Citizens Financial (CFG) 10-K 16 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 01, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 12,304,245,801
Entity Common Stock, Shares Outstanding		458,756,723
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 2024 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, 2023.
Entity Central Index Key	0000759944
Amendment Flag	false
Document Fiscal Year Focus	2023
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, 2023
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, 2023	Dec. 31, 2022
ASSETS:
Cash and due from banks	[1]	$ 1,794	$ 1,489
Interest-bearing cash and due from banks		9,834	9,058
Interest-bearing deposits in banks	[1]	405	303
Debt securities available for sale, at fair value (including $110 and $270 pledged to creditors, respectively)	[2]	29,777	24,007
Debt securities held to maturity (fair value of $8,350 and $9,042, respectively, and including $204 and $110 pledged to creditors, respectively)	[2]	9,184	9,834
Loans held for sale, at fair value		676	774
Other loans held for sale		103	208
Loans and leases		145,959	156,662
Less: Allowance for loan and lease losses		(2,098)	(1,983)
Net loans and leases	[1]	143,861	154,679
Derivative assets		440	842
Premises and equipment, net		895	844
Bank-owned life insurance		3,291	3,236
Goodwill		8,188	8,173
Other intangible assets	[3]	157	197
Other assets	[1]	13,359	13,089
TOTAL ASSETS		221,964	226,733
Deposits:
Noninterest-bearing		37,107	49,283
Interest-bearing		140,235	131,441
Total deposits		177,342	180,724
Short-term borrowed funds		505	3
Derivative liabilities		1,562	1,909
Long-term borrowed funds	[1]	13,467	15,887
Other liabilities	[1]	4,746	4,520
TOTAL LIABILITIES		197,622	203,043
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, 2023 and 2022		2,014	2,014
Common stock:
$0.01 par value, 1,000,000,000 shares authorized; 647,829,720 shares issued and 466,418,055 shares outstanding at December 31, 2023 and 645,220,018 shares issued and 492,282,158 shares outstanding at December 31, 2022		6	6
Additional paid-in capital		22,250	22,142
Retained earnings		9,816	9,159
Treasury stock, at cost, 181,411,665 and 152,937,860 shares at December 31, 2023 and 2022, respectively		(5,986)	(5,071)
Accumulated other comprehensive income (loss)		(3,758)	(4,560)
TOTAL STOCKHOLDERS’ EQUITY		24,342	23,690
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$ 221,964	$ 226,733
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.[2]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.[3]Excludes MSRs, which are reported in Other assets.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
ASSETS:
Fair Value	[1]	$ 29,777	$ 24,007
Debt securities held-to-maturity, fair value	[1]	8,350	9,042
Asset-backed investments included in HTM securities	[1]	$ 9,184	$ 9,834
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)		647,829,720	645,220,018
Common stock, outstanding (in shares)		466,418,055	492,282,158
Treasury stock (in shares)		181,411,665	152,937,860
Asset Pledged as Collateral
ASSETS:
Fair Value		$ 110	$ 270
Asset-backed investments included in HTM securities	[1]	$ 204	$ 110
[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, 2023	Dec. 31, 2022	Dec. 31, 2021
INTEREST INCOME:
Interest and fees on loans and leases	$ 8,489	$ 5,968	$ 4,253
Interest and fees on loans held for sale	73	67	82
Interest and fees on other loans held for sale	29	57	13
Investment securities	1,162	840	487
Interest-bearing deposits in banks	451	128	16
Total interest income	10,204	7,060	4,851
INTEREST EXPENSE:
Deposits	3,145	651	160
Short-term borrowed funds	43	23	1
Long-term borrowed funds	775	374	178
Total interest expense	3,963	1,048	339
Net interest income	6,241	6,012	4,512
Provision (benefit) for credit losses	687	474	(411)
Net interest income after provision (benefit) for credit losses	5,554	5,538	4,923
NONINTEREST INCOME:
Service charges and fees	410	420	409
Capital markets fees	319	368	428
Card fees	296	273	250
Trust and investment services fees	259	249	239
Mortgage banking fees	242	261	434
Foreign exchange and derivative products	183	188	120
Letter of credit and loan fees	168	159	156
Securities gains, net	28	9	10
Other income	78	82	89
Total noninterest income	1,983	2,009	2,135
NONINTEREST EXPENSE:
Salaries and employee benefits	2,599	2,549	2,132
Equipment and software	756	648	610
Outside services	687	700	595
Occupancy	492	410	333
Other operating expense	973	585	411
Total noninterest expense	5,507	4,892	4,081
Income before income tax expense	2,030	2,655	2,977
Income tax expense	422	582	658
NET INCOME	1,608	2,073	2,319
Net income available to common stockholders	$ 1,491	$ 1,960	$ 2,206
Weighted-average common shares outstanding:
Basic (in shares)	475,089,384	475,959,815	425,669,451
Diluted (in shares)	476,693,148	477,803,142	427,435,818
Per common share information:
Basic earnings (in dollars per share)	$ 3.14	$ 4.12	$ 5.18
Diluted earnings (in dollars per share)	$ 3.13	$ 4.10	$ 5.16

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,608	$ 2,073	$ 2,319
Other comprehensive income (loss):
Net unrealized derivative instruments gains (losses) arising during the periods, net of income taxes of ($39), ($466) and ($17), respectively	(106)	(1,340)	(49)
Reclassification adjustment for net derivative (gains) losses included in net income, net of income taxes of $161, $30 and ($34), respectively	435	85	(101)
Net unrealized debt securities gains (losses) arising during the periods, net of income taxes of $119, ($868) and ($172), respectively	350	(2,608)	(528)
Reclassification of net debt securities (gains) losses to net income, net of income taxes of $28, ($2) and ($2), respectively	83	(7)	(8)
Employee benefit plans:
Actuarial gain (loss), net of income taxes of $15, ($15) and $19, respectively	28	(37)	55
Reclassification of actuarial (gain) loss to net income, net of income taxes of $5, $2 and $7, respectively	12	12	26
Total other comprehensive income (loss), net of income taxes	802	(3,895)	(605)
Total comprehensive income (loss)	$ 2,410	$ (1,822)	$ 1,714

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net unrealized derivative instrument gains (losses) arising during the periods, tax	$ (39)	$ (466)	$ (17)
Reclassification adjustment for net derivative losses (gains) included in net income, tax	161	30	(34)
Net unrealized debt securities gains (losses) arising during the periods, tax	119	(868)	(172)
Reclassification of net debt securities gains to net income, tax	28	(2)	(2)
Actuarial (loss) gain, tax	15	(15)	19
Amortization of actuarial loss, tax	$ 5	$ 2	$ 7

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, 2020			2,000,000	427,000,000
Beginning 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)				(6,000,000)
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	$ (26)	$ 2,014	$ 6	22,142	9,159	$ (26)	(5,071)	(4,560)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to common stockholders	(808)					(808)
Dividends to preferred stockholders	$ (117)					(117)
Treasury stock purchased (in shares)	(28,473,805)			(29,000,000)
Treasury stock purchased	$ (906)							(906)
Share repurchase excise tax	(9)							(9)
Share-based compensation plans (in shares)				2,000,000
Share-based compensation plans	81				81
Employee stock purchase plan (in shares)				1,000,000
Employee stock purchase plan	27				27
Total comprehensive income (loss):
Net income	1,608					1,608
Other comprehensive income (loss)	802								802
Total comprehensive income (loss)	2,410					1,608			802
Ending balance (in shares) at Dec. 31, 2023			2,000,000	466,000,000
Ending balance at Dec. 31, 2023	$ 24,342		$ 2,014	$ 6	$ 22,250	$ 9,816		$ (5,986)	$ (3,758)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES
Net income		$ 1,608	$ 2,073	$ 2,319
Adjustments to reconcile net income to net change in cash due to operating activities:
Provision (benefit) for credit losses		687	474	(411)
Net change in loans held for sale, at fair value		98	1,733	1,085
Depreciation, amortization and accretion		478	565	625
Deferred income tax expense (benefit)		(242)	57	(429)
Share-based compensation		87	84	59
Net gain on sale of assets		(28)	(9)	(11)
Net (increase) decrease in other assets		612	(1,894)	(1,719)
Net increase (decrease) in other liabilities		(339)	1,036	757
Net change due to operating activities		2,961	4,119	2,275
Investment securities:
Purchases of debt securities available for sale		(10,087)	(10,776)	(12,406)
Proceeds from maturities and paydowns of debt securities available for sale		2,001	3,422	7,810
Proceeds from sales of debt securities available for sale		2,941	1,178	790
Proceeds from maturities and paydowns of debt securities held to maturity		761	1,035	1,006
Net (increase) decrease in interest-bearing deposits in banks		(102)	13	(10)
Acquisitions, net of cash acquired	[1]	0	(255)	(165)
Purchases of loans		0	(1,007)	(3,778)
Sales of loans		2,793	2,677	934
Net (increase) decrease in loans and leases		7,174	(7,927)	(3,177)
Capital expenditures, net		(172)	(126)	(124)
Purchases of bank-owned life insurance		0	(100)	(1,050)
Other		(61)	(771)	(316)
Net change due to investing activities		5,248	(12,637)	(10,486)
FINANCING ACTIVITIES
Net increase (decrease) in deposits		(3,382)	6,146	7,197
Net increase (decrease) in short-term borrowed funds		502	(95)	(154)
Proceeds from issuance of long-term borrowed funds		25,983	24,617	0
Repayments of long-term borrowed funds		(28,418)	(19,691)	(1,352)
Treasury stock purchased		(906)	(153)	(295)
Net proceeds from issuance of preferred stock		0	0	296
Redemption of preferred stock		0	0	(250)
Dividends paid to common stockholders		(808)	(779)	(670)
Dividends paid to preferred stockholders		(120)	(113)	(113)
Premium paid to exchange debt		0	0	(1)
Other		21	(25)	(22)
Net change due to financing activities		(7,128)	9,907	4,636
Net change in cash and cash equivalents	[2]	1,081	1,389	(3,575)
Cash and cash equivalents at beginning of period	[2]	10,547	9,158	12,733
Cash and cash equivalents at end of period	[2]	11,628	10,547	9,158
Supplemental disclosures:
Interest paid		3,640	989	347
Income taxes paid		375	183	1,247
Non-cash items:
Transfer of loans from portfolio to LHFS		2,617	0	0
Transfer of securities from AFS to HTM		0	8,563	0
Loans securitized and transferred to securities AFS		103	143	260
Investors Acquisition:
Fair value of assets acquired, excluding cash and cash equivalents		0	27,113	0
Goodwill and other intangible assets		0	992	0
Fair value of liabilities assumed		0	24,982	0
Common stock issued		0	3,036	0
Replacement equity awards		$ 0	$ 19	$ 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, LLC, respectively, for the year ended December 31, 2022.[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 acquired	287
Online Deposit Business And 80 East Coast Branches Of HSBC Bank
Cash consideration	143
DH Capital, LLC
Cash consideration	$ 23

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES Nature of Operations The Company is a regional bank holding company organized under Delaware law and headquartered in Providence, Rhode Island. Through its bank subsidiary, CBNA, the Company provides a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. The Company’s retail branch network is primarily located in the New England, Mid-Atlantic and Midwest regions, with certain lines of business serving national markets. Basis of Presentation The Consolidated Financial Statements include the accounts of Citizens and its subsidiaries, including VIEs in which Citizens is a primary beneficiary, and are presented in accordance with GAAP. Investments in VIEs in which the Company does not have the ability to exercise significant influence are not consolidated. All intercompany transactions and balances have been eliminated in consolidation. During the third quarter of 2023, the Company’s indirect auto and certain purchased consumer loan portfolios were transferred from the Consumer Banking segment into a new Non-Core segment to reflect the manner in which management is currently assessing performance and allocating resources. Prior period results have been revised to conform to the new segment presentation. See Note 26 for additional information. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change include the determination of the ACL, fair value measurements and the evaluation and measurement of goodwill impairment. 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 96 Securities 4 96 Loans and Leases 5 100 Allowance for Credit Losses and FDMs 6 102 Premises, Equipment and Software 7 116 Mortgage Servicing Rights 8 117 Leases 9 118 Goodwill and Intangible Assets 10 120 Variable Interest Entities 11 121 Derivative Instruments 14 126 Employee Benefits 15 129 Treasury Stock 17 132 Employee Share-Based Compensation 18 133 Fair Value Measurement 20 136 Revenue Recognition 21 142 Income Taxes 23 144 Earnings Per Share 24 147 Accounting Pronouncements Adopted in 2023

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	NOTE 2 - ACQUISITIONS Acquisition of HSBC On February 18, 2022, CBNA closed on its 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 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 built 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 were subject to adjustment for up to one year after the closing date as new information was 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. 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 remained 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 an allocation of the consideration paid for the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Investors: (dollars in millions, except 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 (1) 919 Total assets acquired 27,514 Liabilities assumed Deposits 20,217 Borrowed funds 4,097 Other liabilities (1) 677 Total liabilities assumed 24,991 Less: Net assets 2,523 Goodwill (1) $887 (1) Reflects purchase accounting adjustments made during 2023. Goodwill of $887 million recorded in connection with the acquisition resulted from the expected synergies, operational efficiencies and expertise of Investors. The amount of goodwill recorded reflected the increased market share and related synergies that resulted 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 Commercial Banking and Consumer Banking business operating segments and is not deductible for income tax purposes. Intangible assets from the Investors acquisition consisted of core deposits and naming rights. For additional information regarding the Company’s goodwill and intangible assets see Note 10. The following table includes the fair value and unpaid principal balance of the loans acquired from Investors: April 6, 2022 (dollars 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 as of April 6, 2022 reflected 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 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 from the date of acquisition through December 31, 2022. Investors was fully integrated into the Company’s processes and systems during the first quarter of 2023; therefore, standalone financial results for Investors are no longer available. (dollars 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, (dollars 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. (dollars 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, the Company is required to determine whether purchased loans held for investment have experienced more-than-insignificant deterioration in credit quality since origination. A variety of factors are considered 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. The amortized cost of a PCD loan is initially measured 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 was previously recorded by Investors. Subsequent to the acquisition, an ACL on non-PCD loans of $145 million was recorded through provision expense for credit losses. The following table presents PCD loan activity at the date of acquisition: (dollars in millions) April 6, 2022 Principal balance $4,685 ALLL at acquisition (101) Non-credit discount (72) Purchase price $4,512

CASH AND DUE FROM BANKS

CASH AND DUE FROM BANKS	12 Months Ended
	Dec. 31, 2023
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, 2023 or 2022.

SECURITIES

SECURITIES	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
SECURITIES	NOTE 4 - SECURITIES Investments include debt, equity and other 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 a security 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 or prepayment risk, among other factors, are classified as AFS and reported at fair value, with unrealized gains and losses, net of taxes, reported in AOCI as a separate component of stockholders’ equity. Gains and losses on the sale of AFS securities are recognized in noninterest income in the Consolidated Statements of Operations 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. Interest income for AFS and HTM debt securities is recorded on the accrual basis including the amortization of premiums and the accretion of discounts utilizing 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 held principally for sale in the near-term and carried at fair value, with changes in fair value recognized in earnings. Realized and unrealized gains and losses on such securities are reported in noninterest income in the Consolidated Statements of Operations. Equity securities primarily consist of FHLB and FRB stock carried at cost and money market mutual fund investments held by the Company’s broker-dealers carried at fair value with changes in fair value recognized in noninterest income. Equity securities are recorded in other assets on the Consolidated Balance Sheets, with those carried at cost reviewed at least annually for impairment. Valuation adjustments, to the extent necessary, are reported in noninterest income in the Consolidated Statements of Operations. The following table presents the major components of securities at amortized cost and fair value: December 31, 2023 December 31, 2022 (dollars in millions) Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and other $4,493 $26 ($139) $4,380 $3,678 $1 ($193) $3,486 State and political subdivisions 1 — — 1 2 — — 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 26,289 45 (1,857) 24,477 21,250 10 (2,198) 19,062 Other/non-agency 279 — (24) 255 280 — (29) 251 Total mortgage-backed 26,568 45 (1,881) 24,732 21,530 10 (2,227) 19,313 Collateralized loan obligations 667 — (3) 664 1,248 — (42) 1,206 Total debt securities available for sale, at fair value $31,729 $71 ($2,023) $29,777 $26,458 $11 ($2,462) $24,007 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities $8,696 $9 ($818) $7,887 $9,253 $4 ($751) $8,506 Total mortgage-backed securities 8,696 9 (818) 7,887 9,253 4 (751) 8,506 Asset-backed securities 488 — (25) 463 581 — (45) 536 Total debt securities held to maturity $9,184 $9 ($843) $8,350 $9,834 $4 ($796) $9,042 Equity securities, at cost (2) $869 $— $— $869 $1,058 $— $— $1,058 Equity securities, at fair value (2) 173 — — 173 153 — — 153 (1) Excludes portfolio level basis adjustments of $60 million for securities designated in active fair value hedge relationships. The basis adjustments represent a reduction to the amortized cost of the securities being hedged. (2) Included in other assets in the Consolidated Balance Sheets. Accrued interest receivable on debt securities totaled $125 million and $107 million as of December 31, 2023 and 2022, 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, 2023. 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 (dollars 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 $— $3,015 $1,478 $— $4,493 State and political subdivisions — — — 1 1 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — 1,599 2,157 22,533 26,289 Other/non-agency — — — 279 279 Collateralized loan obligations — — 100 567 667 Total debt securities available for sale — 4,614 3,735 23,380 31,729 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 8,696 8,696 Asset-backed securities — 488 — — 488 Total debt securities held to maturity — 488 — 8,696 9,184 Total amortized cost of debt securities $— $5,102 $3,735 $32,076 $40,913 Fair value: U.S. Treasury and other $— $2,906 $1,474 $— $4,380 State and political subdivisions — — — 1 1 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — 1,539 2,049 20,889 24,477 Other/non-agency — — — 255 255 Collateralized loan obligations — — 100 564 664 Total debt securities available for sale — 4,445 3,623 21,709 29,777 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 7,887 7,887 Asset-backed securities — 463 — — 463 Total debt securities held to maturity — 463 — 7,887 8,350 Total fair value of debt securities $— $4,908 $3,623 $29,596 $38,127 Taxable interest income from investment securities as presented in the Consolidated Statements of Operations was $1.2 billion, $840 million and $487 million for the years ended December 31, 2023, 2022 and 2021, respectively. The following table presents realized gains and losses on sale of securities: Year Ended December 31, (dollars in millions) 2023 2022 2021 Gains $36 $13 $15 Losses (8) (4) (5) Securities gains, net $28 $9 $10 The following table presents the amortized cost and fair value of debt securities pledged: December 31, 2023 December 31, 2022 (dollars 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 $5,619 $5,305 $3,966 $3,527 Pledged as collateral for FHLB borrowing capacity 242 220 244 217 Pledged against repurchase agreements — — — — The Company regularly enters into security repurchase agreements with unrelated counterparties, which involves 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, 2023 or 2022. Securitizations of mortgage loans retained in the investment portfolio for the years ended December 31, 2023 and 2022 were $102 million and $143 million, respectively. These securitizations include a substantive guarantee by a third party. The guarantors were FNMA and FHLMC in 2023 and 2022. 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, 2023 and concluded that 95% 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, 2023. 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 AFS debt securities is a decline in fair value below its amortized cost basis. The Company recognizes an impairment loss for any security that has declined in fair value below its amortized cost basis 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 on an assessment of the cash flows expected to be collected. If the present value of the 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 and Citizens must evaluate whether any impairment is attributable to credit-related factors. If credit-related factors exist, a 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 as provision expense through the establishment of an allowance for AFS securities, to the extent the allowance does not reduce the carrying 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, 2023 Less than 12 Months 12 Months or Longer Total (dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury and other $49 $— $3,245 ($139) $3,294 ($139) Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 2,939 (24) 16,398 (1,833) 19,337 (1,857) Other/non-agency — — 255 (24) 255 (24) Total mortgage-backed securities 2,939 (24) 16,653 (1,857) 19,592 (1,881) Collateralized loan obligations 56 — 607 (3) 663 (3) Total $3,044 ($24) $20,505 ($1,999) $23,549 ($2,023) December 31, 2022 Less than 12 Months 12 Months or Longer Total (dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. 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) Citizens does not currently have the intent to sell these debt securities, and it is not more likely than not that the Company will be required to sell these debt securities prior to recovery of their amortized cost bases. Citizens has determined that credit losses are not expected to be incurred on the AFS debt securities identified with unrealized losses as of December 31, 2023. The unrealized losses on these debt securities reflect non-credit-related factors driven by changes in interest rates. Therefore, the Company has determined that these debt securities are not impaired.

LOANS AND LEASES

LOANS AND LEASES	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
LOANS AND LEASES	NOTE 5 - LOANS AND LEASES Loans are classified as held for investment when management has the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. 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 and discounts on purchased loans. Deferred loan origination fees and costs and premiums and discounts on purchased loans are amortized as an adjustment of yield over the life of the loan using the effective interest method. Unamortized amounts that remain when a loan is prepaid or sold 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, which calculates periodic interest income at a constant effective yield on the net investment in the loan, providing a constant rate of return over the loan term. Loans accounted for using the fair value option are measured at fair value with corresponding changes reported in mortgage banking fees for residential mortgage LHFS and in capital markets fees for commercial LHFS in the Consolidated Statements of Operations. Commitment fees for loans that are likely to be drawn down, along with other credit-related fees, are deferred and recognized as an adjustment to the effective interest rate over the loan term. Commitment fees are recognized over the commitment period on a straight-line basis if it is unlikely that a loan will be drawn down and are reported in 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, (dollars in millions) 2023 2022 Commercial and industrial $43,826 $51,836 Commercial real estate 29,471 28,865 Leases 1,148 1,479 Total commercial 74,445 82,180 Residential mortgages 31,332 29,921 Home equity 15,040 14,043 Automobile 8,258 12,292 Education 11,834 12,808 Other retail 5,050 5,418 Total retail 71,514 74,482 Total loans and leases $145,959 $156,662 Accrued interest receivable on loans and leases held for investment totaled $875 million and $820 million as of December 31, 2023 and 2022, 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 $36.0 billion and $38.4 billion at December 31, 2023 and 2022, 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 $31.9 billion and $34.8 billion at December 31, 2023 and 2022, 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 has elected to account for residential mortgage LHFS and certain commercial LHFS at fair value. See Note 20 for additional information. The following table presents the composition of LHFS: December 31, 2023 December 31, 2022 (dollars in millions) Residential Mortgages (1) Commercial (2) Total Residential Mortgages (1) Commercial (2) Total Loans held for sale at fair value $614 $62 $676 $666 $108 $774 Other loans held for sale — 103 103 — 208 208 (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 leases equipment for commercial use with a primary focus on middle-market and mid-corporate clients for large capital equipment acquisitions including railcars, trucks and trailers, and other equipment. The determination of whether an arrangement is a lease and the related lease classification are made at lease inception. Lease terms predominantly range from three A lessee is evaluated from a credit perspective using the same underwriting standards and procedures 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 not typically 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: (dollars in millions) December 31, 2023 December 31, 2022 Total future minimum lease rentals $942 $1,193 Estimated residual value of leased equipment (non-guaranteed) 322 413 Initial direct costs 5 5 Unearned income (121) (132) Total leases $1,148 $1,479 Interest income on direct financing and sales-type leases for the years ended December 31, 2023, 2022 and 2021 was $46 million, $46 million and $49 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, 2023 is presented below: Year (dollars in millions) 2024 $258 2025 213 2026 156 2027 133 2028 84 Thereafter 98 Total undiscounted future minimum lease rentals $942

CREDIT QUALITY AND THE ALLOWANC

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES	NOTE 6 - CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES Allowance for Credit Losses The Company’s estimate of expected credit losses in its loan and lease portfolios is recorded in the ACL and considers extensive historical loss experience, including the impact of loss mitigation and restructuring programs that the Company offers to borrowers experiencing financial difficulty, as well as projected loss severity as a result of loan default. The ACL is maintained at a level the Company believes to be appropriate to absorb expected lifetime credit losses over the contractual life of a loan or lease and on unfunded lending commitments. The determination of the ACL is based on periodic evaluation of loan and lease portfolios and unfunded lending commitments that are not unconditionally cancellable. A number of relevant underlying factors, including key assumptions and the evaluation of quantitative and qualitative information, are considered. 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 by assessing 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 generally grouped 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 loans, timing and amount of expected draws for unfunded lending commitments, FICO, LTV, and term for retail loans. The mix and level of loan balances, delinquency levels, assigned risk ratings, previous loss experience, current business conditions, amount and timing of expected future cash flows, and factors specific to commercial credits such as competition, business and management performance are also considered. Forward-looking economic assumptions include real GDP, unemployment rate, interest rate curve, and changes in collateral values. This data is accumulated to estimate expected credit losses over the contractual life of the loans and leases, adjusted for expected prepayments. Historical information, such as financial statements for commercial customers or consumer credit ratings, may not be as important to estimating future expected losses as forecasted inputs to the models during volatile economic time periods. The ACL may also be affected by a variety of qualitative factors that the Company considers that are not measured in the statistical procedures including uncertainty related to economic forecasts, loan growth, backtesting 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 determined and applied across the portfolio. Certain loan portfolios don’t require an econometric model to calculate expected credit losses. For these portfolios, approaches that are less data intensive and non-modeled are utilized to estimate credit losses as they are considered more efficient and practical for portfolios that have outstanding balances that are not material (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 are assessed on an individual loan level basis. Generally, measurement of the ACL on an individual loan or lease 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 substantially through the operation or sale of the underlying collateral, rather than by cash flows from the borrower’s operations, income or other resources. Generally, this occurs when cash flows to repay the loan from all other available sources, including guarantors, are expected to be no more than nominal. 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, which 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 decrease to the ACL would be limited to the total amount previously written off for a given loan or lease. Collateral values for residential mortgage and home equity loans are based on appraisals, which are updated every 90 days at a minimum, less estimated costs to sell. At December 31, 2023 and 2022, the Company had collateral-dependent residential mortgage and home equity loans totaling $556 million and $561 million, respectively. Commercial loans are secured by various types of collateral, including real estate, inventory, equipment, accounts receivable, securities and cash, among others. Collateral values are generally based on appraisals for commercial real estate loans, which are updated based on management judgment on a case-by-case basis. At December 31, 2023 and 2022, the Company had collateral-dependent commercial loans totaling $233 million and $21 million, respectively. The amortized cost basis of mortgage loans collateralized by residential real estate for which formal foreclosure proceedings were in-process was $336 million and $250 million as of December 31, 2023 and 2022, respectively. Expected recoveries are considered in management’s estimate of the ACL and may result in a reduction to the ACL balance. A negative ACL for a collateral dependent loan exists if the fair value of the collateral increases in a subsequent reporting period and 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. 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, are considered to estimate 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 in the allowance for loan and lease losses and other liabilities, respectively, in the Consolidated Balance Sheets . The provision for credit losses related to loan and lease portfolios and unfunded lending commitments is reported in provision (benefit) for credit losses in the Consolidated Statements of Operations. 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, workout/restructuring expectations of the loan and valuation of the borrower’s equity or 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, credit card and unsecured open-end loans are generally charged-off in the month when the account becomes 180 days past due. Auto, education 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 written down to their net realizable value earlier in the following circumstances: • FDMs that are determined to be collateral dependent. • 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 written 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, 2023: Year Ended December 31, 2023 (dollars in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $1,060 $923 $1,983 Charge-offs (285) (472) (757) Recoveries 18 130 148 Net charge-offs (267) (342) (609) Provision expense (benefit) for loans and leases 457 267 724 Allowance for loan and lease losses, end of period 1,250 848 2,098 Allowance for unfunded lending commitments, beginning of period 207 50 257 Provision expense (benefit) for unfunded lending commitments (32) (5) (37) Allowance for unfunded lending commitments, end of period 175 45 220 Total allowance for credit losses, end of period $1,425 $893 $2,318 During the year ended December 31, 2023, net charge-offs of $609 million and a provision for expected credit losses of $687 million resulted in an increase of $78 million to the ACL. Our ACL as of December 31, 2023 accounts for an economic forecast over our two-year reasonable and supportable period with peak unemployment of approximately 5% and peak-to-trough GDP decline of approximately 0.4%. This forecast reflects a mild recession over the two-year reasonable and supportable period. The following tables present a summary of changes in the ACL for the years ended December 31, 2022 and 2021: Year Ended December 31, 2022 (dollars 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. Year Ended December 31, 2021 (dollars 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 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. Renewals are categorized as new credit decisions and reflect the renewal date as the vintage date, except for renewals of loans modified for borrowers experiencing financial difficulty, or FDMs, which are presented in the original vintage. Citizens utilizes internal risk ratings to monitor credit quality for commercial loans and leases. These ratings are assigned at loan origination and are periodically reevaluated utilizing a risk-based approach, annually at a minimum, or any time management becomes aware of information affecting a borrower’s ability to fulfill their obligations. The reevaluation process considers both quantitative and qualitative factors. The following categories are utilized to develop the ACL: • Pass - includes obligations where the probability of default is considered low and repayment in full is expected in accordance with the contractual loan terms; • Special Mention - includes obligations that have potential weakness that, if left uncorrected, may result in deterioration of the Company’s credit position at some future date; • Substandard Accrual - includes obligations that have well-defined weaknesses that could hinder normal repayment or collection of the debt, but are currently performing; • Nonaccrual - includes obligations where management has determined that full payment of principal and interest is in doubt. For more information on nonaccrual loans and leases see “Nonaccrual and Past Due Assets” below. For commercial and industrial loans, the performance of the borrower is monitored in a disciplined and regular manner based upon the level of credit risk inherent in the loan. To evaluate the level of credit risk, an internal risk rating is assigned 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 annually at a minimum. The combination of the PD and LGD assigned ratings, which reflect credit quality characteristics as of the reporting date and are used as inputs into the loss forecasting process, capture both the expectation of default and loss severity in the event of default. Each loan is periodically reviewed by management based on the amount of the lending arrangement and risk rating assessment, with priority given to those loans which are perceived to be of higher risk, or loans for which credit quality is weakening (e.g., payment delinquency). Loans are proactively managed by utilizing various procedures that are customized to the risk of a given loan, including ongoing outreach to the borrower, assessment of the borrower’s financial condition and appraisal of the collateral. Credit risk associated with commercial real estate loans is managed similar to commercial and industrial loans by evaluating PD and LGD. Risks associated with commercial real estate activities are typically correlated to the loan structure, collateral location, project progress and business environment. As a result, these attributes are monitored and utilized in assessing credit risk. 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. Credit risk associated with leases is managed similar to commercial and industrial loans by evaluating 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 without a new credit decision. Citizens generally reserves the right to not renew the loan or lease until current underwriting is completed and approved. The following table presents the amortized cost basis of commercial loans and leases by vintage date and internal risk rating as of December 31, 2023, and gross charge-offs by vintage date for the year ended December 31, 2023: Term Loans by Origination Year Revolving Loans (dollars in millions) 2023 2022 2021 2020 2019 Prior to 2019 Within the Revolving Period Converted to Term Total Commercial and industrial Pass $3,599 $6,338 $5,049 $1,254 $1,085 $2,031 $21,033 $53 $40,442 Special Mention 59 194 354 29 48 113 368 — 1,165 Substandard Accrual 5 175 325 212 121 284 792 11 1,925 Nonaccrual 1 72 51 4 5 102 53 6 294 Total commercial and industrial 3,664 6,779 5,779 1,499 1,259 2,530 22,246 70 43,826 Gross charge-offs 1 3 34 4 1 34 44 — 121 Commercial real estate Pass 1,906 5,791 6,062 2,555 2,294 3,895 1,975 8 24,486 Special Mention — 713 539 222 183 260 75 — 1,992 Substandard Accrual — 277 203 469 528 939 100 — 2,516 Nonaccrual 1 66 2 23 144 238 3 — 477 Total commercial real estate 1,907 6,847 6,806 3,269 3,149 5,332 2,153 8 29,471 Gross charge-offs — — — 56 13 95 — — 164 Leases Pass 95 174 282 191 62 268 — — 1,072 Special Mention — 27 1 1 2 — — — 31 Substandard Accrual 3 14 12 6 4 3 — — 42 Nonaccrual — — 3 — — — — — 3 Total leases 98 215 298 198 68 271 — — 1,148 Gross charge-offs — — — — — — — — — Total commercial Pass 5,600 12,303 11,393 4,000 3,441 6,194 23,008 61 66,000 Special Mention 59 934 894 252 233 373 443 — 3,188 Substandard Accrual 8 466 540 687 653 1,226 892 11 4,483 Nonaccrual 2 138 56 27 149 340 56 6 774 Total commercial (1) $5,669 $13,841 $12,883 $4,966 $4,476 $8,133 $24,399 $78 $74,445 Gross charge-offs $1 $3 $34 $60 $14 $129 $44 $— $285 (1) In the fourth quarter of 2023, the Company revised its presentation of commercial loans and leases by vintage date and internal risk rating to reflect how the Company currently manages the commercial credit portfolio. The Company now reports Substandard Accrual and Nonaccrual ratings, replacing previously reported ratings of Substandard and Doubtful, respectively. The prior period presentation was revised to conform to the new presentation. For more information regarding the Company’s internal risk ratings, see “Credit Quality Indicators” above. The following table presents the amortized cost basis of commercial loans and leases by vintage date and internal risk rating as of December 31, 2022: Term Loans by Origination Year Revolving Loans (dollars 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 Accrual 148 210 194 254 97 330 554 12 1,799 Nonaccrual 12 22 10 6 43 33 119 4 249 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 Accrual 91 15 75 248 346 591 23 — 1,389 Nonaccrual 1 5 13 60 4 20 — — 103 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 Accrual — 4 3 3 — — — — 10 Nonaccrual — — — — — — — — — 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 Accrual 239 229 272 505 443 921 577 12 3,198 Nonaccrual 13 27 23 66 47 53 119 4 352 Total commercial (1) $14,715 $15,843 $6,633 $6,280 $4,245 $7,076 $27,221 $167 $82,180 (1) In the fourth quarter of 2023, the Company revised its presentation of commercial loans and leases by vintage date and internal risk rating to reflect how the Company currently manages the commercial credit portfolio. The Company now reports Substandard Accrual and Nonaccrual ratings, replacing previously reported ratings of Substandard and Doubtful, respectively. The prior period presentation was revised to conform to the new presentation. For more information regarding the Company’s internal risk ratings, see “Credit Quality Indicators” above. 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 current FICO score as of December 31, 2023, and gross charge-offs by vintage date for the year ended December 31, 2023: Term Loans by Origination Year Revolving Loans (dollars in millions) 2023 2022 2021 2020 2019 Prior to 2019 Within the Revolving Period Converted to Term Total Residential mortgages 800+ $889 $3,067 $5,172 $3,117 $1,131 $3,125 $— $— $16,501 740-799 1,333 1,940 2,560 1,411 592 1,625 — — 9,461 680-739 367 631 758 466 266 873 — — 3,361 620-679 54 135 165 90 121 445 — — 1,010 <620 9 48 104 95 161 561 — — 978 No FICO available (1) 1 — 2 1 3 14 — — 21 Total residential mortgages 2,653 5,821 8,761 5,180 2,274 6,643 — — 31,332 Gross charge-offs — — — 1 1 4 — — 6 Home equity 800+ — 4 4 1 4 91 5,078 222 5,404 740-799 — 1 2 1 3 82 4,708 241 5,038 680-739 1 1 1 2 5 93 2,693 202 2,998 620-679 — 1 1 2 8 77 718 137 944 <620 — 2 1 1 10 80 332 230 656 Total home equity 1 9 9 7 30 423 13,529 1,032 15,040 Gross charge-offs — — — — — 3 8 1 12 Automobile 800+ 81 539 1,062 368 162 47 — — 2,259 740-799 134 671 1,038 375 165 52 — — 2,435 680-739 147 577 708 252 118 39 — — 1,841 620-679 94 316 345 112 65 26 — — 958 <620 44 232 291 100 66 32 — — 765 No FICO available (1) — — — — — — — — — Total automobile 500 2,335 3,444 1,207 576 196 — — 8,258 Gross charge-offs 3 34 41 14 12 9 — — 113 Education 800+ 296 671 1,637 1,418 600 1,185 — — 5,807 740-799 368 694 1,050 850 369 678 — — 4,009 680-739 143 289 333 273 134 298 — — 1,470 620-679 30 65 68 58 32 107 — — 360 <620 5 18 25 23 15 55 — — 141 No FICO available (1) 10 — 1 — — 36 — — 47 Total education 852 1,737 3,114 2,622 1,150 2,359 — — 11,834 Gross charge-offs — 5 19 25 17 45 — — 111 Other retail 800+ 183 70 38 35 16 18 500 — 860 740-799 258 87 46 45 21 19 963 1 1,440 680-739 214 76 39 39 18 11 973 2 1,372 620-679 118 48 23 19 6 4 419 2 639 <620 31 35 18 14 4 2 251 2 357 No FICO available (1) 7 1 — 1 — — 373 — 382 Total other retail 811 317 164 153 65 54 3,479 7 5,050 Gross charge-offs 49 24 8 8 11 9 121 — 230 Total retail 800+ 1,449 4,351 7,913 4,939 1,913 4,466 5,578 222 30,831 740-799 2,093 3,393 4,696 2,682 1,150 2,456 5,671 242 22,383 680-739 872 1,574 1,839 1,032 541 1,314 3,666 204 11,042 620-679 296 565 602 281 232 659 1,137 139 3,911 <620 89 335 439 233 256 730 583 232 2,897 No FICO available (1) 18 1 3 2 3 50 373 — 450 Total retail $4,817 $10,219 $15,492 $9,169 $4,095 $9,675 $17,008 $1,039 $71,514 Gross charge-offs $52 $63 $68 $48 $41 $70 $129 $1 $472 (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 current FICO score as of December 31, 2022: Term Loans by Origination Year Revolving Loans (dollars 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). Nonaccrual and Past Due Assets Nonaccrual loans and leases are those on which accrual of interest is 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 a loan is placed on nonaccrual status the accrued interest receivable is reversed against interest income and the amortization of any net deferred fees is suspended. Interest collected on nonaccrual loans and leases for which the ultimate collectability of principal is uncertain are generally applied to reduce the carrying value of the asset first. Otherwise, interest income may be recognized to the extent of the cash received if the loan is deemed fully collectible. A loan or lease may be returned to accrual status if: • no principal and interest payments are due and unpaid, and repayment of the remaining contractual principal and interest is expected; • the loan or lease has otherwise become well-secured and in the process of collection; or • the borrower has made regularly scheduled payments in full for the prior six months and it is reasonably assured that the loan or lease will be brought 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 accrual 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 due to 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, 2023 and 2022: December 31, 2023 Days Past Due and Accruing (dollars in millions) Current 30-59 60-89 90+ Nonaccrual Total Nonaccrual with no related ACL Commercial and industrial $43,447 $61 $18 $6 $294 $43,826 $30 Commercial real estate 28,745 150 59 40 477 29,471 71 Leases 1,144 1 — — 3 1,148 — Total commercial 73,336 212 77 46 774 74,445 101 Residential mortgages (1) 30,499 282 118 256 177 31,332 144 Home equity 14,640 82 33 — 285 15,040 198 Automobile 8,005 144 48 — 61 8,258 7 Education 11,732 49 23 2 28 11,834 3 Other retail 4,899 49 34 29 39 5,050 — Total retail 69,775 606 256 287 590 71,514 352 Total $143,111 $818 $333 $333 $1,364 $145,959 $453 Guaranteed residential mortgages (1) $675 $128 $76 $243 $— $1,122 $— (1) Guaranteed residential mortgages represent loans fully or partially guaranteed by the FHA, VA and USDA, and are included in the amounts presented for Residential mortgages. December 31, 2022 Days Past Due and Accruing (dollars 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 Guaranteed residential mortgages (1) $789 $57 $34 $316 $— $1,196 $— (1) Guaranteed residential mortgages represent loans fully or partially guaranteed by the FHA, VA and USDA, and are included in the amounts presented for Residential mortgages. Loan Modifications to Borrowers Experiencing Financial Difficulty Effective January 1, 2023, the Company adopted accounting guidance that eliminates the separate recognition and measurement of TDRs. Upon adoption of this guidance, all loan modifications to borrowers experiencing financial difficulty, or FDMs, are evaluated to determine whether the modification should be accounted for as a new loan or a continuation of the existing loan. The existing loan is derecognized and the restructured loan is accounted for as a new loan if the effective yield on the restructured loan is at least equal to the effective yield for comparable loans with similar collection risk and the modification to the original loan is more than minor. Any unamortized fees and costs from the original loan are recognized in interest income when the new loan is granted. If a loan restructuring does not meet these conditions, the existing loan’s amortized cost basis is carried forward and the modified loan is accounted for as a continuation of

