millions) September 30, 2015 December 31, 2014 Deposits Outstanding $ 32,328.9 $ 15,849.8 Weighted average contractual interest rate (1) Weighted average remaining number of days to maturity (1) 891 days 1,293 days (1) Excludes deposit balances with no stated maturity. Nine Months Ended September 30, 2015 Daily average deposits $ 20,052.9 Maximum amount outstanding Weighted average contractual interest rate for the year The following table provides further detail of deposit. Deposits – Rates and Maturities (dollars in millions) September 30, 2015 Amount Average Rate Deposits – no stated maturity Non-interest-bearing checking $ 966.6 Interest-bearing checking Money market Savings Other Total checking and savings deposits $ 14,388.7 Certificates of deposit, remaining contractual maturity: Within one year $ 7,633.2 One to two years Two to three years Three to four years Four to five years Over five years Total certificates of deposit $ 17,915.7 Premium / discount Purchase accounting adjustments Total Deposits $ 32,328.9 The following table presents the maturity profile of other time deposits with a denomination of $100,000 or more. Certificated of Deposits $100,000 or More (dollars in millions) September 30, 2015 December 31, 2014 U.S. certificates of deposits: Three months or less $ 1,390.5 $ 340.9 After three months through six months After six months through twelve months After twelve months Total U.S. Bank $ 9,530.4 $ 4,019.8 Non-U.S. certificates of deposits $ 24.0 $ 57.0

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2015
Borrowings [Abstract]
Borrowings	NOTE 9 —BORROWINGS The following table presents the carrying value of outstanding borrowings. Borrowings (dollars in millions) September 30, 2015 December 31, 2014 CIT Group Inc. Subsidiaries Total Total Senior Unsecured (1) $ 10,725.0 $ - $ 10,725.0 $ 11,932.4 FHLB advances - Secured borrowings - Total Borrowings $ 10,725.0 $ 8,595.5 $ 19,320.5 $ 18,455.8 (1) Senior Unsecured Notes at September 30, 2015 were comprised of $8,236.0 million unsecured notes, $2,450.0 million Series C Notes, and $39.0 million other unsecured debt. . The following table summarizes contractual maturities of borrowings outstanding, which excludes PAA discounts, original issue discounts, and FSA discounts. Contractual Maturities – Borrowings as of September 30, 2015 (dollars in millions) Contractual 2016 2017 2018 2019 2020 Thereafter Maturities Senior unsecured notes $ - $ 2,992.0 $ 2,200.0 $ 2,750.0 $ 750.0 $ 2,051.4 $ 10,743.4 FHLB advances - - - Secured borrowings Unsecure d Borrowings Revolving Credit Facility There were no outstanding borrowings under the Revolving Credit Facility at September 30, 2015 and December 31, 2014. The amount available to draw upon at September 30, 2015 was approximately $1.4 billion, with the remaining amount of approximately $0.1 billion being utilized for issuance of letters of credit to customers . The Revolving Credit Facility has a total commitment amount of $1.5 billion and the maturity date of the commitment is January 27, 2017 . The total commitment amount consists of a $1.15 billion revolving loan tranche and a $350 million revolving loan tranche that can also be utilized for issuance of letters of credit to customers . The applicable margin charged under the facility is 2.50% for LIBOR-based loans and 1.50% for Base Rate loans. The Revolving Credit Facility may be drawn and prepaid at the option of CIT. The unutilized portion of any commitment under the Revolving Credit Facility may be reduced permanently or terminated by CIT at any time without penalty. The Revolving Credit Facility is unsecured and is guaranteed by eight of the Company’s domestic operating subsidiaries. The facility was amended in January 2014 to modify the covenant requiring a minimum guarantor asset coverage ratio and the criteria for calculating the ratio. The amended covenant requires a minimum guarantor asset coverage ratio ranging from 1.25 : 1.0 to the current requirement of 1.5 : 1.0 depending on the Company’s long-term senior unsecured debt rating. The Revolving Credit Facility is subject to a $6 billion minimum consolidated net worth covenant of the Company, tested quarterly, and also limits the Company’s ability to create liens, merge or consolidate, sell, transfer, lease or dispose of all or substantially all of its assets, grant a negative pledge or make certain restricted payments during the occurrence and continuance of an event of default. Senior Unsecured Notes Senior unsecured notes include notes issued under the “shelf” registration filed in March 2012 that matured in the first quarter of 2015, and Series C Unsecured Notes. In January 2015, we filed a new shelf that expires in January 2018. The notes issued under the shelf registration rank equal in right of payment with the Series C Unsecured Notes and the Revolving Credit Facility. The following tables present the principal amounts of Senior Unsecured Notes issued under the Company’s shelf registration and Series C Unsecured Notes by maturity date. Senior Unsecured Notes (dollars in millions) Maturity Date Rate (%) Date of Issuance Par Value May 2017 May 2012 August 2017 August 2012 March 2018 March 2012 April 2018 * March 2011 February 2019 * February 2012 February 2019 February 2014 May 2020 May 2012 August 2022 August 2012 August 2023 August 2013 Weighted average rate and total $ 10,692.0 * Series C Unsecured Notes The Indentures for the Senior Unsecured Notes and Series C Unsecured Notes limit the Company’s ability to create liens, merge or consolidate, or sell, transfer, lease or dispose of all or substantially all of its assets. Upon a Change of Control Triggering Event as defined in the Indentures for the Senior Unsecured Notes and Series C Unsecured Notes, holders of the Senior Unsecured Notes and Series C Unsecured Notes will have the right to require the Company, as applicable, to repurchase all or a portion of the Senior Unsecured Notes and Series C Unsecured Notes at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest to the date of such repurchase. Secured Borrowings FHLB Advances As a member of the FHLB of San Francisco, CIT Bank, N.A. can access financing based on an evaluation of its creditworthiness, statement of financial position, size and eligibility of collateral. The interest rates charged by the FHLB for advances typically vary depending upon maturity, the cost of funds of the FHLB, and the collateral provided for the borrowing and t he advances are secured by certain Bank assets and bear either a fixed or floating interest rate. The FHL B advances are collateralized by a variety of consumer and commercial loans and leases, including SFR mortgage loans, reverse mortgage loans, multi-family mortgage loans, commercial real estate loans, certain foreclosed properties and certain amounts receivable under a loss sharing agreement with the FDIC, commercial loans, leases and/or equipment. During October 2015, a subsidiary of CIT Bank, N.A. received approval to withdraw its membership from the FHLB Des Moines and at September 30, 2015, there were no advances outstanding with FHLB Des Moines. As of September 30, 2015, the Company had $5.6 billion of financing availability with the FHL B, of which $2.4 billion was unused and available. FHLB Advances as of Sep tember 30, 2015 have a weighted average rate of 0.64% . The following table includes the outstanding FHLB Advances, and respective pledged assets. FHLB Advances with Pledged Assets Summary (dollars in millions) September 30, 2015 September 30, 2014 FHLB Advances Pledged Assets FHLB Advances Pledged Assets Total $ 3,219.0 $ 6,583.8 $ 254.7 $ 309.6 Structured Financings Set forth in the following table are amounts primarily related to and owned by consolidated VIEs. Creditors of these VIEs received ownership and/or security interests in the assets. These entities are intended to be bankruptcy remote so that such assets are not available to creditors of CIT or any affiliates of CIT until and unless the related secured borrowings have been fully discharged. These transactions do not meet accounting requirements for sales treatment and are recorded as secured borrowings. Structured financings as of September 30, 2015 had a weighted average rate of 3.26% , which ranged from 0.30% to 6.11% . Secured Borrowings and Pledged Assets Summary (1) (dollars in millions) September 30, 2015 December 31, 2014 Secured Borrowing Pledged Assets Secured Borrowing Pledged Assets Rail (2) $ 1,087.2 $ 1,505.5 $ 1,179.7 $ 1,575.7 Aerospace (2) International Finance Subtotal - Transportation & International Finance Commercial Banking - - - Commercial Services Equipment Finance Commercial Real Estate - - - - Subtotal - North America Banking Total $ 5,376.5 $ 9,102.1 $ 6,268.7 $ 10,218.1 (1) As part of our liquidity management strategy, the Company pledges assets to secure financing transactions (which include securitizations), and for other purposes as required or permitted by law while CIT Bank, N.A. also pledges assets to secure borrowings from the FHLB and FRB. (2) At September 30, 2015, the GSI TRS related borrowings and pledged assets, respectively, of $1.2 billion and $1.8 billion were included in Transportation & International Finance. The GSI TRS is described in Note 10 — Derivative Financial Instruments. FRB The Company has a borrowing facility with the FRB Discount Window that can be used for short-term, typically overnight, borrowings. The borrowing capacity is determined by the FRB based on the collateral pledged. There were no outstanding borrowings with the FRB Discount Window as of September 30, 2015 or December 31, 20 14. At September 30, 2015 we had pledged assets (including collateral for the FRB discount window ) of $18.3 billion, which included $12.7 billion of loans (including amounts held for sale), $4.7 billion of operating lease assets, $0.8 billion of cash and $0.1 billion of investment securities . Not included in the above, are liabilities of discontinued operations consisting of $454 million of secured borrowings related to HECM loans securitized in the form of GNMA HMBS , which were sold prior to the OneWest Transaction to third parties. See Note 2 – Acquisitions and Disposition Activities . Variable Interest Entities (“VIEs”) Below describes the results of the Company’s assessment of its variable interests to determine its current status with regards to being the primary beneficiary of a VIE. Consolidated VIEs The Company utilizes VIEs in the ordinary course of business to support its own and its customers’ financing needs. Each VIE is a separate legal entity and maintains its own books and records. The most significant types of VIEs that CIT utilizes are ‘on balance sheet’ secured financings of pools of leases and loans originated by the Company where the Company is the primary beneficiary. The Company originates pools of assets and sells these to special purpose entities, which, in turn, issue debt instruments backed by the asset pools or sells individual interests in the assets to investors. CIT retains the servicing rights and participates in certain cash flows. These VIEs are typically organized as trusts or limited liability companies, and are intended to be bankruptcy remote, from a legal standpoint. The main risks inherent in structured financings are deterioration in the credit performance of the vehicle’s underlying asset portfolio and risk associated with the servicing of the underlying assets. Lenders typically have recourse to the assets in the VIEs and may benefit from other credit enhancements, such as: (1) a reserve or cash collateral account that requires the Company to deposit cash in an account, which will first be used to cover any defaulted obligor payments, (2) over-collateralization in the form of excess assets in the VIE, or (3) subordination, whereby the Company retains a subordinate position in the secured borrowing which would absorb losses due to defaulted obligor payments before the senior certificate holders. The VIE may also enter into derivative contracts in order to convert the debt issued by the VIEs to match the underlying assets or to limit or change the risk of the VIE. With respect to events or circumstances that could expose CIT to a loss, as these are accounted for as on balance sheet, the Company records an allowance for loan losses for the credit risks associated with the underlying leases and loans. The VIE has an obligation to pay the debt in accordance with the terms of the underlying agreements. Generally, third-party investors in the obligations of the consolidated VIEs have legal recourse only to the assets of the VIEs and do not have recourse to the Company beyond certain specific provisions that are customary for secured financing transactions, such as asset repurchase obligations for breaches of representations and warranties. In addition, the assets are generally restricted to pay only such liabilities. Unconsolidated VIEs Unconsolidated VIEs include GSE securitization structures, private-label securitizations and limited partnership interests where the Company’s involvement is limited to an investor interest where the Company does not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE and limited partnership interests. As a result of the OneWest Transaction, the Company has certain contractual obligations related to the HECM loans and the GNMA HMBS securitizations. The Company, as servicer of these HECM loans, is currently obligated to fund future borrower advances, which include fees paid to taxing authorities for borrowers’ unpaid taxes and insurance, mortgage insurance premiums and payments made to borrowers for line of credit draws on HECM loans. In addition, the Company capitalizes the servicing fees and interest income earned and is obligated to fund guarantee fees associated with the GNMA HMBS. The Company periodically pools and securitizes certain of these funded advances through issuance of HMBS to third-party security holders, which did not qualify for sale accounting and rather, are treated as financing transactions. As a financing transaction, the HECM loans and related proceeds from the issuance of the HMBS recognized as secured borrowings remain on the Company’s Consolidated Balance Sheet. Due to the Company’s planned exit of third party servicing, HECM loans of $ 463.9 million were included in Assets of discontinued operations and the associated secured borrowing of $ 454.1 million (including an unamortized premium balance of $15.3 million) were included in Liabilities of discontinued operations at September 30, 2015. As servicer, the Company is required to repurchase the HECM loans once the outstanding principal balance is equal to or greater than 98% of the maximum claim amount or when the property forecloses to OREO, which reduces the secured borrowing balance. Additionally the Company services $ 202.4 million of HMBS outstanding principal balance at September 30, 2015 for transferred loans securitized by IndyMac for which OneWest Bank prior to the acquisition had purchased the mortgage servicing rights (“MSRs”) in connection with the IndyMac Transaction. The carrying value of the MSRs was not significant at September 30, 2015. As the HECM loans are federally insured by the FHA and the secured borrowings guaranteed to the investors by GNMA, the Company does not believe maximum loss exposure as a result of its involvement is material or quantifiable. For Agency and private label securitizations where the Company is not the servicer, the maximum exposure to loss represents the recorded investment based on the Company’s beneficial interests held in the securitized assets. These interests are not expected to absorb losses or receive benefits that are significant to the VIE. As a limited partner, the nature of the Company’s ownership interest in tax credit equity investments is limited in its ability to direct the activities that drive the economic performance of the entity, as these entities are managed by the general or managing partner. As a result, the Company was not deemed to be the primary beneficiary of these VIEs. The table below presents potential losses that would be incurred under hypothetical circumstances, such that the value of its interests and any associated collateral declines to zero and at the same time assuming no consideration of recovery or offset from any economic hedges. The Company believes the possibility is remote under this hypothetical scenario; accordingly, this required disclosure is not an indication of expected loss. Assets and Liabilities in Unconsolidated VIEs (dollars in millions) Unconsolidated VIEs Carrying Value September 30, 2015 Partnership Securities Investment Agency securities $ 151.5 $ - Non agency securities—Other servicer - Tax credit equity investments - Total Assets $ 1,104.0 $ 134.5 Commitments to tax credit investments - Total Liabilities $ - $ 20.3 Maximum loss exposure (1) $ 1,104.0 $ 134.5 (1) Maximum loss exposure to the uncosolidated VIEs excludes the liability for representations and warranties, corporate guarantees and also excludes servicing advances. .

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	NOTE 10 — DERIVATIVE FINANCIAL INSTRUMENTS As part of managing economic risk and exposure to interest rate and foreign currency risk, the Company primarily enters into derivative transactions in over-the-counter markets with other financial institutions. The Company does not enter into derivative financial instruments for speculative purposes. The Dodd-Frank Act (the “Act”) includes measures to broaden the scope of derivative instruments subject to regulation by requiring clearing and exchange trading of certain derivatives, and imposing margin, reporting and registration requirements for certain market participants. Since the Company does not meet the definition of a Swap Dealer or Major Swap Participant under the Act, the reporting and clearing obligations apply to a limited number of derivative transactions executed with its lending customers in order to manage their interest rate risk. See Note 1 — Business and Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 for further description of its derivative transaction policies. The following table presents fair values and notional values of derivative financial instruments: Fair and Notional Values of Derivative Financial Instruments (1) (dollars in millions) September 30, 2015 December 31, 2014 Notional Asset Fair Liability Notional Asset Fair Liability Qualifying Hedges Amount Value Fair Value Amount Value Fair Value Cross currency swaps - net investment hedges $ - $ - $ - $ - $ - $ - Foreign currency forward contracts – cash flow hedges - - - - . - Foreign currency forward contracts – net investment hedges Total Qualifying Hedges Non-Qualifying Hedges Cross currency swaps - - - - - - Interest rate swaps (2) Written options - - Purchased options - - Foreign currency forward contracts Total Return Swap (TRS) - - Equity Warrants - - Interest Rate Lock Commitments - - - - Credit derivatives - - - - Total Non-qualifying Hedges Total Hedges $ 14,073.4 $ 168.4 $ (130.2) $ 9,876.7 $ 168.4 $ (62.8) (1) Presented on a gross basis . (2) Fair value balances include accrued interest. Total Return Swaps (“TRS”) Two financing facilities between two wholly-owned subsidiaries of CIT and Goldman Sachs International (“GSI”) are structured as total return swaps (“TRS”), under which amounts available for advances are accounted for as derivatives. Pursuant to applicable accounting guidance, the unutilized portion of the TRS is accounted for as a derivative and recorded at its estimated fair value. The CIT Financial Ltd. (“CFL”) facility is $1.5 billion and the CIT TRS Funding B.V. (“BV”) facility is $625 million. The aggregate “notional amounts” of the total return swaps derivative of $1,138.2 million at September 30, 2015 and $1,091.9 million at December 31, 2014 represent the aggregate unused portions under the CFL and BV facilities and constitute derivative financial instruments. These notional amounts are calculated as the maximum aggregate facility commitment amounts, currently $ 2,125.0 million, less the aggregate actual adjusted qualifying borrowing base outstanding of $ 986.8 million at September 30, 2015 and $ 1,033.1 million at December 3 1, 2014 under the CFL and BV Facilities . The notional amounts of the derivatives will increase as the adjusted qualifying borrowing base decreases due to repayment of the under lying asset-backed securities (ABS ) to investors. If CIT funds additional ABS under the CFL and BV Facilities , the aggregate adjusted qualifying borrowing base of the total return swaps will increase and the notional amount of the derivatives will decrease accordingly. Valuation of the derivatives related to the GSI facilities is based on several factors using a discounted cash flow (“DCF”) methodology, including: CIT’s funding costs for similar financings based on current market conditions; Forecasted usage of the long-dated facilities through the final maturity date in 2028; and Forecasted amortization, due to principal payments on the underlying ABS, which impacts the amount of the unutilized portion. Based on the Company’s valuation, a liability of $ 56.2 million and $24.5 million was recorded at September 30, 2015 and December 31, 2014, respectively. The in creases in the liability of $24.3 million and $31.7 million were recognized as a reduction to Other Income for the quarter and nine months ended September 30, 2015, respe ctively. The change in value of $13.4 million and $3.7 million in the quarter and nine months ended September 30, 2014, respectively, were recognized as reduction to Other Income. Impact of Collateral and Netting Arrangements on the Total Derivative Portfolio The following tables present a summary of our derivative portfolio, which includes the gross amounts of recognized financial assets and liabilities; the amounts offset in the consolidated balance sheet; the net amounts presented in the consolidated balance sheet; the amounts subject to an enforceable master netting arrangement or similar agreement that were not included in the offset amount above, and the amount of cash collateral received or pledged. Substantially all of the derivative transactions are under an International Swaps and Derivatives Association (“ISDA”) agreement. Offsetting of Derivative Assets and Liabilities (dollars in millions) Gross Amounts not offset in the Consolidated Balance Sheet Gross Amount of Recognized Assets (Liabilities) Gross Amount Offset in the Consolidated Balance Sheet Net Amount Presented in the Consolidated Balance Sheet Derivative Financial Instruments (1) Cash Collateral Pledged/(Received) (1)(2) Net Amount September 30, 2015 Derivative assets $ 168.4 $ - $ 168.4 $ (20.2) $ (94.5) $ 53.7 Derivative liabilities - December 31, 2014 Derivative assets $ 168.4 $ - $ 168.4 $ (13.6) $ (137.3) $ 17.5 Derivative liabilities - (1) The Company’s derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts (“Derivative Financial Instruments”) with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreements meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreements, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default of one of the counterparties . (2) Collateral pledged or received is included in Other assets or Other liabilities, respectively. Derivative Instrument Gains and Losses (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, Derivative Instruments Gain / (Loss) Recognized 2015 2014 2015 2014 Qualifying Hedges Foreign currency forward contracts – cash flow hedges Other income - - - - Total Qualifying Hedges $ - $ - Non Qualifying Hedges Cross currency swaps Other income - - - Interest rate swaps Other income Interest rate options Other income Foreign currency forward contracts Other income Equity warrants Other income - TRS Other income Rate Locks Other income - - Risk Participation Agreements Other income - - Total Non-qualifying Hedges Total derivatives-income statement impact $ 70.3 The following table presents the changes in AOCI relating to derivatives: Changes in AOCI Relating to Derivatives (dollars in millions) Contract Type Derivatives - effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income Total income statement impact Derivatives - effective portion recorded in OCI Total change in OCI for period Quarter Ended September 30, 2015 Foreign currency forward contracts - cash flow hedges $ - $ - $ - $ - Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - - - Total $ 4.3 $ 4.3 $ 44.0 $ 39.7 Quarter Ended September 30, 2014 Foreign currency forward contracts - cash flow hedges $ - $ - $ 0.2 $ 0.2 Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - - - Total $ (6.7) $ (6.7) $ 82.2 $ 88.9 Nine Months Ended September 30, 2015 Foreign currency forward contracts - cash flow hedges $ - $ - $ - $ - Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - - - Total $ 8.5 $ 8.5 $ 106.3 $ 97.8 Nine Months Ended September 30, 2014 Foreign currency forward contracts - cash flow hedges $ - $ - $ 0.2 $ 0.2 Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - Total $ (12.8) $ (12.8) $ 64.8 $ 77.6

Other Liabilities

Other Liabilities	9 Months Ended
	Sep. 30, 2015
Other Liabilities [Abstract]
Other Liabilities	NOTE 11 – OTHER LIABILITIES The following table presents components of other liabilities: September 30, 2015 December 31, 2014 Equipment maintenance reserves $ 968.4 $ 960.4 Accrued expenses and accounts payable Current taxes payable and deferred taxes Security and other deposits Accrued interest payable Valuation adjustment relating to aerospace commitments Other (1) Total other liabilities $ 3,395.7 $ 2,888.8 (1) Other consists of other taxes, property tax liabilities and other miscellaneous liabilities. The September 30, 2015 balance includes approximately $300 million related to trade date accounting for an investment security purchased on the last day of the quarter, but the funds did not transfer until October.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2015
Fair Value [Abstract]
Fair Value	NOTE 12 — FAIR VALUE Fair Value Hierarchy The Company is required to report fair value measurements for specified classes of assets and liabilities. See Note 1 — “Business and Summary of Significant Accounting Policies” for fair value measurement policy. The Company characterizes inputs in the determination of fair value according to the fair value hierarchy. The fair value of the Company’s assets and liabilities where the measurement objective specifically requires the use of fair value are set forth in the tables below. Disclosures that follow in this note exclude assets and liabilities classified as discontinued operations. Financial Assets and Liabilities Measured at Estimated Fair Value on a Recurring Basis The following table summarizes the Company’s assets and liabilities measured at estimated fair value on a recurring basis, including those management elected under the fair value option. September 30, 2015 Total Level 1 Level 2 Level 3 Assets Debt Securities AFS $ 3,001.3 $ 300.0 $ 1,748.8 $ 952.5 Equity Securities AFS - - FDIC receivable - - Derivative assets at fair value -non-qualifying hedges (1) - - Derivative assets at fair value - qualifying hedges - - Total $ 3,238.2 $ 314.3 $ 1,917.2 $ 1,006.7 Liabilities Derivative liabilities at fair value - non-qualifying hedges (1) $ (128.8) $ - $ (71.7) $ (57.1) Derivative liabilities at fair value - qualifying hedges - - Consideration holdback liability FDIC True-up Liability - - Total $ (247.3) $ - $ (73.1) $ (174.2) December 31, 2014 Assets Debt Securities AFS $ 1,116.5 $ 212.3 $ 904.2 $ - Equity Securities AFS - - Derivative assets at fair value -non-qualifying hedges (1) - - Derivative assets at fair value - qualifying hedges - - Total $ 1,298.9 $ 226.3 $ 1,072.6 $ - Liabilities Derivative liabilities at fair value - non-qualifying hedges (1) $ (62.8) $ - $ (36.2) $ (26.6) Derivative liabilities at fair value - qualifying hedges - - - - Total $ (62.8) $ - $ (36.2) $ (26.6) (1) Derivative fair values include accrued interest Debt and Equity Securities Classified as Available-For-Sale Debt and equity securities classified as AFS are carried at fair value, as determined either by Level 1, L evel 2 or Level 3 inputs. Debt securities classified as AFS included investments in U.S. Treasury and federal government agency securities and were valued using Level 2 inputs, primarily quoted prices for similar securities. Certain equity securities classified as AFS were valued using Level 1 inputs, primarily quoted prices in active markets . For Agency pass-through MBS, which are classified as Level 2, the Company generally determines estimated fair value utilizing prices obtained from independent broker dealers and recent trading activity for similar assets. For non-Agency MBS, the market for such securities is not active and the estimated fair value was determined using a discounted cash flow technique. The significant unobservable assumptions, which are verified to the extent possible using broker dealer quotes, are estimated by type of underlying collateral, including credit loss assumptions, estimated prepayment speeds and appropriate discount rates. Given the lack of observable market data, the estimated fair value of the non-agency MBS is classified as Level 3. FDIC Receivable —The Company elected to measure its receivable under a participation agreement with the FDIC in connection with the IndyMac Transaction at estimated fair value under the fair value option. The participation agreement provides the Company a secured interest in certain homebuilder, home construction and lot loans, which entitle the Company to a 40% share of the underlying loan cash flows. The receivable is valued by first grouping the loans into similar asset types and stratifying the loans based on their underlying key features such as product type, current payment status and other economic attributes in order to project future cash flows. Projected future cash flows are estimated by taking the Company’s share (40%) of the future cash flows from the underlying loans and real estate properties that include proceeds and interest offset by servicing expenses and servicing fees. Estimated fair value of the FDIC receivable is based on a discounted cash flow technique using significant unobservable inputs, including prepayment rates, default rates, loss severities and liquidation assumptions. To determine the estimated fair value, the cash flows are discounted using a market interest rate that represents an overall weighted average discount rate based on the underlying collateral specific discount rates. Due to the reduced liquidity that exists for such loans and lack of observable market data available, this requires the use of significant unobservable inputs; as a result these measurements are classified as Level 3. Derivative Assets and Liabilities —The Company’s financial derivatives include interest rate swaps, floors, caps, forwards and credit derivatives. These derivatives are valued using models that incorporate inputs depending on the type of derivative, such as, interest rate curves, foreign exchange rates and volatility. Readily observable market inputs to models can be validated to external sources, including industry pricing services, or corroborated through recent trades, broker dealer quotes, yield curves, or other market-related data. As such, these derivative instruments are valued using a Level 2 methodology. In addition, these derivative values incorporate an assessment of the risk of counterparty nonperformance, measured based on the Company’s evaluation of credit risk. For certain customer-related positions and credit derivatives, the risk of nonperformance cannot be observed in the market, therefore the credit valuation adjustments require the derivative measurement to be classified as Level 3. The credit valuation adjustment for nonperformance risk is determined by referring to credit risk adjustments for similar positions in the marketplace and then comparing to actual results quarterly and recalibrating as appropriate. FDIC True-up Liability — In connection with the La Jolla Transaction, the Company recognized a FDIC True-up liability due to the FDIC 45 days after the tenth anniversary of the loss sharing agreement (the maturity) because the actual and estimated cumulative losses on the acquired covered PCI loans are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The FDIC True-up liability was recorded at estimated fair value as of the acquisition date and is remeasured to fair value at each reporting date until the contingency is resolved. The FDIC True-up liability was valued using the discounted cash flow method based on the terms specified in the loss-sharing agreements with the FDIC, the actual FDIC payments collected and significant unobservable inputs, including a risk-adjusted discount rate (reflecting the Company’s credit risk plus a liquidity premium), prepayment and default rates. Due to the significant unobservable inputs used to calculate the estimated fair value, these measurements are classified as Level 3. Consideration Holdback Liability — In connection with the OneWest acquisition, the parties negotiated 4 separate holdbacks related to select ed trailing risks, totaling $116 million, which reduced the cash consideration paid at closing. Any unapplied Holdback funds at the end of the respective holdback periods, which range from 1 – 5 years, are payable to the former OneWest shareholders. Unused funds for any of the four holdbacks cannot be applied against another holdback amount. The range of potential holdback to be paid is from $0 to $116 million. Based on management’s estimate of the probability of each holdback it was determined that the probable amount of holdback to be paid was $62.4 million. The amount expected to be paid was discounted based on CIT’s cost of funds. This contingent consideration was measured at fair value at the acquisition date and is re-measured at fair value in subsequent accounting periods, with the changes in fair value recorded in the statement of income, until the related contingent issues are resolved. Gross payments, which are determined based on the Company’s probability assessment, are discounted at a rate approximating the Company’s aver age coupon rate on deposits and borrowings. Due to the significant unobservable inputs used to calculate the estimated fair value, these measurements are classified as Level 3. The following tables summarize information about significant unobservable inputs related to the Company’s categories of Level 3 financial assets and liabilities measured on a recurring basis as of September 30, 2015. Quantitative Information about Level 3 Fair Value Measurements—Recurring (dollars in millions) (dollars in millions) Financial Instrument Estimated Fair Value Valuation Technique(s) Significant Unobservable Inputs Range of Inputs Weighted Average September 30, 2015 Assets Securities—AFS $ 952.5 Discounted cash flow Discount Rate 0.0% - 49.0% 6.2% Prepayment Rate 3.2% - 22.3% 9.9% Default Rate 0.0% - 9.8% 4.1% Loss Severity 0.1% - 83.3% 32.0% FDIC Receivable Discounted cash flow Discount Rate 9.5% - 15.0% 10.4% Prepayment Rate 2.0% - 14.0% 3.7% Default Rate 6.0% - 36.0% 10.8% Loss Severity 20.0% - 65.0% 31.7% Total Assets $ 1,006.7 Liabilities FDIC True-up liability $ (56.3) Discounted cash flow Discount Rate 4.0% - 4.0% 4.0% Consideration holdback liability Discounted cash flow Payment Probability 0% - 100% 53.8% Discount Rate 3% - 3% 3.0% Derivative liabilities - non qualifying Market Comparables (1) Total Liabilities $ (174.2) (1) The valuation of these derivatives is primarily related to the GSI facilities which is based on several factors using a discounted cash flow methodology, including a) funding costs for similar financings based on current market conditions; b) forecasted usage of long-dated facilities through the final maturity date in 2018; and c) forecasted amortization, due to principal payments on the underlying ABS, which impacts the amount of the unutilized portion. The level of aggregation and diversity within the products disclosed in the tables results in certain ranges of inputs being wide and unevenly distributed across asset and liability categories. For instruments backed by residential real estate, diversity in the portfolio is reflected in a wide range for loss severity due to varying levels of default. The lower end of the range represents high performing loans with a low probability of default while the higher end of the range relates to more distressed loans with a greater risk of default. The valuation techniques used for the Company’s Level 3 assets and liabilities, as presented in the previous tables, are described as follows: • Discounted cash flow —Discounted cash flow valuation techniques generally consist of developing an estimate of future cash flows that are expected to occur over the life of an instrument and then discounting those cash flows at a rate of return that results in the estimated fair value amount. The Company utilizes both the direct and indirect valuation methods. Under the direct method, contractual cash flows are adjusted for expected losses. The adjusted cash flows are discounted at a rate which considers other costs and risks, such as market risk and liquidity. Under the indirect method, contractual cash flows are discounted at a rate which reflects the costs and risks associated with the likelihood of generating the contractual cash flows. • Market comparables —Market comparable(s) pricing valuation techniques are used to determine the estimated fair value of certain instruments by incorporating known inputs such as recent transaction prices, pending transactions, or prices of other similar investments which require significant adjustment to reflect differences in instrument characteristics. Significant unobservable inputs presented in the previous tables are those the Company considers significant to the estimated fair value of the Level 3 asset or liability. The Company considers unobservable inputs to be significant if, by their exclusion, the estimated fair value of the Level 3 asset or liability would be significantly impacted based on qualitative factors such as nature of the instrument, type of valuation technique used, and the significance of the unobservable inputs on the values relative to other inputs used within the valuation. Following is a description of the significant unobservable inputs provided in the tables. • Default rate —is an estimate of the likelihood of not collecting contractual amounts owed expressed as a constant default rate. • Discount rate —is a rate of return used to present value the future expected cash flows to arrive at the estimated fair value of an instrument. The discount rate consists of a benchmark rate component and a risk premium component. The benchmark rate component, for example, LIBOR or U.S. Treasury rates, is generally observable within the market and is necessary to appropriately reflect the time value of money. The risk premium component reflects the amount of compensation market participants require due to the uncertainty inherent in the instruments’ cash flows resulting from risks such as credit and liquidity. • Loss severity —is the percentage of contractual cash flows lost in the event of a default. • Prepayment rate —is the estimated rate at which forecasted prepayments of principal of the related loan or debt instrument are expected to occur, expressed as a constant prepayment rate (“CPR”). " Payment Probability – is an estimate of the likelihood the consideration holdback amount will be required to be paid expressed as a percentage. As reflected above, the Company generally uses discounted cash flow technique s to determine the estimated fair value of Level 3 assets and liabilities. Use of these techniques requires determination of relevant inputs and assumptions, some of which represent significant unobservable inputs and assumptions and as a result, changes in these unobservable inputs (in isolation) may have a significant impact to the estimated fair value. Increases in the probability of default and loss severities will result in lower estimated fair values, as these increases reduce expected cash flows. Increases in the discount rate will result in lower estimated fair values, as these increases reduce the present value of the expected cash flows. Alternatively a change in one unobservable input may result in a change to another unobservable input due to the interrelationship among inputs, which may counteract or magnify the estimated fair value impact from period to period. Generally, the value of the Level 3 assets and liabilities estimated using a discounted cash flow technique would decrease (increase) upon an increase (decrease) in discount rate, default rate, loss severity or weighted average life inputs. Discount rates are influenced by market expectations for the underlying collateral performance, and therefore may directionally move with probability and severity of default; however, discount rates are also impacted by broader market forces, such as competing investment yields, sector liquidity, economic news, and other macroeconomic factors. There is no direct interrelationship between prepayments and discount rate. Prepayment rates generally move in the opposite direction of market interest rates. Increase in the probability of default will generally be accompanied with an increase in loss severity, as both are impacted by underlying collateral values. The following table summarizes the changes in estimated fair value for all assets and liabilities measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3): Changes in Estimated Fair Value of Level 3 Financial Assets and Liabilities Measured on a Recurring Basis (dollars in millions) (dollars in millions) Securities-AFS FDIC Receivable Net Derivatives (1) FDIC True-up Liability Consideration holdback Liability December 31, 2014 - - - - Included in earnings - - Included in comprehensive income - - - - Purchases - Settlements - - - Balance as of September 30, 2015 (dollars in millions) Net Derivatives (1) December 31, 2013 Included in earnings Balance as of September 30, 2014 (1) Valuation of the derivatives related to the GSI facilities and written options on certain CIT Bank CDs. The Company monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in the observability of key inputs to a fair value measurement may result in a transfer of assets or liabilities between Level 1, 2 and 3. The Company’s policy is to recognize transfers in and transfers out as of the end of the reporting period. For the quarter ended September 30, 2015 and 2014, there were no transfers into or out of Level 3. Financial Assets Measured at Estimated Fair Value on a Non - recurring Basis Certain assets or liabilities are required to be measured at estimated fair value on a nonrecurring basis subsequent to initial recognition. Generally, these adjustments are the result of LOCOM or other impairment accounting. In determining the estimated fair values during the period, the Company determined that substantially all the changes in estimated fair value were due to declines in market conditions versus instrument specific credit risk. This was determined by examining the changes in market factors relative to instrument specific factors. Assets and liabilities acquired in the OneWest Transaction were recorded at fair value on the acquisition date. See Note 2 – Acquisition and Disposition Activities for balances and assumptions used in the valuations. The following table presents financial assets measured at estimated fair value on a non-recurring basis for which a non-recurring change in fair value has been recorded in the current year: Carrying Value of Assets Measured at Fair Value on a Non-recurring Basis (dollars in millions) Fair Value Measurements at Reporting Date Using: Total Level 1 Level 2 Level 3 Total (Losses) Assets September 30, 2015 Assets held for sale $ 1,289.4 $ 1,289.4 $ (34.3) Other real estate owned - - Impaired loans - - Total $ 1,470.2 $ - $ - $ 1,470.2 $ (50.5) December 31, 2014 Assets held for sale $ 949.6 $ - $ - $ 949.6 $ (73.6) Impaired loans - - Total $ 962.8 $ - $ - $ 962.8 $ (78.5) Assets of continuing operations that are measured at fair value on a non-recurring basis are as follows: Loans are transferred from held for investment to AHFS at the lower of cost or fair value. At the time of transfer, a write-down of the loan is recorded as a charge-off, if applicable. Once classified as AHFS, the amount by which the carrying value exceeds fair value is recorded as a valuation allowance. Assets Held for Sale — – Assets held for sale are recorded at the lower of cost or fair value on the balance sheet . As there is no liquid secondary market for the other assets held for sale in the Company’s portfolio, the fair value is estimated based on a binding contract, current letter of intent or other third-party valuation, or using internally generated valuations or discounted cash flow technique , all of which are Level 3 inputs. In those instances where third party valuations were utilized, the most significant assumptions were the discount rates which ranged from 4.4% to 7.6% . The estimated fair value of asset s held for sale with impairment at the reporting date was $1,297.5 million. Other Real Estate Owned — Other real estate owned represents collateral acquired from the foreclosure of secured real estate loans. Other real estate owned is measured at LOCOM less disposition costs. Estimated fair values of other real estate owned are reviewed on a quarterly basis and any decline in value below cost is recorded as impairment. Estimated fair value is generally based upon broker price opinions or independent appraisals, adjusted for costs to sell. The estimated costs to sell are incremental direct costs to transact a sale, such as broker commissions , legal fees, closing costs and title transfer fees. The costs must be essential to the sale and would not have been incurred if the decision to sell had not been made. The significant unobservable input is the appraised value or the sales price and thus is classified as Level 3. As of the reporting date, OREO carry ing value approximates fair value. Impaired Loans — Impaired finance receivables of $500,000 or greater that are placed on non-accrual status are subject to periodic individual review in conjunction with the Company’s ongoing problem loan management (PLM) function. Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable, with the estimated value determined using fair value of collateral and other cash flows if the finance r eceivable is collateralized, the present value of expected future cash flows discounted at the co ntract’s effective interest rate, or observable market prices. The significant unobservable inputs result in the Level 3 classification. As of the reporting date, the carry ing value of impaired loans approximates fair value. Fair Value Option The Company has an irrevocable option to elect fair value for the initial and subsequent measurement of the FDIC receivable acquired by OneWest Bank in the IndyMac Transaction, as it was determined at the time of election that this treatment would allow a better economic offset of the changes in estimated fair values of the loans. The following table summarizes the differences between the estimated fair value carrying amount of those assets measured at estimated fair value under the fair value option, and the aggregate unpaid principal amount the Company is contractually entitled to receive or pay respectively: September 30, 2015 (in millions of dollars) Estimated Fair Value Carrying Amount Aggregate Unpaid Principal Estimated Fair Value Carrying Amount Less Aggregate Unpaid FDIC Receivable $ 54.2 $ 213.0 $ (158.8) The gains and losses due to changes in the estimated fair value of the FDIC receivable under the fair value option are included in earnings for the quarter and nine months ended September 30, 2015 and shown in the Financial Assets and Liabilities Measured at Estimated Fair Value on a Recurring Basis section of this Note. As this asset was acquired in the OneWest acquisition, the earnings post acquisition impact of changes in fair value amounted to a loss of $0.7 million. Fair Values of Financial Instruments The carrying values and estimated fair values of financial instruments presented below exclude leases and certain other assets and liabilities, which are not required for disclosure. Financial Instruments (dollars in millions) Estimated Fair Value Carrying September 30, 2015 Value Level 1 Level 2 Level 3 Total Financial Assets Cash and interest bearing deposits $ 8,259.9 $ 8,259.9 $ - $ - $ 8,259.9 Derivative assets at fair value - non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) Loans (excluding leases) - Securities purchased under agreements to resell - - Investment securities (1) Indemnification assets (2) - - Tax credit investments - - Other assets subject to fair value disclosure and unsecured counterparty receivables (3) - - Financial Liabilities Deposits (4) - - Derivative liabilities at fair value - non-qualifying hedges - Derivative liabilities at fair value - qualifying hedges - - Borrowings (4) - Commitment to affordable housing investments - - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (5) - - December 31, 2014 Financial Assets Cash and interest bearing deposits $ 7,119.7 $ 7,119.7 $ - $ - $ 7,119.7 Derivative assets at fair value - non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) - - Loans (excluding leases) (6) - Securities purchased under agreements to resell - - Investment securities Other assets subject to fair value disclosure and unsecured counterparty receivables (3) - - Financial Liabilities Deposits (4) - - Derivative liabilities at fair value - non-qualifying hedges - Borrowings (4) - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (5) - - (1) Level 3 estimated fair value includes debt securities AFS ( $952.5 million), non-marketable investments ( $292.5 million), and debt securities HTM ( $68.3 million). (2) The indemnification assets included in the above table does not include Agency claims indemnification ($67.7 million) andLoan indemnification ( $0.7) million, as they are not considered financial instruments. (3) Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as Level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities (4) Deposits and borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet. (5) Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3. (6) In preparing the interim financial statements for the quarter ended September 30, 2015, the Company discovered and corrected an immaterial error impacting the carrying value and estimated Level 3 fair value relating to the Loans (excluding leases) line item in the amount of $452.6 million; with an estimated fair value using Level 3 inputs of $478.7 million as of December 31, 2014. The methods and assumptions used to estimate the fair value of each class of financial instruments are explained below: Cash and interest bearing deposits —The carrying values of cash and cash equivalents are at face amount. The impact of the time value of money from the unobservable discount rate for restricted cash is inconsequential as of September 30, 2015 and December 31, 2014. Accordingly cash and cash equivalents and restricted cash approximate estimated fair value and are classified as Level 1. Derivatives —The estimated fair values of derivatives were calculated using observable market data and represent the gross amount receivable or payable to terminate, taking into account current market rates, which represent Level 2 inputs, except for the TRS derivative and written options on certain CIT Bank CDs that utilized Level 3 inputs. See Note 10 — Derivative Financial Instruments for notional principal amounts and fair values. Securities purchased under agreements to resell — The estimated fair values of securities purchased under agreements to resell were calculated internally based on discounted cash flows that utilize observable market rates for the applicable maturity and which represent Level 2 inputs. Investment Securities —Debt and equity securities classified as AFS are carried at fair value, as determined either by Level 1 or Level 2 inputs. Debt securities classified as AFS included investments in U.S. Treasury and federal government agency securities and were valued using Level 2 inputs, primarily quoted prices for similar securities. Certain equity securities classified as AFS were valued using Level 1 inputs, primarily quoted prices in active markets . Debt securities classified as HTM include government agency securities and were valued using Level 2 inputs, primarily quoted prices for similar securities. For debt securities HTM where no market rate was available, Level 3 inputs were utilized. Debt securities HTM are securities that the Company has both the ability and the intent to hold until maturity and are carried at amortized cost and periodically assessed for OTTI, with the cost basis reduced when impairment is deemed to be other-than-temporary. Non-marketable equity investments utilize Level 3 inputs to estimate fair value and are generally recorded under the cost or equity method of accounting and are periodically assessed for OTTI, with the net asset values reduced when impairment is deemed to be other-than-temporary. For investments in limited partnership equity interests, we use the net asset value provided by the fund manager as an appropriate measure of fair value. Assets held for sale —Assets held for sale are recorded at the lower of cost or fair value on the balance sheet. Of the assets held for sale above, $21.2 million carrying amount was valued using quoted prices, which are Level 1 inputs, and $9.0 million carrying amount at September 30, 2015 was valued using Level 2 inputs. As there is no liquid secondary market for the other assets held for sale in the Company’s portfolio, the fair value is estimated based on a binding contract, current letter of intent or other third-party valuation, or using internally generated valuations or discounted cash flow technique , all of which are Level 3 inputs. Commercial loans are generally valued individually , which small ticket commercial loans are value on an aggregate portfolio basis. Loans – Within the Loans category, there are several types of loans as follows: · Commercial Loans - Of the loan balance above, approximately $ 1.6 billion at September 30, 2015 and December 31, 2014, respectively, was valued using Level 2 inputs. As there is no liquid secondary market for the other loans in the Company’s portfolio, the fair value is estimated based on discounted cash flow analyses which use Level 3 inputs at both September 30, 2015 and December 31, 2014. In addition to the characteristics of the underlying contracts, key inputs to the analysis include interest rates, prepayment rates, and credit spreads. For the commercial loan portfolio, the market based credit spread inputs are derived from instruments with comparable credit risk characteristics obtained from independent third party vendors. As these Level 3 unobservable inputs are specific to individual loans / collateral types, management does not believe that sensitivity analysis of individual inputs is meaningful, but rather that sensitivity is more meaningfully assessed through the evaluation of aggregate carrying values of the loans. The fair value of loans at September 30, 2015 was $ 28.2 billion, which was 98.1% of carrying value. The fair value of loans at December 31, 2014 was $14.6 billion, which was 98.2% of carrying value. · Impaired Loans – The value of impaired loans is estimated using the fair value of collateral (on an orderly liquidation basis) i f the loan is collateralized, the present value of expected cash flows utilizing the current market rate for such loan , or observable market price . As these Level 3 unobservable inputs are specific to individual loans / collateral types, management does not believe that sensitivity analysis of individual inputs is meaningful, but rather that sensitivity is more meaningfully assessed through the evaluation of aggregate carrying values of impaired loans relative to contractual amounts owed (unpaid principal balance or “UPB”) from customers. As of September 30, 2015, the UPB related to impaired loans totaled $129.6 million. Including related allowances, these loans are carried at $83.9 million, or 64.7% of UPB. Of these amounts, $ 31.2 million and $ 24.8 million of UPB and carrying value, respectively, relate to loans with no specific allowance. As of December 31, 2014 the UPB related to impaired loans , including loans for which the Company was applying the income recognition and disclosure guidance in ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorated Credit Quality), totaled $85.3 million and including related allowances, these loans were carried at $45.1 million, or 53% of UPB. Of these amounts, $29.2 million and $21.2 million of UPB and carrying value relate to loans with no specific allowance. The difference between UPB and carrying value reflects cumulative charge-offs on accounts remaining in process of collection, FSA discounts and allowances. See Note 3 - Loans for more info

