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ALLOWANCE FOR CREDIT LOSSES, NONACCRUAL LOANS AND LEASES, AND CONCENTRATIONS OF CREDIT RISK (Tables) | 9 Months Ended
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Sep. 30, 2021
Receivables [Abstract] |
Schedule of changes in the allowance for credit losses | The following table presents a summary of changes in the ALLL and the allowance for unfunded lending commitments for the three months ended and nine months ended September 30, 2021:
| Three Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2021
(in millions) | Commercial | Retail | Total |  | Commercial | Retail | Total
Allowance for loan and lease losses, beginning of period | $953 |  | $994 |  | $1,947 |  |  | $1,233 |  | $1,210 |  | $2,443 |
Charge-offs | (17) |  | (70) |  | (87) |  |  | (196) |  | (243) |  | (439) |
Recoveries | 3 |  | 40 |  | 43 |  |  | 37 |  | 122 |  | 159 |
Net charge-offs | (14) |  | (30) |  | (44) |  |  | (159) |  | (121) |  | (280) |
Provision charged to income | (72) |  | 24 |  | (48) |  |  | (207) |  | (101) |  | (308) |
Allowance for loan and lease losses, end of period | $867 |  | $988 |  | $1,855 |  |  | $867 |  | $988 |  | $1,855 |
Allowance for unfunded lending commitments, beginning of period | $121 |  | $13 |  | $134 |  |  | $186 |  | $41 |  | $227 |
Provision for unfunded lending commitments | 9 |  | 6 |  | 15 |  |  | (56) |  | (22) |  | (78) |
Allowance for unfunded lending commitments, end of period | $130 |  | $19 |  | $149 |  |  | $130 |  | $19 |  | $149 |
The following table presents a summary of changes in the ALLL and the allowance for unfunded lending commitments for the three months and nine months ended September 30, 2020:
| Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2020
(in millions) | Commercial | Retail | Total |  | Commercial | Retail | Total
Allowance for loan and lease losses, beginning of period | $1,235 |  | $1,213 |  | $2,448 |  |  | $674 |  | $578 |  | $1,252 |
Cumulative effect of change in accounting principle | — |  | — |  | — |  |  | (176) |  | 629 |  | 453 |
Allowance for loan and lease losses, beginning of period, adjusted | 1,235 |  | 1,213 |  | 2,448 |  |  | 498 |  | 1,207 |  | 1,705 |
Charge-offs | (171) |  | (86) |  | (257) |  |  | (292) |  | (319) |  | (611) |
Recoveries | 1 |  | 37 |  | 38 |  |  | 7 |  | 101 |  | 108 |
Net charge-offs | (170) |  | (49) |  | (219) |  |  | (285) |  | (218) |  | (503) |
Provision charged to income | 224 |  | 89 |  | 313 |  |  | 1,076 |  | 264 |  | 1,340 |
Allowance for loan and lease losses, end of period | $1,289 |  | $1,253 |  | $2,542 |  |  | $1,289 |  | $1,253 |  | $2,542 |
Allowance for unfunded lending commitments, beginning of period | $69 |  | $10 |  | $79 |  |  | $44 |  | $— |  | $44 |
Cumulative effect of change in accounting principle | — |  | — |  | — |  |  | (3) |  | 1 |  | (2) |
Allowance for unfunded lending commitments, beginning of period, adjusted | 69 |  | 10 |  | 79 |  |  | 41 |  | 1 |  | 42 |
Provision for unfunded lending commitments | 83 |  | 32 |  | 115 |  |  | 111 |  | 41 |  | 152 |
Allowance for unfunded lending commitments, end of period | $152 |  | $42 |  | $194 |  |  | $152 |  | $42 |  | $194 |
Schedule of classes of loans and leases, amortized cost basis by credit quality indicator | The following table presents the amortized cost basis of commercial loans and leases, by vintage date and regulatory classification rating, as of September 30, 2021:
| Term Loans by Origination Year |  | Revolving Loans |  |
(in millions) | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior to 2017 |  | Within the Revolving Period | Converted to Term |  | Total
