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v3.21.1

Asset Quality (Tables) | 3 Months Ended
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Mar. 31, 2021
Credit Loss [Abstract] |
Financing Receivable, Allowance for Credit Loss | The changes in the ALLL by loan category for the periods indicated are as follows: Three months ended March 31, 2021:
in millions | December 31, 2020 | Provision |  | Charge-offs | Recoveries | March 31, 2021
Commercial and Industrial | $ | 678 |  | $ | (17) |  |  | $ | (73) |  | $ | 8 |  | $ | 596 |
Commercial real estate: |  |  |  |  |  |
Real estate — commercial mortgage | 327 |  | (37) |  |  | (35) |  | 1 |  | 256 |
Real estate — construction | 47 |  | (2) |  |  | — |  | — |  | 45 |
Total commercial real estate loans | 374 |  | (39) |  |  | (35) |  | 1 |  | 301 |
Commercial lease financing | 47 |  | (4) |  |  | (4) |  | 1 |  | 40 |
Total commercial loans | 1,099 |  | (60) |  |  | (112) |  | 10 |  | 937 |
Real estate — residential mortgage | 102 |  | (3) |  |  | — |  | 1 |  | 100 |
Home equity loans | 171 |  | (13) |  |  | (2) |  | 1 |  | 157 |
Consumer direct loans | 128 |  | 4 |  |  | (8) |  | 2 |  | 126 |
Credit cards | 87 |  | (3) |  |  | (6) |  | 2 |  | 80 |
Consumer indirect loans | 39 |  | 1 |  |  | (7) |  | 5 |  | 38 |
Total consumer loans | 527 |  | (14) |  |  | (23) |  | 11 |  | 501 |
Total ALLL — continuing operations | 1,626 |  | (74) |  | (a) | (135) |  | 21 |  | 1,438 |
Discontinued operations | 36 |  | (3) |  |  | (1) |  | 1 |  | 33 |
Total ALLL — including discontinued operations | $ | 1,662 |  | $ | (77) |  |  | $ | (136) |  | $ | 22 |  | $ | 1,471 |
(a)Excludes a credit for losses on lending-related commitments of $19 million. Three months ended March 31, 2020:
in millions | Pre-ASC 326 Adoption December 31, 2019 | Impact of ASC 326 Adoption | January 1, 2020 | Provision |  | Charge-offs | Recoveries | March 31, 2020
Commercial and Industrial | $ | 551 |  | $ | (141) |  | $ | 410 |  | $ | 187 |  |  | $ | (60) |  | $ | 5 |  | $ | 542 |
Commercial real estate: |  |  |  |  |  |  |  |
Real estate — commercial mortgage | 143 |  | 16 |  | 159 |  | 50 |  |  | (3) |  | 1 |  | 207 |
Real estate — construction | 22 |  | (7) |  | 15 |  | 10 |  |  | — |  | — |  | 25 |
Total commercial real estate loans | 165 |  | 9 |  | 174 |  | 60 |  |  | (3) |  | 1 |  | 232 |
Commercial lease financing | 35 |  | 8 |  | 43 |  | 3 |  |  | (2) |  | — |  | 44 |
Total commercial loans | 751 |  | (124) |  | 627 |  | 250 |  |  | (65) |  | 6 |  | 818 |
Real estate — residential mortgage | 7 |  | 77 |  | 84 |  | 5 |  |  | — |  | — |  | 89 |
Home equity loans | 31 |  | 147 |  | 178 |  | 8 |  |  | (4) |  | 2 |  | 184 |
Consumer direct loans | 34 |  | 63 |  | 97 |  | 29 |  |  | (12) |  | 2 |  | 116 |
Credit cards | 47 |  | 35 |  | 82 |  | 31 |  |  | (11) |  | 2 |  | 104 |
Consumer indirect loans | 30 |  | 6 |  | 36 |  | 16 |  |  | (9) |  | 5 |  | 48 |
Total consumer loans | 149 |  | 328 |  | 477 |  | 89 |  |  | (36) |  | 11 |  | 541 |
Total ALLL — continuing operations | 900 |  | 204 |  | 1,104 |  | 339 |  | (a) | (101) |  | 17 |  | 1,359 |
Discontinued operations | 10 |  | 31 |  | 41 |  | 3 |  |  | (2) |  | 1 |  | 43 |
Total ALLL — including discontinued operations | $ | 910 |  | $ | 235 |  | $ | 1,145 |  | $ | 342 |  |  | $ | (103) |  | $ | 18 |  | $ | 1,402 |
(a)Excludes a provision for losses on lending-related commitments of $20 million.
