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Goodwill and Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by Business Segment
Allocations of Goodwill by business segment at December 31, 2023, 2022 and 2021 follow:

Table 54: Goodwill by Business Segment
In millionsRetail BankingCorporate & Institutional BankingAsset Management GroupTotal
Balance as of December 31, 2023$6,473 $4,270 $189 $10,932 
   Other(55)(55)
Balance as of December 31, 2022$6,473 $4,325 $189 $10,987 
Other 71 71 
Balance as of December 31, 2021$6,473 $4,254 $189 $10,916 
Commercial Mortgage Servicing Rights
Changes in the commercial MSRs follow:

Table 55: Commercial Mortgage Servicing Rights
In millions202320222021
January 1$1,113 $740 $569 
Additions:
From loans sold with servicing retained50 62 87 
Purchases44 46 41 
Changes in fair value due to:
Time and payoffs (a)(332)(208)(119)
Other (b)157 473 162 
December 31$1,032 $1,113 $740 
Related unpaid principal balance at December 31$288,042 $281,277 $272,556 
Servicing advances at December 31$561 $421 $463 
(a)Represents decrease in MSR value due to passage of time, including the impact from regularly scheduled loan principal payments, prepayments and loans that were paid off during the period.
(b)Includes MSR value changes resulting from changes in interest rates and other market-driven conditions.
Residential Mortgage Servicing Rights
Changes in the residential MSRs follow:
Table 56: Residential Mortgage Servicing Rights
In millions202320222021
January 1$2,310 $1,078 $673 
Additions:
BBVA Acquisition 35
From loans sold with servicing retained23 57 87 
Purchases444 897 411 
Changes in fair value due to:
Time and payoffs (a)(237)(231)(320)
Other (b)115 509 192 
Sale(1)
December 31$2,654 $2,310 $1,078 
Unpaid principal balance of loans serviced for others at December 31$209,158 $189,831 $132,953 
Servicing advances at December 31$172 $165 $176 
(a)Represents decrease in MSR value due to passage of time, including the impact from regularly scheduled loan principal payments, prepayments and loans that were paid off during the period.
(b)Includes MSR value changes resulting from changes in interest rates and other market-driven conditions.
Commercial Mortgage Loan Servicing Assets - Key Valuation Assumptions
The following tables set forth the fair value of commercial and residential MSRs and the sensitivity analysis of the hypothetical effect on the fair value of MSRs to immediate adverse changes of 10% and 20% in those assumptions:
Table 57: Commercial Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millionsDecember 31, 2023December 31, 2022
Fair value$1,032$1,113
Weighted-average life (years)3.94.0
Weighted-average constant prepayment rate5.51 %4.28%
Decline in fair value from 10% adverse change$9$8
Decline in fair value from 20% adverse change$17$15
Effective discount rate9.64 %9.77%
Decline in fair value from 10% adverse change$31$34
Decline in fair value from 20% adverse change$61$68
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions
Table 58: Residential Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millionsDecember 31, 2023December 31, 2022 
Fair value$2,654  $2,310  
Weighted-average life (years)8.1 8.0 
Weighted-average constant prepayment rate6.42 %6.72 %
Decline in fair value from 10% adverse change$60  $55  
Decline in fair value from 20% adverse change$117  $107  
Weighted-average option adjusted spread765bps766 bps
Decline in fair value from 10% adverse change$83  $69  
Decline in fair value from 20% adverse change$161  $134