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass(1) | $6,411 |  |  | $4,086 |  |  | $4,723 |  |  | $3,079 |  |  | $1,723 |  |  | $2,480 |  |  | $16,578 |  | $138 |  |  | $39,218 |
Special Mention | 4 |  |  | 47 |  |  | 226 |  |  | 148 |  |  | 55 |  |  | 182 |  |  | 451 |  | 2 |  |  | 1,115 |
Substandard | 40 |  |  | 110 |  |  | 229 |  |  | 121 |  |  | 91 |  |  | 227 |  |  | 550 |  | 18 |  |  | 1,386 |
Doubtful | 26 |  |  | 8 |  |  | 12 |  |  | 21 |  |  | 11 |  |  | 17 |  |  | 37 |  | 3 |  |  | 135 |
Total commercial and industrial | 6,481 |  |  | 4,251 |  |  | 5,190 |  |  | 3,369 |  |  | 1,880 |  |  | 2,906 |  |  | 17,616 |  | 161 |  |  | 41,854 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,073 |  |  | 2,586 |  |  | 3,835 |  |  | 2,484 |  |  | 863 |  |  | 1,343 |  |  | 962 |  | — |  |  | 13,146 |
Special Mention | 46 |  |  | 3 |  |  | 148 |  |  | 99 |  |  | 169 |  |  | 151 |  |  | — |  | — |  |  | 616 |
Substandard | 28 |  |  | 97 |  |  | 91 |  |  | 279 |  |  | 150 |  |  | 81 |  |  | 9 |  | — |  |  | 735 |
Doubtful | — |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  | — |  |  | 11 |
Total commercial real estate | 1,147 |  |  | 2,695 |  |  | 4,074 |  |  | 2,862 |  |  | 1,182 |  |  | 1,577 |  |  | 971 |  | — |  |  | 14,508 |
Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 284 |  |  | 281 |  |  | 191 |  |  | 180 |  |  | 79 |  |  | 504 |  |  | — |  | — |  |  | 1,519 |
Special Mention | 2 |  |  | 16 |  |  | 2 |  |  | 8 |  |  | 5 |  |  | 16 |  |  | — |  | — |  |  | 49 |
Substandard | 1 |  |  | 16 |  |  | 6 |  |  | — |  |  | — |  |  | 1 |  |  | — |  | — |  |  | 24 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  | — |  |  | 1 |
Total leases | 287 |  |  | 313 |  |  | 199 |  |  | 188 |  |  | 84 |  |  | 522 |  |  | — |  | — |  |  | 1,593 |
Total commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass(1) | 7,768 |  |  | 6,953 |  |  | 8,749 |  |  | 5,743 |  |  | 2,665 |  |  | 4,327 |  |  | 17,540 |  | 138 |  |  | 53,883 |
Special Mention | 52 |  |  | 66 |  |  | 376 |  |  | 255 |  |  | 229 |  |  | 349 |  |  | 451 |  | 2 |  |  | 1,780 |
Substandard | 69 |  |  | 223 |  |  | 326 |  |  | 400 |  |  | 241 |  |  | 309 |  |  | 559 |  | 18 |  |  | 2,145 |
Doubtful | 26 |  |  | 17 |  |  | 12 |  |  | 21 |  |  | 11 |  |  | 20 |  |  | 37 |  | 3 |  |  | 147 |
Total commercial | $7,915 |  |  | $7,259 |  |  | $9,463 |  |  | $6,419 |  |  | $3,146 |  |  | $5,005 |  |  | $18,587 |  | $161 |  |  | $57,955 |
(1) Includes $1.9 billion of PPP loans designated as pass that are fully guaranteed by the SBA originating in 2021 and 2020. The following table presents the amortized cost basis of commercial loans and leases, by vintage date and regulatory classification rating, as of December 31, 2020:
| Term Loans by Origination Year |  | Revolving Loans |  |
(in millions) | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior to 2016 |  | Within the Revolving Period | Converted to Term |  | Total
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass(1) | $8,036 |  |  | $5,730 |  |  | $4,180 |  |  | $2,174 |  |  | $1,157 |  |  | $1,980 |  |  | $17,281 |  | $340 |  |  | $40,878 |
Special Mention | 34 |  |  | 264 |  |  | 163 |  |  | 84 |  |  | 60 |  |  | 173 |  |  | 771 |  | 34 |  |  | 1,583 |
Substandard | 91 |  |  | 195 |  |  | 248 |  |  | 100 |  |  | 81 |  |  | 127 |  |  | 600 |  | 22 |  |  | 1,464 |
Doubtful | 65 |  |  | 10 |  |  | 34 |  |  | 38 |  |  | 3 |  |  | 31 |  |  | 63 |  | 4 |  |  | 248 |