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	NOTE 13 — STOCKHOLDERS’ EQUITY In conjunction with the OneWest Transaction, consideration paid included the issuance of approximately 30.9 million shares of CIT Group Inc. common stock, which came out of Treasury shares . A roll forward of common stock activity is presented in the following table. Issued Less Treasury Outstanding Common Stock – December 31, 2014 Common stock issuance - acquisition (1) - Restricted stock issued - Repurchase of common stock - Shares held to cover taxes on vesting restricted shares and other - Employee stock purchase plan participation - Common Stock – September 30, 2015 (1) Excludes approximately 1.0 million of unvested RSUs. Accumulated Other Comprehensive Income/(Loss) The following table details the components of Accumulated Other Comprehensive Loss, net of tax: Components of Accumulated Other Comprehensive Income (Loss) (dollars in millions) September 30, 2015 December 31, 2014 Gross Unrealized Income Taxes Net Unrealized Gross Unrealized Income Taxes Net Unrealized Foreign currency translation adjustments $ (75.3) $ (33.5) $ (108.8) $ (75.4) $ - $ (75.4) Changes in benefit plan net gain (loss) and prior service (cost)/credit Unrealized net gains (losses) on available for sale securities - - - Total accumulated other comprehensive loss $ (144.8) $ (29.5) $ (174.3) $ (134.1) $ 0.2 $ (133.9) The following table details the changes in the components of Accumulated Other Comprehensive Income (Loss), net of income taxes: Changes in Accumulated Other Comprehensive Loss by Component (dollars in millions) Foreign currency translation adjustments Changes in benefit plan net gain (loss) and prior service (cost) credit Changes in fair values of derivatives qualifying as cash flow hedges Unrealized net gains (losses) on available for sale securities Total AOCI Balance as of December 31, 2014 $ (75.4) $ (58.5) $ - $ - $ (133.9) AOCI activity before reclassifications - Amounts reclassified from AOCI - - Net current period AOCI - Balance as of September 30, 2015 $ (108.8) $ (59.6) $ - $ (5.9) $ (174.3) Balance as of December 31, 2013 $ (49.4) $ (24.1) $ (0.2) $ 0.1 $ (73.6) AOCI activity before reclassifications - Amounts reclassified from AOCI - Net current period AOCI Balance as of September 30, 2014 $ (63.0) $ (19.1) $ - $ - $ (82.1) Other Comprehensive Income/(Loss) The amounts included in the Statement of Comprehensive Income (Loss) are net of income taxes. Foreign currency translation reclassification adjustments impacting net income were $18.8 million and $4.9 million for the quarters ended September 30, 2015 and 2014, respectively and were $22.2 million and $7.3 million for the corresponding year to date periods. The change in income taxes associated with foreign currency translation adjustments was $(20.4) million and $(33.5) million for the quarter and nine months ended September 30, 2015 and there were no income taxes associated with foreign currency translation adjustments in the prior year periods. The changes in benefit plans net gain/(loss) and prior service (cost)/credit reclassification adjustments impacting net income was $0.5 million and $ 0.6 million for the quarter and nine months ended September 30, 2015 and was $1.7 million and $5.0 million for the quarter and nine months ended September 30, 2014. The change in income taxes associated with changes in benefit plans net gain/(loss) and prior service (cost)/credit was $(0.3) million and insignificant for the quarter and nine months ended September 30, 2015 was not significant for the prior year periods . There were no reclassification adjustments impacting net income related to changes in fair value of derivatives qualifying as cash flow hedges for the quarters or nine months ended September 30, 2015 and 2014. There were no income taxes associated with changes in fair values of derivatives qualifying as cash flow hedges for the quarters or nine months ended September 30, 2015 and 2014. There were no reclassification adjustments impacting net income for unrealized gains (losses) on available for sale securities for the quarters or nine months ended September 30, 2015 compared to $0.3 million and $0.5 million for the quarter and nine months ended September 30, 2014. The change in income taxes associated with net unrealized gains on available for sale securities was approximately $4.0 million and $3.8 million for the quarter and nine months ended September 30, 2015 and was $ 0.2 million for the quarter and $0.1 million for the nine months ended September 30, 2014. The Company has operations in Canada and other countries. The functional currency for foreign operations is generally the local currency. The value of assets and liabilities of these operations is translated into U.S. dollars at the rate of exchange in effect at the balance sheet date. Revenue and expense items are translated at the average exchange rates during the year. The resulting foreign currency translation gains and losses, as well as offsetting gains and losses on hedges of net investments in foreign operations, are reflected in AOCI. Transaction gains and losses resulting from exchange rate changes on transactions denominated in currencies other than the functional currency are recorded in Other Income. Reclassifications Out of Accumulated Other Comprehensive Income (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Affected Income Statement line item Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Foreign currency translation adjustments gains (losses) $ 19.2 $ (0.4) $ 18.8 $ 4.9 $ - $ 4.9 $ 22.6 $ (0.4) $ 22.2 $ 7.3 $ - $ 7.3 Operating Expenses Changes in benefit plan net gain/(loss) and prior service (cost)/credit gains (losses) - - Operating Expenses Changes in fair value of derivatives qualifying as cash flow hedges gains (losses) - - - - - - - - - - - - Other Income Unrealized net gains (losses) on available for sale securities - - - - - - Other Income Total Reclassifications out of AOCI $ 19.9 $ (0.6) $ 19.3 $ 7.1 $ (0.2) $ 6.9 $ 23.5 $ (0.7) $ 22.8 $ 13.1 $ (0.3) $ 12.8

Regulatory Capital

Regulatory Capital	9 Months Ended
	Sep. 30, 2015
Regulatory Capital [Abstract]
Regulatory Capital	NOTE 14 — REGULATORY CAPITAL CIT acquired the assets and liabilities of OneWest Bank during the quarter, as described in Note 2. The impact of the acquisition is reflected in the balances and ratios as of September 30, 2015 for both CIT and CIT Bank, N.A. The Company and the Bank are each subject to various regulatory capital requirements administered by the FRB and the OCC. Quantitative measures established by regulation to ensure capital adequacy require that the Company and the Bank each maintain minimum amounts and ratios of Total, Tier 1 and Common Equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. We compute capital ratios in accordance with Federal Reserve capital guidelines for assessing adequacy of capital. At September 30, 2015, the regulatory capital guidelines applicable to the Company were based on the Basel III Final Rule. At December 31, 2014, the regulatory capital guidelines that were applicable to the Company were based on the Capital Accord of the Basel Committee on Banking Supervision (Basel I). The calculation of the Company’s regulatory capital ratios are subject to review and consultation with the FRB, which may result in refinements to amounts reported at September 30, 2015. The following table summarizes the actual and minimum required capital ratios: Tier 1 Capital and Total Capital Components (1) (dollars in millions) CIT CIT Bank September 30, December 31, September 30, December 31, Tier 1 Capital 2015 2014 2015 2014 Total stockholders’ equity (2) $ 10,798.7 $ 9,068.9 $ 5,555.7 $ 2,716.4 Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interests Adjusted total equity Less: Goodwill (3) Disallowed deferred tax assets - - Disallowed intangible assets (3) Investment in certain subsidiaries NA NA - Other Tier 1 components (4) - - - Common Equity Tier 1 Capital Tier 1 Capital Tier 2 Capital Qualifying allowance for credit losses and other reserves (5) Less: Investment in certain subsidiaries NA NA - Other Tier 2 components (6) - - Total qualifying capital $ 9,245.5 $ 8,412.4 $ 5,091.6 $ 2,781.5 Risk-weighted assets $ 69,610.6 $ 55,480.9 $ 35,755.3 $ 19,552.3 Common Equity Tier 1 Capital (to risk-weighted assets): Actual NA NA Effective minimum ratios under Basel III guidelines (7) NA NA Tier 1 Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Total Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Tier 1 Leverage Ratio: Actual Required minimum ratio for capital adequacy purposes (1) The September 30, 2015 presentation reflects the risk-based capital guidelines under Basel III, which became effective on January 1, 2015. The December 31, 2014 presentation reflects the risk-based capital guidelines under the then effective Basel I. (2) See Consolidated Balance Sheets for the components of Total stockholders’ equity. (3) Goodwill and disallowed intangible assets adjustments also reflect the portion included within assets held for sale. (4) Includes the Tier 1 capital charge for nonfinancial equity investments under Basel I. (5) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit, and deferred purchase agreements, all of which are recorded in Other Liabilities. (6) Banking organizations are permitted to include in Tier 2 Capital up to 45% of net unrealized pretax gains on available-for-sale equity securities with readily determinable fair values. (7) Required ratios under the fully phased-in Basel III Final Rule and include the post-transition minimum capital conservation buffer effective January 1, 2019. NA – Balance is not applicable under the respective guidelines. As it currently applies to CIT, the Basel III Final Rule: (i) introduces a new capital measure called “Common Equity Tier 1” (“CET1”) and related regulatory capital ratio of CET1 to risk-weighted assets; (ii) specifies that Tier 1 capital consists of CET1 and “Additional Tier 1 capital” instruments meeting certain revised requirements; (iii) mandates that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital; and (iv) expands the scope of the deductions from and adjustments to capital as compared to the prior regulations. Prior to 2015, the Company had been subject to the guidelines under Basel I. The Basel III Final Rule also prescribed new approaches for risk weightings. Of these, CIT will calculate risk weightings using the Standardized Approach. This approach expands the risk-weighting categories from the former four Basel I-derived categories ( 0% , 20% , 50% and 100% ) to a larger and more risk-sensitive number of categories, depending on the nature of the exposure, ranging from 0% for U.S. government and agency securities to as high as 1,250% for such exposures as mortgage backed securities, credit-enhancing interest-only strips or unsettled security/commodity transactions. The Basel III Final Rule established new minimum capital ratios for CET1, Tier 1 capital, and Total capital of 4.5% , 6.0% and 8.0% , respectively. In addition, the Basel III Final Rule also introduced a new “capital conservation buffer”, composed entirely of CET1, on top of these minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of CET1 to risk-weighted assets above the minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. This buffer will be implemented beginning January 1, 2016 at the 0.625% level and increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 15 – EARNINGS PER SHARE The reconciliation of the numerator and denominator of basic EPS with that of diluted EPS is presented below: Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 Earnings / (Loss) Income (loss) from continuing operations $ $ $ $ Income (loss) from discontinued operation Net income (loss) $ $ $ $ Weighted Average Common Shares Outstanding Basic shares outstanding Stock-based awards (1) Diluted shares outstanding Basic Earnings Per common share data Income (loss) from continuing operations $ $ $ $ Income (loss) from discontinued operation ($0.02) $ ($0.02) $ Basic income (loss) per common share $ $ $ $ Diluted Earnings Per common share data Income (loss) from continuing operations $ $ $ $ Income (loss) from discontinued operation ($0.02) $ ($0.02) $ Diluted income (loss) per common share $ $ $ $ (1) Represents the incremental shares from in-the-money non-qualified restricted stock awards, performance shares, and stock options. Weighted average restricted shares, performance shares and options that were out-of-the money and excluded from diluted earnings per share totaled 1.9 million and 1.7 million, for the quarter and nine months ended September 30, 2015.

Non-Interest Income

Non-Interest Income	9 Months Ended
	Sep. 30, 2015
Non-Interest Income [Abstract]
Non-Interest Income	NOTE 16 – NON-INTEREST INCOME The following table sets forth the components of non-interest income: Non-interest Income (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 Rental income on operating leases $ 539.3 $ 535.0 $ 1,601.6 $ 1,546.5 Other Income: Factoring commissions Gains on sales of leasing equipment Fee revenues Gains on investments Counterparty receivable accretion - - - Loss on OREO sales - - (Loss) gains on loan and portfolio sales Net losses on derivatives and foreign currency exchange Impairment on assets held for sale Other revenues Total other income Total non-interest income $ 578.5 $ 559.2 $ 1,790.7 $ 1,735.5

Non-Interest Expenses

Non-Interest Expenses	9 Months Ended
	Sep. 30, 2015
Non-Interest Expenses [Abstract]
Non-Interest Expenses	NOTE 17 – NON-INTEREST EXPENSES The following table sets forth the components of Non-interest expenses: Non-interest Expense (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 Depreciation on operating lease equipment $ (159.1) $ (156.4) $ (473.7) $ (462.5) Maintenance and other operating lease expenses Operating expenses: Intangible assets amortization Provision for severance and facilities existing activities Advertising and marketing Net occupancy expense Technology Professional fees Compensation and benefits Other expenses Total operating expenses Loss on debt extinguishments - Total non-interest expenses $ (549.2) $ (437.4) $ (1,436.0) $ (1,303.0)

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Taxes [Abstract]
Income Taxes	NOTE 18 – INCOME TAXES The Company’s global effective income tax rate from continuing operations for the third quarter and nine months ended September 30, 2015 before discrete items was 23 % and 27% , respectively, up from 0% in the year-ago quarter and 5% in the nine months ended September 30, 2014. The increase in the global effective tax rate is primarily the consequence of the partial release of the valuation allowance on the Company’s U.S. Federal net deferred tax assets in 2014 resulting in the current recognition of income tax expense on domestic earnings. The third quarter and nine months ended September 30, 2015 tax provision reflected federal and state income taxes in the U.S. as well as taxes on earnings of certain international operations. The projected 2015 annual effective income tax rate is 27% before the impact of discrete tax items. The decrease in the projected annual effective tax rate from 29% in the prior quarter is primarily driven by the tax benefit recognized on the release of a portion of the domestic valuation allowance on the incremental current-year income expected from the OneWest acquisition partially offset by federal tax on international income from certain jurisdictions. Included in the discrete tax benefits of $593 million and $598 million for the current quarter and year to date was: $647 million tax benefit recorded in the third quarter corresponding to a reduction to the U.S. federal deferred tax asset valuation allowance after considering the impact on earnings of the OneWest acquisition to support the Company’s ability to utilize the U.S. federal net operating losses, $2 8 million tax expense including interest and penalties recorded in the third quarter related to an uncertain tax position taken on certain prior year international tax returns, $28 million tax expense recorded in the third quarter related to establishment of domestic and international deferred tax liabilities as a result of Management’s decision to no longer assert its intent to indefinitely reinvest its unremitted earnings in China, and $9 million tax benefit recorded in the prior quarter corresponding to a reduction of certain tax reserves upon the receipt of a favorable tax ruling on an uncertain tax position taken on prior years’ tax returns. Included in the year- ago quarter and nine months period discrete tax benefit of $400.6 million and $394.6 million, respectively, was a $375 million tax benefit relating to the reduction to the U.S. net federal deferred tax asset valuation allowance, and approximately a $30 million tax benefit related to an adjustment to the U.S. federal and state valuation allowances due to the acquisition of Direct Capital, offset partially by other miscellaneous net tax expense items. The quarterly income tax expense is based on an updated projection of the Company’s annual effective tax rate. This updated annual effective tax rate is applied to the year-to-date consolidated pre-tax income to determine the interim provision for income taxes before discrete items. The impact of any change in the projected annual effective tax rate from the prior quarter is reflected in the quarterly income tax expense. The change in the effective tax rate each period is impacted by a number of factors, including the relative mix of domestic and international earnings, adjustments to the valuation allowances, and discrete items. The actual year- end 2015 effective tax rate may vary from the currently projected tax rate due to changes in these factors. As of December 31, 2014, CIT had cumulative U.S. federal net operating loss carry-forwards (“NOLs”) of $5.7 billion, of which $3.0 billion was related to pre-emergence losses. These NOLs will expire between 2027 and 2033 . The Company generated a modest amount of domestic taxable income for the year-to-date, which marginally decreased the U.S. federal net operating loss carry-forwards. Pursuant to Section 382 of the Internal Revenue Code, the Company is generally subject to a $264.7 million annual limitation on the use of its $3.0 billion of pre-emergence NOLs, of which approximately $1.0 billion is no longer subject to the limitation. NOLs arising in post-emergence years are not subject to this limitation absent an ownership change as defined by the Internal Revenue Service (IRS) for U.S. tax purposes. As noted in our 2014 Annual Report on Form 10-K, management concluded that it was more likely than not that the Company would generate sufficient taxable income based on management’s long-term forecast of future U.S. taxable income within the applicable carry-forward periods to support partial utilization of the U.S. federal and U.S. state NOLs. The forecast of future taxable income for the Company reflected a long-term view of growth and returns that management believed is more likely than not of being realized. However, the Company retained a valuation allowance of $1.0 billion against its U.S. net deferred tax assets at December 31, 2014. Of the $1.0 billion domestic valuation allowance, approximately $0.7 billion was against the deferred tax asset on the U.S. federal NOLs and $0.3 billion was against the deferred tax asset on the U.S. state NOLs. The ability to recognize the remaining valuation allowances against the U.S. federal and state NOLs, and capital loss carry-forwards net deferred tax assets will be evaluated on a quarterly basis to determine if there are any significant events that would affect our ability to utilize these deferred tax assets. If events are identified that affect our ability to utilize our deferred tax assets, the analysis will be updated to determine if any adjustments to the valuation allowances are required. Such events may include acquisitions that support the Company’s long-term business strategies while also enabling it to accelerate the utilization of its net operating losses, as evidenced by the acquisition of Direct Capital Corporation in 2014 and the recently completed acquisition of OneWest Bank. Based on the acquisition of OneWest during the current quarter, Management updated the Company’s long-term forecast of future U.S. taxable income to include the impact of this acquisition. The updated long-term forecast supports the utilization of all of the U.S. federal NOLs prior to their expiration. Accordingly, Management concluded that it is more likely than not that the Company will generate sufficient future taxable income within the applicable carry-forward periods to enable the Company to reverse the remaining $690 million of U.S. federal valuation allowance, $647 million of which is recorded as a discrete item in the current quarter, and the remainder has been included in the annual effective tax rate as normal course as the Company recognizes additional U.S. taxable income related to the OneWest acquisition. The Company also evaluated the impact of the OneWest acquisition on its ability to utilize the NOLs of its state income tax reporting entities and concluded that no additional reduction to the U.S. state valuation allowance is required. These state income tax reporting entities include both combined unitary state income tax reporting entities and separate state income tax reporting entities in various jurisdictions. The Company analyzed the state net operating loss carry-forwards for each of these reporting entities to determine the amounts that are expected to expire unused. Based on this analysis, it was determined that the valuation allowance was still required on U.S. state deferred tax assets on certain net operating loss carry-forwards. The negative evidence supporting this conclusion is as follows: · Separate State filing entities remained in a three year cumulative loss. · State NOLs expiration periods vary in time and availability The Company maintained a valuation allowance of $141 million against certain international reporting entities’ net deferred tax assets at December 31, 2014. In the current reporting period, uncertainties surrounding the Company’s future international business operations, the recent international platform rationalizations, and the “cumulative losses in recent years” have made it challenging to reliably project future taxable income. Management will continue to assess the forecast of future taxable income as the business plans for the international operations evolve and evaluate potential tax planning strategies to utilize these net deferred tax assets. However, as of this reporting period, the negative evidence continues to outweigh the positive evidence, and the Company continues to maintain a full valuation allowance on these entities’ net deferred tax assets. Liabilities for Uncertain Tax Positions The Company’s potential liability for uncertain tax positions before interest and penalties totaled $75.4 million at September 30, 2015 and $53.7 million at December 31, 2014. The increase in the balance is mainly comprised of the following items: 1) a $14 million increase this quarter associated with an uncertain tax position taken on certain prior-year international income tax returns, 2) a $21 million increase this quarter from pre-acquisition uncertain tax positions of OneWest assumed by the Company partially offset by 3) a $9 million tax benefit resulting from the receipt of a favorable tax ruling in the second quarter on an uncertain tax position taken on the prior years’ tax returns. Of the $21 million increase mentioned above related to the OneWest transaction, $6 million was fully offset by a corresponding decrease to goodwill included in the purchase price accounting adjustments. The Company anticipates changes to its uncertain tax positions from resolution of open tax matters and closure of statutes. Management estimates that the total potential liability before interest and penalties may be reduced by up to $30 million within the next twelve months. If these amounts are resolved in favor of the Company, they will have a favorable impact on the effective tax rate in future periods. The Company’s accrued liability for interest and penalties totaled $29.5 million at September 30, 2015 and $13.3 million at December 31, 2014. The change in balance is mainly related to the interest and penalties associated with the above mentioned uncertain tax position taken on certain prior-year international income tax returns. The Company recognizes accrued interest and penalties on unrecognized tax benefits in income tax expense.

Commitments

Commitments	9 Months Ended
	Sep. 30, 2015
Commitments [Abstract]
Commitments	NOTE 19 — COMMITMENTS The accompanying table summarizes credit-related commitments , as well as purchase and funding commitments: Commitments (dollars in millions) September 30, 2015 December 31, Due to Expire 2014 Within After Total Total One Year One Year Outstanding Outstanding Financing Commitments Financing and leasing assets $ 1,674.7 $ 5,826.7 $ 7,501.4 $ 4,747.9 Letters of credit Standby letters of credit Other letters of credit Guarantees Deferred purchase agreements - Guarantees, acceptances and other recourse obligations - Purchase and Funding Commitments Aerospace manufacturer purchase commitments Rail and other manufacturer purchase commitments Financing Commitments Commercial Financing commitments, referred to as loan commitments or lines of credit, reflect CIT’s agreements to lend to its customers, subject to the customers’ compliance with contractual obligations. Included in the table above are commitments that have been extended to and accepted by customers, clients or agents, but on which the criteria for funding have not been completed of $1,138 million at September 30, 2015 and $355 million at December 31, 2014. Financing commitments also include credit line agreements to Commercial Services clients that are cancellable by us only after a notice period. The notice period is typically 90 days or less. The amount available under these credit lines, net of the amount of receivables assigned to us, was $391 million at September 30, 2015 and $112 million at December 31, 2014. As financing commitments may not be fully drawn, may expire unused, may be reduced or cancelled at the customer’s request, and may require the customer to be in compliance with certain conditions, total commitment amounts do not necessarily reflect actual future cash flow requirements. The table above includes approximately $1.7 billion of undrawn financing commitments at September 30, 2015 and $1.3 billion at December 31, 2014 for instances where the customer is not in compliance with contractual obligations, and therefore CIT does not have the contractual obligation to lend. At September 30, 2015, substantially all undrawn financing commitments were senior facilities. Most of the Company’s undrawn and available financing commitments are in the Commercial Banking division of NAB. The OneWest Transaction added over $1 billion of commercial lines of credit. The table above excludes uncommitted revolving credit facilities extended by Commercial Services to its clients for working capital purposes. In connection with these facilities, Commercial Services has the sole discretion throughout the duration of these facilities to determine the amount of credit that may be made available to its clients at any time and whether to honor any specific advance requests made by its clients under these credit facilities. Consumer In conjunction with the OneWest Transaction, the Company is committed to fund draws on certain reverse mortgages in conjunction with loss sharing agreements with the FDIC. The FDIC agreed to indemnify the Company for losses on the first $200 million of draws that occur subsequent to the purchase date. In addition, the FDIC agreed to fund any other draws in excess of the $200 million. The Company’s net exposure for loan commitments on the reverse mortgage draws on those purchased loans was $47 million at September 30, 2015. See Note 5 – Indemnification Assets for further discussion on loss sharing agreements with the FDIC. In addition, as servicer of HECM loans, the Company is required to repurchase the loan out of the GNMA HMBS securitization pools once the outstanding principal balance is equal to or greater than 98% of the maximum claim amount. Also included was the Company’s commitment to fund draws on certain home equity lines of credit (“HELOCs”). Under the HELOC participation and servicing agreement entered into with the FDIC, the FDIC agreed to reimburse the Company for a portion of the draws that the Company made on the purchased HELOCs. Letters of Credit In the normal course of meeting the needs of clients, CIT sometimes enters into agreements to provide financing and letters of credit. Standby letters of credit obligate the issuer of the letter of credit to pay the beneficiary if a client on whose behalf the letter of credit was issued does not meet its obligation. These financial instruments generate fees and involve, to varying degrees, elements of credit risk in excess of amounts recognized in the Consolidated Balance Sheets. To minimize potential credit risk, CIT generally requires collateral and in some cases additional forms of credit support from the client. Deferred Purchase Agreements A Deferred Purchase Agreement (“DPA”) is provided in conjunction with factoring, whereby CIT provides a client with credit protection for trade receivables without purchasing the receivables. The trade receivable terms are generally ninety days or less. If the client’s customer is unable to pay an undisputed receivable solely as the result of credit risk, then CIT purchases the receivable from the client. The outstanding amount in the table above is the maximum potential exposure that CIT would be required to pay under all DPAs. This maximum amount would only occur if all receivables subject to DPAs default in the manner described above, thereby requiring CIT to purchase all such receivables from the DPA clients. The table above includes $1,703 million and $1,775 million of DPA credit protection at September 30, 2015 and December 31, 2014, respectively, related to receivables which have been presented to us for credit protection after shipment of goods has occurred and the customer has been invoiced. The table also includes $89 million and $79 million available under DPA credit line agreements, net of the amount of DPA credit protection provided at September 30, 2015 and December 31, 2014, respectively. The DPA credit line agreements specify a contractually committed amount of DPA credit protection and are cancellable by us only after a notice period. The notice period is typically 90 days or less. The methodology used to determine the DPA liability is similar to the methodology used to determine the allowance for loan losses associated with the finance receivables, which reflects embedded losses based on various factors, including expected losses reflecting the Company’s internal customer and facility credit ratings. The liability recorded in Other Liabilities related to the DPAs totaled $4.9 million and $5.2 million at September 30, 2015 and December 31, 2014, respectively. Purchase and Funding Commitments CIT’s purchase commitments relate primarily to purchases of commercial aircraft and rail equipment. Commitments to purchase new commercial aircraft are predominantly wit h Airbus Industries (“Airbus”) and The Boeing Company (“Boeing ”) . CIT may also commit to purchase an aircraft directly from an airline. Aerospace equipment purchases are contracted for specific models, using baseline aircraft specifications at fixed prices, which reflect discounts from fair market purchase prices prevailing at the time of commitment. The delivery price of an aircraft may change depending on final specifications. Equipment purchases are recorded at the delivery date. The estimated commitment amounts in the preceding table are based on contracted purchase prices reduced for pre-delivery payments to date and exclude buyer furnished equipment selected by the lessee. Pursuant to existing contractual commitments, 148 aircraft remain to be purchased from Airbus, Boeing and Embraer at September 30, 2015. Aircraft deliveries are scheduled periodically through 2020. Commitments exclude unexercised options to order additional aircraft. Aerospace purchase commitments also include $0.2 billion of equipment to be purchased in 2015 pursuant to sale and lease-back agreements with airlines. The Company’s rail business entered into commitments to purchase railcars from multiple manufacturers. At September 30, 2015, approximately 9,800 railcars remain to be purchased from manufacturers with deliveries through 2017. Rail equipment purchase commitments are at fixed prices subject to price increases for certain materials. Other vendor purchase commitments primarily relate to Equipment Finance. Other Commitments The Company has commitments to invest in affordable housing investments, and other investments qualifying for community reinvestment tax credits. These commitments are payable on demand. As of September 30, 2015, these commitments were $20 million. These commitments are recorded in accrued expenses and Other liabilities in the condensed Consolidated Statement of Financial Position . In addition, as servicer of HECM loans, the Company is required to repurchase loans out of the GNMA HMBS securitization pools once the outstanding principal balance is equal to or greater than 98% of the maximum claim amount. Refer to Note 3 — Loans for further detail regarding the purchased HECM loans due to this servicer obligation.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2015
Contingencies [Abstract]
Contingencies	NOTE 20 — CONTINGENCIES Litigation CIT is currently involved, and from time to time in the future may be involved, in a number of pending and threatened judicial, regulatory, and arbitration proceedings relating to matters that arise in connection with the conduct of its business (collectively, “Litigation”). In view of the inherent difficulty of predicting the outcome of Litigation matters, particularly when such matters are in their early stages or where the claimants seek indeterminate damages, CIT cannot state with confidence what the eventual outcome of the pending Litigation will be, what the timing of the ultimate resolution of these matters will be, or what the eventual loss, fines, or penalties related to each pending matter will be, if any. In accordance with applicable accounting guidance, CIT establishes reserves for Litigation when those matters present loss contingencies as to which it is both probable that a loss will occur and the amount of such loss can be reasonably estimated. Based on currently available information, CIT believes that the results of Litigation that is currently pending, taken together, will not have a material adverse effect on the Company’s financial condition, but may be material to the Company’s operating results or cash flows for any particular period, depending in part on its operating results for that period. The actual results of resolving such matters may be substantially higher than the amounts reserved. For certain Litigation matters in which the Company is involved, the Company is able to estimate a range of reasonably possible losses in excess of established reserves and insurance. For other matters for which a loss is probable or reasonably possible, such an estimate cannot be determined. For Litigation where losses are reasonably possible, management currently estimates the aggregate range of reasonably possible losses as up to $80 million in excess of established reserves and insurance related to those matters, if any. This estimate represents reasonably possible losses (in excess of established reserves and insurance) over the life of such Litigation, which may span a currently indeterminable number of years, and is based on information currently available as of September 30, 2015. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate. Those Litigation matters for which an estimate is not reasonably possible or as to which a loss does not appear to be reasonably possible, based on current information, are not included within this estimated range and, therefore, this estimated range does not represent the Company’s maximum loss exposure. The foregoing statements about CIT’s Litigation are based on the Company’s judgments, assumptions, and estimates and are necessarily subjective and uncertain. The Company has several hundred threatened and pending judicial, regulatory and arbitration proceedings at various stages. Several of the Company’s Litigation matters are described below. LAC-MÉGANTIC, QUEBEC DERAILMENT On July 6, 2013, a freight train including five locomotives and seventy-two tank cars carrying crude oil derailed in the town of Lac-Mégantic, Quebec. Nine of the tank cars were owned by The CIT Group/Equipment Financing, Inc. (“CIT/EF”) (a wholly-owned subsidiary of the Company) and leased to Western Petroleum Company (“WPC”), a subsidiary of World Fuel Services Corp. (“WFS”). Two of the locomotives are owned by CIT/EF and were leased to Montreal, Maine & Atlantic Railway, Ltd. (“MMA”), the railroad operating the freight train at the time of the derailment, a subsidiary of Rail World, Inc. The derailment was followed by explosions and fire, which resulted in the deaths of over forty people and an unknown number of injuries, the destruction of more than thirty buildings in Lac-Mégantic, and the release of crude oil on land and into the Chaudière River. The extent of the property and environmental damage has not yet been determined. Twenty lawsuits have been filed in Illinois by representatives of the deceased in connection with the derailment. The Company is named as a defendant in seven of the Illinois lawsuits, together with 13 other defendants, including WPC, MMA (who has since been dismissed without prejudice as a result of its chapter 11 bankruptcy filing on August 7, 2013), and the lessors of the other locomotives and tank cars. Liability could be joint and several among some or all of the defendants. All but two of these cases have been consolidated in the U.S. District Court in the Northern District of Illinois and transferred to the U.S. District Court in Maine. The Company has been named as an additional defendant in a pending class action in the Superior Court of Quebec, Canada. Other cases may be filed in U.S. and Canadian courts. The plaintiffs in the pending U.S. and Canadian actions assert claims of negligence and strict liability based upon alleged design defect against the Company in connection with the CIT/EF tank cars. The Company has rights of indemnification and defense against its lessees, WPC and MMA (a debtor in bankruptcy), and also has rights as an additional insured under liability coverage maintained by the lessees. On July 28, 2014, the Company commenced a lawsuit against WPC in the U.S. District Court in the District of Minnesota to enforce its rights of indemnification and defense. In addition to its indemnification and insurance rights against its lessees, the Company and its subsidiaries maintain contingent and general liability insurance for claims of this nature, and the Company and its insurers are working cooperatively with respect to these claims. The Lac-Mégantic derailment triggered a number of regulatory investigations and actions. The Transportation Safety Board of Canada issued its final report on the cause(s) of the derailment in September 2014. In addition, Quebec’s Environment Ministry has issued an order to WFS, WPC, MMA, and Canadian Pacific Railway (which allegedly subcontracted with MMA) to pay for the full cost of environmental clean-up and damage assessment related to the derailment. Effective on November 4 , 2015, the Company settled all claims that have been or could be asserted in the various pending lawsuits with MMA’s U.S. bankruptcy trustee and the Canadian bankruptcy monitor. In addition, the Company settled its ind emnification claims against the lessees. The settlements, net of insurance and indemnification recoveries and existing reserves will not have a material adverse effect on the Company’s financial condition or results of operations. BRAZILIAN TAX MATTERS Banco Commercial Investment Trust do Brasil S.A. (“Banco CIT”), CIT’s Brazilian bank subsidiary, is pursuing a number of tax appeals relating to disputed local tax assessments on leasing services and importation of equipment. The disputes primarily involve questions of whether the correct taxing authorities were paid and whether the proper tax rate was applied. ISS Tax Appeals Notices of infraction were received relating to the payment of Imposto sobre Serviços (“ISS”), charged by municipalities in connection with services. The Brazilian municipalities of Itu and Cascavel claim that Banco CIT should have paid them ISS tax on leasing services for tax years 2006 — 2011. Instead, Banco CIT paid the ISS tax to Barueri, the municipality in which it is domiciled in São Paulo, Brazil. The disputed issue is whether the ISS tax should be paid to the municipality in which the leasing company is located or the municipality in which the services were rendered or the customer is located. One of the pending ISS tax matters was resolved in favor of Banco CIT in April 2014. The amounts claimed by the taxing authorities of Itu and Cascavel collectively for open tax assessments and penalties are approximately 533,000 Reais (approximately $135,000) . Favorable legal precedent in a similar tax appeal has been issued by Brazil’s highest court resolving the conflict between municipalities. ICMS Tax Appeals Notices of infraction were received relating to the payment of Imposto sobre Circulaco de Mercadorias e Servicos (“ICMS”) taxes charged by states in connection with the importation of equipment. The state of São Paulo claims that Banco CIT should have paid it ICMS tax for tax years 2006 — 2009 because Banco CIT, the purchaser, is located in São Paulo. Instead, Banco CIT paid ICMS tax to the states of Espirito Santo, Espirito Santa Caterina, and Alagoas, where the imported equipment arrived. A regulation issued by São Paulo in December 2013 reaffirms a 2009 agreement by São Paulo to conditionally recognize ICMS tax payments made to Espirito Santo. One of the pending notices of infraction against Banco CIT related to taxes paid to Espirito Santo was extinguished in May 2014. Another assessment related to taxes paid to Espirito Santo in the amount of 66.7 million Reais ($21.5 million) was upheld in a ruling issued by the administrative court in May 2014. That ruling has been appealed. Petitions seeking recognition of the taxes paid to Espirito Santo have been filed with respect to the pending notices of infraction. Petitions were filed in a general amnesty program regarding all but one of the assessments related to taxes paid to Santa Caterina and Alagoas. Those petitions have resulted in the extinguishment of all but one of the Santa Caterina and Alagoas assessments. The amounts claimed by São Paulo collectively for open tax assessments and penalties are approximately 74.4 million Reais (approximately $18.8 million) for goods imported into the state of Espirito Santo from 2006 — 2009 and the state of Alagoas in 2008. A notice of infraction was received relating to São Paulo’s challenge of the ICMS tax rate paid by Banco CIT for tax years 2004 — 2007. São Paulo alleges that Banco CIT paid a lower rate of ICMS tax on imported equipment than was required (8.8% instead of 18%) . Banco CIT challenged the notice of infraction and was partially successful based upon the type of equipment imported. Banco CIT has commenced a judicial proceeding challenging the unfavorable portion of the administrative ruling. The amount claimed by São Paulo for tax assessments and penalties is approximately 4 million Reais (approximately $1.0 million). The current potential aggregate exposure in taxes, fines and interest for the ISS and the ICMS tax matters is approximately 79.0 million Reais (approximately $20.0 million). HUD OIG INVESTIGATION In 2009, OneWest Bank acquired the reverse mortgage loan portfolio and related servicing rights of Financial Freedom Senior Funding Corporation including HECM loans from the FDIC as Receiver for Indymac Federal Bank. HECM loans are insured by the Federal Housing Administration (“FHA”), administered by the Department of Housing and Urban Development (“HUD”). Subject to certain requirements, the loans acquired from the FDIC are covered by indemnification agreements. In addition, Financial Freedom is the servicer of HECM loans owned by the Federal National Mortgage Association (FNMA) and other third party investors . In the third quarter of 2015, HUD’s Office of Inspector General (“OIG”), served subpoenas on the Company regarding HECM loans. The subpoenas request documents and other information related to the servicing of HECM loans and the curtailment of interest payments on HECM loans. The Company is responding to the subpoenas and does not have sufficient information to make an assessment of the outcome or the impact of the HUD OIG investigation. Contingencies Arising from Servicer Obligations The Company is exposed to contingent obligations arising from servicing obligations, indemnification obligations to third party purchasers of its third party servicing, and regulatory matters involving mortgage servicing practices. As a servicer of residential mortgage loans, the Company is exposed to contingent obligations for breaches of servicer obligations as set forth in industry regulations established by HUD and FHA and in servicing agreements with the applicable counterparties, such as Fannie Mae and other investors, which could include fees imposed for failure to comply with foreclosure timeframe requirements. The Company has established reserves for contingent servicing-related liabilities associated with continuing operations. While the Company believes that such accrued liabilities are adequate, it is reasonably possible that such losses could ultimately exceed the Company’s liability for probable and reasonably estimable losses by up to approximately $26.4 million. Indemnification Obligations In connection with the OneWest acquisition, CIT assumed the indemnification obligation to indemnify Ocwen Loan Servicing, LLC (“Ocwen”) against certain claims that may arise from servicing errors which are deemed attributable to the period prior to June 2013, such as repurchase demands, non-recoverable servicing advances and compensatory fees imposed by the GSEs for servicer delays in completing the foreclosure process within the prescribed timeframe established by the servicer guides or agreements. The amounts to be paid by the Company to Ocwen under the indemnifications, exclusive of losses or repurchase obligations and certain Agency fees, are limited to an aggregate amount of $150.0 million to expire three years from closing (February 2017). Ocwen is responsible for liabilities arising from servicer obligations following the service transfer date since substantially all risks and rewards of ownership have been transferred, except for certain Agency fees or loan repurchase amounts on foreclosures completed on or before 90 days following the applicable transfer date. As of September 30, 2015, the cumulative payments for claims arising from servicing errors which are deemed attributable to the period prior to transfer date totaled approximately $36.6 million, which reduced the $150.0 million maximum potential indemnity owed by CIT to Ocwen. In addition, CIT assumed the indemnification obligations with Specialized Loan Servicing, LLC (“SLS”) to indemnify SLS against certain claims that may arise which are deemed attributable to the period prior to servicing transfer date, such as repurchase demands and non-recoverable servicing advances. SLS is responsible for substantially all liabilities arising from servicer obligations following the service transfer date.

