Citizens Financial (CFG) 10-K 17 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36636
Entity Registrant Name	CITIZENS FINANCIAL GROUP INC/RI
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	05-0412693
Entity Address, Address Line One	One Citizens Plaza
Entity Address, City or Town	Providence
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02903
City Area Code	203
Local Phone Number	900-6715
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 17,591,222,864
Entity Common Stock, Shares Outstanding		484,106,460
Documents Incorporated by Reference	Portions of Citizens Financial Group, Inc.’s proxy statement to be filed with the United States Securities and Exchange Commission in connection with Citizens Financial Group, Inc.’s 2023 annual meeting of stockholders (the “Proxy Statement”) are incorporated by reference into Part III hereof. Such Proxy Statement will be filed within 120 days of Citizens Financial Group, Inc.’s fiscal year ended December 31, 2022.
Entity Central Index Key	0000759944
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	CFG
Security Exchange Name	NYSE
Series D
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/40th interest in a share of 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D
Trading Symbol	CFG PrD
Security Exchange Name	NYSE
Series E
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/40th interest in a share of 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E
Trading Symbol	CFG PrE
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	34

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
ASSETS:
Cash and due from banks		$ 1,489	$ 1,155
Interest-bearing cash and due from banks		9,058	8,003
Interest-bearing deposits in banks		303	316
Debt securities available for sale, at fair value (including $— and $640 pledged to creditors, respectively)	[1]	24,007	26,067
Debt securities held to maturity (fair value of $— and $2,289, respectively, and including $— and $77 pledged to creditors, respectively)	[1]	9,834	2,242
Loans held for sale, at fair value		774	2,733
Other loans held for sale		208	735
Loans and leases		156,662	128,163
Less: Allowance for loan and lease losses		(1,983)	(1,758)
Net loans and leases		154,679	126,405
Derivative assets		842	1,216
Premises and equipment, net		844	768
Bank-owned life insurance		3,236	2,843
Goodwill		8,173	7,116
Other intangible assets	[2]	197	64
Other assets		13,089	8,746
TOTAL ASSETS		226,733	188,409
Deposits:
Noninterest-bearing		49,283	49,443
Interest-bearing		131,441	104,918
Total deposits		180,724	154,361
Short-term borrowed funds		3	74
Derivative liabilities		1,909	197
Long-term borrowed funds		15,887	6,932
Other liabilities		4,520	3,425
TOTAL LIABILITIES		203,043	164,989
Commitments and Contingencies (refer to Note 19)
Preferred Stock:
$25.00 par value,100,000,000 shares authorized; 2,050,000 shares issued and outstanding at December 31, 2022 and 2021		2,014	2,014
Common stock:
$0.01 par value, 1,000,000,000 shares authorized; 645,220,018 shares issued and 492,282,158 shares outstanding at December 31, 2022 and 571,259,135 shares issued and 422,137,197 shares outstanding at December 31, 2021		6	6
Additional paid-in capital		22,142	19,005
Retained earnings		9,159	7,978
Treasury stock, at cost, 152,937,860 and 149,121,938 shares at December 31, 2022 and 2021, respectively		(5,071)	(4,918)
Accumulated other comprehensive income (loss)		(4,560)	(665)
TOTAL STOCKHOLDERS’ EQUITY		23,690	23,420
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$ 226,733	$ 188,409
[1]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.[2]Excludes MSRs, which are reported in Other assets.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
ASSETS:
Debt securities, available for sale, at fair value pledged to creditors	[1]	$ 24,007	$ 26,067
Debt securities held-to-maturity, fair value	[1]	9,042	2,289
Asset-backed investments included in HTM securities	[1]	$ 9,834	$ 2,242
STOCKHOLDERS’ EQUITY:
Preferred stock, par value (in dollars per share)		$ 25	$ 25
Preferred stock, authorized (in shares)		100,000,000	100,000,000
Preferred stock, issued (in shares)		2,050,000	2,050,000
Preferred stock, outstanding (in shares)		2,050,000	2,050,000
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, authorized (in shares)		1,000,000,000	1,000,000,000
Common stock, issued (in shares)		645,220,018	571,259,135
Common stock, outstanding (in shares)		492,282,158	422,137,197
Treasury stock (in shares)		152,937,860	149,121,938
Asset Pledged as Collateral
ASSETS:
Debt securities, available for sale, at fair value pledged to creditors		$ 270	$ 640
Asset-backed investments included in HTM securities	[1]	$ 110	$ 77
[1]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
INTEREST INCOME:
Interest and fees on loans and leases	$ 5,968	$ 4,253	$ 4,719
Interest and fees on loans held for sale	67	82	75
Interest and fees on other loans held for sale	57	13	33
Investment securities	840	487	519
Interest-bearing deposits in banks	128	16	11
Total interest income	7,060	4,851	5,357
INTEREST EXPENSE:
Deposits	651	160	509
Short-term borrowed funds	23	1	2
Long-term borrowed funds	374	178	260
Total interest expense	1,048	339	771
Net interest income	6,012	4,512	4,586
Provision (benefit) for credit losses	474	(411)	1,616
Net interest income after provision (benefit) for credit losses	5,538	4,923	2,970
NONINTEREST INCOME:
Service charges and fees	420	409	403
Capital markets fees	368	428	250
Card fees	273	250	217
Mortgage banking fees	261	434	915
Trust and investment services fees	249	239	203
Foreign exchange and derivative products	188	120	120
Letter of credit and loan fees	159	156	140
Securities gains, net	9	10	4
Other income	82	89	67
Total noninterest income	2,009	2,135	2,319
NONINTEREST EXPENSE:
Salaries and employee benefits	2,549	2,132	2,123
Outside services	700	595	553
Equipment and software	648	610	565
Occupancy	410	333	331
Other operating expense	585	411	419
Total noninterest expense	4,892	4,081	3,991
Income before income tax expense	2,655	2,977	1,298
Income tax expense	582	658	241
NET INCOME	2,073	2,319	1,057
Net income available to common stockholders	$ 1,960	$ 2,206	$ 950
Weighted-average common shares outstanding:
Basic (in shares)	475,959,815	425,669,451	427,062,537
Diluted (in shares)	477,803,142	427,435,818	428,157,780
Per common share information:
Basic earnings (in dollars per share)	$ 4.12	$ 5.18	$ 2.22
Diluted earnings (in dollars per share)	$ 4.10	$ 5.16	$ 2.22

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 2,073	$ 2,319	$ 1,057
Other comprehensive income (loss):
Net unrealized derivative instruments gains (losses) arising during the periods, net of income taxes of ($466), ($17) and $33, respectively	(1,340)	(49)	97
Reclassification adjustment for net derivative (gains) losses included in net income, net of income taxes of $30, ($34) and ($38), respectively	85	(101)	(111)
Net unrealized debt securities gains (losses) arising during the periods, net of income taxes of ($868), ($172) and $124, respectively	(2,608)	(528)	382
Reclassification of net debt securities (gains) losses to net income, net of income taxes of ($2), ($2) and ($1), respectively	(7)	(8)	(3)
Employee benefit plans:
Actuarial gain (loss), net of income taxes of ($15), $19 and ($10), respectively	(37)	55	(27)
Reclassification of actuarial (gain) loss to net income, net of income taxes of $2, $7 and $4, respectively	12	26	13
Total other comprehensive income (loss), net of income taxes	(3,895)	(605)	351
Total comprehensive income (loss)	$ (1,822)	$ 1,714	$ 1,408

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net unrealized derivative instrument gains (losses) arising during the periods, tax	$ (466)	$ (17)	$ 33
Reclassification adjustment for net derivative losses (gains) included in net income, tax	30	(34)	(38)
Net unrealized debt securities gains (losses) arising during the periods, tax	(868)	(172)	124
Reclassification of net debt securities gains to net income, tax	(2)	(2)	(1)
Actuarial (loss) gain, tax	(15)	19	(10)
Amortization of actuarial loss, tax	$ 2	$ 7	$ 4

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock, at Cost	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2019			2,000,000	433,000,000
Beginning balance at Dec. 31, 2019	$ 22,201	$ (331)	$ 1,570	$ 6	$ 18,891	$ 6,498	$ (331)	$ (4,353)	$ (411)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to common stockholders	(672)					(672)
Dividends to preferred stockholders	(107)					(107)
Preferred stock issued	395		$ 395
Treasury stock purchased (in shares)				(8,000,000)
Treasury stock purchased	(270)							(270)
Share-based compensation plans (in shares)				1,000,000
Share-based compensation plans	30				30
Employee stock purchase plan (in shares)				1,000,000
Employee stock purchase plan	19				19
Total comprehensive income (loss):
Net income	1,057					1,057
Other comprehensive income (loss)	351								351
Total comprehensive income (loss)	1,408					1,057			351
Ending balance (in shares) at Dec. 31, 2020			2,000,000	427,000,000
Ending balance at Dec. 31, 2020	22,673		$ 1,965	$ 6	18,940	6,445		(4,623)	(60)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to common stockholders	(670)					(670)
Dividends to preferred stockholders	(113)					(113)
Preferred stock issued	296		296
Preferred stock redemption	$ (250)		$ (247)			(3)
Treasury stock purchased (in shares)	(6,455,636)			(6,000,000)
Treasury stock purchased	$ (295)							(295)
Share-based compensation plans (in shares)				1,000,000
Share-based compensation plans	43				43
Employee stock purchase plan	22				22
Total comprehensive income (loss):
Net income	2,319					2,319
Other comprehensive income (loss)	(605)								(605)
Total comprehensive income (loss)	1,714					2,319			(605)
Ending balance (in shares) at Dec. 31, 2021			2,000,000	422,000,000
Ending balance at Dec. 31, 2021	23,420		$ 2,014	$ 6	19,005	7,978		(4,918)	(665)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to common stockholders	(779)					(779)
Dividends to preferred stockholders	(113)					(113)
Issuance of common stock - business acquisition (in shares)				72,000,000
Issuance of common stock - business acquisition	$ 3,036				3,036
Treasury stock purchased (in shares)	(3,815,922)			(4,000,000)
Treasury stock purchased	$ (153)							(153)
Share-based compensation plans (in shares)				2,000,000
Share-based compensation plans	77				77
Employee stock purchase plan	24				24
Total comprehensive income (loss):
Net income	2,073					2,073
Other comprehensive income (loss)	(3,895)								(3,895)
Total comprehensive income (loss)	(1,822)					2,073			(3,895)
Ending balance (in shares) at Dec. 31, 2022			2,000,000	492,000,000
Ending balance at Dec. 31, 2022	$ 23,690		$ 2,014	$ 6	$ 22,142	$ 9,159		$ (5,071)	$ (4,560)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Net income		$ 2,073	$ 2,319	$ 1,057
Adjustments to reconcile net income to net change in cash due to operating activities:
Provision (benefit) for credit losses		474	(411)	1,616
Net change in loans held for sale		1,733	1,085	32
Depreciation, amortization and accretion		565	625	578
Deferred income taxes		57	(429)	(238)
Share-based compensation		84	59	48
Net gain on sale of assets		(9)	(11)	(4)
Net (increase) decrease in other assets		(1,894)	(1,719)	(3,979)
Net increase (decrease) in other liabilities		1,036	757	1,001
Net change due to operating activities		4,119	2,275	111
Investment securities:
Purchases of debt securities available for sale		(10,776)	(12,406)	(9,271)
Proceeds from maturities and paydowns of debt securities available for sale		3,422	7,810	6,943
Proceeds from sales of debt securities available for sale		1,178	790	585
Proceeds from maturities and paydowns of debt securities held to maturity		1,035	1,006	897
Net (increase) decrease in interest-bearing deposits in banks		13	(10)	(9)
Acquisitions, net of cash acquired	[1]	(255)	(165)	(3)
Purchases of loans		(1,007)	(3,778)	(3,315)
Sales of loans		2,677	934	3,014
Net (increase) decrease in loans and leases		(7,927)	(3,177)	(4,794)
Capital expenditures, net		(126)	(124)	(118)
Purchases of bank-owned life insurance		(100)	(1,050)	0
Other		(771)	(316)	(65)
Net change due to investing activities		(12,637)	(10,486)	(6,136)
FINANCING ACTIVITIES
Net increase (decrease) in deposits		6,146	7,197	21,851
Net increase (decrease) in short-term borrowed funds		(95)	(154)	(39)
Proceeds from issuance of long-term borrowed funds		24,617	0	8,323
Repayments of long-term borrowed funds		(19,691)	(1,352)	(14,022)
Treasury stock purchased		(153)	(295)	(270)
Net proceeds from issuance of preferred stock		0	296	395
Redemption of preferred stock		0	(250)	0
Dividends declared and paid to common stockholders		(779)	(670)	(672)
Dividends declared and paid to preferred stockholders		(113)	(113)	(98)
Premium paid to exchange debt		0	(1)	(80)
Payments of employee tax withholding for share-based compensation		(25)	(22)	(16)
Net change due to financing activities		9,907	4,636	15,372
Net change in cash and cash equivalents	[2]	1,389	(3,575)	9,347
Cash and cash equivalents at beginning of period	[2]	9,158	12,733	3,386
Cash and cash equivalents at end of period	[2]	10,547	9,158	12,733
Supplemental disclosures:
Interest paid		989	347	837
Income taxes paid		183	1,247	261
Non-cash items:
Transfer of securities from available for sale to held to maturity		8,563	0	813
Loans securitized and transferred to securities available for sale		143	260	956
Loans securitized and transferred to securities held to maturity		0	0	111
Stock issued for share-based compensation plans		77	43	30
Stock issued for Employee Stock Purchase Plan		24	22	19
Investors Acquisition:
Fair value of assets acquired, excluding cash and cash equivalents		27,113	0	0
Goodwill and other intangible assets		992	0	0
Fair value of liabilities assumed		24,982	0	0
Common stock issued		3,036	0	0
Replacement equity awards		$ 19	$ 0	$ 0
[1]Primarily includes cash paid of $355 million to acquire Investors less $287 million in cash acquired, and $143 million and $23 million of cash paid for the HSBC transaction and acquisition of DH Capital, respectively, for the year ended December 31, 2022. See Note 2 for more detailed information regarding these acquisitions.[2]Cash and cash equivalents include cash and due from banks and interest-bearing cash and due from banks as reflected on the Consolidated Balance Sheets

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Investors Acquisition
Cash consideration	$ 355
Cash and equivalents	287
Online Deposit Business And 80 East Coast Branches Of HSBC Bank
Cash consideration	143
DH Capital, LLC
Cash consideration	$ 23

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 - BASIS OF PRESENTATION The accounting and reporting policies of Citizens Financial Group, Inc. conform to GAAP. The Company’s principal business activity is banking, conducted through its subsidiary CBNA. The Company also provides M&A, capital raising and other financial advisory services to middle market companies across a focused set of industry verticals through its broker-dealers. The Consolidated Financial Statements include the accounts of Citizens and subsidiaries in which Citizens has a controlling financial interest. All intercompany transactions and balances have been eliminated. The Company has evaluated its unconsolidated entities and does not believe that any entity in which it has an interest, but does not currently consolidate, meets the requirements to be consolidated as a variable interest entity. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the ACL. Significant Accounting Policies The following table identifies the Company’s significant accounting policies and the Note and Page where a detailed description of each policy can be found. Note Page Cash and Due From Banks 3 97 Securities 4 97 Loans and Leases 5 101 Allowance for Credit Losses 6 103 Premises, Equipment and Software 7 116 Mortgage Servicing Rights 8 117 Leases 9 119 Goodwill and Intangible Assets 10 120 Variable Interest Entities 11 122 Derivative Instruments 14 126 Employee Benefits 15 129 Treasury Stock 17 131 Employee Share-Based Compensation 18 133 Fair Value Measurement 20 135 Revenue Recognition 21 142 Income Taxes 23 144 Earnings Per Share 24 147 Accounting Pronouncements Adopted in 2022 Pronouncement Summary of Guidance Effects on Financial Statements Reference Rate Reform - Deferral of the Sunset Date December 2022 • This standard was effective upon issuance. • Deferred the sunset date of the temporary relief provided by ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting from December 31, 2022 to December 31, 2024. • The Company adopted this standard upon issuance. • Adoption did not have a material impact on the Company’s Consolidated Financial Statements.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	NOTE 2 - ACQUISITIONS Acquisition of HSBC On February 18, 2022, CBNA closed on its previously announced HSBC transaction, which included 66 branches in the New York City metropolitan area, 9 branches in the Mid-Atlantic/Washington D.C. area, and 5 branches in Southeast Florida. The acquired liabilities and assets included approximately $6.3 billion in deposits and $1.5 billion in loans. The transaction resulted in an increase to goodwill of $120 million, which was allocated to the Consumer business segment as of December 31, 2022. The impact of the HSBC transaction, along with supplemental pro forma information as if the HSBC transaction had occurred on January 1, 2021, are not material to the Company’s Consolidated Statements of Operations. The HSBC transaction was accounted for as a business combination. Accordingly, the assets acquired and liabilities assumed from HSBC were recorded at fair value as of the transaction date. The determination of fair value requires management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and are subject to change. The fair value of the assets acquired and liabilities assumed from HSBC were deemed final as of June 30, 2022 and are not material to the Company’s Consolidated Balance Sheet. Investors Acquisition On April 6, 2022, Citizens completed its previously announced Investors acquisition pursuant to an agreement and plan of merger entered into on July 28, 2021. Pursuant to the terms of the agreement, Investors merged with Citizens, with Citizens as the surviving corporation, and Investors Bank, a New Jersey state-chartered bank and wholly-owned subsidiary of Investors, merged with CBNA, with CBNA as the surviving bank. The Investors acquisition builds Citizens’ physical presence in the Mid-Atlantic region with the addition of 154 branches located in the greater New York City and Philadelphia metropolitan areas and across New Jersey. Upon closing of the acquisition, each share of Investors common stock was converted into 0.297 of a share of the Company’s common stock. This conversion, coupled with the conversion of equity awards noted below under “Share-Based Compensation Activity”, resulted in an increase of approximately 73.6 million basic and diluted shares. The Company also paid $1.46 in cash to shareholders of Investors for each share they owned. The Investors acquisition was accounted for as a business combination. Accordingly, the assets acquired and liabilities assumed from Investors were recorded at fair value as of the closing date. The determination of fair value requires management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and are subject to change. Fair value estimates related to the assets acquired and liabilities assumed from Investors are subject to adjustment for up to one year after the closing date if new information is obtained about facts and circumstances that existed as of the closing date that, if known, would have affected the measurement of the amounts recognized as of that date. Citizens considers its valuation of certain other assets and other liabilities to be preliminary as of December 31, 2022. While the Company believes the information available as of April 6, 2022 provides a reasonable basis for estimating fair value, additional information may become available that could result in adjustments to the fair values presented, although any such adjustments are not expected to be material. Any adjustments identified during the one year period subsequent to the closing date will be recognized in the corresponding reporting period. Share-Based Compensation Activity Under the terms of the merger agreement with Investors, stock options and restricted shares granted by Investors that were outstanding as of April 6, 2022 were converted into CFG awards and remain subject to their original terms and conditions. Citizens issued 1,151,301 stock options and 259,316 restricted shares in connection with the transaction. The following table includes a preliminary allocation of the consideration paid for the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Investors: (in millions, except share and per share data) April 6, 2022 Consideration CFG common shares issued 72,148,855 CFG share price on April 6, 2022 $42.08 Fair value of consideration for outstanding common stock $3,036 Cash paid 355 Consideration related to equity awards 19 Fair value of merger consideration 3,410 Assets acquired Cash and equivalents 287 Investment securities 3,826 Loans held for sale 2,162 Net loans and leases 20,139 Premises and equipment 62 Core deposit intangible and other intangible assets 119 Other assets 924 Total assets acquired 27,519 Liabilities assumed Deposits 20,217 Borrowed funds 4,097 Other liabilities 668 Total liabilities assumed 24,982 Less: Net assets 2,537 Goodwill $873 Preliminary goodwill of $873 million recorded in connection with the acquisition resulted from the expected synergies, operational efficiencies and expertise of Investors. The amount of goodwill recorded reflects the increased market share and related synergies that are expected to result from the acquisition, and represents the excess purchase price over the estimated fair value of the net assets acquired from Investors. The goodwill was allocated to the Company’s two business operating segments on a preliminary basis and is not deductible for income tax purposes. Intangible assets from the Investors acquisition consist of core deposits and naming rights. For additional information on these intangibles and goodwill see Note 10. The following table includes the fair value and unpaid principal balance of the loans acquired from Investors: April 6, 2022 (in millions) Unpaid Principal Balance Fair Value Commercial and industrial $3,021 $2,899 Commercial real estate 13,310 13,065 Leases 9 9 Total commercial 16,340 15,973 Residential mortgages 3,949 3,889 Home equity 267 273 Other retail 4 4 Total retail 4,220 4,166 Net loans and leases $20,560 $20,139 Fair value is estimated as of April 6, 2022 and reflects a credit mark of $101 million on PCD funded loans recorded through purchase accounting, and an accretable discount of $320 million comprised of $179 million in interest rate mark and $141 million in non-PCD credit mark. The following is a description of the methods used to determine the fair value of significant assets and liabilities: Cash and Equivalents The carrying amount of cash and cash equivalents is a reasonable estimate of fair value based on the short-term nature of these assets. Investment Securities Fair value estimates for AFS securities were determined by third-party pricing vendors. The third-party vendors use a variety of methods when pricing securities that incorporate relevant market data to arrive at an estimate of what a buyer in the marketplace would pay for a security under current market conditions. These methods include the use of quoted prices for an identical or similar security and an alternative market-based or income approach like the discounted cash flow pricing model. Substantially all of the investment securities acquired in connection with the Investors acquisition were sold subsequent to closing to align with Citizens’ portfolio management strategy. Loans held for sale Loans held for sale are valued based on quoted market prices, where available, prices for other traded loans with similar characteristics, and purchase commitments and bid information from market participants. The prices are adjusted as necessary to take into consideration the specific characteristics of certain loans that are priced based on the pricing of similar loans. Loans and Leases Fair values for loans and leases are based on a discounted cash flow methodology that considered factors including type of loan and lease and related collateral, fixed or variable interest rate, term, amortization status, credit loss and prepayment expectations, market interest rates and other market factors (e.g., liquidity) from the perspective of a market participant. Loans and leases were grouped together according to similar characteristics when applying various valuation techniques. The discount rates used are based on current market rates for new originations of comparable loans and leases and include adjustments for liquidity. The probability of default, loss given default, exposure at default and prepayment assumptions are the key factors driving credit losses which are embedded into the estimated cash flows. Premises and Equipment Fair value of premises is based on a market approach using third-party appraisals and broker opinions of value for land, office and branch space. Core Deposit Intangible Fair value of core deposit intangible represents the value of certain client deposit relationships, estimated utilizing the favorable source of funds method. Appropriate consideration was given to deposit costs including servicing costs, client retention and alternative funding source costs at the time of acquisition. The discount rate used was derived taking into account the estimated cost of equity, risk-free return rate and risk premium for the market, and specific risk related to the asset’s cash flows. The core deposit intangible is being amortized over 10 years using an accelerated depreciation methodology. Deposits Fair value of time deposits was estimated by discounting contractual cash flows using current market rates for instruments with similar maturities. For deposits with no defined maturity, carrying value approximates fair value. Borrowed Funds The fair value of borrowed funds was estimated by using a discounted cash flow methodology based on current incremental borrowing rates for similar types of instruments. The following table presents the financial results of Investors included in the Consolidated Statements of Operations from the date of acquisition through December 31, 2022: (in millions) April 6, 2022 through December 31, 2022 Net interest income $627 Noninterest income 37 Net income 287 The following table presents unaudited supplemental pro forma financial information as if the Investors acquisition had occurred on January 1, 2021 and includes the impact of (i) amortizing and accreting fair value adjustments associated with loans and leases, (ii) the amortization of recognized intangible assets and the elimination of Investors’ historical amortization of these assets, (iii) the elimination of Investors’ historical accretion and amortization of deferred fees and costs on loans and leases, (iv) the elimination of Investors’ historical accretion and amortization of discounts and premiums on loans and leases, debt securities and long-term borrowed funds and (v) the related estimated income tax effects. The pro forma financial information does not necessarily reflect the results that would have occurred had Citizens acquired Investors on January 1, 2021. Year Ended December 31, (in millions) 2022 2021 Net interest income $6,226 $5,342 Noninterest income 2,055 2,168 Net income (1) 2,408 2,376 (1) Excludes the acceleration of one-time executive compensation and Employee Stock Ownership Plan expenses of $122 million incurred by Investors in the first quarter of 2022. In addition, the supplemental pro forma financial information includes non-recurring acquisition-related costs of $335 million incurred during the year ended December 31, 2022, as summarized in the following table. These costs, along with the $13 million incurred during 2021, are included in the first quarter of 2021 for the purpose of reporting supplemental pro forma financial information presented above. (in millions) Year Ended December 31, 2022 Provision for credit losses (1) $145 Salaries and employee benefits (2) 83 Outside services (3) 61 Mark-to-market losses on LHFS portfolio (4) 31 Other operating expense 15 Total acquisition-related costs $335 (1) Represents the initial provision for credit losses also recognized through a fair value mark as required by purchase accounting. (2) Comprised primarily of severance and employee retention costs. (3) Comprised primarily of technology, legal, advisory, and other professional related fees. (4) Represents mark-to-market losses on loans acquired from Investors classified as LHFS. Under CECL, Citizens is required to determine whether purchased loans held for investment have experienced more-than-insignificant deterioration in credit quality since origination. Citizens considers a variety of factors in connection with the identification of more-than-insignificant deterioration in credit quality including, but not limited to, nonperforming status, delinquency, risk ratings, TDR classification, FICO scores and other qualitative factors. Citizens initially measures the amortized cost of a PCD loan by adding the acquisition date estimate of expected credit losses to the loan's purchase price. The initial ALLL for PCD loans of $101 million was established through an adjustment to the Investors loan balance and related purchase accounting mark. Non-PCD loans and PCD loans had a fair value of $15.6 billion and $4.5 billion at the acquisition date and unpaid principal balance of $15.9 billion and $4.7 billion, respectively. In accordance with U.S. GAAP there was no carryover of the ACL that had been previously recorded by Investors. Subsequent to the acquisition, Citizens recorded an ACL on non-PCD loans of $145 million through provision expense for credit losses. The following table presents PCD loan activity at the date of acquisition: (in millions) April 6, 2022 Principal balance $4,685 ALLL at acquisition (101) Non-credit discount (72) Purchase price $4,512 Acquisition of DH Capital On June 8, 2022, Citizens completed the acquisition of DH Capital, a private investment banking firm serving companies in the internet infrastructure, software, IT services and communications sectors. The fair value of the assets acquired and liabilities assumed in connection with this acquisition were deemed final as of December 31, 2022 and are not material to the Company’s Consolidated Balance Sheet. The impact of the DH Capital acquisition, along with supplemental pro forma information as if the DH Capital acquisition had occurred on January 1, 2021, are not material to the Company’s Consolidated Statements of Operations.

CASH AND DUE FROM BANKS

CASH AND DUE FROM BANKS	12 Months Ended
	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
CASH AND DUE FROM BANKS	NOTE 3 - CASH AND DUE FROM BANKS For the purpose of reporting cash flows, cash and cash equivalents have original maturities of three months or less and include cash and due from banks and interest-bearing cash and due from banks. The Company had no material restrictions on the use or availability of its cash as of December 31, 2022 or 2021.

SECURITIES

SECURITIES	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
SECURITIES	NOTE 4 - SECURITIES Investments include debt and equity securities and other investment securities. Citizens classifies debt securities as AFS, HTM, or trading based on management’s intent to hold to maturity at the time of purchase. Management reserves the right to change the initial classification of debt and equity securities purchased based on its intent to hold to maturity or as permitted by periodic changes in accounting guidance. Equity securities are recorded at fair value or at cost if there is not a readily determinable fair value. Debt securities that will be held for indefinite periods of time and may be sold in response to changes in interest rates, changes in prepayment risk, or other factors considered in managing the Company’s asset/liability strategy are classified as AFS and reported at fair value, with unrealized gains and losses reported in AOCI, net of taxes, as a separate component of stockholders’ equity. Gains and losses on the sales of securities are recognized in noninterest income and are computed using the specific identification method. Debt securities for which the Company has the ability and intent to hold to maturity are classified as HTM and reported at amortized cost. Transfers of debt securities to the HTM classification are recognized at fair value at the date of transfer. For debt securities classified as AFS or HTM, interest income is recorded on the accrual basis including the amortization of premiums and the accretion of discounts. Premiums and discounts on debt securities are amortized or accreted using the effective interest method over the estimated lives of the individual securities. Citizens uses actual prepayment experience and estimates of future prepayments to determine the constant effective yield necessary to apply the effective interest method of income recognition. Estimates of future prepayments are based on the underlying collateral characteristics of each security and are derived from market sources. Judgment is involved in making determinations about prepayment expectations and in changing those expectations in response to changes in interest rates and macroeconomic conditions. The amortization of premiums and the accretion of discounts associated with mortgage-backed securities may be significantly impacted by changes in prepayment assumptions. Securities classified as trading are bought and held principally for selling them in the near-term and carried at fair value, with changes in fair value recognized in earnings. When applicable, realized and unrealized gains and losses on such assets are reported in noninterest income in the Consolidated Statements of Operations. Equity securities are primarily composed of FHLB and FRB stock (which are carried at cost) and money market mutual fund investments held by the Company’s broker-dealers (which are carried at fair value, with changes in fair value recognized in noninterest income) and are recorded in other assets on the Consolidated Balance Sheets. Equity securities that are carried at cost are reviewed at least annually for impairment, with valuation adjustments recognized in noninterest income. The following table presents the major components of securities at amortized cost and fair value: December 31, 2022 December 31, 2021 (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and other $3,678 $1 ($193) $3,486 $11 $— $— $11 State and political subdivisions 2 — — 2 2 — — 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 21,250 10 (2,198) 19,062 24,607 210 (375) 24,442 Other/non-agency 280 — (29) 251 397 9 (1) 405 Total mortgage-backed 21,530 10 (2,227) 19,313 25,004 219 (376) 24,847 Collateralized loan obligations 1,248 — (42) 1,206 1,208 — (1) 1,207 Total debt securities available for sale, at fair value $26,458 $11 ($2,462) $24,007 $26,225 $219 ($377) $26,067 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities $9,253 $4 ($751) $8,506 $1,505 $52 $— $1,557 Total mortgage-backed 9,253 4 (751) 8,506 1,505 52 — 1,557 Asset-backed securities 581 — (45) 536 737 2 (7) 732 Total debt securities held to maturity $9,834 $4 ($796) $9,042 $2,242 $54 ($7) $2,289 Equity securities, at cost $1,058 $— $— $1,058 $624 $— $— $624 Equity securities, at fair value 153 — — 153 109 — — 109 Accrued interest receivable on debt securities totaled $107 million and $56 million as of December 31, 2022 and 2021, respectively, and is included in other assets in the Consolidated Balance Sheets. The following table presents the amortized cost and fair value of debt securities by contractual maturity as of December 31, 2022. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without incurring penalties. Distribution of Maturities (in millions) 1 Year or Less After 1 Year through 5 Years After 5 Years through 10 Years After 10 Years Total Amortized cost: U.S. Treasury and other $— $2,114 $1,564 $— $3,678 State and political subdivisions — — — 2 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 1 1,149 2,889 17,211 21,250 Other/non-agency — — — 280 280 Collateralized loan obligations — — 24 1,224 1,248 Total debt securities available for sale 1 3,263 4,477 18,717 26,458 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 9,253 9,253 Asset-backed securities — 581 — — 581 Total debt securities held to maturity — 581 — 9,253 9,834 Total amortized cost of debt securities $1 $3,844 $4,477 $27,970 $36,292 Fair value: U.S. Treasury and other $— $2,010 $1,476 $— $3,486 State and political subdivisions — — — 2 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 1 1,097 2,691 15,273 19,062 Other/non-agency — — — 251 251 Collateralized loan obligations — — 23 1,183 1,206 Total debt securities available for sale 1 3,107 4,190 16,709 24,007 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 8,506 8,506 Asset-backed securities — 536 — — 536 Total debt securities held to maturity — 536 — 8,506 9,042 Total fair value of debt securities $1 $3,643 $4,190 $25,215 $33,049 Taxable interest income from investment securities as presented in the Consolidated Statements of Operations was $840 million, $487 million and $519 million for the years ended December 31, 2022, 2021 and 2020, respectively. The following table presents realized gains and losses on sale of securities: Year Ended December 31, (in millions) 2022 2021 2020 Gains $13 $15 $6 Losses (4) (5) (2) Securities gains, net $9 $10 $4 The following table presents the amortized cost and fair value of debt securities pledged: December 31, 2022 December 31, 2021 (in millions) Amortized Cost Fair Value Amortized Cost Fair Value Pledged against derivatives, to qualify for fiduciary powers, or to secure public and other deposits as required by law $3,966 $3,527 $4,816 $4,782 Pledged as collateral for FHLB borrowing capacity 244 217 325 333 Pledged against repurchase agreements — — 1 1 The Company regularly enters into security repurchase agreements with unrelated counterparties, which involve the transfer of a security from one party to another, and a subsequent transfer of substantially the same security back to the original party. These repurchase agreements are typically short-term in nature and are accounted for as secured borrowed funds in the Company’s Consolidated Balance Sheets. The Company recognized no offsetting of short-term receivables or payables as of December 31, 2022 or 2021. The Company offsets certain derivative assets and derivative liabilities in the Consolidated Balance Sheets. For further information see Note 14. Securitizations of mortgage loans retained in the investment portfolio for the years ended December 31, 2022 and 2021 were $143 million and $260 million, respectively. These securitizations include a substantive guarantee by a third party. The guarantors were FNMA and FHLMC in 2022 and 2021, and also included GNMA in 2021. The debt securities received from the guarantors are classified as AFS. Impairment Upon purchase of HTM investment securities and at each subsequent measurement date, Citizens is required to evaluate the securities for risk of loss over their life and, if necessary, establish an associated reserve. Recognition of a reserve for expected credit losses is not required if the amount the Company expects to realize is zero (commonly referred to as “zero expected credit losses”). The Company evaluated its existing HTM portfolio as of December 31, 2022 and concluded that in excess of 94% of HTM securities met the zero expected credit loss criteria and, therefore, no ACL was recognized. Lifetime expected credit losses on the remainder of the HTM portfolio were determined to be insignificant based on the modeling of the Company’s credit loss position in the securities. The Company monitors the credit exposure through the use of credit quality indicators. For these securities, the Company uses external credit ratings or an internally derived credit rating when an external rating is not available. All securities were determined to be investment grade at December 31, 2022. Citizens reviews its AFS debt securities for impairment at the individual security level on a quarterly basis, or more frequently if a potential loss triggering event occurs. The initial indicator of impairment for debt securities classified as AFS is a decline in fair value below its amortized cost basis. For any security that has declined in fair value below the amortized cost basis, the Company recognizes an impairment loss in current period earnings if management has the intent to sell the security or if it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. Estimating the recovery of the amortized cost basis of a debt security is based upon an assessment of the cash flows expected to be collected. If the present value of cash flows expected to be collected, discounted at the security’s original effective yield, is less than the amortized cost basis, impairment equal to the shortfall in cash flows has occurred. Citizens evaluates whether any portion of the impairment is attributable to credit-related factors or various other market factors affecting the fair value of the security (e.g., interest rates, spread levels, liquidity in the sector, etc.), and the public credit rating of the security. If credit-related factors exist, credit-related impairment has occurred regardless of the Company’s intent to hold the security until it recovers. The credit-related portion of impairment is recognized in current period earnings as provision expense through the establishment of an allowance for AFS securities, to the extent the allowance does not reduce the value of the AFS security below its current fair value. The remaining non-credit related portion of impairment is recognized in OCI. Improvement in credit losses in subsequent periods results in a reversal of the allowance for AFS securities and a corresponding decrease to provision expense, to the extent the allowance does not become negative. Accrued interest receivable on AFS debt securities is excluded from the balances used to calculate the allowance for AFS securities. All accrued and uncollected interest is immediately reversed against interest income when it is deemed uncollectible. The following tables present AFS debt securities with fair values below their respective carrying values, separated by the duration the securities have been in a continuous unrealized loss position: December 31, 2022 Less than 12 Months 12 Months or Longer Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses US Treasury and other $3,356 ($193) $— $— $3,356 ($193) Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 13,353 (1,136) 5,042 (1,062) 18,395 (2,198) Other/non-agency 80 (8) 171 (21) 251 (29) Total mortgage-backed securities 13,433 (1,144) 5,213 (1,083) 18,646 (2,227) Collateralized loan obligations 785 (26) 421 (16) 1,206 (42) Total $17,574 ($1,363) $5,634 ($1,099) $23,208 ($2,462) December 31, 2021 Less than 12 Months 12 Months or Longer Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Mortgage-backed securities: Federal agencies and U.S. government sponsored entities $14,131 ($320) $1,236 ($55) $15,367 ($375) Other/non-agency 123 (1) — — 123 (1) Total mortgage-backed securities 14,254 (321) 1,236 (55) 15,490 (376) Collateralized loan obligations 736 (1) — — 736 (1) Total $14,990 ($322) $1,236 ($55) $16,226 ($377)

LOANS AND LEASES

LOANS AND LEASES	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
LOANS AND LEASES	NOTE 5 - LOANS AND LEASES Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Management’s intent and view of the foreseeable future may change based on changes in business strategies and market conditions. Loans held for investment are reported at the amount of their outstanding principal, net of charge-offs, unearned income, deferred loan origination fees and costs, and unamortized premiums or discounts on purchased loans. Deferred loan origination fees and costs and purchase premiums and discounts are amortized as an adjustment of yield over the life of the loan, using the effective interest method. Unamortized amounts remaining upon prepayment or sale are recorded as interest income or gain (loss) on sale, respectively. Credit card receivables include billed and uncollected interest and fees. Interest income on loans is determined using the effective interest method. This method calculates periodic interest income at a constant effective yield on the net investment in the loan, to provide a constant rate of return over the term. Loans accounted for using the fair value option are measured at fair value with corresponding changes recognized in noninterest income. Loan commitment fees for loans that are likely to be drawn down, and other credit related fees, are deferred (together with any incremental costs) and recognized as an adjustment to the effective interest rate over the loan term. When it is unlikely that a loan will be drawn down, the loan commitment fees are recognized over the commitment period on a straight-line basis and are reported within letter of credit and loan fees in the Consolidated Statements of Operations. Loans and leases are disclosed in portfolio segments and classes. The Company’s loan and lease portfolio segments are commercial and retail. The classes of loans and leases are: commercial and industrial, commercial real estate, leases, residential mortgages, home equity, automobile, education and other retail. The following table presents loans and leases, excluding LHFS: December 31, (in millions) 2022 2021 Commercial and industrial $51,836 $44,500 Commercial real estate 28,865 14,264 Leases 1,479 1,586 Total commercial 82,180 60,350 Residential mortgages 29,921 22,822 Home equity 14,043 12,015 Automobile 12,292 14,549 Education 12,808 12,997 Other retail 5,418 5,430 Total retail 74,482 67,813 Total loans and leases $156,662 $128,163 Accrued interest receivable on loans and leases held for investment totaled $820 million and $450 million as of December 31, 2022 and 2021, respectively, and is included in other assets in the Consolidated Balance Sheets. Loans pledged as collateral for FHLB borrowing capacity, primarily residential mortgages and home equity products, totaled $38.4 billion and $26.1 billion at December 31, 2022 and 2021, respectively. Loans pledged as collateral to support the contingent ability to borrow at the FRB discount window, if necessary, were primarily comprised of education, automobile, commercial and industrial, and commercial real estate loans, and totaled $34.8 billion and $35.8 billion at December 31, 2022 and 2021, respectively. Loans are classified as held for sale when management does not have the intent and ability to hold the loan for the foreseeable future. LHFS for which the fair value option is not elected are carried at the lower of amortized cost or fair value less costs to sell, with any write-downs or subsequent recoveries recognized in other income in the Consolidated Statements of Operations. Citizens elected to account for residential mortgage LHFS and certain commercial and industrial, and commercial real estate LHFS at fair value. See Note 20 for additional information. The following table presents the composition of LHFS: December 31, 2022 December 31, 2021 (in millions) Residential Mortgages (1) Commercial (2) Total Residential Mortgages (1) Commercial (2) Total Loans held for sale at fair value $666 $108 $774 $2,657 $76 $2,733 Other loans held for sale — 208 208 — 735 735 (1) Residential mortgage LHFS are originated for sale. (2) Commercial LHFS at fair value consist of loans managed by the Company’s commercial secondary loan desk. Other commercial LHFS primarily consist of loans associated with the Company’s syndication business. Citizens is engaged in the leasing of equipment for commercial use, primarily focused on middle market and mid-corporate clients for large capital equipment acquisitions including railcars, trucks and trailers, and other equipment. The Company determines if an arrangement is a lease and the related lease classification at inception. Lease terms predominantly range from three A lessee is evaluated from a credit perspective using the same underwriting standards and procedures as for a loan borrower. A lessee is expected to make rental payments based on its cash flows and the viability of its operations. Leases are usually not evaluated as collateral-based transactions, and therefore the lessee’s overall financial strength is the most important credit evaluation factor. The components of the net investment in direct financing and sales-type leases, before ALLL, are presented below: (in millions) December 31, 2022 December 31, 2021 Total future minimum lease rentals $1,193 $1,195 Estimated residual value of leased equipment (non-guaranteed) 413 521 Initial direct costs 5 6 Unearned income (132) (136) Total leases $1,479 $1,586 Interest income on direct financing and sales-type leases for the years ended December 31, 2022, 2021 and 2020 was $46 million, $49 million and $64 million, respectively, and is reported within interest and fees on loans and leases in the Consolidated Statements of Operations. A maturity analysis of direct financing and sales-type lease receivables at December 31, 2022 is presented below: (in millions) 2023 $334 2024 247 2025 193 2026 144 2027 122 Thereafter 153 Total undiscounted future minimum lease rentals $1,193

