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Loans (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Loan Portfolio Composition and Aging Analysis

The table below presents the composition and aging analysis of our loans held for investment portfolio as of June 30, 2020 and December 31, 2019. The delinquency aging includes all past due loans, both performing and nonperforming.

Table 3.1: Loan Portfolio Composition and Aging Analysis

		June 30, 2020
						Delinquent Loans
(Dollars in millions)		Current				30-59 Days				60-89 Days				> 90 Days				Total Delinquent Loans				Total Loans
Credit Card:
Domestic credit card		$	96,666			$	668			$	554			$	1,502			$	2,724			$	99,390
International card businesses		7,689				76				54				101				231				7,920
Total credit card		104,355				744				608				1,603				2,955				107,310
Consumer Banking:
Auto		61,043				1,517				582				177				2,276				63,319
Retail banking		3,346				20				11				16				47				3,393
Total consumer banking		64,389				1,537				593				193				2,323				66,712
Commercial Banking:
Commercial and multifamily real estate		30,667				137				118				31				286				30,953
Commercial and industrial		46,311				114				23				89				226				46,537
Total commercial banking		76,978				251				141				120				512				77,490
Total loans(1)		$	245,722			$	2,532			$	1,342			$	1,916			$	5,790			$	251,512
% of Total loans		97.7		%		1.0		%		0.5		%		0.8		%		2.3		%		100.0		%

		December 31, 2019
						Delinquent Loans
(Dollars in millions)		Current				30-59 Days				60-89 Days				> 90 Days				Total Delinquent Loans				PCI Loans				Total Loans
Credit Card:
Domestic credit card		$	113,857			$	1,341			$	1,038			$	2,277			$	4,656			$	93			$	118,606
International card businesses		9,277				133				84				136				353				0				9,630
Total credit card		123,134				1,474				1,122				2,413				5,009				93				128,236
Consumer Banking:
Auto		55,778				2,828				1,361				395				4,584				0				60,362
Retail banking		2,658				24				8				11				43				2				2,703
Total consumer banking		58,436				2,852				1,369				406				4,627				2				63,065
Commercial Banking:
Commercial and multifamily real estate		30,157				43				20				4				67				21				30,245
Commercial and industrial		44,009				75				26				143				244				10				44,263
Total commercial banking		74,166				118				46				147				311				31				74,508
Total loans(1)		$	255,736			$	4,444			$	2,537			$	2,966			$	9,947			$	126			$	265,809
% of Total loans		96.2		%		1.6		%		1.0		%		1.1		%		3.7		%		0.1		%		100.0		%

__________

⁽¹⁾ 

Loans include unamortized premiums and discounts, and unamortized deferred fees and costs totaling $1.1 billion as of both June 30, 2020 and December 31, 2019.

90 Plus Day Delinquent Loans Accruing Interest and Nonperforming Loans

The following table presents our loans held for investment that are 90 days or more past due that continue to accrue interest and loans that are classified as nonperforming as of June 30, 2020 and December 31, 2019. We also present nonperforming loans without an allowance as of June 30, 2020. Nonperforming loans generally include loans that have been placed on nonaccrual status.

Table 3.2: 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans

		June 30, 2020												December 31, 2019
(Dollars in millions)		> 90 Days and Accruing				Nonperforming Loans(1)				Nonperforming Loans Without an Allowance				> 90 Days and Accruing				Nonperforming Loans
Credit Card:
Domestic credit card		$	1,502			N/A				$	0			$	2,277			N/A
International card businesses		94				$	23			0				130				$	25
Total credit card		1,596				23				0				2,407				25
Consumer Banking:
Auto		0				260				0				0				487
Retail banking		0				24				2				0				23
Total consumer banking		0				284				2				0				510
Commercial Banking:
Commercial and multifamily real estate		14				167				162				0				38
Commercial and industrial		0				493				160				0				410
Total commercial banking		14				660				322				0				448
Total		$	1,610			$	967			$	324			$	2,407			$	983
% of Total loans held for investment		0.6		%		0.4		%		0.1		%		0.9		%		0.4		%

__________

⁽¹⁾ 

We recognized interest income for loans classified as nonperforming of $5 million and $11 million for the three and six months ended June 30, 2020, respectively.

Loans and Leases Receivable Disclosure [Line Items]

TDR Disclosures in Progress Financial Impact of Modification

The following tables present the major modification types, recorded investment amounts and financial effects of loans modified in TDRs during the three and six months ended June 30, 2020 and 2019.

