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Allowance for Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2022
Receivables [Abstract] |
Schedule of Allowance for Credit Losses | The ACL activity for loans and leases and the ACL for unfunded commitments is summarized in the following tables. ACL for Loans and Leases
| Three Months Ended June 30, 2022 |  | Six Months Ended June 30, 2022
dollars in millions | Commercial |  | Consumer |  | Total |  | Commercial |  | Consumer |  | Total
Balance at beginning of period | $ | 743 |  |  | $ | 105 |  |  | $ | 848 |  |  | $ | 80 |  |  | $ | 98 |  |  | $ | 178 |
Initial PCD ACL(1) | (12) |  |  | — |  |  | (12) |  |  | 258 |  |  | 14 |  |  | 272 |
Initial Non-PCD Provision | — |  |  | — |  |  | — |  |  | 432 |  |  | 22 |  |  | 454 |
Provision (benefit) for credit losses - loans and leases | 33 |  |  | 3 |  |  | 36 |  |  | 10 |  |  | (27) |  |  | (17) |
Total provision (benefit) for credit losses- loans and leases | 33 |  |  | 3 |  |  | 36 |  |  | 442 |  |  | (5) |  |  | 437 |
Charge-offs(1) | (36) |  |  | (5) |  |  | (41) |  |  | (64) |  |  | (10) |  |  | (74) |
Recoveries | 12 |  |  | 7 |  |  | 19 |  |  | 24 |  |  | 13 |  |  | 37 |
Balance at June 30, 2022 | $ | 740 |  |  | $ | 110 |  |  | $ | 850 |  |  | $ | 740 |  |  | $ | 110 |  |  | $ | 850 |
| Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021
| Commercial |  | Consumer |  | Total |  | Commercial |  | Consumer |  | Total
Balance at beginning of period | $ | 86 |  |  | $ | 124 |  |  | $ | 210 |  |  | $ | 92 |  |  | $ | 133 |  |  | $ | 225 |
Provision (benefit) for credit losses - loans and leases | 1 |  |  | (20) |  |  | (19) |  |  | (3) |  |  | (28) |  |  | (31) |
Charge-offs | (3) |  |  | (4) |  |  | (7) |  |  | (7) |  |  | (9) |  |  | (16) |
Recoveries | 2 |  |  | 3 |  |  | 5 |  |  | 4 |  |  | 7 |  |  | 11 |
Balance at June 30, 2021 | $ | 86 |  |  | $ | 103 |  |  | $ | 189 |  |  | $ | 86 |  |  | $ | 103 |  |  | $ | 189 |
(1) The Initial PCD ACL related to the CIT Merger was $272 million, net of an additional $243 million for loans that CIT charged-off prior to the Merger Date (whether full or partial) which met BancShares’ charge-off policy at the Merger Date. The $12 million reflects second quarter adjustment to the original amount recorded on the Merger Date, with an equal adjustment to the UPB of PCD loans. There was no income statement impact or adjustment to the purchase price. ACL for Unfunded Commitments
| Three Months Ended June 30, |  | Six Months Ended June 30,
dollars in millions | 2022 |  | 2021 |  | 2022 |  | 2021
Beginning balance | $ | 75 |  |  | $ | 12 |  |  | $ | 12 |  |  | $ | 13 |
Provision (benefit) for credit losses - unfunded commitments | 6 |  |  | (1) |  |  | 69 |  |  | (2) |
Ending balance | $ | 81 |  |  | $ | 11 |  |  | $ | 81 |  |  | $ | 11 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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