ALLOWANCE FOR CREDIT LOSSES, NO

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK	NOTE 6 - ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK Allowance for Credit Losses Management’s estimate of expected credit losses in the Company’s loan and lease portfolios is recorded in the ALLL and the allowance for unfunded lending commitments (collectively the ACL). The ACL is maintained at a level the Company believes to be appropriate to absorb expected lifetime credit losses over the contractual life of the loan and lease portfolios and on the unfunded lending commitments. The determination of the ACL is based on periodic evaluation of the loan and lease portfolios and unfunded lending commitments that are not unconditionally cancellable considering a number of relevant underlying factors, including key assumptions and evaluation of quantitative and qualitative information. Upon adoption of CECL effective January 1, 2020, the Company’s ACL reserve methodology changed to estimate expected credit losses over the contractual life of loans and leases, resulting in a cumulative-effect reduction of $337 million, net of taxes of $114 million, to retained earnings and a corresponding increase to the ACL of $451 million. Key assumptions used in the ACL measurement process include the use of a two-year reasonable and supportable economic forecast period followed by a one-year reversion period to historical credit loss information. The evaluation of quantitative and qualitative information is performed through assessments of groups of assets that share similar risk characteristics and certain individual loans and leases that do not share similar risk characteristics with the collective group. Loans are grouped generally by product type (e.g., commercial and industrial, commercial real estate, residential mortgage), and significant loan portfolios are assessed for credit losses using econometric models. The quantitative evaluation of the adequacy of the ACL utilizes a single economic forecast as its foundation, and is primarily based on econometric models that use known or estimated data as of the balance sheet date and forecasted data over the reasonable and supportable period. Known and estimated data include current PD, LGD and EAD (for commercial), timing and amount of expected draws (for unfunded lending commitments), FICO, LTV, term and time on books (for retail loans), mix and level of loan balances, delinquency levels, assigned risk ratings, previous loss experience, current business conditions, amounts and timing of expected future cash flows, and factors particular to a specific commercial credit such as competition, business and management performance. Forward-looking economic assumptions include real gross domestic product, unemployment rate, interest rate curve, and changes in collateral values. This data is aggregated to estimate expected credit losses over the contractual life of the loans and leases, adjusted for expected prepayments. In highly volatile economic environments historical information, such as commercial customer financial statements or consumer credit ratings, may not be as important to estimating future expected losses as forecasted inputs to the models. The ACL may also be affected materially by a variety of qualitative factors that the Company considers to reflect current judgment of various events and risks that are not measured in the statistical procedures including uncertainty related to the economic forecasts used in the modeled credit loss estimates, loan growth, back testing results, credit underwriting policy exceptions, regulatory and audit findings, and peer comparisons. The qualitative allowance is further affected by sensitivity analysis for certain industry sectors or loan classes, including CRE office. The measurement process results in specific or pooled allowances for loans, leases and unfunded lending commitments, and qualitative allowances that are judgmentally determined and applied across the portfolio. There are certain loan portfolios that may not need an econometric model to enable the Company to calculate management’s best estimate of the expected credit losses. Less data intensive, non-modeled approaches to estimating losses are considered more efficient and practical for portfolios that have lower levels of outstanding balances (e.g., runoff or closed portfolios, new products or products that are not significant to the Company’s overall credit risk exposure). Loans and leases that do not share similar risk characteristics are individually assessed for expected credit losses. Nonaccrual commercial and industrial, and commercial real estate loans with an outstanding balance of $5 million or greater and all commercial and industrial, and commercial real estate TDRs (regardless of size) are assessed on an individual loan level basis. Generally, the measurement of ACL on individual loans and leases is the present value of its future cash flows or the fair value of its underlying collateral, if the loan or lease is collateral dependent. A loan is considered to be collateral dependent when repayment of the loan is expected to be provided solely by the underlying collateral, rather than by cash flows from the borrower’s operations, income or other resources. Loans that are deemed to be collateral dependent are written down to the fair value, less costs to sell, as of the evaluation date and are reassessed each subsequent period to determine if a change to the ACL is required. Subsequent evaluations may result in an increase or decrease to the ACL, based on a corresponding change in the fair value of the collateral during the period. Any subsequent decrease to the ACL (because of an increase to the collateral-dependent loan’s fair value) is limited to the total amount previously written off for that loan. For retail TDRs that are not collateral dependent, the ACL is developed using the present value of expected future cash flows compared to the amortized cost basis in the loans. Expected re-default factors are considered in this analysis. Retail TDRs that are deemed collateral dependent are written down to fair market value less cost to sell. Expected recoveries are considered in management’s estimate of the ACL and may result in a negative adjustment (i.e., reduction) to the ACL balance. A loan is collateral dependent if repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty as of the evaluation date. Generally, repayment would be expected to be provided substantially by the sale or continued operation of the underlying collateral if cash flows to repay the loan from all other available sources (including guarantors) are expected to be no more than nominal. If repayment is dependent only on the operation of the collateral, the fair value of the collateral would not be adjusted for estimated costs to sell. If a loan is considered collateral dependent, the ACL is calculated as the difference between the fair value of collateral (adjusted for the costs to sell if the sale of the collateral is expected) and the amortized cost basis as of the evaluation date. It is possible to have a negative ACL for a collateral dependent loan if the fair value of the collateral increases in a subsequent reporting period. The negative ACL cannot exceed the total amount previously charged off. Accrued interest receivable on loans and leases is excluded from asset balances used to calculate the ACL. All accrued and uncollected interest is immediately reversed against interest income when a loan or lease is placed on nonaccrual status. Uncollectible interest is written off timely in accordance with regulatory guidelines. Generally, loans and leases are placed on nonaccrual status when contractually past due 90 days or more, or earlier if management believes that the probability of collection is insufficient to warrant further accrual. Residential mortgages are placed on nonaccrual status when contractually past due 120 days or more, or sooner if deemed collateral dependent, unless guaranteed by the FHA, VA or USDA. Residential mortgages that received extended forbearance and were subsequently modified as a result of COVID-19 will be placed on nonaccrual sooner than those that were not on extended forbearance, and will return to accrual status only following a sustained period of repayment performance. The Company estimates expected credit losses associated with off-balance sheet financial instruments such as standby letters of credit, financial guarantees and unfunded loan commitments that are not unconditionally cancellable. Off-balance sheet financial instruments are subject to individual reviews and are analyzed and segregated by risk according to the Company’s internal risk rating scale. These risk classifications, in conjunction with historical loss experience, current and future economic conditions, timing and amount of expected draws, and performance trends within specific portfolio segments, result in the estimate of the allowance for unfunded lending commitments. The Company does not recognize a reserve for future draws from credit lines that are unconditionally cancellable (e.g., credit cards). The ALLL and the allowance for unfunded lending commitments are reported on the Consolidated Balance Sheets in the allowance for loan and lease losses and in other liabilities, respectively. Provision for credit losses related to the loan and lease portfolios and the unfunded lending commitments are reported in the Consolidated Statements of Operations as provision for credit losses. Loan Charge-Offs Commercial loans are charged off when available information indicates that a loan or portion thereof is determined to be uncollectible. The determination of whether to recognize a charge-off involves many factors, including the prioritization of the Company’s claim in bankruptcy, expectations of the workout/restructuring of the loan and valuation of the borrower’s equity or the loan collateral. Retail loans are generally fully charged-off or written down to the net realizable value of the underlying collateral, with an offset to the ALLL, upon reaching specified stages of delinquency in accordance with standards established by the FFIEC. Residential real estate loans, credit card loans and unsecured open-end loans are generally charged off in the month when the account becomes 180 days past due. Auto loans, education loans and unsecured closed end loans are generally charged off in the month when the account becomes 120 days past due. Certain retail loans will be charged off or charged down to their net realizable value earlier than the FFIEC charge-off standards in the following circumstances: • Loans modified in a TDR that are determined to be collateral-dependent. • Residential real estate loans that received extended forbearance and were subsequently modified as a result of COVID-19 • Loans to borrowers who have experienced an event (e.g., bankruptcy) that suggests a loss is either known or highly certain. ◦ Residential real estate and auto loans are charged down to fair value less costs to sell within 60 days of receiving notification of the bankruptcy filing, unless repayment is likely to occur, or when the loan subsequently becomes 60 days past due. ◦ Credit card loans are fully charged off within 60 days of receiving notification of the bankruptcy filing or other event. ◦ Education loans are generally charged off when the loan becomes 60 days past due after receiving notification of a bankruptcy. • Auto loans are written down to fair value less costs to sell upon repossession of the collateral. The following table presents a summary of changes in the ACL for the year ended December 31, 2022: Year Ended December 31, 2022 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $821 $937 $1,758 Allowance on PCD loans and leases at acquisition 99 2 101 Charge-offs (1) (70) (364) (434) Recoveries 18 146 164 Net charge-offs (52) (218) (270) Provision expense (benefit) for loans and leases (2) 192 202 394 Allowance for loan and lease losses, end of period 1,060 923 1,983 Allowance for unfunded lending commitments, beginning of period 153 23 176 Provision expense (benefit) for unfunded lending commitments 53 27 80 Allowance on PCD unfunded lending commitments at acquisition 1 — 1 Allowance for unfunded lending commitments, end of period 207 50 257 Total allowance for credit losses, end of period $1,267 $973 $2,240 (1) Excludes $34 million of charge-offs previously taken by Investors or recognized upon completion of the Investors acquisition under purchase accounting for the year ended December 31, 2022. The initial allowance for loan and lease losses on PCD assets included these amounts and, after charging these amounts off upon acquisition, the net impact for PCD assets was $101 million of additional allowance for loan and lease losses. (2) Includes $169 million of initial provision expense related to non-PCD loans and leases acquired from HSBC and Investors for the year ended December 31, 2022. During the year ended December 31, 2022, net charge-offs of $270 million, the ACL on PCD loans and leases and unfunded lending commitments at acquisition of $102 million, and a credit provision of $474 million resulted in an increase of $306 million to the ACL. The retail NCO ratio remained relatively flat compared to 2021. The commercial NCO ratio decreased compared to 2021, as credit performance remained strong. Our ACL as of December 31, 2022 accounts for an economic forecast over our two-year reasonable and supportable period with peak unemployment of approximately 6%, peak-to-trough GDP decline of approximately 1.4%, and collateral value peak-to-trough declines of approximately 13% in home and approximately 16% in used auto and truck. This forecast incorporates the increased risk of a moderate recession beginning in the fourth quarter of 2022 and persisting for four consecutive quarters. The following tables present a summary of changes in the ACL for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $1,233 $1,210 $2,443 Charge-offs (218) (321) (539) Recoveries 54 160 214 Net charge-offs (164) (161) (325) Provision expense (benefit) for loans and leases (248) (112) (360) Allowance for loan and lease losses, end of period 821 937 1,758 Allowance for unfunded lending commitments, beginning of period 186 41 227 Provision expense (benefit) for unfunded lending commitments (33) (18) (51) Allowance for unfunded lending commitments, end of period 153 23 176 Total allowance for credit losses, end of period $974 $960 $1,934 Year Ended December 31, 2020 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $674 $578 $1,252 Cumulative effect of change in accounting principle (176) 629 453 Allowance for loan and lease losses, beginning of period, adjusted 498 1,207 1,705 Charge-offs (437) (406) (843) Recoveries 12 138 150 Net charge-offs (425) (268) (693) Provision expense (benefit) for loans and leases 1,160 271 1,431 Allowance for loan and lease losses, end of period 1,233 1,210 2,443 Allowance for unfunded lending commitments, beginning of period 44 — 44 Cumulative effect of change in accounting principle (3) 1 (2) Allowance for unfunded lending commitments, beginning of period, adjusted 41 1 42 Provision expense (benefit) for unfunded lending commitments 145 40 185 Allowance for unfunded lending commitments, end of period 186 41 227 Total allowance for credit losses, end of period $1,419 $1,251 $2,670 Credit Quality Indicators The Company presents loan and lease portfolio segments and classes by credit quality indicator and vintage year. Citizens defines the vintage date for the purpose of this disclosure as the date of the most recent credit decision. In general, renewals are categorized as new credit decisions and reflect the renewal date as the vintage date. Loans modified in a TDR are considered a continuation of the original loan and vintage date corresponds with the most recent credit decision. For commercial loans and leases, Citizens utilizes regulatory classification ratings to monitor credit quality. The assignment of regulatory classification ratings occurs at loan origination and are periodically re-evaluated by Citizens utilizing a risk-based approach, including any time management becomes aware of information affecting the borrowers' ability to fulfill their obligations. The review process considers both quantitative and qualitative factors. Loans with a “pass” rating are those that the Company believes will fully repay in accordance with the contractual loan terms. Commercial loans and leases identified as “criticized” have some weakness or potential weakness that indicate an increased probability of future loss. Citizens groups “criticized” loans into three categories, “special mention,” “substandard,” and “doubtful.” Special mention loans have potential weaknesses that, if left uncorrected, may result in deterioration of the Company’s credit position at some future date. Substandard loans are inadequately protected loans; these loans have well-defined weaknesses that could hinder normal repayment or collection of the debt. Doubtful loans have the same weaknesses as substandard, with the added characteristic that the possibility of loss is high and collection of the full amount of the loan is improbable. Additional credit quality information is discussed below for each loan class. For commercial and industrial loans, Citizens monitors the performance of the borrower in a disciplined and regular manner based upon the level of credit risk inherent in the loan. To evaluate the level of credit risk, management assigns an internal risk rating reflecting the borrower’s PD and LGD. This two-dimensional credit risk rating methodology provides granularity in the risk monitoring process. These ratings are generally reviewed at least annually. The combination of the PD and LGD ratings assigned to commercial and industrial loans, capturing both the combination of expectations of default and loss severity in the event of default, reflects credit quality characteristics as of the reporting date and are used as inputs into the loss forecasting process. Based upon the amount of the lending arrangement and risk rating assessment, management periodically reviews each loan, prioritizing those loans which are perceived to be of higher risk, based upon PDs and LGDs, or loans for which credit quality is weakening (e.g., payment delinquency). Citizens proactively manages loans by using various procedures that are customized to the risk of a given loan, including ongoing outreach to the borrower, assessment of the borrower’s financial conditions and appraisal of the collateral. Credit risk associated with commercial real estate projects and commercial mortgages are managed similar to commercial and industrial loans by evaluating PD and LGD. Risks associated with commercial real estate activities tend to be correlated to the loan structure and collateral location, project progress and business environment. As a result, these attributes are also monitored and utilized in assessing credit risk. As with the commercial and industrial loan class, periodic reviews are also performed to assess market/geographic risk and business unit/industry risk, which may result in increased scrutiny on loans that are perceived to be of higher risk, had adverse changes in risk ratings and/or areas that concern management. These reviews are designed to assess risk and facilitate actions to mitigate such risks. Citizens manages credit risk associated with financing leases similar to commercial and industrial loans by analyzing PD and LGD. Reviews are generally performed annually based upon the dollar amount of the lease and the level of credit risk, and may be more frequent if circumstances warrant. The review process includes analysis of the following factors: equipment value/residual value, exposure levels, jurisdiction risk, industry risk, guarantor requirements, and regulatory compliance as applicable. Commercial loans with renewal terms in the original contract are recognized as current year originations upon renewal unless the loan automatically renewed with no new credit decision. Citizens generally reserves the right to not renew the loan or lease until current underwriting has been completed and approved. The following table presents the amortized cost basis of commercial loans and leases, by vintage date and regulatory classification rating, as of December 31, 2022: Term Loans by Origination Year Revolving Loans (in millions) 2022 2021 2020 2019 2018 Prior to 2018 Within the Revolving Period Converted to Term Total Commercial and industrial Pass $8,304 $8,469 $2,224 $2,074 $1,334 $1,952 $24,211 $148 $48,716 Special Mention 124 189 120 74 48 153 364 — 1,072 Substandard 150 218 203 255 99 349 597 14 1,885 Doubtful 10 14 1 5 41 14 76 2 163 Total commercial and industrial 8,588 8,890 2,548 2,408 1,522 2,468 25,248 164 51,836 Commercial real estate Pass 5,767 6,442 3,639 3,066 2,145 3,536 1,888 3 26,486 Special Mention 1 119 103 390 99 113 62 — 887 Substandard 92 18 79 253 350 610 23 — 1,425 Doubtful — 2 9 55 — 1 — — 67 Total commercial real estate 5,860 6,581 3,830 3,764 2,594 4,260 1,973 3 28,865 Leases Pass 263 363 250 99 128 345 — — 1,448 Special Mention 4 5 2 6 1 3 — — 21 Substandard — 4 3 3 — — — — 10 Doubtful — — — — — — — — — Total leases 267 372 255 108 129 348 — — 1,479 Total commercial Pass 14,334 15,274 6,113 5,239 3,607 5,833 26,099 151 76,650 Special Mention 129 313 225 470 148 269 426 — 1,980 Substandard 242 240 285 511 449 959 620 14 3,320 Doubtful 10 16 10 60 41 15 76 2 230 Total commercial $14,715 $15,843 $6,633 $6,280 $4,245 $7,076 $27,221 $167 $82,180 The following table presents the amortized cost basis of commercial loans and leases, by vintage date and regulatory classification rating, as of December 31, 2021: Term Loans by Origination Year Revolving Loans (in millions) 2021 2020 2019 2018 2017 Prior to 2017 Within the Revolving Period Converted to Term Total Commercial and industrial Pass $10,218 $3,336 $3,599 $2,284 $1,426 $1,863 $19,406 $122 $42,254 Special Mention 47 71 155 114 41 64 316 1 809 Substandard 97 112 215 81 50 201 521 17 1,294 Doubtful 1 9 9 22 10 16 74 2 143 Total commercial and industrial 10,363 3,528 3,978 2,501 1,527 2,144 20,317 142 44,500 Commercial real estate Pass 2,766 2,417 3,181 1,756 626 1,119 1,451 3 13,319 Special Mention 45 42 113 100 27 79 — — 406 Substandard 27 — 88 267 78 59 9 — 528 Doubtful 1 9 — — — 1 — — 11 Total commercial real estate 2,839 2,468 3,382 2,123 731 1,258 1,460 3 14,264 Leases Pass 447 262 134 144 66 459 — — 1,512 Special Mention 10 15 — 5 3 16 — — 49 Substandard 1 16 5 2 — — — — 24 Doubtful — — — — — 1 — — 1 Total leases 458 293 139 151 69 476 — — 1,586 Total commercial Pass 13,431 6,015 6,914 4,184 2,118 3,441 20,857 125 57,085 Special Mention 102 128 268 219 71 159 316 1 1,264 Substandard 125 128 308 350 128 260 530 17 1,846 Doubtful 2 18 9 22 10 18 74 2 155 Total commercial $13,660 $6,289 $7,499 $4,775 $2,327 $3,878 $21,777 $145 $60,350 For retail loans, Citizens utilizes FICO credit scores and the loan’s payment and delinquency status to monitor credit quality. Management believes FICO scores are the strongest indicator of credit losses over the contractual life of the loan and assist management in predicting the borrower’s future payment performance. Scores are based on current and historical national industry-wide consumer level credit performance data. The following table presents the amortized cost basis of retail loans, by vintage date and FICO scores, as of December 31, 2022: Term Loans by Origination Year Revolving Loans (in millions) 2022 2021 2020 2019 2018 Prior to 2018 Within the Revolving Period Converted to Term Total Residential mortgages 800+ $2,132 $4,943 $3,143 $1,180 $363 $3,081 $— $— $14,842 740-799 2,376 2,991 1,660 638 257 1,635 — — 9,557 680-739 769 899 502 308 149 851 — — 3,478 620-679 125 168 135 138 99 422 — — 1,087 <620 17 68 77 165 147 455 — — 929 No FICO available (1) 2 2 2 3 2 17 — — 28 Total residential mortgages 5,421 9,071 5,519 2,432 1,017 6,461 — — 29,921 Home equity 800+ 4 5 2 5 6 110 4,958 267 5,357 740-799 2 2 1 4 6 97 4,350 274 4,736 680-739 1 1 1 6 11 114 2,296 234 2,664 620-679 — 1 2 9 16 93 558 143 822 <620 — — 2 12 18 82 178 172 464 Total home equity 7 9 8 36 57 496 12,340 1,090 14,043 Automobile 800+ 650 1,453 584 324 120 54 — — 3,185 740-799 962 1,606 649 343 134 56 — — 3,750 680-739 920 1,187 460 254 102 44 — — 2,967 620-679 554 586 205 133 62 28 — — 1,568 <620 188 309 130 106 56 31 — — 820 No FICO available (1) 2 — — — — — — — 2 Total automobile 3,276 5,141 2,028 1,160 474 213 — — 12,292 Education 800+ 548 1,720 1,567 694 410 1,068 — — 6,007 740-799 735 1,351 1,126 486 267 609 — — 4,574 680-739 363 423 356 170 103 288 — — 1,703 620-679 54 76 62 38 29 102 — — 361 <620 6 16 20 12 11 50 — — 115 No FICO available (1) 6 — — — — 42 — — 48 Total education 1,712 3,586 3,131 1,400 820 2,159 — — 12,808 Other retail 800+ 182 105 93 48 25 27 491 — 971 740-799 230 134 121 68 31 25 974 1 1,584 680-739 175 109 103 52 21 14 993 4 1,471 620-679 108 65 52 18 8 4 435 4 694 <620 35 30 25 9 4 2 190 6 301 No FICO available (1) 12 1 3 — — — 380 1 397 Total other retail 742 444 397 195 89 72 3,463 16 5,418 Total retail 800+ 3,516 8,226 5,389 2,251 924 4,340 5,449 267 30,362 740-799 4,305 6,084 3,557 1,539 695 2,422 5,324 275 24,201 680-739 2,228 2,619 1,422 790 386 1,311 3,289 238 12,283 620-679 841 896 456 336 214 649 993 147 4,532 <620 246 423 254 304 236 620 368 178 2,629 No FICO available (1) 22 3 5 3 2 59 380 1 475 Total retail $11,158 $18,251 $11,083 $5,223 $2,457 $9,401 $15,803 $1,106 $74,482 (1) Represents loans for which an updated FICO score was unavailable (e.g., due to recent profile changes). The following table presents the amortized cost basis of retail loans, by vintage date and FICO scores, as of December 31, 2021: Term Loans by Origination Year Revolving Loans (in millions) 2021 2020 2019 2018 2017 Prior to 2017 Within the Revolving Period Converted to Term Total Residential mortgages 800+ $2,431 $3,017 $1,230 $342 $672 $2,139 $— $— $9,831 740-799 4,015 1,876 746 246 360 1,086 — — 8,329 680-739 1,116 572 335 152 172 585 — — 2,932 620-679 111 130 161 93 107 276 — — 878 <620 24 66 164 162 157 257 — — 830 No FICO available (1) 3 8 1 — — 10 — — 22 Total residential mortgages 7,700 5,669 2,637 995 1,468 4,353 — — 22,822 Home equity 800+ — 2 5 5 3 134 4,394 281 4,824 740-799 — 1 4 5 7 122 3,514 278 3,931 680-739 — 1 7 14 16 134 1,738 243 2,153 620-679 — 3 11 19 17 112 363 167 692 <620 — 2 16 23 20 87 91 176 415 Total home equity — 9 43 66 63 589 10,100 1,145 12,015 Automobile 800+ 1,887 829 538 244 148 57 — — 3,703 740-799 2,418 1,051 615 288 156 58 — — 4,586 680-739 1,968 827 500 234 123 48 — — 3,700 620-679 1,029 378 257 131 72 32 — — 1,899 <620 164 142 155 103 62 32 — — 658 No FICO available (1) 3 — — — — — — — 3 Total automobile 7,469 3,227 2,065 1,000 561 227 — — 14,549 Education 800+ 1,361 1,771 840 514 470 880 — — 5,836 740-799 1,555 1,577 672 371 275 514 — — 4,964 680-739 512 474 229 140 107 262 — — 1,724 620-679 50 66 45 34 28 99 — — 322 <620 5 11 12 12 10 45 — — 95 No FICO available (1) 4 — — — — 52 — — 56 Total education 3,487 3,899 1,798 1,071 890 1,852 — — 12,997 Other retail 800+ 233 214 122 65 30 29 386 — 1,079 740-799 323 296 173 84 38 26 764 2 1,706 680-739 246 240 122 56 23 12 709 5 1,413 620-679 149 119 43 19 7 4 299 5 645 <620 32 37 17 10 3 2 100 6 207 No FICO available (1) 44 5 — — — — 330 1 380 Total other retail 1,027 911 477 234 101 73 2,588 19 5,430 Total retail 800+ 5,912 5,833 2,735 1,170 1,323 3,239 4,780 281 25,273 740-799 8,311 4,801 2,210 994 836 1,806 4,278 280 23,516 680-739 3,842 2,114 1,193 596 441 1,041 2,447 248 11,922 620-679 1,339 696 517 296 231 523 662 172 4,436 <620 225 258 364 310 252 423 191 182 2,205 No FICO available (1) 54 13 1 — — 62 330 1 461 Total retail $19,683 $13,715 $7,020 $3,366 $3,083 $7,094 $12,688 $1,164 $67,813 (1) Represents loans for which an updated FICO score was unavailable (e.g., due to recent profile changes). Nonaccrual and Past Due Assets Nonaccrual loans and leases are those on which accrual of interest has been suspended. Loans (other than certain retail loans insured by U.S. government agencies) are placed on nonaccrual status when full payment of principal and interest is in doubt, unless the loan is both well secured and in the process of collection. When the Company places a loan on nonaccrual status, the accrued unpaid interest receivable is reversed against interest income and amortization of any net deferred fees is suspended. Interest collections on nonaccrual loans and leases for which the ultimate collectability of principal is uncertain are generally applied to first reduce the carrying value of the asset. Otherwise, interest income may be recognized to the extent of the cash received. A loan or lease may be returned to accrual status if: • principal and interest payments have been brought current, and the Company expects repayment of the remaining contractual principal and interest; • the loan or lease has otherwise become well-secured and in the process of collection; or • the borrower has been making regularly scheduled payments in full for the prior six months and the Company is reasonably assured that the loan or lease will be brought fully current within a reasonable period. Commercial and industrial loans, commercial real estate loans, and leases are generally placed on nonaccrual status when contractually past due 90 days or more, or earlier if management believes that the probability of collection is insufficient to warrant further accrual. Some of these loans and leases may remain on accrual status when contractually past due 90 days or more if management considers the loan collectible. Residential mortgages are generally placed on nonaccrual status when past due 120 days, or sooner if determined to be collateral dependent, unless repayment of the loan is fully or partially guaranteed by the FHA, VA or USDA. Credit card balances are placed on nonaccrual status when past due 90 days or more and are restored to accruing status if they subsequently become less than 90 days past due. All other retail loans are generally placed on nonaccrual status when past due 90 days or more, or earlier if management believes that the probability of collection is insufficient to warrant further accrual. Loans less than 90 days past due may be placed on nonaccrual status upon the death of the borrower, fraud or bankruptcy. The following tables present an aging analysis of accruing loans and leases, and nonaccrual loans and leases as of December 31, 2022 and 2021: December 31, 2022 Days Past Due and Accruing (in millions) Current 30-59 60-89 90+ Nonaccrual Total Nonaccrual with no related ACL Commercial and industrial $51,389 $152 $25 $21 $249 $51,836 $64 Commercial real estate 28,665 51 45 1 103 28,865 7 Leases 1,475 4 — — — 1,479 — Total commercial 81,529 207 70 22 352 82,180 71 Residential mortgages (1) 29,228 95 45 319 234 29,921 187 Home equity 13,719 64 19 — 241 14,043 185 Automobile 12,039 152 45 — 56 12,292 9 Education 12,718 36 17 4 33 12,808 3 Other retail 5,294 44 30 22 28 5,418 1 Total retail 72,998 391 156 345 592 74,482 385 Total $154,527 $598 $226 $367 $944 $156,662 $456 December 31, 2021 Days Past Due and Accruing (in millions) Current 30-59 60-89 90+ Nonaccrual Total Nonaccrual with no related ACL Commercial and industrial $44,247 $47 $26 $9 $171 $44,500 $36 Commercial real estate 14,247 6 — — 11 14,264 1 Leases 1,570 14 1 — 1 1,586 — Total commercial 60,064 67 27 9 183 60,350 37 Residential mortgages (1) 21,918 102 52 549 201 22,822 137 Home equity 11,745 38 12 — 220 12,015 186 Automobile 14,324 131 39 — 55 14,549 22 Education 12,926 34 13 1 23 12,997 2 Other retail 5,331 40 23 16 20 5,430 2 Total retail 66,244 345 139 566 519 67,813 349 Total $126,308 $412 $166 $575 $702 $128,163 $386 (1) 90+ days past due and accruing includes $316 million and $544 million of loans fully or partially guaranteed by the FHA, VA and USDA at December 31, 2022 and 2021, respectively. Interest income is generally not recognized for loans and leases that are on nonaccrual status. The Company reverses accrued interest receivable with a charge to interest income upon classifying a loan or lease as nonaccrual. Certain commercial and consu

PREMISES, EQUIPMENT, AND SOFTWA

PREMISES, EQUIPMENT, AND SOFTWARE	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PREMISES, EQUIPMENT AND SOFTWARE	NOTE 7 - PREMISES, EQUIPMENT AND SOFTWARE Premises and Equipment Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the life of the lease (including renewal options if exercise of those options is reasonably assured) or their estimated useful life, whichever is shorter. Additions to premises and equipment are recorded at cost. The cost of major additions, improvements and betterments is capitalized. Normal repairs and maintenance and other costs that do not improve the property, extend the useful life or otherwise do not meet capitalization criteria are charged to expense as incurred. Citizens evaluates premises and equipment for impairment when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. A summary of the carrying value of premises and equipment is presented below: December 31, (dollars in millions) Useful Lives (years) 2022 2021 Land and land improvements 10 - 75 $144 $101 Buildings and leasehold improvements 5 - 60 879 805 Furniture, fixtures and equipment 4 - 20 622 589 Construction in progress 61 77 Total premises and equipment, gross 1,706 1,572 Accumulated depreciation (862) (804) Total premises and equipment, net $844 $768 Depreciation charged to noninterest expense totaled $107 million, $98 million and $110 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is presented in the Consolidated Statements of Operations in either occupancy or equipment expense, as applicable. Software Costs related to computer software developed or obtained for internal use are capitalized if the projects improve functionality and provide long-term future operational benefits. Capitalized costs are amortized using the straight-line method over the asset’s expected useful life, based upon the basic pattern of consumption and economic benefits provided by the asset. Citizens begins to amortize the software when the asset (or identifiable component of the asset) is substantially complete and ready for its intended use. All other costs incurred in connection with an internal-use software project are expensed as incurred. Capitalized software is included in other assets on the Consolidated Balance Sheets. Citizens had capitalized software assets of $2.6 billion and $2.3 billion and related accumulated amortization of $1.7 billion and $1.5 billion as of December 31, 2022 and 2021, respectively. Amortization expense was $243 million, $235 million and $215 million for the years ended December 31, 2022, 2021 and 2020, respectively. The estimated future amortization expense for capitalized software assets is presented below. Year (in millions) 2023 $226 2024 199 2025 158 2026 90 2027 33 Thereafter 7 Total (1) $713 (1) Excluded from this balance is $174 million of in-process software at December 31, 2022.

MORTGAGE BANKING AND OTHER SERV

MORTGAGE BANKING AND OTHER SERVICED LOANS	12 Months Ended
	Dec. 31, 2022
Mortgage Banking [Abstract]
MORTGAGE BANKING AND OTHER SERVICED LOANS	NOTE 8 - MORTGAGE BANKING AND OTHER SERVICED LOANS The Company sells residential mortgages into the secondary market. The Company retains no beneficial interest in these sales, but may retain the servicing rights for the loans sold. The Company may exercise its option to repurchase eligible government guaranteed residential mortgages or may be obligated to subsequently repurchase a loan if the purchaser discovers a representation or warranty violation such as noncompliance with eligibility or servicing requirements, or customer fraud that should have been identified in a loan file review. Mortgage loans held for sale are accounted for at fair value on an individual loan basis. Changes in the fair value and realized gains and losses on the sales of mortgage loans, are reported in mortgage banking fees. The following table summarizes activity related to residential mortgage loans sold with servicing rights retained: Year Ended December 31, (in millions) 2022 2021 2020 Cash proceeds from residential mortgage loans sold with servicing retained $17,025 $37,039 $33,221 Repurchased residential mortgages (1) 87 1,381 — Gain on sales (2) 86 382 895 Contractually specified servicing, late and other ancillary fees (2) 287 247 227 (1) Includes government insured or guaranteed loans repurchased through the exercise of the Company’s removal of account provision option. (2) Reported in mortgage banking fees in the Consolidated Statements of Operations. The Company recognizes the right to service residential mortgage loans for others, or MSRs, as separate assets, which are presented in other assets on the Consolidated Balance Sheets, when purchased, or when servicing is contractually separated from the underlying mortgage loans by sale with servicing rights retained. All MSRs are measured using the fair value method, with any change in fair value during the period recorded in mortgage banking fees in the Consolidated Statements of Operations. The unpaid principal balance of residential mortgage loans related to our MSRs was $96.7 billion and $90.2 billion at December 31, 2022 and 2021, respectively. The Company manages the risk associated with changes in the value of MSRs with an active hedging strategy, which includes the purchase of freestanding derivatives. The following table summarizes changes in MSRs recorded using the fair value method: As of and for the Year Ended December 31, (in millions) 2022 2021 Fair value as of beginning of the period $1,029 $658 Amounts capitalized 279 419 Servicing rights acquired (1) 16 — Changes in unpaid principal balance during the period (2) (137) (212) Changes in fair value during the period (3) 343 164 Fair value at end of the period $1,530 $1,029 (1) Represents MSRs acquired as part of the Investors acquisition. (2) Represents changes in value of the MSRs due to i) passage of time including the impact from both regularly scheduled loan principal payments and partial paydowns, and ii) loans that paid off during the period. (3) Represents changes in value primarily driven by market conditions. These changes are recorded in mortgage banking fees in the Consolidated Statements of Operations. The fair value of MSRs is estimated by using the present value of estimated future net servicing cash flows, taking into consideration actual and expected mortgage loan prepayment rates, discount rates, contractual servicing fee income, servicing costs, default rates, ancillary income, and other economic factors, which are determined based on current market interest rates. The valuation does not attempt to forecast or predict the future direction of interest rates. The sensitivity analysis below presents the impact of an immediate 10% and 20% adverse change in key economic assumptions to the current fair value of MSRs. These sensitivities are hypothetical, with the effect of a variation in a particular assumption on the fair value of the MSRs calculated independently without changing any other assumption. In reality, changes in one factor may result in changes in another (e.g., changes in interest rates, which drive changes in prepayment rates, could result in changes in the discount rates), which may amplify or counteract the sensitivities. The primary risk inherent in the Company’s MSRs is an increase in prepayments of the underlying mortgage loans serviced, which is largely dependent upon movements in market interest rates. (dollars in millions) December 31, 2022 December 31, 2021 Fair value $1,530 $1,029 Weighted average life (years) 9.1 6.4 Weighted average constant prepayment rate 6.8% 10.7% Decline in fair value from 10% adverse change $34 $45 Decline in fair value from 20% adverse change $66 $87 Weighted average option adjusted spread 629 bps 596 bps Decline in fair value from 10% adverse change $43 $25 Decline in fair value from 20% adverse change $86 $50 The Company’s mortgage banking derivatives include commitments to originate mortgages held for sale, certain loan sale agreements, and other financial instruments that meet the definition of a derivative. Refer to Note 14 for additional information. Other Serviced Loans From time to time, Citizens engages in other servicing relationships. The following table presents the unpaid principal balance of other serviced loans: (in millions) December 31, 2022 December 31, 2021 Education $602 $761 Commercial and industrial (1) 91 80 (1) Represents the government guaranteed portion of SBA loans sold to outside investors.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	NOTE 9 - LEASES Citizens as Lessee The Company determines if an arrangement is a lease at inception and records a right-of-use asset and a corresponding lease liability. A right-of-use asset represents the value of the Company’s contractual right to use an underlying leased asset and a lease liability represents the Company’s contractual obligation to make payments on the same underlying leased asset. Operating and finance lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of the lease payments over the non-cancelable lease term. As most of the Company’s leases do not specify an implicit rate, the Company uses an incremental borrowing rate based on information available at the lease commencement date to determine the present value of the lease payments. The Company evaluates right-of-use assets for impairment when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In the normal course of business, the Company leases both equipment and real estate, including office and branch space. Lease terms predominantly range from one year to ten years and may include options to extend the lease, terminate the lease, or purchase the underlying asset at the end of the lease. Certain lease agreements include rental payments based on an index or are adjusted periodically for inflation. The Company has lease agreements that contain lease and non-lease components and for certain real estate leases, these components are accounted for as a single lease component. Leases with an initial term of 12 months or less are not recorded on the Company’s Consolidated Balance Sheets and are recognized in occupancy expense in the Company’s Consolidated Statements of Operations on a straight-line basis over the remaining lease term. The Company may also enter into subleases with third parties for certain leased real estate properties that are no longer occupied. The components of operating lease cost are presented below. Year Ended December 31, (in millions) 2022 2021 2020 Operating lease cost $216 $161 $165 Short-term lease cost 2 1 4 Variable lease cost 7 8 8 Sublease income (1) (4) (4) Total $224 $166 $173 Operating lease cost is recognized on a straight-line basis over the lease term and is recorded in occupancy, equipment and software expense, and other income in the Consolidated Statements of Operations. Supplemental information related to the Company’s operating lease arrangements is presented in the tables below: (dollars in millions) December 31, 2022 December 31, 2021 Affected Line Item in Consolidated Balance Sheets Operating lease right-of-use assets $1,019 $766 Other assets Operating lease liabilities 1,066 800 Other liabilities Weighted average remaining lease term (years) 7 7 — Weighted average discount rate 2.74 % 2.34 % — Year Ended December 31, (in millions) 2022 2021 2020 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $219 $163 $167 Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets: Right-of-use assets in exchange for new operating lease liabilities 408 79 268 At December 31, 2022, lease liabilities maturing under non-cancelable operating leases are presented below for the years ended December 31. (in millions) Operating Leases 2023 $207 2024 206 2025 178 2026 142 2027 123 Thereafter 324 Total lease payments 1,180 Less: Interest 114 Present value of lease liabilities $1,066 Citizens as Lessor Operating lease assets where Citizens was the lessor totaled $260 million and $244 million as of December 31, 2022 and 2021, respectively. Operating lease rental income for leased assets where Citizens is the lessor is recognized in other income on a straight-line basis over the lease term. Depreciation expense associated with operating lease assets is recorded on a straight-line basis over the estimated useful life, considering the estimated residual value of the leased asset and is included in other operating expense in the Consolidated Statements of Operations. On a periodic basis, operating lease assets are reviewed for impairment. An impairment loss is recognized in other operating expense if the carrying amount of the leased asset exceeds fair value and is not recoverable. The carrying amount of a leased asset is not recoverable if the carrying value exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the asset. For a discussion of direct finance and sales-type leases where Citizens is the lessor, refer to Note 5.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	NOTE 10 - GOODWILL AND INTANGIBLE ASSETS Goodwill is the purchase premium associated with the acquisition of a business and is assigned to the Company’s reporting units at the acquisition date. A reporting unit is a business operating segment or a component of a business operating segment. Citizens has identified and assigned goodwill to two reporting units - Consumer Banking and Commercial Banking - based upon reviews of the structure of the Company’s executive team and supporting functions, resource allocations and financial reporting processes. Once goodwill has been assigned to reporting units, it no longer retains its association with a particular acquisition, and all of the activities within a reporting unit, whether acquired or organically grown, are available to support the value of the goodwill. Goodwill is not amortized, but is subject to an annual impairment test. Citizens reviews goodwill for impairment annually as of October 31 st and in interim periods when events or changes indicate the carrying value of one or more reporting units may not be recoverable. The Company has the option of performing a qualitative assessment of goodwill to determine whether it is more likely than not that the fair value of each reporting unit is less than the carrying value. If it is more likely than not that the fair value exceeds the carrying value, then no further testing is necessary; otherwise, Citizens must perform a quantitative assessment of goodwill. Citizens may elect to bypass the qualitative assessment and perform a quantitative assessment. The quantitative assessment, used to identify potential impairment, involves comparing each reporting unit’s fair value to its carrying value, including goodwill. If the fair value of a reporting unit exceeds its carrying value inclusive of goodwill, applicable goodwill is deemed to be not impaired. If the carrying value of the reporting unit inclusive of goodwill exceeds fair value, an impairment charge is recorded for the excess. The impairment loss recognized cannot exceed the amount of goodwill assigned to the reporting unit, and the loss establishes a new basis in the goodwill. Subsequent reversal of goodwill impairment losses is not permitted. Under the quantitative impairment assessment, the fair values of the Company’s reporting units are determined using a combination of income and market-based approaches. Citizens relies on the income approach (discounted cash flow method) for determining fair value. Market and transaction approaches are used as benchmarks to corroborate the value determined by the discounted cash flow method. Citizens relies on several assumptions when estimating the fair value of its reporting units using the discounted cash flow method. These assumptions include the discount rate, projected loan losses, income tax and capital retention rates. For the year ended December 31, 2022, Citizens performed a quantitative analysis to determine whether the fair value of either of its reporting units was less than the respective reporting unit’s carrying value. Multi-year financial forecasts are developed for each reporting unit by considering several key business drivers such as new business initiatives, customer retention standards, market share changes, anticipated loan and deposit growth, forward interest rates, historical performance, and industry and economic trends, among other considerations. The long-term growth rate used in determining the terminal value of each reporting unit is based on management’s assessment of the minimum expected terminal growth rate of each reporting unit, as well as broader economic considerations such as GDP and inflation. As a result of this quantitative assessment, the Company determined that there was no impairment to the carrying value of the Company's goodwill as of December 31, 2022. Changes in the carrying value of goodwill for the years ended December 31, 2022 and 2021 are presented below. (in millions) Consumer Banking Commercial Banking Total Balance at December 31, 2020 $2,258 $4,792 $7,050 Business acquisitions — 66 66 Balance at December 31, 2021 $2,258 $4,858 $7,116 Business acquisitions 415 642 1,057 Balance at December 31, 2022 $2,673 $5,500 $8,173 Goodwill increased during the year ended December 31, 2022 primarily as a result of the Investors and DH Capital acquisitions and the HSBC transaction. Goodwill for the Investors acquisition was allocated between the Consumer and Commercial segments and is preliminary and subject to change. Goodwill for the HSBC transaction was allocated to the Consumer segment, and goodwill for the DH Capital acquisition was allocated to the Commercial segment; both of which are considered final. For additional information regarding the Investors and DH Capital acquisitions and the HSBC transaction see Note 2. Accumulated impairment losses related to the Consumer Banking reporting unit totaled $5.9 billion at December 31, 2022 and 2021. The accumulated impairment losses related to the Commercial Banking reporting unit totaled $50 million at December 31, 2022 and 2021. No impairment was recorded for the years ended December 31, 2022, 2021 or 2020. Other Intangibles Other intangible assets are recognized separately from goodwill if the asset arises as a result of contractual rights or if the asset is capable of being separated and sold, transferred or exchanged. These assets are amortized on a straight-line basis with the exception of core deposits, which are amortized using an accelerated methodology, and are subject to an annual impairment evaluation. Amortization expense is recorded in other operating expense in the Consolidated Statements of Operations. A summary of the carrying value of intangible assets is presented below. December 31, 2022 December 31, 2021 (dollars in millions) Amortizable Lives (years) Gross (1) Accumulated Amortization Net Gross Accumulated Amortization Net Core deposits 10 $144 $20 $124 $— $— $— Acquired technology 5 - 7 23 19 4 21 11 10 Acquired relationships 2 - 15 54 21 33 53 14 39 Naming Rights 5 - 10 33 7 26 10 3 7 Other 2 - 7 17 7 10 13 5 8 Total $271 $74 $197 $97 $33 $64 (1) Includes $97 million and $47 million of core deposits from the Investors acquisition and the HSBC transaction, respectively, and $24 million of naming rights from the Investors acquisition. As of December 31, 2022, all of the Company’s intangible assets were being amortized. Amortization expense recognized on intangible assets was $41 million for the year ended December 31, 2022, and $11 million for the years ended December 31, 2021 and 2020. The Company’s projection of amortization expense is based on balances as of December 31, 2022, including estimated amounts related to the Investors acquisition. Future amortization expense may vary from these projections. Estimated intangible asset amortization expense for the next five years is as follows: (in millions) Total 2023 $41 2024 34 2025 31 2026 28 2027 24

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
VARIABLE INTEREST ENTITIES	NOTE 11 - VARIABLE INTEREST ENTITIES Citizens makes equity investments in various entities that are considered VIEs, as defined by GAAP. A VIE typically does not have sufficient equity at risk to finance its activities without additional subordinated financial support from other parties. The Company’s variable interest arises from contractual, ownership or other monetary interests in the entity, which change with fluctuations in the fair value of the entity's net assets. Citizens consolidates a VIE if it is the primary beneficiary of the entity. Citizens is the primary beneficiary of a VIE if its variable interest provides it with the power to direct the activities that most significantly impact the VIE and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to the VIE. To determine whether or not a variable interest held could potentially be significant to the VIE, the company considers both qualitative and quantitative factors regarding the nature, size and form of its involvement with the VIE. Citizens assesses whether or not it is the primary beneficiary of a VIE on an ongoing basis. Citizens is involved in various entities that are considered VIEs, including investments in limited partnerships that sponsor affordable housing projects, limited liability companies that sponsor renewable energy projects or asset-backed securities, and lending to special purpose entities. Citizens’ maximum exposure to loss as a result of its involvement with these entities is limited to the balance sheet carrying amount of its investment in equity and asset-backed securities, unfunded commitments, and outstanding principal balance of loans to special purpose entities. A summary of these investments is presented below: December 31, (in millions) 2022 2021 Lending to special purpose entities included in loans and leases $4,578 $2,646 LIHTC investment included in other assets 2,230 1,978 LIHTC unfunded commitments included in other liabilities 1,046 927 Asset-backed investments included in HTM securities 581 737 Renewable energy investments included in other assets 374 429 Lending to Special Purpose Entities Citizens provides lending facilities to third-party sponsored special purpose entities. Because the sponsor for each respective entity has the power to direct how proceeds from the Company are utilized, as well as maintains responsibility for any associated servicing commitments, Citizens is not the primary beneficiary of these entities. Accordingly, Citizens does not consolidate these VIEs on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, the lending facilities had aggregate unpaid principal balances of $4.6 billion and $2.6 billion, respectively, and undrawn commitments to extend credit of $2.4 billion and $1.9 billion, respectively. For more information on commitments to extend credit see Note 19. Low Income Housing Tax Credit Partnerships The purpose of the Company’s equity investments is to assist in achieving the goals of the CRA and to earn an adequate return of capital. LIHTC partnerships are managed by unrelated general partners that have the power to direct the activities which most significantly affect the performance of the partnerships and, therefore, Citizens is not the primary beneficiary of these partnerships. Accordingly, Citizens does not consolidate these VIEs. Citizens applies the proportional amortization method to account for its LIHTC investments. Under the proportional amortization method, the Company applies a practical expedient and amortizes the initial cost of the investment in proportion to the tax credits received in the current period as compared to the total tax credits expected to be received over the life of the investment. The amortization and tax benefits are included as a component of income tax expense. The tax credits received related to these transactions are reported as a reduction of income tax expense (or an increase to income tax benefit). The following table presents information related to the Company’s affordable housing tax credit investments: Year Ended December 31, (in millions) 2022 2021 2020 Tax credits included in income tax expense $236 $202 $159 Other tax benefits included in income tax expense 59 48 38 Total tax benefits included in income tax expense 295 250 197 Less: Amortization included in income tax expense 247 208 168 Net benefit from affordable housing tax credit investments included in income tax expense $48 $42 $29 No LIHTC investment impairment losses were recognized during the years ended December 31, 2022, 2021 and 2020. Asset-backed securities The Company’s investments in asset-backed securities are collateralized by education loans sold to a third-party sponsored VIE. Citizens acts as primary servicer for the sold educational loans and receives a servicing fee. A third-party special servicer is responsible for all loans that become significantly delinquent. As of December 31, 2022, the Company concluded that their investment in asset-backed securities, as well as the primary servicing fee, are considered variable interests in the VIE since some of the losses of the VIE could be absorbed by the Company’s interest in the asset-backed securities or the primary servicing fee. However, Citizens did not control the determination of the assets purchased by the VIE and does not control the servicing activities on significantly delinquent loans. Since these activities significantly impact the economic performance of the VIE, the Company has concluded that Citizens is not the primary beneficiary. Accordingly, Citizens does not consolidate the VIE. Renewable Energy Entities The Company’s investments in certain renewable energy entities provide benefits from a return generated by government incentives plus other tax attributes that are associated with tax ownership (e.g., tax depreciation). As a tax equity investor, Citizens does not have the power to direct the activities which most significantly affect the performance of these entities and, therefore, is not the primary beneficiary of these entities. Accordingly, Citizens does not consolidate these VIEs.

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2022
Deposits [Abstract]
DEPOSITS	NOTE 12 - DEPOSITS Interest-bearing deposits in banks are carried at cost and include deposits that mature within one year. The following table presents the major components of deposits: December 31, (in millions) 2022 2021 Demand $49,283 $49,443 Money market 49,905 47,216 Checking with interest 39,721 30,409 Savings 29,805 22,030 Term 12,010 5,263 Total deposits $180,724 $154,361 The following table presents the maturity distribution of term deposits by year as of December 31, 2022: (in millions) 2023 $10,723 2024 991 2025 156 2026 74 2027 63 2028 and thereafter 3 Total $12,010 The following table presents the remaining maturities of term deposits with a denomination of $250,000 or more at December 31, 2022: (in millions) Three months or less $995 After three months through six months 101 After six months through twelve months 630 After twelve months 249 Total term deposits $1,975

BORROWED FUNDS

BORROWED FUNDS	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
BORROWED FUNDS	NOTE 13 - BORROWED FUNDS Short-term borrowed funds The following table presents a summary of the Company’s short-term borrowed funds: December 31, (in millions) 2022 2021 Securities sold under agreements to repurchase $— $1 Other short-term borrowed funds 3 73 Total short-term borrowed funds $3 $74 Long-term borrowed funds The following table presents a summary of the Company’s long-term borrowed funds: December 31, (in millions) 2022 2021 Parent Company: 4.150% fixed-rate subordinated debt, due September 2022 $— $168 3.750% fixed-rate subordinated debt, due July 2024 90 90 4.023% fixed-rate subordinated debt, due October 2024 17 17 4.350% fixed-rate subordinated debt, due August 2025 133 133 4.300% fixed-rate subordinated debt, due December 2025 336 336 2.850% fixed-rate senior unsecured notes, due July 2026 498 498 2.500% fixed-rate senior unsecured notes, due February 2030 298 298 3.250% fixed-rate senior unsecured notes, due April 2030 746 745 3.750% fixed-rate reset subordinated debt, due February 2031 69 69 4.300% fixed-rate reset subordinated debt, due February 2031 135 135 4.350% fixed-rate reset subordinated debt, due February 2031 61 60 2.638% fixed-rate subordinated debt, due September 2032 556 550 5.641% fixed-rate reset subordinated debt, due May 2037 397 — CBNA’s Global Note Program: 3.250% senior unsecured notes, due February 2022 — 700 0.845% floating-rate senior unsecured notes, due February 2022 (1) — 300 1.318% floating-rate senior unsecured notes, due May 2022 (1) — 250 2.650% senior unsecured notes, due May 2022 — 503 3.700% senior unsecured notes, due March 2023 497 512 5.676% floating-rate senior unsecured notes, due March 2023 (1) 250 250 2.250% senior unsecured notes, due April 2025 748 746 4.119% fixed/floating-rate senior unsecured notes, due May 2025 648 — 6.064% fixed/floating-rate senior unsecured notes, due October 2025 598 — 3.750% senior unsecured notes, due February 2026 475 524 4.575% fixed/floating-rate senior unsecured notes, due August 2028 797 — Additional Borrowings by CBNA and Other Subsidiaries: Federal Home Loan Bank advances, 4.283% weighted average rate, due through 2041 (2) 8,519 19 Other 19 29 Total long-term borrowed funds $15,887 $6,932 (1) Rate disclosed reflects the floating rate as of December 31, 2022, or final floating rate as applicable. (2) Rate disclosed reflects the weighted average rate as of December 31, 2022. The Parent Company’s long-term borrowed funds as of December 31, 2022 and 2021 include principal balances of $3.4 billion and $3.2 billion, respectively, and unamortized deferred issuance costs and/or discounts of $75 million and $80 million, respectively. CBNA and other subsidiaries’ long-term borrowed funds as of December 31, 2022 and 2021 include principal balances of $12.6 billion and $3.8 billion, respectively, with unamortized deferred issuance costs and/or discounts of $10 million and $7 million, respectively, and hedging basis adjustments of ($27) million and $42 million, respectively. See Note 14 for further information about the Company’s hedging of certain long-term borrowed funds. Advances, lines of credit and letters of credit from the FHLB are collateralized primarily by residential mortgages and home equity products at least sufficient to satisfy the collateral maintenance level established by the FHLB. The utilized borrowing capacity for FHLB advances and letters of credit was $15.7 billion and $2.3 billion at December 31, 2022 and 2021, respectively. The Company’s available FHLB borrowing capacity was $11.5 billion and $15.9 billion at December 31, 2022 and 2021, respectively. Citizens can also borrow from the FRB discount window to meet short-term liquidity requirements. Collateral, including certain loans, is pledged to support this borrowing capacity. At December 31, 2022, the Company’s unused secured borrowing capacity was approximately $63.3 billion, which includes unencumbered securities, FHLB borrowing capacity, and FRB discount window capacity. The following table presents a summary of maturities for the Company’s long-term borrowed funds at December 31, 2022: (in millions) Parent Company CBNA and Other Subsidiaries Consolidated Year 2023 $— $751 $751 2024 107 8,501 8,608 2025 469 2,008 2,477 2026 498 475 973 2027 — 1 1 2028 and thereafter 2,262 815 3,077 Total 3,336 12,551 15,887

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	NOTE 14 - DERIVATIVES In the normal course of business, Citizens enters into a variety of derivative transactions to meet the financing and hedging needs of its customers and to reduce its own exposure to fluctuations in interest rates and foreign currency exchange rates. These transactions include interest rate swap contracts, interest rate options, foreign exchange contracts, residential loan commitment rate locks, interest rate future contracts, swaptions, certain commodities, forward commitments to sell TBAs, forward sale contracts and purchase options. The Company does not use derivatives for speculative purposes. The Company’s derivative instruments are recognized on the Consolidated Balance Sheets in derivative assets and derivative liabilities at fair value. Certain derivatives are cleared through central clearing houses. Cleared derivatives represent contracts executed bilaterally with counterparties in the OTC market that are novated to central clearing houses who then becomes our counterparty. OTC-cleared derivative instruments are typically settled in cash each day based on the prior day value. Information regarding the valuation methodology and inputs used to estimate the fair value of the Company’s derivative instruments is described in Note 20. Derivative assets and liabilities are netted by counterparty on the Consolidated Balance Sheets if a “right of setoff” has been established in a master netting agreement between the Company and the counterparty. This netted derivative asset or liability position is also netted against the fair value of any cash collateral that has been pledged or received in accordance with a master netting agreement. The following table presents derivative instruments included in the Consolidated Balance Sheets: December 31, 2022 December 31, 2021 (in millions) Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate contracts $42,250 $16 $53 $23,450 $12 $2 Derivatives not designated as hedging instruments: Interest rate contracts 174,384 331 1,579 142,987 680 174 Foreign exchange contracts 29,475 527 519 21,336 263 231 Commodities contracts 1,103 953 942 514 508 505 TBA contracts 2,370 7 14 7,776 8 8 Other contracts 913 5 4 3,555 38 2 Total derivatives not designated as hedging instruments 1,823 3,058 1,497 920 Gross derivative fair values 1,839 3,111 1,509 922 Less: Gross amounts offset in the Consolidated Balance Sheets (1) (623) (623) (235) (235) Less: Cash collateral applied (1) (374) (579) (58) (490) Total net derivative fair values presented in the Consolidated Balance Sheets $842 $1,909 $1,216 $197 (1) Amounts represent the impact of enforceable master netting agreements that allow the Company to net settle positive and negative positions as well as collateral paid and received. The Company’s derivative transactions are internally divided into three sub-groups: institutional, customer and residential loan. Certain derivative transactions within these sub-groups are designated as fair value or cash flow hedges, as described below: Derivatives Designated As Hedging Instruments The Company’s institutional derivatives qualify for hedge accounting treatment. The net interest accruals on interest rate swaps designated in a fair value or cash flow hedge relationship are treated as an adjustment to interest income or interest expense of the item being hedged. The Company formally documents all hedging relationships at inception, as well as risk management objectives and strategies for undertaking various accounting hedges. Additionally, the Company monitors the effectiveness of its hedge relationships during the duration of the hedge period. The methods utilized to assess hedge effectiveness vary based on the hedge relationship and the Company monitors each relationship to ensure that management’s initial intent continues to be satisfied. The Company discontinues hedge accounting treatment when it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge and subsequently reflects changes in the fair value of the derivative in earnings after termination of the hedge relationship. Fair Value Hedges In a fair value hedge, changes in the fair value of both the derivative instrument and the hedged asset or liability attributable to the risk being hedged are recognized in the same income statement line item in the Consolidated Statements of Operations when the changes in fair value occur. The following table presents the change in fair value of interest rate contracts designated as fair value hedges, as well as the change in fair value of the related hedged items attributable to the risk being hedged, included in the Consolidated Statements of Operations: Year Ended December 31, (in millions) 2022 2021 2020 Affected Line Item in the Consolidated Statements of Operations Interest rate swaps hedging borrowed funds ($69) ($72) $65 Interest expense - long-term borrowed funds Hedged long-term borrowed funds attributable to the risk being hedged 68 71 (63) Interest expense - long-term borrowed funds Interest rate swaps hedging loans held for sale 13 — 17 Interest and fees on other loans held for sale Hedged loans held for sale attributable to the risk being hedged (13) — (17) Interest and fees on other loans held for sale Interest rate swaps hedging debt securities available for sale 29 68 (104) Interest income - investment securities Hedged debt securities available for sale attributable to risk being hedged (29) (68) 104 Interest income - investment securities The following table reflects amounts recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges: December 31, 2022 December 31, 2021 (in millions) Debt securities available for sale Long-term borrowed funds Debt securities available for sale (1) Long-term borrowed funds Carrying amount of hedged assets $— $— $6,042 $— Carrying amount of hedged liabilities — 972 — 2,239 Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items — (27) 29 42 (1) The Company designated $2.0 billion as the hedged amount (from a closed portfolio of prepayable financial assets with an amortized cost basis of $6.0 billion as of December 31, 2021) in a last-of-layer hedging relationship, which commenced in the third quarter of 2019 and was terminated in the first quarter of 2022. Cash Flow Hedges In a cash flow hedge the entire change in the fair value of the interest rate swap included in the assessment of hedge effectiveness is initially recorded in OCI and is subsequently reclassified from AOCI to current period earnings (net interest income) in the same period that the hedged item affects earnings. Citizens has entered into interest rate swap agreements designed to hedge a portion of the Company’s floating-rate assets and liabilities. All of these swaps have been deemed highly effective cash flow hedges. During the year ended December 31, 2022 the Company entered into zero-cost collar instruments with a notional amount of $1.5 billion comprised of purchasing an interest rate floor and selling an interest rate cap. These instruments expose Citizens to the variability in cash flows within the option strike rates and were structured so that the premium paid on the floor is equal and offsetting to the premium received on the cap. These amounts are excluded from the assessment of hedge effectiveness and will be amortized over the life of the instruments. The following table presents the pre-tax net gains (losses) recorded in the Consolidated Statements of Operations and in the Consolidated Statements of Comprehensive Income related to derivative instruments designated as cash flow hedges: Year Ended December 31, (in millions) 2022 2021 2020 Amount of pre-tax net gains (losses) recognized in OCI ($1,806) ($66) $130 Amount of pre-tax net gains (losses) reclassified from AOCI into interest income (111) 183 184 Amount of pre-tax net gains (losses) reclassified from AOCI into interest expense (4) (48) (35) Using the interest rate curve at December 31, 2022 with respect to cash flow hedge strategies, the Company estimates that approximately $704 million in pre-tax net losses will be reclassified from AOCI to net interest income over the next 12 months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations and the addition of other hedges subsequent to December 31, 2022. Derivatives not designated as hedging instruments Economic Hedges The Company’s economic hedges include those related to offsetting customer derivatives, residential mortgage loan derivatives (including interest rate lock commitments and forward sales commitments) and derivatives to hedge its residential MSRs. Customer derivatives include interest rate, foreign exchange and commodity derivative contracts designed to meet the hedging and financing needs of the Company’s customers, and are economically hedged by the Company to offset its market exposure. Interest rate lock commitments on residential mortgage loans that will be held for sale are considered derivative instruments, and are economically hedged by entering into forward sale commitments to manage changes in fair value due to interest rate risk. Residential MSR derivatives are entered to hedge the risk of changes in the fair value of the Company’s MSRs. The following table presents the effect of economic hedges on noninterest income: Amounts Recognized in Noninterest Income for the Year Ended December 31, Affected Line Item in the Consolidated Statements of Operations (in millions) 2022 2021 2020 Economic hedge type: Customer interest rate contracts ($2,027) ($374) $1,234 Foreign exchange and derivative products Derivatives hedging interest rate risk 2,090 401 (1,188) Foreign exchange and derivative products Customer foreign exchange contracts (180) (207) 216 Foreign exchange and derivative products Derivatives hedging foreign exchange risk 313 305 (263) Foreign exchange and derivative products Customer commodity contracts 1,121 779 (9) Foreign exchange and derivative products Derivatives hedging commodity price risk (1,097) (770) 13 Foreign exchange and derivative products Residential loan commitments (284) (208) 179 Mortgage banking fees Derivatives hedging residential loan commitments and mortgage loans held for sale, at fair value 489 152 (50) Mortgage banking fees Derivative contracts used to hedge residential MSRs (313) (150) 311 Mortgage banking fees Total $112 ($72) $443

