v2.4.0.6
Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2012
Loans And Allowance For Credit Losses Tables [Abstract]  
Loans and Allowance for Credit Losses, Loans Outstanding
          
          
       Mar. 31, Dec. 31,
(in millions)  2012  2011
Commercial:    
 Commercial and industrial$ 168,546  167,216
 Real estate mortgage  105,874  105,975
 Real estate construction  18,549  19,382
 Lease financing  13,143  13,117
 Foreign (1)  39,637  39,760
  Total commercial  345,749  345,450
Consumer:    
 Real estate 1-4 family first mortgage  228,885  228,894
 Real estate 1-4 family junior lien mortgage  83,173  85,991
 Credit card  21,998  22,836
 Other revolving credit and installment  86,716  86,460
  Total consumer  420,772  424,181
   Total loans$ 766,521  769,631
          

  • Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign if the borrower's primary address is outside of the United States.

 
Loans and Allowance for Credit Losses, Significant Activity
              
              
      Quarter ended March 31,
          2012    2011
(in millions)CommercialConsumerTotal CommercialConsumerTotal
Loans - held for investment:        
 Purchases$ 1,956 83 2,039  644 - 644
 Sales  (1,820) (153) (1,973)  (1,571) (1) (1,572)
Transfers to MHFS/LHFS (1)  (36) (1) (37)  (106) (25) (131)
          
              

  • The “Purchases” and “Transfers to MHFS/LHFS" categories exclude activity in government insured/guaranteed loans. As servicer, we are able to buy delinquent insured/guaranteed loans out of the GNMA pools. These loans have different risk characteristics from the rest of our consumer portfolio, whereby this activity does not impact the allowance for loan losses in the same manner because the loans are insured by the FHA or are guaranteed by the VA. On a net basis, this activity was $3.5 billion and $2.2 billion for the quarters ended March 31, 2012 and 2011, respectively.
Loans and Allowance for Credit Losses, Allowance for Credit Losses
          
          
       Quarter ended March 31,
(in millions)   2012  2011
Balance, beginning of period$ 19,668  23,463
Provision for credit losses  1,995  2,210
Interest income on certain impaired loans (1)  (87)  (83)
Loan charge-offs:    
 Commercial:    
  Commercial and industrial  (359)  (468)
  Real estate mortgage   (82)  (179)
  Real estate construction  (80)  (119)
  Lease financing  (8)  (13)
  Foreign  (29)  (39)
   Total commercial   (558)  (818)
 Consumer:     
  Real estate 1-4 family first mortgage  (828)  (1,015)
  Real estate 1-4 family junior lien mortgage  (820)  (1,046)
  Credit card  (301)  (448)
  Other revolving credit and installment  (373)  (500)
   Total consumer  (2,322)  (3,009)
    Total loan charge-offs  (2,880)  (3,827)
Loan recoveries:    
 Commercial:    
  Commercial and industrial  103  114
  Real estate mortgage   36  27
  Real estate construction   13  36
  Lease financing  6  7
  Foreign  15  11
   Total commercial   173  195
 Consumer:     
  Real estate 1-4 family first mortgage  37  111
  Real estate 1-4 family junior lien mortgage  57  52
  Credit card  59  66
  Other revolving credit and installment   159  193
   Total consumer  312  422
    Total loan recoveries  485  617
     Net loan charge-offs (2)  (2,395)  (3,210)
Allowances related to business combinations/other  (52)  3
Balance, end of period$ 19,129  22,383
Components:     
 Allowance for loan losses$ 18,852  21,983
 Allowance for unfunded credit commitments  277  400
  Allowance for credit losses (3)$ 19,129  22,383
Net loan charge-offs (annualized) as a percentage of average total loans (2)  1.25% 1.73
Allowance for loan losses as a percentage of total loans (3)  2.46  2.93
Allowance for credit losses as a percentage of total loans (3)  2.50  2.98
          

  • Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan's effective interest rate over the remaining life of the loan recognize reductions in the allowance as interest income.
  • For PCI loans, charge-offs are only recorded to the extent that losses exceed the purchase accounting estimates.
  • The allowance for credit losses includes $245 million and $257 million at March 31, 2012 and 2011, respectively, related to PCI loans acquired from Wachovia. Loans acquired from Wachovia are included in total loans net of related purchase accounting net write-downs.
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category
            
