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Goodwill and Mortgage Servicing Rights (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill by Business Segment | Allocations of goodwill by business segment at December 31, 2024, 2023 and 2022 follow: Table 62: Goodwill by Business Segment
In millions | Retail Banking | Corporate & Institutional Banking | Asset Management Group | Total
Balance as of December 31, 2024 | $ | 6,473 |  | $ | 4,270 |  | $ | 189 |  | $ | 10,932 |
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 |
Commercial Mortgage Servicing Rights | Changes in the commercial MSRs follow: Table 63: Commercial Mortgage Servicing Rights
In millions | 2024 |  | 2023 |  | 2022 |
January 1 | $ | 1,032 |  |  | $ | 1,113 |  |  | $ | 740 |  |
Additions: |  |  |  |  |  |
From loans sold with servicing retained | 44 |  |  | 50 |  |  | 62 |  |
Purchases | 64 |  |  | 44 |  |  | 46 |  |
Changes in fair value due to: |  |  |  |  |  |
Time and payoffs (a) | (317) |  |  | (332) |  |  | (208) |  |
Other (b) | 262 |  |  | 157 |  |  | 473 |  |
December 31 | $ | 1,085 |  |  | $ | 1,032 |  |  | $ | 1,113 |  |
Related unpaid principal balance at December 31 | $ | 290,384 |  |  | $ | 288,042 |  |  | $ | 281,277 |  |
Servicing advances at December 31 | $ | 653 |  |  | $ | 561 |  |  | $ | 421 |  |
(a)Represents decrease in MSR value due to passage of time, which includes 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 64: Residential Mortgage Servicing Rights
In millions | 2024 |  | 2023 |  | 2022 |
January 1 | $ | 2,654 |  |  | $ | 2,310 |  |  | $ | 1,078 |  |
Additions: |  |  |  |  |  |
From loans sold with servicing retained | 28 |  |  | 23 |  |  | 57 |  |
Purchases | 43 |  |  | 444 |  |  | 897 |  |
Changes in fair value due to: |  |  |  |  |  |
Time and payoffs (a) | (254) |  |  | (237) |  |  | (231) |  |
Other (b) | 155 |  |  | 115 |  |  | 509 |  |
Sale |  |  |  | (1) |  |  |  |
December 31 | $ | 2,626 |  |  | $ | 2,654 |  |  | $ | 2,310 |  |
Unpaid principal balance of loans serviced for others at December 31 | $ | 196,915 |  |  | $ | 209,158 |  |  | $ | 189,831 |  |
Servicing advances at December 31 | $ | 153 |  |  | $ | 172 |  |  | $ | 165 |  |
(a)Represents decrease in MSR value due to passage of time, which includes 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 65: Commercial Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millions | December 31, 2024 |  | December 31, 2023 |
Fair value | $ | 1,085 |  | $ | 1,032 |
Weighted-average life (years) | 3.8 |  | 3.9 |
Weighted-average constant prepayment rate | 4.45 |  | % | 5.51 | %
Decline in fair value from 10% adverse change | $ | 8 |  | $ | 9 |
Decline in fair value from 20% adverse change | $ | 16 |  | $ | 17 |
Effective discount rate | 11.18 |  | % | 9.64 | %
Decline in fair value from 10% adverse change | $ | 35 |  | $ | 31 |
Decline in fair value from 20% adverse change | $ | 69 |  | $ | 61 |
Residential Mortgage Loan Servicing Assets - Key Valuation Assumptions | Table 66: Residential Mortgage Servicing Rights – Key Valuation Assumptions
Dollars in millions | December 31, 2024 |  | December 31, 2023 |
Fair value | $ | 2,626 |  |  | $ | 2,654 |  |
Weighted-average life (years) | 8.0 |  | 8.1 |
Weighted-average constant prepayment rate | 6.39 |  | % | 6.42 |  | %
Decline in fair value from 10% adverse change | $ | 57 |  |  | $ | 60 |  |
Decline in fair value from 20% adverse change | $ | 111 |  |  | $ | 117 |  |
Weighted-average option adjusted spread | 755 |  | bps | 765 |  | bps
Decline in fair value from 10% adverse change | $ | 81 |  |  | $ | 83 |  |
Decline in fair value from 20% adverse change | $ | 157 |  |  | $ | 161 |  |

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- Definition A sensitivity analysis or stress test showing the hypothetical effect on the fair value of commercial mortgage servicing rights of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test. + References No definition available. + Details
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- Definition A sensitivity analysis or stress test showing the hypothetical effect on the fair value of residential mortgage servicing rights of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test. + References No definition available. + Details
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- Definition Tabular disclosure of activity in the balance of servicing assets subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-4 + Details
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- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 + Details
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