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Asset Quality (Tables) | 12 Months Ended
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Dec. 31, 2023
Credit Loss [Abstract] |
Schedule of Changes in Allowance for Loan and Lease Losses by Loan Category | The changes in the ALLL by loan category for the periods indicated are as follows: Twelve Months Ended December 31, 2023:
Dollars in millions |  |  | December 31, 2022 | Provision |  | Charge-offs | Recoveries | December 31, 2023 |  |
Commercial and Industrial |  |  | $ | 601 |  | $ | 99 |  |  | $ | (188) |  | $ | 44 |  | $ | 556 |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |
Real estate — commercial mortgage |  |  | 203 |  | 253 |  |  | (39) |  | 2 |  | 419 |  |  |
Real estate — construction |  |  | 28 |  | 23 |  |  | — |  | 1 |  | 52 |  |  |
Total commercial real estate loans |  |  | 231 |  | 276 |  |  | (39) |  | 3 |  | 471 |  |  |
Commercial lease financing |  |  | 32 |  | (4) |  |  | — |  | 5 |  | 33 |  |  |
Total commercial loans |  |  | 864 |  | 371 |  |  | (227) |  | 52 |  | 1,060 |  |  |
Real estate — residential mortgage |  |  | 196 |  | (37) |  |  | (1) |  | 4 |  | 162 |  |  |
Home equity loans |  |  | 98 |  | (13) |  |  | (2) |  | 3 |  | 86 |  |  |
Consumer direct loans |  |  | 111 |  | 53 |  |  | (50) |  | 7 |  | 121 |  |  |
Credit cards |  |  | 66 |  | 42 |  |  | (37) |  | 7 |  | 78 |  |  |
Consumer indirect loans |  |  | 2 |  | (1) |  |  | (1) |  | 1 |  | 1 |  |  |
Total consumer loans |  |  | 473 |  | 44 |  |  | (91) |  | 22 |  | 448 |  |  |
Total ALLL — continuing operations |  |  | 1,337 |  | 415 |  | (a) | (318) |  | 74 |  | 1,508 |  |  |
Discontinued operations |  |  | 21 |  | (2) |  |  | (4) |  | 1 |  | 16 |  |  |
Total ALLL — including discontinued operations |  |  | $ | 1,358 |  | $ | 413 |  |  | $ | (322) |  | $ | 75 |  | $ | 1,524 |  |  |
(a)Excludes a provision related to reserves on lending-related commit ments of $74 million. Twelve Months Ended December 31, 2022:
Dollars in millions | December 31, 2021 | Provision |  |  | Charge-offs | Recoveries | December 31, 2022
Commercial and Industrial | $ | 445 |  | $ | 259 |  |  |  | $ | (153) |  | $ | 50 |  | $ | 601 |
Commercial real estate: |  |  |  |  |  |  |
Real estate — commercial mortgage | 182 |  | 39 |  |  |  | (23) |  | 5 |  | 203 |
Real estate — construction | 29 |  | (2) |  |  |  | — |  | 1 |  | 28 |
Total commercial real estate loans | 211 |  | 37 |  |  |  | (23) |  | 6 |  | 231 |
Commercial lease financing | 32 |  | (2) |  |  |  | (2) |  | 4 |  | 32 |
Total commercial loans | 688 |  | 294 |  |  |  | (178) |  | 60 |  | 864 |
Real estate — residential mortgage | 95 |  | 94 |  |  |  | 2 |  | 5 |  | 196 |
Home equity loans | 110 |  | (14) |  |  |  | (1) |  | 3 |  | 98 |
Consumer direct loans | 105 |  | 32 |  |  |  | (34) |  | 8 |  | 111 |
Credit cards | 61 |  | 29 |  |  |  | (30) |  | 6 |  | 66 |
Consumer indirect loans | 2 |  | 2 |  |  |  | (4) |  | 2 |  | 2 |
Total consumer loans | 373 |  | 143 |  |  |  | (67) |  | 24 |  | 473 |