            
     Quarter ended March 31,
        2012    2011
(in millions)CommercialConsumerTotal CommercialConsumerTotal
Balance, beginning of period$ 6,358 13,310 19,668  8,169 15,294 23,463
 Provision for credit losses  188 1,807 1,995  472 1,738 2,210
 Interest income on certain impaired loans   (31) (56) (87)  (45) (38) (83)
            
 Loan charge-offs  (558) (2,322) (2,880)  (818) (3,009) (3,827)
 Loan recoveries  173 312 485  195 422 617
  Net loan charge-offs  (385) (2,010) (2,395)  (623) (2,587) (3,210)
 Allowance related to business combinations/other  - (52) (52)  - 3 3
Balance, end of period$ 6,130 12,999 19,129  7,973 14,410 22,383
            
Loans and Allowance for Credit Losses, by Impairment Methodology
            
            
     Allowance for credit losses Recorded investment in loans
(in millions) CommercialConsumerTotal CommercialConsumerTotal
            
March 31, 2012        
            
Collectively evaluated (1)$ 3,939 8,415 12,354  329,382 373,918 703,300
Individually evaluated (2)  2,014 4,516 6,530  10,113 17,574 27,687
PCI (3)  177 68 245  6,254 29,280 35,534
 Total$ 6,130 12,999 19,129  345,749 420,772 766,521
            
December 31, 2011 
        
Collectively evaluated (1)$ 4,060 8,699 12,759  328,117 376,785 704,902
Individually evaluated (2)  2,133 4,545 6,678  10,566 17,444 28,010
PCI (3)  165 66 231  6,767 29,952 36,719
 Total$ 6,358 13,310 19,668  345,450 424,181 769,631
            

  • Represents loans collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans.
  • Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans.
  • Represents the allowance and related loan carrying value determined in accordance with ASC 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans.
Loans by Credit Quality Indicator
            
            
     CommercialRealReal   
      andestateestateLease  
(in millions) industrialmortgageconstructionfinancingForeignTotal
            
March 31, 2012       
            
By risk category:      
 Pass$ 147,651 80,762 11,017 12,449 35,530 287,409
 Criticized  20,510 22,005 5,968 694 2,909 52,086
  Total commercial loans (excluding PCI)  168,161 102,767 16,985 13,143 38,439 339,495
Total commercial PCI loans (carrying value)  385 3,107 1,564 - 1,198 6,254
   Total commercial loans $ 168,546 105,874 18,549 13,143 39,637 345,749
            
December 31, 2011       
            
By risk category:      
 Pass$ 144,980 80,215 10,865 12,455 36,567 285,082
 Criticized  21,837 22,490 6,772 662 1,840 53,601
  Total commercial loans (excluding PCI)  166,817 102,705 17,637 13,117 38,407 338,683
Total commercial PCI loans (carrying value)  399 3,270 1,745 - 1,353 6,767
   Total commercial loans $ 167,216 105,975 19,382 13,117 39,760 345,450
            
Loans by Delinquency Status, Commercial
            
            
 CommercialRealReal   
      and estateestateLease  
(in millions) industrialmortgageconstructionfinancingForeignTotal
            
March 31, 2012       
            
By delinquency status:      
 Current-29 DPD and still accruing$ 165,387 97,511 15,011 12,802 38,300 329,011
 30-89 DPD and still accruing  944 886 240 296 94 2,460
 90+ DPD and still accruing  104 289 25 - 7 425
Nonaccrual loans  1,726 4,081 1,709 45 38 7,599
  Total commercial loans (excluding PCI)  168,161 102,767 16,985 13,143 38,439 339,495
Total commercial PCI loans (carrying value)  385 3,107 1,564 - 1,198 6,254
   Total commercial loans$ 168,546 105,874 18,549 13,143 39,637 345,749
            
December 31, 2011       
            
By delinquency status:      
 Current-29 DPD and still accruing$ 163,583 97,410 15,471 12,934 38,122 327,520
 30-89 DPD and still accruing  939 954 187 130 232 2,442
 90+ DPD and still accruing  153 256 89 - 6 504
Nonaccrual loans  2,142 4,085 1,890 53 47 8,217
  Total commercial loans (excluding PCI)  166,817 102,705 17,637 13,117 38,407 338,683
Total commercial PCI loans (carrying value)  399 3,270 1,745 - 1,353 6,767
   Total commercial loans$ 167,216 105,975 19,382 13,117 39,760 345,450
            
