0000927628-23-000296 | 10-Q | XBRL Viewer | Capital ONE Financial Corp

(2,064,000,000)

2,403,000,000

(4,467,000,000)

^[1]

18,408

^[1]

(251,000,000)

$ 0

2,000,000

(253,000,000)

(57,000,000)

Issuances of common stock and restricted stock, net of forfeitures (shares)

(2,484,000,000)

2,517,691

Issuances of common stock and restricted stock, net of forfeitures

68,000,000

$ 0

68,000,000

Exercises of stock options (shares)

7,809

Exercises of stock options

1,000,000

$ 0

1,000,000

Compensation expense for restricted stock units and stock options

103,000,000

Ending balance (shares) at Mar. 31, 2022

4,975,000

687,601,852

Ending balance at Mar. 31, 2022

56,345,000,000

$ 0

$ 7,000,000

34,286,000,000

53,099,000,000

(4,093,000,000)

(26,954,000,000)

Beginning balance (shares) at Dec. 31, 2021

4,975,000

685,057,944

Beginning balance at Dec. 31, 2021

61,029,000,000

$ 0

$ 7,000,000

34,112,000,000

51,006,000,000

374,000,000

(24,470,000,000)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Ending balance (shares) at Sep. 30, 2022

(4,950,000,000)

4,975,000

689,412,995

Ending balance at Sep. 30, 2022

50,861,000,000

$ 0

$ 7,000,000

34,579,000,000

56,240,000,000

(10,704,000,000)

(29,261,000,000)

Beginning balance (shares) at Mar. 31, 2022

4,975,000

687,601,852

Beginning balance at Mar. 31, 2022

56,345,000,000

$ 0

$ 7,000,000

34,286,000,000

53,099,000,000

(4,093,000,000)

(26,954,000,000)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(792,000,000)

2,031,000,000

(2,823,000,000)

^[1]

4,083

^[1]

(236,000,000)

$ 0

1,000,000

(237,000,000)

(57,000,000)

Issuances of common stock and restricted stock, net of forfeitures (shares)

(1,988,000,000)

671,473

Issuances of common stock and restricted stock, net of forfeitures

70,000,000

$ 0

70,000,000

Compensation expense for restricted stock units and stock options

68,000,000

Ending balance (shares) at Jun. 30, 2022

4,975,000

688,277,408

Ending balance at Jun. 30, 2022

53,410,000,000

$ 0

$ 7,000,000

34,425,000,000

54,836,000,000

(6,916,000,000)

(28,942,000,000)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(2,094,000,000)

1,694,000,000

(3,788,000,000)

5,936

(232,000,000)

$ 0

1,000,000

(233,000,000)

(57,000,000)

Issuances of common stock and restricted stock, net of forfeitures (shares)

(319,000,000)

941,581

Issuances of common stock and restricted stock, net of forfeitures

76,000,000

$ 0

76,000,000

Exercises of stock options (shares)

188,070

Exercises of stock options

10,000,000

$ 0

10,000,000

Compensation expense for restricted stock units and stock options

67,000,000

Ending balance (shares) at Sep. 30, 2022

4,975,000

689,412,995

Ending balance at Sep. 30, 2022

50,861,000,000

$ 0

$ 7,000,000

34,579,000,000

56,240,000,000

(10,704,000,000)

(29,261,000,000)

Beginning balance (shares) at Dec. 31, 2022

4,975,000

690,334,422

Beginning balance at Dec. 31, 2022

52,582,000,000

$ 48,000,000

^[2]

$ 0

$ 7,000,000

34,725,000,000

57,184,000,000

$ 48,000,000

^[2]

(9,916,000,000)

(29,418,000,000)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

2,336,000,000

960,000,000

1,376,000,000

^[1]

26,635

^[1]

(234,000,000)

$ 0

3,000,000

(237,000,000)

(57,000,000)

Issuances of common stock and restricted stock, net of forfeitures (shares)

(246,000,000)

2,972,149

Issuances of common stock and restricted stock, net of forfeitures

76,000,000

$ 0

76,000,000

Compensation expense for restricted stock units and stock options

148,000,000

Ending balance (shares) at Mar. 31, 2023

4,975,000

693,333,206

Ending balance at Mar. 31, 2023

54,653,000,000

(11,000,000)

$ 0

$ 7,000,000

34,952,000,000

57,898,000,000

(11,000,000)

(8,540,000,000)

(29,664,000,000)

Beginning balance (shares) at Dec. 31, 2022

4,975,000

690,334,422

Beginning balance at Dec. 31, 2022

52,582,000,000

48,000,000

^[2]

$ 0

$ 7,000,000

34,725,000,000

57,184,000,000

48,000,000

^[2]

(9,916,000,000)

(29,418,000,000)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Ending balance (shares) at Sep. 30, 2023

1,873,000,000

4,975,000

695,336,698

Ending balance at Sep. 30, 2023

53,668,000,000

$ 0

$ 7,000,000

35,334,000,000

60,529,000,000

(12,224,000,000)

(29,978,000,000)

Beginning balance (shares) at Mar. 31, 2023

4,975,000

693,333,206

Beginning balance at Mar. 31, 2023

54,653,000,000

(11,000,000)

$ 0

$ 7,000,000

34,952,000,000

57,898,000,000

(11,000,000)

(8,540,000,000)

(29,664,000,000)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

153,000,000

1,431,000,000

(1,278,000,000)

4,745

(232,000,000)

$ 0

1,000,000

(233,000,000)

(57,000,000)

Issuances of common stock and restricted stock, net of forfeitures (shares)

(157,000,000)

989,004

Issuances of common stock and restricted stock, net of forfeitures

88,000,000

$ 0

88,000,000

Compensation expense for restricted stock units and stock options

122,000,000

Ending balance (shares) at Jun. 30, 2023

4,975,000

694,326,955

Ending balance at Jun. 30, 2023

54,559,000,000

$ 0

^[3]

$ 0

$ 7,000,000

35,163,000,000

59,028,000,000

$ 0

^[3]

(9,818,000,000)

(29,821,000,000)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

(616,000,000)

1,790,000,000

(2,406,000,000)

^[1]

4,078

^[1]

(232,000,000)

$ 0

(232,000,000)

(57,000,000)

Issuances of common stock and restricted stock, net of forfeitures (shares)

(157,000,000)

943,409

Issuances of common stock and restricted stock, net of forfeitures

71,000,000

$ 0

71,000,000

Exercises of stock options (shares)

62,256

Exercises of stock options

4,000,000

$ 0

4,000,000

Compensation expense for restricted stock units and stock options

96,000,000

Ending balance (shares) at Sep. 30, 2023

4,975,000

695,336,698

Ending balance at Sep. 30, 2023

$ 53,668,000,000

$ 0

$ 7,000,000

$ 35,334,000,000

$ 60,529,000,000

$ (12,224,000,000)

$ (29,978,000,000)

[1]	We declared dividends per share on our common stock of $0.60 in the third quarter of 2023 and 2022, and $1.80 in the first nine months of 2023 and 2022.
[2]	Impact from the adoption of ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures as of January 1, 2023.
[3]	We have equity method investments in certain non-public entities which adopted ASU 2019-10, Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) as of January 1, 2023. The impact to retained earnings was recorded in the second quarter of 2023, on a one quarter lag consistent with our standard operating procedures for equity method investments.

Deposits and Borrowings - Deposits and Short-term Borrowings (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Deposits [Abstract]
Non-interest-bearing deposits	$ 28,794	$ 32,203
Interest-bearing deposits	317,217	300,789
Total deposits	346,011	332,992	$ 317,193
Short-term borrowings
Short-term borrowings	522	883
Time deposits, at or above FDIC insurance limit	15,400	6,100
Federal funds purchased and securities loaned or sold under agreements to repurchase
Short-term borrowings
Short-term borrowings	$ 522	$ 883

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss	$ 14,955		$ 14,955				$ 13,240
Financing Receivable Allowance For Credit Loss Translation Adjustments And Purchase Credit Deteriorated Loans	0	$ 10	32	$ 10
Allowance for credit losses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase (Decrease) in Allowance for Credit Loss			1,700
Allowance for credit loss	14,955	12,209	14,955	12,209	$ 14,646	$ 13,177	13,240	$ 11,491	$ 11,430
Credit Card: \| Allowance for credit losses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss	11,324	8,716	11,324	8,716	10,976	9,482	9,545	8,166	8,345
Consumer Banking: \| Allowance for credit losses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss	2,049	2,108	2,049	2,108	2,185	2,237	2,237	2,047	1,918
Commercial Portfolio \| Allowance for credit losses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss	$ 1,582	$ 1,385	$ 1,582	$ 1,385	$ 1,485	$ 1,458	$ 1,458	$ 1,278	$ 1,167

Loans

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Loans


NOTE 3—LOANS

Our loan portfolio consists of loans held for investment, including loans held in our consolidated trusts, and loans held for sale. We further divide our loans held for investment into three portfolio segments: Credit Card, Consumer Banking and Commercial Banking. Credit card loans consist of domestic and international credit card loans. Consumer banking loans consist of auto and retail banking loans. Commercial banking loans consist of commercial and multifamily real estate as well as commercial and industrial loans. The information presented in the tables in this note excludes loans held for sale, which are carried at either fair value (if we elect the fair value option) or at the lower of cost or fair value.

Accrued interest receivable of $2.2 billion and $1.9 billion as of September 30, 2023 and December 31, 2022, respectively, is not included in the tables in this note. The table below presents the composition and aging analysis of our loans held for investment portfolio as of September 30, 2023 and December 31, 2022. The delinquency aging includes all past due loans, both performing and nonperforming.

Table 3.1: Loan Portfolio Composition and Aging Analysis


	September 30, 2023
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	134,267	$	1,820	$	1,329	$	2,904	$	6,053	$	140,320
International card businesses	6,170		105		67		121		293		6,463
Total credit card	140,437		1,925		1,396		3,025		6,346		146,783
Consumer Banking:
Auto	70,665		2,961		1,409		421		4,791		75,456
Retail banking	1,357		15		3		13		31		1,388
Total consumer banking	72,022		2,976		1,412		434		4,822		76,844
Commercial Banking:
Commercial and multifamily real estate	35,324		126		37		135		298		35,622
Commercial and industrial	55,322		5		0		204		209		55,531
Total commercial banking	90,646		131		37		339		507		91,153
Total loans(1)	$	303,105	$	5,032	$	2,845	$	3,798	$	11,675	$	314,780
% of Total loans	96.29%		1.60%		0.90%		1.21%		3.71%		100.00%


	December 31, 2022
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	127,066	$	1,405	$	975	$	2,135	$	4,515	$	131,581
International card businesses	5,895		86		58		110		254		6,149
Total credit card	132,961		1,491		1,033		2,245		4,769		137,730
Consumer Banking:
Auto	73,467		3,101		1,418		387		4,906		78,373
Retail banking	1,518		13		4		17		34		1,552
Total consumer banking	74,985		3,114		1,422		404		4,940		79,925


	December 31, 2022
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Commercial Banking:
Commercial and multifamily real estate	37,417		0		1		35		36		37,453
Commercial and industrial	56,942		61		55		165		281		57,223
Total commercial banking	94,359		61		56		200		317		94,676
Total loans(1)	$	302,305	$	4,666	$	2,511	$	2,849	$	10,026	$	312,331
% of Total loans	96.79%		1.50%		0.80%		0.91%		3.21%		100.00%

__________(1)Loans include unamortized premiums, discounts, and deferred fees and costs totaling $1.4 billion as of both September 30, 2023 and December 31, 2022

The following table presents our loans held for investment that are 90 days or more past due that continue to accrue interest, loans that are classified as nonperforming and loans that are classified as nonperforming without an allowance as of September 30, 2023 and December 31, 2022. Nonperforming loans generally include loans that have been placed on nonaccrual status.

Table 3.2: 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans


	September 30, 2023									December 31, 2022
(Dollars in millions)	> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance			> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance
Credit Card:
Domestic credit card	$	2,904		N/A			$	0		$	2,135		N/A			$	0
International card businesses	115			$	9		0			105			$	9		0
Total credit card	3,019			9			0			2,240			9			0
Consumer Banking:
Auto	0			639			0			0			595			0
Retail banking	0			45			23			0			39			8
Total consumer banking	0			684			23			0			634			8
Commercial Banking:
Commercial and multifamily real estate	0			459			312			0			271			246
Commercial and industrial	13			363			199			0			430			294
Total commercial banking	13			822			511			0			701			540
Total	$	3,032		$	1,515		$	534		$	2,240		$	1,344		$	548
% of Total loans held for investment	0.96		%	0.48		%	0.17		%	0.72		%	0.43		%	0.18		%

__________

(1)We recognized interest income for loans classified as nonperforming of $11 million and $47 million for the three and nine months ended September 30, 2023, respectively, and $2 million and $29 million for the three and nine months ended September 30, 2022, respectively

Credit Quality Indicators

We closely monitor economic conditions and loan performance trends to assess and manage our exposure to credit risk. We discuss these risks and our credit quality indicator for each portfolio segment below.

Credit Card

Our credit card loan portfolio is highly diversified across millions of accounts and numerous geographies without significant individual exposure. We therefore generally manage credit risk based on portfolios with common risk characteristics. The risk in our credit card loan portfolio correlates to broad economic trends, such as unemployment rates and the U.S. Real Gross Domestic Product (“GDP”) Rate, as well as consumers’ financial condition, all of which can have a material effect on credit performance. The key indicator we assess in monitoring the credit quality and risk of our credit card loan portfolio is delinquency trends, including an analysis of loan migration between delinquency categories over time.

The table below presents our credit card portfolio by delinquency status as of September 30, 2023 and December 31, 2022.

Table 3.3: Credit Card Delinquency Status


	September 30, 2023						December 31, 2022
(Dollars in millions)	Revolving Loans		Revolving Loans Converted to Term		Total		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card:
Domestic credit card:
Current	$	133,953	$	314	$	134,267	$	126,811	$	255	$	127,066
30-59 days	1,796		24		1,820		1,388		17		1,405
60-89 days	1,312		17		1,329		964		11		975
Greater than 90 days	2,879		25		2,904		2,121		14		2,135
Total domestic credit card	139,940		380		140,320		131,284		297		131,581

International card businesses:
Current	6,140		30		6,170		5,866		29		5,895
30-59 days	101		4		105		83		3		86
60-89 days	64		3		67		55		3		58
Greater than 90 days	117		4		121		106		4		110
Total international card businesses	6,422		41		6,463		6,110		39		6,149
Total credit card	$	146,362	$	421	$	146,783	$	137,394	$	336	$	137,730

Consumer Banking

Our consumer banking loan portfolio consists of auto and retail banking loans. Similar to our credit card loan portfolio, the risk in our consumer banking loan portfolio correlates to broad economic trends as well as consumers’ financial condition, all of which can have a material effect on credit performance. The key indicator we consider when assessing the credit quality and risk of our auto loan portfolio is borrower credit scores as they measure the creditworthiness of borrowers. Delinquency trends are the key indicator we assess in monitoring the credit quality and risk of our retail banking loan portfolio.

The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of September 30, 2023 and December 31, 2022. We present our auto loan portfolio by FICO scores at origination and our retail banking loan portfolio by delinquency status, which includes all past due loans, both performing and nonperforming.

Table 3.4: Consumer Banking Portfolio by Vintage Year


	September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	9,809	$	13,757	$	10,562	$	3,608	$	1,499	$	471	$	39,706	$	0	$	0	$	39,706
621-660	3,891		4,840		3,724		1,535		713		277		14,980		0		0		14,980
620 or below	5,359		6,053		4,775		2,682		1,345		556		20,770		0		0		20,770
Total auto	19,059		24,650		19,061		7,825		3,557		1,304		75,456		0		0		75,456

Retail banking—Delinquency status:
Current	73		153		78		69		121		497		991		361		5		1,357
30-59 days	0		0		0		0		0		3		3		12		0		15
60-89 days	0		0		0		0		0		1		1		2		0		3
Greater than 90 days	0		0		0		0		0		8		8		4		1		13
Total retail banking	73		153		78		69		121		509		1,003		379		6		1,388
Total consumer banking	$	19,132	$	24,803	$	19,139	$	7,894	$	3,678	$	1,813	$	76,459	$	379	$	6	$	76,844


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	17,872	$	14,246	$	5,354	$	2,595	$	1,032	$	328	$	41,427	$	0	$	0	$	41,427
621-660	6,212		5,060		2,257		1,167		513		185		15,394		0		0		15,394
620 or below	7,717		6,501		3,898		2,144		914		378		21,552		0		0		21,552
Total auto	31,801		25,807		11,509		5,906		2,459		891		78,373		0		0		78,373

Retail banking—Delinquency status:
Current	166		128		82		133		127		470		1,106		408		4		1,518
30-59 days	2		1		0		0		0		2		5		8		0		13
60-89 days	0		1		0		0		0		1		2		2		0		4
Greater than 90 days	0		0		0		0		3		8		11		4		2		17
Total retail banking	168		130		82		133		130		481		1,124		422		6		1,552
Total consumer banking	$	31,969	$	25,937	$	11,591	$	6,039	$	2,589	$	1,372	$	79,497	$	422	$	6	$	79,925

__________

(1)Amounts represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average Fair Isaac Corporation (“FICO”) scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.

Commercial Banking

The key credit quality indicator for our commercial loan portfolios is our internal risk ratings. We assign internal risk ratings to loans based on relevant information about the ability of the borrowers to repay their debt. In determining the risk rating of a particular loan, some of the factors considered are the borrower’s current financial condition, historical and projected future credit performance, prospects for support from financially responsible guarantors, the estimated realizable value of any collateral and current economic trends. The scale based on our internal risk rating system is as follows:

•Noncriticized: Loans that have not been designated as criticized, frequently referred to as “pass” loans.

•Criticized performing: Loans in which the financial condition of the obligor is stressed, affecting earnings, cash flows or collateral values. The borrower currently has adequate capacity to meet near-term obligations; however, the stress, left unabated, may result in deterioration of the repayment prospects at some future date.

•Criticized nonperforming: Loans that are not adequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Loans classified as criticized nonperforming have a well-defined weakness, or weaknesses, which jeopardize the full repayment of the debt. These loans are characterized by the distinct possibility that we will sustain a credit loss if the deficiencies are not corrected and are generally placed on nonaccrual status.

We use our internal risk rating system for regulatory reporting, determining the frequency of credit exposure reviews, and evaluating and determining the allowance for credit losses. Generally, loans that are designated as criticized performing and criticized nonperforming are reviewed quarterly by management to determine if they are appropriately classified/rated and whether any impairment exists. Noncriticized loans are also generally reviewed, at least annually, to determine the appropriate risk rating. In addition, we evaluate the risk rating during the renewal process of any loan or if a loan becomes past due.

The following table presents our commercial banking portfolio of loans held for investment by internal risk ratings as of September 30, 2023 and December 31, 2022. The internal risk rating status includes all past due loans, both performing and nonperforming. Certain amounts as of December 31, 2022 have been reclassified between vintage years to reflect our revised methodology for loans impacted by LIBOR transition.

Table 3.5: Commercial Banking Portfolio by Internal Risk Ratings


	September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	2,919	$	4,848	$	3,092	$	1,247	$	2,421	$	3,796	$	18,323	$	13,215	$	25	$	31,563
Criticized performing	230		1,217		560		258		419		901		3,585		15		0		3,600
Criticized nonperforming	0		0		46		0		127		286		459		0		0		459
Total commercial and multifamily real estate	3,149		6,065		3,698		1,505		2,967		4,983		22,367		13,230		25		35,622
Commercial and industrial
Noncriticized	4,704		12,196		7,329		3,796		2,595		5,319		35,939		15,352		114		51,405
Criticized performing	242		815		575		270		344		457		2,703		1,060		0		3,763
Criticized nonperforming	0		25		22		25		154		81		307		56		0		363
Total commercial and industrial	4,946		13,036		7,926		4,091		3,093		5,857		38,949		16,468		114		55,531
Total commercial banking	$	8,095	$	19,101	$	11,624	$	5,596	$	6,060	$	10,840	$	61,316	$	29,698	$	139	$	91,153


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	5,860	$	4,807	$	1,676	$	2,879	$	1,927	$	3,474	$	20,623	$	13,254	$	25	$	33,902
Criticized performing	359		487		212		535		378		1,196		3,167		113		0		3,280
Criticized nonperforming	1		22		0		94		19		135		271		0		0		271
Total commercial and multifamily real estate	6,220		5,316		1,888		3,508		2,324		4,805		24,061		13,367		25		37,453
Commercial and industrial
Noncriticized	13,485		7,993		4,466		3,420		1,797		5,349		36,510		17,187		21		53,718
Criticized performing	482		686		216		336		228		163		2,111		964		0		3,075
Criticized nonperforming	30		29		0		156		82		57		354		76		0		430
Total commercial and industrial	13,997		8,708		4,682		3,912		2,107		5,569		38,975		18,227		21		57,223
Total commercial banking	$	20,217	$	14,024	$	6,570	$	7,420	$	4,431	$	10,374	$	63,036	$	31,594	$	46	$	94,676

__________

(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

Financial Difficulty Modifications to Borrowers

As part of our loss mitigation efforts, we may provide short-term (one to twelve months) or long-term (greater than twelve months) modifications to a borrower experiencing financial difficulty to improve long-term collectability of the loan and to avoid the need for repossession or foreclosure of collateral.

We consider the impact of all loan modifications when estimating the credit quality of our loan portfolio and establishing allowance levels. For our Commercial Banking customers, loan modifications are also considered in the assignment of an internal risk rating.

On January 1, 2023, we adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures using the modified retrospective adoption method. The ASU eliminates the accounting guidance for TDRs and enhances disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty (“FDMs”). The types of modifications we offer borrowers experiencing financial difficulty did not change as a result of ASU 2022-02. Under this new accounting guidance, FDMs are accumulated and the performance of each loan that received a FDM is reported on a rolling twelve month basis. For the interim reporting period ended September 30, 2023, FDMs and the related borrower performance information pertain to FDMs which occurred in the three and nine months ended September 30, 2023. For additional information on FDMs, see “Note 1—Summary of Significant Accounting Policies.”

For the interim periods prior to adoption of ASU 2022-02, our previous TDR disclosures are included below in the “Troubled Debt Restructurings” section. For additional information on loan modifications classified as a TDR prior to January 1, 2023, see “Part II—Item 8. Financial Statements and Supplementary Data—Note 1—Summary of Significant Accounting Policies” in our 2022 Form 10-K. FDM disclosures are not directly comparable to the prior period TDR disclosures due to differences in the respective accounting guidance and disclosure requirements.

The following table presents the major modification types, amortized cost amounts for each modification type and financial effects for all FDMs undertaken during the three and nine months ended September 30, 2023.

Table 3.6: Financial Difficulty Modifications to Borrowers


	Three Months Ended September 30, 2023
	Credit Card									Consumer Banking									Commercial Banking
(Dollars in millions)	Domestic Card			International Card Businesses			Total Credit Card			Auto			Retail Banking			Total Consumer Banking			Commercial and Multifamily Real Estate			Commercial and Industrial			Total Commercial Banking			Total
Interest rate reduction	$	200		$	42		$	242		—			—			—			—			—			—			$	242
Term extension	—			—			—			$	14		$	2		$	16		$	128		$	147		$	275		291
Principal balance reduction	—			—			—			8			—			8			—			—			—			8

Interest rate reduction and term extension	7			—			7			248			—			248			—			26			26			281
Other(1)	—			—			—			2			7			9			—			56			56			65
Total loans modified	$	207		$	42		$	249		$	272		$	9		$	281		$	128		$	229		$	357		$	887
% of total class of receivables	0.15		%	0.65		%	0.17		%	0.36		%	0.62		%	0.36		%	0.36		%	0.41		%	0.39		%	0.28		%


	Nine Months Ended September 30, 2023
	Credit Card									Consumer Banking									Commercial Banking
(Dollars in millions)	Domestic Card			International Card Businesses			Total Credit Card			Auto			Retail Banking			Total Consumer Banking			Commercial and Multifamily Real Estate			Commercial and Industrial			Total Commercial Banking			Total
Interest rate reduction	$	437		$	76		$	513		—			—			—			—			—			—			$	513
Term extension	—			—			—			$	76		$	3		$	79		$	327		$	347		$	674		753
Principal balance reduction	—			—			—			17			—			17			—			—			—			17
Principal balance reduction and term extension	—			—			—			—			—			—			—			15			15			15
Interest rate reduction and term extension	10			—			10			504			—			504			—			26			26			540

Other(1)	—			—			—			3			7			10			54			151			205			215
Total loans modified	$	447		$	76		$	523		$	600		$	10		$	610		$	381		$	539		$	920		$	2,053
% of total class of receivables	0.32		%	1.17		%	0.36		%	0.79		%	0.75		%	0.79		%	1.07		%	0.97		%	1.01		%	0.65		%

__________

(1)Consumer Banking and Commercial Banking consists of modifications other than interest rate reduction, term extension, or principal balance reduction.

Table 3.7: Financial Effects of Financial Difficulty Modifications to Borrowers


	Three Months Ended September 30, 2023
	Credit Card		Consumer Banking		Commercial Banking
(Dollars in millions)	Domestic Card	International Card Businesses		Auto	Retail Banking	Commercial and Multifamily Real Estate	Commercial and Industrial
Weighted-average interest rate reduction	19.40%	27.41%		8.67%	—	—	0.25%
Payment delay duration (in months)	12	0		6	8	11	17
Principal balance reduction	—	—		—	—	—	—


	Nine Months Ended September 30, 2023
	Credit Card		Consumer Banking				Commercial Banking
(Dollars in millions)	Domestic Card	International Card Businesses		Auto		Retail Banking		Commercial and Multifamily Real Estate		Commercial and Industrial
Weighted-average interest rate reduction	19.19%	27.08%		8.74%		2.00%		—		0.25%
Payment delay duration (in months)	12	0		6		13		15		9
Principal balance reduction	—	—		$	1	—		$	20	$	3

Performance of Financial Difficulty Modifications to Borrowers

We monitor loan performance trends, including FDMs, to assess and manage our exposure to credit risk. See “Note 1—Summary of Significant Accounting Policies” for additional information on how the allowance for modified loans is calculated for each portfolio segment.

The following table presents FDMs over a rolling 12 month period by delinquency status as of September 30, 2023.

Table 3.8 Delinquency Status of Loan Modifications to Borrowers Experiencing Financial Difficulty(1)


	September 30, 2023
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	283	$	65	$	40	$	59	$	164	$	447
International card businesses	35		8		8		25		41		76
Total credit card	318		73		48		84		205		523
Consumer Banking:
Auto	457		79		46		18		143		600
Retail banking	10		0		0		0		0		10
Total consumer banking	467		79		46		18		143		610
Commercial Banking:
Commercial and multifamily real estate	318		0		0		63		63		381
Commercial and industrial	417		4		0		118		122		539
Total commercial banking	735		4		0		181		185		920
Total	$	1,520	$	156	$	94	$	283	$	533	$	2,053

__________

(1)Commitments to lend additional funds on FDMs totaled $75 million as of September 30, 2023.

Subsequent Defaults of Financial Difficulty Modifications to Borrowers

FDMs may subsequently enter default. A default occurs if a FDM is either 90 days or more delinquent, has been charged off, or has been reclassified from accrual to nonaccrual status. Loans that entered a modification program in any stage of delinquency are included in the aging table above. Loans that entered a modification program while in default are not considered to have subsequently defaulted for purposes of this disclosure. The allowance for any FDMs that have subsequently defaulted is measured using the same methodology as the allowance for loans held for investment. See “Note 1—Summary of Significant Accounting Policies” for additional information.

The following table presents FDMs that entered subsequent default for the three and nine months ended September 30, 2023.

Table 3.9 Subsequent Defaults of Financial Difficulty Modifications to Borrowers


	Three Months Ended September 30, 2023
(Dollars in millions)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total Loans
Credit Card:
Domestic credit card	$	17	$	0	$	0	$	17
International card businesses	6		0		0		6
Total credit card	23		0		0		23
Consumer Banking:
Auto	0		7		77		84

Total consumer banking	0		7		77		84
Commercial Banking:
Commercial and multifamily real estate	0		46		0		46
Commercial and industrial	0		51		0		51
Total commercial banking	0		97		0		97
Total	$	23	$	104	$	77	$	204


	Nine Months Ended September 30, 2023
(Dollars in millions)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total Loans
Credit Card:
Domestic credit card	$	39	$	0	$	0	$	39
International card businesses	9		0		0		9
Total credit card	48		0		0		48
Consumer Banking:
Auto	0		9		129		138

Total consumer banking	0		9		129		138
Commercial Banking:
Commercial and multifamily real estate	0		46		0		46
Commercial and industrial	0		51		0		51
Total commercial banking	0		97		0		97
Total	$	48	$	106	$	129	$	283

Troubled Debt Restructurings

The following tables present the major modification types, amortized cost amounts and financial effects of loans modified in a TDR during the three and nine months ended September 30, 2022.

Table 3.10: Troubled Debt Restructurings(1)


			Three Months Ended September 30, 2022
			Reduced Interest Rate		Term Extension
(Dollars in millions)	Total Loans Modified(2)		% of TDR Activity(3)	Average Rate Reduction	% of TDR Activity(3)	Average Term Extension (Months)
Credit Card:
Domestic credit card	$	77	100%	16.79%	N/A	N/A
International card businesses	29		100	27.52	N/A	N/A
Total credit card	106		100	19.77	N/A	N/A
Consumer Banking:
Auto	275		64	8.45	97%	5
Retail banking	1		N/A	N/A	60	14
Total consumer banking	276		64	8.45	97	5
Commercial Banking:
Commercial and multifamily real estate	38		58	0.78	100	11
Commercial and industrial	75		N/A	N/A	98	17
Total commercial banking	113		20	0.78	99	15
Total	$	495


			Nine Months Ended September 30, 2022
			Reduced Interest Rate		Term Extension
(Dollars in millions)	Total Loans Modified(2)		% of TDR Activity(3)	Average Rate Reduction	% of TDR Activity(3)	Average Term Extension (Months)
Credit Card:
Domestic credit card	$	196	100%	15.76%	N/A	N/A
International card businesses	93		100	27.73	N/A	N/A
Total credit card	289		100	19.63	N/A	N/A
Consumer Banking:
Auto	794		56	8.59	97%	4
Retail banking	2		N/A	N/A	76	13
Total consumer banking	796		56	8.59	97	4
Commercial Banking:
Commercial and multifamily real estate	302		10	0.35	80	13
Commercial and industrial	242		N/A	N/A	62	14
Total commercial banking	544		6	0.35	72	13
Total	$	1,629

__________

(1)Commitments to lend additional funds on loans modified in TDRs totaled $214 million as of September 30, 2022.

(2)Represents the amortized cost of total loans modified in TDRs at the end of the period in which they were modified. As not every modification type is included in the table above, the total percentage of TDR activity may not add up to 100%. Some loans may receive more than one type of modification.

(3)Due to multiple modification types granted to some troubled borrowers, percentages may total more than 100% for certain loan types.

Subsequent Defaults of Completed TDR Modifications

The following table presents the type, number and amortized cost of loans modified in a TDR that experienced a default during the period and had completed a modification event in the twelve months prior to the default. A default occurs if the loan is either 90 days or more delinquent, has been charged off as of the end of the period presented or has been reclassified from accrual to nonaccrual status.