Certain Relationships And Relat

Certain Relationships And Related Transactions	9 Months Ended
	Sep. 30, 2015
Certain Relationships And Related Transactions [Abstract]
Certain Relationships And Related Transactions	NOTE 21 — CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS St even Mnuchin, a Director and Vice Chairman of CIT and CIT Bank and previously the Chairman and CEO of IMB and Chairman of OneWest Bank, is also Chairman, CEO, and principal owner of Dune Capital Management LP, a privately owned investment firm (“Dune Capital”). Mr. Mnuchin is also a member of the Board of Directors of Sears Holdings Corp. (“Sears Holdings”). Sears Holdings is an obligor to CIT on approximately $131 million of loans and committed lines, factored receivables, and leases, of which $29 million was outstanding as of September 30, 2015. Through Dune Capital, Mr. Mnuchin owns or controls interests in several entities that have made various investments in the media and entertainment industry, including Ratpac-Dune Entertainment LLC, a film investment business (“Ratpac-Dune”) and Relativity Media LLC, a media production and distribution company (“Relativity”). CIT Bank was a lender and participant in a $300 million credit facility provided to Ratpac-Dune, which is led by Bank of America and was entered into prior to the OneWest Transaction. As of September 30, 2015, CIT Bank had a commitment in the facility of $17.8 million, of which $5.9 million was outstanding. Mr. Mnuchin owns 17% of Ratpac-Dune. CIT Bank sold its interest in the loan on October 14, 2015. On October 2, 2014, Mr. Mnuchin purchased certain classes of equity interests in and was appointed as co-chairman of the Board of Relativity Holdings LLC (“Relativity"). As a result, several revolving credit facilities and term loan facilities that previously existed among OneWest Bank and certain other banks, as lenders, and certain subsidiaries and affiliates of Relativity (the “Borrowers”), including one revolving credit facility that was increased in size after October 2, 2014, and certain deposits of the Borrowers with OneWest Bank, were considered to be related party transactions. Prior to October 2, 2014, James Wiatt, a director of both IMB and OneWest Bank, was also a director of Relativity. After Mr. Mnuchin joined the Board of Relativity on October 2, 2014, all subsequent actions between OneWest Bank and the Borrowers were approved by the full Board of OneWest Bank, excluding Mr. Mnuchin and Mr. Wiatt. As of September 30, 2015, the loan commitments by CIT Bank, N.A. (formerly OneWest Bank) to the Borrowers was $43.6 million, of which $42.2 million was outstanding, and the deposit totaled $34 million. Effective as of May 29, 2015, Mr. Mnuchin ceased to be co-chairman of the Board of Relativity. Relativity filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code on July 30, 2015 seeking protection for itself and certain of its subsidiaries. IMB entered into an Office License Agreement, dated March 19, 2009, as amended January 27, 2014, between Dune Capital Management and IMB, for the use and occupancy of a portion of the office space leased by Dune Capital in New York City. IMB was paying approximately $33 thousand per month in 2015. The Office License Agreement was terminated effective August 31, 2015 . During the third quarter of 2015, Strategic Credit Partners Holdings LLC (the “JV”), a joint venture between CIT Group Inc. (“CIT”) and TPG Special Situations Partners (“TSSP”), was formed. The JV will extend credit in senior-secured, middle-market corporate term loans, and, in certain circumstances, be a participant to such loans. Participation could be in corporate loans originated by CIT. The JV may acquire other types of loans, such as subordinate corporate loans, second lien loans, revolving loans, asset backed loans and real estate loans. During the quarter, loans of $49 million were sold to the joint venture. CIT also maintains an equity interest of 10% in the JV. During 2014, the Company formed two joint ventures (collectively “TC-CIT Aviation”) between CIT Aerospace and Century Tokyo Leasing Corporation (“CTL”). CIT records its net investment under the equity method of accounting. Under the terms of the agreements, TC-CIT Aviation will acquire commercial aircraft that will be leased to airlines around the globe. Initially, CIT Aerospace sold 14 commercial aircraft to TC-CIT Aviation in transactions with an aggregate value of approximately $0.6 billion and is responsible for arranging future aircraft acquisitions, negotiating leases, servicing the portfolio and administering the entities. In the third quarter of 2015, CIT sold an additional 4 commercial aircraft with an aggregate value of $0.2 billion and in the prior quarter one additional commercial aircraft was sold for approximately $45 million. CIT also made and maintains a minority equity investment in TC-CIT Aviation. CTL made and maintains a majority equity interest in the joint venture and will be a lender to the companies. CIT invests in various trusts, partnerships, and limited liability corporations established in conjunction with structured financing transactions of equipment, power and infrastructure projects. CIT’s interests in these entities were entered into in the ordinary course of business. Other assets included approximately $225 million and $73 million at September 30, 2015 and December 31, 2014, respectively, of investments in non-consolidated entities relating to such transactions that are accounted for under the equity or cost methods. The Company is party to a non-revolving line of credit loan financing agreement with Tatira 2, LLC (“Tatira”), a limited liability company for which the Company has a 50% equity interest as a limited partner. The loan commitment is $31.1 million, all of which was outstanding as of September 30, 2015. In October 2015, the outstanding balance was repaid. The combination of investments in and loans to non-consolidated entities represents the Company’s maximum exposure to loss, as the Company does not provide guarantees or other forms of indemnification to non-consolidated entities.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2015
Business Segment Information [Abstract]
Business Segment Information	NOTE 22 — BUSINESS SEGMENT INFORMATION Management’s Policy in Identifying Reportable Segments CIT’s reportable segments are comprised of divisions that are aggregated into segments primarily based upon industry categories, geography, target markets and customers served, and, to a lesser extent, the core competencies relating to product origination, distribution methods, operations and servicing and the nature of their regulatory environment. This segment reporting is consistent with the presentation of financial information to the Board of Directors and executive management. Types of Products and Services Effective upon completion of the OneWest Transaction, CIT manages its business and reports financial results in four operating segments: (1) Transportation &International Finance ( TIF ) ; (2) North America Banking ( NAB ) ; (3) Legacy Consumer Mortgages ( LCM ) ; and (4) Non-Strategic Portfolios ( NSP ) . Portions of the o perations of the acquired OneWest Bank are included in the NAB segment (previously North American Commercial Fi nance) and in LCM a new segment . The activities in NAB related to OneWest Bank are included in Commercial Real Estate, Commercial Banking and Consumer Banking. The Company also created a new segment, LCM, which includes consumer loans that were acquired by OneWest Bank from the FDIC and that CIT may be reimbursed for a portion of future losses under the terms of a loss sharing agreement with the FDIC. The addition of OneWest Bank in segment reporting did not affect CIT’s historical consolidated results of operations. TIF offers secured lending and leasing products to midsize and larger companies across the aerospace, rail and maritime industries . The segment’s international finance division , which includes corporate lending and equipment financing businesses in China , was moved to AHFS . Revenues generated by TIF include rents collected on leased assets, interest on loans, fees, and gains from assets sold. NAB provides a range of lending, leasing and deposit products, as well as ancillary products and services, including factoring, cash management and advisory services, to small and medium-sized companies and consumers in the U.S. and in Canada. The segment’s Canada business was recently transferred to AHFS. Lending products include revolving lines of credit and term loans and, depending on the nature and quality of the collateral, may be referred to as asset-based loans or cash flow loans. These are primarily composed of senior secured loans collateralized by accounts receivable, inventory, machinery & equipment, real estate, and intangibles, to finance the various needs of our customers, such as working capital, plant expansion, acquisitions and recapitalizations. Loans are originated through direct relationships with borrowers or through relationships with private equity sponsors. The commercial banking group also originates qualified Small Business Administration (“SBA”) 504 and 7(a) loans. Revenues generated by NAB include interest earned on loans, rents collected on leased assets, fees and other revenue from banking and leasing activities and capital markets transactions, and commissions earned on factoring and related activities. NAB, through its approximately 70 branches and on-line channel, also offers deposits and lending to borrowers who are buying or refinancing homes and custom loan products tailored to the clients’ financial needs. Products include checking, savings, certificates of deposit, residential mortgage loans, and investment advisory services. Consumer Banking also includes a private banking group that offers banking services to high net worth individuals. LCM holds the reverse mortgage and SFR mortgage portfolios acquired in the OneWest Transaction. Certain of these assets and related receivables include loss sharing arrangements with the FDIC, which will continue to reimburse CIT Bank, N.A. for certain losses realized due to foreclosure, short-sale, charge-offs or a restructuring of a single family residential mortgage loan pursuant to an agreed upon loan modification framework. NSP holds portfolios that we no longer considered strategic, which as of September 30, 2015 included the remaining equipment financing portfolio in Brazil that is under a contract of sale. The Company sold the Mexico business, which included approximately $0.2 billion of assets held for sale, in August 2015. In conjunction with the closing of the transaction, we recognized a loss on sale, essentially all of which, $19 million pre-tax, was related to the recognition of CTA loss related to the Mexico portfolio and the tax effect included in the provision for income taxes. Corporate and Other Certain items are not allocated to operating segments and are included in Corporate & Other. Some of the more significant items include interest income on investment securities, a portion of interest expense, primarily related to corporate liquidity costs (Interest Expense), mark-to-market adjustments on non-qualifying derivatives (Other Income), restructuring charges for severance and facilities exit activities (Operating Expenses), certain intangible asset amortization expenses (Other Expenses) and loss on debt extinguishments. Segment Profit and Assets For the quarter and nine months ended September 30, 2015, amounts also include the acquired business activities of OneWest Bank for the two months of each period. Corporate & Total TIF NAB LCM NSP Other CIT Quarter ended September 30, 2015 Interest income Interest expense Provision for credit losses - - Rental income on operating leases - - Other income Depreciation on operating lease equipment - - - Maintenance and other operating lease expenses - - - - Operating expenses Loss on debt extinguishments - - - - Income (loss) from continuing operations before (provision) benefit for income taxes $ 184.9 $ 35.8 $ 29.5 $ (21.0) $ (92.4) $ 136.8 Quarter ended September 30, 2014 Interest income $ 68.8 $ 215.8 $ - $ 20.4 $ 3.3 $ 308.3 Interest expense - Provision for credit losses - Rental income on operating leases - - Other income - Depreciation on operating lease equipment - - Maintenance and other operating lease expenses - - - - Operating expenses - Income (loss) from continuing operations before (provision) benefit for income taxes $ 161.5 $ 61.7 $ - $ (56.1) $ (50.4) $ 116.7 Nine Months Ended September 30, 2015 Interest income $ 212.1 $ 670.7 $ 62.8 $ 29.7 $ 27.2 $ 1,002.5 Interest expense Provision for credit losses - - Rental income on operating leases - - Other income Depreciation on operating lease equipment - - - Maintenance and other operating lease costs - - - - Operating expenses Loss on debt extinguishments - - - - Income (loss) from continuing operations before (provisions) benefit for income taxes $ 498.8 $ 119.4 $ 29.5 $ (44.2) $ (166.0) $ 437.5 Select Period End Balances Loans - - Credit balances of factoring clients - - - - Assets held for sale - Operating lease equipment, net - - - Nine Months Ended September 30, 2014 Interest income $ 217.7 $ 618.0 $ - $ 74.4 $ 10.2 $ 920.3 Interest expense - Provision for credit losses - Rental income on operating leases - - Other income - Depreciation on operating lease equipment - - Maintenance and other operating lease costs - - - - Operating expenses/ loss on debt extinguishment - Loss on debt extinguishments - - - - Income (loss) from continuing operations before (provisions) benefit for income taxes $ 427.3 $ 196.9 $ - $ (73.7) $ (92.1) $ 458.4 Select Period End Balances Loans $ 3,687.7 $ 16,098.0 $ - $ 0.1 $ - $ 19,785.8 Credit balances of factoring clients - - - - Assets held for sale - - Operating lease equipment, net - - -

Goodwill And Intangible Assets

Goodwill And Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill And Intangible Assets [Abstract]
Goodwill And Intangible Assets	NOTE 23 – GOODWILL AND INTANG I BLE ASSETS The following tables summarize goodwill and intangible assets, net balances by segment: Goodwill (dollars in millions) TIF NAB LCM Total December 31, 2014 $ 252.0 $ 319.3 $ - $ 571.3 Additions - Other activity (1) - September 30, 2015 $ 246.8 $ 629.1 $ 259.2 $ 1,135.1 (1) Includes adjustmen ts related to purchase accountin g , transfer to held for sale and foreig n exchange translation. The December 31, 2014 goodwill included amounts from CIT’s emergence from bankruptcy in 2009, and its 2014 acquisitions of Capital Direct Group and its subsidiaries (“Direct Capital”), and Nacco, an independent full service railcar lessor. On January 31, 2014, CIT acquired 100% of the outstanding shares of Paris-based Nacco, an independent full service railcar lessor in Europe. The purchase price was approximately $250 million and the acquired assets and liabilities were recorded at their estimated fair values as of the acquisition date, resulting in $77 million of goodwill. On August 1, 2014, CIT Bank acquired 100% of Direct Capital, a U.S. based lender providing equipment financing to small and mid-sized businesses operating across a range of industries. The purchase price was approximately $230 million and the acquired assets and liabilities were recorded at their estimated fair values as of the acquisition date resulting in approximately $170 million of goodwill. In addition, intangible assets of approximately $12 million were recorded relating mainly to the valuation of existing customer relationships and trade names. The 2015 addition relates to the OneWest Transaction. On August 3, 2015 CIT acquired 100% of IMB HoldCo LLC, the parent company of OneWest Bank. The purchase price was approximately $3.4 billion and the acquired assets and liabilities were recorded at their estimated fair value as of the acquisition date resulting in $598 million of goodwill. $259.2 million of the goodwill balance is associated with the LCM business segment. As the LCM segment is currently running off, we expect that the goodwill balance will become impaired in the future as the cash flows generated by the segment decrease over time. The remaining goodwill was allocated to the Commercial Banking, Consumer Banking and Commercial Real Estate reporting units in NAB. Additionally, intangible assets of approximately $186 million were recorded relating mainly to the valuation of core deposit intangibles, trade name and customer relationships, as detailed in the table below. Once goodwill has been assigned, it no longer retains its association with a particular event or acquisition, and all of the activities within a reporting unit, whether acquired or internally generated, are available to support the value of goodwill. Intangible Assets The following table presents the gross carrying value and accumulated amortization for intangible assets, excluding fully amortized intangible assets. Intangible Assets (dollars in millions) September 30, 2015 September 30, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Core deposit intangibles $ 126.3 $ (3.0) $ 123.3 $ - $ - $ - Trade names Operating lease rental intangibles Customer relationships Other - Total intangible assets $ 236.2 $ (34.9) $ 201.3 $ 57.8 $ (32.1) $ 25.7 The addition to intangible assets in 2015 reflects the OneWest Bank Transaction. The largest component related to the valuation of core deposits. Core deposit intangibles (“CDIs”) represent future benefits arising from non-contractual customer relationships (e.g., account relationships with the depositors) acquired from the purchase of demand deposit accounts, including interest and non-interest bearing checking accounts, money market and savings accounts. CDIs have a finite life and are amortized on a straight line basis over the estimated useful life of seven years. Amortization expense for the intangible assets is recorded in Operating expenses. In preparing the interim financial statements for the quarter ended September 30, 2015, the Company discovered and corrected an immaterial error impacting the accumulated amortization on the intangible assets which resulted in a decrease of $35 million in the intangible asset accumulated amortization as of December 31, 2014. In addition, we have excluded fully amortized intangible assets from all amounts. The following table presents the changes in intangible assets: Intangible Assets Rollforward (dollars in millions) Customer Relationships Core Deposit Intangibles Trade Names Operating Lease Rental Intangibles Other Total December 31, 2014 $ 6.8 $ - $ 6.9 $ 11.5 $ 0.5 $ 25.7 Additions - Amortization (1) Impairment - - - - - - Other (2) - - - September 30, 2015 $ 25.6 $ 123.3 $ 41.8 $ 7.6 $ 3.0 $ 201.3 (1) Includes amortization recorded in operating expenses and operating lease rental income. (2) Includes foreign exchange translation and other miscellaneous adjustments. Intangible assets prior to the OneWest Transaction included the operating lease rental intangible assets comprised of amounts related to net favorable (above current market rates) operating leases. The net intangible asset will be amortized as an offset to rental income over the remaining life of the leases, generally 5 years or less. The intangible assets also include approximately $10 million, net, related mainly to the valuation of existing customer relationships and trade names recorded in conjunction with the acquisition of Direct Capital in 2014. Accumulated amortization totaled $34.9 million at September 30, 2015, primarily related to intangible assets recorded prior to the OneWest Transaction. Projected amortization for the twelve months ended September 30, 2016 through September 30, 2020 is approximately $31.6 million, $29.1 million, $27.7 million, $26.9 million, and $26.4 million, respectively.

Parent Company Financial Statem

Parent Company Financial Statements	9 Months Ended
	Sep. 30, 2015
Parent Company Financial Statements [Abstract]
Parent Company Financial Statements	NOTE 24 – PARENT COMPANY FINANCIAL STATEMENTS The following tables present the Parent Company only financial statements: Condensed Parent Company Only Balance Sheet (dollars in millions) September 30, December 31, 2015 2014 Assets: Cash and deposits $ 1,034.7 $ 1,432.6 Cash held at bank subsidiary Securities purchased under agreements to resell Investment securities Receivables from nonbank subsidiaries Receivables from bank subsidiaries Investment in nonbank subsidiaries Investment in bank subsidiaries Goodwill Other assets Total Assets $ 23,913.5 $ 25,540.1 Liabilities and Equity: Borrowings $ 10,725.0 $ 11,932.4 Liabilities to nonbank subsidiaries Other liabilities Total Liabilities $ 13,114.8 $ 16,471.2 Total Stockholders’ Equity Total Liabilities and Equity $ 23,913.5 $ 25,540.1 Condensed Parent Company Only Statement of Operations and Comprehensive Income (dollars in millions ) Nine Months Ended September 30, 2015 2014 Income Interest income from nonbank subsidiaries $ 327.7 $ 445.5 Interest and dividends on interest bearing deposits and investments Dividends from bank subsidiaries Other income from subsidiaries Other income Total income Expenses Interest expense Interest expense on liabilities to subsidiaries Other expenses Total expenses Income (loss) before income taxes and equity in undistributed net income of subsidiaries Benefit for income taxes Income before equity in undistributed net income of subsidiaries Equity in undistributed net income of bank subsidiaries Equity in undistributed net income of nonbank subsidiaries Net income Other Comprehensive income (loss), net of tax Comprehensive income (loss) $ 871.7 $ 870.5 Condensed Parent Company Only Statements of Cash Flows (dollars in millions Nine Months Ended September 30, 2015 2014 Cash Flows From Operating Activities: Net income $ 912.1 $ 879.0 Equity in undistributed earnings of subsidiaries Other operating activities, net Net cash flows used in operations Cash Flows From Investing Activities: Decrease (increase) in investments and advances to subsidiaries Acquisitions Decrease in Investment securities and securities purchased under agreements to resell Net cash flows provided by investing activities Cash Flows From Financing Activities: Proceeds from the issuance of term debt Repayments of term debt Repurchase of common stock Dividends paid Net change in liabilities to subsidiaries Net cash flows used in financing activities Net decrease in unrestricted cash and cash equivalents Unrestricted cash and cash equivalents, beginning of period Unrestricted cash and cash equivalents, end of period $ 1,060.1 $ 846.8

Business And Summary Of Signi32

Business And Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Business And Summary Of Significant Accounting Policies [Abstract]
Principles Of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include financial information related to CIT Group Inc. and its majority-owned subsidiaries and those variable interest entities (“VIEs”) where the Company is the primary beneficiary. In preparing the consolidated financial statements, all significant inter-company accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements. These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial information and accordingly, do not include all information and note disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. The financial statements in this Form 10-Q in the opinion of management include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of CIT’s financial position, results of operations and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Form 10-K on file. The accounting and financial reporting policies of CIT Group Inc. conform to GAAP and the preparation of the consolidated financial statements requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates and assumptions. Some of the more significant estimates include: allowance for loan losses, loan impairment, fair value determination, lease residual values, liabilities for uncertain tax positions, realizability of deferred tax assets, purchase accounting adjustments, indemnification assets, goodwill, intangible assets, and contingent liabilities. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities. The results for the quarter and nine months ended September 30, 2015 each contain activity of OneWest Bank for approximately two months, therefore they are not necessarily indicative of the results expected for any other interim period or for the full year as a whole.
Discontinued Operations	Discontinued Operations The F inancial Freedom business, a division of CIT Bank (formerly a division of OneWest Bank), that services reverse mortgage loans , was acquired in conjunction with the OneWest Transaction. Pursuant to ASC 205-20, as amended by ASU 2014-08, the Financial Freedom business is reflected as discontinued operations as of September 30, 2015. The business includes the entire third party servicing of reverse mortgage operations, which include personnel, systems and the servicing assets. The assets of discontinued operations primarily include Home Equity Conversion Mortgage (“HECM”) loans and servicing advances, while liabilities of discontinued operations include reverse mortgage servicing liabilit y , secured borrowings and contingent liabilities. The reverse mortgage servicing relates primarily to loans serviced for Fannie Mae. Separate from the Financial Freedom business, there is a portfolio of reverse mortgages in the Legacy Consumer Mortgage segment, which is continuing operations. In addition, on April 25, 2014, the Company completed the sale of its student lending business, which was finalized in 2014. As a result, that business was reported as a discontinued operation. Discontinued Operations are discussed in Note 2 — – Acquisition and Disposition Activities.
Financing And Leasing Assets	Financing and Leasing Assets CIT extends credit to commercial customers through a variety of financing arrangements including term loans, revolving credit facilities, capital (direct finance) leases and operating leases. With the addition of OneWest Bank, CIT now also extends credit through consumer loans, including residential mortgages and home equity loans, and has a portfolio of reverse mortgages. The amounts outstanding on term loans, consumer loans, revolving credit facilities and capital leases are referred to as finance receivables. In certain instances, we use the term “Loans” synonymously, as presented on the balance sheet. These finance receivables, when combined with Assets held for sale (“AHFS”) and Operating lease equipment, net are referred to as financing and leasing assets. It is CIT’s expectation that the majority of the loans and leases originated will be held for the foreseeable future or until maturity. In certain situations, for example to manage concentrations and/or credit risk or where returns no longer meet specified targets, some or all of certain exposures are sold. Loans for which the Company has the intent and ability to hold for the foreseeable future or until maturity are classified as held for investment (“HFI”). If the Company no longer has the intent or ability to hold loans for the foreseeable future, then the loans are transferred to AHFS. Loans originated with the intent to resell are classified as AHFS. Loans originated and classified as HFI are recorded at amortized cost. Loan origination fees and certain direct origination costs are deferred and recognized as adjustments to interest income over the lives of the related loans. Unearned income on leases and discounts and premiums on loans purchased are amortized to interest income using the effective interest method. For loans classified as AHFS, the amortization of discounts and premiums on loans purchased and unearned income ceases. Direct financing leases originated and classified as HFI are recorded at the aggregate future minimum lease payments plus estimated residual values less unearned finance income. Management performs periodic reviews of estimated residual values, with other than temporary impairment (“OTTI”) recognized in current period earnings. If it is determined that a loan should be transferred from HFI to AHFS, then the balance is transferred at the lower of cost or fair value. At the time of transfer, a write-down of the loan is recorded as a charge-off when the carrying amount exceeds fair value and the difference relates to credit quality, otherwise the write-down is recorded as a reduction to Other Income, and any allowance for loan loss is reversed. Once classified as AHFS, the amount by which the carrying value exceeds fair value is recorded as a valuation allowance and is reflected as a reduction to Other Income. If it is determined that a loan should be transferred from AHFS to HFI, the loan is transferred at the lower of cost or fair value on the transfer date, which coincides with the date of change in management’s intent. The difference between the carrying value of the loan and the fair value, if lower, is reflected as a loan discount at the transfer date, which reduces its carrying value. Subsequent to the transfer, the discount is accreted into earnings as an increase to interest income over the life of the loan using the effective interest method. Loans acquired in the OneWest Transaction were initially recorded at their fair value on the acquisition date. For loans that were not considered credit impaired at the date of acquisition and for which cash flows were evaluated based on contractual terms, a premium or discount was recorded, representing the difference between the unpaid principal balance and the fair value. The discount or premium is accreted or amortized to earnings using the effective interest method as a yield adjustment over the remaining terms of the loans and is recorded in Interest Income. If the loan is prepaid, the remaining discount or premium will be recognized in Interest Income. If the loan is sold, the remaining discount will be considered in the resulting gain or loss on sale. If the loan is subsequently classified as non-accrual, or transferred to AHFS, accretion / amortization of the discount (premium) will cease. For loans that were purchased with evidence of credit quality deterioration since origination, the discount recorded includes accretable and non-accretable components Purchased Credit-Impaired Loans Loans accounted for as purchased credit-impaired loans (“PCI loans”) are accounted for in accordance with ASC 310-30 Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”) . PCI loans were determined as of the date of purchase to have evidence of credit quality deterioration, which make it probable that the Company will be unable to collect all contractually required payments. Evidence of credit quality deterioration as of the purchase date may include past due status, recent borrower credit scores, credit rating (probability of obligor default) and recent loan-to-value ratios. Commercial PCI loans are accounted for as individual loans. Conversely, consumer PCI loans with similar common risk characteristics are pooled together for accounting purposes (i.e., into one unit of account). Common risk characteristics consist of similar credit risk (e.g., delinquency status, loan-to-value, or credit risk rating) and at least one other predominant risk characteristic (e.g., loan type, collateral type, interest rate index or type, date of origination or term). For pooled loans, each pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows for the pool. At acquisition, the PCI loans were initially recorded at estimated fair value, which is determined by discounting each commercial loan’s or consumer pool’s principal and interest cash flows expected to be collected using a discount rate for similar instruments with adjustments that management believes a market participant would consider. The Company estimated the cash flows expected to be collected at acquisition using internal credit risk and prepayment risk models that incorporate management’s best estimate of current key assumptions, such as default rates, loss severity and prepayment speeds of the loan. For both commercial PCI loans (evaluated individually) and consumer PCI loans (evaluated on a pool basis), an accretable yield is measured as the excess of the cash flows expected to be collected, estimated at the acquisition date, over the recorded investment (estimated fair value at acquisition) and is recognized in interest income over the remaining life of the loan, or pool of loans, on an effective yield basis. The difference between the cash flows contractually required to be paid, measured as of the acquisition date, over the expected cash flows is referred to as the non-accretable difference. Subsequent to acquisition, we evaluate our estimates of the cash flows expected to be collected on a quarterly basis for both commercial PCI loans (evaluated individually) and consumer PCI loans (evaluated on a pool basis). During each subsequent reporting period, the cash flows expected to be collected shall be reviewed but will be revised only if it is deemed probable that a significant change has occurred. Probable and significant decreases in expected cash flows as a result of further credit deterioration result in a charge to the provision for credit losses and a corresponding increase to the allowance for credit losses . Probable and significant increases in cash flows expected to be collected due to improved credit quality result in recovery of any previously recorded allowance for loan losses, to the extent applicable, and an increase in the accretable yield applied prospectively for any remaining increase. Changes in expected cash flows caused by changes in market interest rates are recognized as adjustments to the accretable yield on a prospective basis. Resolutions of loans may include sales to third parties, receipt of payments in settlement with the borrower, or foreclosure of the collateral. Upon resolution, the Company’s policy is to remove an individual consumer PCI loan from the pool at its carrying amount . Any difference between the loans carrying amount and the fair value of the collateral or other assets received does not affect the percentage yield calculation used to recognize accretable yield on the pool. This removal method assumes that the amount received from these resolutions approximates the pool performance expectations of cash flows. The accretable yield percentage is unaffected by the resolution. Modifications or refinancing of loans accounted for within a pool do not result in the removal of those loans from the pool; instead, the revised terms are reflected in the expected cash flows within the pool of loans. Reverse Mortgages Reverse mortgage loans, which were recorded at fair value on the acquisition date, are contracts in which a homeowner borrows against the equity in their home and receives cash in one lump sum payment, a line of credit, fixed monthly payments for either a specific term or for as long as the homeowner lives in the home or a combination of these options. Since reverse mortgages are nonrecourse obligations, the loan repayments are generally limited to the sale proceeds of the borrower’s residence and the mortgage balance consists of cash advanced, interest compounded over the life of the loan, and capitalized mortgage insurance premiums and other servicing advances capitalized into loans.
Revenue Recognition	Revenue Recognition Interest income on loans (both HFI and AHFS) is recognized using the effective interest method or on a basis approximating a level rate of return over the life of the asset. Interest income includes components of accretion of the fair value discount on loans and lease receivables recorded in connection with Purchase Accounting Adjustments (“PAA”) and to a lesser extent Fresh Start Accounting (“FSA”) adjustments that were applied as of December 31, 2009, (the Convenience Date), all of which are accreted using the effective interest method as a yield adjustment over the remaining contractual term of the loan and recorded in interest income. If the loan is subsequently classified as AHFS, accretion (amortization) of the discount (premium) will cease. See Purchase Accounting Adjustments in Note 2 — Acquisition and Disposition Activities further in this section. Reverse mortgages are accounted for in accordance with the instructions provided by the staff of the Securities and Exchange Commission (“SEC”) entitled “Accounting for Pools of Uninsured Residential Reverse Mortgage Contracts.” The Company has determined the unit of account to be the loan level. To determine the effective yield of the loan, we project the loan’s cash inflows and outflows including actuarial projections of the life expectancy of the individual contract holder and changes in the collateral value of the residence. At each reporting date, a new economic forecast is made of the cash inflows and outflows for the population of uninsured reverse mortgages. The effective yield of the individual loans is recomputed and income is adjusted to retrospectively reflect the revised rate of return. Because of this accounting, the recorded value of uninsured reverse mortgage loans and interest income can result in significant volatility associated with the estimates. As a result, income recognition can vary significantly from period to period. Rental revenue on operating leases is recognized on a straight line basis over the lease term and is included in Non-interest Income. Intangible assets were recorded during FSA and in acquisitions completed by the Company to adjust the carrying value of above or below market operating lease contracts to their fair value. The FSA related adjustments (net) are amortized into rental income on a straight line basis over the remaining term of the respective lease. The recognition of interest income (including accretion) on Loans is suspended and an account is placed on non-accrual status when, in the opinion of management, full collection of all principal and interest due is doubtful. To the extent the estimated cash flows, including fair value of collateral, does not satisfy both the principal and accrued interest outstanding, accrued but uncollected interest at the date an account is placed on non-accrual status is reversed and charged against interest income. Subsequent interest received is applied to the outstanding principal balance until such time as the account is collected, charged-off or returned to accrual status. Loans that are on cash basis non-accrual do not accrue interest income; however, payments designated by the borrower as interest payments may be recorded as interest income. To qualify for this treatment, the remaining recorded investment in the loan must be deemed fully collectable. The recognition of interest income (including accretion) on consumer mortgages (except reverse mortgages) and small ticket commercial loans and lease receivables is suspended and all previously accrued but uncollected revenue is reversed, when payment of principal and/or interest is contractually delinquent for 90 days or more. Accounts, including accounts that have been modified, are returned to accrual status when, in the opinion of management, collection of remaining principal and interest is reasonably assured, and there is a sustained period of repayment performance for a minimum of six months. The Company periodically modifies the terms of finance receivables in response to borrowers’ financial difficulties. These modifications may include interest rate changes, principal forgiveness or payment deferments. Finance receivables that are modified, where a concession has been made to the borrower, are accounted for as Troubled Debt Restructurings (“TDRs”). TDRs are generally placed on non-accrual upon their restructuring and remain on non-accrual until, in the opinion of management, collection of remaining principal and interest is reasonably assured, and upon collection of six consecutive scheduled payments. PCI loans in pools that the Company may modify as TDRs are not within the scope of the accounting guidance for TDRs.
Allowance For Loan Losses On Finance Receivables	Allowance for Loan Losses on Finance Receivables The allowance for loan losses is intended to provide for credit losses inherent in the Held for Investment loan and lease receivables portfolio and is periodically reviewed for adequacy. The allowance for loan losses is determined based on three key components: (1) specific allowances for loans that are impaired, based upon the value of underlying collateral or projected cash flows, or observable market price, (2) non-specific allowances for estimated losses inherent in the portfolio based upon the expected loss over the loss emergence period, and (3) allowances for estimated losses inherent in the portfolio based upon economic risks, industry and geographic concentrations, and other factors. Changes to the Allowance for Loan Losses are recorded in the Provision for Credit Losses. Determining an appropriate allowance for loan losses requires significant judgment that may change based on management’s ongoing process in analyzing the credit quality of the Company’s HFI loan portfolio. Finance receivables are divided into the following portfolio segments, which correspond to the Company’s business segments: Transportation & International Finance (“TIF”), North America Banking (“NAB”); formerly known as North American Commercial Finance, Legacy Consumer Mortgages (“LCM”) and Non-Strategic Portfolios (“NSP”). Within each portfolio segment, credit risk is assessed and monitored in the following classes of loans; within TIF, Aerospace, Rail, Maritime Finance and International Finance, within NAB, Commercial Banking, Equipment Finance, Commercial Real Estate, and Commercial Services, (collectively referred to as the Commercial Loans); and within LCM, the Single Family Residential (“SFR”) Mortgages and Reverse Mortgages and in NAB, Consumer Banking, (collectively referred to as the Consumer Loans). The allowance is estimated based upon the finance receivables in the respective class. For each portfolio, impairment is generally measured individually for larger non-homogeneous loans (finance receivables of $500 thousand or greater) and collectively for groups of smaller loans with similar characteristics or for designated pools of PCI loans based on decreases in cash flows expected to be collected subsequent to acquisition. Loans acquired in the OneWest Transaction were initially recorded at estimated fair value at the time of acquisition. Expected credit losses were included in the determination of estimated fair value, no allowance was established on the acquisition date.
Allowance Methodology	Allowance Methodology Commercial Loans With respect to commercial portfolios, the Company monitors credit quality indicators, including expected and historical losses and levels of and trends in past due loans, non-performing assets and impaired loans, collateral values and economic conditions. Commercial loans are graded based on various risk factors. The non-specific allowance is determined based on the estimated probability of default, which reflects the borrower’s financial strength, and the severity of loss in the event of default, considering the quality of the underlying collateral. The probability of default and severity are derived through historical observations of default and subsequent losses within each risk grading. A specific allowance is also established for impaired commercial loans and commercial loans modified in a TDR. Refer to the Impairment of Finance Receivables section of this Note for details. Consumer Loans For residential mortgages, the Company develops a loss reserve factor by deriving the projected lifetime losses then adjusting for losses expected to be specifically identified within the loss emergence period. The key drivers of the projected lifetime losses include the type of loan, type of product, delinquency status of the underlying loans, loan-to-value and/or debt-to-income ratios, geographic location of the collateral, and any guarantees. For reverse mortgage loans, an allowance is established if the Company is likely to experience losses on the disposition of the property that are not reflected in the recorded investment. The level of any required allowance for loan losses on reverse mortgage loans is based on the Company’s estimate of the future fair value of the property based on current conditions and trends. An allowance is recorded for any shortfall between the estimated future fair value of the property less estimated costs to sell and the estimated future net investment in the loan. If consumer loan losses are reimbursable by the FDIC under the loss sharing agreement, the recorded provision is partially offset by any benefit expected to be derived from the related indemnification asset. See Indemnification Assets later in this section. Other Allowance Factors With respect to assets transferred from HFI to AHFS, a charge - off is recognized to the extent carrying value exceeds the fair value and the difference relates to credit quality. An approach similar to the allowance for loan losses is utilized to calculate a reserve for losses related to unfunded loan commitments along with deferred purchase commitments associated with the Company’s factoring business. A reserve for unfunded loan commitments is maintained to absorb estimated probable losses related to these facilities. The adequacy of the reserve is determined based on periodic evaluations of the unfunded credit facilities, including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers, and the terms and expiration dates of the unfunded credit facilities. The reserve for unfunded loan commitments is recorded as a liability on the Consolidated Balance Sheet. Net adjustments to the reserve for unfunded loan commitments are included in the provision for credit losses. The allowance policies described above related to specific and non-specific allowances, and the impaired finance receivables and charge-off policies that follow are applied across the portfolio segments and loan classes therein. Given the nature of the Company’s business, the specific allowance is largely related to the NAB and TIF segments. The non-specific allowance, which considers the Company’s internal system of probability of default and loss severity ratings, among other factors, is applicable to commercial portfolio segments. Additionally, portions of the NAB and LCM segments also utilize methodologies under ASC 310-30, as discussed below. PCI Loans Subsequent to acquisition, we evaluate our estimates of the cash flows expected to be collected on a quarterly basis for both commercial PCI loans (evaluated individually) and consumer PCI loans (evaluated on a pool basis). Probable and significant decreases in expected cash flows, as a result of further credit deterioration, result in a charge to the provision for credit losses and a corresponding increase to the allowance for credit losses. Probable and significant increases in expected cash flows due to improved credit quality result in recovery of any previously recorded allowance for loan losses, to the extent applicable, and an increase through the accretable yield applied prospectively for any remaining increase. Changes in expected cash flows caused by changes in market interest rates are recognized as adjustments to the accretable yield on a prospective basis.
Past Due And Non-Accrual Loans	Past Due and Non-Accrual Loans A loan is considered past due for financial reporting purposes if default of contractual principal or interest exists for a period of 30 days or more. Past due loans consist of both loans that are still accruing interest as well as loans on non-accrual status. Loans are placed on non-accrual status when the financial condition of the borrower has deteriorated and payment in full of principal or interest is not expected or the scheduled payment of principal and interest has been delinquent for 90 days or more, unless the loan or finance lease is both well secured and in the process of collection. PCI loans are written down at acquisition to their fair value using an estimate of cash flows deemed to be probable of collecting. Accordingly, such loans are no longer classified as past due or non-accrual even though they may be contractually past due because we expect to fully collect the new carrying values of these loans. Due to the nature of reverse mortgage loans (i.e., there are no required contractual payments due from the borrower), they are considered current for purposes of past due reporting and are excluded from non-accrual loan balances. When a loan is placed on non-accrual status, all previously accrued but uncollected interest is reversed. All future interest accruals, as well as amortization of deferred fees, costs, purchase premiums or discounts are suspended. Where there is doubt as to the recoverability of the original outstanding investment in the loan, the cost recovery method is used and cash collected first reduces the carrying value of the loan. Otherwise, interest income may be recognized to the extent cash is collected.
Impairment Of Finance Receivables	Impairment of Finance Receivables Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable, with the estimated value determined using fair value of collateral and other cash flows if the finance receivable is collateralized, the present value of expected future cash flows discounted at the contract’s effective interest rate, or observable market prices. Impaired finance receivables of $500 thousand or greater that are placed on non-accrual status, largely in Commercial Banking, Commercial Real Estate, Commercial Services, and classes within TIF, are subject to periodic individual review by the Company’s problem loan management (“PLM”) function. The Company excludes certain loan and lease portfolios from its impaired finance receivables disclosures as charge-offs are typically determined and recorded for such loans beginning at 90-180 days of contractual delinquency. These include small-ticket loan and lease receivables, largely in Equipment Finance and NSP, and consumer loans, including single family and multi-family residential mortgages, in NAB and LCM that have not been modified in a troubled debt restructuring, as well as short-term factoring receivables in Commercial Services.
Charge-Off Of Finance Receivables	Charge-off of Finance Receivables Charge-offs on loans are recorded after considering such factors as the borrower’s financial condition, the value of underlying collateral and guarantees (including recourse to dealers and manufacturers), and the status of collection activities. Such charge-offs are deducted from the carrying value of the related finance receivables. This policy is largely applicable in the Commercial Banking, Equipment Finance, Commercial Real Estate, Commercial Services and Transportation Finance loan classes. In general, charge-offs of large ticket commercial loans ($500 thousand or greater) are determined based on the facts and circumstances related to the specific loan and the underlying borrower and the use of judgment by the Company. Charge-offs of small ticket commercial finance receivables are recorded beginning at 90 to 150 days of contractual delinquency. Charge-offs of Consumer loans are recorded beginning at 120 days of delinquency. The value of the underlying collateral will be considered when determining the charge-off amount if repossession is assured and in process. Charge-offs on loans originated are reflected in the provision for credit losses. Charge-offs are recognized on consumer loans for which losses are reimbursable under loss sharing agreements with the FDIC, with a provision benefit recorded to the extent applicable via an increase to the related indemnification asset. Charge-offs on loans with a PAA are first allocated to the respective loan’s discount, then to the extent a charge-off amount exceeds such discount, to provision for credit losses. Collections on accounts charged off in the post- acquisition or post-emergence periods are recorded as recoveries in the provision for credit losses. Collections on accounts that exceed the balance recorded at the date of acquisition are recorded as recoveries in other income. Collections on accounts previously charged off prior to transfer to AHFS are recorded as recoveries in other income.
Impairment Of Long-Lived Assets	Impairment of Long-Lived Assets A review for impairment of long-lived assets, such as operating lease equipment, is performed at least annually or when events or changes in circumstances indicate that the carrying amount of long-lived assets may not be recoverable. Impairment of assets is determined by comparing the carrying amount to future undiscounted net cash flows expected to be generated. If an asset is impaired, the impairment is the amount by which the carrying amount exceeds the fair value of the asset. Fair value is based upon discounted cash flow analysis and available market data. Current lease rentals, as well as relevant and available market information (including third party sales for similar equipment and published appraisal data), are considered both in determining undiscounted future cash flows when testing for the existence of impairment and in determining estimated fair value in measuring impairment. Depreciation expense is adjusted when the projected fair value at the end of the lease term is below the projected book value at the end of the lease term. Assets to be disposed of are included in assets held for sale in the Consolidated Balance Sheet and reported at the lower of the cost or fair market value less disposal costs (“LOCOM”).
Investments	Investments Debt and equity securities classified as “available-for-sale” (“AFS”) are carried at fair value with changes in fair value reported in accumulated other comprehensive income (“AOCI”), a component of stockholders’ equity, net of applicable income taxes. Credit-related declines in fair value that are determined to be OTTI are immediately recorded in earnings. Realized gains and losses on sales are included in other income on a specific identification basis, and interest and dividend income on AFS securities is included in other interest and dividends. Debt securities classified as “held-to-maturity” (“HTM”) represent securities that the Company has both the ability and the intent to hold until maturity, and are carried at amortized cost. Interest on such securities is included in Interest and dividends on interest bearing deposits and investments . Debt and marketable equity security purchases and sales are recorded as of the trade date. Mortgage-backed security investments acquired in the OneWest Transaction were originally recorded as securities AFS at their fair value on the acquisition date. Debt securities classified as AFS that had evidence of credit deterioration as of the acquisition date and for which it was probable that the Company would not collect all contractually required principal and interest payments were classified as PCI debt securities. Subsequently, the accretable yield (based on the cash flows expected to be collected in excess of the recorded investment or fair value) is accreted to interest income using an effective interest method. On a quarterly basis, the cash flows expected to be collected are reviewed and updated. The expected cash flow estimates take into account relevant market and economic data as of the end of the reporting period including, for example, for securities issued in a securitization, underlying loan-level data, and structural features of the securitization, such as subordination, excess spread, overcollateralization or other forms of credit enhancement. OTTI with credit-related losses are recognized as permanent write-downs, while other changes in expected cash flows (e.g., significant increases and contractual interest rate changes) are recognized through a revised accretable yield in subsequent periods. The non-accretable discount is recorded as a reduction to the investments and will be reclassified to accretable discount should expected cash flows improve. Equity securities without readily determinable fair values are generally carried at cost or the equity method of accounting and periodically assessed for OTTI, with the net asset values reduced and when impairment is deemed to be other-than-temporary. Equity method investments are recorded at cost, adjusted to reflect the Company’s portion of income, loss or dividend of the investee. All other non-marketable equity investments are carried at cost and periodically assessed for OTTI. Evaluating Investments for OTTI An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. Unrealized losses that are determined to be temporary in nature are recorded, net of tax, in AOCI for AFS securities, while such losses related to HTM securities are not recorded, as these investments are carried at their amortized cost. The Company conducts and documents periodic reviews of all securities with unrealized losses to evaluate whether the impairment is other than temporary. The Company accounts for investment impairments in accordance with ASC 320-10-35-34, Investments – Debt and Equity Securities: Recognition of an Other-Than-Temporary Impairment . Under the guidance for debt securities, OTTI is recognized in earnings for debt securities that the Company has an intent to sell or that the Company believes it is more-likely-than-not that it will be required to sell prior to the recovery of the amortized cost basis. For debt securities classified as HTM that are considered to have OTTI that the Company does not intend to sell and it is more likely than not that the Company will not be required to sell before recovery, the OTTI is separated into an amount representing the credit loss, which is recognized in other income in the Consolidated Statement of Operations, and the amount related to all other factors, which is recognized in OCI. OTTI on debt securities and equity securities classified as AFS and non-marketable equity investments are recognized in other income in the Consolidated Statement of Operations in the period determined. We evaluate for impairment and to the extent it is credit related we reclassify amounts out of AOCI to o ther i ncome. If it is not credit related then, the amounts remain in AOCI. Amortized cost is defined as the original purchase cost, plus or minus any accretion or amortization of a purchase discount or premium. Regardless of the classification of the securities as AFS or HTM, the Company assesses each investment with an unrealized loss for impairment. Factors considered in determining whether a loss is temporary include: • the length of time that fair value has been below cost; • the severity of the impairment or the extent to which fair value has been below cost; • the cause of the impairment and the financial condition and the near-term prospects of the issuer; • activity in the market of the issuer that may indicate adverse credit conditions; and • the Company’s ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery. The Company’s review for impairment generally includes identification and evaluation of investments that have indications of possible impairment, in addition to: • analysis of individual investments that have fair values less than amortized cost, including consideration of the length of time the investment has been in an unrealized loss position and the expected recovery period; • discussion of evidential matter, including an evaluation of factors or triggers that could cause individual investments to qualify as having OTTI and those that would not support OTTI; and • documentation of the results of these analyses, as required under business policies. Investments in Restricted Stock The Company is a member of, and owns capital stock in, the Federal Home Loan Bank of San Francisco (the “FHLB”) and the FRB. As a condition of membership, the Company is required to own capital stock in the FHLB based upon outstanding FHLB advances and FRB stock based on a specified ratio relative to the Company’s capital. FHLB and FRB stock may only be sold back to the member institutions at its carrying value and cannot be sold to other parties. For FHLB stock, cash dividends are recorded within interest income when declared by the FHLB. For FRB stock, the Company is legally entitled (without declaration) to a specified dividend paid semi-annually. Dividends are recorded in o ther interest and dividends in the Consolidated Statements of Income. Due to the restricted ownership requirements, the Company accounts for its investments in FHLB and FRB stock as a nonmarketable equity stock accounted for under the cost method and reviews the investment for impairment at least annually, or when events or circumstances indicate that their carrying amounts may not be recoverable. The Company’s impairment evaluation considers the long-term nature of the investment, the liquidity position of the member institutions, its recent dividend declarations and the intent and ability to hold this investment for a period of time sufficient to ultimately recover the Company’s recorded investment.
Goodwill And Intangible Assets	Goodwill and Intangible Assets The Company’s goodwill primarily represented the excess of the purchase prices paid for acquired businesses over the respective fair value of net asset values acquired. The goodwill was assigned to reporting units at the date the goodwill was initially recorded. Once the goodwill was assigned to the reporting unit level, it no longer retained its association with a particular transaction, and all of the activities within the reporting unit, whether acquired or internally generated, are available to support the value of goodwill. A portion of the Goodwill balance also represented the excess of reorganization equity value over the fair value of tangible and identifiable intangible assets, net of liabilities. Goodwill is not amortized but it is subject to impairment testing at the reporting unit on an annual basis, or more often if events or circumstances indicate there may be impairment. The Company follows guidance in ASC 350 , Intangibles – Goodwill and Other that includes the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount before performing the two-step impairment test. Examples of qualitative factors to assess include macroeconomic conditions, industry and market considerations, market changes affecting the Company’s products and services, overall financial performance, and company specific events affecting operations. If the Company does not perform the qualitative assessment or upon performing the qualitative assessment concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, CIT would be required to perform the first step of the two-step goodwill impairment test for that reporting unit. The first step involves comparing the fair value of the reporting unit with its carrying value, including goodwill as measured by allocated equity. If the fair value of the reporting unit exceeds its carrying value, goodwill in that unit is not considered impaired. However, if the carrying value exceeds its fair value, step two must be performed to assess potential impairment. In step two, the implied fair value of the reporting unit’s goodwill (the reporting unit’s fair value less its carrying amount, excluding goodwill) is compared with the carrying amount of the goodwill. An impairment loss would be recorded in the amount that the carrying amount of goodwill exceeds its implied fair value. Reporting unit fair values are primarily estimated using discounted cash flow models. See Note 23 – Goodwill and Intangible Assets for further details. Intangible assets relate to acquisitions and the remaining amount from FSA adjustments. Intangible assets have finite lives and as detailed in Note 23 — Goodwill and Intangible Assets , depending on the component, are amortized on an accelerated or straight line basis over the estimated useful lives. Amortization expense for the intangible assets is recorded in operating expenses. The Company reviews intangible assets for impairment annually or when events or circumstances indicate that their carrying amounts may not be recoverable. Impairment is recognized by writing down the asset to the extent that the carrying amount exceeds the estimated fair value, with any impairment recorded in operating expense.
Indemnification Assets	Indemnification Assets Prior to the acquisition of OneWest Bank by CIT, OneWest Bank, was party to certain shared loss agreements with the FDIC related to its acquisitions of IndyMac Federal Bank, FSB (“IndyMac”), First Federal Bank of California, FSB (“First Federal”) and La Jolla Bank, FSB (“La Jolla”). As part of CITs acquisition of OneWest Bank, CIT is now party to these loss sharing agreements with the FDIC. Eligible losses are submitted to the FDIC for reimbursement when a qualifying loss event occurs (e.g., loan modifications, charge-off of loan balance or liquidation of collateral). Reimbursements approved by the FDIC are received usually within 60 days of submission. The IndyMac transaction encompassed multiple loss sharing agreements with the FDIC that provided protection from certain losses related to purchased single family residential (“SFR”) loans and reverse mortgage proprietary loans. In addition, CIT is party to the FDIC agreement to indemnify OneWest Bank, subject to certain requirements and limitations, for third party claims from the Government Sponsored Enterprises (“GSEs” or “Agencies”) related to IndyMac selling representations and warranties, as well as liabilities arising from the acts or omissions (including, without limitation, breaches of servicer obligations) of IndyMac as servicer. The loss sharing arrangements related to the First Federal and La Jolla transactions also provide protection from certain losses related to certain purchased assets, specifically the SFR loans. All of the loss sharing agreements are accounted for as indemnification assets and were initially recognized at estimated fair value as of the acquisition date based on the discounted present value of expected future cash flows under the respective loss sharing agreements pursuant to ASC 805. As of the acquisition date, the First Federal loss share agreement has a zero fair value given the expiration of the commercial loan portion in December 2014 and management’s expectation not to reach the first stated threshold for the SFR mortgage loan portion, which expires in December 2019. As of acquisition date, the La Jolla loss share agreement had a negligible indemnification asset value. Under the La Jolla loss share agreement, the FDIC indemnifies the eligible credit losses for SFR and commercial loans. Unlike SFR mortgage loan claim submissions, which do not take place until the loss is incurred through the conclusion of the foreclosure process, commercial loan claims are submitted to and paid by the FDIC at the time of charge-off. Similar to the First Federal agreement, the commercial loan portion expired prior to the acquisition date (expired March 2015); however the loss thresholds apply to the covered loans collectively. On a subsequent basis, the indemnification asset is measured on the same basis of accounting as the indemnified loans (e.g., as PCI loans under the effective yield method). A yield is determined based on the expected cash flows to be collected from the FDIC over the recorded investment. The expected cash flows on the indemnification asset are reviewed and updated on a quarterly basis. Changes in expected cash flows caused by changes in market interest rates or by prepayments of principal are recognized as adjustments to the effective yield on a prospective basis in interest income. In some cases, the cash flows expected to be collected from the indemnified loans may improve so that the related indemnification asset is no longer expected to be fully recovered. For PCI loans with an associated indemnification asset, if the increase in expected cash flows is recognized through a higher yield, a lower and potentially negative yield (i.e. to the extent no future cash flows are expected to be received) is applied to the related indemnification asset to mirror an accounting offset for the indemnified loans. Any negative yield is determined based on the remaining term of the indemnification agreement. Both accretion (positive yield) and amortization (negative yield) from the indemnification asset are recognized in interest income on loans over the lesser of the contractual term of the indemnification agreement or the remaining life of the indemnified loans. In connection with the La Jolla transaction, the Company recorded a separate FDIC true-up liability for an estimated payment due to the FDIC at the expiry of the loss share agreement, given the estimated cumulative losses of the acquired covered assets are projected to be lower than the cumulative losses originally estimated by the FDIC at inception of the loss share agreement. There is no FDIC true-up liability recorded in connection with the First Federal transaction based on the projected loss estimates at this time. There is also no FDIC true-up liability recorded in connection with the IndyMac transaction as it was not required. This liability represents contingent consideration to the FDIC and is re-measured at estimated fair value on a quarterly basis, with the changes in fair value recognized in noninterest expense. For further discussion, see Note 5 — Indemnification Assets .
Other Assets	Other Assets Tax Credit Investments As a result of the OneWest Transaction, the Company has investments in limited liability entities formed to operate qualifying affordable housing projects, and other entities that make equity investments, provide debt financing or support community-based investments in tax-advantaged projects. Certain affordable housing investments qualify for credit under the Community Reinvestment Act (“CRA”), which requires regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, particularly in neighborhoods with low or moderate incomes. These tax credit investments provide tax benefits to investors primarily through the receipt of federal and/or state income tax credits or tax benefits in the form of tax deductible operating losses or expenses. The Company invests as a limited partner and its ownership amount in each limited liability entity varies. As a limited partner, the Company is not the primary beneficiary (“PB”) as it does not meet the power criterion, i.e., no power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and has no direct ability to unilaterally remove the general partner. Accordingly, the Company is not required to consolidate these entities on its financial statements. For further discussion on VIEs, see Note 9 — Borrowings. These tax credit investments, including the commitment to contribute additional capital over the term of the investment, were recorded at fair value at the acquisition date pursuant to ASC 805 – Business Combinations . On a subsequent basis, these investments are accounted for under the equity method. Under the equity method, the Company’s investments are adjusted for the Company’s share of the investee’s net income or loss for the period. Any dividends or distributions received are recorded as a reduction of the recorded investment. The tax credits generated from investments in affordable housing projects and other tax credit investments are recognized on the consolidated financial statements to the extent they are utilized on the Company’s income tax returns through the tax provision. Tax credit investments are evaluated for potential impairment at least annually, or more frequently, when events or conditions indicate that it is deemed probable that the Company will not recover its investment. Potential indicators of impairment might arise when there is evidence that some or all tax credits previously claimed by the limited liability entities would be recaptured, or that expected remaining credits would no longer be available to the limited liability entities. If an investment is determined to be impaired, it is written down to its estimated fair value and the new cost basis of the investment is not adjusted for subsequent recoveries in value. These investments are included within o ther assets and any impairment loss would be recognized in o ther income. FDIC Receivable In connection with the OneWest Transaction, the Company has a receivable from the FDIC representing a secured interest in certain homebuilder, home construction and lot loans. The secured interest entitles the Company to 40% of the underlying cash flows. The Company elected to measure the FDIC Receivable at estimated fair value under the fair value option. The fair value is estimated based on cash flows expected to be collected from the Company’s participation interest in the underlying collateral. The underlying cash flows include estimated amounts expected to be collected from repayment of loan principal and interest and net proceeds from property liquidations. These cash flows are offset by amounts paid for servicing expenses, management fees, and liquidation expenses. The Company recognizes interest income on the FDIC receivable on an effective yield basis over the expected remaining life. The gains and losses from changes in the estimated fair value of the asset is recorded separately in Other income. For further discussion, see Note 12 — Fair Value . Other Real Estate Owned Other real estate owned (“OREO”) represents collateral acquired from the foreclosure of secured loans and is being actively marketed for sale. These assets are initially recorded at lower of cost or market value less disposition costs. Estimated market value is generally based upon independent appraisals or broker price opinions, which are then modified based on assumptions and expectations that are determined by management. Any write-down as a result of differences between carrying and market value on the date of transfer from loan classification is charged to the allowance for credit losses. Subsequently, the assets are recorded at the lower of its carrying value or estimated fair value less disposition costs. If the property or other collateral has lost value subsequent to foreclosure, a valuation allowance (contra asset) is established, and the charge is recorded in Other income. OREO values are reviewed on a quarterly basis and subsequent declines in estimated fair value are recognized in earnings in the current period. Holding costs are expensed as incurred and reflected in operating expenses. Upon disposition of the property, any difference between the proceeds received and the carrying value is booked to gain or loss on disposition. Property and Equipment Property and equipment are included in other assets and are carried at cost less accumulated depreciation and amortization. Depreciation is expensed using the straight-line method over the estimated service lives of the assets. Estimated service lives generally range from 3 to 7 years for furniture, fixtures and equipment and 20 to 40 years for buildings. Leasehold improvements are amortized over the term of the respective lease or the estimated useful life of the improvement, whichever is shorter. Servicing Advances The Company is required to make servicing advances in the normal course of servicing mortgage loans. These advances include customary, reasonable and necessary out-of-pocket costs incurred in the performance of its servicing obligation. They include advances related to foreclosure activities, funding of principal and interest with respect to mortgage loans held in connection with a securitized transaction and taxes and other assessments which are or may become a lien upon the mortgage property. Servicing advances are generally reimbursed from cash flows collected from the loans. As the servicer of securitizations of loans or equipment leases, the Company may be required to make servicing advances on behalf of obligors if the Company determines that any scheduled payment was not received prior to the end of the applicable collection period. Such advances may be limited by the Company based on its assessment of recoverability of such amounts in subsequent collection periods. The reimbursement of servicing advances to the Company is generally prioritized over the distribution of any payments to the investors in the securitizations. A receivable is recognized for the advances that are expected to be reimbursed, while a loss is recognized in operating expenses for advances that are not expected to be reimbursed.
Derivative Financial Instruments	Derivative Financial Instruments The Company manages economic risk and exposure to interest rate and foreign currency risk through derivative transactions in over-the-counter markets with other financial institutions. The Company also offers derivative products to its customers in order for them to manage their interest rate and currency risks. The Company does not enter into derivative financial instruments for speculative purposes. The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) includes measures to broaden the scope of derivative instruments subject to regulation by requiring clearing and exchange trading of certain derivatives, and imposing margin, reporting and registration requirements for certain market participants. Since the Company does not meet the definition of a Swap Dealer or Major Swap Participant under the Dodd-Frank Act, the reporting and clearing obligations, which became effective April 10, 2013, apply to a limited number of derivative transactions executed with its lending customers in order to manage their interest rate risk. Derivatives utilized by the Company may include swaps, forward settlement contracts and options contracts. A swap agreement is a contract between two parties to exchange cash flows based on specified underlying notional amounts, assets and/or indices. Forward settlement contracts are agreements to buy or sell a quantity of a financial instrument, index, currency or commodity at a predetermined future date, and rate or price. An option contract is an agreement that gives the buyer the right, but not the obligation, to buy or sell an underlying asset from or to another party at a predetermined price or rate over a specific period of time. The Company documents, at inception, all relationships between hedging instruments and hedged items, as well as the risk management objectives and strategies for undertaking various hedges. Upon executing a derivative contract, the Company designates the derivative as either a qualifying hedge or non-qualifying hedge. The designation may change based upon management’s reassessment of circumstances. The Company utilizes cross-currency swaps and foreign currency forward contracts to hedge net investments in foreign operations. These transactions are classified as foreign currency net investment hedges with resulting gains and losses reflected in AOCI. For hedges of foreign currency net investment positions, the “forward” method is applied whereby effectiveness is assessed and measured based on the amounts and currencies of the individual hedged net investments versus the notional amounts and underlying currencies of the derivative contract. For those hedging relationships where the critical terms of the underlying net investment and the derivative are identical, and the credit-worthiness of the counterparty to the hedging instrument remains sound, there is an expectation of no hedge ineffectiveness so long as those conditions continue to be met. The Company also enters into foreign currency forward contracts to manage the foreign currency risk associated with its non-U.S. subsidiaries’ funding activities and designates these as foreign currency cash flow hedges for which certain components are reflected in AOCI and others recognized in noninterest income when the underlying transaction impacts earnings. The company uses foreign currency forward contracts, interest rate swaps, cross currency interest rate swaps, and options to hedge interest rate and foreign currency risks arising from its asset and liability mix. These are treated as economic hedges. The Company also provides interest rate derivative contracts to support the business requirements of its customers (“customer-related positions”). The derivative contracts include interest rate swap agreements and interest rate cap and floor agreements wherein the Company acts as a seller of these derivative contracts to its customers. To mitigate the market risk associated with these customer derivatives, the Company enters into similar offsetting positions with broker-dealers. All derivative instruments are recorded at their respective fair value. Derivative instruments that qualify for hedge accounting are presented in the balance sheet at their fair values in other assets or other liabilities, with changes in fair value (gains and losses) of cash flow hedges deferred in AOCI, a component of equity. For qualifying derivatives with periodic interest settlements, e.g. interest rate swaps, interest income or interest expense is reported as a separate line item in the income statement. Derivatives that do not qualify for hedge accounting are also presented in the balance sheet in other assets or other liabilities, but with their resulting gains or losses recognized in Other income. For non-qualifying derivatives with periodic interest settlements, the Company report s interest income with other changes in fair value in o ther income. Fair value is based on dealer quotes, pricing models, discounted cash flow methodologies, or similar techniques for which the determination of fair value may require significant management judgment or estimation. The fair value of the derivative is reported on a gross-by-counterparty basis. Valuations of derivative assets and liabilities reflect the value of the instrument including the Company’s and counterparty’s credit risk. CIT is exposed to credit risk to the extent that the counterparty fails to perform under the terms of a derivative. Losses related to credit risk are reflected in o ther income. The Company manages this credit risk by requiring that all derivative transactions entered into as hedges be conducted with counterparties rated investment grade at the initial transaction by nationally recognized rating agencies, and by setting limits on the exposure with any individual counterparty. In addition, pursuant to the terms of the Credit Support Annexes between the Company and its counterparties, CIT may be required to post collateral or may be entitled to receive collateral in the form of cash or highly liquid securities depending on the valuation of the derivative instruments as measured on a daily basis.
Fair Value	Fair Value Fair Value Hierarchy CIT measures the fair value of its financial assets and liabilities in accordance with ASC 820 Fair Value Measurements , which defines fair value, establishes a consistent framework for measuring fair value and requires disclosures about fair value measurements. The Company categorizes its financial instruments, based on the significance of inputs to the valuation techniques, according to the following three-tier fair value hierarchy: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that are accessible at the measurement date. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as certain other securities that are highly liquid and are actively traded in over-the-counter markets; • Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes derivative contracts and certain loans held-for-sale; • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using valuation models, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category generally includes highly structured or long-term derivative contracts and structured finance securities where independent pricing information cannot be obtained for a significant portion of the underlying assets or liabilities. Valuation Process The Company has various processes and controls in place to ensure that fair value is reasonably estimated. The Company generally determines the estimated fair value of Level 3 assets and liabilities by using internally developed models and, to a lesser extent, prices obtained from third-party pricing services or broker dealers (collectively, third party vendors). The Company’s internally developed models primarily consist of discounted cash flow techniques, which require the use of relevant observable and unobservable inputs. Unobservable inputs are generally derived from actual historical performance of similar assets or are determined from previous market trades for similar instruments. These unobservable inputs include discount rates, default rates, loss severity and prepayment rates. Internal valuation models are subject to review prescribed by the Company’s model validation policy that governs the use and control of valuation models used to estimate fair value. This policy requires review and approval of significant models by the Company’s model review group , who are independent of the business units and to perform model validation. Model validation assesses the adequacy and appropriateness of the model, including reviewing its processing components, logic and output results and supporting model documentation. These procedures are designed to provide reasonable assurance that the model is appropriate for its intended use and performs as expected. Periodic re-assessments of models are performed to ensure that they are continuing to perform as designed. The Company updates model inputs and methodologies periodically as a result of the monitoring procedures in place. Procedures and controls are in place to ensure new and existing models are subject to periodic validations by the Independent Model Validation Group (IMV). Oversight of the IMV is provided by the Model Governance Committee (“MGC”). All internal valuation models are subject to ongoing review by business unit level management. More complex models, such as those involved in the fair value analysis, are subject to additional oversight, at least quarterly, by the Company’s Valuation Reserve Working Group (“VRWG”), which consist of senior management , which review s the Company’s valuations for complex instruments. For valuations involving the use of third party vendors for pricing of the Company’s assets and liabilities, or those of potential acquisitions, the Company performs due diligence procedures to ensure information obtained and valuation techniques used are appropriate. The Company monitors and reviews the results from these third party vendors to ensure the estimated fair values are reasonable. Although the inputs used by the third party vendors are generally not available for review, the Company has procedures in place to provide reasonable assurance that the relied upon information is complete and accurate. Such procedures may include, as available and applicable, comparison with other pricing vendors, corroboration of pricing by reference to other independent market data and investigation of prices of individual assets and liabilities.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the expected future taxation of events that have been reflected in the consolidated financial statements. Deferred tax assets and liabilities are determined based on the differences between the book values and the tax basis of particular assets and liabilities, using tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is provided to reduce the reported amount of any net deferred tax assets of a reporting entity if, based upon the relevant facts and circumstances, it is more likely than not that some or all of the deferred tax assets will not be realized. Additionally, in certain situations, it may be appropriate to write-off the deferred tax asset against the valuation allowance. This reduces the valuation allowance and the amount of the respective gross deferred tax asset that is disclosed. A write-off might be appropriate if there is only a remote likelihood that the reporting entity will ever utilize its respective deferred tax assets, thereby eliminating the need to disclose the gross amounts. The Company is subject to the income tax laws of the United States, its states and municipalities and those of the foreign jurisdictions in which the Company operates. These tax laws are complex, and the manner in which they apply to the taxpayer’s facts is sometimes open to interpretation. Given these inherent complexities, the Company must make judgments in assessing the likelihood that a beneficial income tax position will be sustained upon examination by the taxing authorities based on the technical merits of the tax position. An income tax benefit is recognized only when, based on management’s judgment regarding the application of income tax laws, it is more likely than not that the tax position will be sustained upon examination. The amount of benefit recognized for financial reporting purposes is based on management’s best judgment of the most likely outcome resulting from examination given the facts, circumstances and information available at the reporting date. The Company adjusts the level of unrecognized tax benefits when there is new information available to assess the likelihood of the outcome. Liabilities for uncertain income tax positions are included in current taxes payable, which is reflected in accrued liabilities and payables. Accrued interest and penalties for unrecognized tax positions are recorded in income tax expense.
Variable Interest Entities	Variable Interest Entities A VIE is a corporation, partnership, limited liability company, or any other legal structure used to conduct activities or hold assets. These entities: lack sufficient equity investment at risk to permit the entity to finance its activities without additional subordinated financial support from other parties; have equity owners who either do not have voting rights or lack the ability to make significant decisions affecting the entity’s operations; and/or have equity owners that do not have an obligation to absorb the entity’s losses or the right to receive the entity’s returns. The Company accounts for its VIEs in accordance with Accounting Standards Update (“ASU”) No. 2009-16, Transfers and Servicing (Topic 860) – Accounting for Transfers of Financial Assets and ASU No. 2009-17, Consolidations (Topic 810) – Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities . ASU 2009-17 requires qualified special purpose entities to be evaluated for consolidation and also changed the approach to determining a VIE’s primary beneficiary (“PB”) and required companies to more frequently reassess whether they must consolidate VIEs. The PB is the party that has both (1) the power to direct the activities of an entity that most significantly impact the VIE’s economic performance; and (2) through its interests in the VIE, the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. To assess whether the Company has the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, the Company considers all facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes, first, identifying the activities that most significantly impact the VIE’s economic performance; and second, identifying which party, if any, has power over those activities. In general, the parties that make the most significant decisions affecting the VIE (such as asset managers, collateral managers, servicers, or owners of call options or liquidation rights over the VIE’s assets) or have the right to unilaterally remove those decision-makers are deemed to have the power to direct the activities of a VIE. To assess whether the Company has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, the Company considers all of its economic interests, including debt and equity investments, servicing fees, and derivative or other arrangements deemed to be variable interests in the VIE. This assessment requires that the Company apply judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Factors considered in assessing significance include: the design of the VIE, including its capitalization structure; subordination of interests; payment priority; relative share of interests held across various classes within the VIE’s capital structure; and the reasons why the interests are held by the Company. The Company performs on-going reassessments of: (1) whether any entities previously evaluated under the majority voting-interest framework have become VIEs, based on certain events, and are therefore subject to the VIE consolidation framework; and (2) whether changes in the facts and circumstances regarding the Company’s involvement with a VIE cause the Company’s consolidation conclusion regarding the VIE to change. When in the evaluation of its interest in each VIE it is determined that the Company is considered the primary beneficiary, the VIE’s assets, liabilities and non-controlling interests are consolidated and included in the Consolidated Financial Statements. See Note 9 — Borrowings for further details.
Non-Interest Income	Non-interest Income Non-interest income is recognized in accordance with relevant authoritative pronouncements and includes rental income on operating leases and other income. Other income includes (1) factoring commissions, (2) gains and losses on sales of equipment, (3) fee revenues, including fees on lines of credit, letters of credit, capital markets related fees, agent and advisory fees, service charges on deposit accounts, and servicing fees on loans CIT services for others, (4) gains and losses on loan and portfolio sales, (5) gains and losses on OREO sales, (6) gains and losses on investments, (7) gains and losses on derivatives and foreign currency exchange, (8) impairment on assets held for sale, and (9) other revenues. Other revenues include items that are more episodic in nature, such as gains on work-out related claims, recoveries on acquired loans or loans charged off prior to transfer to AHFS, proceeds received in excess of carrying value on non-accrual accounts held for sale that were repaid or had another workout resolution, insurance proceeds in excess of carrying value on damaged leased equipment, and also includes income from joint ventures.
Non-Interest Expenses	Non-interest Expenses Non-interest expense is recognized in accordance with relevant authoritative pronouncements and includes deprecation on operating lease equipment, maintenance and other operating expenses, loss on debt extinguishment and operating expense. Operating expenses consists of (1) compensation and benefits, (2) technology costs, (3) professional fees, (4) net occupancy expenses, (5) provision for severance and facilities exiting activities, (6) advertising and marketing, (7) amortization of intangible assets, and (8) other expenses.
Consolidated Statements Of Cash Flows	Consolidated Statements of Cash Flows Unrestricted cash and cash equivalents includes cash and interest-bearing deposits, which are primarily overnight money market investments and short term investments in mutual funds. The Company maintains cash balances principally at financial institutions located in the U.S. and Canada. The balances are not insured in all cases. Cash and cash equivalents also include amounts at CIT Bank, which are only available for the bank’s funding and investment requirements. Cash inflows and outflows from customer deposits are presented on a net basis. Most factoring receivables are presented on a net basis in the Statements of Cash Flows, as factoring receivables are generally less than 90 days. Cash receipts and cash payments resulting from purchases and sales of loans, securities, and other financing and leasing assets are classified as operating cash flows in accordance with ASC 230-10-45-21 when these assets are originated/acquired and designated specifically for resale. Activity for loans originated or acquired for investment purposes, including those subsequently transferred to AHFS, is classified in the investing section of the statement of cash flows in accordance with ASC 230-10-45-12 and 230-10-45-13. The vast majority of the Company’s loan originations are for investment purposes. Cash receipts resulting from sales of loans, beneficial interests and other financing and leasing assets that were not specifically originated and/or acquired and designated for resale are classified as investing cash inflows regardless of subsequent classification. Activity of discontinued operations is included in various line items of the Statements of Cash Flows and summary items are disclosed in Note 2 — Acquisition and Disposition Activities . In preparing the interim financial statements for the quarter ended September 30, 2015, the Company discovered and corrected an immaterial error impacting the classification of certain immaterial balances between line items and categories presented in the Consolidated Statements of Cash Flows. The amounts presented comparatively for the nine months ended September 30, 2014 have been revised for these misclassifications. For the nine months ended September 30, 2014 the errors outlined above resulted in an overstatement of net cash flows provided by operations of $92.8 million, and overstatement of net cash flows used in investing activities of $10.0 million and an understatement of net cash flows provided by financing activities of $82.8 million. The errors had no impact on the Company’s reported “Increase (decrease) in unrestricted cash and cash equivalents” or “Unrestricted cash and cash equivalents” for any period.
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement The FASB issued an amendment to U.S. GAAP on April 15, 2015, to explain how businesses and other organizations should account for the fees for purchasing cloud computing services. The changes in Accounting Standards Update (“ASU”) No. 2015-05, Intangibles: Goodwill and Other: Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , add to the guidance for intangible assets to help businesses and other organizations determine whether a cloud computing agreement includes a software license or should be considered as a service agreement. The amendments to FASB ASC 350-40, Intangibles: Goodwill and Other: Internal-Use Software: Scope and Scope Exceptions, formerly AICPA Statement of Position (“SOP”) No. 98-1, state that the portion of a cloud computing agreement that includes a software license should be accounted for in a manner that is consistent with other software licenses. An arrangement that does not include a software license should be accounted for as a service contract. Public companies have to apply the amendment for fiscal years that start after December 15, 2015. Companies will have to apply the changes in their first-quarter reports for 2016. CIT is currently evaluating the impact of adopting this amendment. Debt Issuance Costs On April 7, 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. Debt issuance costs are specific incremental costs, other than those paid to the lender, that are directly attributable to issuing a debt instrument (i.e., third party costs). Prior to the issuance of the standard, debt issuance costs were required to be presented in the balance sheet as a deferred charge (i.e., an asset). For public business entities, the standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The new guidance will be applied on a retrospective basis. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures. Amendments to the Consolidation Analysis The FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , in February 2015 to improve targeted areas of the consolidation standard and reduce the number of consolidation models. The new guidance changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities. The Board changed the way the voting rights characteristic in the VIE scope determination is evaluated for corporations, which may significantly impact entities for which decision making rights are conveyed though a contractual arrangement. Under ASU 2015-02: More limited partnerships and similar entities will be evaluated for consolidation under the revised consolidation requirements that apply to VIEs. Fees paid to a decision maker or service provider are less likely to be considered a variable interest in a VIE. Variable interests in a VIE held by related parties of a reporting enterprise are less likely to require the reporting enterprise to consolidate the VIE. There is a new approach for determining whether equity at-risk holders of entities that are not similar to limited partnerships have power to direct the entity’s key activities when the entity has an outsourced manager whose fee is a variable interest. The deferral of consolidation requirements for certain investment companies and similar entities of the VIE in ASU 2009-17 is eliminated. The anticipated impacts of the new update include: A new consolidation analysis is required for VIEs, including many limited partnerships and similar entities that previously were not considered VIEs. It is less likely that the general partner or managing member of limited partnerships and similar entities will be required to consolidate the entity when the other investors in the entity lack both participating rights and kick-out rights. Limited partnerships and similar entities that are not VIEs will not be consolidated by the general partner. It is less likely that decision makers or service providers involved with a VIE will be required to consolidate the VIE. Entities for which decision making rights are conveyed through a contractual arrangement are less likely to be considered VIEs. Reporting enterprises with interests in certain investment companies and similar entities that are considered VIEs will no longer evaluate those entities for consolidation based on majority exposure to variability. The guidance is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2015 (i.e. January 1, 2016). A reporting enterprise is permitted to apply either a modified retrospective approach or full retrospective application. CIT is currently evaluating the impact of adopting this ASU. Extraordinary and Unusual Items The FASB issued ASU 2015-01, Extraordinary and Unusual Items , in January 2015 as part of FASB’s simplification initiative, which eliminates the concept of extraordinary item and the need for entities to evaluate whether transactions or events are both unusual in nature and infrequently occurring. The ASU precludes (1) segregating an extraordinary item from the results of ordinary operations; (2) presenting separately an extraordinary item on the income statement, net of tax, after income from continuing operations; and (3) disclosing income taxes and earnings-per-share data applicable to an extraordinary item. However, the ASU does not affect the reporting and disclosure requirements for an event or transaction that is unusual in nature or that occurs infrequently. So, although the Company will no longer need to determine whether a transaction or event is both unusual in nature and infrequently occurring, CIT will still need to assess whether items are unusual in nature or infrequent to determine if the additional presentation and disclosure requirements for these items apply. For all entities, ASU 2015-01 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures. Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern , in August 2014. This ASU describes how entities should assess their ability to meet their obligations and sets disclosure requirements about how this information should be communicated. The standard will be used along with existing auditing standards, and provides the following key guidance: 1. Entities must perform a going concern assessment by evaluating their ability to meet their obligations for a look-forward period of one year from the financial statement issuance date (or date the financial statements are available to be issued). 2. Disclosures are required if it is probable an entity will be unable to meet its obligations within the look-forward period. Incremental substantial doubt disclosure is required if the probability is not mitigated by management’s plans. 3. Pursuant to the ASU, substantial doubt about an entity’s ability to continue as a going concern exists if it is probable that the entity will be unable to meet its obligations as they become due within one year after the date the annual or interim financial statements are issued or available to be issued (assessment date). The new standard applies to all entities for the first annual period ending after December 15, 2016. Company management is responsible for assessing going concern uncertainties at each annual and interim reporting period thereafter. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures. Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure The FASB issued ASU 2014-14: Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force) in August 2014. The ASU was issued to clarify the classification and measurement of a foreclosed mortgage loan guaranteed by the government. ASU 2014-14 applies to all creditors that hold government-guaranteed mortgage loans, including those guaranteed by the U.S. Federal Housing Administration (“FHA”), the U.S. Department of Housing and Urban Development (“HUD”), and the U.S. Department of Veterans Affairs (“VA”). Specifically, creditors should reclassify loans that are within the scope of the ASU to “other receivables” upon foreclosure, rather than reclassifying them to OREO. Importantly, a reporting entity must elect the same method of adoption as elected under Accounting Standards Update No. 2014-04, Receivables - Troubled Debt Restructurings by Creditors, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update were effective for CIT upon its acquisition of OneWest Bank in August 2015 and CIT will apply them via the prospective transition, i.e. to foreclosures that occur after the acquisition date. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period The FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period , in June 2014. The ASU directs that a performance target that affects vesting and can be achieved after the requisite service period is a performance condition. That is, compensation cost would be recognized over the required service period if it is probable that the performance condition would be achieved. The total amount of compensation cost recognized during and after the requisite service period would reflect the number of awards that are expected to vest and would be adjusted to reflect those awards that ultimately vest. The ASU does not require additional disclosures. Entities may apply the amendments in this update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The ASU is effective for annual periods beginning after December 15, 2015 and interim periods within those years. CIT is currently evaluating the impact of adopting this ASU and is reviewing existing awards for applicability. Revenue Recognition The FASB issued ASU No. 2014-09 - Revenue from Contracts with Customers , in June 2014, which will supersede virtually all of the revenue recognition guidance in GAAP, except as it relates to lease accounting. The core principle of the five-step model is that a company will recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In doing so, many companies will have to make more estimates and use more judgment than they do under current GAAP. The five-step analysis of transactions, to determine when and how revenue is recognized, includes: 1. Identify the contract with the customer. 2. Identify the performance obligations in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to the performance obligations. 5. Recognize revenue when or as each performance obligation is satisfied. Companies can choose to apply the standard using either the full retrospective approach or a modified retrospective approach. Under the modified approach, financial statements will be prepared for the year of adoption using the new standard, but prior periods will not be adjusted. Instead, companies will recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for contracts that still require performance by the company and disclose all line items in the year of adoption as if they were prepared under today’s revenue guidance. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which deferred the effective date one year for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period, which means CIT would apply the standard in their SEC filings for the first quarter of 2018. Public companies that choose full retrospective application will need to apply the standard to amounts they report for 2016 and 2017 on the face of their full year 2018 financial statements. CIT is currently reviewing the impact of adoption and has not determined the effect of the standard on its ongoing financial reporting. Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure The FASB issued ASU 2014-04 Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40), Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force) in January 2014. This update clarifies when banks should derecognize a defaulted consumer mortgage loan and recognize other real estate owned. It is intended to reduce diversity in practice that has arisen due to the increased number of foreclosures and extended nature of foreclosure proceedings. The scope of the guidance is limited to consumer loans collateralized by residential real estate and clarifies when an in substance repossession or foreclosure occurs - and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan - in either of the following situations: 1. The creditor obtains legal title to the residential real estate property. 2. Completion of a deed in lieu of foreclosure or similar legal agreement under which the borrower conveys all interest in the residential real estate property to the creditor to satisfy that loan. In addition to existing disclosure that includes the amount of investments in impaired loans, the nature and extent of Troubled Debt Restructuring (“TDRs”) during the period and the effect on the allowance for credit losses and assets held for sale, entities will be required to disclose at each balance sheet date (1) the amount of outstanding foreclosed residential real estate and (2) the amount of recorded investment in residential real estate mortgage loans in the process of foreclosure per local jurisdiction requirements. The amendments in this Update were effective for CIT upon its acquisition of OneWest Bank in August 2015 using the prospective transition method, which apply to all instances of receiving physical possession of residential real estate property collateralized by consumer mortgage loans that occur after the acquisition date. Accounting for Investments in Qualified Affordable Housing Projects The FASB issued ASU 2014-01 Investments - Equity Method and Joint Ventures (Topic 323), Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force) – in January 2014. The ASU revised the accounting for investments in qualified affordable housing projects: · Modifies the conditions that must be met to present the pretax effects and related tax benefits of such investments as a component of income taxes (“net” within income tax expense). · For investments that qualify for “net” presentation of investment performance, the ASU introduces a “proportional amortization method” that can be elected, in lieu of the effective yield method, to amortize the investment basis. Under the proportional amortization method an investor amortizes the cost of its investment, in proportion to the tax credits and other tax benefits it receives, to income tax expense. · Requires new disclosure for all investors in these projects. Under the proportional amortization method, an investment must be tested for impairment when events or changes in circumstances indicate that it is more likely than not that the carrying amount of the investment will not be realized. An impairment loss is measured as the amount by which the carrying amount of the investment exceeds its fair value. Previously recognized impairment losses cannot be reversed. The ASU introduces disclosure requirements for all investments in qualified affordable housing projects, regardless of the accounting method used for those investments. An investor must disclose information that enables users of its financial statements to understand: 1. The nature of its investments in affordable housing projects, and 2. The effect of the measurement of those investments and the related tax credits on its financial statements. The amendments in this Update were effective for CIT upon its acquisition of OneWest Bank in August 2015 . The amendment was previously not applicable to CIT, therefore there is no retrospective impact to CIT’s financial statements.