Total commercial and industrial | 8,226 |  |  | 6,199 |  |  | 4,625 |  |  | 2,396 |  |  | 1,301 |  |  | 2,311 |  |  | 18,715 |  | 400 |  |  | 44,173 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,848 |  |  | 2,836 |  |  | 2,810 |  |  | 1,106 |  |  | 566 |  |  | 919 |  |  | 3,271 |  | — |  |  | 13,356 |
Special Mention | 19 |  |  | 130 |  |  | 121 |  |  | 92 |  |  | 94 |  |  | 48 |  |  | 300 |  | — |  |  | 804 |
Substandard | 116 |  |  | 2 |  |  | 65 |  |  | 5 |  |  | 53 |  |  | 26 |  |  | 149 |  | — |  |  | 416 |
Doubtful | 16 |  |  | 26 |  |  | 8 |  |  | — |  |  | — |  |  | 2 |  |  | 24 |  | — |  |  | 76 |
Total commercial real estate | 1,999 |  |  | 2,994 |  |  | 3,004 |  |  | 1,203 |  |  | 713 |  |  | 995 |  |  | 3,744 |  | — |  |  | 14,652 |
Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 455 |  |  | 246 |  |  | 229 |  |  | 139 |  |  | 180 |  |  | 673 |  |  | — |  | — |  |  | 1,922 |
Special Mention | 3 |  |  | 4 |  |  | 2 |  |  | 4 |  |  | 2 |  |  | 18 |  |  | — |  | — |  |  | 33 |
Substandard | — |  |  | 2 |  |  | 2 |  |  | 4 |  |  | 4 |  |  | — |  |  | — |  | — |  |  | 12 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  | — |  |  | 1 |
Total leases | 458 |  |  | 252 |  |  | 233 |  |  | 147 |  |  | 186 |  |  | 692 |  |  | — |  | — |  |  | 1,968 |
Total commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass(1) | 10,339 |  |  | 8,812 |  |  | 7,219 |  |  | 3,419 |  |  | 1,903 |  |  | 3,572 |  |  | 20,552 |  | 340 |  |  | 56,156 |
Special Mention | 56 |  |  | 398 |  |  | 286 |  |  | 180 |  |  | 156 |  |  | 239 |  |  | 1,071 |  | 34 |  |  | 2,420 |
Substandard | 207 |  |  | 199 |  |  | 315 |  |  | 109 |  |  | 138 |  |  | 153 |  |  | 749 |  | 22 |  |  | 1,892 |
Doubtful | 81 |  |  | 36 |  |  | 42 |  |  | 38 |  |  | 3 |  |  | 34 |  |  | 87 |  | 4 |  |  | 325 |
Total commercial | $10,683 |  |  | $9,445 |  |  | $7,862 |  |  | $3,746 |  |  | $2,200 |  |  | $3,998 |  |  | $22,459 |  | $400 |  |  | $60,793 |
(1) Includes $4.2 billion of PPP loans designated as pass that are fully guaranteed by the SBA originating in 2020. For retail loans, Citizens utilizes FICO credit scores and the loan’s payment and delinquency status to monitor credit quality. Management believes FICO scores are the strongest indicator of credit losses over the contractual life of the loan and assist management in predicting the borrower’s future payment performance. Scores are based on current and historical national industry-wide consumer level credit performance data. The following table presents the amortized cost basis of retail loans, by vintage date and FICO scores, as of September 30, 2021:
| Term Loans by Origination Year |  | Revolving Loans |  |
(in millions) | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior to 2017 |  | Within the Revolving Period | Converted to Term |  | Total
Residential mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | $1,585 |  |  | $3,179 |  |  | $1,403 |  |  | $395 |  |  | $784 |  |  | $2,389 |  |  | $— |  | $— |  |  | $9,735 |
740-799 | 2,607 |  |  | 2,087 |  |  | 853 |  |  | 265 |  |  | 384 |  |  | 1,253 |  |  | — |  | — |  |  | 7,449 |
680-739 | 639 |  |  | 613 |  |  | 356 |  |  | 173 |  |  | 185 |  |  | 611 |  |  | — |  | — |  |  | 2,577 |
620-679 | 84 |  |  | 117 |  |  | 169 |  |  | 103 |  |  | 112 |  |  | 306 |  |  | — |  | — |  |  | 891 |
<620 | 8 |  |  | 56 |  |  | 166 |  |  | 167 |  |  | 165 |  |  | 281 |  |  | — |  | — |  |  | 843 |
No FICO available(1) | 2 |  |  | 5 |  |  | 1 |  |  | — |  |  | — |  |  | 10 |  |  | — |  | — |  |  | 18 |
Total residential mortgages | 4,925 |  |  | 6,057 |  |  | 2,948 |  |  | 1,103 |  |  | 1,630 |  |  | 4,850 |  |  | — |  | — |  |  | 21,513 |