PREMISES, EQUIPMENT, AND SOFTWA

PREMISES, EQUIPMENT, AND SOFTWARE	12 Months Ended
	Dec. 31, 2023
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 and improvements is capitalized. 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 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) 2023 2022 Land and land improvements 10 - 75 $143 $144 Buildings and leasehold improvements 5 - 60 875 879 Furniture, fixtures and equipment 4 - 20 613 622 Construction in progress 77 61 Total premises and equipment, gross 1,708 1,706 Accumulated depreciation and amortization (813) (862) Total premises and equipment, net $895 $844 Depreciation charged to noninterest expense totaled $115 million, $107 million and $98 million for the years ended December 31, 2023, 2022 and 2021, 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, which is based on the basic pattern of consumption and economic benefits provided by the asset. The amortization of software commences 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 in the Consolidated Balance Sheets. Citizens had capitalized software assets of $2.6 billion and related accumulated amortization of $1.7 billion as of December 31, 2023 and 2022. Amortization expense was $254 million, $243 million and $235 million for the years ended December 31, 2023, 2022 and 2021, respectively. The estimated future amortization expense for capitalized software assets is presented below. Year (dollars in millions) 2024 $237 2025 199 2026 136 2027 79 2028 23 Thereafter — Total (1) $674 (1) Excludes $215 million of in-process software at December 31, 2023.

MORTGAGE BANKING AND OTHER SERV

MORTGAGE BANKING AND OTHER SERVICED LOANS	12 Months Ended
	Dec. 31, 2023
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 and 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, (dollars in millions) 2023 2022 2021 Cash proceeds from residential mortgage loans sold with servicing retained $9,124 $17,025 $37,039 Repurchased residential mortgages (1) — 87 1,381 Gain on sales (2) 72 86 382 Contractually specified servicing, late and other ancillary fees (2) 309 287 247 (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, when purchased or when servicing is contractually separated from the underlying mortgage loans sold with servicing rights retained. MSRs are reported in other assets in the Consolidated Balance Sheets. 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 $97.4 billion and $96.7 billion at December 31, 2023 and 2022, respectively. The Company manages the risk associated with changes in the value of the MSRs with an active economic 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, (dollars in millions) 2023 2022 Fair value as of beginning of the period $1,530 $1,029 Amounts capitalized 127 279 Servicing rights acquired — 16 Changes in unpaid principal balance during the period (1) (166) (137) Changes in fair value during the period (2) 61 343 Fair value at end of the period $1,552 $1,530 (1) 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. (2) 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. 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 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, 2023 December 31, 2022 Fair value $1,552 $1,530 Weighted average life (years) 8.8 9.1 Weighted average constant prepayment rate 7.2% 6.8% Decline in fair value from 10% adverse change $37 $34 Decline in fair value from 20% adverse change $71 $66 Weighted average option adjusted spread 630 bps 629 bps Decline in fair value from 10% adverse change $43 $43 Decline in fair value from 20% adverse change $87 $86 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 Citizens engages in other servicing relationships from time to time. The following table presents the unpaid principal balance of other serviced loans: (dollars in millions) December 31, 2023 December 31, 2022 Education $502 $602 Commercial and industrial (1) 94 91 (1) Represents the government guaranteed portion of SBA loans sold to outside investors.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
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 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. In instances where the lease does not specify an implicit rate, the Company utilizes 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. The Company leases both equipment and real estate, including office and branch space, in the normal course of business. 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. Lease components are accounted for as a single lease component when lease agreements contain lease and non-lease components and for certain real estate leases. Leases with an initial term of 12 months or less are not recorded in 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 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, (dollars in millions) 2023 2022 2021 Operating lease cost $221 $216 $161 Short-term lease cost 2 2 1 Variable lease cost 5 7 8 Sublease income (1) (1) (4) Total $227 $224 $166 Operating lease cost is recognized on a straight-line basis over the lease term and is recorded in occupancy and equipment and software 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, 2023 December 31, 2022 Affected Line Item in Consolidated Balance Sheets Operating lease right-of-use assets $885 $1,019 Other assets Operating lease liabilities 977 1,066 Other liabilities Weighted average remaining lease term (years) 7 7 — Weighted average discount rate 3.10 % 2.74 % — Year Ended December 31, (dollars in millions) 2023 2022 2021 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $232 $219 $163 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 64 408 79 Lease liabilities maturing under non-cancelable operating leases are presented below as of December 31, 2023. Year (dollars in millions) 2024 $210 2025 201 2026 161 2027 140 2028 111 Thereafter 262 Total lease payments 1,085 Less: Interest 108 Present value of lease liabilities $977 Citizens as Lessor Operating lease assets where Citizens was the lessor totaled $254 million and $260 million as of December 31, 2023 and 2022, respectively. Operating lease rental income associated with these assets is recognized in other income in the Consolidated Statements of Operations on a straight-line basis over the lease term. Depreciation expense associated with operating lease assets is recorded on a straight-line basis over their estimated useful life and is included in other operating expense in the Consolidated Statements of Operations. Operating lease assets are reviewed for impairment on a periodic basis, with an impairment loss recognized in other operating expense if the carrying amount of the leased asset exceeds its fair value and is not recoverable. The carrying amount of a leased asset is not recoverable if its carrying value exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value of the asset. For a discussion of direct finance and sales-type leases where Citizens is the lessor, see Note 5.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2023
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. The Company 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. Goodwill no longer retains its association with a particular acquisition once assigned to a reporting unit, 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 subject to an annual impairment test and not amortized. Goodwill is reviewed 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, a quantitative assessment of goodwill must be performed. The Company may elect to bypass the qualitative assessment and perform a quantitative assessment, which is used to identify potential impairment and 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 not to be impaired. If the carrying value of the reporting unit inclusive of goodwill exceeds fair value, an impairment loss is recognized for the excess, establishing a new basis in the goodwill, and cannot exceed the amount of goodwill assigned to the reporting unit. Subsequent reversal of goodwill impairment losses is not permitted. The fair value of the Company’s reporting units is determined using a combination of income and market-based approaches. The Company relies on several assumptions to estimate the fair value of its reporting units under the income-based approach including discount rate, projected loan losses, income tax and capital retention rates. The Company performed a quantitative goodwill impairment assessment in the fourth quarter of 2023 as part of its annual impairment assessment. Based on this quantitative assessment, the Company concluded that the estimated fair value of the Consumer Banking and Commercial Banking reporting units exceeded their carrying value; therefore, the Company determined that there was no impairment to the carrying value of its goodwill as of December 31, 2023. The Commercial Banking reporting unit’s fair value exceeded its carrying value by approximately 10%. The Company monitored events and circumstances during the period from October 31, 2023 through December 31, 2023, including macroeconomic and market factors, industry and banking sector events, Company-specific performance indicators, a comparison of the Company’s forecast and assumptions to those used in its October 31, 2023 quantitative impairment test, and the sensitivity of the October 31, 2023 quantitative test results to changes in assumptions through December 31, 2023. Based on these considerations, the Company concluded that it was not more-likely-than-not that the fair value of either of its reporting units is below its respective carrying amount as of December 31, 2023. Changes in the carrying value of goodwill for the years ended December 31, 2023 and 2022 are presented below. (dollars in millions) Consumer Banking Commercial Banking Total 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 Business acquisitions 5 10 15 Balance at December 31, 2023 $2,678 $5,510 $8,188 Accumulated impairment losses related to the Consumer Banking and Commercial Banking reporting units totaled $5.9 billion and $50 million, respectively, at December 31, 2023 and 2022. No impairment was recorded for the years ended December 31, 2023, 2022 or 2021. 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, 2023 December 31, 2022 (dollars in millions) Amortizable Lives (years) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Core deposits 10 $144 $44 $100 $144 $20 $124 Acquired technology 5 - 7 23 21 2 23 19 4 Acquired relationships 2 - 15 52 26 26 54 21 33 Naming Rights 5 - 10 33 12 21 33 7 26 Other 2 - 8 18 10 8 17 7 10 Total $270 $113 $157 $271 $74 $197 As of December 31, 2023, all of the Company’s intangible assets were being amortized. Amortization expense recognized on intangible assets was $42 million, $41 million and $11 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company’s projection of amortization expense is based on balances as of December 31, 2023. Future amortization expense may vary from these projections. Estimated intangible asset amortization expense for the next five years is as follows: Year (dollars in millions) 2024 $35 2025 32 2026 28 2027 24 2028 17

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
VARIABLE INTEREST ENTITIES	NOTE 11 - VARIABLE INTEREST ENTITIES Citizens, in the normal course of business, engages in a variety of activities with entities that are considered VIEs, as defined by GAAP, with its variable interest arising from contractual, ownership or other monetary interests in the entity. A VIE typically does not have sufficient equity at risk to finance its activities without additional subordinated financial support from other parties. Citizens is the primary beneficiary of a VIE, and must consolidate it, if its variable interest provides it with the power to direct the activities that significantly impact the VIE and it has the right to receive benefits, or the obligation to absorb losses, that could potentially be significant to the VIE. Citizens considers both qualitative and quantitative factors regarding the nature, size and form of its involvement with the VIE to determine whether or not a variable interest held is significant to the VIE. Citizens assesses whether or not it is the primary beneficiary of a VIE on an ongoing basis. Transfers of financial assets in which the Company has not surrendered control over the transferred assets are accounted for as a secured borrowing with a pledge of collateral. Control is generally considered surrendered when 1) the transferred assets are legally isolated from the Company and its creditors, even in bankruptcy, 2) the transferee has the right to pledge or exchange the transferred assets it received, with no condition that constrains the transferee from taking advantage of this right or that provides more than a trivial benefit to the Company, and 3) the Company does not maintain effective control over the transferred financial assets. Judgment is required to assess whether the Company maintains effective control over transferred financial assets. Consolidated VIEs The Company has consolidated VIEs related to secured borrowings collateralized by auto loans. The following table summarizes the carrying amount of assets and liabilities for the Company’s consolidated VIEs: (dollars in millions) December 31, 2023 Assets: Cash and due from banks $13 Interest-bearing deposits in banks 106 Net loans and leases 3,194 Other assets 14 Total assets $3,327 Liabilities: Long-term borrowed funds $2,692 Other liabilities 8 Total liabilities $2,700 Secured Borrowings Citizens utilizes a portion of its auto loan portfolio to support certain secured borrowing arrangements, which provide a source of funding for the Company and involves the transfer of auto loans to bankruptcy remote special purpose entities (“SPEs”). These SPEs then issue asset-backed notes to third-parties collateralized by the transferred loans. Citizens holds certain residual interests in the loans and, therefore, has a right to receive benefits or the obligation to absorb losses that could potentially be significant to the SPEs. In addition, the Company retains servicing for the transferred loans and, therefore, holds the power to direct the most significant activities that impact the economic performance of the SPEs. As a result, the Company concluded that it is the primary beneficiary of these SPEs and, accordingly, consolidates these VIEs. The assets of a particular VIE are the primary source of funds to settle its obligations. Creditors of these VIEs do not have recourse to the general credit of the Company. The performance of the loans transferred to the SPEs is the most significant driver impacting the economic performance of the VIEs. Unconsolidated VIEs Citizens is involved with various VIEs that are not consolidated, including investments in entities that sponsor affordable housing, renewable energy and economic development projects, and asset-backed securities. In addition, Citizens provides lending facilities 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 investments, unfunded commitments, and the outstanding principal balance of loans to special purpose entities. A summary of these investments is presented below: December 31, (dollars in millions) 2023 2022 Lending to special purpose entities included in loans and leases $4,760 $4,578 LIHTC investment included in other assets 2,444 2,230 LIHTC unfunded commitments included in other liabilities 1,025 1,046 Asset-backed investments included in HTM securities 488 581 Renewable energy investments included in other assets 314 374 NMTC investments included in other assets 3 4 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 and maintains responsibility for any associated servicing commitments, Citizens is not the primary beneficiary of these entities. Accordingly, Citizens does not consolidate these VIEs. As of December 31, 2023 and 2022, the lending facilities had undrawn commitments to extend credit of $2.7 billion and $2.4 billion, respectively. For more information on commitments to extend credit see Note 19. 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 the primary servicer for the sold loans and receives a servicing fee. A third-party servicer is responsible for all loans that become significantly delinquent. The Company’s 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 it is not the primary beneficiary of this VIE. Accordingly, Citizens does not consolidate the VIE. Low Income Housing Tax Credit Partnerships The purpose of the Company’s LIHTC 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. Renewable Energy Entities The Company’s investments in certain renewable energy entities provide benefits from government incentives and other tax attributes (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. Contingent commitments related to the Company’s renewable energy investments were $67 million at December 31, 2023, and are expected to be paid in varying amounts through 2026. These payments are contingent upon the level of electricity production attained by the renewable energy entity relative to its targeted threshold and changes in the production tax credit rates set by the Internal Revenue Service. New Markets Tax Credit Program The Company participates in the NMTC program which provides a tax incentive for private sector investment into economic development projects and businesses located in low-income communities. The United States Department of the Treasury oversees the program and it is directly administered by the Community Development Financial Institutions Fund. The Company’s investments in entities that sponsor economic development projects provide income tax credits to offset federal taxable income over a specified period of time. Independent third parties manage these entities and have the power to direct the activities which most significantly affect their performance. Therefore, Citizens is not the primary beneficiary of these entities and does not consolidate these VIEs as a result. The Company applies the proportional amortization method to account for its LIHTC investments. Effective January 1, 2023, the Company made an election to account for its renewable energy and NMTC investments using the proportional amortization method under newly adopted accounting guidance. Under the proportional amortization method, the Company applies a practical expedient for its LIHTC and NMTC investments and amortizes the initial cost of qualifying investments in proportion to the income tax credits received in the current period as compared to the total income tax credits expected to be received over the life of the investment. For renewable energy investments, the Company amortizes the initial cost of qualifying investments in proportion to the income tax credits and other income tax benefits received in the current period as compared to the total income tax credits and other income tax benefits expected to be received over the life of the investment. The net amortization and income tax credits and other income tax benefits received are included as a component of income tax expense (benefit). The following table summarizes the impact to the Consolidated Statements of Operations relative to the Company’s tax credit programs for which it has elected to apply the proportional amortization method of accounting: Year Ended December 31, (dollars in millions) 2023 2022 2021 Tax credits recognized $334 $236 $202 Other tax benefits recognized 71 59 48 Amortization (320) (247) (208) Net benefit (expense) included in income tax expense 85 48 42 Other income 5 — — Allocated income (loss) on investments (10) — — Net benefit (expense) included in noninterest income (5) — — Net benefit (expense) included in the Consolidated Statements of Operations (1) $80 $48 $42 (1) Includes the impact of tax credit investments when the election to apply the proportional amortization method was in effect during the periods presented. For 2023, this includes LIHTC, renewable energy and NMTC investments, and for 2022 and 2021, includes LIHTC investments. The Company did not recognize impairment losses resulting from the forfeiture or ineligibility of income tax credits or other circumstances during the years ended December 31, 2023, 2022 and 2021.

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
DEPOSITS	NOTE 12 - DEPOSITS The following table presents the major components of deposits: December 31, (dollars in millions) 2023 2022 Demand $37,107 $49,283 Money market 53,812 49,905 Checking with interest 31,876 39,721 Savings 27,983 29,805 Term 26,564 12,010 Total deposits $177,342 $180,724 The following table presents the maturity distribution of term deposits by year as of December 31, 2023: Year (dollars in millions) 2024 $25,529 2025 866 2026 74 2027 59 2028 33 2029 and thereafter 3 Total $26,564 The following table presents the remaining maturities of term deposits with a denomination of $250,000 or more as of December 31, 2023: (dollars in millions) Three months or less $2,559 After three months through six months 1,527 After six months through twelve months 1,358 After twelve months 229 Total term deposits $5,673

BORROWED FUNDS

BORROWED FUNDS	12 Months Ended
	Dec. 31, 2023
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, (dollars in millions) 2023 2022 Other short-term borrowed funds $505 $3 Total short-term borrowed funds $505 $3 Long-term borrowed funds The following table presents a summary of the Company’s long-term borrowed funds: December 31, (dollars in millions) 2023 2022 Parent Company: 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 499 498 2.500% fixed-rate senior unsecured notes, due February 2030 298 298 3.250% fixed-rate senior unsecured notes, due April 2030 746 746 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 60 61 2.638% fixed-rate subordinated debt, due September 2032 563 556 5.641% fixed-rate reset subordinated debt, due May 2037 398 397 CBNA’s Global Note Program: 3.700% senior unsecured notes, due March 2023 (1) — 497 5.676% floating-rate senior unsecured notes, due March 2023 (1)(2) — 250 2.250% senior unsecured notes, due April 2025 749 748 4.119% fixed/floating-rate senior unsecured notes, due May 2025 649 648 6.064% fixed/floating-rate senior unsecured notes, due October 2025 599 598 5.284% fixed/floating-rate senior unsecured notes, due January 2026 349 — 3.750% senior unsecured notes, due February 2026 483 475 4.575% fixed/floating-rate senior unsecured notes, due August 2028 798 797 Additional Borrowings by CBNA and Other Subsidiaries: Federal Home Loan Bank advances, 5.570% weighted average rate, due through 2041 (3) 3,786 8,519 Secured borrowings, 6.026% weighted average rate, due through 2030 (3)(4) 2,692 — Other 18 19 Total long-term borrowed funds $13,467 $15,887 (1) Notes were redeemed on February 27, 2023. (2) Rate disclosed reflects the floating rate as of December 31, 2023, or final floating rate as applicable. (3) Rate disclosed reflects the weighted average rate as of December 31, 2023. (4) Collateralized by auto loans. See Note 11 for additional information. At December 31, 2023, the Company’s long-term borrowed funds include principal balances of $13.6 billion, unamortized debt issuance costs and discounts of $74 million, and hedging basis adjustments of ($17) million. At December 31, 2022, the Company’s long-term borrowed funds include principal balances of $16.0 billion, unamortized debt issuance costs and discounts of $85 million, and hedging basis adjustments of ($27) million. 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 sufficient to satisfy the collateral maintenance level established by the FHLB. The utilized FHLB borrowing capacity, primarily for advances and letters of credit, was $9.2 billion and $15.7 billion at December 31, 2023 and 2022, respectively. The Company’s available FHLB borrowing capacity was $15.9 billion and $11.5 billion at December 31, 2023 and 2022, 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, 2023, the Company’s unused secured borrowing capacity was approximately $69.0 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, 2023: (dollars in millions) Parent Company CBNA and Other Subsidiaries Consolidated Year 2024 $107 $363 $470 2025 469 5,771 6,240 2026 499 2,019 2,518 2027 — 5 5 2028 — 1,745 1,745 2029 and thereafter 2,269 220 2,489 Total $3,344 $10,123 $13,467

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	NOTE 14 - DERIVATIVES In the normal course of business, Citizens enters into derivative transactions to meet the financing and hedging needs of its customers and 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 reported at fair value in the Consolidated Balance Sheets as derivative assets and derivative liabilities. 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 that become our counterparty. OTC-cleared derivative instruments are typically settled in cash each day based on their value from the previous day. 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 in the Consolidated Balance Sheets if a “right of setoff” is 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 is pledged or received in accordance with a master netting agreement. The following table presents derivative instruments included in the Consolidated Balance Sheets: December 31, 2023 December 31, 2022 (dollars in millions) Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate contracts $86,895 $173 $44 $42,250 $16 $53 Derivatives not designated as hedging instruments: Interest rate contracts 185,993 291 1,105 174,384 331 1,579 Foreign exchange contracts 32,528 434 378 29,475 527 519 Commodities contracts 1,251 685 640 1,103 953 942 TBA contracts 2,337 3 16 2,370 7 14 Other contracts 549 7 — 913 5 4 Total derivatives not designated as hedging instruments 222,658 1,420 2,139 208,245 1,823 3,058 Total gross derivatives 309,553 1,593 2,183 250,495 1,839 3,111 Less: Gross amounts offset in the Consolidated Balance Sheets (1) (471) (471) (623) (623) Less: Cash collateral applied (1) (682) (150) (374) (579) Total net derivatives presented in the Consolidated Balance Sheets $440 $1,562 $842 $1,909 (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 facilitation 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. All hedging relationships are formally documented at inception, as well as risk management objectives and strategies for undertaking various accounting hedges. In addition, the effectiveness of hedge relationships is monitored during the duration of the hedge period. The methods utilized to assess hedge effectiveness vary based on the hedge relationship and each relationship is monitored to ensure that management’s initial intent continues to be satisfied. Hedge accounting treatment is discontinued when the derivative is terminated or when it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge. Changes in the fair value of a derivative are reflected 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. During 2023, the Company entered into fair value hedges to manage interest rate risk within the AFS securities portfolio. 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, (dollars in millions) 2023 2022 2021 Affected Line Item in the Consolidated Statements of Operations Interest rate swaps hedging long-term borrowed funds $10 ($69) ($72) Interest expense - long-term borrowed funds Hedged long-term borrowed funds attributable to the risk being hedged (10) 68 71 Interest expense - long-term borrowed funds Interest rate swaps hedging LHFS — 13 — Interest and fees on other loans held for sale Hedged LHFS attributable to the risk being hedged — (13) — Interest and fees on other loans held for sale Interest rate swaps hedging debt securities available for sale (48) 29 68 Interest income - investment securities Hedged debt securities available for sale attributable to risk being hedged 50 (29) (68) 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, 2023 December 31, 2022 (dollars in millions) Debt securities available for sale (1) Long-term borrowed funds Debt securities available for sale Long-term borrowed funds Carrying amount of hedged assets $7,253 $— $— $— Carrying amount of hedged liabilities — 483 — 972 Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items 60 (17) — (27) (1) Includes the amortized cost basis of closed portfolios used to designate hedging relationships under the portfolio layer method. The hedged item is a layer of the closed portfolio which is expected to be remaining at the end of the hedging relationship. As of December 31, 2023, the amortized cost basis of the closed portfolios used in these hedging relationships was $5.9 billion, including associated cumulative basis adjustments of $39 million, and the amount of the designated hedging instruments was $4.0 billion. 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 are deemed highly effective cash flow hedges. The Company has also entered into certain interest rate option agreements that utilize interest rate floors and caps, or some combination thereof, providing the ability to hedge the variability in cash flows within different interest rate bands. Option premiums paid and received are excluded from the assessment of hedge effectiveness and are 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, (dollars in millions) 2023 2022 2021 Amount of pre-tax net gains (losses) recognized in OCI ($145) ($1,806) ($66) Amount of pre-tax net gains (losses) reclassified from AOCI into interest income (596) (111) 183 Amount of pre-tax net gains (losses) reclassified from AOCI into interest expense — (4) (48) Using the interest rate curve at December 31, 2023 with respect to cash flow hedge strategies, the Company estimates that approximately $914 million in pre-tax net losses will be reclassified from AOCI to net interest income over the next 12 months, including $460 million related to terminated swaps. 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, 2023. Derivatives not designated as hedging instruments The Company offers derivatives to customers in connection with their risk management needs. These derivatives primarily consist of interest rate, foreign exchange and commodity derivative contracts. Market risk exposure from customer transactions is primarily managed by entering into a variety of hedging transactions with third-party dealers. Gains and losses on customer-related derivatives are reported in foreign exchange and derivatives products in the Consolidated Statements of Operations. Residential mortgage loans that will be sold in the secondary market and the related loan commitments, which are considered derivatives, are accounted for at fair value. Changes in the fair value of the loans and related commitments due to interest rate risk are hedged with forward contracts to sell mortgage-backed securities. Gains and losses on the loans and related commitments, and the derivatives used to economically hedge them, are reported in mortgage banking fees in the Consolidated Statements of Operations. Residential MSRs are accounted for at fair value. Derivatives utilized to hedge the fair value of residential MSRs include interest rate futures, swaps, options, and forward contracts to purchase mortgage-backed securities. Gains and losses on residential MSRs and the related derivatives are reported in mortgage banking fees in the Consolidated Statements of Operations. 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 (dollars in millions) 2023 2022 2021 Economic hedge type: Customer interest rate contracts ($505) ($2,027) ($374) Foreign exchange and derivative products Derivatives hedging interest rate risk 551 2,090 401 Foreign exchange and derivative products Customer foreign exchange contracts 94 (180) (207) Foreign exchange and derivative products Derivatives hedging foreign exchange risk 14 313 305 Foreign exchange and derivative products Customer commodity contracts (900) 1,121 779 Foreign exchange and derivative products Derivatives hedging commodity price risk 941 (1,097) (770) Foreign exchange and derivative products Residential loan commitments (34) (284) (208) Mortgage banking fees Derivatives hedging residential loan commitments and mortgage LHFS, at fair value 25 489 152 Mortgage banking fees Derivative contracts used to hedge residential MSRs (33) (313) (150) Mortgage banking fees Total $153 $112 ($72)

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFITS	NOTE 15 - EMPLOYEE BENEFIT PLANS Pension and Other Postretirement 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 the Employee Retirement Income Security Act of 1974. 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 well as postretirement benefit plans. As part of the Investors acquisition in 2022, 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 (dollars in millions) 2023 2022 2023 2022 Fair value of plan assets as of January 1 $1,182 $1,390 $— $— Return on plan assets 169 (262) — — Employer contributions — — 5 8 Benefits and administrative expenses paid (70) (76) (5) (8) Fair value of plan assets from Investors acquisition — 130 — — Fair value of plan assets as of December 31 1,281 1,182 — — Projected benefit obligation 880 868 99 94 Pension asset (obligation) $401 $314 ($99) ($94) Accumulated benefit obligation $880 $868 $99 $94 Actuarial losses related to the Pension Plans recognized in AOCI at December 31, 2023 and 2022 were $446 million and $504 million, respectively. In 2024, Citizens does not plan to contribute to the Qualified Plans and expects to contribute $10 million to the Non-Qualified Plans. The following table presents the components of net periodic benefit cost (income) 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 (dollars in millions) 2023 2022 2021 2023 2022 2021 2023 2022 2021 Service cost $4 $3 $3 $— $— $— $4 $3 $3 Interest cost 46 34 31 5 3 3 51 37 34 Expected return on plan assets (92) (93) (85) — — — (92) (93) (85) Amortization of actuarial loss 15 11 14 2 3 3 17 14 17 Settlement — — 15 — — — — — 15 Net periodic benefit cost (income) (1) (27) (45) (22) 7 6 6 (20) (39) (16) Net actuarial loss (gain) (44) 71 (73) 1 (19) (1) (43) 52 (74) Amortization of actuarial loss (15) (11) (14) (2) (3) (3) (17) (14) (17) Settlement — — (15) — — — — — (15) Total recognized in OCI (59) 60 (102) (1) (22) (4) (60) 38 (106) Total recognized in net periodic benefit cost (income) and OCI ($86) $15 ($124) $6 ($16) $2 ($80) ($1) ($122) (1) In the Consolidated Statements of Operations, service cost is presented in salaries and employee benefits and all other components of net periodic benefit cost (income) 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 benefit 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: (dollars in millions) Expected benefit payments by fiscal year ending: December 31, 2024 $73 December 31, 2025 74 December 31, 2026 75 December 31, 2027 75 December 31, 2028 75 December 31, 2029 - 2033 366 401(k) Plan Citizens sponsors a 401(k) Plan under which employee contributions are matched by the Company dollar for dollar up to 4% after the employee completes of one year of service. In addition, substantially all employees will receive an additional 1.5% of their eligible earnings after completion of one year of service, subject to limits set by the Internal Revenue Service. Amounts expensed by the Company were $78 million in 2023 compared to $86 million in 2022 and $63 million in 2021.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2023
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: (dollars in millions) Net Unrealized Gains (Losses) on Derivatives Net Unrealized Gains (Losses) on Debt Securities Employee Benefit Plans Total AOCI Balance at January 1, 2021 ($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) Other comprehensive income (loss) before reclassifications (106) 350 28 272 Amounts reclassified to the Consolidated Statements of Operations 435 83 12 530 Net other comprehensive income (loss) 329 433 40 802 Balance at December 31, 2023 ($1,087) ($2,338) ($333) ($3,758) Primary location in the Consolidated Statements of Operations of amounts reclassified from AOCI Net interest income Securities gains, net and Net interest income Other operating expense

