$ 2,780

$ 3,466

Available-for-sale debt and other securities

^[1]

9,794

8,351

^[2]

50,719

51,503

^[3]

2

5

Trading debt securities

1,174

414

Equity securities

323

317

Portfolio loans and leases

^[4]

749

1,007

122,857

121,480

Portfolio loans and leases, net

^[1]

(2,215)

(2,194)

120,642

119,286

Bank premises and equipment

^[5]

2,219

2,187

Operating lease equipment

578

627

Goodwill

4,915

Intangible assets

157

169

Servicing rights

1,725

1,746

Noninterest-bearing deposits

^[1]

12,880

13,459

Total Assets

208,657

207,452

Deposits:

49,649

53,125

Interest-bearing deposits

113,326

110,565

Total deposits

162,975

163,690

177

180

Accrued taxes, interest and expenses

7,364

4,838

1,577

1,822

^[1]

5,307

5,881

Accumulated other comprehensive loss

^[1]

12,893

13,714

Total Liabilities

190,293

190,125

Equity

Common stock

^[6]

2,051

Preferred stock

^[7]

2,116

Capital surplus

3,682

3,684

Retained earnings

22,032

21,689

(4,245)

(5,110)

Treasury stock

^[6]

(7,272)

(7,103)

Total Equity

18,364

17,327

Total Liabilities and Equity

$ 208,657

$ 207,452

[1]	Includes $5 and $17 of other short-term investments, $44 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $38 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2023 and December 31, 2022, respectively. For further information, refer to Note 12.
[2]	Amortized cost of $55,958 and $57,530 at March 31, 2023 and December 31, 2022, respectively.
[3]	Fair value of $2 and $5 at March 31, 2023 and December 31, 2022, respectively.
[4]	Includes $599 and $600 of residential mortgage loans held for sale measured at fair value at March 31, 2023 and December 31, 2022, respectively.
[5]	Includes $22 and $24 of bank premises and equipment held for sale at March 31, 2023 and December 31, 2022, respectively.
[6]	Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at March 31, 2023 – 680,536,608 (excludes 243,355,973 treasury shares), December 31, 2022 – 683,385,880 (excludes 240,506,701 treasury shares).
[7]	500,000 shares of no par value preferred stock were authorized at both March 31, 2023 and December 31, 2022. There were 422,000 unissued shares of undesignated no par value preferred stock at both March 31, 2023 and December 31, 2022. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both March 31, 2023 and December 31, 2022. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both March 31, 2023 and December 31, 2022. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Portfolio loans and leases

^[1]

$ 9,794

$ 8,351

122,857

121,480

^[1]

(2,215)

(2,194)

^[1]

12,880

13,459

^[1]

5,307

5,881

Available-for-sale debt and other securities, amortized cost

^[1]

12,893

13,714

55,958

57,530

Bank premises and equipment held for sale

2

5

$ 22

$ 24

Common stock, par value (in dollars per share)

$ 2.22

Common stock, shares authorized (in shares)

2,000,000,000

Common stock, outstanding (in shares)

680,536,608

683,385,880

Treasury stock, common (in shares)

243,355,973

240,506,701

Preferred stock, authorized (in shares)

500,000

Preferred stock, unissued (in shares)

422,000

Preferred stock, liquidation preference per share (in dollars per share)

$ 25,000

Preferred Class B

Preferred stock, authorized (in shares)

500,000

Preferred stock, unissued (in shares)

300,000

Preferred stock, liquidation preference per share (in dollars per share)

$ 1,000

Variable Interest Entity, Primary Beneficiary | Automobile And Solar Loan

$ (185)

$ (245)

Loans held for sale

599

600

Loans measured at FV

128

123

Portfolio loans and leases

5

17

44

185

(1)

(2)

0

2

9

Beginning balance at Dec. 31, 2021

$ 38

$ 118

[1]

Includes $5 and $17 of other short-term investments, $44 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $38 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2023 and December 31, 2022, respectively. For further information, refer to Note 12.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest Income
Interest and fees on loans and leases	$ 1,714	$ 983
Interest on securities	439	294
Interest on other short-term investments	60	12
Total interest income	2,213	1,289
Interest Expense
Interest on deposits	478	11
Interest on federal funds purchased	5	0
Interest on other short-term borrowings	57	0
Interest on long-term debt	156	83
Total interest expense	696	94
Net Interest Income	1,517	1,195
Provision for credit losses	164	45
Net Interest Income After Provision for Credit Losses	1,353	1,150
Noninterest Income
Commercial banking revenue	161	135
Wealth and asset management revenue	146	149
Service charges on deposits	137	152
Card and processing revenue	100	97
Mortgage banking net revenue	69	52
Leasing business revenue	57	62
Other noninterest income	22	52
Securities gains (losses), net	4	(14)
Securities losses, net – non-qualifying hedges on mortgage servicing rights	0	(1)
Total noninterest income	696	684
Noninterest Expense
Compensation and benefits	757	711
Technology and communications	118	101
Net occupancy expense	81	77
Equipment expense	37	36
Leasing business expense	34	32
Marketing expense	29	24
Card and processing expense	22	19
Other noninterest expense	253	222
Total noninterest expense	1,331	1,222
Income Before Income Taxes	718	612
Applicable income tax expense	160	118
Net Income	558	494
Dividends on preferred stock	23	20
Net Income Available to Common Shareholders	$ 535	$ 474
Shares Disclosures
Earnings per share - basic (in dollars per share)	$ 0.78	$ 0.69
Earnings per share - diluted (in dollars per share)	$ 0.78	$ 0.68
Average common shares outstanding - basic (in shares)	684,017,462	687,537,989
Average common shares outstanding - diluted (in shares)	689,566,425	696,242,395