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | — |  |  | 2 |  |  | 6 |  |  | 6 |  |  | 4 |  |  | 154 |  |  | 4,333 |  | 294 |  |  | 4,799 |
740-799 | 1 |  |  | 1 |  |  | 5 |  |  | 5 |  |  | 8 |  |  | 137 |  |  | 3,405 |  | 299 |  |  | 3,861 |
680-739 | — |  |  | 1 |  |  | 8 |  |  | 13 |  |  | 17 |  |  | 151 |  |  | 1,665 |  | 250 |  |  | 2,105 |
620-679 | — |  |  | 3 |  |  | 13 |  |  | 23 |  |  | 19 |  |  | 123 |  |  | 345 |  | 176 |  |  | 702 |
<620 | — |  |  | 2 |  |  | 16 |  |  | 22 |  |  | 21 |  |  | 96 |  |  | 86 |  | 179 |  |  | 422 |
Total home equity | 1 |  |  | 9 |  |  | 48 |  |  | 69 |  |  | 69 |  |  | 661 |  |  | 9,834 |  | 1,198 |  |  | 11,889 |
Automobile |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 1,287 |  |  | 897 |  |  | 608 |  |  | 286 |  |  | 183 |  |  | 84 |  |  | — |  | — |  |  | 3,345 |
740-799 | 1,781 |  |  | 1,177 |  |  | 707 |  |  | 344 |  |  | 195 |  |  | 85 |  |  | — |  | — |  |  | 4,289 |
680-739 | 1,436 |  |  | 958 |  |  | 589 |  |  | 277 |  |  | 154 |  |  | 69 |  |  | — |  | — |  |  | 3,483 |
620-679 | 680 |  |  | 436 |  |  | 297 |  |  | 156 |  |  | 89 |  |  | 45 |  |  | — |  | — |  |  | 1,703 |
<620 | 120 |  |  | 142 |  |  | 168 |  |  | 118 |  |  | 75 |  |  | 45 |  |  | — |  | — |  |  | 668 |
No FICO available(1) | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  |  | 4 |
Total automobile | 5,308 |  |  | 3,610 |  |  | 2,369 |  |  | 1,181 |  |  | 696 |  |  | 328 |  |  | — |  | — |  |  | 13,492 |
Education |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 1,080 |  |  | 1,865 |  |  | 921 |  |  | 566 |  |  | 519 |  |  | 951 |  |  | — |  | — |  |  | 5,902 |
740-799 | 1,245 |  |  | 1,743 |  |  | 730 |  |  | 402 |  |  | 297 |  |  | 550 |  |  | — |  | — |  |  | 4,967 |
680-739 | 369 |  |  | 526 |  |  | 246 |  |  | 150 |  |  | 113 |  |  | 278 |  |  | — |  | — |  |  | 1,682 |
620-679 | 29 |  |  | 60 |  |  | 41 |  |  | 34 |  |  | 28 |  |  | 105 |  |  | — |  | — |  |  | 297 |
<620 | 2 |  |  | 8 |  |  | 11 |  |  | 11 |  |  | 10 |  |  | 46 |  |  | — |  | — |  |  | 88 |
No FICO available(1) | 10 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 54 |  |  | — |  | — |  |  | 64 |
Total education | 2,735 |  |  | 4,202 |  |  | 1,949 |  |  | 1,163 |  |  | 967 |  |  | 1,984 |  |  | — |  | — |  |  | 13,000 |
Other retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 134 |  |  | 288 |  |  | 154 |  |  | 79 |  |  | 37 |  |  | 35 |  |  | 366 |  | — |  |  | 1,093 |
740-799 | 211 |  |  | 395 |  |  | 216 |  |  | 103 |  |  | 47 |  |  | 29 |  |  | 711 |  | 2 |  |  | 1,714 |
680-739 | 179 |  |  | 308 |  |  | 151 |  |  | 69 |  |  | 29 |  |  | 14 |  |  | 667 |  | 5 |  |  | 1,422 |
620-679 | 114 |  |  | 150 |  |  | 51 |  |  | 24 |  |  | 8 |  |  | 5 |  |  | 264 |  | 5 |  |  | 621 |
<620 | 19 |  |  | 39 |  |  | 19 |  |  | 11 |  |  | 3 |  |  | 3 |  |  | 78 |  | 6 |  |  | 178 |
No FICO available(1) | 120 |  |  | 7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 313 |  | 1 |  |  | 441 |
Total other retail | 777 |  |  | 1,187 |  |  | 591 |  |  | 286 |  |  | 124 |  |  | 86 |  |  | 2,399 |  | 19 |  |  | 5,469 |
Total retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 4,086 |  |  | 6,231 |  |  | 3,092 |  |  | 1,332 |  |  | 1,527 |  |  | 3,613 |  |  | 4,699 |  | 294 |  |  | 24,874 |
740-799 | 5,845 |  |  | 5,403 |  |  | 2,511 |  |  | 1,119 |  |  | 931 |  |  | 2,054 |  |  | 4,116 |  | 301 |  |  | 22,280 |
680-739 | 2,623 |  |  | 2,406 |  |  | 1,350 |  |  | 682 |  |  | 498 |  |  | 1,123 |  |  | 2,332 |  | 255 |  |  | 11,269 |
620-679 | 907 |  |  | 766 |  |  | 571 |  |  | 340 |  |  | 256 |  |  | 584 |  |  | 609 |  | 181 |  |  | 4,214 |