Significant Macroeconomic Variables of Loan Portfolios | The following table discloses key macroeconomic variables for each loan portfolio.
Segment | Portfolio | Key Macroeconomic Variables (a)
Commercial | Commercial and industrial | BBB corporate bond rate (spread), GDP, industrial production, and unemployment rate
Commercial real estate | BBB corporate bond rate (spread), property and real estate price indices, and unemployment rate
Commercial lease financing | BBB corporate bond rate (spread), GDP, and unemployment rate
Consumer | Real estate — residential mortgage | GDP, home price index, unemployment rate, and 30 year mortgage rate
Home equity | Home price index, unemployment rate, and 30 year mortgage rate
Consumer direct | Unemployment rate and U.S. household income
Consumer indirect | New vehicle sales and unemployment rate
Credit cards | Unemployment rate and U.S. household income
Discontinued operations | Unemployment rate
(a)Variables include all transformations and interactions with other risk drivers. Additionally, variables may have varying impacts at different points in the economic cycle.
Financing Receivable Credit Quality Indicators | Credit Risk Profile by Creditworthiness Category and Vintage (a)
As of March 31, 2021 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis |
| Amortized Cost Basis by Origination Year and Internal Risk Rating |
in millions | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Total
Commercial and Industrial |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | $ | 2,246 |  | $ | 11,524 |  | $ | 5,062 |  | $ | 3,728 |  | $ | 2,360 |  | $ | 5,560 |  | $ | 18,992 |  | $ | 81 |  | $ | 49,553 |
Criticized (Accruing) | 4 |  | 96 |  | 220 |  | 217 |  | 223 |  | 340 |  | 1,426 |  | 20 |  | 2,546 |
Criticized (Nonaccruing) | — |  | 8 |  | 19 |  | 64 |  | 13 |  | 54 |  | 227 |  | 2 |  | 387 |
Total commercial and industrial | 2,250 |  | 11,628 |  | 5,301 |  | 4,009 |  | 2,596 |  | 5,954 |  | 20,645 |  | 103 |  | 52,486 |
Real estate — commercial mortgage |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | 602 |  | 1,603 |  | 2,916 |  | 1,599 |  | 819 |  | 3,589 |  | 695 |  | 29 |  | 11,852 |
Criticized (Accruing) | — |  | 14 |  | 123 |  | 103 |  | 159 |  | 290 |  | 93 |  | 2 |  | 784 |
Criticized (Nonaccruing) | — |  | — |  | 2 |  | 4 |  | 4 |  | 51 |  | 5 |  | — |  | 66 |
Total real estate — commercial mortgage | 602 |  | 1,617 |  | 3,041 |  | 1,706 |  | 982 |  | 3,930 |  | 793 |  | 31 |  | 12,702 |
Real estate — construction |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | 16 |  | 451 |  | 798 |  | 501 |  | 187 |  | 49 |  | 31 |  | — |  | 2,033 |
Criticized (Accruing) | — |  | 4 |  | 14 |  | 51 |  | 18 |  | 1 |  | 1 |  | — |  | 89 |
Criticized (Nonaccruing) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total real estate — construction | 16 |  | 455 |  | 812 |  | 552 |  | 205 |  | 50 |  | 32 |  | — |  | 2,122 |
Commercial lease financing |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | 152 |  | 952 |  | 931 |  | 462 |  | 416 |  | 1,077 |  | — |  | — |  | 3,990 |