Acquisition And Disposition A33

Acquisition And Disposition Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Acquisition And Disposition Activities [Abstract]
Schedule Of Recognized Identifiable Assets Acquired and Liabilites Assumed	Purchase price $ 3,391.6 Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value Cash and interest bearing deposits $ 4,411.6 Investment securities Assets held for sale Loans HFI Indemnification assets Other assets Assets of discontinued operation Deposits Borrowings Other liabilities Liabilities of discontinued operation Total fair value of identifiable net assets $ 2,607.7 Intangible assets $ 185.9 Goodwill $ 598.0
Summary Of Key Valuation Input Assumptions By Major Product Type	Discount Rate Severity Rate Prepayment Rate Default Rate Product Type Range Weighted Avg. Range Weighted Avg. Range Weighted Avg. Range Weighted Avg. SFR 4.6% - 12.1% 6.9% (1) (1) (1) (1) (1) (1) Non-SFR 5.1% - 10.0% 6.0% 36.6% - 60.9% 45.8% 1.0% - 6.0% 3.4% 0.2% - 82.4% 11.0% Jumbo Mortgages 3.3% - 4.2% 3.4% 0.0% - 10.0% 2.7% 10.0% - 18.0% 13.9% 0.0% - 0.2% 0.0% Commercial Real Estate 4.2% - 5.0% 4.5% 15.0% - 35.0% 19.3% 1.5% - 6.0% 4.6% 0.6% - 14.7% 1.4% SBA 4.2% - 7.3% 5.1% 25.0% 25.0% 2.0% - 5.0% 4.9% 3.0% - 24.9% 3.4% Repurchased GNMA T + 0.9% 2.1% 0.0% - 13.5% 6.4% 0.0% - 7.3% 3.4% 0.0% - 8.8% 4.2% Reverse Mortgages 10.5% 10.5% (2) (2) (3) (3) NA (4) NA C&I Loans 5.3% - 8.4% 6.0% NA NA NA NA NA NA (1) SFR Severity, Prepayment and Default Rates were based on portfolio historic delinquency migration and loss experience. (2) Reverse mortgage severity rates were based on HPI and LTV. (3) Reverse mortgage prepayment rates were based on mobility and mortality curves. (4) NA means not applicable.
Schedule Of Intangible Assets Acquired	Intangible Assets Fair Value Estimated Useful Life Amortization Method Core deposit intangibles 7 years Straight line Trade names 10 years Straight line Customer relationships 10 years Accelerated Other 3 years Straight line Total $ 185.9
Unaudited Pro Forma	September 30, 2015 2014 Net finance revenue $ 2,348.6 $ 2,435.6 Net income
Condensed Balance Sheet And Statement Of Operations From Discontinued Operations	Condensed Balance Sheet of Discontinued Operations (dollars in millions) September 30, 2015 Cash & Cash Equivalents HECM loans (1) Other assets (2) Assets of discontinued operations Secured borrowings- HECM loans Deposits (3) Other liabilities (4) Liabilities of discontinued operations (1) Net finance receivables includes $453.2 million of securitized balances and $10.7 million of additional draws awaiting securitization at September 30, 2015. Secured borrowings relate to those receivables. (2) Amount includes servicing advances, servicer receivables and property and equipment, net of accumulated depreciation. (3) Other liabilities include contingent liabilities and other accrued liabilities. The results from discontinued operations, net of tax, for the quarters and nine months ended September 30, 2015 and 2014 are as follows: Condensed Statements of Operation (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Interest income (1) $ 2.2 $ - $ 2.2 $ 27.0 Interest expense (1) - Other income - Operating expenses (2) - Loss from discontinued operation before provision (benefit) for income taxes - (Benefit) provision for income taxes (3) Loss from discontinued operation, net of taxes Gain on sale of discontinued operations - - - Income (loss) from discontinued operation, net of taxes $ (3.7) $ (0.5) $ (3.7) $ 53.5 (1) Includes amortization for the premium associated with the HECM loans and related secured borrowings for the quarter and nine months ended September 30, 2015. (2) For the quarter and nine months ended September 30, 2015, operating expense is comprised of $4.4 million in salaries and benefits, $2.8 million in professional services and $4.6 million for other expenses such as data processing, premises and equipment, legal settlement, and miscellaneous charges. (3) The Company’s tax rate for discontinued operations is 36.5% for the quarter and nine months ended September 30, 2015. Condensed Statement of Cash Flows (dollars in millions) Nine Months Ended September 30, 2015 Net cash flows used for operations ($1.4) Net cash flows used for investing activities

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2015
Loans [Abstract]
Schedule Of Finance Receivables	September 30, December 31, 2015 2014 Commercial Loans $ 21,860.1 $ 14,850.8 Direct financing leases and leveraged leases Total commercial Consumer Loans - Total finance receivables Finance receivables held for sale Finance receivables and held for sale receivables (1) $ 34,381.2 $ 20,274.9 (1) Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment primarily related to portfolios in Canada, China and the U.K. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table.
Schedule Of Finance Receivables By Segment, Based On Obligor Location	September 30, 2015 December 31, 2014 Domestic Foreign Total Domestic Foreign Total Transportation & International Finance $ 713.0 $ 2,592.5 $ 3,305.5 $ 812.6 $ 2,746.3 $ 3,558.9 North American Banking Legacy Consumer Mortgages - - - Non-Strategic Portfolios - - - - Total $ 29,393.9 $ 3,012.3 $ 32,406.2 $ 15,457.7 $ 4,037.3 $ 19,495.0
Components Of Net Investment In Finance Receivables	September 30, December 31, 2015 2014 Unearned income $ (879.6) $ (1,037.8) Unamortized premiums/(discounts) Accretable yield on PCI loans - Net unamortized deferred costs and (fees)
Finance And Held-For-Sale Receivables - By Risk Rating	Grade: Pass Special Mention Classified- accruing Classified- non-accrual PCI Loans Total September 30, 2015 Transportation & International Finance Aerospace $ 1,575.4 $ 71.5 $ 54.0 $ 4.7 $ - $ 1,705.6 Rail - - Maritime Finance - - - International Finance - Total TIF - North American Banking Commercial Banking Equipment Finance - Commercial Real Estate Commercial Services - - Consumer Banking - - - - Total NAB $ 20,657.5 $ 1,393.7 $ 687.9 $ 156.3 $ 207.4 $ 23,102.8 Non- Strategic Portfolios $ 53.4 $ 1.8 $ 0.5 $ 4.5 $ - Total Commercial $ 24,594.9 $ 1,528.2 $ 863.7 $ 212.9 $ 207.4 $ 27,407.1 December 31, 2014 Transportation & International Finance Aerospace $ 1,742.0 $ 11.4 $ 43.0 $ 0.1 $ - $ 1,796.5 Rail - - Maritime Finance - - - - International Finance - Total TIF - North American Banking - Commercial Banking - Equipment Finance - Commercial Real Estate - - - Commercial Services - - Total NAB $ 14,104.2 $ 1,254.2 $ 499.5 $ 100.9 $ - $ 15,958.8 Non- Strategic Portfolios $ 288.7 $ 18.4 $ 10.5 $ 22.4 $ - Total Commercial $ 18,109.0 $ 1,393.3 $ 612.1 $ 160.5 $ - $ 20,274.9
Schedule Of Consumer Loan LTV Distributions	Consumer Loan LTV Distributions at September 30, 2015 (dollars in millions) Single Family Residential Reverse Mortgage (1) Covered Loans Non-covered Loans Total Single Family Covered Loans Non-covered loans Total Reverse Total Non- PCI PCI Non- PCI PCI Residential Non- PCI Non- PCI PCI Mortgages Consumer Loans Greater than 125% $ 1.3 $ 464.5 $ 0.4 $ 18.3 $ 484.5 $ 0.9 $ 1.3 $ 39.2 $ 41.4 $ 525.9 101% - 125% 80% - 100% Less than 80% Not Applicable (2) - - - - - - - Total $ 2,140.4 $ 2,498.6 $ 1,338.3 $ 54.8 $ 6,032.1 $ 456.9 $ 357.9 $ 82.3 $ 897.1 $ 6,929.2 (1) Certain Consumer Loans do not have LTV’s, including the Credit Card portfolio.
Schedule Of Covered Loans By Segment	PCI Non-PCI Total LCM loans HFI at crrying value $ 2,498.6 $ 2,597.3 $ 5,095.9
Finance And Held For Sale Receivables - Delinquency Status	Finance and Held for Sale Receivables – Delinquency Status (dollars in millions) Past Due 30–59 Days 60–89 Days 90 Days or Total Past Past Due Past Due Greater Due Current (1) PCI Loans (2) Total Finances Receivable September 30, 2015 Transportation & International Finance Aerospace $ - $ 17.1 $ 4.7 $ 21.8 $ 1,683.8 $ - $ 1,705.6 Rail - Maritime Finance - - - - - International Finance - Total TF - North American Banking Commercial Banking Equipment Finance - Commercial Real Estate - - Commercial Services - Consumer Banking - - - Total NAB Legacy Consumer Mortgages Single family residential mortgages Reverse mortgages - - - - Total LCM Non-Strategic Portfolios - Total $ 157.2 $ 68.4 $ 71.8 $ 297.4 $ 31,240.7 $ 2,843.1 $ 34,381.2 December 31, 2014 Transportation & International Finance Aerospace $ - $ - $ 0.1 $ 0.1 $ 1,796.4 $ - $ 1,796.5 Rail - Maritime Finance - - - - - International Finance - Total TF - North American Banking Commercial Banking - - Equipment Finance - Commercial Real Estate - - - - - Commercial Services - Total NAB - Non-Strategic Portfolios - Total $ 225.8 $ 52.0 $ 51.8 $ 329.6 $ 19,945.3 $ - $ 20,274.9 (1) Due to their nature, reverse mortgage loans are included in Current, as they do not have contractual payment s due at a specified time. (2) PCI loans are written down at acquisition to their fair value using an estimate of cash flows deemed to be collectible. Accordingly, such loans are no longer classified as past due or non-accrual even though they may be contractually past due as we expect to fully collect the new carrying values of these loans.
Finance Receivables On Non-accrual Status	September 30, 2015 December 31, 2014 Held for Investment Held for Sale Total Held for Investment Held for Sale Total Transportation & International Finance Aerospace $ 4.7 $ - $ 4.7 $ 0.1 $ - $ 0.1 International Finance - Total TF North American Banking Commercial Banking - Equipment Finance - Commercial Real Estate - - - - Total NAB - Legacy Consumer Mortgages Single family residential mortgages - - - Total LCM - - - Non-Strategic Portfolios - - Total $ 151.5 $ 63.2 $ 214.7 $ 123.4 $ 37.1 $ 160.5 Repossessed assets and OREO Total non-performing assets $ 342.6 $ 161.3 Commercial loans past due 90 days or more accruing Consumer loans past due 90 days or more accruing Total Accruing loans past due 90 days or more $ 10.6 $ 10.3
Schedule Of Loans In Process Of Foreclosure	Loans in Process of Foreclosure (dollars in millions) September 30, 2015 PCI $ 350.7 Non-PCI Loans in process of foreclosure $ 435.1 OREO $ 122.0
Impaired Loans	Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (3) September 30, 2015 (2) With no related allowance recorded: Transportation & International Finance International Finance $ - $ - $ - $ 6.5 North America Banking Commercial Banking - Equipment Finance - Commercial Real Estate - Commercial Services - With an allowance recorded: Transportation & International Finance Aerospace International Finance - - - North America Banking Commercial Banking Equipment Finance Total Impaired Loans (1) December 31, 2014 With no related allowance recorded: International Finance $ 10.2 $ 17.0 $ - $ 10.1 Commercial Banking - Equipment Finance - Commercial Services - Non-Strategic Portfolios - - - With an allowance recorded: Aerospace - - - International Finance Commercial Banking Equipment Finance - - - Commercial Services - - - Total Impaired Loans (3) Total Loans Impaired at Convenience Date (2) Total $ 58.0 $ 85.3 $ 12.9 $ 217.0 (1) Interest income recorded for the nine months ended September 30, 2015 and the year ended December 31, 2014 while the loans were impaired were $0.8 million and $10.1 million of which $0.7 million was interest recognized using cash-basis method of accounting. (2) Details of finance receivables that were identified as impaired at the Acquisition Date are presented under Loans Acquired with Deteriorated Credit Quality. (3) Average recorded investment for the nine months ended September 30, 2015 and year ended December 31, 2014.
Purchased Credit Impaired Loans With Deteriorated Credit Quality	Purchased Credit Impaired Loans at September 30, 2015 (dollars in millions) (1) Unpaid Principal Balance Carrying Value Allowance for Loan Losses North America Banking Commercial Banking $ 149.1 $ 101.0 $ - Commercial Real Estate - Legacy Consumer Mortgages Single family residential mortgages - Reverse mortgages $ 4,160.6 $ 2,843.1 $ 0.4 PCI loans from prior transactions were not significant and are not included.
Summary Of Commercial PCI Loans	September 30, 2015 (in thousands of dollars) Non-criticized Criticized Total Commercial Banking $ 21.7 $ 79.3 $ 101.0 Commercial Real Estate $ 53.7 $ 153.7 $ 207.4
PCI Loans At Acquistion Date	PCI Loans at Acquisition Date (dollars in millions) Consumer Commercial Total Contractually required payments, including interest Less: Non-accretable difference Cash flows expected to be collected(1) Less: Accretable yield Fair value of loans acquired at acquisition date Represents undiscounted expected principal and interest cash flows at acquisition .
Schedule Of Changes To The Accretable Yield For PCI Loans	Accretable (dollars in millions) Yield Balance at August 3, 2015 $ 1,201.8 Accretion into interest income Reclassification from nonaccretable difference for loans due to improving cash flows Disposals and Other Balance at September 30, 2015 $ 1,163.9
Estimated Future Advances To Reverse Mortgages	Estimated Future Advances to Reverse Mortgagors (dollars in millions) Year Ending: Remaining in 2015 $ 6.1 Years 2020 - 2024 Years 2025 - 2029 Years 2030 - 2034 Thereafter Total (1), (2) $ 107.3 (1) This table does not take into consideration cash inflows including payments from mortgagors or payoffs based on contractual terms . (2) This table includes the reverse mortgages supported by the Company as a result of the IndyMac loss-share agreements with the FDIC. As of September 30, 2015, the Company is responsible for funding up to a remaining $47 million of the total amount. Refer to the Indemnification Asset footnote for more information on this agreement and the Company’s responsibilities toward this reverse mortgage portfolio.