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 17 - STOCKHOLDERS’ EQUITY Preferred Stock The following table summarizes the Company’s preferred stock: December 31, 2023 2022 (dollars in millions, except per 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, 2023: 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. CME Term SOFR plus 3.265% beginning July 6, 2023 (6) 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. CME Term SOFR plus 3.419% beginning April 6, 2024 (6) 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. CME Term SOFR plus 3.904% beginning April 6, 2024 (6) 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. (6) Effective July 1, 2023, Series B through D transitioned from three-month USD LIBOR to three-month CME Term SOFR, plus a tenor spread adjustment of 0.26161%, as their benchmark replacement rate during their respective floating-rate periods due to the cessation of LIBOR on June 30, 2023. Dividends The following tables summarize the Company’s dividend activity for the years ended December 31, 2023, 2022 and 2021. Year Ended December 31, 2023 2022 2021 (dollars 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 $1.68 $808 $808 $1.62 $779 $779 $1.56 $670 $670 Preferred stock Series A $— $— $— $— $— $— $20.99 $5 $8 Series B 74.49 22 25 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 19 19 63.50 18 18 Series E 50.00 22 22 50.00 22 22 50.00 23 23 Series F 56.50 23 23 56.50 23 23 56.50 23 23 Series G 40.00 12 12 40.00 12 12 22.78 7 4 Total preferred stock $117 $120 $113 $113 $113 $113 Treasury Stock The purchase of the Company’s common stock is recorded at cost. Upon retirement, or if subsequently reissued, 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, 2023 and 2022, the Company repurchased $906 million, or 28,473,805 shares, and repurchased $153 million, or 3,815,922 shares, respectively, of its outstanding common stock, which are held in treasury stock.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2023
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 was 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 the 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. This plan provides eligible employees an opportunity to purchase CFG 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 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, 2023 2022 2021 Units Weighted-Average Grant Price Units Weighted-Average Grant Price Units Weighted-Average Grant Price Outstanding, January 1 3,876,601 $43.06 3,502,956 $38.23 3,496,231 $34.37 Assumed — — — — 82,013 49.95 Granted 2,575,234 39.88 1,844,352 48.12 1,417,370 44.97 Vested & Distributed (1,729,136) 40.84 (1,359,543) 37.47 (1,400,722) 38.88 Forfeited (149,042) 42.92 (111,164) 43.36 (91,936) 35.00 Outstanding, December 31 4,573,657 $42.23 3,876,601 $43.06 3,502,956 $38.23 There are 40,750,357 shares of common stock available for awards to be granted under the Omnibus Plan and Directors Plan. In addition, there are 2,991,009 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 (i.e., 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. Share-based compensation expense was $87 million, $84 million and $59 million for the years ended December 31, 2023, 2022 and 2021, respectively. At December 31, 2023, the total unrecognized compensation expense for unvested awards granted was $76 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 $16 million, $19 million and $12 million for the years ended December 31, 2023, 2022 and 2021, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
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, (dollars in millions) 2023 2022 Commitments to extend credit $94,201 $96,076 Letters of credit 1,977 2,119 Loans sold with recourse 96 92 Marketing rights 18 23 Risk participation agreements 3 4 Total $96,295 $98,314 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 amount of allowances for unfunded commitments. Standby letters of credit and commercial letters of credit are issued for terms of up to two 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, 2023, the remaining terms on these RPAs ranged from less than one year to ten 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, 2023
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. Fair value is also 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. Fair value measurement guidance is also applied 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 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. Fair value accounting is applied to these loans since the Company holds these loans with the intent to sell them in the near-term. 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, 2023 December 31, 2022 (dollars 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 LHFS, at fair value $614 $593 $21 $666 $656 $10 Commercial and industrial, and commercial real estate LHFS, at fair value 62 69 (7) 108 127 (19) 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 observable in the marketplace. Credit risk does not have a significant impact on the valuation of these loans as they are sold shortly after origination. Residential mortgage LHFS are classified as Level 2 in the fair value hierarchy given the observable market inputs utilized to value these loans. 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 in the Consolidated Statements of Operations. 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. External pricing services that provide fair value estimates based on quotes from various dealers transacting in the market, sector curves or benchmarking techniques are also utilized. Commercial and industrial, and commercial real estate loans managed by the commercial secondary loan desk are classified as Level 2 in the fair value hierarchy given the observable market inputs utilized to value these loans. These commercial 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 in the Consolidated Statements of Operations. Changes in the fair value of the commercial trading portfolio are due to changes in credit risk since the portfolio is comprised of floating-rate obligations only. These credit-related 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 LHFS is calculated based on the contractual interest rate of the loan and is recorded in interest income in the Consolidated Statements of Operations. Recurring Fair Value Measurements Fair value is measured 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, if available, or observable market-based inputs or independently sourced parameters if quoted prices are not available. Inputs may include prices for similar assets or liabilities, yield curves, interest rates, prepayment speeds, and foreign exchange rates. The Company carries certain assets and liabilities at fair value, including AFS securities, derivative instruments and other investment securities. In addition, the Company has elected to account for its residential mortgage LHFS and loans managed by the commercial secondary loan trading desk at fair value. Assets and liabilities carried at fair value are classified 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. Fair value hierarchy classifications are reviewed and updated on a quarterly basis. Changes 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. A variety of valuation techniques are utilized to measure the Company’s assets and liabilities at fair value on a recurring basis, with those utilized for significant assets and liabilities presented below: Debt securities available for sale AFS debt securities are classified as Level 1 in the fair value hierarchy if quoted prices in active markets are available. Classes of securities that are valued using this market approach include debt securities issued by the U.S. Treasury. The fair value of a security is estimated under the market or income approach using pricing models if quoted market prices are not available. These securities are classified as Level 2 since they trade in active markets and the inputs to their valuations are observable. The pricing models used to value securities generally commence with market prices, or rates, for similar instruments, with adjustments made 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 securities that are valued using this market approach include pooled mortgage “pass-through” securities, collateralized loan obligations, and other debt securities issued by U.S. GSEs and state and political subdivisions. The pricing models used to value securities under the income approach generally commence with the contractual cash flows of each security, with adjustments made 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 majority of the Company’s Level 1 and 2 debt securities are priced using an external pricing service. The pricing accuracy of this service is verified on a quarterly basis and involves the use of a secondary external vendor to provide valuations for the Company’s securities portfolio for comparison purposes. Any valuation discrepancies exceeding 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 and, therefore, are classified as Level 3 since their valuation utilizes significant unobservable inputs. The fair value is determined using a discounted cash flow model, which includes assumptions associated with weighted-average life, prepayment speed, 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. Refer to Note 8 for more information. Derivatives The Company’s interest rate derivatives are traded in OTC markets where quoted market prices are not readily available. Fair value is determined through models that primarily use market observable inputs, such as swap rates and yield curves. These pricing models determine 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 derivative instrument. The pricing models do not contain a high level of subjectivity as the methodologies used do not require significant judgment. Certain adjustments to the modeled price that market participants would make when pricing each instrument are also considered, including a credit valuation adjustment that reflects the credit quality of the derivative counterparty. The effect of exposure to a particular counterparty’s credit is incorporated by netting their derivative contracts with the available collateral and calculating a credit valuation adjustment on the basis of the net position with the counterparty where permitted. 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 derivative portfolio . Therefore, interest rate derivatives are classified as Level 2 in the fair value hierarchy. The fair value of commodity derivatives uses the mid-point of market observable quoted prices as an input into the fair value model. These observed market prices, combined with other market observed inputs to derive the fair value of the instrument, generally classifies the commodity derivative as a Level 2 instrument. The fair value of foreign exchange derivatives uses the mid-point of daily quoted currency spot prices. The valuation model estimates fair value based on these quoted prices along 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 TBA contracts are classified as Level 2 in the fair value hierarchy given the observable market inputs. Other contracts primarily consist of interest rate lock commitments, which are valued utilizing loan closing rate assumptions that are internally generated. These assumptions are a significant unobservable input and, therefore, interest rate lock commitments 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 on 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, 2023: (dollars in millions) Total Level 1 Level 2 Level 3 Debt securities available for sale: Mortgage-backed securities $24,732 $— $24,732 $— Collateralized loan obligations 664 — 664 — State and political subdivisions 1 — 1 — U.S. Treasury and other 4,380 4,380 — — Total debt securities available for sale 29,777 4,380 25,397 — Loans held for sale, at fair value: Residential loans held for sale 614 — 614 — Commercial loans held for sale 62 — 62 — Total loans held for sale, at fair value 676 — 676 — Mortgage servicing rights 1,552 — — 1,552 Derivative assets: Interest rate contracts 464 — 464 — Foreign exchange contracts 434 — 434 — Commodities contracts 685 — 685 — TBA contracts 3 — 3 — Other contracts 7 — — 7 Total derivative assets 1,593 — 1,586 7 Equity securities, at fair value (1) 115 115 — — Total assets $33,713 $4,495 $27,659 $1,559 Derivative liabilities: Interest rate contracts $1,149 $— $1,149 $— Foreign exchange contracts 378 — 378 — Commodities contracts 640 — 640 — TBA contracts 16 — 16 — Other contracts — — — — Total derivative liabilities 2,183 — 2,183 — Total liabilities $2,183 $— $2,183 $— (1) Excludes investments of $58 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 investments include capital contributions to private investment funds and have unfunded capital commitments of $28 million at December 31, 2023, 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, 2022: (dollars 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 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 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, 2023 2022 (dollars in millions) Mortgage Servicing Rights Other Derivative Contracts Mortgage Servicing Rights Other Derivative Contracts Beginning balance $1,530 $1 $1,029 $38 Issuances 127 64 279 93 Acquisitions (1) — — 16 — Settlements (2) (166) (24) (137) 154 Changes in fair value during the period recognized in earnings (3) 61 (34) 343 (284) Ending balance $1,552 $7 $1,530 $1 (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 interest rate lock commitments. (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, 2023 As of December 31, 2022 Valuation Technique Unobservable Input Range (Weighted Average) Range (Weighted Average) Mortgage servicing rights Discounted Cash Flow Constant prepayment rate 6.70-14.55% CPR (7.23% CPR) 6.19-17.80% CPR (6.80% CPR) Option adjusted spread 398-1,058 bps (630 bps) 398-1,058 bps (629 bps) Other derivative contracts Internal Model Pull through rate 24.90-99.70% (80.34%) 28.62-99.90% (83.71%) MSR value (8.90)-141.24 bps (88.04 bps) (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: Collateral-Dependent Loans The carrying amount of collateral-dependent loans is compared to the appraised value of the collateral less costs to dispose and is classified as Level 2. Any excess of the 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, (dollars in millions) 2023 2022 2021 Collateral-dependent loans ($138) ($4) ($27) The following table presents assets measured at fair value on a nonrecurring basis: December 31, 2023 December 31, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Collateral-dependent loans $789 $— $789 $— $582 $— $582 $— 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, 2023 Total Level 1 Level 2 Level 3 (dollars 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 $9,184 $8,350 $— $— $8,696 $7,887 $488 $463 Other loans held for sale 103 103 — — — — 103 103 Net loans and leases (1) 143,861 140,504 — — 789 789 143,072 139,715 Other assets 869 869 — — 851 851 18 18 Financial liabilities: Deposits 177,342 177,096 — — 177,342 177,096 — — Short-term borrowed funds 505 505 — — 505 505 — — Long-term borrowed funds 13,467 13,012 — — 13,467 13,012 — — December 31, 2022 Total Level 1 Level 2 Level 3 (dollars 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 Net loans and leases (1) 154,679 151,601 — — 582 582 154,097 151,019 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 — — (1) During 2023, the Company revised its presentation of the loans and leases portfolio from a gross to net basis to better align with its presentation on the Consolidated Balance Sheets. The prior period presentation was revised to conform to the new presentation.

NONINTEREST INCOME

NONINTEREST INCOME	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
NONINTEREST INCOME	NOTE 21 - NONINTEREST INCOME Revenues from Contracts with Customers Revenue from contracts with customers is recognized based on the amount of consideration expected to be received upon the transfer of control of a good or service. The timing of recognition is dependent on whether a performance obligation is satisfied by transferring control of the product or service to a customer over time or at a point in time. Judgments made include the timing of when performance obligations are satisfied and determination of the transaction price. The following tables present the components of revenue from contracts with customers disaggregated by revenue stream and business operating segment: Year Ended December 31, 2023 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Service charges and fees $277 $131 $— $1 $409 Card fees 244 47 — — 291 Capital markets fees — 293 — — 293 Trust and investment services fees 259 — — — 259 Other banking fees 3 11 — — 14 Total revenue from contracts with customers $783 $482 $— $1 $1,266 Total revenue from other sources (1) 284 302 — 131 717 Total noninterest income $1,067 $784 $— $132 $1,983 Year Ended December 31, 2022 (dollars in millions) Consumer Banking Commercial Banking Non-Core 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 (dollars in millions) Consumer Banking Commercial Banking Non-Core 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 (1) Includes bank-owned life insurance income of $93 million, $88 million and $67 million for the years ended December 31, 2023, 2022 and 2021, 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, 2023. 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 deposit transactions performed by customers, and fees earned for cash management activities. Service charges on deposit products are recognized over the period in which the related service is provided and 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 as the services are provided. Card Fees Card fees include interchange income from credit and debit card transactions and are recognized 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 upon completion of the transaction. Costs related to card reward programs are recognized in current earnings as the rewards are earned by the customer and are presented as a reduction to card fees in 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 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 in the Consolidated Statements of Operations. Advisory fees for mergers and acquisitions are recognized over time, while valuation services and fairness opinions are recognized upon completion of the advisory service. Trust and Investment Services Fees Trust and investment services fees include fees from investment management 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 services. Custody fees are recognized on a monthly basis and commission income is recognized 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 when the asset balance is known, or the renewal occurs and the income is no longer constrained. For the years ended December 31, 2023, 2022 and 2021, the Company recognized trailing commissions of $15 million, $15 million and $16 million, respectively, related to ongoing commissions from previous investment sales. Fees from other investment services are recognized upon completion of the service. O ther Banking Fees Other banking fees include fees for various banking transactions such as letter of credit fees, foreign wire transfers and other 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 include fees received from letter of credit agreements as well as loan fees received from lending activities that cannot be deferred. These fees are recognized upon execution of the contract. Foreign Exchange and Derivative Products Foreign exchange and derivative products primarily include 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 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, or losses, on the sale of residential mortgages originated with the intent to sell and servicing fees on mortgages serviced by the Company. Mortgage banking fees also include valuation adjustments for mortgage LHFS 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. Other Income Bank-owned life insurance is stated at its cash surrender value. Citizens is the beneficiary of life insurance policies on current and former officers 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 recognized under the life insurance policy for the period.

OTHER OPERATING EXPENSE

OTHER OPERATING EXPENSE	12 Months Ended
	Dec. 31, 2023
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, (dollars in millions) 2023 2022 2021 Marketing $187 $166 $111 Deposit insurance 390 96 66 Other 396 323 234 Other operating expense $973 $585 $411

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 23 - INCOME TAXES Income taxes are accounted for under the asset and liability method, 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 while deferred income tax expense results from changes in gross deferred tax assets and liabilities between periods. Gross deferred tax assets and liabilities represent changes in taxes expected to be paid in the future due to the reversal of temporary differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases. Citizens assesses the probability that positions taken, or expected to be taken, in its income tax returns will be sustained by taxing authorities. A “more likely than not” (i.e., 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, (dollars in millions) 2023 2022 2021 Income tax expense $422 $582 $658 Tax effect of changes in OCI 289 (1,319) (199) Total comprehensive income tax expense (benefit) $711 ($737) $459 The following table presents the components of income tax expense: (dollars in millions) Current Deferred Total Year Ended December 31, 2023 U.S. federal $497 ($135) $362 State and local 167 (107) 60 Total $664 ($242) $422 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 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, 2023 2022 2021 (dollars in millions) Amount Rate Amount Rate Amount Rate U.S. federal income tax expense and tax rate $426 21.0 % $558 21.0 % $625 21.0 % Increase (decrease) resulting from: State and local income taxes (net of federal benefit) 58 2.9 133 5.0 126 4.2 Bank-owned life insurance (20) (1.0) (19) (0.7) (14) (0.5) Tax-exempt interest (12) (0.6) (8) (0.3) (7) (0.2) Tax advantaged investments (including related credits) (77) (3.8) (102) (3.8) (95) (3.2) Other tax credits (3) (0.1) (9) (0.3) (7) (0.2) Adjustments for uncertain tax positions 5 0.2 1 — 3 0.1 Non-deductible FDIC insurance premiums 35 1.7 20 0.7 14 0.5 Legacy tax matters — — 3 0.1 — — Other 10 0.5 5 0.2 13 0.4 Total income tax expense and effective tax rate $422 20.8 % $582 21.9 % $658 22.1 % The following table presents the significant components of the Company’s deferred tax assets and liabilities: December 31, (dollars in millions) 2023 2022 Deferred tax assets: Other comprehensive income $1,291 $1,546 Allowance for credit losses 555 511 Federal and state net operating and capital loss carryforwards 79 77 Accrued expenses 1,152 863 Investment and other tax credit carryforwards 130 131 Other 9 19 Total deferred tax assets 3,216 3,147 Valuation allowance (137) (133) Deferred tax assets, net of valuation allowance 3,079 3,014 Deferred tax liabilities: Leasing transactions 297 287 Amortization of intangibles 421 413 Depreciation 532 470 Pension and other employee compensation plans 130 128 Partnerships 12 87 Deferred Income 3 12 MSRs 252 203 Total deferred tax liabilities 1,647 1,600 Net deferred tax asset (liability) $1,432 $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 amount that management concludes is more likely than not to be realized. At December 31, 2023, the Company had federal and state tax net operating loss carryforwards of $651 million and capital loss carryforwards of $152 million. The majority of the federal and state tax net operating loss carryforwards, if not utilized, will expire in varying amounts through 2042, while the capital loss and tax credit carryforwards expire in varying amounts through 2027 and 2030, respectively. Limitations on the ability to realize these carryforwards are reflected in the associated valuation allowance. At December 31, 2023, the Company had a valuation allowance of $137 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 a portion of the deferred tax assets related to these items will not be realized. 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, 2023, 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 any portion of this reserve to become taxable. The Company 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 2016. The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits: December 31, (dollars in millions) 2023 2022 2021 Balance at the beginning of the year $6 $7 $4 Gross increase for tax positions related to current year 1 — 1 Gross increase for tax positions related to prior years 1 — 3 Decrease for tax positions as a result of the lapse of the statutes of limitations — — (1) Decrease for tax positions related to settlements with taxing authorities (1) (1) — Balance at end of year $7 $6 $7 Tax positions are measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority. The difference between the benefit recognized 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. Interest and penalties related to unrecognized tax benefits are reported in income tax expense in the Consolidated Statements of Operations. The Company’s liability for accrued interest related to unrecognized tax benefits was $4 million as of December 31, 2023 and immaterial as of December 31, 2022. In addition, the income tax expense recognized for interest related to unrecognized tax benefits was $3 million for the year ended December 31, 2023 and immaterial for the years ended December 31, 2022 and 2021. No amounts were accrued for penalties as of December 31, 2023 and 2022, and no penalties were recognized in income tax expense during the years ended December 31, 2023, 2022 and 2021.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2023
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 less preferred stock dividends. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period, inclusive of potential dilutive shares such as share-based payment awards and warrants using the treasury stock method. Year Ended December 31, (dollars in millions, except per share data) 2023 2022 2021 Numerator (basic and diluted): Net income $1,608 $2,073 $2,319 Less: Preferred stock dividends 117 113 113 Net income available to common stockholders $1,491 $1,960 $2,206 Denominator: Weighted-average common shares outstanding - basic 475,089,384 475,959,815 425,669,451 Dilutive common shares: share-based awards 1,603,764 1,843,327 1,766,367 Weighted-average common shares outstanding - diluted 476,693,148 477,803,142 427,435,818 Earnings per common share: Basic $3.14 $4.12 $5.18 Diluted (1) 3.13 4.10 5.16 (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 2,210,857, 949,606 and 2,929 for the years ended December 31, 2023, 2022 and 2021, respectively.

REGULATORY MATTERS

REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2023
Mortgage Banking [Abstract]
REGULATORY MATTERS	NOTE 25 - REGULATORY MATTERS As a BHC and FHC, the Company 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 4.0% 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 regulatory 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 (dollars in millions) Amount Ratio Amount Ratio (1) As of December 31, 2023 CET1 capital CFG $18,358 10.6 % $14,671 8.5 % CBNA 19,411 11.3 12,047 7.0 Tier 1 capital CFG 20,372 11.8 17,260 10.0 CBNA 19,411 11.3 14,628 8.5 Total capital CFG 23,608 13.7 20,712 12.0 CBNA 22,453 13.0 18,070 10.5 Tier 1 leverage CFG 20,372 9.3 8,784 4.0 CBNA 19,411 8.9 8,759 4.0 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 (1) Represents minimum requirement under the current capital framework plus the SCB of 4.0% 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 the 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, and 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. Dividends payable by CBNA, as a national bank subsidiary, are limited to the lesser of the amount calculated under a “recent earnings” test and an “undivided profits” test. Under the recent earnings test, a dividend may not be paid if the total of all dividends declared during any calendar year exceeds the sum of current year net income and retained net income of the two preceding years, less any required transfers to surplus, unless the national bank obtains the approval of the OCC. Under the undivided profits test, a dividend may not be paid in excess of the entity’s “undivided profits” (generally accumulated net profits that have not been paid out as dividends or transferred to surplus). Federal banking regulatory agencies have issued policy statements that provide that FDIC-insured depository institutions and their holding companies should generally pay dividends only out of current operating earnings.

BUSINESS OPERATING SEGMENTS

BUSINESS OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2023
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 three business operating segments are Consumer Banking, Commercial Banking, and Non-Core. The business operating segments are determined based on the products and services provided, or the type of customer served. Each business operating segment has a segment head who reports directly to the Chief Executive Officer, who has final authority over resource allocation decisions and performance assessment. The business operating segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer. Developing and applying methodologies used to allocate items among the business operating segments is a dynamic process. Accordingly, financial results may be revised periodically as management systems are enhanced, methods of evaluating performance or product lines are updated, or our organizational structure changes. See Note 1 for a description of segment changes made during 2023. Reportable Segments Segment results are determined based upon the Company’s organizational and management structure, with balance sheet and statement of operations items assigned to each of the business segments. The results are not necessarily comparable with similar information reported by other financial institutions. A description of each reportable business operating segment is presented below: Consumer Banking The Consumer Banking segment serves consumer customers and small businesses with annual revenues of up to $25 million. It offers traditional banking products and services including deposits, mortgage and home equity lending, credit cards, business loans, education loans, point-of-sale finance loans, and wealth management and investment services. Citizens Private Bank, launched during 2023, integrates wealth management and banking services to serve high net-worth individuals and families, as well as businesses. The segment’s distribution channels include a branch network, ATMs and a workforce of experienced specialists covering lending, savings and investment needs as well as a broad range of small business products and services. 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 serves companies and institutions with annual revenues of $25 million to more than $3.0 billion and strives to be a trusted advisor to its clients and preferred provider for their banking needs. A broad complement of financial products and solutions are offered, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as syndicated loans, corporate finance, mergers and acquisitions, and debt and equity capital markets capabilities. The segment focuses on middle-market companies, large corporations and institutions and has dedicated teams with industry and product expertise in Aerospace, Defense and Government Services, Communications, Transportation and Logistics, Food and Restaurants, Human Capital Management, and Gaming. While the segment’s business development efforts are predominantly focused in the Company’s footprint, some of its specialized industry businesses also operate on a national basis. A key component of Commercial Banking’s growth strategy is to present clients with ideas that help their businesses thrive and, in doing so, expand the breadth and depth of our banking relationship with them. Non-Core The Non-Core segment includes the Company’s indirect auto and certain purchased consumer loan portfolios that were transferred from the Consumer Banking segment into this newly created segment during 2023. This new segment reflects the manner in which management is currently assessing performance and allocating resources and aligns with the Company’s recently announced balance sheet optimization strategy to discontinue the origination of certain non-strategic lending portfolios. 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 the Company’s Consumer Banking, Commercial Banking, or Non-Core segments as well as treasury and community development. Management accounting practices utilized by the Company to measure the performance and produce the results of its segments include the following: Funds Transfer Pricing The Company’s FTP, a component of net interest income, ensures consistent business segment pricing behavior by removing interest rate risk from business performance. This risk is centrally managed within the Treasury function and reported in Other non-segment operations. Business operating segments are provided an interest credit for funding it generates and an interest charge for assets it holds. The sum of interest income/expense and FTP charges/credits for each business operating segment is its designated net interest income. The offset to FTP charges and credits is recorded in Other non-segment operations. The Company employs a matched maturity FTP methodology for the Consumer Banking and Commercial Banking business operating segments with rates based on a product’s repricing frequency and interest sensitivity, as well as other factors. The FTP charge for the Non-Core business operating segment is based on an implied reference pool of high-cost funding sources. This method applies a waterfall marginal funding approach referencing the Company’s secured borrowings collateralized by auto loans, FHLB advances, and various other higher-cost deposit sources required to fully debt-fund the assets. Provision for credit losses The provision for credit losses for each business operating segment is based on actual net charge-offs recognized by the business operating segment. The difference between the consolidated provision for credit losses and total net charge-offs for all business operating segments is reflected in Other non-segment operations. Income taxes Income taxes are assessed to each business operating segment 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. Expenses Noninterest expenses incurred by centrally-managed operations or business lines that directly support the operations of another business line are charged to the applicable business line based on its utilization of those services. Goodwill Goodwill is allocated to the Consumer Banking and Commercial Banking business operating segments for impairment testing purposes. Substantially all revenues generated and long-lived assets held by the Company’s business operating segments are derived from customers that reside in the United States. No business operating segment earns revenue from a single external customer that represents ten percent or more of the Company’s total revenues. Year Ended December 31, 2023 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Net interest income $4,187 $2,292 ($129) ($109) $6,241 Noninterest income 1,067 784 — 132 1,983 Total revenue 5,254 3,076 (129) 23 8,224 Noninterest expense 3,542 1,295 123 547 5,507 Profit (loss) before provision (benefit) for credit losses 1,712 1,781 (252) (524) 2,717 Provision (benefit) for credit losses 280 250 78 79 687 Income (loss) before income tax expense (benefit) 1,432 1,531 (330) (603) 2,030 Income tax expense (benefit) 373 378 (86) (243) 422 Net income (loss) $1,059 $1,153 ($244) ($360) $1,608 Total average assets $72,693 $76,028 $13,745 $59,755 $222,221 Year Ended December 31, 2022 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Net interest income $3,649 $2,103 $378 ($118) $6,012 Noninterest income 1,063 845 — 101 2,009 Total revenue 4,712 2,948 378 (17) 8,021 Noninterest expense 3,255 1,223 136 278 4,892 Profit (loss) before provision (benefit) for credit losses 1,457 1,725 242 (295) 3,129 Provision (benefit) for credit losses 174 46 52 202 474 Income (loss) before income tax expense (benefit) 1,283 1,679 190 (497) 2,655 Income tax expense (benefit) 328 375 48 (169) 582 Net income (loss) $955 $1,304 $142 ($328) $2,073 Total average assets $68,027 $74,919 $18,121 $53,994 $215,061 Year Ended December 31, 2021 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Net interest income $2,943 $1,706 $594 ($731) $4,512 Noninterest income 1,223 809 — 103 2,135 Total revenue 4,166 2,515 594 (628) 6,647 Noninterest expense 2,857 973 130 121 4,081 Profit (loss) before provision (benefit) for credit losses 1,309 1,542 464 (749) 2,566 Provision (benefit) for credit losses 162 156 23 (752) (411) Income (loss) before income tax expense (benefit) 1,147 1,386 441 3 2,977 Income tax expense (benefit) 292 300 112 (46) 658 Net income (loss) $855 $1,086 $329 $49 $2,319 Total average assets $57,916 $57,617 $17,592 $51,981 $185,106

PARENT COMPANY FINANCIALS

PARENT COMPANY FINANCIALS	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY FINANCIALS	NOTE 27 - PARENT COMPANY FINANCIALS Condensed Balance Sheets (dollars in millions) December 31, 2023 December 31, 2022 ASSETS: Cash and due from banks $2,864 $1,821 Loans and advances to: Bank subsidiary 1,152 1,153 Nonbank subsidiaries 154 135 Investments in subsidiaries: Bank subsidiary 23,289 23,674 Nonbank subsidiaries 291 302 Other assets 194 182 Total assets $27,944 $27,267 LIABILITIES: Long-term borrowed funds $3,344 $3,336 Other liabilities 258 241 Total liabilities 3,602 3,577 Total stockholders’ equity 24,342 23,690 Total liabilities and stockholders’ equity $27,944 $27,267 Condensed Statements of Operations Year Ended December 31, (dollars in millions) 2023 2022 2021 OPERATING INCOME: Income from bank subsidiaries, excluding equity in undistributed income: Dividends $2,875 $450 $1,120 Interest 43 39 35 Management and service fees 69 69 64 Income from nonbank subsidiaries, excluding equity in undistributed income: Dividends — 43 57 Interest 8 3 2 All other operating income 1 1 1 Total operating income 2,996 605 1,279 OPERATING EXPENSE: Salaries and employee benefits 39 43 36 Interest expense 129 125 119 All other expenses 31 28 28 Total operating expense 199 196 183 Income (loss) before taxes and undistributed income 2,797 409 1,096 Income tax expense (benefit) (13) (13) (16) Income before undistributed income of subsidiaries 2,810 422 1,112 Equity in undistributed income (losses) of subsidiaries: Bank (1,163) 1,724 1,188 Nonbank (39) (73) 19 Net income $1,608 $2,073 $2,319 Total other comprehensive income (loss), net of income taxes (1) 802 (3,895) (605) Total comprehensive income (loss) $2,410 ($1,822) $1,714 (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. Also, see Note 17 for more information regarding the Company’s common and preferred stock dividends. Condensed Cash Flow Statements Year Ended December 31, (dollars in millions) 2023 2022 2021 OPERATING ACTIVITIES Net income $1,608 $2,073 $2,319 Adjustments to reconcile net income to net change in cash due to operating activities: Deferred income tax expense (benefit) (4) (11) — Equity in undistributed (income) losses of subsidiaries 1,202 (1,651) (1,207) Other, net 96 92 67 Net increase (decrease) in other liabilities (17) (7) 34 Net (increase) decrease in other assets 17 (44) 12 Net change due to operating activities 2,902 452 1,225 INVESTING ACTIVITIES Investments in and advances to subsidiaries (76) (156) (196) Repayment of investments in and advances to subsidiaries 30 121 125 Acquisitions, net of cash acquired — (23) (165) Other investing, net — (1) (1) Net change due to investing activities (46) (59) (237) FINANCING ACTIVITIES Proceeds from issuance of long-term borrowed funds — 414 — Repayments of long-term borrowed funds — (182) (350) Treasury stock purchased (906) (153) (295) Net proceeds from issuance of preferred stock — — 296 Redemption of preferred stock — — (250) Dividends paid to common stockholders (808) (779) (670) Dividends paid to preferred stockholders (120) (113) (113) Other financing, net 21 (25) (20) Net change due to financing activities (1,813) (838) (1,402) Net change in cash and due from banks 1,043 (445) (414) Cash and due from banks at beginning of year 1,821 2,266 2,680 Cash and due from banks at end of year $2,864 $1,821 $2,266