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 558	$ 494
Net unrealized losses on available-for-sale debt securities:
Unrealized holding gains (losses) arising during period	600	(1,929)
Reclassification adjustment for net gains losses included in net income	0	(2)
Net unrealized losses on cash flow hedge derivatives:
Unrealized holding gains (losses) arising during period	215	(313)
Reclassification adjustment for net losses (gains) included in net income	50	(60)
Defined benefit pension plans, net:
Reclassification of amounts to net periodic benefit costs	0	1
Other comprehensive income (loss), net of tax	865	(2,303)
Comprehensive Income (Loss)	$ 1,423	$ (1,809)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($)
$ in Millions

Total

Cumulative Effect, Period of Adoption, Adjustment

^[1]

Cumulative Effect, Period of Adoption, Adjusted Balance

Series I Preferred Stock

Series J Preferred Stock

Series K Preferred Stock

Series L Preferred Stock

Class B, Series A Preferred Stock

Common Stock

Cumulative Effect, Period of Adoption, Adjusted Balance

Preferred Stock

Cumulative Effect, Period of Adoption, Adjusted Balance

Capital Surplus

Cumulative Effect, Period of Adoption, Adjusted Balance

Retained Earnings

Cumulative Effect, Period of Adoption, Adjustment

^[1]

Retained Earnings

Cumulative Effect, Period of Adoption, Adjusted Balance

Retained Earnings

Series I Preferred Stock

Retained Earnings

Series J Preferred Stock

Retained Earnings

Series K Preferred Stock

Retained Earnings

Series L Preferred Stock

Retained Earnings

Class B, Series A Preferred Stock

Accumulated Other Comprehensive (Loss) Income

Cumulative Effect, Period of Adoption, Adjusted Balance

Treasury Stock

Cumulative Effect, Period of Adoption, Adjusted Balance

$ 22,210

$ 2,051

$ 2,116

$ 3,624

$ 20,236

$ 1,207

$ (7,024)

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

Net Income

494

Other comprehensive income (loss), net of tax

(2,303)

Cash dividends declared:

Common stock

(209)

Preferred stock

$ (7)

$ (3)

$ (4)

$ (3)

$ (7)

$ (3)

$ (4)

$ (3)

Impact of stock transactions under stock compensation plans, net

5

(9)

14

Ending balance at Mar. 31, 2022

20,177

2,051

2,116

3,615

20,501

(1,096)

(7,010)

Beginning balance at Dec. 31, 2021

22,210

2,051

2,116

3,624

20,236

1,207

(7,024)

Ending balance at Dec. 31, 2022

$ 17,327

$ 37

$ 17,364

2,051

$ 2,051

2,116

$ 2,116

3,684

$ 3,684

21,689

$ 37

$ 21,726

(5,110)

$ (5,110)

(7,103)

$ (7,103)

Cash dividends declared:

Accounting Standards Update [Extensible Enumeration]

Accounting Standards Update 2022-02

Net Income

$ 558

558

Other comprehensive income (loss), net of tax

865

Common stock

(229)

Preferred stock

$ (7)

$ (6)

$ (3)

$ (4)

$ (3)

$ (7)

$ (6)

$ (3)

$ (4)

$ (3)

Shares acquired for treasury

(201)

Impact of stock transactions under stock compensation plans, net

30

(2)

32

Ending balance at Mar. 31, 2023

$ 18,364

$ 2,051

$ 2,116

$ 3,682

$ 22,032

$ (4,245)

$ (7,272)

[1]	Related to the adoption of ASU 2022-02 as of January 1, 2023. Refer to Note 3 for additional information.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Common stock, per share (in dollars per share)	$ 0.33	$ 0.30
Series I Preferred Stock
Preferred stock, per share (in dollars per share)	414.06	414.06
Series J Preferred Stock
Preferred stock, per share (in dollars per share)	492.75	209.48
Series K Preferred Stock
Preferred stock, per share (in dollars per share)	309.38	309.38
Series L Preferred Stock
Preferred stock, per share (in dollars per share)	281.25	281.25
Class B, Series A Preferred Stock
Preferred stock, per share (in dollars per share)	$ 15.00	$ 15.00

