v3.25.1
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 201 $ 225
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization (8) (16)
Provision for credit losses 118 2
Net realized gains on securities available-for-sale (3) (2)
Net change in other assets and liabilities (562) 305
Net change in loans held for sale:    
Originations and purchases of loans held for sale (335) (87)
Sales and collections of loans held for sale 202 74
Net change in trading assets and liabilities 1,201 2,276
Lower of amortized cost or fair value adjustments on loans held for sale 0 (2)
Loss on instruments designated at fair value and related derivatives 3 20
Net cash provided by operating activities 817 2,795
Cash flows from investing activities    
Net change in federal funds sold and securities purchased under agreements to resell 3,934 5,572
Securities available-for-sale:    
Purchases of securities available-for-sale (3,250) (2,320)
Proceeds from sales of securities available-for-sale 1,846 1,075
Proceeds from paydowns and maturities of securities available-for-sale 916 970
Securities held-to-maturity:    
Purchases of securities held-to-maturity (694) (464)
Proceeds from paydowns and maturities of securities held-to-maturity 366 259
Change in loans:    
Originations, net of collections (797) (1,745)
Loans sold to third parties 146 861
Net cash provided by (used for) sales (acquisitions) of properties and equipment 5 (8)
Other, net (31) (25)
Net cash provided by investing activities 2,441 4,175
Cash flows from financing activities    
Net change in deposits 2,382 766
Debt:    
Net change in short-term borrowings 271 (2,881)
Issuance of long-term debt 2,481 2,331
Repayment of long-term debt (2,329) (1,523)
Other decreases in capital surplus (7) 0
Net cash provided by (used in) financing activities 2,798 (1,307)
Net change in cash and due from banks and interest bearing deposits with banks 6,056 5,663
Cash and due from banks and interest bearing deposits with banks at beginning of period 23,246 25,719
Cash and due from banks and interest bearing deposits with banks at end of period $ 29,302 $ 31,382