Loans by Delinquency Status, Consumer
           
           
      Real estateReal estate Other 
      1-4 family1-4 family revolving 
      first junior lienCreditcredit and 
(in millions) mortgagemortgagecardinstallmentTotal
           
March 31, 2012      
           
By delinquency status:     
 Current-29 DPD$ 157,697 80,518 21,387 70,868 330,470
 30-59 DPD  3,573 678 163 749 5,163
 60-89 DPD  1,671 424 129 198 2,422
 90-119 DPD  944 333 115 110 1,502
 120-179 DPD  1,426 492 204 30 2,152
 180+ DPD  6,589 530 - 5 7,124
Government insured/guaranteed loans (1)  27,903 - - 14,756 42,659
 Total consumer loans (excluding PCI)  199,803 82,975 21,998 86,716 391,492
Total consumer PCI loans (carrying value)  29,082 198 - - 29,280
  Total consumer loans$ 228,885 83,173 21,998 86,716 420,772
           
December 31, 2011      
           
By delinquency status:     
 Current-29 DPD$ 156,985 83,033 22,125 69,712 331,855
 30-59 DPD  4,075 786 211 963 6,035
 60-89 DPD  2,012 501 154 275 2,942
 90-119 DPD  1,152 382 135 127 1,796
 120-179 DPD  1,704 537 211 33 2,485
 180+ DPD  6,665 546 - 4 7,215
Government insured/guaranteed loans (1)  26,555 - - 15,346 41,901
 Total consumer loans (excluding PCI)  199,148 85,785 22,836 86,460 394,229
Total consumer PCI loans (carrying value)  29,746 206 - - 29,952
  Total consumer loans$ 228,894 85,991 22,836 86,460 424,181
           

  • Represents loans whose repayments are insured by the FHA or guaranteed by the VA and student loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the Federal Family Education Loan Program (FFELP). Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $19.0 billion at March 31, 2012, compared with $18.5 billion at December 31, 2011. Student loans 90+ DPD totaled $1.2 billion at March 31, 2012, compared with $1.3 billion at December 31, 2011.
Loans by FICO Score, Consumer
           
           
      Real estateReal estate Other 
      1-4 family1-4 family revolving 
      first junior lienCreditcredit and 
(in millions) mortgagemortgagecardinstallmentTotal
           
March 31, 2012      
           
By updated FICO:     
 < 600$ 20,733 7,197 2,360 8,365 38,655
 600-639  10,895 4,019 1,802 5,839 22,555
 640-679  15,402 7,058 3,330 9,191 34,981
 680-719  23,703 12,196 4,370 10,544 50,813
 720-759  27,387 17,094 4,425 9,874 58,780
 760-799  47,741 23,831 3,441 11,242 86,255
 800+  22,648 9,816 1,883 5,866 40,213
No FICO available  3,391 1,764 387 6,208 11,750
FICO not required  - - - 4,831 4,831
Government insured/guaranteed loans (1)  27,903 - - 14,756 42,659
  Total consumer loans (excluding PCI)  199,803 82,975 21,998 86,716 391,492
Total consumer PCI loans (carrying value)  29,082 198 - - 29,280
   Total consumer loans $ 228,885 83,173 21,998 86,716 420,772
           
December 31, 2011      
           
By updated FICO:     
 < 600$ 21,604 7,428 2,323 8,921 40,276
 600-639  10,978 4,086 1,787 6,222 23,073
 640-679  15,563 7,187 3,383 9,350 35,483
 680-719  23,622 12,497 4,697 10,465 51,281
 720-759  27,417 17,574 4,760 9,936 59,687
 760-799  47,337 24,979 3,517 11,163 86,996
 800+  21,381 10,247 1,969 5,674 39,271
No FICO available  4,691 1,787 400 4,393 11,271
FICO not required  - - - 4,990 4,990
Government insured/guaranteed loans (1)  26,555 - - 15,346 41,901
  Total consumer loans (excluding PCI)  199,148 85,785 22,836 86,460 394,229
Total consumer PCI loans (carrying value)  29,746 206 - - 29,952
   Total consumer loans $ 228,894 85,991 22,836 86,460 424,181
           