Table 3.6: Troubled Debt Restructurings

		Total Loans Modified(1)				Three Months Ended June 30, 2020
						Reduced Interest Rate						Term Extension					Balance Reduction
(Dollars in millions)						% of TDR Activity(2)			Average Rate Reduction			% of TDR Activity(2)			Average Term Extension (Months)		% of TDR Activity(2)			Gross Balance Reduction
Credit Card:
Domestic credit card		$	56			100	%		15.41	%		0	%		0		0	%		$	0
International card businesses		28				100			26.56			0			0		0			0
Total credit card		84				100			19.14			0			0		0			0
Consumer Banking:
Auto		137				5			4.12			95			3		0			0
Retail banking		1				10			8.37			59			4		0			0
Total consumer banking		138				5			4.19			95			3		0			0
Commercial Banking:
Commercial and multifamily real estate		9				0			0.00			100			7		0			0
Commercial and industrial		181				0			0.00			52			8		9			7
Total commercial banking		190				0			0.00			55			8		8			7
Total		$	412			22			17.96			57			5		4			$	7

		Total Loans Modified(1)				Six Months Ended June 30, 2020
						Reduced Interest Rate						Term Extension					Balance Reduction
(Dollars in millions)						% of TDR Activity(2)			Average Rate Reduction			% of TDR Activity(2)			Average Term Extension (Months)		% of TDR Activity(2)			Gross Balance Reduction
Credit Card:
Domestic credit card		$	145			100	%		16.05	%		0	%		0		0	%		$	0
International card businesses		79				100			27.05			0			0		0			0
Total credit card		224				100			19.94			0			0		0			0
Consumer Banking:
Auto		260				12			3.51			95			4		0			0
Retail banking		4				4			11.42			15			4		0			0
Total consumer banking		264				12			3.55			93			4		0			0
Commercial Banking:
Commercial and multifamily real estate		28				0			0.00			100			10		0			0
Commercial and industrial		188				0			0.00			50			8		8			7
Total commercial banking		216				0			0.00			57			9		7			7
Total		$	704			36			17.90			52			5		2			$	7

		Total Loans Modified(1)				Three Months Ended June 30, 2019
						Reduced Interest Rate						Term Extension
(Dollars in millions)						% of TDR Activity(2)			Average Rate Reduction			% of TDR Activity(2)			Average Term Extension (Months)
Credit Card:
Domestic credit card		$	74			100	%		16.60	%		0	%		0
International card businesses		40				100			27.25			0			0
Total credit card		114				100			20.32			0			0
Consumer Banking:
Auto		52				46			3.78			89			8
Retail banking		5				9			10.55			57			3
Total consumer banking		57				42			3.93			86			8
Commercial Banking:
Commercial and industrial		14				0			0.00			100			3
Total commercial lending		14				0			0.00			100			3
Small-ticket commercial real estate		1				0			0.00			0			0
Total commercial banking		15				0			0.00			98			3
Total		$	186			75			17.45			34			7

		Total Loans Modified(1)				Six Months Ended June 30, 2019
						Reduced Interest Rate						Term Extension
(Dollars in millions)						% of TDR Activity(2)			Average Rate Reduction			% of TDR Activity(2)			Average Term Extension (Months)
Credit Card:
Domestic credit card		$	172			100	%		16.50	%		0	%		0
International card businesses		87				100			27.44			0			0
Total credit card		259				100			20.17			0			0
Consumer Banking:
Auto		124				41			3.81			90			7
Retail banking		6				10			10.91			61			3
Total consumer banking		130				39			3.90			89			7
Commercial Banking:
Commercial and multifamily real estate		34				100			0.00			0			0
Commercial and industrial		35				0			0.00			40			1
Total commercial lending		69				49			0.00			20			1
Small-ticket commercial real estate		1				0			0.00			0			0
Total commercial banking		70				49			0.00			20			0
Total		$	459			75			15.78			28			6

__________

⁽¹⁾  Represents the recorded investment of total loans modified in TDRs at the end of the quarter in which they were modified. As not every modification type is included in the table above, the total percentage of TDR activity may not add up to 100%. Some loans may receive more than one type of concession as part of the modification.

⁽²⁾ 

Due to multiple concessions granted to some troubled borrowers, percentages may total more than 100% for certain loan types.

The following table presents the type, number and recorded investment of loans modified in TDRs that experienced a default during the period and had completed a modification event in the twelve months prior to the default. A default occurs if the loan is either 90 days or more delinquent, has been charged off as of the end of the period presented or has been reclassified from accrual to nonaccrual status.

Table 3.7: TDRs—Subsequent Defaults

		Three Months Ended June 30,														Six Months Ended June 30,
		2020							2019							2020							2019
(Dollars in millions)		Number of Contracts			Amount				Number of Contracts			Amount				Number of Contracts			Amount				Number of Contracts			Amount
Credit Card:
Domestic credit card		9,582			$	21			11,581			$	26			20,468			$	43			25,608			$	55
International card businesses		17,508			25				18,185			28				35,365			51				34,891			56
Total credit card		27,090			46				29,766			54				55,833			94				60,499			111
Consumer Banking:
Auto		860			11				1,312			16				2,135			27				2,417			29
Retail banking		3			0				4			1				4			0				12			1
Total consumer banking		863			11				1,316			17				2,139			27				2,429			30
Commercial Banking:
Commercial and industrial		1			21				0			0				7			49				0			0
Total commercial banking		1			21				0			0				7			49				0			0
Total		27,954			$	78			31,082			$	71			57,979			$	170			62,928			$	141

Credit Card

Loans and Leases Receivable Disclosure [Line Items]

Credit Quality Indicator

The table below presents our credit card portfolio by delinquency status as of June 30, 2020.