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The Consolidated Financial Statements include the accounts of Citizens and its subsidiaries, including VIEs in which Citizens is a primary beneficiary, and are presented in accordance with GAAP. Investments in VIEs in which the Company does not have the ability to exercise significant influence are not consolidated. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change include the determination of the ACL, fair value measurements and the evaluation and measurement of goodwill impairment.
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, 2023 or 2022.
Securities	Investments include debt, equity and other 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 a security 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 or prepayment risk, among other factors, are classified as AFS and reported at fair value, with unrealized gains and losses, net of taxes, reported in AOCI as a separate component of stockholders’ equity. Gains and losses on the sale of AFS securities are recognized in noninterest income in the Consolidated Statements of Operations 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. Interest income for AFS and HTM debt securities is recorded on the accrual basis including the amortization of premiums and the accretion of discounts utilizing 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 held principally for sale in the near-term and carried at fair value, with changes in fair value recognized in earnings. Realized and unrealized gains and losses on such securities are reported in noninterest income in the Consolidated Statements of Operations. Equity securities primarily consist of FHLB and FRB stock carried at cost and money market mutual fund investments held by the Company’s broker-dealers carried at fair value with changes in fair value recognized in noninterest income. Equity securities are recorded in other assets on the Consolidated Balance Sheets, with those carried at cost reviewed at least annually for impairment. Valuation adjustments, to the extent necessary, are reported in noninterest income in the Consolidated Statements of Operations. 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, 2023 and concluded that 95% 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, 2023. 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 AFS debt securities is a decline in fair value below its amortized cost basis. The Company recognizes an impairment loss for any security that has declined in fair value below its amortized cost basis 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 on an assessment of the cash flows expected to be collected. If the present value of the 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 and Citizens must evaluate whether any impairment is attributable to credit-related factors. If credit-related factors exist, a 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 as provision expense through the establishment of an allowance for AFS securities, to the extent the allowance does not reduce the carrying 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 are classified as held for investment when management has the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. 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 and discounts on purchased loans. Deferred loan origination fees and costs and premiums and discounts on purchased loans are amortized as an adjustment of yield over the life of the loan using the effective interest method. Unamortized amounts that remain when a loan is prepaid or sold 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, which calculates periodic interest income at a constant effective yield on the net investment in the loan, providing a constant rate of return over the loan term. Loans accounted for using the fair value option are measured at fair value with corresponding changes reported in mortgage banking fees for residential mortgage LHFS and in capital markets fees for commercial LHFS in the Consolidated Statements of Operations. Commitment fees for loans that are likely to be drawn down, along with other credit-related fees, are deferred and recognized as an adjustment to the effective interest rate over the loan term. Commitment fees are recognized over the commitment period on a straight-line basis if it is unlikely that a loan will be drawn down and are reported in 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 leases equipment for commercial use with a primary focus on middle-market and mid-corporate clients for large capital equipment acquisitions including railcars, trucks and trailers, and other equipment. The determination of whether an arrangement is a lease and the related lease classification are made at lease inception. Lease terms predominantly range from three A lessee is evaluated from a credit perspective using the same underwriting standards and procedures 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 not typically 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	The Company’s estimate of expected credit losses in its loan and lease portfolios is recorded in the ACL and considers extensive historical loss experience, including the impact of loss mitigation and restructuring programs that the Company offers to borrowers experiencing financial difficulty, as well as projected loss severity as a result of loan default. The ACL is maintained at a level the Company believes to be appropriate to absorb expected lifetime credit losses over the contractual life of a loan or lease and on unfunded lending commitments. The determination of the ACL is based on periodic evaluation of loan and lease portfolios and unfunded lending commitments that are not unconditionally cancellable. A number of relevant underlying factors, including key assumptions and the evaluation of quantitative and qualitative information, are considered. 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 by assessing 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 generally grouped 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 loans, timing and amount of expected draws for unfunded lending commitments, FICO, LTV, and term for retail loans. The mix and level of loan balances, delinquency levels, assigned risk ratings, previous loss experience, current business conditions, amount and timing of expected future cash flows, and factors specific to commercial credits such as competition, business and management performance are also considered. Forward-looking economic assumptions include real GDP, unemployment rate, interest rate curve, and changes in collateral values. This data is accumulated to estimate expected credit losses over the contractual life of the loans and leases, adjusted for expected prepayments. Historical information, such as financial statements for commercial customers or consumer credit ratings, may not be as important to estimating future expected losses as forecasted inputs to the models during volatile economic time periods. The ACL may also be affected by a variety of qualitative factors that the Company considers that are not measured in the statistical procedures including uncertainty related to economic forecasts, loan growth, backtesting 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 determined and applied across the portfolio. Certain loan portfolios don’t require an econometric model to calculate expected credit losses. For these portfolios, approaches that are less data intensive and non-modeled are utilized to estimate credit losses as they are considered more efficient and practical for portfolios that have outstanding balances that are not material (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 are assessed on an individual loan level basis. Generally, measurement of the ACL on an individual loan or lease 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 substantially through the operation or sale of the underlying collateral, rather than by cash flows from the borrower’s operations, income or other resources. Generally, this occurs when cash flows to repay the loan from all other available sources, including guarantors, are expected to be no more than nominal. 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, which 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 decrease to the ACL would be limited to the total amount previously written off for a given loan or lease. Collateral values for residential mortgage and home equity loans are based on appraisals, which are updated every 90 days at a minimum, less estimated costs to sell. At December 31, 2023 and 2022, the Company had collateral-dependent residential mortgage and home equity loans totaling $556 million and $561 million, respectively. Commercial loans are secured by various types of collateral, including real estate, inventory, equipment, accounts receivable, securities and cash, among others. Collateral values are generally based on appraisals for commercial real estate loans, which are updated based on management judgment on a case-by-case basis. At December 31, 2023 and 2022, the Company had collateral-dependent commercial loans totaling $233 million and $21 million, respectively. The amortized cost basis of mortgage loans collateralized by residential real estate for which formal foreclosure proceedings were in-process was $336 million and $250 million as of December 31, 2023 and 2022, respectively. Expected recoveries are considered in management’s estimate of the ACL and may result in a reduction to the ACL balance. A negative ACL for a collateral dependent loan exists if the fair value of the collateral increases in a subsequent reporting period and 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. 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, are considered to estimate 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 in the allowance for loan and lease losses and other liabilities, respectively, in the Consolidated Balance Sheets . The provision for credit losses related to loan and lease portfolios and unfunded lending commitments is reported in provision (benefit) for credit losses in the Consolidated Statements of Operations. Nonaccrual loans and leases are those on which accrual of interest is 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 a loan is placed on nonaccrual status the accrued interest receivable is reversed against interest income and the amortization of any net deferred fees is suspended. Interest collected on nonaccrual loans and leases for which the ultimate collectability of principal is uncertain are generally applied to reduce the carrying value of the asset first. Otherwise, interest income may be recognized to the extent of the cash received if the loan is deemed fully collectible. A loan or lease may be returned to accrual status if: • no principal and interest payments are due and unpaid, and repayment of the remaining contractual principal and interest is expected; • the loan or lease has otherwise become well-secured and in the process of collection; or • the borrower has made regularly scheduled payments in full for the prior six months and it is reasonably assured that the loan or lease will be brought 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 accrual 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 due to 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, workout/restructuring expectations of the loan and valuation of the borrower’s equity or 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, credit card and unsecured open-end loans are generally charged-off in the month when the account becomes 180 days past due. Auto, education 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 written down to their net realizable value earlier in the following circumstances: • FDMs that are determined to be collateral dependent. • 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 written 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	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. Renewals are categorized as new credit decisions and reflect the renewal date as the vintage date, except for renewals of loans modified for borrowers experiencing financial difficulty, or FDMs, which are presented in the original vintage. Citizens utilizes internal risk ratings to monitor credit quality for commercial loans and leases. These ratings are assigned at loan origination and are periodically reevaluated utilizing a risk-based approach, annually at a minimum, or any time management becomes aware of information affecting a borrower’s ability to fulfill their obligations. The reevaluation process considers both quantitative and qualitative factors. The following categories are utilized to develop the ACL: • Pass - includes obligations where the probability of default is considered low and repayment in full is expected in accordance with the contractual loan terms; • Special Mention - includes obligations that have potential weakness that, if left uncorrected, may result in deterioration of the Company’s credit position at some future date; • Substandard Accrual - includes obligations that have well-defined weaknesses that could hinder normal repayment or collection of the debt, but are currently performing; • Nonaccrual - includes obligations where management has determined that full payment of principal and interest is in doubt. For more information on nonaccrual loans and leases see “Nonaccrual and Past Due Assets” below. For commercial and industrial loans, the performance of the borrower is monitored in a disciplined and regular manner based upon the level of credit risk inherent in the loan. To evaluate the level of credit risk, an internal risk rating is assigned 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 annually at a minimum. The combination of the PD and LGD assigned ratings, which reflect credit quality characteristics as of the reporting date and are used as inputs into the loss forecasting process, capture both the expectation of default and loss severity in the event of default. Each loan is periodically reviewed by management based on the amount of the lending arrangement and risk rating assessment, with priority given to those loans which are perceived to be of higher risk, or loans for which credit quality is weakening (e.g., payment delinquency). Loans are proactively managed by utilizing various procedures that are customized to the risk of a given loan, including ongoing outreach to the borrower, assessment of the borrower’s financial condition and appraisal of the collateral. Credit risk associated with commercial real estate loans is managed similar to commercial and industrial loans by evaluating PD and LGD. Risks associated with commercial real estate activities are typically correlated to the loan structure, collateral location, project progress and business environment. As a result, these attributes are monitored and utilized in assessing credit risk. 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. Credit risk associated with leases is managed similar to commercial and industrial loans by evaluating 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 without a new credit decision. Citizens generally reserves the right to not renew the loan or lease until current underwriting is completed and approved.
Loan Modifications to Borrowers Experiencing Financial Difficulty	Effective January 1, 2023, the Company adopted accounting guidance that eliminates the separate recognition and measurement of TDRs. Upon adoption of this guidance, all loan modifications to borrowers experiencing financial difficulty, or FDMs, are evaluated to determine whether the modification should be accounted for as a new loan or a continuation of the existing loan. The existing loan is derecognized and the restructured loan is accounted for as a new loan if the effective yield on the restructured loan is at least equal to the effective yield for comparable loans with similar collection risk and the modification to the original loan is more than minor. Any unamortized fees and costs from the original loan are recognized in interest income when the new loan is granted. If a loan restructuring does not meet these conditions, the existing loan’s amortized cost basis is carried forward and the modified loan is accounted for as a continuation of the existing loan. FDMs are generally accounted for as a continuation of the existing loan given the terms are typically not at market rates. The Company offers loan modifications to retail and commercial borrowers as a result of its loss mitigation activities that may result in a payment delay, interest rate reduction, term extension, principal forgiveness, or combination thereof. Payment delays consist of modifications that result in a delay of contractual amounts due greater than three months over a rolling 12-month period. Commercial loan modifications are offered on a case-by-case basis and generally include a payment delay, term extension and/or interest rate reduction. The Company does not typically offer principal forgiveness for commercial loans. Retail loan modifications are offered through structured loan modification programs, which are summarized below. • Forbearance programs provide borrowers experiencing some form of hardship a period of time during which their contractual payment obligations are suspended, resulting in a payment delay and/or term extension. • Other repayment plans are offered due to hardship and include an interest rate reduction and/or term extension designed to enable the borrower to return the loan to current status in an expeditious manner. • Settlement agreements may be executed with borrowers experiencing a long-term hardship or who are delinquent, resulting in principal forgiveness. Upon fulfillment of the terms of the settlement agreement, the unpaid principal amount is forgiven resulting in a charge-off of the outstanding principal balance. • Certain reorganization bankruptcy judgments may result in any one of the four modification types or some combination thereof. Retail and commercial loans whose contractual terms have been modified in a FDM and are current at the time of the modification may remain on accrual status if there is demonstrated performance prior to the modification and payment in full under the modified terms is expected. Cash receipts on nonaccrual impaired loans, including nonaccrual loans involved in FDMs, are generally applied to reduce the unpaid principal balance. Certain FDMs that are current in payment status are classified as nonaccrual in accordance with regulatory guidance. Nonaccrual FDMs 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.
Troubled Debt Restructuring	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. 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. 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. Nonaccrual TDRs may 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. The ACL for loans previously identified as TDRs is measured at the product level based on post-modification credit attributes and use of an econometric model or at the fair value of collateral less costs to sell, if less than the loan’s amortized cost basis. 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 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.
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 and improvements is capitalized. 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 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, which is based on the basic pattern of consumption and economic benefits provided by the asset. The amortization of software commences 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 in the Consolidated Balance Sheets.
Mortgage Banking	The Company sells residential mortgages into the secondary market and 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 Company recognizes the right to service residential mortgage loans for others, or MSRs, when purchased or when servicing is contractually separated from the underlying mortgage loans sold with servicing rights retained. MSRs are reported in other assets in the Consolidated Balance Sheets. 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 $97.4 billion and $96.7 billion at December 31, 2023 and 2022, respectively. The Company manages the risk associated with changes in the value of the MSRs with an active economic hedging strategy, which includes the purchase of freestanding derivatives. 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.
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 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. In instances where the lease does not specify an implicit rate, the Company utilizes 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. The Company leases both equipment and real estate, including office and branch space, in the normal course of business. 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. Lease components are accounted for as a single lease component when lease agreements contain lease and non-lease components and for certain real estate leases. Leases with an initial term of 12 months or less are not recorded in 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 lease term. The Company may also enter into subleases with third parties for certain leased real estate properties that are no longer occupied. Depreciation expense associated with operating lease assets is recorded on a straight-line basis over their estimated useful life and is included in other operating expense in the Consolidated Statements of Operations. Operating lease assets are reviewed for impairment on a periodic basis, with an impairment loss recognized in other operating expense if the carrying amount of the leased asset exceeds its fair value and is not recoverable. The carrying amount of a leased asset is not recoverable if its carrying value exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value of the asset.
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. The Company 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. Goodwill no longer retains its association with a particular acquisition once assigned to a reporting unit, 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 subject to an annual impairment test and not amortized. Goodwill is reviewed 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, a quantitative assessment of goodwill must be performed. The Company may elect to bypass the qualitative assessment and perform a quantitative assessment, which is used to identify potential impairment and 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 not to be impaired. If the carrying value of the reporting unit inclusive of goodwill exceeds fair value, an impairment loss is recognized for the excess, establishing a new basis in the goodwill, and cannot exceed the amount of goodwill assigned to the reporting unit. Subsequent reversal of goodwill impairment losses is not permitted. The fair value of the Company’s reporting units is determined using a combination of income and market-based approaches. The Company relies on several assumptions to estimate the fair value of its reporting units under the income-based approach including discount rate, projected loan losses, income tax and capital retention rates. The Company performed a quantitative goodwill impairment assessment in the fourth quarter of 2023 as part of its annual impairment assessment. Based on this quantitative assessment, the Company concluded that the estimated fair value of the Consumer Banking and Commercial Banking reporting units exceeded their carrying value; therefore, the Company determined that there was no impairment to the carrying value of its goodwill as of December 31, 2023. The Commercial Banking reporting unit’s fair value exceeded its carrying value by approximately 10%. The Company monitored events and circumstances during the period from October 31, 2023 through December 31, 2023, including macroeconomic and market factors, industry and banking sector events, Company-specific performance indicators, a comparison of the Company’s forecast and assumptions to those used in its October 31, 2023 quantitative impairment test, and the sensitivity of the October 31, 2023 quantitative test results to changes in assumptions through December 31, 2023. Based on these considerations, the Company concluded that it was not more-likely-than-not that the fair value of either of its reporting units is below its respective carrying amount as of December 31, 2023.
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, in the normal course of business, engages in a variety of activities with entities that are considered VIEs, as defined by GAAP, with its variable interest arising from contractual, ownership or other monetary interests in the entity. A VIE typically does not have sufficient equity at risk to finance its activities without additional subordinated financial support from other parties. Citizens is the primary beneficiary of a VIE, and must consolidate it, if its variable interest provides it with the power to direct the activities that significantly impact the VIE and it has the right to receive benefits, or the obligation to absorb losses, that could potentially be significant to the VIE. Citizens considers both qualitative and quantitative factors regarding the nature, size and form of its involvement with the VIE to determine whether or not a variable interest held is significant to the VIE. Citizens assesses whether or not it is the primary beneficiary of a VIE on an ongoing basis. Transfers of financial assets in which the Company has not surrendered control over the transferred assets are accounted for as a secured borrowing with a pledge of collateral. Control is generally considered surrendered when 1) the transferred assets are legally isolated from the Company and its creditors, even in bankruptcy, 2) the transferee has the right to pledge or exchange the transferred assets it received, with no condition that constrains the transferee from taking advantage of this right or that provides more than a trivial benefit to the Company, and 3) the Company does not maintain effective control over the transferred financial assets. Judgment is required to assess whether the Company maintains effective control over transferred financial assets.
Derivatives	In the normal course of business, Citizens enters into derivative transactions to meet the financing and hedging needs of its customers and 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 reported at fair value in the Consolidated Balance Sheets as derivative assets and derivative liabilities. 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 that become our counterparty. OTC-cleared derivative instruments are typically settled in cash each day based on their value from the previous day. 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 in the Consolidated Balance Sheets if a “right of setoff” is 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 is pledged or received in accordance with a master netting agreement. The Company’s derivative transactions are internally divided into three sub-groups: institutional, customer facilitation 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. All hedging relationships are formally documented at inception, as well as risk management objectives and strategies for undertaking various accounting hedges. In addition, the effectiveness of hedge relationships is monitored during the duration of the hedge period. The methods utilized to assess hedge effectiveness vary based on the hedge relationship and each relationship is monitored to ensure that management’s initial intent continues to be satisfied. Hedge accounting treatment is discontinued when the derivative is terminated or when it is determined that a derivative is not expected to be, or has ceased to be, effective as a hedge. Changes in the fair value of a derivative are reflected 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. During 2023, the Company entered into fair value hedges to manage interest rate risk within the AFS securities portfolio. 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 are deemed highly effective cash flow hedges. The Company has also entered into certain interest rate option agreements that utilize interest rate floors and caps, or some combination thereof, providing the ability to hedge the variability in cash flows within different interest rate bands. Option premiums paid and received are excluded from the assessment of hedge effectiveness and are amortized over the life of the instruments. Residential MSRs are accounted for at fair value. Derivatives utilized to hedge the fair value of residential MSRs include interest rate futures, swaps, options, and forward contracts to purchase mortgage-backed securities. Gains and losses on residential MSRs and the related derivatives are reported in mortgage banking fees in the Consolidated Statements of Operations.
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 benefit 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	The purchase of the Company’s common stock is recorded at cost. Upon retirement, or if subsequently reissued, 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 (i.e., 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.
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 observable in the marketplace. Credit risk does not have a significant impact on the valuation of these loans as they are sold shortly after origination. Residential mortgage LHFS are classified as Level 2 in the fair value hierarchy given the observable market inputs utilized to value these loans. 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 in the Consolidated Statements of Operations. 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. External pricing services that provide fair value estimates based on quotes from various dealers transacting in the market, sector curves or benchmarking techniques are also utilized. Commercial and industrial, and commercial real estate loans managed by the commercial secondary loan desk are classified as Level 2 in the fair value hierarchy given the observable market inputs utilized to value these loans. These commercial 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 in the Consolidated Statements of Operations. Changes in the fair value of the commercial trading portfolio are due to changes in credit risk since the portfolio is comprised of floating-rate obligations only. These credit-related 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 LHFS is calculated based on the contractual interest rate of the loan and is recorded in interest income in the Consolidated Statements of Operations. Recurring Fair Value Measurements Fair value is measured 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, if available, or observable market-based inputs or independently sourced parameters if quoted prices are not available. Inputs may include prices for similar assets or liabilities, yield curves, interest rates, prepayment speeds, and foreign exchange rates. The Company carries certain assets and liabilities at fair value, including AFS securities, derivative instruments and other investment securities. In addition, the Company has elected to account for its residential mortgage LHFS and loans managed by the commercial secondary loan trading desk at fair value. Assets and liabilities carried at fair value are classified 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. Fair value hierarchy classifications are reviewed and updated on a quarterly basis. Changes 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. A variety of valuation techniques are utilized to measure the Company’s assets and liabilities at fair value on a recurring basis, with those utilized for significant assets and liabilities presented below: Debt securities available for sale AFS debt securities are classified as Level 1 in the fair value hierarchy if quoted prices in active markets are available. Classes of securities that are valued using this market approach include debt securities issued by the U.S. Treasury. The fair value of a security is estimated under the market or income approach using pricing models if quoted market prices are not available. These securities are classified as Level 2 since they trade in active markets and the inputs to their valuations are observable. The pricing models used to value securities generally commence with market prices, or rates, for similar instruments, with adjustments made 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 securities that are valued using this market approach include pooled mortgage “pass-through” securities, collateralized loan obligations, and other debt securities issued by U.S. GSEs and state and political subdivisions. The pricing models used to value securities under the income approach generally commence with the contractual cash flows of each security, with adjustments made 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 majority of the Company’s Level 1 and 2 debt securities are priced using an external pricing service. The pricing accuracy of this service is verified on a quarterly basis and involves the use of a secondary external vendor to provide valuations for the Company’s securities portfolio for comparison purposes. Any valuation discrepancies exceeding 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 and, therefore, are classified as Level 3 since their valuation utilizes significant unobservable inputs. The fair value is determined using a discounted cash flow model, which includes assumptions associated with weighted-average life, prepayment speed, 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. Refer to Note 8 for more information. Derivatives The Company’s interest rate derivatives are traded in OTC markets where quoted market prices are not readily available. Fair value is determined through models that primarily use market observable inputs, such as swap rates and yield curves. These pricing models determine 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 derivative instrument. The pricing models do not contain a high level of subjectivity as the methodologies used do not require significant judgment. Certain adjustments to the modeled price that market participants would make when pricing each instrument are also considered, including a credit valuation adjustment that reflects the credit quality of the derivative counterparty. The effect of exposure to a particular counterparty’s credit is incorporated by netting their derivative contracts with the available collateral and calculating a credit valuation adjustment on the basis of the net position with the counterparty where permitted. 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 derivative portfolio . Therefore, interest rate derivatives are classified as Level 2 in the fair value hierarchy. The fair value of commodity derivatives uses the mid-point of market observable quoted prices as an input into the fair value model. These observed market prices, combined with other market observed inputs to derive the fair value of the instrument, generally classifies the commodity derivative as a Level 2 instrument. The fair value of foreign exchange derivatives uses the mid-point of daily quoted currency spot prices. The valuation model estimates fair value based on these quoted prices along 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 TBA contracts are classified as Level 2 in the fair value hierarchy given the observable market inputs. Other contracts primarily consist of interest rate lock commitments, which are valued utilizing loan closing rate assumptions that are internally generated. These assumptions are a significant unobservable input and, therefore, interest rate lock commitments 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 on 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: Collateral-Dependent Loans The carrying amount of collateral-dependent loans is compared to the appraised value of the collateral less costs to dispose and is classified as Level 2. Any excess of the carrying amount over the appraised value is charged to the ALLL.
Revenue from Contract with Customer	Revenues from Contracts with Customers Revenue from contracts with customers is recognized based on the amount of consideration expected to be received upon the transfer of control of a good or service. The timing of recognition is dependent on whether a performance obligation is satisfied by transferring control of the product or service to a customer over time or at a point in time. Judgments made include the timing of when performance obligations are satisfied 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 deposit transactions performed by customers, and fees earned for cash management activities. Service charges on deposit products are recognized over the period in which the related service is provided and 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 as the services are provided. Card Fees Card fees include interchange income from credit and debit card transactions and are recognized 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 upon completion of the transaction. Costs related to card reward programs are recognized in current earnings as the rewards are earned by the customer and are presented as a reduction to card fees in 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 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 in the Consolidated Statements of Operations. Advisory fees for mergers and acquisitions are recognized over time, while valuation services and fairness opinions are recognized upon completion of the advisory service. Trust and Investment Services Fees Trust and investment services fees include fees from investment management 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 services. Custody fees are recognized on a monthly basis and commission income is recognized 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 when the asset balance is known, or the renewal occurs and the income is no longer constrained. For the years ended December 31, 2023, 2022 and 2021, the Company recognized trailing commissions of $15 million, $15 million and $16 million, respectively, related to ongoing commissions from previous investment sales. Fees from other investment services are recognized upon completion of the service. O ther Banking Fees Other banking fees include fees for various banking transactions such as letter of credit fees, foreign wire transfers and other 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 include fees received from letter of credit agreements as well as loan fees received from lending activities that cannot be deferred. These fees are recognized upon execution of the contract. Foreign Exchange and Derivative Products Foreign exchange and derivative products primarily include 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 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, or losses, on the sale of residential mortgages originated with the intent to sell and servicing fees on mortgages serviced by the Company. Mortgage banking fees also include valuation adjustments for mortgage LHFS 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. Other Income Bank-owned life insurance is stated at its cash surrender value. Citizens is the beneficiary of life insurance policies on current and former officers 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 recognized under the life insurance policy for the period.
Income Taxes	Income taxes are accounted for under the asset and liability method, 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 while deferred income tax expense results from changes in gross deferred tax assets and liabilities between periods. Gross deferred tax assets and liabilities represent changes in taxes expected to be paid in the future due to the reversal of temporary differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases. Citizens assesses the probability that positions taken, or expected to be taken, in its income tax returns will be sustained by taxing authorities. A “more likely than not” (i.e., 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. 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 amount that management concludes is more likely than not to be realized. Tax positions are measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority. The difference between the benefit recognized 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	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 less preferred stock dividends. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period, inclusive of potential dilutive shares such as share-based payment awards and warrants using the treasury stock method.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
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 96 Securities 4 96 Loans and Leases 5 100 Allowance for Credit Losses and FDMs 6 102 Premises, Equipment and Software 7 116 Mortgage Servicing Rights 8 117 Leases 9 118 Goodwill and Intangible Assets 10 120 Variable Interest Entities 11 121 Derivative Instruments 14 126 Employee Benefits 15 129 Treasury Stock 17 132 Employee Share-Based Compensation 18 133 Fair Value Measurement 20 136 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 Troubled Debt Restructurings and Vintage Disclosures Issued March 2022 • Effective date: January 1, 2023. • Eliminates the separate recognition and measurement guidance for TDRs. • Requires evaluation of all modifications to borrowers experiencing financial difficulty (or FDMs) to determine whether the modification results in a new loan or continuation of an existing loan. • Requires expected credit losses measured under a discounted cash flow method to be determined using an effective interest rate based on the modified (not original) contractual terms of the loan. • Enhances disclosures by creditors for modifications of receivables from borrowers experiencing financial difficulty in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay or a term extension. • Requires disclosure of current period gross charge-offs by vintage year for loans and net investments in leases. • Transition is prospective, with an option to adopt the recognition and measurement guidance for TDRs on a modified retrospective basis, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. • The Company adopted the new standard on January 1, 2023, and elected to apply the new measurement and recognition guidance for legacy TDRs under the modified retrospective transition method. • Adoption did not have a material impact on the Company’s Consolidated Financial Statements. Required disclosures and discussion of significant accounting policies for modifications to borrowers experiencing financial difficulty are included in Note 6. Fair Value Hedging - Portfolio Layer Method Issued March 2022 • Effective date: January 1, 2023. • Replaces the ‘last-of-layer’ method. • Allows the designation of multiple layers in a closed portfolio of financial assets. • Permits hedging of non-prepayable and prepayable assets. • Prohibits the consideration of basis adjustments when measuring expected credit losses of assets in the closed portfolio or determining whether an AFS security is impaired. • The guidance on hedging multiple layers in a closed portfolio is applied prospectively. The guidance on the accounting for fair value basis adjustments is applied on a modified retrospective basis. • The Company adopted the new standard on January 1, 2023. • Adoption did not have a material impact on the Company’s Consolidated Financial Statements. Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method Issued March 2023 • Effective date: January 1, 2024. • Permits use of the proportional amortization method of accounting for all tax equity investments provided that certain conditions are met. • Proportional amortization method is elected on a tax-credit-program-by-tax-credit-program basis. • Permits adoption under the modified retrospective method or retrospective method through a cumulative-effect adjustment to retained earnings as of the beginning of the current period or first period presented, respectively. Early adoption is permitted. • The Company adopted the new standard on January 1, 2023 for renewable energy and new markets tax credit investments under the modified retrospective approach. • Adoption resulted in a cumulative-effect reduction of $26 million, net of taxes, to retained earnings and a corresponding reduction to other assets of $101 million and other liabilities of $75 million, reflecting the elimination of deferred tax liabilities associated with renewable energy investments that qualify for the proportional amortization method of accounting. • Refer to Note 11 for additional information.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of business acquisitions by acquisition, equity interest issued or issuable	The following table includes an allocation of the consideration paid for the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Investors: (dollars in millions, except 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 (1) 919 Total assets acquired 27,514 Liabilities assumed Deposits 20,217 Borrowed funds 4,097 Other liabilities (1) 677 Total liabilities assumed 24,991 Less: Net assets 2,523 Goodwill (1) $887 (1) Reflects purchase accounting adjustments made during 2023.
Schedule of recognized identified assets acquired and liabilities assumed	The following table includes an allocation of the consideration paid for the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Investors: (dollars in millions, except 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 (1) 919 Total assets acquired 27,514 Liabilities assumed Deposits 20,217 Borrowed funds 4,097 Other liabilities (1) 677 Total liabilities assumed 24,991 Less: Net assets 2,523 Goodwill (1) $887 (1) Reflects purchase accounting adjustments made during 2023.
Schedule of business acquisition	The following table includes the fair value and unpaid principal balance of the loans acquired from Investors: April 6, 2022 (dollars 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 from the date of acquisition through December 31, 2022. Investors was fully integrated into the Company’s processes and systems during the first quarter of 2023; therefore, standalone financial results for Investors are no longer available. (dollars 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, (dollars 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. (dollars 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: (dollars 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, 2023: Year Ended December 31, 2023 (dollars in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $1,060 $923 $1,983 Charge-offs (285) (472) (757) Recoveries 18 130 148 Net charge-offs (267) (342) (609) Provision expense (benefit) for loans and leases 457 267 724 Allowance for loan and lease losses, end of period 1,250 848 2,098 Allowance for unfunded lending commitments, beginning of period 207 50 257 Provision expense (benefit) for unfunded lending commitments (32) (5) (37) Allowance for unfunded lending commitments, end of period 175 45 220 Total allowance for credit losses, end of period $1,425 $893 $2,318 The following tables present a summary of changes in the ACL for the years ended December 31, 2022 and 2021: Year Ended December 31, 2022 (dollars 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. Year Ended December 31, 2021 (dollars 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

SECURITIES (Tables)

SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 December 31, 2022 (dollars in millions) Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury and other $4,493 $26 ($139) $4,380 $3,678 $1 ($193) $3,486 State and political subdivisions 1 — — 1 2 — — 2 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 26,289 45 (1,857) 24,477 21,250 10 (2,198) 19,062 Other/non-agency 279 — (24) 255 280 — (29) 251 Total mortgage-backed 26,568 45 (1,881) 24,732 21,530 10 (2,227) 19,313 Collateralized loan obligations 667 — (3) 664 1,248 — (42) 1,206 Total debt securities available for sale, at fair value $31,729 $71 ($2,023) $29,777 $26,458 $11 ($2,462) $24,007 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities $8,696 $9 ($818) $7,887 $9,253 $4 ($751) $8,506 Total mortgage-backed securities 8,696 9 (818) 7,887 9,253 4 (751) 8,506 Asset-backed securities 488 — (25) 463 581 — (45) 536 Total debt securities held to maturity $9,184 $9 ($843) $8,350 $9,834 $4 ($796) $9,042 Equity securities, at cost (2) $869 $— $— $869 $1,058 $— $— $1,058 Equity securities, at fair value (2) 173 — — 173 153 — — 153 (1) Excludes portfolio level basis adjustments of $60 million for securities designated in active fair value hedge relationships. The basis adjustments represent a reduction to the amortized cost of the securities being hedged. (2) Included in other assets in the Consolidated Balance Sheets.
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, 2023. 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 (dollars 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 $— $3,015 $1,478 $— $4,493 State and political subdivisions — — — 1 1 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — 1,599 2,157 22,533 26,289 Other/non-agency — — — 279 279 Collateralized loan obligations — — 100 567 667 Total debt securities available for sale — 4,614 3,735 23,380 31,729 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 8,696 8,696 Asset-backed securities — 488 — — 488 Total debt securities held to maturity — 488 — 8,696 9,184 Total amortized cost of debt securities $— $5,102 $3,735 $32,076 $40,913 Fair value: U.S. Treasury and other $— $2,906 $1,474 $— $4,380 State and political subdivisions — — — 1 1 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — 1,539 2,049 20,889 24,477 Other/non-agency — — — 255 255 Collateralized loan obligations — — 100 564 664 Total debt securities available for sale — 4,445 3,623 21,709 29,777 Mortgage-backed securities: Federal agencies and U.S. government sponsored entities — — — 7,887 7,887 Asset-backed securities — 463 — — 463 Total debt securities held to maturity — 463 — 7,887 8,350 Total fair value of debt securities $— $4,908 $3,623 $29,596 $38,127
Schedule of income recognized on investment securities	The following table presents realized gains and losses on sale of securities: Year Ended December 31, (dollars in millions) 2023 2022 2021 Gains $36 $13 $15 Losses (8) (4) (5) Securities gains, net $28 $9 $10
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, 2023 December 31, 2022 (dollars 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 $5,619 $5,305 $3,966 $3,527 Pledged as collateral for FHLB borrowing capacity 242 220 244 217 Pledged against repurchase agreements — — — —
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, 2023 Less than 12 Months 12 Months or Longer Total (dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. Treasury and other $49 $— $3,245 ($139) $3,294 ($139) Mortgage-backed securities: Federal agencies and U.S. government sponsored entities 2,939 (24) 16,398 (1,833) 19,337 (1,857) Other/non-agency — — 255 (24) 255 (24) Total mortgage-backed securities 2,939 (24) 16,653 (1,857) 19,592 (1,881) Collateralized loan obligations 56 — 607 (3) 663 (3) Total $3,044 ($24) $20,505 ($1,999) $23,549 ($2,023) December 31, 2022 Less than 12 Months 12 Months or Longer Total (dollars in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. 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)

LOANS AND LEASES (Tables)

LOANS AND LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of loans and leases	The following table presents loans and leases, excluding LHFS: December 31, (dollars in millions) 2023 2022 Commercial and industrial $43,826 $51,836 Commercial real estate 29,471 28,865 Leases 1,148 1,479 Total commercial 74,445 82,180 Residential mortgages 31,332 29,921 Home equity 15,040 14,043 Automobile 8,258 12,292 Education 11,834 12,808 Other retail 5,050 5,418 Total retail 71,514 74,482 Total loans and leases $145,959 $156,662 The following table presents the composition of LHFS: December 31, 2023 December 31, 2022 (dollars in millions) Residential Mortgages (1) Commercial (2) Total Residential Mortgages (1) Commercial (2) Total Loans held for sale at fair value $614 $62 $676 $666 $108 $774 Other loans held for sale — 103 103 — 208 208 (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: (dollars in millions) December 31, 2023 December 31, 2022 Total future minimum lease rentals $942 $1,193 Estimated residual value of leased equipment (non-guaranteed) 322 413 Initial direct costs 5 5 Unearned income (121) (132) Total leases $1,148 $1,479
Maturity analysis of direct financing lease receivables	A maturity analysis of direct financing and sales-type lease receivables at December 31, 2023 is presented below: Year (dollars in millions) 2024 $258 2025 213 2026 156 2027 133 2028 84 Thereafter 98 Total undiscounted future minimum lease rentals $942