  • Represents loans whose repayments are insured by the FHA or guaranteed by the VA and student loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under FFELP.
Loans by Loan to Value Ratio, Consumer
             
             
      March 31, 2012 December 31, 2011
      Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
      mortgagemortgage  mortgagemortgage 
(in millions) by LTVby CLTVTotal by LTVby CLTVTotal
By LTV/CLTV:       
 0-60%$ 45,258 11,951 57,209  46,476 12,694 59,170
 60.01-80%  48,688 14,986 63,674  46,831 15,722 62,553
 80.01-100%  36,237 19,714 55,951  36,764 20,290 57,054
 100.01-120% (1)  20,930 15,546 36,476  21,116 15,829 36,945
 > 120% (1)  18,019 18,289 36,308  18,608 18,626 37,234
No LTV/CLTV available  2,768 2,489 5,257  2,798 2,624 5,422
Government insured/guaranteed loans (2)  27,903 - 27,903  26,555 - 26,555
  Total consumer loans (excluding PCI)  199,803 82,975 282,778  199,148 85,785 284,933
Total consumer PCI loans (carrying value)  29,082 198 29,280  29,746 206 29,952
   Total consumer loans$ 228,885 83,173 312,058  228,894 85,991 314,885
             

  • Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.
  • Represents loans whose repayments are insured by the FHA or guaranteed by the VA.
Nonaccrual Loans
         
       Mar. 31,Dec. 31,
(in millions)   2012 2011
Commercial:   
 Commercial and industrial$ 1,726 2,142
 Real estate mortgage  4,081 4,085
 Real estate construction  1,709 1,890
 Lease financing  45 53
 Foreign  38 47
  Total commercial (1)  7,599 8,217
Consumer:   
 Real estate 1-4 family first mortgage (2)  10,683 10,913
 Real estate 1-4 family junior lien mortgage (3) 3,558 1,975
 Other revolving credit and installment  186 199
  Total consumer  14,427 13,087
   Total nonaccrual loans   
    (excluding PCI)$ 22,026 21,304
         

  • Includes LHFS of $9 million at March 31, 2012, and $25 million at December 31, 2011.
  • Includes MHFS of $287 million at March 31, 2012, and $301 million at December 31, 2011.
  • Includes $1.7 billion at March 31, 2012, resulting from implementation of the Interagency Guidance issued on January 31, 2012. This guidance accelerated the timing of placing these loans on nonaccrual to coincide with the timing of placing the related real estate 1-4 family first mortgage loans on nonaccrual.
90 days Past Due but Still Accruing Loans
         
         
      Mar. 31,Dec. 31,
(in millions) 2012 2011
Loan 90 days or more past due and still accruing:   
Total (excluding PCI):$ 22,555 22,569
 Less: FHA insured/guaranteed by the VA (1)(2) 19,681 19,240
 Less: Student loans guaranteed    
  under the FFELP (3)  1,238 1,281
   Total, not government    
    insured/guaranteed$ 1,636 2,048
         
By segment and class, not government   
 insured/guaranteed:   
Commercial:   
 Commercial and industrial$ 104 153
 Real estate mortgage  289 256
 Real estate construction  25 89
 Foreign  7 6
  Total commercial  425 504
Consumer:   
 Real estate 1-4 family first mortgage (2)  616 781
 Real estate 1-4 family junior lien mortgage (2)(4) 156 279
 Credit card  319 346
 Other revolving credit and installment  120 138
  Total consumer  1,211 1,544
   Total, not government    
    insured/guaranteed$ 1,636 2,048
         

  • Represents loans whose repayments are insured by the FHA or guaranteed by the VA.
  • Includes mortgage loans held for sale 90 days or more past due and still accruing.
  • Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP.
  • During first quarter 2012, $43 million of 1-4 family junior lien mortgages were transferred to nonaccrual upon implementation of the Interagency Guidance issued on January 31, 2012.
Impaired Loans
          
          
       Recorded investment 
        Impaired loans 
      Unpaid  with relatedRelated
      principalImpairedallowance forallowance for
(in millions) balanceloanscredit lossescredit losses
          