Table 3.11: TDR—Subsequent Defaults



	Three Months Ended September 30, 2022			Nine Months Ended September 30, 2022
(Dollars in millions)	Number of Contracts	Amount		Number of Contracts	Amount
Credit Card:
Domestic credit card	9,927	$	19	23,951	$	47
International card businesses	18,971	19		55,089	58
Total credit card	28,898	38		79,040	105
Consumer Banking:
Auto	4,592	82		10,102	178
Retail banking	0	0		0	0
Total consumer banking	4,592	82		10,102	178
Commercial Banking:

Commercial and industrial	0	0		3	35
Total commercial banking	0	0		3	35
Total	33,490	$	120	89,145	$	318

Loans Pledged

We pledged loan collateral of $7.8 billion and $9.8 billion to secure a portion of our FHLB borrowing capacity of $31.6 billion and $19.9 billion as of September 30, 2023 and December 31, 2022, respectively. We also pledged loan collateral of $69.8 billion and $34.1 billion to secure our Federal Reserve Discount Window borrowing capacity of $40.9 billion and $19.7 billion as of September 30, 2023 and December 31, 2022, respectively. In addition to loans pledged, we have securitized a portion of our credit card and auto loan portfolios. See “Note 5—Variable Interest Entities and Securitizations” for additional information.

Revolving Loans Converted to Term LoansFor the three and nine months ended September 30, 2023, we converted $101 million and $443 million of revolving loans to term loans, respectively, primarily in our domestic credit card and commercial banking loan portfolios. For the three and nine months ended September 30, 2022, we converted $51 million and $383 million of revolving loans to term loans, respectively, primarily in our domestic credit card and commercial banking loan portfolios

Variable Interest Entities and Securitizations

9 Months Ended

Sep. 30, 2023

Variable Interest Entities and Securitization [Abstract]

Variable Interest Entities and Securitizations


NOTE 5—VARIABLE INTEREST ENTITIES AND SECURITIZATIONS

In the normal course of business, we enter into various types of transactions with entities that are considered to be variable interest entities (“VIEs”). Our primary involvement with VIEs is related to our securitization transactions in which we transfer assets to securitization trusts. We primarily securitize credit card and auto loans, which provide a source of funding for us and enable us to transfer a certain portion of the economic risk of the loans or related debt securities to third parties.

The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and is required to consolidate the VIE. The majority of the VIEs in which we are involved have been consolidated in our financial statements.

Summary of Consolidated and Unconsolidated VIEs

The assets of our consolidated VIEs primarily consist of cash, loan receivables and the related allowance for credit losses, which we report on our consolidated balance sheets under restricted cash for securitization investors, loans held in consolidated trusts and allowance for credit losses, respectively. The assets of a particular VIE are the primary source of funds to settle its obligations. Creditors of these VIEs typically do not have recourse to our general credit. Liabilities primarily consist of debt securities issued by the VIEs, which we report under securitized debt obligations on our consolidated balance sheets. For unconsolidated VIEs, we present the carrying amount of assets and liabilities reflected on our consolidated balance sheets and our maximum exposure to loss. Our maximum exposure to loss is estimated based on the unlikely event that all of the assets in the VIEs become worthless and we are required to meet the maximum amount of any remaining funding obligations.

The tables below present a summary of VIEs in which we had continuing involvement or held a significant variable interest, aggregated based on VIEs with similar characteristics as of September 30, 2023 and December 31, 2022. We separately present information for consolidated and unconsolidated VIEs.

Table 5.1: Carrying Amount of Consolidated and Unconsolidated VIEs


	September 30, 2023
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	24,610	$	14,689	$	0	$	0	$	0
Auto loan securitizations	4,464		3,651		0		0		0
Total securitization-related VIEs	29,074		18,340		0		0		0
Other VIEs:(3)
Affordable housing entities	271		5		5,551		2,049		5,551
Entities that provide capital to low-income and rural communities	2,509		10		0		0		0
Other(4)	0		0		466		0		466
Total other VIEs	2,780		15		6,017		2,049		6,017
Total VIEs	$	31,854	$	18,355	$	6,017	$	2,049	$	6,017


	December 31, 2022
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	23,620	$	13,877	$	0	$	0	$	0
Auto loan securitizations	4,863		4,002		0		0		0
Total securitization-related VIEs	28,483		17,879		0		0		0


	December 31, 2022
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Other VIEs:(3)
Affordable housing entities	261		19		4,944		1,596		4,944
Entities that provide capital to low-income and rural communities	2,301		10		0		0		0
Other(4)	0		0		337		0		337
Total other VIEs	2,562		29		5,281		1,596		5,281
Total VIEs	$	31,045	$	17,908	$	5,281	$	1,596	$	5,281

__________

(1)Excludes insignificant VIEs from previously exited businesses.

(2)Represents the carrying amount of assets and liabilities of the VIE, which includes the seller’s interest and repurchased notes held by other related parties.

(3)In certain investment structures, we consolidate a VIE which in turn holds as its primary asset an investment in an unconsolidated VIE. In these instances, we disclose the carrying amount of assets and liabilities on our consolidated balance sheets as unconsolidated VIEs to avoid duplicating our exposure, as the unconsolidated VIEs are generally the operating entities generating the exposure. The carrying amount of assets and liabilities included in the unconsolidated VIE columns above related to these investment structures were $2.5 billion of assets and $931 million of liabilities as of September 30, 2023, and $2.3 billion of assets and $616 million of liabilities as of December 31, 2022.

(4)Primarily consists of variable interests in companies that promote renewable energy sources and other equity method investments.

Securitization-Related VIEs

In a securitization transaction, assets are transferred to a trust, which generally meets the definition of a VIE. We engage in securitization activities as an issuer and an investor. Our primary securitization issuance activity includes credit card and auto securitizations, conducted through securitization trusts which we consolidate. Our continuing involvement in these securitization transactions mainly consists of acting as the primary servicer and holding certain retained interests.

In our multifamily agency business, we originate multifamily commercial real estate loans and transfer them to government-sponsored enterprises (“GSEs”) who may, in turn, securitize them. We retain the related mortgage servicing rights (“MSRs”) and service the transferred loans pursuant to the guidelines set forth by the GSEs. As an investor, we hold primarily RMBS, CMBS, and ABS in our investment securities portfolio, which represent variable interests in the respective securitization trusts from which those securities were issued. We do not consolidate the securitization trusts employed in these transactions as we do not have the power to direct the activities that most significantly impact the economic performance of these securitization trusts. We exclude these VIEs from the tables within this note because we do not consider our continuing involvement with these VIEs to be significant as we either solely invest in securities issued by the VIE and were not involved in the design of the VIE or no transfers have occurred between the VIE and ourselves. Our maximum exposure to loss as a result of our involvement with these VIEs is the carrying value of the MSRs and investment securities on our consolidated balance sheets as well as our contractual obligations under loss sharing arrangements. See “Note 13—Commitments, Contingencies, Guarantees and Others” for information about the loss sharing agreements, “Note 6—Goodwill and Other Intangible Assets” for information related to our MSRs associated with these securitizations and “Note 2—Investment Securities” for more information on the securities held in our investment securities portfolio. In addition, where we have certain lending arrangements in the normal course of business with entities that could be VIEs, we have also excluded these VIEs from the tables presented in this note. See “Note 3—Loans” for additional information regarding our lending arrangements in the normal course of business.

The table below presents our continuing involvement in certain securitization-related VIEs as of September 30, 2023 and December 31, 2022.

Table 5.2: Continuing Involvement in Securitization-Related VIEs


(Dollars in millions)	Credit Card		Auto
September 30, 2023:
Securities held by third-party investors	$	13,772	$	3,645
Receivables in the trusts	25,532		4,295
Cash balance of spread or reserve accounts	0		20
Retained interests	Yes		Yes
Servicing retained	Yes		Yes
December 31, 2022:
Securities held by third-party investors	$	12,976	$	3,997
Receivables in the trusts	24,367		4,682
Cash balance of spread or reserve accounts	0		23
Retained interests	Yes		Yes
Servicing retained	Yes		Yes

Credit Card Securitizations

We securitize a portion of our credit card loans which provides a source of funding for us. Credit card securitizations involve the transfer of credit card receivables to securitization trusts. These trusts then issue debt securities collateralized by the transferred receivables to third-party investors. We hold certain retained interests in our credit card securitizations and continue to service the receivables in these trusts. We consolidate these trusts because we are deemed to be the primary beneficiary as we have the power to direct the activities that most significantly impact the economic performance of the trusts, and the right to receive benefits or the obligation to absorb losses that could potentially be significant to the trusts.

Auto Securitizations

Similar to our credit card securitizations, we securitize a portion of our auto loans which provides a source of funding for us. Auto securitizations involve the transfer of auto loans to securitization trusts. These trusts then issue debt securities collateralized by the transferred loans to third-party investors. We hold certain retained interests and continue to service the loans in these trusts. We consolidate these trusts because we are deemed to be the primary beneficiary as we have the power to direct the activities that most significantly impact the economic performance of the trusts, and the right to receive benefits or the obligation to absorb losses that could potentially be significant to the trusts.

Other VIEs

Affordable Housing Entities

As part of our community reinvestment initiatives, we invest in private investment funds that make equity investments in multifamily affordable housing properties. We receive affordable housing tax credits for these investments. The activities of these entities are financed with a combination of invested equity capital and debt. We account for certain investments in qualified affordable housing projects using the proportional amortization method if certain criteria are met. The proportional amortization method amortizes the cost of the investment over the period in which the investor expects to receive tax credits and other tax benefits, and the resulting amortization is recognized as a component of income tax expense attributable to continuing operations. For the nine months ended September 30, 2023 and 2022, we recognized amortization of $522 million and $484 million, respectively, and tax credits of $652 million and $582 million, respectively, associated with these investments within income tax provision. The carrying value of our equity investments in these qualified affordable housing projects was $5.3 billion and $4.9 billion as of September 30, 2023 and December 31, 2022, respectively. We are periodically required to provide additional financial or other support during the period of the investments. Our liability for these unfunded

commitments was $2.2 billion and $1.8 billion as of September 30, 2023 and December 31, 2022 respectively, and is largely expected to be paid from 2023 to 2026.

For those investment funds considered to be VIEs, we are not required to consolidate them if we do not have the power to direct the activities that most significantly impact the economic performance of those entities. We record our interests in these unconsolidated VIEs in loans held for investment, other assets and other liabilities on our consolidated balance sheets. Our maximum exposure to these entities is limited to our variable interests in the entities which consisted of assets of approximately $5.6 billion and $4.9 billion as of September 30, 2023 and December 31, 2022, respectively. The creditors of the VIEs have no recourse to our general credit and we do not provide additional financial or other support other than during the period that we are contractually required to provide it. The total assets of the unconsolidated VIE investment funds were approximately $12.6 billion and $12.5 billion as of September 30, 2023 and December 31, 2022, respectively.

Entities that Provide Capital to Low-Income and Rural Communities

We hold variable interests in entities (“Investor Entities”) that invest in community development entities (“CDEs”) that provide debt financing to businesses and non-profit entities in low-income and rural communities. Variable interests in the CDEs held by the consolidated Investor Entities are also our variable interests. The activities of the Investor Entities are financed with a combination of invested equity capital and debt. The activities of the CDEs are financed solely with invested equity capital. We receive federal and state tax credits for these investments. We consolidate the VIEs in which we have the power to direct the activities that most significantly impact the VIE’s economic performance and where we have the obligation to absorb losses or right to receive benefits that could be potentially significant to the VIE. We consolidate other investments and CDEs that are not considered to be VIEs, but where we hold a controlling financial interest. The assets of the VIEs that we consolidated, which totaled approximately $2.5 billion and $2.3 billion as of September 30, 2023 and December 31, 2022, respectively, are reflected on our consolidated balance sheets in cash, loans held for investment, and other assets. The liabilities are reflected in other liabilities. The creditors of the VIEs have no recourse to our general credit. We have not provided additional financial or other support other than during the period that we are contractually required to provide it.

Other

We hold variable interests in other VIEs, including companies that promote renewable energy sources and other equity method investments. We are not required to consolidate these VIEs because we do not have the power to direct the activities that most significantly impact their economic performance. Our maximum exposure to these VIEs is limited to the investments on our consolidated balance sheets of $466 million and $337 million as of September 30, 2023 and December 31, 2022, respectively. The creditors of the other VIEs have no recourse to our general credit. We have not provided additional financial or other support other than during the period that we are contractually required to provide it.

Commitments, Contingencies, Guarantees, and Others - Litigation (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) claim
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 200
Interchange litigation \| Pending litigation
Loss Contingencies [Line Items]
Litigation settlement, attributable to reporting entity and third party	$ 5,500
Cybersecurity Incident
Loss Contingencies [Line Items]
Number of consumer class action cases filed for Cybersecurity Incident \| claim	5
Penalty Paid to the US Treasury	$ 80

Derivative Instruments and Hedging Activities - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Notional or contractual amount	$ 274,925	$ 227,801
Derivative assets, gross amount	3,381	3,098
Derivative liabilities, gross amount	3,699	4,550
Derivative asset, netting adjustments	(1,471)	(1,134)
Derivative liability, netting adjustments	(632)	(1,235)
Total derivative assets	1,910	1,964
Total derivative liabilities	3,067	3,315
Net valuation allowance on derivative assets and liabilities for non-performance risk	1	4
Derivatives designated as accounting hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	136,569	98,966
Derivative assets, gross amount	307	85
Derivative liabilities, gross amount	307	820
Derivatives designated as accounting hedges \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional or contractual amount	128,273	91,306
Derivative assets, gross amount	157	3
Derivative liabilities, gross amount	20	504
Derivatives designated as accounting hedges \| Interest rate contracts \| Fair value hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	67,173	60,956
Derivative assets, gross amount	40	3
Derivative liabilities, gross amount	10	53
Derivatives designated as accounting hedges \| Interest rate contracts \| Cash flow hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	61,100	30,350
Derivative assets, gross amount	117	0
Derivative liabilities, gross amount	10	451
Derivatives designated as accounting hedges \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Notional or contractual amount	8,296	7,660
Derivative assets, gross amount	150	82
Derivative liabilities, gross amount	287	316
Derivatives designated as accounting hedges \| Foreign exchange contracts \| Fair value hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	1,322	1,338
Derivative assets, gross amount	0	0
Derivative liabilities, gross amount	208	211
Derivatives designated as accounting hedges \| Foreign exchange contracts \| Cash flow hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	2,356	2,175
Derivative assets, gross amount	69	4
Derivative liabilities, gross amount	1	14
Derivatives designated as accounting hedges \| Foreign exchange contracts \| Net investment hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	4,618	4,147
Derivative assets, gross amount	81	78
Derivative liabilities, gross amount	78	91
Derivatives not designated as accounting hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	138,356	128,835
Derivative assets, gross amount	3,074	3,013
Derivative liabilities, gross amount	3,392	3,730
Derivatives not designated as accounting hedges \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	134,898	125,462
Derivative assets, gross amount	3,031	2,970
Derivative liabilities, gross amount	3,363	3,689
Derivatives not designated as accounting hedges \| Interest rate contracts \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	98,191	91,601
Derivative assets, gross amount	1,609	1,140
Derivative liabilities, gross amount	1,986	1,873
Derivatives not designated as accounting hedges \| Interest rate contracts \| Other interest rate exposures
Derivatives, Fair Value [Line Items]
Notional or contractual amount	743	1,135
Derivative assets, gross amount	27	34
Derivative liabilities, gross amount	19	22
Derivatives not designated as accounting hedges \| Foreign exchange contracts \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	4,576	4,926
Derivative assets, gross amount	68	74
Derivative liabilities, gross amount	42	78
Derivatives not designated as accounting hedges \| Commodity contracts \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	32,131	28,935
Derivative assets, gross amount	1,354	1,756
Derivative liabilities, gross amount	1,335	1,738
Derivatives not designated as accounting hedges \| Other contracts
Derivatives, Fair Value [Line Items]
Notional or contractual amount	2,715	2,238
Derivative assets, gross amount	16	9
Derivative liabilities, gross amount	$ 10	$ 19

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,790			$ 1,694			$ 4,181	$ 6,128
Other comprehensive income (loss), net of tax:
Net unrealized losses on securities available for sale	(2,108)			(2,935)			(2,034)	(8,476)
Net unrealized losses on hedging relationships	(259)			(804)			(282)	(2,496)
Foreign currency translation adjustments	(39)			(48)			8	(105)
Other	0			(1)			0	(1)
Other comprehensive loss, net of tax	(2,406)			(3,788)			(2,308)	(11,078)
Comprehensive income (loss)	$ (616)	$ 153	$ 2,336	$ (2,094)	$ (792)	$ (2,064)	$ 1,873	$ (4,950)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Components of Goodwill, Intangible Assets and MSRs

The table below presents our goodwill, other intangible assets and MSRs as of September 30, 2023 and December 31, 2022. Goodwill is presented separately, while other intangible assets and MSRs are included in other assets on our consolidated balance sheets.

Table 6.1: Components of Goodwill, Other Intangible Assets and MSRs


	September 30, 2023
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount
Goodwill	$	15,048	N/A		$	15,048
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	369		$	(76)	293

Other(1)	171		(132)		39
Total other intangible assets	540		(208)		332
Total goodwill and other intangible assets	$	15,588	$	(208)	$	15,380
Commercial MSRs(2)	$	654	$	(249)	$	405

	December 31, 2022
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount
Goodwill	$	14,777	N/A		$	14,777
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	147		$	(26)	121

Other(1)	195		(157)		38
Total other intangible assets	342		(183)		159
Total goodwill and other intangible assets	$	15,119	$	(183)	$	14,936
Commercial MSRs(2)	$	660	$	(223)	$	437

__________

(1)Primarily consists of intangibles for sponsorship, customer and merchant relationships, domain names and licenses.

(2)Commercial MSRs are accounted for under the amortization method on our consolidated balance sheets.

Goodwill by Business Segments

Goodwill

The following table presents changes in the carrying amount of goodwill by each of our business segments for the nine months ended September 30, 2023.

Table 6.2: Goodwill by Business Segments


(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total








Balance as of December 31, 2022	$	5,078	$	4,645	$	5,054	$	14,777
Acquisitions	273		0		0		273

Other adjustments(1)	(2)		0		0		(2)
Balance as of September 30, 2023	$	5,349	$	4,645	$	5,054	$	15,048

__________

(1)Represents foreign currency translation adjustments and measurement period adjustments.

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Schedule of Preferred Stock

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

The following table summarizes our preferred stock outstanding as of September 30, 2023 and December 31, 2022.

Table 9.1: Preferred Stock Outstanding(1)


			Redeemable by Issuer Beginning	Per Annum Dividend Rate	Dividend Frequency	Liquidation Preference per Share		Total Shares Outstanding as of September 30, 2023	Carrying Value (in millions)
Series	Description	Issuance Date							September 30, 2023		December 31, 2022



Series I	5.000% Non-Cumulative	September 11, 2019	December 1, 2024	5.000%	Quarterly	$	1,000	1,500,000	$	1,462	$	1,462
Series J	4.800% Non-Cumulative	January 31, 2020	June 1, 2025	4.800	Quarterly	1,000		1,250,000	1,209		1,209
Series K	4.625% Non-Cumulative	September 17, 2020	December 1, 2025	4.625	Quarterly	1,000		125,000	122		122
Series L	4.375% Non-Cumulative	May 4, 2021	September 1, 2026	4.375	Quarterly	1,000		675,000	652		652
Series M	3.950% Fixed Rate Reset Non-Cumulative	June 10, 2021	September 1, 2026	3.950% through 8/31/2026; resets 9/1/2026 and every subsequent 5 year anniversary at 5-Year Treasury Rate +3.157%	Quarterly	1,000		1,000,000	988		988
Series N	4.250% Non-Cumulative	July 29, 2021	September 1, 2026	4.250%	Quarterly	1,000		425,000	412		412
Total									$	4,845	$	4,845

__________

(1)Except for Series M, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock.

Change in AOCI Gain (Loss) by Component (Net of Tax)

The following table presents the changes in AOCI by component for the three and nine months ended September 30, 2023 and 2022.

Table 9.2: AOCI


	Three Months Ended September 30, 2023
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of June 30, 2023	$	(7,602)	$	(2,205)	$	27	$	(38)	$	(9,818)
Other comprehensive income (loss) before reclassifications	(2,108)		(424)		(39)		0		(2,571)
Amounts reclassified from AOCI into earnings	0		165		0		0		165
Other comprehensive income (loss), net of tax	(2,108)		(259)		(39)		0		(2,406)
AOCI as of September 30, 2023	$	(9,710)	$	(2,464)	$	(12)	$	(38)	$	(12,224)


	Nine Months Ended September 30, 2023
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of December 31, 2022	$	(7,676)	$	(2,182)	$	(20)	$	(38)	$	(9,916)
Other comprehensive income (loss) before reclassifications	(2,034)		(890)		8		0		(2,916)
Amounts reclassified from AOCI into earnings	0		608		0		0		608
Other comprehensive income (loss), net of tax	(2,034)		(282)		8		0		(2,308)
AOCI as of September 30, 2023	$	(9,710)	$	(2,464)	$	(12)	$	(38)	$	(12,224)


	Three Months Ended September 30, 2022
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of June 30, 2022	$	(5,244)	$	(1,574)	$	(78)	$	(20)	$	(6,916)
Other comprehensive income (loss) before reclassifications	(2,937)		(809)		(48)		0		(3,794)
Amounts reclassified from AOCI into earnings	2		5		0		(1)		6
Other comprehensive loss, net of tax	(2,935)		(804)		(48)		(1)		(3,788)
AOCI as of September 30, 2022	$	(8,179)	$	(2,378)	$	(126)	$	(21)	$	(10,704)


	Nine Months Ended September 30, 2022
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of December 31, 2021	$	297	$	118	$	(21)	$	(20)	$	374
Other comprehensive income (loss) before reclassifications	(8,483)		(2,344)		(105)		0		(10,932)
Amounts reclassified from AOCI into earnings	7		(152)		0		(1)		(146)
Other comprehensive income (loss), net of tax	(8,476)		(2,496)		(105)		(1)		(11,078)
AOCI as of September 30, 2022	$	(8,179)	$	(2,378)	$	(126)	$	(21)	$	(10,704)

__________

(1)Includes amounts related to cash flow hedges as well as the excluded component of cross-currency swaps designated as fair value hedges.

(2)Includes other comprehensive gains of $115 million and losses of $1 million for the three and nine months ended September 30, 2023, respectively, and other comprehensive gains of $255 million and $477 million for the three and nine months ended September 30, 2022, respectively, from hedging instruments designated as net investment hedges.

Reclassifications from AOCI

The following table presents amounts reclassified from each component of AOCI to our consolidated statements of income for the three and nine months ended September 30, 2023 and 2022.

Table 9.3: Reclassifications from AOCI


(Dollars in millions)		Three Months Ended September 30,				Nine Months Ended September 30,
AOCI Components	Affected Income Statement Line Item	2023		2022		2023		2022
Securities available for sale:
	Non-interest income (loss)	$	0	$	(3)	$	0	$	(9)
	Income tax provision (benefit)	0		(1)		0		(2)
	Net income (loss)	0		(2)		0		(7)
Hedging relationships:
Interest rate contracts:	Interest income (loss)	(320)		(86)		(879)		104
Foreign exchange contracts:	Interest income	3		2		9		1
	Interest expense	(1)		(1)		(2)		(2)
	Non-interest income	100		79		70		97
	Loss from continuing operations before income taxes	(218)		(6)		(802)		200
	Income tax benefit	(53)		(1)		(194)		48
	Net income (loss)	(165)		(5)		(608)		152
Other:
	Non-interest income and non-interest expense	0		1		0		1

	Net income	0		1		0		1
Total reclassifications		$	(165)	$	(6)	$	(608)	$	146

Components of Other Comprehensive Income (Loss) and Related Tax Impact

The table below summarizes other comprehensive income (loss) activity and the related tax impact for the three and nine months ended September 30, 2023 and 2022.

Table 9.4: Other Comprehensive Income (Loss)


	Three Months Ended September 30,
	2023						2022
(Dollars in millions)	Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax
Other comprehensive income (loss):
Net unrealized losses on securities available for sale	$	(2,780)	$	(672)	$	(2,108)	$	(3,882)	$	(947)	$	(2,935)
Net unrealized losses on hedging relationships	(342)		(83)		(259)		(1,065)		(261)		(804)
Foreign currency translation adjustments(1)	(2)		37		(39)		33		81		(48)
Other	0		0		0		(1)		0		(1)
Other comprehensive loss	$	(3,124)	$	(718)	$	(2,406)	$	(4,915)	$	(1,127)	$	(3,788)


	Nine Months Ended September 30,
	2023						2022
(Dollars in millions)	Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax
Other comprehensive income (loss):
Net unrealized losses on securities available for sale	$	(2,684)	$	(650)	$	(2,034)	$	(11,181)	$	(2,705)	$	(8,476)
Net unrealized losses on hedging relationships	(372)		(90)		(282)		(3,292)		(796)		(2,496)
Foreign currency translation adjustments(1)	8		0		8		47		152		(105)
Other	0		0		0		(1)		0		(1)
Other comprehensive loss	$	(3,048)	$	(740)	$	(2,308)	$	(14,427)	$	(3,349)	$	(11,078)

__________

(1)Includes the impact of hedging instruments designated as net investment hedges.

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities - Hedged Items in Fair Value Hedging Relationship (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Hedged Items In Fair Value Hedging Relationship [Line Items]
Hedged Assets, Fair Value Hedge, Cumulative Increase (Decrease)	$ (10)	$ (13)
Hedged Assets, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	870	236
Prepayable Financial Asset Closed Portfolio, Last-of-Layer, Amortized Cost	655	225
Available-for-sale securities
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount of Assets	4,608	3,983
Hedged Assets, Fair Value Hedge, Cumulative Increase (Decrease)	(102)	(80)
Hedged Assets, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	144	200
Interest-bearing deposits
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount Of Liabilities	(17,225)	(17,280)
Hedged Liabilities, Fair Value Hedge, Cumulative Increase (Decrease)	580	500
Hedged Liabilities, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	(1)	(1)
Securitized debt obligations
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount Of Liabilities	(13,117)	(11,921)
Hedged Liabilities, Fair Value Hedge, Cumulative Increase (Decrease)	757	748
Hedged Liabilities, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	0	0
Senior and subordinated notes
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount Of Liabilities	(30,035)	(24,544)
Hedged Liabilities, Fair Value Hedge, Cumulative Increase (Decrease)	1,931	1,542
Hedged Liabilities, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	$ (413)	$ (527)

Business Segments and Revenue from Contracts with Customers - Segment Results and Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net interest income (loss)	$ 7,423	$ 7,003	$ 21,722	$ 19,917
Non-interest income	1,943	1,802	5,559	5,293
Total net revenue (loss)	9,366	8,805	27,281	25,210
Change in estimated partner reimbursements that decreased/(increased) provision for credit losses	2,284	1,669	7,569	3,431
Non-interest expense	4,860	4,949	14,599	14,083
Loss from continuing operations before income taxes	2,222	2,187	5,113	7,696
Income tax provision (benefit)	432	493	932	1,568
Income (loss) from continuing operations, net of tax	1,790	1,694	4,181	6,128
Total loans held for investment	314,780	303,943	314,780	303,943	$ 312,331
Total Deposits	346,011	317,193	346,011	317,193	$ 332,992
Uncollectible portion of billed finance charges and fees	449	222	1,300	625
Operating segments \| Credit Card
Segment Reporting Information [Line Items]
Net interest income (loss)	5,114	4,313	14,498	12,051
Non-interest income	1,513	1,454	4,375	4,322
Total net revenue (loss)	6,627	5,767	18,873	16,373
Change in estimated partner reimbursements that decreased/(increased) provision for credit losses	1,953	1,261	6,298	2,387
Non-interest expense	3,015	3,004	9,073	8,558
Loss from continuing operations before income taxes	1,659	1,502	3,502	5,428
Income tax provision (benefit)	393	356	830	1,291
Income (loss) from continuing operations, net of tax	1,266	1,146	2,672	4,137
Total loans held for investment	146,783	126,913	146,783	126,913
Total Deposits	0	0	0	0
Operating segments \| Consumer Banking
Segment Reporting Information [Line Items]
Net interest income (loss)	2,133	2,311	6,762	6,571
Non-interest income	142	129	426	330
Total net revenue (loss)	2,275	2,440	7,188	6,901
Change in estimated partner reimbursements that decreased/(increased) provision for credit losses	213	285	747	696
Non-interest expense	1,262	1,340	3,776	3,862
Loss from continuing operations before income taxes	800	815	2,665	2,343
Income tax provision (benefit)	189	193	629	555
Income (loss) from continuing operations, net of tax	611	622	2,036	1,788
Total loans held for investment	76,844	81,199	76,844	81,199
Total Deposits	290,789	256,661	290,789	256,661
Operating segments \| Commercial Banking
Segment Reporting Information [Line Items]
Net interest income (loss)	621	699	1,901	1,941
Non-interest income	288	319	757	868
Total net revenue (loss)	909	1,018	2,658	2,809
Change in estimated partner reimbursements that decreased/(increased) provision for credit losses	116	123	521	353
Non-interest expense	512	542	1,524	1,515
Loss from continuing operations before income taxes	281	353	613	941
Income tax provision (benefit)	67	83	145	223
Income (loss) from continuing operations, net of tax	214	270	468	718
Total loans held for investment	91,153	95,831	91,153	95,831
Total Deposits	36,035	41,058	36,035	41,058
Other
Segment Reporting Information [Line Items]
Net interest income (loss)	(445)	(320)	(1,439)	(646)
Non-interest income	0	(100)	1	(227)
Total net revenue (loss)	(445)	(420)	(1,438)	(873)
Change in estimated partner reimbursements that decreased/(increased) provision for credit losses	2	0	3	(5)
Non-interest expense	71	63	226	148
Loss from continuing operations before income taxes	(518)	(483)	(1,667)	(1,016)
Income tax provision (benefit)	(217)	(139)	(672)	(501)
Income (loss) from continuing operations, net of tax	(301)	(344)	(995)	(515)
Total loans held for investment	0	0	0	0
Total Deposits	$ 19,187	$ 19,474	$ 19,187	$ 19,474

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividend per share on common stock declared (in dollars per share)	$ 0.60	$ 1.80

Business Segments and Revenue from Contracts with Customers - Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total contract revenue	$ 1,475	$ 1,415	$ 4,169	$ 4,055
Revenue (reduction) from other sources	468	387	1,390	1,238
Non-interest income (loss)	1,943	1,802	5,559	5,293
Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	1,226	1,189	3,508	3,412
Revenue (reduction) from other sources	287	265	867	910
Non-interest income (loss)	1,513	1,454	4,375	4,322
Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	141	124	408	360
Revenue (reduction) from other sources	1	5	18	(30)
Non-interest income (loss)	142	129	426	330
Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	108	102	253	283
Revenue (reduction) from other sources	180	217	504	585
Non-interest income (loss)	288	319	757	868
Other
Disaggregation of Revenue [Line Items]
Total contract revenue	0	0	0	0
Revenue (reduction) from other sources	0	(100)	1	(227)
Non-interest income (loss)	0	(100)	1	(227)
Interchange fees, net
Disaggregation of Revenue [Line Items]
Total contract revenue	1,234	1,195	3,586	3,429
Interchange fees, net \| Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	1,115	1,085	3,251	3,115
Interchange fees, net \| Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	92	83	270	234
Interchange fees, net \| Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	27	27	64	79
Interchange fees, net \| Other
Disaggregation of Revenue [Line Items]
Total contract revenue	0	0	1	1
Service charges and other customer-related fees
Disaggregation of Revenue [Line Items]
Total contract revenue	99	85	236	259
Service charges and other customer-related fees \| Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	0	0	0	0
Service charges and other customer-related fees \| Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	21	23	64	70
Service charges and other customer-related fees \| Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	78	62	173	190
Service charges and other customer-related fees \| Other
Disaggregation of Revenue [Line Items]
Total contract revenue	0	0	(1)	(1)
Other
Disaggregation of Revenue [Line Items]
Total contract revenue	142	135	347	367
Other \| Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	111	104	257	297
Other \| Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	28	18	74	56
Other \| Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	3	13	16	14
Other \| Other
Disaggregation of Revenue [Line Items]
Total contract revenue	$ 0	$ 0	$ 0	$ 0

Fair Value Measurement - Additional Information (Details) - Appraisal value - Level 3 - Non-Recoverable Rate	Sep. 30, 2023	Dec. 31, 2022
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment, measurement input	0.00%	0.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment, measurement input	100.00%	43.00%
Weighted average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment, measurement input	19.00%	20.00%

Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities


NOTE 8—DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Use of Derivatives and Accounting for Derivatives

We regularly enter into derivative transactions to support our overall risk management activities. Our primary market risks stem from the impact on our earnings and economic value of equity due to changes in interest rates and, to a lesser extent, changes in foreign exchange rates. We manage our interest rate sensitivity by employing several techniques, which include changing the duration and re-pricing characteristics of various assets and liabilities by using interest rate derivatives. We also use foreign currency derivatives to limit our earnings and capital exposures to foreign exchange risk by hedging exposures denominated in foreign currencies. We primarily use interest rate and foreign currency swaps to hedge, but we may also use a variety of other derivative instruments, including caps, floors, options, futures and forward contracts, to manage our interest rate and foreign exchange risks. We designate these risk management derivatives as either qualifying accounting hedges or free-standing derivatives. Qualifying accounting hedges are further designated as fair value hedges, cash flow hedges or net investment hedges. Free-standing derivatives are economic hedges that do not qualify for hedge accounting.