CREDIT QUALITY AND THE ALLOWA_2

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of changes in the allowance for credit losses	The following table presents PCD loan activity at the date of acquisition: (dollars 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, 2023: Year Ended December 31, 2023 (dollars in millions) Commercial Retail Total Allowance for loan and lease losses, beginning of period $1,060 $923 $1,983 Charge-offs (285) (472) (757) Recoveries 18 130 148 Net charge-offs (267) (342) (609) Provision expense (benefit) for loans and leases 457 267 724 Allowance for loan and lease losses, end of period 1,250 848 2,098 Allowance for unfunded lending commitments, beginning of period 207 50 257 Provision expense (benefit) for unfunded lending commitments (32) (5) (37) Allowance for unfunded lending commitments, end of period 175 45 220 Total allowance for credit losses, end of period $1,425 $893 $2,318 The following tables present a summary of changes in the ACL for the years ended December 31, 2022 and 2021: Year Ended December 31, 2022 (dollars 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. Year Ended December 31, 2021 (dollars 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
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 internal risk rating as of December 31, 2023, and gross charge-offs by vintage date for the year ended December 31, 2023: Term Loans by Origination Year Revolving Loans (dollars in millions) 2023 2022 2021 2020 2019 Prior to 2019 Within the Revolving Period Converted to Term Total Commercial and industrial Pass $3,599 $6,338 $5,049 $1,254 $1,085 $2,031 $21,033 $53 $40,442 Special Mention 59 194 354 29 48 113 368 — 1,165 Substandard Accrual 5 175 325 212 121 284 792 11 1,925 Nonaccrual 1 72 51 4 5 102 53 6 294 Total commercial and industrial 3,664 6,779 5,779 1,499 1,259 2,530 22,246 70 43,826 Gross charge-offs 1 3 34 4 1 34 44 — 121 Commercial real estate Pass 1,906 5,791 6,062 2,555 2,294 3,895 1,975 8 24,486 Special Mention — 713 539 222 183 260 75 — 1,992 Substandard Accrual — 277 203 469 528 939 100 — 2,516 Nonaccrual 1 66 2 23 144 238 3 — 477 Total commercial real estate 1,907 6,847 6,806 3,269 3,149 5,332 2,153 8 29,471 Gross charge-offs — — — 56 13 95 — — 164 Leases Pass 95 174 282 191 62 268 — — 1,072 Special Mention — 27 1 1 2 — — — 31 Substandard Accrual 3 14 12 6 4 3 — — 42 Nonaccrual — — 3 — — — — — 3 Total leases 98 215 298 198 68 271 — — 1,148 Gross charge-offs — — — — — — — — — Total commercial Pass 5,600 12,303 11,393 4,000 3,441 6,194 23,008 61 66,000 Special Mention 59 934 894 252 233 373 443 — 3,188 Substandard Accrual 8 466 540 687 653 1,226 892 11 4,483 Nonaccrual 2 138 56 27 149 340 56 6 774 Total commercial (1) $5,669 $13,841 $12,883 $4,966 $4,476 $8,133 $24,399 $78 $74,445 Gross charge-offs $1 $3 $34 $60 $14 $129 $44 $— $285 (1) In the fourth quarter of 2023, the Company revised its presentation of commercial loans and leases by vintage date and internal risk rating to reflect how the Company currently manages the commercial credit portfolio. The Company now reports Substandard Accrual and Nonaccrual ratings, replacing previously reported ratings of Substandard and Doubtful, respectively. The prior period presentation was revised to conform to the new presentation. For more information regarding the Company’s internal risk ratings, see “Credit Quality Indicators” above. The following table presents the amortized cost basis of commercial loans and leases by vintage date and internal risk rating as of December 31, 2022: Term Loans by Origination Year Revolving Loans (dollars 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 Accrual 148 210 194 254 97 330 554 12 1,799 Nonaccrual 12 22 10 6 43 33 119 4 249 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 Accrual 91 15 75 248 346 591 23 — 1,389 Nonaccrual 1 5 13 60 4 20 — — 103 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 Accrual — 4 3 3 — — — — 10 Nonaccrual — — — — — — — — — 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 Accrual 239 229 272 505 443 921 577 12 3,198 Nonaccrual 13 27 23 66 47 53 119 4 352 Total commercial (1) $14,715 $15,843 $6,633 $6,280 $4,245 $7,076 $27,221 $167 $82,180 (1) In the fourth quarter of 2023, the Company revised its presentation of commercial loans and leases by vintage date and internal risk rating to reflect how the Company currently manages the commercial credit portfolio. The Company now reports Substandard Accrual and Nonaccrual ratings, replacing previously reported ratings of Substandard and Doubtful, respectively. The prior period presentation was revised to conform to the new presentation. For more information regarding the Company’s internal risk ratings, see “Credit Quality Indicators” above. The following table presents the amortized cost basis of retail loans by vintage date and current FICO score as of December 31, 2023, and gross charge-offs by vintage date for the year ended December 31, 2023: Term Loans by Origination Year Revolving Loans (dollars in millions) 2023 2022 2021 2020 2019 Prior to 2019 Within the Revolving Period Converted to Term Total Residential mortgages 800+ $889 $3,067 $5,172 $3,117 $1,131 $3,125 $— $— $16,501 740-799 1,333 1,940 2,560 1,411 592 1,625 — — 9,461 680-739 367 631 758 466 266 873 — — 3,361 620-679 54 135 165 90 121 445 — — 1,010 <620 9 48 104 95 161 561 — — 978 No FICO available (1) 1 — 2 1 3 14 — — 21 Total residential mortgages 2,653 5,821 8,761 5,180 2,274 6,643 — — 31,332 Gross charge-offs — — — 1 1 4 — — 6 Home equity 800+ — 4 4 1 4 91 5,078 222 5,404 740-799 — 1 2 1 3 82 4,708 241 5,038 680-739 1 1 1 2 5 93 2,693 202 2,998 620-679 — 1 1 2 8 77 718 137 944 <620 — 2 1 1 10 80 332 230 656 Total home equity 1 9 9 7 30 423 13,529 1,032 15,040 Gross charge-offs — — — — — 3 8 1 12 Automobile 800+ 81 539 1,062 368 162 47 — — 2,259 740-799 134 671 1,038 375 165 52 — — 2,435 680-739 147 577 708 252 118 39 — — 1,841 620-679 94 316 345 112 65 26 — — 958 <620 44 232 291 100 66 32 — — 765 No FICO available (1) — — — — — — — — — Total automobile 500 2,335 3,444 1,207 576 196 — — 8,258 Gross charge-offs 3 34 41 14 12 9 — — 113 Education 800+ 296 671 1,637 1,418 600 1,185 — — 5,807 740-799 368 694 1,050 850 369 678 — — 4,009 680-739 143 289 333 273 134 298 — — 1,470 620-679 30 65 68 58 32 107 — — 360 <620 5 18 25 23 15 55 — — 141 No FICO available (1) 10 — 1 — — 36 — — 47 Total education 852 1,737 3,114 2,622 1,150 2,359 — — 11,834 Gross charge-offs — 5 19 25 17 45 — — 111 Other retail 800+ 183 70 38 35 16 18 500 — 860 740-799 258 87 46 45 21 19 963 1 1,440 680-739 214 76 39 39 18 11 973 2 1,372 620-679 118 48 23 19 6 4 419 2 639 <620 31 35 18 14 4 2 251 2 357 No FICO available (1) 7 1 — 1 — — 373 — 382 Total other retail 811 317 164 153 65 54 3,479 7 5,050 Gross charge-offs 49 24 8 8 11 9 121 — 230 Total retail 800+ 1,449 4,351 7,913 4,939 1,913 4,466 5,578 222 30,831 740-799 2,093 3,393 4,696 2,682 1,150 2,456 5,671 242 22,383 680-739 872 1,574 1,839 1,032 541 1,314 3,666 204 11,042 620-679 296 565 602 281 232 659 1,137 139 3,911 <620 89 335 439 233 256 730 583 232 2,897 No FICO available (1) 18 1 3 2 3 50 373 — 450 Total retail $4,817 $10,219 $15,492 $9,169 $4,095 $9,675 $17,008 $1,039 $71,514 Gross charge-offs $52 $63 $68 $48 $41 $70 $129 $1 $472 (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 current FICO score as of December 31, 2022: Term Loans by Origination Year Revolving Loans (dollars 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).
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, 2023 and 2022: December 31, 2023 Days Past Due and Accruing (dollars in millions) Current 30-59 60-89 90+ Nonaccrual Total Nonaccrual with no related ACL Commercial and industrial $43,447 $61 $18 $6 $294 $43,826 $30 Commercial real estate 28,745 150 59 40 477 29,471 71 Leases 1,144 1 — — 3 1,148 — Total commercial 73,336 212 77 46 774 74,445 101 Residential mortgages (1) 30,499 282 118 256 177 31,332 144 Home equity 14,640 82 33 — 285 15,040 198 Automobile 8,005 144 48 — 61 8,258 7 Education 11,732 49 23 2 28 11,834 3 Other retail 4,899 49 34 29 39 5,050 — Total retail 69,775 606 256 287 590 71,514 352 Total $143,111 $818 $333 $333 $1,364 $145,959 $453 Guaranteed residential mortgages (1) $675 $128 $76 $243 $— $1,122 $— (1) Guaranteed residential mortgages represent loans fully or partially guaranteed by the FHA, VA and USDA, and are included in the amounts presented for Residential mortgages. December 31, 2022 Days Past Due and Accruing (dollars 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 Guaranteed residential mortgages (1) $789 $57 $34 $316 $— $1,196 $— (1) Guaranteed residential mortgages represent loans fully or partially guaranteed by the FHA, VA and USDA, and are included in the amounts presented for Residential mortgages.
Troubled debt restructurings on financing receivables	The following table presents the period-end amortized cost of loans to borrowers experiencing financial difficulty that were modified during the year ended December 31, 2023, disaggregated by class of financing receivable and modification type. The modification type reflects the cumulative effect of all FDMs received during the indicated period. Year Ended December 31, 2023 (dollars in millions) Interest Rate Reduction Term Extension Payment Delay Principal Forgiveness Interest Rate Reduction and Term Extension Term Extension and Payment Delay Total Total as a % of Loan Class (1) Commercial and industrial $1 $252 $69 $— $1 $2 $325 0.74 % Commercial real estate — 522 — — 70 1 593 2.01 Total commercial 1 774 69 — 71 3 918 1.23 Residential mortgages 8 77 3 — 20 1 109 0.35 Home equity 2 5 — — 8 — 15 0.10 Automobile — — — — — — — — Education 9 — 31 — — — 40 0.34 Other retail 11 — — — — — 11 0.22 Total retail 30 82 34 — 28 1 175 0.24 Total (2) $31 $856 $103 $— $99 $4 $1,093 0.75 % (1) Represents the total amortized cost as of period-end divided by the period-end amortized cost of the corresponding loan class. Accrued interest receivable is excluded from amortized cost and is immaterial. (2) Excludes borrowers that had their debt discharged by means of a Chapter 7 bankruptcy filing. The following table presents the financial effect of loans to borrowers experiencing financial difficulty that were modified during the year ended December 31, 2023, disaggregated by class of financing receivable. Year Ended December 31, 2023 Weighted-Average Interest Rate Reduction (1)(5) Weighted-Average Term Extension (in Months) (2)(5) Weighted-Average Payment Deferral (3)(5) Amount of Principal Forgiven (4) Commercial and industrial 2.02 % 15 $562,777 $— Commercial real estate 0.59 11 30,821 — Residential mortgages 1.58 50 — — Home equity 2.64 120 1,366 — Automobile 3.60 18 1,245 — Education 4.76 — 6,134 — Other retail 18.68 — — 5 (1) Represents the weighted-average reduction of the loan’s interest rate. (2) Represents the weighted-average extension of a loan’s maturity date. (3) Represents the weighted-average amount of payments delayed as a result of the loan modification. Amounts are reported in whole dollars. (4) Amounts are recorded as charge-offs and are reported in millions. (5) Weighted based on period-end amortized cost. The following table presents an aging analysis of the period-end amortized cost of loans to borrowers experiencing financial difficulty that were modified during the year ended December 31, 2023, disaggregated by class of financing receivable. A loan in a forbearance or repayment plan is reported as past due according to its contractual terms until contractually modified. Subsequent to modification, it is reported as past due based on its restructured terms. December 31, 2023 Days Past Due and Accruing (dollars in millions) Current 30-59 60-89 90+ Nonaccrual Total Commercial and industrial $211 $— $— $— $114 $325 Commercial real estate 402 7 — 26 158 593 Total commercial 613 7 — 26 272 918 Residential mortgages 61 11 7 17 13 109 Home equity 5 — — — 10 15 Automobile — — — — — — Education 37 1 — — 2 40 Other retail 8 1 1 — 1 11 Total retail 111 13 8 17 26 175 Total $724 $20 $8 $43 $298 $1,093 The following tables summarize loans modified during the year ended December 31, 2022. 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 (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. The following are also included: 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, modified, subsequent default	The following table presents the period-end amortized cost of loans to borrowers experiencing financial difficulty that were modified on or after January 1, 2023 that subsequently defaulted during the year ended December 31, 2023, disaggregated by class of financing receivable and modification type. The modification type reflects the cumulative effect of all FDMs at the time of default. A loan is considered to be in default if, subsequent to modification, it becomes 90 or more days past due or is placed on nonaccrual status. Year Ended December 31, 2023 (dollars in millions) Interest Rate Reduction Term Extension Payment Delay Interest Rate Reduction and Term Extension Total Commercial and industrial $— $— $43 $— $43 Commercial real estate — 102 — — 102 Total commercial — 102 43 — 145 Residential mortgages 1 9 — 5 15 Home equity — 1 — 2 3 Automobile — — — — — Education — — 1 — 1 Other retail — — — — — Total retail 1 10 1 7 19 Total $1 $112 $44 $7 $164
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: (dollars in millions) Year Ended December 31, 2022 Commercial $— Retail (1) 242 Total $242 (1) Includes $187 million of loans fully or partially government guaranteed by the FHA, VA, and USDA.

PREMISES, EQUIPMENT, AND SOFT_2

PREMISES, EQUIPMENT, AND SOFTWARE (Tables)	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 Land and land improvements 10 - 75 $143 $144 Buildings and leasehold improvements 5 - 60 875 879 Furniture, fixtures and equipment 4 - 20 613 622 Construction in progress 77 61 Total premises and equipment, gross 1,708 1,706 Accumulated depreciation and amortization (813) (862) Total premises and equipment, net $895 $844
Schedule of estimated future amortization expense for capitalized software assets	The estimated future amortization expense for capitalized software assets is presented below. Year (dollars in millions) 2024 $237 2025 199 2026 136 2027 79 2028 23 Thereafter — Total (1) $674 (1) Excludes $215 million of in-process software at December 31, 2023.

MORTGAGE BANKING AND OTHER SE_2

MORTGAGE BANKING AND OTHER SERVICED LOANS (Tables)	12 Months Ended
	Dec. 31, 2023
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, (dollars in millions) 2023 2022 2021 Cash proceeds from residential mortgage loans sold with servicing retained $9,124 $17,025 $37,039 Repurchased residential mortgages (1) — 87 1,381 Gain on sales (2) 72 86 382 Contractually specified servicing, late and other ancillary fees (2) 309 287 247 (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, (dollars in millions) 2023 2022 Fair value as of beginning of the period $1,530 $1,029 Amounts capitalized 127 279 Servicing rights acquired — 16 Changes in unpaid principal balance during the period (1) (166) (137) Changes in fair value during the period (2) 61 343 Fair value at end of the period $1,552 $1,530 (1) 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. (2) 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. 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 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, 2023 December 31, 2022 Fair value $1,552 $1,530 Weighted average life (years) 8.8 9.1 Weighted average constant prepayment rate 7.2% 6.8% Decline in fair value from 10% adverse change $37 $34 Decline in fair value from 20% adverse change $71 $66 Weighted average option adjusted spread 630 bps 629 bps Decline in fair value from 10% adverse change $43 $43 Decline in fair value from 20% adverse change $87 $86
Schedule of other serviced loans	The following table presents the unpaid principal balance of other serviced loans: (dollars in millions) December 31, 2023 December 31, 2022 Education $502 $602 Commercial and industrial (1) 94 91 (1) Represents the government guaranteed portion of SBA loans sold to outside investors.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Components of operating lease cost	The components of operating lease cost are presented below. Year Ended December 31, (dollars in millions) 2023 2022 2021 Operating lease cost $221 $216 $161 Short-term lease cost 2 2 1 Variable lease cost 5 7 8 Sublease income (1) (1) (4) Total $227 $224 $166 Year Ended December 31, (dollars in millions) 2023 2022 2021 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $232 $219 $163 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 64 408 79
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, 2023 December 31, 2022 Affected Line Item in Consolidated Balance Sheets Operating lease right-of-use assets $885 $1,019 Other assets Operating lease liabilities 977 1,066 Other liabilities Weighted average remaining lease term (years) 7 7 — Weighted average discount rate 3.10 % 2.74 % —
Lease liability maturity schedule	Lease liabilities maturing under non-cancelable operating leases are presented below as of December 31, 2023. Year (dollars in millions) 2024 $210 2025 201 2026 161 2027 140 2028 111 Thereafter 262 Total lease payments 1,085 Less: Interest 108 Present value of lease liabilities $977

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Changes in the carrying value of goodwill for the years ended December 31, 2023 and 2022 are presented below. (dollars in millions) Consumer Banking Commercial Banking Total 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 Business acquisitions 5 10 15 Balance at December 31, 2023 $2,678 $5,510 $8,188
Carrying value of intangible assets	A summary of the carrying value of intangible assets is presented below. December 31, 2023 December 31, 2022 (dollars in millions) Amortizable Lives (years) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Core deposits 10 $144 $44 $100 $144 $20 $124 Acquired technology 5 - 7 23 21 2 23 19 4 Acquired relationships 2 - 15 52 26 26 54 21 33 Naming Rights 5 - 10 33 12 21 33 7 26 Other 2 - 8 18 10 8 17 7 10 Total $270 $113 $157 $271 $74 $197
Intangible assets future amortization expense	Estimated intangible asset amortization expense for the next five years is as follows: Year (dollars in millions) 2024 $35 2025 32 2026 28 2027 24 2028 17

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of variable interest entities	The following table summarizes the carrying amount of assets and liabilities for the Company’s consolidated VIEs: (dollars in millions) December 31, 2023 Assets: Cash and due from banks $13 Interest-bearing deposits in banks 106 Net loans and leases 3,194 Other assets 14 Total assets $3,327 Liabilities: Long-term borrowed funds $2,692 Other liabilities 8 Total liabilities $2,700 A summary of these investments is presented below: December 31, (dollars in millions) 2023 2022 Lending to special purpose entities included in loans and leases $4,760 $4,578 LIHTC investment included in other assets 2,444 2,230 LIHTC unfunded commitments included in other liabilities 1,025 1,046 Asset-backed investments included in HTM securities 488 581 Renewable energy investments included in other assets 314 374 NMTC investments included in other assets 3 4
Schedule of affordable housing tax credit investments	The following table summarizes the impact to the Consolidated Statements of Operations relative to the Company’s tax credit programs for which it has elected to apply the proportional amortization method of accounting: Year Ended December 31, (dollars in millions) 2023 2022 2021 Tax credits recognized $334 $236 $202 Other tax benefits recognized 71 59 48 Amortization (320) (247) (208) Net benefit (expense) included in income tax expense 85 48 42 Other income 5 — — Allocated income (loss) on investments (10) — — Net benefit (expense) included in noninterest income (5) — — Net benefit (expense) included in the Consolidated Statements of Operations (1) $80 $48 $42 (1) Includes the impact of tax credit investments when the election to apply the proportional amortization method was in effect during the periods presented. For 2023, this includes LIHTC, renewable energy and NMTC investments, and for 2022 and 2021, includes LIHTC investments.

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
Schedule of the major components of deposits	The following table presents the major components of deposits: December 31, (dollars in millions) 2023 2022 Demand $37,107 $49,283 Money market 53,812 49,905 Checking with interest 31,876 39,721 Savings 27,983 29,805 Term 26,564 12,010 Total deposits $177,342 $180,724
Schedule of the major components of deposits	The following table presents the maturity distribution of term deposits by year as of December 31, 2023: Year (dollars in millions) 2024 $25,529 2025 866 2026 74 2027 59 2028 33 2029 and thereafter 3 Total $26,564
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 as of December 31, 2023: (dollars in millions) Three months or less $2,559 After three months through six months 1,527 After six months through twelve months 1,358 After twelve months 229 Total term deposits $5,673

BORROWED FUNDS (Tables)

BORROWED FUNDS (Tables)	12 Months Ended
	Dec. 31, 2023
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, (dollars in millions) 2023 2022 Other short-term borrowed funds $505 $3 Total short-term borrowed funds $505 $3
Schedule of long-term borrowed funds	The following table presents a summary of the Company’s long-term borrowed funds: December 31, (dollars in millions) 2023 2022 Parent Company: 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 499 498 2.500% fixed-rate senior unsecured notes, due February 2030 298 298 3.250% fixed-rate senior unsecured notes, due April 2030 746 746 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 60 61 2.638% fixed-rate subordinated debt, due September 2032 563 556 5.641% fixed-rate reset subordinated debt, due May 2037 398 397 CBNA’s Global Note Program: 3.700% senior unsecured notes, due March 2023 (1) — 497 5.676% floating-rate senior unsecured notes, due March 2023 (1)(2) — 250 2.250% senior unsecured notes, due April 2025 749 748 4.119% fixed/floating-rate senior unsecured notes, due May 2025 649 648 6.064% fixed/floating-rate senior unsecured notes, due October 2025 599 598 5.284% fixed/floating-rate senior unsecured notes, due January 2026 349 — 3.750% senior unsecured notes, due February 2026 483 475 4.575% fixed/floating-rate senior unsecured notes, due August 2028 798 797 Additional Borrowings by CBNA and Other Subsidiaries: Federal Home Loan Bank advances, 5.570% weighted average rate, due through 2041 (3) 3,786 8,519 Secured borrowings, 6.026% weighted average rate, due through 2030 (3)(4) 2,692 — Other 18 19 Total long-term borrowed funds $13,467 $15,887 (1) Notes were redeemed on February 27, 2023. (2) Rate disclosed reflects the floating rate as of December 31, 2023, or final floating rate as applicable. (3) Rate disclosed reflects the weighted average rate as of December 31, 2023. (4) Collateralized by auto loans. See Note 11 for additional information.
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, 2023: (dollars in millions) Parent Company CBNA and Other Subsidiaries Consolidated Year 2024 $107 $363 $470 2025 469 5,771 6,240 2026 499 2,019 2,518 2027 — 5 5 2028 — 1,745 1,745 2029 and thereafter 2,269 220 2,489 Total $3,344 $10,123 $13,467

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 December 31, 2022 (dollars in millions) Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate contracts $86,895 $173 $44 $42,250 $16 $53 Derivatives not designated as hedging instruments: Interest rate contracts 185,993 291 1,105 174,384 331 1,579 Foreign exchange contracts 32,528 434 378 29,475 527 519 Commodities contracts 1,251 685 640 1,103 953 942 TBA contracts 2,337 3 16 2,370 7 14 Other contracts 549 7 — 913 5 4 Total derivatives not designated as hedging instruments 222,658 1,420 2,139 208,245 1,823 3,058 Total gross derivatives 309,553 1,593 2,183 250,495 1,839 3,111 Less: Gross amounts offset in the Consolidated Balance Sheets (1) (471) (471) (623) (623) Less: Cash collateral applied (1) (682) (150) (374) (579) Total net derivatives presented in the Consolidated Balance Sheets $440 $1,562 $842 $1,909 (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, (dollars in millions) 2023 2022 2021 Affected Line Item in the Consolidated Statements of Operations Interest rate swaps hedging long-term borrowed funds $10 ($69) ($72) Interest expense - long-term borrowed funds Hedged long-term borrowed funds attributable to the risk being hedged (10) 68 71 Interest expense - long-term borrowed funds Interest rate swaps hedging LHFS — 13 — Interest and fees on other loans held for sale Hedged LHFS attributable to the risk being hedged — (13) — Interest and fees on other loans held for sale Interest rate swaps hedging debt securities available for sale (48) 29 68 Interest income - investment securities Hedged debt securities available for sale attributable to risk being hedged 50 (29) (68) 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, 2023 December 31, 2022 (dollars in millions) Debt securities available for sale (1) Long-term borrowed funds Debt securities available for sale Long-term borrowed funds Carrying amount of hedged assets $7,253 $— $— $— Carrying amount of hedged liabilities — 483 — 972 Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items 60 (17) — (27) (1) Includes the amortized cost basis of closed portfolios used to designate hedging relationships under the portfolio layer method. The hedged item is a layer of the closed portfolio which is expected to be remaining at the end of the hedging relationship. As of December 31, 2023, the amortized cost basis of the closed portfolios used in these hedging relationships was $5.9 billion, including associated cumulative basis adjustments of $39 million, and the amount of the designated hedging instruments was $4.0 billion.
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, (dollars in millions) 2023 2022 2021 Amount of pre-tax net gains (losses) recognized in OCI ($145) ($1,806) ($66) Amount of pre-tax net gains (losses) reclassified from AOCI into interest income (596) (111) 183 Amount of pre-tax net gains (losses) reclassified from AOCI into interest expense — (4) (48) Using the interest rate curve at December 31, 2023 with respect to cash flow hedge strategies, the Company estimates that approximately $914 million in pre-tax net losses will be reclassified from AOCI to net interest income over the next 12 months, including $460 million related to terminated swaps. 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, 2023.
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 (dollars in millions) 2023 2022 2021 Economic hedge type: Customer interest rate contracts ($505) ($2,027) ($374) Foreign exchange and derivative products Derivatives hedging interest rate risk 551 2,090 401 Foreign exchange and derivative products Customer foreign exchange contracts 94 (180) (207) Foreign exchange and derivative products Derivatives hedging foreign exchange risk 14 313 305 Foreign exchange and derivative products Customer commodity contracts (900) 1,121 779 Foreign exchange and derivative products Derivatives hedging commodity price risk 941 (1,097) (770) Foreign exchange and derivative products Residential loan commitments (34) (284) (208) Mortgage banking fees Derivatives hedging residential loan commitments and mortgage LHFS, at fair value 25 489 152 Mortgage banking fees Derivative contracts used to hedge residential MSRs (33) (313) (150) Mortgage banking fees Total $153 $112 ($72)

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2023
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 (dollars in millions) 2023 2022 2023 2022 Fair value of plan assets as of January 1 $1,182 $1,390 $— $— Return on plan assets 169 (262) — — Employer contributions — — 5 8 Benefits and administrative expenses paid (70) (76) (5) (8) Fair value of plan assets from Investors acquisition — 130 — — Fair value of plan assets as of December 31 1,281 1,182 — — Projected benefit obligation 880 868 99 94 Pension asset (obligation) $401 $314 ($99) ($94) Accumulated benefit obligation $880 $868 $99 $94
Schedule of amounts recognized in other comprehensive income (loss)	The following table presents the components of net periodic benefit cost (income) 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 (dollars in millions) 2023 2022 2021 2023 2022 2021 2023 2022 2021 Service cost $4 $3 $3 $— $— $— $4 $3 $3 Interest cost 46 34 31 5 3 3 51 37 34 Expected return on plan assets (92) (93) (85) — — — (92) (93) (85) Amortization of actuarial loss 15 11 14 2 3 3 17 14 17 Settlement — — 15 — — — — — 15 Net periodic benefit cost (income) (1) (27) (45) (22) 7 6 6 (20) (39) (16) Net actuarial loss (gain) (44) 71 (73) 1 (19) (1) (43) 52 (74) Amortization of actuarial loss (15) (11) (14) (2) (3) (3) (17) (14) (17) Settlement — — (15) — — — — — (15) Total recognized in OCI (59) 60 (102) (1) (22) (4) (60) 38 (106) Total recognized in net periodic benefit cost (income) and OCI ($86) $15 ($124) $6 ($16) $2 ($80) ($1) ($122) (1) other operating expense
Schedule of expected benefit payments	The following table presents the expected future benefit payments for the Company’s Pension Plans: (dollars in millions) Expected benefit payments by fiscal year ending: December 31, 2024 $73 December 31, 2025 74 December 31, 2026 75 December 31, 2027 75 December 31, 2028 75 December 31, 2029 - 2033 366

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2023
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: (dollars in millions) Net Unrealized Gains (Losses) on Derivatives Net Unrealized Gains (Losses) on Debt Securities Employee Benefit Plans Total AOCI Balance at January 1, 2021 ($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) Other comprehensive income (loss) before reclassifications (106) 350 28 272 Amounts reclassified to the Consolidated Statements of Operations 435 83 12 530 Net other comprehensive income (loss) 329 433 40 802 Balance at December 31, 2023 ($1,087) ($2,338) ($333) ($3,758) Primary location in the Consolidated Statements of Operations of amounts reclassified from AOCI Net interest income Securities gains, net and Net interest income Other operating expense

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of preferred stock	The following table summarizes the Company’s preferred stock: December 31, 2023 2022 (dollars in millions, except per 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, 2023: 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. CME Term SOFR plus 3.265% beginning July 6, 2023 (6) 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. CME Term SOFR plus 3.419% beginning April 6, 2024 (6) 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. CME Term SOFR plus 3.904% beginning April 6, 2024 (6) 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. (6)
Schedule of dividends	The following tables summarize the Company’s dividend activity for the years ended December 31, 2023, 2022 and 2021. Year Ended December 31, 2023 2022 2021 (dollars 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 $1.68 $808 $808 $1.62 $779 $779 $1.56 $670 $670 Preferred stock Series A $— $— $— $— $— $— $20.99 $5 $8 Series B 74.49 22 25 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 19 19 63.50 18 18 Series E 50.00 22 22 50.00 22 22 50.00 23 23 Series F 56.50 23 23 56.50 23 23 56.50 23 23 Series G 40.00 12 12 40.00 12 12 22.78 7 4 Total preferred stock $117 $120 $113 $113 $113 $113

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 2022 2021 Units Weighted-Average Grant Price Units Weighted-Average Grant Price Units Weighted-Average Grant Price Outstanding, January 1 3,876,601 $43.06 3,502,956 $38.23 3,496,231 $34.37 Assumed — — — — 82,013 49.95 Granted 2,575,234 39.88 1,844,352 48.12 1,417,370 44.97 Vested & Distributed (1,729,136) 40.84 (1,359,543) 37.47 (1,400,722) 38.88 Forfeited (149,042) 42.92 (111,164) 43.36 (91,936) 35.00 Outstanding, December 31 4,573,657 $42.23 3,876,601 $43.06 3,502,956 $38.23

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2023
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, (dollars in millions) 2023 2022 Commitments to extend credit $94,201 $96,076 Letters of credit 1,977 2,119 Loans sold with recourse 96 92 Marketing rights 18 23 Risk participation agreements 3 4 Total $96,295 $98,314

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 December 31, 2022 (dollars 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 LHFS, at fair value $614 $593 $21 $666 $656 $10 Commercial and industrial, and commercial real estate LHFS, at fair value 62 69 (7) 108 127 (19)
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, 2023: (dollars in millions) Total Level 1 Level 2 Level 3 Debt securities available for sale: Mortgage-backed securities $24,732 $— $24,732 $— Collateralized loan obligations 664 — 664 — State and political subdivisions 1 — 1 — U.S. Treasury and other 4,380 4,380 — — Total debt securities available for sale 29,777 4,380 25,397 — Loans held for sale, at fair value: Residential loans held for sale 614 — 614 — Commercial loans held for sale 62 — 62 — Total loans held for sale, at fair value 676 — 676 — Mortgage servicing rights 1,552 — — 1,552 Derivative assets: Interest rate contracts 464 — 464 — Foreign exchange contracts 434 — 434 — Commodities contracts 685 — 685 — TBA contracts 3 — 3 — Other contracts 7 — — 7 Total derivative assets 1,593 — 1,586 7 Equity securities, at fair value (1) 115 115 — — Total assets $33,713 $4,495 $27,659 $1,559 Derivative liabilities: Interest rate contracts $1,149 $— $1,149 $— Foreign exchange contracts 378 — 378 — Commodities contracts 640 — 640 — TBA contracts 16 — 16 — Other contracts — — — — Total derivative liabilities 2,183 — 2,183 — Total liabilities $2,183 $— $2,183 $— (1) Excludes investments of $58 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 investments include capital contributions to private investment funds and have unfunded capital commitments of $28 million at December 31, 2023, 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, 2022: (dollars 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 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.
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, 2023 2022 (dollars in millions) Mortgage Servicing Rights Other Derivative Contracts Mortgage Servicing Rights Other Derivative Contracts Beginning balance $1,530 $1 $1,029 $38 Issuances 127 64 279 93 Acquisitions (1) — — 16 — Settlements (2) (166) (24) (137) 154 Changes in fair value during the period recognized in earnings (3) 61 (34) 343 (284) Ending balance $1,552 $7 $1,530 $1 (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 interest rate lock commitments. (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, 2023 As of December 31, 2022 Valuation Technique Unobservable Input Range (Weighted Average) Range (Weighted Average) Mortgage servicing rights Discounted Cash Flow Constant prepayment rate 6.70-14.55% CPR (7.23% CPR) 6.19-17.80% CPR (6.80% CPR) Option adjusted spread 398-1,058 bps (630 bps) 398-1,058 bps (629 bps) Other derivative contracts Internal Model Pull through rate 24.90-99.70% (80.34%) 28.62-99.90% (83.71%) MSR value (8.90)-141.24 bps (88.04 bps) (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, (dollars in millions) 2023 2022 2021 Collateral-dependent loans ($138) ($4) ($27)
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, 2023 December 31, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Collateral-dependent loans $789 $— $789 $— $582 $— $582 $—
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, 2023 Total Level 1 Level 2 Level 3 (dollars 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 $9,184 $8,350 $— $— $8,696 $7,887 $488 $463 Other loans held for sale 103 103 — — — — 103 103 Net loans and leases (1) 143,861 140,504 — — 789 789 143,072 139,715 Other assets 869 869 — — 851 851 18 18 Financial liabilities: Deposits 177,342 177,096 — — 177,342 177,096 — — Short-term borrowed funds 505 505 — — 505 505 — — Long-term borrowed funds 13,467 13,012 — — 13,467 13,012 — — December 31, 2022 Total Level 1 Level 2 Level 3 (dollars 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 Net loans and leases (1) 154,679 151,601 — — 582 582 154,097 151,019 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 — — (1) During 2023, the Company revised its presentation of the loans and leases portfolio from a gross to net basis to better align with its presentation on the Consolidated Balance Sheets. The prior period presentation was revised to conform to the new presentation.

NONINTEREST INCOME (Tables)

NONINTEREST INCOME (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Components of revenue from contracts with customers	The following tables present the components of revenue from contracts with customers disaggregated by revenue stream and business operating segment: Year Ended December 31, 2023 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Service charges and fees $277 $131 $— $1 $409 Card fees 244 47 — — 291 Capital markets fees — 293 — — 293 Trust and investment services fees 259 — — — 259 Other banking fees 3 11 — — 14 Total revenue from contracts with customers $783 $482 $— $1 $1,266 Total revenue from other sources (1) 284 302 — 131 717 Total noninterest income $1,067 $784 $— $132 $1,983 Year Ended December 31, 2022 (dollars in millions) Consumer Banking Commercial Banking Non-Core 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 (dollars in millions) Consumer Banking Commercial Banking Non-Core 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 (1) Includes bank-owned life insurance income of $93 million, $88 million and $67 million for the years ended December 31, 2023, 2022 and 2021, respectively.

OTHER OPERATING EXPENSE (Tables

OTHER OPERATING EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Schedule of other operating expense	The following table presents the details of other operating expense: Year Ended December 31, (dollars in millions) 2023 2022 2021 Marketing $187 $166 $111 Deposit insurance 390 96 66 Other 396 323 234 Other operating expense $973 $585 $411

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of comprehensive income tax	The following table presents total income tax expense: Year Ended December 31, (dollars in millions) 2023 2022 2021 Income tax expense $422 $582 $658 Tax effect of changes in OCI 289 (1,319) (199) Total comprehensive income tax expense (benefit) $711 ($737) $459
Schedule of components of income tax expense	The following table presents the components of income tax expense: (dollars in millions) Current Deferred Total Year Ended December 31, 2023 U.S. federal $497 ($135) $362 State and local 167 (107) 60 Total $664 ($242) $422 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
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, 2023 2022 2021 (dollars in millions) Amount Rate Amount Rate Amount Rate U.S. federal income tax expense and tax rate $426 21.0 % $558 21.0 % $625 21.0 % Increase (decrease) resulting from: State and local income taxes (net of federal benefit) 58 2.9 133 5.0 126 4.2 Bank-owned life insurance (20) (1.0) (19) (0.7) (14) (0.5) Tax-exempt interest (12) (0.6) (8) (0.3) (7) (0.2) Tax advantaged investments (including related credits) (77) (3.8) (102) (3.8) (95) (3.2) Other tax credits (3) (0.1) (9) (0.3) (7) (0.2) Adjustments for uncertain tax positions 5 0.2 1 — 3 0.1 Non-deductible FDIC insurance premiums 35 1.7 20 0.7 14 0.5 Legacy tax matters — — 3 0.1 — — Other 10 0.5 5 0.2 13 0.4 Total income tax expense and effective tax rate $422 20.8 % $582 21.9 % $658 22.1 %
Schedule of deferred tax assets and liabilities	The following table presents the significant components of the Company’s deferred tax assets and liabilities: December 31, (dollars in millions) 2023 2022 Deferred tax assets: Other comprehensive income $1,291 $1,546 Allowance for credit losses 555 511 Federal and state net operating and capital loss carryforwards 79 77 Accrued expenses 1,152 863 Investment and other tax credit carryforwards 130 131 Other 9 19 Total deferred tax assets 3,216 3,147 Valuation allowance (137) (133) Deferred tax assets, net of valuation allowance 3,079 3,014 Deferred tax liabilities: Leasing transactions 297 287 Amortization of intangibles 421 413 Depreciation 532 470 Pension and other employee compensation plans 130 128 Partnerships 12 87 Deferred Income 3 12 MSRs 252 203 Total deferred tax liabilities 1,647 1,600 Net deferred tax asset (liability) $1,432 $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, (dollars in millions) 2023 2022 2021 Balance at the beginning of the year $6 $7 $4 Gross increase for tax positions related to current year 1 — 1 Gross increase for tax positions related to prior years 1 — 3 Decrease for tax positions as a result of the lapse of the statutes of limitations — — (1) Decrease for tax positions related to settlements with taxing authorities (1) (1) — Balance at end of year $7 $6 $7

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share	Year Ended December 31, (dollars in millions, except per share data) 2023 2022 2021 Numerator (basic and diluted): Net income $1,608 $2,073 $2,319 Less: Preferred stock dividends 117 113 113 Net income available to common stockholders $1,491 $1,960 $2,206 Denominator: Weighted-average common shares outstanding - basic 475,089,384 475,959,815 425,669,451 Dilutive common shares: share-based awards 1,603,764 1,843,327 1,766,367 Weighted-average common shares outstanding - diluted 476,693,148 477,803,142 427,435,818 Earnings per common share: Basic $3.14 $4.12 $5.18 Diluted (1) 3.13 4.10 5.16 (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 2,210,857, 949,606 and 2,929 for the years ended December 31, 2023, 2022 and 2021, respectively.