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Activities
Net Income	$ 558	$ 494
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	164	45
Depreciation, amortization and accretion	117	109
Stock-based compensation expense	76	79
(Benefit from) provision for deferred income taxes	(42)	19
Securities (gains) losses , net	(5)	18
MSR fair value adjustment	53	(137)
Net gains on sales of loans and fair value adjustments on loans held for sale	(18)	(8)
Net gains on disposition and impairment of bank premises and equipment and operating lease equipment	(1)	(3)
Proceeds from sales of loans held for sale	1,335	3,398
Loans originated or purchased for sale, net of repayments	(1,071)	(2,001)
Dividends representing return on equity investments	16	11
Net change in:
Equity and trading debt securities	(133)	186
Other assets	514	287
Accrued taxes, interest and expenses and other liabilities	(242)	(810)
Net Cash Provided by Operating Activities	1,321	1,687
Proceeds from sales:
AFS securities and other investments	2,054	993
Loans and leases	0	43
Bank premises and equipment	3	0
Proceeds from repayments / maturities of AFS and HTM securities and other investments	608	1,438
Purchases:
AFS securities and other investments	(2,045)	(14,423)
Bank premises and equipment	(113)	(63)
MSRs	(16)	(139)
Proceeds from settlement of BOLI	8	19
Proceeds from sales and dividends representing return of equity investments	14	8
Net change in:
Other short-term investments	(1,443)	14,043
Portfolio loans and leases	(1,452)	(3,504)
Operating lease equipment	19	(32)
Net Cash Used in Investing Activities	(2,363)	(1,617)
Financing Activities
Net change in deposits	(715)	1,287
Net change in other short-term borrowings and federal funds purchased	2,523	(139)
Dividends paid on common and preferred stock	(294)	(230)
Proceeds from issuance of long-term debt	6	12
Repayment of long-term debt	(917)	(870)
Repurchases of treasury stock and related forward contract	(200)	0
Other	(47)	(75)
Net Cash Provided by (Used in) Financing Activities	356	(15)
(Decrease) Increase in Cash and Due from Banks	(686)	55
Cash and Due from Banks at Beginning of Period	3,466	2,994
Cash and Due from Banks at End of Period	$ 2,780	$ 3,049

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of the Bancorp and its majority-owned subsidiaries and VIEs in which the Bancorp has been determined to be the primary beneficiary. Other entities, including certain joint ventures in which the Bancorp has the ability to exercise significant influence over operating and financial policies of the investee, but upon which the Bancorp does not possess control, are accounted for by the equity method and not consolidated. The investments in those entities in which the Bancorp does not have the ability to exercise significant influence are generally carried at fair value unless the investment does not have a readily determinable fair value. The Bancorp accounts for equity investments without a readily determinable fair value using the measurement alternative to fair value, representing the cost of the investment minus any impairment recorded and plus or minus changes resulting from observable price changes in orderly transactions for an identical or a similar investment of the same issuer. Intercompany transactions and balances among consolidated entities have been eliminated. In the opinion of management, the unaudited Condensed Consolidated Financial Statements include all adjustments, which consist of normal recurring accruals, necessary to present fairly the results for the periods presented. In accordance with U.S. GAAP and the rules and regulations of the SEC for interim financial information, these statements do not include certain information and footnote disclosures required for complete annual financial statements and it is suggested that these Condensed Consolidated Financial Statements be read in conjunction with the Bancorp’s Annual Report on Form 10-K. The results of operations, comprehensive income, cash flows and changes in equity for the three months ended March 31, 2023 and 2022 are not necessarily indicative of the results to be expected for the full year. Financial information as of December 31, 2022 has been derived from the Bancorp’s Annual Report on Form 10-K. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2023

Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

Cash payments related to interest and income taxes in addition to non-cash investing and financing activities are presented in the following table for the three months ended March 31:


($ in millions)	2023		2022
Cash Payments:
Interest	$	682	158
Income taxes	21		11

Transfers:
Portfolio loans and leases to loans and leases held for sale	$	3	71
Loans and leases held for sale to portfolio loans and leases	4		402
Portfolio loans and leases to OREO	3		2

Bank premises and equipment to OREO	8		15

Supplemental Disclosures:
Net additions to lease liabilities under operating leases	$	1	31
Net additions to lease liabilities under finance leases	—		3