We also offer interest rate, commodity, foreign currency derivatives and other contracts as an accommodation to our customers within our Commercial Banking business. We enter into these derivatives with our customers primarily to help them manage their interest rate risks, hedge their energy and other commodities exposures, and manage foreign currency fluctuations. We offset the substantial majority of the market risk exposure of our customer accommodation derivatives through derivative transactions with other counterparties.

See below for additional information on our use of derivatives and how we account for them:

•Fair Value Hedges: We designate derivatives as fair value hedges when they are used to manage our exposure to changes in the fair value of certain financial assets and liabilities, which fluctuate in value as a result of movements in interest rates. Changes in the fair value of derivatives designated as fair value hedges are presented in the same line item in our consolidated statements of income as the earnings effect of the hedged items. Our fair value hedges primarily consist of interest rate swaps that are intended to modify our exposure to interest rate risk on various fixed-rate financial assets and liabilities.

•Cash Flow Hedges: We designate derivatives as cash flow hedges when they are used to manage our exposure to variability in cash flows related to forecasted transactions. Changes in the fair value of derivatives designated as cash flow hedges are recorded as a component of accumulated other comprehensive income (“AOCI”). Those amounts are reclassified into earnings in the same period during which the hedged forecasted transactions impact earnings and presented in the same line item in our consolidated statements of income as the earnings effect of the hedged items. Our cash flow hedges use interest rate swaps and floors that are intended to hedge the variability in interest receipts or interest payments on some of our variable-rate financial assets or liabilities. We also enter into foreign currency forward contracts to hedge our exposure to variability in cash flows related to intercompany borrowings denominated in foreign currencies.

•Net Investment Hedges: We use net investment hedges to manage the foreign currency exposure related to our net investments in foreign operations that have functional currencies other than the U.S. dollar. Changes in the fair value of net investment hedges are recorded in the translation adjustment component of AOCI, offsetting the translation gain or loss from those foreign operations. We execute net investment hedges using foreign currency forward contracts to hedge the translation exposure of the net investment in our foreign operations under the forward method.

•Free-Standing Derivatives: Our free-standing derivatives primarily consist of our customer accommodation derivatives and other economic hedges. The customer accommodation derivatives and the related offsetting contracts are mainly interest rate, commodity and foreign currency contracts. The other free-standing derivatives are primarily used to economically hedge the risk of changes in the fair value of our commercial mortgage loan origination and purchase commitments as well as other interests held. Changes in the fair value of free-standing derivatives are recorded in earnings as a component of other non-interest income.

Derivatives Counterparty Credit Risk

Counterparty Types

Derivative instruments contain an element of credit risk that stems from the potential failure of a counterparty to perform according to the terms of the contract, including making payments due upon maturity of certain derivative instruments. We execute our derivative contracts primarily in over-the-counter (“OTC”) markets. We also execute interest rate and commodity futures in the exchange-traded derivative markets. Our OTC derivatives consist of both trades cleared through central counterparty clearinghouses (“CCPs”) and uncleared bilateral contracts. The Chicago Mercantile Exchange (“CME”), the Intercontinental Exchange (“ICE”) and the LCH Group (“LCH”) are our CCPs for our centrally cleared contracts. In our uncleared bilateral contracts, we enter into agreements directly with our derivative counterparties.

Counterparty Credit Risk Management

We manage the counterparty credit risk associated with derivative instruments by entering into legally enforceable master netting agreements, where applicable, and exchanging collateral with our counterparties, typically in the form of cash or high-quality liquid securities. We exchange collateral in two primary forms: variation margin, which mitigates the risk of changes in value due to daily market movements and is exchanged daily, and initial margin, which mitigates the risk of potential future exposure of a derivative and is exchanged at the outset of a transaction and adjusted daily. We exchange variation margin and initial margin on our cleared derivatives. For uncleared bilateral derivatives executed after September 1, 2021 and in scope for initial margin, we exchange variation margin and initial margin.

The amount of collateral exchanged for variation margin is dependent upon the fair value of the derivative instruments as well as the fair value of the pledged collateral and will vary over time as market variables change. The amount of the initial margin exchanged is dependent upon 1) the calculation of initial margin exposure, as prescribed by 1(a) the U.S. prudential regulators’ margin rules for uncleared derivatives (“PR Rules”) or 1(b) the CCPs for cleared derivatives and 2) the fair value of the pledged collateral; it will vary over time as market variables change. When valuing collateral, an estimate of the variation in price and liquidity over time is subtracted in the form of a “haircut” to discount the value of the collateral pledged. Our exposure to derivative counterparty credit risk, at any point in time, is equal to the amount reported as a derivative asset on our balance sheet. The fair value of our derivatives is adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and any associated collateral received or pledged. See Table 8.3 for our net exposure associated with derivatives.

The terms under which we collateralize our exposures differ between cleared exposures and uncleared bilateral exposures.

•CCPs: We clear eligible OTC derivatives with CCPs as part of our regulatory requirements. We also clear exchange-traded instruments, like futures, with CCPs. Futures commission merchants (“FCMs”) serve as the intermediary between CCPs and us. CCPs require that we post initial and variation margin through our FCMs to mitigate the risk of non-payment or default. Initial margin is required by CCPs as collateral against potential losses on our exchange-traded and cleared derivative contracts and variation margin is exchanged on a daily basis to account for mark-to-market changes in those derivative contracts. For CME, ICE and LCH-cleared OTC derivatives, variation margin cash payments are required to be characterized as settlements. Our FCM agreements governing these derivative transactions include provisions that may require us to post additional collateral under certain circumstances.

•Bilateral Counterparties: We enter into master netting agreements and collateral agreements with bilateral derivative counterparties, where applicable, to mitigate the risk of default. These bilateral agreements typically provide the right to offset exposure with the same counterparty and require the party in a net liability position to post collateral. Agreements with certain bilateral counterparties require both parties to maintain collateral in the event the fair values of uncleared derivatives exceed established exposure thresholds. Certain of these bilateral agreements include provisions requiring that our debt maintain a credit rating of investment grade or above by each of the major credit rating agencies. In the event of a downgrade of our debt credit rating below investment grade, some of our counterparties would have the right to terminate their derivative contract and close out existing positions.

Credit Risk Valuation Adjustments

We record counterparty credit valuation adjustments (“CVAs”) on our derivative assets to reflect the credit quality of our counterparties. We consider collateral and legally enforceable master netting agreements that mitigate our credit exposure to each counterparty in determining CVAs, which may be adjusted due to changes in the fair values of the derivative contracts, collateral, and creditworthiness of the counterparty. We also record debit valuation adjustments (“DVAs”) to adjust the fair values of our derivative liabilities to reflect the impact of our own credit quality.

Balance Sheet Presentation

The following table summarizes the notional amounts and fair values of our derivative instruments as of September 30, 2023 and December 31, 2022, which are segregated by derivatives that are designated as accounting hedges and those that are not, and are further segregated by type of contract within those two categories. The total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and any associated cash collateral received or pledged. Derivative assets and liabilities are included in other assets and other liabilities, respectively, on our consolidated balance sheets, and their related gains or losses are included in operating activities as changes in other assets and other liabilities in the consolidated statements of cash flows.

Table 8.1: Derivative Assets and Liabilities at Fair Value


	September 30, 2023						December 31, 2022
	Notional or Contractual Amount		Derivative(1)				Notional or Contractual Amount		Derivative(1)
(Dollars in millions)			Assets		Liabilities				Assets		Liabilities
Derivatives designated as accounting hedges:
Interest rate contracts:
Fair value hedges	$	67,173	$	40	$	10	$	60,956	$	3	$	53
Cash flow hedges	61,100		117		10		30,350		0		451
Total interest rate contracts	128,273		157		20		91,306		3		504
Foreign exchange contracts:
Fair value hedges	1,322		0		208		1,338		0		211
Cash flow hedges	2,356		69		1		2,175		4		14
Net investment hedges	4,618		81		78		4,147		78		91
Total foreign exchange contracts	8,296		150		287		7,660		82		316
Total derivatives designated as accounting hedges	136,569		307		307		98,966		85		820
Derivatives not designated as accounting hedges:
Customer accommodation:
Interest rate contracts	98,191		1,609		1,986		91,601		1,140		1,873
Commodity contracts	32,131		1,354		1,335		28,935		1,756		1,738
Foreign exchange and other contracts	4,576		68		42		4,926		74		78
Total customer accommodation	134,898		3,031		3,363		125,462		2,970		3,689
Other interest rate exposures(2)	743		27		19		1,135		34		22
Other contracts	2,715		16		10		2,238		9		19
Total derivatives not designated as accounting hedges	138,356		3,074		3,392		128,835		3,013		3,730
Total derivatives	$	274,925	$	3,381	$	3,699	$	227,801	$	3,098	$	4,550
Less: netting adjustment(3)			(1,471)		(632)				(1,134)		(1,235)
Total derivative assets/liabilities			$	1,910	$	3,067			$	1,964	$	3,315

__________

(1)Does not reflect approximately $1 million and $4 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of September 30, 2023 and December 31, 2022, respectively. Non-performance risk is included in derivative assets and liabilities, which are part of other assets and other liabilities on the consolidated balance sheets, and is offset through non-interest income in the consolidated statements of income.

(2)Other interest rate exposures include commercial mortgage-related derivatives and interest rate swaps.

(3)Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty.

The following table summarizes the carrying value of our hedged assets and liabilities in fair value hedges and the associated cumulative basis adjustments included in those carrying values, excluding basis adjustments related to foreign currency risk, as of September 30, 2023 and December 31, 2022.

Table 8.2: Hedged Items in Fair Value Hedging Relationships


	September 30, 2023						December 31, 2022
	Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount				Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount
(Dollars in millions)			Total Assets/(Liabilities)		Discontinued-Hedging Relationships				Total Assets/(Liabilities)		Discontinued-Hedging Relationships
Line item on our consolidated balance sheets in which the hedged item is included:
Investment securities available for sale(1)(2)	$	4,608	$	(102)	$	144	$	3,983	$	(80)	$	200
Interest-bearing deposits	(17,225)		580		(1)		(17,280)		500		(1)
Securitized debt obligations	(13,117)		757		0		(11,921)		748		0
Senior and subordinated notes	(30,035)		1,931		(413)		(24,544)		1,542		(527)

__________

(1)These amounts include the amortized cost basis of our investment securities designated in hedging relationships for which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. The amortized cost basis of this portfolio was $870 million and $236 million as of September 30, 2023 and December 31, 2022, respectively. The amount of the designated hedged items was $655 million and $225 million as of September 30, 2023 and December 31, 2022, respectively. The cumulative basis adjustments associated with these hedges was $10 million and $13 million as of September 30, 2023 and December 31, 2022, respectively.

(2)Carrying value represents amortized cost.

Balance Sheet Offsetting of Financial Assets and Liabilities

Derivative contracts and repurchase agreements that we execute bilaterally in the OTC market are generally governed by enforceable master netting agreements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under master netting agreements for balance sheet presentation where a right of setoff exists. For derivative contracts entered into under master netting agreements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting agreements, we do not offset our derivative positions for balance sheet presentation.

The following table presents the gross and net fair values of our derivative assets, derivative liabilities, resale and repurchase agreements and the related offsetting amounts permitted under U.S. GAAP as of September 30, 2023 and December 31, 2022. The table also includes cash and non-cash collateral received or pledged in accordance with such arrangements. The amount of collateral presented, however, is limited to the amount of the related net derivative fair values or outstanding balances; therefore, instances of over-collateralization are excluded.

Table 8.3: Offsetting of Financial Assets and Financial Liabilities


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Held Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Received
As of September 30, 2023
Derivative assets(1)	$	3,381	$	(388)	$	(1,083)	$	1,910	$	(77)	$	1,833
As of December 31, 2022
Derivative assets(1)	3,098		(759)		(375)		1,964		(96)		1,868


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Pledged Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Pledged
As of September 30, 2023
Derivative liabilities(1)	$	3,699	$	(388)	$	(244)	$	3,067	$	(79)	$	2,988
Repurchase agreements(2)	522		0		0		522		(522)		0
As of December 31, 2022
Derivative liabilities(1)	4,550		(759)		(476)		3,315		(85)		3,230
Repurchase agreements(2)	883		0		0		883		(883)		0

__________

(1)We received cash collateral from derivative counterparties totaling $1.6 billion and $608 million as of September 30, 2023 and December 31, 2022, respectively. We also received securities from derivative counterparties with a fair value of approximately $72 million and $82 million as of September 30, 2023 and December 31, 2022, respectively, which we have the ability to re-pledge. We posted $2.0 billion and $2.3 billion of cash collateral as of September 30, 2023 and December 31, 2022, respectively.

(2)Under our customer repurchase agreements, which mature the next business day, we pledged collateral with a fair value of $528 million and $900 million as of September 30, 2023 and December 31, 2022, respectively, primarily consisting of agency RMBS securities.

Income Statement and AOCI Presentation

Fair Value and Cash Flow Hedges

The net gains (losses) recognized in our consolidated statements of income related to derivatives in fair value and cash flow hedging relationships are presented below for the three and nine months ended September 30, 2023 and 2022.

Table 8.4: Effects of Fair Value and Cash Flow Hedge Accounting



	Three Months Ended September 30, 2023
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	627	$	9,696	$	550	$	(2,611)	$	(249)	$	(579)	$	256
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	42	$	0	$	0	$	(104)	$	(112)	$	(275)	$	0
Gains (losses) recognized on derivatives	(15)		0		0		(38)		4		(273)		(42)
Gains (losses) recognized on hedged items(1)	(6)		0		0		38		(4)		313		42



	Three Months Ended September 30, 2023
	Net Interest Income												Non-Interest Income
Excluded component of fair value hedges(2)	0		0		0		0		0		(1)		0
Net income (expense) recognized on fair value hedges	$	21	$	0	$	0	$	(104)	$	(112)	$	(236)	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains (losses) reclassified from AOCI into net income	$	0	$	(320)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		3		0		0		0		1
Net income (expense) recognized on cash flow hedges	$	0	$	(320)	$	3	$	0	$	0	$	0	$	1


	Nine Months Ended September 30, 2023
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,881	$	27,476	$	1,436	$	(6,744)	$	(696)	$	(1,596)	$	730
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	113	$	0	$	0	$	(278)	$	(297)	$	(754)	$	0
Gains (losses) recognized on derivatives	(35)		0		0		(84)		(10)		(275)		(17)
Gains (losses) recognized on hedged items(1)	(22)		0		0		81		9		388		17
Excluded component of fair value hedges(2)	0		0		0		0		0		(2)		0
Net income (expense) recognized on fair value hedges	$	56	$	0	$	0	$	(281)	$	(298)	$	(643)	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains (losses) reclassified from AOCI into net income	$	0	$	(879)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		9		0		0		0		1
Net income (expense) recognized on cash flow hedges	$	0	$	(879)	$	9	$	0	$	0	$	0	$	1



	Three Months Ended September 30, 2022
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	499	$	7,578	$	123	$	(689)	$	(120)	$	(319)	$	192
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	22	$	0	$	0	$	4	$	(21)	$	(71)	$	0
Gains (losses) recognized on derivatives	83		0		0		(381)		(311)		(807)		(85)
Gains (losses) recognized on hedged items(1)	(102)		0		0		381		312		846		85
Excluded component of fair value hedges(2)	0		0		0		0		0		(1)		0
Net income (expense) recognized on fair value hedges	$	3	$	0	$	0	$	4	$	(20)	$	(33)	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	0	$	(86)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains reclassified from AOCI into net income(4)	0		0		2		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	0	$	(86)	$	2	$	0	$	0	$	0	$	(1)



	Nine Months Ended September 30, 2022
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,336	$	20,550	$	193	$	(1,200)	$	(214)	$	(644)	$	634
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	22	$	0	$	0	$	46	$	12	$	(20)	$	0
Gains (losses) recognized on derivatives	294		0		0		(569)		(735)		(2,039)		(197)
Gains (losses) recognized on hedged items(1)	(364)		0		0		570		735		2,155		196
Excluded component of fair value hedges(2)	0		0		0		0		0		(2)		0
Net income (expense) recognized on fair value hedges	$	(48)	$	0	$	0	$	47	$	12	$	94	$	(1)
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	0	$	104	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		1		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	0	$	104	$	1	$	0	$	0	$	0	$	(1)

_________

(1)Includes amortization benefit of $20 million and $56 million for the three and nine months ended September 30, 2023, respectively, and amortization benefit of $23 million and $57 million for the three and nine months ended September 30, 2022, respectively, related to basis adjustments on discontinued hedges.

(2)Changes in fair values of cross-currency swaps attributable to changes in cross-currency basis spreads are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income (“OCI”). The initial value of the excluded component is recognized in earnings over the life of the swap under the amortization approach.

(3)See “Note 9—Stockholders’ Equity” for the effects of cash flow and net investment hedges on AOCI and amounts reclassified to net income, net of tax.

(4)We recognized a gain of $100 million and $70 million for the three and nine months ended September 30, 2023, respectively, and a gain of $79 million and $98 million for the three and nine months ended September 30, 2022, respectively, on foreign exchange contracts reclassified from AOCI. These amounts were largely offset by the foreign currency transaction gains (losses) on our foreign currency denominated intercompany funding included in other non-interest income on our consolidated statements of income.

In the next 12 months, we expect to reclassify into earnings an after-tax loss of $877 million recorded in AOCI as of September 30, 2023 associated with cash flow hedges of forecasted transactions. This amount will largely offset the cash flows associated with the forecasted transactions hedged by these derivatives. The maximum length of time over which forecasted transactions were hedged was approximately 9.5 years as of September 30, 2023. The amount we expect to reclassify into earnings may change as a result of changes in market conditions and ongoing actions taken as part of our overall risk management strategy.

Free-Standing Derivatives

The net impacts to our consolidated statements of income related to free-standing derivatives are presented below for the three and nine months ended September 30, 2023 and 2022. These gains or losses are recognized in other non-interest income on our consolidated statements of income.

Table 8.5: Gains (Losses) on Free-Standing Derivatives


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in millions)	2023		2022		2023		2022
Gains (losses) recognized in other non-interest income:
Customer accommodation:
Interest rate contracts	$	7	$	11	$	26	$	31
Commodity contracts	11		20		28		37
Foreign exchange and other contracts	5		7		13		11
Total customer accommodation	23		38		67		79
Other interest rate exposures	81		0		199		14
Other contracts	(7)		(24)		(24)		(29)
Total	$	97	$	14	$	242	$	64

Deposits and Borrowings (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Components of Deposits, Short-Term Borrowings and Long-Term Debt

The following tables summarize the components of our deposits, short-term borrowings and long-term debt as of September 30, 2023 and December 31, 2022. The carrying value presented below for these borrowings includes any unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments.

Table 7.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt


(Dollars in millions)	September 30, 2023		December 31, 2022
Deposits:
Non-interest-bearing deposits	$	28,794	$	32,203
Interest-bearing deposits(1)	317,217		300,789
Total deposits	$	346,011	$	332,992
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	522	$	883

Total short-term borrowings	$	522	$	883


	September 30, 2023					December 31, 2022
(Dollars in millions)	Maturity Dates	Stated Interest Rates	Weighted-Average Interest Rate	Carrying Value		Carrying Value
Long-term debt:
Securitized debt obligations	2024-2028	0.55% - 6.12%	2.87%	$	17,417	$	16,973
Senior and subordinated notes:
Fixed unsecured senior debt(2)	2024-2034	0.80 - 6.38	4.01	26,419		24,134
Floating unsecured senior debt	2024-2025	6.00 - 6.66	6.18	1,248		1,597
Total unsecured senior debt			4.11	27,667		25,731
Fixed unsecured subordinated debt	2025-2032	2.36 - 4.20	3.57	3,616		5,095
Total senior and subordinated notes				31,283		30,826
Other long-term borrowings	2023-2031	0.35 - 9.91	6.38	25		33
Total long-term debt				$	48,725	$	47,832
Total short-term borrowings and long-term debt				$	49,247	$	48,715

__________

(1)Some customers have time deposits in excess of the federal deposit insurance limit, making a portion of the deposit uninsured. As of September 30, 2023, the total time deposit amount with some portion in excess of the insured amount was $15.4 billion and the portion of those deposits estimated to be uninsured was $8.5 billion. As of December 31, 2022, the total time deposit amount with some portion in excess of the insured amount was $6.1 billion and the portion of those deposits estimated to be uninsured was $2.0 billion.

(2)Includes $1.2 billion of Euro (“EUR”) denominated unsecured notes as of both September 30, 2023 and December 31, 2022.

Derivative Instruments and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivative assets
Derivative assets, gross amount	$ 3,381	$ 3,098
Derivative assets, offsetting financial instruments	(388)	(759)
Derivative assets, offsetting cash collateral	(1,083)	(375)
Total derivative assets	1,910	1,964
Derivative assets, securities not netted	(77)	(96)
Net Exposure	1,833	1,868
Derivative, collateral, obligation to return cash	1,600	608
Derivative, collateral, obligation to return securities	72	82
Derivative, collateral, right to reclaim cash	$ 2,000	$ 2,300

Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share.

Table 10.1: Computation of Basic and Diluted Earnings per Common Share


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars and shares in millions, except per share data)	2023		2022		2023		2022


Net income	$	1,790	$	1,694	$	4,181	$	6,128
Dividends and undistributed earnings allocated to participating securities	(28)		(21)		(67)		(74)
Preferred stock dividends	(57)		(57)		(171)		(171)

Net income available to common stockholders	$	1,705	$	1,616	$	3,943	$	5,883

Total weighted-average basic common shares outstanding	382.5		383.4		382.7		394.9
Effect of dilutive securities:(1)
Stock options	0.1		0.2		0.1		0.4
Other contingently issuable shares	0.7		1.0		0.8		1.1
Total effect of dilutive securities	0.8		1.2		0.9		1.5
Total weighted-average diluted common shares outstanding	383.3		384.6		383.6		396.4
Basic earnings per common share:


Net income per basic common share	$	4.46	$	4.21	$	10.31	$	14.90
Diluted earnings per common share:(1)


Net income per diluted common share	$	4.45	$	4.20	$	10.28	$	14.84

__________

(1)Excluded from the computation of diluted earnings per share were awards of 13 thousand shares for the nine months ended September 30, 2023 and 33 thousand shares and 23 thousand shares for the three and nine months ended September 30, 2022, respectively, because their inclusion would be anti-dilutive. There were no awards excluded from the computation for the three months ended September 30, 2023.

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2023	Oct. 20, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Sep. 30, 2023
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-13300
Entity Registrant Name	CAPITAL ONE FINANCIAL CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1719854
Entity Address, Address Line One	1680 Capital One Drive,
Entity Address, City or Town	McLean,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	703
Local Phone Number	720-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		380,846,771
Entity Central Index Key	0000927628
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Common Stock (par value $.01 per share)
Entity Information [Line Items]
Title of 12(b) Security	Common Stock (par value $.01 per share)
Trading Symbol	COF
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I
Trading Symbol	COF PRI
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J
Trading Symbol	COF PRJ
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K
Trading Symbol	COF PRK
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series L
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series L
Trading Symbol	COF PRL
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series N
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series N
Trading Symbol	COF PRN
Security Exchange Name	NYSE
0.800% Senior Notes Due 2024
Entity Information [Line Items]
Title of 12(b) Security	0.800% Senior Notes Due 2024
Trading Symbol	COF24
Security Exchange Name	NYSE
1.650% Senior Notes Due 2029
Entity Information [Line Items]
Title of 12(b) Security	1.650% Senior Notes Due 2029
Trading Symbol	COF29
Security Exchange Name	NYSE

Commitments, Contingencies, Guarantees, and Others - Unfunded Lending Commitments: Contractual Amount and Carrying Value (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Unfunded lending commitments, contractual amount	$ 439,198	$ 409,314
Off-balance sheet lending commitment, carrying value	125	204
Credit Card:
Loss Contingencies [Line Items]
Unused commitments to extend credit, contractual amount	390,477	359,507
Other excluding credit card
Loss Contingencies [Line Items]
Unused commitments to extend credit, contractual amount	47,280	48,405
Off-balance sheet lending commitment, carrying value	102	176
Advised line of credit	5,100	4,400
Letter of credit
Loss Contingencies [Line Items]
Standby letters of credit and commercial letters of credit, contractual amount	1,441	1,402
Off-balance sheet lending commitment, carrying value	$ 23	$ 28

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Frank G. LaPrade [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Frank G. LaPrade, our Chief Enterprise Services Officer and Chief of Staff to the CEO, entered into a pre-arranged stock trading plan on July 28, 2023. Mr. LaPrade’s plan provides for the potential exercise of vested stock options and the associated sale of up to 70,975 shares of Capital One common stock in amounts and prices determined in accordance with a formula set forth in the plan and terminates on the earlier of the date all shares under the plan are sold and April 29, 2024.
Name	Frank G. LaPrade
Title	Chief Enterprise Services Officer and Chief of Staff to the CEO
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 28, 2023
Arrangement Duration	276 days
Aggregate Available	70,975	70,975
Ann Fritz Hackett [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Ann Fritz Hackett, our lead independent director, entered into a pre-arranged stock trading plan on August 8, 2023. Ms. Hackett’s plan provides for the associated sale of up to 15,000 shares of Capital One common stock in amounts and prices determined in accordance with a formula set forth in the plan and terminates on the earlier of the date all shares under the plan are sold and December 31, 2024.
Name	Ann Fritz Hackett
Title	lead independent director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 8, 2023
Arrangement Duration	516 days
Aggregate Available	15,000	15,000
Lance Hackett [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Lance Hackett, spouse of Ann Fritz Hackett, our lead independent director, entered into a pre-arranged stock trading plan on August 8, 2023. Mr. Hackett’s plan provides for the associated sale of up to 5,005 shares of Capital One common stock in amounts and prices determined in accordance with a formula set forth in the plan and terminates on the earlier of the date all shares under the plan are sold and December 31, 2024.
Name	Lance Hackett
Title	spouse of Ann Fritz Hackett, our lead independent director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 8, 2023
Arrangement Duration	511 days
Aggregate Available	5,005	5,005

Summary of Significant Accounting Policies - Segments (Details)	9 Months Ended
	Sep. 30, 2023 segment
Accounting Policies [Abstract]
Number of operating segments	3

Stockholders' Equity - Reclassifications from AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income (loss)	$ 7,423	$ 7,003	$ 21,722	$ 19,917
Interest expense	3,450	1,197	9,071	2,162
Non-interest income (loss)	256	192	730	634
Loss from continuing operations before income taxes	2,222	2,187	5,113	7,696
Income tax provision (benefit)	432	493	932	1,568
Net income	1,790	1,694	4,181	6,128
Accumulated other comprehensive loss	(12,224)		(12,224)			$ (9,916)
Other comprehensive income (loss), net of tax	(2,406)	(3,788)	(2,308)	(11,078)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	(165)	(6)	(608)	146
Securities available for sale \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-interest income (loss)	0	(3)	0	(9)
Income tax provision (benefit)	0	(1)	0	(2)
Net income	0	(2)	0	(7)
Hedging Relationships
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(2,464)	(2,378)	(2,464)	(2,378)	$ (2,205)	(2,182)	$ (1,574)	$ 118
Other comprehensive income (loss) before reclassifications	(424)	(809)	(890)	(2,344)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	165	5	608	(152)
Other comprehensive income (loss), net of tax	(259)	(804)	(282)	(2,496)
Hedging Relationships \| Interest rate contracts \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income (loss)	(320)	(86)	(879)	104
Hedging Relationships \| Foreign exchange contracts \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income (loss)	3	2	9	1
Interest expense	(1)	(1)	(2)	(2)
Non-interest income (loss)	100	79	70	97
Loss from continuing operations before income taxes	(218)	(6)	(802)	200
Income tax provision (benefit)	(53)	(1)	(194)	48
Net income	(165)	(5)	(608)	152
Foreign Currency Translation Adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(12)	(126)	(12)	(126)	27	(20)	(78)	(21)
Other comprehensive income (loss) before reclassifications	(39)	(48)	8	(105)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other comprehensive income (loss), net of tax	(39)	(48)	8	(105)
Other
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(38)	(21)	(38)	(21)	(38)	(38)	(20)	(20)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	(1)	0	(1)
Other comprehensive income (loss), net of tax	0	(1)	0	(1)
Other \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss from continuing operations before income taxes	0	1	0	1
Net income	0	1	0	1
Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(12,224)	(10,704)	(12,224)	(10,704)	$ (9,818)	$ (9,916)	$ (6,916)	$ 374
Other comprehensive income (loss) before reclassifications	(2,571)	(3,794)	(2,916)	(10,932)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	165	6	608	(146)
Other comprehensive income (loss), net of tax	$ (2,406)	$ (3,788)	$ (2,308)	$ (11,078)

Deposits and Borrowings - Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total long-term debt	$ 48,725	$ 47,832
Total short-term borrowings and long-term debt	49,247	48,715
Time deposits, at or above FDIC insurance limit	15,400	6,100
Deposit Liability, Uninsured	8,500	2,000
Senior and subordinated notes	31,283	30,826
Euro
Debt Instrument [Line Items]
Senior and subordinated notes	$ 1,200	1,200
Securitized debt obligations
Debt Instrument [Line Items]
Weighted average interest rate	2.87%
Carrying value	$ 17,417	16,973
Total senior and subordinated notes
Debt Instrument [Line Items]
Carrying value	$ 31,283	30,826
Senior notes \| Total unsecured senior debt
Debt Instrument [Line Items]
Weighted average interest rate	4.11%
Carrying value	$ 27,667	25,731
Senior notes \| Fixed unsecured senior debt
Debt Instrument [Line Items]
Weighted average interest rate	4.01%
Carrying value	$ 26,419	24,134
Senior notes \| Floating unsecured senior debt
Debt Instrument [Line Items]
Weighted average interest rate	6.18%
Carrying value	$ 1,248	1,597
Subordinated notes \| Fixed unsecured subordinated debt
Debt Instrument [Line Items]
Weighted average interest rate	3.57%
Carrying value	$ 3,616	5,095
Other long-term borrowings
Debt Instrument [Line Items]
Carrying value	$ 25	$ 33
Other long-term borrowings \| Fixed unsecured subordinated debt
Debt Instrument [Line Items]
Weighted average interest rate	6.38%
Minimum \| Securitized debt obligations
Debt Instrument [Line Items]
Stated interest rates	0.55%
Minimum \| Senior notes \| Fixed unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	0.80%
Minimum \| Senior notes \| Floating unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	6.00%
Minimum \| Subordinated notes \| Fixed unsecured subordinated debt
Debt Instrument [Line Items]
Stated interest rates	2.36%
Minimum \| Other long-term borrowings
Debt Instrument [Line Items]
Stated interest rates	0.35%
Maximum \| Securitized debt obligations
Debt Instrument [Line Items]
Stated interest rates	6.12%
Maximum \| Senior notes \| Fixed unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	6.38%
Maximum \| Senior notes \| Floating unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	6.66%
Maximum \| Subordinated notes \| Fixed unsecured subordinated debt
Debt Instrument [Line Items]
Stated interest rates	4.20%
Maximum \| Other long-term borrowings
Debt Instrument [Line Items]
Stated interest rates	9.91%

Stockholders' Equity

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Stockholders' Equity


NOTE 9—STOCKHOLDERS’ EQUITY

Preferred Stock

The following table summarizes our preferred stock outstanding as of September 30, 2023 and December 31, 2022.