Allowance For Loan Losses (Tabl

Allowance For Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2015
Allowance For Loan Losses [Abstract]
Schedule Of Allowance For Loan Losses And Recorded Investment In Finance Receivables	Allowance for Loan Losses and Recorded Investment in Finance Receivables (dollars in millions) Transportation & International Finance North American Banking Legacy Consumer Mortgages Non-Strategic Portfolios Corporate and Other Total Quarter Ended September 30, 2015 Balance - June 30, 2015 $ 58.0 $ 292.9 $ - $ - $ - $ 350.9 Provision for credit losses - - Other (1) - - Gross charge-offs (2) - - Recoveries - - Balance - September 30, 2015 $ 31.8 $ 302.8 $ 0.4 $ - $ - $ 335.0 Nine Months Ended September 30, 2015 Balance - December 31, 2014 $ 46.8 $ 299.6 $ - $ - $ - $ 346.4 Provision for credit losses - - Other (1) - - Gross charge-offs (2) - - Recoveries - - Balance - September 30, 2015 $ 31.8 $ 302.8 $ 0.4 $ - $ - $ 335.0 Allowance balance at September 30, 2015 Loans individually evaluated for impairment $ 0.9 $ 17.4 $ - $ - $ - $ 18.3 Loans collectively evaluated for impairment - - - Loans acquired with deteriorated credit quality (3) - - - - Allowance for loan losses $ 31.8 $ 302.8 $ 0.4 $ - $ - $ 335.0 Other reserves (1) $ - $ 40.8 $ - $ - $ - $ 40.8 Finance receivables at September 30, 2015 Loans individually evaluated for impairment $ 4.7 $ 97.5 $ - $ - $ - $ 102.2 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - Ending balance $ 3,305.5 $ 23,501.3 $ 5,599.4 $ - $ - $ 32,406.2 Percent of loans to total loans Transportation & International Finance North American Banking Legacy Consumer Mortgages Non-Strategic Portfolios Corporate and Other Total Quarter Ended September 30, 2014 Balance - June 30, 2014 $ 39.7 $ 301.3 $ - $ - $ - $ 341.0 Provision for credit losses Other (1) - - Gross charge-offs (2) - - - Recoveries - - Balance - September 30, 2014 $ 46.5 $ 311.2 $ - $ - $ - $ 357.7 Nine Months Ended September 30, 2014 Balance - December 31, 2013 $ 46.7 $ 303.8 $ - $ 5.6 $ - $ 356.1 Provision for credit losses - Other (1) - - - Gross charge-offs (2) - - Recoveries - - Balance - September 30, 2014 $ 46.5 $ 311.2 $ - $ - $ - $ 357.7 Allowance balance at September 30, 2014 Loans individually evaluated for impairment $ 2.7 $ 22.8 $ - $ - $ - $ 25.5 Loans collectively evaluated for impairment - - - Loans acquired with deteriorated credit quality (3) - - - - Allowance for loan losses $ 46.5 $ 311.2 $ - $ - $ - $ 357.7 Other reserves (1) $ 0.3 $ 33.3 $ - $ 0.1 $ - $ 33.7 Finance receivables at September 30, 2014 Loans individually evaluated for impairment $ 23.1 $ 192.7 $ - $ - $ - $ 215.8 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - Ending balance $ 3,687.7 $ 16,098.0 $ - $ 0.1 $ - $ 19,785.8 Percent of allowance for loan losses to total allowance Allowance balance at December 31, 2014 Loans individually evaluated for impairment $ 1.0 $ 11.4 $ - $ - $ - $ 12.4 Loans collectively evaluated for impairment - - - Loans acquired with deteriorated credit quality (3) - - - - Allowance for loan losses $ 46.8 $ 299.6 $ - $ - $ - $ 346.4 Other reserves (1) $ 0.3 $ 35.1 $ - $ - $ - $ 35.4 Finance receivables at December 31, 2014 Loans individually evaluated for impairment $ 17.6 $ 40.6 $ - $ - $ - $ 58.2 Loans collectively evaluated for impairment - - Loans acquired with deteriorated credit quality (3) - - - - Ending balance $ 3,558.9 $ 15,936.0 $ - $ 0.1 $ - $ 19,495.0 Percentage of loans to total loans (1) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements, all of which is recorded in Other liabilities. “Other” also includes changes relating to loans that were charged off and reimbursed by the FDIC under the indemnification provided by the FDIC, sales and foreign currency translations. (2) Gross charge-offs of amounts specifically reserved in prior periods included $12 million and $17 million charged directly to the Allowance for loan losses for the quarter and year to date September 30, 2015, respectively. For the year to date period, $12.2 million related to NAB and $5 million to TIF. Gross charge-offs included $13 million charged directly to the Allowance for loan losses for the year ended December 31, 2014, all of which related to NAB. (3) Represents loans considered impaired as part of the OneWest transaction and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Indemnification Assets (Tables)

Indemnification Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Indemnification Assets [Line Items]
Estimated Fair Value And Range Of Fair Value Of Indemnification Assets Acquired	August 3, 2015 Range of Value (dollars in millions) Fair Value Low High IndyMac Transactions $ 480.0 $ - $ 4,596.8 La Jolla Transaction - $ 480.7 $ - $ 4,682.1
Carrying Value Of Recognized Indemnification Assets And Related Receivables/Payables	September 30, 2015 IndyMac La Jolla Transaction Transaction Total (dollars in millions) Loan indemnification (1) $ 385.9 $ 0.7 $ 386.6 Reverse mortgage indemnification - Agency claims indemnification - Total $ 464.3 $ 0.7 $ 465.0
Submission Of Qualifying Losses For Reimbursement From FDIC	Submission of Qualifying Losses for Reimbursement (dollars in millions) September 30, 2015 SFR Commercial Total Unpaid principal balance $ 103.9 $ ----- (1) $ 103.9 Cumulative losses incurred (2) Cumulative claims submissions (2) Cumulative reimbursement (1) Due to the expiration of the loss share agreement covering commercial loans in March 2015, the outstanding unpaid principal balance eligible for reimbursement is zero. The cumulative claims submissions are higher than the cumulative losses incurred due to recoveries in September 2015 that were not reflected in the claim submissions until the following month.
IndyMac Transaction [Member]
Indemnification Assets [Line Items]
Credit Losses On Single-family Residential Mortgage Loans (FDIC Indemnified)	Loss Threshold FDIC Loss CIT Loss Percentage Comments First Loss Tranche 0% 100% The first $2.551 billion (First Loss Tranche) of losses based on the unpaid principal balances as of the transaction date are borne entirely by the Company without reimbursement from FDIC. Under Stated Threshold 80% 20% Losses based on the unpaid principal balances as of the transaction date in excess of the First Loss Tranche but less than $3.826 billion (Stated Threshold) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company. Meets or Exceeds Stated Threshold 95% 5% Losses based on the unpaid principal balances as of the transaction date that equal or exceed $3.826 billion (Stated Threshold) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company.
Submission Of Qualifying Losses For Reimbursement From FDIC	Submission of Qualifying Losses for Reimbursement (dollars in millions) September 30, 2015 Unpaid principal balance $ 4,513.6 Cumulative losses incurred Cumulative claims Cumulative reimbursement
First Federal Transaction [Member]
Indemnification Assets [Line Items]
Credit Losses On Single-family Residential Mortgage Loans (FDIC Indemnified)	Loss Threshold FDIC Loss Percentage CIT Loss Percentage Comments First Loss Tranche 0% 100% The first $932 million (First Loss Tranche) of losses based on the unpaid principal balances as of the transaction date are borne entirely by the Company without reimbursement from FDIC. Under Stated Threshold 80% 20% Losses based on the unpaid principal balances as of the transaction date in excess of the First Loss Tranche but less than $1.532 billion (Stated Threshold) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company. Meets or Exceeds Stated Threshold 95% 5% Losses based on the unpaid principal balances as of the transaction date that equal or exceed $1.532 billion (Stated Threshold) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company.
Submission Of Qualifying Losses For Reimbursement From FDIC	Submission of Qualifying Losses for Reimbursement (dollars in millions) SFR Commercial Total Unpaid principal balance $ 1,508.4 $ ----- (1) $ 1,508.4 Cumulative losses incurred Cumulative claims Due to the expiration of the loss share agreement covering commercial loans in December 2014, the outstanding unpaid principal balance eligible for reimbursement is zero .
La Jolla Transaction [Member]
Indemnification Assets [Line Items]
Credit Losses On Single-family Residential Mortgage Loans (FDIC Indemnified)	FDIC Loss CIT Loss Loss Threshold Percentage Percentage Comments Under Stated Threshold 80% 20% Losses based on unpaid principal balance up to the Stated Threshold ($1.007 billion) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company. Meets or Exceeds Stated Threshold 95% 5% Losses based on unpaid principal balance at or in excess of the Stated Threshold ($1.007 billion) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Gain (Loss) on Investments [Line Items]
Schedule Of Investment Securities	Investment Securities (dollars in millions) September 30, December 31, 2015 2014 Available-for-sale securities Debt securities $ 3,001.3 $ 1,116.5 Equity securities Held-to-maturity securities Debt securities (1) Non-marketable investments (2) Total investment securities $ 3,618.8 $ 1,550.3 (1) Recorded at amortized cost. (2) Non-marketable investments include securities of the FRB and FHLB carried at cost of $263.8 million at September 30, 2015 and $5.3 million at December 31, 2014. The remaining non-marketable investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method, other investments carried at cost, which include qualified Community Reinvestment Act (CRA) investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment, totaling $28.7 million and $52.3 million in September 30, 2015 and December 31, 2014, respectively.
Schedule Of Interest And Dividend Income	Interest and Dividend Income (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Interest income - interest bearing deposits $ 4.5 $ 4.4 $ 11.9 $ 13.5 Interest income - investments / reverse repos Dividends - investments Total interest and dividends $ 8.4 $ 41.1 $ 25.6
Amortized Cost And Fair Value Of Securities Available-For-Sale	Securities AFS — Amortized Cost and Fair Value (dollars in millions) Gross Gross Amortized Unrealized Unrealized Fair September 30, 2015 Cost Gains Losses Value Debt securities AFS Mortgage-backed Securities U.S. government agency securities $ 1,147.5 $ 1.4 $ (0.1) $ 1,148.8 Non-agency securities U.S. Treasury securities - - Supranational and foreign government securities - - Total debt securities AFS Equity securities AFS Total securities AFS $ 3,025.2 $ 2.2 $ (11.8) $ 3,015.6 December 31, 2014 Debt securities AFS U.S. Treasury securities $ 200.0 $ - $ - $ 200.0 U.S. government agency securities - - Supranational and foreign government securities - - Total debt securities AFS - - Equity securities AFS Total securities AFS $ 1,130.5 $ 0.2 $ (0.2) $ 1,130.5
Gross Unrealized Losses And Estimated Fair Value Of Available-For-Sale Securities	Estimated Unrealized Losses (dollars in millions) September 30, 2015 Less than 12 months 12 months or greater Gross Gross Fair Unrealized Fair Unrealized Value Loss Value Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 176.6 $ (0.1) $ - $ - Non-agency securities - - Total debt securities AFS - - Equity securities AFS - Total securities available-for-sale $ 1,098.1 $ (11.8) $ - $ - December 31, 2014 Less than 12 months 12 months or greater Gross Gross Fair Unrealized Fair Unrealized Value Loss Value Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ - $ - $ - $ - Non-agency securities - - - - U.S. Treasury securities - - - - Supranational and foreign government securities - - - - Total debt securities AFS - - - - Equity securities AFS - - Total securities available-for-sale $ 0.2 $ (0.2) $ - $ -
Carrying Value And Fair Value Of Securities Held-To-Maturity	Debt Securities HTM — Carrying Value and Fair Value (dollars in millions) Gross Gross Carrying Unrealized Unrealized Fair Value Gains Losses Value September 30, 2015 Mortgage-backed securities U.S. government agency securities $ 153.3 $ 1.6 $ (2.1) $ 152.8 State and municipal Foreign government Corporate - foreign - Total debt securities held-to-maturity $ 310.7 $ 8.6 $ (2.5) $ 316.8 December 31, 2014 Mortgage-backed securities U.S. government agency securities $ 156.3 $ 2.5 $ (1.9) $ 156.9 State and municipal Foreign government - Corporate - foreign - Total debt securities held-to-maturity $ 352.3 $ 11.7 $ (3.7) $ 360.3
Available-For-Sale Securities [Member]
Gain (Loss) on Investments [Line Items]
Amortized Cost And Fair Value Of Debt Securities By Contractual Maturity Dates	Securities AFS - Amortized Cost and Fair Value Maturities (dollars in millions) September 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value Mortgage-backed securities - U.S. government agency securities Due within 1 year $ - $ - $ 904.2 $ 904.2 After 1 but within 5 years - - Due after 10 years - - Total Mortgage-backed securities - non agency securities After 5 but within 10 years $ 29.0 $ 28.5 $ - $ - Due after 10 years - - Total - - U.S. Treasury securities Due within 1 year $ 300.0 $ 300.0 $ 200.0 $ 200.0 Total Supranational and foreign government securities Due within 1 year $ 600.0 $ 600.0 $ 12.3 $ 12.3 Total Total debt securities available-for-sale $ 3,010.9 $ 3,001.3 $ 1,116.5 $ 1,116.5
Held-To-Maturity Securities [Member]
Gain (Loss) on Investments [Line Items]
Amortized Cost And Fair Value Of Debt Securities By Contractual Maturity Dates	Debt Securities HTM — Amortized Cost and Fair Value Maturities (dollars in millions) September 30, 2015 December 31, 2014 Amortized Fair Amortized Fair Cost Value Cost Value Mortgage-backed securities - U.S. government agency securities After 5 but within 10 years $ 1.3 $ 1.3 $ 1.3 $ 1.3 Due after 10 years Total State and municipal Due within 1 year $ 0.7 $ 0.7 $ 1.2 $ 1.2 After 1 but within 5 years After 5 but within 10 years - - Due after 10 years Total Foreign government Due within 1 year $ 14.0 $ 14.0 $ 10.8 $ 10.8 After 1 but within 5 years Total Corporate - Foreign securities Due within 1 year $ 0.9 $ 0.9 $ 0.9 $ 0.9 After 1 but within 5 years After 5 but within 10 years Total Total debt securities available-for-sale $ 310.7 $ 316.8 $ 352.3 $ 360.3 Investments with no stated maturities are included as contract ual maturities of greater than 10 years. Actual maturities may differ due to call or prepayment rights.
OneWest Bank [Member] | Mortgage-Backed Securities [Member]
Gain (Loss) on Investments [Line Items]
Schedule Of Acquired Purchased Credit-Impaired Securities Classified As Available-For-Sale	PCI Securities at Acquisition Date (dollars in millions) Total Contractually required payments, including interest $ 1,631.8 Less: Non-accretable differences Cash flows expected to be collected Less: Accretable yield Fair value of securities acquired $ 982.1 Represents undiscounted expected principal and interest cash flows at acquisition.
Changes In Accretable Yield For Purchased Credit-Impaired Securities	Changes in Accretable Yield (dollars in millions) Total Balance at August 3, 2015 $ 298.4 Accretion into interest income Balance at September 30, 2015 $ 290.2

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Other Assets [Abstract]
Components Of Other Assets	Other Assets (dollars in millions) September 30, 2015 December 31, 2014 Current and deferred federal and state tax assets $ 1,216.7 $ 483.5 Deposits on commercial aerospace equipment Tax credit investments and investments in unconsolidated subsidiaries Property, furniture and fixtures Fair value of derivative financial instruments Deferred debt costs and other deferred charges OREO and repossessed assets Tax receivables, other than income taxes Executive retirement plan and deferred compensation Other Total other assets $ 3,538.4 $ 2,106.7 (1) (2) (3) The increase is primarily due to the reversal of the deferred tax asset valuation ( $676 million) in the third quarter. See Note 18 – Income Taxes (4) Included in this balance are affordable housing investments that provide tax benefits to investors in the form of tax deductions from operating losses and tax credits. As a limited partner, the Company has no significant influence over the operations (5) Other includes items such as: investments in and receivables from non-consolidated entities, and other miscellaneous assets.

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2015
Deposits [Abstract]
Schedule Of Deposits	Deposits (dollars in millions) September 30, 2015 December 31, 2014 Deposits Outstanding $ 32,328.9 $ 15,849.8 Weighted average contractual interest rate (1) Weighted average remaining number of days to maturity (1) 891 days 1,293 days (1) Excludes deposit balances with no stated maturity. Nine Months Ended September 30, 2015 Daily average deposits $ 20,052.9 Maximum amount outstanding Weighted average contractual interest rate for the year
Schedule Of Rates And Maturities Of Deposits	Deposits – Rates and Maturities (dollars in millions) September 30, 2015 Amount Average Rate Deposits – no stated maturity Non-interest-bearing checking $ 966.6 Interest-bearing checking Money market Savings Other Total checking and savings deposits $ 14,388.7 Certificates of deposit, remaining contractual maturity: Within one year $ 7,633.2 One to two years Two to three years Three to four years Four to five years Over five years Total certificates of deposit $ 17,915.7 Premium / discount Purchase accounting adjustments Total Deposits $ 32,328.9
Schedule Of Certificates Of Deposits $100,000 Or More	Certificated of Deposits $100,000 or More (dollars in millions) September 30, 2015 December 31, 2014 U.S. certificates of deposits: Three months or less $ 1,390.5 $ 340.9 After three months through six months After six months through twelve months After twelve months Total U.S. Bank $ 9,530.4 $ 4,019.8 Non-U.S. certificates of deposits $ 24.0 $ 57.0

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Instrument [Line Items]
Schedule Of Long-Term Borrowings	Borrowings (dollars in millions) September 30, 2015 December 31, 2014 CIT Group Inc. Subsidiaries Total Total Senior Unsecured (1) $ 10,725.0 $ - $ 10,725.0 $ 11,932.4 FHLB advances - Secured borrowings - Total Borrowings $ 10,725.0 $ 8,595.5 $ 19,320.5 $ 18,455.8 (1) Senior Unsecured Notes at September 30, 2015 were comprised of $8,236.0 million unsecured notes, $2,450.0 million Series C Notes, and $39.0 million other unsecured debt. .
Schedule Of Contractual Maturities	Contractual Maturities – Borrowings as of September 30, 2015 (dollars in millions) Contractual 2016 2017 2018 2019 2020 Thereafter Maturities Senior unsecured notes $ - $ 2,992.0 $ 2,200.0 $ 2,750.0 $ 750.0 $ 2,051.4 $ 10,743.4 FHLB advances - - - Secured borrowings
Schedule Of FHLB Advances	FHLB Advances with Pledged Assets Summary (dollars in millions) September 30, 2015 September 30, 2014 FHLB Advances Pledged Assets FHLB Advances Pledged Assets Total $ 3,219.0 $ 6,583.8 $ 254.7 $ 309.6
Schedule Of Secured Borrowings And Pledged Assets	Secured Borrowings and Pledged Assets Summary (1) (dollars in millions) September 30, 2015 December 31, 2014 Secured Borrowing Pledged Assets Secured Borrowing Pledged Assets Rail (2) $ 1,087.2 $ 1,505.5 $ 1,179.7 $ 1,575.7 Aerospace (2) International Finance Subtotal - Transportation & International Finance Commercial Banking - - - Commercial Services Equipment Finance Commercial Real Estate - - - - Subtotal - North America Banking Total $ 5,376.5 $ 9,102.1 $ 6,268.7 $ 10,218.1 (1) As part of our liquidity management strategy, the Company pledges assets to secure financing transactions (which include securitizations), and for other purposes as required or permitted by law while CIT Bank, N.A. also pledges assets to secure borrowings from the FHLB and FRB. (2) At September 30, 2015, the GSI TRS related borrowings and pledged assets, respectively, of $1.2 billion and $1.8 billion were included in Transportation & International Finance. The GSI TRS is described in Note 10 — Derivative Financial Instruments.
Assets and Liabilities in Unconsolidated VIEs	Assets and Liabilities in Unconsolidated VIEs (dollars in millions) Unconsolidated VIEs Carrying Value September 30, 2015 Partnership Securities Investment Agency securities $ 151.5 $ - Non agency securities—Other servicer - Tax credit equity investments - Total Assets $ 1,104.0 $ 134.5 Commitments to tax credit investments - Total Liabilities $ - $ 20.3 Maximum loss exposure (1) $ 1,104.0 $ 134.5 (1) Maximum loss exposure to the uncosolidated VIEs excludes the liability for representations and warranties, corporate guarantees and also excludes servicing advances.
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Schedule Of Long-Term Borrowings	Senior Unsecured Notes (dollars in millions) Maturity Date Rate (%) Date of Issuance Par Value May 2017 May 2012 August 2017 August 2012 March 2018 March 2012 April 2018 * March 2011 February 2019 * February 2012 February 2019 February 2014 May 2020 May 2012 August 2022 August 2012 August 2023 August 2013 Weighted average rate and total $ 10,692.0 * Series C Unsecured Notes

Derivative Financial Instrume41

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Financial Instruments [Abstract]
Fair And Notional Values Of Derivative Financial Instruments	Fair and Notional Values of Derivative Financial Instruments (1) (dollars in millions) September 30, 2015 December 31, 2014 Notional Asset Fair Liability Notional Asset Fair Liability Qualifying Hedges Amount Value Fair Value Amount Value Fair Value Cross currency swaps - net investment hedges $ - $ - $ - $ - $ - $ - Foreign currency forward contracts – cash flow hedges - - - - . - Foreign currency forward contracts – net investment hedges Total Qualifying Hedges Non-Qualifying Hedges Cross currency swaps - - - - - - Interest rate swaps (2) Written options - - Purchased options - - Foreign currency forward contracts Total Return Swap (TRS) - - Equity Warrants - - Interest Rate Lock Commitments - - - - Credit derivatives - - - - Total Non-qualifying Hedges Total Hedges $ 14,073.4 $ 168.4 $ (130.2) $ 9,876.7 $ 168.4 $ (62.8) (1) Presented on a gross basis . (2) Fair value balances include accrued interest.
Offsetting Of Derivative Assets And Liabilities	Offsetting of Derivative Assets and Liabilities (dollars in millions) Gross Amounts not offset in the Consolidated Balance Sheet Gross Amount of Recognized Assets (Liabilities) Gross Amount Offset in the Consolidated Balance Sheet Net Amount Presented in the Consolidated Balance Sheet Derivative Financial Instruments (1) Cash Collateral Pledged/(Received) (1)(2) Net Amount September 30, 2015 Derivative assets $ 168.4 $ - $ 168.4 $ (20.2) $ (94.5) $ 53.7 Derivative liabilities - December 31, 2014 Derivative assets $ 168.4 $ - $ 168.4 $ (13.6) $ (137.3) $ 17.5 Derivative liabilities - (1) The Company’s derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts (“Derivative Financial Instruments”) with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreements meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreements, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default of one of the counterparties . (2) Collateral pledged or received is included in Other assets or Other liabilities, respectively.
Derivative Instrument Gains And Losses	. Derivative Instrument Gains and Losses (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, Derivative Instruments Gain / (Loss) Recognized 2015 2014 2015 2014 Qualifying Hedges Foreign currency forward contracts – cash flow hedges Other income - - - - Total Qualifying Hedges $ - $ - Non Qualifying Hedges Cross currency swaps Other income - - - Interest rate swaps Other income Interest rate options Other income Foreign currency forward contracts Other income Equity warrants Other income - TRS Other income Rate Locks Other income - - Risk Participation Agreements Other income - - Total Non-qualifying Hedges Total derivatives-income statement impact $ 70.3
Changes In AOCI Relating To Derivatives	Changes in AOCI Relating to Derivatives (dollars in millions) Contract Type Derivatives - effective portion reclassified from AOCI to income Hedge ineffectiveness recorded directly in income Total income statement impact Derivatives - effective portion recorded in OCI Total change in OCI for period Quarter Ended September 30, 2015 Foreign currency forward contracts - cash flow hedges $ - $ - $ - $ - Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - - - Total $ 4.3 $ 4.3 $ 44.0 $ 39.7 Quarter Ended September 30, 2014 Foreign currency forward contracts - cash flow hedges $ - $ - $ 0.2 $ 0.2 Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - - - Total $ (6.7) $ (6.7) $ 82.2 $ 88.9 Nine Months Ended September 30, 2015 Foreign currency forward contracts - cash flow hedges $ - $ - $ - $ - Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - - - Total $ 8.5 $ 8.5 $ 106.3 $ 97.8 Nine Months Ended September 30, 2014 Foreign currency forward contracts - cash flow hedges $ - $ - $ 0.2 $ 0.2 Foreign currency forward contracts - net investment hedges Cross currency swaps - net investment hedges - - Total $ (12.8) $ (12.8) $ 64.8 $ 77.6

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Other Liabilities [Abstract]
Components Of Other Liabilities	September 30, 2015 December 31, 2014 Equipment maintenance reserves $ 968.4 $ 960.4 Accrued expenses and accounts payable Current taxes payable and deferred taxes Security and other deposits Accrued interest payable Valuation adjustment relating to aerospace commitments Other (1) Total other liabilities $ 3,395.7 $ 2,888.8 (1) Other consists of other taxes, property tax liabilities and other miscellaneous liabilities. The September 30, 2015 balance includes approximately $300 million related to trade date accounting for an investment security purchased on the last day of the quarter, but the funds did not transfer until October.

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value [Abstract]
Assets And Liabilities Measured At Fair Value On A Recurring Basis	September 30, 2015 Total Level 1 Level 2 Level 3 Assets Debt Securities AFS $ 3,001.3 $ 300.0 $ 1,748.8 $ 952.5 Equity Securities AFS - - FDIC receivable - - Derivative assets at fair value -non-qualifying hedges (1) - - Derivative assets at fair value - qualifying hedges - - Total $ 3,238.2 $ 314.3 $ 1,917.2 $ 1,006.7 Liabilities Derivative liabilities at fair value - non-qualifying hedges (1) $ (128.8) $ - $ (71.7) $ (57.1) Derivative liabilities at fair value - qualifying hedges - - Consideration holdback liability FDIC True-up Liability - - Total $ (247.3) $ - $ (73.1) $ (174.2) December 31, 2014 Assets Debt Securities AFS $ 1,116.5 $ 212.3 $ 904.2 $ - Equity Securities AFS - - Derivative assets at fair value -non-qualifying hedges (1) - - Derivative assets at fair value - qualifying hedges - - Total $ 1,298.9 $ 226.3 $ 1,072.6 $ - Liabilities Derivative liabilities at fair value - non-qualifying hedges (1) $ (62.8) $ - $ (36.2) $ (26.6) Derivative liabilities at fair value - qualifying hedges - - - - Total $ (62.8) $ - $ (36.2) $ (26.6) (1) Derivative fair values include accrued interest
Quantitative Information About Level 3 Fair Value Measurements-Recurring	Quantitative Information about Level 3 Fair Value Measurements—Recurring (dollars in millions) (dollars in millions) Financial Instrument Estimated Fair Value Valuation Technique(s) Significant Unobservable Inputs Range of Inputs Weighted Average September 30, 2015 Assets Securities—AFS $ 952.5 Discounted cash flow Discount Rate 0.0% - 49.0% 6.2% Prepayment Rate 3.2% - 22.3% 9.9% Default Rate 0.0% - 9.8% 4.1% Loss Severity 0.1% - 83.3% 32.0% FDIC Receivable Discounted cash flow Discount Rate 9.5% - 15.0% 10.4% Prepayment Rate 2.0% - 14.0% 3.7% Default Rate 6.0% - 36.0% 10.8% Loss Severity 20.0% - 65.0% 31.7% Total Assets $ 1,006.7 Liabilities FDIC True-up liability $ (56.3) Discounted cash flow Discount Rate 4.0% - 4.0% 4.0% Consideration holdback liability Discounted cash flow Payment Probability 0% - 100% 53.8% Discount Rate 3% - 3% 3.0% Derivative liabilities - non qualifying Market Comparables (1) Total Liabilities $ (174.2) (1) The valuation of these derivatives is primarily related to the GSI facilities which is based on several factors using a discounted cash flow methodology, including a) funding costs for similar financings based on current market conditions; b) forecasted usage of long-dated facilities through the final maturity date in 2018; and c) forecasted amortization, due to principal payments on the underlying ABS, which impacts the amount of the unutilized portion.
Changes In Estimated Fair Value For Financial Assets And Liabilities Measured On Recurring Basis	Changes in Estimated Fair Value of Level 3 Financial Assets and Liabilities Measured on a Recurring Basis (dollars in millions) (dollars in millions) Securities-AFS FDIC Receivable Net Derivatives (1) FDIC True-up Liability Consideration holdback Liability December 31, 2014 - - - - Included in earnings - - Included in comprehensive income - - - - Purchases - Settlements - - - Balance as of September 30, 2015 (dollars in millions) Net Derivatives (1) December 31, 2013 Included in earnings Balance as of September 30, 2014 (1) Valuation of the derivatives related to the GSI facilities and written options on certain CIT Bank CDs.
Carrying Value Of Assets Measured At Fair Value On A Non-Recurring Basis	Carrying Value of Assets Measured at Fair Value on a Non-recurring Basis (dollars in millions) Fair Value Measurements at Reporting Date Using: Total Level 1 Level 2 Level 3 Total (Losses) Assets September 30, 2015 Assets held for sale $ 1,289.4 $ 1,289.4 $ (34.3) Other real estate owned - - Impaired loans - - Total $ 1,470.2 $ - $ - $ 1,470.2 $ (50.5) December 31, 2014 Assets held for sale $ 949.6 $ - $ - $ 949.6 $ (73.6) Impaired loans - - Total $ 962.8 $ - $ - $ 962.8 $ (78.5)
Summary Of Fair Value Option	September 30, 2015 (in millions of dollars) Estimated Fair Value Carrying Amount Aggregate Unpaid Principal Estimated Fair Value Carrying Amount Less Aggregate Unpaid FDIC Receivable $ 54.2 $ 213.0 $ (158.8)
Carrying And Estimated Fair Values Of Financial Instruments	Financial Instruments (dollars in millions) Estimated Fair Value Carrying September 30, 2015 Value Level 1 Level 2 Level 3 Total Financial Assets Cash and interest bearing deposits $ 8,259.9 $ 8,259.9 $ - $ - $ 8,259.9 Derivative assets at fair value - non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) Loans (excluding leases) - Securities purchased under agreements to resell - - Investment securities (1) Indemnification assets (2) - - Tax credit investments - - Other assets subject to fair value disclosure and unsecured counterparty receivables (3) - - Financial Liabilities Deposits (4) - - Derivative liabilities at fair value - non-qualifying hedges - Derivative liabilities at fair value - qualifying hedges - - Borrowings (4) - Commitment to affordable housing investments - - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (5) - - December 31, 2014 Financial Assets Cash and interest bearing deposits $ 7,119.7 $ 7,119.7 $ - $ - $ 7,119.7 Derivative assets at fair value - non-qualifying hedges - - Derivative assets at fair value - qualifying hedges - - Assets held for sale (excluding leases) - - Loans (excluding leases) (6) - Securities purchased under agreements to resell - - Investment securities Other assets subject to fair value disclosure and unsecured counterparty receivables (3) - - Financial Liabilities Deposits (4) - - Derivative liabilities at fair value - non-qualifying hedges - Borrowings (4) - Credit balances of factoring clients - - Other liabilities subject to fair value disclosure (5) - - (1) Level 3 estimated fair value includes debt securities AFS ( $952.5 million), non-marketable investments ( $292.5 million), and debt securities HTM ( $68.3 million). (2) The indemnification assets included in the above table does not include Agency claims indemnification ($67.7 million) andLoan indemnification ( $0.7) million, as they are not considered financial instruments. (3) Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as Level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities (4) Deposits and borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet. (5) Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3. (6) In preparing the interim financial statements for the quarter ended September 30, 2015, the Company discovered and corrected an immaterial error impacting the carrying value and estimated Level 3 fair value relating to the Loans (excluding leases) line item in the amount of $452.6 million; with an estimated fair value using Level 3 inputs of $478.7 million as of December 31, 2014.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity [Abstract]
Schedule Of Common Stock Activity	Issued Less Treasury Outstanding Common Stock – December 31, 2014 Common stock issuance - acquisition (1) - Restricted stock issued - Repurchase of common stock - Shares held to cover taxes on vesting restricted shares and other - Employee stock purchase plan participation - Common Stock – September 30, 2015 Excludes approximately 1.0 million of unvested RSUs.
Components Of Accumulated Other Comprehensive Income (Loss)	September 30, 2015 December 31, 2014 Gross Unrealized Income Taxes Net Unrealized Gross Unrealized Income Taxes Net Unrealized Foreign currency translation adjustments $ (75.3) $ (33.5) $ (108.8) $ (75.4) $ - $ (75.4) Changes in benefit plan net gain (loss) and prior service (cost)/credit Unrealized net gains (losses) on available for sale securities - - - Total accumulated other comprehensive loss $ (144.8) $ (29.5) $ (174.3) $ (134.1) $ 0.2 $ (133.9)
Changes In Accumulated Other Comprehensive Loss By Component	Changes in Accumulated Other Comprehensive Loss by Component (dollars in millions) Foreign currency translation adjustments Changes in benefit plan net gain (loss) and prior service (cost) credit Changes in fair values of derivatives qualifying as cash flow hedges Unrealized net gains (losses) on available for sale securities Total AOCI Balance as of December 31, 2014 $ (75.4) $ (58.5) $ - $ - $ (133.9) AOCI activity before reclassifications - Amounts reclassified from AOCI - - Net current period AOCI - Balance as of September 30, 2015 $ (108.8) $ (59.6) $ - $ (5.9) $ (174.3) Balance as of December 31, 2013 $ (49.4) $ (24.1) $ (0.2) $ 0.1 $ (73.6) AOCI activity before reclassifications - Amounts reclassified from AOCI - Net current period AOCI Balance as of September 30, 2014 $ (63.0) $ (19.1) $ - $ - $ (82.1)
Reclassifications Out Of Accumulated Other Comprehensive Income	Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Affected Income Statement line item Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Gross Amount Tax Net Amount Foreign currency translation adjustments gains (losses) $ 19.2 $ (0.4) $ 18.8 $ 4.9 $ - $ 4.9 $ 22.6 $ (0.4) $ 22.2 $ 7.3 $ - $ 7.3 Operating Expenses Changes in benefit plan net gain/(loss) and prior service (cost)/credit gains (losses) - - Operating Expenses Changes in fair value of derivatives qualifying as cash flow hedges gains (losses) - - - - - - - - - - - - Other Income Unrealized net gains (losses) on available for sale securities - - - - - - Other Income Total Reclassifications out of AOCI $ 19.9 $ (0.6) $ 19.3 $ 7.1 $ (0.2) $ 6.9 $ 23.5 $ (0.7) $ 22.8 $ 13.1 $ (0.3) $ 12.8

Regulatory Capital (Tables)

Regulatory Capital (Tables)	9 Months Ended
	Sep. 30, 2015
Regulatory Capital [Abstract]
Tier 1 Capital And Total Capital Components	Tier 1 Capital and Total Capital Components (1) (dollars in millions) CIT CIT Bank September 30, December 31, September 30, December 31, Tier 1 Capital 2015 2014 2015 2014 Total stockholders’ equity (2) $ 10,798.7 $ 9,068.9 $ 5,555.7 $ 2,716.4 Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interests Adjusted total equity Less: Goodwill (3) Disallowed deferred tax assets - - Disallowed intangible assets (3) Investment in certain subsidiaries NA NA - Other Tier 1 components (4) - - - Common Equity Tier 1 Capital Tier 1 Capital Tier 2 Capital Qualifying allowance for credit losses and other reserves (5) Less: Investment in certain subsidiaries NA NA - Other Tier 2 components (6) - - Total qualifying capital $ 9,245.5 $ 8,412.4 $ 5,091.6 $ 2,781.5 Risk-weighted assets $ 69,610.6 $ 55,480.9 $ 35,755.3 $ 19,552.3 Common Equity Tier 1 Capital (to risk-weighted assets): Actual NA NA Effective minimum ratios under Basel III guidelines (7) NA NA Tier 1 Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Total Capital (to risk-weighted assets): Actual Effective minimum ratios under Basel III and Basel I guidelines (7) Tier 1 Leverage Ratio: Actual Required minimum ratio for capital adequacy purposes (1) The September 30, 2015 presentation reflects the risk-based capital guidelines under Basel III, which became effective on January 1, 2015. The December 31, 2014 presentation reflects the risk-based capital guidelines under the then effective Basel I. (2) See Consolidated Balance Sheets for the components of Total stockholders’ equity. (3) Goodwill and disallowed intangible assets adjustments also reflect the portion included within assets held for sale. (4) Includes the Tier 1 capital charge for nonfinancial equity investments under Basel I. (5) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit, and deferred purchase agreements, all of which are recorded in Other Liabilities. (6) Banking organizations are permitted to include in Tier 2 Capital up to 45% of net unrealized pretax gains on available-for-sale equity securities with readily determinable fair values. (7) Required ratios under the fully phased-in Basel III Final Rule and include the post-transition minimum capital conservation buffer effective January 1, 2019.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Reconciliation Of Numerator And Denominator Of Basic EPS With Diluted EPS	Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 Earnings / (Loss) Income (loss) from continuing operations $ $ $ $ Income (loss) from discontinued operation Net income (loss) $ $ $ $ Weighted Average Common Shares Outstanding Basic shares outstanding Stock-based awards (1) Diluted shares outstanding Basic Earnings Per common share data Income (loss) from continuing operations $ $ $ $ Income (loss) from discontinued operation ($0.02) $ ($0.02) $ Basic income (loss) per common share $ $ $ $ Diluted Earnings Per common share data Income (loss) from continuing operations $ $ $ $ Income (loss) from discontinued operation ($0.02) $ ($0.02) $ Diluted income (loss) per common share $ $ $ $ (1) Represents the incremental shares from in-the-money non-qualified restricted stock awards, performance shares, and stock options. Weighted average restricted shares, performance shares and options that were out-of-the money and excluded from diluted earnings per share totaled 1.9 million and 1.7 million, for the quarter and nine months ended September 30, 2015.

Non-Interest Income (Tables)

Non-Interest Income (Tables)	9 Months Ended
	Sep. 30, 2015
Non-Interest Income [Abstract]
Schedule Of Non-Interest Income	Non-interest Income (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 Rental income on operating leases $ 539.3 $ 535.0 $ 1,601.6 $ 1,546.5 Other Income: Factoring commissions Gains on sales of leasing equipment Fee revenues Gains on investments Counterparty receivable accretion - - - Loss on OREO sales - - (Loss) gains on loan and portfolio sales Net losses on derivatives and foreign currency exchange Impairment on assets held for sale Other revenues Total other income Total non-interest income $ 578.5 $ 559.2 $ 1,790.7 $ 1,735.5

Non-Interest Expenses (Tables)

Non-Interest Expenses (Tables)	9 Months Ended
	Sep. 30, 2015
Non-Interest Expenses [Abstract]
Schedule Of Non-Interest Expenses	Non-interest Expense (dollars in millions) Quarters Ended September 30, Nine Months Ended September 30, 2015 2014 2015 Depreciation on operating lease equipment $ (159.1) $ (156.4) $ (473.7) $ (462.5) Maintenance and other operating lease expenses Operating expenses: Intangible assets amortization Provision for severance and facilities existing activities Advertising and marketing Net occupancy expense Technology Professional fees Compensation and benefits Other expenses Total operating expenses Loss on debt extinguishments - Total non-interest expenses $ (549.2) $ (437.4) $ (1,436.0) $ (1,303.0)

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments [Abstract]
Summary Of Commitments	September 30, 2015 December 31, Due to Expire 2014 Within After Total Total One Year One Year Outstanding Outstanding Financing Commitments Financing and leasing assets $ 1,674.7 $ 5,826.7 $ 7,501.4 $ 4,747.9 Letters of credit Standby letters of credit Other letters of credit Guarantees Deferred purchase agreements - Guarantees, acceptances and other recourse obligations - Purchase and Funding Commitments Aerospace manufacturer purchase commitments Rail and other manufacturer purchase commitments

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Business Segment Information [Abstract]
Segment Pre-Tax Income (Loss)	Segment Pre-tax Income (Loss) (dollars in millions) Corporate & Total TIF NAB LCM NSP Other CIT Quarter ended September 30, 2015 Interest income Interest expense Provision for credit losses - - Rental income on operating leases - - Other income Depreciation on operating lease equipment - - - Maintenance and other operating lease expenses - - - - Operating expenses Loss on debt extinguishments - - - - Income (loss) from continuing operations before (provision) benefit for income taxes $ 184.9 $ 35.8 $ 29.5 $ (21.0) $ (92.4) $ 136.8 Quarter ended September 30, 2014 Interest income $ 68.8 $ 215.8 $ - $ 20.4 $ 3.3 $ 308.3 Interest expense - Provision for credit losses - Rental income on operating leases - - Other income - Depreciation on operating lease equipment - - Maintenance and other operating lease expenses - - - - Operating expenses - Income (loss) from continuing operations before (provision) benefit for income taxes $ 161.5 $ 61.7 $ - $ (56.1) $ (50.4) $ 116.7 Nine Months Ended September 30, 2015 Interest income $ 212.1 $ 670.7 $ 62.8 $ 29.7 $ 27.2 $ 1,002.5 Interest expense Provision for credit losses - - Rental income on operating leases - - Other income Depreciation on operating lease equipment - - - Maintenance and other operating lease costs - - - - Operating expenses Loss on debt extinguishments - - - - Income (loss) from continuing operations before (provisions) benefit for income taxes $ 498.8 $ 119.4 $ 29.5 $ (44.2) $ (166.0) $ 437.5 Select Period End Balances Loans - - Credit balances of factoring clients - - - - Assets held for sale - Operating lease equipment, net - - - Nine Months Ended September 30, 2014 Interest income $ 217.7 $ 618.0 $ - $ 74.4 $ 10.2 $ 920.3 Interest expense - Provision for credit losses - Rental income on operating leases - - Other income - Depreciation on operating lease equipment - - Maintenance and other operating lease costs - - - - Operating expenses/ loss on debt extinguishment - Loss on debt extinguishments - - - - Income (loss) from continuing operations before (provisions) benefit for income taxes $ 427.3 $ 196.9 $ - $ (73.7) $ (92.1) $ 458.4 Select Period End Balances Loans $ 3,687.7 $ 16,098.0 $ - $ 0.1 $ - $ 19,785.8 Credit balances of factoring clients - - - - Assets held for sale - - Operating lease equipment, net - - -

Goodwill And Intangible Assets

Goodwill And Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill And Intangible Assets [Abstract]
Summary Of Goodwill	Goodwill (dollars in millions) TIF NAB LCM Total December 31, 2014 $ 252.0 $ 319.3 $ - $ 571.3 Additions - Other activity (1) - September 30, 2015 $ 246.8 $ 629.1 $ 259.2 $ 1,135.1 Includes adjustmen ts related to purchase accountin g , transfer to held for sale and foreig n exchange translation.
Summary Of Intangible Assets	Intangible Assets (dollars in millions) September 30, 2015 September 30, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Core deposit intangibles $ 126.3 $ (3.0) $ 123.3 $ - $ - $ - Trade names Operating lease rental intangibles Customer relationships Other - Total intangible assets $ 236.2 $ (34.9) $ 201.3 $ 57.8 $ (32.1) $ 25.7 The addition to intangible assets in 2015 reflects the OneWest Bank Transaction. The largest component related to the valuation of core deposits. Core deposit intangibles (“CDIs”) represent future benefits arising from non-contractual customer relationships (e.g., account relationships with the depositors) acquired from the purchase of demand deposit accounts, including interest and non-interest bearing checking accounts, money market and savings accounts. CDIs have a finite life and are amortized on a straight line basis over the estimated useful life of seven years. Amortization expense for the intangible assets is recorded in Operating expenses. In preparing the interim financial statements for the quarter ended September 30, 2015, the Company discovered and corrected an immaterial error impacting the accumulated amortization on the intangible assets which resulted in a decrease of $35 million in the intangible asset accumulated amortization as of December 31, 2014. In addition, we have excluded fully amortized intangible assets from all amounts. The following table presents the changes in intangible assets: Intangible Assets Rollforward (dollars in millions) Customer Relationships Core Deposit Intangibles Trade Names Operating Lease Rental Intangibles Other Total December 31, 2014 $ 6.8 $ - $ 6.9 $ 11.5 $ 0.5 $ 25.7 Additions - Amortization (1) Impairment - - - - - - Other (2) - - - September 30, 2015 $ 25.6 $ 123.3 $ 41.8 $ 7.6 $ 3.0 $ 201.3 (1) Includes amortization recorded in operating expenses and operating lease rental income. Includes foreign exchange translation and other miscellaneous adjustments.