Accounting and Reporting Developments	3 Months Ended
Accounting and Reporting Developments	Mar. 31, 2023
Accounting Policies [Abstract]
Accounting and Reporting Developments	Accounting and Reporting Developments Standards Adopted in 2023 The Bancorp adopted the following new accounting standards during the three months ended March 31, 2023: ASU 2021-08 – Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the FASB issued ASU 2021-08, which provides guidance on the accounting for revenue contracts with customers which are acquired in a business combination. The amendments generally state that an acquirer accounts for an acquired revenue contract with a customer as if it had originated the contract. The amendments also provide certain practical expedients for acquirers when recognizing and measuring acquired contract assets and liabilities. The Bancorp adopted the amended guidance on January 1, 2023 on a prospective basis and will apply the amendments for business combinations occurring on or after the adoption date. The adoption of the amended guidance did not have a material impact on the Bancorp’s Condensed Consolidated Financial Statements. ASU 2022-01 – Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method In March 2022, the FASB issued ASU 2022-01, which clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets and renames the last-of-layer method the portfolio layer method. Under previous guidance, the last-of-layer method enabled an entity to apply fair value hedging to a stated amount of a closed portfolio of prepayable financial assets without having to consider prepayment risk or credit risk when measuring those assets. ASU 2022-01 expands the scope of this guidance to allow entities to apply the portfolio layer method to portfolios of all financial assets, including both prepayable and nonprepayable financial assets. It allows entities to designate multiple layers within a single closed portfolio as individual hedged items. Further, ASU 2022-01 clarifies that the fair value basis adjustments should be adjusted at the portfolio level and should not be allocated to individual assets within the portfolio. The Bancorp adopted the amended guidance on January 1, 2023 on a prospective basis, except for the amendments related to fair value basis adjustments that, if applicable, were required to be applied on a modified retrospective basis. The adoption of the amended guidance did not have a material impact on the Bancorp’s Condensed Consolidated Financial Statements. ASU 2022-02 – Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures In March 2022, the FASB issued ASU 2022-02, which eliminates the accounting guidance on troubled debt restructurings for creditors in ASC 310-40, amends the guidance on calculating the allowance for credit losses for restructured financing receivables and requires entities to evaluate all receivable modifications under ASC 310-20 to determine whether a modification made to a borrower results in a new loan or the continuation of an existing loan. The amended guidance adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. The amended guidance also requires disclosure of current period gross charge-offs by year of origination within the vintage disclosures required by ASC 326. The Bancorp adopted the amended guidance on January 1, 2023 on a prospective basis, except for the amendments impacting the measurement of the ACL for TDRs and reasonably expected TDRs, which were adopted on a modified retrospective basis. Upon adoption, the Bancorp recorded a decrease to the ACL of $49 million and a cumulative-effect adjustment to retained earnings of $37 million, net of tax. This adjustment was primarily attributable to the removal of the requirement to use a discounted cash flow approach to measure the impact of certain concessions granted as part of a TDR and the removal of the requirement to consider the impacts of reasonably expected TDRs when estimating expected credit losses. The required disclosures are included in Note 6. ASU 2022-04 – Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations In September 2022, the FASB issued ASU 2022-04, which provides guidance on the disclosure requirements for supplier finance programs. The amendments require that a buyer in a supplier finance program disclose sufficient qualitative and quantitative information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. The Bancorp adopted the amended guidance on January 1, 2023 on a retrospective basis, except for the amendments related to disclosure of rollforward information, which are required to be adopted on January 1, 2024 on a prospective basis. The adoption of the amended guidance did not have a material impact on the Bancorp’s Condensed Consolidated Financial Statements. Significant Accounting Standards Issued but Not Yet Adopted The following significant accounting standards were issued but not yet adopted by the Bancorp as of March 31, 2023: ASU 2022-03 – Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions In June 2022, the FASB issued ASU 2022-03, which clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to contractual sale restrictions, stating that such restrictions are not considered part of the unit of account of the security and therefore are not considered in measuring fair value. The amended guidance also requires disclosure of the fair value of equity securities subject to contractual sale restrictions and certain additional information about those restrictions. The amended guidance is effective for the Bancorp on January 1, 2024, with early adoption permitted, and is to be applied prospectively. ASU 2023-02 – Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method In March 2023, the FASB issued ASU 2023-02, which expands the permitted usage of the proportional amortization method to include additional tax credit investment programs beyond qualifying LIHTC structures if certain conditions are met. The amended guidance permits entities to make elections to apply the proportional amortization method on a program-by-program basis for qualifying programs and also makes certain amendments to measurement and disclosure guidance. The amended disclosure guidance applies to all investments within programs where the proportional amortization method has been elected, including investments within those programs which do not meet the criteria to permit application of the proportional amortization method. The amended guidance is effective for the Bancorp on January 1, 2024, with early adoption permitted, and is to be applied on a modified retrospective or retrospective basis, except for certain provisions affecting the measurement of existing LIHTC investments which may be applied prospectively. The Bancorp is in the process of evaluating the impact of the amended guidance on the Condensed Consolidated Financial Statements. Reference Rate Reform and LIBOR Transition In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in the ASU apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, which clarified that the optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting also apply to derivatives that are affected by the discounting transition. The expedients and exceptions provided by the amendments did not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 for which an entity had elected certain optional expedients. Subsequently, in December 2022, the FASB issued ASU 2022-06 which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in ASU 2020-04 (as amended) are effective for the Bancorp as of March 12, 2020 and may be applied through December 31, 2024. The Bancorp is in the process of evaluating and applying, as applicable, the optional expedients and exceptions in accounting for eligible contract modifications, eligible existing hedging relationships and new hedging relationships available through December 31, 2024. Updates to Significant Accounting and Reporting Policies In conjunction with the adoption of ASU 2022-02 on January 1, 2023, the Bancorp has updated its accounting and reporting policies for nonaccrual loans and leases, loan modifications and the ALLL as described below. Refer to Note 1 of the Notes to Consolidated Financial Statements