Table 9.1: Preferred Stock Outstanding(1)


			Redeemable by Issuer Beginning	Per Annum Dividend Rate	Dividend Frequency	Liquidation Preference per Share		Total Shares Outstanding as of September 30, 2023	Carrying Value (in millions)
Series	Description	Issuance Date							September 30, 2023		December 31, 2022



Series I	5.000% Non-Cumulative	September 11, 2019	December 1, 2024	5.000%	Quarterly	$	1,000	1,500,000	$	1,462	$	1,462
Series J	4.800% Non-Cumulative	January 31, 2020	June 1, 2025	4.800	Quarterly	1,000		1,250,000	1,209		1,209
Series K	4.625% Non-Cumulative	September 17, 2020	December 1, 2025	4.625	Quarterly	1,000		125,000	122		122
Series L	4.375% Non-Cumulative	May 4, 2021	September 1, 2026	4.375	Quarterly	1,000		675,000	652		652
Series M	3.950% Fixed Rate Reset Non-Cumulative	June 10, 2021	September 1, 2026	3.950% through 8/31/2026; resets 9/1/2026 and every subsequent 5 year anniversary at 5-Year Treasury Rate +3.157%	Quarterly	1,000		1,000,000	988		988
Series N	4.250% Non-Cumulative	July 29, 2021	September 1, 2026	4.250%	Quarterly	1,000		425,000	412		412
Total									$	4,845	$	4,845

__________

(1)Except for Series M, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock.

Accumulated Other Comprehensive Income

AOCI primarily consists of accumulated net unrealized gains or losses associated with securities available for sale, changes in fair value of derivatives in hedging relationships and foreign currency translation adjustments.

The following table presents the changes in AOCI by component for the three and nine months ended September 30, 2023 and 2022.

Table 9.2: AOCI


	Three Months Ended September 30, 2023
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of June 30, 2023	$	(7,602)	$	(2,205)	$	27	$	(38)	$	(9,818)
Other comprehensive income (loss) before reclassifications	(2,108)		(424)		(39)		0		(2,571)
Amounts reclassified from AOCI into earnings	0		165		0		0		165
Other comprehensive income (loss), net of tax	(2,108)		(259)		(39)		0		(2,406)
AOCI as of September 30, 2023	$	(9,710)	$	(2,464)	$	(12)	$	(38)	$	(12,224)


	Nine Months Ended September 30, 2023
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of December 31, 2022	$	(7,676)	$	(2,182)	$	(20)	$	(38)	$	(9,916)
Other comprehensive income (loss) before reclassifications	(2,034)		(890)		8		0		(2,916)
Amounts reclassified from AOCI into earnings	0		608		0		0		608
Other comprehensive income (loss), net of tax	(2,034)		(282)		8		0		(2,308)
AOCI as of September 30, 2023	$	(9,710)	$	(2,464)	$	(12)	$	(38)	$	(12,224)


	Three Months Ended September 30, 2022
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of June 30, 2022	$	(5,244)	$	(1,574)	$	(78)	$	(20)	$	(6,916)
Other comprehensive income (loss) before reclassifications	(2,937)		(809)		(48)		0		(3,794)
Amounts reclassified from AOCI into earnings	2		5		0		(1)		6
Other comprehensive loss, net of tax	(2,935)		(804)		(48)		(1)		(3,788)
AOCI as of September 30, 2022	$	(8,179)	$	(2,378)	$	(126)	$	(21)	$	(10,704)


	Nine Months Ended September 30, 2022
(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of December 31, 2021	$	297	$	118	$	(21)	$	(20)	$	374
Other comprehensive income (loss) before reclassifications	(8,483)		(2,344)		(105)		0		(10,932)
Amounts reclassified from AOCI into earnings	7		(152)		0		(1)		(146)
Other comprehensive income (loss), net of tax	(8,476)		(2,496)		(105)		(1)		(11,078)
AOCI as of September 30, 2022	$	(8,179)	$	(2,378)	$	(126)	$	(21)	$	(10,704)

__________

(1)Includes amounts related to cash flow hedges as well as the excluded component of cross-currency swaps designated as fair value hedges.

The following table presents amounts reclassified from each component of AOCI to our consolidated statements of income for the three and nine months ended September 30, 2023 and 2022.

Table 9.3: Reclassifications from AOCI


(Dollars in millions)		Three Months Ended September 30,				Nine Months Ended September 30,
AOCI Components	Affected Income Statement Line Item	2023		2022		2023		2022
Securities available for sale:
	Non-interest income (loss)	$	0	$	(3)	$	0	$	(9)
	Income tax provision (benefit)	0		(1)		0		(2)
	Net income (loss)	0		(2)		0		(7)
Hedging relationships:
Interest rate contracts:	Interest income (loss)	(320)		(86)		(879)		104
Foreign exchange contracts:	Interest income	3		2		9		1
	Interest expense	(1)		(1)		(2)		(2)
	Non-interest income	100		79		70		97
	Loss from continuing operations before income taxes	(218)		(6)		(802)		200
	Income tax benefit	(53)		(1)		(194)		48
	Net income (loss)	(165)		(5)		(608)		152
Other:
	Non-interest income and non-interest expense	0		1		0		1

	Net income	0		1		0		1
Total reclassifications		$	(165)	$	(6)	$	(608)	$	146

The table below summarizes other comprehensive income (loss) activity and the related tax impact for the three and nine months ended September 30, 2023 and 2022.

Table 9.4: Other Comprehensive Income (Loss)


	Three Months Ended September 30,
	2023						2022
(Dollars in millions)	Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax
Other comprehensive income (loss):
Net unrealized losses on securities available for sale	$	(2,780)	$	(672)	$	(2,108)	$	(3,882)	$	(947)	$	(2,935)
Net unrealized losses on hedging relationships	(342)		(83)		(259)		(1,065)		(261)		(804)
Foreign currency translation adjustments(1)	(2)		37		(39)		33		81		(48)
Other	0		0		0		(1)		0		(1)
Other comprehensive loss	$	(3,124)	$	(718)	$	(2,406)	$	(4,915)	$	(1,127)	$	(3,788)


	Nine Months Ended September 30,
	2023						2022
(Dollars in millions)	Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax
Other comprehensive income (loss):
Net unrealized losses on securities available for sale	$	(2,684)	$	(650)	$	(2,034)	$	(11,181)	$	(2,705)	$	(8,476)
Net unrealized losses on hedging relationships	(372)		(90)		(282)		(3,292)		(796)		(2,496)
Foreign currency translation adjustments(1)	8		0		8		47		152		(105)
Other	0		0		0		(1)		0		(1)
Other comprehensive loss	$	(3,048)	$	(740)	$	(2,308)	$	(14,427)	$	(3,349)	$	(11,078)

__________

(1)Includes the impact of hedging instruments designated as net investment hedges.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Variable Interest Entities and Securitizations - Continuing Involvement in Securitization Related VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Credit Card
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Securities held by third-party investors, non-mortgage	$ 13,772	$ 12,976
Receivables in the trust, non-mortgage	25,532	24,367
Cash balance of spread or reserve accounts, non-mortgage	0	0
Auto
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Securities held by third-party investors, non-mortgage	3,645	3,997
Receivables in the trust, non-mortgage	4,295	4,682
Cash balance of spread or reserve accounts, non-mortgage	$ 20	$ 23

Derivative Instruments and Hedging Activities - Offsetting Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivative liabilities
Derivative liabilities, gross amount	$ 3,699	$ 4,550
Derivative liabilities, offsetting financial instruments	(388)	(759)
Derivative liabilities, offsetting cash collateral	(244)	(476)
Total derivative liabilities	3,067	3,315
Derivative liabilities, securities collateral not netted	(79)	(85)
Net exposure	2,988	3,230
Repurchase agreements
Gross amounts	522	883
Repurchase agreements, securities sold, offset	0	0
Repurchase agreements, cash collateral pledged, offset	0	0
Net amounts as recognized	522	883
Repurchase agreements, securities collateral not netted	(522)	(883)
Net exposure	0	0
Derivative, collateral, obligation to return cash	1,600	608
Derivative, collateral, obligation to return securities	72	82
Derivative, collateral, right to reclaim cash	2,000	2,300
Securities sold under repurchase agreements, fair value of collateral	$ 528	$ 900

Fair Value Measurement

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurement


NOTE 11—FAIR VALUE MEASUREMENT

Fair value, also referred to as an exit price, is defined as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on the markets in which the assets or liabilities trade and whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. The fair value measurement of a financial asset or liability is assigned a level based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are described below:


Level 1:						Valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2:						Valuation is based on observable market-based inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3:						Valuation is generated from techniques that use significant assumptions not observable in the market. Valuation techniques include pricing models, discounted cash flow (“DCF”) methodologies or similar techniques.

The accounting guidance for fair value measurements requires that we maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. We consider all available information, including observable market data, indications of market liquidity and orderliness, and our understanding of the valuation techniques and significant inputs. Based upon the specific facts and circumstances of each instrument or instrument category, judgments are made regarding the significance of the observable or unobservable inputs to the instruments’ fair value measurement in its entirety. If unobservable inputs are considered significant, the instrument is classified as Level 3. The process for determining fair value using unobservable inputs is generally more subjective and involves a high degree of management judgment and assumptions. The accounting guidance provides for the irrevocable option to elect, on a contract-by-contract basis, to measure certain financial assets and liabilities at fair value at inception of the contract and record any subsequent changes in fair value in earnings.

The determination and classification of financial instruments in the fair value hierarchy is performed at the end of each reporting period. We consider all available information, including observable market data, indications of market liquidity and orderliness, and our understanding of the valuation techniques and significant inputs. For additional information on the valuation techniques used in estimating the fair value of our financial assets and liabilities on a recurring basis, see “Part II—Item 8. Financial Statements and Supplementary Data—Note 16—Fair Value Measurement” in our 2022 Form 10-K.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table displays our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis as of September 30, 2023 and December 31, 2022.

Table 11.1: Assets and Liabilities Measured at Fair Value on a Recurring Basis


	September 30, 2023
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	5,205	$	0	$	0	0		$	5,205
RMBS	0		59,733		149		0		59,882
CMBS	0		7,713		126		0		7,839
Other securities	192		1,719		0		0		1,911
Total securities available for sale	5,397		69,165		275		0		74,837
Loans held for sale	0		314		0		0		314
Other assets:
Derivative assets(2)	725		1,333		1,323		$	(1,471)	1,910
Other(3)	529		3		35		0		567
Total assets	$	6,651	$	70,815	$	1,633	$	(1,471)	$	77,628
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	822	$	1,622	$	1,255	$	(632)	$	3,067
Total liabilities	$	822	$	1,622	$	1,255	$	(632)	$	3,067


	December 31, 2022
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	5,041	$	0	$	0	0		$	5,041
RMBS	0		62,353		236		0		62,589
CMBS	0		7,728		142		0		7,870
Other securities	186		1,233		0		0		1,419
Total securities available for sale	5,227		71,314		378		0		76,919
Loans held for sale	0		191		0		0		191
Other assets:
Derivative assets(2)	474		2,545		79		$	(1,134)	1,964
Other(3)	464		3		36		0		503
Total assets	$	6,165	$	74,053	$	493	$	(1,134)	$	79,577
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	823	$	3,653	$	74	$	(1,235)	$	3,315
Total liabilities	$	823	$	3,653	$	74	$	(1,235)	$	3,315

__________

(1)Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty. See “Note 8—Derivative Instruments and Hedging Activities” for additional information.

(2)Does not reflect approximately $1 million and $4 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of September 30, 2023 and December 31, 2022, respectively. Non-performance risk is included in the measurement of derivative assets and liabilities on our consolidated balance sheets, and is recorded through non-interest income in the consolidated statements of income.

(3)As of September 30, 2023 and December 31, 2022, other includes retained interests in securitizations of $35 million and $36 million, deferred compensation plan assets of $524 million and $453 million, and equity securities of $8 million (including unrealized losses of approximately $1 million million) and $14 million (including unrealized losses of $23 million), respectively.

Level 3 Recurring Fair Value Rollforward

The table below presents a reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2023 and 2022. Generally, transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these financial instruments as evidenced by wider pricing variations among pricing vendors and transfers out of Level 3 were primarily driven by the usage of assumptions corroborated by market observable information as evidenced by tighter pricing among multiple pricing sources.

Table 11.2: Level 3 Recurring Fair Value Rollforward



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Three Months Ended September 30, 2023
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2023(1)
(Dollars in millions)	Balance, July 1, 2023		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2023
Securities available for sale:(2)
RMBS	$	206	$	2	$	(5)	$	0	$	0	$	0	$	(6)	$	2	$	(50)	$	149	$	2
CMBS	133		0		(6)		0		0		0		(1)		0		0		126		0

Total securities available for sale	339		2		(11)		0		0		0		(7)		2		(50)		275		2
Other assets:

Retained interests in securitizations	36		(1)		0		0		0		0		0		0		0		35		(1)
Net derivative assets (liabilities)(3)	64		(2)		0		0		0		3		18		(15)		0		68		4


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Nine Months Ended September 30, 2023
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2023(1)
(Dollars in millions)	Balance, January 1, 2023		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2023
Securities available for sale:(2)
RMBS	$	236	$	6	$	(4)	$	0	$	0	$	0	$	(17)	$	47	$	(119)	$	149	$	5
CMBS	142		0		(12)		0		0		0		(4)		0		0		126		0

Total securities available for sale	378		6		(16)		0		0		0		(21)		47		(119)		275		5
Other assets:

Retained interests in securitizations	36		(1)		0		0		0		0		0		0		0		35		(1)
Net derivative assets (liabilities)(3)(4)	5		(20)		0		0		0		176		75		(167)		(1)		68		71



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Three Months Ended September 30, 2022
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2022(1)
(Dollars in millions)	Balance, July 1, 2022		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2022
Securities available for sale:(2)
RMBS	$	240	$	2	$	(9)	$	0	$	0	$	0	$	(10)	$	8	$	(13)	$	218	$	2
CMBS	13		(1)		(1)		0		0		0		(8)		177		0		180		0

Total securities available for sale	253		1		(10)		0		0		0		(18)		185		(13)		398		2
Other assets:

Retained interests in securitizations	37		(1)		0		0		0		0		0		0		0		36		(1)
Net derivative assets (liabilities)(3)	(12)		(22)		0		0		0		(11)		0		0		40		(5)		(22)


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Nine Months Ended September 30, 2022
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2022(1)
(Dollars in millions)	Balance, January 1, 2022		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2022
Securities available for sale:(2)
RMBS	$	258	$	15	$	(29)	$	0	$	0	$	0	$	(53)	$	92	$	(65)	$	218	$	6
CMBS	9		(1)		(2)		0		0		0		(13)		190		(3)		180		(1)

Total securities available for sale	267		14		(31)		0		0		0		(66)		282		(68)		398		5
Other assets:

Retained interests in securitizations	41		(5)		0		0		0		0		0		0		0		36		(5)
Net derivative assets (liabilities)(3)	19		(63)		0		0		0		25		2		(28)		40		(5)		(20)

_________

(1)Realized gains (losses) on securities available for sale are included in net securities gains (losses) and retained interests in securitizations are reported as a component of non-interest income in our consolidated statements of income. Gains (losses) on derivatives are included as a component of net interest income or non-interest income in our consolidated statements of income.

(2)For the three and nine months ended September 30, 2023, included in OCI related to Level 3 securities available for sale still held as of September 30, 2023 were net unrealized losses of $9 million and $14 million. For the three and nine months ended September 30, 2022, included in OCI related to Level 3 securities available for sale still held as of September 30, 2022 were net unrealized losses of $15 million and $53 million.

(3)Includes derivative assets and liabilities of $1.3 billion and $1.3 billion, respectively, as of September 30, 2023 and $110 million and $115 million, respectively, as of September 30, 2022.

(4)Transfers into Level 3 primarily consist of term SOFR-indexed interest rate derivatives.

Significant Level 3 Fair Value Asset and Liability Inputs

Generally, uncertainties in fair value measurements of financial instruments, such as changes in unobservable inputs, may have a significant impact on fair value. Certain of these unobservable inputs will, in isolation, have a directionally consistent impact on the fair value of the instrument for a given change in that input. Alternatively, the fair value of the instrument may move in an opposite direction for a given change in another input. In general, an increase in the discount rate, default rates, loss severity or credit spreads, in isolation, would result in a decrease in the fair value measurement. In addition, an increase in default rates would generally be accompanied by a decrease in recovery rates, slower prepayment rates and an increase in liquidity spreads, and would lead to a decrease in the fair value measurement.

Techniques and Inputs for Level 3 Fair Value Measurements

The following table presents the significant unobservable inputs used to determine the fair values of our Level 3 financial instruments on a recurring basis. We utilize multiple vendor pricing services to obtain fair value for our securities. Several of our vendor pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other vendor pricing services are able to provide unobservable input information for all securities for which they provide a valuation. As a result, the unobservable input information for the securities available for sale presented below represents a composite summary of all information we are able to obtain. The unobservable input information for all other Level 3 financial instruments is based on the assumptions used in our internal valuation models.

Table 11.3: Quantitative Information about Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
September 30,
2023

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

149

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

3-15%

0-12%

0-10%

20-80%

61%

CMBS

126

Discounted cash flows (vendor pricing)

Yield

6-7%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

33-64

9-11%

5-13%

1-2%

39-163%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

4-5%

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
December 31,
2022

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

236

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

3-12%

4-20%

0-11%

30-80%

58%

CMBS

142

Discounted cash flows (vendor pricing)

Yield

4-5%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

30-43

9-18%

4-7%

62-291%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

3-4%

__________

(1)Weighted averages are calculated by using the product of the input multiplied by the relative fair value of the instruments.

(2)Due to the nature of the various mortgage securitization structures in which we have retained interests, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

We are required to measure and recognize certain assets at fair value on a nonrecurring basis on the consolidated balance sheets. These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, from the application of lower of cost or fair value accounting or when we evaluate for impairment).

The following table presents the carrying value of the assets measured at fair value on a nonrecurring basis and still held as of September 30, 2023 and December 31, 2022, and for which a nonrecurring fair value measurement was recorded during the nine and twelve months then ended.

Table 11.4: Nonrecurring Fair Value Measurements


	September 30, 2023
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	424	$	424
Loans held for sale	0		0		0
Other assets(1)	0		212		212
Total	$	0	$	636	$	636


	December 31, 2022
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	284	$	284
Loans held for sale	11		0		11
Other assets(1)	0		220		220
Total	$	11	$	504	$	515

__________

(1)As of September 30, 2023, other assets included investments accounted for under measurement alternative of $38 million, repossessed assets of $54 million, and long-lived assets held for sale and right-of-use assets totaling $120 million. As of December 31, 2022, other assets included investments

accounted for under measurement alternative of $4 million, cost method investments of $3 million, repossessed assets of $55 million and long-lived assets held for sale and right-of-use assets totaling $158 million.

In the above table, loans held for investment are generally valued based in part on the estimated fair value of the underlying collateral and the non-recoverable rate, which is considered to be a significant unobservable input. The non-recoverable rate ranged from 0% to 100%, with a weighted average of 19%, and from 0% to 43%, with a weighted average of 20%, as of September 30, 2023 and December 31, 2022, respectively. The weighted average non-recoverable rate is calculated based on the estimated market value of the underlying collateral. The significant unobservable inputs and related quantitative information related to fair value of the other assets are not meaningful to disclose as they vary significantly across properties and collateral.

The following table presents total nonrecurring fair value measurements for the period, included in earnings, attributable to the change in fair value relating to assets that are still held at September 30, 2023 and 2022.

Table 11.5: Nonrecurring Fair Value Measurements Included in Earnings


	Total Gains (Losses)
	Nine Months Ended September 30,
(Dollars in millions)	2023		2022
Loans held for investment	$	(315)	$	24
Loans held for sale	0		0
Other assets(1)	(52)		(33)
Total	$	(367)	$	(9)

__________

(1)Other assets include fair value adjustments related to repossessed assets, long-lived assets held for sale and right-of-use assets, and equity investments accounted for under the measurement alternative.

Fair Value of Financial Instruments

The following table presents the carrying value and estimated fair value, including the level within the fair value hierarchy, of our financial instruments that are not measured at fair value on a recurring basis on our consolidated balance sheets as of September 30, 2023 and December 31, 2022.

Table 11.6: Fair Value of Financial Instruments


	September 30, 2023
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	44,869	$	44,869	$	4,620	$	40,249	$	0
Restricted cash for securitization investors	435		435		435		0		0

Net loans held for investment	299,825		305,810		0		0		305,810
Loans held for sale	428		440		0		440		0
Interest receivable	2,469		2,469		0		2,469		0
Other investments(1)	1,329		1,329		0		1,329		0
Financial liabilities:
Deposits with defined maturities	79,176		78,833		0		78,833		0
Securitized debt obligations	17,417		17,409		0		17,409		0
Senior and subordinated notes	31,283		31,051		0		31,051		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	522		522		0		522		0

Interest payable	685		685		0		685		0


	December 31, 2022
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	30,856	$	30,856	$	5,193	$	25,663	$	0
Restricted cash for securitization investors	400		400		400		0		0
Net loans held for investment	299,091		302,920		0		0		302,920
Loans held for sale	11		11		0		11		0
Interest receivable	2,104		2,104		0		2,104		0
Other investments(1)	1,326		1,326		0		1,326		0
Financial liabilities:
Deposits with defined maturities	45,858		45,531		0		45,531		0
Securitized debt obligations	16,973		16,918		0		16,918		0
Senior and subordinated notes	30,826		30,744		0		30,744		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	883		883		0		883		0

Interest payable	527		527		0		527		0

__________

(1)Other investments include FHLB and Federal Reserve stock. These investments are included in other assets on our consolidated balance sheets.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Derivative Assets and Liabilities at Fair Value

Table 8.1: Derivative Assets and Liabilities at Fair Value


	September 30, 2023						December 31, 2022
	Notional or Contractual Amount		Derivative(1)				Notional or Contractual Amount		Derivative(1)
(Dollars in millions)			Assets		Liabilities				Assets		Liabilities
Derivatives designated as accounting hedges:
Interest rate contracts:
Fair value hedges	$	67,173	$	40	$	10	$	60,956	$	3	$	53
Cash flow hedges	61,100		117		10		30,350		0		451
Total interest rate contracts	128,273		157		20		91,306		3		504
Foreign exchange contracts:
Fair value hedges	1,322		0		208		1,338		0		211
Cash flow hedges	2,356		69		1		2,175		4		14
Net investment hedges	4,618		81		78		4,147		78		91
Total foreign exchange contracts	8,296		150		287		7,660		82		316
Total derivatives designated as accounting hedges	136,569		307		307		98,966		85		820
Derivatives not designated as accounting hedges:
Customer accommodation:
Interest rate contracts	98,191		1,609		1,986		91,601		1,140		1,873
Commodity contracts	32,131		1,354		1,335		28,935		1,756		1,738
Foreign exchange and other contracts	4,576		68		42		4,926		74		78
Total customer accommodation	134,898		3,031		3,363		125,462		2,970		3,689
Other interest rate exposures(2)	743		27		19		1,135		34		22
Other contracts	2,715		16		10		2,238		9		19
Total derivatives not designated as accounting hedges	138,356		3,074		3,392		128,835		3,013		3,730
Total derivatives	$	274,925	$	3,381	$	3,699	$	227,801	$	3,098	$	4,550
Less: netting adjustment(3)			(1,471)		(632)				(1,134)		(1,235)
Total derivative assets/liabilities			$	1,910	$	3,067			$	1,964	$	3,315

__________

(2)Other interest rate exposures include commercial mortgage-related derivatives and interest rate swaps.

(3)Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty.

Hedged Item in Fair Value Hedging Relationship

Table 8.2: Hedged Items in Fair Value Hedging Relationships


	September 30, 2023						December 31, 2022
	Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount				Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount
(Dollars in millions)			Total Assets/(Liabilities)		Discontinued-Hedging Relationships				Total Assets/(Liabilities)		Discontinued-Hedging Relationships
Line item on our consolidated balance sheets in which the hedged item is included:
Investment securities available for sale(1)(2)	$	4,608	$	(102)	$	144	$	3,983	$	(80)	$	200
Interest-bearing deposits	(17,225)		580		(1)		(17,280)		500		(1)
Securitized debt obligations	(13,117)		757		0		(11,921)		748		0
Senior and subordinated notes	(30,035)		1,931		(413)		(24,544)		1,542		(527)

__________

(2)Carrying value represents amortized cost.

Offsetting Assets

Table 8.3: Offsetting of Financial Assets and Financial Liabilities


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Held Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Received
As of September 30, 2023
Derivative assets(1)	$	3,381	$	(388)	$	(1,083)	$	1,910	$	(77)	$	1,833
As of December 31, 2022
Derivative assets(1)	3,098		(759)		(375)		1,964		(96)		1,868


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Pledged Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Pledged
As of September 30, 2023
Derivative liabilities(1)	$	3,699	$	(388)	$	(244)	$	3,067	$	(79)	$	2,988
Repurchase agreements(2)	522		0		0		522		(522)		0
As of December 31, 2022
Derivative liabilities(1)	4,550		(759)		(476)		3,315		(85)		3,230
Repurchase agreements(2)	883		0		0		883		(883)		0

__________

Offsetting Liabilities

Table 8.3: Offsetting of Financial Assets and Financial Liabilities


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Held Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Received
As of September 30, 2023
Derivative assets(1)	$	3,381	$	(388)	$	(1,083)	$	1,910	$	(77)	$	1,833
As of December 31, 2022
Derivative assets(1)	3,098		(759)		(375)		1,964		(96)		1,868


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Pledged Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Pledged
As of September 30, 2023
Derivative liabilities(1)	$	3,699	$	(388)	$	(244)	$	3,067	$	(79)	$	2,988
Repurchase agreements(2)	522		0		0		522		(522)		0
As of December 31, 2022
Derivative liabilities(1)	4,550		(759)		(476)		3,315		(85)		3,230
Repurchase agreements(2)	883		0		0		883		(883)		0

__________

Effects of Fair Value and Cash Flow Hedge Accounting

Table 8.4: Effects of Fair Value and Cash Flow Hedge Accounting



	Three Months Ended September 30, 2023
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	627	$	9,696	$	550	$	(2,611)	$	(249)	$	(579)	$	256
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	42	$	0	$	0	$	(104)	$	(112)	$	(275)	$	0
Gains (losses) recognized on derivatives	(15)		0		0		(38)		4		(273)		(42)
Gains (losses) recognized on hedged items(1)	(6)		0		0		38		(4)		313		42



	Three Months Ended September 30, 2023
	Net Interest Income												Non-Interest Income
Excluded component of fair value hedges(2)	0		0		0		0		0		(1)		0
Net income (expense) recognized on fair value hedges	$	21	$	0	$	0	$	(104)	$	(112)	$	(236)	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains (losses) reclassified from AOCI into net income	$	0	$	(320)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		3		0		0		0		1
Net income (expense) recognized on cash flow hedges	$	0	$	(320)	$	3	$	0	$	0	$	0	$	1


	Nine Months Ended September 30, 2023
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,881	$	27,476	$	1,436	$	(6,744)	$	(696)	$	(1,596)	$	730
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	113	$	0	$	0	$	(278)	$	(297)	$	(754)	$	0
Gains (losses) recognized on derivatives	(35)		0		0		(84)		(10)		(275)		(17)
Gains (losses) recognized on hedged items(1)	(22)		0		0		81		9		388		17
Excluded component of fair value hedges(2)	0		0		0		0		0		(2)		0
Net income (expense) recognized on fair value hedges	$	56	$	0	$	0	$	(281)	$	(298)	$	(643)	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains (losses) reclassified from AOCI into net income	$	0	$	(879)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		9		0		0		0		1
Net income (expense) recognized on cash flow hedges	$	0	$	(879)	$	9	$	0	$	0	$	0	$	1



	Three Months Ended September 30, 2022
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	499	$	7,578	$	123	$	(689)	$	(120)	$	(319)	$	192
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	22	$	0	$	0	$	4	$	(21)	$	(71)	$	0
Gains (losses) recognized on derivatives	83		0		0		(381)		(311)		(807)		(85)
Gains (losses) recognized on hedged items(1)	(102)		0		0		381		312		846		85
Excluded component of fair value hedges(2)	0		0		0		0		0		(1)		0
Net income (expense) recognized on fair value hedges	$	3	$	0	$	0	$	4	$	(20)	$	(33)	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	0	$	(86)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains reclassified from AOCI into net income(4)	0		0		2		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	0	$	(86)	$	2	$	0	$	0	$	0	$	(1)



	Nine Months Ended September 30, 2022
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,336	$	20,550	$	193	$	(1,200)	$	(214)	$	(644)	$	634
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	22	$	0	$	0	$	46	$	12	$	(20)	$	0
Gains (losses) recognized on derivatives	294		0		0		(569)		(735)		(2,039)		(197)
Gains (losses) recognized on hedged items(1)	(364)		0		0		570		735		2,155		196
Excluded component of fair value hedges(2)	0		0		0		0		0		(2)		0
Net income (expense) recognized on fair value hedges	$	(48)	$	0	$	0	$	47	$	12	$	94	$	(1)
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	0	$	104	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		1		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	0	$	104	$	1	$	0	$	0	$	0	$	(1)

_________

(3)See “Note 9—Stockholders’ Equity” for the effects of cash flow and net investment hedges on AOCI and amounts reclassified to net income, net of tax.