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2023
Mortgage Banking [Abstract]
Schedule of compliance with regulatory capital requirements under banking regulations	The following table presents the regulatory 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 (dollars in millions) Amount Ratio Amount Ratio (1) As of December 31, 2023 CET1 capital CFG $18,358 10.6 % $14,671 8.5 % CBNA 19,411 11.3 12,047 7.0 Tier 1 capital CFG 20,372 11.8 17,260 10.0 CBNA 19,411 11.3 14,628 8.5 Total capital CFG 23,608 13.7 20,712 12.0 CBNA 22,453 13.0 18,070 10.5 Tier 1 leverage CFG 20,372 9.3 8,784 4.0 CBNA 19,411 8.9 8,759 4.0 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 (1) Represents minimum requirement under the current capital framework plus the SCB of 4.0% 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, 2023
Segment Reporting [Abstract]
Schedule of segment reporting information	Year Ended December 31, 2023 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Net interest income $4,187 $2,292 ($129) ($109) $6,241 Noninterest income 1,067 784 — 132 1,983 Total revenue 5,254 3,076 (129) 23 8,224 Noninterest expense 3,542 1,295 123 547 5,507 Profit (loss) before provision (benefit) for credit losses 1,712 1,781 (252) (524) 2,717 Provision (benefit) for credit losses 280 250 78 79 687 Income (loss) before income tax expense (benefit) 1,432 1,531 (330) (603) 2,030 Income tax expense (benefit) 373 378 (86) (243) 422 Net income (loss) $1,059 $1,153 ($244) ($360) $1,608 Total average assets $72,693 $76,028 $13,745 $59,755 $222,221 Year Ended December 31, 2022 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Net interest income $3,649 $2,103 $378 ($118) $6,012 Noninterest income 1,063 845 — 101 2,009 Total revenue 4,712 2,948 378 (17) 8,021 Noninterest expense 3,255 1,223 136 278 4,892 Profit (loss) before provision (benefit) for credit losses 1,457 1,725 242 (295) 3,129 Provision (benefit) for credit losses 174 46 52 202 474 Income (loss) before income tax expense (benefit) 1,283 1,679 190 (497) 2,655 Income tax expense (benefit) 328 375 48 (169) 582 Net income (loss) $955 $1,304 $142 ($328) $2,073 Total average assets $68,027 $74,919 $18,121 $53,994 $215,061 Year Ended December 31, 2021 (dollars in millions) Consumer Banking Commercial Banking Non-Core Other Consolidated Net interest income $2,943 $1,706 $594 ($731) $4,512 Noninterest income 1,223 809 — 103 2,135 Total revenue 4,166 2,515 594 (628) 6,647 Noninterest expense 2,857 973 130 121 4,081 Profit (loss) before provision (benefit) for credit losses 1,309 1,542 464 (749) 2,566 Provision (benefit) for credit losses 162 156 23 (752) (411) Income (loss) before income tax expense (benefit) 1,147 1,386 441 3 2,977 Income tax expense (benefit) 292 300 112 (46) 658 Net income (loss) $855 $1,086 $329 $49 $2,319 Total average assets $57,916 $57,617 $17,592 $51,981 $185,106

PARENT COMPANY FINANCIALS (Tabl

PARENT COMPANY FINANCIALS (Tables)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Condensed balance sheets	Condensed Balance Sheets (dollars in millions) December 31, 2023 December 31, 2022 ASSETS: Cash and due from banks $2,864 $1,821 Loans and advances to: Bank subsidiary 1,152 1,153 Nonbank subsidiaries 154 135 Investments in subsidiaries: Bank subsidiary 23,289 23,674 Nonbank subsidiaries 291 302 Other assets 194 182 Total assets $27,944 $27,267 LIABILITIES: Long-term borrowed funds $3,344 $3,336 Other liabilities 258 241 Total liabilities 3,602 3,577 Total stockholders’ equity 24,342 23,690 Total liabilities and stockholders’ equity $27,944 $27,267
Condensed statements of operations	Condensed Statements of Operations Year Ended December 31, (dollars in millions) 2023 2022 2021 OPERATING INCOME: Income from bank subsidiaries, excluding equity in undistributed income: Dividends $2,875 $450 $1,120 Interest 43 39 35 Management and service fees 69 69 64 Income from nonbank subsidiaries, excluding equity in undistributed income: Dividends — 43 57 Interest 8 3 2 All other operating income 1 1 1 Total operating income 2,996 605 1,279 OPERATING EXPENSE: Salaries and employee benefits 39 43 36 Interest expense 129 125 119 All other expenses 31 28 28 Total operating expense 199 196 183 Income (loss) before taxes and undistributed income 2,797 409 1,096 Income tax expense (benefit) (13) (13) (16) Income before undistributed income of subsidiaries 2,810 422 1,112 Equity in undistributed income (losses) of subsidiaries: Bank (1,163) 1,724 1,188 Nonbank (39) (73) 19 Net income $1,608 $2,073 $2,319 Total other comprehensive income (loss), net of income taxes (1) 802 (3,895) (605) Total comprehensive income (loss) $2,410 ($1,822) $1,714 (1) See Consolidated Statements of Comprehensive Income for comprehensive income (loss) detail.
Condensed cash flow statements	Condensed Cash Flow Statements Year Ended December 31, (dollars in millions) 2023 2022 2021 OPERATING ACTIVITIES Net income $1,608 $2,073 $2,319 Adjustments to reconcile net income to net change in cash due to operating activities: Deferred income tax expense (benefit) (4) (11) — Equity in undistributed (income) losses of subsidiaries 1,202 (1,651) (1,207) Other, net 96 92 67 Net increase (decrease) in other liabilities (17) (7) 34 Net (increase) decrease in other assets 17 (44) 12 Net change due to operating activities 2,902 452 1,225 INVESTING ACTIVITIES Investments in and advances to subsidiaries (76) (156) (196) Repayment of investments in and advances to subsidiaries 30 121 125 Acquisitions, net of cash acquired — (23) (165) Other investing, net — (1) (1) Net change due to investing activities (46) (59) (237) FINANCING ACTIVITIES Proceeds from issuance of long-term borrowed funds — 414 — Repayments of long-term borrowed funds — (182) (350) Treasury stock purchased (906) (153) (295) Net proceeds from issuance of preferred stock — — 296 Redemption of preferred stock — — (250) Dividends paid to common stockholders (808) (779) (670) Dividends paid to preferred stockholders (120) (113) (113) Other financing, net 21 (25) (20) Net change due to financing activities (1,813) (838) (1,402) Net change in cash and due from banks 1,043 (445) (414) Cash and due from banks at beginning of year 1,821 2,266 2,680 Cash and due from banks at end of year $2,864 $1,821 $2,266

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Millions			12 Months Ended
		Jan. 01, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings			$ (9,816)	$ (9,159)
Other assets	[1]		(13,359)	(13,089)
Income tax expense			$ (422)	$ (582)	$ (658)
Accounting Standards Update 2023-02 | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ 26
Other assets		101
Income tax expense		$ (75)
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.

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 $ / shares shares	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Feb. 18, 2022 USD ($) branch
Business Acquisition [Line Items]
Goodwill			$ 8,173	$ 8,188	$ 8,173	$ 7,116
Credit mark on PCD loans	$ 101
Income before income tax expense				2,030	2,655	2,977
Cumulative costs incurred in connection with acquisition		$ 13
Allowance on PCD loans and leases at acquisition					101
Provision expense (benefit) for loans and leases				$ 724	$ 394	$ (360)
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	$ 887
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, 2023	Dec. 31, 2021
Liabilities assumed
Goodwill		$ 8,173	$ 8,188	$ 7,116
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 acquired	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	919
Total assets acquired	27,514
Liabilities assumed
Deposits	20,217
Borrowed funds	4,097
Other liabilities	677
Total liabilities assumed	24,991
Less: Net assets	2,523
Goodwill	$ 887
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]
Earnings since acquisition	$ 287
Net interest income
Business Acquisition [Line Items]
Earnings since acquisition	627
Noninterest income
Business Acquisition [Line Items]
Earnings since acquisition	$ 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, 2023	Dec. 31, 2022
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Provision for credit losses	$ 724	$ 394	$ (360)
Salaries and employee benefits	2,599	2,549	2,132
Outside services	687	700	595
Other operating expense	973	585	411
Income before income tax expense	2,030	$ 2,655	$ 2,977
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
Income before income tax expense	$ 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 - Schedule of Invest

SECURITIES - Schedule of Investments (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Fair Value	[1]	$ 29,777	$ 24,007
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost	[1]	9,184	9,834
Gross Unrealized Gains		9	4
Gross Unrealized Losses		(843)	(796)
Fair Value	[1]	8,350	9,042
Total equity securities, at cost, Amortized Cost		869	1,058
Equity securities, at cost, Fair Value		869	1,058
Equity securities, Amortized Cost		173	153
Equity securities, Fair Value		173	153
Portfolio level basis adjustments excluded from amortized cost		60
Debt Securities
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		31,729	26,458
Gross Unrealized Gains		71	11
Gross Unrealized Losses		(2,023)	(2,462)
Fair Value		29,777	24,007
U.S. Treasury and other
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		4,493	3,678
Gross Unrealized Gains		26	1
Gross Unrealized Losses		(139)	(193)
Fair Value		4,380	3,486
State and political subdivisions
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		1	2
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Fair Value		1	2
Total mortgage-backed securities
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		26,568	21,530
Gross Unrealized Gains		45	10
Gross Unrealized Losses		(1,881)	(2,227)
Fair Value		24,732	19,313
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		8,696	9,253
Gross Unrealized Gains		9	4
Gross Unrealized Losses		(818)	(751)
Fair Value		7,887	8,506
Federal agencies and U.S. government sponsored entities
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		26,289	21,250
Gross Unrealized Gains		45	10
Gross Unrealized Losses		(1,857)	(2,198)
Fair Value		24,477	19,062
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		8,696	9,253
Gross Unrealized Gains		9	4
Gross Unrealized Losses		(818)	(751)
Fair Value		7,887	8,506
Other/non-agency
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		279	280
Gross Unrealized Gains		0	0
Gross Unrealized Losses		(24)	(29)
Fair Value		255	251
Collateralized loan obligations
Debt Securities, Available-for-Sale, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		667	1,248
Gross Unrealized Gains		0	0
Gross Unrealized Losses		(3)	(42)
Fair Value		664	1,206
Asset-backed securities
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Amortized Cost		488	581
Gross Unrealized Gains		0	0
Gross Unrealized Losses		(25)	(45)
Fair Value		$ 463	$ 536
[1]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.

SECURITIES - Narrative (Details

SECURITIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Accrued interest receivable on debt securities	$ 125,000,000	$ 107,000,000
Taxable interest income from investment securities	1,200,000,000	840,000,000	$ 487,000,000
Offsetting of short-term receivables or payables recognized	$ 0	0
Held-to-maturity, zero expected credit loss, percent of portfolio	95%
Total mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Securitizations of mortgage loans	$ 102,000,000	$ 143,000,000

SECURITIES - Schedule of Availa

SECURITIES - Schedule of Available for Sale Securities Debt Maturities (Details) $ in Millions	Dec. 31, 2023 USD ($)
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	4,614
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	3,735
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	23,380
Amortized Cost, Debt securities available for sale, Total	31,729
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	488
Amortized Cost, Debt securities held to maturity, Maturity of 5-10 Years	0
Amortized Cost, Debt securities held to maturity, Maturity After 10 Years	8,696
Amortized Cost, Debt securities held to maturity, Total	9,184
Total amortized cost of debt securities, Maturity of 1 Year or Less	0
Total amortized cost of debt securities, Maturity of 1-5 Years	5,102
Total amortized cost of debt securities, Maturity of 5-10 Years	3,735
Total amortized cost of debt securities, Maturity After 10 Years	32,076
Total amortized cost of debt securities, Total	40,913
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	4,445
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	3,623
Fair Value, Debt securities available for sale, Maturity After 10 Years	21,709
Fair Value, Debt securities available for sale, Total	29,777
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	463
Fair Value, Debt securities held to maturity, Maturity of 5-10 Years	0
Fair Value, Debt securities held to maturity, Maturity After 10 Years	7,887
Fair Value, Debt securities held to maturity, Total	8,350
Total fair value of debt securities, Maturity of 1 Year or Less	0
Total fair value of debt securities, Maturity of 1-5 Years	4,908
Total fair value of debt securities, Maturity of 5-10 Years	3,623
Total fair value of debt securities, Maturity After 10 Years	29,596
Total fair value of debt securities, Total	38,127
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	3,015
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	1,478
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	0
Amortized Cost, Debt securities available for sale, Total	4,493
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	2,906
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	1,474
Fair Value, Debt securities available for sale, Maturity After 10 Years	0
Fair Value, Debt securities available for sale, Total	4,380
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	1
Amortized Cost, Debt securities available for sale, Total	1
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	1
Fair Value, Debt securities available for sale, Total	1
Federal agencies and U.S. government sponsored entities
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	1,599
Amortized Cost, Debt securities available for sale, Maturity of 5-10 Years	2,157
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	22,533
Amortized Cost, Debt securities available for sale, Total	26,289
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	8,696
Amortized Cost, Debt securities held to maturity, Total	8,696
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	1,539
Fair Value, Debt securities available for sale, Maturity of 5-10 Years	2,049
Fair Value, Debt securities available for sale, Maturity After 10 Years	20,889
Fair Value, Debt securities available for sale, Total	24,477
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	7,887
Fair Value, Debt securities held to maturity, Total	7,887
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	279
Amortized Cost, Debt securities available for sale, Total	279
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	255
Fair Value, Debt securities available for sale, Total	255
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	100
Amortized Cost, Debt securities available for sale, Maturity After 10 Years	567
Amortized Cost, Debt securities available for sale, Total	667
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	100
Fair Value, Debt securities available for sale, Maturity After 10 Years	564
Fair Value, Debt securities available for sale, Total	664
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	488
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	488
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	463
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	$ 463

SECURITIES - Income Recognized

SECURITIES - Income Recognized from Investment Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Gains on sale of debt securities	$ 36	$ 13	$ 15
Losses	(8)	(4)	(5)
Debt securities gains, net	$ 28	$ 9	$ 10

SECURITIES - Schedule of Securi

SECURITIES - Schedule of Securities Pledged (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
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	$ 5,619	$ 3,966
Debt securities at fair value	5,305	3,527
Pledged as collateral for FHLB borrowing capacity
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities at amortized cost	242	244
Debt securities at fair value	220	217
Pledged against repurchase agreements
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt securities at amortized cost	0	0
Debt securities at fair value	$ 0	$ 0

SECURITIES - Schedule of Inve_2

SECURITIES - Schedule of Investments in Continuous Loss Positions (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value
Less than 12 Months	$ 3,044	$ 17,574
12 Months or Longer	20,505	5,634
Total	23,549	23,208
Gross Unrealized Losses
Less than 12 Months	(24)	(1,363)
12 Months or Longer	(1,999)	(1,099)
Total	(2,023)	(2,462)
U.S. Treasury and other
Fair Value
Less than 12 Months	49	3,356
12 Months or Longer	3,245	0
Total	3,294	3,356
Gross Unrealized Losses
Less than 12 Months	0	(193)
12 Months or Longer	(139)	0
Total	(139)	(193)
Total mortgage-backed securities
Fair Value
Less than 12 Months	2,939	13,433
12 Months or Longer	16,653	5,213
Total	19,592	18,646
Gross Unrealized Losses
Less than 12 Months	(24)	(1,144)
12 Months or Longer	(1,857)	(1,083)
Total	(1,881)	(2,227)
Federal agencies and U.S. government sponsored entities
Fair Value
Less than 12 Months	2,939	13,353
12 Months or Longer	16,398	5,042
Total	19,337	18,395
Gross Unrealized Losses
Less than 12 Months	(24)	(1,136)
12 Months or Longer	(1,833)	(1,062)
Total	(1,857)	(2,198)
Other/non-agency
Fair Value
Less than 12 Months	0	80
12 Months or Longer	255	171
Total	255	251
Gross Unrealized Losses
Less than 12 Months	0	(8)
12 Months or Longer	(24)	(21)
Total	(24)	(29)
Collateralized loan obligations
Fair Value
Less than 12 Months	56	785
12 Months or Longer	607	421
Total	663	1,206
Gross Unrealized Losses
Less than 12 Months	0	(26)
12 Months or Longer	(3)	(16)
Total	$ (3)	$ (42)

LOANS AND LEASES - Narrative (D

LOANS AND LEASES - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest receivable		$ 875	$ 820
Net loans and leases	[1]	143,861	154,679
Interest income on direct financing and sales-type leases		46	46	$ 49
Retail | Residential mortgages | Pledged as collateral for FHLB borrowing capacity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net loans and leases		36,000	38,400
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		$ 31,900	$ 34,800
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
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.

LOANS AND LEASES - Summary of L

LOANS AND LEASES - Summary of Loans and Leases Portfolio (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 145,959	$ 156,662
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	74,445	82,180
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	43,826	51,836
Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	29,471	28,865
Commercial | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	1,148	1,479
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	71,514	74,482
Retail | Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	31,332	29,921
Retail | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	15,040	14,043
Retail | Automobile
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	8,258	12,292
Retail | Education
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	11,834	12,808
Retail | Other retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 5,050	$ 5,418

LOANS AND LEASES - Loans Held F

LOANS AND LEASES - Loans Held For Sale (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	$ 676	$ 774
Other loans held for sale	103	208
Retail | Residential loans held for sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	614	666
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	62	108
Other loans held for sale	$ 103	$ 208

LOANS AND LEASES - Components o

LOANS AND LEASES - Components of Investments in Leases (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Total future minimum lease rentals	$ 942	$ 1,193
Estimated residual value of leased equipment (non-guaranteed)	322	413
Initial direct costs	5	5
Unearned income	(121)	(132)
Total leases	$ 1,148	$ 1,479

LOANS AND LEASES - Maturity of

LOANS AND LEASES - Maturity of Direct Finance Lease (Details) $ in Millions	Dec. 31, 2023 USD ($)
Receivables [Abstract]
2024	$ 258
2025	213
2026	156
2027	133
2028	84
Thereafter	98
Total undiscounted future minimum lease rentals	$ 942

CREDIT QUALITY AND THE ALLOWA_3

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases	$ 145,959	$ 156,662
Mortgage loans collateralized by residential real estate property	336	250
Net charge-offs	609	270	$ 325
Provision (benefit) for credit losses	687	474	(411)
Allowance for credit losses	78
Modified TDRs charge-offs	757	434	539
Unfunded commitments related to TDRs	221	81
Troubled Debt Restructuring
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified TDRs charge-offs		3
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Allowance for credit losses, individually evaluated for impairment	5
Loans and leases	74,445	82,180
Net charge-offs	267	52	164
Modified TDRs charge-offs	285	70	218
Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases	71,514	74,482
Net charge-offs	342	218	161
Modified TDRs charge-offs	472	364	$ 321
Commercial and industrial | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases	43,826	51,836
Modified TDRs charge-offs	121
Collateral Dependent | Home Equity Loan And Residential Mortgages | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases	556	561
Collateral Dependent | Commercial and industrial | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans and leases	$ 233	$ 21

CREDIT QUALITY AND THE ALLOWA_4

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Summary of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 06, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan and lease losses, beginning of period		$ 1,983	$ 1,758	$ 2,443
Allowance on PCD loans and leases at acquisition			101
Charge-offs		(757)	(434)	(539)
Recoveries		148	164	214
Net charge-offs		(609)	(270)	(325)
Provision expense (benefit) for loans and leases		724	394	(360)
Allowance for loan and lease losses, end of period		2,098	1,983	1,758
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period		257	176	227
Provision expense (benefit) for unfunded lending commitments		(37)	80	(51)
Allowance on PCD unfunded lending commitments at acquisition			1
Allowance for unfunded lending commitments, end of period		220	257	176
Total allowance for credit losses, end of period		2,318	2,240	1,934
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		1,060	821	1,233
Allowance on PCD loans and leases at acquisition			99
Charge-offs		(285)	(70)	(218)
Recoveries		18	18	54
Net charge-offs		(267)	(52)	(164)
Provision expense (benefit) for loans and leases		457	192	(248)
Allowance for loan and lease losses, end of period		1,250	1,060	821
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period		207	153	186
Provision expense (benefit) for unfunded lending commitments		(32)	53	(33)
Allowance on PCD unfunded lending commitments at acquisition			1
Allowance for unfunded lending commitments, end of period		175	207	153
Total allowance for credit losses, end of period		1,425	1,267	974
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		923	937	1,210
Allowance on PCD loans and leases at acquisition			2
Charge-offs		(472)	(364)	(321)
Recoveries		130	146	160
Net charge-offs		(342)	(218)	(161)
Provision expense (benefit) for loans and leases		267	202	(112)
Allowance for loan and lease losses, end of period		848	923	937
Unfunded lending commitments [Roll Forward]
Allowance for unfunded lending commitments, beginning of period		50	23	41
Provision expense (benefit) for unfunded lending commitments		(5)	27	(18)
Allowance on PCD unfunded lending commitments at acquisition			0
Allowance for unfunded lending commitments, end of period		45	50	23
Total allowance for credit losses, end of period		$ 893	$ 973	$ 960

CREDIT QUALITY AND THE ALLOWA_5

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Amortized Cost Basis by Credit Quality Indicator (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	$ 145,959	$ 156,662
Gross charge-offs
Total	757	434	$ 539
Commercial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	5,669	14,715
Year two	13,841	15,843
Year three	12,883	6,633
Year four	4,966	6,280
Year five	4,476	4,245
Prior to year five	8,133	7,076
Within the Revolving Period	24,399	27,221
Converted to Term	78	167
Total	74,445	82,180
Gross charge-offs
Year one	1
Year two	3
Year three	34
Year four	60
Year five	14
Prior to year five	129
Within the Revolving Period	44
Converted to Term	0
Total	285	70	218
Commercial | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	5,600	14,334
Year two	12,303	15,274
Year three	11,393	6,113
Year four	4,000	5,239
Year five	3,441	3,607
Prior to year five	6,194	5,833
Within the Revolving Period	23,008	26,099
Converted to Term	61	151
Total	66,000	76,650
Commercial | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	59	129
Year two	934	313
Year three	894	225
Year four	252	470
Year five	233	148
Prior to year five	373	269
Within the Revolving Period	443	426
Converted to Term	0	0
Total	3,188	1,980
Commercial | Substandard Accrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	8	239
Year two	466	229
Year three	540	272
Year four	687	505
Year five	653	443
Prior to year five	1,226	921
Within the Revolving Period	892	577
Converted to Term	11	12
Total	4,483	3,198
Commercial | Nonaccrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	2	13
Year two	138	27
Year three	56	23
Year four	27	66
Year five	149	47
Prior to year five	340	53
Within the Revolving Period	56	119
Converted to Term	6	4
Total	774	352
Commercial | Commercial and industrial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	3,664	8,588
Year two	6,779	8,890
Year three	5,779	2,548
Year four	1,499	2,408
Year five	1,259	1,522
Prior to year five	2,530	2,468
Within the Revolving Period	22,246	25,248
Converted to Term	70	164
Total	43,826	51,836
Gross charge-offs
Year one	1
Year two	3
Year three	34
Year four	4
Year five	1
Prior to year five	34
Within the Revolving Period	44
Converted to Term	0
Total	121
Commercial | Commercial and industrial | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	3,599	8,304
Year two	6,338	8,469
Year three	5,049	2,224
Year four	1,254	2,074
Year five	1,085	1,334
Prior to year five	2,031	1,952
Within the Revolving Period	21,033	24,211
Converted to Term	53	148
Total	40,442	48,716
Commercial | Commercial and industrial | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	59	124
Year two	194	189
Year three	354	120
Year four	29	74
Year five	48	48
Prior to year five	113	153
Within the Revolving Period	368	364
Converted to Term	0	0
Total	1,165	1,072
Commercial | Commercial and industrial | Substandard Accrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	5	148
Year two	175	210
Year three	325	194
Year four	212	254
Year five	121	97
Prior to year five	284	330
Within the Revolving Period	792	554
Converted to Term	11	12
Total	1,925	1,799
Commercial | Commercial and industrial | Nonaccrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1	12
Year two	72	22
Year three	51	10
Year four	4	6
Year five	5	43
Prior to year five	102	33
Within the Revolving Period	53	119
Converted to Term	6	4
Total	294	249
Commercial | Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1,907	5,860
Year two	6,847	6,581
Year three	6,806	3,830
Year four	3,269	3,764
Year five	3,149	2,594
Prior to year five	5,332	4,260
Within the Revolving Period	2,153	1,973
Converted to Term	8	3
Total	29,471	28,865
Gross charge-offs
Year one	0
Year two	0
Year three	0
Year four	56
Year five	13
Prior to year five	95
Within the Revolving Period	0
Converted to Term	0
Total	164
Commercial | Commercial real estate | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1,906	5,767
Year two	5,791	6,442
Year three	6,062	3,639
Year four	2,555	3,066
Year five	2,294	2,145
Prior to year five	3,895	3,536
Within the Revolving Period	1,975	1,888
Converted to Term	8	3
Total	24,486	26,486
Commercial | Commercial real estate | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	1
Year two	713	119
Year three	539	103
Year four	222	390
Year five	183	99
Prior to year five	260	113
Within the Revolving Period	75	62
Converted to Term	0	0
Total	1,992	887
Commercial | Commercial real estate | Substandard Accrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	91
Year two	277	15
Year three	203	75
Year four	469	248
Year five	528	346
Prior to year five	939	591
Within the Revolving Period	100	23
Converted to Term	0	0
Total	2,516	1,389
Commercial | Commercial real estate | Nonaccrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1	1
Year two	66	5
Year three	2	13
Year four	23	60
Year five	144	4
Prior to year five	238	20
Within the Revolving Period	3	0
Converted to Term	0	0
Total	477	103
Commercial | Leases
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	98	267
Year two	215	372
Year three	298	255
Year four	198	108
Year five	68	129
Prior to year five	271	348
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,148	1,479
Gross charge-offs
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior to year five	0
Within the Revolving Period	0
Converted to Term	0
Total	0
Commercial | Leases | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	95	263
Year two	174	363
Year three	282	250
Year four	191	99
Year five	62	128
Prior to year five	268	345
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,072	1,448
Commercial | Leases | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	4
Year two	27	5
Year three	1	2
Year four	1	6
Year five	2	1
Prior to year five	0	3
Within the Revolving Period	0	0
Converted to Term	0	0
Total	31	21
Commercial | Leases | Substandard Accrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	3	0
Year two	14	4
Year three	12	3
Year four	6	3
Year five	4	0
Prior to year five	3	0
Within the Revolving Period	0	0
Converted to Term	0	0
Total	42	10
Commercial | Leases | Nonaccrual
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	0
Year two	0	0
Year three	3	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	3	0
Retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	4,817	11,158
Year two	10,219	18,251
Year three	15,492	11,083
Year four	9,169	5,223
Year five	4,095	2,457
Prior to year five	9,675	9,401
Within the Revolving Period	17,008	15,803
Converted to Term	1,039	1,106
Total	71,514	74,482
Gross charge-offs
Year one	52
Year two	63
Year three	68
Year four	48
Year five	41
Prior to year five	70
Within the Revolving Period	129
Converted to Term	1
Total	472	364	$ 321
Retail | Residential mortgages
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	2,653	5,421
Year two	5,821	9,071
Year three	8,761	5,519
Year four	5,180	2,432
Year five	2,274	1,017
Prior to year five	6,643	6,461
Within the Revolving Period	0	0
Converted to Term	0	0
Total	31,332	29,921
Gross charge-offs
Year one	0
Year two	0
Year three	0
Year four	1
Year five	1
Prior to year five	4
Within the Revolving Period	0
Converted to Term	0
Total	6
Retail | Home equity
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1	7
Year two	9	9
Year three	9	8
Year four	7	36
Year five	30	57
Prior to year five	423	496
Within the Revolving Period	13,529	12,340
Converted to Term	1,032	1,090
Total	15,040	14,043
Gross charge-offs
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior to year five	3
Within the Revolving Period	8
Converted to Term	1
Total	12
Retail | Automobile
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	500	3,276
Year two	2,335	5,141
Year three	3,444	2,028
Year four	1,207	1,160
Year five	576	474
Prior to year five	196	213
Within the Revolving Period	0	0
Converted to Term	0	0
Total	8,258	12,292
Gross charge-offs
Year one	3
Year two	34
Year three	41
Year four	14
Year five	12
Prior to year five	9
Within the Revolving Period	0
Converted to Term	0
Total	113
Retail | Education
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	852	1,712
Year two	1,737	3,586
Year three	3,114	3,131
Year four	2,622	1,400
Year five	1,150	820
Prior to year five	2,359	2,159
Within the Revolving Period	0	0
Converted to Term	0	0
Total	11,834	12,808
Gross charge-offs
Year one	0
Year two	5
Year three	19
Year four	25
Year five	17
Prior to year five	45
Within the Revolving Period	0
Converted to Term	0
Total	111
Retail | Other retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	811	742
Year two	317	444
Year three	164	397
Year four	153	195
Year five	65	89
Prior to year five	54	72
Within the Revolving Period	3,479	3,463
Converted to Term	7	16
Total	5,050	5,418
Gross charge-offs
Year one	49
Year two	24
Year three	8
Year four	8
Year five	11
Prior to year five	9
Within the Revolving Period	121
Converted to Term	0
Total	230
Greater than 800 | Retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1,449	3,516
Year two	4,351	8,226
Year three	7,913	5,389
Year four	4,939	2,251
Year five	1,913	924
Prior to year five	4,466	4,340
Within the Revolving Period	5,578	5,449
Converted to Term	222	267
Total	30,831	30,362
Greater than 800 | Retail | Residential mortgages
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	889	2,132
Year two	3,067	4,943
Year three	5,172	3,143
Year four	3,117	1,180
Year five	1,131	363
Prior to year five	3,125	3,081
Within the Revolving Period	0	0
Converted to Term	0	0
Total	16,501	14,842
Greater than 800 | Retail | Home equity
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	4
Year two	4	5
Year three	4	2
Year four	1	5
Year five	4	6
Prior to year five	91	110
Within the Revolving Period	5,078	4,958
Converted to Term	222	267
Total	5,404	5,357
Greater than 800 | Retail | Automobile
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	81	650
Year two	539	1,453
Year three	1,062	584
Year four	368	324
Year five	162	120
Prior to year five	47	54
Within the Revolving Period	0	0
Converted to Term	0	0
Total	2,259	3,185
Greater than 800 | Retail | Education
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	296	548
Year two	671	1,720
Year three	1,637	1,567
Year four	1,418	694
Year five	600	410
Prior to year five	1,185	1,068
Within the Revolving Period	0	0
Converted to Term	0	0
Total	5,807	6,007
Greater than 800 | Retail | Other retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	183	182
Year two	70	105
Year three	38	93
Year four	35	48
Year five	16	25
Prior to year five	18	27
Within the Revolving Period	500	491
Converted to Term	0	0
Total	860	971
740-799 | Retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	2,093	4,305
Year two	3,393	6,084
Year three	4,696	3,557
Year four	2,682	1,539
Year five	1,150	695
Prior to year five	2,456	2,422
Within the Revolving Period	5,671	5,324
Converted to Term	242	275
Total	22,383	24,201
740-799 | Retail | Residential mortgages
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1,333	2,376
Year two	1,940	2,991
Year three	2,560	1,660
Year four	1,411	638
Year five	592	257
Prior to year five	1,625	1,635
Within the Revolving Period	0	0
Converted to Term	0	0
Total	9,461	9,557
740-799 | Retail | Home equity
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	2
Year two	1	2
Year three	2	1
Year four	1	4
Year five	3	6
Prior to year five	82	97
Within the Revolving Period	4,708	4,350
Converted to Term	241	274
Total	5,038	4,736
740-799 | Retail | Automobile
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	134	962
Year two	671	1,606
Year three	1,038	649
Year four	375	343
Year five	165	134
Prior to year five	52	56
Within the Revolving Period	0	0
Converted to Term	0	0
Total	2,435	3,750
740-799 | Retail | Education
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	368	735
Year two	694	1,351
Year three	1,050	1,126
Year four	850	486
Year five	369	267
Prior to year five	678	609
Within the Revolving Period	0	0
Converted to Term	0	0
Total	4,009	4,574
740-799 | Retail | Other retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	258	230
Year two	87	134
Year three	46	121
Year four	45	68
Year five	21	31
Prior to year five	19	25
Within the Revolving Period	963	974
Converted to Term	1	1
Total	1,440	1,584
680-739 | Retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	872	2,228
Year two	1,574	2,619
Year three	1,839	1,422
Year four	1,032	790
Year five	541	386
Prior to year five	1,314	1,311
Within the Revolving Period	3,666	3,289
Converted to Term	204	238
Total	11,042	12,283
680-739 | Retail | Residential mortgages
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	367	769
Year two	631	899
Year three	758	502
Year four	466	308
Year five	266	149
Prior to year five	873	851
Within the Revolving Period	0	0
Converted to Term	0	0
Total	3,361	3,478
680-739 | Retail | Home equity
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1	1
Year two	1	1
Year three	1	1
Year four	2	6
Year five	5	11
Prior to year five	93	114
Within the Revolving Period	2,693	2,296
Converted to Term	202	234
Total	2,998	2,664
680-739 | Retail | Automobile
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	147	920
Year two	577	1,187
Year three	708	460
Year four	252	254
Year five	118	102
Prior to year five	39	44
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,841	2,967
680-739 | Retail | Education
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	143	363
Year two	289	423
Year three	333	356
Year four	273	170
Year five	134	103
Prior to year five	298	288
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,470	1,703
680-739 | Retail | Other retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	214	175
Year two	76	109
Year three	39	103
Year four	39	52
Year five	18	21
Prior to year five	11	14
Within the Revolving Period	973	993
Converted to Term	2	4
Total	1,372	1,471
620-679 | Retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	296	841
Year two	565	896
Year three	602	456
Year four	281	336
Year five	232	214
Prior to year five	659	649
Within the Revolving Period	1,137	993
Converted to Term	139	147
Total	3,911	4,532
620-679 | Retail | Residential mortgages
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	54	125
Year two	135	168
Year three	165	135
Year four	90	138
Year five	121	99
Prior to year five	445	422
Within the Revolving Period	0	0
Converted to Term	0	0
Total	1,010	1,087
620-679 | Retail | Home equity
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	0
Year two	1	1
Year three	1	2
Year four	2	9
Year five	8	16
Prior to year five	77	93
Within the Revolving Period	718	558
Converted to Term	137	143
Total	944	822
620-679 | Retail | Automobile
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	94	554
Year two	316	586
Year three	345	205
Year four	112	133
Year five	65	62
Prior to year five	26	28
Within the Revolving Period	0	0
Converted to Term	0	0
Total	958	1,568
620-679 | Retail | Education
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	30	54
Year two	65	76
Year three	68	62
Year four	58	38
Year five	32	29
Prior to year five	107	102
Within the Revolving Period	0	0
Converted to Term	0	0
Total	360	361
620-679 | Retail | Other retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	118	108
Year two	48	65
Year three	23	52
Year four	19	18
Year five	6	8
Prior to year five	4	4
Within the Revolving Period	419	435
Converted to Term	2	4
Total	639	694
Less than 620 | Retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	89	246
Year two	335	423
Year three	439	254
Year four	233	304
Year five	256	236
Prior to year five	730	620
Within the Revolving Period	583	368
Converted to Term	232	178
Total	2,897	2,629
Less than 620 | Retail | Residential mortgages
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	9	17
Year two	48	68
Year three	104	77
Year four	95	165
Year five	161	147
Prior to year five	561	455
Within the Revolving Period	0	0
Converted to Term	0	0
Total	978	929
Less than 620 | Retail | Home equity
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	0
Year two	2	0
Year three	1	2
Year four	1	12
Year five	10	18
Prior to year five	80	82
Within the Revolving Period	332	178
Converted to Term	230	172
Total	656	464
Less than 620 | Retail | Automobile
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	44	188
Year two	232	309
Year three	291	130
Year four	100	106
Year five	66	56
Prior to year five	32	31
Within the Revolving Period	0	0
Converted to Term	0	0
Total	765	820
Less than 620 | Retail | Education
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	5	6
Year two	18	16
Year three	25	20
Year four	23	12
Year five	15	11
Prior to year five	55	50
Within the Revolving Period	0	0
Converted to Term	0	0
Total	141	115
Less than 620 | Retail | Other retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	31	35
Year two	35	30
Year three	18	25
Year four	14	9
Year five	4	4
Prior to year five	2	2
Within the Revolving Period	251	190
Converted to Term	2	6
Total	357	301
No FICO available | Retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	18	22
Year two	1	3
Year three	3	5
Year four	2	3
Year five	3	2
Prior to year five	50	59
Within the Revolving Period	373	380
Converted to Term	0	1
Total	450	475
No FICO available | Retail | Residential mortgages
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	1	2
Year two	0	2
Year three	2	2
Year four	1	3
Year five	3	2
Prior to year five	14	17
Within the Revolving Period	0	0
Converted to Term	0	0
Total	21	28
No FICO available | Retail | Automobile
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	0	2
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	0	2
No FICO available | Retail | Education
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	10	6
Year two	0	0
Year three	1	0
Year four	0	0
Year five	0	0
Prior to year five	36	42
Within the Revolving Period	0	0
Converted to Term	0	0
Total	47	48
No FICO available | Retail | Other retail
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Year one	7	12
Year two	1	1
Year three	0	3
Year four	1	0
Year five	0	0
Prior to year five	0	0
Within the Revolving Period	373	380
Converted to Term	0	1
Total	$ 382	$ 397