Parent Company Financial Stat52

Parent Company Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2015
Parent Company Financial Statements [Abstract]
Condensed Parent Company Only Balance Sheet	Condensed Parent Company Only Balance Sheet (dollars in millions) September 30, December 31, 2015 2014 Assets: Cash and deposits $ 1,034.7 $ 1,432.6 Cash held at bank subsidiary Securities purchased under agreements to resell Investment securities Receivables from nonbank subsidiaries Receivables from bank subsidiaries Investment in nonbank subsidiaries Investment in bank subsidiaries Goodwill Other assets Total Assets $ 23,913.5 $ 25,540.1 Liabilities and Equity: Borrowings $ 10,725.0 $ 11,932.4 Liabilities to nonbank subsidiaries Other liabilities Total Liabilities $ 13,114.8 $ 16,471.2 Total Stockholders’ Equity Total Liabilities and Equity $ 23,913.5 $ 25,540.1
Condensed Parent Company Only Statement Of Operations And Comprehensive Income	Condensed Parent Company Only Statement of Operations and Comprehensive Income (dollars in millions ) Nine Months Ended September 30, 2015 2014 Income Interest income from nonbank subsidiaries $ 327.7 $ 445.5 Interest and dividends on interest bearing deposits and investments Dividends from bank subsidiaries Other income from subsidiaries Other income Total income Expenses Interest expense Interest expense on liabilities to subsidiaries Other expenses Total expenses Income (loss) before income taxes and equity in undistributed net income of subsidiaries Benefit for income taxes Income before equity in undistributed net income of subsidiaries Equity in undistributed net income of bank subsidiaries Equity in undistributed net income of nonbank subsidiaries Net income Other Comprehensive income (loss), net of tax Comprehensive income (loss) $ 871.7 $ 870.5
Condensed Parent Company Only Statements Of Cash Flows	Condensed Parent Company Only Statements of Cash Flows (dollars in millions Nine Months Ended September 30, 2015 2014 Cash Flows From Operating Activities: Net income $ 912.1 $ 879.0 Equity in undistributed earnings of subsidiaries Other operating activities, net Net cash flows used in operations Cash Flows From Investing Activities: Decrease (increase) in investments and advances to subsidiaries Acquisitions Decrease in Investment securities and securities purchased under agreements to resell Net cash flows provided by investing activities Cash Flows From Financing Activities: Proceeds from the issuance of term debt Repayments of term debt Repurchase of common stock Dividends paid Net change in liabilities to subsidiaries Net cash flows used in financing activities Net decrease in unrestricted cash and cash equivalents Unrestricted cash and cash equivalents, beginning of period Unrestricted cash and cash equivalents, end of period $ 1,060.1 $ 846.8

Business And Summary Of Signi53

Business And Summary Of Significant Accounting Policies (Details) $ in Thousands	Aug. 03, 2015store	Sep. 30, 2015USD ($)store	Sep. 30, 2014USD ($)
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Number of branches acquired | store		70
FDIC true-up liability		$ 56,300
Net depreciation, amortization and accretion		500,700	$ 729,200
Net gains on equipment, receivable and investment sales		(66,600)	(288,300)
(Decrease) in accrued liabilities and payables		11,000	(148,100)
Overstatement of net cash flows by operations			92,800
Overstatement of net cash flows used in investing activities			10,000
Understatement of net cash flows provided by financing activities			82,800
Increase (decrease) in unrestricted cash and cash equivalents		1,267,900	53,800
First Federal Transaction [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
FDIC true-up liability		0
IndyMac Transaction [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
FDIC true-up liability		$ 0
OneWest Bank [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Number of branches acquired | store	70
Secured interest of underlying cash flows		40.00%
Minimum [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Minimum amount of impaired finance receiables before being placed on nonaccrual status		$ 500
Minimum [Member] | Furniture and Fixtures [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Service lives		3 years
Minimum [Member] | Buildings [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Service lives		20 years
Maximum [Member] | Furniture and Fixtures [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Service lives		7 years
Maximum [Member] | Buildings [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Service lives		40 years
Immaterial Correction [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Increase (decrease) in unrestricted cash and cash equivalents			0
CIT Group Inc. [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Increase (decrease) in unrestricted cash and cash equivalents		$ (392,800)	$ (748,700)

Acquisition And Disposition A54

Acquisition And Disposition Activities (Narrative) (Details) $ in Millions	Aug. 03, 2015USD ($)storeshares	Aug. 01, 2014USD ($)	Jan. 31, 2014USD ($)item	Jan. 31, 2014USD ($)item	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)store	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of branches | store								70
Allowance for loan losses						$ 49.9	$ 38.2	$ 102.9	$ 85.1
Fair value of tax credit assets								114
Fair value of future funding commitments as a liability								19.3
Deposits					$ 32,328.9	32,328.9		32,328.9		$ 15,849.8
Time Deposits					17,915.7	17,915.7		17,915.7
Net finance revenue						686	554.1	1,873.5	1,761.4
Income (loss) before provision/(benefit) for income taxes						136.8	116.7	437.5	458.4
Goodwill					1,135.1	1,135.1		1,135.1		571.3
Student Loan portfolio assets held for sale											$ 3,400
Idemnification receivable					67.7	$ 67.7		$ 67.7
PCI Loans [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Mortgage-backed securities acquired	$ 982
Minimum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								4.40%
Minimum [Member] | Single-family Residential Portfolio (SFR) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								4.60%
Minimum [Member] | Non Single-family Residential Portfolio (Non SFR) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								5.10%
Minimum [Member] | Jumbo Mortgages Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								3.30%
Minimum [Member] | Commercial Real Estate Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								4.20%
Minimum [Member] | Small Business Administration Loan Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								4.20%
Minimum [Member] | Commercial And Industrial Loans Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								5.30%
Maximum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								7.60%
Maximum [Member] | Single-family Residential Portfolio (SFR) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								12.10%
Maximum [Member] | Non Single-family Residential Portfolio (Non SFR) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								10.00%
Maximum [Member] | Jumbo Mortgages Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								4.20%
Maximum [Member] | Commercial Real Estate Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								5.00%
Maximum [Member] | Small Business Administration Loan Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								7.30%
Maximum [Member] | Repurchased GNMA Loans Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								0.90%
Maximum [Member] | Reverse Mortgages Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								10.50%
Maximum [Member] | Commercial And Industrial Loans Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								8.40%
Nacco [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration amount			$ 250	$ 250
Percentage of outstanding shares acquired			100.00%	100.00%
Purchase price			$ 250	$ 250
Goodwill			77	77
Operating lease equipment acquired			650	650
Secured debt assumed			$ 375	$ 375
Number of railcars | item			9,500	9,500
Direct Capital [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration amount		$ 230
Assets acquired		$ 540
Percentage of outstanding shares acquired		100.00%
Purchase price		$ 230
Goodwill		170
Secured debt assumed		487
Intangible assets recorded		$ 12
IMB Holdco LLC [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash for expenses	2
OneWest Bank [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration amount	3,391.6
Cash consideration paid	1,900
Amount of cash held retained for potential liabilities	$ 116
Number of branches | store	70
Allowance for loan losses	$ 0
Cash and cash equivalents including cash on deposit	4,411.6
Mortgage-backed securities acquired	1,297.3
Unpaid principal balance	15.8
Fair value	13.6
Assets acquired	21,800
Liabilities assumed	18,400
Allowance for acquisition	0
Indemnification assets per acquisition date fair value	480.7
Separate liability due to FDIC at fair value	56.3
Other assets	676.6
Purchase accounting adjustment premium								$ 29
Smaller investments in film production and renewable energy	21
Other assets of OREO, net book value	132.4
Property plant and equipment, fair value, acquisiiton	61.4
Premium valuation	23.6
Receivables, fair value	13.6
Deposits	14,533.3
Deposits, with no stated maturies	8,327.6
Time Deposits	6,205.7
Mortage servicing rights acquired, fair value	10
Net finance revenue					134
Income (loss) before provision/(benefit) for income taxes					$ 49
Adjustments to remove fair value adjustments on loan balances	4,400
Adjustments to remove fair value adjusments of borrowings and record interest expense	$ 500
Income tax benefit								647	375	1,022
Acquisition and integration costs								$ 41	5
Percentage of outstanding shares acquired	100.00%
Purchase price	$ 3,391.6
Goodwill	598
Intangible assets recorded	185.9
Borrowings	2,970.3
OneWest Bank [Member] | FDIC Receivable [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value	$ 54.8
Secured interest in FDIC receivable	40.00%
Receivables, fair value	$ 54.8
OneWest Bank [Member] | Single-family Residential Portfolio (SFR) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	6,200
Fair value	4,800
Receivables, fair value	4,800
OneWest Bank [Member] | Non Single-family Residential Portfolio (Non SFR) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	1,400
Fair value	1,200
Receivables, fair value	1,200
OneWest Bank [Member] | Jumbo Mortgages Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	1,400
Fair value	1,400
Receivables, fair value	1,400
OneWest Bank [Member] | Commercial Real Estate Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	2,000
Fair value	2,000
Receivables, fair value	2,000
OneWest Bank [Member] | Small Business Administration Loan Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	278
Fair value	278
Receivables, fair value	278
OneWest Bank [Member] | Repurchased GNMA Loans Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	78
Fair value	78
Receivables, fair value	78
OneWest Bank [Member] | Reverse Mortgages Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	1,100
Fair value	811
Number of assumptions for key terminal cash flow projections								2
Receivables, fair value	811
OneWest Bank [Member] | Commercial And Industrial Loans Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Unpaid principal balance	3,300
Fair value	3,100
Receivables, fair value	$ 3,100
OneWest Bank [Member] | Minimum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								4.00%
OneWest Bank [Member] | Maximum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								6.00%
OneWest Bank [Member] | Certificates Of Deposit [Member] | Minimum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								0.25%
OneWest Bank [Member] | Certificates Of Deposit [Member] | Maximum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate								1.38%
Federal Home Loan Bank Borrowings [Member] | OneWest Bank [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase accounting adjustment premium								$ 6.8
Federal Home Loan Bank Borrowings [Member] | OneWest Bank [Member] | Minimum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
FHLB discount rate					0.15%	0.15%		0.15%
Federal Home Loan Bank Borrowings [Member] | OneWest Bank [Member] | Maximum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
FHLB discount rate					0.89%	0.89%		0.89%
Student Loan Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Borrowings										3,200
Fresh start adjustment (FSA)										224
Debt included in repayment using portion of cash proceeds of FSA										800
Incremental pretax amount of indirect overhead expense in continuing operations							$ 2.2		$ 1.7
Assets and liabilities related to discontinued student loan business					$ 0	$ 0		$ 0		$ 0
Maximum estimable losses of contingent servicing-related liabilities					30.9	30.9		30.9
Idemnification receivable					67.7	67.7		67.7
Student Loan Business [Member] | OneWest Bank [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Student Loan portfolio assets held for sale					$ 463.9	$ 463.9		$ 463.9
Common Stock [Member] | OneWest Bank [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity shares paid | shares	30,900,000
Value of equity shares paid	$ 1,500
Restricted Stock Units (RSUs) [Member] | OneWest Bank [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity shares paid | shares	168,000
Value of equity shares paid	$ 8

Acquisition And Disposition A55

Acquisition And Disposition Activities (Schedule Of Recognized Identifiable Assets Acquired And Liabilities Assumed) (Details) - USD ($) $ in Millions	Aug. 03, 2015	Sep. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Indemnification assets	$ 480.7	$ 465
Deposits		(32,328.9)	$ (15,849.8)
Goodwill		$ 1,135.1	$ 571.3
OneWest Bank [Member]
Business Acquisition [Line Items]
Purchase price	3,391.6
Cash and interest bearing deposits	4,411.6
Investment securities	1,297.3
Assets held for sale	20.4
Loans HFI	13,598.3
Indemnification assets	480.7
Other assets	676.6
Assets of discontinued operations	524.4
Deposits	(14,533.3)
Borrowings	(2,970.3)
Other liabilities	(221.1)
Liabilities of discontinued operations	(676.9)
Total fair value of identifiable net assets	2,607.7
Intangible assets	185.9
Goodwill	$ 598

Acquisition And Disposition A56

Acquisition And Disposition Activities (Summary Of Key Valuation Input Assumptions By Major Product Type) (Details)	9 Months Ended
	Sep. 30, 2015
Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	4.40%
Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	7.60%
Single-family Residential Portfolio (SFR) [Member] | Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	4.60%
Single-family Residential Portfolio (SFR) [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	12.10%
Single-family Residential Portfolio (SFR) [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	6.90%
Non Single-family Residential Portfolio (Non SFR) [Member] | Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	5.10%
Severity Rate	36.60%
Prepayment Rate	1.00%
Default Rate	0.20%
Non Single-family Residential Portfolio (Non SFR) [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	10.00%
Severity Rate	60.90%
Prepayment Rate	6.00%
Default Rate	82.40%
Non Single-family Residential Portfolio (Non SFR) [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	6.00%
Severity Rate	45.80%
Prepayment Rate	3.40%
Default Rate	11.00%
Jumbo Mortgages Portfolio [Member] | Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	3.30%
Severity Rate	0.00%
Prepayment Rate	10.00%
Default Rate	0.00%
Jumbo Mortgages Portfolio [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	4.20%
Severity Rate	10.00%
Prepayment Rate	18.00%
Default Rate	0.20%
Jumbo Mortgages Portfolio [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	3.40%
Severity Rate	2.70%
Prepayment Rate	13.90%
Default Rate	0.00%
Commercial Real Estate Portfolio [Member] | Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	4.20%
Severity Rate	15.00%
Prepayment Rate	1.50%
Default Rate	0.60%
Commercial Real Estate Portfolio [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	5.00%
Severity Rate	35.00%
Prepayment Rate	6.00%
Default Rate	14.70%
Commercial Real Estate Portfolio [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	4.50%
Severity Rate	19.30%
Prepayment Rate	4.60%
Default Rate	1.40%
Small Business Administration Loan Portfolio [Member] | Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	4.20%
Severity Rate	25.00%
Prepayment Rate	2.00%
Default Rate	3.00%
Small Business Administration Loan Portfolio [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	7.30%
Prepayment Rate	5.00%
Default Rate	24.90%
Small Business Administration Loan Portfolio [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	5.10%
Severity Rate	25.00%
Prepayment Rate	4.90%
Default Rate	3.40%
Repurchased GNMA Loans Portfolio [Member] | Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Severity Rate	0.00%
Prepayment Rate	0.00%
Default Rate	0.00%
Repurchased GNMA Loans Portfolio [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	0.90%
Severity Rate	13.50%
Prepayment Rate	7.30%
Default Rate	8.80%
Repurchased GNMA Loans Portfolio [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	2.10%
Severity Rate	6.40%
Prepayment Rate	3.40%
Default Rate	4.20%
Reverse Mortgages Portfolio [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	10.50%
Reverse Mortgages Portfolio [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	10.50%
Commercial And Industrial Loans Portfolio [Member] | Minimum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	5.30%
Commercial And Industrial Loans Portfolio [Member] | Maximum [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	8.40%
Commercial And Industrial Loans Portfolio [Member] | Weighted Average [Member]
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Discount rate	6.00%

Acquisition And Disposition A57

Acquisition And Disposition Activities (Schedule Of Intangible Assets Acquired) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 185.9
Core Deposit Intangibles [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 126.3
Weighted Life	7 years
Amortization Method	Straight line
Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 36.4
Weighted Life	10 years
Amortization Method	Straight line
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 20.3
Weighted Life	10 years
Amortization Method	Accelerated
Other [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 2.9
Weighted Life	3 years
Amortization Method	Straight line

Acquisition And Disposition A58

Acquisition And Disposition Activities (Schedule Of Unaudited Pro Forma) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Acquisition And Disposition Activities [Abstract]
Net finance revenue	$ 2,348.6	$ 2,435.6
Net income	$ 476.8	$ 1,534

Acquisition And Disposition A59

Acquisition And Disposition Activities (Schedule Of Condensed Balance Sheet Discontinued Operations) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
HECM loans			$ 3,400
Assets of discontinued operations	$ 513.8
Liabilities of discontinued operations	671.9	$ 0
Net finance receivables of securitized balances	453.2
Net finance receivables awaiting securitization	10.7
OneWest Bank [Member] | Student Loan Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash & Cash Equivalents	0.4
HECM loans	463.9
Other assets	49.5
Assets of discontinued operations	513.8
Secured borrowings - HECM loans	454.1
Deposits	0.4
Other liabilities	217.4
Liabilities of discontinued operations	$ 671.9

Acquisition And Disposition A60

Acquisition And Disposition Activities (Schedule Of Condensed Statements of Operations Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Acquisition And Disposition Activities [Abstract]
Interest income	$ 2.2		$ 2.2	$ 27
Interest expense	(2.3)		(2.3)	(248.2)
Other income	6.1		6.1	(2.1)
Operating expenses	(11.8)		(11.8)	(3.5)
Loss from discontinued operation before provision (benefit) for income taxes	(5.8)		(5.8)	(226.8)
(Benefit) provision for income taxes	2.1	$ (0.5)	2.1	(2.5)
Loss from discontinued operation, net of taxes	3.7	0.5	3.7	229.3
Gain on sale of discontinued operations				282.8
Income (loss) from discontinued operation, net of taxes	(3.7)	$ (0.5)	(3.7)	$ 53.5
Salaries and benefits expense	4.4		4.4
Professional services expense	2.8		2.8
Other expenses	$ 4.6		$ 4.6
Tax rate for discontinued operations	36.50%		36.50%
Net cash flows used for operations			$ (1.4)
Net cash flows used for investing activities			$ 9.8

Loans (Narrative) (Details)

Loans (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)loan	Aug. 03, 2015USD ($)	Dec. 31, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accretable Yield	$ (1,163,900)		$ (1,163,900)	$ 1,201,800
Non-accretable difference				$ 3,194,500
Corrected error impacting financing leases and leverage leases	$ 452,600		452,600
Amount of reverse mortgages uninsured			$ 814,800
Percentage of TDRs non-accrual	86.00%		86.00%		75.00%
Allowance for loan losses for loans acquired with deteriorated credit quality	$ 400	$ 500	$ 400		$ 500
Recorded investment of TDRs	29,300		29,300		17,200
Commitments to lend additional funds to borrowers	1,400		$ 1,400		$ 800
Troubled debt restructuring related to modifications	17,300	1,000
Troubled debt restructurings that defaulted within one year	$ 400	100
Troubled debt restructuring, payment deferral rate	19.00%		19.00%		35.00%
Troubled debt restructuring, covenant relief rate, other	81.00%		81.00%		65.00%
Repurchase of reverse mortgage loans	$ 16,600
Repurchased reverse mortgages, balance amount	97,600		$ 97,600
Valuation allowance	690,000		690,000		$ 1,000,000
Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold at which impaired finance receivables that are placed on non-accrual status are subject to individual review	500,000		$ 500,000
Period threshold at which impaired finance receivables that are placed on non-accrual status are subject to individual review, days			90 days
Percent required of claim amount for loan service			98.00%
Reverse Mortgages Portfolio [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reverse mortgages	897,100		$ 897,100
Number of loans in portfolio | loan			2,000
Average borrower age in portfolio			82 years
Unpaid principal balance	1,123,800		$ 1,123,800
Accruing Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment of TDRs	4,700		4,700
Non-accruing Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment of TDRs	$ 34,900		$ 34,900
North American Banking [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of investments in Troubled Debt Restructurings ("TDR")	96.00%		96.00%		91.00%
Allowance for loan losses for loans acquired with deteriorated credit quality		$ 500			$ 500
Real Estate Mortgage Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Period threshold at which impaired finance receivables that are placed on non-accrual status are subject to individual review, days			120 days
Home Affordable Modification Program (HAMP) [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in trial modification period			$ 30,000
Second Lien Modification Program (2MP) [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in trial modification period			100
Proprietary Programs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in trial modification period			9,500
OneWest Bank [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Associated purchased accounting discount			29,000
Assets Held-For-Sale (AHFS) [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of reverse mortgage loans	$ 10,400
Valuation allowance	200		200
Assets Held-For-Investment (HFI) [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of reverse mortgage loans	6,200
Valuation allowance	96,400		$ 96,400
Associated purchased accounting discount	14,100
Ginnie Mae (GNMA) [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of reverse mortgage loans	$ 16,000

Loans (Schedule Of Finance Rece

Loans (Schedule Of Finance Receivables By Product) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Loans [Abstract]
Commercial Loans	$ 21,860.1	$ 14,850.8
Direct financing leases and leveraged leases	3,616.9	4,644.2
Total commercial	25,477	19,495
Consumer Loans	6,929.2
Total finance receivables	32,406.2	19,495
Finance receivables held for sale	1,975	779.9
Finance receivables and held for sale receivables	$ 34,381.2	$ 20,274.9

Loans (Summary Of Finance Recei

Loans (Summary Of Finance Receivables) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 32,406.2	$ 19,495	$ 19,785.8
Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,305.5	3,558.9	3,687.7
North American Banking [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	23,501.3	15,936	16,098
Legacy Consumer Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,599.4
Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		0.1	$ 0.1
Domestic [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	29,393.9	15,457.7
Domestic [Member] | Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	713	812.6
Domestic [Member] | North American Banking [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	23,090	14,645.1
Domestic [Member] | Legacy Consumer Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,590.9
Foreign [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,012.3	4,037.3
Foreign [Member] | Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,592.5	2,746.3
Foreign [Member] | North American Banking [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	411.3	1,290.9
Foreign [Member] | Legacy Consumer Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 8.5
Foreign [Member] | Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		$ 0.1

Loans (Components Of Net Invest

Loans (Components Of Net Investment In Finance Receivables) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Aug. 03, 2015	Dec. 31, 2014
Loans [Abstract]
Unearned income	$ (879.6)		$ (1,037.8)
Unamortized premiums/(discounts)	(25.4)		(22)
Accretable Yield	(1,163.9)	$ 1,201.8
Certain Loans Acquired in Transfer, Nonaccretable Difference		3,194.5
Non-accretable difference		$ 3,194.5
Net unamortized deferred costs and (fees)	$ 40		$ 48.5

Loans (Finance And Held-For-Sal

Loans (Finance And Held-For-Sale Receivables - By Risk Rating) (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 207,400
Commercial Banking [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	101,000
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	106,400
Transportation And International Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,244,100,000	$ 3,976,100,000
Transportation And International Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	3,884,000,000	3,716,100,000
Transportation And International Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	132,700,000	120,700,000
Transportation And International Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	175,300,000	102,100,000
Transportation And International Finance [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	52,100,000	37,200,000
Transportation And International Finance [Member] | Aerospace [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,705,600,000	1,796,500,000
Transportation And International Finance [Member] | Aerospace [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,575,400,000	1,742,000,000
Transportation And International Finance [Member] | Aerospace [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	71,500,000	11,400,000
Transportation And International Finance [Member] | Aerospace [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	54,000,000	43,000,000
Transportation And International Finance [Member] | Aerospace [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,700,000	100,000
Transportation And International Finance [Member] | Rail [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	129,100,000	130,000,000
Transportation And International Finance [Member] | Rail [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	126,000,000	127,500,000
Transportation And International Finance [Member] | Rail [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,200,000	1,400,000
Transportation And International Finance [Member] | Rail [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,900,000	1,100,000
Transportation And International Finance [Member] | Maritime Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,509,900,000	1,026,400,000
Transportation And International Finance [Member] | Maritime Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,440,900,000	1,026,400,000
Transportation And International Finance [Member] | Maritime Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	69,000,000
Transportation And International Finance [Member] | International Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	899,500,000	1,023,200,000
Transportation And International Finance [Member] | International Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	741,700,000	820,200,000
Transportation And International Finance [Member] | International Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	60,000,000	107,900,000
Transportation And International Finance [Member] | International Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	50,400,000	58,000,000
Transportation And International Finance [Member] | International Finance [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	47,400,000	37,100,000
North American Banking [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	23,102,800,000	15,958,800,000
North American Banking [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	20,657,500,000	14,104,200,000
North American Banking [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,393,700,000	1,254,200,000
North American Banking [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	687,900,000	499,500,000
North American Banking [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	156,300,000	100,900,000
North American Banking [Member] | PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	207,400,000
North American Banking [Member] | Commercial Banking [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	10,634,900,000	6,912,700,000
North American Banking [Member] | Commercial Banking [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	9,363,600,000	6,199,000,000
North American Banking [Member] | Commercial Banking [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	714,000,000	561,000,000
North American Banking [Member] | Commercial Banking [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	371,700,000	121,800,000
North American Banking [Member] | Commercial Banking [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	84,600,000	30,900,000
North American Banking [Member] | Commercial Banking [Member] | PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	101,000,000
North American Banking [Member] | Equipment Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,808,400,000	4,717,300,000
North American Banking [Member] | Equipment Finance [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,289,600,000	4,129,100,000
North American Banking [Member] | Equipment Finance [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	321,900,000	337,800,000
North American Banking [Member] | Equipment Finance [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	129,300,000	180,400,000
North American Banking [Member] | Equipment Finance [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	67,600,000	70,000,000
North American Banking [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	5,092,200,000	1,768,600,000
North American Banking [Member] | Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,921,100,000	1,692,000,000
North American Banking [Member] | Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	42,400,000	76,600,000
North American Banking [Member] | Commercial Real Estate [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	18,200,000
North American Banking [Member] | Commercial Real Estate [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,100,000
North American Banking [Member] | Commercial Real Estate [Member] | PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	106,400,000
North American Banking [Member] | Commercial Services [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,556,400,000	2,560,200,000
North American Banking [Member] | Commercial Services [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,072,300,000	2,084,100,000
North American Banking [Member] | Commercial Services [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	315,400,000	278,800,000
North American Banking [Member] | Commercial Services [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	168,700,000	197,300,000
North American Banking [Member] | Consumer Banking [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	10,900,000
North American Banking [Member] | Consumer Banking [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	10,900,000
Non-Strategic Portfolios [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	60,200,000	340,000,000
Non-Strategic Portfolios [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	53,400,000	288,700,000
Non-Strategic Portfolios [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,800,000	18,400,000
Non-Strategic Portfolios [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	500,000	10,500,000
Non-Strategic Portfolios [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,500,000	22,400,000
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	27,407,100,000	20,274,900,000
Commercial [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	24,594,900,000	18,109,000,000
Commercial [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,528,200,000	1,393,300,000
Commercial [Member] | Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	863,700,000	612,100,000
Commercial [Member] | Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	212,900,000	$ 160,500,000
Commercial [Member] | PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 207,400,000

Loans (Schedule Of Consumer Loa

Loans (Schedule Of Consumer Loan LTV Distributions) (Details)	Sep. 30, 2015USD ($)
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 207,400
Consumer Portfolio [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	6,929,200,000
Consumer Portfolio [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	525,900,000
Consumer Portfolio [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	717,000,000
Consumer Portfolio [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,176,900,000
Consumer Portfolio [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,501,600,000
Consumer Portfolio [Member] | N/A [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	7,800,000
Consumer Portfolio [Member] | Single Family Residential Mortgages [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	6,032,100,000
Consumer Portfolio [Member] | Single Family Residential Mortgages [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	484,500,000
Consumer Portfolio [Member] | Single Family Residential Mortgages [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	694,100,000
Consumer Portfolio [Member] | Single Family Residential Mortgages [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,099,900,000
Consumer Portfolio [Member] | Single Family Residential Mortgages [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	3,745,800,000
Consumer Portfolio [Member] | Single Family Residential Mortgages [Member] | N/A [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	7,800,000
Consumer Portfolio [Member] | Reverse Mortgages Portfolio [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	897,100,000
Consumer Portfolio [Member] | Reverse Mortgages Portfolio [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	41,400,000
Consumer Portfolio [Member] | Reverse Mortgages Portfolio [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	22,900,000
Consumer Portfolio [Member] | Reverse Mortgages Portfolio [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	77,000,000
Consumer Portfolio [Member] | Reverse Mortgages Portfolio [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	755,800,000
PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,498,600,000
PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	464,500,000
PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	671,800,000
PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	542,700,000
PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	819,600,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	54,800,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	18,300,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	14,400,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	11,400,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	10,700,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	82,300,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	39,200,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	18,000,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	12,900,000
PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	12,200,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,140,400,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,300,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	7,700,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	531,000,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Single Family Residential Mortgages [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,600,400,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Reverse Mortgages Portfolio [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	456,900,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Reverse Mortgages Portfolio [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	900,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Reverse Mortgages Portfolio [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,100,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Reverse Mortgages Portfolio [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	28,100,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Covered Loans [Member] | Reverse Mortgages Portfolio [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	425,800,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,338,300,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	400,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	200,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	14,800,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,315,100,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Single Family Residential Mortgages [Member] | N/A [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	7,800,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	357,900,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | Greater than 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,300,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | 101% - 125% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,800,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | 80% - 100% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	36,000,000
Non-PCI Loans [Member] | Consumer Portfolio [Member] | Non-covered Loans [Member] | Reverse Mortgages Portfolio [Member] | Less than 80% [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 317,800,000

Loans (Schedule Of Covered Loan

Loans (Schedule Of Covered Loans) (Details) - Legacy Consumer Mortgages [Member] $ in Millions	Sep. 30, 2015USD ($)
Covered Loans [Line Items]
LCM loans HFI at carrying value	$ 5,095.9
PCI Loans [Member]
Covered Loans [Line Items]
LCM loans HFI at carrying value	2,498.6
Non-PCI Loans [Member]
Covered Loans [Line Items]
LCM loans HFI at carrying value	$ 2,597.3

Loans (Schedule Of Finance Re68

Loans (Schedule Of Finance Receivables Delinquency Status) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	$ 157.2	$ 225.8
60-89 Days Past Due	68.4	52
90 Days or Greater	71.8	51.8
Total Past Due 30 Days Or Greater	297.4	329.6
Current	31,240.7	19,945.3
Total Finance Receivables	34,381.2	20,274.9
Transportation And International Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	18.9	49.1
60-89 Days Past Due	28.5	8.9
90 Days or Greater	31.4	25.9
Total Past Due 30 Days Or Greater	78.8	83.9
Current	4,165.3	3,892.2
Total Finance Receivables	4,244.1	3,976.1
North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	116.4	160.3
60-89 Days Past Due	38.2	36.2
90 Days or Greater	39.1	16.3
Total Past Due 30 Days Or Greater	193.7	212.8
Current	24,039.5	15,746
Total Finance Receivables	24,440.6	15,958.8
Legacy Consumer Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	20.6
60-89 Days Past Due	1.3
90 Days or Greater	0.8
Total Past Due 30 Days Or Greater	22.7
Current	2,977.9
Total Finance Receivables	5,636.3
Non-Strategic Portfolios [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	1.3	16.4
60-89 Days Past Due	0.4	6.9
90 Days or Greater	0.5	9.6
Total Past Due 30 Days Or Greater	2.2	32.9
Current	58	307.1
Total Finance Receivables	60.2	340
Aerospace [Member] | Transportation And International Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
60-89 Days Past Due	17.1
90 Days or Greater	4.7	0.1
Total Past Due 30 Days Or Greater	21.8	0.1
Current	1,683.8	1,796.4
Total Finance Receivables	1,705.6	1,796.5
Rail [Member] | Transportation And International Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	0.7	5.2
60-89 Days Past Due	1.3	1.9
90 Days or Greater	2.4	4.2
Total Past Due 30 Days Or Greater	4.4	11.3
Current	124.7	118.7
Total Finance Receivables	129.1	130
Maritime Finance [Member] | Transportation And International Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,509.9	1,026.4
Total Finance Receivables	1,509.9	1,026.4
International Finance [Member] | Transportation And International Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	18.2	43.9
60-89 Days Past Due	10.1	7
90 Days or Greater	24.3	21.6
Total Past Due 30 Days Or Greater	52.6	72.5
Current	846.9	950.7
Total Finance Receivables	899.5	1,023.2
Commercial Banking [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	0.9	4.4
60-89 Days Past Due	9.8
90 Days or Greater	13.6	0.5
Total Past Due 30 Days Or Greater	24.3	4.9
Current	10,522.5	6,907.8
Total Finance Receivables	10,647.8	6,912.7
Equipment Finance [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	72.8	93.7
60-89 Days Past Due	27.6	32.9
90 Days or Greater	22.2	14.9
Total Past Due 30 Days Or Greater	122.6	141.5
Current	4,685.8	4,575.8
Total Finance Receivables	4,808.4	4,717.3
Commercial Real Estate [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
90 Days or Greater	1.5
Total Past Due 30 Days Or Greater	1.5
Current	4,984.3	1,768.6
Total Finance Receivables	5,092.2	1,768.6
Commercial Services [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	42.7	62.2
60-89 Days Past Due	0.8	3.3
90 Days or Greater	1.4	0.9
Total Past Due 30 Days Or Greater	44.9	66.4
Current	2,511.5	2,493.8
Total Finance Receivables	2,556.4	$ 2,560.2
Consumer Banking [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
90 Days or Greater	0.4
Total Past Due 30 Days Or Greater	0.4
Current	1,335.4
Total Finance Receivables	1,335.8
Single Family Residential Mortgages [Member] | Legacy Consumer Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	20.6
60-89 Days Past Due	1.3
90 Days or Greater	0.8
Total Past Due 30 Days Or Greater	22.7
Current	2,147.4
Total Finance Receivables	4,723.5
Reverse Mortgages Portfolio [Member] | Legacy Consumer Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	830.5
Total Finance Receivables	912.8
PCI Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	2,843.1
PCI Loans [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	207.4
PCI Loans [Member] | Legacy Consumer Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	2,635.7
PCI Loans [Member] | Commercial Banking [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	101
PCI Loans [Member] | Commercial Real Estate [Member] | North American Banking [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	106.4
PCI Loans [Member] | Single Family Residential Mortgages [Member] | Legacy Consumer Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	2,553.4
PCI Loans [Member] | Reverse Mortgages Portfolio [Member] | Legacy Consumer Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	$ 82.3

Loans (Finance Receivables On N

Loans (Finance Receivables On Non-accrual Status) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$ 214.7	$ 160.5
Repossessed assets and OREO	127.9	0.8
Total non-performing assets	342.6	161.3
Commercial loans past due 90 days or more accruing	9.8	10.3
Consumer loans past due 90 days or more accruing	0.8
Total Accruing loans past due 90 days or more	10.6	10.3
Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	151.5	123.4
Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	63.2	37.1
Transportation And International Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	52.1	37.2
Transportation And International Finance [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.7	22.5
Transportation And International Finance [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	47.4	14.7
Transportation And International Finance [Member] | Aerospace [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.7	0.1
Transportation And International Finance [Member] | Aerospace [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.7	0.1
Transportation And International Finance [Member] | International Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	47.4	37.1
Transportation And International Finance [Member] | International Finance [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans		22.4
Transportation And International Finance [Member] | International Finance [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	47.4	14.7
North American Banking [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	156.3	100.9
North American Banking [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	145.4	100.9
North American Banking [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	10.9
North American Banking [Member] | Commercial Banking [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	84.6	30.9
North American Banking [Member] | Commercial Banking [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	83.1	30.9
North American Banking [Member] | Commercial Banking [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	1.5
North American Banking [Member] | Equipment Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	67.6	70
North American Banking [Member] | Equipment Finance [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	58.2	70
North American Banking [Member] | Equipment Finance [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	9.4
North American Banking [Member] | Commercial Real Estate [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.1
North American Banking [Member] | Commercial Real Estate [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.1
Legacy Consumer Mortgages [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	1.8
Legacy Consumer Mortgages [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	1.4
Legacy Consumer Mortgages [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0.4
Legacy Consumer Mortgages [Member] | Single Family Residential Mortgages [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	1.8
Legacy Consumer Mortgages [Member] | Single Family Residential Mortgages [Member] | Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	1.4
Legacy Consumer Mortgages [Member] | Single Family Residential Mortgages [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0.4
Non-Strategic Portfolios [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	4.5	22.4
Non-Strategic Portfolios [Member] | Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$ 4.5	$ 22.4

Loans (Schedule Of Loans In Pro

Loans (Schedule Of Loans In Process Of Foreclosure) (Details) $ in Millions	Sep. 30, 2015USD ($)
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure, amount	$ 435.1
PCI Loans [Member]
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure, amount	350.7
Non-PCI Loans [Member]
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure, amount	84.4
OREO [Member]
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure, amount	$ 122

Loans (Impaired Loans) (Details

Loans (Impaired Loans) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment		$ 58
Unpaid Principal Balance	$ 129.6	85.3
Related Allowance		12.9
Average Recorded Investment		217
Interest income recorded		10.1
Interest income recognized using cash basis method		0.7
Impaired Loans [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	102.2	56.8
Unpaid Principal Balance	129.6	69.5
Related Allowance	18.3	12.4
Average Recorded Investment	76.6	190.6
Total Loans Impaired At Convenience Date [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment		1.2
Unpaid Principal Balance		15.8
Related Allowance		0.5
Average Recorded Investment		26.4
Non-Strategic Portfolios [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		3.4
Aerospace [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		9
Aerospace [Member] | Transportation And International Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	4.7
Unpaid Principal Balance	4.7
Related Allowance	0.9
Average Recorded Investment	2.4
International Finance [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment		10.2
Unpaid Principal Balance		17
Average Recorded Investment		10.1
International Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment		6
Unpaid Principal Balance		6
Related Allowance		1
Average Recorded Investment		3.4
International Finance [Member] | Transportation And International Finance [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	6.5
International Finance [Member] | Transportation And International Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment	9.1
Commercial Banking [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment		1.2
Unpaid Principal Balance		1.2
Average Recorded Investment		104.9
Commercial Banking [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment		29.6
Unpaid Principal Balance		34.3
Related Allowance		11.4
Average Recorded Investment		43.5
Commercial Banking [Member] | North American Banking [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	14.8
Unpaid Principal Balance	18.4
Average Recorded Investment	4.3
Commercial Banking [Member] | North American Banking [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	65.1
Unpaid Principal Balance	84
Related Allowance	14.4
Average Recorded Investment	40.8
Equipment Finance [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment		5.6
Unpaid Principal Balance		6.8
Average Recorded Investment		5.8
Equipment Finance [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		0.8
Equipment Finance [Member] | North American Banking [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	2.7
Unpaid Principal Balance	5.5
Average Recorded Investment	4.4
Equipment Finance [Member] | North American Banking [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	7.6
Unpaid Principal Balance	9.7
Related Allowance	3
Average Recorded Investment	4.3
Commercial Real Estate [Member] | North American Banking [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	3.3
Unpaid Principal Balance	3.3
Average Recorded Investment	0.8
Commercial Services [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment		4.2
Unpaid Principal Balance		4.2
Average Recorded Investment		6.9
Commercial Services [Member] | With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		$ 2.8
Commercial Services [Member] | North American Banking [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	4
Unpaid Principal Balance	4
Average Recorded Investment	$ 4

Loans (Schedule Of Purchase Cre

Loans (Schedule Of Purchase Credit Impaired Loans) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	$ 129.6	$ 85.3
Allowance for Loan Losses		$ 12.9
Deteriorated Credit Quality [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	4,160.6
Carrying Value	2,843.1
Allowance for Loan Losses	0.4
North American Banking [Member] | Deteriorated Credit Quality [Member] | Commercial Banking [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	149.1
Carrying Value	101
North American Banking [Member] | Deteriorated Credit Quality [Member] | Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	184.7
Carrying Value	106.4
Legacy Consumer Mortgages [Member] | Deteriorated Credit Quality [Member] | Single Family Residential Mortgages [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	3,730.4
Carrying Value	2,553.4
Legacy Consumer Mortgages [Member] | Deteriorated Credit Quality [Member] | Reverse Mortgages Portfolio [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	96.4
Carrying Value	82.3
Allowance for Loan Losses	$ 0.4

Loans (Summary Of Commercial PC

Loans (Summary Of Commercial PCI Loans By Credit Quality) (Details)	Sep. 30, 2015USD ($)
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 207,400
Non-Criticized [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	53,700
Criticized [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	153,700
Commercial Banking [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	101,000
Commercial Banking [Member] | Non-Criticized [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	21,700
Commercial Banking [Member] | Criticized [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	79,300
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	106,400
Commercial Real Estate [Member] | Non-Criticized [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	32,000
Commercial Real Estate [Member] | Criticized [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$ 74,400

Loans (Schedule Of PCI Loans Ac

Loans (Schedule Of PCI Loans Acquired) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Aug. 03, 2015
PCI Loans Acquired [Line Items]
Contractually required payments, including interest		$ 7,313.6
Less: Non-accretable difference		(3,194.5)
Cash flows expected to be collected		4,119.1
Less: Accretable yield	$ 1,163.9	(1,201.8)
Fair value of loans acquired		2,917.3
Consumer Loan [Member]
PCI Loans Acquired [Line Items]
Contractually required payments, including interest		6,880.5
Less: Non-accretable difference		(3,005.7)
Cash flows expected to be collected		3,874.8
Less: Accretable yield		(1,170.1)
Fair value of loans acquired		2,704.7
Commercial Loan [Member]
PCI Loans Acquired [Line Items]
Contractually required payments, including interest		433.1
Less: Non-accretable difference		(188.8)
Cash flows expected to be collected		244.3
Less: Accretable yield		(31.7)
Fair value of loans acquired		$ 212.6

Loans (Schedule Of Changes In A

Loans (Schedule Of Changes In Accretable Yield) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2015USD ($)
Loans [Abstract]
Beginning Balance	$ 1,201.8
Accretion into interest income	(32.1)
Reclassfication from nonaccretable difference for loans due to improving cash flows	0.1
Disposals and Other	(5.9)
Ending Balance	$ 1,163.9

Loans (Summary Of Estimated Fut

Loans (Summary Of Estimated Future Advances To Reverse Mortgages) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Summary Of Estimated Future Advances To Reverse Mortgages [Line Items]
FDIC required funding amount of reverse mortgages	$ 47
Reverse Mortgages Portfolio [Member]
Summary Of Estimated Future Advances To Reverse Mortgages [Line Items]
Remaining in 2015	6.1
2,016	21.4
2,017	17.2
2,018	13.8
2,019	10.9
Years 2020 - 2024	28.1
Years 2025 - 2029	7.6
Years 2030 - 2034	1.8
Thereafter	0.4
Total	$ 107.3

Allowance For Loan Losses (Sche

Allowance For Loan Losses (Schedule Of Allowance For Loan Losses And Recorded Investment In Finance Receivables) (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 350,900,000	$ 341,000,000	$ 346,400,000	$ 356,100,000	$ 356,100,000
Provision for credit losses	49,900,000	38,200,000	102,900,000	85,100,000
Other	(4,500,000)	(2,300,000)	(8,600,000)	(7,500,000)
Gross charge-offs	(67,400,000)	(25,200,000)	(128,200,000)	(98,700,000)
Recoveries	6,100,000	6,000,000	22,500,000	22,700,000
Allowance balance - end of period	335,000,000	357,700,000	335,000,000	357,700,000	346,400,000
Allowance balance: Loans individually evaluated for impairment	18,300,000	25,500,000	18,300,000	25,500,000	12,400,000
Allowance balance: Loans collectively evaluated for impairment	316,300,000	331,700,000	316,300,000	331,700,000	333,500,000
Loans acquired with deteriorated credit quality--Allowance	400,000	500,000	400,000	500,000	500,000
Allowance for loan losses			(335,000,000)	357,700,000	346,400,000
Other reserves	(40,800,000)	33,700,000	(40,800,000)	33,700,000	35,400,000
Finance receivables: Loans individually evaluated for impairment	102,200,000	215,800,000	102,200,000	215,800,000	58,200,000
Finance receivables: Loans collectively evaluated for impairment	29,460,900,000	19,568,800,000	29,460,900,000	19,568,800,000	19,435,600,000
Finance receivables: Loans acquired with deteriorated credit quality	2,843,100,000	1,200,000	2,843,100,000	1,200,000	1,200,000
Ending balance	$ 32,406,200,000	$ 19,785,800,000	$ 32,406,200,000	$ 19,785,800,000	$ 19,495,000,000
Percent of loans to total allowances	100.00%	100.00%	100.00%	100.00%	100.00%
Transfer of loans to held for sale			$ 2,030,000,000	$ 1,329,600,000
Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 58,000,000	$ 39,700,000	46,800,000	46,700,000	$ 46,700,000
Provision for credit losses	1,500,000	9,100,000	11,700,000	29,800,000
Other	(500,000)	1,600,000	(700,000)
Gross charge-offs	(28,300,000)	(4,500,000)	(34,400,000)	(34,700,000)
Recoveries	1,100,000	600,000	8,400,000	4,700,000
Allowance balance - end of period	31,800,000	46,500,000	31,800,000	46,500,000	46,800,000
Allowance balance: Loans individually evaluated for impairment	900,000	2,700,000	900,000	2,700,000	1,000,000
Allowance balance: Loans collectively evaluated for impairment	30,900,000	43,800,000	30,900,000	43,800,000	45,800,000
Allowance for loan losses			(31,800,000)	46,500,000	46,800,000
Other reserves		300,000		300,000	300,000
Finance receivables: Loans individually evaluated for impairment	4,700,000	23,100,000	4,700,000	23,100,000	17,600,000
Finance receivables: Loans collectively evaluated for impairment	3,300,800,000	3,664,600,000	3,300,800,000	3,664,600,000	3,541,300,000
Ending balance	$ 3,305,500,000	$ 3,687,700,000	$ 3,305,500,000	$ 3,687,700,000	$ 3,558,900,000
Percent of loans to total allowances	10.20%	18.60%	10.20%	18.60%	18.30%
North American Banking [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 292,900,000	$ 301,300,000	$ 299,600,000	$ 303,800,000	$ 303,800,000
Provision for credit losses	46,900,000	29,700,000	89,700,000	55,500,000
Other	(4,100,000)	(3,800,000)	(8,000,000)	(7,300,000)
Gross charge-offs	(37,600,000)	(20,700,000)	(92,300,000)	(56,500,000)
Recoveries	4,700,000	4,700,000	13,800,000	15,700,000
Allowance balance - end of period	302,800,000	311,200,000	302,800,000	311,200,000	299,600,000
Allowance balance: Loans individually evaluated for impairment	17,400,000	22,800,000	17,400,000	22,800,000	11,400,000
Allowance balance: Loans collectively evaluated for impairment	285,400,000	287,900,000	285,400,000	287,900,000	287,700,000
Loans acquired with deteriorated credit quality--Allowance		500,000		500,000	500,000
Allowance for loan losses			(302,800,000)	311,200,000	299,600,000
Other reserves	(40,800,000)	33,300,000	(40,800,000)	33,300,000	35,100,000
Finance receivables: Loans individually evaluated for impairment	97,500,000	192,700,000	97,500,000	192,700,000	40,600,000
Finance receivables: Loans collectively evaluated for impairment	23,196,400,000	15,904,100,000	23,196,400,000	15,904,100,000	15,894,200,000
Finance receivables: Loans acquired with deteriorated credit quality	207,400,000	1,200,000	207,400,000	1,200,000	1,200,000
Ending balance	$ 23,501,300,000	$ 16,098,000,000	$ 23,501,300,000	$ 16,098,000,000	$ 15,936,000,000
Percent of loans to total allowances	72.50%	81.40%	72.50%	81.40%	81.70%
Legacy Consumer Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for credit losses	$ 1,500,000	$ 0	$ 1,500,000
Other	100,000		100,000
Gross charge-offs	(1,500,000)		(1,500,000)
Recoveries	300,000		300,000
Allowance balance - end of period	400,000		400,000
Loans acquired with deteriorated credit quality--Allowance	400,000		400,000
Allowance for loan losses			(400,000)
Finance receivables: Loans collectively evaluated for impairment	2,963,700,000		2,963,700,000
Finance receivables: Loans acquired with deteriorated credit quality	2,635,700,000		2,635,700,000
Ending balance	$ 5,599,400,000		$ 5,599,400,000
Percent of loans to total allowances	17.30%	0.00%	17.30%	0.00%	0.00%
Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance				$ 5,600,000	$ 5,600,000
Provision for credit losses		$ (700,000)		(400,000)
Gross charge-offs				(7,500,000)
Recoveries		700,000		2,300,000
Other reserves		100,000		100,000
Finance receivables: Loans collectively evaluated for impairment		100,000		100,000	100,000
Ending balance		$ 100,000		$ 100,000	$ 100,000
Percent of loans to total allowances	0.00%	0.00%	0.00%	0.00%	0.00%
Corporate And Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for credit losses		$ 100,000		$ 200,000
Other		$ (100,000)		$ (200,000)
Percent of loans to total allowances	0.00%	0.00%	0.00%	0.00%	0.00%