in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022 for discussion of these accounting and reporting policies for periods prior to January 1, 2023. Portfolio loans and leases - nonaccrual loans and leases The Bancorp places loans and leases on nonaccrual status when full repayment of principal and interest is not expected, unless the loan or lease is well-secured and in the process of collection. When a loan is placed on nonaccrual status, the accrual of interest, amortization of loan premium, accretion of loan discount and amortization/accretion of deferred net direct loan origination fees or costs are discontinued and all previously accrued and unpaid interest is reversed against income. The Bancorp utilizes the following policies to determine when full repayment of principal and interest on a loan or lease is not expected: •Commercial loans are placed on nonaccrual status when there is a clear indication that the borrower’s cash flows may not be sufficient to meet payments as they become due. Such loans are also placed on nonaccrual status when the principal or interest is past due 90 days or more, unless the loan is fully or partially guaranteed by a government agency. •Residential mortgage loans are placed on nonaccrual status when principal and interest payments become past due 150 days or more, unless repayment of the loan is fully or partially guaranteed by a government agency. Residential mortgage loans may stay on nonaccrual status for an extended time as the foreclosure process typically lasts longer than 180 days. The Bancorp maintains a reserve for the portion of accrued interest receivable that it estimates will be uncollectible, at the portfolio level, for residential mortgage loans which are past due 90 days or more and on accrual status. This reserve is recorded as a component of other assets on the Bancorp’s Condensed Consolidated Balance Sheets, consistent with the classification of the related accrued interest receivable. •Home equity loans and lines of credit are placed on nonaccrual status if principal or interest has been in default for 90 days or more. Home equity loans and lines of credit that have been in default for 60 days or more are also placed on nonaccrual status if the senior lien has been in default 120 days or more. •Credit card loans that have been modified for a borrower experiencing financial difficulty are placed on nonaccrual status at the time of the modification. Subsequent to the modification, accounts are placed on nonaccrual status when required payments become past due 90 days or more in accordance with the modified terms. •Indirect secured consumer loans and other consumer loans are generally placed on nonaccrual status when principal or interest becomes past due 90 days or more. •Loans discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower are considered collateral-dependent loans and placed on nonaccrual status, regardless of the borrower’s payment history or capacity to repay in the future. Well-secured loans are collateralized by perfected security interests in real and/or personal property for which the Bancorp estimates proceeds from the sale would be sufficient to recover the outstanding principal and accrued interest balance of the loan and pay all costs to sell the collateral. The Bancorp considers a loan in the process of collection if collection efforts or legal action is proceeding and the Bancorp expects to collect funds sufficient to bring the loan current or recover the entire outstanding principal and accrued interest balance in the near future. Nonaccrual loans and leases may be returned to accrual status when all delinquent principal and interest payments become current in accordance with the loan agreement and the remaining principal and interest payments are reasonably assured of repayment in accordance with the contractual terms of the loan agreement, or when the loan is both well-secured and in the process of collection. Nonaccrual loans that have been modified for a borrower experiencing financial difficulty may not be returned to accrual status unless such loans have sustained repayment performance of six months or more and are reasonably assured of repayment in accordance with the modified terms. Loans discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower may be returned to accrual status provided there is a sustained payment history of twelve months or more after bankruptcy and collectability is reasonably assured for all remaining contractual payments. Except for loans discharged in a Chapter 7 bankruptcy that are not reaffirmed by the borrower, accruing residential mortgage loans, home equity loans and lines of credit, indirect secured consumer loans and other consumer loans modified for borrowers experiencing financial difficulty are maintained on accrual status, provided there is reasonable assurance of repayment and of performance according to the modified terms based upon a current, well-documented credit evaluation. Accruing commercial loans modified for borrowers experiencing financial difficulty are maintained on accrual status provided there is a sustained payment history of six months or more prior to the modification and collectability is reasonably assured for all remaining contractual payments under the modified terms. Modifications of commercial loans and credit card loans for borrowers experiencing financial difficulty that do not have a sustained payment history of six months or more in accordance with their modified terms remain on nonaccrual status until a six-month payment history is sustained. Nonaccrual loans and leases are generally accounted for on the cost recovery method due to the existence of doubt as to the collectability of the remaining amortized cost basis of nonaccrual assets. Under the cost recovery method, any payments received are applied to reduce principal. Once the entire amortized cost basis is collected, additional payments received are treated as recoveries of amounts previously charged-off until recovered in full, and any subsequent payments are treated as interest income. In certain circumstances when the remaining amortized cost basis of a nonaccrual loan or lease is deemed to be fully collectible, the Bancorp may utilize the cash basis method to account for interest payments received on a nonaccrual loan or lease. Under the cash basis method, interest income is recognized when cash is received, to the extent such income would have been accrued on the loan’s remaining balance at the contractual rate. The Bancorp records a charge-off to the ALLL when all or a portion of a loan or lease is deemed to be uncollectible, after considering the net realizable value of any underlying collateral. Commercial loans and leases on nonaccrual status and criticized commercial loans with aggregate borrower relationships exceeding $1 million are subject to an individual review to identify charge-offs. The Bancorp does not have an established delinquency threshold for partially or fully charging off commercial loans and leases. The Bancorp records charge-offs on consumer loans in accordance with applicable regulatory guidelines, which are primarily based on a loan’s delinquency status. Portfolio loans and leases - loan modifications In circumstances where an existing loan is modified (including a restructuring, refinancing, or other changes in terms which affect the loan’s contractual cash flows), the Bancorp evaluates whether the modification results in a continuation of the existing loan or the origination of a new loan. The Bancorp accounts for a modification as a new loan if the terms of the modified loan are at least as favorable to the Bancorp as the terms for comparable loans to other borrowers with similar collection risks who are obtaining new loans, or if the modification of terms is considered more than minor. If neither of these conditions are met, then the Bancorp will account for the loan as a continuation of the existing loan. When a modification is accounted for as a new loan, any unamortized net deferred fees or costs from the original loan are recognized in interest income when the new loan is originated. When a modification is accounted for as a continuation of the existing