Criticized (Accruing) | — |  | 21 |  | 35 |  | 15 |  | 26 |  | 9 |  | — |  | — |  | 106 |
Criticized (Nonaccruing) | — |  | — |  | 2 |  | 2 |  | 2 |  | 2 |  | — |  | — |  | 8 |
Total commercial lease financing | 152 |  | 973 |  | 968 |  | 479 |  | 444 |  | 1,088 |  |  | — |  | 4,104 |
Total commercial loans | $ | 3,020 |  | $ | 14,673 |  | $ | 10,122 |  | $ | 6,746 |  | $ | 4,227 |  | $ | 11,022 |  | $ | 21,470 |  | $ | 134 |  | $ | 71,414 |
As of December 31, 2020 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
| Amortized Cost Basis by Origination Year and Internal Risk Rating |  |
in millions | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |
Pass | $ | 13,100 |  | $ | 5,487 |  | $ | 4,040 |  | $ | 2,617 |  | $ | 1,967 |  | $ | 2,709 |  | $ | 19,832 |  | $ | 118 |  | $ | 49,870 |  |
Criticized (Accruing) | 66 |  | 198 |  | 174 |  | 236 |  | 150 |  | 279 |  | 1,527 |  | 22 |  | 2,652 |  |
Criticized (Nonaccruing) | 8 |  | 27 |  | 71 |  | 28 |  | 17 |  | 7 |  | 226 |  | 1 |  | 385 |  |
Total commercial and industrial | 13,174 |  | 5,712 |  | 4,285 |  | 2,881 |  | 2,134 |  | 2,995 |  | 21,585 |  | 141 |  | 52,907 |  |
Real estate — commercial mortgage |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |
Pass | 1,591 |  | 2,937 |  | 1,737 |  | 867 |  | 765 |  | 3,027 |  | 885 |  | 43 |  | 11,852 |  |
Criticized (Accruing) | 12 |  | 142 |  | 81 |  | 145 |  | 72 |  | 255 |  | 22 |  | 2 |  | 731 |  |
Criticized (Nonaccruing) | — |  | 1 |  | 4 |  | 4 |  | 2 |  | 88 |  | 5 |  | — |  | 104 |  |
Total real estate — commercial mortgage | 1,603 |  | 3,080 |  | 1,822 |  | 1,016 |  | 839 |  | 3,370 |  | 912 |  | 45 |  | 12,687 |  |
Real estate — construction |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |
Pass | 367 |  | 764 |  | 510 |  | 188 |  | 27 |  | 22 |  | 31 |  | 5 |  | 1,914 |  |
Criticized (Accruing) | — |  | 14 |  | 38 |  | 18 |  | — |  | 2 |  | 1 |  | — |  | 73 |  |
Criticized (Nonaccruing) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  |
Total real estate — construction | 367 |  | 778 |  | 548 |  | 206 |  | 27 |  | 24 |  | 32 |  | 5 |  | 1,987 |  |
Commercial lease financing |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |
Pass | 1,076 |  | 1,050 |  | 534 |  | 504 |  | 228 |  | 901 |  | — |  | — |  | 4,293 |  |
Criticized (Accruing) | 10 |  | 35 |  | 15 |  | 26 |  | 7 |  | 4 |  | — |  | — |  | 97 |  |
Criticized (Nonaccruing) | — |  | 2 |  | 2 |  | 2 |  | 2 |  | 1 |  | — |  | — |  | 9 |  |
Total commercial lease financing | 1,086 |  | 1,087 |  | 551 |  | 532 |  | 237 |  | 906 |  | 0 | — |  | 4,399 |  |
Total commercial loans | $ | 16,230 |  | $ | 10,657 |  | $ | 7,206 |  | $ | 4,635 |  | $ | 3,237 |  | $ | 7,295 |  | $ | 22,529 |  | $ | 191 |  | $ | 71,980 |  |
(a)Accrued interest of $143 million and $140 million as of March 31, 2021 and December 31, 2020, respectively, presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in these tables. Consumer Credit Exposure Credit Risk Profile by FICO Score and Vintage (a)