<620 | 149 |  |  | 247 |  |  | 380 |  |  | 329 |  |  | 274 |  |  | 471 |  |  | 164 |  | 185 |  |  | 2,199 |
No FICO available(1) | 136 |  |  | 12 |  |  | 1 |  |  | — |  |  | — |  |  | 64 |  |  | 313 |  | 1 |  |  | 527 |
Total retail | $13,746 |  |  | $15,065 |  |  | $7,905 |  |  | $3,802 |  |  | $3,486 |  |  | $7,909 |  |  | $12,233 |  | $1,217 |  |  | $65,363 |
(1) Represents loans for which an updated FICO score was unavailable (e.g., due to recent profile changes). The following table presents the amortized cost basis of retail loans, by vintage date and FICO scores, as of December 31, 2020:
| Term Loans by Origination Year |  | Revolving Loans |  |
(in millions) | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior to 2016 |  | Within the Revolving Period | Converted to Term |  | Total
Residential mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | $2,687 |  |  | $1,885 |  |  | $638 |  |  | $1,129 |  |  | $1,615 |  |  | $1,755 |  |  | $— |  | $— |  |  | $9,709 |
740-799 | 2,931 |  |  | 1,133 |  |  | 398 |  |  | 527 |  |  | 743 |  |  | 904 |  |  | — |  | — |  |  | 6,636 |
680-739 | 784 |  |  | 351 |  |  | 162 |  |  | 172 |  |  | 295 |  |  | 458 |  |  | — |  | — |  |  | 2,222 |
620-679 | 97 |  |  | 94 |  |  | 44 |  |  | 56 |  |  | 66 |  |  | 223 |  |  | — |  | — |  |  | 580 |
<620 | 12 |  |  | 28 |  |  | 35 |  |  | 58 |  |  | 50 |  |  | 185 |  |  | — |  | — |  |  | 368 |
No FICO available(1) | 1 |  |  | 2 |  |  | 1 |  |  | 5 |  |  | 1 |  |  | 14 |  |  | — |  | — |  |  | 24 |
Total residential mortgages | 6,512 |  |  | 3,493 |  |  | 1,278 |  |  | 1,947 |  |  | 2,770 |  |  | 3,539 |  |  | — |  | — |  |  | 19,539 |
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 2 |  |  | 8 |  |  | 10 |  |  | 7 |  |  | 5 |  |  | 216 |  |  | 4,319 |  | 344 |  |  | 4,911 |
740-799 | 2 |  |  | 6 |  |  | 7 |  |  | 6 |  |  | 5 |  |  | 180 |  |  | 3,234 |  | 331 |  |  | 3,771 |
680-739 | 1 |  |  | 6 |  |  | 10 |  |  | 15 |  |  | 8 |  |  | 179 |  |  | 1,632 |  | 284 |  |  | 2,135 |
620-679 | — |  |  | 10 |  |  | 18 |  |  | 21 |  |  | 14 |  |  | 136 |  |  | 402 |  | 195 |  |  | 796 |
<620 | 1 |  |  | 17 |  |  | 30 |  |  | 29 |  |  | 18 |  |  | 122 |  |  | 105 |  | 214 |  |  | 536 |
Total home equity | 6 |  |  | 47 |  |  | 75 |  |  | 78 |  |  | 50 |  |  | 833 |  |  | 9,692 |  | 1,368 |  |  | 12,149 |
Automobile |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 1,056 |  |  | 812 |  |  | 424 |  |  | 312 |  |  | 169 |  |  | 62 |  |  | — |  | — |  |  | 2,835 |
740-799 | 1,514 |  |  | 1,022 |  |  | 531 |  |  | 344 |  |  | 172 |  |  | 59 |  |  | — |  | — |  |  | 3,642 |
680-739 | 1,347 |  |  | 889 |  |  | 461 |  |  | 282 |  |  | 138 |  |  | 47 |  |  | — |  | — |  |  | 3,164 |
620-679 | 669 |  |  | 484 |  |  | 259 |  |  | 157 |  |  | 84 |  |  | 32 |  |  | — |  | — |  |  | 1,685 |
<620 | 140 |  |  | 242 |  |  | 189 |  |  | 137 |  |  | 79 |  |  | 34 |  |  | — |  | — |  |  | 821 |
No FICO available(1) | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | — |  | — |  |  | 6 |
Total automobile | 4,728 |  |  | 3,449 |  |  | 1,864 |  |  | 1,232 |  |  | 642 |  |  | 238 |  |  | — |  | — |  |  | 12,153 |
Education |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 1,817 |  |  | 1,363 |  |  | 849 |  |  | 781 |  |  | 578 |  |  | 777 |  |  | — |  | — |  |  | 6,165 |
740-799 | 1,797 |  |  | 1,009 |  |  | 541 |  |  | 387 |  |  | 251 |  |  | 423 |  |  | — |  | — |  |  | 4,408 |
680-739 | 450 |  |  | 294 |  |  | 173 |  |  | 127 |  |  | 90 |  |  | 221 |  |  | — |  | — |  |  | 1,355 |