loan, the unamortized net deferred fees or costs from the original loan and any additional incremental direct fees and costs are carried forward and deferred as part of the amortized cost basis of the modified loan. ALLL The Bancorp disaggregates its portfolio loans and leases into portfolio segments for purposes of determining the ALLL. The Bancorp’s portfolio segments include commercial, residential mortgage and consumer. The Bancorp further disaggregates its portfolio segments into classes for purposes of monitoring and assessing credit quality based on certain risk characteristics. Classes within the commercial portfolio segment include commercial and industrial, commercial mortgage owner-occupied, commercial mortgage nonowner-occupied, commercial construction and commercial leasing. The residential mortgage portfolio segment is also considered a class. Classes within the consumer portfolio segment include home equity, indirect secured consumer, credit card and other consumer loans. The Bancorp maintains the ALLL to absorb the amount of credit losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. Contractual terms are adjusted for expected prepayments but are not extended for expected extensions, renewals or modifications except in circumstances where extension or renewal options are embedded in the original contract and not unconditionally cancellable by the Bancorp. Accrued interest receivable on loans is presented in the Condensed Consolidated Financial Statements as a component of other assets. When accrued interest is deemed to be uncollectible (typically when a loan is placed on nonaccrual status), interest income is reversed. The Bancorp follows established policies for placing loans on nonaccrual status, so uncollectible accrued interest receivable is reversed in a timely manner. As a result, the Bancorp has elected not to measure a reserve for accrued interest receivable as part of its ALLL. However, the Bancorp does record a reserve for the portion of accrued interest receivable that it expects to be uncollectible. Credit losses are charged and recoveries are credited to the ALLL. The ALLL is maintained at a level the Bancorp considers to be adequate and is based on ongoing quarterly assessments and evaluations of the collectability of loans and leases, including historical credit loss experience, current and forecasted market and economic conditions and consideration of various qualitative factors that, in management’s judgment, deserve consideration in estimating expected credit losses. Provisions for credit losses are recorded for the amounts necessary to adjust the ALLL to the Bancorp’s current estimate of expected credit losses on portfolio loans and leases. The Bancorp’s methodology for determining the ALLL includes an estimate of expected credit losses on a collective basis for groups of loans and leases with similar risk characteristics and specific allowances for loans and leases which are individually evaluated. Larger commercial loans and leases included within aggregate borrower relationship balances exceeding $1 million on nonaccrual status are individually evaluated for an ALLL. The Bancorp considers the current value of collateral, credit quality of any guarantees, the guarantor’s liquidity and willingness to cooperate, the loan or lease structure (including modifications, if any) and other factors when determining the amount of the ALLL. Other factors may include the borrower’s susceptibility to risks presented by the forecasted macroeconomic environment, the industry and geographic region of the borrower, size and financial condition of the borrower, cash flow and leverage of the borrower and the Bancorp’s evaluation of the borrower’s management. When loans and leases are individually evaluated, allowances are determined based on management’s estimate of the borrower’s ability to repay the loan or lease given the availability of collateral and other sources of cash flow, as well as an evaluation of legal options available to the Bancorp. Allowances for individually evaluated loans and leases that are collateral-dependent are measured based on the fair value of the underlying collateral, less expected costs to sell where applicable. Individually evaluated loans and leases that are not collateral-dependent are measured based on the observable market value of the loan or lease or the present value of its expected cash flows discounted at the loan’s effective interest rate. Specific allowances on individually evaluated commercial loans and leases are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience. The Bancorp considers loans to be collateral-dependent when it becomes probable that repayment of the loan will be provided through the sale or operation of the collateral instead of from payments made by the borrower. The expected credit losses for these loans are typically estimated based on the fair value of the underlying collateral, less expected costs to sell where applicable. Specific allowances on individually evaluated consumer and residential mortgage loans are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience. Expected credit losses are estimated on a collective basis for loans and leases that are not individually evaluated. For collectively evaluated loans and leases, the Bancorp uses models to forecast expected credit losses based on the probability of a loan or lease defaulting, the expected balance at the estimated date of default and the expected loss percentage given a default. The estimate of the expected balance at the time of default considers prepayments and, for loans with available credit, expected utilization rates. The Bancorp’s expected credit loss models were developed based on historical credit loss experience and observations of migration patterns for various credit risk characteristics (such as internal credit risk grades, external credit ratings or scores, delinquency status, loan-to-value trends, etc.) over time, with those observations evaluated in the context of concurrent macroeconomic conditions. The Bancorp developed its models from historical observations capturing a full economic cycle when possible. The Bancorp’s expected credit loss models consider historical credit loss experience, current market and economic conditions, and forecasted changes in market and economic conditions if such forecasts are considered reasonable and supportable. Generally, the Bancorp considers its forecasts to be reasonable and supportable for a period of up to three years from the estimation date. For periods beyond the reasonable and supportable forecast period, expected credit losses are estimated by reverting to historical loss information without adjustment for changes in economic conditions. This reversion is phased in over a two-year period. The Bancorp evaluates the length of its reasonable and supportable forecast period, its reversion period and reversion methodology at least annually, or more often if warranted by economic conditions or other circumstances. The Bancorp also considers qualitative factors in determining the ALLL. Qualitative factors are used to capture characteristics in the portfolio that impact expected credit losses but that are not fully captured within the Bancorp’s expected credit loss models. These include adjustments for changes in policies or procedures in underwriting, monitoring or collections, lending and risk management personnel and results of internal audit and quality control reviews. These may also include adjustments, when deemed necessary, for specific idiosyncratic risks such as geopolitical events, natural disasters and their effects on regional borrowers, and changes in product structures. Qualitative factors may also be used to address the impacts of unforeseen events on key inputs and assumptions within the Bancorp’s expected credit loss models, such as the reasonable and supportable forecast period, changes to historical loss information or changes to the reversion period or methodology. When evaluating the adequacy of allowances, consideration is also given to regional geographic concentrations and the closely associated effect that changing economic conditions may have on the Bancorp’s customers.