Total ALLL — continuing operations | 1,061 |  | 437 |  |  | (a) | (245) |  | 84 |  | 1,337 |
Discontinued operations | 28 |  | (3) |  |  |  | (6) |  | 2 |  | 21 |
Total ALLL — including discontinued operations | $ | 1,089 |  | $ | 434 |  |  |  | $ | (251) |  | $ | 86 |  | $ | 1,358 |
(a)Excludes a provision related to reserves on lending-related commitments of $65 million. Twelve Months Ended December 31, 2021
Dollars in millions | December 31, 2020 |  |  | Provision |  | Charge-offs | Recoveries | December 31, 2021
Commercial and industrial | $ | 678 |  |  |  | $ | (142) |  |  | $ | (174) |  | $ | 83 |  | $ | 445 |
Commercial real estate: |  |  |  |  |  |  |  |
Real estate — commercial mortgage | 327 |  |  |  | (114) |  |  | (40) |  | 9 |  | 182 |
Real estate — construction | 47 |  |  |  | (18) |  |  | — |  | — |  | 29 |
Total commercial real estate loans | 374 |  |  |  | (132) |  |  | (40) |  | 9 |  | 211 |
Commercial lease financing | 47 |  |  |  | (16) |  |  | (6) |  | 7 |  | 32 |
Total commercial loans | 1,099 |  |  |  | (290) |  |  | (220) |  | 99 |  | 688 |
Real estate — residential mortgage | 102 |  |  |  | (12) |  |  | 2 |  | 3 |  | 95 |
Home equity loans | 171 |  |  |  | (57) |  |  | (9) |  | 5 |  | 110 |
Consumer direct loans | 128 |  |  |  | (2) |  |  | (29) |  | 8 |  | 105 |
Credit cards | 87 |  |  |  | (7) |  |  | (27) |  | 8 |  | 61 |
Consumer indirect loans | 39 |  |  |  | (13) |  |  | (39) |  | 15 |  | 2 |
Total consumer loans | 527 |  |  |  | (91) |  |  | (102) |  | 39 |  | 373 |
Total ALLL — continuing operations | 1,626 |  |  |  | (381) |  | (a) | (322) |  | 138 |  | 1,061 |
Discontinued operations | 36 |  |  |  | (6) |  |  | (4) |  | 2 |  | 28 |
Total ALLL — including discontinued operations | $ | 1,662 |  |  |  | $ | (387) |  |  | $ | (326) |  | $ | 140 |  | $ | 1,089 |
(a)Excludes a credit related to reserves on lending-related commitments of $37 million.
Schedule of 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), fixed investment, business bankruptcies, GDP, industrial production, and unemployment rate, Producer Price Index
Commercial real estate | Property & real estate price indices, unemployment rate, business bankruptcies, GDP, SOFR
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 | 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.
Schedule of Commercial and Consumer Credit Exposure | Credit Risk Profile by Creditworthiness Category and Vintage (a)
As of December 31, 2023 | 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 |
Dollars in millions | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Total
Commercial and Industrial |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | $ | 4,020 |  | $ | 10,145 |  | $ | 6,141 |  | $ | 2,539 |  | $ | 2,064 |  | $ | 3,534 |  | $ | 24,395 |  | $ | 123 |  | $ | 52,961 |
Criticized (Accruing) | 84 |  | 361 |  | 427 |  | 233 |  | 127 |  | 170 |  | 1,140 |  | 15 |  | 2,557 |
Criticized (Nonaccruing) | 14 |  | 49 |  | 50 |  | 2 |  | 28 |  | 70 |  | 84 |  | — |  | 297 |