Indemnification Assets (Narrati

Indemnification Assets (Narrative) (Details) $ in Millions	Sep. 30, 2015USD ($)	Aug. 02, 2015USD ($)	Sep. 30, 2015USD ($)claim	Sep. 30, 2015USD ($)claimsegment	Aug. 03, 2015USD ($)
Indemnification Assets [Line Items]
Number of days before reimbursement approval by FDIC				60 days
Fair value of indemnification assets	$ 393		$ 393	$ 393
Net payable to FDIC	17.4		17.4	$ 17.4
Excess losses reimbursed by FDIC, percent				80.00%
FDIC Indemnification Asset	465		465	$ 465	$ 480.7
Advance on reverse mortgage loan	152.7
Cumulative loss submissions and reimbursements	1.8		$ 1.8	$ 1.8
Number of years FDIC indemnifies for claims from March 2009				2 years
Number of submitted claims | claim			0	0
Amount reinbursed by FDIC		$ 5.7
Threshold of reimbused cumulative losses since acquisition date				$ 1,007
FDIC true-up liability	56.3		$ 56.3	$ 56.3
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member]
Indemnification Assets [Line Items]
Number of years FDIC indemnifies for claims from March 2009				3 years
Commercial Loan [Member]
Indemnification Assets [Line Items]
FDIC coverage expiration date				Dec. 1, 2014
Extendable period				3 years
Single-family Residential Portfolio (SFR) [Member]
Indemnification Assets [Line Items]
First loss tranche				$ 2,551
FDIC coverage expiration date				Dec. 1, 2019
Reverse Mortgage Indemnification Assets [Member]
Indemnification Assets [Line Items]
Cumulative loss submissions		11.2
Cumulative reimbursements related to reverse mortgage loans sold to agencies		$ 10.7
Reverse Mortgage Indemnification Assets [Member] | Maximum [Member]
Indemnification Assets [Line Items]
FDIC Indemnification Asset	200		200	$ 200
OneWest Bank [Member]
Indemnification Assets [Line Items]
FDIC Indemnification Asset					480.7
OneWest Bank [Member] | Minimum [Member]
Indemnification Assets [Line Items]
FDIC Indemnification Asset, Period Increase (Decrease)				200
IndyMac Transaction [Member]
Indemnification Assets [Line Items]
Net receivable	13		13	$ 13
Number of components to indemnification program | segment				4
FDIC Indemnification Asset	464.3		464.3	$ 464.3	480
FDIC true-up liability	0		0	0
First Federal Transaction [Member]
Indemnification Assets [Line Items]
FDIC Indemnification Asset	0		0	0
FDIC true-up liability	0		0	0
La Jolla Transaction [Member]
Indemnification Assets [Line Items]
FDIC Indemnification Asset	0.7		0.7	0.7	$ 0.7
IndyMac And La Jolla Transactions [Member]
Indemnification Assets [Line Items]
Fair value of indemnification assets	$ 480.7		$ 480.7	480.7
Indemnification assets potential maximum				4,700
FDIC [Member]
Indemnification Assets [Line Items]
First loss tranche				$ 932

Indemnification Assets (Schedul

Indemnification Assets (Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Aug. 03, 2015
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Fair Value	$ 465	$ 480.7
Receivable with (Payable to) the FDIC		0
OneWest Bank [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Fair Value		480.7
IndyMac Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Fair Value	464.3	480
First Federal Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Fair Value	0
La Jolla Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Fair Value	$ 0.7	0.7
Maximum [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Receivable with (Payable to) the FDIC		4,682.1
Maximum [Member] | IndyMac Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Receivable with (Payable to) the FDIC		4,596.8
Maximum [Member] | La Jolla Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Receivable with (Payable to) the FDIC		$ 85.3

Indemnification Assets (Sched80

Indemnification Assets (Schedule Of Carrying Value Of Recognized Indemnification Assets And Related Receivable/Payables) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Aug. 03, 2015
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Loan indemnification	$ 386.6
Reverse mortgage indemnification	10.7
Agency claims indemnification	67.7
Total	465	$ 480.7
Receivable with (Payable to) the FDIC		0
OneWest Bank [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Total		480.7
IndyMac Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Loan indemnification	385.9
Reverse mortgage indemnification	10.7
Agency claims indemnification	67.7
Total	464.3	480
First Federal Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Total	0
La Jolla Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Loan indemnification	0.7
Total	$ 0.7	0.7
Maximum [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Receivable with (Payable to) the FDIC		4,682.1
Maximum [Member] | IndyMac Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Receivable with (Payable to) the FDIC		4,596.8
Maximum [Member] | La Jolla Transaction [Member]
Schedule Of Estimated Fair Value And Range Of Value For Indemnification Assets [Line Items]
Receivable with (Payable to) the FDIC		$ 85.3

Indemnification Assets (Sched81

Indemnification Assets (Schedule Of Credit Losses On SFR Mortgage Loans) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	80.00%
Stated threshold	$ 1,007
FDIC [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
First loss tranche	932
Single-family Residential Portfolio (SFR) [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
First loss tranche	2,551
IndyMac Transaction [Member] | First Loss Tranche [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
First loss tranche	2,551
IndyMac Transaction [Member] | Under Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
Stated threshold	3,826
IndyMac Transaction [Member] | Meets or Exceeds Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
Stated threshold	$ 3,826
IndyMac Transaction [Member] | Single-family Residential Portfolio (SFR) [Member] | First Loss Tranche [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	0.00%
CIT Loss	100.00%
Comments of Loss Threshold	The first $2.551 billion (First Loss Tranche) of losses based on the unpaid principal balances as of the transaction date are borne entirely by the Company without reimbursement from FDIC.
IndyMac Transaction [Member] | Single-family Residential Portfolio (SFR) [Member] | Under Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	80.00%
CIT Loss	20.00%
Comments of Loss Threshold	Losses based on the unpaid principal balances as of the transaction date in excess of the First Loss Tranche but less than $3.826 billion (Stated Threshold) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company.
IndyMac Transaction [Member] | Single-family Residential Portfolio (SFR) [Member] | Meets or Exceeds Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	95.00%
CIT Loss	5.00%
Comments of Loss Threshold	Losses based on the unpaid principal balances as of the transaction date that equal or exceed $3.826 billion (Stated Threshold) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company.
First Federal Transaction [Member] | First Loss Tranche [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
First loss tranche	$ 932
First Federal Transaction [Member] | Under Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
Stated threshold	1,532
First Federal Transaction [Member] | Meets or Exceeds Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
Stated threshold	$ 1,532
First Federal Transaction [Member] | Single-family Residential Portfolio (SFR) [Member] | First Loss Tranche [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	0.00%
CIT Loss	100.00%
Comments of Loss Threshold	The first $932 million (First Loss Tranche) of losses based on the unpaid principal balances as of the transaction date are borne entirely by the Company without reimbursement from FDIC.
First Federal Transaction [Member] | Single-family Residential Portfolio (SFR) [Member] | Under Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	80.00%
CIT Loss	20.00%
Comments of Loss Threshold	Losses based on the unpaid principal balances as of the transaction date in excess of the First Loss Tranche but less than $1.532 billion (Stated Threshold) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company.
First Federal Transaction [Member] | Single-family Residential Portfolio (SFR) [Member] | Meets or Exceeds Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	95.00%
CIT Loss	5.00%
Comments of Loss Threshold	Losses based on the unpaid principal balances as of the transaction date that equal or exceed $1.532 billion (Stated Threshold) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company.
La Jolla Transaction [Member] | Under Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	80.00%
CIT Loss	20.00%
Comments of Loss Threshold	Losses based on unpaid principal balance up to the Stated Threshold ($1.007 billion) are reimbursed 80% by the FDIC with the remaining 20% borne by the Company.
La Jolla Transaction [Member] | Meets or Exceeds Stated Threshold [Member]
Schedule Of Certain Credit Losses On Mortgage Loans [Line Items]
FDIC Loss	95.00%
CIT Loss	5.00%
Comments of Loss Threshold	Losses based on unpaid principal balance at or in excess of the Stated Threshold ($1.007 billion) are reimbursed 95% by the FDIC with the remaining 5% borne by the Company.

Indemnification Assets (Sched82

Indemnification Assets (Schedule Of Submission Of Qualifying Losses For Reimbursement) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Mar. 31, 2015
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Cumulative reimbursement	$ 333.2	$ 0
Single-family Residential Portfolio (SFR) [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Cumulative reimbursement	45.4
Commercial And Industrial Loans Portfolio [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Cumulative reimbursement	287.8
IndyMac Transaction [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Unpaid principal balance	4,513.6
Cumulative losses incurred	3,586.9
Cumulative claims	3,573.1
Cumulative reimbursement	784.3
First Federal Transaction [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Unpaid principal balance	1,508.4
Cumulative losses incurred	414.2
Cumulative claims	413.6
First Federal Transaction [Member] | Single-family Residential Portfolio (SFR) [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Unpaid principal balance	1,508.4
Cumulative losses incurred	405.2
Cumulative claims	404.6
First Federal Transaction [Member] | Commercial And Industrial Loans Portfolio [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Cumulative losses incurred	9
Cumulative claims	9
La Jolla Transaction [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Unpaid principal balance	103.9
Cumulative losses incurred	415.7
Cumulative claims	416.5
La Jolla Transaction [Member] | Single-family Residential Portfolio (SFR) [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Unpaid principal balance	103.9
Cumulative losses incurred	56.2
Cumulative claims	56.8
La Jolla Transaction [Member] | Commercial And Industrial Loans Portfolio [Member]
Schedule Of Qualifying Losses For Reimbursement [Line Items]
Unpaid principal balance	(1)
Cumulative losses incurred	359.5
Cumulative claims	$ 359.7

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Realized investment gains excluding losses from OTTI	$ 2.1	$ 5.6	$ 6.7	$ 14.7
Interest bearing deposits	6,606.3		6,606.3		$ 6,241.2
OneWest Bank [Member] | Mortgage-Backed Securities [Member]
Estimated fair value of purchased credit-impaired securities	942,200		942,200
Par value of purchased credit-impaired securities	$ 1,200		$ 1,200

Investment Securities (Schedule

Investment Securities (Schedule Of Investment Securities) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Available-for-sale securities	$ 3,015.6	$ 1,130.5
Total investment securities	3,618.8	1,550.3
Debt Securities [Member]
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Available-for-sale securities	3,001.3	1,116.5
Held-to-maturity securities	310.7	352.3
Equity Securities [Member]
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Available-for-sale securities	14.3	14
Equity fund holdings and shares issued by customres during loan work out situations	28.7	52.3
Non-marketable Equity Investments [Member]
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Held-to-maturity securities	292.5	67.5
FRB and FHLB Securities [Member] | Equity Securities [Member]
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Held-to-maturity securities	$ 263.8	$ 5.3
Minimum [Member] | Equity Securities [Member]
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Percentage of non-marketable equity method ownership interets	3.00%	3.00%

Investment Securities (Schedu85

Investment Securities (Schedule Of Interest And Dividend Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Dividends - investments	$ 4	$ 0.4	$ 5	$ 2.1
Total interest and dividends	23.5	8.4	41.1	25.6
Interest Bearing Deposits [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Interest income	4.5	4.4	11.9	13.5
Investments / Reverse Repos [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Interest income	$ 15	$ 3.6	$ 24.2	$ 10

Investment Securities (Amortize

Investment Securities (Amortized Cost And Fair Value Of Securities Available-For-Sale) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 3,025.2	$ 1,130.5
Gross Unrealized Gains	2.2	0.2
Gross Unrealized Losses	(11.8)	(0.2)
Fair Value	3,015.6	1,130.5
U.S. Government Agency Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,147.5	$ 904.2
Gross Unrealized Gains	1.4
Gross Unrealized Losses	(0.1)
Fair Value	1,148.8	$ 904.2
Non-Agency Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	963.4
Gross Unrealized Gains	0.6
Gross Unrealized Losses	(11.5)
Fair Value	952.5
U.S. Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 300	$ 200
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 300	$ 200
Supranational And Foreign Government Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 600	$ 12.3
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 600	$ 12.3
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,010.9	$ 1,116.5
Gross Unrealized Gains	2
Gross Unrealized Losses	(11.6)
Fair Value	3,001.3	$ 1,116.5
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14.3	14
Gross Unrealized Gains	0.2	0.2
Gross Unrealized Losses	(0.2)	(0.2)
Fair Value	$ 14.3	$ 14

Investment Securities (Amorti87

Investment Securities (Amortized Cost And Fair Value Of Debt Securities Available-For-Sale By Contractual Maturity Dates) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Total debt securities available-for-sale, Amortized Cost	$ 3,010.9	$ 1,116.5
Total debt securities available-for-sale, Fair Value	$ 3,001.3	1,116.5
Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Contractual maturities of investments with no stated maturities	10 years
U.S. Government Agency Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost		904.2
After 1 but within 5 years, Amortized Cost	$ 996.6
Due after 10 years, Amortized Cost	150.9
Total debt securities available-for-sale, Amortized Cost	1,147.5	904.2
Due within 1 year, Fair Value		904.2
After 1 but within 5 years, Fair Value	997.4
Due after 10 years, Fair Value	151.4
Total debt securities available-for-sale, Fair Value	1,148.8	904.2
Non-Agency Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
After 5 but within 10 years, Amortized Cost	29
Due after 10 years, Amortized Cost	934.4
Total debt securities available-for-sale, Amortized Cost	963.4
After 5 but within 10 years, Fair Value	28.5
Due after 10 years, Fair Value	924
Total debt securities available-for-sale, Fair Value	952.5
U.S. Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost	300	200
Total debt securities available-for-sale, Amortized Cost	300	200
Due within 1 year, Fair Value	300	200
Total debt securities available-for-sale, Fair Value	300	200
Supranational And Foreign Government Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost	600	12.3
Total debt securities available-for-sale, Amortized Cost	600	12.3
Due within 1 year, Fair Value	600	12.3
Total debt securities available-for-sale, Fair Value	$ 600	$ 12.3

Investment Securities (Gross Un

Investment Securities (Gross Unrealized Losses And Estimated Fair Value Of Available-For-Sale Securities) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	$ 1,098.1	$ 0.2
Total securities available-for-sale, 12 months or greater, Fair Value
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	$ (11.8)	$ (0.2)
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss
U.S. Government Agency Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	$ 176.6
Total securities available-for-sale, 12 months or greater, Fair Value
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	$ (0.1)
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss
Non-Agency Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	$ 921.3
Total securities available-for-sale, 12 months or greater, Fair Value
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	$ (11.5)
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss
U.S. Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value
Total securities available-for-sale, 12 months or greater, Fair Value
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss
Supranational And Foreign Government Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value
Total securities available-for-sale, 12 months or greater, Fair Value
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	$ 1,097.9
Total securities available-for-sale, 12 months or greater, Fair Value
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	$ (11.6)
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	$ 0.2	$ 0.2
Total securities available-for-sale, 12 months or greater, Fair Value
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	$ (0.2)	$ (0.2)
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss

Investment Securities (Schedu89

Investment Securities (Schedule Of Acquired Purchased Credit-Impaired Securities Classified As Available-For-Sale) (Details) - OneWest Bank [Member] - Mortgage-Backed Securities [Member] - USD ($) $ in Millions	Sep. 30, 2015	Aug. 03, 2015
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedules [Line Items]
Contractually required payments, including interest		$ 1,631.8
Less: Non-accretable differences		(351.3)
Cash flows expected to be collected		1,280.5
Less: Accretable yield	$ (290.2)	(298.4)
Fair value of securities acquired		$ 982.1

Investment Securities (Changes

Investment Securities (Changes In Accretable Yield For Purchased Credit-Impaired Securities) (Details) - OneWest Bank [Member] - Mortgage-Backed Securities [Member] $ in Millions	2 Months Ended
	Sep. 30, 2015USD ($)
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedules [Line Items]
Beginning Balance	$ 298.4
Accretion into interest income	(8.2)
Ending Balance	$ 290.2

Investment Securities (Carrying

Investment Securities (Carrying Value And Fair Value Of Securities Held-To-Maturity) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
U.S. Government Agency Mortgage-Backed Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 153.3	$ 156.3	$ 156.3
Gross Unrealized Gains	1.6	2.5
Gross Unrealized Losses	(2.1)	(1.9)
Fair Value	152.8	156.9	156.9
State And Municipal [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	37.1	48.1	48.1
Gross Unrealized Gains	0.1	0.1
Gross Unrealized Losses	(0.3)	(1.8)
Fair Value	36.9	46.4	46.4
Supranational And Foreign Government Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	16.4	37.9	37.9
Gross Unrealized Gains	0.1	$ 0.1
Gross Unrealized Losses	(0.1)
Fair Value	16.4	$ 38	38
Corporate - Foreign [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	103.9	110	110
Gross Unrealized Gains	$ 6.8	$ 9
Gross Unrealized Losses
Fair Value	$ 110.7	$ 119	119
Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	310.7	352.3	352.3
Gross Unrealized Gains	8.6	11.7
Gross Unrealized Losses	(2.5)	(3.7)
Fair Value	$ 316.8	$ 360.3	$ 360.3

Investment Securities (Amorti92

Investment Securities (Amortized Cost And Fair Value Of Debt Securities Held-To-Maturity By Contractual Maturity Dates) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
U.S. Government Agency Mortgage-Backed Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
After 5 but within 10 years, Amortized Cost	$ 1.3		$ 1.3
Due after 10 years, Amortized Cost	152		155
Amortized Cost	153.3	$ 156.3	156.3
After 5 but within 10 years, Fair Value	1.3		1.3
Due after 10 years, Fair Value	151.5		155.6
Fair Value	152.8	156.9	156.9
State And Municipal [Member]
Schedule of Held-to-maturity Securities [Line Items]
Due within 1 year, Amortized Cost	0.7		1.2
After 1 but within 5 years, Amortized Cost	1.5		2.9
After 5 but within 10 years, Amortized Cost	0.8
Due after 10 years, Amortized Cost	34.1		44
Amortized Cost	37.1	48.1	48.1
Due within 1 year, Fair Value	0.7		1.2
After 1 but within 5 years, Fair Value	1.5		2.9
After 5 but within 10 years, Fair Value	0.8
Due after 10 years, Fair Value	33.9		42.3
Fair Value	36.9	46.4	46.4
Supranational And Foreign Government Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Due within 1 year, Amortized Cost	14		10.8
After 1 but within 5 years, Amortized Cost	2.4		27.1
Amortized Cost	16.4	37.9	37.9
Due within 1 year, Fair Value	14		10.8
After 1 but within 5 years, Fair Value	2.4		27.2
Fair Value	16.4	38	38
Corporate - Foreign [Member]
Schedule of Held-to-maturity Securities [Line Items]
Due within 1 year, Amortized Cost	0.9		0.9
After 1 but within 5 years, Amortized Cost	76.2		43.7
After 5 but within 10 years, Amortized Cost	26.8		65.4
Amortized Cost	103.9	110	110
Due within 1 year, Fair Value	0.9		0.9
After 1 but within 5 years, Fair Value	82.2		49.8
After 5 but within 10 years, Fair Value	27.6		68.3
Fair Value	110.7	119	119
Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	310.7	352.3	352.3
Fair Value	$ 316.8	$ 360.3	$ 360.3
Minimum [Member]
Schedule of Held-to-maturity Securities [Line Items]
Contractual maturities of investments with no stated maturities	10 years

Other Assets (Components Of Oth

Other Assets (Components Of Other Assets) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Other Assets [Abstract]
Current and deferred federal and state tax assets	$ 1,216.7	$ 483.5
Deposits on commercial aerospace equipment	810.7	736.3
Tax credit investments and investments in unconsolidated subsidiaries	224.6	73.4
Property, furniture and fixtures	200.2	126.4
Fair value of derivative financial instruments	166.9	168
Deferred debt costs and other deferred charges	131.7	148.1
Assets received in satisfaction of loans	127.9	0.8
Tax receivables, other than income taxes	102.2	102
Executive retirement plan and deferred compensation	94.7	96.7
Other	462.8	171.5
Total other assets	3,538.4	$ 2,106.7
Deferred tax asset valuation, reversal	$ 676

Deposits (Schedule Of Deposits)

Deposits (Schedule Of Deposits) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Deposits [Abstract]
Deposits Outstanding	$ 32,328.9		$ 15,849.8
Weighted average contractual interest rate	1.26%		1.69%
Weighted average remaining number of days to maturity	891 days	1293 days
Daily average deposits	$ 20,052.9
Maximum amount outstanding	$ 32,328.9
Weighted average contractual interest rate for the year	1.55%

Deposits (Schedule Of Rates And

Deposits (Schedule Of Rates And Maturities Of Deposits) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Deposits [Abstract]
Non-interest-bearing checking, Amount	$ 966.6
Interest-bearing checking, Amount	3,205.1
Money market, Amount	5,367.8
Savings, Amount	4,679.9
Other, Amount	169.3
Total checking and savings deposits, Amount	14,388.7
Certificates of deposit, remaining contractual maturity: Within one year, Amount	7,633.2
Certificates of deposit, remaining contractual maturity: One to two years, Amount	2,925.3
Certificates of deposit, remaining contractual maturity: Two to three years, Amount	1,391.5
Certificates of deposit, remaining contractual maturity: Three to four years, Amount	1,638.8
Certificates of deposit, remaining contractual maturity: Four to five years, Amount	2,056.2
Certificates of deposit, remaining contractual maturity: Over five years, Amount	2,270.7
Total certificates of deposit, Amount	17,915.7
Premium / discount, Amount	(1.1)
Purchase accounting adjustments, Amount	25.6
Total Deposits, Amount	$ 32,328.9	$ 15,849.8
Non-interest-bearing checking, Average Rate	0.00%
Interest-bearing checking, Average Rate	0.51%
Money market, Average Rate	0.74%
Savings, Average Rate	0.96%
Other, Average Rate	0.00%
Certificates of deposit, remaining contractual maturity: Within one year, Average Rate	1.15%
Certificates of deposit, remaining contractual maturity: One to two years, Average Rate	1.36%
Certificates of deposit, remaining contractual maturity: Two to three years, Average Rate	1.60%
Certificates of deposit, remaining contractual maturity: Three to four years, Average Rate	2.28%
Certificates of deposit, remaining contractual maturity: Four to five years, Average Rate	2.27%
Certificates of deposit, remaining contractual maturity: Over five years, Average Rate	3.14%
Total Deposits, Average Rate	1.26%	1.69%

Deposits (Schedule Of Certifica

Deposits (Schedule Of Certificates Of Deposits $100,000 Or More) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Deposits [Abstract]
U.S. certificates of deposits: Three months or less	$ 1,390.5	$ 340.9
U.S. certificates of deposits: After three months through six months	1,449.5	330.8
U.S. certificates of deposits: After six months through twelve months	2,183.5	757.8
U.S. certificates of deposits: After twelve months	4,506.9	2,590.3
Total U.S. certificates of deposits	9,530.4	4,019.8
Non-U.S. certificates of deposits	$ 24	$ 57

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)item	Sep. 30, 2014	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Debt Instrument [Line Items]
Purchase accounting adjustment	$ 25.6
Revolving Credit Facility, outstanding	0		$ 0
Revolving Credit Facility, available draw amount	1,400
Revolving Credit Facility, total commitment amount	$ 1,500
Revolving Credit Facility, maturity date		Jan. 27, 2017
Revolving Credit Facility, domestic operating subsidiary guarantors | item	8
Revolving Credit Facility, minimum consolidated net worth covenant	$ 6,000
Senior Unsecured Notes, percent of purchase price to principal amount	101.00%
FHLB Advances, financing availability	$ 5,600
FHLB Advances, unused and available	$ 2,400
FHLB Advances, weighted average rate	0.64%
Secured Borrowings, weighted average rate	3.26%
Secured borrowings	$ 5,376.5		$ 6,268.7
HECM loans				$ 3,400
Pledged assets	18,300
Pledged assets, loans	12,700
Pledged assets, operating lease assets	4,700
Pledged assets, cash	800
Pledged assets, investments	$ 100
Minimum [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, minimum guarantor asset coverage ratio	1.25
Secured Borrowings, weighted average rate	0.30%
Percent required of claim amount for loan service	98.00%
Maximum [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, minimum guarantor asset coverage ratio	1.5
Secured Borrowings, weighted average rate	6.11%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, total commitment amount	$ 1,150
Letters of Credit [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, available draw amount	100
Revolving Credit Facility, total commitment amount	$ 350
LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, applicable margin	2.50%
Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, applicable margin	1.50%
OneWest Bank [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, total commitment amount	$ 1,000
OneWest Bank [Member] | Variable Interest Entities [Member]
Debt Instrument [Line Items]
unamortized premium balance	15.3
OneWest Bank [Member] | Variable Interest Entities [Member] | HMBS [Member]
Debt Instrument [Line Items]
Secured borrowings	202.4
OneWest Bank [Member] | Discontinued Operations [Member]
Debt Instrument [Line Items]
Secured borrowings	454
Student Loan Business [Member] | OneWest Bank [Member]
Debt Instrument [Line Items]
HECM loans	463.9
Secured borrowings - HECM loans	$ 454.1

Borrowings (Schedule Of Long-Te

Borrowings (Schedule Of Long-Term Borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term borrowings	$ 19,320.5	$ 18,455.8
CIT Group Inc. [Member]
Debt Instrument [Line Items]
Long-term borrowings	10,725
Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term borrowings	8,595.5
Unsecured Borrowings [Member]
Debt Instrument [Line Items]
Long-term borrowings	10,725	11,932.4
Unsecured Borrowings [Member] | CIT Group Inc. [Member]
Debt Instrument [Line Items]
Long-term borrowings	10,725
FHLB Advances [Member]
Debt Instrument [Line Items]
Long-term borrowings	3,219	254.7
FHLB Advances [Member] | Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term borrowings	3,219
Secured Borrowings [Member]
Debt Instrument [Line Items]
Long-term borrowings	5,376.5	$ 6,268.7
Secured Borrowings [Member] | Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term borrowings	5,376.5
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term borrowings	8,236
Series C Notes [Member]
Debt Instrument [Line Items]
Long-term borrowings	2,450
Other Unsecured Debt [Member]
Debt Instrument [Line Items]
Long-term borrowings	$ 39

Borrowings (Schedule Of Contrac

Borrowings (Schedule Of Contractual Maturities) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
2,016	$ 4,006.4	$ 3,053.3
2,017	3,930.5
2,018	3,780
2,019	3,202.3
2,020	1,097.8
Thereafter	3,307.8
Contractual Maturities	19,324.8
Unsecured Borrowings [Member]
Debt Instrument [Line Items]
2,017	2,992
2,018	2,200
2,019	2,750
2,020	750
Thereafter	2,051.4
Contractual Maturities	10,743.4
FHLB Advances [Member]
Debt Instrument [Line Items]
2,016	2,271.5
2,017	42
2,018	900
Contractual Maturities	3,213.5
Secured Borrowings [Member]
Debt Instrument [Line Items]
2,016	1,734.9
2,017	896.5
2,018	680
2,019	452.3
2,020	347.8
Thereafter	1,256.4
Contractual Maturities	$ 5,367.9

Borrowings (Schedule Of Senior

Borrowings (Schedule Of Senior Unsecured Notes) (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
Par Value	$ 10,692,000,000
Weighted Average Rate (%)	5.02%
Senior Unsecured Notes [Member] | May 2017 - 5.000% [Member]
Debt Instrument [Line Items]
Maturity Date	May 1, 2017
Rate (%)	5.00%
Date of Issuance	May 1, 2012
Par Value	$ 1,246,500,000
Senior Unsecured Notes [Member] | August 2017 - 4.250%[Member]
Debt Instrument [Line Items]
Maturity Date	Aug. 1, 2017
Rate (%)	4.25%
Date of Issuance	Aug. 1, 2012
Par Value	$ 1,745,500,000
Senior Unsecured Notes [Member] | March 2018 - 5.250% [Member]
Debt Instrument [Line Items]
Maturity Date	Mar. 1, 2018
Rate (%)	5.25%
Date of Issuance	Mar. 1, 2012
Par Value	$ 1,500,000,000
Senior Unsecured Notes [Member] | February 2019 - 3.875% [Member]
Debt Instrument [Line Items]
Maturity Date	Feb. 1, 2019
Rate (%)	3.875%
Date of Issuance	Feb. 1, 2014
Par Value	$ 1,000,000,000
Senior Unsecured Notes [Member] | May 2020 - 5.375% [Member]
Debt Instrument [Line Items]
Maturity Date	May 1, 2020
Rate (%)	5.375%
Date of Issuance	May 1, 2012
Par Value	$ 750,000,000
Senior Unsecured Notes [Member] | August 2022 - 5.000% [Member]
Debt Instrument [Line Items]
Maturity Date	Aug. 1, 2022
Rate (%)	5.00%
Date of Issuance	Aug. 1, 2012
Par Value	$ 1,250,000,000
Senior Unsecured Notes [Member] | August 2023 - 5.000% [Member]
Debt Instrument [Line Items]
Maturity Date	Aug. 1, 2023
Rate (%)	5.00%
Date of Issuance	Aug. 1, 2013
Par Value	$ 750,000,000
Series C Notes [Member] | April 2018 - 6.625% [Member]
Debt Instrument [Line Items]
Maturity Date	Apr. 1, 2018
Rate (%)	6.625%
Date of Issuance	Mar. 1, 2011
Par Value	$ 700,000,000
Series C Notes [Member] | February 2019 - 5.500% [Member]
Debt Instrument [Line Items]
Maturity Date	Feb. 1, 2019
Rate (%)	5.50%
Date of Issuance	Feb. 1, 2012
Par Value	$ 1,750,000,000

Borrowings (Schedule Of FHLB Ad

Borrowings (Schedule Of FHLB Advances With Pledged Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014
Borrowings [Abstract]
FHLB Advances	$ 3,219	$ 254.7
Pledged Assets	$ 6,583.8	$ 309.6

Borrowings (Schedule Of Secured

Borrowings (Schedule Of Secured Borrowings And Pledged Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	$ 5,376.5	$ 6,268.7
Pledged Assets	9,102.1	10,218.1
TRS [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,200
Pledged Assets	1,800
Rail [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,087.2	1,179.7
Pledged Assets	1,505.5	1,575.7
Aerospace [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	2,219.8	2,411.7
Pledged Assets	3,707.9	3,914.4
International Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	416.2	545
Pledged Assets	560.3	730.6
Transportation And International Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	3,723.2	4,136.4
Pledged Assets	5,773.7	6,220.7
Commercial Banking [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged Assets	0.2
Commercial Services [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	334.7	334.7
Pledged Assets	1,671.7	1,644.6
Equipment Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,318.6	1,797.6
Pledged Assets	1,656.5	2,352.8
North American Banking [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,653.3	2,132.3
Pledged Assets	$ 3,328.4	$ 3,997.4

Borrowings (Assets and Liabilit

Borrowings (Assets and Liabilities in Unconsolidated VIEs) (Details) $ in Millions	Sep. 30, 2015USD ($)
Debt Securities [Member]
Variable Interest Entity [Line Items]
Total Assets	$ 1,104
Maximum loss exposure	1,104
Debt Securities [Member] | U.S. Treasury Agency Obligations [Member]
Variable Interest Entity [Line Items]
Total Assets	151.5
Debt Securities [Member] | Non-agency Securities - Other Servicer [Member]
Variable Interest Entity [Line Items]
Total Assets	952.5
Equity Securities [Member]
Variable Interest Entity [Line Items]
Total Assets	134.5
Total Liabilities	20.3
Maximum loss exposure	134.5
Equity Securities [Member] | Tax Credit Equity Investment [Member]
Variable Interest Entity [Line Items]
Total Assets	134.5
Equity Securities [Member] | Commitments To Tax Credit Investments [Member]
Variable Interest Entity [Line Items]
Total Liabilities	$ 20.3

Derivative Financial Instrum104

Derivative Financial Instruments (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Derivative [Line Items]
Maximum aggregate facility commitment amounts	$ 2,125		$ 2,125
Aggregate actual adjusted qualifying borrowing base outstanding	986.8		986.8		$ 1,033.1
Liability recorded based on Company's valuation	56.2		56.2		24.5
Recognized reduction to other income	$ 24.3	$ 13.4	$ 31.7	$ 3.7
TRS [Member]
Derivative [Line Items]
Number of derivative financing facilities | item	2		2
Number of wholly owned subsidiaries | item	2		2
Notional amount of derivative	$ 1,138.2		$ 1,138.2		$ 1,091.9
TRS [Member] | CIT Financial, Ltd. Facility [Member]
Derivative [Line Items]
Unutilized portion of facility accounted for as a derivative	1,500		1,500
TRS [Member] | CIT TRS Funding B.V. [Member]
Derivative [Line Items]
Unutilized portion of facility accounted for as a derivative	$ 625		$ 625

Derivative Financial Instrum105

Derivative Financial Instruments (Fair And Notional Values Of Derivative Financial Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
TRS [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 1,138.2	$ 1,091.9
Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	868.5	1,193.1
Asset Fair Value	54.3	74.7
Liability Fair Value	(1.4)	0
Qualifying Hedges [Member] | Foreign Currency Forward Contracts - Net Investment Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	868.5	1,193.1
Asset Fair Value	54.3	74.7
Liability Fair Value	(1.4)	0
Non-Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	13,204.9	8,683.6
Asset Fair Value	114.1	93.7
Liability Fair Value	(128.8)	(62.8)
Non-Qualifying Hedges [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	4,165.7	1,902
Asset Fair Value	53.4	15.6
Liability Fair Value	(52.8)	(23.6)
Non-Qualifying Hedges [Member] | Written Options [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	3,662.9	2,711.5
Liability Fair Value	(2.5)	(2.7)
Non-Qualifying Hedges [Member] | Purchased Options [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	2,349.3	948.4
Asset Fair Value	1.8	0.8
Non-Qualifying Hedges [Member] | Foreign Currency Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,854	2,028.8
Asset Fair Value	58.6	77.2
Liability Fair Value	(17.1)	(12)
Non-Qualifying Hedges [Member] | TRS [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,138.2	1,091.9
Liability Fair Value	(56.2)	(24.5)
Non-Qualifying Hedges [Member] | Equity Warrants [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1	1
Asset Fair Value	0.2	0.1
Non-Qualifying Hedges [Member] | Interest Rate Lock Commitments [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	6.5
Asset Fair Value	0.1
Non-Qualifying Hedges [Member] | Credit Derivatives [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	27.3
Liability Fair Value	(0.2)
Qualifying And Non-Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	14,073.4	9,876.7
Asset Fair Value	168.4	168.4
Liability Fair Value	$ (130.2)	$ (62.8)

Derivative Financial Instrum106

Derivative Financial Instruments (Offsetting Of Derivative Assets And Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivative Financial Instruments [Abstract]
Gross Amount Recognized, Derivative assets	$ 168.4	$ 168.4
Gross Amount Offset on the Statement of Financial Position, Derivative assets
Net Amount Of Asset Presented On The Statement Of Financial Position, Derivative assets	$ 168.4	$ 168.4
Gross Amounts not offset on Statement Of Financial Position, Financial Instruments, Derivative assets	(20.2)	(13.6)
Gross Amounts not offset on Statement of Financial Position, Cash Collateral Received (Pledged), Derivative assets	(94.5)	(137.3)
Gross Amounts not offset on Statement of Financial Position, Net Amount, Derivative assets	53.7	17.5
Gross Amount Recognized, Derivative liabilities	$ (130.2)	$ (62.8)
Gross Amount Offset on the Statement of Financial Position, Derivative liabilities
Net Amount of (Liability) Presented on the Statement of Finacial Position, Derivative liabilities	$ (130.2)	$ (62.8)
Gross Amounts not offset on Statement Of Financial Position, Financial Instruments, Derivative liabilities	20.2	13.6
Gross Amounts not offset on Statement of Financial Position, Cash Collateral Received (Pledged), Derivative liabilities	44.5	8.7
Gross Amounts not offset on Statement of Financial Position, Net Amount, Derivative liabilities	$ (65.5)	$ (40.5)

Derivative Financial Instrum107

Derivative Financial Instruments (Derivative Instrument Gains And Losses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	$ 18.5	$ 66.9	$ 52.9	$ 70.3
Qualifying Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	0	0
Non-Qualifying Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	18.5	66.9	52.9	70.3
Non-Qualifying Hedges [Member] | Cross Currency Swaps - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact				4.1
Non-Qualifying Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	(2.2)	2.1	(1.1)	5.9
Non-Qualifying Hedges [Member] | Interest Rate Options [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	1.2	(2.2)	1.1	(2.4)
Non-Qualifying Hedges [Member] | Foreign Currency Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	43.8	80.7	84.5	67.2
Non-Qualifying Hedges [Member] | Equity Warrants [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact		(0.3)	0.1	(0.8)
Non-Qualifying Hedges [Member] | TRS [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	$ (24.3)	$ (13.4)	$ (31.7)	$ (3.7)

Derivative Financial Instrum108

Derivative Financial Instruments (Changes In AOCI Relating To Derivatives) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income	$ 4.3	$ (6.7)	$ 8.5	$ (12.8)
Hedge ineffectiveness recorded directly in income
Total income statement impact	$ 4.3	$ (6.7)	$ 8.5	$ (12.8)
Derivatives - effective portion recorded in OCI	44	82.2	106.3	64.8
Total change in OCI for the period	$ 39.7	$ 88.9	$ 97.8	$ 77.6
Foreign Currency Forward Contracts - Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedge ineffectiveness recorded directly in income
Derivatives - effective portion recorded in OCI		$ 0.2		$ 0.2
Total change in OCI for the period		0.2		0.2
Foreign Currency Forward Contracts - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income	$ 4.3	$ (6.7)	$ 8.5	$ (12.8)
Hedge ineffectiveness recorded directly in income
Total income statement impact	$ 4.3	$ (6.7)	$ 8.5	$ (12.8)
Derivatives - effective portion recorded in OCI	44	82	106.3	63.5
Total change in OCI for the period	$ 39.7	$ 88.7	$ 97.8	$ 76.3
Cross Currency Swaps - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedge ineffectiveness recorded directly in income
Derivatives - effective portion recorded in OCI				$ 1.1
Total change in OCI for the period				$ 1.1

Other Liabilities (Components O

Other Liabilities (Components Of Other Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Other Liabilities [Abstract]
Equipment maintenance reserves	$ 968.4	$ 960.4
Accrued expenses and accounts payable	602.7	478.3
Current taxes payable and deferred taxes	384.9	319.1
Security and other deposits	296.8	368
Accrued interest payable	171.4	243.7
Valuation adjustment relating to aerospace commitments	98.4	121.2
Other	873.1	398.1
Total other liabilities	3,395.7	$ 2,888.8
Trade date accounting for investment security purchased	$ 300

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details)	2 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)		Sep. 30, 2015USD ($)item		Dec. 31, 2014USD ($)		Sep. 30, 2014USD ($)
Assets held for sale (excluding leases)	$ 584,000,000		$ 584,000,000		$ 67,200,000
Assets held for sale	2,154,300,000	[1]	2,154,300,000	[1]	1,218,100,000	[1]	$ 1,102,700,000
Leasing assets acquired	21,860,100,000		21,860,100,000		14,850,800,000
Deposit balance error affecting the fair value balance					134,000,000
Debt Instrument, Face Amount	10,692,000,000		10,692,000,000
Level 1 [Member]
Assets held for sale	21,200,000		21,200,000
Level 2 [Member]
Assets held for sale	9,000,000		9,000,000
Leasing assets acquired	1,600,000,000		1,600,000,000		1,600,000,000
Unsecured borrowings	10,700,000,000		10,700,000,000		12,000,000,000
Debt Instrument, Face Amount	5,500,000,000		5,500,000,000		3,300,000,000
Level 3 [Member]
Assets held for sale (excluding leases)	1,297,500,000		1,297,500,000
Debt Instrument, Face Amount	3,000,000,000		$ 3,000,000,000		$ 3,200,000,000
Minimum [Member]
Discount rate			4.40%
Threshold at which impaired finance receivables that are placed on non-accrual status are subject to individual review	500,000,000		$ 500,000,000
Maximum [Member]
Discount rate			7.60%
OneWest Bank [Member]
Probable amount of holdback to be paid			$ 62.4
Loss in earning due to fair value changes	700,000
OneWest Bank [Member] | Minimum [Member]
Range of potential holdback to be paid	0		$ 0
Discount rate			4.00%
OneWest Bank [Member] | Maximum [Member]
Range of potential holdback to be paid	$ 116,000,000		$ 116,000,000
Discount rate			6.00%
FDIC Receivable [Member]
Percent of future cash flows from underlying loans and real estate properties			40.00%
FDIC True-Up Liability [Member] | La Jolla Transaction [Member]
Number of days after the loss sharing agreement maturity			45 days
Consideration Holdback Liability [Member] | OneWest Bank [Member]
Number of consideration holdback liabilities | item			4
Reduction in cash consideration due to trailing risks			$ 116,000,000
Consideration Holdback Liability [Member] | OneWest Bank [Member] | Minimum [Member]
Holdback periods			1 year
Consideration Holdback Liability [Member] | OneWest Bank [Member] | Maximum [Member]
Holdback periods			5 years
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interest in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Fair Value (Assets And Liabilit

Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 3,001.3	$ 1,116.5
Derivative counterparty assets at fair value	54.3	74.7
Derivative liabilities at fair value - qualifiying hedges	(1.4)
FDIC true-up liability	(56.3)
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	3,001.3	1,116.5
Available-for-sale equity securities	14.3	14
FDIC receivable	54.2
Trading assets at fair value - derivatives	114.1	93.7
Derivative counterparty assets at fair value	54.3	74.7
Total Assets	3,238.2	1,298.9
Derivative liabilities at fair value - non-qualifying hedges	(128.8)	(62.8)
Derivative liabilities at fair value - qualifiying hedges	(1.4)
Consideration holdback liability	(60.8)
FDIC true-up liability	(56.3)
Total Liabilities	(247.3)	(62.8)
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	300	212.3
Available-for-sale equity securities	14.3	14
Total Assets	314.3	226.3
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	1,748.8	904.2
Trading assets at fair value - derivatives	114.1	93.7
Derivative counterparty assets at fair value	54.3	74.7
Total Assets	1,917.2	1,072.6
Derivative liabilities at fair value - non-qualifying hedges	(71.7)	(36.2)
Derivative liabilities at fair value - qualifiying hedges	(1.4)
Total Liabilities	(73.1)	$ (36.2)
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 952.5
Available-for-sale equity securities
FDIC receivable	$ 54.2
Trading assets at fair value - derivatives
Derivative counterparty assets at fair value
Total Assets	$ 1,006.7
Derivative liabilities at fair value - non-qualifying hedges	$ (57.1)	$ (26.6)
Derivative liabilities at fair value - qualifiying hedges
Consideration holdback liability	$ (60.8)
FDIC true-up liability	(56.3)
Total Liabilities	(174.2)	$ (26.6)
FDIC Receivable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FDIC receivable	$ 54.2

Fair Value (Quantitative Inform

Fair Value (Quantitative Information About Level 3 Fair Value Measurements-Recurring) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - assets	$ 1,006.7
Estimated fair value - liabilities	(174.2)
FDIC True-Up Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - liabilities	$ (56.3)
Valuation Techniques	Discounted cash flow
Consideration Holdback Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - liabilities	$ (60.8)
Valuation Techniques	Discounted cash flow
Derivative liabilities - non qualifying [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - liabilities	$ (57.1)
Valuation Techniques	Market Comparables(1)
Available-For-Sale Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - assets	$ 952.5
Valuation Techniques	Discounted cash flow
FDIC Receivable [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - assets	$ 54.2
Valuation Techniques	Discounted cash flow
Minimum [Member] | FDIC True-Up Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, default rate	4.00%
Minimum [Member] | Consideration Holdback Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	3.00%
Fair value measurements, payment probability	0.00%
Minimum [Member] | Available-For-Sale Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	0.00%
Fair value measurements, prepayment rate	3.20%
Fair value measurements, default rate	0.00%
Fair value measurements, loss severity	0.10%
Minimum [Member] | FDIC Receivable [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	9.50%
Fair value measurements, prepayment rate	2.00%
Fair value measurements, default rate	6.00%
Fair value measurements, loss severity	20.00%
Maximum [Member] | FDIC True-Up Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, default rate	4.00%
Maximum [Member] | Consideration Holdback Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	3.00%
Fair value measurements, payment probability	100.00%
Maximum [Member] | Available-For-Sale Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	49.00%
Fair value measurements, prepayment rate	22.30%
Fair value measurements, default rate	9.80%
Fair value measurements, loss severity	83.30%
Maximum [Member] | FDIC Receivable [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	15.00%
Fair value measurements, prepayment rate	14.00%
Fair value measurements, default rate	36.00%
Fair value measurements, loss severity	65.00%
Weighted Average [Member] | FDIC True-Up Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, default rate	4.00%
Weighted Average [Member] | Consideration Holdback Liability [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	3.00%
Fair value measurements, payment probability	53.80%
Weighted Average [Member] | Available-For-Sale Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	6.20%
Fair value measurements, prepayment rate	9.90%
Fair value measurements, default rate	4.10%
Fair value measurements, loss severity	32.00%
Weighted Average [Member] | FDIC Receivable [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, discount rate	10.40%
Fair value measurements, prepayment rate	3.70%
Fair value measurements, default rate	10.80%
Fair value measurements, loss severity	31.70%

Fair Value (Changes In Estimate

Fair Value (Changes In Estimated Fair Value For Financial Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
FDIC True-Up Liability [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, liability	$ (56.3)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Ending Balance	(56.3)
Consideration Holdback Liability [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, liability	(60.8)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Ending Balance	(60.8)
Available-For-Sale Securities [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Included in earnings, assets	(0.2)
Included in comprehensive income, assets	(10.9)
Purchases, assets	992.8
Settlements, assets	(29.2)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Ending Balance	952.5
FDIC Receivable [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Included in earnings, assets	0.7
Purchases, assets	54.8
Settlements, assets	(1.3)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Ending Balance	54.2
Net Derivatives [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Beginning Balance	(26.6)	$ (9.7)
Included in earnings, assets	(30.5)	(3.7)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Ending Balance	$ (57.1)	$ (13.4)