Investment Securities

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investment Securities

The following tables provide the amortized cost, unrealized gains and losses and fair value for the major categories of the available-for-sale debt and other securities and held-to-maturity securities portfolios as of:


March 31, 2023 ($ in millions)	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,828	1	(140)	2,689
Obligations of states and political subdivisions securities	3		—	—	3
Mortgage-backed securities:
Agency residential mortgage-backed securities	12,246		6	(1,179)	11,073
Agency commercial mortgage-backed securities	29,231		10	(3,058)	26,183
Non-agency commercial mortgage-backed securities	5,057		—	(507)	4,550
Asset-backed securities and other debt securities	5,703		2	(374)	5,331
Other securities(a)	890		—	—	890
Total available-for-sale debt and other securities	$	55,958	19	(5,258)	50,719
Held-to-maturity securities:
Asset-backed securities and other debt securities	$	2	—	—	2
Total held-to-maturity securities	$	2	—	—	2

(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $396, $491 and $3, respectively, at March 31, 2023, that are carried at cost.


December 31, 2022 ($ in millions)	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,683	—	(188)	2,495
Obligations of states and political subdivisions securities	18		—	—	18
Mortgage-backed securities:
Agency residential mortgage-backed securities	12,604		5	(1,372)	11,237
Agency commercial mortgage-backed securities	29,824		11	(3,513)	26,322
Non-agency commercial mortgage-backed securities	5,235		—	(520)	4,715
Asset-backed securities and other debt securities	6,292		3	(453)	5,842
Other securities(a)	874		—	—	874
Total available-for-sale debt and other securities	$	57,530	19	(6,046)	51,503
Held-to-maturity securities:
Obligations of states and political subdivisions securities	$	3	—	—	3
Asset-backed securities and other debt securities	2		—	—	2
Total held-to-maturity securities	$	5	—	—	5

(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $381, $491 and $2, respectively, at December 31, 2022, that are carried at cost.

The following table provides the fair value of trading debt securities and equity securities as of:


($ in millions)	March 31, 2023		December 31, 2022
Trading debt securities	$	1,174	414
Equity securities	323		317

The amounts reported in the preceding tables exclude accrued interest receivable on investment securities of $137 million and $131 million at March 31, 2023 and December 31, 2022, respectively, which is presented as a component of other assets in the Condensed Consolidated Balance Sheets.

The Bancorp uses investment securities as a means of managing interest rate risk, providing collateral for pledging purposes and for liquidity risk management. As part of managing interest rate risk, the Bancorp acquires securities as a component of its MSR non-qualifying hedging strategy, with net gains or losses recorded in securities losses, net – non-qualifying hedges on mortgage servicing rights in the Condensed Consolidated Statements of Income.

