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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net income $ 1,789 $ 601
Adjustments to reconcile net income to net change in cash due to operating activities:    
Provision for credit losses (386) 1,492
Net change in loans held for sale 623 (655)
Depreciation, amortization and accretion 453 419
Deferred income taxes 214 (251)
Share-based compensation 47 34
Debt securities (9) (4)
Premises and equipment (1) 0
Net (increase) decrease in other assets (2,393) (2,960)
Net increase (decrease) in other liabilities 833 569
Net change due to operating activities 1,170 (755)
Investment securities:    
Purchases of debt securities available for sale (8,669) (5,547)
Proceeds from maturities and paydowns of debt securities available for sale 6,059 4,583
Proceeds from sales of debt securities available for sale 158 48
Proceeds from maturities and paydowns of debt securities held to maturity 752 629
Net (increase) decrease in interest-bearing deposits in banks 17 (31)
Acquisitions, net of cash acquired (14) (3)
Net (increase) decrease in loans and leases (384) (5,303)
Capital expenditures, net (59) 1
Purchase of bank-owned life insurance (650) 0
Other (197) 124
Net change due to investing activities (2,987) (5,499)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits 5,057 17,608
Net increase (decrease) in short-term borrowed funds (240) (43)
Proceeds from issuance of long-term borrowed funds 0 8,323
Repayments of long-term borrowed funds (1,356) (13,258)
Treasury stock purchased (95) (270)
Net proceeds from issuance of preferred stock 296 395
Redemption of preferred stock (250) 0
Dividends paid to common stockholders (502) (504)
Dividends paid to preferred stockholders (88) (73)
Premium paid to exchange subordinated debt (1) (80)
Payments of employee tax withholding for share-based compensation (21) (14)
Net change due to financing activities 2,800 12,084
Net change in cash and cash equivalents [1] 983 5,830
Cash and cash equivalents at beginning of period [1] 12,733 3,386
Cash and cash equivalents at end of period [1] $ 13,716 $ 9,216
[1] Cash and cash equivalents includes cash and due from banks and interest-bearing cash and due from banks as reflected in the Consolidated Balance Sheets.