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Loans (Tables)

9 Months Ended

Sep. 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 September 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

						September 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						$	93,433					$	661					$	427					$	1,020					$	2,108					$	95,541
International card businesses						7,915						77						41						67						185						8,100
Total credit card						101,348						738						468						1,087						2,293						103,641
Consumer Banking:
Auto						62,756						1,810						669						159						2,638						65,394
Retail banking						3,250						23						6						15						44						3,294
Total consumer banking						66,006						1,833						675						174						2,682						68,688
Commercial Banking:
Commercial and multifamily real estate						31,018						29						4						146						179						31,197
Commercial and industrial						44,338						75						84						200						359						44,697
Total commercial banking						75,356						104						88						346						538						75,894
Total loans(1)						$	242,710					$	2,675					$	1,231					$	1,607					$	5,513					$	248,223
% of Total loans						97.8		%				1.1		%				0.5		%				0.6		%				2.2		%				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 September 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 September 30, 2020 and December 31, 2019. We also present nonperforming loans without an allowance as of September 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

						September 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						$	1,020					N/A						$	0					$	2,277					N/A
International card businesses						63						$	21					0						130						$	25
Total credit card						1,083						21						0						2,407						25
Consumer Banking:
Auto						0						235						0						0						487
Retail banking						1						25						0						0						23
Total consumer banking						1						260						0						0						510
Commercial Banking:
Commercial and multifamily real estate						0						182						180						0						38
Commercial and industrial						0						586						243						0						410
Total commercial banking						0						768						423						0						448
Total						$	1,084					$	1,049					$	423					$	2,407					$	983
% of Total loans held for investment						0.4		%				0.4		%				0.2		%				0.9		%				0.4		%

__________

(1)We recognized interest income for loans classified as nonperforming of $4 million and $22 million for the three and nine months ended September 30, 2020, respectively.

Financing Receivable, Allowance for Credit Loss [Line Items]

TDR Disclosures

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

Table 3.6: Troubled Debt Restructurings

						Total Loans Modified(1)						Three Months Ended September 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						$	50					100		%				15.53		%				0		%				0						0		%				$	0
International card businesses						39						100						27.89						0						0						0						0
Total credit card						89						100						20.94						0						0						0						0
Consumer Banking:
Auto						133						3						4.83						94						2						0						1
Retail banking						1						85						3.24						15						61						0						0
Total consumer banking						134						4						4.75						94						2						0						1
Commercial Banking:
Commercial and multifamily real estate						57						0						0.00						100						4						0						0
Commercial and industrial						201						0						0.00						54						32						0						0
Total commercial banking						258						0						0.00						64						23						0						0
Total						$	481					19						20.08						61						14						0						$	1

						Total Loans Modified(1)						Nine Months Ended September 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						$	195					100		%				15.92		%				0		%				0						0		%				$	0
International card businesses						118						100						27.33						0						0						0						0
Total credit card						313						100						20.22						0						0						0						0
Consumer Banking:
Auto						393						9						3.68						95						3						0						1
Retail banking						5						9						10.85						15						8						0						0
Total consumer banking						398						9						3.76						94						3						0						1
Commercial Banking:
Commercial and multifamily real estate						85						0						0.00						100						6						0						0
Commercial and industrial						389						0						0.00						52						21						4						7
Total commercial banking						474						0						0.00						61						16						3						7
Total						$	1,185					29						18.49						56						9						1						$	8

						Total Loans Modified(1)						Three Months Ended September 30, 2019
												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						$	85					100		%				16.76		%				0		%				0						0		%				$	0
International card businesses						43						100						27.08						0						0						0						0
Total credit card						128						100						20.19						0						0						0						0
Consumer Banking:
Auto						66						42						3.51						89						8						1						1
Retail banking						1						9						9.30						0						0						0						0
Total consumer banking						67						42						3.53						88						8						1						1
Commercial Banking:
Commercial and industrial						51						9						1.00						15						14						0						0
Total commercial banking						51						9						1.00						15						14						0						0
Total						$	246					65						16.70						27						9						0						$	1

						Total Loans Modified(1)						Nine Months Ended September 30, 2019
												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						$	257					100		%				16.58		%				0		%				0						0		%				$	0
International card businesses						130						100						27.25						0						0						0						0
Total credit card						387						100						20.18						0						0						0						0
Consumer Banking:
Auto						190						41						3.70						90						8						1						1
Retail banking						7						10						10.73						54						3						34						0
Total consumer banking						197						40						3.76						89						7						2						1
Commercial Banking:
Commercial and multifamily real estate						34						100						0.00						0						0						0						0
Commercial and industrial						86						5						0.60						25						9						0						0
Total commercial lending						120						32						0.07						18						9						0						0
Small-ticket commercial real estate						1						0						0.00						0						0						0						0
Total commercial banking						121						32						0.07						18						9						0						0
Total						$	705					72						16.08						28						8						1						$	1