620-679 | 26 |  |  | 35 |  |  | 33 |  |  | 28 |  |  | 25 |  |  | 95 |  |  | — |  | — |  |  | 242 |
<620 | 2 |  |  | 5 |  |  | 10 |  |  | 10 |  |  | 8 |  |  | 41 |  |  | — |  | — |  |  | 76 |
No FICO available(1) | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 60 |  |  | — |  | — |  |  | 62 |
Total education | 4,094 |  |  | 2,706 |  |  | 1,606 |  |  | 1,333 |  |  | 952 |  |  | 1,617 |  |  | — |  | — |  |  | 12,308 |
Other retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 461 |  |  | 380 |  |  | 163 |  |  | 77 |  |  | 15 |  |  | 44 |  |  | 341 |  | — |  |  | 1,481 |
740-799 | 620 |  |  | 460 |  |  | 184 |  |  | 81 |  |  | 19 |  |  | 31 |  |  | 638 |  | 2 |  |  | 2,035 |
680-739 | 495 |  |  | 302 |  |  | 111 |  |  | 48 |  |  | 10 |  |  | 13 |  |  | 561 |  | 5 |  |  | 1,545 |
620-679 | 248 |  |  | 104 |  |  | 37 |  |  | 14 |  |  | 3 |  |  | 5 |  |  | 174 |  | 7 |  |  | 592 |
<620 | 24 |  |  | 30 |  |  | 17 |  |  | 6 |  |  | 1 |  |  | 3 |  |  | 77 |  | 8 |  |  | 166 |
No FICO available(1) | 54 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 272 |  | 2 |  |  | 329 |
Total other retail | 1,902 |  |  | 1,277 |  |  | 512 |  |  | 226 |  |  | 48 |  |  | 96 |  |  | 2,063 |  | 24 |  |  | 6,148 |
Total retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
800+ | 6,023 |  |  | 4,448 |  |  | 2,084 |  |  | 2,306 |  |  | 2,382 |  |  | 2,854 |  |  | 4,660 |  | 344 |  |  | 25,101 |
740-799 | 6,864 |  |  | 3,630 |  |  | 1,661 |  |  | 1,345 |  |  | 1,190 |  |  | 1,597 |  |  | 3,872 |  | 333 |  |  | 20,492 |
680-739 | 3,077 |  |  | 1,842 |  |  | 917 |  |  | 644 |  |  | 541 |  |  | 918 |  |  | 2,193 |  | 289 |  |  | 10,421 |
620-679 | 1,040 |  |  | 727 |  |  | 391 |  |  | 276 |  |  | 192 |  |  | 491 |  |  | 576 |  | 202 |  |  | 3,895 |
<620 | 179 |  |  | 322 |  |  | 281 |  |  | 240 |  |  | 156 |  |  | 385 |  |  | 182 |  | 222 |  |  | 1,967 |
No FICO available(1) | 59 |  |  | 3 |  |  | 1 |  |  | 5 |  |  | 1 |  |  | 78 |  |  | 272 |  | 2 |  |  | 421 |
Total retail | $17,242 |  |  | $10,972 |  |  | $5,335 |  |  | $4,816 |  |  | $4,462 |  |  | $6,323 |  |  | $11,755 |  | $1,392 |  |  | $62,297 |
(1) Represents loans for which an updated FICO score was unavailable (e.g., due to recent profile changes).
Schedule of nonaccrual loans and leases and loans accruing and 90 days or more past due | The following table presents nonaccrual loans and leases and loans accruing and 90 days or more past due:
| As of September 30, 2021 |  | As of December 31, 2020
(in millions) | Nonaccrual loans and leases | 90+ days past due and accruing | Nonaccrual with no related ACL |  | Nonaccrual loans and leases | 90+ days past due and accruing | Nonaccrual with no related ACL
Commercial and industrial | $170 |  | $4 |  | $61 |  |  | $280 |  | $20 |  | $56 |
Commercial real estate | 98 |  | — |  | 1 |  |  | 176 |  | — |  | 2 |
Leases | 1 |  | — |  | — |  |  | 2 |  | 1 |  | — |
Total commercial | 269 |  | 4 |  | 62 |  |  | 458 |  | 21 |  | 58 |
Residential mortgages(1) | 164 |  | 293 |  | 142 |  |  | 167 |  | 30 |  | 96 |
Home equity | 216 |  | — |  | 188 |  |  | 276 |  | — |  | 207 |
Automobile | 55 |  | — |  | 29 |  |  | 72 |  | — |  | 17 |
Education | 23 |  | 1 |  | 2 |  |  | 18 |  | 2 |  | 2 |
Other retail | 20 |  | 14 |  | 2 |  |  | 28 |  | 9 |  | — |
Total retail | 478 |  | 308 |  | 363 |  |  | 561 |  | 41 |  | 322 |
Total loans and leases | $747 |  | $312 |  | $425 |  |  | $1,019 |  | $62 |  | $380 |
(1) 90+ days past due and accruing includes $289 million and $21 million of loans fully or partially guaranteed by the FHA, VA, and USDA for September 30, 2021 and December 31, 2020, respectively.