As of March 31, 2021 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis |
| Amortized Cost Basis by Origination Year and FICO Score |
in millions | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Total
Real estate — residential mortgage |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | $ | 1,684 |  | $ | 3,503 |  | $ | 1,326 |  | $ | 159 |  | $ | 213 |  | $ | 1,525 |  | — |  | — |  | $ | 8,410 |
660 to 749 | 300 |  | 534 |  | 245 |  | 63 |  | 40 |  | 384 |  | — |  | — |  | 1,566 |
Less than 660 | 2 |  | 19 |  | 17 |  | 20 |  | 9 |  | 172 |  | — |  | — |  | 239 |
No Score | 1 |  | 1 |  | 2 |  | 2 |  | 6 |  | 73 |  | — |  | — |  | 85 |
Total real estate — residential mortgage | 1,987 |  | 4,057 |  | 1,590 |  | 244 |  | 268 |  | 2,154 |  | — |  | — |  | 10,300 |
Home equity loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | 407 |  | 943 |  | 367 |  | 151 |  | 182 |  | 926 |  | $ | 2,544 |  | $ | 551 |  | 6,071 |
660 to 749 | 121 |  | 386 |  | 172 |  | 65 |  | 63 |  | 280 |  | 1,132 |  | 186 |  | 2,405 |
Less than 660 | 7 |  | 27 |  | 24 |  | 17 |  | 17 |  | 121 |  | 400 |  | 56 |  | 669 |
No Score | — |  | 2 |  | 2 |  | 1 |  | — |  | 2 |  | 5 |  | 1 |  | 13 |
Total home equity loans | 535 |  | 1,358 |  | 565 |  | 234 |  | 262 |  | 1,329 |  | 4,081 |  | 794 |  | 9,158 |
Consumer direct loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | 499 |  | 1,636 |  | 759 |  | 103 |  | 29 |  | 102 |  | 110 |  | — |  | 3,238 |
660 to 749 | 120 |  | 421 |  | 233 |  | 67 |  | 17 |  | 48 |  | 231 |  | 1 |  | 1,138 |
Less than 660 | 4 |  | 21 |  | 31 |  | 19 |  | 6 |  | 14 |  | 71 |  | — |  | 166 |
No Score | 10 |  | 47 |  | 37 |  | 18 |  | 14 |  | 20 |  | 174 |  | — |  | 320 |
Total consumer direct loans | 633 |  | 2,125 |  | 1,060 |  | 207 |  | 66 |  | 184 |  | 586 |  | 1 |  | 4,862 |
Credit cards |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | — |  | — |  | — |  | — |  | — |  | — |  | 441 |  | — |  | 441 |
660 to 749 | — |  | — |  | — |  | — |  | — |  | — |  | 379 |  | — |  | 379 |
Less than 660 | — |  | — |  | — |  | — |  | — |  | — |  | 88 |  | — |  | 88 |
No Score | — |  | — |  | — |  | — |  | — |  | — |  | 1 |  | — |  | 1 |
Total credit cards | — |  | — |  | — |  | — |  | — |  | — |  | 909 |  | — |  | 909 |
Consumer indirect loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | 135 |  | 880 |  | 851 |  | 329 |  | 158 |  | 105 |  | — |  | — |  | 2,458 |
660 to 749 | — |  | 566 |  | 483 |  | 193 |  | 79 |  | 68 |  | — |  | — |  | 1,389 |
Less than 660 | — |  | 124 |  | 140 |  | 85 |  | 44 |  | 42 |  | — |  | — |  | 435 |
No Score | — |  | — |  | — |  | — |  | — |  | 1 |  | — |  | — |  | 1 |
Total consumer indirect loans | 135 |  | 1,570 |  | 1,474 |  | 607 |  | 281 |  | 216 |  | — |  | — |  | 4,283 |
Total consumer loans | $ | 3,290 |  | $ | 9,110 |  | $ | 4,689 |  | $ | 1,292 |  | $ | 877 |  | $ | 3,883 |  | $ | 5,576 |  | $ | 795 |  | $ | 29,512 |
As of December 31, 2020 | Term Loans | Revolving Loans Amortized Cost Basis | Revolving Loans Converted to Term Loans Amortized Cost Basis |
