Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Commitments and Contingencies

The following table summarizes certain tax credit and certain equity investments:


(Dollars in millions)	Balance Sheet Location	Mar 31, 2025		Dec 31, 2024
Investments in affordable housing projects and other qualified tax credits:
Carrying amount	Other assets	$	7,734	$	7,782
Amount of future funding commitments included in carrying amount	Other liabilities	2,547		2,667
Lending exposure	Loans and leases for funded amounts	2,251		2,376

Renewable energy investments:
Carrying amount	Other assets	752		551
Amount of future funding commitments not included in carrying amount	NA	649		702
SBIC and certain other equity method investments:
Carrying amount	Other assets	918		878
Amount of future funding commitments not included in carrying amount	NA	618		613

Summary of Tax Credits and Amortization, Tax Credit Investment Activity

The following table presents a summary of tax credits and amortization expense associated with the Company’s tax credit investment activity. Activity related to the Company’s renewable energy investments, other than qualified tax credits, was immaterial.


		Three Months Ended March 31,
(Dollars in millions)	Income Statement Location	2025		2024
Tax credits:


Investments in affordable housing projects, other qualified tax credits, and other community development investments	Provision for income taxes	$	211	$	185

Amortization and other changes in carrying amount:
Investments in affordable housing projects and other qualified tax credits	Provision for income taxes	$	188	$	171
Other community development investments	Other noninterest income	2		2

Schedule of Off-Balance Sheet

The following is a summary of selected notional amounts of off-balance sheet financial instruments:


(Dollars in millions)	Mar 31, 2025		Dec 31, 2024
Commitments to extend, originate, or purchase credit and other commitments	$	215,892	$	210,645
Residential mortgage loans sold with recourse	142		146
CRE mortgages serviced for others covered by recourse provisions	9,915		9,985
Other loans serviced for others covered by recourse and other provisions	2,118		2,022
Letters of credit	8,329		7,532

Schedule of Variable Interest Entities

The following table provides a summary of the TRS transactions with the associated VIE reference assets, which include trading loans and bonds:


(Dollars in millions)	Mar 31, 2025		Dec 31, 2024
Total return swaps:
VIE assets	$	2,257	$	1,854
Trading loans and bonds	1,962		1,473
VIE liabilities	465		356

Schedule of Pledged Assets

The following table provides the total carrying amount of pledged assets by asset type:


(Dollars in millions)	Mar 31, 2025		Dec 31, 2024
Pledged securities	$	38,172	$	48,058

Pledged loans:
FRB	102,211		93,497
FHLB	70,894		71,931
Unused borrowing capacity:
FRB	79,737		72,040
FHLB	32,041		31,411

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details