March 31, 2012     
          
Commercial:      
 Commercial and industrial$ 4,224 2,759 2,665 449
 Real estate mortgage  6,404 5,154 4,984 1,135
 Real estate construction  2,875 2,111 2,073 408
 Lease financing  90 59 59 17
 Foreign  61 30 30 5
  Total commercial (1)  13,654 10,113 9,811 2,014
Consumer:     
 Real estate 1-4 family first mortgage  16,703 14,602 14,107 3,394
 Real estate 1-4 family junior lien mortgage  2,243 2,093 2,093 787
 Credit card  594 594 578 297
 Other revolving credit and installment  287 285 249 38
  Total consumer  19,827 17,574 17,027 4,516
   Total impaired loans (excluding PCI)$ 33,481 27,687 26,838 6,530
          
December 31, 2011     
          
Commercial:      
 Commercial and industrial$ 7,191 3,072 3,018 501
 Real estate mortgage  7,490 5,114 4,637 1,133
 Real estate construction  4,733 2,281 2,281 470
 Lease financing  127 68 68 21
 Foreign  185 31 31 8
  Total commercial (1)  19,726 10,566 10,035 2,133
Consumer:     
 Real estate 1-4 family first mortgage  16,494 14,486 13,909 3,380
 Real estate 1-4 family junior lien mortgage  2,232 2,079 2,079 784
 Credit card  593 593 593 339
 Other revolving credit and installment  287 286 274 42
  Total consumer  19,606 17,444 16,855 4,545
   Total impaired loans (excluding PCI)$ 39,332 28,010 26,890 6,678
          
(1)The unpaid principal balance for commercial loans at December 31, 2011 includes approximately $5.6 billion ($2.5 billion - commercial and industrial, $1.1 billion - real estate mortgage, $1.8 billion - real estate construction and $157 million – lease financing and foreign) for commercial loans that have been fully charged off and therefore have no recorded investment. The unpaid principal balance for loans with no recorded investment has been excluded from the amounts disclosed at March 31, 2012.
          
Impaired Loans, Average Recorded Investment and Interest Income
            
            
     Quarter ended March 31,
      2012  2011
      Average Recognized AverageRecognized
      recorded interest recordedinterest
(in millions) investment income investmentincome
Commercial:        
 Commercial and industrial$ 2,888  39  3,105 24
 Real estate mortgage  5,135  17  5,522 13
 Real estate construction  2,197  10  2,681 14
 Lease financing  63  -  106 -
 Foreign  30  -  40 -
  Total commercial  10,313  66  11,454 51
Consumer:       
 Real estate 1-4 family first mortgage  14,501  189  11,901 151
 Real estate 1-4 family junior lien mortgage  2,054  22  1,763 14
 Credit card  594  14  581 6
 Other revolving credit and installment  332  18  243 9
  Total consumer  17,481  243  14,488 180
   Total impaired loans (excluding PCI)$ 27,794  309  25,942 231
            
Interest income:       
 Cash basis of accounting  $ 49   38
 Other (1)    260   193
  Total interest income  $ 309   231
            

  • Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. See footnote 1 to the table of changes in the allowance for credit losses.
Troubled Debt Restructuring, Current Defaults
                
                
      Primary modification type (1) Financial effects of modifications
            Weighted Recorded
        Other   average investment
       Interestinterest   interest related to
       raterate  Charge-rate interest rate
(in millions)Principal (2)reductionconcessions (3)Total offs (4)reduction reduction
March 31, 2012         
Commercial:           
 Commercial and industrial$ 1 8 401 410  3 1.28%$ 9
 Real estate mortgage  4 52 485 541  - 1.90   53
 Real estate construction  - 2 107 109  8 1.06   1
 Lease financing  - - 1 1  - -   -
 Foreign  - - 2 2  - -   -
  Total commercial  5 62 996 1,063  11 1.79   63
Consumer:           
 Real estate 1-4 family first mortgage  306 297 199 802  59 2.83   540
 Real estate 1-4 family junior lien mortgage  19 70 34 123  9 4.02   86
 Credit card  - 74 - 74  - 10.88   74
 Other revolving credit and installment  2 19 23 44  6 7.51   20
 Trial modifications (5)  - - 577 577  - -   -
  Total consumer  327 460 833 1,620  74 3.93   720
   Total$ 332 522 1,829 2,683  85 3.76%$ 783
                
