2013 | ||||||||||||||
Year ended December 31, (in millions) | Consumer, excluding credit card | Credit card | Wholesale | Total | ||||||||||
Allowance for loan losses | ||||||||||||||
Beginning balance at January 1, | $ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | ||||||
Gross charge-offs | 2,754 | 4,472 | 241 | 7,467 | ||||||||||
Gross recoveries | (847 | ) | (593 | ) | (225 | ) | (1,665 | ) | ||||||
Net charge-offs/(recoveries) | 1,907 | 3,879 | 16 | 5,802 | ||||||||||
Write-offs of PCI loans(a) | 53 | — | — | 53 | ||||||||||
Provision for loan losses | (1,872 | ) | 2,179 | (119 | ) | 188 | ||||||||
Other | (4 | ) | (6 | ) | 5 | (5 | ) | |||||||
Ending balance at December 31, | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | ||||||
Allowance for loan losses by impairment methodology | ||||||||||||||
Asset-specific(b) | $ | 601 | $ | 971 | (c) | $ | 181 | $ | 1,753 | |||||
Formula-based | 3,697 | 2,824 | 3,832 | 10,353 | ||||||||||
PCI | 4,158 | — | — | 4,158 | ||||||||||
Total allowance for loan losses | $ | 8,456 | $ | 3,795 | $ | 4,013 | $ | 16,264 | ||||||
Loans by impairment methodology | ||||||||||||||
Asset-specific | $ | 13,785 | $ | 3,115 | $ | 845 | $ | 17,745 | ||||||
Formula-based | 221,609 | 124,350 | 307,412 | 653,371 | ||||||||||
PCI | 53,055 | — | 6 | 53,061 | ||||||||||
Total retained loans | $ | 288,449 | $ | 127,465 | $ | 308,263 | $ | 724,177 | ||||||
Impaired collateral-dependent loans | ||||||||||||||
Net charge-offs | $ | 235 | $ | — | $ | 37 | $ | 272 | ||||||
Loans measured at fair value of collateral less cost to sell | 3,105 | — | 362 | 3,467 | ||||||||||
Allowance for lending-related commitments | ||||||||||||||
Beginning balance at January 1, | $ | 7 | $ | — | $ | 661 | $ | 668 | ||||||
Provision for lending-related commitments | 1 | — | 36 | 37 | ||||||||||
Other | — | — | — | — | ||||||||||
Ending balance at December 31, | $ | 8 | $ | — | $ | 697 | $ | 705 | ||||||
Allowance for lending-related commitments by impairment methodology | ||||||||||||||
Asset-specific | $ | — | $ | — | $ | 60 | $ | 60 | ||||||
Formula-based | 8 | — | 637 | 645 | ||||||||||
Total allowance for lending-related commitments | $ | 8 | $ | — | $ | 697 | $ | 705 | ||||||
Lending-related commitments by impairment methodology | ||||||||||||||
Asset-specific | $ | — | $ | — | $ | 206 | $ | 206 | ||||||
Formula-based | 56,057 | 529,383 | 446,026 | 1,031,466 | ||||||||||
Total lending-related commitments | $ | 56,057 | $ | 529,383 | $ | 446,232 | $ | 1,031,672 | ||||||
(a) | Write-offs of PCI loans are recorded against the allowance for loan losses when actual losses for a pool exceed estimated losses that were recorded as purchase accounting adjustments at the time of acquisition. Any write-offs of PCI loans are recognized when the underlying loan is removed from a pool (e.g., upon liquidation). |
(b) | Includes risk-rated loans that have been placed on nonaccrual status and loans that have been modified in a TDR. |
(c) | The asset-specific credit card allowance for loan losses is related to loans that have been modified in a TDR; such allowance is calculated based on the loans’ original contractual interest rates and does not consider any incremental penalty rates. |