Schedule of accruing and nonaccruing past due amounts | The following table presents an analysis of the age of both accruing and nonaccrual loan and lease past due amounts:
| September 30, 2021 |  | December 31, 2020
| Days Past Due |  | Days Past Due
(in millions) | Current-29 | 30-59 | 60-89 | 90+ | Total |  | Current-29 | 30-59 | 60-89 | 90+ | Total
Commercial and industrial | $41,783 |  | $25 |  | $3 |  | $43 |  | $41,854 |  |  | $43,817 |  | $223 |  | $16 |  | $117 |  | $44,173 |
Commercial real estate | 14,402 |  | 3 |  | 5 |  | 98 |  | 14,508 |  |  | 14,531 |  | 1 |  | 85 |  | 35 |  | 14,652 |
Leases | 1,591 |  | — |  | 1 |  | 1 |  | 1,593 |  |  | 1,956 |  | 9 |  | — |  | 3 |  | 1,968 |
Total commercial | 57,776 |  | 28 |  | 9 |  | 142 |  | 57,955 |  |  | 60,304 |  | 233 |  | 101 |  | 155 |  | 60,793 |
Residential mortgages(1) | 20,861 |  | 155 |  | 57 |  | 440 |  | 21,513 |  |  | 19,291 |  | 59 |  | 21 |  | 168 |  | 19,539 |
Home equity | 11,654 |  | 35 |  | 16 |  | 184 |  | 11,889 |  |  | 11,848 |  | 61 |  | 28 |  | 212 |  | 12,149 |
Automobile | 13,318 |  | 117 |  | 42 |  | 15 |  | 13,492 |  |  | 11,901 |  | 170 |  | 65 |  | 17 |  | 12,153 |
Education | 12,941 |  | 33 |  | 14 |  | 12 |  | 13,000 |  |  | 12,255 |  | 33 |  | 13 |  | 7 |  | 12,308 |
Other retail | 5,371 |  | 39 |  | 28 |  | 31 |  | 5,469 |  |  | 6,047 |  | 38 |  | 29 |  | 34 |  | 6,148 |
Total retail | 64,145 |  | 379 |  | 157 |  | 682 |  | 65,363 |  |  | 61,342 |  | 361 |  | 156 |  | 438 |  | 62,297 |
Total | $121,921 |  | $407 |  | $166 |  | $824 |  | $123,318 |  |  | $121,646 |  | $594 |  | $257 |  | $593 |  | $123,090 |
(1) 90+ days past due includes $289 million and $44 million of loans fully or partially guaranteed by the FHA, VA, and USDA at September 30, 2021 and December 31, 2020, respectively.
Troubled debt restructurings on financing receivables | The following tables summarize loans modified during the three and nine months ended September 30, 2021 and 2020. The balances represent the post-modification outstanding amortized cost basis and may include loans that became TDRs during the period and were subsequently paid off in full, charged off, or sold prior to period end. Pre-modification balances for modified loans approximate the post-modification balances shown.
|  |  | Three Months Ended September 30, 2021
|  |  | Amortized Cost Basis
(dollars in millions) | Number of Contracts |  |  | Interest Rate Reduction(1) | Maturity Extension(2) |  | Other(3) | Total
Commercial and industrial | 7 |  |  |  | $— |  |  |  | $38 |  |  |  | $10 |  |  | $48 |
Total commercial | 7 |  |  |  | — |  |  |  | 38 |  |  |  | 10 |  |  | 48 |
Residential mortgages | 101 |  |  |  | 2 |  |  |  | 7 |  |  |  | 7 |  |  | 16 |
Home equity | 69 |  |  |  | — |  |  |  | 1 |  |  |  | 3 |  |  | 4 |
Automobile | 224 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  | 1 |
Education | 226 |  |  |  | — |  |  |  | — |  |  |  | 8 |  |  | 8 |
Other retail | 549 |  |  |  | 3 |  |  |  | — |  |  |  | 1 |  |  | 4 |
Total retail | 1,169 |  |  |  | 5 |  |  |  | 8 |  |  |  | 20 |  |  | 33 |
Total | 1,176 |  |  |  | $5 |  |  |  | $46 |  |  |  | $30 |  |  | $81 |
|  |  |  | Three Months Ended September 30, 2020
|  |  |  | Amortized Cost Basis
(dollars in millions) | Number of Contracts |  |  | Interest Rate Reduction(1) |  | Maturity Extension(2) |  | Other(3) | Total
Commercial and industrial | 14 |  |  |  | $— |  |  |  | $103 |  |  |  | $1 |  |  | $104 |
Total commercial | 14 |  |  |  | — |  |  |  | 103 |  |  |  | 1 |  |  | 104 |
Residential mortgages | 107 |  |  |  | 9 |  |  |  | 6 |  |  |  | 4 |  |  | 19 |
Home equity | 179 |  |  |  | 2 |  |  |  | 4 |  |  |  | 6 |  |  | 12 |
Automobile | 1,191 |  |  |  | 1 |  |  |  | — |  |  |  | 18 |  |  | 19 |
Education | 140 |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  | 3 |
Other retail | 484 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  | 1 |
Total retail | 2,101 |  |  |  | 13 |  |  |  | 10 |  |  |  | 31 |  |  | 54 |
Total | 2,115 |  |  |  | $13 |  |  |  | $113 |  |  |  | $32 |  |  | $158 |
|  |  |  | Nine Months Ended September 30, 2021
|  |  |  | Amortized Cost Basis
(dollars in millions) | Number of Contracts |  |  | Interest Rate Reduction(1) |  | Maturity Extension(2) |  | Other(3) | Total