March 31, 2011           
Commercial:           
 Commercial and industrial$ 50 44 611 705  20 3.74%$ 42
 Real estate mortgage  43 57 487 587  1 1.54   58
 Real estate construction  25 20 157 202  6 0.96   20
 Lease financing  - - 18 18  - -   -
 Foreign  - - - -  - -   -
  Total commercial  118 121 1,273 1,512  27 2.21   120
Consumer:           
 Real estate 1-4 family first mortgage  383 584 267 1,234  50 3.47   937
 Real estate 1-4 family junior lien mortgage  40 239 61 340  10 4.41   277
 Credit card  - 109 - 109  1 10.91   78
 Other revolving credit and installment  20 36 1 57  7 5.89   55
 Trial modifications (5)  - - 944 944  - -   -
  Total consumer  443 968 1,273 2,684  68 4.19   1,347
   Total$ 561 1,089 2,546 4,196  95 4.03%$ 1,467
                
(1)Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs with multiple types of concessions are presented only once in the table in the first category type based on the order presented.
(2)Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate.
(3)Other interest rate concessions include loans modified to an interest rate that is not commensurate with the risk, even though the rate may have been increased. These modifications would include renewals, term extensions and other interest adjustments, but exclude modifications that also forgive principal and/or reduce the interest rate.
(4)Charge-offs include write-downs of the investment in the loan in the period of modification. In some cases, the amount of charge off will differ from the modification terms if the loan has already been charged down based on our policies. Modifications resulted in forgiving principal (actual, contingent or deferred) of $92 million and $128 million at March 31, 2012 and 2011, respectively.
(5)Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified.
                

         
      
     Quarter ended March 31,
       2012  2011
     Recorded Recorded
     investment investment
(in millions)of defaults of defaults
Commercial:    
 Commercial and industrial$ 110  26
 Real estate mortgage  252  49
 Real estate construction  155  19
  Total commercial  517  94
Consumer:    
 Real estate 1-4 family first mortgage  147  302
 Real estate 1-4 family junior lien     
  mortgage  20  34
 Credit card  27  61
 Other revolving credit and installment  6  26
  Total consumer  200  423
   Total$ 717  517
  
Purchased Credit Impaired Loans, Loans Outstanding
        
      Mar. 31,Dec. 31,
(in millions)  2012 2011
Commercial:    
 Commercial and industrial$ 385 399
 Real estate mortgage  3,107 3,270
 Real estate construction  1,564 1,745
 Foreign  1,198 1,353
  Total commercial  6,254 6,767
Consumer:   
 Real estate 1-4 family first mortgage  29,082 29,746
 Real estate 1-4 family junior lien mortgage  198 206
  Total consumer  29,280 29,952
   Total PCI loans (carrying value)$ 35,534 36,719
Total PCI loans (unpaid principal balance)$ 53,389 55,312
        
Purchased Credit Impaired Loans, Accretable Yield
        
(in millions)  
Balance, December 31, 2008$ 10,447
 Addition of accretable yield due to acquisitions  128
 Accretion into interest income (1)  (7,199)
 Accretion into noninterest income due to sales (2)  (237)
 Reclassification from nonaccretable difference for loans with improving credit-related cash flows  4,213
 Changes in expected cash flows that do not affect nonaccretable difference (3)  8,609
Balance, December 31, 2011  15,961
 Addition of accretable yield due to acquisitions  -
 Accretion into interest income (1)  (514)
 Accretion into noninterest income due to sales (2)  -
 Reclassification from nonaccretable difference for loans with improving credit-related cash flows  235
 Changes in expected cash flows that do not affect nonaccretable difference (3)  81
Balance, March 31, 2012$ 15,763
        
(1)Includes accretable yield released as a result of settlements with borrowers, which is included in interest income.
(2)Includes accretable yield released as a result of sales to third parties, which is included in noninterest income.
(3)Represents changes in cash flows expected to be collected due to changes in interest rates on variable rate PCI loans, changes in prepayment assumptions and the impact of modifications.
        