| Amortized Cost Basis by Origination Year and FICO Score |
in millions | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total
Real estate — residential mortgage |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | $ | 3,595 |  | $ | 1,620 |  | $ | 194 |  | $ | 254 |  | $ | 537 |  | $ | 1,211 |  | — |  | — |  | $ | 7,411 |
660 to 749 | 710 |  | 284 |  | 76 |  | 48 |  | 100 |  | 332 |  | — |  | — |  | 1,550 |
Less than 660 | 16 |  | 28 |  | 21 |  | 10 |  | 26 |  | 170 |  | — |  | — |  | 271 |
No Score | 1 |  | 2 |  | 2 |  | 7 |  | 2 |  | 52 |  | — |  | — |  | 66 |
Total real estate — residential mortgage | 4,322 |  | 1,934 |  | 293 |  | 319 |  | 665 |  | 1,765 |  | — |  | — |  | 9,298 |
Home equity loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | 1,043 |  | 404 |  | 168 |  | 202 |  | 190 |  | 839 |  | $ | 2,689 |  | $ | 590 |  | 6,125 |
660 to 749 | 385 |  | 198 |  | 82 |  | 77 |  | 69 |  | 253 |  | 1,237 |  | 206 |  | 2,507 |
Less than 660 | 27 |  | 30 |  | 18 |  | 20 |  | 20 |  | 113 |  | 426 |  | 61 |  | 715 |
No Score | 2 |  | 2 |  | 1 |  | — |  | — |  | 2 |  | 5 |  | 1 |  | 13 |
Total home equity loans | 1,457 |  | 634 |  | 269 |  | 299 |  | 279 |  | 1,207 |  | 4,357 |  | 858 |  | 9,360 |
Consumer direct loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | 1,840 |  | 883 |  | 115 |  | 32 |  | 16 |  | 57 |  | 119 |  | — |  | 3,062 |
660 to 749 | 479 |  | 268 |  | 80 |  | 22 |  | 14 |  | 33 |  | 254 |  | 1 |  | 1,151 |
Less than 660 | 23 |  | 37 |  | 21 |  | 8 |  | 5 |  | 10 |  | 81 |  | — |  | 185 |
No Score | 65 |  | 35 |  | 21 |  | 21 |  | 10 |  | 11 |  | 153 |  | — |  | 316 |
Total consumer direct loans | 2,407 |  | 1,223 |  | 237 |  | 83 |  | 45 |  | 111 |  | 607 |  | 1 |  | 4,714 |
Credit cards |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | — |  | — |  | — |  | — |  | — |  | — |  | 488 |  | — |  | 488 |
660 to 749 | — |  | — |  | — |  | — |  | — |  | — |  | 407 |  | — |  | 407 |
Less than 660 | — |  | — |  | — |  | — |  | — |  | — |  | 93 |  | — |  | 93 |
No Score | — |  | — |  | — |  | — |  | — |  | — |  | 1 |  | — |  | 1 |
Total credit cards | — |  | — |  | — |  | — |  | — |  | — |  | 989 |  | — |  | 989 |
Consumer indirect loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | 1,092 |  | 924 |  | 369 |  | 188 |  | 69 |  | 66 |  | — |  | — |  | 2,708 |
660 to 749 | 653 |  | 558 |  | 232 |  | 97 |  | 36 |  | 47 |  | — |  | — |  | 1,623 |
Less than 660 | 143 |  | 163 |  | 99 |  | 54 |  | 25 |  | 28 |  | — |  | — |  | 512 |
No Score | 1 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 1 |
Total consumer indirect loans | 1,889 |  | 1,645 |  | 700 |  | 339 |  | 130 |  | 141 |  | — |  | — |  | 4,844 |
Total consumer loans | $ | 10,075 |  | $ | 5,436 |  | $ | 1,499 |  | $ | 1,040 |  | $ | 1,119 |  | $ | 3,224 |  | $ | 5,953 |  | $ | 859 |  | $ | 29,205 |
(a)Accrued interest of $98 million and $101 million as of March 31, 2021 and December 31, 2020, respectively, presented in Other Assets on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table.