Total commercial and industrial | 4,118 |  | 10,555 |  | 6,618 |  | 2,774 |  | 2,219 |  | 3,774 |  | 25,619 |  | 138 |  | 55,815 |
Current period gross write-offs | 1 |  | 7 | 35 | 8 | 11 | 21 | 105 | — |  | 188 |
Real estate — commercial mortgage |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | 1,084 |  | 3,664 |  | 2,922 |  | 804 |  | 1,545 |  | 2,507 |  | 1,017 |  | 66 |  | 13,609 |
Criticized (Accruing) | 6 |  | 646 |  | 411 |  | 15 |  | 186 |  | 193 |  | 20 |  | 1 |  | 1,478 |
Criticized (Nonaccruing) | — |  | — |  | 1 |  | 3 |  | 7 |  | 55 |  | 34 |  | — |  | 100 |
Total real estate — commercial mortgage | 1,090 |  | 4,310 |  | 3,334 |  | 822 |  | 1,738 |  | 2,755 |  | 1,071 |  | 67 |  | 15,187 |
Current period gross write-offs | — |  | 1 | 1 | 11 | 2 | 21 | 3 | — |  | 39 |
Real estate — construction |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | 401 |  | 1,185 |  | 912 |  | 157 |  | 62 |  | 48 |  | 31 |  | 8 |  | 2,804 |
Criticized (Accruing) | 10 |  | 40 |  | 60 |  | 64 |  | 41 |  | 47 |  | — |  | — |  | 262 |
Criticized (Nonaccruing) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total real estate — construction | 411 |  | 1,225 |  | 972 |  | 221 |  | 103 |  | 95 |  | 31 |  | 8 |  | 3,066 |
Current period gross write-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Commercial lease financing |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |
Pass | 520 |  | 878 |  | 575 |  | 352 |  | 307 |  | 808 |  | — |  | — |  | 3,440 |
Criticized (Accruing) | 11 |  | 30 |  | 9 |  | 9 |  | 8 |  | 16 |  | — |  | — |  | 83 |
Criticized (Nonaccruing) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total commercial lease financing | 531 |  | 908 |  | 584 |  | 361 |  | 315 |  | 824 |  | — |  | — |  | 3,523 |
Current period gross write-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total commercial loans | $ | 6,150 |  | $ | 16,998 |  | $ | 11,508 |  | $ | 4,178 |  | $ | 4,375 |  | $ | 7,448 |  | $ | 26,721 |  | $ | 213 |  | $ | 77,591 |
Total commercial loan current period gross write-offs | $ | 1 |  | $ | 8 |  | $ | 36 |  | $ | 19 |  | $ | 13 |  | $ | 42 |  | $ | 108 |  | $ | — |  | $ | 227 |
(a)Accrued in terest of $383 million, presente d in “Accrued income and other assets” on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table. Consumer Credit Exposure Credit Risk Profile by FICO Score and Vintage (a)
As of December 31, 2023 | 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 |
Dollars in millions | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Total
Real estate — residential mortgage |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | $ | 680 |  | $ | 5,992 |  | $ | 7,785 |  | $ | 2,392 |  | $ | 586 |  | $ | 923 |  | $ | — |  | $ | — |  | $ | 18,358 |
660 to 749 | 180 |  | 739 |  | 780 |  | 248 |  | 90 |  | 240 |  | — |  | — |  | 2,277 |
Less than 660 | 15 |  | 58 |  | 56 |  | 22 |  | 17 |  | 130 |  | — |  | — |  | 298 |
No Score | 2 |  | 1 |  | 1 |  | 1 |  | — |  | 18 |  | 2 |  | — |  | 25 |