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
EMPLOYEE BENEFITS	NOTE 15 - EMPLOYEE BENEFITS Pension Plans Citizens maintains a non-contributory pension plan (the “Citizens Qualified Plan”) that was closed to new hires and re-hires effective January 1, 2009, and frozen to all participants effective December 31, 2012. Benefits under the Citizens Qualified Plan are based on employees’ years of service and highest 5-year average of eligible compensation. The Citizens Qualified Plan is funded on a current basis, in compliance with the requirements of ERISA. In connection with the Investors acquisition, effective June 30, 2022, the Company withdrew from a multi-employer plan and transferred the plan assets into a newly established defined benefit pension plan sponsored by Citizens (the “Investors Qualified Plan”). The Investors Qualified Plan was closed to new hires and re-hires effective December 1, 2015, and future benefit accruals were frozen to all participants effective December 31, 2016. The Citizens Qualified Plan and the Investors Qualified Plan are collectively referred to as the Company’s “Qualified Plans”. Citizens also provides an unfunded, non-qualified supplemental retirement plan which was closed and frozen effective December 31, 2012. As part of the Investors acquisition the Company also obtained other frozen, non-qualified supplemental retirement and postretirement benefit plans. These plans are collectively referred to as the Company’s “Non-Qualified Plans”. The Company’s Qualified Plans and Non-Qualified Plans are collectively referred to as the Company’s “Pension Plans”. The Pension Plans’ investments include equity-oriented and fixed income-oriented investments including, but not limited to, government obligations, corporate bonds, and common and collective equity and fixed income funds. The following table presents changes in the fair value of the Company’s Pension Plan assets, projected benefit obligation, funded status, and accumulated benefit obligation: Year Ended December 31, Qualified Plans Non-Qualified Plans (in millions) 2022 2021 2022 2021 Fair value of plan assets as of January 1 $1,390 $1,343 $— $— Actual return on plan assets (262) 125 — — Employer contributions — — 8 8 Benefits and administrative expenses paid (76) (78) (8) (8) Fair value of plan assets from Investors acquisition 130 — — — Fair value of plan assets as of December 31 1,182 1,390 — — Projected benefit obligation 868 1,083 94 99 Pension asset (obligation) $314 $307 ($94) ($99) Accumulated benefit obligation $868 $1,083 $94 $99 The Company’s projected benefit obligation for the Qualified Plans as of December 31, 2022 decreased compared to 2021 driven by an actuarial gain given a change in the discount rate and benefits paid exceeding the interest cost on remaining obligations, partially offset by the projected benefit obligation associated with the Investors Qualified Plan. Actuarial losses related to the Pension Plans recognized in AOCI at December 31, 2022 and 2021 were $504 million and $465 million, respectively. In 2023, Citizens does not plan to contribute to the Qualified Plans and expects to contribute $9 million to the Non-Qualified Plans. The following table presents the components of net periodic pension (income) cost and other changes in plan assets and benefit obligations recognized in OCI for the Company’s Pension Plans: Year Ended December 31, Qualified Plans Non-Qualified Plans Total (in millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Service cost $3 $3 $3 $— $— $— $3 $3 $3 Interest cost 34 31 37 3 3 3 37 34 40 Expected return on plan assets (93) (85) (82) — — — (93) (85) (82) Amortization of actuarial loss 11 14 14 3 3 3 14 17 17 Settlement — 15 — — — — — 15 — Net periodic pension (income) cost (1) (45) (22) (28) 6 6 6 (39) (16) (22) Net actuarial loss (gain) 71 (73) 29 (19) (1) 8 52 (74) 37 Amortization of net actuarial loss (11) (14) (14) (3) (3) (3) (14) (17) (17) Settlement — (15) — — — — — (15) — Total gain (loss) recognized in other comprehensive income (loss) 60 (102) 15 (22) (4) 5 38 (106) 20 Total (loss) gain recognized in net periodic pension (income) cost and other comprehensive income (loss) $15 ($124) ($13) ($16) $2 $11 ($1) ($122) ($2) (1) In the Consolidated Statements of Operations, service cost is presented in salaries and employee benefits and all other components of net periodic pension (income) cost are presented in other operating expense Costs under the Company’s Pension Plans are actuarially computed and include current service costs and amortization of prior service costs over the participants’ average future working lifetime. The actuarial cost method used in determining the net periodic pension cost is the projected unit method. During 2021, lump sum payments made under the Citizens Qualified Plan triggered settlement accounting. In accordance with the applicable accounting guidance for defined benefit plans, the Company performed a remeasurement of the Citizens Qualified Plan and recognized a settlement loss. The following table presents the expected future benefit payments for the Company’s Pension Plans: (in millions) Expected benefit payments by fiscal year ending: December 31, 2023 $70 December 31, 2024 71 December 31, 2025 73 December 31, 2026 74 December 31, 2027 75 December 31, 2028 - 2032 369 401(k) Plan Citizens sponsors a 401(k) Plan under which employee tax-deferred/Roth after-tax contributions to the 401(k) Plan are matched by the Company after completion of one year of service. Contributions are matched at 100% up to an overall limitation of 4% on a pay period basis. In addition, substantially all employees will receive an additional 1.5% of earnings after completion of one year of service, subject to limits set by the Internal Revenue Service. Amounts expensed by the Company were $86 million in 2022 compared to $63 million in 2021 and $78 million in 2020.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 16 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in the balances, net of income taxes, of each component of AOCI: (in millions) Net Unrealized Gains (Losses) on Derivatives Net Unrealized Gains (Losses) on Debt Securities Employee Benefit Plans Total AOCI Balance at January 1, 2020 $3 $1 ($415) ($411) Other comprehensive income (loss) before reclassifications 97 382 — 479 Amounts reclassified to the Consolidated Statements of Operations (111) (3) (14) (128) Net other comprehensive income (loss) (14) 379 (14) 351 Balance at December 31, 2020 ($11) $380 ($429) ($60) Other comprehensive income (loss) before reclassifications (49) (528) — (577) Amounts reclassified to the Consolidated Statements of Operations (101) (8) 81 (28) Net other comprehensive income (loss) (150) (536) 81 (605) Balance at December 31, 2021 ($161) ($156) ($348) ($665) Other comprehensive income (loss) before reclassifications (1,340) (2,608) (37) (3,985) Amounts reclassified to the Consolidated Statements of Operations 85 (7) 12 90 Net other comprehensive income (loss) (1,255) (2,615) (25) (3,895) Balance at December 31, 2022 ($1,416) ($2,771) ($373) ($4,560) Primary location in the Consolidated Statements of Operations of amounts reclassified from AOCI Net interest income Securities gains, net Other operating expense

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 17 - STOCKHOLDERS’ EQUITY Preferred Stock The following table summarizes the Company’s preferred stock: December 31, 2022 2021 (in millions, except per share and share data) Liquidation value per share Preferred Shares Carrying Amount Preferred Shares Carrying Amount Authorized ($25 par value per share) 100,000,000 100,000,000 Issued and outstanding: Series B $1,000 300,000 $296 300,000 $296 Series C 1,000 300,000 297 300,000 297 Series D 1,000 (1) 300,000 (2) 293 300,000 293 Series E 1,000 (1) 450,000 (3) 437 450,000 437 Series F 1,000 400,000 395 400,000 395 Series G 1,000 300,000 296 300,000 296 Total 2,050,000 $2,014 2,050,000 $2,014 (1) Equivalent to $25 per depositary share. (2) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock. (3) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock. The following table provides information related to the Company’s preferred stock outstanding as of December 31, 2022: Preferred Stock (1) Issue Date Number of Shares Issued Dividend Dates (2) Annual Per Share Dividend Rate Optional Redemption Date (3) Series B May 24, 2018 300,000 Semi-annually beginning January 6, 2019 until July 6, 2023 6.000% until July 6, 2023 July 6, 2023 Quarterly beginning October 6, 2023 3 Mo. LIBOR plus 3.003% beginning July 6, 2023 Series C October 25, 2018 300,000 Quarterly beginning January 6, 2019 until April 6, 2024 6.375% until April 6, 2024 April 6, 2024 Quarterly beginning July 6, 2024 3 Mo. LIBOR plus 3.157% beginning April 6, 2024 Series D January 29, 2019 300,000 (4) Quarterly beginning April 6, 2019 until April 6, 2024 6.350% until April 6, 2024 April 6, 2024 Quarterly beginning July 6, 2024 3 Mo. LIBOR plus 3.642% beginning April 6, 2024 Series E October 28, 2019 450,000 (5) Quarterly beginning January 6, 2020 5.000% January 6, 2025 Series F June 4, 2020 400,000 Quarterly beginning October 6, 2020 until October 6, 2025 5.650% until October 6, 2025 October 6, 2025 Quarterly beginning January 6, 2026 5 Yr. US Treasury rate plus 5.313% beginning October 6, 2025 Series G June 11, 2021 300,000 Quarterly beginning October 6, 2021 until October 6, 2026 4.000% until October 6, 2026 October 6, 2026 Quarterly beginning January 6, 2027 5 Yr. US Treasury rate plus 3.215% beginning October 6, 2026 (1) Series B through D are non-cumulative fixed-to-floating rate perpetual preferred stock, Series E is non-cumulative fixed-rate perpetual preferred stock, and Series F and G are non-cumulative fixed-rate reset perpetual preferred stock. Except in limited circumstances, each series of preferred stock does not have voting rights. (2) Dividends are payable when declared by the Company’s Board of Directors or an authorized committee thereof. (3) Redeemable at the Company’s option, in whole or in part, on any dividend payment date on or after the date stated, or in whole but not in part, at any time within 90 days following a regulatory capital treatment event as defined in the applicable certificate of designations, in each case at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Under current rules, any redemption is subject to approval by the FRB. (4) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock. (5) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock. Dividends Year Ended December 31, 2022 2021 2020 (in millions, except per share data) Dividends Declared per Share Dividends Declared Dividends Paid Dividends Declared per Share Dividends Declared Dividends Paid Dividends Declared per Share Dividends Declared Dividends Paid Common stock $1.62 $779 $779 $1.56 $670 $670 $1.56 $672 $672 Preferred stock Series A $— $— $— $20.99 $5 $8 $62.59 $15 $13 Series B 60.00 18 18 60.00 18 18 60.00 18 18 Series C 63.75 19 19 63.75 19 19 63.75 19 19 Series D 63.50 19 19 63.50 18 18 63.50 19 19 Series E 50.00 22 22 50.00 23 23 50.00 23 21 Series F 56.50 23 23 56.50 23 23 33.27 13 8 Series G 40.00 12 12 22.78 7 4 — — — Total preferred stock $113 $113 $113 $113 $107 $98 Treasury Stock The purchase of the Company’s common stock is recorded at cost. At the date of retirement or subsequent reissuance, treasury stock is reduced by the cost of such stock on a first-in, first-out basis with differences recorded in additional paid-in capital or retained earnings, as applicable. During the years ended December 31, 2022 and 2021, the Company repurchased $153 million, or 3,815,922 shares, and repurchased $295 million, or 6,455,636 shares, respectively, of its outstanding common stock, which are held in treasury stock.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 18 - SHARE-BASED COMPENSATION Citizens has share-based employee compensation plans as outlined below, pursuant to which awards are granted to employees and non-employee directors. The Company has granted time-based restricted stock units and performance-based restricted stock units, which represent the right to receive shares of stock on a future date subject to applicable vesting conditions. Citizens Financial Group, Inc. 2014 Omnibus Incentive Plan. The Company grants select employees time-based restricted stock units and performance-based restricted stock units under this plan. Time-based restricted stock units generally become vested ratably over a 3-year period and performance-based restricted stock units generally become vested in a single installment at the end of a 3-year performance period, depending on the level of performance achieved during such period relative to established targets. If a dividend is paid on shares underlying the awards prior to the date such shares are distributed, those dividends will be distributed following vesting in the same form as the dividend that has been paid to common stockholders generally. Citizens Financial Group, Inc. 2014 Non-Employee Directors Compensation Plan. The Company grants time-based restricted stock units to non-employee directors as compensation for their services under this plan. Restricted stock units granted to directors are fully vested on the grant date, with settlement of the awards deferred until a director’s cessation of service. If a dividend is paid on the shares underlying awards prior to the date such shares are distributed, they are reinvested into additional restricted stock units. Citizens Financial Group, Inc. 2014 Employee Stock Purchase Plan. Citizens maintains the Citizens Financial Group, Inc. Employee Stock Purchase Plan (the “ESPP”), which provides eligible employees an opportunity to purchase its common stock at a 10% discount. Participants may contribute up to 10% of eligible compensation to the ESPP and may purchase up to $25,000 worth of stock in any calendar year. Offering periods under the ESPP are quarterly, with shares of CFG common stock purchased on the last day of each quarter at a 10% discount from the fair market value, defined as the closing price on the day of purchase. Prior to the date the shares are purchased, participants have no any rights or privileges as a stockholder with respect to shares purchased at the end of the offering period. Restricted Stock Unit Activity The following table presents the activity related to the Company’s restricted stock unit activity: Year Ended December 31, 2022 2021 2020 Units Weighted-Average Grant Price Units Weighted-Average Grant Price Units Weighted-Average Grant Price Outstanding, January 1 3,502,956 $38.23 3,496,231 $34.37 3,000,224 $36.71 Assumed — — 82,013 49.95 — — Granted 1,844,352 48.12 1,417,370 44.97 1,947,902 32.64 Vested & Distributed (1,359,543) 37.47 (1,400,722) 38.88 (1,384,091) 38.59 Forfeited (111,164) 43.36 (91,936) 35.00 (67,804) 35.89 Outstanding, December 31 3,876,601 $43.06 3,502,956 $38.23 3,496,231 $34.37 There are 43,176,549 shares of Company common stock available for awards to be granted under the Omnibus Plan and Directors Plan. In addition, there are 3,903,590 shares available for issuance under the ESPP. Upon settlement of share-based awards, the Company generally issues new shares, but may also issue shares from treasury stock. Compensation Expense Citizens measures compensation expense related to stock awards based upon the fair value of the awards on the grant date. Compensation expense is adjusted for forfeitures as they occur. The related expense is charged to earnings on a straight-line basis over the requisite service period (e.g., vesting period) of the award. With respect to performance-based stock awards, compensation expense is adjusted upward or downward based upon the probability of achievement of performance. Awards that continue to vest after retirement are expensed over the shorter of the period of time from grant date to the final vesting date or from the grant date to the date when an employee is retirement eligible. Awards granted to employees who are retirement eligible at the grant date are generally expensed immediately upon grant. Share-based compensation expense was $84 million, $59 million and $48 million for the years ended December 31, 2022, 2021 and 2020, respectively. At December 31, 2022, the total unrecognized compensation expense for unvested awards granted was $66 million. This expense is expected to be recognized over a weighted-average period of approximately two years. Citizens recognized income tax benefits related to share-based compensation arrangements of $19 million, $12 million and $8 million for the years ended December 31, 2022, 2021 and 2020, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 19 - COMMITMENTS AND CONTINGENCIES A summary of outstanding off-balance sheet arrangements is presented below: December 31, (in millions) 2022 2021 Commitments to extend credit $96,076 $84,206 Letters of credit 2,119 1,998 Risk participation agreements 4 39 Loans sold with recourse 92 82 Marketing rights 23 26 Total $98,314 $86,351 Commitments to Extend Credit Commitments to extend credit are agreements to lend to customers in accordance with conditions contractually agreed upon in advance. Generally, the commitments have fixed expiration dates or termination clauses and may require payment of a fee. Since many of these commitments are expected to expire without being drawn upon, the contract amounts are not necessarily indicative of future cash requirements. Letters of Credit Letters of credit in the table above reflect commercial, standby financial and standby performance letters of credit. Financial and performance standby letters of credit are issued by the Company for the benefit of its customers. They are used as conditional guarantees of payment to a third party in the event the customer either fails to make specific payments (financial) or fails to complete a specific project (performance). The Company’s exposure to credit loss in the event of counterparty nonperformance in connection with the above instruments is represented by the contractual amount of those instruments. Generally, letters of credit are collateralized by cash, accounts receivable, inventory or investment securities. Credit risk associated with letters of credit is considered in determining the appropriate amounts of allowances for unfunded commitments. Standby letters of credit and commercial letters of credit are issued for terms of up to ten years and one year, respectively. Other Commitments Citizens has additional off-balance sheet arrangements that are summarized below: • Marketing Rights - During 2003, Citizens entered into a 25-year agreement to acquire the naming and marketing rights of a baseball stadium in Pennsylvania. • Loans sold with recourse - Citizens is an originator and servicer of residential mortgages and routinely sells such mortgage loans in the secondary market and to GSEs. In the context of such sales, the Company makes certain representations and warranties regarding the characteristics of the underlying loans and, as a result, may be contractually required to repurchase such loans or indemnify certain parties against losses for certain breaches of those representations and warranties. The Company also sells the government guaranteed portion of certain SBA loans to outside investors, for which it retains the servicing rights. • Risk Participation Agreements - RPAs are guarantees issued by the Company to other parties for a fee, whereby the Company agrees to participate in the credit risk of a derivative customer of the other party. The current amount of credit exposure is spread out over multiple counterparties. At December 31, 2022, the remaining terms on these RPAs ranged from less than one year to seven years. Contingencies The Company operates in a legal and regulatory environment that exposes it to potentially significant risks. A certain amount of litigation ordinarily results from the nature of the Company’s banking and other businesses. The Company is a party to legal proceedings, including class actions. The Company is also the subject of investigations, reviews, subpoenas, and regulatory matters arising out of its normal business operations which, in some instances, relate to concerns about fair lending, unfair and/or deceptive practices, and mortgage-related issues. In addition, the Company engages in discussions with relevant governmental and regulatory authorities on a regular and ongoing basis regarding various issues, and any issues discussed or identified may result in investigatory or other action being taken. Litigation and regulatory matters may result in settlements, damages, fines, penalties, public or private censure, increased costs, required remediation, restrictions on business activities, or other impacts on the Company. In these disputes and proceedings, the Company contests liability and the amount of damages as appropriate. Given their complex nature, and based on the Company's experience, it may be years before some of these matters are finally resolved. Moreover, before liability can be reasonably estimated for a claim, numerous legal and factual issues may need to be examined, including through potentially lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal issues relevant to the proceedings in question. The Company cannot predict with certainty if, how, or when such claims will be resolved or what the eventual settlement, fine, penalty or other relief, if any, may be, particularly for claims that are at an early stage in their development or where claimants seek substantial or indeterminate damages. The Company recognizes a provision for a claim when, in the opinion of management after seeking legal advice, it is probable that a liability exists and the amount of loss can be reasonably estimated. In many proceedings, however, it is not possible to determine whether any loss is probable or to estimate the amount of any loss. Based on information currently available, the advice of legal counsel and other advisers, and established reserves, management believes that the aggregate liabilities, if any, potentially arising from these proceedings will not have a materially adverse effect on the Company’s Consolidated Financial Statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 20 - FAIR VALUE MEASUREMENTS Citizens measures or monitors many of its assets and liabilities on a fair value basis. Fair value is used on a recurring basis for assets and liabilities for which fair value is the required or elected measurement basis of accounting. Additionally, fair value is used on a nonrecurring basis to evaluate assets for impairment or for disclosure purposes. Nonrecurring fair value adjustments typically involve the application of lower of cost or market accounting or write-downs of individual assets. Citizens also applies the fair value measurement guidance to determine amounts reported for certain disclosures in this Note for assets and liabilities that are not required to be reported at fair value in the financial statements. Fair Value Option Citizens elected to account for residential mortgage LHFS and certain commercial and industrial, and commercial real estate LHFS at fair value. The election of the fair value option for financial assets and financial liabilities is optional and irrevocable. Applying fair value accounting to residential mortgage LHFS better aligns the reported results of the economic changes in the value of these loans and their related economic hedge instruments. Certain commercial and industrial, and commercial real estate LHFS are managed by a commercial secondary loan desk that provides liquidity to banks, finance companies and institutional investors. Applying fair value accounting to this portfolio is appropriate because the Company holds these loans with the intent to sell within the near-term periods. The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of LHFS measured at fair value: December 31, 2022 December 31, 2021 (in millions) Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Greater (Less) Than Aggregate Unpaid Principal Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Greater (Less) Than Aggregate Unpaid Principal Residential mortgage loans held for sale, at fair value $666 $656 $10 $2,657 $2,591 $66 Commercial and industrial, and commercial real estate loans held for sale, at fair value 108 127 (19) 76 79 (3) Residential Mortgage Loans Held for Sale The fair value of residential mortgage LHFS is derived from observable mortgage security prices and includes adjustments for loan servicing value, agency guarantee fees, and other loan level attributes which are mostly observable in the marketplace. Credit risk does not significantly impact the valuation since these loans are sold shortly after origination. Therefore, the Company classifies residential mortgage LHFS in Level 2 of the fair value hierarchy. Residential mortgage loans accounted for under the fair value option are initially measured at fair value when the financial asset is originated or purchased. Subsequent changes in fair value are recognized in mortgage banking fees in the Consolidated Statements of Operations. Interest income on residential mortgage loans held for sale is calculated based on the contractual interest rate of the loan and is recorded in interest income. Commercial and Industrial, and Commercial Real Estate Loans Held for Sale The fair value of commercial and industrial, and commercial real estate LHFS is estimated using observable prices of similar loans that transact in the marketplace. In addition, Citizens uses external pricing services that provide estimates of fair values based on quotes from various dealers transacting in the market, sector curves or benchmarking techniques. Therefore, the Company classifies the commercial and industrial, and commercial real estate loans managed by the commercial secondary loan desk in Level 2 of the fair value hierarchy given the observable market inputs. The loans accounted for under the fair value option are initially measured at fair value when the financial asset is recognized. Subsequent changes in fair value are recognized in capital markets fees on the Consolidated Statements of Operations. Since all loans in the Company’s commercial trading portfolio consist of floating rate obligations, all changes in fair value are due to changes in credit risk. Such credit-related fair value changes may include observed changes in overall credit spreads and/or changes to the creditworthiness of an individual borrower. Interest income on commercial and industrial, and commercial real estate loans held for sale is calculated based on the contractual interest rate of the loan and is recorded in interest income. Recurring Fair Value Measurements Citizens measures fair value using the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is based upon quoted market prices in an active market, where available. If quoted prices are not available, observable market-based inputs or independently sourced parameters are used to develop fair value, whenever possible. Such inputs may include prices of similar assets or liabilities, yield curves, interest rates, prepayment speeds, and foreign exchange rates. A portion of the Company’s assets and liabilities are carried at fair value, including securities available for sale, derivative instruments and other investment securities. In addition, the Company elects to account for its loans associated with its mortgage banking business and secondary loan trading desk at fair value. Citizens classifies its assets and liabilities that are carried at fair value in accordance with the three-level valuation hierarchy: • Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by market data for substantially the full term of the asset or liability. • Level 3. Unobservable inputs that are supported by little or no market information and that are significant to the fair value measurement. Classification in the hierarchy is based upon the lowest level input that is significant to the fair value measurement of the asset or liability. For instruments classified in Levels 1 and 2 where inputs are primarily based upon observable market data, there is less judgment applied in arriving at the fair value. For instruments classified in Level 3, management judgment is more significant due to the lack of observable market data. Citizens reviews and updates the fair value hierarchy classifications on a quarterly basis. Changes from one quarter to the next related to the observability of inputs in fair value measurements may result in a reclassification between the fair value hierarchy levels and are recognized based on period-end balances. Citizens utilizes a variety of valuation techniques to measure its assets and liabilities at fair value on a recurring basis. The valuation methodologies used for significant assets and liabilities carried on the balance sheet at fair value on a recurring basis are presented below: Debt securities available for sale The fair value of debt securities classified as AFS is based upon quoted prices, if available. Where observable quoted prices are available in an active market, the security is classified as Level 1 in the fair value hierarchy. Classes of instruments that are valued using this market approach include debt securities issued by the U.S. Treasury. If quoted market prices are not available, the fair value for the security is estimated under the market or income approach using pricing models. These instruments are classified as Level 2 because they currently trade in active markets and the inputs to the valuations are observable. The pricing models used to value securities generally begin with market prices (or rates) for similar instruments and make adjustments based on the characteristics of the instrument being valued. These adjustments reflect assumptions made regarding the sensitivity of each security’s value to changes in interest rates and prepayment speeds. Classes of instruments that are valued using this market approach include specified pool mortgage “pass-through” securities, CLOs, and other debt securities issued by U.S. government-sponsored entities and state and political subdivisions. The pricing models used to value securities under the income approach generally begin with the contractual cash flows of each security and make adjustments based on forecasted prepayment speeds, default rates, and other market-observable information. The adjusted cash flows are then discounted at a rate derived from observed rates of return for comparable assets or liabilities that are traded in the market. Classes of instruments that are valued using this market approach include residential and commercial CMOs. A significant majority of the Company’s Level 1 and 2 debt securities are priced using an external pricing service. Citizens verifies the accuracy of the pricing provided by its primary outside pricing service on a quarterly basis. This process involves using a secondary external vendor to provide valuations for the Company’s securities portfolio for comparison purposes. Any valuation discrepancies beyond a certain threshold are researched and, if necessary, corroborated by an independent outside broker. In certain cases where there is limited activity or less transparency around inputs to the valuation model, securities are classified as Level 3. Mortgage Servicing Rights MSRs do not trade in an active market with readily observable prices. MSRs are classified as Level 3 since the valuation methodology utilizes significant unobservable inputs. The fair value is calculated using a discounted cash flow model which uses assumptions, including weighted-average life, prepayment assumptions and weighted-average option adjusted spread. The underlying assumptions and estimated values are corroborated by values received from independent third parties based on their review of the servicing portfolio, and comparisons to market transactions. In addition, the MSR Policy is approved by the Asset Liability Committee. Refer to Note 8 for more information. Derivatives The majority of the Company’s derivatives portfolio is composed of interest rate swaps, which are traded in over-the-counter markets where quoted market prices are not readily available. For these interest rate derivatives, fair value is determined utilizing models that primarily use market observable inputs, such as swap rates and yield curves. The pricing models used to value interest rate swaps calculate the sum of each instrument’s fixed and variable cash flows, which are then discounted using an appropriate yield curve (i.e., Overnight Index Swap curve) to arrive at the fair value of each swap. The pricing models do not contain a high level of subjectivity as the methodologies used do not require significant judgment. Citizens also considers certain adjustments to the modeled price that market participants would make when pricing each instrument, including a credit valuation adjustment that reflects the credit quality of the swap counterparty. Citizens incorporates the effect of exposure to a particular counterparty’s credit by netting its derivative contracts with the available collateral and calculating a credit valuation adjustment on the basis of the net position with the counterparty where permitted. The determination of this adjustment requires judgment on behalf of Company management; however, the total amount of this portfolio-level adjustment is not material to the total fair value of the interest rate swaps . Therefore, interest rate swaps are classified as Level 2 in the valuation hierarchy. The fair value of commodity derivatives uses the mid-point of market observable quoted prices as an input into the fair value model. The model uses the observed market prices combined with other market observed inputs to derive the fair value of the instrument, which generally classifies it as Level 2 instrument. The fair value of foreign exchange derivatives uses the mid-point of daily quoted currency spot prices. A valuation model estimates fair value based on the quoted spot rates together with interest rate yield curves and forward currency rates. Since all of these inputs are observable in the market, foreign exchange derivatives are classified as Level 2 in the fair value hierarchy. The fair value of TBA contracts is estimated using observable prices of similar loan pools that transact in the marketplace, as well as sector curves and benchmarking techniques. Therefore, the Company classifies TBA contracts in Level 2 of the fair value hierarchy given the observable market inputs. Other contracts primarily consist of interest rate lock commitments. Interest rate lock commitments are valued utilizing internally generated loan closing rate assumptions, which are a significant unobservable input, and therefore are classified as Level 3 in the fair value hierarchy. Equity Securities, at fair value The fair value of money market mutual fund investments is determined based upon unadjusted quoted market prices and is considered a Level 1 fair value measurement. The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at December 31, 2022: (in millions) Total Level 1 Level 2 Level 3 Debt securities available for sale: Mortgage-backed securities $19,313 $— $19,313 $— Collateralized loan obligations 1,206 — 1,206 — State and political subdivisions 2 — 2 — U.S. Treasury and other 3,486 3,486 — — Total debt securities available for sale 24,007 3,486 20,521 — Loans held for sale, at fair value: Residential loans held for sale 666 — 666 — Commercial loans held for sale 108 — 108 — Total loans held for sale, at fair value 774 — 774 — Mortgage servicing rights 1,530 — — 1,530 Derivative assets: Interest rate contracts 347 — 347 — Foreign exchange contracts 527 — 527 — Commodities contracts 953 — 953 — TBA contracts 7 — 7 — Other contracts 5 — — 5 Total derivative assets 1,839 — 1,834 5 Equity securities, at fair value (1) 110 110 — — Total assets $28,260 $3,596 $23,129 $1,535 Derivative liabilities: Interest rate contracts $1,632 $— $1,632 $— Foreign exchange contracts 519 — 519 — Commodities contracts 942 — 942 — TBA contracts 14 — 14 — Other contracts 4 — — 4 Total derivative liabilities 3,111 — 3,107 4 Total liabilities $3,111 $— $3,107 $4 (1) Excludes investments of $43 million included in other assets in the Consolidated Balance Sheets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient. These nonredeemable investments include capital contributions to private investment funds and have unfunded capital commitments of $42 million at December 31, 2022, which may be called at any time during prescribed time periods. The credit exposure is generally limited to the carrying amount of investments made and unfunded capital commitments. The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at December 31, 2021: (in millions) Total Level 1 Level 2 Level 3 Debt securities available for sale: Mortgage-backed securities $24,847 $— $24,847 $— Collateralized loan obligations 1,207 — 1,207 — State and political subdivisions 2 — 2 — U.S. Treasury and other 11 11 — — Total debt securities available for sale 26,067 11 26,056 — Loans held for sale, at fair value: Residential loans held for sale 2,657 — 2,657 — Commercial loans held for sale 76 — 76 — Total loans held for sale, at fair value 2,733 — 2,733 — Mortgage servicing rights 1,029 — — 1,029 Derivative assets: Interest rate contracts 692 — 692 — Foreign exchange contracts 263 — 263 — Commodities contracts 508 — 508 — TBA contracts 8 — 8 — Other contracts 38 — — 38 Total derivative assets 1,509 — 1,471 38 Equity securities, at fair value (1) 102 95 7 — Total assets $31,440 $106 $30,267 $1,067 Derivative liabilities: Interest rate contracts $176 $— $176 $— Foreign exchange contracts 231 — 231 — Commodities contracts 505 — 505 — TBA contracts 8 — 8 — Other contracts 2 — 2 — Total derivative liabilities 922 — 922 — Total liabilities $922 $— $922 $— (1) Excludes investments of $7 million that are measured at fair value using the net asset value per share (or its equivalent) practical expedient. The following table presents a roll forward of the balance sheet amounts for assets measured at fair value on a recurring basis and classified as Level 3: For the Year Ended December 31, 2022 2021 (in millions) Mortgage Servicing Rights Other Derivative Contracts Mortgage Servicing Rights Other Derivative Contracts Beginning balance $1,029 $38 $658 $197 Issuances 279 93 419 377 Acquisitions (1) 16 — — — Settlements (2) (137) 154 (212) (328) Changes in fair value during the period recognized in earnings (3) 343 (284) 164 (208) Ending balance $1,530 $1 $1,029 $38 (1) Represents MSRs acquired as part of the Investors acquisition. (2) For MSRs, represents changes in value of the MSRs due to i) passage of time including the impact from both regularly scheduled loan principal payments and partial paydowns, and ii) loans that paid off during the period. For other derivative contracts, represents the closeout of an interest rate lock commitment. (3) Represents changes in value primarily driven by market conditions. These changes are recorded in mortgage banking fees in the Consolidated Statements of Operations. The following table presents quantitative information about the Company’s Level 3 assets, including the range and weighted-average of the significant unobservable inputs used to fair value these assets, as well as valuation techniques used. As of December 31, 2022 Valuation Technique Unobservable Input Range (Weighted Average) Mortgage servicing rights Discounted Cash Flow Constant prepayment rate 6.19-17.80% CPR (6.80% CPR) Option adjusted spread 398-1,058 bps (629 bps) Other derivative contracts Internal Model Pull through rate 28.62-99.90% (83.71%) MSR value (1.60)-144.84 bps (95.80 bps) Nonrecurring Fair Value Measurements Fair value is also used on a nonrecurring basis to evaluate certain assets for impairment or for disclosure purposes. The following valuation techniques are utilized to measure significant assets for which the Company utilizes fair value on a nonrecurring basis: Impaired Loans The carrying amount of collateral-dependent impaired loans is compared to the appraised value of the collateral less costs to dispose and is classified as Level 2. Any excess of carrying amount over the appraised value is charged to the ALLL. The following table presents losses on assets measured at fair value on a nonrecurring basis and recorded in earnings: Year Ended December 31, (in millions) 2022 2021 2020 Collateral-dependent loans ($4) ($27) ($82) The following table presents assets measured at fair value on a nonrecurring basis: December 31, 2022 December 31, 2021 (in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Collateral-dependent loans $582 $— $582 $— $645 $— $645 $— Fair Value of Financial Instruments The following tables present the estimated fair value for financial instruments not recorded at fair value in the Consolidated Financial Statements. The carrying amounts are recorded in the Consolidated Balance Sheets under the indicated captions: December 31, 2022 Total Level 1 Level 2 Level 3 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial assets: Debt securities held to maturity $9,834 $9,042 $— $— $9,253 $8,506 $581 $536 Other loans held for sale 208 208 — — — — 208 208 Loans and leases 156,662 151,601 — — 582 582 156,080 151,019 Other assets 1,058 1,058 — — 1,038 1,038 20 20 Financial liabilities: Deposits 180,724 180,566 — — 180,724 180,566 — — Short-term borrowed funds 3 3 — — 3 3 — — Long-term borrowed funds 15,887 15,469 — — 15,887 15,469 — — December 31, 2021 Total Level 1 Level 2 Level 3 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial assets: Debt securities held to maturity $2,242 $2,289 $— $— $1,505 $1,557 $737 $732 Other loans held for sale 735 735 — — — — 735 735 Loans and leases 128,163 128,156 — — 645 645 127,518 127,511 Other assets 624 624 — — 609 609 15 15 Financial liabilities: Deposits 154,361 154,366 — — 154,361 154,366 — — Short-term borrowed funds 74 74 — — 74 74 — — Long-term borrowed funds 6,932 7,188 — — 6,932 7,188 — —

NONINTEREST INCOME

NONINTEREST INCOME	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
NONINTEREST INCOME	NOTE 21 - NONINTEREST INCOME Revenues from Contracts with Customers Citizens recognizes revenue from contracts with customers in the amount of consideration it expects to receive upon the transfer of control of a good or service. The timing of recognition is dependent on whether the Company satisfies a performance obligation by transferring control of the product or service to a customer over time or at a point in time. Judgments are made in the recognition of income including the timing of satisfaction of performance obligations and determination of the transaction price. The following table presents the components of revenue from contracts with customers disaggregated by revenue stream and business operating segment: Year Ended December 31, 2022 (in millions) Consumer Banking Commercial Banking Other Consolidated Service charges and fees $291 $124 $3 $418 Card fees 228 43 — 271 Capital markets fees — 341 — 341 Trust and investment services fees 249 1 — 250 Other banking fees 1 17 1 19 Total revenue from contracts with customers $769 $526 $4 $1,299 Total revenue from other sources (1) 294 319 97 710 Total noninterest income $1,063 $845 $101 $2,009 Year Ended December 31, 2021 (in millions) Consumer Banking Commercial Banking Other Consolidated Service charges and fees $302 $105 $— $407 Card fees 216 32 — 248 Capital markets fees — 419 — 419 Trust and investment services fees 239 — — 239 Other banking fees — 12 — 12 Total revenue from contracts with customers $757 $568 $— $1,325 Total revenue from other sources (1) 466 241 103 810 Total noninterest income $1,223 $809 $103 $2,135 Year Ended December 31, 2020 (in millions) Consumer Banking Commercial Banking Other Consolidated Service charges and fees $301 $100 $— $401 Card fees 185 31 — 216 Capital markets fees — 249 — 249 Trust and investment services fees 203 — — 203 Other banking fees 1 10 — 11 Total revenue from contracts with customers $690 $390 $— $1,080 Total revenue from other sources (1) 965 205 69 1,239 Total noninterest income $1,655 $595 $69 $2,319 (1) Includes bank-owned life insurance income of $88 million, $67 million and $57 million for the years ended December 31, 2022, 2021 and 2020, respectively. Citizens does not have any material contract assets, liabilities, or other receivables recorded on its Consolidated Balance Sheets related to revenues from contracts with customers as of December 31, 2022. Citizens has elected to exclude disclosure of unsatisfied performance obligations for contracts with an original expected length of one year or less and contracts for which the Company recognized revenue at the amount to which the Company has the right to invoice for services performed. A description of the above components of revenue from contracts with customers is presented below: Service Charges and Fees Service charges and fees include fees earned from deposit products in lieu of compensating balances, service charges for transactions performed upon depositors’ request, as well as fees earned from performing cash management activities. Service charges on deposit products are recognized over the period in which the related service is provided, typically monthly. Service fees are recognized at a point in time upon completion of the requested service transaction. Fees on cash management products and servicing fees on loans sold without recognition of a servicing right are recognized over time (typically monthly) as services are provided. Card Fees Card fees include interchange income from credit and debit card transactions and are recognized at a point in time upon settlement by the association network. Interchange rates are generally set by the association network based on purchase volume and other factors. Other card-related fees are recognized at a point in time upon completion of the transaction. Costs related to card rewards programs are recognized in current earnings as the rewards are earned by the customer and are presented as a reduction to card fees on the Consolidated Statements of Operations. Capital Markets Fees Capital markets fees include fees received from leading or participating in loan syndications, bond and equity underwriting services, and advisory fees. Loan syndication and underwriting fees are recognized as revenue at a point in time when the Company has rendered all services to, and is entitled to collect the fee from, the borrower or the issuer, and there are no significant contingencies associated with the fee. Underwriting expenses passed through from the lead underwriter are recognized within other operating expense on the Consolidated Statements of Operations. Advisory fees for mergers and acquisitions are recognized over time, while valuation services and fairness opinions are recognized at a point in time upon completion of the advisory service. Trust and Investment Services Fees Trust and investment services fees include fees from investment management services and brokerage services. Fees from investment management services are based on asset market values and are recognized over the period in which the related service is provided. Brokerage services include custody fees, commission income, trailing commissions and other investment securities. Custody fees are recognized on a monthly basis for customers that are assessed custody fees. Commission income is recognized at a point in time on trade date. Trailing commissions such as 12b-1 fees, insurance renewal income, and income based on asset or investment levels in future periods are recognized at a point in time when the asset balance is known, or the renewal occurs and the income is no longer constrained. For the years ended December 31, 2022, 2021 and 2020, the Company recognized trailing commissions of $15 million, $16 million and $14 million, respectively, related to ongoing commissions from previous investment sales. Fees from other investment services are recognized at a point in time upon completion of the service. O ther Banking Fees Other banking fees include fees for various transactional banking activities such as letter of credit fees, foreign wire transfers and other transactional services. These fees are recognized in a manner that reflects the timing of when transactions occur and as services are provided. Revenue from Other Sources Letter of Credit and Loan Fees Letter of credit and loan fees primarily includes fees received related to letter of credit agreements as well as loan fees received from lending activities that are not deferrable. These fees are recognized upon execution of the contract. Foreign Exchange and Derivative Products Foreign exchange and derivative products primarily includes the fees received from foreign exchange and interest rate derivative contracts executed with customers to meet their hedging and financing needs. These fees are generally recognized upon execution of the contracts. Foreign exchange and derivative products also include the mark-to-market gains and losses recognized on these customer contracts and offsetting derivative contracts that are executed with external counterparties to hedge the foreign exchange and interest rate risk associated with the customer contracts. Mortgage Banking Fees Mortgage banking fees primarily include gains on sales of residential mortgages originated with the intent to sell and servicing fees on mortgages where the Company is the servicer. Mortgage banking fees also include valuation adjustments for mortgage loans held-for-sale that are measured at the lower of cost or fair value, as well as mortgage loans originated with the intent to sell that are measured at fair value under the fair value option. Changes in the value of MSRs are reported in mortgage fees and related income. For a further discussion of MSRs, see Note 8. Net interest income from mortgage loans is recorded in interest income. Other Income Bank-owned life insurance is stated at its cash surrender value. Citizens is the beneficiary of the life insurance policies on current and former officers and selected employees of the Company. Net changes in the carrying amount of the cash surrender value are an adjustment of premiums paid in determining the expense or income to be recognized under the life insurance policy for the period.

OTHER OPERATING EXPENSE

OTHER OPERATING EXPENSE	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
OTHER OPERATING EXPENSE	NOTE 22 - OTHER OPERATING EXPENSE The following table presents the details of other operating expense: Year Ended December 31, (in millions) 2022 2021 2020 Marketing $166 $111 $100 Deposit insurance 96 66 66 Other 323 234 253 Other operating expense $585 $411 $419

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 23 - INCOME TAXES Citizens uses an asset and liability (balance sheet) approach for financial accounting and reporting of income taxes, resulting in two components of income tax expense: current and deferred. Current income tax expense approximates taxes to be paid or refunded for the current period. Deferred income tax expense results from changes in gross deferred tax assets and liabilities between periods. These gross deferred tax assets and liabilities represent changes in taxes expected to be paid in the future due to reversals of temporary differences between the bases of the assets and liabilities as measured under tax laws and their bases reported in the Consolidated Financial Statements as measured under GAAP. Citizens also assesses the probability that the positions taken, or expected to be taken, in its income tax returns will be sustained by taxing authorities. A “more likely than not” (more than 50 percent) recognition threshold must be met before a tax benefit can be recognized. Tax positions that are more likely than not to be sustained are reflected in the Company’s Consolidated Financial Statements. The following table presents total income tax expense: Year Ended December 31, (in millions) 2022 2021 2020 Income tax expense $582 $658 $241 Tax effect of changes in OCI (1,319) (199) 112 Total comprehensive income tax expense (benefit) ($737) $459 $353 The following table presents the components of income tax expense: (in millions) Current Deferred Total Year Ended December 31, 2022 U.S. federal $355 $88 $443 State and local 170 (31) 139 Total $525 $57 $582 Year Ended December 31, 2021 U.S. federal $871 ($345) $526 State and local 216 (84) 132 Total $1,087 ($429) $658 Year Ended December 31, 2020 U.S. federal $377 ($181) $196 State and local 102 (57) 45 Total $479 ($238) $241 The following table presents a reconciliation between the U.S. federal income tax rate and the Company’s effective income tax rate: Year Ended December 31, 2022 2021 2020 (in millions, except ratio data) Amount Rate Amount Rate Amount Rate U.S. federal income tax expense and tax rate $558 21.0 % $625 21.0 % $273 21.0 % Increase (decrease) resulting from: State and local income taxes (net of federal benefit) 133 5.0 126 4.2 54 4.2 Bank-owned life insurance (19) (0.7) (14) (0.5) (12) (0.9) Tax-exempt interest (8) (0.3) (7) (0.2) (10) (0.7) Tax advantaged investments (including related credits) (102) (3.8) (95) (3.2) (68) (5.3) Other tax credits (9) (0.3) (7) (0.2) (6) (0.5) Adjustments for uncertain tax positions 1 — 3 0.1 (1) (0.1) Non-deductible FDIC premiums 20 0.7 14 0.5 14 1.1 Legacy tax matters 3 0.1 — — (4) (0.3) Other 5 0.2 13 0.4 1 — Total income tax expense and tax rate $582 21.9 % $658 22.1 % $241 18.5 % The following table presents the tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities: December 31, (in millions) 2022 2021 Deferred tax assets: Other comprehensive income $1,546 $227 Allowance for credit losses 511 448 Federal and state net operating and capital loss carryforwards 77 50 Accrued expenses not currently deductible 863 676 Investment and other tax credit carryforwards 131 110 Other 19 — Total deferred tax assets 3,147 1,511 Valuation allowance (133) (103) Deferred tax assets, net of valuation allowance 3,014 1,408 Deferred tax liabilities: Leasing transactions 287 331 Amortization of intangibles 413 379 Depreciation 470 256 Pension and other employee compensation plans 128 132 Partnerships 87 95 Deferred Income 12 85 MSRs 203 130 Total deferred tax liabilities 1,600 1,408 Net deferred tax asset (liability) $1,414 $— Deferred tax assets are recognized for net operating loss carryforwards, capital loss carryforwards and tax credit carryforwards. Valuation allowances are recorded, as necessary, to reduce deferred tax assets to the amounts that management concludes are more likely than not to be realized. At December 31, 2022, the Company had federal and state tax net operating loss carryforwards of $719 million and capital loss carryforwards of $133 million. The majority of the federal and state tax net operating loss carryforwards, if not utilized, will expire in varying amounts through 2040, while the capital loss and tax credit carryforwards expire in varying amounts through 2027 and 2029, respectively. Limitations on the ability to realize these carryforwards are reflected in the associated valuation allowance. At December 31, 2022, the Company had a valuation allowance of $133 million against various deferred tax assets related to federal and state net operating losses, capital losses and state tax credits, as the Company’s current assessment is that it is more likely than not that the Company will not recognize a portion of the deferred tax assets related to these items. Effective with the fiscal year ended September 30, 1997, the reserve method for bad debts was no longer permitted for tax purposes. The repeal of the reserve method required the recapture of the reserve balance in excess of certain base year reserve amounts attributable to years ended prior to 1988. At December 31, 2022, the Company’s base year loan loss reserves attributable to years ended prior to 1988, for which no deferred income taxes have been provided, was $557 million. This base year reserve may become taxable if certain distributions are made with respect to the stock of the Company or if CBNA ceases to qualify as a bank for tax purposes. No actions are planned that would cause this reserve to become wholly or partially taxable. Citizens files income tax returns in the U.S. federal jurisdiction and in various state and local jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal or state and local income tax examinations by major tax authorities for years before 2018. The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits: December 31, (in millions) 2022 2021 2020 Balance at the beginning of the year $7 $4 $5 Gross increase for tax positions related to current year — 1 — Gross increase for tax positions related to prior years — 3 — Decrease for tax positions as a result of the lapse of the statutes of limitations — (1) (1) Decrease for tax positions related to settlements with taxing authorities (1) — — Balance at end of year $6 $7 $4 Tax positions are measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The difference between the benefit recognized for a position and the tax benefit claimed on a tax return is referred to as an unrecognized tax benefit. Any adjustment to unrecognized tax benefits is recorded in income tax expense in the Consolidated Statements of Operations. The Company does not expect the balance of unrecognized tax benefits to significantly change in the next twelve months.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 24 - EARNINGS PER SHARE Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period. Net income available to common stockholders represents net income after preferred stock dividends, accretion of the discount on preferred stock issuances, and gains or losses from any repurchases of preferred stock. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period, plus potential dilutive shares such as share-based payment awards and warrants using the treasury stock method. Year Ended December 31, (in millions, except share and per share data) 2022 2021 2020 Numerator (basic and diluted): Net income $2,073 $2,319 $1,057 Less: Preferred stock dividends 113 113 107 Net income available to common stockholders $1,960 $2,206 $950 Denominator: Weighted-average common shares outstanding - basic 475,959,815 425,669,451 427,062,537 Dilutive common shares: share-based awards 1,843,327 1,766,367 1,095,243 Weighted-average common shares outstanding - diluted 477,803,142 427,435,818 428,157,780 Earnings per common share: Basic $4.12 $5.18 $2.22 Diluted (1) 4.10 5.16 2.22 (1) Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. Excluded from the computation of diluted EPS were weighted average antidilutive shares totaling 949,606, 2,929 and 1,338,130 for the years ended December 31, 2022, 2021 and 2020, respectively.