Fair Value (Carrying Value Of A

Fair Value (Carrying Value Of Assets Measured At Fair Value On A Non-Recurring Basis) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 584	$ 67.2
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	1,297.5
Non-Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	1,289.4	949.6
Other real estate owned	127.9
Impaired loans	52.9	13.2
Total	$ 1,470.2	$ 962.8
Non-Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale
Other real estate owned
Impaired loans
Total
Non-Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale
Other real estate owned
Impaired loans
Total
Non-Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 1,289.4	$ 949.6
Other real estate owned	127.9
Impaired loans	52.9	13.2
Total	1,470.2	962.8
Non-Recurring [Member] | Total (Losses) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	(34.3)	(73.6)
Other real estate owned	(3.2)
Impaired loans	(13)	(4.9)
Total	$ (50.5)	$ (78.5)

Fair Value (Summary Of Fair Val

Fair Value (Summary Of Fair Value Option) (Details) - FDIC Receivable [Member] $ in Millions	Sep. 30, 2015USD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
FDIC receivable, estimated fair value carrying amount	$ 54.2
FDIC receivable, aggregate unpaid principal	213
Estimated fair value carrying amount less aggregate unpaid	$ (158.8)

Fair Value (Carrying And Estima

Fair Value (Carrying And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and interest bearing deposits	$ 8,259,900	$ 7,119,700
Derivative assets at fair value - non-qualifying hedges	114,100	93,700
Derivative assets at fair value - qualifiying hedges	54,300	74,700
Assets held for sale (excluding leases)	584,000	67,200
Loans (excluding leases)	28,245,600	14,554,900
Securities purchased under agreements to resell	100,000	650,000
Investment securities	3,624,800	1,558,300
Indemnification assets	393,000
Tax credit investments	120,200
Other assets subject to fair value disclosure and unsecured counterparty	1,243,100	886,200
Deposits	(32,462,000)	(15,972,200)
Derivative liabilities at fair value - non - qualifying hedges	(128,800)	(62,800)
Derivative liabilities at fair value - qualifiying hedges	(1,400)
Long-term borrowings	(19,833,600)	(19,244,400)
Commitments to affordable housing investments	(16,300)
Credit balances of factoring clients	(1,609,300)	(1,622,100)	$ (1,433,200)
Other liabilities subject to fair value disclosure	(2,106,400)	(2,066,800)
Unpaid Principal Balance	129,600	85,300
Impaired loans carrying amount	$ 83,900	$ 45,100
Carrying amount of impaired loans percentage of unpaid principal balance	64.70%	53.00%
Fair value of loans, percentage	98.10%	98.20%
Unpaid Principal Balance	$ 129,600	$ 85,300
Impaired loans unpaid principal balance with no specific allowance	31,200	29,200
Impaired loans carrying value with no specific allowance	24,800	21,200
Available-for-sale debt securities	3,001,300	1,116,500
Agency claimed indemnification assets	(67,700)	700
Commercial loans, direct financing leases and leverage leases affected by an immaterial error		452,600
Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)	1,289,400	949,600
Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - qualifiying hedges	54,300	74,700
Derivative liabilities at fair value - qualifiying hedges	(1,400)
Available-for-sale debt securities	3,001,300	1,116,500
Commercial Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans (excluding leases)	28,200,000	14,600,000
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and interest bearing deposits	8,259,900	7,119,700
Derivative assets at fair value - non-qualifying hedges	114,100	93,700
Derivative assets at fair value - qualifiying hedges	54,300	74,700
Assets held for sale (excluding leases)	572,700	67,000
Loans (excluding leases)	28,789,300	14,832,100
Securities purchased under agreements to resell	100,000	650,000
Investment securities	3,618,800	1,550,300
Indemnification assets	396,600
Tax credit investments	113,600
Other assets subject to fair value disclosure and unsecured counterparty	1,243,100	886,200
Deposits	(32,380,400)	(15,891,400)
Derivative liabilities at fair value - non - qualifying hedges	(128,800)	(62,800)
Derivative liabilities at fair value - qualifiying hedges	(1,400)
Long-term borrowings	(19,440,300)	(18,657,900)
Commitments to affordable housing investments	(20,300)
Credit balances of factoring clients	(1,609,300)	(1,622,100)
Other liabilities subject to fair value disclosure	$ (2,106,400)	$ (2,066,800)
Level 1 [Member] | Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)
Level 1 [Member] | Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale debt securities	$ 300,000	$ 212,300
Level 1 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and interest bearing deposits	8,259,900	7,119,700
Assets held for sale (excluding leases)	22,000
Investment securities	518,000	464,900
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured borrowings	$ 10,700,000	$ 12,000,000
Level 2 [Member] | Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)
Level 2 [Member] | Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - qualifiying hedges	$ 54,300	$ 74,700
Derivative liabilities at fair value - qualifiying hedges	(1,400)
Available-for-sale debt securities	1,748,800	904,200
Level 2 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - non-qualifying hedges	114,100	93,700
Derivative assets at fair value - qualifiying hedges	54,300	74,700
Assets held for sale (excluding leases)	9,500
Loans (excluding leases)	1,583,200	1,585,400
Securities purchased under agreements to resell	100,000	650,000
Investment securities	1,793,500	956,000
Derivative liabilities at fair value - non - qualifying hedges	(71,700)	(36,200)
Derivative liabilities at fair value - qualifiying hedges	(1,400)
Long-term borrowings	(16,667,100)	(15,906,300)
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)	1,297,500
Commercial loans, direct financing leases and leverage leases affected by an immaterial error		478,700
Level 3 [Member] | Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)	$ 1,289,400	$ 949,600
Level 3 [Member] | Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - qualifiying hedges
Derivative liabilities at fair value - qualifiying hedges
Available-for-sale debt securities	$ 952,500
Level 3 [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)	552,500	$ 67,200
Loans (excluding leases)	26,662,400	12,969,500
Investment securities	1,313,300	137,400
Indemnification assets	393,000
Tax credit investments	120,200
Other assets subject to fair value disclosure and unsecured counterparty	1,243,100	886,200
Deposits	(32,462,000)	(15,972,200)
Derivative liabilities at fair value - non - qualifying hedges	(57,100)	(26,600)
Long-term borrowings	(3,166,500)	(3,338,100)
Commitments to affordable housing investments	(16,300)
Credit balances of factoring clients	(1,609,300)	(1,622,100)
Other liabilities subject to fair value disclosure	(2,106,400)	$ (2,066,800)
Available-for-sale debt securities	952,500
Non-marketable investments	292,500
Held-to-maturity securities	$ 68,300

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stockholders' Equity [Abstract]
Common stock issuance - acquisition			30,946,249
Change in income taxes associated with net unrealized gains on available for sale securities	$ 4,000,000	$ 200,000	$ 3,800,000	$ 100,000
Changes in benefit plans net gain/(loss) and prior service (cost)/credit	500,000	(1,700,000)	600,000	(5,000,000)
Foreign currency translation reclassification adjustments	18,800,000	4,900,000	22,200,000	7,300,000
Foreign currency translation reclassification adjustments, tax	$ (20,400,000)	0	(33,500,000)	0
Benefit plans net gain/(loss) and prior service (cost), tax			(300,000)
Unrealized gains (losses) on investments net of reclassification adjustments of net gains		$ 300,000	0	$ 500,000
Income taxes associated with changes in fair values of derivatives qualifying as cash flow hedges			0
Reclassification adjustments impacting net income related to changes in fair value of derivatives qualifying as cash flow hedges			$ 0

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule Of Common Stock Activity) (Details)	9 Months Ended
	Sep. 30, 2015shares
Equity Activity [Line Items]
Common stock Outstanding, Beginning balance	180,920,575
Common stock issuance - acquisition	30,946,249
Restricted stock issued	1,192,325
Repurchase of common stock	(11,631,838)
Shares held to cover taxes on vesting restricted shares and other	(499,523)
Employee stock purchase plan participation	24,599
Common stock Outstanding, Ending balance	200,952,387
Common Stock [Member]
Equity Activity [Line Items]
Common stock Outstanding, Beginning balance	203,127,291
Restricted stock issued	1,192,325
Employee stock purchase plan participation	24,599
Common stock Outstanding, Ending balance	204,344,215
Treasury Stock [Member]
Equity Activity [Line Items]
Common stock Outstanding, Beginning balance	(22,206,716)
Common stock issuance - acquisition	30,946,249
Repurchase of common stock	(11,631,838)
Shares held to cover taxes on vesting restricted shares and other	(499,523)
Common stock Outstanding, Ending balance	(3,391,828)

Stockholders' Equity (Component

Stockholders' Equity (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Stockholders' Equity [Abstract]
Foreign currency translation adjustments, Gross Unrealized	$ (75.3)	$ (75.4)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Gross Unrealized	(59.8)	(58.7)
Unrealized net gains (losses) on available for sale securities, Gross Unrealized	(9.7)
Total accumulated other comprehensive loss, Gross Unrealized	(144.8)	(134.1)
Foreign currency translation adjustments, Income Taxes	(33.5)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Income Taxes		0.2
Changes in fair values of derivatives qualifying as cash flow hedges, Income Taxes	0.2
Unrealized net gains (losses) on available for sale securities, Income Taxes	3.8
Total accumulated other comprehensive loss, Income Taxes	(29.5)	0.2
Foreign currency translation adjustments, Net Unrealized	(108.8)	(75.4)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Net Unrealized	(59.6)	(58.5)
Unrealized net gains (losses) on available for sale securities, Net Unrealized	(5.9)
Total accumulated other comprehensive loss, Net Unrealized	$ (174.3)	$ (133.9)	$ (82.1)	$ (73.6)

Stockholders' Equity (Changes I

Stockholders' Equity (Changes In Accumulated Other Comprehensive Loss By Component) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			$ (133.9)	$ (73.6)
AOCI activity before reclassification			(63.2)	(21.3)
Amounts reclassified from AOCI	$ 19.3	$ 6.9	22.8	12.8
Other comprehensive income (loss), net of tax	(15.5)	(4.6)	(40.4)	(8.5)
Balance	(174.3)	(82.1)	(174.3)	(82.1)
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(75.4)	(49.4)
AOCI activity before reclassification			(55.6)	(20.9)
Amounts reclassified from AOCI			22.2	7.3
Other comprehensive income (loss), net of tax			(33.4)	(13.6)
Balance	(108.8)	(63)	(108.8)	(63)
Foreign Currency Translation Adjustments[Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			(58.5)	(24.1)
AOCI activity before reclassification			(1.7)
Amounts reclassified from AOCI			0.6	5
Other comprehensive income (loss), net of tax			(1.1)	5
Balance	(59.6)	$ (19.1)	(59.6)	(19.1)
Unrealized Gains (Losses) On Available For Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				(0.2)
AOCI activity before reclassification				0.2
Other comprehensive income (loss), net of tax				0.2
Changes In Fair Values Of Derivatives Qualifying As Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				0.1
AOCI activity before reclassification			(5.9)	(0.6)
Amounts reclassified from AOCI				0.5
Other comprehensive income (loss), net of tax			(5.9)	$ (0.1)
Balance	$ (5.9)		$ (5.9)

Stockholders' Equity (Reclassif

Stockholders' Equity (Reclassifications Out Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount	$ 19.9	$ 7.1	$ 23.5	$ 13.1
(Gains)/Losses, Tax	(0.6)	(0.2)	(0.7)	(0.3)
Net Amount	19.3	6.9	22.8	12.8
Foreign Currency Translation Adjustments[Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount			0.6	5
Foreign Currency Translation Adjustments[Member] | Operating Expense [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount	19.2	4.9	22.6	7.3
(Gains)/Losses, Tax	(0.4)		(0.4)
Net Amount	18.8	4.9	22.2	7.3
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount			22.2	7.3
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member] | Other Expense [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount	0.7	1.7	0.9	5
(Gains)/Losses, Tax	(0.2)		(0.3)
Net Amount	$ 0.5	$ 1.7	$ 0.6	5
Changes In Fair Values Of Derivatives Qualifying As Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount				$ 0.5
Changes In Fair Values Of Derivatives Qualifying As Cash Flow Hedges [Member] | Other Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount
(Gains)/Losses, Tax
Net Amount
Unrealized Gains (Losses) On Available For Sale Securities [Member] | Other Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount		$ 0.5		$ 0.8
(Gains)/Losses, Tax		(0.2)		(0.3)
Net Amount		$ 0.3		$ 0.5

Regulatory Capital (Narrative)

Regulatory Capital (Narrative) (Details)	9 Months Ended
	Sep. 30, 2015segment
Number of risk-weighting categories	4
CET1 miinimum ratio	4.50%
Tier 1 Capital minimum ratio	6.00%
Total Capital minimum ratio	8.00%
Minimum [Member]
Risk rating category percentage	0.00%
Standardized Approach, risk-sensitive nature of exposure, percentage	0.00%
Capital conservation buffer future yearly increase, percentage	0.625%
Midpoint 1 [Member]
Risk rating category percentage	20.00%
Midpoint 2 [Member]
Risk rating category percentage	50.00%
Maximum [Member]
Risk rating category percentage	100.00%
Standardized Approach, risk-sensitive nature of exposure, percentage	1250.00%
Final future percentage of capital conservation buffer	2.50%

Regulatory Capital (Tier 1 Capi

Regulatory Capital (Tier 1 Capital And Total Capital Components) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	$ 10,798.7		$ 9,068.9
Less: Goodwill	(1,135.1)		(571.3)
Investment in certain unconsolidated subsidiaries	(224.6)		(73.4)
Qualifying allowance for credit losses and other reserves	$ 335	$ 350.9	346.4	$ 357.7	$ 341	$ 356.1
Common Equity Tier 1 Capital (to risk-weighted assets)	4.50%
Total Capital (to risk-weighted assets), Actual	8.00%
Tier 1 Capital (to risk-weighted assets), Actual	6.00%
Percentage of net unrealized pretax gains permitted in Tier 2 capital on AFS equity securities	45.00%
CIT Group Inc [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total qualifying capital	$ 9,245.5		8,412.4
Risk-weighted assets	$ 69,610.6		$ 55,480.9
Common Equity Tier 1 Capital (to risk-weighted assets)	12.70%
Required Ratio for Capital Adequacy Purposes to be well capitalized	7.00%
Total Capital (to risk-weighted assets), Actual	12.70%		14.50%
Required Ratio for Capital Adequacy purposes to be well capitalized	8.50%		6.00%
Tier 1 Capital (to risk-weighted assets), Actual	13.30%		15.20%
Required Ratio for Capital Adequacy Purposes to be well capitalized	10.50%		10.00%
Tier 1 Leverage Ratio, Actual	15.20%		17.40%
Required Ratio for Capital Adequacy Purposes	4.00%		4.00%
CIT Bank [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total qualifying capital	$ 5,091.6		$ 2,781.5
Risk-weighted assets	$ 35,755.3		$ 19,552.3
Common Equity Tier 1 Capital (to risk-weighted assets)	13.30%
Required Ratio for Capital Adequacy Purposes to be well capitalized	7.00%
Total Capital (to risk-weighted assets), Actual	13.30%		13.00%
Required Ratio for Capital Adequacy purposes to be well capitalized	8.50%		6.00%
Tier 1 Capital (to risk-weighted assets), Actual	14.20%		14.20%
Required Ratio for Capital Adequacy Purposes to be well capitalized	10.50%		10.00%
Tier 1 Leverage Ratio, Actual	13.50%		12.20%
Required Ratio for Capital Adequacy Purposes	4.00%		4.00%
Tier 1 Capital [Member] | CIT Group Inc [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	$ 10,798.7		$ 9,068.9
Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interest	66		53
Adjusted total equity	10,864.7		9,121.9
Less: Goodwill	(1,068.4)		(571.3)
Disallowed deferred tax assets	(867.4)		(416.8)
Disallowed intangible assets	(59.2)		(25.7)
Investment in certain unconsolidated subsidiaries			(36.7)
Other Tier 1 components			(4.1)
Common Equity Tier One Capital	8,869.7		8,067.3
Tier 1 Capital	8,869.7		8,067.3
Tier 1 Capital [Member] | CIT Bank [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	5,555.7		2,716.4
Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interest	5.8		(0.2)
Adjusted total equity	5,561.5		2,716.2
Less: Goodwill	(765.8)		(167.8)
Disallowed intangible assets	(45.8)		(12.1)
Common Equity Tier One Capital	4,749.9		2,536.3
Tier 1 Capital	4,749.9		2,536.3
Tier 2 Capital [Member] | CIT Group Inc [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Investment in certain unconsolidated subsidiaries			(36.7)
Qualifying allowance for credit losses and other reserves	375.8		381.8
Tier 2 Capital [Member] | CIT Bank [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Qualifying allowance for credit losses and other reserves	341.7		245.1
Other Tier 2 components	$ 0.1		$ 0.1

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation Of Numerator And Denominator Of Basic EPS With Diluted EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income (loss) from continuing operation	$ 696.8	$ 515.4	$ 915.8	$ 825.5
Income (loss) from discontinued operation	(3.7)	(0.5)	(3.7)	53.5
Net income (loss)	$ 693.1	$ 514.9	$ 912.1	$ 879
Basic shares outstanding	190,557,000	185,190,000	180,300,000	190,465,000
Stock-based awards	1,246	1,099	1,050	968
Diluted shares outstanding	191,803,000	186,289,000	181,350,000	191,433,000
Basic earnings per share: Income (loss) from continuing operations	$ 3.66	$ 2.78	$ 5.08	$ 4.34
Basic earnings per share: Income (loss) from discontinued operation	(0.02)	0	(0.02)	0.28
Basic income per share	3.64	2.78	5.06	4.62
Diluted earnings per share: Income (loss) from continuing operations	3.63	2.76	5.05	4.31
Diluted earnings per share: Income (loss) from discontinued operation	(0.02)	0	(0.02)	0.28
Diluted income per share	$ 3.61	$ 2.76	$ 5.03	$ 4.59
Weighted average shares excluded from diluted earnings per share	1,900,000		1,700,000
CIT Group Inc. [Member]
Net income (loss)			$ 912.1	$ 879

Non-Interest Income (Schedule O

Non-Interest Income (Schedule Of Non-Interest Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Rental income on operating leases	$ 539.3	$ 535	$ 1,601.6	$ 1,546.5
Factoring commissions	30.9	31.1	87.4	88
Gains on sales of leasing equipment	30.7	22	84.2	46.4
Fee revenues	28.3	23.6	76.2	67
Gains on investments	2	5.3	6.5	14.4
Counterparty receivable accretion				10.7
Loss on OREO sales	(3.2)		(3.2)
(Loss) gains on loan and portfolio sales	(14.7)	9.8	(6)	17.8
Net losses on derivatives and foreign currency exchange	(20.4)	(22.8)	(35.1)	(21.6)
Impairment on assets held for sale	(23.6)	(54.1)	(44.7)	(69.5)
Other revenues	9.2	9.3	23.8	35.8
Total other income	39.2	24.2	189.1	189
Total non-interest income	$ 578.5	$ 559.2	1,790.7	1,735.5
CIT Group Inc. [Member]
Total other income			$ 70	$ 51.1

Non-Interest Expenses (Schedule

Non-Interest Expenses (Schedule Of Non-Interest Expenses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Depreciation on operating lease equipment	$ (159.1)	$ (156.4)	$ (473.7)	$ (462.5)
Maintenance and other operating lease expenses	(55.9)	(46.5)	(151.4)	(147.1)
Intangible assets amortization	(5)	(0.4)	(6.1)	(0.5)
Provision for severance and facilities existing activities	(5.1)	(9.2)	(5.2)	(24.7)
Advertising and marketing	(7.4)	(7.5)	(23.3)	(23.7)
Net occupancy expense	(14.8)	(9.1)	(32.8)	(26.5)
Technology	(29.9)	(21.2)	(77.1)	(63)
Professional fees	(57.3)	(22)	(97.6)	(56.9)
Compensation and benefits	(160.4)	(130.3)	(442.5)	(394.9)
Other expenses	(54)	(34.8)	(125.9)	(102.8)
Total operating expenses	(333.9)	(234.5)	(810.5)	(693)
Loss on debt extinguishments	(0.3)		(0.4)	(0.4)
Total non-interest/other expenses	$ (549.2)	$ (437.4)	(1,436)	(1,303)
CIT Group Inc. [Member]
Total operating expenses			$ 160.8	$ 141.7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Percent	23.00%		0.00%	27.00%	5.00%
Provision for income taxes	$ 560		$ 401.2	$ 478.2	$ 369.6
Net discrete items	593		400.6	598	$ 394.6
Tax benefit from deferred tax asset valuation allowance	647
Decrease due to settlement of audits		$ 9
Tax expense from prior year tax positions	2
Increase in deferred tax liabilities	28
Annual limitation on use of NOLs						$ 264.7
Operating Loss Carryforwards						5,700
NOL, No longer subject to limitation						1,000
Deferred tax assets, valuation allowance	690			$ 690		1,000
Number of years in loss position				3 years
Liability for uncertain tax positions	75.4			$ 75.4		53.7
Uncertain tax positions, Increase from prior period positions	14
Uncertain tax positions, Increase related to acquisition	21
Uncertain tax positions, Increase related to favorable tax ruling		$ 9
Decrease in goodwill related to purchase price accounting adjustments	6
Estimated decrease in uncertain tax positions	30			30
Accrual for interest and penalties	$ 29.5			$ 29.5		13.3
Scenario, Forecast [Member]
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Percent				27.00%	29.00%
Pre-Emergence [Member]
Income Tax Contingency [Line Items]
Operating Loss Carryforwards						3,000
U.S. Federal [Member]
Income Tax Contingency [Line Items]
Tax benefit from deferred tax asset valuation allowance			375		$ 375
Deferred tax assets, valuation allowance						700
State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax benefit from deferred tax asset valuation allowance			$ 30		30
Deferred tax assets, valuation allowance						300
Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance						$ 141
CIT Group Inc. [Member]
Income Tax Contingency [Line Items]
Provision for income taxes				$ (770.2)	$ (677.1)
Minimum [Member]
Income Tax Contingency [Line Items]
NOL expiration year						2,027
Maximum [Member]
Income Tax Contingency [Line Items]
NOL expiration year						2,033

Commitments (Narrative) (Detail

Commitments (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
Commitments [Line Items]
Financing commitments on which criteria for funding have not been completed	$ 1,138	$ 355
Financing commitments to Trade Finance clients that are cancelable only after a notice period, amount	391	112
Additional funding commitments	1,700	1,300
Line of Credit Facility, Maximum Borrowing Capacity	1,500
Other liabilities	3,395.7	2,888.8
Commitments and investments that qualify for community reinvestment tax credit	20
Deferred Purchase Agreements [Member]
Commitments [Line Items]
DPA credit protection provided to clients	1,703	1,775
DPA credit line agreements net of Deferred Purchase Agreement credit protection	89	79
Other liabilities	$ 4.9	5.2
Contractual Commitments [Member]
Commitments [Line Items]
Railcars | item	9,800
Purchase and Funding Commitments [Member]
Commitments [Line Items]
Aircraft remaining to be purchased, contractual commitments | item	148
Equipment purchase commitment	$ 200
Maximum [Member]
Commitments [Line Items]
Typical notice period	90 days
Maximum [Member] | Deferred Purchase Agreements [Member]
Commitments [Line Items]
DPA credit line agreements, cancellation notice period	90 days
Minimum [Member]
Commitments [Line Items]
Percent required of claim amount for loan service	98.00%
CIT Group Inc. [Member]
Commitments [Line Items]
Other liabilities	$ 858.7	$ 614.7
OneWest Bank [Member]
Commitments [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	1,000
Net exposure for loan commitments	47
OneWest Bank [Member] | Maximum [Member]
Commitments [Line Items]
FDIC Indemnification Asset, Additional Estimated Losses	200
OneWest Bank [Member] | Minimum [Member]
Commitments [Line Items]
FDIC Indemnification Asset, Period Increase (Decrease)	$ 200

Commitments (Summary Of Commitm

Commitments (Summary Of Commitments) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Commitments [Abstract]
Financing and leasing assets - Due to Expire Within One Year	$ 1,674.7
Financing and leasing assets - Due to Expire After One Year	5,826.7
Financing and leasing assets - Total Outstanding	7,501.4	$ 4,747.9
Standby letters of credit - Due to Expire Within One Year	37.1
Standby letters of credit - Due to Expire After One Year	323.8
Standby letters of credit - Total Outstanding	360.9	360.1
Other letters of credit - Due to Expire Within One Year	17.9
Other letters of credit - Due to Expire After One Year	0.1
Other letters of credit - Total Outstanding	18	28.3
Deferred purchase credit protection agreements - Due to Expire Within One Year	1,791.6
Deferred purchase credit protection agreements - Total Outstanding	1,791.6	1,854.4
Guarantees, acceptances and other recourse obligations - Due to Expire Within One Year	1.4
Guarantees, acceptances and other recourse obligations - Total Outstanding	1.4	2.8
Aerospace manufacturer purchase commitments - Due To Expire Within One Year	869
Aerospace manufacturer purchase commitments - Due To Expire After One Year	9,444.1
Aerospace manufacturer purchase commitments - Total Outstanding	10,313.1	10,820.4
Rail and other manufacturer purchase commitments - Due to Expire Within One Year	1,124.8
Rail and other manufacturer purchase commitments - Due to Expire After One Year	154.5
Rail and other manufacturer purchase commitments - Total Outstanding	$ 1,279.3	$ 1,323.2

Contingencies (Details)

Contingencies (Details) BRL in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)defendantlawsuit	Sep. 30, 2015BRLlawsuit	Sep. 30, 2015USD ($)lawsuit	Jun. 30, 2015USD ($)	Jul. 06, 2013item
Contingencies [Line Items]
Reasonably possible litigation losses in excess of established reserves and insurance | $				$ 80
Potential aggregate exponsure in taxes, fines and interest		BRL 79,000	$ 20,000
Maximum [Member]
Contingencies [Line Items]
Accrued liability estimable losses | $	$ 26,400
Itu And Cascavel [Member] | Tax Years 2006-2011 [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed		533	135
Taxes Paid To Espirito Santo [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed		66,700	21,500
Sao Paulo [Member] | Tax Years 2006 to 2009 [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed		74,400	18,800
Sao Paulo [Member] | Tax Years 2004-2007 [Member]
Contingencies [Line Items]
Tax assessments and penalties claimed		BRL 4,000	$ 1,000
Alleged actual tax rate paid	8.80%
Required tax rate	18.00%
Lac-Mgantic, Quebec Derailment [Member]
Contingencies [Line Items]
Number of locomotives					5
Number of rail tank cars					72
Number of deceased					40
Number of buildings destroyed					30
Number of lawsuits filed | lawsuit	20
Number of lawsuits in which parent company is named defendant | lawsuit		7	7
Number of other defendants | defendant	13
Number of cases not consolidated | lawsuit		2	2
CIT Group Inc. [Member] | Lac-Mgantic, Quebec Derailment [Member]
Contingencies [Line Items]
Number of rail tank cars					9
Number of rail tank cars for which parent company is lessor to third party					2
Ocwen Loan Servicing, LLC ("Ocwen") [Member] | Indemnification Agreement [Member]
Contingencies [Line Items]
Indemnifications, aggregate amount | $			$ 150,000
Cumulative payments for claims arising from servicing errors | $	$ 36,600
Indemnification obligation expiration, term	3 years
Service transfer date, term of liability	90 days

Certain Relationships And Re131

Certain Relationships And Related Transactions (Details) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)propertysegment	Jun. 30, 2015USD ($)property	Sep. 30, 2015USD ($)segment	Dec. 31, 2014USD ($)property
Related Party Transaction [Line Items]
Obligatory amount, outstanding	$ 17,400		$ 17,400
Credit facility, amount	$ 0		$ 0	$ 0
Number of joint ventures | segment	2		2
Other assets	$ 3,538,400		$ 3,538,400	2,106,700
Office License Agreement [Member] | IMB Holdco LLC [Member]
Related Party Transaction [Line Items]
Monthly lease payment			$ 33
Effective termination date			Aug. 31, 2015
Dune Capital (Mr. Mnuchin) [Member] | Ratpac-Dune Entertainment LLC [Member]
Related Party Transaction [Line Items]
Equity interest percentage	17.00%		17.00%
Strategic Credit Partners Holdings LLC [Member]
Related Party Transaction [Line Items]
Equity interest percentage	10.00%		10.00%
Loans sold in joint venture	$ 49,000		$ 49,000
Tatira 2, LLC ("Tatira") [Member]
Related Party Transaction [Line Items]
Commitment amount on facility	$ 31,100		$ 31,100
Equity interest percentage	50.00%		50.00%
Revolving Credit Facility [Member] | Ratpac-Dune Entertainment LLC [Member]
Related Party Transaction [Line Items]
Credit facility, amount	$ 300,000		$ 300,000
Revolving Credit Facility [Member] | CIT Bank [Member]
Related Party Transaction [Line Items]
Commitment amount on facility	17,800		17,800
Amount outstanding in credit facility			5,900
Investments In Non-Consolidated Entities [Member]
Related Party Transaction [Line Items]
Other assets	$ 225,000		225,000	$ 73,000
TC-CIT Aviation [Member]
Related Party Transaction [Line Items]
Number of commercial aircrafts sold | property	4	1		14
Aggregate value of commercial aircrafts	$ 200,000	$ 45,000	200,000	$ 600,000
Sears Holdings Corp. [Member]
Related Party Transaction [Line Items]
Obligatory amount	131,000		131,000
Obligatory amount, outstanding	29,000		29,000
OneWest Bank [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Commitment amount on facility	43,600		43,600
Amount outstanding in credit facility			42,200
Loan commitment deposit	$ 34,000		$ 34,000

Business Segment Information (N

Business Segment Information (Narrative) (Details) $ in Millions	1 Months Ended	9 Months Ended
	Aug. 31, 2015USD ($)	Sep. 30, 2015USD ($)segmentstore		Dec. 31, 2014USD ($)	[1]	Sep. 30, 2014USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment		4
Number of branches | store		70
Assets held for sale		$ 2,154.3	[1]	$ 1,218.1		$ 1,102.7
Mexico [Member]
Segment Reporting Information [Line Items]
Pre-tax loss on portfolio	$ 19
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interest in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Business Segment Information (S

Business Segment Information (Segment Pre-Tax Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Interest income	$ 437.7		$ 308.3	$ 1,002.5		$ 920.3
Interest expense	(280.3)		(275.2)	(816.8)		(809.3)
Provision for credit losses	(49.9)		(38.2)	(102.9)		(85.1)
Rental income on operating leases	539.3		535	1,601.6		1,546.5
Other income	39.2		24.2	189.1		189
Depreciation on operating lease equipment	(159.1)		(156.4)	(473.7)		(462.5)
Maintenance and other operating lease expenses	(55.9)		(46.5)	(151.4)		(147.1)
Operating expenses	(333.9)		(234.5)	(810.5)		(693)
Loss on debt extinguishments	(0.3)			(0.4)		(0.4)
Income (loss) from continuing operations before (provision) benefit for income taxes	136.8		116.7	437.5		458.4
Loans	32,406.2		19,785.8	32,406.2		19,785.8	$ 19,495
Credit balances of factoring clients	(1,609.3)		(1,433.2)	(1,609.3)		(1,433.2)	(1,622.1)
Assets for sale	2,154.3	[1]	1,102.7	2,154.3	[1]	1,102.7	1,218.1	[1]
Operating lease equipment, net	15,538.2	[1]	15,183.8	15,538.2	[1]	15,183.8	14,930.4	[1]
CIT Group Inc. [Member]
Segment Reporting Information [Line Items]
Interest income				327.7		445.5
Interest expense				430.2		492.9
Other income				70		51.1
Operating expenses				160.8		141.7
Income (loss) from continuing operations before (provision) benefit for income taxes				128.4		(260.4)
Transportation And International Finance [Member]
Segment Reporting Information [Line Items]
Interest income	73.8		68.8	212.1		217.7
Interest expense	(155)		(165.3)	(488.5)		(481.1)
Provision for credit losses	(1.5)		(9.1)	(11.7)		(29.8)
Rental income on operating leases	506.6		501.4	1,502.7		1,446.1
Other income	22.9		18.8	73.8		36.4
Depreciation on operating lease equipment	(137.6)		(132.8)	(410.4)		(386.1)
Maintenance and other operating lease expenses	(55.9)		(46.5)	(151.4)		(147.1)
Operating expenses	(68.4)		(73.8)	(227.8)		(228.8)
Income (loss) from continuing operations before (provision) benefit for income taxes	184.9		161.5	498.8		427.3
Loans	3,305.5		3,687.7	3,305.5		3,687.7	3,558.9
Assets for sale	1,047.9		464.7	1,047.9		464.7
Operating lease equipment, net	15,287.3		14,931.2	15,287.3		14,931.2
North American Banking [Member]
Segment Reporting Information [Line Items]
Interest income	275.6		215.8	670.7		618
Interest expense	(72.2)		(74.2)	(219.6)		(211.2)
Provision for credit losses	(46.9)		(29.7)	(89.7)		(55.5)
Rental income on operating leases	28.5		24.7	83.6		72.6
Other income	58.2		71.1	193.7		202.6
Depreciation on operating lease equipment	(21.5)		(20.1)	(63.3)		(62)
Operating expenses	(185.9)		(125.9)	(456)		(367.6)
Income (loss) from continuing operations before (provision) benefit for income taxes	35.8		61.7	119.4		196.9
Loans	23,501.3		16,098	23,501.3		16,098	15,936
Credit balances of factoring clients	(1,609.3)		(1,433.2)	(1,609.3)		(1,433.2)
Assets for sale	990.6		85.3	990.6		85.3
Operating lease equipment, net	250.9		252.6	250.9		252.6
Legacy Consumer Mortgages [Member]
Segment Reporting Information [Line Items]
Interest income	62.8			62.8
Interest expense	(14)			(14)
Provision for credit losses	(1.5)		0	(1.5)
Other income	(0.9)			(0.9)
Operating expenses	(16.9)			(16.9)
Income (loss) from continuing operations before (provision) benefit for income taxes	29.5			29.5
Loans	5,599.4			5,599.4
Assets for sale	36.9			36.9
Non-Strategic Portfolios [Member]
Segment Reporting Information [Line Items]
Interest income	7.2		20.4	29.7		74.4
Interest expense	(6.1)		(18.6)	(26.1)		(66.5)
Provision for credit losses			0.7			0.4
Rental income on operating leases	4.2		8.9	15.3		27.8
Other income	(21.8)		(47.1)	(35.3)		(38.8)
Depreciation on operating lease equipment			(3.5)			(14.4)
Operating expenses	(4.5)		(16.9)	(27.8)		(56.6)
Income (loss) from continuing operations before (provision) benefit for income taxes	(21)		(56.1)	(44.2)		(73.7)
Loans			0.1			0.1	$ 0.1
Assets for sale	78.9		552.7	78.9		552.7
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Interest income	18.3		3.3	27.2		10.2
Interest expense	(33)		(17.1)	(68.6)		(50.5)
Provision for credit losses			(0.1)			(0.2)
Other income	(19.2)		(18.6)	(42.2)		(11.2)
Operating expenses	(58.2)		(17.9)	(82)		(40)
Loss on debt extinguishments	(0.3)			(0.4)		(0.4)
Income (loss) from continuing operations before (provision) benefit for income taxes	$ (92.4)		$ (50.4)	$ (166)		$ (92.1)
[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Company's interest in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Goodwill And Intangible Asse134

Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	Aug. 03, 2015	Aug. 01, 2014	Jan. 31, 2014	Jan. 31, 2014	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Business Acquisition [Line Items]
Goodwill acquired					$ 598
Intangible assets acquired					185.9
Net intangible assets					201.3	$ 25.7	$ 25.7
Accumulated amortization of intangible assets					34.9		32.1
Projected amortization for the twelve months ended September 30, 2016					31.6
Projected amortization for the twelve months ended September 30, 2017					29.1
Projected amortization for the twelve months ended September 30, 2018					27.7
Projected amortization for the twelve months ended September 30, 2019					26.9
Projected amortization for the twelve months ended September 30, 2020					26.4
Nacco [Member]
Business Acquisition [Line Items]
Percentage of outstanding shares acquired			100.00%	100.00%
Purchase price			$ 250	$ 250
Goodwill acquired				$ 77
Direct Capital [Member]
Business Acquisition [Line Items]
Percentage of outstanding shares acquired		100.00%
Purchase price		$ 230
Goodwill acquired		170
Intangible assets acquired		12
Net intangible assets		$ 10
OneWest Bank [Member]
Business Acquisition [Line Items]
Percentage of outstanding shares acquired	100.00%
Purchase price	$ 3,391.6
Goodwill acquired	598
Intangible assets acquired	186
Core Deposit Intangibles [Member]
Business Acquisition [Line Items]
Intangible assets acquired					$ 126.3
Estimated useful life					7 years
Net intangible assets					$ 123.3
Accumulated amortization of intangible assets					$ 3
Operating Lease Rental Intangibles [Member]
Business Acquisition [Line Items]
Estimated useful life					5 years
Net intangible assets					$ 7.6	11.5	11.5
Accumulated amortization of intangible assets					27.8		$ 31.2
Legacy Consumer Mortgages [Member]
Business Acquisition [Line Items]
Goodwill acquired					$ 259.2
Legacy Consumer Mortgages [Member] | OneWest Bank [Member]
Business Acquisition [Line Items]
Goodwill acquired	$ 259.2
Immaterial Correction [Member]
Business Acquisition [Line Items]
Accumulated amortization of intangible assets						$ (35)

Goodwill And Intangible Asse135

Goodwill And Intangible Assets (Summary Of Goodwill) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 571.3
Additions	598
Other activity	(34.2)
Goodwill, Ending Balance	1,135.1
Transportation And International Finance [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	252
Other activity	(5.2)
Goodwill, Ending Balance	246.8
North American Banking [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	319.3
Additions	338.8
Other activity	(29)
Goodwill, Ending Balance	629.1
Legacy Consumer Mortgages [Member]
Goodwill [Line Items]
Additions	259.2
Goodwill, Ending Balance	259.2
CIT Group Inc. [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	334.6
Goodwill, Ending Balance	$ 319.6

Goodwill And Intangible Asse136

Goodwill And Intangible Assets (Summary Of Intangible Assets) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Intangible Assets [Abstract]
Gross Carrying Amount		$ 236.2	$ 57.8
Accumulated Amortization		(34.9)	(32.1)
Net Carrying Amount	$ 25.7	201.3	25.7
Intangible Assets Rollforward
Intangible Assets, Beginning Balance	25.7
Additions	185.9
Amortization	(2.6)
Other	(7.7)
Intangible Assets, Ending Balance	201.3
Customer Relationships [Member]
Intangible Assets [Abstract]
Gross Carrying Amount		27.5	7.2
Accumulated Amortization		(1.9)	(0.4)
Net Carrying Amount	6.8	25.6	6.8
Intangible Assets Rollforward
Intangible Assets, Beginning Balance	6.8
Additions	20.3
Amortization	(1.5)
Intangible Assets, Ending Balance	25.6
Core Deposit Intangibles [Member]
Intangible Assets [Abstract]
Gross Carrying Amount		126.3
Accumulated Amortization		(3)
Net Carrying Amount	123.3	123.3
Intangible Assets Rollforward
Additions	126.3
Amortization	(3)
Intangible Assets, Ending Balance	123.3
Trade Names [Member]
Intangible Assets [Abstract]
Gross Carrying Amount		43.6	7.4
Accumulated Amortization		(1.8)	(0.5)
Net Carrying Amount	6.9	41.8	6.9
Intangible Assets Rollforward
Intangible Assets, Beginning Balance	6.9
Additions	36.4
Amortization	(1.3)
Other	(0.2)
Intangible Assets, Ending Balance	41.8
Operating Lease Rental Intangibles [Member]
Intangible Assets [Abstract]
Gross Carrying Amount		35.4	42.7
Accumulated Amortization		(27.8)	(31.2)
Net Carrying Amount	11.5	7.6	11.5
Intangible Assets Rollforward
Intangible Assets, Beginning Balance	11.5
Amortization	3.6
Other	(7.5)
Intangible Assets, Ending Balance	7.6
Other [Member]
Intangible Assets [Abstract]
Gross Carrying Amount		3.4	0.5
Accumulated Amortization		(0.4)
Net Carrying Amount	0.5	$ 3	$ 0.5
Intangible Assets Rollforward
Intangible Assets, Beginning Balance	0.5
Additions	2.9
Amortization	(0.4)
Intangible Assets, Ending Balance	$ 3

Parent Company Financial Sta137

Parent Company Financial Statements (Condensed Parent Company Only Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Cash and deposits	$ 1,653.6	$ 878.5
Securities purchased under agreements to resell	100	650
Investment securities	3,618.8	1,550.3
Goodwill	1,135.1	571.3
Other assets	3,538.4	2,106.7
Total Assets	68,125.5	47,880
Borrowings	19,320.5	18,455.8
Other liabilities	3,395.7	2,888.8
Total Liabilities	57,326.3	38,816.5
Total Stockholders' Equity	10,798.7	9,068.9
Total Liabilities and Equity	68,125.5	47,880
CIT Group Inc. [Member]
Cash and deposits	1,034.7	1,432.6
Cash held at bank subsidiary	25.4	20.3
Securities purchased under agreements to resell	100	650
Investment securities	900	1,104.2
Receivables from nonbank subsidiaries	8,091.6	10,735.2
Receivables from bank subsidiaries	30.6	321.5
Investment in nonbank subsidiaries	5,745	6,600.1
Investment in bank subsidiaries	5,555.7	2,716.4
Goodwill	319.6	334.6
Other assets	2,110.9	1,625.2
Total Assets	23,913.5	25,540.1
Borrowings	10,725	11,932.4
Liabilities to nonbank subsidiaries	1,531.1	3,924.1
Other liabilities	858.7	614.7
Total Liabilities	13,114.8	16,471.2
Total Stockholders' Equity	10,798.7	9,068.9
Total Liabilities and Equity	$ 23,913.5	$ 25,540.1

Parent Company Financial Sta138

Parent Company Financial Statements (Condensed Parent Company Only Statement Of Operations And Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest income from nonbank subsidiaries	$ 437.7	$ 308.3	$ 1,002.5	$ 920.3
Other interest and dividends	23.5	8.4	41.1	25.6
Other income	39.2	24.2	189.1	189
Interest expense	280.3	275.2	816.8	809.3
Other expenses	333.9	234.5	810.5	693
Income from continuing operations before (provision) benefit for income taxes	136.8	116.7	437.5	458.4
Benefit for income taxes	(560)	(401.2)	(478.2)	(369.6)
Income from continuing operations, before attribution of noncontrolling interests	696.8	517.9	915.7	828
Net income (loss)	693.1	514.9	912.1	879
Comprehensive income (loss) before noncontrolling interests and discontinued operation	$ 681.3	$ 513.3	875.3	819.5
CIT Group Inc. [Member]
Interest income from nonbank subsidiaries			327.7	445.5
Other interest and dividends			2.9	1.6
Dividends from bank subsidiaries			459.2	34.4
Other income from subsidiaries			(101.7)	(21.4)
Other income			70	51.1
Total income			758.1	511.2
Interest expense			(430.2)	(492.9)
Interest expense on liabilities to subsidiaries			(38.7)	(137)
Other expenses			(160.8)	(141.7)
Total expenses			(629.7)	(771.6)
Income from continuing operations before (provision) benefit for income taxes			128.4	(260.4)
Benefit for income taxes			770.2	677.1
Income from continuing operations, before attribution of noncontrolling interests			898.6	416.7
Equity in undistirbuted net income of bank subsidiaries			(313.9)	56.4
Equity in undistributed net income of nonbank subsidiaries			327.4	405.9
Net income (loss)			912.1	879
Other comprehensive income (loss), net of tax			(40.4)	(8.5)
Comprehensive income (loss) before noncontrolling interests and discontinued operation			$ 871.7	$ 870.5

Parent Company Financial Sta139

Parent Company Financial Statements (Condensed Parent Company Only Statements Of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income (loss)	$ 693.1	$ 514.9	$ 912.1	$ 879
Net cash flows used in operations			780.8	841.1
Acquisitions			2,521.2	(448.2)
Net cash flows provided by investing activities			1,148.3	(885.7)
Proceeds from the issuance of term debt			1,670.6	2,866
Repayments of term debt			(3,854.5)	(4,116.5)
Repurchase of common stock			(577.4)	(658)
Dividends paid			(84.4)	(67.5)
Net cash flows used in financing activities			(661.2)	98.4
Net decrease in unrestricted cash and cash equivalents			1,267.9	53.8
Unrestricted cash and cash equivalents, beginning of period			6,155.5	5,081.1
Unrestricted cash and cash equivalents, end of period	7,423.4	5,134.9	7,423.4	5,134.9
CIT Group Inc. [Member]
Net income (loss)			912.1	879
Equity in undistributed earnings of subsidiaries			(472.6)	(462.3)
Other operating activities, net			(583.2)	(610.5)
Net cash flows used in operations			(143.7)	(193.8)
Decrease (increase) in investments and advances to subsidiaries			1,074.9	(105.9)
Acquisitions			(1,559.5)	0
Decrease in Investment securities and securities purchased under agreements to resell			754.2	1,117.2
Net cash flows provided by investing activities			269.6	1,011.3
Proceeds from the issuance of term debt			0	991.3
Repayments of term debt			(1,208.2)	(1,300)
Repurchase of common stock			(531.8)	(658)
Dividends paid			(84.4)	(67.4)
Net change in liabilities to subsidiaries			1,305.7	(532.1)
Net cash flows used in financing activities			(518.7)	(1,566.2)
Net decrease in unrestricted cash and cash equivalents			(392.8)	(748.7)
Unrestricted cash and cash equivalents, beginning of period			1,452.9	1,595.5
Unrestricted cash and cash equivalents, end of period	$ 1,060.1	$ 846.8	$ 1,060.1	$ 846.8