Total real estate — residential mortgage | 877 |  | 6,790 |  | 8,622 |  | 2,663 |  | 693 |  | 1,311 |  | 2 |  | — |  | 20,958 |
Current period gross write-offs | — |  | — |  | — |  | — |  | — |  | 1 |  | — |  | — |  | 1 |
Home equity loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | — |  | 85 |  | 1,575 |  | 435 |  | 114 |  | 378 |  | 2,034 |  | 331 |  | 4,952 |
660 to 749 | 24 |  | 65 |  | 229 |  | 152 |  | 66 |  | 164 |  | 886 |  | 107 |  | 1,693 |
Less than 660 | 3 |  | 13 |  | 38 |  | 27 |  | 17 |  | 77 |  | 281 |  | 31 |  | 487 |
No Score | 2 |  | — |  | — |  | — |  | — |  | 1 |  | 4 |  | — |  | 7 |
Total home equity loans | 29 |  | 163 |  | 1,842 |  | 614 |  | 197 |  | 620 |  | 3,205 |  | 469 |  | 7,139 |
Current period gross write-offs | (1) |  | — |  | — |  | — |  | — |  | 2 |  | — |  | 1 |  | 2 |
Consumer direct loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | 185 |  | 1,187 |  | 1,457 |  | 660 |  | 277 |  | 98 |  | 97 |  | — |  | 3,961 |
660 to 749 | 150 |  | 365 |  | 342 |  | 171 |  | 83 |  | 50 |  | 199 |  | — |  | 1,360 |
Less than 660 | 24 |  | 64 |  | 65 |  | 32 |  | 17 |  | 12 |  | 57 |  | — |  | 271 |
No Score | 30 |  | 33 |  | 17 |  | 11 |  | 10 |  | 12 |  | 185 |  | — |  | 298 |
Total consumer direct loans | 389 |  | 1,649 |  | 1,881 |  | 874 |  | 387 |  | 172 |  | 538 |  | — |  | 5,890 |
Current period gross write-offs | 1 |  | 12 |  | 10 |  | 6 |  | 5 |  | 2 |  | 14 |  | — |  | 50 |
Credit cards |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | — |  | — |  | — |  | — |  | — |  | — |  | 489 |  | — |  | 489 |
660 to 749 | — |  | — |  | — |  | — |  | — |  | — |  | 400 |  | — |  | 400 |
Less than 660 | — |  | — |  | — |  | — |  | — |  | — |  | 112 |  | — |  | 112 |
No Score | — |  | — |  | — |  | — |  | — |  | — |  | 1 |  | — |  | 1 |
Total credit cards | — |  | — |  | — |  | — |  | — |  | — |  | 1,002 |  | — |  | 1,002 |
Current period gross write-offs | — |  | — |  | — |  | — |  | — |  | — |  | 37 |  | — |  | 37 |
Consumer indirect loans |  |  |  |  |  |  |  |  |
FICO Score: |  |  |  |  |  |  |  |  |
750 and above | — |  | — |  | (2) |  | — |  | — |  | 14 |  | — |  | — |  | 12 |
660 to 749 | — |  | — |  | — |  | — |  | — |  | 10 |  | — |  | — |  | 10 |
Less than 660 | — |  | — |  | — |  | — |  | — |  | 4 |  | — |  | — |  | 4 |
No Score | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total consumer indirect loans | — |  | — |  | (2) |  | — |  | — |  | 28 |  | — |  | — |  | 26 |
Current period gross write-offs | — |  | — |  | — |  | — |  | — |  | 1 |  | — |  | — |  | 1 |
Total consumer loans | $ | 1,295 |  | $ | 8,602 |  | $ | 12,343 |  | $ | 4,151 |  | $ | 1,277 |  | $ | 2,131 |  | $ | 4,747 |  | $ | 469 |  | $ | 35,015 |
Total consumer loan current period gross write-offs | $ | — |  | $ | 12 |  | $ | 10 |  | $ | 6 |  | $ | 5 |  | $ | 6 |  | $ | 51 |  | $ | 1 |  | $ | 91 |
(a)Accrued inte rest of $139 million, p resented in “Accrued income and other assets” on the Consolidated Balance Sheets, was excluded from the amortized cost basis disclosed in this table.