Free-Standing Derivatives

Table 8.5: Gains (Losses) on Free-Standing Derivatives


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in millions)	2023		2022		2023		2022
Gains (losses) recognized in other non-interest income:
Customer accommodation:
Interest rate contracts	$	7	$	11	$	26	$	31
Commodity contracts	11		20		28		37
Foreign exchange and other contracts	5		7		13		11
Total customer accommodation	23		38		67		79
Other interest rate exposures	81		0		199		14
Other contracts	(7)		(24)		(24)		(29)
Total	$	97	$	14	$	242	$	64

Gains (Losses) on Free-Standing Derivatives

Table 8.5: Gains (Losses) on Free-Standing Derivatives


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in millions)	2023		2022		2023		2022
Gains (losses) recognized in other non-interest income:
Customer accommodation:
Interest rate contracts	$	7	$	11	$	26	$	31
Commodity contracts	11		20		28		37
Foreign exchange and other contracts	5		7		13		11
Total customer accommodation	23		38		67		79
Other interest rate exposures	81		0		199		14
Other contracts	(7)		(24)		(24)		(29)
Total	$	97	$	14	$	242	$	64

Derivative Instruments and Hedging Activities (Policies)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Balance Sheet Offsetting of Financial Assets and Liabilities	Balance Sheet Offsetting of Financial Assets and Liabilities Derivative contracts and repurchase agreements that we execute bilaterally in the OTC market are generally governed by enforceable master netting agreements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under master netting agreements for balance sheet presentation where a right of setoff exists. For derivative contracts entered into under master netting agreements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting agreements, we do not offset our derivative positions for balance sheet presentation.

Investment Securities (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities

Table 2.1: Investment Securities Available for Sale


	September 30, 2023
(Dollars in millions)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Investment securities available for sale:
U.S. Treasury securities	$	5,279	$	0	$	1	$	(75)	$	5,205
RMBS:
Agency	71,122		0		15		(11,945)		59,192
Non-agency	620		(4)		81		(7)		690
Total RMBS	71,742		(4)		96		(11,952)		59,882
Agency CMBS	8,718		0		1		(880)		7,839
Other securities(1)	1,911		0		3		(3)		1,911
Total investment securities available for sale	$	87,650	$	(4)	$	101	$	(12,910)	$	74,837


	December 31, 2022
(Dollars in millions)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Investment securities available for sale:
U.S. Treasury securities	$	5,129	$	0	$	2	$	(90)	$	5,041
RMBS:
Agency	71,212		0		53		(9,413)		61,852
Non-agency	653		(3)		93		(6)		737
Total RMBS	71,865		(3)		146		(9,419)		62,589
Agency CMBS	8,626		0		4		(760)		7,870
Other securities(1)	1,427		0		2		(10)		1,419
Total investment securities available for sale	$	87,047	$	(3)	$	154	$	(10,279)	$	76,919

__________

Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position

Table 2.2: Securities in a Gross Unrealized Loss Position


	September 30, 2023
	Less than 12 Months				12 Months or Longer				Total
(Dollars in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale without an allowance for credit losses:
U.S. Treasury securities	$	2,410	$	(1)	$	2,206	$	(74)	$	4,616	$	(75)
RMBS:
Agency	6,472		(265)		51,771		(11,680)		58,243		(11,945)
Non-agency	5		0		11		(1)		16		(1)
Total RMBS	6,477		(265)		51,782		(11,681)		58,259		(11,946)
Agency CMBS	1,322		(26)		6,092		(854)		7,414		(880)
Other securities	771		(2)		308		(1)		1,079		(3)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)	$	10,980	$	(294)	$	60,388	$	(12,610)	$	71,368	$	(12,904)


	December 31, 2022
	Less than 12 Months				12 Months or Longer				Total
(Dollars in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale without an allowance for credit losses:
U.S. Treasury securities	$	2,464	$	(57)	$	448	$	(33)	$	2,912	$	(90)
RMBS:
Agency	23,271		(1,809)		36,803		(7,604)		60,074		(9,413)
Non-agency	14		(1)		3		0		17		(1)
Total RMBS	23,285		(1,810)		36,806		(7,604)		60,091		(9,414)
Agency CMBS	4,325		(267)		3,214		(493)		7,539		(760)
Other securities	555		(7)		76		(3)		631		(10)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)	$	30,629	$	(2,141)	$	40,544	$	(8,133)	$	71,173	$	(10,274)

__________

(1) Consists of approximately 2,910 and 2,840 securities in gross unrealized loss positions as of September 30, 2023 and December 31, 2022, respectively.

Schedule of Contractual Maturities for Securities

Table 2.3: Contractual Maturities and Weighted-Average Yields of Securities


	September 30, 2023
(Dollars in millions)	Due in 1 Year or Less		Due > 1 Year through 5 Years		Due > 5 Years through 10 Years		Due > 10 Years		Total
Fair value of securities available for sale:
U.S. Treasury securities	$	1,525	$	3,680	$	0	$	0	$	5,205
RMBS(1):
Agency	1		68		1,175		57,948		59,192
Non-agency	0		0		3		687		690
Total RMBS	1		68		1,178		58,635		59,882
Agency CMBS(1)	115		2,571		3,228		1,925		7,839
Other securities	512		1,370		29		0		1,911
Total securities available for sale	$	2,153	$	7,689	$	4,435	$	60,560	$	74,837
Amortized cost of securities available for sale	$	2,175	$	7,961	$	4,995	$	72,519	$	87,650
Weighted-average yield for securities available for sale	3.58%		3.83%		3.28%		2.83%		2.96%

__________

(1)As of September 30, 2023, the weighted-average expected maturities of RMBS and Agency CMBS were 7.0 years and 4.6 years, respectively.

Deposits and Borrowings

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Deposits and Borrowings


NOTE 7—DEPOSITS AND BORROWINGS

Our deposits, which include checking accounts, money market deposits, negotiable order of withdrawals, savings deposits and time deposits, represent our largest source of funding for our assets and operations. We also use a variety of other funding sources including short-term borrowings, senior and subordinated notes, securitized debt obligations and other borrowings. Securitized debt obligations are presented separately on our consolidated balance sheets, as they represent obligations of consolidated securitization trusts, while federal funds purchased and securities loaned or sold under agreements to repurchase, senior and subordinated notes and other borrowings, including FHLB advances, are included in other debt on our consolidated balance sheets.

Our total short-term borrowings generally consist of federal funds purchased, securities loaned or sold under agreements to repurchase and FHLB advances. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The following tables summarize the components of our deposits, short-term borrowings and long-term debt as of September 30, 2023 and December 31, 2022. The carrying value presented below for these borrowings includes any unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments.

Table 7.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt


(Dollars in millions)	September 30, 2023		December 31, 2022
Deposits:
Non-interest-bearing deposits	$	28,794	$	32,203
Interest-bearing deposits(1)	317,217		300,789
Total deposits	$	346,011	$	332,992
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	522	$	883

Total short-term borrowings	$	522	$	883


	September 30, 2023					December 31, 2022
(Dollars in millions)	Maturity Dates	Stated Interest Rates	Weighted-Average Interest Rate	Carrying Value		Carrying Value
Long-term debt:
Securitized debt obligations	2024-2028	0.55% - 6.12%	2.87%	$	17,417	$	16,973
Senior and subordinated notes:
Fixed unsecured senior debt(2)	2024-2034	0.80 - 6.38	4.01	26,419		24,134
Floating unsecured senior debt	2024-2025	6.00 - 6.66	6.18	1,248		1,597
Total unsecured senior debt			4.11	27,667		25,731
Fixed unsecured subordinated debt	2025-2032	2.36 - 4.20	3.57	3,616		5,095
Total senior and subordinated notes				31,283		30,826
Other long-term borrowings	2023-2031	0.35 - 9.91	6.38	25		33
Total long-term debt				$	48,725	$	47,832
Total short-term borrowings and long-term debt				$	49,247	$	48,715

__________

(2)Includes $1.2 billion of Euro (“EUR”) denominated unsecured notes as of both September 30, 2023 and December 31, 2022.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities:
Income from continuing operations, net of tax	$ 4,181	$ 6,128
Net income	4,181	6,128
Adjustments to reconcile net income to net cash from operating activities:
Provision for credit losses	7,569	3,431
Depreciation and amortization, net	2,428	2,367
Deferred tax benefit	(513)	(371)
Net securities losses	0	9
Loss (gain) on sales of loans	1	(193)
Stock-based compensation expense	372	238
Other	(46)	20
Loans held for sale:
Originations and purchases	(3,990)	(6,894)
Proceeds from sales and paydowns	3,847	6,242
Changes in operating assets and liabilities:
Changes in interest receivable	(350)	(390)
Changes in other assets	(483)	(5,898)
Changes in interest payable	158	152
Changes in other liabilities	301	812
Net change from discontinued operations	0	(1)
Net cash from operating activities	13,475	5,652
Securities available for sale:
Purchases	(7,334)	(11,614)
Proceeds from paydowns and maturities	6,663	16,905
Proceeds from sales	0	2,570
Loans:
Net changes in loans originated as held for investment	(8,827)	(25,469)
Principal recoveries of loans previously charged off	1,715	1,631
Net purchases of premises and equipment	(700)	(644)
Net cash used in acquisition activities	(2,785)	(1,127)
Net cash used in other investing activities	(962)	(543)
Net cash used in investing activities	(12,230)	(18,291)
Financing activities:
Changes in deposits	13,080	6,771
Issuance of securitized debt obligations	2,443	8,230
Maturities and paydowns of securitized debt obligations	(2,003)	(6,572)
Issuance of senior and subordinated notes and long-term FHLB advances	5,728	21,271
Maturities and paydowns of senior and subordinated notes and long-term FHLB advances	(4,886)	(8,061)
Changes in other borrowings	(369)	(307)
Common stock:
Net proceeds from issuances	235	214
Dividends paid	(698)	(719)
Preferred stock:
Dividends paid	(171)	(171)
Purchases of treasury stock	(560)	(4,791)
Proceeds from share-based payment activities	4	11
Net cash from financing activities	12,803	15,876
Changes in cash, cash equivalents and restricted cash for securitization investors	14,048	3,237
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period	31,256	22,054
Cash, cash equivalents and restricted cash for securitization investors, end of the period	45,304	25,291
Non-cash items:
Net transfers from loans held for investment to loans held for sale	1,174	680
Interest paid	10,196	1,927
Income tax paid	$ 871	$ 991

Loans - Trouble Debt Restructurings (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 495		$ 1,629
Commitments to lend on loans modified in TDRs	$ 75	214	$ 75	214
Credit Card:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 106		$ 289
Credit Card: \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		100.00%		100.00%
Average Rate Reduction		19.77%		19.63%
Credit Card: \| Domestic Card \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	19.40%		19.19%
Credit Card: \| Domestic Card \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	12 months		12 months
Credit Card: \| International card businesses \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	27.41%		27.08%
Credit Card: \| International card businesses \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	0 months		0 months
Consumer Banking:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 276		$ 796
Consumer Banking: \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		64.00%		56.00%
Average Rate Reduction		8.45%		8.59%
Consumer Banking: \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		97.00%		97.00%
Average Term Extension (Months)		5 months		4 months
Consumer Banking: \| Auto
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 275		$ 794
Consumer Banking: \| Auto \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		64.00%		56.00%
Average Rate Reduction		8.45%		8.59%
Weighted-average interest rate reduction	8.67%		8.74%
Consumer Banking: \| Auto \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		97.00%		97.00%
Average Term Extension (Months)		5 months		4 months
Payment delay duration (in months)	6 months		6 months
Consumer Banking: \| Retail banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 1		$ 2
Consumer Banking: \| Retail banking \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	0.00%		2.00%
Consumer Banking: \| Retail banking \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		60.00%		76.00%
Average Term Extension (Months)		14 months		13 months
Payment delay duration (in months)	8 months		13 months
Commercial Portfolio
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 113		$ 544
Commercial Portfolio \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		20.00%		6.00%
Average Rate Reduction		0.78%		0.35%
Commercial Portfolio \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		99.00%		72.00%
Average Term Extension (Months)		15 months		13 months
Commercial Portfolio \| Commercial and multifamily real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 38		$ 302
Commercial Portfolio \| Commercial and multifamily real estate \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		58.00%		10.00%
Average Rate Reduction		0.78%		0.35%
Weighted-average interest rate reduction	0.00%		0.00%
Commercial Portfolio \| Commercial and multifamily real estate \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		100.00%		80.00%
Average Term Extension (Months)		11 months		13 months
Payment delay duration (in months)	11 months		15 months
Commercial Portfolio \| Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 75		$ 242
Commercial Portfolio \| Commercial and industrial \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	0.25%		0.25%
Commercial Portfolio \| Commercial and industrial \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		98.00%		62.00%
Average Term Extension (Months)		17 months		14 months
Payment delay duration (in months)	17 months		9 months
Domestic credit card: \| Credit Card:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 77		$ 196
Domestic credit card: \| Credit Card: \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		100.00%		100.00%
Average Rate Reduction		16.79%		15.76%
International card businesses: \| Credit Card:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 29		$ 93
International card businesses: \| Credit Card: \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		100.00%		100.00%
Average Rate Reduction		27.52%		27.73%

Loans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest receivable	$ 2,200		$ 2,200		$ 1,900
Commitments to lend on loans modified in TDRs	$ 75	$ 214	$ 75	$ 214
Financing Receivable, Pledged Status [Extensible Enumeration]	Asset Pledged as Collateral [Member]		Asset Pledged as Collateral [Member]
Net loans held for investment	$ 299,825		$ 299,825		299,091
Loans held for sale	742		742		203
Federal Home Loan banks
Financing Receivable, Allowance for Credit Loss [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	31,600		31,600		19,900
Net loans held for investment	7,800		7,800		9,800
Federal Reserve Discount Window
Financing Receivable, Allowance for Credit Loss [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	40,900		40,900		19,700
Net loans held for investment	69,800		69,800		$ 34,100
Domestic credit card: \| Domestic Credit Card and Commercial Banking Portfolios [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans converted to term during period	$ 101	$ 51	$ 443	$ 383

Investment Securities - Investment Available for Sale (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 87,650	$ 87,047
Allowance for Credit Losses	(4)	(3)
Gross Unrealized Gains	101	154
Gross Unrealized Losses	(12,910)	(10,279)
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	74,837	76,919
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,279	5,129
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1	2
Gross Unrealized Losses	(75)	(90)
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	5,205	5,041
RMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	71,122	71,212
Allowance for Credit Losses	0	0
Gross Unrealized Gains	15	53
Gross Unrealized Losses	(11,945)	(9,413)
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	59,192	61,852
RMBS, Non-agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	620	653
Allowance for Credit Losses	(4)	(3)
Gross Unrealized Gains	81	93
Gross Unrealized Losses	(7)	(6)
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	690	737
RMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	71,742	71,865
Allowance for Credit Losses	(4)	(3)
Gross Unrealized Gains	96	146
Gross Unrealized Losses	(11,952)	(9,419)
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	59,882	62,589
CMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,718	8,626
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1	4
Gross Unrealized Losses	(880)	(760)
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	7,839	7,870
Other securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,911	1,427
Allowance for Credit Losses	0	0
Gross Unrealized Gains	3	2
Gross Unrealized Losses	(3)	(10)
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	1,911	1,419
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	$ 1,200	$ 707
US Treasury and Agency securities \| Available-for-sale securities \| Government Contracts Concentration Risk
Debt Securities, Available-for-sale [Line Items]
Percentage of portfolio	97.00%	97.00%

Loans - Commercial Banking: Risk Profile by Internal Risk Rating (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 314,780	$ 312,331
Commercial Portfolio
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	8,095	20,217
2022	19,101	14,024
2021	11,624	6,570
2020	5,596	7,420
2019	6,060	4,431
Prior	10,840	10,374
Total Term Loans	61,316	63,036
Revolving Loans	29,698	31,594
Revolving Loans Converted to Term	139	46
Total	91,153	94,676
Commercial Portfolio \| Commercial and multifamily real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	3,149	6,220
2022	6,065	5,316
2021	3,698	1,888
2020	1,505	3,508
2019	2,967	2,324
Prior	4,983	4,805
Total Term Loans	22,367	24,061
Revolving Loans	13,230	13,367
Revolving Loans Converted to Term	25	25
Total	35,622	37,453
Commercial Portfolio \| Commercial and multifamily real estate \| Noncriticized
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	2,919	5,860
2022	4,848	4,807
2021	3,092	1,676
2020	1,247	2,879
2019	2,421	1,927
Prior	3,796	3,474
Total Term Loans	18,323	20,623
Revolving Loans	13,215	13,254
Revolving Loans Converted to Term	25	25
Total	31,563	33,902
Commercial Portfolio \| Commercial and multifamily real estate \| Criticized \| Criticized performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	230	359
2022	1,217	487
2021	560	212
2020	258	535
2019	419	378
Prior	901	1,196
Total Term Loans	3,585	3,167
Revolving Loans	15	113
Revolving Loans Converted to Term	0	0
Total	3,600	3,280
Commercial Portfolio \| Commercial and multifamily real estate \| Criticized \| Criticized nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0	1
2022	0	22
2021	46	0
2020	0	94
2019	127	19
Prior	286	135
Total Term Loans	459	271
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total	459	271
Commercial Portfolio \| Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	4,946	13,997
2022	13,036	8,708
2021	7,926	4,682
2020	4,091	3,912
2019	3,093	2,107
Prior	5,857	5,569
Total Term Loans	38,949	38,975
Revolving Loans	16,468	18,227
Revolving Loans Converted to Term	114	21
Total	55,531	57,223
Commercial Portfolio \| Commercial and industrial \| Noncriticized
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	4,704	13,485
2022	12,196	7,993
2021	7,329	4,466
2020	3,796	3,420
2019	2,595	1,797
Prior	5,319	5,349
Total Term Loans	35,939	36,510
Revolving Loans	15,352	17,187
Revolving Loans Converted to Term	114	21
Total	51,405	53,718
Commercial Portfolio \| Commercial and industrial \| Criticized \| Criticized performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	242	482
2022	815	686
2021	575	216
2020	270	336
2019	344	228
Prior	457	163
Total Term Loans	2,703	2,111
Revolving Loans	1,060	964
Revolving Loans Converted to Term	0	0
Total	3,763	3,075
Commercial Portfolio \| Commercial and industrial \| Criticized \| Criticized nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0	30
2022	25	29
2021	22	0
2020	25	156
2019	154	82
Prior	81	57
Total Term Loans	307	354
Revolving Loans	56	76
Revolving Loans Converted to Term	0	0
Total	$ 363	$ 430

Fair Value Measurement - Level 3 Recurring Fair Value Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Other comprehensive income (loss), net of tax
Derivative, Fair Value, Net [Abstract]
Derivative assets, gross amount	$ 3,381.0		$ 3,381.0		$ 3,098.0
Derivative liabilities, gross amount	3,699.0		3,699.0		4,550.0
Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net Unrealized Gains (Losses) Included in OCI Related to Assets and Liabilities Still Held	(9.0)	$ (15.0)	(14.0)	$ (53.0)
Derivative, Fair Value, Net [Abstract]
Beginning balance	64.0	(12.0)	5.0	19.0
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	(2.0)	(22.0)	(20.0)	(63.0)
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	0.0	0.0	0.0	0.0
Purchases	0.0	0.0	0.0	0.0
Sales	0.0	0.0	0.0	0.0
Issuances	3.0	(11.0)	176.0	25.0
Settlements	18.0	0.0	75.0	2.0
Transfers Into Level 3	(15.0)	0.0	(167.0)	(28.0)
Transfers Out of Level 3	0.0	40.0	(1.0)	40.0
Ending balance	68.0	(5.0)	68.0	(5.0)
Derivative assets, gross amount	1,323.0	110.0	1,323.0	110.0	79.0
Derivative liabilities, gross amount	1,255.0	115.0	1,255.0	115.0	$ 74.0
RMBS \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	206.0	240.0	236.0	258.0
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	2.0	2.0	6.0	15.0
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	(5.0)	(9.0)	(4.0)	(29.0)
Purchases	0.0	0.0	0.0	0.0
Sales	0.0	0.0	0.0	0.0
Issuances	0.0	0.0	0.0	0.0
Settlements	(6.0)	(10.0)	(17.0)	(53.0)
Transfers Into Level 3	2.0	8.0	47.0	92.0
Transfers Out of Level 3	(50.0)	(13.0)	(119.0)	(65.0)
Ending balance	149.0	218.0	149.0	218.0
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	2.0	2.0	5.0	6.0
CMBS \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	133.0	13.0	142.0	9.0
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	0.0	(1.0)	0.0	(1.0)
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	(6.0)	(1.0)	(12.0)	(2.0)
Purchases	0.0	0.0	0.0	0.0
Sales	0.0	0.0	0.0	0.0
Issuances	0.0	0.0	0.0	0.0
Settlements	(1.0)	(8.0)	(4.0)	(13.0)
Transfers Into Level 3	0.0	177.0	0.0	190.0
Transfers Out of Level 3	0.0	0.0	0.0	(3.0)
Ending balance	126.0	180.0	126.0	180.0
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	0.0	0.0	0.0	(1.0)
Available-for-sale securities \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	339.0	253.0	378.0	267.0
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	2.0	1.0	6.0	14.0
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	(11.0)	(10.0)	(16.0)	(31.0)
Purchases	0.0	0.0	0.0	0.0
Sales	0.0	0.0	0.0	0.0
Issuances	0.0	0.0	0.0	0.0
Settlements	(7.0)	(18.0)	(21.0)	(66.0)
Transfers Into Level 3	2.0	185.0	47.0	282.0
Transfers Out of Level 3	(50.0)	(13.0)	(119.0)	(68.0)
Ending balance	275.0	398.0	275.0	398.0
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	2.0	2.0	5.0	5.0
Retained interest in securitizations \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	36.0	37.0	36.0	41.0
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	(1.0)	(1.0)	(1.0)	(5.0)
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	0.0	0.0	0.0	0.0
Purchases	0.0	0.0	0.0	0.0
Sales	0.0	0.0	0.0	0.0
Issuances	0.0	0.0	0.0	0.0
Settlements	0.0	0.0	0.0	0.0
Transfers Into Level 3	0.0	0.0	0.0	0.0
Transfers Out of Level 3	0.0	0.0	0.0	0.0
Ending balance	35.0	36.0	35.0	36.0
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	(1.0)	(1.0)	(1.0)	(5.0)
Net derivative assets (liabilities) \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	$ 4.0	$ (22.0)	$ 71.0	$ (20.0)

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income:
Loans, including loans held for sale	$ 9,696	$ 7,578	$ 27,476	$ 20,550
Investment securities	627	499	1,881	1,336
Other	550	123	1,436	193
Total interest income	10,873	8,200	30,793	22,079
Interest expense:
Deposits	2,611	689	6,744	1,200
Securitized debt obligations	249	120	696	214
Senior and subordinated notes	579	319	1,596	644
Other borrowings	11	69	35	104
Total interest expense	3,450	1,197	9,071	2,162
Net interest income	7,423	7,003	21,722	19,917
Change in estimated partner reimbursements that decreased/(increased) provision for credit losses	2,284	1,669	7,569	3,431
Net interest income after provision for credit losses	5,139	5,334	14,153	16,486
Non-interest income:
Interchange fees, net	1,234	1,195	3,586	3,429
Service charges and other customer-related fees	453	415	1,243	1,230
Other	256	192	730	634
Total non-interest income	1,943	1,802	5,559	5,293
Non-interest expense:
Salaries and associate benefits	2,274	2,187	7,018	6,159
Occupancy and equipment	518	502	1,532	1,496
Marketing	972	978	2,755	2,899
Professional services	295	471	909	1,326
Communications and data processing	344	349	1,038	1,027
Amortization of Intangibles	24	17	60	45
Other	433	445	1,287	1,131
Total non-interest expense	4,860	4,949	14,599	14,083
Loss from continuing operations before income taxes	2,222	2,187	5,113	7,696
Income tax provision (benefit)	432	493	932	1,568
Income from continuing operations, net of tax	1,790	1,694	4,181	6,128
Net income	1,790	1,694	4,181	6,128
Dividends and undistributed earnings allocated to participating securities	(28)	(21)	(67)	(74)
Preferred stock dividends	(57)	(57)	(171)	(171)
Net income available to common stockholders	$ 1,705	$ 1,616	$ 3,943	$ 5,883
Net income from continuing operations	$ 4.46	$ 4.21	$ 10.31	$ 14.90
Net income per basic common share	4.46	4.21	10.31	14.90
Diluted earnings per common share:
Net income from continuing operations	4.45	4.20	10.28	14.84
Net income per diluted common share	$ 4.45	$ 4.20	$ 10.28	$ 14.84

Business Segments and Revenue from Contracts with Customers - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting Information [Line Items]
Number of operating segments	3

Investment Securities - Contractual Maturities and Weighted-Average Yields of Securities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Securities available for sale
Due in 1 year or less	$ 2,153
Due after 1 year through 5 years	7,689
Due after 5 years through 10 years	4,435
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	60,560
Securities available for sale	74,837	$ 76,919
Amortized cost of securities available for sale
Due in 1 year or less	2,175
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost	7,961
Due after 5 years through 10 years	4,995
Due > 10 Years	72,519
Amortized Cost	$ 87,650	87,047
Weighted average yield for securities available for sale
Due in 1 Year or Less	3.58%
Due > 1 Year through 5 Years	3.83%
Due > 5 Years through 10 Years	3.28%
Due > 10 Years	2.83%
Total weighted average yield	2.96%
U.S. Treasury securities
Securities available for sale
Due in 1 year or less	$ 1,525
Due after 1 year through 5 years	3,680
Due after 5 years through 10 years	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	0
Securities available for sale	5,205	5,041
Amortized cost of securities available for sale
Amortized Cost	5,279	5,129
RMBS, Agency
Securities available for sale
Due in 1 year or less	1
Due after 1 year through 5 years	68
Due after 5 years through 10 years	1,175
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	57,948
Securities available for sale	59,192	61,852
Amortized cost of securities available for sale
Amortized Cost	71,122	71,212
RMBS, Non-agency
Securities available for sale
Due in 1 year or less	0
Due after 1 year through 5 years	0
Due after 5 years through 10 years	3
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	687
Securities available for sale	690	737
Amortized cost of securities available for sale
Amortized Cost	620	653
RMBS
Securities available for sale
Due in 1 year or less	1
Due after 1 year through 5 years	68
Due after 5 years through 10 years	1,178
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	58,635
Securities available for sale	59,882	62,589
Amortized cost of securities available for sale
Amortized Cost	$ 71,742	71,865
Weighted average yield for securities available for sale
Weighted-average expected life	7 years
CMBS, Agency
Securities available for sale
Due in 1 year or less	$ 115
Due after 1 year through 5 years	2,571
Due after 5 years through 10 years	3,228
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	1,925
Securities available for sale	7,839	7,870
Amortized cost of securities available for sale
Amortized Cost	$ 8,718	8,626
Weighted average yield for securities available for sale
Weighted-average expected life	4 years 7 months 6 days
Other securities
Securities available for sale
Due in 1 year or less	$ 512
Due after 1 year through 5 years	1,370
Due after 5 years through 10 years	29
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	0
Securities available for sale	1,911	1,419
Amortized cost of securities available for sale
Amortized Cost	$ 1,911	$ 1,427

Commitments, Contingencies, Guarantees, and Others

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies, Guarantees and Others


NOTE 13—COMMITMENTS, CONTINGENCIES, GUARANTEES AND OTHERS

Commitments to Lend

Our unfunded lending commitments primarily consist of credit card lines, loan commitments to customers of both our Commercial Banking and Consumer Banking businesses, as well as standby and commercial letters of credit. These commitments, other than credit card lines and certain other unconditionally cancellable lines of credit, are legally binding conditional agreements that have fixed expirations or termination dates and specified interest rates and purposes. The contractual amount of these commitments represents the maximum possible credit risk to us should the counterparty draw upon the commitment. We generally manage the potential risk of unfunded lending commitments by limiting the total amount of arrangements, monitoring the size and maturity structure of these portfolios and applying the same credit standards for all of our credit activities.

For unused credit card lines, we have not experienced and do not anticipate that all of our customers will access their entire available line at any given point in time. Commitments to extend credit other than credit card lines generally require customers to maintain certain credit standards. Collateral requirements and loan-to-value (“LTV”) ratios are the same as those for funded transactions and are established based on management’s credit assessment of the customer. These commitments may expire without being drawn upon; therefore, the total commitment amount does not necessarily represent future funding requirements.

We also issue letters of credit, such as financial standby, performance standby and commercial letters of credit, to meet the financing needs of our customers. Standby letters of credit are conditional commitments issued by us to guarantee the performance of a customer to a third party in a borrowing arrangement. Commercial letters of credit are short-term commitments issued primarily to facilitate trade finance activities for customers and are generally collateralized by the goods being shipped to the customer. These collateral requirements are similar to those for funded transactions and are established based on management’s credit assessment of the customer. Management conducts regular reviews of all outstanding letters of credit and the results of these reviews are considered in assessing the adequacy of reserves for unfunded lending commitments.

Table 13.1: Unfunded Lending Commitments


	Contractual Amount				Carrying Value
(Dollars in millions)	September 30, 2023		December 31, 2022		September 30, 2023		December 31, 2022
Credit card lines	$	390,477	$	359,507	N/A		N/A
Other loan commitments(1)	47,280		48,405		$	102	$	176
Standby letters of credit and commercial letters of credit(2)	1,441		1,402		23		28
Total unfunded lending commitments	$	439,198	$	409,314	$	125	$	204

__________

(1)Includes $5.1 billion and $4.4 billion of advised lines of credit as of September 30, 2023 and December 31, 2022, respectively.

(2)These financial guarantees have expiration dates that range from 2024 to 2027 as of September 30, 2023.

Loss Sharing Agreements

Within our Commercial Banking business, we originate multifamily commercial real estate loans with the intent to sell them to the GSEs. We enter into loss sharing agreements with the GSEs upon the sale of these originated loans. Beginning January 1, 2020, we elected the fair value option on new loss sharing agreements entered into. Unrealized gains and losses are recorded in other non-interest income in our consolidated statements of income. For those loss sharing agreements entered into as of and prior to December 31, 2019, we amortize the liability recorded at inception into non-interest income as we are released from risk of having to make a payment and record our estimate of expected credit losses each period through the provision for credit losses in our consolidated statements of income. The liability recognized on our consolidated balance sheets for these loss sharing agreements was $117 million and $82 million as of September 30, 2023 and December 31, 2022, respectively. See “Note 4—Allowance for Credit Losses and Reserve for Unfunded Lending Commitments” for information related to our credit card partnership loss sharing arrangements.

Litigation

In accordance with the current accounting standards for loss contingencies, we establish reserves for litigation-related matters that arise from the ordinary course of our business activities when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss can be reasonably estimated. None of the amounts we currently have recorded individually or in the aggregate are considered to be material to our financial condition. Litigation claims and proceedings of all types are subject to many uncertain factors that generally cannot be predicted with assurance. Below we provide a description of potentially material legal proceedings and claims.

For some of the matters disclosed below, we are able to estimate reasonably possible losses above existing reserves, and for other disclosed matters, such an estimate is not possible at this time. For those matters below where an estimate is possible, management currently estimates the reasonably possible future losses beyond our reserves as of September 30, 2023 are approximately $200 million. Our reserve and reasonably possible loss estimates involve considerable judgment and reflect that there is still significant uncertainty regarding numerous factors that may impact the ultimate loss levels. Notwithstanding, our attempt to estimate a reasonably possible range of loss beyond our current accrual levels for some litigation matters based on current information, it is possible that actual future losses will exceed both the current accrual level and the range of reasonably possible losses disclosed here. Given the inherent uncertainties involved in these matters, especially those involving governmental agencies, and the very large or indeterminate damages sought in some of these matters, there is significant uncertainty as to the ultimate liability we may incur from these litigation matters and an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period.