REGULATORY MATTERS

REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2022
Mortgage Banking [Abstract]
REGULATORY MATTERS	NOTE 25 - REGULATORY MATTERS As a BHC and FHC, Citizens is subject to regulation and supervision by the FRB. Our banking subsidiary, CBNA, is a national banking association primarily regulated by the OCC. Under the current U.S. Basel III capital framework, the Company and CBNA must meet the following specific minimum requirements: CET1 capital ratio of 4.5%, tier 1 capital ratio of 6.0%, total capital ratio of 8.0% and tier 1 leverage ratio of 4.0%. As a BHC the Company’s SCB of 3.4% is imposed on top of the three minimum risk-based capital ratios listed above and a CCB of 2.5% is imposed on top of the three minimum risk-based capital ratios listed above for CBNA. The Company’s SCB will be re-calibrated with each biennial supervisory stress test and updated annually to reflect the Company’s planned common stock dividends. In addition, the Company must not be subject to a written agreement, order or capital directive with any of its regulators. Failure to meet minimum capital requirements can result in the initiation of certain actions that, if undertaken, could have a material effect on the Company’s Consolidated Financial Statements. The following table presents the capital ratios for the Company and CBNA under the U.S. Basel III Standardized rules. The Company and CBNA have both declared as an “AOCI opt-out” institution, which means they are not required to recognize the AOCI impact of net unrealized gains and losses on debt securities and accumulated net gains and losses on cash flow hedges and certain defined benefit pension plan assets in regulatory capital. In addition, both entities elected to delay the estimated impact of CECL on regulatory capital for a two-year period ending December 31, 2021, followed by a three-year transition period ending December 31, 2024, to phase-in the aggregate amount of the capital benefit provided during the initial two-year delay. Actual Required Minimum Capital (in millions, except ratio data) Amount Ratio Amount Ratio (1) As of December 31, 2022 CET1 capital CFG $18,574 10.0 % $14,633 7.9 % CBNA 20,669 11.2 12,935 7.0 Tier 1 capital CFG 20,588 11.1 17,411 9.4 CBNA 20,669 11.2 15,706 8.5 Total capital CFG 23,755 12.8 21,116 11.4 CBNA 23,534 12.7 19,402 10.5 Tier 1 leverage CFG 20,588 9.3 8,831 4.0 CBNA 20,669 9.4 8,807 4.0 As of December 31, 2021 CET1 capital CFG $15,656 9.9 % $12,548 7.9 % CBNA 17,039 10.7 11,099 7.0 Tier 1 capital CFG 17,670 11.1 14,930 9.4 CBNA 17,039 10.7 13,477 8.5 Total capital CFG 20,244 12.7 18,107 11.4 CBNA 19,600 12.4 16,648 10.5 Tier 1 leverage CFG 17,670 9.7 7,272 4.0 CBNA 17,039 9.4 7,251 4.0 (1) Represents minimum requirement under the current capital framework plus the SCB of 3.4% and CCB of 2.5% for CFG and CBNA, respectively. The SCB and CCB are not applicable to the Tier 1 leverage ratio. The Company’s capital distributions are subject to the oversight of the FRB. Under the FRB’s SCB framework failure to maintain risk-based capital ratios above respective minimum requirements including the SCB would result in graduated restrictions on the Company’s ability to make certain discretionary bonus payments and capital distributions, including common stock dividends and share repurchases. The timing and amount of future dividends and share repurchases will depend on various factors, including the Company’s capital position, financial performance, capital impacts of strategic initiatives, market conditions, receipt of required regulatory approvals and other regulatory considerations. All future capital distributions are subject to consideration and approval by the Board of Directors prior to execution. See Note 17 for more information regarding the Company’s common stock repurchases and dividends.

BUSINESS OPERATING SEGMENTS

BUSINESS OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
BUSINESS OPERATING SEGMENTS	NOTE 26 - BUSINESS OPERATING SEGMENTS Citizens is managed by its Chief Executive Officer on a segment basis. The Company’s two business operating segments are Consumer Banking and Commercial Banking. The business segments are determined based on the products and services provided, or the type of customer served. Each segment has a segment head who reports directly to the Chief Executive Officer. The Chief Executive Officer has final authority over resource allocation decisions and performance assessment. The business segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer. Reportable Segments Segment results are determined based upon the Company’s management reporting system, which assigns balance sheet and statement of operations items to each of the business segments. The process is designed around the Company’s organizational and management structure. The results derived are not necessarily comparable with similar information published by other financial institutions. A description of each reportable segment and table of financial results is presented below: Consumer Banking The Consumer Banking segment focuses on retail customers and small businesses with annual revenues of up to $25 million. It offers traditional banking products and services including deposit products, home loans, education loans, credit cards, business loans, and unsecured product finance and personal loans in addition to financial management services. It also operates an indirect auto financing business, providing financing for both new and used vehicles through auto dealerships. The segment’s distribution channels include a branch network, ATMs and a work force of experienced specialists ranging from financial consultants, mortgage loan officers and business banking officers to private bankers. The Company’s Consumer Banking value proposition is based on providing simple, easy to understand product offerings and a convenient banking experience with a more personalized approach. Commercial Banking The Commercial Banking segment primarily targets companies with annual revenues from $25 million to $3.0 billion and provides a full complement of financial products and solutions including loans, leases, trade financing, deposits, cash management, commercial cards, foreign exchange, interest rate risk management, corporate finance and capital markets advisory capabilities. It focuses on middle-market companies, large corporations and institutions and has dedicated teams with industry expertise in government banking, not-for-profit, healthcare, technology, professionals, oil and gas, asset finance, franchise finance, asset-based lending, commercial real estate, private equity and sponsor finance. While the segment’s business development efforts are predominantly focused in the Company’s footprint, some of its specialized industry businesses also operate selectively on a national basis (such as healthcare, asset finance and franchise finance). A key component of Commercial Banking’s growth strategy is to bring ideas to clients that help their businesses thrive, and in doing so, expand the loan portfolio and ancillary product sales. Non-segment Operations Other Non-segment operations are classified as Other and include assets, liabilities, capital, revenues, provision (benefit) for credit losses, expenses and income tax expense not attributed to our Consumer or Commercial Banking segments as well as treasury and community development. Management accounting practices utilized by the Company as the basis of presentation for segment results include the following: FTP adjustments Citizens utilizes an FTP system to eliminate the effect of interest rate risk from the segments’ net interest income. This risk is centrally managed within the Treasury function and reported in Other non-segment operations. The FTP methodology provides a funds credit for sources of funds and a funds charge for the use of funds by each segment. The sum of the interest income/expense and FTP charges/credits for each segment is its designated net interest income. The offset to these FTP charges and credits is recorded in Other non-segment operations. Effective January 1, 2022, the Company refined its FTP credit methodology for deposits provided by each business segment. The rationale for this FTP refinement was to better estimate the net interest income resulting from the strong growth in deposits caused by the COVID government stimulus. This resulted in lower net interest income, primarily in Consumer, offset by an increase in Other. Prior periods have not been restated. Provision for credit losses allocation Provision for credit losses is allocated to each business segment based on actual net charge-offs recognized by the business segment. The difference between the consolidated provision for credit losses and the business segments’ net charge-offs is reflected in Other non-segment operations. Income tax allocation Income taxes are assessed to each line of business at a standard tax rate with the residual tax expense or benefit to arrive at the consolidated effective tax rate included in Other non-segment operations. Expense allocation Noninterest expenses incurred by centrally managed operations or business lines that directly support another business line’s operations are charged to the applicable business line based on its utilization of those services. Goodwill For impairment testing purposes, the Company allocates all goodwill to its Consumer Banking and Commercial Banking reporting units. Substantially all revenues generated and long-lived assets held by the Company’s business segments are derived from clients that reside in the United States. Neither business segment earns revenue from a single external customer that represents ten percent or more of the Company’s total revenues. As of and for the Year Ended December 31, 2022 (in millions) Consumer Banking Commercial Banking Other Consolidated Net interest income $4,043 $2,103 ($134) $6,012 Noninterest income 1,063 845 101 2,009 Total revenue 5,106 2,948 (33) 8,021 Noninterest expense 3,391 1,223 278 4,892 Profit (loss) before provision (benefit) for credit losses 1,715 1,725 (311) 3,129 Provision (benefit) for credit losses 226 46 202 474 Income (loss) before income tax expense (benefit) 1,489 1,679 (513) 2,655 Income tax expense (benefit) 381 375 (174) 582 Net income (loss) $1,108 $1,304 ($339) $2,073 Total average assets $86,147 $74,919 $53,995 $215,061 As of and for the Year Ended December 31, 2021 (in millions) Consumer Banking Commercial Banking Other Consolidated Net interest income $3,562 $1,706 ($756) $4,512 Noninterest income 1,223 809 103 2,135 Total revenue 4,785 2,515 (653) 6,647 Noninterest expense 2,987 973 121 4,081 Profit (loss) before provision (benefit) for credit losses 1,798 1,542 (774) 2,566 Provision (benefit) for credit losses 185 156 (752) (411) Income (loss) before income tax expense (benefit) 1,613 1,386 (22) 2,977 Income tax expense (benefit) 410 300 (52) 658 Net income (loss) $1,203 $1,086 $30 $2,319 Total average assets $75,509 $57,617 $51,980 $185,106 As of and for the Year Ended December 31, 2020 (in millions) Consumer Banking Commercial Banking Other Consolidated Net interest income $3,311 $1,643 ($368) $4,586 Noninterest income 1,655 595 69 2,319 Total revenue 4,966 2,238 (299) 6,905 Noninterest expense 2,964 860 167 3,991 Profit (loss) before provision (benefit) for credit losses 2,002 1,378 (466) 2,914 Provision (benefit) for credit losses 288 398 930 1,616 Income (loss) before income tax expense (benefit) 1,714 980 (1,396) 1,298 Income tax expense (benefit) 429 206 (394) 241 Net income (loss) $1,285 $774 ($1,002) $1,057 Total average assets $72,022 $60,839 $43,581 $176,442

PARENT COMPANY FINANCIALS

PARENT COMPANY FINANCIALS	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY FINANCIALS	NOTE 27 - PARENT COMPANY FINANCIALS Condensed Statements of Operations Year Ended December 31, (in millions) 2022 2021 2020 OPERATING INCOME: Income from bank subsidiaries, excluding equity in undistributed income: Dividends $450 $1,120 $900 Interest 39 35 42 Management and service fees 69 64 54 Income from nonbank subsidiaries, excluding equity in undistributed income: Dividends 43 57 40 Interest 3 2 4 All other operating income 1 1 1 Total operating income 605 1,279 1,041 OPERATING EXPENSE: Salaries and employee benefits 43 36 27 Interest expense 125 119 120 All other expenses 28 28 30 Total operating expense 196 183 177 Income (loss) before taxes and undistributed income 409 1,096 864 Income tax expense (benefit) (13) (16) (16) Income before undistributed income of subsidiaries 422 1,112 880 Equity in undistributed income (losses) of subsidiaries: Bank 1,724 1,188 170 Nonbank (73) 19 7 Net income $2,073 $2,319 $1,057 Total other comprehensive income (loss), net of income taxes (1) (3,895) (605) 351 Total comprehensive income (loss) ($1,822) $1,714 $1,408 (1) See Consolidated Statements of Comprehensive Income for comprehensive income (loss) detail. In accordance with federal and state banking regulations, dividends paid by CBNA to the Company are subject to certain limitations. See Note 25 for more information. Additionally, see Note 17 for more information regarding the Company’s common and preferred stock dividends. Condensed Balance Sheets (in millions) December 31, 2022 December 31, 2021 ASSETS: Cash and due from banks $1,821 $2,266 Loans and advances to: Bank subsidiary 1,153 1,148 Nonbank subsidiaries 135 150 Investments in subsidiaries: Bank subsidiary 23,674 22,742 Nonbank subsidiaries 302 325 Other assets 182 140 Total assets $27,267 $26,771 LIABILITIES: Long-term borrowed funds $3,336 $3,099 Other liabilities 241 252 Total liabilities 3,577 3,351 Total stockholders’ equity 23,690 23,420 Total liabilities and stockholders’ equity $27,267 $26,771 Condensed Cash Flow Statements Year Ended December 31, (in millions) 2022 2021 2020 OPERATING ACTIVITIES Net income $2,073 $2,319 $1,057 Adjustments to reconcile net income to net change in cash due to operating activities: Deferred income taxes (11) — 17 Equity in undistributed income of subsidiaries (1,651) (1,207) (177) Net increase (decrease) in other liabilities (7) 34 43 Net (increase) decrease in other assets (44) 12 (41) Other operating, net 92 67 48 Net change due to operating activities 452 1,225 947 INVESTING ACTIVITIES Investments in and advances to subsidiaries (156) (196) (190) Repayment of investments in and advances to subsidiaries 121 125 205 Acquisitions, net of cash acquired (23) (165) — Other investing, net (1) (1) (1) Net change due to investing activities (59) (237) 14 FINANCING ACTIVITIES Proceeds from issuance of long-term borrowed funds 414 — 1,053 Repayments of long-term borrowed funds (182) (350) (12) Treasury stock purchased (153) (295) (270) Net proceeds from issuance of preferred stock — 296 395 Redemption of preferred stock — (250) — Dividends declared and paid to common stockholders (779) (670) (672) Dividends declared and paid to preferred stockholders (113) (113) (98) Other financing, net (25) (20) (95) Net change due to financing activities (838) (1,402) 301 Net change in cash and due from banks (445) (414) 1,262 Cash and due from banks at beginning of year 2,266 2,680 1,418 Cash and due from banks at end of year $1,821 $2,266 $2,680

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 28 - SUBSEQUENT EVENTS On February 17, 2023, the Company announced that its Board of Directors increased the capacity under its common share repurchase program by an additional $1.15 billion. This is incremental to the $850 million of capacity remaining as of December 31, 2022 under the prior June 2022 authorization.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The Consolidated Financial Statements include the accounts of Citizens and subsidiaries in which Citizens has a controlling financial interest. All intercompany transactions and balances have been eliminated. The Company has evaluated its unconsolidated entities and does not believe that any entity in which it has an interest, but does not currently consolidate, meets the requirements to be consolidated as a variable interest entity.The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the ACL.
Cash and Cash Equivalents	For the purpose of reporting cash flows, cash and cash equivalents have original maturities of three months or less and include cash and due from banks and interest-bearing cash and due from banks. The Company had no material restrictions on the use or availability of its cash as of December 31, 2022 or 2021.
Securities	Investments include debt and equity securities and other investment securities. Citizens classifies debt securities as AFS, HTM, or trading based on management’s intent to hold to maturity at the time of purchase. Management reserves the right to change the initial classification of debt and equity securities purchased based on its intent to hold to maturity or as permitted by periodic changes in accounting guidance. Equity securities are recorded at fair value or at cost if there is not a readily determinable fair value. Debt securities that will be held for indefinite periods of time and may be sold in response to changes in interest rates, changes in prepayment risk, or other factors considered in managing the Company’s asset/liability strategy are classified as AFS and reported at fair value, with unrealized gains and losses reported in AOCI, net of taxes, as a separate component of stockholders’ equity. Gains and losses on the sales of securities are recognized in noninterest income and are computed using the specific identification method. Debt securities for which the Company has the ability and intent to hold to maturity are classified as HTM and reported at amortized cost. Transfers of debt securities to the HTM classification are recognized at fair value at the date of transfer. For debt securities classified as AFS or HTM, interest income is recorded on the accrual basis including the amortization of premiums and the accretion of discounts. Premiums and discounts on debt securities are amortized or accreted using the effective interest method over the estimated lives of the individual securities. Citizens uses actual prepayment experience and estimates of future prepayments to determine the constant effective yield necessary to apply the effective interest method of income recognition. Estimates of future prepayments are based on the underlying collateral characteristics of each security and are derived from market sources. Judgment is involved in making determinations about prepayment expectations and in changing those expectations in response to changes in interest rates and macroeconomic conditions. The amortization of premiums and the accretion of discounts associated with mortgage-backed securities may be significantly impacted by changes in prepayment assumptions. Securities classified as trading are bought and held principally for selling them in the near-term and carried at fair value, with changes in fair value recognized in earnings. When applicable, realized and unrealized gains and losses on such assets are reported in noninterest income in the Consolidated Statements of Operations. Equity securities are primarily composed of FHLB and FRB stock (which are carried at cost) and money market mutual fund investments held by the Company’s broker-dealers (which are carried at fair value, with changes in fair value recognized in noninterest income) and are recorded in other assets on the Consolidated Balance Sheets. Equity securities that are carried at cost are reviewed at least annually for impairment, with valuation adjustments recognized in noninterest income. Impairment Upon purchase of HTM investment securities and at each subsequent measurement date, Citizens is required to evaluate the securities for risk of loss over their life and, if necessary, establish an associated reserve. Recognition of a reserve for expected credit losses is not required if the amount the Company expects to realize is zero (commonly referred to as “zero expected credit losses”). The Company evaluated its existing HTM portfolio as of December 31, 2022 and concluded that in excess of 94% of HTM securities met the zero expected credit loss criteria and, therefore, no ACL was recognized. Lifetime expected credit losses on the remainder of the HTM portfolio were determined to be insignificant based on the modeling of the Company’s credit loss position in the securities. The Company monitors the credit exposure through the use of credit quality indicators. For these securities, the Company uses external credit ratings or an internally derived credit rating when an external rating is not available. All securities were determined to be investment grade at December 31, 2022. Citizens reviews its AFS debt securities for impairment at the individual security level on a quarterly basis, or more frequently if a potential loss triggering event occurs. The initial indicator of impairment for debt securities classified as AFS is a decline in fair value below its amortized cost basis. For any security that has declined in fair value below the amortized cost basis, the Company recognizes an impairment loss in current period earnings if management has the intent to sell the security or if it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. Estimating the recovery of the amortized cost basis of a debt security is based upon an assessment of the cash flows expected to be collected. If the present value of cash flows expected to be collected, discounted at the security’s original effective yield, is less than the amortized cost basis, impairment equal to the shortfall in cash flows has occurred. Citizens evaluates whether any portion of the impairment is attributable to credit-related factors or various other market factors affecting the fair value of the security (e.g., interest rates, spread levels, liquidity in the sector, etc.), and the public credit rating of the security. If credit-related factors exist, credit-related impairment has occurred regardless of the Company’s intent to hold the security until it recovers. The credit-related portion of impairment is recognized in current period earnings as provision expense through the establishment of an allowance for AFS securities, to the extent the allowance does not reduce the value of the AFS security below its current fair value. The remaining non-credit related portion of impairment is recognized in OCI. Improvement in credit losses in subsequent periods results in a reversal of the allowance for AFS securities and a corresponding decrease to provision expense, to the extent the allowance does not become negative. Accrued interest receivable on AFS debt securities is excluded from the balances used to calculate the allowance for AFS securities. All accrued and uncollected interest is immediately reversed against interest income when it is deemed uncollectible.
Loans and leases	Loans held for investment are reported at the amount of their outstanding principal, net of charge-offs, unearned income, deferred loan origination fees and costs, and unamortized premiums or discounts on purchased loans. Deferred loan origination fees and costs and purchase premiums and discounts are amortized as an adjustment of yield over the life of the loan, using the effective interest method. Unamortized amounts remaining upon prepayment or sale are recorded as interest income or gain (loss) on sale, respectively. Credit card receivables include billed and uncollected interest and fees. Interest income on loans is determined using the effective interest method. This method calculates periodic interest income at a constant effective yield on the net investment in the loan, to provide a constant rate of return over the term. Loans accounted for using the fair value option are measured at fair value with corresponding changes recognized in noninterest income. Loan commitment fees for loans that are likely to be drawn down, and other credit related fees, are deferred (together with any incremental costs) and recognized as an adjustment to the effective interest rate over the loan term. When it is unlikely that a loan will be drawn down, the loan commitment fees are recognized over the commitment period on a straight-line basis and are reported within letter of credit and loan fees in the Consolidated Statements of Operations. Loans and leases are disclosed in portfolio segments and classes. The Company’s loan and lease portfolio segments are commercial and retail. The classes of loans and leases are: commercial and industrial, commercial real estate, leases, residential mortgages, home equity, automobile, education and other retail. Citizens is engaged in the leasing of equipment for commercial use, primarily focused on middle market and mid-corporate clients for large capital equipment acquisitions including railcars, trucks and trailers, and other equipment. The Company determines if an arrangement is a lease and the related lease classification at inception. Lease terms predominantly range from three A lessee is evaluated from a credit perspective using the same underwriting standards and procedures as for a loan borrower. A lessee is expected to make rental payments based on its cash flows and the viability of its operations. Leases are usually not evaluated as collateral-based transactions, and therefore the lessee’s overall financial strength is the most important credit evaluation factor.
Allowance for Credit Losses and Nonaccrual and Past Due Assets	Allowance for Credit Losses Management’s estimate of expected credit losses in the Company’s loan and lease portfolios is recorded in the ALLL and the allowance for unfunded lending commitments (collectively the ACL). The ACL is maintained at a level the Company believes to be appropriate to absorb expected lifetime credit losses over the contractual life of the loan and lease portfolios and on the unfunded lending commitments. The determination of the ACL is based on periodic evaluation of the loan and lease portfolios and unfunded lending commitments that are not unconditionally cancellable considering a number of relevant underlying factors, including key assumptions and evaluation of quantitative and qualitative information. Upon adoption of CECL effective January 1, 2020, the Company’s ACL reserve methodology changed to estimate expected credit losses over the contractual life of loans and leases, resulting in a cumulative-effect reduction of $337 million, net of taxes of $114 million, to retained earnings and a corresponding increase to the ACL of $451 million. Key assumptions used in the ACL measurement process include the use of a two-year reasonable and supportable economic forecast period followed by a one-year reversion period to historical credit loss information. The evaluation of quantitative and qualitative information is performed through assessments of groups of assets that share similar risk characteristics and certain individual loans and leases that do not share similar risk characteristics with the collective group. Loans are grouped generally by product type (e.g., commercial and industrial, commercial real estate, residential mortgage), and significant loan portfolios are assessed for credit losses using econometric models. The quantitative evaluation of the adequacy of the ACL utilizes a single economic forecast as its foundation, and is primarily based on econometric models that use known or estimated data as of the balance sheet date and forecasted data over the reasonable and supportable period. Known and estimated data include current PD, LGD and EAD (for commercial), timing and amount of expected draws (for unfunded lending commitments), FICO, LTV, term and time on books (for retail loans), mix and level of loan balances, delinquency levels, assigned risk ratings, previous loss experience, current business conditions, amounts and timing of expected future cash flows, and factors particular to a specific commercial credit such as competition, business and management performance. Forward-looking economic assumptions include real gross domestic product, unemployment rate, interest rate curve, and changes in collateral values. This data is aggregated to estimate expected credit losses over the contractual life of the loans and leases, adjusted for expected prepayments. In highly volatile economic environments historical information, such as commercial customer financial statements or consumer credit ratings, may not be as important to estimating future expected losses as forecasted inputs to the models. The ACL may also be affected materially by a variety of qualitative factors that the Company considers to reflect current judgment of various events and risks that are not measured in the statistical procedures including uncertainty related to the economic forecasts used in the modeled credit loss estimates, loan growth, back testing results, credit underwriting policy exceptions, regulatory and audit findings, and peer comparisons. The qualitative allowance is further affected by sensitivity analysis for certain industry sectors or loan classes, including CRE office. The measurement process results in specific or pooled allowances for loans, leases and unfunded lending commitments, and qualitative allowances that are judgmentally determined and applied across the portfolio. There are certain loan portfolios that may not need an econometric model to enable the Company to calculate management’s best estimate of the expected credit losses. Less data intensive, non-modeled approaches to estimating losses are considered more efficient and practical for portfolios that have lower levels of outstanding balances (e.g., runoff or closed portfolios, new products or products that are not significant to the Company’s overall credit risk exposure). Loans and leases that do not share similar risk characteristics are individually assessed for expected credit losses. Nonaccrual commercial and industrial, and commercial real estate loans with an outstanding balance of $5 million or greater and all commercial and industrial, and commercial real estate TDRs (regardless of size) are assessed on an individual loan level basis. Generally, the measurement of ACL on individual loans and leases is the present value of its future cash flows or the fair value of its underlying collateral, if the loan or lease is collateral dependent. A loan is considered to be collateral dependent when repayment of the loan is expected to be provided solely by the underlying collateral, rather than by cash flows from the borrower’s operations, income or other resources. Loans that are deemed to be collateral dependent are written down to the fair value, less costs to sell, as of the evaluation date and are reassessed each subsequent period to determine if a change to the ACL is required. Subsequent evaluations may result in an increase or decrease to the ACL, based on a corresponding change in the fair value of the collateral during the period. Any subsequent decrease to the ACL (because of an increase to the collateral-dependent loan’s fair value) is limited to the total amount previously written off for that loan. For retail TDRs that are not collateral dependent, the ACL is developed using the present value of expected future cash flows compared to the amortized cost basis in the loans. Expected re-default factors are considered in this analysis. Retail TDRs that are deemed collateral dependent are written down to fair market value less cost to sell. Expected recoveries are considered in management’s estimate of the ACL and may result in a negative adjustment (i.e., reduction) to the ACL balance. A loan is collateral dependent if repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty as of the evaluation date. Generally, repayment would be expected to be provided substantially by the sale or continued operation of the underlying collateral if cash flows to repay the loan from all other available sources (including guarantors) are expected to be no more than nominal. If repayment is dependent only on the operation of the collateral, the fair value of the collateral would not be adjusted for estimated costs to sell. If a loan is considered collateral dependent, the ACL is calculated as the difference between the fair value of collateral (adjusted for the costs to sell if the sale of the collateral is expected) and the amortized cost basis as of the evaluation date. It is possible to have a negative ACL for a collateral dependent loan if the fair value of the collateral increases in a subsequent reporting period. The negative ACL cannot exceed the total amount previously charged off. Accrued interest receivable on loans and leases is excluded from asset balances used to calculate the ACL. All accrued and uncollected interest is immediately reversed against interest income when a loan or lease is placed on nonaccrual status. Uncollectible interest is written off timely in accordance with regulatory guidelines. Generally, loans and leases are placed on nonaccrual status when contractually past due 90 days or more, or earlier if management believes that the probability of collection is insufficient to warrant further accrual. Residential mortgages are placed on nonaccrual status when contractually past due 120 days or more, or sooner if deemed collateral dependent, unless guaranteed by the FHA, VA or USDA. Residential mortgages that received extended forbearance and were subsequently modified as a result of COVID-19 will be placed on nonaccrual sooner than those that were not on extended forbearance, and will return to accrual status only following a sustained period of repayment performance. The Company estimates expected credit losses associated with off-balance sheet financial instruments such as standby letters of credit, financial guarantees and unfunded loan commitments that are not unconditionally cancellable. Off-balance sheet financial instruments are subject to individual reviews and are analyzed and segregated by risk according to the Company’s internal risk rating scale. These risk classifications, in conjunction with historical loss experience, current and future economic conditions, timing and amount of expected draws, and performance trends within specific portfolio segments, result in the estimate of the allowance for unfunded lending commitments. The Company does not recognize a reserve for future draws from credit lines that are unconditionally cancellable (e.g., credit cards). The ALLL and the allowance for unfunded lending commitments are reported on the Consolidated Balance Sheets in the allowance for loan and lease losses and in other liabilities, respectively. Provision for credit losses related to the loan and lease portfolios and the unfunded lending commitments are reported in the Consolidated Statements of Operations as provision for credit losses. Nonaccrual and Past Due Assets Nonaccrual loans and leases are those on which accrual of interest has been suspended. Loans (other than certain retail loans insured by U.S. government agencies) are placed on nonaccrual status when full payment of principal and interest is in doubt, unless the loan is both well secured and in the process of collection. When the Company places a loan on nonaccrual status, the accrued unpaid interest receivable is reversed against interest income and amortization of any net deferred fees is suspended. Interest collections on nonaccrual loans and leases for which the ultimate collectability of principal is uncertain are generally applied to first reduce the carrying value of the asset. Otherwise, interest income may be recognized to the extent of the cash received. A loan or lease may be returned to accrual status if: • principal and interest payments have been brought current, and the Company expects repayment of the remaining contractual principal and interest; • the loan or lease has otherwise become well-secured and in the process of collection; or • the borrower has been making regularly scheduled payments in full for the prior six months and the Company is reasonably assured that the loan or lease will be brought fully current within a reasonable period. Commercial and industrial loans, commercial real estate loans, and leases are generally placed on nonaccrual status when contractually past due 90 days or more, or earlier if management believes that the probability of collection is insufficient to warrant further accrual. Some of these loans and leases may remain on accrual status when contractually past due 90 days or more if management considers the loan collectible. Residential mortgages are generally placed on nonaccrual status when past due 120 days, or sooner if determined to be collateral dependent, unless repayment of the loan is fully or partially guaranteed by the FHA, VA or USDA. Credit card balances are placed on nonaccrual status when past due 90 days or more and are restored to accruing status if they subsequently become less than 90 days past due. All other retail loans are generally placed on nonaccrual status when past due 90 days or more, or earlier if management believes that the probability of collection is insufficient to warrant further accrual. Loans less than 90 days past due may be placed on nonaccrual status upon the death of the borrower, fraud or bankruptcy.
Loan Charge-Offs	Loan Charge-Offs Commercial loans are charged off when available information indicates that a loan or portion thereof is determined to be uncollectible. The determination of whether to recognize a charge-off involves many factors, including the prioritization of the Company’s claim in bankruptcy, expectations of the workout/restructuring of the loan and valuation of the borrower’s equity or the loan collateral. Retail loans are generally fully charged-off or written down to the net realizable value of the underlying collateral, with an offset to the ALLL, upon reaching specified stages of delinquency in accordance with standards established by the FFIEC. Residential real estate loans, credit card loans and unsecured open-end loans are generally charged off in the month when the account becomes 180 days past due. Auto loans, education loans and unsecured closed end loans are generally charged off in the month when the account becomes 120 days past due. Certain retail loans will be charged off or charged down to their net realizable value earlier than the FFIEC charge-off standards in the following circumstances: • Loans modified in a TDR that are determined to be collateral-dependent. • Residential real estate loans that received extended forbearance and were subsequently modified as a result of COVID-19 • Loans to borrowers who have experienced an event (e.g., bankruptcy) that suggests a loss is either known or highly certain. ◦ Residential real estate and auto loans are charged down to fair value less costs to sell within 60 days of receiving notification of the bankruptcy filing, unless repayment is likely to occur, or when the loan subsequently becomes 60 days past due. ◦ Credit card loans are fully charged off within 60 days of receiving notification of the bankruptcy filing or other event. ◦ Education loans are generally charged off when the loan becomes 60 days past due after receiving notification of a bankruptcy. • Auto loans are written down to fair value less costs to sell upon repossession of the collateral.
Credit Quality Indicators	Credit Quality Indicators The Company presents loan and lease portfolio segments and classes by credit quality indicator and vintage year. Citizens defines the vintage date for the purpose of this disclosure as the date of the most recent credit decision. In general, renewals are categorized as new credit decisions and reflect the renewal date as the vintage date. Loans modified in a TDR are considered a continuation of the original loan and vintage date corresponds with the most recent credit decision. For commercial loans and leases, Citizens utilizes regulatory classification ratings to monitor credit quality. The assignment of regulatory classification ratings occurs at loan origination and are periodically re-evaluated by Citizens utilizing a risk-based approach, including any time management becomes aware of information affecting the borrowers' ability to fulfill their obligations. The review process considers both quantitative and qualitative factors. Loans with a “pass” rating are those that the Company believes will fully repay in accordance with the contractual loan terms. Commercial loans and leases identified as “criticized” have some weakness or potential weakness that indicate an increased probability of future loss. Citizens groups “criticized” loans into three categories, “special mention,” “substandard,” and “doubtful.” Special mention loans have potential weaknesses that, if left uncorrected, may result in deterioration of the Company’s credit position at some future date. Substandard loans are inadequately protected loans; these loans have well-defined weaknesses that could hinder normal repayment or collection of the debt. Doubtful loans have the same weaknesses as substandard, with the added characteristic that the possibility of loss is high and collection of the full amount of the loan is improbable. Additional credit quality information is discussed below for each loan class. For commercial and industrial loans, Citizens monitors the performance of the borrower in a disciplined and regular manner based upon the level of credit risk inherent in the loan. To evaluate the level of credit risk, management assigns an internal risk rating reflecting the borrower’s PD and LGD. This two-dimensional credit risk rating methodology provides granularity in the risk monitoring process. These ratings are generally reviewed at least annually. The combination of the PD and LGD ratings assigned to commercial and industrial loans, capturing both the combination of expectations of default and loss severity in the event of default, reflects credit quality characteristics as of the reporting date and are used as inputs into the loss forecasting process. Based upon the amount of the lending arrangement and risk rating assessment, management periodically reviews each loan, prioritizing those loans which are perceived to be of higher risk, based upon PDs and LGDs, or loans for which credit quality is weakening (e.g., payment delinquency). Citizens proactively manages loans by using various procedures that are customized to the risk of a given loan, including ongoing outreach to the borrower, assessment of the borrower’s financial conditions and appraisal of the collateral. Credit risk associated with commercial real estate projects and commercial mortgages are managed similar to commercial and industrial loans by evaluating PD and LGD. Risks associated with commercial real estate activities tend to be correlated to the loan structure and collateral location, project progress and business environment. As a result, these attributes are also monitored and utilized in assessing credit risk. As with the commercial and industrial loan class, periodic reviews are also performed to assess market/geographic risk and business unit/industry risk, which may result in increased scrutiny on loans that are perceived to be of higher risk, had adverse changes in risk ratings and/or areas that concern management. These reviews are designed to assess risk and facilitate actions to mitigate such risks. Citizens manages credit risk associated with financing leases similar to commercial and industrial loans by analyzing PD and LGD. Reviews are generally performed annually based upon the dollar amount of the lease and the level of credit risk, and may be more frequent if circumstances warrant. The review process includes analysis of the following factors: equipment value/residual value, exposure levels, jurisdiction risk, industry risk, guarantor requirements, and regulatory compliance as applicable. Commercial loans with renewal terms in the original contract are recognized as current year originations upon renewal unless the loan automatically renewed with no new credit decision. Citizens generally reserves the right to not renew the loan or lease until current underwriting has been completed and approved.
Troubled Debt Restructuring	Troubled Debt Restructurings In situations where, for economic or legal reasons related to the borrower’s financial difficulties, the Company grants a concession to the borrower that it would not otherwise consider, the related loan is classified as a TDR. TDRs typically result from the Company’s loss mitigation efforts and are undertaken in order to improve the likelihood of recovery and continuity of the relationship with the borrower. The Company’s loan modifications are handled on a case-by-case basis and are negotiated to achieve mutually agreeable terms that maximize loan collectability and meet the borrower’s financial needs. Concessions granted in TDRs for all classes of loans may include lowering the interest rate, forgiving a portion of principal, extending the loan term, lowering scheduled payments for a specified period of time, waiving or delaying a scheduled payment of principal or interest for other than an insignificant time period, or capitalizing past due amounts. A rate increase can be a concession if the increased rate is lower than a market rate for debt with risk similar to that of the restructured loan. TDRs for commercial loans may also involve creating a multiple note structure, accepting non-cash assets, accepting an equity interest, or receiving a performance-based fee. In some cases, a TDR may involve multiple concessions. The financial effects of TDRs for all loan classes may include lower income (either due to a lower interest rate or a delay in the timing of cash flows), larger loan loss provisions, and accelerated charge-offs if the modification renders the loan collateral-dependent. In some cases, interest income throughout the term of the loan may increase if, for example, the loan is extended or the interest rate is increased as a result of the restructuring. Retail and commercial loans whose contractual terms have been modified in a TDR and are current at the time of restructuring may remain on accrual status if there is demonstrated performance prior to the restructuring and payment in full under the restructured terms is expected. Retail loans that were discharged in bankruptcy and not reaffirmed by the borrower are deemed to be collateral-dependent TDRs and are generally charged off to the fair value of the collateral, less cost to sell, and less amounts recoverable under a government guarantee (if any). Cash receipts on nonaccrual impaired loans, including nonaccrual loans involved in TDRs, are generally applied to reduce the unpaid principal balance. Certain TDRs that are current in payment status are classified as nonaccrual in accordance with regulatory guidance. Income on these loans may be recognized on a cash basis if management believes that the remaining book value of the loan is realizable. Nonaccrual TDRs that meet the guidelines above for accrual status can be returned to accruing if supported by a well-documented evaluation of the borrowers’ financial condition, and if they have been current for at least six months. Because TDRs are impaired loans, Citizens measures impairment by comparing the present value of expected future cash flows, or when appropriate, the fair value of collateral less costs to sell, to the loan’s amortized cost basis. Any excess of amortized cost basis over the present value of expected future cash flows or collateral value is included in the ALLL. Any portion of the loan’s amortized cost basis the Company does not expect to collect as a result of the modification is charged off at the time of modification. For retail TDR accounts where the expected value of cash flows is utilized, any recorded investment in excess of the present value of expected cash flows is recognized by increasing the ALLL. For retail TDR accounts assessed based on the fair value of collateral, any portion of the loan’s recorded investment in excess of the collateral value less costs to sell is charged off at the time of modification or at the time of subsequent and regularly recurring valuations. In 2020, Citizens implemented various retail and commercial loan modification programs to provide borrowers relief from the economic impacts of COVID-19. The CARES Act and bank regulatory agencies provided guidance stating certain loan modifications to borrowers experiencing financial distress as a result of COVID-19 may not be accounted for as TDRs under U.S. GAAP. In accordance with the CARES Act, Citizens elected to not apply TDR classification to any COVID-19-related loan modification performed after March 1, 2020 through December 31, 2021 for borrowers who were current as of December 31, 2019 or the date of their loan modification. In addition, for loans modified in response to the COVID-19 pandemic and associated lockdowns that were not eligible for relief from TDR classification under the CARES Act, the Company elected to apply the guidance issued by the bank regulatory agencies. Under this guidance, loans with up to six months of deferred principal and interest to borrowers who were current as of March 1, 2020 or the date of their loan modification are not classified as TDRs.
Premises and Equipment	Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the life of the lease (including renewal options if exercise of those options is reasonably assured) or their estimated useful life, whichever is shorter. Additions to premises and equipment are recorded at cost. The cost of major additions, improvements and betterments is capitalized. Normal repairs and maintenance and other costs that do not improve the property, extend the useful life or otherwise do not meet capitalization criteria are charged to expense as incurred. Citizens evaluates premises and equipment for impairment when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable.
Software	Costs related to computer software developed or obtained for internal use are capitalized if the projects improve functionality and provide long-term future operational benefits. Capitalized costs are amortized using the straight-line method over the asset’s expected useful life, based upon the basic pattern of consumption and economic benefits provided by the asset. Citizens begins to amortize the software when the asset (or identifiable component of the asset) is substantially complete and ready for its intended use. All other costs incurred in connection with an internal-use software project are expensed as incurred. Capitalized software is included in other assets on the Consolidated Balance Sheets.
Mortgage Banking	The Company sells residential mortgages into the secondary market. The Company retains no beneficial interest in these sales, but may retain the servicing rights for the loans sold. The Company may exercise its option to repurchase eligible government guaranteed residential mortgages or may be obligated to subsequently repurchase a loan if the purchaser discovers a representation or warranty violation such as noncompliance with eligibility or servicing requirements, or customer fraud that should have been identified in a loan file review. Mortgage loans held for sale are accounted for at fair value on an individual loan basis. Changes in the fair value and realized gains and losses on the sales of mortgage loans, are reported in mortgage banking fees.
Leases	The Company determines if an arrangement is a lease at inception and records a right-of-use asset and a corresponding lease liability. A right-of-use asset represents the value of the Company’s contractual right to use an underlying leased asset and a lease liability represents the Company’s contractual obligation to make payments on the same underlying leased asset. Operating and finance lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of the lease payments over the non-cancelable lease term. As most of the Company’s leases do not specify an implicit rate, the Company uses an incremental borrowing rate based on information available at the lease commencement date to determine the present value of the lease payments. The Company evaluates right-of-use assets for impairment when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In the normal course of business, the Company leases both equipment and real estate, including office and branch space. Lease terms predominantly range from one year to ten years and may include options to extend the lease, terminate the lease, or purchase the underlying asset at the end of the lease. Certain lease agreements include rental payments based on an index or are adjusted periodically for inflation. The Company has lease agreements that contain lease and non-lease components and for certain real estate leases, these components are accounted for as a single lease component. Leases with an initial term of 12 months or less are not recorded on the Company’s Consolidated Balance Sheets and are recognized in occupancy expense in the Company’s Consolidated Statements of Operations on a straight-line basis over the remaining lease term. The Company may also enter into subleases with third parties for certain leased real estate properties that are no longer occupied.
Goodwill	Goodwill is the purchase premium associated with the acquisition of a business and is assigned to the Company’s reporting units at the acquisition date. A reporting unit is a business operating segment or a component of a business operating segment. Citizens has identified and assigned goodwill to two reporting units - Consumer Banking and Commercial Banking - based upon reviews of the structure of the Company’s executive team and supporting functions, resource allocations and financial reporting processes. Once goodwill has been assigned to reporting units, it no longer retains its association with a particular acquisition, and all of the activities within a reporting unit, whether acquired or organically grown, are available to support the value of the goodwill. Goodwill is not amortized, but is subject to an annual impairment test. Citizens reviews goodwill for impairment annually as of October 31 st and in interim periods when events or changes indicate the carrying value of one or more reporting units may not be recoverable. The Company has the option of performing a qualitative assessment of goodwill to determine whether it is more likely than not that the fair value of each reporting unit is less than the carrying value. If it is more likely than not that the fair value exceeds the carrying value, then no further testing is necessary; otherwise, Citizens must perform a quantitative assessment of goodwill. Citizens may elect to bypass the qualitative assessment and perform a quantitative assessment. The quantitative assessment, used to identify potential impairment, involves comparing each reporting unit’s fair value to its carrying value, including goodwill. If the fair value of a reporting unit exceeds its carrying value inclusive of goodwill, applicable goodwill is deemed to be not impaired. If the carrying value of the reporting unit inclusive of goodwill exceeds fair value, an impairment charge is recorded for the excess. The impairment loss recognized cannot exceed the amount of goodwill assigned to the reporting unit, and the loss establishes a new basis in the goodwill. Subsequent reversal of goodwill impairment losses is not permitted.
Other Intangibles	Other Intangibles Other intangible assets are recognized separately from goodwill if the asset arises as a result of contractual rights or if the asset is capable of being separated and sold, transferred or exchanged. These assets are amortized on a straight-line basis with the exception of core deposits, which are amortized using an accelerated methodology, and are subject to an annual impairment evaluation. Amortization expense is recorded in other operating expense in the Consolidated Statements of Operations.
Variable Interest Entities	Citizens makes equity investments in various entities that are considered VIEs, as defined by GAAP. A VIE typically does not have sufficient equity at risk to finance its activities without additional subordinated financial support from other parties. The Company’s variable interest arises from contractual, ownership or other monetary interests in the entity, which change with fluctuations in the fair value of the entity's net assets. Citizens consolidates a VIE if it is the primary beneficiary of the entity. Citizens is the primary beneficiary of a VIE if its variable interest provides it with the power to direct the activities that most significantly impact the VIE and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to the VIE. To determine whether or not a variable interest held could potentially be significant to the VIE, the company considers both qualitative and quantitative factors regarding the nature, size and form of its involvement with the VIE. Citizens assesses whether or not it is the primary beneficiary of a VIE on an ongoing basis.Citizens applies the proportional amortization method to account for its LIHTC investments. Under the proportional amortization method, the Company applies a practical expedient and amortizes the initial cost of the investment in proportion to the tax credits received in the current period as compared to the total tax credits expected to be received over the life of the investment. The amortization and tax benefits are included as a component of income tax expense. The tax credits received related to these transactions are reported as a reduction of income tax expense (or an increase to income tax benefit). Renewable Energy Entities The Company’s investments in certain renewable energy entities provide benefits from a return generated by government incentives plus other tax attributes that are associated with tax ownership (e.g., tax depreciation). As a tax equity investor, Citizens does not have the power to direct the activities which most significantly affect the performance of these entities and, therefore, is not the primary beneficiary of these entities. Accordingly, Citizens does not consolidate these VIEs.
Interest-Bearing Deposits in Banks	Interest-bearing deposits in banks are carried at cost and include deposits that mature within one year.
Derivatives	In the normal course of business, Citizens enters into a variety of derivative transactions to meet the financing and hedging needs of its customers and to reduce its own exposure to fluctuations in interest rates and foreign currency exchange rates. These transactions include interest rate swap contracts, interest rate options, foreign exchange contracts, residential loan commitment rate locks, interest rate future contracts, swaptions, certain commodities, forward commitments to sell TBAs, forward sale contracts and purchase options. The Company does not use derivatives for speculative purposes. The Company’s derivative instruments are recognized on the Consolidated Balance Sheets in derivative assets and derivative liabilities at fair value. Certain derivatives are cleared through central clearing houses. Cleared derivatives represent contracts executed bilaterally with counterparties in the OTC market that are novated to central clearing houses who then becomes our counterparty. OTC-cleared derivative instruments are typically settled in cash each day based on the prior day value. Information regarding the valuation methodology and inputs used to estimate the fair value of the Company’s derivative instruments is described in Note 20. Derivative assets and liabilities are netted by counterparty on the Consolidated Balance Sheets if a “right of setoff” has been established in a master netting agreement between the Company and the counterparty. This netted derivative asset or liability position is also netted against the fair value of any cash collateral that has been pledged or received in accordance with a master netting agreement. The Company’s derivative transactions are internally divided into three sub-groups: institutional, customer and residential loan. Certain derivative transactions within these sub-groups are designated as fair value or cash flow hedges, as described below: Derivatives Designated As Hedging Instruments The Company’s institutional derivatives qualify for hedge accounting treatment. The net interest accruals on interest rate swaps designated in a fair value or cash flow hedge relationship are treated as an adjustment to interest income or interest expense of the item being hedged. The Company formally documents all hedging relationships at inception, as well as risk management objectives and strategies for undertaking various accounting hedges. Additionally, the Company monitors the effectiveness of its hedge relationships during the duration of the hedge period. The methods utilized to assess hedge effectiveness vary based on the hedge relationship and the Company monitors each relationship to ensure that management’s initial intent continues to be satisfied. The Company discontinues hedge accounting treatment when it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge and subsequently reflects changes in the fair value of the derivative in earnings after termination of the hedge relationship. Fair Value Hedges In a fair value hedge, changes in the fair value of both the derivative instrument and the hedged asset or liability attributable to the risk being hedged are recognized in the same income statement line item in the Consolidated Statements of Operations when the changes in fair value occur. Economic Hedges The Company’s economic hedges include those related to offsetting customer derivatives, residential mortgage loan derivatives (including interest rate lock commitments and forward sales commitments) and derivatives to hedge its residential MSRs. Customer derivatives include interest rate, foreign exchange and commodity derivative contracts designed to meet the hedging and financing needs of the Company’s customers, and are economically hedged by the Company to offset its market exposure. Interest rate lock commitments on residential mortgage loans that will be held for sale are considered derivative instruments, and are economically hedged by entering into forward sale commitments to manage changes in fair value due to interest rate risk. Residential MSR derivatives are entered to hedge the risk of changes in the fair value of the Company’s MSRs.
Employee Benefits	Costs under the Company’s Pension Plans are actuarially computed and include current service costs and amortization of prior service costs over the participants’ average future working lifetime. The actuarial cost method used in determining the net periodic pension cost is the projected unit method. During 2021, lump sum payments made under the Citizens Qualified Plan triggered settlement accounting. In accordance with the applicable accounting guidance for defined benefit plans, the Company performed a remeasurement of the Citizens Qualified Plan and recognized a settlement loss.
Treasury Stock	Treasury Stock The purchase of the Company’s common stock is recorded at cost. At the date of retirement or subsequent reissuance, treasury stock is reduced by the cost of such stock on a first-in, first-out basis with differences recorded in additional paid-in capital or retained earnings, as applicable.
Compensation Expense	Citizens measures compensation expense related to stock awards based upon the fair value of the awards on the grant date. Compensation expense is adjusted for forfeitures as they occur. The related expense is charged to earnings on a straight-line basis over the requisite service period (e.g., vesting period) of the award. With respect to performance-based stock awards, compensation expense is adjusted upward or downward based upon the probability of achievement of performance. Awards that continue to vest after retirement are expensed over the shorter of the period of time from grant date to the final vesting date or from the grant date to the date when an employee is retirement eligible. Awards granted to employees who are retirement eligible at the grant date are generally expensed immediately upon grant.
Fair Value Measurements	Residential Mortgage Loans Held for Sale The fair value of residential mortgage LHFS is derived from observable mortgage security prices and includes adjustments for loan servicing value, agency guarantee fees, and other loan level attributes which are mostly observable in the marketplace. Credit risk does not significantly impact the valuation since these loans are sold shortly after origination. Therefore, the Company classifies residential mortgage LHFS in Level 2 of the fair value hierarchy. Residential mortgage loans accounted for under the fair value option are initially measured at fair value when the financial asset is originated or purchased. Subsequent changes in fair value are recognized in mortgage banking fees in the Consolidated Statements of Operations. Interest income on residential mortgage loans held for sale is calculated based on the contractual interest rate of the loan and is recorded in interest income. Commercial and Industrial, and Commercial Real Estate Loans Held for Sale The fair value of commercial and industrial, and commercial real estate LHFS is estimated using observable prices of similar loans that transact in the marketplace. In addition, Citizens uses external pricing services that provide estimates of fair values based on quotes from various dealers transacting in the market, sector curves or benchmarking techniques. Therefore, the Company classifies the commercial and industrial, and commercial real estate loans managed by the commercial secondary loan desk in Level 2 of the fair value hierarchy given the observable market inputs. The loans accounted for under the fair value option are initially measured at fair value when the financial asset is recognized. Subsequent changes in fair value are recognized in capital markets fees on the Consolidated Statements of Operations. Since all loans in the Company’s commercial trading portfolio consist of floating rate obligations, all changes in fair value are due to changes in credit risk. Such credit-related fair value changes may include observed changes in overall credit spreads and/or changes to the creditworthiness of an individual borrower. Interest income on commercial and industrial, and commercial real estate loans held for sale is calculated based on the contractual interest rate of the loan and is recorded in interest income. Recurring Fair Value Measurements Citizens measures fair value using the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is based upon quoted market prices in an active market, where available. If quoted prices are not available, observable market-based inputs or independently sourced parameters are used to develop fair value, whenever possible. Such inputs may include prices of similar assets or liabilities, yield curves, interest rates, prepayment speeds, and foreign exchange rates. A portion of the Company’s assets and liabilities are carried at fair value, including securities available for sale, derivative instruments and other investment securities. In addition, the Company elects to account for its loans associated with its mortgage banking business and secondary loan trading desk at fair value. Citizens classifies its assets and liabilities that are carried at fair value in accordance with the three-level valuation hierarchy: • Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by market data for substantially the full term of the asset or liability. • Level 3. Unobservable inputs that are supported by little or no market information and that are significant to the fair value measurement. Classification in the hierarchy is based upon the lowest level input that is significant to the fair value measurement of the asset or liability. For instruments classified in Levels 1 and 2 where inputs are primarily based upon observable market data, there is less judgment applied in arriving at the fair value. For instruments classified in Level 3, management judgment is more significant due to the lack of observable market data. Citizens reviews and updates the fair value hierarchy classifications on a quarterly basis. Changes from one quarter to the next related to the observability of inputs in fair value measurements may result in a reclassification between the fair value hierarchy levels and are recognized based on period-end balances. Citizens utilizes a variety of valuation techniques to measure its assets and liabilities at fair value on a recurring basis. The valuation methodologies used for significant assets and liabilities carried on the balance sheet at fair value on a recurring basis are presented below: Debt securities available for sale The fair value of debt securities classified as AFS is based upon quoted prices, if available. Where observable quoted prices are available in an active market, the security is classified as Level 1 in the fair value hierarchy. Classes of instruments that are valued using this market approach include debt securities issued by the U.S. Treasury. If quoted market prices are not available, the fair value for the security is estimated under the market or income approach using pricing models. These instruments are classified as Level 2 because they currently trade in active markets and the inputs to the valuations are observable. The pricing models used to value securities generally begin with market prices (or rates) for similar instruments and make adjustments based on the characteristics of the instrument being valued. These adjustments reflect assumptions made regarding the sensitivity of each security’s value to changes in interest rates and prepayment speeds. Classes of instruments that are valued using this market approach include specified pool mortgage “pass-through” securities, CLOs, and other debt securities issued by U.S. government-sponsored entities and state and political subdivisions. The pricing models used to value securities under the income approach generally begin with the contractual cash flows of each security and make adjustments based on forecasted prepayment speeds, default rates, and other market-observable information. The adjusted cash flows are then discounted at a rate derived from observed rates of return for comparable assets or liabilities that are traded in the market. Classes of instruments that are valued using this market approach include residential and commercial CMOs. A significant majority of the Company’s Level 1 and 2 debt securities are priced using an external pricing service. Citizens verifies the accuracy of the pricing provided by its primary outside pricing service on a quarterly basis. This process involves using a secondary external vendor to provide valuations for the Company’s securities portfolio for comparison purposes. Any valuation discrepancies beyond a certain threshold are researched and, if necessary, corroborated by an independent outside broker. In certain cases where there is limited activity or less transparency around inputs to the valuation model, securities are classified as Level 3. Mortgage Servicing Rights MSRs do not trade in an active market with readily observable prices. MSRs are classified as Level 3 since the valuation methodology utilizes significant unobservable inputs. The fair value is calculated using a discounted cash flow model which uses assumptions, including weighted-average life, prepayment assumptions and weighted-average option adjusted spread. The underlying assumptions and estimated values are corroborated by values received from independent third parties based on their review of the servicing portfolio, and comparisons to market transactions. In addition, the MSR Policy is approved by the Asset Liability Committee. Refer to Note 8 for more information. Derivatives The majority of the Company’s derivatives portfolio is composed of interest rate swaps, which are traded in over-the-counter markets where quoted market prices are not readily available. For these interest rate derivatives, fair value is determined utilizing models that primarily use market observable inputs, such as swap rates and yield curves. The pricing models used to value interest rate swaps calculate the sum of each instrument’s fixed and variable cash flows, which are then discounted using an appropriate yield curve (i.e., Overnight Index Swap curve) to arrive at the fair value of each swap. The pricing models do not contain a high level of subjectivity as the methodologies used do not require significant judgment. Citizens also considers certain adjustments to the modeled price that market participants would make when pricing each instrument, including a credit valuation adjustment that reflects the credit quality of the swap counterparty. Citizens incorporates the effect of exposure to a particular counterparty’s credit by netting its derivative contracts with the available collateral and calculating a credit valuation adjustment on the basis of the net position with the counterparty where permitted. The determination of this adjustment requires judgment on behalf of Company management; however, the total amount of this portfolio-level adjustment is not material to the total fair value of the interest rate swaps . Therefore, interest rate swaps are classified as Level 2 in the valuation hierarchy. The fair value of commodity derivatives uses the mid-point of market observable quoted prices as an input into the fair value model. The model uses the observed market prices combined with other market observed inputs to derive the fair value of the instrument, which generally classifies it as Level 2 instrument. The fair value of foreign exchange derivatives uses the mid-point of daily quoted currency spot prices. A valuation model estimates fair value based on the quoted spot rates together with interest rate yield curves and forward currency rates. Since all of these inputs are observable in the market, foreign exchange derivatives are classified as Level 2 in the fair value hierarchy. The fair value of TBA contracts is estimated using observable prices of similar loan pools that transact in the marketplace, as well as sector curves and benchmarking techniques. Therefore, the Company classifies TBA contracts in Level 2 of the fair value hierarchy given the observable market inputs. Other contracts primarily consist of interest rate lock commitments. Interest rate lock commitments are valued utilizing internally generated loan closing rate assumptions, which are a significant unobservable input, and therefore are classified as Level 3 in the fair value hierarchy. Equity Securities, at fair value The fair value of money market mutual fund investments is determined based upon unadjusted quoted market prices and is considered a Level 1 fair value measurement. Fair value is also used on a nonrecurring basis to evaluate certain assets for impairment or for disclosure purposes. The following valuation techniques are utilized to measure significant assets for which the Company utilizes fair value on a nonrecurring basis: Impaired Loans The carrying amount of collateral-dependent impaired loans is compared to the appraised value of the collateral less costs to dispose and is classified as Level 2. Any excess of carrying amount over the appraised value is charged to the ALLL.
Revenue from Contract with Customer	Revenues from Contracts with Customers Citizens recognizes revenue from contracts with customers in the amount of consideration it expects to receive upon the transfer of control of a good or service. The timing of recognition is dependent on whether the Company satisfies a performance obligation by transferring control of the product or service to a customer over time or at a point in time. Judgments are made in the recognition of income including the timing of satisfaction of performance obligations and determination of the transaction price. A description of the above components of revenue from contracts with customers is presented below: Service Charges and Fees Service charges and fees include fees earned from deposit products in lieu of compensating balances, service charges for transactions performed upon depositors’ request, as well as fees earned from performing cash management activities. Service charges on deposit products are recognized over the period in which the related service is provided, typically monthly. Service fees are recognized at a point in time upon completion of the requested service transaction. Fees on cash management products and servicing fees on loans sold without recognition of a servicing right are recognized over time (typically monthly) as services are provided. Card Fees Card fees include interchange income from credit and debit card transactions and are recognized at a point in time upon settlement by the association network. Interchange rates are generally set by the association network based on purchase volume and other factors. Other card-related fees are recognized at a point in time upon completion of the transaction. Costs related to card rewards programs are recognized in current earnings as the rewards are earned by the customer and are presented as a reduction to card fees on the Consolidated Statements of Operations. Capital Markets Fees Capital markets fees include fees received from leading or participating in loan syndications, bond and equity underwriting services, and advisory fees. Loan syndication and underwriting fees are recognized as revenue at a point in time when the Company has rendered all services to, and is entitled to collect the fee from, the borrower or the issuer, and there are no significant contingencies associated with the fee. Underwriting expenses passed through from the lead underwriter are recognized within other operating expense on the Consolidated Statements of Operations. Advisory fees for mergers and acquisitions are recognized over time, while valuation services and fairness opinions are recognized at a point in time upon completion of the advisory service. Trust and Investment Services Fees Trust and investment services fees include fees from investment management services and brokerage services. Fees from investment management services are based on asset market values and are recognized over the period in which the related service is provided. Brokerage services include custody fees, commission income, trailing commissions and other investment securities. Custody fees are recognized on a monthly basis for customers that are assessed custody fees. Commission income is recognized at a point in time on trade date. Trailing commissions such as 12b-1 fees, insurance renewal income, and income based on asset or investment levels in future periods are recognized at a point in time when the asset balance is known, or the renewal occurs and the income is no longer constrained. For the years ended December 31, 2022, 2021 and 2020, the Company recognized trailing commissions of $15 million, $16 million and $14 million, respectively, related to ongoing commissions from previous investment sales. Fees from other investment services are recognized at a point in time upon completion of the service. O ther Banking Fees Other banking fees include fees for various transactional banking activities such as letter of credit fees, foreign wire transfers and other transactional services. These fees are recognized in a manner that reflects the timing of when transactions occur and as services are provided. Revenue from Other Sources Letter of Credit and Loan Fees Letter of credit and loan fees primarily includes fees received related to letter of credit agreements as well as loan fees received from lending activities that are not deferrable. These fees are recognized upon execution of the contract. Foreign Exchange and Derivative Products Foreign exchange and derivative products primarily includes the fees received from foreign exchange and interest rate derivative contracts executed with customers to meet their hedging and financing needs. These fees are generally recognized upon execution of the contracts. Foreign exchange and derivative products also include the mark-to-market gains and losses recognized on these customer contracts and offsetting derivative contracts that are executed with external counterparties to hedge the foreign exchange and interest rate risk associated with the customer contracts. Mortgage Banking Fees Mortgage banking fees primarily include gains on sales of residential mortgages originated with the intent to sell and servicing fees on mortgages where the Company is the servicer. Mortgage banking fees also include valuation adjustments for mortgage loans held-for-sale that are measured at the lower of cost or fair value, as well as mortgage loans originated with the intent to sell that are measured at fair value under the fair value option. Changes in the value of MSRs are reported in mortgage fees and related income. For a further discussion of MSRs, see Note 8. Net interest income from mortgage loans is recorded in interest income. Other Income Bank-owned life insurance is stated at its cash surrender value. Citizens is the beneficiary of the life insurance policies on current and former officers and selected employees of the Company. Net changes in the carrying amount of the cash surrender value are an adjustment of premiums paid in determining the expense or income to be recognized under the life insurance policy for the period.
Income Taxes	Citizens uses an asset and liability (balance sheet) approach for financial accounting and reporting of income taxes, resulting in two components of income tax expense: current and deferred. Current income tax expense approximates taxes to be paid or refunded for the current period. Deferred income tax expense results from changes in gross deferred tax assets and liabilities between periods. These gross deferred tax assets and liabilities represent changes in taxes expected to be paid in the future due to reversals of temporary differences between the bases of the assets and liabilities as measured under tax laws and their bases reported in the Consolidated Financial Statements as measured under GAAP. Citizens also assesses the probability that the positions taken, or expected to be taken, in its income tax returns will be sustained by taxing authorities. A “more likely than not” (more than 50 percent) recognition threshold must be met before a tax benefit can be recognized. Tax positions that are more likely than not to be sustained are reflected in the Company’s Consolidated Financial Statements.
Earnings Per Share	Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period. Net income available to common stockholders represents net income after preferred stock dividends, accretion of the discount on preferred stock issuances, and gains or losses from any repurchases of preferred stock. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period, plus potential dilutive shares such as share-based payment awards and warrants using the treasury stock method.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule Of Significant Accounting Policies Locations	The following table identifies the Company’s significant accounting policies and the Note and Page where a detailed description of each policy can be found. Note Page Cash and Due From Banks 3 97 Securities 4 97 Loans and Leases 5 101 Allowance for Credit Losses 6 103 Premises, Equipment and Software 7 116 Mortgage Servicing Rights 8 117 Leases 9 119 Goodwill and Intangible Assets 10 120 Variable Interest Entities 11 122 Derivative Instruments 14 126 Employee Benefits 15 129 Treasury Stock 17 131 Employee Share-Based Compensation 18 133 Fair Value Measurement 20 135 Revenue Recognition 21 142 Income Taxes 23 144 Earnings Per Share 24 147
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Pronouncement Summary of Guidance Effects on Financial Statements Reference Rate Reform - Deferral of the Sunset Date December 2022 • This standard was effective upon issuance. • Deferred the sunset date of the temporary relief provided by ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting from December 31, 2022 to December 31, 2024. • The Company adopted this standard upon issuance. • Adoption did not have a material impact on the Company’s Consolidated Financial Statements.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of business acquisitions by acquisition, equity interest issued or issuable	The following table includes a preliminary allocation of the consideration paid for the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Investors: (in millions, except share and per share data) April 6, 2022 Consideration CFG common shares issued 72,148,855 CFG share price on April 6, 2022 $42.08 Fair value of consideration for outstanding common stock $3,036 Cash paid 355 Consideration related to equity awards 19 Fair value of merger consideration 3,410 Assets acquired Cash and equivalents 287 Investment securities 3,826 Loans held for sale 2,162 Net loans and leases 20,139 Premises and equipment 62 Core deposit intangible and other intangible assets 119 Other assets 924 Total assets acquired 27,519 Liabilities assumed Deposits 20,217 Borrowed funds 4,097 Other liabilities 668 Total liabilities assumed 24,982 Less: Net assets 2,537 Goodwill $873
Schedule of recognized identified assets acquired and liabilities assumed	The following table includes a preliminary allocation of the consideration paid for the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Investors: (in millions, except share and per share data) April 6, 2022 Consideration CFG common shares issued 72,148,855 CFG share price on April 6, 2022 $42.08 Fair value of consideration for outstanding common stock $3,036 Cash paid 355 Consideration related to equity awards 19 Fair value of merger consideration 3,410 Assets acquired Cash and equivalents 287 Investment securities 3,826 Loans held for sale 2,162 Net loans and leases 20,139 Premises and equipment 62 Core deposit intangible and other intangible assets 119 Other assets 924 Total assets acquired 27,519 Liabilities assumed Deposits 20,217 Borrowed funds 4,097 Other liabilities 668 Total liabilities assumed 24,982 Less: Net assets 2,537 Goodwill $873
Schedule of business acquisition	The following table includes the fair value and unpaid principal balance of the loans acquired from Investors: April 6, 2022 (in millions) Unpaid Principal Balance Fair Value Commercial and industrial $3,021 $2,899 Commercial real estate 13,310 13,065 Leases 9 9 Total commercial 16,340 15,973 Residential mortgages 3,949 3,889 Home equity 267 273 Other retail 4 4 Total retail 4,220 4,166 Net loans and leases $20,560 $20,139
Business acquisition, pro forma information	The following table presents the financial results of Investors included in the Consolidated Statements of Operations from the date of acquisition through December 31, 2022: (in millions) April 6, 2022 through December 31, 2022 Net interest income $627 Noninterest income 37 Net income 287 The following table presents unaudited supplemental pro forma financial information as if the Investors acquisition had occurred on January 1, 2021 and includes the impact of (i) amortizing and accreting fair value adjustments associated with loans and leases, (ii) the amortization of recognized intangible assets and the elimination of Investors’ historical amortization of these assets, (iii) the elimination of Investors’ historical accretion and amortization of deferred fees and costs on loans and leases, (iv) the elimination of Investors’ historical accretion and amortization of discounts and premiums on loans and leases, debt securities and long-term borrowed funds and (v) the related estimated income tax effects. The pro forma financial information does not necessarily reflect the results that would have occurred had Citizens acquired Investors on January 1, 2021. Year Ended December 31, (in millions) 2022 2021 Net interest income $6,226 $5,342 Noninterest income 2,055 2,168 Net income (1) 2,408 2,376 (1) Excludes the acceleration of one-time executive compensation and Employee Stock Ownership Plan expenses of $122 million incurred by Investors in the first quarter of 2022. In addition, the supplemental pro forma financial information includes non-recurring acquisition-related costs of $335 million incurred during the year ended December 31, 2022, as summarized in the following table. These costs, along with the $13 million incurred during 2021, are included in the first quarter of 2021 for the purpose of reporting supplemental pro forma financial information presented above. (in millions) Year Ended December 31, 2022 Provision for credit losses (1) $145 Salaries and employee benefits (2) 83 Outside services (3) 61 Mark-to-market losses on LHFS portfolio (4) 31 Other operating expense 15 Total acquisition-related costs $335 (1) Represents the initial provision for credit losses also recognized through a fair value mark as required by purchase accounting. (2) Comprised primarily of severance and employee retention costs. (3) Comprised primarily of technology, legal, advisory, and other professional related fees. (4) Represents mark-to-market losses on loans acquired from Investors classified as LHFS.
Schedule of changes in the allowance for credit losses	The following table presents PCD loan activity at the date of acquisition: (in millions) April 6, 2022 Principal balance $4,685 ALLL at acquisition (101) Non-credit discount (72) Purchase price $4,512 The following table presents a summary of changes in the ACL for the year ended December 31, 2022: Year Ended December 31, 2022 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $821 $937 $1,758 Allowance on PCD loans and leases at acquisition 99 2 101 Charge-offs (1) (70) (364) (434) Recoveries 18 146 164 Net charge-offs (52) (218) (270) Provision expense (benefit) for loans and leases (2) 192 202 394 Allowance for loan and lease losses, end of period 1,060 923 1,983 Allowance for unfunded lending commitments, beginning of period 153 23 176 Provision expense (benefit) for unfunded lending commitments 53 27 80 Allowance on PCD unfunded lending commitments at acquisition 1 — 1 Allowance for unfunded lending commitments, end of period 207 50 257 Total allowance for credit losses, end of period $1,267 $973 $2,240 (1) Excludes $34 million of charge-offs previously taken by Investors or recognized upon completion of the Investors acquisition under purchase accounting for the year ended December 31, 2022. The initial allowance for loan and lease losses on PCD assets included these amounts and, after charging these amounts off upon acquisition, the net impact for PCD assets was $101 million of additional allowance for loan and lease losses. (2) Includes $169 million of initial provision expense related to non-PCD loans and leases acquired from HSBC and Investors for the year ended December 31, 2022. The following tables present a summary of changes in the ACL for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $1,233 $1,210 $2,443 Charge-offs (218) (321) (539) Recoveries 54 160 214 Net charge-offs (164) (161) (325) Provision expense (benefit) for loans and leases (248) (112) (360) Allowance for loan and lease losses, end of period 821 937 1,758 Allowance for unfunded lending commitments, beginning of period 186 41 227 Provision expense (benefit) for unfunded lending commitments (33) (18) (51) Allowance for unfunded lending commitments, end of period 153 23 176 Total allowance for credit losses, end of period $974 $960 $1,934 Year Ended December 31, 2020 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $674 $578 $1,252 Cumulative effect of change in accounting principle (176) 629 453 Allowance for loan and lease losses, beginning of period, adjusted 498 1,207 1,705 Charge-offs (437) (406) (843) Recoveries 12 138 150 Net charge-offs (425) (268) (693) Provision expense (benefit) for loans and leases 1,160 271 1,431 Allowance for loan and lease losses, end of period 1,233 1,210 2,443 Allowance for unfunded lending commitments, beginning of period 44 — 44 Cumulative effect of change in accounting principle (3) 1 (2) Allowance for unfunded lending commitments, beginning of period, adjusted 41 1 42 Provision expense (benefit) for unfunded lending commitments 145 40 185 Allowance for unfunded lending commitments, end of period 186 41 227 Total allowance for credit losses, end of period $1,419 $1,251 $2,670