Schedule of Aging Analysis of Past Due and Current Loans | The following aging analysis of past due and current loans as of December 31, 2023, and December 31, 2022, provides further information regarding Key’s credit exposure. Aging Analysis of Loan Portfolio(a)
December 31, 2023 | 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)
Dollars in millions
LOAN TYPE |  |  |  |  |  |  |
Commercial and industrial | $ | 55,354 |  | $ | 62 |  | $ | 30 |  | $ | 72 |  | $ | 297 |  | $ | 461 |  | $ | 55,815 |
Commercial real estate: |  |  |  |  |  |  |
Commercial mortgage | 15,049 |  | 25 |  | 3 |  | 10 |  | 100 |  | 138 |  | 15,187 |
Construction | 3,065 |  | 1 |  | — |  | — |  | — |  | 1 |  | 3,066 |
Total commercial real estate loans | 18,114 |  | 26 |  | 3 |  | 10 |  | 100 |  | 139 |  | 18,253 |
Commercial lease financing | 3,520 |  | 2 |  | 1 |  | — |  | — |  | 3 |  | 3,523 |
Total commercial loans | $ | 76,988 |  | $ | 90 |  | $ | 34 |  | $ | 82 |  | $ | 397 |  | $ | 603 |  | $ | 77,591 |
Real estate — residential mortgage | $ | 20,863 |  | $ | 17 |  | $ | 7 |  | $ | — |  | $ | 71 |  | $ | 95 |  | $ | 20,958 |
Home equity loans | 7,001 |  | 27 |  | 10 |  | 4 |  | 97 |  | 138 |  | 7,139 |
Consumer direct loans | 5,853 |  | 15 |  | 10 |  | 9 |  | 3 |  | 37 |  | 5,890 |
Credit cards | 974 |  | 6 |  | 5 |  | 12 |  | 5 |  | 28 |  | 1,002 |
Consumer indirect loans | 24 |  | 1 |  | — |  | — |  | 1 |  | 2 |  | 26 |
Total consumer loans | $ | 34,715 |  | $ | 66 |  | $ | 32 |  | $ | 25 |  | $ | 177 |  | $ | 300 |  | $ | 35,015 |
Total loans | $ | 111,703 |  | $ | 156 |  | $ | 66 |  | $ | 107 |  | $ | 574 |  | $ | 903 |  | $ | 112,606 |
(a)Amounts in table represent amortized cost and exclude loans held for sale. (b)Accrued interest of $522 million pre sented in “Accrued income and 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, 2022 | 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)
Dollars in millions
LOAN TYPE |  |  |  |  |  |  |  |
Commercial and industrial | $ | 59,366 |  | $ | 43 |  | $ | 33 |  | $ | 31 |  | $ | 174 |  | $ | 281 |  |  | $ | 59,647 |
Commercial real estate: |  |  |  |  |  |  |  |
Commercial mortgage | 16,305 |  | 16 |  | 2 |  | 8 |  | 21 |  | 47 |  |  | 16,352 |
Construction | 2,530 |  | — |  | — |  | — |  | — |  | — |  |  | 2,530 |
Total commercial real estate loans | 18,835 |  | 16 |  | 2 |  | 8 |  | 21 |  | 47 |  |  | 18,882 |
Commercial lease financing | 3,928 |  | 3 |  | 1 |  | 3 |  | 1 |  | 8 |  |  | 3,936 |
Total commercial loans | $ | 82,129 |  | $ | 62 |  | $ | 36 |  | $ | 42 |  | $ | 196 |  | $ | 336 |  |  | $ | 82,465 |
Real estate — residential mortgage | $ | 21,307 |  | $ | 13 |  | $ | 3 |  | $ | 1 |  | $ | 77 |  | $ | 94 |  |  | $ | 21,401 |
Home equity loans | 7,804 |  | 27 |  | 8 |  | 5 |  | 107 |  | 147 |  |  | 7,951 |
Consumer direct loans | 6,478 |  | 15 |  | 7 |  | 5 |  | 3 |  | 30 |  |  | 6,508 |
Credit cards | 1,007 |  | 5 |  | 4 |  | 7 |  | 3 |  | 19 |  |  | 1,026 |
Consumer indirect loans | 42 |  | — |  | — |  | — |  | 1 |  | 1 |  |  | 43 |
Total consumer loans | $ | 36,638 |  | $ | 60 |  | $ | 22 |  | $ | 18 |  | $ | 191 |  | $ | 291 |  |  | $ | 36,929 |
Total loans | $ | 118,767 |  | $ | 122 |  | $ | 58 |  | $ | 60 |  | $ | 387 |  | $ | 627 |  |  | $ | 119,394 |
(a)Amounts in table represent amortized cost and exclude loans held for sale. (b)Accrued intere st of $417 million prese nted in “Accrued income and 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.