Past Due Loans Including Current Loans | The following aging analysis of past due and current loans as of March 31, 2021, and December 31, 2020, provides further information regarding Key’s credit exposure. Aging Analysis of Loan Portfolio(a)
March 31, 2021 | Current | 30-59 Days Past Due (b) | 60-89 Days Past Due (b) | 90 and Greater Days Past Due (b) | Non-performing Loans | Total Past Due and Non-performing Loans | Total Loans (c)
in millions
LOAN TYPE |  |  |  |  |  |  |
Commercial and industrial | $ | 52,000 |  | $ | 42 |  | $ | 16 |  | $ | 41 |  | $ | 387 |  | $ | 486 |  | $ | 52,486 |
Commercial real estate: |  |  |  |  |  |  |
Commercial mortgage | 12,580 |  | 17 |  | 14 |  | 25 |  | 66 |  | 122 |  | 12,702 |
Construction | 2,113 |  | 8 |  | 1 |  | — |  | — |  | 9 |  | 2,122 |
Total commercial real estate loans | 14,693 |  | 25 |  | 15 |  | 25 |  | 66 |  | 131 |  | 14,824 |
Commercial lease financing | 4,088 |  | 7 |  | 1 |  | — |  | 8 |  | 16 |  | 4,104 |
Total commercial loans | $ | 70,781 |  | $ | 74 |  | $ | 32 |  | $ | 66 |  | $ | 461 |  | $ | 633 |  | $ | 71,414 |
Real estate — residential mortgage | $ | 10,190 |  | $ | 9 |  | $ | 4 |  | $ | 2 |  | $ | 95 |  | $ | 110 |  | $ | 10,300 |
Home equity loans | 8,958 |  | 31 |  | 11 |  | 10 |  | 148 |  | 200 |  | 9,158 |
Consumer direct loans | 4,844 |  | 4 |  | 4 |  | 5 |  | 5 |  | 18 |  | 4,862 |
Credit cards | 892 |  | 4 |  | 3 |  | 7 |  | 3 |  | 17 |  | 909 |
Consumer indirect loans | 4,250 |  | 12 |  | 3 |  | 2 |  | 16 |  | 33 |  | 4,283 |
Total consumer loans | $ | 29,134 |  | $ | 60 |  | $ | 25 |  | $ | 26 |  | $ | 267 |  | $ | 378 |  | $ | 29,512 |
Total loans | $ | 99,915 |  | $ | 134 |  | $ | 57 |  | $ | 92 |  | $ | 728 |  | $ | 1,011 |  | $ | 100,926 |
(a)Amounts in table represent amortized cost and exclude loans held for sale. (b)Accrued interest of $242 million presented in Other Assets on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table. (c)Net of unearned income, net of deferred fees and costs, and unamortized discounts and premiums.