Interchange

In 2005, a putative class of retail merchants filed antitrust lawsuits against MasterCard and Visa and several issuing banks, including Capital One, seeking both injunctive relief and monetary damages for an alleged conspiracy by defendants to fix the level of interchange fees. Other merchants have asserted similar claims in separate lawsuits, and while these separate cases did not name any issuing banks, Visa, MasterCard and issuers, including Capital One, have entered settlement and judgment sharing agreements allocating the liabilities of any judgment or settlement arising from all interchange-related cases.

The lawsuits were consolidated before the U.S. District Court for the Eastern District of New York for certain purposes and were settled in 2012. The class settlement, however, was invalidated by the United States Court of Appeals for the Second Circuit in June 2016, and the suit was bifurcated into separate class actions seeking injunctive and monetary relief, respectively. In addition, numerous merchant groups opted out of the 2012 settlement and have pursued their own claims. The claims by the injunctive relief class have not been resolved, but the settlement of $5.5 billion for the monetary damages class received final approval from the trial court, and has been appealed to the U.S. Court of Appeals for the Second Circuit. Visa and MasterCard have also settled a number of the opt-out cases, which required non-material payments from issuing banks, including Capital One. Visa created a litigation escrow account following its initial public offering of stock in 2008 that funds settlements for its member banks, and any settlements related to MasterCard-allocated losses have either already been paid or are reflected in our reserves.

Cybersecurity Incident

On July 29, 2019, we announced that on March 22 and 23, 2019 an outside individual gained unauthorized access to our systems. This individual obtained certain types of personal information relating to people who had applied for our credit card products and to our credit card customers (the “Cybersecurity Incident”). As a result of the Cybersecurity Incident, we have been subject to numerous legal proceedings and other inquiries and could be the subject of additional proceedings and inquiries in the future.

Consumer class actions. We are named as a defendant in 5 putative consumer class action cases in Canadian courts alleging harm from the Cybersecurity Incident and seeking various remedies, including monetary and injunctive relief. The lawsuits allege breach of contract, negligence, violations of various privacy laws and a variety of other legal causes of action. In the second quarter of 2022, a trial court in British Columbia preliminarily certified a class of all impacted Canadian consumers except those in Quebec, which would allow the case to proceed with discovery on a classwide basis under Canadian law. The preliminary certification decision in British Columbia has been appealed. In the third quarter of 2023, a trial court in Quebec preliminarily authorized a class of all impacted consumers in Quebec. This decision also has been appealed. Proceedings are continuing in parallel in Ontario and Alberta.

Governmental inquiries. In August 2020, we entered into consent orders with the Federal Reserve and the Office of the Comptroller of the Currency (“OCC”) resulting from regulatory reviews of the Cybersecurity Incident and relating to ongoing enhancements of our cybersecurity and operational risk management processes. We paid an $80 million penalty to the U.S. Treasury as part of the OCC agreement. The Federal Reserve agreement did not contain a monetary penalty. The OCC lifted its consent order on August 31, 2022 and the Federal Reserve lifted its consent order on July 5, 2023. Canada’s Office of Privacy Commissioner’s (“OPC”) investigation into the Cybersecurity Incident is still open.

Walmart Litigation

On April 7, 2023, Walmart filed a lawsuit in the Southern District of New York seeking a declaratory judgment that it has the contractual right to early termination of the credit card partnership agreement under which we are the exclusive issuer of Walmart’s private label and co-branded credit card program in the U.S. and share in certain related economics. On May 2, 2023, Walmart filed an amended complaint in which it also alleges breach of contract and seeks damages caused by any delay in termination. On May 4, 2023, we filed an Answer and Counterclaim to Walmart’s amended complaint, denying that Walmart has any right to terminate the partnership and alleging that Walmart has breached its contractual obligations to Capital One.

U.K. PPI Litigation

In the U.K., we previously sold payment protection insurance (“PPI”). For several years leading up to the claims submission deadline of August 29, 2019 (as set by the U.K. Financial Conduct Authority), we received customer complaints and regulatory claims relating to PPI. COEP has materially resolved the PPI complaints and regulatory claims received prior to the deadline. Some of the claimants in the U.K. PPI regulatory claims process have subsequently initiated legal proceedings, seeking additional redress. We are responding to these proceedings as we receive them.

Savings Account Litigation

In July 2023, Capital One was sued in a putative class action in the Eastern District of Virginia by savings account holders alleging breach of contract and a variety of other causes of action relating to Capital One’s introduction of a new savings account product with a higher interest rate than existing savings account products. Capital One intends to file its response to the lawsuit in the fourth quarter of 2023.

Other Pending and Threatened Litigation

In addition, we are commonly subject to various pending and threatened legal actions relating to the conduct of our normal business activities. In the opinion of management, the ultimate aggregate liability, if any, arising out of all such other pending or threatened legal actions is not expected to be material to our consolidated financial position or our results of operations.

Goodwill and Intangible Assets - Components (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Schedule of Intangible Assets by Major Class [Line Items]
Goodwill, gross	$ 15,048		$ 15,048		$ 14,777
Goodwill	15,048		15,048		14,777
Intangible assets, gross (excluding Goodwill)	540		540		342
Accumulated amortization	(208)		(208)		(183)
Intangible assets, net (excluding Goodwill)	332		332		159
Intangible assets gross including Goodwill	15,588		15,588		15,119
Total goodwill and other intangible assets, net carrying value	15,380		15,380		14,936
Commercial MSRs, gross	654		654		660
Commercial MSR, accumulated amortization	(249)		(249)		(223)
Total commercial MSRs	405		405		437
Amortization of Intangibles	24	$ 17	60	$ 45
PCCR intangibles
Schedule of Intangible Assets by Major Class [Line Items]
Intangible assets, gross (excluding Goodwill)	369		369		147
Accumulated amortization	(76)		(76)		(26)
Intangible assets, net (excluding Goodwill)	293		293		121
Other intangible assets
Schedule of Intangible Assets by Major Class [Line Items]
Intangible assets, gross (excluding Goodwill)	171		171		195
Accumulated amortization	(132)		(132)		(157)
Intangible assets, net (excluding Goodwill)	$ 39		$ 39		$ 38

Commitments, Contingencies, Guarantees, and Others - Loss Sharing and UK PPI (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Loss sharing agreements
Loss Contingencies [Line Items]
Guarantee obligation	$ 117	$ 82

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Securities available for sale, amortized cost	$ 87,650	$ 87,047
Allowance for Credit Losses	(4)	(3)
Loans Held-for-sale, Fair Value Disclosure	$ 314	$ 191
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	4,975,000	4,975,000
Preferred stock, shares outstanding	4,975,000	4,975,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	695,336,698	690,334,422
Common stock, shares outstanding	380,991,150	381,318,702
Treasury stock, par value (in dollars per share)	$ 0.01	$ 0.01
Treasury stock, shares	314,345,548	309,015,720
Total assets	$ 471,435	$ 455,249
Stockholders' Equity Attributable to Parent	$ 53,668	$ 52,582

Fair Value Measurement - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Financial assets:
Loans Held-for-sale, Fair Value Disclosure	$ 314	$ 191
Level 1
Financial assets:
Cash and cash equivalents	4,620	5,193
Restricted cash for securitization investors	435	400
Net loans held for investment	0	0
Loans Held-for-sale, Fair Value Disclosure	0	0
Interest receivable	0	0
Other investments	0	0
Financial liabilities:
Deposits with defined maturities	0	0
Securitized debt obligations	0	0
Senior and subordinated notes	0	0
Federal funds purchased and securities loaned or sold under agreements to repurchase	0	0
Interest payable	0	0
Level 2
Financial assets:
Cash and cash equivalents	40,249	25,663
Restricted cash for securitization investors	0	0
Net loans held for investment	0	0
Loans Held-for-sale, Fair Value Disclosure	440	11
Interest receivable	2,469	2,104
Other investments	1,329	1,326
Financial liabilities:
Deposits with defined maturities	78,833	45,531
Securitized debt obligations	17,409	16,918
Senior and subordinated notes	31,051	30,744
Federal funds purchased and securities loaned or sold under agreements to repurchase	522	883
Interest payable	685	527
Level 3
Financial assets:
Cash and cash equivalents	0	0
Restricted cash for securitization investors	0	0
Net loans held for investment	305,810	302,920
Loans Held-for-sale, Fair Value Disclosure	0	0
Interest receivable	0	0
Other investments	0	0
Financial liabilities:
Deposits with defined maturities	0	0
Securitized debt obligations	0	0
Senior and subordinated notes	0	0
Federal funds purchased and securities loaned or sold under agreements to repurchase	0	0
Interest payable	0	0
Carrying Value
Financial assets:
Cash and cash equivalents	44,869	30,856
Restricted cash for securitization investors	435	400
Net loans held for investment	299,825	299,091
Loans Held-for-sale, Fair Value Disclosure	428	11
Interest receivable	2,469	2,104
Other investments	1,329	1,326
Financial liabilities:
Deposits with defined maturities	79,176	45,858
Securitized debt obligations	17,417	16,973
Senior and subordinated notes	31,283	30,826
Federal funds purchased and securities loaned or sold under agreements to repurchase	522	883
Interest payable	685	527
Estimated Fair Value
Financial assets:
Cash and cash equivalents	44,869	30,856
Restricted cash for securitization investors	435	400
Net loans held for investment	305,810	302,920
Loans Held-for-sale, Fair Value Disclosure	440	11
Interest receivable	2,469	2,104
Other investments	1,329	1,326
Financial liabilities:
Deposits with defined maturities	78,833	45,531
Securitized debt obligations	17,409	16,918
Senior and subordinated notes	31,051	30,744
Federal funds purchased and securities loaned or sold under agreements to repurchase	522	883
Interest payable	$ 685	$ 527

Business Segments and Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business Segments and Revenue from Contracts with Customers


NOTE 12—BUSINESS SEGMENTS AND REVENUE FROM CONTRACTS WITH CUSTOMERS

Our principal operations are organized into three major business segments, which are defined primarily based on the products and services provided or the types of customers served: Credit Card, Consumer Banking and Commercial Banking. The operations of acquired businesses have been integrated into or managed as a part of our existing business segments. Certain activities that are not part of a segment, such as management of our corporate investment portfolio, asset/liability management by our centralized Corporate Treasury group and residual tax expense or benefit to arrive at the consolidated effective tax rate that is not assessed to our primary business segments, are included in the Other category.

Basis of Presentation

We report the results of each of our business segments on a continuing operations basis. The results of our individual businesses reflect the manner in which management evaluates performance and makes decisions about funding our operations and allocating resources.

Business Segment Reporting Methodology

The results of our business segments are intended to present each segment as if it were a stand-alone business. Our internal management and reporting process used to derive our segment results employs various allocation methodologies, including funds transfer pricing, to assign certain balance sheet assets, deposits and other liabilities and their related revenues and expenses directly or indirectly attributable to each business segment. Our funds transfer pricing process managed by our centralized Corporate Treasury group provides a funds credit for sources of funds, such as deposits generated by our Consumer Banking and Commercial Banking businesses, and a charge for the use of funds by each segment. The allocation is unique to each business segment and acquired business and is based on the composition of assets and liabilities. The funds transfer pricing process considers the interest rate and liquidity risk characteristics of assets and liabilities and off-balance sheet products. Periodically the methodology and assumptions utilized in the funds transfer pricing process are adjusted to reflect economic conditions and other factors, which may impact the allocation of net interest income to the business segments. Due to the integrated nature of our business segments, estimates and judgments have been made in allocating certain revenue and expense items. Transactions between segments are based on specific criteria or approximate market rate. We regularly assess the assumptions, methodologies and reporting classifications used for segment reporting, which may result in the implementation of refinements or changes in future periods. We provide additional information on the allocation methodologies used to derive our business segment results in “Part II—Item 8. Financial Statements and Supplementary Data—Note 17—Business Segments and Revenue from Contracts with Customers” in our 2022 Form 10-K.

Segment Results and Reconciliation

We may periodically change our business segments or reclassify business segment results based on modifications to our management reporting methodologies or changes in organizational alignment. The following table presents our business segment results for the three and nine months ended September 30, 2023 and 2022, selected balance sheet data as of September 30, 2023 and 2022, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.

Table 12.1: Segment Results and Reconciliation



	Three Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	5,114	$	2,133	$	621	$	(445)	$	7,423
Non-interest income	1,513		142		288		0		1,943
Total net revenue (loss)(2)	6,627		2,275		909		(445)		9,366
Provision for credit losses	1,953		213		116		2		2,284
Non-interest expense	3,015		1,262		512		71		4,860
Income (loss) from continuing operations before income taxes	1,659		800		281		(518)		2,222
Income tax provision (benefit)	393		189		67		(217)		432
Income (loss) from continuing operations, net of tax	$	1,266	$	611	$	214	$	(301)	$	1,790
Loans held for investment	$	146,783	$	76,844	$	91,153	$	0	$	314,780
Deposits	0		290,789		36,035		19,187		346,011


	Nine Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	14,498	$	6,762	$	1,901	$	(1,439)	$	21,722
Non-interest income	4,375		426		757		1		5,559
Total net revenue (loss)(2)	18,873		7,188		2,658		(1,438)		27,281
Provision for credit losses	6,298		747		521		3		7,569
Non-interest expense	9,073		3,776		1,524		226		14,599
Income (loss) from continuing operations before income taxes	3,502		2,665		613		(1,667)		5,113
Income tax provision (benefit)	830		629		145		(672)		932
Income (loss) from continuing operations, net of tax	$	2,672	$	2,036	$	468	$	(995)	$	4,181
Loans held for investment	$	146,783	$	76,844	$	91,153	$	0	$	314,780
Deposits	0		290,789		36,035		19,187		346,011



	Three Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	4,313	$	2,311	$	699	$	(320)	$	7,003
Non-interest income (loss)	1,454		129		319		(100)		1,802
Total net revenue (loss)(2)	5,767		2,440		1,018		(420)		8,805
Provision (benefit) for credit losses	1,261		285		123		0		1,669
Non-interest expense	3,004		1,340		542		63		4,949
Income (loss) from continuing operations before income taxes	1,502		815		353		(483)		2,187
Income tax provision (benefit)	356		193		83		(139)		493
Income (loss) from continuing operations, net of tax	$	1,146	$	622	$	270	$	(344)	$	1,694
Loans held for investment	$	126,913	$	81,199	$	95,831	$	0	$	303,943
Deposits	0		256,661		41,058		19,474		317,193


	Nine Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	12,051	$	6,571	$	1,941	$	(646)	$	19,917
Non-interest income (loss)	4,322		330		868		(227)		5,293
Total net revenue (loss)(2)	16,373		6,901		2,809		(873)		25,210
Provision (benefit) for credit losses	2,387		696		353		(5)		3,431
Non-interest expense	8,558		3,862		1,515		148		14,083
Income (loss) from continuing operations before income taxes	5,428		2,343		941		(1,016)		7,696
Income tax provision (benefit)	1,291		555		223		(501)		1,568
Income (loss) from continuing operations, net of tax	$	4,137	$	1,788	$	718	$	(515)	$	6,128
Loans held for investment	$	126,913	$	81,199	$	95,831	$	0	$	303,943
Deposits	0		256,661		41,058		19,474		317,193

_________

(1)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.

(2)Total net revenue was reduced by $449 million and $1.3 billion in the three and nine months ended September 30, 2023, respectively, and $222 million and $625 million in the three and nine months ended September 30, 2022, respectively, for credit card finance charges and fees charged off as uncollectible.

Revenue from Contracts with Customers

The majority of our revenue from contracts with customers consists of interchange fees, service charges and other customer-related fees, and other contract revenue. Interchange fees are primarily from our Credit Card business and are recognized upon settlement with the interchange networks, net of rewards earned by customers. Service charges and other customer-related fees within our Consumer Banking business are primarily related to fees earned on consumer deposit accounts for account maintenance and various transaction-based services such as automated teller machine (“ATM”) usage. Service charges and other customer-related fees within our Commercial Banking business are mostly related to fees earned on treasury management and capital markets services. Other contract revenue in our Credit Card business consists primarily of revenue from our partnership arrangements. Other contract revenue in our Consumer Banking business consists primarily of revenue earned on certain marketing and promotional events from our auto dealers. Revenue from contracts with customers is included in non-interest income in our consolidated statements of income.

The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the three and nine months ended September 30, 2023 and 2022.

Table 12.2: Revenue from Contracts with Customers and Reconciliation to Segment Results



	Three Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	1,115	$	92	$	27	$	0	$	1,234
Service charges and other customer-related fees	0		21		78		0		99
Other	111		28		3		0		142
Total contract revenue	1,226		141		108		0		1,475
Revenue from other sources	287		1		180		0		468
Total non-interest income	$	1,513	$	142	$	288	$	0	$	1,943


	Nine Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	3,251	$	270	$	64	$	1	$	3,586
Service charges and other customer-related fees	0		64		173		(1)		236
Other	257		74		16		0		347
Total contract revenue	3,508		408		253		0		4,169
Revenue from other sources	867		18		504		1		1,390
Total non-interest income	$	4,375	$	426	$	757	$	1	$	5,559



	Three Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	1,085	$	83	$	27	$	0	$	1,195
Service charges and other customer-related fees	0		23		62		0		85
Other	104		18		13		0		135
Total contract revenue	1,189		124		102		0		1,415
Revenue (reduction) from other sources	265		5		217		(100)		387
Total non-interest income (loss)	$	1,454	$	129	$	319	$	(100)	$	1,802


	Nine Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	3,115	$	234	$	79	$	1	$	3,429
Service charges and other customer-related fees	0		70		190		(1)		259
Other	297		56		14		0		367
Total contract revenue	3,412		360		283		0		4,055
Revenue (reduction) from other sources	910		(30)		585		(227)		1,238
Total non-interest income (loss)	$	4,322	$	330	$	868	$	(227)	$	5,293

__________

(2)Interchange fees are presented net of customer reward expenses

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
-Subparagraph (f)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangibles	$ 24	$ 17	$ 60	$ 45

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 1,790	$ 1,694	$ 4,181	$ 6,128

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Variable Interest Entities and Securitization [Abstract]

Variable Interest Entities and Securitizations (Tables)

9 Months Ended

Sep. 30, 2023

Carrying Amount of Assets and Liabilities of Variable Interest Entities

Table 5.1: Carrying Amount of Consolidated and Unconsolidated VIEs


	September 30, 2023
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	24,610	$	14,689	$	0	$	0	$	0
Auto loan securitizations	4,464		3,651		0		0		0
Total securitization-related VIEs	29,074		18,340		0		0		0
Other VIEs:(3)
Affordable housing entities	271		5		5,551		2,049		5,551
Entities that provide capital to low-income and rural communities	2,509		10		0		0		0
Other(4)	0		0		466		0		466
Total other VIEs	2,780		15		6,017		2,049		6,017
Total VIEs	$	31,854	$	18,355	$	6,017	$	2,049	$	6,017


	December 31, 2022
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	23,620	$	13,877	$	0	$	0	$	0
Auto loan securitizations	4,863		4,002		0		0		0
Total securitization-related VIEs	28,483		17,879		0		0		0


	December 31, 2022
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Other VIEs:(3)
Affordable housing entities	261		19		4,944		1,596		4,944
Entities that provide capital to low-income and rural communities	2,301		10		0		0		0
Other(4)	0		0		337		0		337
Total other VIEs	2,562		29		5,281		1,596		5,281
Total VIEs	$	31,045	$	17,908	$	5,281	$	1,596	$	5,281

__________

(1)Excludes insignificant VIEs from previously exited businesses.

(2)Represents the carrying amount of assets and liabilities of the VIE, which includes the seller’s interest and repurchased notes held by other related parties.

(4)Primarily consists of variable interests in companies that promote renewable energy sources and other equity method investments.

External Debt and Receivable Balances of Securitization Programs

The table below presents our continuing involvement in certain securitization-related VIEs as of September 30, 2023 and December 31, 2022.

Table 5.2: Continuing Involvement in Securitization-Related VIEs


(Dollars in millions)	Credit Card		Auto
September 30, 2023:
Securities held by third-party investors	$	13,772	$	3,645
Receivables in the trusts	25,532		4,295
Cash balance of spread or reserve accounts	0		20
Retained interests	Yes		Yes
Servicing retained	Yes		Yes
December 31, 2022:
Securities held by third-party investors	$	12,976	$	3,997
Receivables in the trusts	24,367		4,682
Cash balance of spread or reserve accounts	0		23
Retained interests	Yes		Yes
Servicing retained	Yes		Yes

Earnings Per Common Share

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

Derivative Instruments and Hedging Activities - Gains Losses on Freestanding Derivatives (Details) - Other non-interest income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	$ 97	$ 14	$ 242	$ 64
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	23	38	67	79
Interest rate contracts \| Customer accommodation
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	7	11	26	31
Interest rate contracts \| Other interest rate exposures
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	81	0	199	14
Commodity contracts \| Customer accommodation
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	11	20	28	37
Foreign exchange contracts \| Customer accommodation
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	5	7	13	11
Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	$ (7)	$ (24)	$ (24)	$ (29)

Variable Interest Entities and Securitizations - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Variable Interest Entity [Line Items]
Amortization method qualified affordable housing investments, amortization	$ 522	$ 484
Affordable housing tax credits	652	$ 582
Amortization method qualified affordable housing investments	5,300		$ 4,900
Qualified affordable housing investments, commitment	2,200		1,800
Carrying Amount of Assets	471,435		455,249
VIE, reporting entity involvement, maximum loss exposure	6,017		5,281
Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	6,017		5,281
Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	31,854		31,045
Affordable housing entities
Variable Interest Entity [Line Items]
VIE, reporting entity involvement, maximum loss exposure	5,551		4,944
Affordable housing entities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	5,551		4,944
Total assets of the unconsolidated VIE investment funds	12,600		12,500
Affordable housing entities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	271		261
Entities that provide capital to low-income and rural communities
Variable Interest Entity [Line Items]
VIE, reporting entity involvement, maximum loss exposure	0		0
Entities that provide capital to low-income and rural communities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0		0
Entities that provide capital to low-income and rural communities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	2,509		2,301
Other
Variable Interest Entity [Line Items]
VIE, reporting entity involvement, maximum loss exposure	466		337
Other \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	466		337
Other \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	$ 0		$ 0

Fair Value Measurement - Nonrecurring Fair Value Measurements Included in Earnings (Details) - Nonrecurring - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	$ (315)	$ 24
Loans Held For Sale	0	0
Other assets	(52)	(33)
Total	$ (367)	$ (9)

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments - Charge-Offs (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 54
2022	589
2021	571
2020	268
2019	275
Prior	294
Total Term Loans	2,051
Revolving Loans	5,479
Revolving Loans Converted to Term	66
Total	7,596
Credit Card:
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	5,415
Revolving Loans Converted to Term	66
Total	5,481
Credit Card: \| Domestic Card
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	5,100
Revolving Loans Converted to Term	56
Total	5,156
Credit Card: \| International card businesses
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	315
Revolving Loans Converted to Term	10
Total	325
Consumer Banking:
Financing Receivable, Credit Quality Indicator [Line Items]
2023	52
2022	551
2021	524
2020	246
2019	141
Prior	90
Total Term Loans	1,604
Revolving Loans	49
Revolving Loans Converted to Term	0
Total	1,653
Consumer Banking: \| Auto
Financing Receivable, Credit Quality Indicator [Line Items]
2023	52
2022	551
2021	523
2020	246
2019	141
Prior	89
Total Term Loans	1,602
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	1,602
Consumer Banking: \| Retail banking
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	1
2020	0
2019	0
Prior	1
Total Term Loans	2
Revolving Loans	49
Revolving Loans Converted to Term	0
Total	51
Commercial Portfolio
Financing Receivable, Credit Quality Indicator [Line Items]
2023	2
2022	38
2021	47
2020	22
2019	134
Prior	204
Total Term Loans	447
Revolving Loans	15
Revolving Loans Converted to Term	0
Total	462
Commercial Portfolio \| Commercial and multifamily real estate
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	29
2021	47
2020	22
2019	105
Prior	201
Total Term Loans	404
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	404
Commercial Portfolio \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	2
2022	9
2021	0
2020	0
2019	29
Prior	3
Total Term Loans	43
Revolving Loans	15
Revolving Loans Converted to Term	0
Total	$ 58

Earnings Per Common Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]


NOTE 10—EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share.

Table 10.1: Computation of Basic and Diluted Earnings per Common Share


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars and shares in millions, except per share data)	2023		2022		2023		2022


Net income	$	1,790	$	1,694	$	4,181	$	6,128
Dividends and undistributed earnings allocated to participating securities	(28)		(21)		(67)		(74)
Preferred stock dividends	(57)		(57)		(171)		(171)

Net income available to common stockholders	$	1,705	$	1,616	$	3,943	$	5,883

Total weighted-average basic common shares outstanding	382.5		383.4		382.7		394.9
Effect of dilutive securities:(1)
Stock options	0.1		0.2		0.1		0.4
Other contingently issuable shares	0.7		1.0		0.8		1.1
Total effect of dilutive securities	0.8		1.2		0.9		1.5
Total weighted-average diluted common shares outstanding	383.3		384.6		383.6		396.4
Basic earnings per common share:


Net income per basic common share	$	4.46	$	4.21	$	10.31	$	14.90
Diluted earnings per common share:(1)


Net income per diluted common share	$	4.45	$	4.20	$	10.28	$	14.84

__________

Derivative Instruments and Hedging Activities - Effects of Fair Value and Cash Flow Hedge Accounting (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Interest and dividend income, securities	$ 627	$ 499	$ 1,881	$ 1,336
Interest and fee income, loans	9,696	7,578	27,476	20,550
Interest and dividend income, other	550	123	1,436	193
Deposits	(2,611)	(689)	(6,744)	(1,200)
Securitized debt obligations	(249)	(120)	(696)	(214)
Senior and subordinated notes	(579)	(319)	(1,596)	(644)
Non-interest income (loss)	256	192	730	634
Amortization expense (benefit)	(20)	(23)	(56)	(57)
Loss (net after-tax) recorded in AOCI related to derivatives designated as cash flow hedges expected to be reclassified to earnings over the next 12 months			$ 877
Maximum length of time over which forecasted transactions were hedged, years			9 years 6 months
Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses (gains) on foreign exchange contracts reclassified from AOCI	100	79	$ 70	98
Cash flow hedges \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	0	0	0
Cash flow hedges \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	(320)	(86)	(879)	104
Cash flow hedges \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	3	2	9	1
Cash flow hedges \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	0	0	0
Cash flow hedges \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	0	0	0
Cash flow hedges \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	0	0	0
Cash flow hedges \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	1	(1)	1	(1)
Cash flow hedges \| Interest rate contracts \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Interest rate contracts \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	(320)	(86)	(879)	104
Cash flow hedges \| Interest rate contracts \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Interest rate contracts \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Interest rate contracts \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Interest rate contracts \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Interest rate contracts \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	3	2	9	1
Cash flow hedges \| Foreign exchange contracts \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	1	(1)	1	(1)
Fair value hedges \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	21	3	56	(48)
Fair value hedges \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	0	0	0	0
Fair value hedges \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	0	0	0	0
Fair value hedges \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	(104)	4	(281)	47
Fair value hedges \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	(112)	(20)	(298)	12
Fair value hedges \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	(236)	(33)	(643)	94
Fair value hedges \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	0	0	0	(1)
Fair value hedges \| Interest rate contracts \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	42	22	113	22
Gains (losses) recognized on derivatives	(15)	83	(35)	294
Gains (losses) recognized on hedged items	(6)	(102)	(22)	(364)
Excluded component of fair value hedges	0	0	0	0
Fair value hedges \| Interest rate contracts \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	0	0	0	0
Gains (losses) recognized on derivatives	0	0	0	0
Gains (losses) recognized on hedged items	0	0	0	0
Excluded component of fair value hedges	0	0	0	0
Fair value hedges \| Interest rate contracts \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	0	0	0	0
Gains (losses) recognized on derivatives	0	0	0	0
Gains (losses) recognized on hedged items	0	0	0	0
Excluded component of fair value hedges	0	0	0	0
Fair value hedges \| Interest rate contracts \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	(104)	4	(278)	46
Gains (losses) recognized on derivatives	(38)	(381)	(84)	(569)
Gains (losses) recognized on hedged items	38	381	81	570
Excluded component of fair value hedges	0	0	0	0
Fair value hedges \| Interest rate contracts \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	(112)	(21)	(297)	12
Gains (losses) recognized on derivatives	4	(311)	(10)	(735)
Gains (losses) recognized on hedged items	(4)	312	9	735
Excluded component of fair value hedges	0	0	0	0
Fair value hedges \| Interest rate contracts \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	(275)	(71)	(754)	(20)
Gains (losses) recognized on derivatives	(273)	(807)	(275)	(2,039)
Gains (losses) recognized on hedged items	313	846	388	2,155
Excluded component of fair value hedges	(1)	(1)	(2)	(2)
Fair value hedges \| Interest rate contracts \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	0	0	0	0
Gains (losses) recognized on derivatives	(42)	(85)	(17)	(197)
Gains (losses) recognized on hedged items	42	85	17	196
Excluded component of fair value hedges	$ 0	$ 0	$ 0	$ 0

Stockholders' Equity - Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Before Tax
Net unrealized gains (losses) on securities available for sale	$ (2,780)	$ (3,882)	$ (2,684)	$ (11,181)
Net unrealized gains (losses) on hedging relationships	(342)	(1,065)	(372)	(3,292)
Foreign currency translation adjustments	(2)	33	8	47
Other	0	(1)	0	(1)
Other comprehensive income (loss), before tax	(3,124)	(4,915)	(3,048)	(14,427)
Provision (Benefit)
Net unrealized gains (losses) on securities available for sale	(672)	(947)	(650)	(2,705)
Net unrealized gains (losses) on hedging relationships	(83)	(261)	(90)	(796)
Foreign currency translation adjustments	37	81	0	152
Other	0	0	0	0
Other comprehensive income (loss), provision (benefit)	(718)	(1,127)	(740)	(3,349)
After Tax
Net unrealized gains (losses) on securities available for sale	(2,108)	(2,935)	(2,034)	(8,476)
Net unrealized gains (losses) on hedging relationships	(259)	(804)	(282)	(2,496)
Foreign currency translation adjustments	(39)	(48)	8	(105)
Other	0	(1)	0	(1)
Other comprehensive loss, net of tax	$ (2,406)	$ (3,788)	$ (2,308)	$ (11,078)

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance			$ (9,916)
Other comprehensive income (loss), net of tax	$ (2,406)	$ (3,788)	(2,308)	$ (11,078)
AOCI ending balance	(12,224)		(12,224)
Securities available for sale \| Available-for-sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	(7,602)	(5,244)	(7,676)	297
Other comprehensive income (loss) before reclassifications	(2,108)	(2,937)	(2,034)	(8,483)
Amounts reclassified from AOCI into earnings	0	2	0	7
Other comprehensive income (loss), net of tax	(2,108)	(2,935)	(2,034)	(8,476)
AOCI ending balance	(9,710)	(8,179)	(9,710)	(8,179)
Hedging Relationships
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	(2,205)	(1,574)	(2,182)	118
Other comprehensive income (loss) before reclassifications	(424)	(809)	(890)	(2,344)
Amounts reclassified from AOCI into earnings	165	5	608	(152)
Other comprehensive income (loss), net of tax	(259)	(804)	(282)	(2,496)
AOCI ending balance	(2,464)	(2,378)	(2,464)	(2,378)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	27	(78)	(20)	(21)
Other comprehensive income (loss) before reclassifications	(39)	(48)	8	(105)
Amounts reclassified from AOCI into earnings	0	0	0	0
Other comprehensive income (loss), net of tax	(39)	(48)	8	(105)
AOCI ending balance	(12)	(126)	(12)	(126)
Other
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	(38)	(20)	(38)	(20)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI into earnings	0	(1)	0	(1)
Other comprehensive income (loss), net of tax	0	(1)	0	(1)
AOCI ending balance	(38)	(21)	(38)	(21)
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	(9,818)	(6,916)	(9,916)	374
Other comprehensive income (loss) before reclassifications	(2,571)	(3,794)	(2,916)	(10,932)
Amounts reclassified from AOCI into earnings	165	6	608	(146)
Other comprehensive income (loss), net of tax	(2,406)	(3,788)	(2,308)	(11,078)
AOCI ending balance	(12,224)	(10,704)	(12,224)	(10,704)
Net investment hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive gain (loss)	$ 115	$ 255	$ (1)	$ 477

Label	Element	Value
SEC Schedule, 12-09, Allowance, Loan and Lease Loss [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$ (63,000,000)
SEC Schedule, 12-09, Allowance, Loan and Lease Loss [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	0
SEC Schedule, 12-09, Allowance, Loan and Lease Loss [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Credit Card Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	(63,000,000)
SEC Schedule, 12-09, Allowance, Loan and Lease Loss [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest	us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$ 0

Loans (Tables)

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Receivables [Abstract]

Loan Portfolio Composition and Aging Analysis

The table below presents the composition and aging analysis of our loans held for investment portfolio as of September 30, 2023 and December 31, 2022. The delinquency aging includes all past due loans, both performing and nonperforming. Table 3.1: Loan Portfolio Composition and Aging Analysis


	September 30, 2023
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	134,267	$	1,820	$	1,329	$	2,904	$	6,053	$	140,320
International card businesses	6,170		105		67		121		293		6,463
Total credit card	140,437		1,925		1,396		3,025		6,346		146,783
Consumer Banking:
Auto	70,665		2,961		1,409		421		4,791		75,456
Retail banking	1,357		15		3		13		31		1,388
Total consumer banking	72,022		2,976		1,412		434		4,822		76,844
Commercial Banking:
Commercial and multifamily real estate	35,324		126		37		135		298		35,622
Commercial and industrial	55,322		5		0		204		209		55,531
Total commercial banking	90,646		131		37		339		507		91,153
Total loans(1)	$	303,105	$	5,032	$	2,845	$	3,798	$	11,675	$	314,780
% of Total loans	96.29%		1.60%		0.90%		1.21%		3.71%		100.00%


	December 31, 2022
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	127,066	$	1,405	$	975	$	2,135	$	4,515	$	131,581
International card businesses	5,895		86		58		110		254		6,149
Total credit card	132,961		1,491		1,033		2,245		4,769		137,730
Consumer Banking:
Auto	73,467		3,101		1,418		387		4,906		78,373
Retail banking	1,518		13		4		17		34		1,552
Total consumer banking	74,985		3,114		1,422		404		4,940		79,925


	December 31, 2022
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Commercial Banking:
Commercial and multifamily real estate	37,417		0		1		35		36		37,453
Commercial and industrial	56,942		61		55		165		281		57,223
Total commercial banking	94,359		61		56		200		317		94,676
Total loans(1)	$	302,305	$	4,666	$	2,511	$	2,849	$	10,026	$	312,331
% of Total loans	96.79%		1.50%		0.80%		0.91%		3.21%		100.00%

__________(1)Loans include unamortized premiums, discounts, and deferred fees and costs totaling $1.4 billion as of both September 30, 2023 and December 31, 2022

90 Plus Day Delinquent Loans Accruing Interest and Nonperforming Loans

Table 3.2: 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans


	September 30, 2023									December 31, 2022
(Dollars in millions)	> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance			> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance
Credit Card:
Domestic credit card	$	2,904		N/A			$	0		$	2,135		N/A			$	0
International card businesses	115			$	9		0			105			$	9		0
Total credit card	3,019			9			0			2,240			9			0
Consumer Banking:
Auto	0			639			0			0			595			0
Retail banking	0			45			23			0			39			8
Total consumer banking	0			684			23			0			634			8
Commercial Banking:
Commercial and multifamily real estate	0			459			312			0			271			246
Commercial and industrial	13			363			199			0			430			294
Total commercial banking	13			822			511			0			701			540
Total	$	3,032		$	1,515		$	534		$	2,240		$	1,344		$	548
% of Total loans held for investment	0.96		%	0.48		%	0.17		%	0.72		%	0.43		%	0.18		%

__________

Credit Quality Indicator

The table below presents our credit card portfolio by delinquency status as of September 30, 2023 and December 31, 2022.