Schedule of Modified Financing Receivables |
As of December 31, 2023 | Interest Rate Reduction | Term Extension | Other | Combination(b) | Total
Dollars in millions | Amortized Cost Basis |  | Amortized Cost Basis |  | Amortized Cost Basis |  | Amortized Cost Basis |  | Amortized Cost Basis | % of Total Loan Type
LOAN TYPE |  |  |  |  |  |  |  |  |  |
Commercial and Industrial | $ | — |  |  | $ | 180 |  |  | $ | 49 |  |  | $ | 34 |  |  | $ | 263 |  | 0.47 | %
Commercial real estate: |  |  |  |  |  |  |  |  |  |
Commercial mortgage | — |  |  | 4 |  |  | 2 |  |  | — |  |  | 6 |  | 0.04 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |
Total commercial real estate loans | — |  |  | 4 |  |  | 2 |  |  | — |  |  | 6 |  | 0.03 |
Commercial lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |
Total commercial loans | $ | — |  |  | $ | 184 |  |  | $ | 51 |  |  | $ | 34 |  |  | $ | 269 |  | 0.35 | %
Real estate — residential mortgage | — |  |  | — |  |  | 1 |  |  | 9 |  |  | 10 |  | 0.05 |
Home equity loans | 2 |  |  | 1 |  |  | 1 |  |  | 5 |  |  | 9 |  | 0.13 |
Consumer direct loans | — |  |  | 1 |  |  | — |  |  | 2 |  |  | 3 |  | 0.05 |
Credit cards | — |  |  | — |  |  | — |  |  | 4 |  |  | 4 |  | 0.40 |
Consumer indirect loans(a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |
Total consumer loans | 2 |  |  | 2 |  |  | 2 |  |  | 20 |  |  | 26 |  | 0.07 |
Total loans | $ | 2 |  |  | $ | 186 |  |  | $ | 53 |  |  | $ | 54 |  |  | $ | 295 |  | 0.26 | %
(a)The amortized cost amount as of December 31, 2023, for Consumer indirect loans modified for borrowers experiencing financial difficulty totaled less than $1 million. (b)Combination modifications consist primarily of loans modified with both an interest rate reduction and a term extension. The following table summarizes the financial impacts of loan modifications made to specific loans during the three and twelve months ended December 31, 2023.
Three months ended December 31, 2023 | Weighted-average Interest Rate Change | Weighted-average Term Extension (in years)
LOAN TYPE |  |
Commercial and Industrial | (14.58) | % | 0.38
Real estate — residential mortgage | (1.82) | % | 7.75
Home equity loans | (2.48) | % | 7.74
Consumer direct loans | (1.17) | % | 0.38
Credit cards | (13.76) | % | 0.25
Consumer indirect loans | — | % | 0.42
Twelve months ended December 31, 2023 | Weighted-average Interest Rate Change | Weighted-average Term Extension (in years)
LOAN TYPE |  |
Commercial and Industrial | (5.69) | % | 0.59
Commercial mortgage | — | % | 1.37
Real estate — residential mortgage | (1.97) | % | 7.58
Home equity loans | (4.02) | % | 6.87
Consumer direct loans | (3.62) | % | 1.01
Credit cards | (14.90) | % | 1.00
Consumer indirect loans | (3.05) | % | 0.51
The following table depicts the performance of loans that have been modified for borrowers experiencing financial difficulty in the past 12 months.
