v3.25.2
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 449 $ 394
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization (31) (29)
Provision for credit losses 160 49
Net realized gains on securities available-for-sale (9) (10)
Net change in other assets and liabilities (296) 115
Net change in loans held for sale:    
Originations and purchases of loans held for sale (410) (145)
Sales and collections of loans held for sale 377 102
Net change in trading assets and liabilities (689) 118
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 4 30
Net cash provided by (used in) operating activities (445) 622
Cash flows from investing activities    
Net change in federal funds sold and securities purchased under agreements to resell 6,188 12,560
Securities available-for-sale:    
Purchases of securities available-for-sale (8,325) (5,592)
Proceeds from sales of securities available-for-sale 2,723 2,035
Proceeds from paydowns and maturities of securities available-for-sale 2,303 1,820
Securities held-to-maturity:    
Purchases of securities held-to-maturity (1,534) (606)
Proceeds from paydowns and maturities of securities held-to-maturity 814 576
Change in loans:    
Originations, net of collections (2,093) (3,199)
Loans sold to third parties 518 1,490
Net cash provided by (used for) sales (acquisitions) of properties and equipment 1 (1)
Other, net (72) (66)
Net cash provided by investing activities 523 9,017
Cash flows from financing activities    
Net change in deposits 2,752 (1,939)
Debt:    
Net change in short-term borrowings 706 (2,216)
Issuance of long-term debt 8,183 3,466
Repayment of long-term debt (4,992) (4,412)
Other decreases in capital surplus (9) (4)
Dividends paid (1,008) (8)
Net cash provided by (used in) financing activities 5,632 (5,113)
Net change in cash and due from banks and interest bearing deposits with banks 5,710 4,526
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 $ 28,956 $ 30,245