December 31, 2020 | Current | 30-59 Days Past Due (b) | 60-89 Days Past Due (b) | 90 and Greater Days Past Due (b) | Non-performing Loans | Total Past Due and Non-performing Loans |  | Total Loans (c)
in millions
LOAN TYPE |  |  |  |  |  |  |  |
Commercial and industrial | $ | 52,396 |  | $ | 36 |  | $ | 50 |  | $ | 40 |  | $ | 385 |  | $ | 511 |  |  | $ | 52,907 |
Commercial real estate: |  |  |  |  |  |  |  |
Commercial mortgage | 12,548 |  | 9 |  | 5 |  | 21 |  | 104 |  | 139 |  |  | 12,687 |
Construction | 1,986 |  | — |  | — |  | 1 |  | — |  | 1 |  |  | 1,987 |
Total commercial real estate loans | 14,534 |  | 9 |  | 5 |  | 22 |  | 104 |  | 140 |  |  | 14,674 |
Commercial lease financing | 4,369 |  | 21 |  | 1 |  | — |  | 8 |  | 30 |  |  | 4,399 |
Total commercial loans | $ | 71,299 |  | $ | 66 |  | $ | 56 |  | $ | 62 |  | $ | 497 |  | $ | 681 |  |  | $ | 71,980 |
Real estate — residential mortgage | $ | 9,173 |  | $ | 11 |  | $ | 3 |  | $ | 1 |  | $ | 110 |  | $ | 125 |  |  | $ | 9,298 |
Home equity loans | 9,143 |  | 34 |  | 20 |  | 9 |  | 154 |  | 217 |  |  | 9,360 |
Consumer direct loans | 4,694 |  | 7 |  | 4 |  | 4 |  | 5 |  | 20 |  |  | 4,714 |
Credit cards | 972 |  | 5 |  | 3 |  | 7 |  | 2 |  | 17 |  |  | 989 |
Consumer indirect loans | 4,792 |  | 25 |  | 7 |  | 3 |  | 17 |  | 52 |  |  | 4,844 |
Total consumer loans | $ | 28,774 |  | $ | 82 |  | $ | 37 |  | $ | 24 |  | $ | 288 |  | $ | 431 |  |  | $ | 29,205 |
Total loans | $ | 100,073 |  | $ | 148 |  | $ | 93 |  | $ | 86 |  | $ | 785 |  | $ | 1,112 |  |  | $ | 101,185 |
(a)Amounts in table represent amortized cost and exclude loans held for sale. (b)Accrued interest of $241 million presented in Other Assets on the Consolidated Balance Sheets is excluded from the amortized cost basis disclosed in this table. (c)Net of unearned income, net of deferred fees and costs, and unamortized discounts and premiums.
Post-Modification Outstanding Recorded Investment by Concession Type for Our Commercial Accruing and Nonaccruing TDRs | The following table shows the post-modification outstanding recorded investment by concession type for our commercial and consumer accruing and nonaccruing TDRs that occurred during the periods indicated:
| Three Months Ended March 31, |  |
in millions | 2021 | 2020 |  |  |
Commercial loans: |  |  |  |  |
Extension of Maturity Date | 41 |  | $ | — |  |  |  |
Payment or Covenant Modification/Deferment | 10 |  | — |  |  |  |
Total | 51 |  | $ | — |  |  |  |
Consumer loans: |  |  |  |  |
Interest rate reduction | $ | 2 |  | $ | 9 |  |  |  |
Other | 4 |  | 9 |  |  |  |
Total | $ | 6 |  | $ | 18 |  |  |  |
Total TDRs | $ | 57 |  | $ | 18 |  |  |  |
Summary Of Post-Modification Outstanding Recorded Investment, Accruing And Nonaccruing TDRs | The following table summarizes the change in the post-modification outstanding recorded investment of our accruing and nonaccruing TDRs during the periods indicated:
| Three Months Ended March 31, |
in millions | 2021 | 2020 |  |
Balance at beginning of the period | $ | 363 |  | $ | 347 |  |  |
Additions | 59 |  | 17 |  |  |
Payments | (21) |  | (18) |  |  |
Charge-offs | (25) |  | (6) |  |  |
Balance at end of period | $ | 376 |  | $ | 340 |  |  |
Breakdown of Nonperforming TDRs by Loans Category | A further breakdown of TDRs included in nonperforming loans by loan category for the periods indicated are as follows:
| March 31, 2021 |  | December 31, 2020
| Number of Loans | Pre-modification Outstanding Recorded Investment | Post-modification Outstanding Recorded Investment |  | Number of Loans | Pre-modification Outstanding Recorded Investment | Post-modification Outstanding Recorded Investment
dollars in millions
LOAN TYPE |  |  |  |  |  |  |
Nonperforming: |  |  |  |  |  |  |
Commercial and industrial | 57 |  | $ | 128 |  | $ | 87 |  |  | 66 |  | $ | 136 |  | $ | 92 |
Commercial real estate: |  |  |  |  |  |  |
Commercial mortgage | 5 |  | 62 |  | 34 |  |  | 7 |  | 62 |  | 50 |
Total commercial real estate loans | 5 |  | 62 |  | 34 |  |  | 7 |  | 62 |  | 50 |
Total commercial loans | 62 |  | 190 |  | 121 |  |  | 73 |  | 198 |  | 142 |
Real estate — residential mortgage | 206 |  | 25 |  | 24 |  |  | 258 |  | 35 |  | 34 |
Home equity loans | 564 |  | 35 |  | 32 |  |  | 630 |  | 41 |  | 37 |
Consumer direct loans | 203 |  | 4 |  | 3 |  |  | 212 |  | 3 |  | 3 |
Credit cards | 265 |  | 2 |  | 2 |  |  | 356 |  | 2 |  | 2 |
Consumer indirect loans | 776 |  | 14 |  | 10 |  |  | 861 |  | 15 |  | 11 |
Total consumer loans | 2,014 |  | 80 |  | 71 |  |  | 2,317 |  | 96 |  | 87 |
Total nonperforming TDRs | 2,076 |  | 270 |  | 192 |  |  | 2,390 |  | 294 |  | 229 |
Prior-year accruing:(a) |  |  |  |  |  |  |
Commercial and industrial | 12 |  | 43 |  | 41 |  |  | 3 |  | 5 |  | — |
Commercial real estate |  |  |  |  |  |  |
Commercial mortgage | — |  | — |  | — |  |  | — |  | — |  | — |
Total commercial real estate loans | — |  | — |  | — |  |  | — |  | — |  | — |
Total commercial loans | 12 |  | 43 |  | 41 |  |  | 3 |  | 5 |  | — |
Real estate — residential mortgage | 513 |  | 44 |  | 39 |  |  | 485 |  | 37 |  | 31 |
Home equity loans | 1,779 |  | 107 |  | 84 |  |  | 1,781 |  | 106 |  | 83 |
Consumer direct loans | 202 |  | 5 |  | 3 |  |  | 163 |  | 4 |  | 3 |
Credit cards | 638 |  | 4 |  | 2 |  |  | 536 |  | 3 |  | 1 |
Consumer indirect loans | 787 |  | 28 |  | 15 |  |  | 775 |  | 29 |  | 16 |
Total consumer loans | 3,919 |  | 188 |  | 143 |  |  | 3,740 |  | 179 |  | 134 |
Total prior-year accruing TDRs | 3,931 |  | 231 |  | 184 |  |  | 3,743 |  | 184 |  | 134 |
Total TDRs | 6,007 |  | $ | 501 |  | $ | 376 |  |  | 6,133 |  | $ | 478 |  | $ | 363 |
(a)All TDRs that were restructured prior to January 1, 2021, and January 1, 2020, and are fully accruing.
Changes in Liability for Credit Losses on Off-Balance Sheet Exposures | Changes in the liability for credit losses on off balance sheet exposures are summarized as follows:
| Three months ended March 31, |
in millions | 2021 | 2020 |  |
Balance at the end of the prior period | $ | 197 |  | $ | 68 |  |  |
Liability for credit losses on contingent guarantees at the end of the prior period | — |  | 7 |  |  |
Cumulative effect from change in accounting principle (a), (b) | — |  | 66 |  |  |
Balance at beginning of period | 197 |  | 141 |  |  |
Provision (credit) for losses on off balance sheet exposures | (19) |  | 20 |  |  |
Balance at end of period | $ | 178 |  | $ | 161 |  |  |
(a)The cumulative effect from change in accounting principle relates to the January 1, 2020, adoption of ASU 2016-13. (b)The three months ended March 31, 2020, amount exclud es $4 million related to the provision for other financial assets.

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