SECURITIES (Tables)

SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of securities held	The following table presents the major components of securities at amortized cost and fair value: December 31, 2022 December 31, 2021 (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and other $3,678 $1 ($193) $3,486 $11 $— $— $11 State and political subdivisions 2 — — 2 2 — — 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 21,250 10 (2,198) 19,062 24,607 210 (375) 24,442 Other/non-agency 280 — (29) 251 397 9 (1) 405 Total mortgage-backed 21,530 10 (2,227) 19,313 25,004 219 (376) 24,847 Collateralized loan obligations 1,248 — (42) 1,206 1,208 — (1) 1,207 Total debt securities available for sale, at fair value $26,458 $11 ($2,462) $24,007 $26,225 $219 ($377) $26,067 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities $9,253 $4 ($751) $8,506 $1,505 $52 $— $1,557 Total mortgage-backed 9,253 4 (751) 8,506 1,505 52 — 1,557 Asset-backed securities 581 — (45) 536 737 2 (7) 732 Total debt securities held to maturity $9,834 $4 ($796) $9,042 $2,242 $54 ($7) $2,289 Equity securities, at cost $1,058 $— $— $1,058 $624 $— $— $624 Equity securities, at fair value 153 — — 153 109 — — 109
Schedule of investments classified by maturity date	The following table presents the amortized cost and fair value of debt securities by contractual maturity as of December 31, 2022. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without incurring penalties. Distribution of Maturities (in millions) 1 Year or Less After 1 Year through 5 Years After 5 Years through 10 Years After 10 Years Total Amortized cost: U.S. Treasury and other $— $2,114 $1,564 $— $3,678 State and political subdivisions — — — 2 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 1 1,149 2,889 17,211 21,250 Other/non-agency — — — 280 280 Collateralized loan obligations — — 24 1,224 1,248 Total debt securities available for sale 1 3,263 4,477 18,717 26,458 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 9,253 9,253 Asset-backed securities — 581 — — 581 Total debt securities held to maturity — 581 — 9,253 9,834 Total amortized cost of debt securities $1 $3,844 $4,477 $27,970 $36,292 Fair value: U.S. Treasury and other $— $2,010 $1,476 $— $3,486 State and political subdivisions — — — 2 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 1 1,097 2,691 15,273 19,062 Other/non-agency — — — 251 251 Collateralized loan obligations — — 23 1,183 1,206 Total debt securities available for sale 1 3,107 4,190 16,709 24,007 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 8,506 8,506 Asset-backed securities — 536 — — 536 Total debt securities held to maturity — 536 — 8,506 9,042 Total fair value of debt securities $1 $3,643 $4,190 $25,215 $33,049
Schedule of income recognized on investment securities	The following table presents realized gains and losses on sale of securities: Year Ended December 31, (in millions) 2022 2021 2020 Gains $13 $15 $6 Losses (4) (5) (2) Securities gains, net $9 $10 $4
Schedule of financial instruments owned and pledged as collateral	The following table presents the amortized cost and fair value of debt securities pledged: December 31, 2022 December 31, 2021 (in millions) Amortized Cost Fair Value Amortized Cost Fair Value Pledged against derivatives, to qualify for fiduciary powers, or to secure public and other deposits as required by law $3,966 $3,527 $4,816 $4,782 Pledged as collateral for FHLB borrowing capacity 244 217 325 333 Pledged against repurchase agreements — — 1 1
Schedule of unrealized loss on investments	The following tables present AFS debt securities with fair values below their respective carrying values, separated by the duration the securities have been in a continuous unrealized loss position: December 31, 2022 Less than 12 Months 12 Months or Longer Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses US Treasury and other $3,356 ($193) $— $— $3,356 ($193) Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 13,353 (1,136) 5,042 (1,062) 18,395 (2,198) Other/non-agency 80 (8) 171 (21) 251 (29) Total mortgage-backed securities 13,433 (1,144) 5,213 (1,083) 18,646 (2,227) Collateralized loan obligations 785 (26) 421 (16) 1,206 (42) Total $17,574 ($1,363) $5,634 ($1,099) $23,208 ($2,462) December 31, 2021 Less than 12 Months 12 Months or Longer Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Mortgage-backed securities: Federal agencies and U.S. government sponsored entities $14,131 ($320) $1,236 ($55) $15,367 ($375) Other/non-agency 123 (1) — — 123 (1) Total mortgage-backed securities 14,254 (321) 1,236 (55) 15,490 (376) Collateralized loan obligations 736 (1) — — 736 (1) Total $14,990 ($322) $1,236 ($55) $16,226 ($377)

LOANS AND LEASES (Tables)

LOANS AND LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of loans and leases	The following table presents loans and leases, excluding LHFS: December 31, (in millions) 2022 2021 Commercial and industrial $51,836 $44,500 Commercial real estate 28,865 14,264 Leases 1,479 1,586 Total commercial 82,180 60,350 Residential mortgages 29,921 22,822 Home equity 14,043 12,015 Automobile 12,292 14,549 Education 12,808 12,997 Other retail 5,418 5,430 Total retail 74,482 67,813 Total loans and leases $156,662 $128,163 The following table presents the composition of LHFS: December 31, 2022 December 31, 2021 (in millions) Residential Mortgages (1) Commercial (2) Total Residential Mortgages (1) Commercial (2) Total Loans held for sale at fair value $666 $108 $774 $2,657 $76 $2,733 Other loans held for sale — 208 208 — 735 735 (1) Residential mortgage LHFS are originated for sale. (2) Commercial LHFS at fair value consist of loans managed by the Company’s commercial secondary loan desk. Other commercial LHFS primarily consist of loans associated with the Company’s syndication business.
Schedule of investment in leases, before the ALLL	The components of the net investment in direct financing and sales-type leases, before ALLL, are presented below: (in millions) December 31, 2022 December 31, 2021 Total future minimum lease rentals $1,193 $1,195 Estimated residual value of leased equipment (non-guaranteed) 413 521 Initial direct costs 5 6 Unearned income (132) (136) Total leases $1,479 $1,586
Maturity analysis of direct financing lease receivables	A maturity analysis of direct financing and sales-type lease receivables at December 31, 2022 is presented below: (in millions) 2023 $334 2024 247 2025 193 2026 144 2027 122 Thereafter 153 Total undiscounted future minimum lease rentals $1,193

ALLOWANCE FOR CREDIT LOSSES, _2

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of changes in the allowance for credit losses	The following table presents PCD loan activity at the date of acquisition: (in millions) April 6, 2022 Principal balance $4,685 ALLL at acquisition (101) Non-credit discount (72) Purchase price $4,512 The following table presents a summary of changes in the ACL for the year ended December 31, 2022: Year Ended December 31, 2022 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $821 $937 $1,758 Allowance on PCD loans and leases at acquisition 99 2 101 Charge-offs (1) (70) (364) (434) Recoveries 18 146 164 Net charge-offs (52) (218) (270) Provision expense (benefit) for loans and leases (2) 192 202 394 Allowance for loan and lease losses, end of period 1,060 923 1,983 Allowance for unfunded lending commitments, beginning of period 153 23 176 Provision expense (benefit) for unfunded lending commitments 53 27 80 Allowance on PCD unfunded lending commitments at acquisition 1 — 1 Allowance for unfunded lending commitments, end of period 207 50 257 Total allowance for credit losses, end of period $1,267 $973 $2,240 (1) Excludes $34 million of charge-offs previously taken by Investors or recognized upon completion of the Investors acquisition under purchase accounting for the year ended December 31, 2022. The initial allowance for loan and lease losses on PCD assets included these amounts and, after charging these amounts off upon acquisition, the net impact for PCD assets was $101 million of additional allowance for loan and lease losses. (2) Includes $169 million of initial provision expense related to non-PCD loans and leases acquired from HSBC and Investors for the year ended December 31, 2022. The following tables present a summary of changes in the ACL for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $1,233 $1,210 $2,443 Charge-offs (218) (321) (539) Recoveries 54 160 214 Net charge-offs (164) (161) (325) Provision expense (benefit) for loans and leases (248) (112) (360) Allowance for loan and lease losses, end of period 821 937 1,758 Allowance for unfunded lending commitments, beginning of period 186 41 227 Provision expense (benefit) for unfunded lending commitments (33) (18) (51) Allowance for unfunded lending commitments, end of period 153 23 176 Total allowance for credit losses, end of period $974 $960 $1,934 Year Ended December 31, 2020 (in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $674 $578 $1,252 Cumulative effect of change in accounting principle (176) 629 453 Allowance for loan and lease losses, beginning of period, adjusted 498 1,207 1,705 Charge-offs (437) (406) (843) Recoveries 12 138 150 Net charge-offs (425) (268) (693) Provision expense (benefit) for loans and leases 1,160 271 1,431 Allowance for loan and lease losses, end of period 1,233 1,210 2,443 Allowance for unfunded lending commitments, beginning of period 44 — 44 Cumulative effect of change in accounting principle (3) 1 (2) Allowance for unfunded lending commitments, beginning of period, adjusted 41 1 42 Provision expense (benefit) for unfunded lending commitments 145 40 185 Allowance for unfunded lending commitments, end of period 186 41 227 Total allowance for credit losses, end of period $1,419 $1,251 $2,670
Schedule of loans that may increase credit exposure	The following table presents the amortized cost basis of commercial loans and leases, by vintage date and regulatory classification rating, as of December 31, 2022: Term Loans by Origination Year Revolving Loans (in millions) 2022 2021 2020 2019 2018 Prior to 2018 Within the Revolving Period Converted to Term Total Commercial and industrial Pass $8,304 $8,469 $2,224 $2,074 $1,334 $1,952 $24,211 $148 $48,716 Special Mention 124 189 120 74 48 153 364 — 1,072 Substandard 150 218 203 255 99 349 597 14 1,885 Doubtful 10 14 1 5 41 14 76 2 163 Total commercial and industrial 8,588 8,890 2,548 2,408 1,522 2,468 25,248 164 51,836 Commercial real estate Pass 5,767 6,442 3,639 3,066 2,145 3,536 1,888 3 26,486 Special Mention 1 119 103 390 99 113 62 — 887 Substandard 92 18 79 253 350 610 23 — 1,425 Doubtful — 2 9 55 — 1 — — 67 Total commercial real estate 5,860 6,581 3,830 3,764 2,594 4,260 1,973 3 28,865 Leases Pass 263 363 250 99 128 345 — — 1,448 Special Mention 4 5 2 6 1 3 — — 21 Substandard — 4 3 3 — — — — 10 Doubtful — — — — — — — — — Total leases 267 372 255 108 129 348 — — 1,479 Total commercial Pass 14,334 15,274 6,113 5,239 3,607 5,833 26,099 151 76,650 Special Mention 129 313 225 470 148 269 426 — 1,980 Substandard 242 240 285 511 449 959 620 14 3,320 Doubtful 10 16 10 60 41 15 76 2 230 Total commercial $14,715 $15,843 $6,633 $6,280 $4,245 $7,076 $27,221 $167 $82,180 The following table presents the amortized cost basis of commercial loans and leases, by vintage date and regulatory classification rating, as of December 31, 2021: Term Loans by Origination Year Revolving Loans (in millions) 2021 2020 2019 2018 2017 Prior to 2017 Within the Revolving Period Converted to Term Total Commercial and industrial Pass $10,218 $3,336 $3,599 $2,284 $1,426 $1,863 $19,406 $122 $42,254 Special Mention 47 71 155 114 41 64 316 1 809 Substandard 97 112 215 81 50 201 521 17 1,294 Doubtful 1 9 9 22 10 16 74 2 143 Total commercial and industrial 10,363 3,528 3,978 2,501 1,527 2,144 20,317 142 44,500 Commercial real estate Pass 2,766 2,417 3,181 1,756 626 1,119 1,451 3 13,319 Special Mention 45 42 113 100 27 79 — — 406 Substandard 27 — 88 267 78 59 9 — 528 Doubtful 1 9 — — — 1 — — 11 Total commercial real estate 2,839 2,468 3,382 2,123 731 1,258 1,460 3 14,264 Leases Pass 447 262 134 144 66 459 — — 1,512 Special Mention 10 15 — 5 3 16 — — 49 Substandard 1 16 5 2 — — — — 24 Doubtful — — — — — 1 — — 1 Total leases 458 293 139 151 69 476 — — 1,586 Total commercial Pass 13,431 6,015 6,914 4,184 2,118 3,441 20,857 125 57,085 Special Mention 102 128 268 219 71 159 316 1 1,264 Substandard 125 128 308 350 128 260 530 17 1,846 Doubtful 2 18 9 22 10 18 74 2 155 Total commercial $13,660 $6,289 $7,499 $4,775 $2,327 $3,878 $21,777 $145 $60,350 For retail loans, Citizens utilizes FICO credit scores and the loan’s payment and delinquency status to monitor credit quality. Management believes FICO scores are the strongest indicator of credit losses over the contractual life of the loan and assist management in predicting the borrower’s future payment performance. Scores are based on current and historical national industry-wide consumer level credit performance data. The following table presents the amortized cost basis of retail loans, by vintage date and FICO scores, as of December 31, 2022: Term Loans by Origination Year Revolving Loans (in millions) 2022 2021 2020 2019 2018 Prior to 2018 Within the Revolving Period Converted to Term Total Residential mortgages 800+ $2,132 $4,943 $3,143 $1,180 $363 $3,081 $— $— $14,842 740-799 2,376 2,991 1,660 638 257 1,635 — — 9,557 680-739 769 899 502 308 149 851 — — 3,478 620-679 125 168 135 138 99 422 — — 1,087 <620 17 68 77 165 147 455 — — 929 No FICO available (1) 2 2 2 3 2 17 — — 28 Total residential mortgages 5,421 9,071 5,519 2,432 1,017 6,461 — — 29,921 Home equity 800+ 4 5 2 5 6 110 4,958 267 5,357 740-799 2 2 1 4 6 97 4,350 274 4,736 680-739 1 1 1 6 11 114 2,296 234 2,664 620-679 — 1 2 9 16 93 558 143 822 <620 — — 2 12 18 82 178 172 464 Total home equity 7 9 8 36 57 496 12,340 1,090 14,043 Automobile 800+ 650 1,453 584 324 120 54 — — 3,185 740-799 962 1,606 649 343 134 56 — — 3,750 680-739 920 1,187 460 254 102 44 — — 2,967 620-679 554 586 205 133 62 28 — — 1,568 <620 188 309 130 106 56 31 — — 820 No FICO available (1) 2 — — — — — — — 2 Total automobile 3,276 5,141 2,028 1,160 474 213 — — 12,292 Education 800+ 548 1,720 1,567 694 410 1,068 — — 6,007 740-799 735 1,351 1,126 486 267 609 — — 4,574 680-739 363 423 356 170 103 288 — — 1,703 620-679 54 76 62 38 29 102 — — 361 <620 6 16 20 12 11 50 — — 115 No FICO available (1) 6 — — — — 42 — — 48 Total education 1,712 3,586 3,131 1,400 820 2,159 — — 12,808 Other retail 800+ 182 105 93 48 25 27 491 — 971 740-799 230 134 121 68 31 25 974 1 1,584 680-739 175 109 103 52 21 14 993 4 1,471 620-679 108 65 52 18 8 4 435 4 694 <620 35 30 25 9 4 2 190 6 301 No FICO available (1) 12 1 3 — — — 380 1 397 Total other retail 742 444 397 195 89 72 3,463 16 5,418 Total retail 800+ 3,516 8,226 5,389 2,251 924 4,340 5,449 267 30,362 740-799 4,305 6,084 3,557 1,539 695 2,422 5,324 275 24,201 680-739 2,228 2,619 1,422 790 386 1,311 3,289 238 12,283 620-679 841 896 456 336 214 649 993 147 4,532 <620 246 423 254 304 236 620 368 178 2,629 No FICO available (1) 22 3 5 3 2 59 380 1 475 Total retail $11,158 $18,251 $11,083 $5,223 $2,457 $9,401 $15,803 $1,106 $74,482 (1) Represents loans for which an updated FICO score was unavailable (e.g., due to recent profile changes). The following table presents the amortized cost basis of retail loans, by vintage date and FICO scores, as of December 31, 2021: Term Loans by Origination Year Revolving Loans (in millions) 2021 2020 2019 2018 2017 Prior to 2017 Within the Revolving Period Converted to Term Total Residential mortgages 800+ $2,431 $3,017 $1,230 $342 $672 $2,139 $— $— $9,831 740-799 4,015 1,876 746 246 360 1,086 — — 8,329 680-739 1,116 572 335 152 172 585 — — 2,932 620-679 111 130 161 93 107 276 — — 878 <620 24 66 164 162 157 257 — — 830 No FICO available (1) 3 8 1 — — 10 — — 22 Total residential mortgages 7,700 5,669 2,637 995 1,468 4,353 — — 22,822 Home equity 800+ — 2 5 5 3 134 4,394 281 4,824 740-799 — 1 4 5 7 122 3,514 278 3,931 680-739 — 1 7 14 16 134 1,738 243 2,153 620-679 — 3 11 19 17 112 363 167 692 <620 — 2 16 23 20 87 91 176 415 Total home equity — 9 43 66 63 589 10,100 1,145 12,015 Automobile 800+ 1,887 829 538 244 148 57 — — 3,703 740-799 2,418 1,051 615 288 156 58 — — 4,586 680-739 1,968 827 500 234 123 48 — — 3,700 620-679 1,029 378 257 131 72 32 — — 1,899 <620 164 142 155 103 62 32 — — 658 No FICO available (1) 3 — — — — — — — 3 Total automobile 7,469 3,227 2,065 1,000 561 227 — — 14,549 Education 800+ 1,361 1,771 840 514 470 880 — — 5,836 740-799 1,555 1,577 672 371 275 514 — — 4,964 680-739 512 474 229 140 107 262 — — 1,724 620-679 50 66 45 34 28 99 — — 322 <620 5 11 12 12 10 45 — — 95 No FICO available (1) 4 — — — — 52 — — 56 Total education 3,487 3,899 1,798 1,071 890 1,852 — — 12,997 Other retail 800+ 233 214 122 65 30 29 386 — 1,079 740-799 323 296 173 84 38 26 764 2 1,706 680-739 246 240 122 56 23 12 709 5 1,413 620-679 149 119 43 19 7 4 299 5 645 <620 32 37 17 10 3 2 100 6 207 No FICO available (1) 44 5 — — — — 330 1 380 Total other retail 1,027 911 477 234 101 73 2,588 19 5,430 Total retail 800+ 5,912 5,833 2,735 1,170 1,323 3,239 4,780 281 25,273 740-799 8,311 4,801 2,210 994 836 1,806 4,278 280 23,516 680-739 3,842 2,114 1,193 596 441 1,041 2,447 248 11,922 620-679 1,339 696 517 296 231 523 662 172 4,436 <620 225 258 364 310 252 423 191 182 2,205 No FICO available (1) 54 13 1 — — 62 330 1 461 Total retail $19,683 $13,715 $7,020 $3,366 $3,083 $7,094 $12,688 $1,164 $67,813 (1) Represents loans for which an updated FICO score was unavailable (e.g., due to recent profile changes).
Schedule of nonperforming loans and leases by class	The following tables present an aging analysis of accruing loans and leases, and nonaccrual loans and leases as of December 31, 2022 and 2021: December 31, 2022 Days Past Due and Accruing (in millions) Current 30-59 60-89 90+ Nonaccrual Total Nonaccrual with no related ACL Commercial and industrial $51,389 $152 $25 $21 $249 $51,836 $64 Commercial real estate 28,665 51 45 1 103 28,865 7 Leases 1,475 4 — — — 1,479 — Total commercial 81,529 207 70 22 352 82,180 71 Residential mortgages (1) 29,228 95 45 319 234 29,921 187 Home equity 13,719 64 19 — 241 14,043 185 Automobile 12,039 152 45 — 56 12,292 9 Education 12,718 36 17 4 33 12,808 3 Other retail 5,294 44 30 22 28 5,418 1 Total retail 72,998 391 156 345 592 74,482 385 Total $154,527 $598 $226 $367 $944 $156,662 $456 December 31, 2021 Days Past Due and Accruing (in millions) Current 30-59 60-89 90+ Nonaccrual Total Nonaccrual with no related ACL Commercial and industrial $44,247 $47 $26 $9 $171 $44,500 $36 Commercial real estate 14,247 6 — — 11 14,264 1 Leases 1,570 14 1 — 1 1,586 — Total commercial 60,064 67 27 9 183 60,350 37 Residential mortgages (1) 21,918 102 52 549 201 22,822 137 Home equity 11,745 38 12 — 220 12,015 186 Automobile 14,324 131 39 — 55 14,549 22 Education 12,926 34 13 1 23 12,997 2 Other retail 5,331 40 23 16 20 5,430 2 Total retail 66,244 345 139 566 519 67,813 349 Total $126,308 $412 $166 $575 $702 $128,163 $386 (1) 90+ days past due and accruing includes $316 million and $544 million of loans fully or partially guaranteed by the FHA, VA and USDA at December 31, 2022 and 2021, respectively.
Troubled debt restructurings on financing receivables	The following tables summarize loans modified during the years ended December 31, 2022, 2021 and 2020. The balances represent the post-modification outstanding amortized cost basis and may include loans that became TDRs during the period and were subsequently paid off in full, charged off, or sold prior to period end. Pre-modification balances for modified loans approximate the post-modification balances shown. December 31, 2022 Amortized Cost Basis (dollars in millions) Number of Contracts Interest Rate Reduction (1) Maturity Extension (2) Other (3) Total Commercial and industrial 29 $— $26 $— $26 Total commercial 29 — 26 — 26 Residential mortgages 1,884 52 96 260 408 Home equity 381 4 2 19 25 Automobile 601 2 — 4 6 Education 631 — — 25 25 Other retail 2,320 10 — 1 11 Total retail 5,817 68 98 309 475 Total 5,846 $68 $124 $309 $501 December 31, 2021 Amortized Cost Basis (dollars in millions) Number of Contracts Interest Rate Reduction (1) Maturity Extension (2) Other (3) Total Commercial and industrial 44 $— $44 $123 $167 Total commercial 44 — 44 123 167 Residential mortgages 922 21 137 60 218 Home equity 412 5 11 13 29 Automobile 1,463 2 — 15 17 Education 807 — — 26 26 Other retail 2,291 9 — 2 11 Total retail 5,895 37 148 116 301 Total 5,939 $37 $192 $239 $468 December 31, 2020 Amortized Cost Basis (dollars in millions) Number of Contracts Interest Rate Reduction (1) Maturity Extension (2) Other (3) Total Commercial and industrial 70 $— $107 $325 $432 Commercial real estate 1 — 7 — 7 Total commercial 71 — 114 325 439 Residential mortgages 473 39 34 13 86 Home equity 723 12 12 23 47 Automobile 3,236 2 1 47 50 Education 465 — — 10 10 Other retail 2,591 10 — 2 12 Total retail 7,488 63 47 95 205 Total 7,559 $63 $161 $420 $644 (1) Includes modifications that consist of multiple concessions, one of which is an interest rate reduction. (2) Includes modifications that consist of multiple concessions, one of which is a maturity extension (unless one of the other concessions was an interest rate reduction). (3) Includes modifications other than interest rate reductions or maturity extensions, such as lowering scheduled payments for a specified period of time, principal forgiveness, and capitalizing arrearages. Also included are the following: deferrals, trial modifications, certain bankruptcies, loans in forbearance and prepayment plans. Modifications can include the deferral of accrued interest resulting in post modification balances being higher than pre-modification.
Financing receivable, troubled debt restructuring, default	The following table provides a summary of TDRs that defaulted (became 90 days or more past due) within 12 months of their modification date: Year Ended December 31, (in millions) 2022 2021 2020 Commercial TDRs $— $23 $54 Retail TDRs (1) 242 95 46 Total $242 $118 $100 (1) Includes $187 million, $61 million and $16 million of loans fully or partially government guaranteed by the FHA, VA, and USDA for the years ended December 31, 2022, 2021 and 2020, respectively.

PREMISES, EQUIPMENT, AND SOFT_2

PREMISES, EQUIPMENT, AND SOFTWARE (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Summary of the carrying value of premises and equipment	A summary of the carrying value of premises and equipment is presented below: December 31, (dollars in millions) Useful Lives (years) 2022 2021 Land and land improvements 10 - 75 $144 $101 Buildings and leasehold improvements 5 - 60 879 805 Furniture, fixtures and equipment 4 - 20 622 589 Construction in progress 61 77 Total premises and equipment, gross 1,706 1,572 Accumulated depreciation (862) (804) Total premises and equipment, net $844 $768
Schedule of estimated future amortization expense for capitalized software assets	The estimated future amortization expense for capitalized software assets is presented below. Year (in millions) 2023 $226 2024 199 2025 158 2026 90 2027 33 Thereafter 7 Total (1) $713 (1) Excluded from this balance is $174 million of in-process software at December 31, 2022.