Table 3.3: Credit Card Delinquency Status

		June 30, 2020
(Dollars in millions)		Revolving Loans				Revolving Loans Converted to Term				Total
Credit Card:
Domestic credit card:
Current		$	96,000			$	666			$	96,666
30-59 days		637				31				668
60-89 days		532				22				554
Greater than 90 days		1,475				27				1,502
Total domestic credit card		98,644				746				99,390
International card businesses:
Current		7,625				64				7,689
30-59 days		66				10				76
60-89 days		43				11				54
Greater than 90 days		87				14				101
Total international card businesses		7,821				99				7,920
Total credit card		$	106,465			$	845			$	107,310

Consumer Banking

Loans and Leases Receivable Disclosure [Line Items]

Credit Quality Indicator

The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of June 30, 2020 and December 31, 2019. We present our auto loan portfolio by FICO scores at origination and our retail banking loan portfolio by delinquency status, which includes all past due loans, both performing and nonperforming.

Table 3.4: Consumer Banking Portfolio by Credit Quality Indicator

		June 30, 2020
		Term Loans by Vintage Year
(Dollars in millions)		2020				2019				2018				2017				2016				Prior				Total Term Loans				Revolving Loans				Revolving Loans Converted to Term				Total				December 31, 2019
Auto—At origination FICO scores:(1)
Greater than 660		$	6,968			$	10,018			$	6,099			$	3,931			$	1,879			$	519			$	29,414			$	0			$	0			$	29,414			$	28,773
621-660		3,028				4,436				2,549				1,569				721				233				12,536				0				0				12,536				11,924
620 or below		5,310				7,550				4,149				2,612				1,272				476				21,369				0				0				21,369				19,665
Total auto		15,306				22,004				12,797				8,112				3,872				1,228				63,319				0				0				63,319				60,362
Retail banking—Delinquency status:
Current		1,032				237				236				243				202				619				2,569				768				9				3,346				2,658
30-59 days		0				0				0				1				0				4				5				15				0				20				24
60-89 days		0				0				5				1				0				1				7				4				0				11				8
Greater than 90 days		0				0				0				3				2				3				8				8				0				16				11
Total retail banking(2)		1,032				237				241				248				204				627				2,589				795				9				3,393				2,701
Total consumer banking		$	16,338			$	22,241			$	13,038			$	8,360			$	4,076			$	1,855			$	65,908			$	795			$	9			$	66,712			$	63,063

__________

⁽¹⁾  Amounts represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average FICO scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.

⁽²⁾ 

Includes the Paycheck Protection Program (“PPP”) loans of $931 million as of June 30, 2020.

Commercial Banking

Loans and Leases Receivable Disclosure [Line Items]

Credit Quality Indicator

The following table presents our commercial banking portfolio of loans held for investment by internal risk ratings as of June 30, 2020 and December 31, 2019. The internal risk rating status includes all past due loans, both performing and nonperforming.

Table 3.5: Commercial Banking Portfolio by Internal Risk Ratings

		June 30, 2020
		Term Loans by Vintage Year
(Dollars in millions)		2020				2019				2018				2017				2016				Prior				Total Term Loans				Revolving Loans				Revolving Loans Converted to Term				Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized		$	2,466			$	5,490			$	3,587			$	2,000			$	2,217			$	6,635			$	22,395			$	6,878			$	0			$	29,273
Criticized performing		69				163				343				211				216				456				1,458				55				0				1,513
Criticized nonperforming		0				11				30				0				4				122				167				0				0				167
Total commercial and multifamily real estate		2,535				5,664				3,960				2,211				2,437				7,213				24,020				6,933				0				30,953
Commercial and industrial
Noncriticized		4,879				10,234				4,758				3,078				1,998				3,814				28,761				12,774				73				41,608
Criticized performing		169				668				524				371				114				202				2,048				2,388				0				4,436
Criticized nonperforming		32				76				60				60				8				0				236				257				0				493
Total commercial and industrial		5,080				10,978				5,342				3,509				2,120				4,016				31,045				15,419				73				46,537
Total commercial banking(2)		$	7,615			$	16,642			$	9,302			$	5,720			$	4,557			$	11,229			$	55,065			$	22,352			$	73			$	77,490

		December 31, 2019
(Dollars in millions)		Commercial and Multifamily Real Estate				% of Total			Commercial and Industrial				% of Total			Total Commercial Banking				% of Total
Internal risk rating:(1)
Noncriticized		$	29,625			97.9	%		$	42,223			95.4	%		$	71,848			96.5	%
Criticized performing		561				1.9			1,620				3.7			2,181				2.9
Criticized nonperforming		38				0.1			410				0.9			448				0.6
PCI loans		21				0.1			10				0.0			31				0.0
Total		$	30,245			100.0	%		$	44,263			100.0	%		$	74,508			100.0	%

__________

⁽¹⁾  Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

⁽²⁾ 

Includes PPP loans of $231 million as of June 30, 2020.

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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