As of December 31, 2023 | Current | 30-89 Days Past Due |  | 90 and Greater Days Past Due | Total
Dollars in millions
LOAN TYPE |  |  |  |  |
Commercial and Industrial | $ | 238 |  | $ | 25 |  |  | $ | — |  | $ | 263 |
Commercial real estate |  |  |  |  |
Commercial mortgage | 6 |  | — |  |  | — |  | 6 |
Construction | — |  | — |  |  | — |  | — |
Total commercial real estate loans | 244 |  | 25 |  |  | — |  | 269 |
Commercial lease financing | — |  | — |  |  | — |  | — |
Total commercial loans | 244 |  | 25 |  |  | — |  | 269 |
Real estate — residential mortgage | 9 |  | 1 |  |  | — |  | 10 |
Home equity loans | 8 |  | — |  |  | 1 |  | 9 |
Consumer direct loans | 3 |  | — |  |  | — |  | 3 |
Credit cards | 3 |  | 1 |  |  | — |  | 4 |
Consumer indirect loans | — |  | — |  |  | — |  | — |
Total consumer loans | $ | 23 |  | $ | 2 |  |  | $ | 1 |  | $ | 26 |
Total loans | $ | 267 |  | $ | 27 |  |  | $ | 1 |  | $ | 295 |
A further breakdown of TDRs included in nonperforming loans by loan category for the periods indicated are as follows:
|  |  | December 31, 2022
|  |  |  |  | Number of Loans | Pre-modification Outstanding Recorded Investment | Post-modification Outstanding Recorded Investment
Dollars in millions
LOAN TYPE |  |  |  |  |  |  |
Nonperforming: |  |  |  |  |  |  |
Commercial and industrial |  |  |  |  | 27 |  | $ | 60 |  | $ | 45 |
Commercial real estate: |  |  |  |  |  |  |
Real estate — commercial mortgage |  |  |  |  | 4 |  | 50 |  | 13 |
Total commercial real estate loans |  |  |  |  | 4 |  | 50 |  | 13 |
Total commercial loans |  |  |  |  | 31 |  | 110 |  | 58 |
Real estate — residential mortgage |  |  |  |  | 238 |  | 30 |  | 27 |
Home equity loans |  |  |  |  | 468 |  | 32 |  | 28 |
Consumer direct loans |  |  |  |  | 156 |  | 2 |  | 2 |
Credit cards |  |  |  |  | 331 |  | 2 |  | 2 |
Consumer indirect loans |  |  |  |  | 16 |  | 2 |  | 1 |
Total consumer loans |  |  |  |  | 1,209 |  | 68 |  | 60 |
Total nonperforming TDRs |  |  |  |  | 1,240 |  | 178 |  | 118 |
Prior-year accruing: (a) |  |  |  |  |  |  |
Commercial and industrial |  |  |  |  | 19 |  | — |  | — |
Commercial real estate: |  |  |  |  |  |  |
Real estate — commercial mortgage |  |  |  |  | — |  | — |  | — |
Total commercial loans |  |  |  |  | 19 |  | — |  | — |
Real estate — residential mortgage |  |  |  |  | 425 |  | 41 |  | 35 |
Home equity loans |  |  |  |  | 1,547 |  | 96 |  | 73 |
Consumer direct loans |  |  |  |  | 272 |  | 4 |  | 3 |
Credit cards |  |  |  |  | 607 |  | 4 |  | 2 |
Consumer indirect loans |  |  |  |  | 95 |  | 11 |  | 5 |
Total consumer loans |  |  |  |  | 2,946 |  | 156 |  | 118 |
Total prior-year accruing TDRs |  |  |  |  | 2,965 |  | 156 |  | 118 |
Total TDRs |  |  |  |  | 4,205 |  | $ | 334 |  | $ | 236 |
(a)All TDRs that were restructured prior to January 1, 2022, are fully accruing.
Schedule of Changes in Liability for Credit Losses on Off-Balance Sheet Exposures | Changes in the liability for credit losses for off balance sheet exposures are summarized as follows:
|  | Twelve months ended December 31,
Dollars in millions |  |  | 2023 | 2022
Balance at beginning of period |  |  | $ | 225 |  | $ | 160 |
Provision (credit) for losses on off balance sheet exposures |  |  | 74 |  | 65 |
Other |  |  | (3) |  | — |
Balance at end of period |  |  | $ | 296 |  | $ | 225 |
Schedule of 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:
December 31, |  |  |
Dollars in millions |  |  |  | 2022
Commercial loans: |  |  |  |
Extension of Maturity Date |  |  |  | $ | 36 |
Total |  |  |  | $ | 36 |
Consumer loans: |  |  |  |
Interest rate reduction |  |  |  | $ | 13 |
Other |  |  |  | 20 |
Total |  |  |  | $ | 33 |
Total TDRs |  |  |  | $ | 69 |
Schedule 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:
December 31, |  |  |
Dollars in millions |  |  |  | 2022
Balance at beginning of the period |  |  |  | $ | 220 |
Additions |  |  |  | 79 |
Payments |  |  |  | (45) |
Charge-offs |  |  |  | (18) |
Balance at end of period |  |  |  | $ | 236 |

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