Table 3.3: Credit Card Delinquency Status


	September 30, 2023						December 31, 2022
(Dollars in millions)	Revolving Loans		Revolving Loans Converted to Term		Total		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card:
Domestic credit card:
Current	$	133,953	$	314	$	134,267	$	126,811	$	255	$	127,066
30-59 days	1,796		24		1,820		1,388		17		1,405
60-89 days	1,312		17		1,329		964		11		975
Greater than 90 days	2,879		25		2,904		2,121		14		2,135
Total domestic credit card	139,940		380		140,320		131,284		297		131,581

International card businesses:
Current	6,140		30		6,170		5,866		29		5,895
30-59 days	101		4		105		83		3		86
60-89 days	64		3		67		55		3		58
Greater than 90 days	117		4		121		106		4		110
Total international card businesses	6,422		41		6,463		6,110		39		6,149
Total credit card	$	146,362	$	421	$	146,783	$	137,394	$	336	$	137,730

Table 3.4: Consumer Banking Portfolio by Vintage Year


	September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	9,809	$	13,757	$	10,562	$	3,608	$	1,499	$	471	$	39,706	$	0	$	0	$	39,706
621-660	3,891		4,840		3,724		1,535		713		277		14,980		0		0		14,980
620 or below	5,359		6,053		4,775		2,682		1,345		556		20,770		0		0		20,770
Total auto	19,059		24,650		19,061		7,825		3,557		1,304		75,456		0		0		75,456

Retail banking—Delinquency status:
Current	73		153		78		69		121		497		991		361		5		1,357
30-59 days	0		0		0		0		0		3		3		12		0		15
60-89 days	0		0		0		0		0		1		1		2		0		3
Greater than 90 days	0		0		0		0		0		8		8		4		1		13
Total retail banking	73		153		78		69		121		509		1,003		379		6		1,388
Total consumer banking	$	19,132	$	24,803	$	19,139	$	7,894	$	3,678	$	1,813	$	76,459	$	379	$	6	$	76,844


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	17,872	$	14,246	$	5,354	$	2,595	$	1,032	$	328	$	41,427	$	0	$	0	$	41,427
621-660	6,212		5,060		2,257		1,167		513		185		15,394		0		0		15,394
620 or below	7,717		6,501		3,898		2,144		914		378		21,552		0		0		21,552
Total auto	31,801		25,807		11,509		5,906		2,459		891		78,373		0		0		78,373

Retail banking—Delinquency status:
Current	166		128		82		133		127		470		1,106		408		4		1,518
30-59 days	2		1		0		0		0		2		5		8		0		13
60-89 days	0		1		0		0		0		1		2		2		0		4
Greater than 90 days	0		0		0		0		3		8		11		4		2		17
Total retail banking	168		130		82		133		130		481		1,124		422		6		1,552
Total consumer banking	$	31,969	$	25,937	$	11,591	$	6,039	$	2,589	$	1,372	$	79,497	$	422	$	6	$	79,925

__________

Table 3.5: Commercial Banking Portfolio by Internal Risk Ratings


	September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	2,919	$	4,848	$	3,092	$	1,247	$	2,421	$	3,796	$	18,323	$	13,215	$	25	$	31,563
Criticized performing	230		1,217		560		258		419		901		3,585		15		0		3,600
Criticized nonperforming	0		0		46		0		127		286		459		0		0		459
Total commercial and multifamily real estate	3,149		6,065		3,698		1,505		2,967		4,983		22,367		13,230		25		35,622
Commercial and industrial
Noncriticized	4,704		12,196		7,329		3,796		2,595		5,319		35,939		15,352		114		51,405
Criticized performing	242		815		575		270		344		457		2,703		1,060		0		3,763
Criticized nonperforming	0		25		22		25		154		81		307		56		0		363
Total commercial and industrial	4,946		13,036		7,926		4,091		3,093		5,857		38,949		16,468		114		55,531
Total commercial banking	$	8,095	$	19,101	$	11,624	$	5,596	$	6,060	$	10,840	$	61,316	$	29,698	$	139	$	91,153


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	5,860	$	4,807	$	1,676	$	2,879	$	1,927	$	3,474	$	20,623	$	13,254	$	25	$	33,902
Criticized performing	359		487		212		535		378		1,196		3,167		113		0		3,280
Criticized nonperforming	1		22		0		94		19		135		271		0		0		271
Total commercial and multifamily real estate	6,220		5,316		1,888		3,508		2,324		4,805		24,061		13,367		25		37,453
Commercial and industrial
Noncriticized	13,485		7,993		4,466		3,420		1,797		5,349		36,510		17,187		21		53,718
Criticized performing	482		686		216		336		228		163		2,111		964		0		3,075
Criticized nonperforming	30		29		0		156		82		57		354		76		0		430
Total commercial and industrial	13,997		8,708		4,682		3,912		2,107		5,569		38,975		18,227		21		57,223
Total commercial banking	$	20,217	$	14,024	$	6,570	$	7,420	$	4,431	$	10,374	$	63,036	$	31,594	$	46	$	94,676

__________

(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

The table below presents gross charge-offs for loans held for investment by vintage year during the nine months ended September 30, 2023.

Table 4.2: Gross Charge-Offs by Vintage Year


	Nine Months Ended September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card
Domestic credit card	N/A		N/A		N/A		N/A		N/A		N/A		N/A		$	5,100	$	56	$	5,156
International card business	N/A		N/A		N/A		N/A		N/A		N/A		N/A		315		10		325
Total credit card	N/A		N/A		N/A		N/A		N/A		N/A		N/A		5,415		66		5,481
Consumer Banking
Auto	$	52	$	551	$	523	$	246	$	141	$	89	$	1,602	0		0		1,602
Retail banking	0		0		1		0		0		1		2		49		0		51
Total consumer banking	52		551		524		246		141		90		1,604		49		0		1,653
Commercial Banking
Commercial and multifamily real estate	0		29		47		22		105		201		404		0		0		404
Commercial and industrial	2		9		0		0		29		3		43		15		0		58
Total commercial banking	2		38		47		22		134		204		447		15		0		462
Total	$	54	$	589	$	571	$	268	$	275	$	294	$	2,051	$	5,479	$	66	$	7,596

TDR Disclosures

Table 3.6: Financial Difficulty Modifications to Borrowers


	Three Months Ended September 30, 2023
	Credit Card									Consumer Banking									Commercial Banking
(Dollars in millions)	Domestic Card			International Card Businesses			Total Credit Card			Auto			Retail Banking			Total Consumer Banking			Commercial and Multifamily Real Estate			Commercial and Industrial			Total Commercial Banking			Total
Interest rate reduction	$	200		$	42		$	242		—			—			—			—			—			—			$	242
Term extension	—			—			—			$	14		$	2		$	16		$	128		$	147		$	275		291
Principal balance reduction	—			—			—			8			—			8			—			—			—			8

Interest rate reduction and term extension	7			—			7			248			—			248			—			26			26			281
Other(1)	—			—			—			2			7			9			—			56			56			65
Total loans modified	$	207		$	42		$	249		$	272		$	9		$	281		$	128		$	229		$	357		$	887
% of total class of receivables	0.15		%	0.65		%	0.17		%	0.36		%	0.62		%	0.36		%	0.36		%	0.41		%	0.39		%	0.28		%


	Nine Months Ended September 30, 2023
	Credit Card									Consumer Banking									Commercial Banking
(Dollars in millions)	Domestic Card			International Card Businesses			Total Credit Card			Auto			Retail Banking			Total Consumer Banking			Commercial and Multifamily Real Estate			Commercial and Industrial			Total Commercial Banking			Total
Interest rate reduction	$	437		$	76		$	513		—			—			—			—			—			—			$	513
Term extension	—			—			—			$	76		$	3		$	79		$	327		$	347		$	674		753
Principal balance reduction	—			—			—			17			—			17			—			—			—			17
Principal balance reduction and term extension	—			—			—			—			—			—			—			15			15			15
Interest rate reduction and term extension	10			—			10			504			—			504			—			26			26			540

Other(1)	—			—			—			3			7			10			54			151			205			215
Total loans modified	$	447		$	76		$	523		$	600		$	10		$	610		$	381		$	539		$	920		$	2,053
% of total class of receivables	0.32		%	1.17		%	0.36		%	0.79		%	0.75		%	0.79		%	1.07		%	0.97		%	1.01		%	0.65		%

__________

(1)Consumer Banking and Commercial Banking consists of modifications other than interest rate reduction, term extension, or principal balance reduction.

Table 3.7: Financial Effects of Financial Difficulty Modifications to Borrowers


	Three Months Ended September 30, 2023
	Credit Card		Consumer Banking		Commercial Banking
(Dollars in millions)	Domestic Card	International Card Businesses		Auto	Retail Banking	Commercial and Multifamily Real Estate	Commercial and Industrial
Weighted-average interest rate reduction	19.40%	27.41%		8.67%	—	—	0.25%
Payment delay duration (in months)	12	0		6	8	11	17
Principal balance reduction	—	—		—	—	—	—


	Nine Months Ended September 30, 2023
	Credit Card		Consumer Banking				Commercial Banking
(Dollars in millions)	Domestic Card	International Card Businesses		Auto		Retail Banking		Commercial and Multifamily Real Estate		Commercial and Industrial
Weighted-average interest rate reduction	19.19%	27.08%		8.74%		2.00%		—		0.25%
Payment delay duration (in months)	12	0		6		13		15		9
Principal balance reduction	—	—		$	1	—		$	20	$	3

The following table presents FDMs over a rolling 12 month period by delinquency status as of September 30, 2023.

Table 3.8 Delinquency Status of Loan Modifications to Borrowers Experiencing Financial Difficulty(1)


	September 30, 2023
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	283	$	65	$	40	$	59	$	164	$	447
International card businesses	35		8		8		25		41		76
Total credit card	318		73		48		84		205		523
Consumer Banking:
Auto	457		79		46		18		143		600
Retail banking	10		0		0		0		0		10
Total consumer banking	467		79		46		18		143		610
Commercial Banking:
Commercial and multifamily real estate	318		0		0		63		63		381
Commercial and industrial	417		4		0		118		122		539
Total commercial banking	735		4		0		181		185		920
Total	$	1,520	$	156	$	94	$	283	$	533	$	2,053

__________

(1)Commitments to lend additional funds on FDMs totaled $75 million as of September 30, 2023.

The following tables present the major modification types, amortized cost amounts and financial effects of loans modified in a TDR during the three and nine months ended September 30, 2022.

Table 3.10: Troubled Debt Restructurings(1)


			Three Months Ended September 30, 2022
			Reduced Interest Rate		Term Extension
(Dollars in millions)	Total Loans Modified(2)		% of TDR Activity(3)	Average Rate Reduction	% of TDR Activity(3)	Average Term Extension (Months)
Credit Card:
Domestic credit card	$	77	100%	16.79%	N/A	N/A
International card businesses	29		100	27.52	N/A	N/A
Total credit card	106		100	19.77	N/A	N/A
Consumer Banking:
Auto	275		64	8.45	97%	5
Retail banking	1		N/A	N/A	60	14
Total consumer banking	276		64	8.45	97	5
Commercial Banking:
Commercial and multifamily real estate	38		58	0.78	100	11
Commercial and industrial	75		N/A	N/A	98	17
Total commercial banking	113		20	0.78	99	15
Total	$	495


			Nine Months Ended September 30, 2022
			Reduced Interest Rate		Term Extension
(Dollars in millions)	Total Loans Modified(2)		% of TDR Activity(3)	Average Rate Reduction	% of TDR Activity(3)	Average Term Extension (Months)
Credit Card:
Domestic credit card	$	196	100%	15.76%	N/A	N/A
International card businesses	93		100	27.73	N/A	N/A
Total credit card	289		100	19.63	N/A	N/A
Consumer Banking:
Auto	794		56	8.59	97%	4
Retail banking	2		N/A	N/A	76	13
Total consumer banking	796		56	8.59	97	4
Commercial Banking:
Commercial and multifamily real estate	302		10	0.35	80	13
Commercial and industrial	242		N/A	N/A	62	14
Total commercial banking	544		6	0.35	72	13
Total	$	1,629

__________

(1)Commitments to lend additional funds on loans modified in TDRs totaled $214 million as of September 30, 2022.

(3)Due to multiple modification types granted to some troubled borrowers, percentages may total more than 100% for certain loan types.

Table 3.11: TDR—Subsequent Defaults



	Three Months Ended September 30, 2022			Nine Months Ended September 30, 2022
(Dollars in millions)	Number of Contracts	Amount		Number of Contracts	Amount
Credit Card:
Domestic credit card	9,927	$	19	23,951	$	47
International card businesses	18,971	19		55,089	58
Total credit card	28,898	38		79,040	105
Consumer Banking:
Auto	4,592	82		10,102	178
Retail banking	0	0		0	0
Total consumer banking	4,592	82		10,102	178
Commercial Banking:

Commercial and industrial	0	0		3	35
Total commercial banking	0	0		3	35
Total	33,490	$	120	89,145	$	318

Schedule of Debtor Troubled Debt Restructuring, Subsequent Periods

Table 3.9 Subsequent Defaults of Financial Difficulty Modifications to Borrowers


	Three Months Ended September 30, 2023
(Dollars in millions)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total Loans
Credit Card:
Domestic credit card	$	17	$	0	$	0	$	17
International card businesses	6		0		0		6
Total credit card	23		0		0		23
Consumer Banking:
Auto	0		7		77		84

Total consumer banking	0		7		77		84
Commercial Banking:
Commercial and multifamily real estate	0		46		0		46
Commercial and industrial	0		51		0		51
Total commercial banking	0		97		0		97
Total	$	23	$	104	$	77	$	204


	Nine Months Ended September 30, 2023
(Dollars in millions)	Interest Rate Reduction		Term Extension		Interest Rate Reduction and Term Extension		Total Loans
Credit Card:
Domestic credit card	$	39	$	0	$	0	$	39
International card businesses	9		0		0		9
Total credit card	48		0		0		48
Consumer Banking:
Auto	0		9		129		138

Total consumer banking	0		9		129		138
Commercial Banking:
Commercial and multifamily real estate	0		46		0		46
Commercial and industrial	0		51		0		51
Total commercial banking	0		97		0		97
Total	$	48	$	106	$	129	$	283

Loans - 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	$ 3,032		$ 3,032		$ 2,240
Nonperforming Loans	1,515		1,515		1,344
Nonperforming Loans Without an Allowance	$ 534		$ 534		$ 548
Percentage, 90 Days Past Due and Accruing	0.96%		0.96%		0.72%
Percentage, Nonperforming Loans	0.48%		0.48%		0.43%
Percentage, Nonperforming Loans Without an Allowance	0.17%		0.17%		0.18%
Interest income for loans classified as nonperforming	$ 11	$ 2	$ 47	$ 29
Credit Card:
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	3,019		3,019		$ 2,240
Nonperforming Loans	9		9		9
Nonperforming Loans Without an Allowance	0		0		0
Credit Card: \| Domestic credit card:
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	2,904		2,904		2,135
Nonperforming Loans Without an Allowance	0		0		0
Credit Card: \| International card businesses:
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	115		115		105
Nonperforming Loans	9		9		9
Nonperforming Loans Without an Allowance	0		0		0
Consumer Banking:
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0		0		0
Nonperforming Loans	684		684		634
Nonperforming Loans Without an Allowance	23		23		8
Consumer Banking: \| Auto
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0		0		0
Nonperforming Loans	639		639		595
Nonperforming Loans Without an Allowance	0		0		0
Consumer Banking: \| Retail banking
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0		0		0
Nonperforming Loans	45		45		39
Nonperforming Loans Without an Allowance	23		23		8
Commercial Portfolio
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	13		13		0
Nonperforming Loans	822		822		701
Nonperforming Loans Without an Allowance	511		511		540
Commercial Portfolio \| Commercial and multifamily real estate
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0		0		0
Nonperforming Loans	459		459		271
Nonperforming Loans Without an Allowance	312		312		246
Commercial Portfolio \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	13		13		0
Nonperforming Loans	363		363		430
Nonperforming Loans Without an Allowance	$ 199		$ 199		$ 294

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments (Tables)

9 Months Ended

Sep. 30, 2023

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Allowance for Credit Losses on Financing Receivables

Table 4.1: Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity


	Three Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of June 30, 2023	$	10,976	$	2,185	$	1,485	$	14,646
Charge-offs	(1,925)		(596)		(60)		(2,581)
Recoveries(1)	333		247		2		582
Net charge-offs	(1,592)		(349)		(58)		(1,999)
Provision for credit losses	1,953		213		155		2,321
Allowance build (release) for credit losses	361		(136)		97		322
Other changes(2)	(13)		0		0		(13)
Balance as of September 30, 2023	11,324		2,049		1,582		14,955
Reserve for unfunded lending commitments:
Balance as of June 30, 2023	0		0		197		197
Provision (benefit) for losses on unfunded lending commitments	0		0		(39)		(39)
Balance as of September 30, 2023	0		0		158		158
Combined allowance and reserve as of September 30, 2023	$	11,324	$	2,049	$	1,740	$	15,113


	Nine Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of December 31, 2022	$	9,545	$	2,237	$	1,458	$	13,240
Cumulative effects of accounting standards adoption(3)	(63)		0		0		(63)
Balance as of January 1, 2023	9,482		2,237		1,458		13,177
Charge-offs	(5,481)		(1,653)		(462)		(7,596)
Recoveries(1)	992		718		5		1,715
Net charge-offs	(4,489)		(935)		(457)		(5,881)
Provision for credit losses	6,298		747		581		7,626
Allowance build (release) for credit losses	1,809		(188)		124		1,745
Other changes(2)	33		0		0		33
Balance as of September 30, 2023	11,324		2,049		1,582		14,955
Reserve for unfunded lending commitments:
Balance as of December 31, 2022	0		0		218		218
Provision (benefit) for losses on unfunded lending commitments	0		0		(60)		(60)
Balance as of September 30, 2023	0		0		158		158
Combined allowance and reserve as of September 30, 2023	$	11,324	$	2,049	$	1,740	$	15,113


	Three Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of June 30, 2022	$	8,166	$	2,047	$	1,278	$	11,491
Charge-offs	(1,047)		(410)		(13)		(1,470)
Recoveries(1)	352		186		1		539
Net charge-offs	(695)		(224)		(12)		(931)
Provision for credit losses	1,261		285		119		1,665
Allowance build for credit losses	566		61		107		734
Other changes(2)	(16)		0		0		(16)
Balance as of September 30, 2022	8,716		2,108		1,385		12,209
Reserve for unfunded lending commitments:
Balance as of June 30, 2022	0		0		239		239
Provision for losses on unfunded lending commitments	0		0		4		4
Balance as of September 30, 2022	0		0		243		243
Combined allowance and reserve as of September 30, 2022	$	8,716	$	2,108	$	1,628	$	12,452


	Nine Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of December 31, 2021	$	8,345	$	1,918	$	1,167	$	11,430
Charge-offs	(3,011)		(1,090)		(73)		(4,174)
Recoveries(1)	1,031		584		16		1,631
Net charge-offs	(1,980)		(506)		(57)		(2,543)
Provision for credit losses	2,387		696		275		3,358
Allowance build for credit losses	407		190		218		815
Other changes(2)	(36)		0		0		(36)
Balance as of September 30, 2022	8,716		2,108		1,385		12,209
Reserve for unfunded lending commitments:
Balance as of December 31, 2021	0		0		165		165
Provision for losses on unfunded lending commitments	0		0		78		78
Balance as of September 30, 2022	0		0		243		243
Combined allowance and reserve as of September 30, 2022	$	8,716	$	2,108	$	1,628	$	12,452

__________

(3)Impact from the adoption of ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures as of January 1, 2023.

Credit Quality Indicator

The table below presents our credit card portfolio by delinquency status as of September 30, 2023 and December 31, 2022.

Table 3.3: Credit Card Delinquency Status


	September 30, 2023						December 31, 2022
(Dollars in millions)	Revolving Loans		Revolving Loans Converted to Term		Total		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card:
Domestic credit card:
Current	$	133,953	$	314	$	134,267	$	126,811	$	255	$	127,066
30-59 days	1,796		24		1,820		1,388		17		1,405
60-89 days	1,312		17		1,329		964		11		975
Greater than 90 days	2,879		25		2,904		2,121		14		2,135
Total domestic credit card	139,940		380		140,320		131,284		297		131,581

International card businesses:
Current	6,140		30		6,170		5,866		29		5,895
30-59 days	101		4		105		83		3		86
60-89 days	64		3		67		55		3		58
Greater than 90 days	117		4		121		106		4		110
Total international card businesses	6,422		41		6,463		6,110		39		6,149
Total credit card	$	146,362	$	421	$	146,783	$	137,394	$	336	$	137,730

Table 3.4: Consumer Banking Portfolio by Vintage Year


	September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	9,809	$	13,757	$	10,562	$	3,608	$	1,499	$	471	$	39,706	$	0	$	0	$	39,706
621-660	3,891		4,840		3,724		1,535		713		277		14,980		0		0		14,980
620 or below	5,359		6,053		4,775		2,682		1,345		556		20,770		0		0		20,770
Total auto	19,059		24,650		19,061		7,825		3,557		1,304		75,456		0		0		75,456

Retail banking—Delinquency status:
Current	73		153		78		69		121		497		991		361		5		1,357
30-59 days	0		0		0		0		0		3		3		12		0		15
60-89 days	0		0		0		0		0		1		1		2		0		3
Greater than 90 days	0		0		0		0		0		8		8		4		1		13
Total retail banking	73		153		78		69		121		509		1,003		379		6		1,388
Total consumer banking	$	19,132	$	24,803	$	19,139	$	7,894	$	3,678	$	1,813	$	76,459	$	379	$	6	$	76,844


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	17,872	$	14,246	$	5,354	$	2,595	$	1,032	$	328	$	41,427	$	0	$	0	$	41,427
621-660	6,212		5,060		2,257		1,167		513		185		15,394		0		0		15,394
620 or below	7,717		6,501		3,898		2,144		914		378		21,552		0		0		21,552
Total auto	31,801		25,807		11,509		5,906		2,459		891		78,373		0		0		78,373

Retail banking—Delinquency status:
Current	166		128		82		133		127		470		1,106		408		4		1,518
30-59 days	2		1		0		0		0		2		5		8		0		13
60-89 days	0		1		0		0		0		1		2		2		0		4
Greater than 90 days	0		0		0		0		3		8		11		4		2		17
Total retail banking	168		130		82		133		130		481		1,124		422		6		1,552
Total consumer banking	$	31,969	$	25,937	$	11,591	$	6,039	$	2,589	$	1,372	$	79,497	$	422	$	6	$	79,925

__________

Table 3.5: Commercial Banking Portfolio by Internal Risk Ratings


	September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	2,919	$	4,848	$	3,092	$	1,247	$	2,421	$	3,796	$	18,323	$	13,215	$	25	$	31,563
Criticized performing	230		1,217		560		258		419		901		3,585		15		0		3,600
Criticized nonperforming	0		0		46		0		127		286		459		0		0		459
Total commercial and multifamily real estate	3,149		6,065		3,698		1,505		2,967		4,983		22,367		13,230		25		35,622
Commercial and industrial
Noncriticized	4,704		12,196		7,329		3,796		2,595		5,319		35,939		15,352		114		51,405
Criticized performing	242		815		575		270		344		457		2,703		1,060		0		3,763
Criticized nonperforming	0		25		22		25		154		81		307		56		0		363
Total commercial and industrial	4,946		13,036		7,926		4,091		3,093		5,857		38,949		16,468		114		55,531
Total commercial banking	$	8,095	$	19,101	$	11,624	$	5,596	$	6,060	$	10,840	$	61,316	$	29,698	$	139	$	91,153


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	5,860	$	4,807	$	1,676	$	2,879	$	1,927	$	3,474	$	20,623	$	13,254	$	25	$	33,902
Criticized performing	359		487		212		535		378		1,196		3,167		113		0		3,280
Criticized nonperforming	1		22		0		94		19		135		271		0		0		271
Total commercial and multifamily real estate	6,220		5,316		1,888		3,508		2,324		4,805		24,061		13,367		25		37,453
Commercial and industrial
Noncriticized	13,485		7,993		4,466		3,420		1,797		5,349		36,510		17,187		21		53,718
Criticized performing	482		686		216		336		228		163		2,111		964		0		3,075
Criticized nonperforming	30		29		0		156		82		57		354		76		0		430
Total commercial and industrial	13,997		8,708		4,682		3,912		2,107		5,569		38,975		18,227		21		57,223
Total commercial banking	$	20,217	$	14,024	$	6,570	$	7,420	$	4,431	$	10,374	$	63,036	$	31,594	$	46	$	94,676

__________

(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

The table below presents gross charge-offs for loans held for investment by vintage year during the nine months ended September 30, 2023.

Table 4.2: Gross Charge-Offs by Vintage Year


	Nine Months Ended September 30, 2023
	Term Loans by Vintage Year
(Dollars in millions)	2023		2022		2021		2020		2019		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card
Domestic credit card	N/A		N/A		N/A		N/A		N/A		N/A		N/A		$	5,100	$	56	$	5,156
International card business	N/A		N/A		N/A		N/A		N/A		N/A		N/A		315		10		325
Total credit card	N/A		N/A		N/A		N/A		N/A		N/A		N/A		5,415		66		5,481
Consumer Banking
Auto	$	52	$	551	$	523	$	246	$	141	$	89	$	1,602	0		0		1,602
Retail banking	0		0		1		0		0		1		2		49		0		51
Total consumer banking	52		551		524		246		141		90		1,604		49		0		1,653
Commercial Banking
Commercial and multifamily real estate	0		29		47		22		105		201		404		0		0		404
Commercial and industrial	2		9		0		0		29		3		43		15		0		58
Total commercial banking	2		38		47		22		134		204		447		15		0		462
Total	$	54	$	589	$	571	$	268	$	275	$	294	$	2,051	$	5,479	$	66	$	7,596

Schedule of Loss Sharing Arrangement Impact

The table below summarizes the changes in the estimated reimbursements from these partners for the three and nine months ended September 30, 2023 and 2022.

Table 4.3: Summary of Credit Card Partnership Loss Sharing Arrangements Impacts


	Three Months Ended September 30,
(Dollars in millions)	2023		2022
Estimated reimbursements from partners, beginning of period	$	1,908	$	1,302
Amounts due from partners for charged off loans	(249)		(127)
Change in estimated partner reimbursements that decreased provision for credit losses	319		237
Estimated reimbursements from partners, end of period	$	1,978	$	1,412


	Nine Months Ended September 30,
(Dollars in millions)	2023		2022
Estimated reimbursements from partners, beginning of period	$	1,558	$	1,450
Amounts due from partners for charged off loans	(681)		(353)
Change in estimated partner reimbursements that decreased provision for credit losses(1)	1,101		315
Estimated reimbursements from partners, end of period	$	1,978	$	1,412

__________

(1)Includes adjustments for purchased credit-deteriorated (“PCD”) loans acquired in the first quarter of 2023.