__________

(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 September 30,																								Nine Months Ended September 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						6,554						$	14					10,619						$	22					27,022						$	57					36,227						$	77
International card businesses						10,673						17						17,104						26						46,038						68						51,995						82
Total credit card						17,227						31						27,723						48						73,060						125						88,222						159
Consumer Banking:
Auto						1,307						15						1,446						18						3,442						42						3,863						47
Retail banking						3						1						6						0						7						1						18						1
Total consumer banking						1,310						16						1,452						18						3,449						43						3,881						48
Commercial Banking:
Commercial and industrial						4						16						0						0						11						65						0						0
Total commercial banking						4						16						0						0						11						65						0						0
Total						18,541						$	63					29,175						$	66					76,520						$	233					92,103						$	207

Credit Card

Financing Receivable, Allowance for Credit Loss [Line Items]

Credit Quality Indicator

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

Table 3.3: Credit Card Delinquency Status

												September 30, 2020
(Dollars in millions)												Revolving Loans						Revolving Loans Converted to Term						Total
Credit Card:
Domestic credit card:
Current												$	92,904					$	529					$	93,433
30-59 days												641						20						661
60-89 days												414						13						427
Greater than 90 days												1,004						16						1,020
Total domestic credit card												94,963						578						95,541
International card businesses:
Current												7,845						70						7,915
30-59 days												67						10						77
60-89 days												33						8						41
Greater than 90 days												59						8						67
Total international card businesses												8,004						96						8,100
Total credit card												$	102,967					$	674					$	103,641

Consumer Banking

Financing Receivable, Allowance for Credit Loss [Line Items]

Credit Quality Indicator

The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of September 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

						September 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						$	10,562					$	9,021					$	5,353					$	3,338					$	1,496					$	333					$	30,103					$	0					$	0					$	30,103					$	28,773
621-660						4,666						4,027						2,264						1,361						597						161						13,076						0						0						13,076						11,924
620 or below						7,875						6,924						3,722						2,283						1,068						343						22,215						0						0						22,215						19,665
Total auto						23,103						19,972						11,339						6,982						3,161						837						65,394						0						0						65,394						60,362
Retail banking—Delinquency status:
Current						1,081						237						231						231						186						576						2,542						699						9						3,250						2,658
30-59 days						0						0						0						2						1						3						6						17						0						23						24
60-89 days						0						0						0						0						1						2						3						3						0						6						8
Greater than 90 days						0						0						0						1						1						4						6						8						1						15						11
Total retail banking(2)						1,081						237						231						234						189						585						2,557						727						10						3,294						2,701
Total consumer banking						$	24,184					$	20,209					$	11,570					$	7,216					$	3,350					$	1,422					$	67,951					$	727					$	10					$	68,688					$	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 Paycheck Protection Program (“PPP”) loans of $966 million as of September 30, 2020.

Commercial Banking

Financing Receivable, Allowance for Credit Loss [Line Items]

Credit Quality Indicator

The following table presents our commercial banking portfolio of loans held for investment by internal risk ratings as of September 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

						September 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						$	3,017					$	5,267					$	3,426					$	1,796					$	1,972					$	5,756					$	21,234					$	7,152					$	0					$	28,386
Criticized performing						217						369						438						326						288						935						2,573						56						0						2,629
Criticized nonperforming						0						12						30						0						3						137						182						0						0						182
Total commercial and multifamily real estate						3,234						5,648						3,894						2,122						2,263						6,828						23,989						7,208						0						31,197
Commercial and industrial
Noncriticized						7,467						8,363						4,565						2,932						1,981						3,443						28,751						11,213						183						40,147
Criticized performing						258						732						461						345						91						210						2,097						1,825						42						3,964
Criticized nonperforming						45						78						52						75						9						3						262						324						0						586
Total commercial and industrial						7,770						9,173						5,078						3,352						2,081						3,656						31,110						13,362						225						44,697
Total commercial banking(2)						$	11,004					$	14,821					$	8,972					$	5,474					$	4,344					$	10,484					$	55,099					$	20,570					$	225					$	75,894

						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 $242 million as of September 30, 2020.

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