CREDIT QUALITY AND THE ALLOWA_6

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Accruing and Non-accruing Past Due Amounts (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 145,959	$ 156,662
Loans and leases, nonaccrual	1,364	944
Loans and leases, nonaccrual with no related ACL	453	456
FHA, VA And USDA Loans
Financing Receivable, Past Due [Line Items]
Loans and leases	1,122	1,196
Loans and leases, nonaccrual	0	0
Loans and leases, nonaccrual with no related ACL	0	0
Financing Receivables, Current
Financing Receivable, Past Due [Line Items]
Loans and leases	143,111	154,527
Financing Receivables, Current | FHA, VA And USDA Loans
Financing Receivable, Past Due [Line Items]
Loans and leases	675	789
Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	818	598
Financing Receivables, 30 to 59 Days Past Due | FHA, VA And USDA Loans
Financing Receivable, Past Due [Line Items]
Loans and leases	128	57
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	333	226
Financing Receivables, 60 to 89 Days Past Due | FHA, VA And USDA Loans
Financing Receivable, Past Due [Line Items]
Loans and leases	76	34
Financing Receivables, 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	333	367
Financing Receivables, 90 Days or More Past Due | FHA, VA And USDA Loans
Financing Receivable, Past Due [Line Items]
Loans and leases	243	316
Commercial
Financing Receivable, Past Due [Line Items]
Loans and leases	74,445	82,180
Loans and leases, nonaccrual	774	352
Loans and leases, nonaccrual with no related ACL	101	71
Commercial | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	43,826	51,836
Loans and leases, nonaccrual	294	249
Loans and leases, nonaccrual with no related ACL	30	64
Commercial | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	29,471	28,865
Loans and leases, nonaccrual	477	103
Loans and leases, nonaccrual with no related ACL	71	7
Commercial | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	1,148	1,479
Loans and leases, nonaccrual	3	0
Loans and leases, nonaccrual with no related ACL	0	0
Commercial | Financing Receivables, Current
Financing Receivable, Past Due [Line Items]
Loans and leases	73,336	81,529
Commercial | Financing Receivables, Current | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	43,447	51,389
Commercial | Financing Receivables, Current | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	28,745	28,665
Commercial | Financing Receivables, Current | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	1,144	1,475
Commercial | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	212	207
Commercial | Financing Receivables, 30 to 59 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	61	152
Commercial | Financing Receivables, 30 to 59 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	150	51
Commercial | Financing Receivables, 30 to 59 Days Past Due | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	1	4
Commercial | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	77	70
Commercial | Financing Receivables, 60 to 89 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	18	25
Commercial | Financing Receivables, 60 to 89 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	59	45
Commercial | Financing Receivables, 60 to 89 Days Past Due | Leases
Financing Receivable, Past Due [Line Items]
Loans and leases	0	0
Commercial | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	46	22
Commercial | Financing Receivables, 90 Days or More Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and leases	6	21
Commercial | Financing Receivables, 90 Days or More Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans and leases	40	1
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	71,514	74,482
Loans and leases, nonaccrual	590	592
Loans and leases, nonaccrual with no related ACL	352	385
Retail | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	31,332	29,921
Loans and leases, nonaccrual	177	234
Loans and leases, nonaccrual with no related ACL	144	187
Retail | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	15,040	14,043
Loans and leases, nonaccrual	285	241
Loans and leases, nonaccrual with no related ACL	198	185
Retail | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	8,258	12,292
Loans and leases, nonaccrual	61	56
Loans and leases, nonaccrual with no related ACL	7	9
Retail | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	11,834	12,808
Loans and leases, nonaccrual	28	33
Loans and leases, nonaccrual with no related ACL	3	3
Retail | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	5,050	5,418
Loans and leases, nonaccrual	39	28
Loans and leases, nonaccrual with no related ACL	0	1
Retail | Financing Receivables, Current
Financing Receivable, Past Due [Line Items]
Loans and leases	69,775	72,998
Retail | Financing Receivables, Current | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	30,499	29,228
Retail | Financing Receivables, Current | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	14,640	13,719
Retail | Financing Receivables, Current | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	8,005	12,039
Retail | Financing Receivables, Current | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	11,732	12,718
Retail | Financing Receivables, Current | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	4,899	5,294
Retail | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	606	391
Retail | Financing Receivables, 30 to 59 Days Past Due | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	282	95
Retail | Financing Receivables, 30 to 59 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	82	64
Retail | Financing Receivables, 30 to 59 Days Past Due | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	144	152
Retail | Financing Receivables, 30 to 59 Days Past Due | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	49	36
Retail | Financing Receivables, 30 to 59 Days Past Due | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	49	44
Retail | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	256	156
Retail | Financing Receivables, 60 to 89 Days Past Due | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	118	45
Retail | Financing Receivables, 60 to 89 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Loans and leases	33	19
Retail | Financing Receivables, 60 to 89 Days Past Due | Automobile
Financing Receivable, Past Due [Line Items]
Loans and leases	48	45
Retail | Financing Receivables, 60 to 89 Days Past Due | Education
Financing Receivable, Past Due [Line Items]
Loans and leases	23	17
Retail | Financing Receivables, 60 to 89 Days Past Due | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	34	30
Retail | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Loans and leases	287	345
Retail | Financing Receivables, 90 Days or More Past Due | Residential mortgages
Financing Receivable, Past Due [Line Items]
Loans and leases	256	319
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	2	4
Retail | Financing Receivables, 90 Days or More Past Due | Other retail
Financing Receivable, Past Due [Line Items]
Loans and leases	$ 29	$ 22

CREDIT QUALITY AND THE ALLOWA_7

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Modified (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 1,093,000,000	$ 1,093,000,000
Total as a % of Loan Class	0.75%
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		724,000,000
Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		20,000,000
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		8,000,000
Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		43,000,000
Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		298,000,000
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 918,000,000	918,000,000
Total as a % of Loan Class	1.23%
Commercial | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		613,000,000
Commercial | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		7,000,000
Commercial | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Commercial | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		26,000,000
Commercial | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		272,000,000
Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 325,000,000	$ 325,000,000
Total as a % of Loan Class	0.74%
Weighted-Average Interest Rate Reduction		2.02%
Weighted-Average Term Extension (in Months)		15 months
Weighted-Average Payment Deferral		$ 562,777
Commercial | Commercial and industrial | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		211,000,000
Commercial | Commercial and industrial | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Commercial | Commercial and industrial | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Commercial | Commercial and industrial | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Commercial | Commercial and industrial | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		114,000,000
Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 593,000,000	$ 593,000,000
Total as a % of Loan Class	2.01%
Weighted-Average Interest Rate Reduction		0.59%
Weighted-Average Term Extension (in Months)		11 months
Weighted-Average Payment Deferral		$ 30,821
Commercial | Commercial real estate | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		402,000,000
Commercial | Commercial real estate | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		7,000,000
Commercial | Commercial real estate | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Commercial | Commercial real estate | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		26,000,000
Commercial | Commercial real estate | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		158,000,000
Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 175,000,000	175,000,000
Total as a % of Loan Class	0.24%
Retail | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		111,000,000
Retail | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		13,000,000
Retail | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		8,000,000
Retail | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		17,000,000
Retail | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		26,000,000
Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 109,000,000	$ 109,000,000
Total as a % of Loan Class	0.35%
Weighted-Average Interest Rate Reduction		1.58%
Weighted-Average Term Extension (in Months)		50 months
Weighted-Average Payment Deferral		$ 0
Retail | Residential mortgages | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		61,000,000
Retail | Residential mortgages | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		11,000,000
Retail | Residential mortgages | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		7,000,000
Retail | Residential mortgages | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		17,000,000
Retail | Residential mortgages | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		13,000,000
Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 15,000,000	$ 15,000,000
Total as a % of Loan Class	0.10%
Weighted-Average Interest Rate Reduction		2.64%
Weighted-Average Term Extension (in Months)		120 months
Weighted-Average Payment Deferral		$ 1,366
Retail | Home equity | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		5,000,000
Retail | Home equity | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Home equity | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Home equity | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Home equity | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		10,000,000
Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 0	$ 0
Total as a % of Loan Class	0%
Weighted-Average Interest Rate Reduction		3.60%
Weighted-Average Term Extension (in Months)		18 months
Weighted-Average Payment Deferral		$ 1,245
Retail | Automobile | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Automobile | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Automobile | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Automobile | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Automobile | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 40,000,000	$ 40,000,000
Total as a % of Loan Class	0.34%
Weighted-Average Interest Rate Reduction		4.76%
Weighted-Average Payment Deferral		$ 6,134
Retail | Education | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		37,000,000
Retail | Education | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		1,000,000
Retail | Education | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Education | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Education | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		2,000,000
Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 11,000,000	$ 11,000,000
Total as a % of Loan Class	0.22%
Weighted-Average Interest Rate Reduction		18.68%
Weighted-Average Payment Deferral		$ 0
Retail | Other retail | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		8,000,000
Retail | Other retail | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		1,000,000
Retail | Other retail | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		1,000,000
Retail | Other retail | Financing Receivables, 90 Days or More Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		0
Retail | Other retail | Nonaccrual
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis		1,000,000
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 31,000,000
Interest Rate Reduction | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	1,000,000
Interest Rate Reduction | Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	1,000,000
Interest Rate Reduction | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Interest Rate Reduction | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	30,000,000
Interest Rate Reduction | Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	8,000,000
Interest Rate Reduction | Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	2,000,000
Interest Rate Reduction | Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Interest Rate Reduction | Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	9,000,000
Interest Rate Reduction | Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	11,000,000
Maturity Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	856,000,000
Maturity Extension | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	774,000,000
Maturity Extension | Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	252,000,000
Maturity Extension | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	522,000,000
Maturity Extension | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	82,000,000
Maturity Extension | Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	77,000,000
Maturity Extension | Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	5,000,000
Maturity Extension | Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Maturity Extension | Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Maturity Extension | Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Payment Delay
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	103,000,000
Payment Delay | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	69,000,000
Payment Delay | Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	69,000,000
Payment Delay | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Payment Delay | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	34,000,000
Payment Delay | Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	3,000,000
Payment Delay | Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Payment Delay | Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Payment Delay | Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	31,000,000
Payment Delay | Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Principal Forgiveness | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Principal Forgiveness | Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Amount of Principal Forgiven		0
Principal Forgiveness | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Amount of Principal Forgiven		0
Principal Forgiveness | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Principal Forgiveness | Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Amount of Principal Forgiven		0
Principal Forgiveness | Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Amount of Principal Forgiven		0
Principal Forgiveness | Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Amount of Principal Forgiven		0
Principal Forgiveness | Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Amount of Principal Forgiven		0
Principal Forgiveness | Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Amount of Principal Forgiven		$ 5,000,000
Interest Rate Reduction and Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	99,000,000
Interest Rate Reduction and Term Extension | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	71,000,000
Interest Rate Reduction and Term Extension | Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	1,000,000
Interest Rate Reduction and Term Extension | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	70,000,000
Interest Rate Reduction and Term Extension | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	28,000,000
Interest Rate Reduction and Term Extension | Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	20,000,000
Interest Rate Reduction and Term Extension | Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	8,000,000
Interest Rate Reduction and Term Extension | Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Interest Rate Reduction and Term Extension | Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Interest Rate Reduction and Term Extension | Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Term Extension and Payment Delay
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	4,000,000
Term Extension and Payment Delay | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	3,000,000
Term Extension and Payment Delay | Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	2,000,000
Term Extension and Payment Delay | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	1,000,000
Term Extension and Payment Delay | Retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	1,000,000
Term Extension and Payment Delay | Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	1,000,000
Term Extension and Payment Delay | Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Term Extension and Payment Delay | Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Term Extension and Payment Delay | Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	0
Term Extension and Payment Delay | Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized cost basis	$ 0

CREDIT QUALITY AND THE ALLOWA_8

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Troubled Debt Restructurings, Modified Default (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	$ 164	$ 242
Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	1
Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	112
Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	44
Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	7
Commercial
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	145
Commercial | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Commercial | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	102
Commercial | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	43
Commercial | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Commercial | Commercial and industrial
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	43	0
Commercial | Commercial and industrial | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Commercial | Commercial and industrial | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Commercial | Commercial and industrial | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	43
Commercial | Commercial and industrial | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Commercial | Commercial real estate
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	102
Commercial | Commercial real estate | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Commercial | Commercial real estate | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	102
Commercial | Commercial real estate | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Commercial | Commercial real estate | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	19
Retail | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	1
Retail | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	10
Retail | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	1
Retail | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	7
Retail | Residential mortgages
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	15	$ 242
Retail | Residential mortgages | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	1
Retail | Residential mortgages | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	9
Retail | Residential mortgages | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Residential mortgages | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	5
Retail | Home equity
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	3
Retail | Home equity | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Home equity | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	1
Retail | Home equity | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Home equity | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	2
Retail | Automobile
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Automobile | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Automobile | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Automobile | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Automobile | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Education
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	1
Retail | Education | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Education | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Education | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	1
Retail | Education | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Other retail
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Other retail | Interest Rate Reduction
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Other retail | Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Other retail | Payment Delay
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	0
Retail | Other retail | Interest Rate Reduction and Term Extension
Financing Receivable, Modified, Subsequent Default [Line Items]
Amortized cost basis of modified loans that are in subsequent default	$ 0

CREDIT QUALITY AND THE ALLOWA_9

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Troubled Debt Restructuring Activity (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	5,846
Amortized Cost	$ 501
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	68
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	124
Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 309
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	29
Amortized Cost	$ 26
Commercial | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0
Commercial | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	26
Commercial | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 0
Commercial | Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	29
Amortized Cost	$ 26
Commercial | Commercial and industrial | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0
Commercial | Commercial and industrial | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	26
Commercial | Commercial and industrial | 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
Amortized Cost	$ 475
Retail | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	68
Retail | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	98
Retail | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 309
Retail | Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	1,884
Amortized Cost	$ 408
Retail | Residential mortgages | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	52
Retail | Residential mortgages | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	96
Retail | Residential mortgages | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 260
Retail | Home equity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	381
Amortized Cost	$ 25
Retail | Home equity | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	4
Retail | Home equity | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	2
Retail | Home equity | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 19
Retail | Automobile
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	601
Amortized Cost	$ 6
Retail | Automobile | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	2
Retail | Automobile | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0
Retail | Automobile | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 4
Retail | Education
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	631
Amortized Cost	$ 25
Retail | Education | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0
Retail | Education | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0
Retail | Education | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 25
Retail | Other retail
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	2,320
Amortized Cost	$ 11
Retail | Other retail | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	10
Retail | Other retail | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	0
Retail | Other retail | Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost	$ 1

CREDIT QUALITY AND THE ALLOW_10

CREDIT QUALITY AND THE ALLOWANCE FOR CREDIT LOSSES - Troubled Debt Restructurings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	$ 164	$ 242
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	145
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	43	0
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	19
Retail | Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR's that defaulted within 12 months of modification date	$ 15	242
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

PREMISES, EQUIPMENT, AND SOFT_3

PREMISES, EQUIPMENT, AND SOFTWARE - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Capital Leases of Lessee [Abstract]
Depreciation expense	$ 115	$ 107	$ 98
Capitalized Software
Capitalized software, gross	2,600	2,600
Capitalized software, accumulated amortization	1,700	1,700
Amortization of software	$ 254	$ 243	$ 235

PREMISES, EQUIPMENT, AND SOFT_4

PREMISES, EQUIPMENT, AND SOFTWARE - Schedule of Premises and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 1,708	$ 1,706
Accumulated depreciation and amortization	(813)	(862)
Total premises and equipment, net	895	844
Land and land improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 143	144
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	$ 875	879
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	$ 613	622
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	$ 77	$ 61

PREMISES, EQUIPMENT, AND SOFT_5

PREMISES, EQUIPMENT, AND SOFTWARE - Schedule of Amortization (Details) $ in Millions	Dec. 31, 2023 USD ($)
Capitalized Software, Expected Future Amortization Expense [Abstract]
2024	$ 237
2025	199
2026	136
2027	79
2028	23
Thereafter	0
Total	674
In-process software	$ 215

MORTGAGE BANKING AND OTHER SE_3

MORTGAGE BANKING AND OTHER SERVICED LOANS - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2023	Dec. 31, 2022
Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
MSR loans	$ 97.4	$ 96.7

MORTGAGE BANKING AND OTHER SE_4

MORTGAGE BANKING AND OTHER SERVICED LOANS - Residential Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Residential mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash proceeds from residential mortgage loans sold with servicing retained	$ 9,124	$ 17,025	$ 37,039
Repurchased residential mortgages	0	87	1,381
Mortgage Banking Fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales	72	86	382
Contractually specified servicing, late and other ancillary fees	$ 309	$ 287	$ 247

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, 2023	Dec. 31, 2022
MSRs
Fair value as of beginning of period	$ 1,530
Fair value at end of the period	1,552	$ 1,530
Residential mortgages
MSRs
Fair value as of beginning of period	1,530	1,029
Amounts capitalized	127	279
Servicing rights acquired	0	16
Changes in unpaid principal balance during the period	(166)	(137)
Changes in fair value during the period	61	343
Fair value at end of the period	$ 1,552	$ 1,530

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, 2023	Dec. 31, 2022
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract]
Fair value	$ 1,552	$ 1,530
Weighted-average life (in years)	8 years 9 months 18 days	9 years 1 month 6 days
Weighted-average constant prepayment rate	7.20%	6.80%
Weighted average option adjusted spread	6.30%	6.29%
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 from 10% adverse change	$ 37	$ 34
Decline in fair value from 10% adverse change	$ 43	43
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 from 20% adverse change	$ 71	66
Decline in fair value from 20% adverse change	$ 87	$ 86

MORTGAGE BANKING AND OTHER SE_7

MORTGAGE BANKING AND OTHER SERVICED LOANS - Other Serviced Loans (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Education
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other serviced loans	$ 502	$ 602
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other serviced loans	$ 94	$ 91

MORTGAGE BANKING AND OTHER SE_8

MORTGAGE BANKING AND OTHER SERVICED LOANS - Changes Related to MSRs - Amortization Method (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Education
Servicing Asset at Amortized Cost [Line Items]
Other serviced loans	$ 502	$ 602
Commercial and Industrial
Servicing Asset at Amortized Cost [Line Items]
Other serviced loans	$ 94	$ 91

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 885	$ 1,019
Lessor operating lease assets	$ 254	$ 260
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 221	$ 216	$ 161
Short-term lease cost	2	2	1
Variable lease cost	5	7	8
Sublease income	(1)	(1)	(4)
Total	$ 227	$ 224	$ 166

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 885	$ 1,019
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating lease liabilities	$ 977	$ 1,066
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	3.10%	2.74%

LEASES - Supplemental Lease Inf

LEASES - Supplemental Lease Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases	$ 232	$ 219	$ 163
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	$ 64	$ 408	$ 79

LEASES - Liability Maturity Sch

LEASES - Liability Maturity Schedule (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 210
2025	201
2026	161
2027	140
2028	111
Thereafter	262
Total lease payments	1,085
Less: Interest	108
Present value of lease liabilities	$ 977	$ 1,066

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) reportingUnit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Number of reporting units | reportingUnit	2
Goodwill impairment	$ 0	$ 0	$ 0
Amortization of intangible assets	42,000,000	41,000,000	$ 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]
Excess of fair value over carrying value	10%
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, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 8,173	$ 7,116
Business acquisitions	15	1,057
Ending balance	8,188	8,173
Consumer Banking
Goodwill [Roll Forward]
Beginning balance	2,673	2,258
Business acquisitions	5	415
Ending balance	2,678	2,673
Commercial Banking
Goodwill [Roll Forward]
Beginning balance	5,500	4,858
Business acquisitions	10	642
Ending balance	$ 5,510	$ 5,500

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Other Intangibles (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross	$ 270	$ 271
Accumulated Amortization	113	74
Net	$ 157	197
Core deposits
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	10 years
Gross	$ 144	144
Accumulated Amortization	44	20
Net	100	124
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Gross	23	23
Accumulated Amortization	21	19
Net	2	4
Acquired relationships
Finite-Lived Intangible Assets [Line Items]
Gross	52	54
Accumulated Amortization	26	21
Net	26	33
Naming Rights
Finite-Lived Intangible Assets [Line Items]
Gross	33	33
Accumulated Amortization	12	7
Net	21	26
Other
Finite-Lived Intangible Assets [Line Items]
Gross	18	17
Accumulated Amortization	10	7
Net	$ 8	$ 10
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	8 years

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Intangible Asset Amortization (Details) $ in Millions	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2024	$ 35
2025	32
2026	28
2027	24
2028	$ 17

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Consolidated Variable Interest Entities (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
ASSETS:
Cash and due from banks	[1]	$ 1,794	$ 1,489
Interest-bearing deposits in banks	[1]	405	303
Net loans and leases	[1]	143,861	154,679
Other assets	[1]	13,359	13,089
TOTAL ASSETS		221,964	226,733
LIABILITIES:
Long-term borrowed funds	[1]	13,467	15,887
Other liabilities	[1]	4,746	4,520
TOTAL LIABILITIES		197,622	$ 203,043
Variable Interest Entity, Primary Beneficiary
ASSETS:
Cash and due from banks		13
Interest-bearing deposits in banks		106
Net loans and leases		3,194
Other assets		14
TOTAL ASSETS		3,327
LIABILITIES:
Long-term borrowed funds		2,692
Other liabilities		8
TOTAL LIABILITIES		$ 2,700
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.

VARIABLE INTEREST ENTITIES - _2

VARIABLE INTEREST ENTITIES - Schedule of Variable Interest Entities (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Lending to special purpose entities included in loans and leases	[1]	$ 143,861	$ 154,679
Other assets	[1]	13,359	13,089
LIHTC unfunded commitments included in other liabilities	[1]	4,746	4,520
Asset-backed investments included in HTM securities	[2]	9,184	9,834
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Lending to special purpose entities included in loans and leases		4,760	4,578
LIHTC unfunded commitments included in other liabilities		1,025	1,046
Asset-backed investments included in HTM securities		488	581
Variable Interest Entity, Not Primary Beneficiary | Low Income Housing Tax Credit Partnerships
Variable Interest Entity [Line Items]
Other assets		2,444	2,230
Variable Interest Entity, Not Primary Beneficiary | Renewable Energy Investments
Variable Interest Entity [Line Items]
Other assets		314	374
Variable Interest Entity, Not Primary Beneficiary | New Market Tax Credit Investments
Variable Interest Entity [Line Items]
Other assets		$ 3	$ 4
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.[2]Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Commitments to extend credit | Variable Interest Entity, Not Primary Beneficiary | Special Purpose Entities
Variable Interest Entity [Line Items]
Undrawn commitments to extend credit	$ 2,700	$ 2,400
Renewable Energy Wind Investments | Renewable Energy Entities
Variable Interest Entity [Line Items]
Undrawn commitments to extend credit	$ 67

VARIABLE INTEREST ENTITIES - _3

VARIABLE INTEREST ENTITIES - Schedule of Affordable Housing Tax Credit Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Income tax expense	$ (422)	$ (582)	$ (658)
Noninterest income	1,983	2,009	2,135
Net income	1,608	2,073	2,319
Variable Interest Entity, Not Primary Beneficiary | Net Income (Loss) Attributable To Parent, Net Benefit
Variable Interest Entity [Line Items]
Net income	80	48	42
Variable Interest Entity, Not Primary Beneficiary | Net benefit (expense) included in income tax expense
Variable Interest Entity [Line Items]
Income tax expense	85	48	42
Variable Interest Entity, Not Primary Beneficiary | Tax credits recognized
Variable Interest Entity [Line Items]
Income tax expense	334	236	202
Variable Interest Entity, Not Primary Beneficiary | Other tax benefits recognized
Variable Interest Entity [Line Items]
Income tax expense	71	59	48
Variable Interest Entity, Not Primary Beneficiary | Amortization
Variable Interest Entity [Line Items]
Income tax expense	(320)	(247)	(208)
Variable Interest Entity, Not Primary Beneficiary | Net benefit (expense) included in noninterest income
Variable Interest Entity [Line Items]
Noninterest income	(5)	0	0
Variable Interest Entity, Not Primary Beneficiary | Other income
Variable Interest Entity [Line Items]
Noninterest income	5	0	0
Variable Interest Entity, Not Primary Beneficiary | Allocated income (loss) on investments
Variable Interest Entity [Line Items]
Noninterest income	$ (10)	$ 0	$ 0

DEPOSITS - Major Components of

DEPOSITS - Major Components of Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deposits, by Type [Abstract]
Demand	$ 37,107	$ 49,283
Money market	53,812	49,905
Checking with interest	31,876	39,721
Savings	27,983	29,805
Term	26,564	12,010
Total deposits	$ 177,342	$ 180,724

DEPOSITS - Maturities of Term D

DEPOSITS - Maturities of Term Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Time Deposits, Fiscal Year Maturity [Abstract]
2024	$ 25,529
2025	866
2026	74
2027	59
2028	33
2028 and thereafter	3
Total	$ 26,564	$ 12,010

DEPOSITS - Maturities of Term_2

DEPOSITS - Maturities of Term Deposits Greater than $100,000 (Details) $ in Millions	Dec. 31, 2023 USD ($)
Contractual Maturities, Time Deposits, $100,000 or More [Abstract]
Three months or less	$ 2,559
After three months through six months	1,527
After six months through twelve months	1,358
After twelve months	229
Total term deposits	$ 5,673

BORROWED FUNDS - Short Term Deb

BORROWED FUNDS - Short Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Short-term borrowed funds	$ 505	$ 3
Other short-term borrowed funds
Short-term Debt [Line Items]
Short-term borrowed funds	$ 505	$ 3

BORROWED FUNDS - Long Term Debt

BORROWED FUNDS - Long Term Debt (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term borrowed funds	[1]	$ 13,467	$ 15,887
Parent company
Debt Instrument [Line Items]
Long-term borrowed funds		$ 3,344
Parent company | Subordinated Debt | 3.750% fixed-rate subordinated debt, due July 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 October 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 August 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 December 2025
Debt Instrument [Line Items]
Interest rate		4.30%
Long-term borrowed funds		$ 336	336
Parent company | Subordinated Debt | 3.750% fixed-rate reset 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 reset 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 reset subordinated debt, due February 2031
Debt Instrument [Line Items]
Interest rate		4.35%
Long-term borrowed funds		$ 60	61
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		$ 563	556
Parent company | Subordinated Debt | 5.641% fixed-rate reset subordinated debt, due May 2037
Debt Instrument [Line Items]
Interest rate		5.641%
Long-term borrowed funds		$ 398	397
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		$ 499	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	746
CBNA and Other Subsidiaries
Debt Instrument [Line Items]
Long-term borrowed funds		$ 10,123
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		$ 0	497
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		$ 0	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		$ 749	748
CBNA and Other Subsidiaries | Senior Unsecured Notes | 4.119% fixed/floating-rate senior unsecured notes, due May 2025
Debt Instrument [Line Items]
Interest rate		4.119%
Long-term borrowed funds		$ 649	648
CBNA and Other Subsidiaries | Senior Unsecured Notes | 6.064% fixed/floating-rate senior unsecured notes, due October 2025
Debt Instrument [Line Items]
Interest rate		6.064%
Long-term borrowed funds		$ 599	598
CBNA and Other Subsidiaries | Senior Unsecured Notes | 5.284% fixed/floating-rate senior unsecured notes, due January 2026
Debt Instrument [Line Items]
Interest rate		5.284%
Long-term borrowed funds		$ 349	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		$ 483	475
CBNA and Other Subsidiaries | Senior Unsecured Notes | 4.575% fixed/floating-rate senior unsecured notes, due August 2028
Debt Instrument [Line Items]
Interest rate		4.575%
Long-term borrowed funds		$ 798	797
CBNA and Other Subsidiaries | Federal Home Loan advances
Debt Instrument [Line Items]
Weighted average interest rate		5.57%
Long-term borrowed funds		$ 3,786	8,519
CBNA and Other Subsidiaries | Secured Debt
Debt Instrument [Line Items]
Long-term borrowed funds		$ 2,692	0
Debt, Weighted Average Interest Rate		6.026%
CBNA and Other Subsidiaries | Other
Debt Instrument [Line Items]
Long-term borrowed funds		$ 18	$ 19
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.

BORROWED FUNDS - Narrative (Det

BORROWED FUNDS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal balance	$ 13,600	$ 16,000
Unamortized deferred issuance costs and or discounts	74	85
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	(17)	(27)
Short-term borrowed funds	505	3
Available borrowing capacity	69,000
FHLB advances and letters of credit | Secured Debt
Debt Instrument [Line Items]
Short-term borrowed funds	9,200	15,700
Pledged as collateral for FHLB borrowing capacity
Debt Instrument [Line Items]
Available borrowing capacity	$ 15,900	$ 11,500

BORROWED FUNDS - Maturities of

BORROWED FUNDS - Maturities of Long-term Borrowed Funds (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
2024		$ 470
2025		6,240
2026		2,518
2027		5
2028		1,745
2028 and thereafter		2,489
Total	[1]	13,467	$ 15,887
Parent Company
Debt Instrument [Line Items]
2024		107
2025		469
2026		499
2027		0
2028		0
2028 and thereafter		2,269
Total		3,344
CBNA and Other Subsidiaries
Debt Instrument [Line Items]
2024		363
2025		5,771
2026		2,019
2027		5
2028		1,745
2028 and thereafter		220
Total		$ 10,123
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.