Loans - TDR - Subsequent Defaults (Details) $ in Millions	3 Months Ended	9 Months Ended
Loans - TDR - Subsequent Defaults (Details) $ in Millions	Sep. 30, 2022 USD ($) contract	Sep. 30, 2022 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	33,490	89,145
Total Loans \| $	$ 120	$ 318
Credit Card:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	28,898	79,040
Total Loans \| $	$ 38	$ 105
Consumer Banking:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	4,592	10,102
Total Loans \| $	$ 82	$ 178
Consumer Banking: \| Auto
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	4,592	10,102
Total Loans \| $	$ 82	$ 178
Consumer Banking: \| Retail banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	0	0
Total Loans \| $	$ 0	$ 0
Commercial Portfolio
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	0	3
Total Loans \| $	$ 0	$ 35
Commercial Portfolio \| Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	0	3
Total Loans \| $	$ 0	$ 35
Domestic credit card: \| Credit Card:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	9,927	23,951
Total Loans \| $	$ 19	$ 47
International card businesses: \| Credit Card:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	18,971	55,089
Total Loans \| $	$ 19	$ 58

Business Segments and Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2023

Sep. 30, 2021

Segment Reporting [Abstract]

Schedule of Segment Results and Reconciliation

The following table presents our business segment results for the three and nine months ended September 30, 2023 and 2022, selected balance sheet data as of September 30, 2023 and 2022, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.

Table 12.1: Segment Results and Reconciliation



	Three Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	5,114	$	2,133	$	621	$	(445)	$	7,423
Non-interest income	1,513		142		288		0		1,943
Total net revenue (loss)(2)	6,627		2,275		909		(445)		9,366
Provision for credit losses	1,953		213		116		2		2,284
Non-interest expense	3,015		1,262		512		71		4,860
Income (loss) from continuing operations before income taxes	1,659		800		281		(518)		2,222
Income tax provision (benefit)	393		189		67		(217)		432
Income (loss) from continuing operations, net of tax	$	1,266	$	611	$	214	$	(301)	$	1,790
Loans held for investment	$	146,783	$	76,844	$	91,153	$	0	$	314,780
Deposits	0		290,789		36,035		19,187		346,011


	Nine Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	14,498	$	6,762	$	1,901	$	(1,439)	$	21,722
Non-interest income	4,375		426		757		1		5,559
Total net revenue (loss)(2)	18,873		7,188		2,658		(1,438)		27,281
Provision for credit losses	6,298		747		521		3		7,569
Non-interest expense	9,073		3,776		1,524		226		14,599
Income (loss) from continuing operations before income taxes	3,502		2,665		613		(1,667)		5,113
Income tax provision (benefit)	830		629		145		(672)		932
Income (loss) from continuing operations, net of tax	$	2,672	$	2,036	$	468	$	(995)	$	4,181
Loans held for investment	$	146,783	$	76,844	$	91,153	$	0	$	314,780
Deposits	0		290,789		36,035		19,187		346,011



	Three Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	4,313	$	2,311	$	699	$	(320)	$	7,003
Non-interest income (loss)	1,454		129		319		(100)		1,802
Total net revenue (loss)(2)	5,767		2,440		1,018		(420)		8,805
Provision (benefit) for credit losses	1,261		285		123		0		1,669
Non-interest expense	3,004		1,340		542		63		4,949
Income (loss) from continuing operations before income taxes	1,502		815		353		(483)		2,187
Income tax provision (benefit)	356		193		83		(139)		493
Income (loss) from continuing operations, net of tax	$	1,146	$	622	$	270	$	(344)	$	1,694
Loans held for investment	$	126,913	$	81,199	$	95,831	$	0	$	303,943
Deposits	0		256,661		41,058		19,474		317,193


	Nine Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	12,051	$	6,571	$	1,941	$	(646)	$	19,917
Non-interest income (loss)	4,322		330		868		(227)		5,293
Total net revenue (loss)(2)	16,373		6,901		2,809		(873)		25,210
Provision (benefit) for credit losses	2,387		696		353		(5)		3,431
Non-interest expense	8,558		3,862		1,515		148		14,083
Income (loss) from continuing operations before income taxes	5,428		2,343		941		(1,016)		7,696
Income tax provision (benefit)	1,291		555		223		(501)		1,568
Income (loss) from continuing operations, net of tax	$	4,137	$	1,788	$	718	$	(515)	$	6,128
Loans held for investment	$	126,913	$	81,199	$	95,831	$	0	$	303,943
Deposits	0		256,661		41,058		19,474		317,193

_________

Disaggregation of Revenue

The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the three and nine months ended September 30, 2023 and 2022.

Table 12.2: Revenue from Contracts with Customers and Reconciliation to Segment Results



	Three Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	1,115	$	92	$	27	$	0	$	1,234
Service charges and other customer-related fees	0		21		78		0		99
Other	111		28		3		0		142
Total contract revenue	1,226		141		108		0		1,475
Revenue from other sources	287		1		180		0		468
Total non-interest income	$	1,513	$	142	$	288	$	0	$	1,943


	Nine Months Ended September 30, 2023
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	3,251	$	270	$	64	$	1	$	3,586
Service charges and other customer-related fees	0		64		173		(1)		236
Other	257		74		16		0		347
Total contract revenue	3,508		408		253		0		4,169
Revenue from other sources	867		18		504		1		1,390
Total non-interest income	$	4,375	$	426	$	757	$	1	$	5,559



	Three Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	1,085	$	83	$	27	$	0	$	1,195
Service charges and other customer-related fees	0		23		62		0		85
Other	104		18		13		0		135
Total contract revenue	1,189		124		102		0		1,415
Revenue (reduction) from other sources	265		5		217		(100)		387
Total non-interest income (loss)	$	1,454	$	129	$	319	$	(100)	$	1,802


	Nine Months Ended September 30, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	3,115	$	234	$	79	$	1	$	3,429
Service charges and other customer-related fees	0		70		190		(1)		259
Other	297		56		14		0		367
Total contract revenue	3,412		360		283		0		4,055
Revenue (reduction) from other sources	910		(30)		585		(227)		1,238
Total non-interest income (loss)	$	4,322	$	330	$	868	$	(227)	$	5,293

__________

(2)Interchange fees are presented net of customer reward expenses

Variable Interest Entities and Securitizations - Carrying Amount of Consolidated and Unconsolidated VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	$ 6,017	$ 5,281
Carrying Amount of Assets	471,435	455,249
Carrying Amount of Liabilities	417,767	402,667
Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	31,854	31,045
Carrying Amount of Liabilities	18,355	17,908
Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	6,017	5,281
Carrying Amount of Liabilities	2,049	1,596
Affordable housing entities
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	5,551	4,944
VIE, nonconsolidated, carrying amount of assets included in certain investment structures	2,500	2,300
VIE, nonconsolidated, carrying amount of liabilities included in certain investment structures	931	616
Affordable housing entities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	271	261
Carrying Amount of Liabilities	5	19
Affordable housing entities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	5,551	4,944
Carrying Amount of Liabilities	2,049	1,596
Entities that provide capital to low-income and rural communities
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Entities that provide capital to low-income and rural communities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	2,509	2,301
Carrying Amount of Liabilities	10	10
Entities that provide capital to low-income and rural communities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Other
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	466	337
Other \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Other \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	466	337
Carrying Amount of Liabilities	0	0
Total other VIEs
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	6,017	5,281
Total other VIEs \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	2,780	2,562
Carrying Amount of Liabilities	15	29
Total other VIEs \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	6,017	5,281
Carrying Amount of Liabilities	2,049	1,596
Credit card loan securitizations
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Credit card loan securitizations \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	24,610	23,620
Carrying Amount of Liabilities	14,689	13,877
Credit card loan securitizations \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Auto loan securitizations
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Auto loan securitizations \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	4,464	4,863
Carrying Amount of Liabilities	3,651	4,002
Auto loan securitizations \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Total securitization-related VIEs
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Total securitization-related VIEs \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	29,074	28,483
Carrying Amount of Liabilities	18,340	17,879
Total securitization-related VIEs \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	$ 0	$ 0

Loans - TDR Disclosure - Financial Effects of Financial Difficulty Modifications to Borrowers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 495		$ 1,629
Credit Card:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		106		289
Credit Card: \| Domestic Card \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	19.40%		19.19%
Credit Card: \| Domestic Card \| Principal Forgiveness [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction	$ 0		$ 0
Credit Card: \| Domestic Card \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	12 months		12 months
Credit Card: \| International card businesses \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	27.41%		27.08%
Credit Card: \| International card businesses \| Principal Forgiveness [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction	$ 0		$ 0
Credit Card: \| International card businesses \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	0 months		0 months
Consumer Banking:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		276		796
Consumer Banking: \| Auto
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		275		794
Consumer Banking: \| Auto \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	8.67%		8.74%
Consumer Banking: \| Auto \| Principal Forgiveness [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction	$ 0		$ 1
Consumer Banking: \| Auto \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	6 months		6 months
Consumer Banking: \| Retail banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		1		2
Consumer Banking: \| Retail banking \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	0.00%		2.00%
Consumer Banking: \| Retail banking \| Principal Forgiveness [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction	$ 0		$ 0
Consumer Banking: \| Retail banking \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	8 months		13 months
Commercial Portfolio
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		113		544
Commercial Portfolio \| Commercial and multifamily real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		38		302
Commercial Portfolio \| Commercial and multifamily real estate \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	0.00%		0.00%
Commercial Portfolio \| Commercial and multifamily real estate \| Principal Forgiveness [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction	$ 0		$ 20
Commercial Portfolio \| Commercial and multifamily real estate \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	11 months		15 months
Commercial Portfolio \| Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction		$ 75		$ 242
Commercial Portfolio \| Commercial and industrial \| Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-average interest rate reduction	0.25%		0.25%
Commercial Portfolio \| Commercial and industrial \| Principal Forgiveness [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Principal balance reduction	$ 0		$ 3
Commercial Portfolio \| Commercial and industrial \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	17 months		9 months

Stockholders' Equity - Preferred Stock Outstanding (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 4,845	$ 4,845
Series I Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	5.00%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of September 30, 2023	1,500,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 1,462	1,462
Series J Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.80%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of September 30, 2023	1,250,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 1,209	1,209
Series K Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.625%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of September 30, 2023	125,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 122	122
Series L Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.375%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of September 30, 2023	675,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 652	652
Series M Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	3.95%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of September 30, 2023	1,000,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 988	988
Preferred Stock, Dividend Payment Rate, Variable	5-Year Treasury Rate +3.157
Series N Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.25%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of September 30, 2023	425,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 412	$ 412

Earnings Per Common Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Award
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options excluded from the computation of diluted earnings per share (in shares)	0	33	13	23

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”).

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. While management makes its best judgments, actual amounts or results could differ from these estimates. In the opinion of management, all normal, recurring adjustments have been included for a fair statement of this interim financial information.

New Accounting Standards

Newly Adopted Accounting Standards During the Nine Months Ended September 30, 2023

Standard

Guidance

Adoption Timing and Financial Statement Impacts

Modifications to Borrowers Experiencing Financial Difficulty and Vintage Disclosures

ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures

Issued March 2022

Requires an entity to disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases.

Loans - Credit Card Delinquency Status (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 314,780	$ 312,331
Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	146,362	137,394
Revolving Loans Converted to Term	421	336
Total	146,783	137,730
Domestic credit card: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	139,940	131,284
Revolving Loans Converted to Term	380	297
Total	140,320	131,581
International card businesses: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	6,422	6,110
Revolving Loans Converted to Term	41	39
Total	6,463	6,149
Current \| Domestic credit card: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	133,953	126,811
Revolving Loans Converted to Term	314	255
Total	134,267	127,066
Current \| International card businesses: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	6,140	5,866
Revolving Loans Converted to Term	30	29
Total	6,170	5,895
30-59 days \| Domestic credit card: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	1,796	1,388
Revolving Loans Converted to Term	24	17
Total	1,820	1,405
30-59 days \| International card businesses: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	101	83
Revolving Loans Converted to Term	4	3
Total	105	86
60-89 days \| Domestic credit card: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	1,312	964
Revolving Loans Converted to Term	17	11
Total	1,329	975
60-89 days \| International card businesses: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	64	55
Revolving Loans Converted to Term	3	3
Total	67	58
Greater than 90 days \| Domestic credit card: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	2,879	2,121
Revolving Loans Converted to Term	25	14
Total	2,904	2,135
Greater than 90 days \| International card businesses: \| Credit Card:
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving Loans	117	106
Revolving Loans Converted to Term	4	4
Total	$ 121	$ 110

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Cash and cash equivalents:
Cash and due from banks	$ 4,620	$ 5,193
Interest-bearing deposits and other short-term investments	40,249	25,663
Total cash and cash equivalents	44,869	30,856
Restricted cash for securitization investors	435	400
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	74,837	76,919
Loans held for investment:
Total loans held for investment	314,780	312,331
Allowance for credit losses	(14,955)	(13,240)
Net loans held for investment	299,825	299,091
Loans held for sale ($314 million and $191 million carried at fair value as of September 30, 2023 and December 31, 2022, respectively)	742	203
Premises and equipment, net	4,378	4,351
Interest receivable	2,469	2,104
Goodwill	15,048	14,777
Other assets	28,832	26,548
Total assets	471,435	455,249
Liabilities:
Interest payable	685	527
Deposits [Abstract]
Non-interest-bearing deposits	28,794	32,203
Interest-bearing deposits	317,217	300,789
Total deposits	346,011	332,992
Securitized debt obligations	17,417	16,973
Other debt:
Federal funds purchased and securities loaned or sold under agreements to repurchase	522	883
Senior and subordinated notes	31,283	30,826
Other borrowings	25	33
Total other debt	31,830	31,742
Other liabilities	21,824	20,433
Total liabilities	417,767	402,667
Commitments, contingencies and guarantees (see Note 13)
Stockholders’ equity:
Preferred stock (par value $0.01 per share; 50,000,000 shares authorized; 4,975,000 shares issued and outstanding as of both September 30, 2023 and December 31, 2022)	0	0
Common stock (par value $0.01 per share; 1,000,000,000 shares authorized; 695,336,698 and 690,334,422 shares issued as of September 30, 2023 and December 31, 2022, respectively; 380,991,150 and 381,318,702 shares outstanding as of September 30, 2023 and December 31, 2022, respectively)	7	7
Additional paid-in capital, net	35,334	34,725
Retained earnings	60,529	57,184
Accumulated other comprehensive loss	(12,224)	(9,916)
Treasury stock, at cost (par value $0.01 per share; 314,345,548 and 309,015,720 shares as of September 30, 2023 and December 31, 2022, respectively)	(29,978)	(29,418)
Total stockholders’ equity	53,668	52,582
Total liabilities and stockholders’ equity	471,435	455,249
Unsecuritized loans held for investment
Loans held for investment:
Total loans held for investment	284,953	283,282
Loans held in consolidated trusts
Loans held for investment:
Total loans held for investment	29,827	29,049
Total assets	31,854	31,045
Other debt:
Total liabilities	$ 18,355	$ 17,908

Investment Securities - Securities in Gross Unrealized Loss Position (Details) $ in Millions	Sep. 30, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	$ 10,980	$ 30,629
Fair Value - 12 Months or Longer	60,388	40,544
Fair Value - Total	71,368	71,173
Gross Unrealized Loss - Less than 12 Months	(294)	(2,141)
Gross Unrealized Loss - 12 Months or Longer	(12,610)	(8,133)
Gross Unrealized Loss - Total	$ (12,904)	$ (10,274)
Number of securities in gross unrealized loss positions \| security	2,910	2,840
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	$ 2,410	$ 2,464
Fair Value - 12 Months or Longer	2,206	448
Fair Value - Total	4,616	2,912
Gross Unrealized Loss - Less than 12 Months	(1)	(57)
Gross Unrealized Loss - 12 Months or Longer	(74)	(33)
Gross Unrealized Loss - Total	(75)	(90)
RMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	6,472	23,271
Fair Value - 12 Months or Longer	51,771	36,803
Fair Value - Total	58,243	60,074
Gross Unrealized Loss - Less than 12 Months	(265)	(1,809)
Gross Unrealized Loss - 12 Months or Longer	(11,680)	(7,604)
Gross Unrealized Loss - Total	(11,945)	(9,413)
RMBS, Non-agency
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	5	14
Fair Value - 12 Months or Longer	11	3
Fair Value - Total	16	17
Gross Unrealized Loss - Less than 12 Months	0	(1)
Gross Unrealized Loss - 12 Months or Longer	(1)	0
Gross Unrealized Loss - Total	(1)	(1)
RMBS
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	6,477	23,285
Fair Value - 12 Months or Longer	51,782	36,806
Fair Value - Total	58,259	60,091
Gross Unrealized Loss - Less than 12 Months	(265)	(1,810)
Gross Unrealized Loss - 12 Months or Longer	(11,681)	(7,604)
Gross Unrealized Loss - Total	(11,946)	(9,414)
CMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	1,322	4,325
Fair Value - 12 Months or Longer	6,092	3,214
Fair Value - Total	7,414	7,539
Gross Unrealized Loss - Less than 12 Months	(26)	(267)
Gross Unrealized Loss - 12 Months or Longer	(854)	(493)
Gross Unrealized Loss - Total	(880)	(760)
Other securities
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	771	555
Fair Value - 12 Months or Longer	308	76
Fair Value - Total	1,079	631
Gross Unrealized Loss - Less than 12 Months	(2)	(7)
Gross Unrealized Loss - 12 Months or Longer	(1)	(3)
Gross Unrealized Loss - Total	$ (3)	$ (10)

Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 1,790	$ 1,694	$ 4,181	$ 6,128
Dividends and undistributed earnings allocated to participating securities	(28)	(21)	(67)	(74)
Preferred stock dividends	(57)	(57)	(171)	(171)
Net income available to common stockholders	$ 1,705	$ 1,616	$ 3,943	$ 5,883
Total weighted-average basic common shares outstanding	382.5	383.4	382.7	394.9
Effect of dilutive securities:
Stock options	0.1	0.2	0.1	0.4
Other contingently issuable shares	0.7	1.0	0.8	1.1
Total effect of dilutive securities	0.8	1.2	0.9	1.5
Total weighted Average Number of Shares Outstanding, Diluted, Total	383.3	384.6	383.6	396.4
Basic earnings per common share:
Net income per basic common share	$ 4.46	$ 4.21	$ 10.31	$ 14.90
Diluted earnings per common share:
Net income per diluted common share	$ 4.45	$ 4.20	$ 10.28	$ 14.84

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets


NOTE 6—GOODWILL AND OTHER INTANGIBLE ASSETS

Table 6.1: Components of Goodwill, Other Intangible Assets and MSRs


	September 30, 2023
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount
Goodwill	$	15,048	N/A		$	15,048
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	369		$	(76)	293

Other(1)	171		(132)		39
Total other intangible assets	540		(208)		332
Total goodwill and other intangible assets	$	15,588	$	(208)	$	15,380
Commercial MSRs(2)	$	654	$	(249)	$	405

	December 31, 2022
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount
Goodwill	$	14,777	N/A		$	14,777
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	147		$	(26)	121

Other(1)	195		(157)		38
Total other intangible assets	342		(183)		159
Total goodwill and other intangible assets	$	15,119	$	(183)	$	14,936
Commercial MSRs(2)	$	660	$	(223)	$	437

__________

(1)Primarily consists of intangibles for sponsorship, customer and merchant relationships, domain names and licenses.

(2)Commercial MSRs are accounted for under the amortization method on our consolidated balance sheets.

Amortization expense for amortizable intangible assets, which is presented separately in our consolidated statements of income, totaled $24 million and $60 million for the three and nine months ended September 30, 2023, respectively, and $17 million and $45 million for the three and nine months ended September 30, 2022, respectively.

Goodwill

The following table presents changes in the carrying amount of goodwill by each of our business segments for the nine months ended September 30, 2023.

Table 6.2: Goodwill by Business Segments


(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total








Balance as of December 31, 2022	$	5,078	$	4,645	$	5,054	$	14,777
Acquisitions	273		0		0		273

Other adjustments(1)	(2)		0		0		(2)
Balance as of September 30, 2023	$	5,349	$	4,645	$	5,054	$	15,048

__________

(1)Represents foreign currency translation adjustments and measurement period adjustments.

Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	$ 74,837.0	$ 76,919.0
Loans Held-for-sale, Fair Value Disclosure	314.0	191.0
Derivative assets, gross amount	3,381.0	3,098.0
Derivative asset, netting adjustments	(1,471.0)	(1,134.0)
Derivative asset	$ 1,910.0	1,964.0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Liabilities:
Derivative liabilities, gross amount	$ 3,699.0	4,550.0
Derivative liability, netting adjustments	(632.0)	(1,235.0)
Derivative liability	3,067.0	3,315.0
Net valuation allowance	1.0	4.0
Level 1
Assets:
Loans Held-for-sale, Fair Value Disclosure	0.0	0.0
Level 2
Assets:
Loans Held-for-sale, Fair Value Disclosure	440.0	11.0
Level 3
Assets:
Loans Held-for-sale, Fair Value Disclosure	0.0	0.0
Recurring
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	74,837.0	76,919.0
Loans Held-for-sale, Fair Value Disclosure	314.0	191.0
Derivative asset	1,910.0	1,964.0
Other assets	567.0	503.0
Total assets	77,628.0	79,577.0
Liabilities:
Derivative liability	3,067.0	3,315.0
Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	5,397.0	5,227.0
Loans Held-for-sale, Fair Value Disclosure	0.0	0.0
Derivative assets, gross amount	725.0	474.0
Other assets	529.0	464.0
Total assets	6,651.0	6,165.0
Other assets:
Deferred compensation plan assets	524.0	453.0
Liabilities:
Derivative liabilities, gross amount	822.0	823.0
Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	69,165.0	71,314.0
Loans Held-for-sale, Fair Value Disclosure	314.0	191.0
Derivative assets, gross amount	1,333.0	2,545.0
Other assets	3.0	3.0
Total assets	70,815.0	74,053.0
Liabilities:
Derivative liabilities, gross amount	1,622.0	3,653.0
Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	275.0	378.0
Loans Held-for-sale, Fair Value Disclosure	0.0	0.0
Derivative assets, gross amount	1,323.0	79.0	$ 110.0
Other assets	35.0	36.0
Total assets	1,633.0	493.0
Other assets:
Retained interests in securitizations	35.0	36.0
Liabilities:
Derivative liabilities, gross amount	1,255.0	74.0	$ 115.0
Recurring \| Fair Value Inputs Level 1 And Level 2 [Member]
Other assets:
Equity securities	8.0	14.0
Liabilities:
Debt and Equity Securities, Unrealized Gain (Loss)	(1.0)	(23.0)
U.S. Treasury securities
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	5,205.0	5,041.0
U.S. Treasury securities \| Recurring
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	5,205.0	5,041.0
U.S. Treasury securities \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	5,205.0	5,041.0
U.S. Treasury securities \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	0.0	0.0
U.S. Treasury securities \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	0.0	0.0
RMBS
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	59,882.0	62,589.0
RMBS \| Recurring
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	59,882.0	62,589.0
RMBS \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	0.0	0.0
RMBS \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	59,733.0	62,353.0
RMBS \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	149.0	236.0
CMBS \| Recurring
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	7,839.0	7,870.0
CMBS \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	0.0	0.0
CMBS \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	7,713.0	7,728.0
CMBS \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	126.0	142.0
Other securities
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	1,911.0	1,419.0
Other securities \| Recurring
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	1,911.0	1,419.0
Other securities \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	192.0	186.0
Other securities \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	1,719.0	1,233.0
Other securities \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.7 billion and $87.0 billion and allowance for credit losses of $4 million and $3 million as of September 30, 2023 and December 31, 2022, respectively)	$ 0.0	$ 0.0

Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table displays our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis as of September 30, 2023 and December 31, 2022.

Table 11.1: Assets and Liabilities Measured at Fair Value on a Recurring Basis


	September 30, 2023
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	5,205	$	0	$	0	0		$	5,205
RMBS	0		59,733		149		0		59,882
CMBS	0		7,713		126		0		7,839
Other securities	192		1,719		0		0		1,911
Total securities available for sale	5,397		69,165		275		0		74,837
Loans held for sale	0		314		0		0		314
Other assets:
Derivative assets(2)	725		1,333		1,323		$	(1,471)	1,910
Other(3)	529		3		35		0		567
Total assets	$	6,651	$	70,815	$	1,633	$	(1,471)	$	77,628
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	822	$	1,622	$	1,255	$	(632)	$	3,067
Total liabilities	$	822	$	1,622	$	1,255	$	(632)	$	3,067


	December 31, 2022
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	5,041	$	0	$	0	0		$	5,041
RMBS	0		62,353		236		0		62,589
CMBS	0		7,728		142		0		7,870
Other securities	186		1,233		0		0		1,419
Total securities available for sale	5,227		71,314		378		0		76,919
Loans held for sale	0		191		0		0		191
Other assets:
Derivative assets(2)	474		2,545		79		$	(1,134)	1,964
Other(3)	464		3		36		0		503
Total assets	$	6,165	$	74,053	$	493	$	(1,134)	$	79,577
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	823	$	3,653	$	74	$	(1,235)	$	3,315
Total liabilities	$	823	$	3,653	$	74	$	(1,235)	$	3,315

__________

Schedule of Level 3 Inputs Reconciliation

Table 11.2: Level 3 Recurring Fair Value Rollforward



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Three Months Ended September 30, 2023
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2023(1)
(Dollars in millions)	Balance, July 1, 2023		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2023
Securities available for sale:(2)
RMBS	$	206	$	2	$	(5)	$	0	$	0	$	0	$	(6)	$	2	$	(50)	$	149	$	2
CMBS	133		0		(6)		0		0		0		(1)		0		0		126		0

Total securities available for sale	339		2		(11)		0		0		0		(7)		2		(50)		275		2
Other assets:

Retained interests in securitizations	36		(1)		0		0		0		0		0		0		0		35		(1)
Net derivative assets (liabilities)(3)	64		(2)		0		0		0		3		18		(15)		0		68		4


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Nine Months Ended September 30, 2023
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2023(1)
(Dollars in millions)	Balance, January 1, 2023		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2023
Securities available for sale:(2)
RMBS	$	236	$	6	$	(4)	$	0	$	0	$	0	$	(17)	$	47	$	(119)	$	149	$	5
CMBS	142		0		(12)		0		0		0		(4)		0		0		126		0

Total securities available for sale	378		6		(16)		0		0		0		(21)		47		(119)		275		5
Other assets:

Retained interests in securitizations	36		(1)		0		0		0		0		0		0		0		35		(1)
Net derivative assets (liabilities)(3)(4)	5		(20)		0		0		0		176		75		(167)		(1)		68		71



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Three Months Ended September 30, 2022
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2022(1)
(Dollars in millions)	Balance, July 1, 2022		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2022
Securities available for sale:(2)
RMBS	$	240	$	2	$	(9)	$	0	$	0	$	0	$	(10)	$	8	$	(13)	$	218	$	2
CMBS	13		(1)		(1)		0		0		0		(8)		177		0		180		0

Total securities available for sale	253		1		(10)		0		0		0		(18)		185		(13)		398		2
Other assets:

Retained interests in securitizations	37		(1)		0		0		0		0		0		0		0		36		(1)
Net derivative assets (liabilities)(3)	(12)		(22)		0		0		0		(11)		0		0		40		(5)		(22)


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Nine Months Ended September 30, 2022
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30, 2022(1)
(Dollars in millions)	Balance, January 1, 2022		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, September 30, 2022
Securities available for sale:(2)
RMBS	$	258	$	15	$	(29)	$	0	$	0	$	0	$	(53)	$	92	$	(65)	$	218	$	6
CMBS	9		(1)		(2)		0		0		0		(13)		190		(3)		180		(1)

Total securities available for sale	267		14		(31)		0		0		0		(66)		282		(68)		398		5
Other assets:

Retained interests in securitizations	41		(5)		0		0		0		0		0		0		0		36		(5)
Net derivative assets (liabilities)(3)	19		(63)		0		0		0		25		2		(28)		40		(5)		(20)

_________

(3)Includes derivative assets and liabilities of $1.3 billion and $1.3 billion, respectively, as of September 30, 2023 and $110 million and $115 million, respectively, as of September 30, 2022.

(4)Transfers into Level 3 primarily consist of term SOFR-indexed interest rate derivatives.

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Quantitative Information

Table 11.3: Quantitative Information about Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
September 30,
2023

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

149

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

3-15%

0-12%

0-10%

20-80%

61%

CMBS

126

Discounted cash flows (vendor pricing)

Yield

6-7%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

33-64

9-11%

5-13%

1-2%

39-163%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

4-5%

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
December 31,
2022

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

236

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

3-12%

4-20%

0-11%

30-80%

58%

CMBS

142

Discounted cash flows (vendor pricing)

Yield

4-5%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

30-43

9-18%

4-7%

62-291%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

3-4%

__________

(1)Weighted averages are calculated by using the product of the input multiplied by the relative fair value of the instruments.

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

Table 11.4: Nonrecurring Fair Value Measurements


	September 30, 2023
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	424	$	424
Loans held for sale	0		0		0
Other assets(1)	0		212		212
Total	$	0	$	636	$	636


	December 31, 2022
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	284	$	284
Loans held for sale	11		0		11
Other assets(1)	0		220		220
Total	$	11	$	504	$	515

__________

Schedule of Earnings Related to Assets Measured at Fair Value on Nonrecurring Basis

Table 11.5: Nonrecurring Fair Value Measurements Included in Earnings


	Total Gains (Losses)
	Nine Months Ended September 30,
(Dollars in millions)	2023		2022
Loans held for investment	$	(315)	$	24
Loans held for sale	0		0
Other assets(1)	(52)		(33)
Total	$	(367)	$	(9)

__________

Schedule of Fair Value of Financial Instruments

Table 11.6: Fair Value of Financial Instruments


	September 30, 2023
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	44,869	$	44,869	$	4,620	$	40,249	$	0
Restricted cash for securitization investors	435		435		435		0		0

Net loans held for investment	299,825		305,810		0		0		305,810
Loans held for sale	428		440		0		440		0
Interest receivable	2,469		2,469		0		2,469		0
Other investments(1)	1,329		1,329		0		1,329		0
Financial liabilities:
Deposits with defined maturities	79,176		78,833		0		78,833		0
Securitized debt obligations	17,417		17,409		0		17,409		0
Senior and subordinated notes	31,283		31,051		0		31,051		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	522		522		0		522		0

Interest payable	685		685		0		685		0


	December 31, 2022
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	30,856	$	30,856	$	5,193	$	25,663	$	0
Restricted cash for securitization investors	400		400		400		0		0
Net loans held for investment	299,091		302,920		0		0		302,920
Loans held for sale	11		11		0		11		0
Interest receivable	2,104		2,104		0		2,104		0
Other investments(1)	1,326		1,326		0		1,326		0
Financial liabilities:
Deposits with defined maturities	45,858		45,531		0		45,531		0
Securitized debt obligations	16,973		16,918		0		16,918		0
Senior and subordinated notes	30,826		30,744		0		30,744		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	883		883		0		883		0

Interest payable	527		527		0		527		0

__________

(1)Other investments include FHLB and Federal Reserve stock. These investments are included in other assets on our consolidated balance sheets.

Goodwill and Intangible Assets - Goodwill Business Segments (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 14,777
Acquisitions	273
Other adjustments	(2)
Goodwill, Ending Balance	15,048
Credit Card
Goodwill [Roll Forward]
Goodwill, Beginning Balance	5,078
Acquisitions	273
Other adjustments	(2)
Goodwill, Ending Balance	5,349
Consumer Banking
Goodwill [Roll Forward]
Goodwill, Beginning Balance	4,645
Acquisitions	0
Other adjustments	0
Goodwill, Ending Balance	4,645
Commercial Banking
Goodwill [Roll Forward]
Goodwill, Beginning Balance	5,054
Acquisitions	0
Other adjustments	0
Goodwill, Ending Balance	$ 5,054