Commercial and industrial | 29 |  |  |  | $— |  |  |  | $44 |  |  |  | $64 |  |  | $108 |
Total commercial | 29 |  |  |  | — |  |  |  | 44 |  |  |  | 64 |  |  | 108 |
Residential mortgages | 814 |  |  |  | 14 |  |  |  | 133 |  |  |  | 54 |  |  | 201 |
Home equity | 318 |  |  |  | 3 |  |  |  | 9 |  |  |  | 10 |  |  | 22 |
Automobile | 1,272 |  |  |  | 1 |  |  |  | — |  |  |  | 14 |  |  | 15 |
Education | 638 |  |  |  | — |  |  |  | — |  |  |  | 21 |  |  | 21 |
Other retail | 1,764 |  |  |  | 7 |  |  |  | — |  |  |  | 2 |  |  | 9 |
Total retail | 4,806 |  |  |  | 25 |  |  |  | 142 |  |  |  | 101 |  |  | 268 |
Total | 4,835 |  |  |  | $25 |  |  |  | $186 |  |  |  | $165 |  |  | $376 |
|  |  |  | Nine Months Ended September 30, 2020
|  |  |  | Amortized Cost Basis
(dollars in millions) | Number of Contracts |  |  | Interest Rate Reduction(1) |  | Maturity Extension(2) |  | Other(3) | Total
Commercial and industrial | 52 |  |  |  | $— |  |  |  | $106 |  |  |  | $95 |  |  | $201 |
Total commercial | 52 |  |  |  | — |  |  |  | 106 |  |  |  | 95 |  |  | 201 |
Residential mortgages | 348 |  |  |  | 26 |  |  |  | 27 |  |  |  | 11 |  |  | 64 |
Home equity | 568 |  |  |  | 8 |  |  |  | 8 |  |  |  | 21 |  |  | 37 |
Automobile | 2,368 |  |  |  | 2 |  |  |  | — |  |  |  | 35 |  |  | 37 |
Education | 373 |  |  |  | — |  |  |  | — |  |  |  | 9 |  |  | 9 |
Other retail | 2,167 |  |  |  | 8 |  |  |  | — |  |  |  | 2 |  |  | 10 |
Total retail | 5,824 |  |  |  | 44 |  |  |  | 35 |  |  |  | 78 |  |  | 157 |
Total | 5,876 |  |  |  | $44 |  |  |  | $141 |  |  |  | $173 |  |  | $358 |
(1) Includes modifications that consist of multiple concessions, one of which is an interest rate reduction. (2) Includes modifications that consist of multiple concessions, one of which is a maturity extension (unless one of the other concessions was an interest rate reduction). (3) Includes modifications other than interest rate reductions or maturity extensions, such as lowering scheduled payments for a specified period of time, principal forgiveness, and capitalizing arrearages. Also included are the following: deferrals, trial modifications, certain bankruptcies, loans in forbearance and prepayment plans. Modifications can include the deferral of accrued interest resulting in post-modification balances being higher than pre-modification.
Financing receivable, troubled debt restructuring, default | The following table provides a summary of TDRs that defaulted (became 90 days or more past due) within 12 months of their modification date:
| Three Months Ended September 30, |  |  |  |  |  | Nine Months Ended September 30, |  |  |  |
(dollars in millions) | 2021 |  | 2020 |  |  |  |  |  | 2021 |  | 2020 |  |  |  |
Commercial TDRs | $— |  |  | $14 |  |  |  |  |  |  | $23 |  |  | $53 |  |  |  |  |
Retail TDRs(1) | 37 |  |  | 22 |  |  |  |  |  |  | 66 |  |  | 47 |  |  |  |  |
Total | $37 |  |  | $36 |  |  |  |  |  |  | $89 |  |  | $100 |  |  |  |  |
(1) Includes $34 million and $6 million of loans fully or partially government guaranteed by the FHA, VA, and USDA for the three months ended September 30, 2021 and 2020, respectively and $37 million and $14 million of loans fully or partially government guaranteed by the FHA, VA, and USDA for the nine months ended September 30, 2021 and 2020, respectively.
Financing receivable with contractual features that may increase credit exposure | The following tables present balances of loans with these characteristics:
| September 30, 2021
(in millions) | Residential Mortgages |  |  | Home Equity | Other Retail | Education | Total
High loan-to-value | $179 |  |  |  | $18 |  | $— |  | $— |  | $197 |
Interest-only | 3,317 |  |  |  | — |  | — |  | 1 |  | 3,318 |
Low introductory rate | — |  |  |  | — |  | 156 |  | — |  | 156 |
Multiple characteristics and other | 2 |  |  |  | — |  | — |  | — |  | 2 |
Total | $3,498 |  |  |  | $18 |  | $156 |  | $1 |  | $3,673 |
| December 31, 2020
(in millions) | Residential Mortgages |  |  | Home Equity | Other Retail |  | Total
High loan-to-value | $289 |  |  |  | $64 |  | $— |  |  | $353 |
Interest-only | 2,801 |  |  |  | — |  | — |  |  | 2,801 |
Low introductory rate | — |  |  |  | — |  | 170 |  |  | 170 |
Total | $3,090 |  |  |  | $64 |  | $170 |  |  | $3,324 |

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