DERIVATIVES - Schedule of Deriv

DERIVATIVES - Schedule of Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Notional amount	$ 309,553	$ 250,495
Derivative Assets
Total derivative assets	1,593	1,839
Less: Gross amounts offset in the Consolidated Balance Sheets	(471)	(623)
Less: Cash collateral applied	(682)	(374)
Total net derivatives presented in the Consolidated Balance Sheets	440	842
Derivative Liabilities
Derivative Liabilities	2,183	3,111
Less: Gross amounts offset in the Consolidated Balance Sheets	(471)	(623)
Less: Cash collateral applied	(150)	(579)
Total net derivatives presented in the Consolidated Balance Sheets	1,562	1,909
Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	222,658	208,245
Derivative Assets
Total derivative assets	1,420	1,823
Derivative Liabilities
Derivative Liabilities	2,139	3,058
Interest rate contracts
Derivative Assets
Total derivative assets	464	347
Derivative Liabilities
Derivative Liabilities	1,149	1,632
Interest rate contracts | Derivatives designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	86,895	42,250
Derivative Assets
Total derivative assets	173	16
Derivative Liabilities
Derivative Liabilities	44	53
Interest rate contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	185,993	174,384
Derivative Assets
Total derivative assets	291	331
Derivative Liabilities
Derivative Liabilities	1,105	1,579
Foreign exchange contracts
Derivative Assets
Total derivative assets	434	527
Derivative Liabilities
Derivative Liabilities	378	519
Foreign exchange contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	32,528	29,475
Derivative Assets
Total derivative assets	434	527
Derivative Liabilities
Derivative Liabilities	378	519
Commodities contracts
Derivative Assets
Total derivative assets	685	953
Derivative Liabilities
Derivative Liabilities	640	942
Commodities contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	1,251	1,103
Derivative Assets
Total derivative assets	685	953
Derivative Liabilities
Derivative Liabilities	640	942
TBA contracts
Derivative Assets
Total derivative assets	3	7
Derivative Liabilities
Derivative Liabilities	16	14
TBA contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	2,337	2,370
Derivative Assets
Total derivative assets	3	7
Derivative Liabilities
Derivative Liabilities	16	14
Other contracts
Derivative Assets
Total derivative assets	7	5
Derivative Liabilities
Derivative Liabilities	0	4
Other contracts | Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Notional amount	549	913
Derivative Assets
Total derivative assets	7	5
Derivative Liabilities
Derivative Liabilities	$ 0	$ 4

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Derivative [Line Items]
Net loss (pre-tax) on derivatives expected to be reclassified in next 12 months	$ 914
Terminated Swap
Derivative [Line Items]
Net loss (pre-tax) on derivatives expected to be reclassified in next 12 months	$ 460

DERIVATIVES - Schedule of Fair

DERIVATIVES - Schedule of Fair Value Hedges (Details) - Hedge of interest rate risk - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest expense - long-term borrowed funds
Derivative Instruments, Gain (Loss) [Line Items]
Derivative	$ 10	$ (69)	$ (72)
Hedged Item	(10)	68	71
Interest and fees on other loans held for sale
Derivative Instruments, Gain (Loss) [Line Items]
Derivative	0	13	0
Hedged Item	0	(13)	0
Interest income - investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative	(48)	29	68
Hedged Item	$ 50	$ (29)	$ (68)

DERIVATIVES - Amounts Recorded

DERIVATIVES - Amounts Recorded in Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	$ (17)	$ (27)
Debt Securities
Derivative [Line Items]
Carrying amount of hedged assets	7,253	0
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	60	0
Debt Securities | Closed Portfolios
Derivative [Line Items]
Carrying amount of hedged assets	5,900
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	39
Amount of hedged item	4,000
Long-term borrowed funds
Derivative [Line Items]
Carrying amount of hedged liabilities	483	972
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	$ (17)	$ (27)

DERIVATIVES - Effect of Derivat

DERIVATIVES - Effect of Derivative Instruments on Net Income and Stockholders' Equity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax net gains (losses) recognized in OCI	$ (145)	$ (1,806)	$ (66)
Interest Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax net losses reclassified from AOCI	(596)	(111)	183
Interest expense - long-term borrowed funds
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax net losses reclassified from AOCI	$ 0	$ (4)	$ (48)

DERIVATIVES - Effect of Custome

DERIVATIVES - Effect of Customer Derivatives and Economic Hedges on Net Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	$ 153	$ 112	$ (72)
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	$ (505)	$ (2,027)	$ (374)
Economic hedges | Derivatives hedging interest rate risk
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	551	2,090	401
Economic hedges | Customer foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	94	(180)	(207)
Economic hedges | Derivatives hedging foreign exchange risk
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	14	313	305
Economic hedges | Customer commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	(900)	1,121	779
Economic hedges | Derivatives hedging commodity price risk
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	941	(1,097)	(770)
Economic hedges | Residential loan commitments
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	(34)	(284)	(208)
Economic hedges | Derivatives hedging residential loan commitments and mortgage LHFS, at fair value
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	25	489	152
Economic hedges | Derivative contracts used to hedge residential MSRs
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Recognized in Noninterest Income	$ (33)	$ (313)	$ (150)

EMPLOYEE BENEFITS - Narrative (

EMPLOYEE BENEFITS - Narrative (Details) - USD ($)		12 Months Ended
	Jan. 01, 2015	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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		$ 446,000,000	$ 504,000,000
Employer matching contribution, percent of employees' pay	4%
Employer matching contribution, period of service completion		1 year
Employer matching contribution, addition		1.50%
Employer contribution amount		$ 78,000,000	$ 86,000,000	$ 63,000,000
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		$ 10,000,000

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, 2023	Dec. 31, 2022
Qualified Plans
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets as of January 1	$ 1,182	$ 1,390
Return on plan assets	169	(262)
Employer contributions	0	0
Benefits and administrative expenses paid	(70)	(76)
Fair value of plan assets from Investors acquisition	0	130
Fair value of plan assets as of December 31	1,281	1,182
Projected benefit obligation	880	868
Pension asset (obligation)	401	314
Accumulated benefit obligation	880	868
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
Return on plan assets	0	0
Employer contributions	5	8
Benefits and administrative expenses paid	(5)	(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	99	94
Pension asset (obligation)	(99)	(94)
Accumulated benefit obligation	$ 99	$ 94

EMPLOYEE BENEFITS - Schedule of

EMPLOYEE BENEFITS - Schedule of Net Periodic (Income) Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 3	$ 3
Interest cost	51	37	34
Expected return on plan assets	(92)	(93)	(85)
Amortization of actuarial loss	17	14	17
Settlement	0	0	15
Net periodic pension cost (income)	(20)	(39)	(16)
Net actuarial loss (gain)	(43)	52	(74)
Amortization of actuarial loss	(17)	(14)	(17)
Settlement	0	0	(15)
Total recognized in OCI	(60)	38	(106)
Total recognized in net periodic benefit cost (income) and OCI	(80)	$ (1)	$ (122)
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	4	$ 3	$ 3
Interest cost	46	34	31
Expected return on plan assets	(92)	(93)	(85)
Amortization of actuarial loss	15	11	14
Settlement	0	0	15
Net periodic pension cost (income)	(27)	(45)	(22)
Net actuarial loss (gain)	(44)	71	(73)
Amortization of actuarial loss	(15)	(11)	(14)
Settlement	0	0	(15)
Total recognized in OCI	(59)	60	(102)
Total recognized in net periodic benefit cost (income) and OCI	(86)	15	(124)
Non-Qualified Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0
Interest cost	5	3	3
Expected return on plan assets	0	0	0
Amortization of actuarial loss	2	3	3
Settlement	0	0	0
Net periodic pension cost (income)	7	6	6
Net actuarial loss (gain)	1	(19)	(1)
Amortization of actuarial loss	(2)	(3)	(3)
Settlement	0	0	0
Total recognized in OCI	(1)	(22)	(4)
Total recognized in net periodic benefit cost (income) and OCI	$ 6	$ (16)	$ 2

EMPLOYEE BENEFITS - Expected Fu

EMPLOYEE BENEFITS - Expected Future Benefit Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Expected benefit payments by fiscal year ended
December 31, 2024	$ 73
December 31, 2025	74
December 31, 2026	75
December 31, 2027	75
December 31, 2028	75
December 31, 2029 - 2033	$ 366

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 23,690	$ 23,420	$ 22,673
Total other comprehensive income (loss), net of income taxes	802	(3,895)	(605)
Ending balance	24,342	23,690	23,420
Total AOCI
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(4,560)	(665)	(60)
Other comprehensive income (loss) before reclassifications	272	(3,985)	(577)
Amounts reclassified to the Consolidated Statements of Operations	530	90	(28)
Total other comprehensive income (loss), net of income taxes	802	(3,895)	(605)
Ending balance	(3,758)	(4,560)	(665)
Net Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,416)	(161)	(11)
Other comprehensive income (loss) before reclassifications	(106)	(1,340)	(49)
Amounts reclassified to the Consolidated Statements of Operations	435	85	(101)
Total other comprehensive income (loss), net of income taxes	329	(1,255)	(150)
Ending balance	(1,087)	(1,416)	(161)
Net Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(2,771)	(156)	380
Other comprehensive income (loss) before reclassifications	350	(2,608)	(528)
Amounts reclassified to the Consolidated Statements of Operations	83	(7)	(8)
Total other comprehensive income (loss), net of income taxes	433	(2,615)	(536)
Ending balance	(2,338)	(2,771)	(156)
Employee Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(373)	(348)	(429)
Other comprehensive income (loss) before reclassifications	28	(37)	0
Amounts reclassified to the Consolidated Statements of Operations	12	12	81
Total other comprehensive income (loss), net of income taxes	40	(25)	81
Ending balance	$ (333)	$ (373)	$ (348)

STOCKHOLDERS' EQUITY - Preferre

STOCKHOLDERS' EQUITY - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
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
	Jul. 01, 2023	Dec. 31, 2023	Dec. 31, 2022
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%
Series B through D
Class of Stock [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.26161%
SOFR | Series B
Class of Stock [Line Items]
Preferred stock, dividend payment rate		3.265%
SOFR | Series C
Class of Stock [Line Items]
Preferred stock, dividend payment rate		3.419%
SOFR | Series D
Class of Stock [Line Items]
Preferred stock, dividend payment rate		3.904%
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Dividends declared per share of common stock (in usd per share)	$ 1.68	$ 1.62	$ 1.56
Common stock dividends declared and paid	$ 808	$ 779	$ 670
Preferred stock dividends declared and paid	117	113	113
Dividends Declared
Class of Stock [Line Items]
Common stock dividends declared and paid	808	779	670
Preferred stock dividends declared and paid	117	113	113
Dividends Paid
Class of Stock [Line Items]
Common stock dividends declared and paid	808	779	670
Preferred stock dividends declared and paid	$ 120	$ 113	$ 113
Series A
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 0	$ 0	$ 20.99
Series A | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 0	$ 0	$ 5
Series A | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 0	$ 0	$ 8
Series B
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 74.49	$ 60	$ 60
Series B | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 22	$ 18	$ 18
Series B | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 25	$ 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	$ 19	$ 18
Series D | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 19	$ 19	$ 18
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	$ 22	$ 23
Series E | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 22	$ 22	$ 23
Series F
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 56.50	$ 56.50	$ 56.50
Series F | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 23	$ 23	$ 23
Series F | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 23	$ 23	$ 23
Series G
Class of Stock [Line Items]
Dividends declared per share of preferred stock (in usd per share)	$ 40	$ 40	$ 22.78
Series G | Dividends Declared
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 12	$ 12	$ 7
Series G | Dividends Paid
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 12	$ 12	$ 4

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Cost of stock repurchase	$ 906	$ 153	$ 295
Treasury stock purchased (in shares)	28,473,805	3,815,922

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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	87,000,000	$ 84,000,000	$ 59,000,000
Share-based compensation not yet recognized	$ 76,000,000
Unrecognized compensation expense, weighted-average period of recognition	2 years
Tax benefit recognized in earnings for share-based compensation arrangements	$ 16,000,000	$ 19,000,000	$ 12,000,000
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)	40,750,357
2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	2,991,009

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Activity (Details) - Citizens Share Awards - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares Underlying Awards
Nonvested, Beginning of period (in shares)	3,876,601	3,502,956	3,496,231
Assumed (in shares)	0	0	82,013
Granted (in shares)	2,575,234	1,844,352	1,417,370
Vested and Distributed (in shares)	(1,729,136)	(1,359,543)	(1,400,722)
Forfeited (in shares)	(149,042)	(111,164)	(91,936)
Nonvested, End of period (in shares)	4,573,657	3,876,601	3,502,956
Weighted Average Grant Price
Nonvested, Beginning of period (in dollars per share)	$ 43.06	$ 38.23	$ 34.37
Assumed (in dollars per share)	0	0	49.95
Granted (in dollars per share)	39.88	48.12	44.97
Vested and Distributed (in dollars per share)	40.84	37.47	38.88
Forfeited (in dollars per share)	42.92	43.36	35
Nonvested, End of period (in dollars per share)	$ 42.23	$ 43.06	$ 38.23

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2023	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	10 years
Marketing rights
Marketing Rights [Abstract]
Commitment period		25 years
Financial standby letters of credit
Letters of Credit [Abstract]
Letters of credit terms	2 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, 2023	Dec. 31, 2022
Other Commitments [Line Items]
Commitment amount	$ 96,295	$ 98,314
Commitments to extend credit
Other Commitments [Line Items]
Commitment amount	94,201	96,076
Letters of credit
Other Commitments [Line Items]
Commitment amount	1,977	2,119
Loans sold with recourse
Other Commitments [Line Items]
Commitment amount	96	92
Marketing rights
Other Commitments [Line Items]
Commitment amount	18	23
Risk participation agreements
Other Commitments [Line Items]
Commitment amount	$ 3	$ 4

FAIR VALUE MEASUREMENTS - Resid

FAIR VALUE MEASUREMENTS - Residential and Commercial Mortgage Loans Held For Sale (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	$ 676	$ 774
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	676	774
Level 2 | Residential mortgage LHFS, at fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	614	666
Aggregate Unpaid Principal	593	656
Aggregate Fair Value Less Aggregate Unpaid Principal	21	10
Level 2 | Commercial and industrial, and commercial real estate LHFS, at fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate Fair Value	62	108
Aggregate Unpaid Principal	69	127
Aggregate Fair Value Less Aggregate Unpaid Principal	$ (7)	$ (19)

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Assets
Fair Value	[1]	$ 29,777	$ 24,007
Loans held for sale, at fair value:		676	774
Mortgage servicing rights		1,552	1,530
Total derivative assets		1,593	1,839
Equity securities, at fair value		115	110
Total assets		33,713	28,260
Liabilities
Total derivative liabilities		2,183	3,111
Total liabilities		2,183	3,111
Equity securities, at fair value		173	153
Interest rate contracts
Assets
Total derivative assets		464	347
Liabilities
Total derivative liabilities		1,149	1,632
Foreign exchange contracts
Assets
Total derivative assets		434	527
Liabilities
Total derivative liabilities		378	519
Commodities contracts
Assets
Total derivative assets		685	953
Liabilities
Total derivative liabilities		640	942
TBA contracts
Assets
Total derivative assets		3	7
Liabilities
Total derivative liabilities		16	14
Other contracts
Assets
Total derivative assets		7	5
Liabilities
Total derivative liabilities		0	4
Level 1
Assets
Fair Value		4,380	3,486
Loans held for sale, at fair value:		0	0
Total derivative assets		0	0
Equity securities, at fair value		115	110
Total assets		4,495	3,596
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
Fair Value		25,397	20,521
Loans held for sale, at fair value:		676	774
Total derivative assets		1,586	1,834
Equity securities, at fair value		0	0
Total assets		27,659	23,129
Liabilities
Total derivative liabilities		2,183	3,107
Total liabilities		2,183	3,107
Level 2 | Interest rate contracts
Assets
Total derivative assets		464	347
Liabilities
Total derivative liabilities		1,149	1,632
Level 2 | Foreign exchange contracts
Assets
Total derivative assets		434	527
Liabilities
Total derivative liabilities		378	519
Level 2 | Commodities contracts
Assets
Total derivative assets		685	953
Liabilities
Total derivative liabilities		640	942
Level 2 | TBA contracts
Assets
Total derivative assets		3	7
Liabilities
Total derivative liabilities		16	14
Level 2 | Other contracts
Assets
Total derivative assets		0	0
Liabilities
Total derivative liabilities		0	0
Level 3
Assets
Fair Value		0	0
Loans held for sale, at fair value:		0	0
Total derivative assets		7	5
Equity securities, at fair value		0	0
Total assets		1,559	1,535
Liabilities
Total derivative liabilities		0	4
Total liabilities		0	4
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		7	5
Liabilities
Total derivative liabilities		0	4
Investments Measured at Net Asset Value
Liabilities
Equity securities, at fair value		58	43
Unfunded capital commitments		28	42
Total mortgage-backed securities
Assets
Fair Value		24,732	19,313
Total mortgage-backed securities | Level 1
Assets
Fair Value		0	0
Total mortgage-backed securities | Level 2
Assets
Fair Value		24,732	19,313
Total mortgage-backed securities | Level 3
Assets
Fair Value		0	0
Collateralized loan obligations
Assets
Fair Value		664	1,206
Collateralized loan obligations | Level 1
Assets
Fair Value		0	0
Collateralized loan obligations | Level 2
Assets
Fair Value		664	1,206
Collateralized loan obligations | Level 3
Assets
Fair Value		0	0
State and political subdivisions
Assets
Fair Value		1	2
State and political subdivisions | Level 1
Assets
Fair Value		0	0
State and political subdivisions | Level 2
Assets
Fair Value		1	2
State and political subdivisions | Level 3
Assets
Fair Value		0	0
U.S. Treasury and other
Assets
Fair Value		4,380	3,486
U.S. Treasury and other | Level 1
Assets
Fair Value		4,380	3,486
U.S. Treasury and other | Level 2
Assets
Fair Value		0	0
U.S. Treasury and other | Level 3
Assets
Fair Value		0	0
Residential loans held for sale
Assets
Loans held for sale, at fair value:		614	666
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:		614	666
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:		62	108
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:		62	108
Commercial loans held for sale | Level 3
Assets
Loans held for sale, at fair value:		0	0
Mortgage Servicing Rights
Assets
Mortgage servicing rights		1,552	1,530
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		$ 1,552	$ 1,530
[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, 2023	Dec. 31, 2022
Mortgage Servicing Rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,530	$ 1,029
Issuances	127	279
Acquisitions	0	16
Settlements	(166)	(137)
Changes in fair value during the period recognized in earnings	61	343
Ending balance	1,552	1,530
Other Derivative Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1	38
Issuances	64	93
Acquisitions	0	0
Settlements	(24)	154
Changes in fair value during the period recognized in earnings	(34)	(284)
Ending balance	$ 7	$ 1

FAIR VALUE MEASUREMENTS - Unobs

FAIR VALUE MEASUREMENTS - Unobservable Inputs Used and Valuation Techniques (Details) - Level 3	Dec. 31, 2023	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	0.0670	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 | Discounted Cash Flow | Option adjusted spread | Mortgage Servicing Rights
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	0.2490	0.2862
Minimum | Internal Model | MSR value | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	(0.0890)	(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	0.1455	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 | Discounted Cash Flow | Option adjusted spread | Mortgage Servicing Rights
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	0.9970	0.9990
Maximum | Internal Model | MSR value | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	1.4124	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	0.0723	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	6.30
Weighted Average | Discounted Cash Flow | Option adjusted spread | Mortgage Servicing Rights
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	0.8034	0.8371
Weighted Average | Internal Model | MSR value | Other contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other derivative contracts, measurement input	0.8804	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, 2023	Dec. 31, 2022	Dec. 31, 2021
Nonrecurring measurement basis | Collateral-dependent loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	$ (138)	$ (4)	$ (27)

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, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	$ 789	$ 582
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	789	582
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, 2023	Dec. 31, 2022
Financial assets:
Asset-backed investments included in HTM securities	[1]	$ 9,184	$ 9,834
Debt securities held-to-maturity, fair value	[1]	8,350	9,042
Other loans held for sale, carrying value		103	208
Other loans held for sale, fair value		103	208
Net loans and leases	[2]	143,861	154,679
Loans and leases, fair value		140,504	151,601
Other investment securities, at cost, carrying value		869	1,058
Other investment securities, at cost, estimated fair value		869	1,058
Financial liabilities:
Deposits, carrying value		177,342	180,724
Deposits, fair value		177,096	180,566
Short-term borrowed funds		505	3
Short-term borrowed funds, fair value		505	3
Long-term borrowed funds, carrying value	[2]	13,467	15,887
Long-term borrowed funds, fair value		13,012	15,469
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
Net 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		8,696	9,253
Debt securities held-to-maturity, fair value		7,887	8,506
Other loans held for sale, carrying value		0	0
Other loans held for sale, fair value		0	0
Net loans and leases		789	582
Loans and leases, fair value		789	582
Other investment securities, at cost, carrying value		851	1,038
Other investment securities, at cost, estimated fair value		851	1,038
Financial liabilities:
Deposits, carrying value		177,342	180,724
Deposits, fair value		177,096	180,566
Short-term borrowed funds		505	3
Short-term borrowed funds, fair value		505	3
Long-term borrowed funds, carrying value		13,467	15,887
Long-term borrowed funds, fair value		13,012	15,469
Level 3
Financial assets:
Asset-backed investments included in HTM securities		488	581
Debt securities held-to-maturity, fair value		463	536
Other loans held for sale, carrying value		103	208
Other loans held for sale, fair value		103	208
Net loans and leases		143,072	154,097
Loans and leases, fair value		139,715	151,019
Other investment securities, at cost, carrying value		18	20
Other investment securities, at cost, estimated fair value		18	20
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.[2]Includes amounts in consolidated VIEs. See Note 11 for additional information.

NONINTEREST INCOME - Narrative

NONINTEREST INCOME - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trust and investment services fees
Disaggregation of Revenue [Line Items]
Trailing commission income	$ 15	$ 15	$ 16

NONINTEREST INCOME - Components

NONINTEREST INCOME - Components of Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 1,266	$ 1,299	$ 1,325
Total noninterest income	1,983	2,009	2,135
Bank-owned life insurance	93	88	67
Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from other sources	717	710	810
Total noninterest income	1,983	2,009	2,135
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	4	0
Total revenue from other sources	131	97	103
Total noninterest income	132	101	103
Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	783	769	757
Consumer Banking | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from other sources	284	294	466
Total noninterest income	1,067	1,063	1,223
Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	482	526	568
Commercial Banking | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from other sources	302	319	241
Total noninterest income	784	845	809
Non-Core
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Non-Core | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from other sources	0	0	0
Total noninterest income	0	0	0
Service charges and fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	409	418	407
Service charges and fees | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	3	0
Service charges and fees | Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	277	291	302
Service charges and fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	131	124	105
Service charges and fees | Non-Core
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Card fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	291	271	248
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	244	228	216
Card fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	47	43	32
Card fees | Non-Core
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Capital markets fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	293	341	419
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	293	341	419
Capital markets fees | Non-Core
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Trust and investment services fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	259	250	239
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	259	249	239
Trust and investment services fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	1	0
Trust and investment services fees | Non-Core
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other banking fees
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	14	19	12
Other banking fees | Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	1	0
Other banking fees | Consumer Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3	1	0
Other banking fees | Commercial Banking
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	11	17	12
Other banking fees | Non-Core
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 0	$ 0	$ 0

OTHER OPERATING EXPENSE (Detail

OTHER OPERATING EXPENSE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Marketing	$ 187	$ 166	$ 111
Deposit insurance	390	96	66
Other	396	323	234
Other operating expense	$ 973	$ 585	$ 411

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Federal and state net operating and capital loss carryforwards	$ 651
Deferred tax asset valuation allowance	137	$ 133
Interest on unrecognized tax benefits accrued (released) during period	3
Accrued interest on unrecognized tax benefits	4
Capital Loss Carryforward
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Capital loss carryforward	152
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 422	$ 582	$ 658
Tax effect of changes in OCI	289	(1,319)	(199)
Total comprehensive income tax expense (benefit)	$ 711	$ (737)	$ 459

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
U.S. federal	$ 497	$ 355	$ 871
State and local	167	170	216
Total	664	525	1,087
Deferred
U.S. federal	(135)	88	(345)
State and local	(107)	(31)	(84)
Total	(242)	57	(429)
U.S. federal	362	443	526
State and local	60	139	132
Income tax expense	$ 422	$ 582	$ 658

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amount
U.S. Federal income tax expense	$ 426	$ 558	$ 625
Increase (decrease) resulting from:
State and local income taxes (net of federal benefit)	58	133	126
Bank-owned life insurance	(20)	(19)	(14)
Tax-exempt interest	(12)	(8)	(7)
Tax advantaged investments (including related credits)	(77)	(102)	(95)
Other tax credits	(3)	(9)	(7)
Adjustments for uncertain tax positions	5	1	3
Non-deductible FDIC insurance premiums	35	20	14
Legacy tax matters	0	3	0
Other	10	5	13
Income tax expense	$ 422	$ 582	$ 658
Rate
U.S. Federal income tax rate	21%	21%	21%
Increase (decrease) resulting from:
State and local income taxes (net of federal benefit)	2.90%	5%	4.20%
Bank-owned life insurance	(1.00%)	(0.70%)	(0.50%)
Tax-exempt interest	(0.60%)	(0.30%)	(0.20%)
Tax advantaged investments (including related credits)	(3.80%)	(3.80%)	(3.20%)
Other tax credits	(0.10%)	(0.30%)	(0.20%)
Adjustments for uncertain tax positions	0.20%	0%	0.10%
Non-deductible FDIC insurance premiums	1.70%	0.70%	0.50%
Legacy tax matters	0%	0.10%	0%
Other	0.50%	0.20%	0.40%
Total income tax expense and effective tax rate	20.80%	21.90%	22.10%

INCOME TAXES - Deferred Income

INCOME TAXES - Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Other comprehensive income	$ 1,291	$ 1,546
Allowance for credit losses	555	511
Federal and state net operating and capital loss carryforwards	79	77
Accrued expenses	1,152	863
Investment and other tax credit carryforwards	130	131
Other	9	19
Total deferred tax assets	3,216	3,147
Valuation allowance	(137)	(133)
Deferred tax assets, net of valuation allowance	3,079	3,014
Deferred tax liabilities:
Leasing transactions	297	287
Amortization of intangibles	421	413
Depreciation	532	470
Pension and other employee compensation plans	130	128
Partnerships	12	87
Deferred Income	3	12
MSRs	252	203
Total deferred tax liabilities	1,647	1,600
Net deferred tax asset (liability)	$ 1,432	$ 1,414

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the year	$ 6	$ 7	$ 4
Gross increase for tax positions related to current year	1	0	1
Gross increase for tax positions related to prior years	1	0	3
Decrease for tax positions as a result of the lapse of the statutes of limitations	0	0	(1)
Decrease for tax positions related to settlements with taxing authorities	(1)	(1)	0
Balance at end of year	$ 7	$ 6	$ 7

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator (basic and diluted):
Net income	$ 1,608	$ 2,073	$ 2,319
Less: Preferred stock dividends	117	113	113
Net income available to common stockholders	$ 1,491	$ 1,960	$ 2,206
Denominator:
Weighted-average common shares outstanding - basic (in shares)	475,089,384	475,959,815	425,669,451
Dilutive common shares: share-based awards (in shares)	1,603,764	1,843,327	1,766,367
Weighted-average common shares outstanding - diluted (in shares)	476,693,148	477,803,142	427,435,818
Earnings per common share:
Basic (in dollars per share)	$ 3.14	$ 4.12	$ 5.18
Diluted (in dollars per share)	$ 3.13	$ 4.10	$ 5.16
Antidilutive securities (in shares)	2,210,857	949,606	2,929

REGULATORY MATTERS - Narrative

REGULATORY MATTERS - Narrative (Details)	Dec. 31, 2023	Dec. 31, 2022
Mortgage Banking [Abstract]
Required Minimum Capital	8.50%	7.90%

REGULATORY MATTERS - Capital an

REGULATORY MATTERS - Capital and Capital Ratio Information (Details) $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Common Equity Tier 1 to Risk-Weighted Assets (Amount)
Actual	$ 18,358	$ 18,574
Required Minimum Capital	$ 14,671	$ 14,633
Common Equity Tier 1 to Risk-Weighted Assets (Ratio)
Actual	0.106	0.100
Required Minimum Capital	8.50%	7.90%
Tier 1 Capital to Risk-Weighted Assets (Amount)
Actual	$ 20,372	$ 20,588
Required Minimum Capital	$ 17,260	$ 17,411
Tier 1 Capital to Risk-Weighted Assets (Ratio)
Actual	0.118	0.111
Required Minimum Capital	0.100	0.094
Total Capital to Risk-Weighted Assets (Amount)
Actual	$ 23,608	$ 23,755
Required Minimum Capital	$ 20,712	$ 21,116
Total Capital to Risk-Weighted Assets (Ratio)
Actual	0.137	0.128
Required Minimum Capital	0.120	0.114
Tier 1 Capital to Average Assets (Leverage) (Amount)
Actual	$ 20,372	$ 20,588
Required Minimum Capital	$ 8,784	$ 8,831
Tier 1 Capital to Average Assets (Leverage) (Ratio)
Actual	0.093	0.093
Required Minimum Capital	0.040	0.040
Stress capital buffer	4%	4%
CBNA
Common Equity Tier 1 to Risk-Weighted Assets (Amount)
Actual	$ 19,411	$ 20,669
Required Minimum Capital	$ 12,047	$ 12,935
Common Equity Tier 1 to Risk-Weighted Assets (Ratio)
Actual	0.113	0.112
Required Minimum Capital	7%	7%
Tier 1 Capital to Risk-Weighted Assets (Amount)
Actual	$ 19,411	$ 20,669
Required Minimum Capital	$ 14,628	$ 15,706
Tier 1 Capital to Risk-Weighted Assets (Ratio)
Actual	0.113	0.112
Required Minimum Capital	0.085	0.085
Total Capital to Risk-Weighted Assets (Amount)
Actual	$ 22,453	$ 23,534
Required Minimum Capital	$ 18,070	$ 19,402
Total Capital to Risk-Weighted Assets (Ratio)
Actual	0.130	0.127
Required Minimum Capital	0.105	0.105
Tier 1 Capital to Average Assets (Leverage) (Amount)
Actual	$ 19,411	$ 20,669
Required Minimum Capital	$ 8,759	$ 8,807
Tier 1 Capital to Average Assets (Leverage) (Ratio)
Actual	0.089	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)	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting [Abstract]
Business operating segments | segment	3
Segment Reporting Information [Line Items]
Revenues	$ 8,224,000,000	$ 8,021,000,000	$ 6,647,000,000
Consumer Banking | Maximum
Segment Reporting Information [Line Items]
Revenues	25,000,000
Commercial Banking | Minimum
Segment Reporting Information [Line Items]
Revenues	25,000,000
Commercial Banking | Maximum
Segment Reporting Information [Line Items]
Revenues	$ 3,000,000,000

BUSINESS OPERATING SEGMENTS - S

BUSINESS OPERATING SEGMENTS - Schedule of Business Operating Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net interest income	$ 6,241	$ 6,012	$ 4,512
Noninterest income	1,983	2,009	2,135
Total revenue	8,224	8,021	6,647
Noninterest expense	5,507	4,892	4,081
Profit (loss) before provision for credit losses	2,717	3,129	2,566
Provision (benefit) for credit losses	687	474	(411)
Income before income tax expense	2,030	2,655	2,977
Income tax expense	422	582	658
NET INCOME	1,608	2,073	2,319
Total average assets	222,221	215,061	185,106
Operating Segments
Segment Reporting Information [Line Items]
Noninterest income	1,983	2,009	2,135
Operating Segments | Consumer Banking
Segment Reporting Information [Line Items]
Net interest income	4,187	3,649	2,943
Noninterest income	1,067	1,063	1,223
Total revenue	5,254	4,712	4,166
Noninterest expense	3,542	3,255	2,857
Profit (loss) before provision for credit losses	1,712	1,457	1,309
Provision (benefit) for credit losses	280	174	162
Income before income tax expense	1,432	1,283	1,147
Income tax expense	373	328	292
NET INCOME	1,059	955	855
Total average assets	72,693	68,027	57,916
Operating Segments | Commercial Banking
Segment Reporting Information [Line Items]
Net interest income	2,292	2,103	1,706
Noninterest income	784	845	809
Total revenue	3,076	2,948	2,515
Noninterest expense	1,295	1,223	973
Profit (loss) before provision for credit losses	1,781	1,725	1,542
Provision (benefit) for credit losses	250	46	156
Income before income tax expense	1,531	1,679	1,386
Income tax expense	378	375	300
NET INCOME	1,153	1,304	1,086
Total average assets	76,028	74,919	57,617
Operating Segments | Non-Core
Segment Reporting Information [Line Items]
Net interest income	(129)	378	594
Noninterest income	0	0	0
Total revenue	(129)	378	594
Noninterest expense	123	136	130
Profit (loss) before provision for credit losses	(252)	242	464
Provision (benefit) for credit losses	78	52	23
Income before income tax expense	(330)	190	441
Income tax expense	(86)	48	112
NET INCOME	(244)	142	329
Total average assets	13,745	18,121	17,592
Other
Segment Reporting Information [Line Items]
Net interest income	(109)	(118)	(731)
Noninterest income	132	101	103
Total revenue	23	(17)	(628)
Noninterest expense	547	278	121
Profit (loss) before provision for credit losses	(524)	(295)	(749)
Provision (benefit) for credit losses	79	202	(752)
Income before income tax expense	(603)	(497)	3
Income tax expense	(243)	(169)	(46)
NET INCOME	(360)	(328)	49
Total average assets	$ 59,755	$ 53,994	$ 51,981

PARENT COMPANY FINANCIALS - Con

PARENT COMPANY FINANCIALS - Condensed Statements of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING INCOME:
Total interest income	$ 10,204	$ 7,060	$ 4,851
OPERATING EXPENSE:
Salaries and employee benefits	2,599	2,549	2,132
Interest expense	3,963	1,048	339
All other expenses	973	585	411
Income tax expense (benefit)	422	582	658
NET INCOME	1,608	2,073	2,319
Total other comprehensive income (loss), net of income taxes	802	(3,895)	(605)
Total comprehensive income (loss)	2,410	(1,822)	1,714
Parent company
OPERATING INCOME:
Dividends	2,875	450	1,120
Interest	43	39	35
Management and service fees	69	69	64
All other operating income	1	1	1
Total interest income	2,996	605	1,279
OPERATING EXPENSE:
Salaries and employee benefits	39	43	36
Interest expense	129	125	119
All other expenses	31	28	28
Total operating expense	199	196	183
Income before income tax expense	2,797	409	1,096
Income tax expense (benefit)	(13)	(13)	(16)
Income before undistributed income of subsidiaries	2,810	422	1,112
NET INCOME	1,608	2,073	2,319
Total other comprehensive income (loss), net of income taxes	802	(3,895)	(605)
Total comprehensive income (loss)	2,410	(1,822)	1,714
Nonbank subsidiaries | Parent company
OPERATING INCOME:
Interest	8	3	2
Dividends	0	43	57
OPERATING EXPENSE:
Equity in undistributed income (losses) of subsidiaries	(39)	(73)	19
Bank subsidiaries | Parent company
OPERATING EXPENSE:
Equity in undistributed income (losses) of subsidiaries	$ (1,163)	$ 1,724	$ 1,188

PARENT COMPANY FINANCIALS - C_2

PARENT COMPANY FINANCIALS - Condensed Balance Sheets (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
ASSETS:
Cash and due from banks	[1]	$ 1,794	$ 1,489
Other assets	[1]	13,359	13,089
TOTAL ASSETS		221,964	226,733
LIABILITIES:
Long-term borrowed funds	[1]	13,467	15,887
Other liabilities	[1]	4,746	4,520
TOTAL LIABILITIES		197,622	203,043
Total stockholders’ equity		24,342	23,690	$ 23,420	$ 22,673
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		221,964	226,733
Parent company
ASSETS:
Cash and due from banks		2,864	1,821
Other assets		194	182
TOTAL ASSETS		27,944	27,267
LIABILITIES:
Long-term borrowed funds		3,344
Other liabilities		258	241
TOTAL LIABILITIES		3,602	3,577
Total stockholders’ equity		24,342	23,690
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		27,944	27,267
Bank subsidiaries | Parent company
ASSETS:
Loans and advances		1,152	1,153
Investments in subsidiaries		23,289	23,674
Nonbank subsidiaries | Parent company
ASSETS:
Loans and advances		154	135
Investments in subsidiaries		291	302
Unaffiliated companies | Parent company
LIABILITIES:
Long-term borrowed funds		$ 3,344	$ 3,336
[1]Includes amounts in consolidated VIEs. See Note 11 for additional information.

PARENT COMPANY FINANCIALS - C_3

PARENT COMPANY FINANCIALS - Condensed Cash Flow Statements (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES
Net income		$ 1,608	$ 2,073	$ 2,319
Adjustments to reconcile net income to net change in cash due to operating activities:
Deferred income tax expense (benefit)		(242)	57	(429)
Net increase (decrease) in other liabilities		(339)	1,036	757
Net (increase) decrease in other assets		612	(1,894)	(1,719)
Net change due to operating activities		2,961	4,119	2,275
INVESTING ACTIVITIES
Acquisitions, net of cash acquired	[1]	0	(255)	(165)
Other investing, net		(61)	(771)	(316)
Net change due to investing activities		5,248	(12,637)	(10,486)
FINANCING ACTIVITIES
Proceeds from issuance of long-term borrowed funds		25,983	24,617	0
Repayments of long-term borrowed funds		(28,418)	(19,691)	(1,352)
Treasury stock purchased		(906)	(153)	(295)
Net proceeds from issuance of preferred stock		0	0	296
Redemption of preferred stock		0	0	(250)
Dividends paid to preferred stockholders		(120)	(113)	(113)
Other		21	(25)	(22)
Net change due to financing activities		(7,128)	9,907	4,636
Net change in cash and cash equivalents	[2]	1,081	1,389	(3,575)
Cash and cash equivalents at beginning of period	[2]	10,547	9,158	12,733
Cash and cash equivalents at end of period	[2]	11,628	10,547	9,158
Parent company
OPERATING ACTIVITIES
Net income		1,608	2,073	2,319
Adjustments to reconcile net income to net change in cash due to operating activities:
Deferred income tax expense (benefit)		(4)	(11)	0
Equity in undistributed (income) losses of subsidiaries		1,202	(1,651)	(1,207)
Other, net		96	92	67
Net increase (decrease) in other liabilities		(17)	(7)	34
Net (increase) decrease in other assets		17	(44)	12
Net change due to operating activities		2,902	452	1,225
INVESTING ACTIVITIES
Investments in and advances to subsidiaries		(76)	(156)	(196)
Repayment of investments in and advances to subsidiaries		30	121	125
Acquisitions, net of cash acquired		0	(23)	(165)
Other investing, net		0	(1)	(1)
Net change due to investing activities		(46)	(59)	(237)
FINANCING ACTIVITIES
Proceeds from issuance of long-term borrowed funds		0	414	0
Repayments of long-term borrowed funds		0	(182)	(350)
Treasury stock purchased		(906)	(153)	(295)
Net proceeds from issuance of preferred stock		0	0	296
Redemption of preferred stock		0	0	(250)
Dividends paid to common stockholders		(808)	(779)	(670)
Dividends paid to preferred stockholders		(120)	(113)	(113)
Other		21	(25)	(20)
Net change due to financing activities		(1,813)	(838)	(1,402)
Net change in cash and cash equivalents		1,043	(445)	(414)
Cash and cash equivalents at beginning of period		1,821	2,266	2,680
Cash and cash equivalents at end of period		$ 2,864	$ 1,821	$ 2,266
[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, LLC, respectively, for the year ended December 31, 2022.[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