Purchased Credit Impaired Loans, Allowance for Credit Losses
        
      Other 
(in millions) CommercialPick-a-PayconsumerTotal
Balance, December 31, 2008$ - - - -
 Provision for losses due to credit deterioration  1,668 - 116 1,784
 Charge-offs   (1,503) - (50) (1,553)
Balance, December 31, 2011  165 - 66 231
 Provision for losses due to credit deterioration  39 - 5 44
 Charge-offs   (27) - (3) (30)
Balance, March 31, 2012$ 177 - 68 245
        
Purchased Credit Impaired Loans by Credit Quality Indicator
           
     CommercialRealReal  
      andestateestate  
(in millions) industrialmortgageconstructionForeignTotal
           
March 31, 2012      
           
By risk category:     
 Pass$ 191 534 365 129 1,219
 Criticized  194 2,573 1,199 1,069 5,035
  Total commercial PCI loans$ 385 3,107 1,564 1,198 6,254
           
December 31, 2011      
      
By risk category:     
 Pass$ 191 640 321 - 1,152
 Criticized  208 2,630 1,424 1,353 5,615
  Total commercial PCI loans$ 399 3,270 1,745 1,353 6,767
           
Purchased Credit Impaired Loans by Delinquency Status, Commercial
           
 CommercialRealReal  
      and estateestate  
(in millions) industrialmortgageconstructionForeignTotal
           
March 31, 2012      
           
By delinquency status:     
 Current-29 DPD and still accruing$ 334 2,683 1,027 1,067 5,111
 30-89 DPD and still accruing  24 141 78 - 243
 90+ DPD and still accruing  27 283 459 131 900
  Total commercial PCI loans$ 385 3,107 1,564 1,198 6,254
           
December 31, 2011      
           
By delinquency status:     
 Current-29 DPD and still accruing$ 359 2,867 1,206 1,178 5,610
 30-89 DPD and still accruing  22 178 72 - 272
 90+ DPD and still accruing  18 225 467 175 885
  Total commercial PCI loans$ 399 3,270 1,745 1,353 6,767
           
Purchased Credit Impaired Loans by Delinquency Status, Consumer
             
      March 31, 2012 December 31, 2011
      Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
(in millions) mortgagemortgageTotal mortgagemortgageTotal
By delinquency status:        
 Current - 29 DPD$ 25,458 268 25,726  25,693 268 25,961
 30-59 DPD  2,818 15 2,833  3,272 20 3,292
 60-89 DPD  1,301 8 1,309  1,433 9 1,442
 90-119 DPD  619 5 624  791 8 799
 120-179 DPD  1,029 10 1,039  1,169 10 1,179
 180+ DPD  5,902 142 6,044  5,921 150 6,071
  Total consumer PCI loans (adjusted unpaid principal balance)$ 37,127 448 37,575  38,279 465 38,744
  Total consumer PCI loans (carrying value)$ 29,082 198 29,280  29,746 206 29,952
             
Purchased Credit Impaired Loans by FICO Score, Consumer
             
      March 31, 2012 December 31, 2011
      Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
(in millions) mortgagemortgageTotal mortgagemortgageTotal
By FICO:   
 < 600$ 16,173 192 16,365  17,169 210 17,379
 600-639  7,385 82 7,467  7,489 83 7,572
 640-679  6,736 90 6,826  6,646 89 6,735
 680-719  3,635 45 3,680  3,698 47 3,745
 720-759  1,853 14 1,867  1,875 14 1,889
 760-799  897 6 903  903 6 909
 800+  204 2 206  215 2 217
No FICO available  244 17 261  284 14 298
  Total consumer PCI loans (adjusted unpaid principal balance)$ 37,127 448 37,575  38,279 465 38,744
  Total consumer PCI loans (carrying value)$ 29,082 198 29,280  29,746 206 29,952
             
Purchased Credit Impaired Loans by Loan to Value Ratio, Consumer
             
      March 31, 2012 December 31, 2011
     Real estateReal estate  Real estateReal estate 
      1-4 family1-4 family  1-4 family1-4 family 
      first junior lien  first junior lien 
      mortgagemortgage  mortgagemortgage 
(in millions) by LTVby CLTVTotal by LTVby CLTVTotal
By LTV/CLTV:        
 0-60%$ 1,232 20 1,252  1,243 25 1,268
 60.01-80%  3,846 47 3,893  3,806 49 3,855
 80.01-100%  9,080 61 9,141  9,341 63 9,404
 100.01-120% (1)  9,438 77 9,515  9,471 79 9,550
 > 120% (1)  13,455 236 13,691  14,318 246 14,564
No LTV/CLTV available  76 7 83  100 3 103
  Total consumer PCI loans (adjusted unpaid principal balance)$ 37,127 448 37,575  38,279 465 38,744
  Total consumer PCI loans (carrying value)$ 29,082 198 29,280  29,746 206 29,952
             

  • Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.