MORTGAGE BANKING AND OTHER SE_2

MORTGAGE BANKING AND OTHER SERVICED LOANS (Tables)	12 Months Ended
	Dec. 31, 2022
Mortgage Banking [Abstract]
Schedule of mortgage banking activities	The following table summarizes activity related to residential mortgage loans sold with servicing rights retained: Year Ended December 31, (in millions) 2022 2021 2020 Cash proceeds from residential mortgage loans sold with servicing retained $17,025 $37,039 $33,221 Repurchased residential mortgages (1) 87 1,381 — Gain on sales (2) 86 382 895 Contractually specified servicing, late and other ancillary fees (2) 287 247 227 (1) Includes government insured or guaranteed loans repurchased through the exercise of the Company’s removal of account provision option. (2) Reported in mortgage banking fees in the Consolidated Statements of Operations.
Servicing asset at fair value	The following table summarizes changes in MSRs recorded using the fair value method: As of and for the Year Ended December 31, (in millions) 2022 2021 Fair value as of beginning of the period $1,029 $658 Amounts capitalized 279 419 Servicing rights acquired (1) 16 — Changes in unpaid principal balance during the period (2) (137) (212) Changes in fair value during the period (3) 343 164 Fair value at end of the period $1,530 $1,029 (1) Represents MSRs acquired as part of the Investors acquisition. (2) Represents changes in value of the MSRs due to i) passage of time including the impact from both regularly scheduled loan principal payments and partial paydowns, and ii) loans that paid off during the period. (3) Represents changes in value primarily driven by market conditions. These changes are recorded in mortgage banking fees in the Consolidated Statements of Operations.
Schedule of fair value assumptions used to estimate the value of Mortgage Servicing Rights	The sensitivity analysis below presents the impact of an immediate 10% and 20% adverse change in key economic assumptions to the current fair value of MSRs. These sensitivities are hypothetical, with the effect of a variation in a particular assumption on the fair value of the MSRs calculated independently without changing any other assumption. In reality, changes in one factor may result in changes in another (e.g., changes in interest rates, which drive changes in prepayment rates, could result in changes in the discount rates), which may amplify or counteract the sensitivities. The primary risk inherent in the Company’s MSRs is an increase in prepayments of the underlying mortgage loans serviced, which is largely dependent upon movements in market interest rates. (dollars in millions) December 31, 2022 December 31, 2021 Fair value $1,530 $1,029 Weighted average life (years) 9.1 6.4 Weighted average constant prepayment rate 6.8% 10.7% Decline in fair value from 10% adverse change $34 $45 Decline in fair value from 20% adverse change $66 $87 Weighted average option adjusted spread 629 bps 596 bps Decline in fair value from 10% adverse change $43 $25 Decline in fair value from 20% adverse change $86 $50
Schedule Of Other Serviced Loans	The following table presents the unpaid principal balance of other serviced loans: (in millions) December 31, 2022 December 31, 2021 Education $602 $761 Commercial and industrial (1) 91 80 (1) Represents the government guaranteed portion of SBA loans sold to outside investors.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Components of operating lease cost	The components of operating lease cost are presented below. Year Ended December 31, (in millions) 2022 2021 2020 Operating lease cost $216 $161 $165 Short-term lease cost 2 1 4 Variable lease cost 7 8 8 Sublease income (1) (4) (4) Total $224 $166 $173 Year Ended December 31, (in millions) 2022 2021 2020 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $219 $163 $167 Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets: Right-of-use assets in exchange for new operating lease liabilities 408 79 268
Supplemental consolidated balance sheet information	Supplemental information related to the Company’s operating lease arrangements is presented in the tables below: (dollars in millions) December 31, 2022 December 31, 2021 Affected Line Item in Consolidated Balance Sheets Operating lease right-of-use assets $1,019 $766 Other assets Operating lease liabilities 1,066 800 Other liabilities Weighted average remaining lease term (years) 7 7 — Weighted average discount rate 2.74 % 2.34 % —
Lease liability maturity schedule	At December 31, 2022, lease liabilities maturing under non-cancelable operating leases are presented below for the years ended December 31. (in millions) Operating Leases 2023 $207 2024 206 2025 178 2026 142 2027 123 Thereafter 324 Total lease payments 1,180 Less: Interest 114 Present value of lease liabilities $1,066

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Changes in the carrying value of goodwill for the years ended December 31, 2022 and 2021 are presented below. (in millions) Consumer Banking Commercial Banking Total Balance at December 31, 2020 $2,258 $4,792 $7,050 Business acquisitions — 66 66 Balance at December 31, 2021 $2,258 $4,858 $7,116 Business acquisitions 415 642 1,057 Balance at December 31, 2022 $2,673 $5,500 $8,173
Carrying value of intangible assets	A summary of the carrying value of intangible assets is presented below. December 31, 2022 December 31, 2021 (dollars in millions) Amortizable Lives (years) Gross (1) Accumulated Amortization Net Gross Accumulated Amortization Net Core deposits 10 $144 $20 $124 $— $— $— Acquired technology 5 - 7 23 19 4 21 11 10 Acquired relationships 2 - 15 54 21 33 53 14 39 Naming Rights 5 - 10 33 7 26 10 3 7 Other 2 - 7 17 7 10 13 5 8 Total $271 $74 $197 $97 $33 $64 (1) Includes $97 million and $47 million of core deposits from the Investors acquisition and the HSBC transaction, respectively, and $24 million of naming rights from the Investors acquisition.
Intangible assets future amortization expense	Estimated intangible asset amortization expense for the next five years is as follows: (in millions) Total 2023 $41 2024 34 2025 31 2026 28 2027 24

VARIABLE INTEREST ENTITIES VARI

VARIABLE INTEREST ENTITIES VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Variable Interest Entities	A summary of these investments is presented below: December 31, (in millions) 2022 2021 Lending to special purpose entities included in loans and leases $4,578 $2,646 LIHTC investment included in other assets 2,230 1,978 LIHTC unfunded commitments included in other liabilities 1,046 927 Asset-backed investments included in HTM securities 581 737 Renewable energy investments included in other assets 374 429
Schedule of Affordable Housing Tax Credit Investments	The following table presents information related to the Company’s affordable housing tax credit investments: Year Ended December 31, (in millions) 2022 2021 2020 Tax credits included in income tax expense $236 $202 $159 Other tax benefits included in income tax expense 59 48 38 Total tax benefits included in income tax expense 295 250 197 Less: Amortization included in income tax expense 247 208 168 Net benefit from affordable housing tax credit investments included in income tax expense $48 $42 $29

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2022
Deposits [Abstract]
Schedule of the major components of deposits	The following table presents the major components of deposits: December 31, (in millions) 2022 2021 Demand $49,283 $49,443 Money market 49,905 47,216 Checking with interest 39,721 30,409 Savings 29,805 22,030 Term 12,010 5,263 Total deposits $180,724 $154,361
Schedule of the major components of deposits	The following table presents the maturity distribution of term deposits by year as of December 31, 2022: (in millions) 2023 $10,723 2024 991 2025 156 2026 74 2027 63 2028 and thereafter 3 Total $12,010
Schedule of maturities of term deposits greater than $100,000	The following table presents the remaining maturities of term deposits with a denomination of $250,000 or more at December 31, 2022: (in millions) Three months or less $995 After three months through six months 101 After six months through twelve months 630 After twelve months 249 Total term deposits $1,975

BORROWED FUNDS (Tables)

BORROWED FUNDS (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of short-term borrowed funds	The following table presents a summary of the Company’s short-term borrowed funds: December 31, (in millions) 2022 2021 Securities sold under agreements to repurchase $— $1 Other short-term borrowed funds 3 73 Total short-term borrowed funds $3 $74
Schedule of long-term borrowed funds	The following table presents a summary of the Company’s long-term borrowed funds: December 31, (in millions) 2022 2021 Parent Company: 4.150% fixed-rate subordinated debt, due September 2022 $— $168 3.750% fixed-rate subordinated debt, due July 2024 90 90 4.023% fixed-rate subordinated debt, due October 2024 17 17 4.350% fixed-rate subordinated debt, due August 2025 133 133 4.300% fixed-rate subordinated debt, due December 2025 336 336 2.850% fixed-rate senior unsecured notes, due July 2026 498 498 2.500% fixed-rate senior unsecured notes, due February 2030 298 298 3.250% fixed-rate senior unsecured notes, due April 2030 746 745 3.750% fixed-rate reset subordinated debt, due February 2031 69 69 4.300% fixed-rate reset subordinated debt, due February 2031 135 135 4.350% fixed-rate reset subordinated debt, due February 2031 61 60 2.638% fixed-rate subordinated debt, due September 2032 556 550 5.641% fixed-rate reset subordinated debt, due May 2037 397 — CBNA’s Global Note Program: 3.250% senior unsecured notes, due February 2022 — 700 0.845% floating-rate senior unsecured notes, due February 2022 (1) — 300 1.318% floating-rate senior unsecured notes, due May 2022 (1) — 250 2.650% senior unsecured notes, due May 2022 — 503 3.700% senior unsecured notes, due March 2023 497 512 5.676% floating-rate senior unsecured notes, due March 2023 (1) 250 250 2.250% senior unsecured notes, due April 2025 748 746 4.119% fixed/floating-rate senior unsecured notes, due May 2025 648 — 6.064% fixed/floating-rate senior unsecured notes, due October 2025 598 — 3.750% senior unsecured notes, due February 2026 475 524 4.575% fixed/floating-rate senior unsecured notes, due August 2028 797 — Additional Borrowings by CBNA and Other Subsidiaries: Federal Home Loan Bank advances, 4.283% weighted average rate, due through 2041 (2) 8,519 19 Other 19 29 Total long-term borrowed funds $15,887 $6,932 (1) Rate disclosed reflects the floating rate as of December 31, 2022, or final floating rate as applicable. (2) Rate disclosed reflects the weighted average rate as of December 31, 2022.
Schedule of maturities of long-term borrowed funds	The following table presents a summary of maturities for the Company’s long-term borrowed funds at December 31, 2022: (in millions) Parent Company CBNA and Other Subsidiaries Consolidated Year 2023 $— $751 $751 2024 107 8,501 8,608 2025 469 2,008 2,477 2026 498 475 973 2027 — 1 1 2028 and thereafter 2,262 815 3,077 Total 3,336 12,551 15,887

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments in consolidated balance sheets	The following table presents derivative instruments included in the Consolidated Balance Sheets: December 31, 2022 December 31, 2021 (in millions) Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate contracts $42,250 $16 $53 $23,450 $12 $2 Derivatives not designated as hedging instruments: Interest rate contracts 174,384 331 1,579 142,987 680 174 Foreign exchange contracts 29,475 527 519 21,336 263 231 Commodities contracts 1,103 953 942 514 508 505 TBA contracts 2,370 7 14 7,776 8 8 Other contracts 913 5 4 3,555 38 2 Total derivatives not designated as hedging instruments 1,823 3,058 1,497 920 Gross derivative fair values 1,839 3,111 1,509 922 Less: Gross amounts offset in the Consolidated Balance Sheets (1) (623) (623) (235) (235) Less: Cash collateral applied (1) (374) (579) (58) (490) Total net derivative fair values presented in the Consolidated Balance Sheets $842 $1,909 $1,216 $197 (1) Amounts represent the impact of enforceable master netting agreements that allow the Company to net settle positive and negative positions as well as collateral paid and received.
Schedule of fair value hedges	The following table presents the change in fair value of interest rate contracts designated as fair value hedges, as well as the change in fair value of the related hedged items attributable to the risk being hedged, included in the Consolidated Statements of Operations: Year Ended December 31, (in millions) 2022 2021 2020 Affected Line Item in the Consolidated Statements of Operations Interest rate swaps hedging borrowed funds ($69) ($72) $65 Interest expense - long-term borrowed funds Hedged long-term borrowed funds attributable to the risk being hedged 68 71 (63) Interest expense - long-term borrowed funds Interest rate swaps hedging loans held for sale 13 — 17 Interest and fees on other loans held for sale Hedged loans held for sale attributable to the risk being hedged (13) — (17) Interest and fees on other loans held for sale Interest rate swaps hedging debt securities available for sale 29 68 (104) Interest income - investment securities Hedged debt securities available for sale attributable to risk being hedged (29) (68) 104 Interest income - investment securities The following table reflects amounts recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges: December 31, 2022 December 31, 2021 (in millions) Debt securities available for sale Long-term borrowed funds Debt securities available for sale (1) Long-term borrowed funds Carrying amount of hedged assets $— $— $6,042 $— Carrying amount of hedged liabilities — 972 — 2,239 Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items — (27) 29 42 (1) The Company designated $2.0 billion as the hedged amount (from a closed portfolio of prepayable financial assets with an amortized cost basis of $6.0 billion as of December 31, 2021) in a last-of-layer hedging relationship, which commenced in the third quarter of 2019 and was terminated in the first quarter of 2022.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents the pre-tax net gains (losses) recorded in the Consolidated Statements of Operations and in the Consolidated Statements of Comprehensive Income related to derivative instruments designated as cash flow hedges: Year Ended December 31, (in millions) 2022 2021 2020 Amount of pre-tax net gains (losses) recognized in OCI ($1,806) ($66) $130 Amount of pre-tax net gains (losses) reclassified from AOCI into interest income (111) 183 184 Amount of pre-tax net gains (losses) reclassified from AOCI into interest expense (4) (48) (35) Using the interest rate curve at December 31, 2022 with respect to cash flow hedge strategies, the Company estimates that approximately $704 million in pre-tax net losses will be reclassified from AOCI to net interest income over the next 12 months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations and the addition of other hedges subsequent to December 31, 2022.
Schedule of effect of derivative Instruments on net income	The following table presents the effect of economic hedges on noninterest income: Amounts Recognized in Noninterest Income for the Year Ended December 31, Affected Line Item in the Consolidated Statements of Operations (in millions) 2022 2021 2020 Economic hedge type: Customer interest rate contracts ($2,027) ($374) $1,234 Foreign exchange and derivative products Derivatives hedging interest rate risk 2,090 401 (1,188) Foreign exchange and derivative products Customer foreign exchange contracts (180) (207) 216 Foreign exchange and derivative products Derivatives hedging foreign exchange risk 313 305 (263) Foreign exchange and derivative products Customer commodity contracts 1,121 779 (9) Foreign exchange and derivative products Derivatives hedging commodity price risk (1,097) (770) 13 Foreign exchange and derivative products Residential loan commitments (284) (208) 179 Mortgage banking fees Derivatives hedging residential loan commitments and mortgage loans held for sale, at fair value 489 152 (50) Mortgage banking fees Derivative contracts used to hedge residential MSRs (313) (150) 311 Mortgage banking fees Total $112 ($72) $443

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan	The following table presents changes in the fair value of the Company’s Pension Plan assets, projected benefit obligation, funded status, and accumulated benefit obligation: Year Ended December 31, Qualified Plans Non-Qualified Plans (in millions) 2022 2021 2022 2021 Fair value of plan assets as of January 1 $1,390 $1,343 $— $— Actual return on plan assets (262) 125 — — Employer contributions — — 8 8 Benefits and administrative expenses paid (76) (78) (8) (8) Fair value of plan assets from Investors acquisition 130 — — — Fair value of plan assets as of December 31 1,182 1,390 — — Projected benefit obligation 868 1,083 94 99 Pension asset (obligation) $314 $307 ($94) ($99) Accumulated benefit obligation $868 $1,083 $94 $99
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	The following table presents the components of net periodic pension (income) cost and other changes in plan assets and benefit obligations recognized in OCI for the Company’s Pension Plans: Year Ended December 31, Qualified Plans Non-Qualified Plans Total (in millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Service cost $3 $3 $3 $— $— $— $3 $3 $3 Interest cost 34 31 37 3 3 3 37 34 40 Expected return on plan assets (93) (85) (82) — — — (93) (85) (82) Amortization of actuarial loss 11 14 14 3 3 3 14 17 17 Settlement — 15 — — — — — 15 — Net periodic pension (income) cost (1) (45) (22) (28) 6 6 6 (39) (16) (22) Net actuarial loss (gain) 71 (73) 29 (19) (1) 8 52 (74) 37 Amortization of net actuarial loss (11) (14) (14) (3) (3) (3) (14) (17) (17) Settlement — (15) — — — — — (15) — Total gain (loss) recognized in other comprehensive income (loss) 60 (102) 15 (22) (4) 5 38 (106) 20 Total (loss) gain recognized in net periodic pension (income) cost and other comprehensive income (loss) $15 ($124) ($13) ($16) $2 $11 ($1) ($122) ($2) other operating expense
Schedule of Expected Benefit Payments	The following table presents the expected future benefit payments for the Company’s Pension Plans: (in millions) Expected benefit payments by fiscal year ending: December 31, 2023 $70 December 31, 2024 71 December 31, 2025 73 December 31, 2026 74 December 31, 2027 75 December 31, 2028 - 2032 369

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of other comprehensive income	The following table presents the changes in the balances, net of income taxes, of each component of AOCI: (in millions) Net Unrealized Gains (Losses) on Derivatives Net Unrealized Gains (Losses) on Debt Securities Employee Benefit Plans Total AOCI Balance at January 1, 2020 $3 $1 ($415) ($411) Other comprehensive income (loss) before reclassifications 97 382 — 479 Amounts reclassified to the Consolidated Statements of Operations (111) (3) (14) (128) Net other comprehensive income (loss) (14) 379 (14) 351 Balance at December 31, 2020 ($11) $380 ($429) ($60) Other comprehensive income (loss) before reclassifications (49) (528) — (577) Amounts reclassified to the Consolidated Statements of Operations (101) (8) 81 (28) Net other comprehensive income (loss) (150) (536) 81 (605) Balance at December 31, 2021 ($161) ($156) ($348) ($665) Other comprehensive income (loss) before reclassifications (1,340) (2,608) (37) (3,985) Amounts reclassified to the Consolidated Statements of Operations 85 (7) 12 90 Net other comprehensive income (loss) (1,255) (2,615) (25) (3,895) Balance at December 31, 2022 ($1,416) ($2,771) ($373) ($4,560) Primary location in the Consolidated Statements of Operations of amounts reclassified from AOCI Net interest income Securities gains, net Other operating expense

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of preferred stock	The following table summarizes the Company’s preferred stock: December 31, 2022 2021 (in millions, except per share and share data) Liquidation value per share Preferred Shares Carrying Amount Preferred Shares Carrying Amount Authorized ($25 par value per share) 100,000,000 100,000,000 Issued and outstanding: Series B $1,000 300,000 $296 300,000 $296 Series C 1,000 300,000 297 300,000 297 Series D 1,000 (1) 300,000 (2) 293 300,000 293 Series E 1,000 (1) 450,000 (3) 437 450,000 437 Series F 1,000 400,000 395 400,000 395 Series G 1,000 300,000 296 300,000 296 Total 2,050,000 $2,014 2,050,000 $2,014 (1) Equivalent to $25 per depositary share. (2) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock. (3) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock. The following table provides information related to the Company’s preferred stock outstanding as of December 31, 2022: Preferred Stock (1) Issue Date Number of Shares Issued Dividend Dates (2) Annual Per Share Dividend Rate Optional Redemption Date (3) Series B May 24, 2018 300,000 Semi-annually beginning January 6, 2019 until July 6, 2023 6.000% until July 6, 2023 July 6, 2023 Quarterly beginning October 6, 2023 3 Mo. LIBOR plus 3.003% beginning July 6, 2023 Series C October 25, 2018 300,000 Quarterly beginning January 6, 2019 until April 6, 2024 6.375% until April 6, 2024 April 6, 2024 Quarterly beginning July 6, 2024 3 Mo. LIBOR plus 3.157% beginning April 6, 2024 Series D January 29, 2019 300,000 (4) Quarterly beginning April 6, 2019 until April 6, 2024 6.350% until April 6, 2024 April 6, 2024 Quarterly beginning July 6, 2024 3 Mo. LIBOR plus 3.642% beginning April 6, 2024 Series E October 28, 2019 450,000 (5) Quarterly beginning January 6, 2020 5.000% January 6, 2025 Series F June 4, 2020 400,000 Quarterly beginning October 6, 2020 until October 6, 2025 5.650% until October 6, 2025 October 6, 2025 Quarterly beginning January 6, 2026 5 Yr. US Treasury rate plus 5.313% beginning October 6, 2025 Series G June 11, 2021 300,000 Quarterly beginning October 6, 2021 until October 6, 2026 4.000% until October 6, 2026 October 6, 2026 Quarterly beginning January 6, 2027 5 Yr. US Treasury rate plus 3.215% beginning October 6, 2026 (1) Series B through D are non-cumulative fixed-to-floating rate perpetual preferred stock, Series E is non-cumulative fixed-rate perpetual preferred stock, and Series F and G are non-cumulative fixed-rate reset perpetual preferred stock. Except in limited circumstances, each series of preferred stock does not have voting rights. (2) Dividends are payable when declared by the Company’s Board of Directors or an authorized committee thereof. (3) Redeemable at the Company’s option, in whole or in part, on any dividend payment date on or after the date stated, or in whole but not in part, at any time within 90 days following a regulatory capital treatment event as defined in the applicable certificate of designations, in each case at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Under current rules, any redemption is subject to approval by the FRB. (4) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock. (5) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock.
Schedule of dividends	Year Ended December 31, 2022 2021 2020 (in millions, except per share data) Dividends Declared per Share Dividends Declared Dividends Paid Dividends Declared per Share Dividends Declared Dividends Paid Dividends Declared per Share Dividends Declared Dividends Paid Common stock $1.62 $779 $779 $1.56 $670 $670 $1.56 $672 $672 Preferred stock Series A $— $— $— $20.99 $5 $8 $62.59 $15 $13 Series B 60.00 18 18 60.00 18 18 60.00 18 18 Series C 63.75 19 19 63.75 19 19 63.75 19 19 Series D 63.50 19 19 63.50 18 18 63.50 19 19 Series E 50.00 22 22 50.00 23 23 50.00 23 21 Series F 56.50 23 23 56.50 23 23 33.27 13 8 Series G 40.00 12 12 22.78 7 4 — — — Total preferred stock $113 $113 $113 $113 $107 $98

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Share-Based Plans Activity	The following table presents the activity related to the Company’s restricted stock unit activity: Year Ended December 31, 2022 2021 2020 Units Weighted-Average Grant Price Units Weighted-Average Grant Price Units Weighted-Average Grant Price Outstanding, January 1 3,502,956 $38.23 3,496,231 $34.37 3,000,224 $36.71 Assumed — — 82,013 49.95 — — Granted 1,844,352 48.12 1,417,370 44.97 1,947,902 32.64 Vested & Distributed (1,359,543) 37.47 (1,400,722) 38.88 (1,384,091) 38.59 Forfeited (111,164) 43.36 (91,936) 35.00 (67,804) 35.89 Outstanding, December 31 3,876,601 $43.06 3,502,956 $38.23 3,496,231 $34.37

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of outstanding off balance sheet arrangements	A summary of outstanding off-balance sheet arrangements is presented below: December 31, (in millions) 2022 2021 Commitments to extend credit $96,076 $84,206 Letters of credit 2,119 1,998 Risk participation agreements 4 39 Loans sold with recourse 92 82 Marketing rights 23 26 Total $98,314 $86,351

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Summary of difference between aggregated fair value and unpaid principal balance of loans held for sale	The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of LHFS measured at fair value: December 31, 2022 December 31, 2021 (in millions) Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Greater (Less) Than Aggregate Unpaid Principal Aggregate Fair Value Aggregate Unpaid Principal Aggregate Fair Value Greater (Less) Than Aggregate Unpaid Principal Residential mortgage loans held for sale, at fair value $666 $656 $10 $2,657 $2,591 $66 Commercial and industrial, and commercial real estate loans held for sale, at fair value 108 127 (19) 76 79 (3)
Assets and liabilities measured on recurring basis	The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at December 31, 2022: (in millions) Total Level 1 Level 2 Level 3 Debt securities available for sale: Mortgage-backed securities $19,313 $— $19,313 $— Collateralized loan obligations 1,206 — 1,206 — State and political subdivisions 2 — 2 — U.S. Treasury and other 3,486 3,486 — — Total debt securities available for sale 24,007 3,486 20,521 — Loans held for sale, at fair value: Residential loans held for sale 666 — 666 — Commercial loans held for sale 108 — 108 — Total loans held for sale, at fair value 774 — 774 — Mortgage servicing rights 1,530 — — 1,530 Derivative assets: Interest rate contracts 347 — 347 — Foreign exchange contracts 527 — 527 — Commodities contracts 953 — 953 — TBA contracts 7 — 7 — Other contracts 5 — — 5 Total derivative assets 1,839 — 1,834 5 Equity securities, at fair value (1) 110 110 — — Total assets $28,260 $3,596 $23,129 $1,535 Derivative liabilities: Interest rate contracts $1,632 $— $1,632 $— Foreign exchange contracts 519 — 519 — Commodities contracts 942 — 942 — TBA contracts 14 — 14 — Other contracts 4 — — 4 Total derivative liabilities 3,111 — 3,107 4 Total liabilities $3,111 $— $3,107 $4 (1) Excludes investments of $43 million included in other assets in the Consolidated Balance Sheets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient. These nonredeemable investments include capital contributions to private investment funds and have unfunded capital commitments of $42 million at December 31, 2022, which may be called at any time during prescribed time periods. The credit exposure is generally limited to the carrying amount of investments made and unfunded capital commitments. The following table presents assets and liabilities measured at fair value, including gross derivative assets and liabilities, on a recurring basis at December 31, 2021: (in millions) Total Level 1 Level 2 Level 3 Debt securities available for sale: Mortgage-backed securities $24,847 $— $24,847 $— Collateralized loan obligations 1,207 — 1,207 — State and political subdivisions 2 — 2 — U.S. Treasury and other 11 11 — — Total debt securities available for sale 26,067 11 26,056 — Loans held for sale, at fair value: Residential loans held for sale 2,657 — 2,657 — Commercial loans held for sale 76 — 76 — Total loans held for sale, at fair value 2,733 — 2,733 — Mortgage servicing rights 1,029 — — 1,029 Derivative assets: Interest rate contracts 692 — 692 — Foreign exchange contracts 263 — 263 — Commodities contracts 508 — 508 — TBA contracts 8 — 8 — Other contracts 38 — — 38 Total derivative assets 1,509 — 1,471 38 Equity securities, at fair value (1) 102 95 7 — Total assets $31,440 $106 $30,267 $1,067 Derivative liabilities: Interest rate contracts $176 $— $176 $— Foreign exchange contracts 231 — 231 — Commodities contracts 505 — 505 — TBA contracts 8 — 8 — Other contracts 2 — 2 — Total derivative liabilities 922 — 922 — Total liabilities $922 $— $922 $— (1) Excludes investments of $7 million that are measured at fair value using the net asset value per share (or its equivalent) practical expedient.
Assets measured at fair value on recurring basis	The following table presents a roll forward of the balance sheet amounts for assets measured at fair value on a recurring basis and classified as Level 3: For the Year Ended December 31, 2022 2021 (in millions) Mortgage Servicing Rights Other Derivative Contracts Mortgage Servicing Rights Other Derivative Contracts Beginning balance $1,029 $38 $658 $197 Issuances 279 93 419 377 Acquisitions (1) 16 — — — Settlements (2) (137) 154 (212) (328) Changes in fair value during the period recognized in earnings (3) 343 (284) 164 (208) Ending balance $1,530 $1 $1,029 $38 (1) Represents MSRs acquired as part of the Investors acquisition. (2) For MSRs, represents changes in value of the MSRs due to i) passage of time including the impact from both regularly scheduled loan principal payments and partial paydowns, and ii) loans that paid off during the period. For other derivative contracts, represents the closeout of an interest rate lock commitment. (3) Represents changes in value primarily driven by market conditions. These changes are recorded in mortgage banking fees in the Consolidated Statements of Operations. The following table presents quantitative information about the Company’s Level 3 assets, including the range and weighted-average of the significant unobservable inputs used to fair value these assets, as well as valuation techniques used. As of December 31, 2022 Valuation Technique Unobservable Input Range (Weighted Average) Mortgage servicing rights Discounted Cash Flow Constant prepayment rate 6.19-17.80% CPR (6.80% CPR) Option adjusted spread 398-1,058 bps (629 bps) Other derivative contracts Internal Model Pull through rate 28.62-99.90% (83.71%) MSR value (1.60)-144.84 bps (95.80 bps)
Gains (losses) on assets and liabilities measured on a nonrecurring basis included in earnings	The following table presents losses on assets measured at fair value on a nonrecurring basis and recorded in earnings: Year Ended December 31, (in millions) 2022 2021 2020 Collateral-dependent loans ($4) ($27) ($82)
Fair value of assets and liabilities measured on a nonrecurring basis	The following table presents assets measured at fair value on a nonrecurring basis: December 31, 2022 December 31, 2021 (in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Collateral-dependent loans $582 $— $582 $— $645 $— $645 $—
Assets and liabilities measured at fair value	The following tables present the estimated fair value for financial instruments not recorded at fair value in the Consolidated Financial Statements. The carrying amounts are recorded in the Consolidated Balance Sheets under the indicated captions: December 31, 2022 Total Level 1 Level 2 Level 3 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial assets: Debt securities held to maturity $9,834 $9,042 $— $— $9,253 $8,506 $581 $536 Other loans held for sale 208 208 — — — — 208 208 Loans and leases 156,662 151,601 — — 582 582 156,080 151,019 Other assets 1,058 1,058 — — 1,038 1,038 20 20 Financial liabilities: Deposits 180,724 180,566 — — 180,724 180,566 — — Short-term borrowed funds 3 3 — — 3 3 — — Long-term borrowed funds 15,887 15,469 — — 15,887 15,469 — — December 31, 2021 Total Level 1 Level 2 Level 3 (in millions) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial assets: Debt securities held to maturity $2,242 $2,289 $— $— $1,505 $1,557 $737 $732 Other loans held for sale 735 735 — — — — 735 735 Loans and leases 128,163 128,156 — — 645 645 127,518 127,511 Other assets 624 624 — — 609 609 15 15 Financial liabilities: Deposits 154,361 154,366 — — 154,361 154,366 — — Short-term borrowed funds 74 74 — — 74 74 — — Long-term borrowed funds 6,932 7,188 — — 6,932 7,188 — —

NONINTEREST INCOME (Tables)

NONINTEREST INCOME (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Components of revenue from contracts with customers	The following table presents the components of revenue from contracts with customers disaggregated by revenue stream and business operating segment: Year Ended December 31, 2022 (in millions) Consumer Banking Commercial Banking Other Consolidated Service charges and fees $291 $124 $3 $418 Card fees 228 43 — 271 Capital markets fees — 341 — 341 Trust and investment services fees 249 1 — 250 Other banking fees 1 17 1 19 Total revenue from contracts with customers $769 $526 $4 $1,299 Total revenue from other sources (1) 294 319 97 710 Total noninterest income $1,063 $845 $101 $2,009 Year Ended December 31, 2021 (in millions) Consumer Banking Commercial Banking Other Consolidated Service charges and fees $302 $105 $— $407 Card fees 216 32 — 248 Capital markets fees — 419 — 419 Trust and investment services fees 239 — — 239 Other banking fees — 12 — 12 Total revenue from contracts with customers $757 $568 $— $1,325 Total revenue from other sources (1) 466 241 103 810 Total noninterest income $1,223 $809 $103 $2,135 Year Ended December 31, 2020 (in millions) Consumer Banking Commercial Banking Other Consolidated Service charges and fees $301 $100 $— $401 Card fees 185 31 — 216 Capital markets fees — 249 — 249 Trust and investment services fees 203 — — 203 Other banking fees 1 10 — 11 Total revenue from contracts with customers $690 $390 $— $1,080 Total revenue from other sources (1) 965 205 69 1,239 Total noninterest income $1,655 $595 $69 $2,319 (1) Includes bank-owned life insurance income of $88 million, $67 million and $57 million for the years ended December 31, 2022, 2021 and 2020, respectively.

OTHER OPERATING EXPENSE (Tables

OTHER OPERATING EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Schedule of other operating expense	The following table presents the details of other operating expense: Year Ended December 31, (in millions) 2022 2021 2020 Marketing $166 $111 $100 Deposit insurance 96 66 66 Other 323 234 253 Other operating expense $585 $411 $419

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Comprehensive Income Tax	The following table presents total income tax expense: Year Ended December 31, (in millions) 2022 2021 2020 Income tax expense $582 $658 $241 Tax effect of changes in OCI (1,319) (199) 112 Total comprehensive income tax expense (benefit) ($737) $459 $353
Schedule of Components of Income Tax Expense	The following table presents the components of income tax expense: (in millions) Current Deferred Total Year Ended December 31, 2022 U.S. federal $355 $88 $443 State and local 170 (31) 139 Total $525 $57 $582 Year Ended December 31, 2021 U.S. federal $871 ($345) $526 State and local 216 (84) 132 Total $1,087 ($429) $658 Year Ended December 31, 2020 U.S. federal $377 ($181) $196 State and local 102 (57) 45 Total $479 ($238) $241
Schedule of Effective Income Tax Rate Reconciliation	The following table presents a reconciliation between the U.S. federal income tax rate and the Company’s effective income tax rate: Year Ended December 31, 2022 2021 2020 (in millions, except ratio data) Amount Rate Amount Rate Amount Rate U.S. federal income tax expense and tax rate $558 21.0 % $625 21.0 % $273 21.0 % Increase (decrease) resulting from: State and local income taxes (net of federal benefit) 133 5.0 126 4.2 54 4.2 Bank-owned life insurance (19) (0.7) (14) (0.5) (12) (0.9) Tax-exempt interest (8) (0.3) (7) (0.2) (10) (0.7) Tax advantaged investments (including related credits) (102) (3.8) (95) (3.2) (68) (5.3) Other tax credits (9) (0.3) (7) (0.2) (6) (0.5) Adjustments for uncertain tax positions 1 — 3 0.1 (1) (0.1) Non-deductible FDIC premiums 20 0.7 14 0.5 14 1.1 Legacy tax matters 3 0.1 — — (4) (0.3) Other 5 0.2 13 0.4 1 — Total income tax expense and tax rate $582 21.9 % $658 22.1 % $241 18.5 %
Schedule of Deferred Tax Assets and Liabilities	The following table presents the tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities: December 31, (in millions) 2022 2021 Deferred tax assets: Other comprehensive income $1,546 $227 Allowance for credit losses 511 448 Federal and state net operating and capital loss carryforwards 77 50 Accrued expenses not currently deductible 863 676 Investment and other tax credit carryforwards 131 110 Other 19 — Total deferred tax assets 3,147 1,511 Valuation allowance (133) (103) Deferred tax assets, net of valuation allowance 3,014 1,408 Deferred tax liabilities: Leasing transactions 287 331 Amortization of intangibles 413 379 Depreciation 470 256 Pension and other employee compensation plans 128 132 Partnerships 87 95 Deferred Income 12 85 MSRs 203 130 Total deferred tax liabilities 1,600 1,408 Net deferred tax asset (liability) $1,414 $—
Schedule of Unrecognized Tax Benefits Roll Forward	The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits: December 31, (in millions) 2022 2021 2020 Balance at the beginning of the year $7 $4 $5 Gross increase for tax positions related to current year — 1 — Gross increase for tax positions related to prior years — 3 — Decrease for tax positions as a result of the lapse of the statutes of limitations — (1) (1) Decrease for tax positions related to settlements with taxing authorities (1) — — Balance at end of year $6 $7 $4

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of earnings per share	Year Ended December 31, (in millions, except share and per share data) 2022 2021 2020 Numerator (basic and diluted): Net income $2,073 $2,319 $1,057 Less: Preferred stock dividends 113 113 107 Net income available to common stockholders $1,960 $2,206 $950 Denominator: Weighted-average common shares outstanding - basic 475,959,815 425,669,451 427,062,537 Dilutive common shares: share-based awards 1,843,327 1,766,367 1,095,243 Weighted-average common shares outstanding - diluted 477,803,142 427,435,818 428,157,780 Earnings per common share: Basic $4.12 $5.18 $2.22 Diluted (1) 4.10 5.16 2.22 (1) Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. Excluded from the computation of diluted EPS were weighted average antidilutive shares totaling 949,606, 2,929 and 1,338,130 for the years ended December 31, 2022, 2021 and 2020, respectively.

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2022
Mortgage Banking [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	The following table presents the capital ratios for the Company and CBNA under the U.S. Basel III Standardized rules. The Company and CBNA have both declared as an “AOCI opt-out” institution, which means they are not required to recognize the AOCI impact of net unrealized gains and losses on debt securities and accumulated net gains and losses on cash flow hedges and certain defined benefit pension plan assets in regulatory capital. In addition, both entities elected to delay the estimated impact of CECL on regulatory capital for a two-year period ending December 31, 2021, followed by a three-year transition period ending December 31, 2024, to phase-in the aggregate amount of the capital benefit provided during the initial two-year delay. Actual Required Minimum Capital (in millions, except ratio data) Amount Ratio Amount Ratio (1) As of December 31, 2022 CET1 capital CFG $18,574 10.0 % $14,633 7.9 % CBNA 20,669 11.2 12,935 7.0 Tier 1 capital CFG 20,588 11.1 17,411 9.4 CBNA 20,669 11.2 15,706 8.5 Total capital CFG 23,755 12.8 21,116 11.4 CBNA 23,534 12.7 19,402 10.5 Tier 1 leverage CFG 20,588 9.3 8,831 4.0 CBNA 20,669 9.4 8,807 4.0 As of December 31, 2021 CET1 capital CFG $15,656 9.9 % $12,548 7.9 % CBNA 17,039 10.7 11,099 7.0 Tier 1 capital CFG 17,670 11.1 14,930 9.4 CBNA 17,039 10.7 13,477 8.5 Total capital CFG 20,244 12.7 18,107 11.4 CBNA 19,600 12.4 16,648 10.5 Tier 1 leverage CFG 17,670 9.7 7,272 4.0 CBNA 17,039 9.4 7,251 4.0 (1) Represents minimum requirement under the current capital framework plus the SCB of 3.4% and CCB of 2.5% for CFG and CBNA, respectively. The SCB and CCB are not applicable to the Tier 1 leverage ratio.

BUSINESS OPERATING SEGMENTS (Ta

BUSINESS OPERATING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of segment reporting information	As of and for the Year Ended December 31, 2022 (in millions) Consumer Banking Commercial Banking Other Consolidated Net interest income $4,043 $2,103 ($134) $6,012 Noninterest income 1,063 845 101 2,009 Total revenue 5,106 2,948 (33) 8,021 Noninterest expense 3,391 1,223 278 4,892 Profit (loss) before provision (benefit) for credit losses 1,715 1,725 (311) 3,129 Provision (benefit) for credit losses 226 46 202 474 Income (loss) before income tax expense (benefit) 1,489 1,679 (513) 2,655 Income tax expense (benefit) 381 375 (174) 582 Net income (loss) $1,108 $1,304 ($339) $2,073 Total average assets $86,147 $74,919 $53,995 $215,061 As of and for the Year Ended December 31, 2021 (in millions) Consumer Banking Commercial Banking Other Consolidated Net interest income $3,562 $1,706 ($756) $4,512 Noninterest income 1,223 809 103 2,135 Total revenue 4,785 2,515 (653) 6,647 Noninterest expense 2,987 973 121 4,081 Profit (loss) before provision (benefit) for credit losses 1,798 1,542 (774) 2,566 Provision (benefit) for credit losses 185 156 (752) (411) Income (loss) before income tax expense (benefit) 1,613 1,386 (22) 2,977 Income tax expense (benefit) 410 300 (52) 658 Net income (loss) $1,203 $1,086 $30 $2,319 Total average assets $75,509 $57,617 $51,980 $185,106 As of and for the Year Ended December 31, 2020 (in millions) Consumer Banking Commercial Banking Other Consolidated Net interest income $3,311 $1,643 ($368) $4,586 Noninterest income 1,655 595 69 2,319 Total revenue 4,966 2,238 (299) 6,905 Noninterest expense 2,964 860 167 3,991 Profit (loss) before provision (benefit) for credit losses 2,002 1,378 (466) 2,914 Provision (benefit) for credit losses 288 398 930 1,616 Income (loss) before income tax expense (benefit) 1,714 980 (1,396) 1,298 Income tax expense (benefit) 429 206 (394) 241 Net income (loss) $1,285 $774 ($1,002) $1,057 Total average assets $72,022 $60,839 $43,581 $176,442

PARENT COMPANY FINANCIALS (Tabl

PARENT COMPANY FINANCIALS (Tables)	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Condensed Statements of Operations	Condensed Statements of Operations Year Ended December 31, (in millions) 2022 2021 2020 OPERATING INCOME: Income from bank subsidiaries, excluding equity in undistributed income: Dividends $450 $1,120 $900 Interest 39 35 42 Management and service fees 69 64 54 Income from nonbank subsidiaries, excluding equity in undistributed income: Dividends 43 57 40 Interest 3 2 4 All other operating income 1 1 1 Total operating income 605 1,279 1,041 OPERATING EXPENSE: Salaries and employee benefits 43 36 27 Interest expense 125 119 120 All other expenses 28 28 30 Total operating expense 196 183 177 Income (loss) before taxes and undistributed income 409 1,096 864 Income tax expense (benefit) (13) (16) (16) Income before undistributed income of subsidiaries 422 1,112 880 Equity in undistributed income (losses) of subsidiaries: Bank 1,724 1,188 170 Nonbank (73) 19 7 Net income $2,073 $2,319 $1,057 Total other comprehensive income (loss), net of income taxes (1) (3,895) (605) 351 Total comprehensive income (loss) ($1,822) $1,714 $1,408 (1) See Consolidated Statements of Comprehensive Income for comprehensive income (loss) detail.
Condensed Balance Sheets	Condensed Balance Sheets (in millions) December 31, 2022 December 31, 2021 ASSETS: Cash and due from banks $1,821 $2,266 Loans and advances to: Bank subsidiary 1,153 1,148 Nonbank subsidiaries 135 150 Investments in subsidiaries: Bank subsidiary 23,674 22,742 Nonbank subsidiaries 302 325 Other assets 182 140 Total assets $27,267 $26,771 LIABILITIES: Long-term borrowed funds $3,336 $3,099 Other liabilities 241 252 Total liabilities 3,577 3,351 Total stockholders’ equity 23,690 23,420 Total liabilities and stockholders’ equity $27,267 $26,771
Condensed Cash Flow Statements	Condensed Cash Flow Statements Year Ended December 31, (in millions) 2022 2021 2020 OPERATING ACTIVITIES Net income $2,073 $2,319 $1,057 Adjustments to reconcile net income to net change in cash due to operating activities: Deferred income taxes (11) — 17 Equity in undistributed income of subsidiaries (1,651) (1,207) (177) Net increase (decrease) in other liabilities (7) 34 43 Net (increase) decrease in other assets (44) 12 (41) Other operating, net 92 67 48 Net change due to operating activities 452 1,225 947 INVESTING ACTIVITIES Investments in and advances to subsidiaries (156) (196) (190) Repayment of investments in and advances to subsidiaries 121 125 205 Acquisitions, net of cash acquired (23) (165) — Other investing, net (1) (1) (1) Net change due to investing activities (59) (237) 14 FINANCING ACTIVITIES Proceeds from issuance of long-term borrowed funds 414 — 1,053 Repayments of long-term borrowed funds (182) (350) (12) Treasury stock purchased (153) (295) (270) Net proceeds from issuance of preferred stock — 296 395 Redemption of preferred stock — (250) — Dividends declared and paid to common stockholders (779) (670) (672) Dividends declared and paid to preferred stockholders (113) (113) (98) Other financing, net (25) (20) (95) Net change due to financing activities (838) (1,402) 301 Net change in cash and due from banks (445) (414) 1,262 Cash and due from banks at beginning of year 2,266 2,680 1,418 Cash and due from banks at end of year $1,821 $2,266 $2,680

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ / shares in Units, $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
	Apr. 06, 2022 USD ($) branch segment $ / shares shares	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Feb. 18, 2022 USD ($) branch
Business Acquisition [Line Items]
Goodwill			$ 8,173	$ 8,173	$ 7,116	$ 7,050
Business operating segments | segment	2			2
Credit mark on PCD loans	$ 101
Income before income tax expense				$ 2,655	2,977	1,298
Cumulative costs incurred in connection with acquisition		$ 13
Allowance on PCD loans and leases at acquisition				101
Provision expense (benefit) for loans and leases				$ 394	$ (360)	$ 1,431
Financial Asset Acquired and No Credit Deterioration
Business Acquisition [Line Items]
Provision expense (benefit) for loans and leases			$ 145
Online Deposit Business And 80 East Coast Branches Of HSBC Bank
Business Acquisition [Line Items]
Deposits							$ 6,300
Loans receivable, net							1,500
Goodwill							$ 120
Online Deposit Business And 80 East Coast Branches Of HSBC Bank | New York City Metro
Business Acquisition [Line Items]
Number of branches acquired | branch							66
Online Deposit Business And 80 East Coast Branches Of HSBC Bank | Mid-Atlantic/Washington D.C.
Business Acquisition [Line Items]
Number of branches acquired | branch							9
Online Deposit Business And 80 East Coast Branches Of HSBC Bank | Southeast Florida
Business Acquisition [Line Items]
Number of branches acquired | branch							5
Investors Acquisition
Business Acquisition [Line Items]
Number of branches acquired | branch	154
Goodwill	$ 873
Number of shares issued for acquisition | shares	73,600,000
Cash consideration, in dollars per share for each share of investors stock (in dollars per share) | $ / shares	$ 1.46
Stock options granted (in shares) | shares	1,151,301
Accretable discount on PCD loans	$ 320
Accretable discount on PCD loans, interest rate mark	179
Accretable discount on non-PCD loans, credit mark	141
Intangible asset, amortization period				10 years
Allowance on PCD loans and leases at acquisition	101
Fair value of acquired receivables	20,139
Unpaid principal balance of acquired receivables	20,560
Investors Acquisition | Acquisition-related Costs
Business Acquisition [Line Items]
Income before income tax expense				$ 335
Provision expense (benefit) for loans and leases				$ 145
Investors Acquisition | Financial Asset Acquired and No Credit Deterioration
Business Acquisition [Line Items]
Fair value of acquired receivables	15,600
Unpaid principal balance of acquired receivables	15,900
Investors Acquisition | Financial Asset Acquired with Credit Deterioration
Business Acquisition [Line Items]
Fair value of acquired receivables	4,500
Unpaid principal balance of acquired receivables	$ 4,700
Investors Acquisition | Restricted Stock
Business Acquisition [Line Items]
Awards granted (in shares) | shares	259,316
Investors Acquisition | Common Stock
Business Acquisition [Line Items]
Stock consideration (in dollars per each share) | $ / shares	$ 0.297

ACQUISITIONS - Investors Acquis

ACQUISITIONS - Investors Acquisition (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Apr. 06, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liabilities assumed
Goodwill		$ 8,173	$ 7,116	$ 7,050
Investors Acquisition
Consideration
CFG common shares issued (in shares)	73,600,000
Cash paid	$ 355	355
Consideration related to equity awards	19
Fair value of merger consideration	3,410
Assets acquired
Cash and equivalents	287	$ 287
Investment securities	3,826
Loans held for sale	2,162
Net loans and leases	20,139
Premises and equipment	62
Core deposit intangible and other intangible assets	119
Other assets	924
Total assets acquired	27,519
Liabilities assumed
Deposits	20,217
Borrowed funds	4,097
Other liabilities	668
Total liabilities assumed	24,982
Less: Net assets	2,537
Goodwill	$ 873
Investors Acquisition | Common Stock
Consideration
CFG common shares issued (in shares)	72,148,855
CFG share price on April 6, 2022 (in dollars per share)	$ 42.08
Fair value of consideration for outstanding common stock	$ 3,036

ACQUISITIONS - Schedule of Fair

ACQUISITIONS - Schedule of Fair Value and Unpaid Principal Balance of Loans Acquired (Details) - Investors Acquisition $ in Millions	Apr. 06, 2022 USD ($)
Business Acquisition [Line Items]
Unpaid Principal Balance	$ 20,560
Fair Value	20,139
Commercial
Business Acquisition [Line Items]
Unpaid Principal Balance	16,340
Fair Value	15,973
Commercial | Commercial and industrial
Business Acquisition [Line Items]
Unpaid Principal Balance	3,021
Fair Value	2,899
Commercial | Commercial real estate
Business Acquisition [Line Items]
Unpaid Principal Balance	13,310
Fair Value	13,065
Commercial | Leases
Business Acquisition [Line Items]
Unpaid Principal Balance	9
Fair Value	9
Retail
Business Acquisition [Line Items]
Unpaid Principal Balance	4,220
Fair Value	4,166
Retail | Residential mortgages
Business Acquisition [Line Items]
Unpaid Principal Balance	3,949
Fair Value	3,889
Retail | Home equity
Business Acquisition [Line Items]
Unpaid Principal Balance	267
Fair Value	273
Retail | Other retail
Business Acquisition [Line Items]
Unpaid Principal Balance	4
Fair Value	$ 4

ACQUISITIONS - Schedule of Fina

ACQUISITIONS - Schedule of Financial Results of Investors (Details) - Investors Acquisition $ in Millions	9 Months Ended
	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Net income	$ 287
Net interest income
Business Acquisition [Line Items]
Net income	627
Noninterest income
Business Acquisition [Line Items]
Net income	$ 37

ACQUISITIONS - Schedule of Pro

ACQUISITIONS - Schedule of Pro Forma Information (Details) - Investors Acquisition - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Net income		$ 2,408	$ 2,376
Share-based compensation	$ 122
Net interest income
Business Acquisition [Line Items]
Net income		6,226	5,342
Noninterest income
Business Acquisition [Line Items]
Net income		$ 2,055	$ 2,168

ACQUISITIONS - Schedule of Acqu

ACQUISITIONS - Schedule of Acquisition and Integration Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Provision for credit losses	$ 394	$ (360)	$ 1,431
Salaries and employee benefits	2,549	2,132	2,123
Outside services	700	595	553
Other operating expense	585	411	419
Total acquisition-related costs	2,655	$ 2,977	$ 1,298
Investors Acquisition | Acquisition-related Costs
Business Acquisition [Line Items]
Provision for credit losses	145
Salaries and employee benefits	83
Outside services	61
Mark-to-market losses on LHFS portfolio	31
Other operating expense	15
Total acquisition-related costs	$ 335

ACQUISITIONS - Schedule of PCD

ACQUISITIONS - Schedule of PCD Activity (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 06, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
ALLL at acquisition		$ (101)
Investors Acquisition
Business Acquisition [Line Items]
Principal balance	$ 4,685
ALLL at acquisition	(101)
Non-credit discount	(72)
Purchase price	$ 4,512

SECURITIES - Narrative (Details

SECURITIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Accrued interest receivable on debt securities	$ 107,000,000	$ 56,000,000
Taxable interest income from investment securities	840,000,000	487,000,000	$ 519,000,000
Offsetting of short-term receivables or payables recognized	$ 0	0
Held-to-maturity, zero expected credit loss, percent of portfolio	94%
Total mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Securitizations of mortgage loans	$ 143,000,000	$ 260,000,000

SECURITIES - Schedule of Invest

SECURITIES - Schedule of Investments (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost		$ 26,458	$ 26,225
Debt Securities Available-for-Sale, Gross Unrealized Gains		11	219
Debt Securities Available-for-Sale, Gross Unrealized Losses		(2,462)	(377)
Debt securities, available for sale, at fair value pledged to creditors	[1]	24,007	26,067
Debt Securities Held-to-Maturity, Amortized Cost	[1]	9,834	2,242
Debt Securities Held-to-Maturity, Gross Unrealized Gain		4	54
Debt Securities Held-to-Maturity, Gross Unrealized Losses		(796)	(7)
Debt Securities Held-to-Maturity, Fair Value	[1]	9,042	2,289
Other investment securities, at cost, carrying value		1,058	624
Other investment securities, at cost, estimated fair value		1,058	624
Equity securities, at fair value, Amortized Cost		153	109
Equity securities, at fair value, Fair Value		153	109
U.S. Treasury and other
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost		3,678	11
Debt Securities Available-for-Sale, Gross Unrealized Gains		1	0
Debt Securities Available-for-Sale, Gross Unrealized Losses		(193)	0
Debt securities, available for sale, at fair value pledged to creditors		3,486	11
State and political subdivisions
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost		2	2
Debt Securities Available-for-Sale, Gross Unrealized Gains		0	0
Debt Securities Available-for-Sale, Gross Unrealized Losses		0	0
Debt securities, available for sale, at fair value pledged to creditors		2	2
Federal agencies and U.S. government sponsored entities
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost		21,250	24,607
Debt Securities Available-for-Sale, Gross Unrealized Gains		10	210
Debt Securities Available-for-Sale, Gross Unrealized Losses		(2,198)	(375)
Debt securities, available for sale, at fair value pledged to creditors		19,062	24,442
Debt Securities Held-to-Maturity, Amortized Cost		9,253	1,505
Debt Securities Held-to-Maturity, Gross Unrealized Gain		4	52
Debt Securities Held-to-Maturity, Gross Unrealized Losses		(751)	0
Debt Securities Held-to-Maturity, Fair Value		8,506	1,557
Other/non-agency
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost		280	397
Debt Securities Available-for-Sale, Gross Unrealized Gains		0	9
Debt Securities Available-for-Sale, Gross Unrealized Losses		(29)	(1)
Debt securities, available for sale, at fair value pledged to creditors		251	405
Total mortgage-backed securities
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost		21,530	25,004
Debt Securities Available-for-Sale, Gross Unrealized Gains		10	219
Debt Securities Available-for-Sale, Gross Unrealized Losses		(2,227)	(376)
Debt securities, available for sale, at fair value pledged to creditors		19,313	24,847
Debt Securities Held-to-Maturity, Amortized Cost		9,253	1,505
Debt Securities Held-to-Maturity, Gross Unrealized Gain		4	52
Debt Securities Held-to-Maturity, Gross Unrealized Losses		(751)	0
Debt Securities Held-to-Maturity, Fair Value		8,506	1,557
Collateralized loan obligations
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost		1,248	1,208
Debt Securities Available-for-Sale, Gross Unrealized Gains		0	0
Debt Securities Available-for-Sale, Gross Unrealized Losses		(42)	(1)
Debt securities, available for sale, at fair value pledged to creditors		1,206	1,207
Asset-backed securities
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items]
Debt Securities Held-to-Maturity, Amortized Cost		581	737
Debt Securities Held-to-Maturity, Gross Unrealized Gain		0	2
Debt Securities Held-to-Maturity, Gross Unrealized Losses		(45)	(7)
Debt Securities Held-to-Maturity, Fair Value		$ 536	$ 732
[1]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.