(d) | Consumer, excluding credit card, charge-offs for the year ended December 31, 2012, included $747 million of charge-offs for Chapter 7 residential real estate loans and $53 million of charge-offs for Chapter 7 auto loans. |
(table continued from previous page) | ||||||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||||||
Consumer, excluding credit card | Credit card | Wholesale | Total | Consumer, excluding credit card | Credit card | Wholesale | Total | |||||||||||||||||||||
$ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | $ | 16,471 | $ | 11,034 | $ | 4,761 | $ | 32,266 | |||||||||||||
4,805 | (d) | 5,755 | 346 | 10,906 | 5,419 | 8,168 | 916 | 14,503 | ||||||||||||||||||||
(508 | ) | (811 | ) | (524 | ) | (1,843 | ) | (547 | ) | (1,243 | ) | (476 | ) | (2,266 | ) | |||||||||||||
4,297 | (d) | 4,944 | (178 | ) | 9,063 | 4,872 | 6,925 | 440 | 12,237 | |||||||||||||||||||
— | — | — | — | — | — | — | — | |||||||||||||||||||||
302 | 3,444 | (359 | ) | 3,387 | 4,670 | 2,925 | 17 | 7,612 | ||||||||||||||||||||
(7 | ) | 2 | 8 | 3 | 25 | (35 | ) | (22 | ) | (32 | ) | |||||||||||||||||
$ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | $ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | |||||||||||||
$ | 729 | $ | 1,681 | (c) | $ | 319 | $ | 2,729 | $ | 828 | $ | 2,727 | (c) | $ | 516 | $ | 4,071 | |||||||||||
5,852 | 3,820 | 3,824 | 13,496 | 9,755 | 4,272 | 3,800 | 17,827 | |||||||||||||||||||||
5,711 | — | — | 5,711 | 5,711 | — | — | 5,711 | |||||||||||||||||||||
$ | 12,292 | $ | 5,501 | $ | 4,143 | $ | 21,936 | $ | 16,294 | $ | 6,999 | $ | 4,316 | $ | 27,609 | |||||||||||||
$ | 13,938 | $ | 4,762 | $ | 1,475 | $ | 20,175 | $ | 9,892 | $ | 7,214 | $ | 2,549 | $ | 19,655 | |||||||||||||
218,945 | 123,231 | 304,728 | 646,904 | 232,989 | 124,961 | 275,825 | 633,775 | |||||||||||||||||||||
59,737 | — | 19 | 59,756 | 65,546 | — | 21 | 65,567 | |||||||||||||||||||||
$ | 292,620 | $ | 127,993 | $ | 306,222 | $ | 726,835 | $ | 308,427 | $ | 132,175 | $ | 278,395 | $ | 718,997 | |||||||||||||
$ | 973 | (c) | $ | — | $ | 77 | $ | 1,050 | $ | 110 | $ | — | $ | 128 | $ | 238 | ||||||||||||
3,272 | — | 445 | 3,717 | 830 | — | 833 | 1,663 | |||||||||||||||||||||
$ | 7 | $ | — | $ | 666 | $ | 673 | $ | 6 | $ | — | $ | 711 | $ | 717 | |||||||||||||
— | — | (2 | ) | (2 | ) | 2 | — | (40 | ) | (38 | ) | |||||||||||||||||
— | — | (3 | ) | (3 | ) | (1 | ) | — | (5 | ) | (6 | ) | ||||||||||||||||
$ | 7 | $ | — | $ | 661 | $ | 668 | $ | 7 | $ | — | $ | 666 | $ | 673 | |||||||||||||
$ | — | $ | — | $ | 97 | $ | 97 | $ | — | $ | — | $ | 150 | $ | 150 | |||||||||||||
7 | — | 564 | 571 | 7 | — | 516 | 523 | |||||||||||||||||||||
$ | 7 | $ | — | $ | 661 | $ | 668 | $ | 7 | $ | — | $ | 666 | $ | 673 | |||||||||||||
$ | — | $ | — | $ | 355 | $ | 355 | $ | — | $ | — | $ | 865 | $ | 865 | |||||||||||||
60,156 | 533,018 | 434,459 | 1,027,633 | 62,307 | 530,616 | 381,874 | 974,797 | |||||||||||||||||||||
$ | 60,156 | $ | 533,018 | $ | 434,814 | $ | 1,027,988 | $ | 62,307 | $ | 530,616 | $ | 382,739 | $ | 975,662 | |||||||||||||