SECURITIES - Schedule of Availa

SECURITIES - Schedule of Available for Sale Securities Debt Maturities (Details) $ in Millions	Dec. 31, 2022 USD ($)
Amortized Cost:
Amortized Cost, Debt securities available for sale, Maturity of 1 Year or Less	$ 1
Amortized Cost, Debt securities available for sale, Maturity of 1-5 Years	3,263
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	4,477
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	18,717
Amortized Cost, Debt securities available for sale, Total	26,458
Amortized Cost, Debt securities held to maturity, Maturity of 1 Year or Less	0
Amortized Cost, Debt securities held to maturity, Maturity of 1-5 Years	581
Amortized Cost, Debt securities held to maturity, Maturity of 5-10 Years	0
Amortized Cost, Debt securities held to maturity, Maturity After 10 Years	9,253
Amortized Cost, Debt securities held to maturity, Total	9,834
Total amortized cost of debt securities, Maturity of 1 Year or Less	1
Total amortized cost of debt securities, Maturity of 1-5 Years	3,844
Total amortized cost of debt securities, Maturity of 5-10 Years	4,477
Total amortized cost of debt securities, Maturity After 10 Years	27,970
Total amortized cost of debt securities, Total	36,292
Fair Value:
Fair Value, Debt securities available for sale, Maturity of 1 Year or Less	1
Fair Value, Debt securities available for sale, Maturity of 1-5 Years	3,107
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	4,190
Fair Value, Debt securities available for sale, Maturity After 10 Years	16,709
Fair Value, Debt securities available for sale, Total	24,007
Fair Value, Debt securities held to maturity, Maturity of 1 Year or Less	0
Fair Value, Debt securities held to maturity, Maturity of 1-5 Years	536
Fair Value, Debt securities held to maturity, Maturity of 5-10 Years	0
Fair Value, Debt securities held to maturity, Maturity After 10 Years	8,506
Fair Value, Debt securities held to maturity, Total	9,042
Total fair value of debt securities, Maturity of 1 Year or Less	1
Total fair value of debt securities, Maturity of 1-5 Years	3,643
Total fair value of debt securities, Maturity of 5-10 Years	4,190
Total fair value of debt securities, Maturity After 10 Years	25,215
Total fair value of debt securities, Total	33,049
U.S. Treasury and other
Amortized Cost:
Amortized Cost, Debt securities available for sale, Maturity of 1 Year or Less	0
Amortized Cost, Debt securities available for sale, Maturity of 1-5 Years	2,114
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	1,564
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	0
Amortized Cost, Debt securities available for sale, Total	3,678
Fair Value:
Fair Value, Debt securities available for sale, Maturity of 1 Year or Less	0
Fair Value, Debt securities available for sale, Maturity of 1-5 Years	2,010
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	1,476
Fair Value, Debt securities available for sale, Maturity After 10 Years	0
Fair Value, Debt securities available for sale, Total	3,486
State and political subdivisions
Amortized Cost:
Amortized Cost, Debt securities available for sale, Maturity of 1 Year or Less	0
Amortized Cost, Debt securities available for sale, Maturity of 1-5 Years	0
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	0
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	2
Amortized Cost, Debt securities available for sale, Total	2
Fair Value:
Fair Value, Debt securities available for sale, Maturity of 1 Year or Less	0
Fair Value, Debt securities available for sale, Maturity of 1-5 Years	0
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	0
Fair Value, Debt securities available for sale, Maturity After 10 Years	2
Fair Value, Debt securities available for sale, Total	2
Federal agencies and U.S. government sponsored entities
Amortized Cost:
Amortized Cost, Debt securities available for sale, Maturity of 1 Year or Less	1
Amortized Cost, Debt securities available for sale, Maturity of 1-5 Years	1,149
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	2,889
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	17,211
Amortized Cost, Debt securities available for sale, Total	21,250
Amortized Cost, Debt securities held to maturity, Maturity of 1 Year or Less	0
Amortized Cost, Debt securities held to maturity, Maturity of 1-5 Years	0
Amortized Cost, Debt securities held to maturity, Maturity of 5-10 Years	0
Amortized Cost, Debt securities held to maturity, Maturity After 10 Years	9,253
Amortized Cost, Debt securities held to maturity, Total	9,253
Fair Value:
Fair Value, Debt securities available for sale, Maturity of 1 Year or Less	1
Fair Value, Debt securities available for sale, Maturity of 1-5 Years	1,097
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	2,691
Fair Value, Debt securities available for sale, Maturity After 10 Years	15,273
Fair Value, Debt securities available for sale, Total	19,062
Fair Value, Debt securities held to maturity, Maturity of 1 Year or Less	0
Fair Value, Debt securities held to maturity, Maturity of 1-5 Years	0
Fair Value, Debt securities held to maturity, Maturity of 5-10 Years	0
Fair Value, Debt securities held to maturity, Maturity After 10 Years	8,506
Fair Value, Debt securities held to maturity, Total	8,506
Other/non-agency
Amortized Cost:
Amortized Cost, Debt securities available for sale, Maturity of 1 Year or Less	0
Amortized Cost, Debt securities available for sale, Maturity of 1-5 Years	0
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	0
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	280
Amortized Cost, Debt securities available for sale, Total	280
Fair Value:
Fair Value, Debt securities available for sale, Maturity of 1 Year or Less	0
Fair Value, Debt securities available for sale, Maturity of 1-5 Years	0
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	0
Fair Value, Debt securities available for sale, Maturity After 10 Years	251
Fair Value, Debt securities available for sale, Total	251
Collateralized loan obligations
Amortized Cost:
Amortized Cost, Debt securities available for sale, Maturity of 1 Year or Less	0
Amortized Cost, Debt securities available for sale, Maturity of 1-5 Years	0
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	24
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	1,224
Amortized Cost, Debt securities available for sale, Total	1,248
Fair Value:
Fair Value, Debt securities available for sale, Maturity of 1 Year or Less	0
Fair Value, Debt securities available for sale, Maturity of 1-5 Years	0
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	23
Fair Value, Debt securities available for sale, Maturity After 10 Years	1,183
Fair Value, Debt securities available for sale, Total	1,206
Asset-backed securities
Amortized Cost:
Amortized Cost, Debt securities held to maturity, Maturity of 1 Year or Less	0
Amortized Cost, Debt securities held to maturity, Maturity of 1-5 Years	581
Amortized Cost, Debt securities held to maturity, Maturity of 5-10 Years	0
Amortized Cost, Debt securities held to maturity, Maturity After 10 Years	0
Amortized Cost, Debt securities held to maturity, Total	581
Fair Value:
Fair Value, Debt securities held to maturity, Maturity of 1 Year or Less	0
Fair Value, Debt securities held to maturity, Maturity of 1-5 Years	536
Fair Value, Debt securities held to maturity, Maturity of 5-10 Years	0
Fair Value, Debt securities held to maturity, Maturity After 10 Years	0
Fair Value, Debt securities held to maturity, Total	$ 536

SECURITIES - Income Recognized

SECURITIES - Income Recognized from Investment Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Gains on sale of debt securities	$ 13	$ 15	$ 6
Losses	(4)	(5)	(2)
Debt securities gains, net	$ 9	$ 10	$ 4

SECURITIES - Schedule of Securi

SECURITIES - Schedule of Securities Pledged (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Pledged against derivatives, to qualify for fiduciary powers, or to secure public and other deposits as required by law
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities at amortized cost	$ 3,966	$ 4,816
Debt securities at fair value	3,527	4,782
Pledged as collateral for FHLB borrowing capacity
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities at amortized cost	244	325
Debt securities at fair value	217	333
Pledged against repurchase agreements
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities at amortized cost	0	1
Debt securities at fair value	$ 0	$ 1

SECURITIES - Schedule of Inve_2

SECURITIES - Schedule of Investments in Continuous Loss Positions (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value
Less than 12 Months	$ 17,574	$ 14,990
12 Months or Longer	5,634	1,236
Total	23,208	16,226
Gross Unrealized Losses
Less than 12 Months	(1,363)	(322)
12 Months or Longer	(1,099)	(55)
Total	(2,462)	(377)
U.S. Treasury and other
Fair Value
Less than 12 Months	3,356
12 Months or Longer	0
Total	3,356
Gross Unrealized Losses
Less than 12 Months	(193)
12 Months or Longer	0
Total	(193)
Total mortgage-backed securities
Fair Value
Less than 12 Months	13,433	14,254
12 Months or Longer	5,213	1,236
Total	18,646	15,490
Gross Unrealized Losses
Less than 12 Months	(1,144)	(321)
12 Months or Longer	(1,083)	(55)
Total	(2,227)	(376)
Federal agencies and U.S. government sponsored entities
Fair Value
Less than 12 Months	13,353	14,131
12 Months or Longer	5,042	1,236
Total	18,395	15,367
Gross Unrealized Losses
Less than 12 Months	(1,136)	(320)
12 Months or Longer	(1,062)	(55)
Total	(2,198)	(375)
Other/non-agency
Fair Value
Less than 12 Months	80	123
12 Months or Longer	171	0
Total	251	123
Gross Unrealized Losses
Less than 12 Months	(8)	(1)
12 Months or Longer	(21)	0
Total	(29)	(1)
Collateralized loan obligations
Fair Value
Less than 12 Months	785	736
12 Months or Longer	421	0
Total	1,206	736
Gross Unrealized Losses
Less than 12 Months	(26)	(1)
12 Months or Longer	(16)	0
Total	$ (42)	$ (1)

LOANS AND LEASES - Narrative (D

LOANS AND LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest receivable	$ 820	$ 450
Net loans and leases	154,679	126,405
Interest income on direct financing and sales-type leases	46	49	$ 64
Retail | Residential mortgages | Pledged as collateral for FHLB borrowing capacity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net loans and leases	38,400	26,100
Retail and Commercial | Auto, commercial and commercial real estate loans | Notes Payable, Other Payables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net loans and leases	$ 34,800	$ 35,800
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of contract	3 years
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of contract	10 years

LOANS AND LEASES - Summary of L

LOANS AND LEASES - Summary of Loans and Leases Portfolio (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 156,662	$ 128,163
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	82,180	60,350
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	51,836	44,500
Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	28,865	14,264
Commercial | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	1,479	1,586
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	74,482	67,813
Retail | Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	29,921	22,822
Retail | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	14,043	12,015
Retail | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	12,292	14,549
Retail | Education
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	12,808	12,997
Retail | Other retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 5,418	$ 5,430

LOANS AND LEASES - Loans Held F

LOANS AND LEASES - Loans Held For Sale (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	$ 774	$ 2,733
Other loans held for sale	208	735
Retail | Residential loans held for sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	666	2,657
Other loans held for sale	0	0
Commercial | Commercial loans held for sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	108	76
Other loans held for sale	$ 208	$ 735

LOANS AND LEASES - Components o

LOANS AND LEASES - Components of Investments in Leases (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Total future minimum lease rentals	$ 1,193	$ 1,195
Estimated residual value of leased equipment (non-guaranteed)	413	521
Initial direct costs	5	6
Unearned income	(132)	(136)
Total leases	$ 1,479	$ 1,586

LOANS AND LEASES - Maturity of

LOANS AND LEASES - Maturity of Direct Finance Lease (Details) $ in Millions	Dec. 31, 2022 USD ($)
Receivables [Abstract]
2023	$ 334
2024	247
2025	193
2026	144
2027	122
Thereafter	153
Total undiscounted future minimum lease rentals	$ 1,193

ALLOWANCE FOR CREDIT LOSSES, _3

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 01, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Troubled Debt Restructuring [Line Items]
Retained earnings		$ (9,159)	$ (7,978)
Income tax expense		(582)	(658)	$ (241)
Allowance for credit losses		306
Net charge-offs		270	325	693
ACL on PCD loans and leases and unfunded lending commitments at acquisition		102
Provision (benefit) for credit losses		474	(411)	1,616
Loans and leases		156,662	128,163
Mortgage loans collateralized by residential real estate property		250	142
Charge-offs		434	539	843
Unfunded commitments related to TDRs		81	56
Troubled Debt Restructuring
Financing Receivable, Troubled Debt Restructuring [Line Items]
Charge-offs		3	6	51
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13
Financing Receivable, Troubled Debt Restructuring [Line Items]
Retained earnings	$ 337
Income tax expense	114
Allowance for credit losses	$ 451
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Allowance for credit losses, individually evaluated for impairment		5
Net charge-offs		52	164	425
Loans and leases		82,180	60,350
Charge-offs		70	218	437
Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Net charge-offs		218	161	268
Loans and leases		74,482	67,813
Charge-offs		364	321	$ 406
Commercial and industrial | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases		51,836	44,500
Collateral Dependent | Home Equity Loan And Residential Mortgages | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases		561	542
Collateral Dependent | Commercial and industrial | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases		$ 21	$ 103

ALLOWANCE FOR CREDIT LOSSES, _4

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK - Summary of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 06, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period		$ 1,758	$ 2,443	$ 1,252
Allowance on PCD loans and leases at acquisition		101
Charge-offs		(434)	(539)	(843)
Recoveries		164	214	150
Net charge-offs		(270)	(325)	(693)
Provision expense (benefit) for loans and leases		394	(360)	1,431
Allowance for loan and lease losses, end of period		1,983	1,758	2,443
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period		176	227	44
Provision expense (benefit) for unfunded lending commitments		80	(51)	185
Allowance on PCD unfunded lending commitments at acquisition		1
Allowance for unfunded lending commitments, end of period		257	176	227
Total allowance for credit losses, end of period		2,240	1,934	2,670
Investors Acquisition
Allowance for Loan and Lease Losses [Roll Forward]
Allowance on PCD loans and leases at acquisition	$ 101
Online Deposit Business And 80 East Coast Branches Of HSBC Bank And Investors
Allowance for Loan and Lease Losses [Roll Forward]
Provision expense (benefit) for loans and leases		169
Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period		821	1,233	674
Allowance on PCD loans and leases at acquisition		99
Charge-offs		(70)	(218)	(437)
Recoveries		18	54	12
Net charge-offs		(52)	(164)	(425)
Provision expense (benefit) for loans and leases		192	(248)	1,160
Allowance for loan and lease losses, end of period		1,060	821	1,233
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period		153	186	44
Provision expense (benefit) for unfunded lending commitments		53	(33)	145
Allowance on PCD unfunded lending commitments at acquisition		1
Allowance for unfunded lending commitments, end of period		207	153	186
Total allowance for credit losses, end of period		1,267	974	1,419
Commercial | Investors Acquisition
Allowance for Loan and Lease Losses [Roll Forward]
Charge-offs		(34)
Retail
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period		937	1,210	578
Allowance on PCD loans and leases at acquisition		2
Charge-offs		(364)	(321)	(406)
Recoveries		146	160	138
Net charge-offs		(218)	(161)	(268)
Provision expense (benefit) for loans and leases		202	(112)	271
Allowance for loan and lease losses, end of period		923	937	1,210
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period		23	41	0
Provision expense (benefit) for unfunded lending commitments		27	(18)	40
Allowance on PCD unfunded lending commitments at acquisition		0
Allowance for unfunded lending commitments, end of period		50	23	41
Total allowance for credit losses, end of period		$ 973	960	1,251
Cumulative Effect, Period of Adoption, Adjustment | Allowance for loan and lease losses
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period			453
Allowance for loan and lease losses, end of period				453
Cumulative Effect, Period of Adoption, Adjustment | Reserve for unfunded lending commitments
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period				(2)
Cumulative Effect, Period of Adoption, Adjustment | Commercial | Allowance for loan and lease losses
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period			(176)
Allowance for loan and lease losses, end of period				(176)
Cumulative Effect, Period of Adoption, Adjustment | Commercial | Reserve for unfunded lending commitments
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period				(3)
Cumulative Effect, Period of Adoption, Adjustment | Retail | Allowance for loan and lease losses
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period			629
Allowance for loan and lease losses, end of period				629
Cumulative Effect, Period of Adoption, Adjustment | Retail | Reserve for unfunded lending commitments
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period				1
Cumulative Effect, Period Of Adoption, Adjusted Balance | Allowance for loan and lease losses
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period			1,705
Allowance for loan and lease losses, end of period				1,705
Cumulative Effect, Period Of Adoption, Adjusted Balance | Reserve for unfunded lending commitments
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period				42
Cumulative Effect, Period Of Adoption, Adjusted Balance | Commercial | Allowance for loan and lease losses
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period			498
Allowance for loan and lease losses, end of period				498
Cumulative Effect, Period Of Adoption, Adjusted Balance | Commercial | Reserve for unfunded lending commitments
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period				41
Cumulative Effect, Period Of Adoption, Adjusted Balance | Retail | Allowance for loan and lease losses
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period			$ 1,207
Allowance for loan and lease losses, end of period				1,207
Cumulative Effect, Period Of Adoption, Adjusted Balance | Retail | Reserve for unfunded lending commitments
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period				$ 1

ALLOWANCE FOR CREDIT LOSSES, _5

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK - Amortized Cost Basis by Credit Quality Indicator (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 156,662	$ 128,163
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	14,715	13,660
Year two	15,843	6,289
Year three	6,633	7,499
Year four	6,280	4,775
Year five	4,245	2,327
Prior to year five	7,076	3,878
Within the Revolving Period	27,221	21,777
Converted to Term	167	145
Total	82,180	60,350
Commercial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	14,334	13,431
Year two	15,274	6,015
Year three	6,113	6,914
Year four	5,239	4,184
Year five	3,607	2,118
Prior to year five	5,833	3,441
Within the Revolving Period	26,099	20,857
Converted to Term	151	125
Total	76,650	57,085
Commercial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	129	102
Year two	313	128
Year three	225	268
Year four	470	219
Year five	148	71
Prior to year five	269	159
Within the Revolving Period	426	316
Converted to Term	0	1
Total	1,980	1,264
Commercial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	242	125
Year two	240	128
Year three	285	308
Year four	511	350
Year five	449	128
Prior to year five	959	260
Within the Revolving Period	620	530
Converted to Term	14	17
Total	3,320	1,846
Commercial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	10	2
Year two	16	18
Year three	10	9
Year four	60	22
Year five	41	10
Prior to year five	15	18
Within the Revolving Period	76	74
Converted to Term	2	2
Total	230	155
Commercial | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	8,588	10,363
Year two	8,890	3,528
Year three	2,548	3,978
Year four	2,408	2,501
Year five	1,522	1,527
Prior to year five	2,468	2,144
Within the Revolving Period	25,248	20,317
Converted to Term	164	142
Total	51,836	44,500
Commercial | Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	8,304	10,218
Year two	8,469	3,336
Year three	2,224	3,599
Year four	2,074	2,284
Year five	1,334	1,426
Prior to year five	1,952	1,863
Within the Revolving Period	24,211	19,406
Converted to Term	148	122
Total	48,716	42,254
Commercial | Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	124	47
Year two	189	71
Year three	120	155
Year four	74	114
Year five	48	41
Prior to year five	153	64
Within the Revolving Period	364	316
Converted to Term	0	1
Total	1,072	809
Commercial | Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	150	97
Year two	218	112
Year three	203	215
Year four	255	81
Year five	99	50
Prior to year five	349	201
Within the Revolving Period	597	521
Converted to Term	14	17
Total	1,885	1,294
Commercial | Commercial and industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	10	1
Year two	14	9
Year three	1	9
Year four	5	22
Year five	41	10
Prior to year five	14	16
Within the Revolving Period	76	74
Converted to Term	2	2
Total	163	143
Commercial | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	5,860	2,839
Year two	6,581	2,468
Year three	3,830	3,382
Year four	3,764	2,123
Year five	2,594	731
Prior to year five	4,260	1,258
Within the Revolving Period	1,973	1,460
Converted to Term	3	3
Total	28,865	14,264
Commercial | Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	5,767	2,766
Year two	6,442	2,417
Year three	3,639	3,181
Year four	3,066	1,756
Year five	2,145	626
Prior to year five	3,536	1,119
Within the Revolving Period	1,888	1,451
Converted to Term	3	3
Total	26,486	13,319
Commercial | Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	1	45
Year two	119	42
Year three	103	113
Year four	390	100
Year five	99	27
Prior to year five	113	79
Within the Revolving Period	62	0
Converted to Term	0	0
Total	887	406
Commercial | Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	92	27
Year two	18	0
Year three	79	88
Year four	253	267
Year five	350	78
Prior to year five	610	59
Within the Revolving Period	23	9
Converted to Term	0	0
Total	1,425	528
Commercial | Commercial real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0	1
Year two	2	9
Year three	9	0
Year four	55	0
Year five	0	0
Prior to year five	1	1
Within the Revolving Period	0	0
Converted to Term	0	0
Total	67	11
Commercial | Leases
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	267	458
Year two	372	293
Year three	255	139
Year four	108	151
Year five	129	69
Prior to year five	348	476
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,479	1,586
Commercial | Leases | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	263	447
Year two	363	262
Year three	250	134
Year four	99	144
Year five	128	66
Prior to year five	345	459
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,448	1,512
Commercial | Leases | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	4	10
Year two	5	15
Year three	2	0
Year four	6	5
Year five	1	3
Prior to year five	3	16
Within the Revolving Period	0	0
Converted to Term	0	0
Total	21	49
Commercial | Leases | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0	1
Year two	4	16
Year three	3	5
Year four	3	2
Year five	0	0
Prior to year five	0	0
Within the Revolving Period	0	0
Converted to Term	0	0
Total	10	24
Commercial | Leases | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior to year five	0	1
Within the Revolving Period	0	0
Converted to Term	0	0
Total	0	1
Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	11,158	19,683
Year two	18,251	13,715
Year three	11,083	7,020
Year four	5,223	3,366
Year five	2,457	3,083
Prior to year five	9,401	7,094
Within the Revolving Period	15,803	12,688
Converted to Term	1,106	1,164
Total	74,482	67,813
Retail | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	5,421	7,700
Year two	9,071	5,669
Year three	5,519	2,637
Year four	2,432	995
Year five	1,017	1,468
Prior to year five	6,461	4,353
Within the Revolving Period	0	0
Converted to Term	0	0
Total	29,921	22,822
Retail | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	7	0
Year two	9	9
Year three	8	43
Year four	36	66
Year five	57	63
Prior to year five	496	589
Within the Revolving Period	12,340	10,100
Converted to Term	1,090	1,145
Total	14,043	12,015
Retail | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	3,276	7,469
Year two	5,141	3,227
Year three	2,028	2,065
Year four	1,160	1,000
Year five	474	561
Prior to year five	213	227
Within the Revolving Period	0	0
Converted to Term	0	0
Total	12,292	14,549
Retail | Education
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	1,712	3,487
Year two	3,586	3,899
Year three	3,131	1,798
Year four	1,400	1,071
Year five	820	890
Prior to year five	2,159	1,852
Within the Revolving Period	0	0
Converted to Term	0	0
Total	12,808	12,997
Retail | Other retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	742	1,027
Year two	444	911
Year three	397	477
Year four	195	234
Year five	89	101
Prior to year five	72	73
Within the Revolving Period	3,463	2,588
Converted to Term	16	19
Total	5,418	5,430
Greater than 800 | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	3,516	5,912
Year two	8,226	5,833
Year three	5,389	2,735
Year four	2,251	1,170
Year five	924	1,323
Prior to year five	4,340	3,239
Within the Revolving Period	5,449	4,780
Converted to Term	267	281
Total	30,362	25,273
Greater than 800 | Retail | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2,132	2,431
Year two	4,943	3,017
Year three	3,143	1,230
Year four	1,180	342
Year five	363	672
Prior to year five	3,081	2,139
Within the Revolving Period	0	0
Converted to Term	0	0
Total	14,842	9,831
Greater than 800 | Retail | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	4	0
Year two	5	2
Year three	2	5
Year four	5	5
Year five	6	3
Prior to year five	110	134
Within the Revolving Period	4,958	4,394
Converted to Term	267	281
Total	5,357	4,824
Greater than 800 | Retail | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	650	1,887
Year two	1,453	829
Year three	584	538
Year four	324	244
Year five	120	148
Prior to year five	54	57
Within the Revolving Period	0	0
Converted to Term	0	0
Total	3,185	3,703
Greater than 800 | Retail | Education
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	548	1,361
Year two	1,720	1,771
Year three	1,567	840
Year four	694	514
Year five	410	470
Prior to year five	1,068	880
Within the Revolving Period	0	0
Converted to Term	0	0
Total	6,007	5,836
Greater than 800 | Retail | Other retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	182	233
Year two	105	214
Year three	93	122
Year four	48	65
Year five	25	30
Prior to year five	27	29
Within the Revolving Period	491	386
Converted to Term	0	0
Total	971	1,079
740-799 | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	4,305	8,311
Year two	6,084	4,801
Year three	3,557	2,210
Year four	1,539	994
Year five	695	836
Prior to year five	2,422	1,806
Within the Revolving Period	5,324	4,278
Converted to Term	275	280
Total	24,201	23,516
740-799 | Retail | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2,376	4,015
Year two	2,991	1,876
Year three	1,660	746
Year four	638	246
Year five	257	360
Prior to year five	1,635	1,086
Within the Revolving Period	0	0
Converted to Term	0	0
Total	9,557	8,329
740-799 | Retail | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2	0
Year two	2	1
Year three	1	4
Year four	4	5
Year five	6	7
Prior to year five	97	122
Within the Revolving Period	4,350	3,514
Converted to Term	274	278
Total	4,736	3,931
740-799 | Retail | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	962	2,418
Year two	1,606	1,051
Year three	649	615
Year four	343	288
Year five	134	156
Prior to year five	56	58
Within the Revolving Period	0	0
Converted to Term	0	0
Total	3,750	4,586
740-799 | Retail | Education
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	735	1,555
Year two	1,351	1,577
Year three	1,126	672
Year four	486	371
Year five	267	275
Prior to year five	609	514
Within the Revolving Period	0	0
Converted to Term	0	0
Total	4,574	4,964
740-799 | Retail | Other retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	230	323
Year two	134	296
Year three	121	173
Year four	68	84
Year five	31	38
Prior to year five	25	26
Within the Revolving Period	974	764
Converted to Term	1	2
Total	1,584	1,706
680-739 | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2,228	3,842
Year two	2,619	2,114
Year three	1,422	1,193
Year four	790	596
Year five	386	441
Prior to year five	1,311	1,041
Within the Revolving Period	3,289	2,447
Converted to Term	238	248
Total	12,283	11,922
680-739 | Retail | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	769	1,116
Year two	899	572
Year three	502	335
Year four	308	152
Year five	149	172
Prior to year five	851	585
Within the Revolving Period	0	0
Converted to Term	0	0
Total	3,478	2,932
680-739 | Retail | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	1	0
Year two	1	1
Year three	1	7
Year four	6	14
Year five	11	16
Prior to year five	114	134
Within the Revolving Period	2,296	1,738
Converted to Term	234	243
Total	2,664	2,153
680-739 | Retail | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	920	1,968
Year two	1,187	827
Year three	460	500
Year four	254	234
Year five	102	123
Prior to year five	44	48
Within the Revolving Period	0	0
Converted to Term	0	0
Total	2,967	3,700
680-739 | Retail | Education
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	363	512
Year two	423	474
Year three	356	229
Year four	170	140
Year five	103	107
Prior to year five	288	262
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,703	1,724
680-739 | Retail | Other retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	175	246
Year two	109	240
Year three	103	122
Year four	52	56
Year five	21	23
Prior to year five	14	12
Within the Revolving Period	993	709
Converted to Term	4	5
Total	1,471	1,413
620-679 | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	841	1,339
Year two	896	696
Year three	456	517
Year four	336	296
Year five	214	231
Prior to year five	649	523
Within the Revolving Period	993	662
Converted to Term	147	172
Total	4,532	4,436
620-679 | Retail | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	125	111
Year two	168	130
Year three	135	161
Year four	138	93
Year five	99	107
Prior to year five	422	276
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,087	878
620-679 | Retail | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0	0
Year two	1	3
Year three	2	11
Year four	9	19
Year five	16	17
Prior to year five	93	112
Within the Revolving Period	558	363
Converted to Term	143	167
Total	822	692
620-679 | Retail | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	554	1,029
Year two	586	378
Year three	205	257
Year four	133	131
Year five	62	72
Prior to year five	28	32
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,568	1,899
620-679 | Retail | Education
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	54	50
Year two	76	66
Year three	62	45
Year four	38	34
Year five	29	28
Prior to year five	102	99
Within the Revolving Period	0	0
Converted to Term	0	0
Total	361	322
620-679 | Retail | Other retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	108	149
Year two	65	119
Year three	52	43
Year four	18	19
Year five	8	7
Prior to year five	4	4
Within the Revolving Period	435	299
Converted to Term	4	5
Total	694	645
Less than 620 | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	246	225
Year two	423	258
Year three	254	364
Year four	304	310
Year five	236	252
Prior to year five	620	423
Within the Revolving Period	368	191
Converted to Term	178	182
Total	2,629	2,205
Less than 620 | Retail | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	17	24
Year two	68	66
Year three	77	164
Year four	165	162
Year five	147	157
Prior to year five	455	257
Within the Revolving Period	0	0
Converted to Term	0	0
Total	929	830
Less than 620 | Retail | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	0	0
Year two	0	2
Year three	2	16
Year four	12	23
Year five	18	20
Prior to year five	82	87
Within the Revolving Period	178	91
Converted to Term	172	176
Total	464	415
Less than 620 | Retail | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	188	164
Year two	309	142
Year three	130	155
Year four	106	103
Year five	56	62
Prior to year five	31	32
Within the Revolving Period	0	0
Converted to Term	0	0
Total	820	658
Less than 620 | Retail | Education
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	6	5
Year two	16	11
Year three	20	12
Year four	12	12
Year five	11	10
Prior to year five	50	45
Within the Revolving Period	0	0
Converted to Term	0	0
Total	115	95
Less than 620 | Retail | Other retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	35	32
Year two	30	37
Year three	25	17
Year four	9	10
Year five	4	3
Prior to year five	2	2
Within the Revolving Period	190	100
Converted to Term	6	6
Total	301	207
No FICO available | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	22	54
Year two	3	13
Year three	5	1
Year four	3	0
Year five	2	0
Prior to year five	59	62
Within the Revolving Period	380	330
Converted to Term	1	1
Total	475	461
No FICO available | Retail | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2	3
Year two	2	8
Year three	2	1
Year four	3	0
Year five	2	0
Prior to year five	17	10
Within the Revolving Period	0	0
Converted to Term	0	0
Total	28	22
No FICO available | Retail | Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	2	3
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior to year five	0	0
Within the Revolving Period	0	0
Converted to Term	0	0
Total	2	3
No FICO available | Retail | Education
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	6	4
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior to year five	42	52
Within the Revolving Period	0	0
Converted to Term	0	0
Total	48	56
No FICO available | Retail | Other retail
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	12	44
Year two	1	5
Year three	3	0
Year four	0	0
Year five	0	0
Prior to year five	0	0
Within the Revolving Period	380	330
Converted to Term	1	1
Total	$ 397	$ 380

ALLOWANCE FOR CREDIT LOSSES, _6

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK - Accruing and Nonaccruing Past Due Amounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Provision (benefit) for credit losses	$ 474	$ (411)	$ 1,616
Loans and leases	156,662	128,163
Loans and leases, nonaccrual	944	702
Loans and leases, nonaccrual with no related ACL	456	386
Financing Receivables, Current
Financing Receivable, Past Due [Line Items]
Loans and leases	154,527	126,308
Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	598	412
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	226	166
Financing Receivables, 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	367	575
Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	82,180	60,350
Loans and leases, nonaccrual	352	183
Loans and leases, nonaccrual with no related ACL	71	37
Commercial | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	51,836	44,500
Loans and leases, nonaccrual	249	171
Loans and leases, nonaccrual with no related ACL	64	36
Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	28,865	14,264
Loans and leases, nonaccrual	103	11
Loans and leases, nonaccrual with no related ACL	7	1
Commercial | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	1,479	1,586
Loans and leases, nonaccrual	0	1
Loans and leases, nonaccrual with no related ACL	0	0
Commercial | Financing Receivables, Current
Financing Receivable, Past Due [Line Items]
Loans and leases	81,529	60,064
Commercial | Financing Receivables, Current | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	51,389	44,247
Commercial | Financing Receivables, Current | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	28,665	14,247
Commercial | Financing Receivables, Current | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	1,475	1,570
Commercial | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	207	67
Commercial | Financing Receivables, 30 to 59 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	152	47
Commercial | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	51	6
Commercial | Financing Receivables, 30 to 59 Days Past Due | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	4	14
Commercial | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	70	27
Commercial | Financing Receivables, 60 to 89 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	25	26
Commercial | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	45	0
Commercial | Financing Receivables, 60 to 89 Days Past Due | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	0	1
Commercial | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	22	9
Commercial | Financing Receivables, 90 Days or More Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	21	9
Commercial | Financing Receivables, 90 Days or More Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	1	0
Commercial | Financing Receivables, 90 Days or More Past Due | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
Retail
Financing Receivable, Past Due [Line Items]
Loans and leases	74,482	67,813
Loans and leases, nonaccrual	592	519
Loans and leases, nonaccrual with no related ACL	385	349
Retail | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	29,921	22,822
Loans and leases, nonaccrual	234	201
Loans and leases, nonaccrual with no related ACL	187	137
Retail | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	14,043	12,015
Loans and leases, nonaccrual	241	220
Loans and leases, nonaccrual with no related ACL	185	186
Retail | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	12,292	14,549
Loans and leases, nonaccrual	56	55
Loans and leases, nonaccrual with no related ACL	9	22
Retail | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	12,808	12,997
Loans and leases, nonaccrual	33	23
Loans and leases, nonaccrual with no related ACL	3	2
Retail | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	5,418	5,430
Loans and leases, nonaccrual	28	20
Loans and leases, nonaccrual with no related ACL	1	2
Retail | FHA, VA And USDA Loans
Financing Receivable, Past Due [Line Items]
Loans and leases, 90 days or more past due and still accruing	316	544
Retail | Financing Receivables, Current
Financing Receivable, Past Due [Line Items]
Loans and leases	72,998	66,244
Retail | Financing Receivables, Current | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	29,228	21,918
Retail | Financing Receivables, Current | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	13,719	11,745
Retail | Financing Receivables, Current | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	12,039	14,324
Retail | Financing Receivables, Current | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	12,718	12,926
Retail | Financing Receivables, Current | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	5,294	5,331
Retail | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	391	345
Retail | Financing Receivables, 30 to 59 Days Past Due | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	95	102
Retail | Financing Receivables, 30 to 59 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	64	38
Retail | Financing Receivables, 30 to 59 Days Past Due | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	152	131
Retail | Financing Receivables, 30 to 59 Days Past Due | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	36	34
Retail | Financing Receivables, 30 to 59 Days Past Due | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	44	40
Retail | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	156	139
Retail | Financing Receivables, 60 to 89 Days Past Due | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	45	52
Retail | Financing Receivables, 60 to 89 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	19	12
Retail | Financing Receivables, 60 to 89 Days Past Due | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	45	39
Retail | Financing Receivables, 60 to 89 Days Past Due | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	17	13
Retail | Financing Receivables, 60 to 89 Days Past Due | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	30	23
Retail | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	345	566
Retail | Financing Receivables, 90 Days or More Past Due | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	319	549
Retail | Financing Receivables, 90 Days or More Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
Retail | Financing Receivables, 90 Days or More Past Due | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
Retail | Financing Receivables, 90 Days or More Past Due | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	4	1
Retail | Financing Receivables, 90 Days or More Past Due | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 22	$ 16

ALLOWANCE FOR CREDIT LOSSES, _7

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK - Troubled Debt Restructuring Activity (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract	Dec. 31, 2020 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	5,846	5,939	7,559
Amortized Cost	$ 501	$ 468	$ 644
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	68	37	63
Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	124	192	161
Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 309	$ 239	$ 420
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	29	44	71
Amortized Cost	$ 26	$ 167	$ 439
Commercial | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0	0	0
Commercial | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	26	44	114
Commercial | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 0	$ 123	$ 325
Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	29	44	70
Amortized Cost	$ 26	$ 167	$ 432
Commercial | Commercial and industrial | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0	0	0
Commercial | Commercial and industrial | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	26	44	107
Commercial | Commercial and industrial | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 0	$ 123	$ 325
Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract			1
Amortized Cost			$ 7
Commercial | Commercial real estate | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost			0
Commercial | Commercial real estate | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost			7
Commercial | Commercial real estate | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost			$ 0
Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	5,817	5,895	7,488
Amortized Cost	$ 475	$ 301	$ 205
Retail | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	68	37	63
Retail | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	98	148	47
Retail | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 309	$ 116	$ 95
Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	1,884	922	473
Amortized Cost	$ 408	$ 218	$ 86
Retail | Residential mortgages | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	52	21	39
Retail | Residential mortgages | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	96	137	34
Retail | Residential mortgages | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 260	$ 60	$ 13
Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	381	412	723
Amortized Cost	$ 25	$ 29	$ 47
Retail | Home equity | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	4	5	12
Retail | Home equity | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	2	11	12
Retail | Home equity | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 19	$ 13	$ 23
Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	601	1,463	3,236
Amortized Cost	$ 6	$ 17	$ 50
Retail | Automobile | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	2	2	2
Retail | Automobile | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0	0	1
Retail | Automobile | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 4	$ 15	$ 47
Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	631	807	465
Amortized Cost	$ 25	$ 26	$ 10
Retail | Education | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0	0	0
Retail | Education | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0	0	0
Retail | Education | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 25	$ 26	$ 10
Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	2,320	2,291	2,591
Amortized Cost	$ 11	$ 11	$ 12
Retail | Other retail | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	10	9	10
Retail | Other retail | Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0	0	0
Retail | Other retail | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 1	$ 2	$ 2

ALLOWANCE FOR CREDIT LOSSES, _8

ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK - Troubled Debt Restructurings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	$ 242	$ 118	$ 100
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	0	23	54
Retail | Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	242	95	46
Retail | Loans Insured or Guaranteed by US Government Authorities
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	$ 187	$ 61	$ 16

PREMISES, EQUIPMENT, AND SOFT_3

PREMISES, EQUIPMENT, AND SOFTWARE - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capital Leases of Lessee [Abstract]
Depreciation expense	$ 107	$ 98	$ 110
Capitalized Software
Capitalized software, gross	2,600	2,300
Capitalized software, accumulated amortization	1,700	1,500
Amortization of software	$ 243	$ 235	$ 215

PREMISES, EQUIPMENT, AND SOFT_4

PREMISES, EQUIPMENT, AND SOFTWARE - Schedule of Premises and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 1,706	$ 1,572
Accumulated depreciation	(862)	(804)
Total premises and equipment, net	844	768
Land and land improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 144	101
Land and land improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Land and land improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	75 years
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 879	805
Buildings and leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Buildings and leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	60 years
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 622	589
Furniture, fixtures and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	4 years
Furniture, fixtures and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	20 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 61	$ 77

PREMISES, EQUIPMENT, AND SOFT_5

PREMISES, EQUIPMENT, AND SOFTWARE - Schedule of Amortization (Details) $ in Millions	Dec. 31, 2022 USD ($)
Capitalized Software, Expected Future Amortization Expense [Abstract]
2023	$ 226
2024	199
2025	158
2026	90
2027	33
Thereafter	7
Total	713
In-process software	$ 174

MORTGAGE BANKING AND OTHER SE_3

MORTGAGE BANKING AND OTHER SERVICED LOANS - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2022	Dec. 31, 2021
Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
MSR loans	$ 96.7	$ 90.2

MORTGAGE BANKING AND OTHER SE_4

MORTGAGE BANKING AND OTHER SERVICED LOANS - Residential Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash proceeds from residential mortgage loans sold with servicing retained	$ 17,025	$ 37,039	$ 33,221
Repurchased residential mortgages(1)	87	1,381	0
Mortgage Banking Fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales	86	382	895
Contractually specified servicing, late and other ancillary fees	$ 287	$ 247	$ 227

MORTGAGE BANKING AND OTHER SE_5

MORTGAGE BANKING AND OTHER SERVICED LOANS - Changes Related to MSRs - Fair Value Method (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
MSRs
Fair value as of beginning of period	$ 1,029
Fair value at end of the period	1,530	$ 1,029
Residential mortgages
MSRs
Fair value as of beginning of period	1,029	658
Amounts capitalized	279	419
Servicing rights acquired	16	0
Changes in unpaid principal balance during the period	(137)	(212)
Changes in fair value during the period	343	164
Fair value at end of the period	$ 1,530	$ 1,029

MORTGAGE BANKING AND OTHER SE_6

MORTGAGE BANKING AND OTHER SERVICED LOANS - Economic Assumptions Used to Estimate Value of MSRs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract]
Fair value	$ 1,530	$ 1,029
Weighted-average life (in years)	9 years 1 month 6 days	6 years 4 months 24 days
Weighted-average constant prepayment rate	6.80%	10.70%
Weighted average option adjusted spread	6.29%	5.96%
Minimum
Servicing Assets at Fair Value [Line Items]
Sensitivity analysis, basis spread	10%
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract]
Decline in fair value due to 50 bps decrease in prepayment rate	$ 34	$ 45
Decline in fair value due to 50 bps decrease in option adjusted spread	$ 43	25
Maximum
Servicing Assets at Fair Value [Line Items]
Sensitivity analysis, basis spread	20%
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract]
Decline in fair value due to 100 bps decrease in prepayment rate	$ 66	87
Decline in fair value due to 100 bps decrease in option adjusted spread	$ 86	$ 50

MORTGAGE BANKING AND OTHER SE_7

MORTGAGE BANKING AND OTHER SERVICED LOANS - Other Serviced Loans (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Education
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other serviced loans	$ 602	$ 761
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other serviced loans	$ 91	$ 80

MORTGAGE BANKING AND OTHER SE_8

MORTGAGE BANKING AND OTHER SERVICED LOANS - Changes Related to MSRs - Amortization Method (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Education
Servicing Asset at Amortized Cost [Line Items]
Other serviced loans	$ 602	$ 761
Commercial and Industrial
Servicing Asset at Amortized Cost [Line Items]
Other serviced loans	$ 91	$ 80

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 1,019	$ 766
Lessor operating lease assets	$ 260	$ 244
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	10 years

LEASES - Components of Operatin

LEASES - Components of Operating Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 216	$ 161	$ 165
Short-term lease cost	2	1	4
Variable lease cost	7	8	8
Sublease income	(1)	(4)	(4)
Total	$ 224	$ 166	$ 173

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 1,019	$ 766
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating lease liabilities	$ 1,066	$ 800
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Weighted average remaining lease term (years)	7 years	7 years
Weighted average discount rate	2.74%	2.34%

LEASES - Supplemental Lease Inf

LEASES - Supplemental Lease Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases	$ 219	$ 163	$ 167
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets in exchange for new operating lease liabilities	$ 408	$ 79	$ 268

LEASES - Liability Maturity Sch

LEASES - Liability Maturity Schedule (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	$ 207
2024	206
2025	178
2026	142
2027	123
Thereafter	324
Total lease payments	1,180
Less: Interest	114
Present value of lease liabilities	$ 1,066	$ 800

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) reportingUnit	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Goodwill [Line Items]
Number of reporting units | reportingUnit	2
Goodwill impairment	$ 0	$ 0	$ 0
Amortization of intangible assets	41,000,000	11,000,000	$ 11,000,000
Consumer Banking
Goodwill [Line Items]
Goodwill accumulated impairment loss	5,900,000,000	5,900,000,000
Commercial Banking
Goodwill [Line Items]
Goodwill accumulated impairment loss	$ 50,000,000	$ 50,000,000

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Goodwill Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 7,116	$ 7,050
Business acquisitions	1,057	66
Ending balance	8,173	7,116
Consumer Banking
Goodwill [Roll Forward]
Beginning balance	2,258	2,258
Business acquisitions	415	0
Ending balance	2,673	2,258
Commercial Banking
Goodwill [Roll Forward]
Beginning balance	4,858	4,792
Business acquisitions	642	66
Ending balance	$ 5,500	$ 4,858

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Other Intangibles (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ 271	$ 97
Accumulated Amortization	74	33
Net	$ 197	64
Core deposits
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	10 years
Gross	$ 144	0
Accumulated Amortization	20	0
Net	124	0
Core deposits | Investors Acquisition
Finite-Lived Intangible Assets [Line Items]
Gross	97
Core deposits | Online Deposit Business And 80 East Coast Branches Of HSBC Bank
Finite-Lived Intangible Assets [Line Items]
Gross	47
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Gross	23	21
Accumulated Amortization	19	11
Net	4	10
Acquired relationships
Finite-Lived Intangible Assets [Line Items]
Gross	54	53
Accumulated Amortization	21	14
Net	33	39
Naming Rights
Finite-Lived Intangible Assets [Line Items]
Gross	33	10
Accumulated Amortization	7	3
Net	26	7
Naming Rights | Investors Acquisition
Finite-Lived Intangible Assets [Line Items]
Gross	24
Other
Finite-Lived Intangible Assets [Line Items]
Gross	17	13
Accumulated Amortization	7	5
Net	$ 10	$ 8
Minimum | Acquired technology
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	5 years
Minimum | Acquired relationships
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	2 years
Minimum | Naming Rights
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	5 years
Minimum | Other
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	2 years
Maximum | Acquired technology
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	7 years
Maximum | Acquired relationships
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	15 years
Maximum | Naming Rights
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	10 years
Maximum | Other
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	7 years

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Intangible Asset Amortization (Details) $ in Millions	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2023	$ 41
2024	34
2025	31
2026	28
2027	$ 24

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Net loans and leases	$ 154,679,000,000	$ 126,405,000,000
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Net loans and leases	4,578,000,000	2,646,000,000
Net impairment losses recognized in earnings	0	0	$ 0
Variable Interest Entity, Not Primary Beneficiary | Special Purpose Entities
Variable Interest Entity [Line Items]
Net loans and leases	4,600,000,000	2,600,000,000
Commitments to extend credit | Variable Interest Entity, Not Primary Beneficiary | Special Purpose Entities
Variable Interest Entity [Line Items]
Undrawn commitments to extend credit	$ 2,400,000,000	$ 1,900,000,000

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Variable Interest Entities (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Lending to special purpose entities included in loans and leases		$ 154,679	$ 126,405
Other assets		13,089	8,746
LIHTC unfunded commitments included in other liabilities		4,520	3,425
Asset-backed investments included in HTM securities	[1]	9,834	2,242
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Lending to special purpose entities included in loans and leases		4,578	2,646
LIHTC unfunded commitments included in other liabilities		1,046	927
Asset-backed investments included in HTM securities		581	737
Variable Interest Entity, Not Primary Beneficiary | Low Income Housing Tax Credit Partnerships
Variable Interest Entity [Line Items]
Other assets		2,230	1,978
Variable Interest Entity, Not Primary Beneficiary | Renewable Energy Investments
Variable Interest Entity [Line Items]
Other assets		$ 374	$ 429
[1]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.

VARIABLE INTEREST ENTITIES - _2

VARIABLE INTEREST ENTITIES - Schedule of Affordable Housing Tax Credit Investments (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Tax credits included in income tax expense	$ 236	$ 202	$ 159
Other tax benefits included in income tax expense	59	48	38
Total tax benefits included in income tax expense	295	250	197
Less: Amortization included in income tax expense	247	208	168
Net benefit from affordable housing tax credit investments included in income tax expense	$ 48	$ 42	$ 29

DEPOSITS - Major Components of

DEPOSITS - Major Components of Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deposits, by Type [Abstract]
Demand	$ 49,283	$ 49,443
Money market	49,905	47,216
Checking with interest	39,721	30,409
Savings	29,805	22,030
Term	12,010	5,263
Total deposits	$ 180,724	$ 154,361

DEPOSITS - Maturities of Term D

DEPOSITS - Maturities of Term Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Time Deposits, Fiscal Year Maturity [Abstract]
2023	$ 10,723
2024	991
2025	156
2026	74
2027	63
2028 and thereafter	3
Total	$ 12,010	$ 5,263

DEPOSITS - Maturities of Term_2

DEPOSITS - Maturities of Term Deposits Greater than $100,000 (Details) $ in Millions	Dec. 31, 2022 USD ($)
Contractual Maturities, Time Deposits, $100,000 or More [Abstract]
Three months or less	$ 995
After three months through six months	101
After six months through twelve months	630
After twelve months	249
Total term deposits	$ 1,975

BORROWED FUNDS - Short Term Deb

BORROWED FUNDS - Short Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Short-term borrowed funds	$ 3	$ 74
Securities sold under agreements to repurchase
Short-term Debt [Line Items]
Short-term borrowed funds	0	1
Other short-term borrowed funds
Short-term Debt [Line Items]
Short-term borrowed funds	$ 3	$ 73

BORROWED FUNDS - Narrative (Det

BORROWED FUNDS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Short-term borrowed funds	$ 3	$ 74
Hedging basis adjustments	1,839	1,509
Available borrowing capacity	63,300
FHLB advances and letters of credit | Secured Debt
Debt Instrument [Line Items]
Short-term borrowed funds	15,700	2,300
Pledged as collateral for FHLB borrowing capacity
Debt Instrument [Line Items]
Available borrowing capacity	11,500	15,900
Parent company
Debt Instrument [Line Items]
Principal balance	3,400	3,200
Unamortized deferred issuance costs and or discounts	75	80
CBNA and Other Subsidiaries
Debt Instrument [Line Items]
Principal balance	12,600	3,800
Unamortized deferred issuance costs and or discounts	10	7
Hedging basis adjustments	$ (27)	$ 42

BORROWED FUNDS - Long Term Debt

BORROWED FUNDS - Long Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term borrowed funds	$ 15,887	$ 6,932
Parent company
Debt Instrument [Line Items]
Long-term borrowed funds	$ 3,336
Parent company | Subordinated Debt | 4.150% fixed rate subordinated debt, due 2022
Debt Instrument [Line Items]
Interest rate	4.15%
Long-term borrowed funds	$ 0	168
Parent company | Subordinated Debt | 3.750% fixed rate subordinated debt due 2024
Debt Instrument [Line Items]
Interest rate	3.75%
Long-term borrowed funds	$ 90	90
Parent company | Subordinated Debt | 4.023% fixed rate subordinated debt, due 2024
Debt Instrument [Line Items]
Interest rate	4.023%
Long-term borrowed funds	$ 17	17
Parent company | Subordinated Debt | 4.350% fixed rate subordinated debt, due 2025
Debt Instrument [Line Items]
Interest rate	4.35%
Long-term borrowed funds	$ 133	133
Parent company | Subordinated Debt | 4.300% fixed rate subordinated debt, due 2025
Debt Instrument [Line Items]
Interest rate	4.30%
Long-term borrowed funds	$ 336	336
Parent company | Subordinated Debt | 3.750% Fixed Rate Subordinated Debt, Due February 2031
Debt Instrument [Line Items]
Interest rate	3.75%
Long-term borrowed funds	$ 69	69
Parent company | Subordinated Debt | 4.300% Fixed Rate Subordinated Debt, Due February 2031
Debt Instrument [Line Items]
Interest rate	4.30%
Long-term borrowed funds	$ 135	135
Parent company | Subordinated Debt | 4.350% Fixed Rate Subordinated Debt, Due February 2031
Debt Instrument [Line Items]
Interest rate	4.35%
Long-term borrowed funds	$ 61	$ 60
Parent company | Subordinated Debt | 2.638% fixed-rate subordinated debt, due September 2032
Debt Instrument [Line Items]
Interest rate		2.638%
Long-term borrowed funds	$ 556	$ 550
Parent company | Subordinated Debt | Subordinated Debt, 5.641% Fixed Rate, Due May 2037
Debt Instrument [Line Items]
Interest rate	5.641%
Long-term borrowed funds	$ 397	0
Parent company | Senior Unsecured Notes | 2.850% fixed-rate senior unsecured notes, due July 2026
Debt Instrument [Line Items]
Interest rate	2.85%
Long-term borrowed funds	$ 498	498
Parent company | Senior Unsecured Notes | 2.500% fixed-rate senior unsecured notes, due February 2030
Debt Instrument [Line Items]
Interest rate	2.50%
Long-term borrowed funds	$ 298	298
Parent company | Senior Unsecured Notes | 3.250% fixed-rate senior unsecured notes, due April 2030
Debt Instrument [Line Items]
Interest rate	3.25%
Long-term borrowed funds	$ 746	745
CBNA and Other Subsidiaries
Debt Instrument [Line Items]
Long-term borrowed funds	$ 12,551
CBNA and Other Subsidiaries | Senior Unsecured Notes | 3.250% senior unsecured notes, due February 2022
Debt Instrument [Line Items]
Interest rate	3.25%
Long-term borrowed funds	$ 0	700
CBNA and Other Subsidiaries | Senior Unsecured Notes | 0.845% Floating-Rate Senior Unsecured Notes, Due February 2022
Debt Instrument [Line Items]
Interest rate	0.845%
Long-term borrowed funds	$ 0	300
CBNA and Other Subsidiaries | Senior Unsecured Notes | 1.318 Floating-Rate Senior Unsecured Notes, Due May 2022
Debt Instrument [Line Items]
Interest rate	1.318%
Long-term borrowed funds	$ 0	250
CBNA and Other Subsidiaries | Senior Unsecured Notes | 2.650% senior unsecured notes, due May 2022
Debt Instrument [Line Items]
Interest rate	2.65%
Long-term borrowed funds	$ 0	503
CBNA and Other Subsidiaries | Senior Unsecured Notes | 3.700% senior unsecured notes, due March 2023
Debt Instrument [Line Items]
Interest rate	3.70%
Long-term borrowed funds	$ 497	512
CBNA and Other Subsidiaries | Senior Unsecured Notes | 5.676% Floating-Rate Senior Unsecured Notes, Due March 2023
Debt Instrument [Line Items]
Interest rate	5.676%
Long-term borrowed funds	$ 250	250
CBNA and Other Subsidiaries | Senior Unsecured Notes | 2.250% senior unsecured notes, due April 2025
Debt Instrument [Line Items]
Interest rate	2.25%
Long-term borrowed funds	$ 748	746
CBNA and Other Subsidiaries | Senior Unsecured Notes | Senior Unsecured Notes, 4.119% Fixed/Floating-Rate, Due May 2025
Debt Instrument [Line Items]
Interest rate	4.119%
Long-term borrowed funds	$ 648	0
CBNA and Other Subsidiaries | Senior Unsecured Notes | Senior Unsecured Notes, 6.064% Fixed/Floating-Rate, Due October 2025
Debt Instrument [Line Items]
Interest rate	6.064%
Long-term borrowed funds	$ 598	0
CBNA and Other Subsidiaries | Senior Unsecured Notes | 3.750% senior unsecured notes, due February 2026
Debt Instrument [Line Items]
Interest rate	3.75%
Long-term borrowed funds	$ 475	524
CBNA and Other Subsidiaries | Senior Unsecured Notes | Senior Unsecured Notes, 4.575% Fixed/Floating-Rate, Due August 2028
Debt Instrument [Line Items]
Interest rate	4.575%
Long-term borrowed funds	$ 797	0
CBNA and Other Subsidiaries | Federal Home Loan advances
Debt Instrument [Line Items]
Weighted average interest rate	4.283%
Long-term borrowed funds	$ 8,519	19
CBNA and Other Subsidiaries | Other
Debt Instrument [Line Items]
Long-term borrowed funds	$ 19	$ 29

BORROWED FUNDS - Maturities of

BORROWED FUNDS - Maturities of Long-term Borrowed Funds (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2023	$ 751
2024	8,608
2025	2,477
2026	973
2027	1
2028 and thereafter	3,077
Total	15,887	$ 6,932
Parent Company
Debt Instrument [Line Items]
2023	0
2024	107
2025	469
2026	498
2027	0
2028 and thereafter	2,262
Total	3,336
CBNA and Other Subsidiaries
Debt Instrument [Line Items]
2023	751
2024	8,501
2025	2,008
2026	475
2027	1
2028 and thereafter	815
Total	$ 12,551

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Net loss (pre-tax) on derivatives expected to be reclassified in next 12 months	$ 704
Zero Cost Collar | Cash Flow Hedging | Derivatives designated as hedging instruments:
Derivative [Line Items]
Notional amount	$ 1,500

DERIVATIVES - Schedule of Deriv

DERIVATIVES - Schedule of Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative Assets
Total derivative assets	$ 1,839	$ 1,509
Less: Gross amounts offset in the Consolidated Balance Sheets	(623)	(235)
Less: Cash collateral applied	(374)	(58)
Total net derivative fair values presented in the Consolidated Balance Sheets	842	1,216
Derivative Liabilities
Derivative Liabilities	3,111	922
Less: Gross amounts offset in the Consolidated Balance Sheets	(623)	(235)
Less: Cash collateral applied	(579)	(490)
Total net derivative fair values presented in the Consolidated Balance Sheets	1,909	197
Derivatives not designated as hedging instruments:
Derivative Assets
Total derivative assets	1,823	1,497
Derivative Liabilities
Derivative Liabilities	3,058	920
Interest rate contracts
Derivative Assets
Total derivative assets	347	692
Derivative Liabilities
Derivative Liabilities	1,632	176
Interest rate contracts | Derivatives designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	42,250	23,450
Derivative Assets
Total derivative assets	16	12
Derivative Liabilities
Derivative Liabilities	53	2
Interest rate contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	174,384	142,987
Derivative Assets
Total derivative assets	331	680
Derivative Liabilities
Derivative Liabilities	1,579	174
Commodities contracts
Derivative Assets
Total derivative assets	953	508
Derivative Liabilities
Derivative Liabilities	942	505
Commodities contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	1,103	514
Derivative Assets
Total derivative assets	953	508
Derivative Liabilities
Derivative Liabilities	942	505
Foreign exchange contracts
Derivative Assets
Total derivative assets	527	263
Derivative Liabilities
Derivative Liabilities	519	231
Foreign exchange contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	29,475	21,336
Derivative Assets
Total derivative assets	527	263
Derivative Liabilities
Derivative Liabilities	519	231
TBA contracts
Derivative Assets
Total derivative assets	7	8
Derivative Liabilities
Derivative Liabilities	14	8
TBA contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	2,370	7,776
Derivative Assets
Total derivative assets	7	8
Derivative Liabilities
Derivative Liabilities	14	8
Other contracts
Derivative Assets
Total derivative assets	5	38
Derivative Liabilities
Derivative Liabilities	4	2
Other contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	913	3,555
Derivative Assets
Total derivative assets	5	38
Derivative Liabilities
Derivative Liabilities	$ 4	$ 2

DERIVATIVES - Schedule of Fair

DERIVATIVES - Schedule of Fair Value Hedges (Details) - Hedge of interest rate risk - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest expense - long-term borrowed funds
Derivative Instruments, Gain (Loss) [Line Items]
Derivative	$ (69)	$ (72)	$ 65
Hedged Item	68	71	(63)
Interest and fees on other loans held for sale
Derivative Instruments, Gain (Loss) [Line Items]
Derivative	13	0	17
Hedged Item	(13)	0	(17)
Interest income - investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative	29	68	(104)
Hedged Item	$ (29)	$ (68)	$ 104

DERIVATIVES - Amounts Recorded

DERIVATIVES - Amounts Recorded in Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Last-of-layer hedging amount		$ 2,000
Carrying value of hedged asset in lay-of-layer hedging relationship		6,000
Debt Securities
Derivative [Line Items]
Carrying amount of hedged assets	$ 0	6,042
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	0	29
Long-term borrowed funds
Derivative [Line Items]
Carrying amount of hedged liabilities	972	2,239
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	$ (27)	$ 42

DERIVATIVES - Effect of Derivat

DERIVATIVES - Effect of Derivative Instruments on Net Income and Stockholders' Equity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax net gains (losses) recognized in OCI	$ (1,806)	$ (66)	$ 130
Interest Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax net losses reclassified from AOCI	(111)	183	184
Interest expense - long-term borrowed funds
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax net losses reclassified from AOCI	$ (4)	$ (48)	$ (35)

DERIVATIVES - Effect of Custome

DERIVATIVES - Effect of Customer Derivatives and Economic Hedges on Net Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	$ 112	$ (72)	$ 443
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Fees and Commissions, Mortgage Banking and Servicing, Foreign exchange and derivative products	Fees and Commissions, Mortgage Banking and Servicing, Foreign exchange and derivative products	Fees and Commissions, Mortgage Banking and Servicing, Foreign exchange and derivative products
Economic hedges | Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	$ (2,027)	$ (374)	$ 1,234
Economic hedges | Derivatives hedging interest rate risk
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	2,090	401	(1,188)
Economic hedges | Customer foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	(180)	(207)	216
Economic hedges | Derivatives hedging foreign exchange risk
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	313	305	(263)
Economic hedges | Customer commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	1,121	779	(9)
Economic hedges | Derivatives hedging commodity price risk
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	(1,097)	(770)	13
Economic hedges | Residential loan commitments
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	(284)	(208)	179
Economic hedges | Derivatives hedging residential loan commitments and mortgage loans held for sale, at fair value
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	489	152	(50)
Economic hedges | Derivative contracts used to hedge residential MSRs
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	$ (313)	$ (150)	$ 311

EMPLOYEE BENEFITS - Narrative (

EMPLOYEE BENEFITS - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 01, 2015	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Years of service used in determining benefits		5 years
Net actuarial losses		$ 504	$ 465
Employer matching contribution, period of service completion		1 year
Employer matching contribution percentage	100%
Employer matching contribution, Percent of employees' pay	4%
Employer matching contribution, addition		1.50%
Employer contribution amount		$ 86	$ 63	$ 78
Qualified Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected contribution		0
Non-Qualified Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected contribution		$ 9

EMPLOYEE BENEFITS - Changes in

EMPLOYEE BENEFITS - Changes in the Fair Value of Pension Plan Assets, Projected Benefit Obligation, Funded Status, and Accumulated Benefit Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Qualified Plans
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets as of January 1	$ 1,390	$ 1,343
Actual return on plan assets	(262)	125
Employer contributions	0	0
Benefits and administrative expenses paid	(76)	(78)
Fair value of plan assets from Investors acquisition	130	0
Fair value of plan assets as of December 31	1,182	1,390
Projected benefit obligation	868	1,083
Pension asset (obligation)	314	307
Accumulated benefit obligation	868	1,083
Non-Qualified Plans
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets as of January 1	0	0
Actual return on plan assets	0	0
Employer contributions	8	8
Benefits and administrative expenses paid	(8)	(8)
Fair value of plan assets from Investors acquisition	0	0
Fair value of plan assets as of December 31	0	0
Projected benefit obligation	94	99
Pension asset (obligation)	(94)	(99)
Accumulated benefit obligation	$ 94	$ 99

EMPLOYEE BENEFITS - Schedule of

EMPLOYEE BENEFITS - Schedule of Net Periodic (Income) Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3	$ 3	$ 3
Interest cost	37	34	40
Expected return on plan assets	(93)	(85)	(82)
Amortization of actuarial loss	14	17	17
Settlement	0	15	0
Net periodic pension (income) cost	(39)	(16)	(22)
Net actuarial loss (gain)	52	(74)	37
Amortization of net actuarial loss	(14)	(17)	(17)
Settlement	0	(15)	0
Total gain (loss) recognized in other comprehensive income (loss)	38	(106)	20
Total (loss) gain recognized in net periodic pension (income) cost and other comprehensive income (loss)	(1)	$ (122)	$ (2)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Other operating expense
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other operating expense
Qualified Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	$ 3	$ 3
Interest cost	34	31	37
Expected return on plan assets	(93)	(85)	(82)
Amortization of actuarial loss	11	14	14
Settlement	0	15	0
Net periodic pension (income) cost	(45)	(22)	(28)
Net actuarial loss (gain)	71	(73)	29
Amortization of net actuarial loss	(11)	(14)	(14)
Settlement	0	(15)	0
Total gain (loss) recognized in other comprehensive income (loss)	60	(102)	15
Total (loss) gain recognized in net periodic pension (income) cost and other comprehensive income (loss)	15	(124)	(13)
Non-Qualified Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0
Interest cost	3	3	3
Expected return on plan assets	0	0	0
Amortization of actuarial loss	3	3	3
Settlement	0	0	0
Net periodic pension (income) cost	6	6	6
Net actuarial loss (gain)	(19)	(1)	8
Amortization of net actuarial loss	(3)	(3)	(3)
Settlement	0	0	0
Total gain (loss) recognized in other comprehensive income (loss)	(22)	(4)	5
Total (loss) gain recognized in net periodic pension (income) cost and other comprehensive income (loss)	$ (16)	$ 2	$ 11

EMPLOYEE BENEFITS - Expected Fu

EMPLOYEE BENEFITS - Expected Future Benefit Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Expected benefit payments by fiscal year ended
December 31, 2023	$ 70
December 31, 2024	71
December 31, 2025	73
December 31, 2026	74
December 31, 2027	75
December 31, 2028 - 2032	$ 369

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 23,420	$ 22,673	$ 22,201
Other comprehensive income (loss) before reclassifications	(3,985)	(577)	479
Amounts reclassified to the Consolidated Statements of Operations	90	(28)	(128)
Total other comprehensive income (loss), net of income taxes	(3,895)	(605)	351
Ending balance	23,690	23,420	22,673
Total AOCI
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(665)	(60)	(411)
Total other comprehensive income (loss), net of income taxes	(3,895)	(605)	351
Ending balance	(4,560)	(665)	(60)
Net Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(161)	(11)	3
Other comprehensive income (loss) before reclassifications	(1,340)	(49)	97
Amounts reclassified to the Consolidated Statements of Operations	85	(101)	(111)
Total other comprehensive income (loss), net of income taxes	(1,255)	(150)	(14)
Ending balance	(1,416)	(161)	(11)
Net Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(156)	380	1
Other comprehensive income (loss) before reclassifications	(2,608)	(528)	382
Amounts reclassified to the Consolidated Statements of Operations	(7)	(8)	(3)
Total other comprehensive income (loss), net of income taxes	(2,615)	(536)	379
Ending balance	(2,771)	(156)	380
Employee Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(348)	(429)	(415)
Other comprehensive income (loss) before reclassifications	(37)	0	0
Amounts reclassified to the Consolidated Statements of Operations	12	81	(14)
Total other comprehensive income (loss), net of income taxes	(25)	81	(14)
Ending balance	$ (373)	$ (348)	$ (429)

STOCKHOLDERS' EQUITY - Preferre

STOCKHOLDERS' EQUITY - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Preferred Stock
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock, issued (in shares)	2,050,000	2,050,000
Preferred stock, issued	$ 2,014	$ 2,014
Preferred stock, outstanding (in shares)	2,050,000	2,050,000
Preferred stock, outstanding	$ 2,014	$ 2,014
Series B
Preferred Stock
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred stock, issued (in shares)	300,000	300,000
Preferred stock, issued	$ 296	$ 296
Preferred stock, outstanding (in shares)	300,000	300,000
Preferred stock, outstanding	$ 296	$ 296
Series C
Preferred Stock
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred stock, issued (in shares)	300,000	300,000
Preferred stock, issued	$ 297	$ 297
Preferred stock, outstanding (in shares)	300,000	300,000
Preferred stock, outstanding	$ 297	$ 297
Series D
Preferred Stock
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred stock, issued (in shares)	300,000	300,000
Preferred stock, issued	$ 293	$ 293
Preferred stock, outstanding (in shares)	300,000	300,000
Preferred stock, outstanding	$ 293	$ 293
Shares issued (in dollars per share)	$ 25
Depositary shares issued (in shares)	12,000,000
Depository share interest percentage	2.50%
Series E
Preferred Stock
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred stock, issued (in shares)	450,000	450,000
Preferred stock, issued	$ 437	$ 437
Preferred stock, outstanding (in shares)	450,000	450,000
Preferred stock, outstanding	$ 437	$ 437
Shares issued (in dollars per share)	$ 25
Depositary shares issued (in shares)	18,000,000
Depository share interest percentage	2.50%
Series F
Preferred Stock
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred stock, issued (in shares)	400,000	400,000
Preferred stock, issued	$ 395	$ 395
Preferred stock, outstanding (in shares)	400,000	400,000
Preferred stock, outstanding	$ 395	$ 395
Series G
Preferred Stock
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred stock, issued (in shares)	300,000	300,000
Preferred stock, issued	$ 296	$ 296
Preferred stock, outstanding (in shares)	300,000	300,000
Preferred stock, outstanding	$ 296	$ 296

STOCKHOLDERS' EQUITY - Prefer_2

STOCKHOLDERS' EQUITY - Preferred Stock Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Number of shares issued (in shares)	2,050,000	2,050,000
Redemption period	90 days
Redemption price per share (in dollars per share)	$ 1,000
Series B
Class of Stock [Line Items]
Number of shares issued (in shares)	300,000	300,000
Preferred stock, dividend rate	6%
Series C
Class of Stock [Line Items]
Number of shares issued (in shares)	300,000	300,000
Preferred stock, dividend rate	6.375%
Series D
Class of Stock [Line Items]
Number of shares issued (in shares)	300,000	300,000
Preferred stock, dividend rate	6.35%
Depositary shares issued (in shares)	12,000,000
Series E
Class of Stock [Line Items]
Number of shares issued (in shares)	450,000	450,000
Preferred stock, dividend rate	5%
Depositary shares issued (in shares)	18,000,000
Series F
Class of Stock [Line Items]
Number of shares issued (in shares)	400,000	400,000
Preferred stock, dividend rate	5.65%
Series G
Class of Stock [Line Items]
Number of shares issued (in shares)	300,000	300,000
Preferred stock, dividend rate	4%
LIBOR | Series B
Class of Stock [Line Items]
Preferred stock, dividend payment rate	3.003%
LIBOR | Series C
Class of Stock [Line Items]
Preferred stock, dividend payment rate	3.157%
LIBOR | Series D
Class of Stock [Line Items]
Preferred stock, dividend payment rate	3.642%
US Treasury (UST) Interest Rate | Series F
Class of Stock [Line Items]
Preferred stock, dividend payment rate	5.313%
US Treasury (UST) Interest Rate | Series G
Class of Stock [Line Items]
Preferred stock, dividend payment rate	3.215%

STOCKHOLDERS' EQUITY - Dividend

STOCKHOLDERS' EQUITY - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Dividends declared per share of common stock (in usd per share)	$ 1.62	$ 1.56	$ 1.56
Common stock dividends declared and paid	$ 779	$ 670	$ 672
Preferred stock dividends declared and paid	113	113	107
Dividends Declared
Class of Stock [Line Items]
Common stock dividends declared and paid	779	670	672
Preferred stock dividends declared and paid	113	113	107
Dividends Paid
Class of Stock [Line Items]
Common stock dividends declared and paid	779	670	672
Preferred stock dividends declared and paid	$ 113	$ 113	$ 98
Series A
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 0	$ 20.99	$ 62.59
Series A | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 0	$ 5	$ 15
Series A | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 0	$ 8	$ 13
Series B
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 60	$ 60	$ 60
Series B | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 18	$ 18	$ 18
Series B | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 18	$ 18	$ 18
Series C
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 63.75	$ 63.75	$ 63.75
Series C | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 19	$ 19	$ 19
Series C | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 19	$ 19	$ 19
Series D
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 63.50	$ 63.50	$ 63.50
Series D | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 19	$ 18	$ 19
Series D | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 19	$ 18	$ 19
Series E
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 50	$ 50	$ 50
Series E | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 22	$ 23	$ 23
Series E | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 22	$ 23	$ 21
Series F
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 56.50	$ 56.50	$ 33.27
Series F | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 23	$ 23	$ 13
Series F | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 23	$ 23	$ 8
Series G
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 40	$ 22.78	$ 0
Series G | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 12	$ 7	$ 0
Series G | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 12	$ 4	$ 0

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Cost of stock repurchase	$ 153	$ 295	$ 270
Treasury stock purchased (in shares)	3,815,922	6,455,636

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee discount on company stock	10%
Maximum employee salary contribution percentage - ESPP	10%
Maximum employee contribution amount - ESPP	$ 25,000
Compensation expense related to share-based plans	84,000,000	$ 59,000,000	$ 48,000,000
Share-based compensation not yet recognized	$ 66,000,000
Unrecognized compensation expense, weighted-average period of recognition	2 years
Tax benefit recognized in earnings for share-based compensation arrangements	$ 19,000,000	$ 12,000,000	$ 8,000,000
2014 Omnibus Incentive Plan | Time-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2014 Omnibus Incentive Plan | Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Omnibus Incentive Plan And Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	43,176,549
2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	3,903,590

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Activity (Details) - Citizens Share Awards - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares Underlying Awards
Nonvested, Beginning of period (in shares)	3,502,956	3,496,231	3,000,224
Assumed (in shares)	0	82,013	0
Granted (in shares)	1,844,352	1,417,370	1,947,902
Vested and Distributed (in shares)	(1,359,543)	(1,400,722)	(1,384,091)
Forfeited (in shares)	(111,164)	(91,936)	(67,804)
Nonvested, End of period (in shares)	3,876,601	3,502,956	3,496,231
Weighted Average Grant Price
Nonvested, Beginning of period (in dollars per share)	$ 38.23	$ 34.37	$ 36.71
Assumed (in dollars per share)	0	49.95	0
Granted (in dollars per share)	48.12	44.97	32.64
Vested and Distributed (in dollars per share)	37.47	38.88	38.59
Forfeited (in dollars per share)	43.36	35	35.89
Nonvested, End of period (in dollars per share)	$ 43.06	$ 38.23	$ 34.37

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2003
Minimum
Risk Participation Agreements [Abstract]
Risk participation agreements, Average term	1 year
Maximum
Risk Participation Agreements [Abstract]
Risk participation agreements, Average term	7 years
Marketing rights
Marketing Rights [Abstract]
Commitment period		25 years
Financial standby letters of credit
Letters of Credit [Abstract]
Letters of credit terms	10 years
Commercial letters of credit
Letters of Credit [Abstract]
Letters of credit terms	1 year

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Outstanding Off-balance sheet Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Commitment amount	$ 98,314	$ 86,351
Commitments to extend credit
Other Commitments [Line Items]
Commitment amount	96,076	84,206
Letters of credit
Other Commitments [Line Items]
Commitment amount	2,119	1,998
Risk participation agreements
Other Commitments [Line Items]
Commitment amount	4	39
Loans sold with recourse
Other Commitments [Line Items]
Commitment amount	92	82
Marketing rights
Other Commitments [Line Items]
Commitment amount	$ 23	$ 26

FAIR VALUE MEASUREMENTS - Resid

FAIR VALUE MEASUREMENTS - Residential and Commercial Mortgage Loans Held For Sale (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	$ 774	$ 2,733
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	774	2,733
Level 2 | Residential mortgage loans held for sale, at fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	666	2,657
Aggregate Unpaid Principal	656	2,591
Aggregate Fair Value Less Aggregate Unpaid Principal	10	66
Level 2 | Commercial and industrial, and commercial real estate loans held for sale, at fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	108	76
Aggregate Unpaid Principal	127	79
Aggregate Fair Value Less Aggregate Unpaid Principal	$ (19)	$ (3)

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Assets
Debt securities, available for sale, at fair value pledged to creditors	[1]	$ 24,007	$ 26,067
Loans held for sale, at fair value:		774	2,733
Mortgage servicing rights		1,530	1,029
Total derivative assets		1,839	1,509
Equity securities, at fair value		110	102
Total assets		28,260	31,440
Liabilities
Total derivative liabilities		3,111	922
Total liabilities		3,111	922
Equity securities, at fair value, Fair Value		153	109
Interest rate contracts
Assets
Total derivative assets		347	692
Liabilities
Total derivative liabilities		1,632	176
Foreign exchange contracts
Assets
Total derivative assets		527	263
Liabilities
Total derivative liabilities		519	231
Commodities contracts
Assets
Total derivative assets		953	508
Liabilities
Total derivative liabilities		942	505
TBA contracts
Assets
Total derivative assets		7	8
Liabilities
Total derivative liabilities		14	8
Other contracts
Assets
Total derivative assets		5	38
Liabilities
Total derivative liabilities		4	2
Level 1
Assets
Debt securities, available for sale, at fair value pledged to creditors		3,486	11
Loans held for sale, at fair value:		0	0
Total derivative assets		0	0
Equity securities, at fair value		110	95
Total assets		3,596	106
Liabilities
Total derivative liabilities		0	0
Total liabilities		0	0
Level 1 | Interest rate contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 1 | Foreign exchange contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 1 | Commodities contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 1 | TBA contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 1 | Other contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 2
Assets
Debt securities, available for sale, at fair value pledged to creditors		20,521	26,056
Loans held for sale, at fair value:		774	2,733
Total derivative assets		1,834	1,471
Equity securities, at fair value		0	7
Total assets		23,129	30,267
Liabilities
Total derivative liabilities		3,107	922
Total liabilities		3,107	922
Level 2 | Interest rate contracts
Assets
Total derivative assets		347	692
Liabilities
Total derivative liabilities		1,632	176
Level 2 | Foreign exchange contracts
Assets
Total derivative assets		527	263
Liabilities
Total derivative liabilities		519	231
Level 2 | Commodities contracts
Assets
Total derivative assets		953	508
Liabilities
Total derivative liabilities		942	505
Level 2 | TBA contracts
Assets
Total derivative assets		7	8
Liabilities
Total derivative liabilities		14	8
Level 2 | Other contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	2
Level 3
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
Loans held for sale, at fair value:		0	0
Total derivative assets		5	38
Equity securities, at fair value		0	0
Total assets		1,535	1,067
Liabilities
Total derivative liabilities		4	0
Total liabilities		4	0
Level 3 | Interest rate contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 3 | Foreign exchange contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 3 | Commodities contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 3 | TBA contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 3 | Other contracts
Assets
Total derivative assets		5	38
Liabilities
Total derivative liabilities		4	0
Investments Measured at Net Asset Value
Liabilities
Equity securities, at fair value, Fair Value		43	7
Unfunded capital commitments		42
Total mortgage-backed securities
Assets
Debt securities, available for sale, at fair value pledged to creditors		19,313	24,847
Total mortgage-backed securities | Level 1
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
Total mortgage-backed securities | Level 2
Assets
Debt securities, available for sale, at fair value pledged to creditors		19,313	24,847
Total mortgage-backed securities | Level 3
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
Collateralized loan obligations
Assets
Debt securities, available for sale, at fair value pledged to creditors		1,206	1,207
Collateralized loan obligations | Level 1
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
Collateralized loan obligations | Level 2
Assets
Debt securities, available for sale, at fair value pledged to creditors		1,206	1,207
Collateralized loan obligations | Level 3
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
State and political subdivisions
Assets
Debt securities, available for sale, at fair value pledged to creditors		2	2
State and political subdivisions | Level 1
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
State and political subdivisions | Level 2
Assets
Debt securities, available for sale, at fair value pledged to creditors		2	2
State and political subdivisions | Level 3
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
U.S. Treasury and other
Assets
Debt securities, available for sale, at fair value pledged to creditors		3,486	11
U.S. Treasury and other | Level 1
Assets
Debt securities, available for sale, at fair value pledged to creditors		3,486	11
U.S. Treasury and other | Level 2
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
U.S. Treasury and other | Level 3
Assets
Debt securities, available for sale, at fair value pledged to creditors		0	0
Residential loans held for sale
Assets
Loans held for sale, at fair value:		666	2,657
Residential loans held for sale | Level 1
Assets
Loans held for sale, at fair value:		0	0
Residential loans held for sale | Level 2
Assets
Loans held for sale, at fair value:		666	2,657
Residential loans held for sale | Level 3
Assets
Loans held for sale, at fair value:		0	0
Commercial loans held for sale
Assets
Loans held for sale, at fair value:		108	76
Commercial loans held for sale | Level 1
Assets
Loans held for sale, at fair value:		0	0
Commercial loans held for sale | Level 2
Assets
Loans held for sale, at fair value:		108	76
Commercial loans held for sale | Level 3
Assets
Loans held for sale, at fair value:		0	0
Mortgage Servicing Rights
Assets
Mortgage servicing rights		1,530	1,029
Mortgage Servicing Rights | Level 1
Assets
Mortgage servicing rights		0	0
Mortgage Servicing Rights | Level 2
Assets
Mortgage servicing rights		0	0
Mortgage Servicing Rights | Level 3
Assets
Mortgage servicing rights		$ 1,530	$ 1,029
[1]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Assets Measured on Recurring Basis Level 3 Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Mortgage Servicing Rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,029	$ 658
Issuances	279	419
Acquisitions	16	0
Settlements	(137)	(212)
Changes in fair value during the period recognized in earnings	343	164
Ending balance	1,530	1,029
Other Derivative Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	38	197
Issuances	93	377
Acquisitions	0	0
Settlements	154	(328)
Changes in fair value during the period recognized in earnings	(284)	(208)
Ending balance	$ 1	$ 38

FAIR VALUE MEASUREMENTS - Unobs

FAIR VALUE MEASUREMENTS - Unobservable Inputs Used and Valuation Techniques (Details) - Level 3	Dec. 31, 2022
Minimum | Discounted Cash Flow | Constant prepayment rate | Residential mortgages
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights, measurement input	0.0619
Minimum | Discounted Cash Flow | Option adjusted spread | Residential mortgages
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights, measurement input	3.98
Minimum | Internal Model | Pull through rate | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	0.2862
Minimum | Internal Model | MSR value | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	(0.0160)
Maximum | Discounted Cash Flow | Constant prepayment rate | Residential mortgages
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights, measurement input	0.1780
Maximum | Discounted Cash Flow | Option adjusted spread | Residential mortgages
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights, measurement input	10.58
Maximum | Internal Model | Pull through rate | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	0.9990
Maximum | Internal Model | MSR value | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	1.4484
Weighted Average | Discounted Cash Flow | Constant prepayment rate | Residential mortgages
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights, measurement input	0.0680
Weighted Average | Discounted Cash Flow | Option adjusted spread | Residential mortgages
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights, measurement input	6.29
Weighted Average | Internal Model | Pull through rate | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	0.8371
Weighted Average | Internal Model | MSR value | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	0.9580

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of Gain (Loss) on Assets and Liabilities Measured on Nonrecurring Basis Included in Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Nonrecurring measurement basis | Collateral-dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	$ (4)	$ (27)	$ (82)

FAIR VALUE MEASUREMENTS - Sch_4

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements on a Nonrecurring Basis (Details) - Nonrecurring measurement basis - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	$ 582	$ 645
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	582	645
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sch_5

FAIR VALUE MEASUREMENTS - Schedule of Financial Instruments not Recorded at Fair Value (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Financial assets:
Asset-backed investments included in HTM securities	[1]	$ 9,834	$ 2,242
Debt securities held-to-maturity, fair value	[1]	9,042	2,289
Other loans held for sale, carrying value		208	735
Other loans held for sale, fair value		208	735
Loans and leases		156,662	128,163
Loans and leases, fair value		151,601	128,156
Other investment securities, at cost, carrying value		1,058	624
Other investment securities, at cost, estimated fair value		1,058	624
Financial liabilities:
Deposits, carrying value		180,724	154,361
Deposits, fair value		180,566	154,366
Short-term borrowed funds		3	74
Short-term borrowed funds, fair value		3	74
Long-term borrowed funds, carrying value		15,887	6,932
Long-term borrowed funds, fair value		15,469	7,188
Level 1
Financial assets:
Asset-backed investments included in HTM securities		0	0
Debt securities held-to-maturity, fair value		0	0
Other loans held for sale, carrying value		0	0
Other loans held for sale, fair value		0	0
Loans and leases		0	0
Loans and leases, fair value		0	0
Other investment securities, at cost, carrying value		0	0
Other investment securities, at cost, estimated fair value		0	0
Financial liabilities:
Deposits, carrying value		0	0
Deposits, fair value		0	0
Short-term borrowed funds		0	0
Short-term borrowed funds, fair value		0	0
Long-term borrowed funds, carrying value		0	0
Long-term borrowed funds, fair value		0	0
Level 2
Financial assets:
Asset-backed investments included in HTM securities		9,253	1,505
Debt securities held-to-maturity, fair value		8,506	1,557
Other loans held for sale, carrying value		0	0
Other loans held for sale, fair value		0	0
Loans and leases		582	645
Loans and leases, fair value		582	645
Other investment securities, at cost, carrying value		1,038	609
Other investment securities, at cost, estimated fair value		1,038	609
Financial liabilities:
Deposits, carrying value		180,724	154,361
Deposits, fair value		180,566	154,366
Short-term borrowed funds		3	74
Short-term borrowed funds, fair value		3	74
Long-term borrowed funds, carrying value		15,887	6,932
Long-term borrowed funds, fair value		15,469	7,188
Level 3
Financial assets:
Asset-backed investments included in HTM securities		581	737
Debt securities held-to-maturity, fair value		536	732
Other loans held for sale, carrying value		208	735
Other loans held for sale, fair value		208	735
Loans and leases		156,080	127,518
Loans and leases, fair value		151,019	127,511
Other investment securities, at cost, carrying value		20	15
Other investment securities, at cost, estimated fair value		20	15
Financial liabilities:
Deposits, carrying value		0	0
Deposits, fair value		0	0
Short-term borrowed funds		0	0
Short-term borrowed funds, fair value		0	0
Long-term borrowed funds, carrying value		0	0
Long-term borrowed funds, fair value		$ 0	$ 0
[1]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.

NONINTEREST INCOME - Narrative

NONINTEREST INCOME - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Trust and investment services fees
Disaggregation of Revenue [Line Items]
Trailing commission income	$ 15	$ 16	$ 14

NONINTEREST INCOME - Components

NONINTEREST INCOME - Components of Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 1,299	$ 1,325	$ 1,080
Total noninterest income	2,009	2,135	2,319
Bank-owned life insurance	88	67	57
Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from other sources(1)	710	810	1,239
Total noninterest income	2,009	2,135	2,319
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4	0	0
Total revenue from other sources(1)	97	103	69
Total noninterest income	101	103	69
Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	769	757	690
Consumer Banking | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from other sources(1)	294	466	965
Total noninterest income	1,063	1,223	1,655
Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	526	568	390
Commercial Banking | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from other sources(1)	319	241	205
Total noninterest income	845	809	595
Service charges and fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	418	407	401
Service charges and fees | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3	0	0
Service charges and fees | Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	291	302	301
Service charges and fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	124	105	100
Card fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	271	248	216
Card fees | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Card fees | Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	228	216	185
Card fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	43	32	31
Capital markets fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	341	419	249
Capital markets fees | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Capital markets fees | Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Capital markets fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	341	419	249
Trust and investment services fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	250	239	203
Trust and investment services fees | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Trust and investment services fees | Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	249	239	203
Trust and investment services fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	0	0
Other banking fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	19	12	11
Other banking fees | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	0	0
Other banking fees | Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	0	1
Other banking fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 17	$ 12	$ 10

OTHER OPERATING EXPENSE (Detail

OTHER OPERATING EXPENSE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Marketing	$ 166	$ 111	$ 100
Deposit insurance	96	66	66
Other	323	234	253
Other operating expense	$ 585	$ 411	$ 419

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Federal and state net operating and capital loss carryforwards	$ 719
Deferred tax asset valuation allowance	133	$ 103
Capital Loss Carryforward
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Capital loss carryforward	133
Tax Years Ended Prior to 1988
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Base year loan loss reserves attributable to prior years	$ 557

INCOME TAXES - Income Tax Expen

INCOME TAXES - Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 582	$ 658	$ 241
Tax effect of changes in OCI	(1,319)	(199)	112
Total comprehensive income tax expense (benefit)	$ (737)	$ 459	$ 353

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
U.S. federal	$ 355	$ 871	$ 377
State and local	170	216	102
Total	525	1,087	479
Deferred
U.S. federal	88	(345)	(181)
State and local	(31)	(84)	(57)
Total	57	(429)	(238)
U.S. federal	443	526	196
State and local	139	132	45
Income tax expense	$ 582	$ 658	$ 241

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amount
U.S. Federal income tax expense	$ 558	$ 625	$ 273
Increase (decrease) resulting from:
State and local income taxes (net of federal benefit)	133	126	54
Bank-owned life insurance	(19)	(14)	(12)
Tax-exempt interest	(8)	(7)	(10)
Tax advantaged investments (including related credits)	(102)	(95)	(68)
Other tax credits	(9)	(7)	(6)
Adjustments for uncertain tax positions	1	3	(1)
Non-deductible FDIC premiums	20	14	14
Legacy tax matters	3	0	(4)
Other	5	13	1
Income tax expense	$ 582	$ 658	$ 241
Rate
U.S. Federal income tax rate	21%	21%	21%
Increase (decrease) resulting from:
State and local income taxes (net of federal benefit)	5%	4.20%	4.20%
Bank-owned life insurance	(0.70%)	(0.50%)	(0.90%)
Tax-exempt interest	(0.30%)	(0.20%)	(0.70%)
Tax advantaged investments (including related credits)	(3.80%)	(3.20%)	(5.30%)
Other tax credits	(0.30%)	(0.20%)	(0.50%)
Adjustments for uncertain tax positions	0%	0.10%	(0.10%)
Non-deductible FDIC premiums	0.70%	0.50%	1.10%
Legacy tax matters	0.10%	0%	(0.30%)
Other	0.20%	0.40%	0%
Total income tax expense and tax rate	21.90%	22.10%	18.50%

INCOME TAXES - Deferred Income

INCOME TAXES - Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Other comprehensive income	$ 1,546	$ 227
Allowance for credit losses	511	448
Federal and state net operating and capital loss carryforwards	77	50
Accrued expenses not currently deductible	863	676
Investment and other tax credit carryforwards	131	110
Other	19	0
Total deferred tax assets	3,147	1,511
Valuation allowance	(133)	(103)
Deferred tax assets, net of valuation allowance	3,014	1,408
Deferred tax liabilities:
Leasing transactions	287	331
Amortization of intangibles	413	379
Depreciation	470	256
Pension and other employee compensation plans	128	132
Partnerships	87	95
Deferred Income	12	85
MSRs	203	130
Total deferred tax liabilities	1,600	1,408
Net deferred tax asset (liability)	$ 1,414
Net deferred tax asset (liability)		$ 0

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the year	$ 7	$ 4	$ 5
Gross increase for tax positions related to current year	0	1	0
Gross increase for tax positions related to prior years	0	3	0
Decrease for tax positions as a result of the lapse of the statutes of limitations	0	(1)	(1)
Decrease for tax positions related to settlements with taxing authorities	(1)	0	0
Balance at end of year	$ 6	$ 7	$ 4

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator (basic and diluted):
Net income	$ 2,073	$ 2,319	$ 1,057
Less: Preferred stock dividends	113	113	107
Net income available to common stockholders	$ 1,960	$ 2,206	$ 950
Denominator:
Weighted-average common shares outstanding - basic (in shares)	475,959,815	425,669,451	427,062,537
Dilutive common shares: share-based awards (in shares)	1,843,327	1,766,367	1,095,243
Weighted-average common shares outstanding - diluted (in shares)	477,803,142	427,435,818	428,157,780
Earnings per common share:
Basic (in dollars per share)	$ 4.12	$ 5.18	$ 2.22
Diluted (in dollars per share)	$ 4.10	$ 5.16	$ 2.22
Antidilutive securities (in shares)	949,606	2,929	1,338,130

REGULATORY MATTERS - Narrative

REGULATORY MATTERS - Narrative (Details)	Dec. 31, 2022	Dec. 31, 2021
Mortgage Banking [Abstract]
Required Minimum Capital	7.90%	7.90%

REGULATORY MATTERS - Capital an

REGULATORY MATTERS - Capital and Capital Ratio Information (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Common Equity Tier 1 to Risk-Weighted Assets (Amount)
Actual	$ 18,574	$ 15,656
Required Minimum Capital	$ 14,633	$ 12,548
Common Equity Tier 1 to Risk-Weighted Assets (Ratio)
Actual	0.100	0.099
Required Minimum Capital	7.90%	7.90%
Tier 1 Capital to Risk-Weighted Assets (Amount)
Actual	$ 20,588	$ 17,670
Required Minimum Capital	$ 17,411	$ 14,930
Tier 1 Capital to Risk-Weighted Assets (Ratio)
Actual	0.111	0.111
Required Minimum Capital	0.094	0.094
Total Capital to Risk-Weighted Assets (Amount)
Actual	$ 23,755	$ 20,244
Required Minimum Capital	$ 21,116	$ 18,107
Total Capital to Risk-Weighted Assets (Ratio)
Actual	0.128	0.127
Required Minimum Capital	0.114	0.114
Tier 1 Capital to Average Assets (Leverage) (Amount)
Actual	$ 20,588	$ 17,670
Required Minimum Capital	$ 8,831	$ 7,272
Tier 1 Capital to Average Assets (Leverage) (Ratio)
Actual	0.093	0.097
Required Minimum Capital	0.040	0.040
Stress capital buffer	3.40%	3.40%
CBNA
Common Equity Tier 1 to Risk-Weighted Assets (Amount)
Actual	$ 20,669	$ 17,039
Required Minimum Capital	$ 12,935	$ 11,099
Common Equity Tier 1 to Risk-Weighted Assets (Ratio)
Actual	0.112	0.107
Required Minimum Capital	7%	7%
Tier 1 Capital to Risk-Weighted Assets (Amount)
Actual	$ 20,669	$ 17,039
Required Minimum Capital	$ 15,706	$ 13,477
Tier 1 Capital to Risk-Weighted Assets (Ratio)
Actual	0.112	0.107
Required Minimum Capital	0.085	0.085
Total Capital to Risk-Weighted Assets (Amount)
Actual	$ 23,534	$ 19,600
Required Minimum Capital	$ 19,402	$ 16,648
Total Capital to Risk-Weighted Assets (Ratio)
Actual	0.127	0.124
Required Minimum Capital	0.105	0.105
Tier 1 Capital to Average Assets (Leverage) (Amount)
Actual	$ 20,669	$ 17,039
Required Minimum Capital	$ 8,807	$ 7,251
Tier 1 Capital to Average Assets (Leverage) (Ratio)
Actual	0.094	0.094
Required Minimum Capital	0.040	0.040
Capital conservation buffer	2.50%	2.50%

BUSINESS OPERATING SEGMENTS - N

BUSINESS OPERATING SEGMENTS - Narrative (Details) - segment		12 Months Ended
	Apr. 06, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Business operating segments	2	2

BUSINESS OPERATING SEGMENTS - S

BUSINESS OPERATING SEGMENTS - Schedule of Business Operating Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net interest income	$ 6,012	$ 4,512	$ 4,586
Noninterest income	2,009	2,135	2,319
Total revenue	8,021	6,647	6,905
Noninterest expense	4,892	4,081	3,991
Profit (loss) before provision for credit losses	3,129	2,566	2,914
Provision (benefit) for credit losses	474	(411)	1,616
Income before income tax expense	2,655	2,977	1,298
Income tax expense	582	658	241
NET INCOME	2,073	2,319	1,057
Total average assets	215,061	185,106	176,442
Operating Segments
Segment Reporting Information [Line Items]
Noninterest income	2,009	2,135	2,319
Operating Segments | Consumer Banking
Segment Reporting Information [Line Items]
Net interest income	4,043	3,562	3,311
Noninterest income	1,063	1,223	1,655
Total revenue	5,106	4,785	4,966
Noninterest expense	3,391	2,987	2,964
Profit (loss) before provision for credit losses	1,715	1,798	2,002
Provision (benefit) for credit losses	226	185	288
Income before income tax expense	1,489	1,613	1,714
Income tax expense	381	410	429
NET INCOME	1,108	1,203	1,285
Total average assets	86,147	75,509	72,022
Operating Segments | Commercial Banking
Segment Reporting Information [Line Items]
Net interest income	2,103	1,706	1,643
Noninterest income	845	809	595
Total revenue	2,948	2,515	2,238
Noninterest expense	1,223	973	860
Profit (loss) before provision for credit losses	1,725	1,542	1,378
Provision (benefit) for credit losses	46	156	398
Income before income tax expense	1,679	1,386	980
Income tax expense	375	300	206
NET INCOME	1,304	1,086	774
Total average assets	74,919	57,617	60,839
Other
Segment Reporting Information [Line Items]
Net interest income	(134)	(756)	(368)
Noninterest income	101	103	69
Total revenue	(33)	(653)	(299)
Noninterest expense	278	121	167
Profit (loss) before provision for credit losses	(311)	(774)	(466)
Provision (benefit) for credit losses	202	(752)	930
Income before income tax expense	(513)	(22)	(1,396)
Income tax expense	(174)	(52)	(394)
NET INCOME	(339)	30	(1,002)
Total average assets	$ 53,995	$ 51,980	$ 43,581

PARENT COMPANY FINANCIALS - Con

PARENT COMPANY FINANCIALS - Condensed Statements of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING INCOME:
Total interest income	$ 7,060	$ 4,851	$ 5,357
OPERATING EXPENSE:
Salaries and employee benefits	2,549	2,132	2,123
Interest expense	1,048	339	771
All other expenses	585	411	419
Income tax expense (benefit)	582	658	241
NET INCOME	2,073	2,319	1,057
Total other comprehensive income (loss), net of income taxes	(3,895)	(605)	351
Total comprehensive income (loss)	(1,822)	1,714	1,408
Parent company
OPERATING INCOME:
Dividends	450	1,120	900
Interest	39	35	42
Management and service fees	69	64	54
All other operating income	1	1	1
Total interest income	605	1,279	1,041
OPERATING EXPENSE:
Salaries and employee benefits	43	36	27
Interest expense	125	119	120
All other expenses	28	28	30
Total operating expense	196	183	177
Income before income tax expense	409	1,096	864
Income tax expense (benefit)	(13)	(16)	(16)
Income before undistributed income of subsidiaries	422	1,112	880
NET INCOME	2,073	2,319	1,057
Total other comprehensive income (loss), net of income taxes	(3,895)	(605)	351
Total comprehensive income (loss)	(1,822)	1,714	1,408
Nonbank subsidiaries | Parent company
OPERATING INCOME:
Interest	3	2	4
Dividends	43	57	40
OPERATING EXPENSE:
Equity in undistributed income (losses) of subsidiaries	(73)	19	7
Bank subsidiaries | Parent company
OPERATING EXPENSE:
Equity in undistributed income (losses) of subsidiaries	$ 1,724	$ 1,188	$ 170

PARENT COMPANY FINANCIALS - C_2

PARENT COMPANY FINANCIALS - Condensed Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
ASSETS:
Cash and due from banks	$ 1,489	$ 1,155
Other assets	13,089	8,746
TOTAL ASSETS	226,733	188,409
LIABILITIES:
Long-term borrowed funds	15,887	6,932
Other liabilities	4,520	3,425
TOTAL LIABILITIES	203,043	164,989
Total stockholders’ equity	23,690	23,420	$ 22,673	$ 22,201
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	226,733	188,409
Parent company
ASSETS:
Cash and due from banks	1,821	2,266
Other assets	182	140
TOTAL ASSETS	27,267	26,771
LIABILITIES:
Long-term borrowed funds	3,336
Other liabilities	241	252
TOTAL LIABILITIES	3,577	3,351
Total stockholders’ equity	23,690	23,420
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	27,267	26,771
Bank subsidiaries | Parent company
ASSETS:
Loans and advances	1,153	1,148
Investments in subsidiaries	23,674	22,742
Nonbank subsidiaries | Parent company
ASSETS:
Loans and advances	135	150
Investments in subsidiaries	302	325
Unaffiliated companies | Parent company
LIABILITIES:
Long-term borrowed funds	$ 3,336	$ 3,099

PARENT COMPANY FINANCIALS - C_3

PARENT COMPANY FINANCIALS - Condensed Cash Flow Statements (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Net income		$ 2,073	$ 2,319	$ 1,057
Adjustments to reconcile net income to net change in cash due to operating activities:
Deferred income taxes		57	(429)	(238)
Net increase (decrease) in other liabilities		1,036	757	1,001
Net (increase) decrease in other assets		(1,894)	(1,719)	(3,979)
Net change due to operating activities		4,119	2,275	111
INVESTING ACTIVITIES
Acquisitions, net of cash acquired	[1]	(255)	(165)	(3)
Other investing, net		(771)	(316)	(65)
Net change due to investing activities		(12,637)	(10,486)	(6,136)
FINANCING ACTIVITIES
Proceeds from issuance of long-term borrowed funds		24,617	0	8,323
Repayments of long-term borrowed funds		(19,691)	(1,352)	(14,022)
Treasury stock purchased		(153)	(295)	(270)
Net proceeds from issuance of preferred stock		0	296	395
Redemption of preferred stock		0	(250)	0
Dividends declared and paid to preferred stockholders		(113)	(113)	(98)
Net change due to financing activities		9,907	4,636	15,372
Net change in cash and cash equivalents	[2]	1,389	(3,575)	9,347
Cash and cash equivalents at beginning of period	[2]	9,158	12,733	3,386
Cash and cash equivalents at end of period	[2]	10,547	9,158	12,733
Parent company
OPERATING ACTIVITIES
Net income		2,073	2,319	1,057
Adjustments to reconcile net income to net change in cash due to operating activities:
Deferred income taxes		(11)	0	17
Equity in undistributed income of subsidiaries		(1,651)	(1,207)	(177)
Net increase (decrease) in other liabilities		(7)	34	43
Net (increase) decrease in other assets		(44)	12	(41)
Other operating, net		92	67	48
Net change due to operating activities		452	1,225	947
INVESTING ACTIVITIES
Investments in and advances to subsidiaries		(156)	(196)	(190)
Repayment of investments in and advances to subsidiaries		121	125	205
Acquisitions, net of cash acquired		(23)	(165)	0
Other investing, net		(1)	(1)	(1)
Net change due to investing activities		(59)	(237)	14
FINANCING ACTIVITIES
Proceeds from issuance of long-term borrowed funds		414	0	1,053
Repayments of long-term borrowed funds		(182)	(350)	(12)
Treasury stock purchased		(153)	(295)	(270)
Net proceeds from issuance of preferred stock		0	296	395
Redemption of preferred stock		0	(250)	0
Dividends declared and paid to common stockholders		(779)	(670)	(672)
Dividends declared and paid to preferred stockholders		(113)	(113)	(98)
Other financing, net		(25)	(20)	(95)
Net change due to financing activities		(838)	(1,402)	301
Net change in cash and cash equivalents		(445)	(414)	1,262
Cash and cash equivalents at beginning of period		2,266	2,680	1,418
Cash and cash equivalents at end of period		$ 1,821	$ 2,266	$ 2,680
[1]Primarily includes cash paid of $355 million to acquire Investors less $287 million in cash acquired, and $143 million and $23 million of cash paid for the HSBC transaction and acquisition of DH Capital, respectively, for the year ended December 31, 2022. See Note 2 for more detailed information regarding these acquisitions.[2]Cash and cash equivalents include cash and due from banks and interest-bearing cash and due from banks as reflected on the Consolidated Balance Sheets

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions	Feb. 17, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Remaining authorized repurchase amount		$ 850
Subsequent Event
Subsequent Event [Line Items]
Increase in capacity under common share repurchase program	$ 1,150