The following table presents the components of net securities gains and losses recognized in the Condensed Consolidated Statements of Income, including those recognized related to the Bancorp’s non-qualifying hedging strategy for MSRs:


	For the three months ended March 31,
($ in millions)	2023		2022
Available-for-sale debt and other securities:
Realized gains	$	29	3
Realized losses	(29)		—

Net realized gains on available-for-sale debt and other securities	$	—	3
Trading debt securities:
Net realized losses	—		(1)
Net unrealized gains	—		11
Net trading debt securities gains	$	—	10
Equity securities:
Net realized gains	—		1
Net unrealized gains (losses)	4		(29)
Net equity securities gains (losses)	$	4	(28)
Total gains (losses) recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities(a)	$	4	(15)

(a)Excludes $1 of net securities gains and $3 of net securities losses for the three months ended March 31, 2023 and 2022, respectively, related to securities held by FTS to facilitate the timely execution of customer transactions. These losses are included in commercial banking revenue and wealth and asset management revenue in the Condensed Consolidated Statements of Income.

At both March 31, 2023 and December 31, 2022, the Bancorp completed its evaluation of the available-for-sale debt and other securities in an unrealized loss position and did not recognize an allowance for credit losses. The Bancorp did not recognize provision expense related to available-for-sale debt and other securities in an unrealized loss position during both the three months ended March 31, 2023 and 2022.

At March 31, 2023 and December 31, 2022, investment securities with a fair value of $21.1 billion and $11.0 billion, respectively, were pledged to secure borrowing capacity, public deposits, trust funds, derivative contracts and for other purposes as required or permitted by law.

The expected maturity distribution of the Bancorp’s mortgage-backed securities and the contractual maturity distribution of the remainder of the Bancorp’s available-for-sale debt and other securities and held-to-maturity securities as of March 31, 2023 are shown in the following table:


($ in millions)	Available-for-Sale Debt and Other			Held-to-Maturity
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Debt securities:(a)
Due in 1 year or less	$	136	133	—	—
Due after 1 year through 5 years	13,519		12,697	—	—
Due after 5 years through 10 years	30,863		27,727	—	—
Due after 10 years	10,550		9,272	2	2
Other securities	890		890	—	—
Total	$	55,958	50,719	2	2

(a)Actual maturities may differ from contractual maturities when a right to call or prepay obligations exists with or without call or prepayment penalties.

The following table provides the fair value and gross unrealized losses on available-for-sale debt and other securities in an unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of:


	Less than 12 months			12 months or more		Total
($ in millions)	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses
March 31, 2023
U.S. Treasury and federal agencies securities	$	863	(15)	1,622	(125)	2,485	(140)
Obligations of states and political subdivisions securities	—		—	1	—	1	—
Agency residential mortgage-backed securities	4,293		(291)	6,616	(888)	10,909	(1,179)
Agency commercial mortgage-backed securities	12,883		(1,047)	12,881	(2,011)	25,764	(3,058)
Non-agency commercial mortgage-backed securities	788		(43)	3,761	(464)	4,549	(507)
Asset-backed securities and other debt securities	1,529		(42)	3,630	(332)	5,159	(374)
Total	$	20,356	(1,438)	28,511	(3,820)	48,867	(5,258)
December 31, 2022
U.S. Treasury and federal agencies securities	$	2,400	(188)	—	—	2,400	(188)
Obligations of states and political subdivisions securities	—		—	1	—	1	—
Agency residential mortgage-backed securities	10,078		(1,170)	938	(202)	11,016	(1,372)
Agency commercial mortgage-backed securities	22,083		(2,487)	3,697	(1,026)	25,780	(3,513)
Non-agency commercial mortgage-backed securities	3,621		(272)	1,059	(248)	4,680	(520)
Asset-backed securities and other debt securities	3,164		(178)	2,495	(275)	5,659	(453)
Total	$	41,346	(4,295)	8,190	(1,751)	49,536	(6,046)

At March 31, 2023 and December 31, 2022, $20 million and $42 million, respectively, of unrealized losses in the available-for-sale debt and other securities portfolio were related to non-rated securities.

Loans and Leases

3 Months Ended

Mar. 31, 2023

Loans and Leases

The Bancorp diversifies its loan and lease portfolio by offering a variety of loan and lease products with various payment terms and rate structures. The Bancorp’s commercial loan and lease portfolio consists of lending to various industry types. Management periodically reviews the performance of its loan and lease products to evaluate whether they are performing within acceptable interest rate and credit risk levels and changes are made to underwriting policies and procedures as needed. The Bancorp maintains an allowance to absorb loan and lease losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. For further information on credit quality and the ALLL, refer to Note 6.

The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of:


($ in millions)	March 31, 2023		December 31, 2022
Loans and leases held for sale:
Commercial and industrial loans	$	21	73


Commercial leases	3		—
Residential mortgage loans	725		934
Total loans and leases held for sale	$	749	1,007
Portfolio loans and leases:
Commercial and industrial loans	$	57,720	57,232
Commercial mortgage loans	11,228		11,020
Commercial construction loans	5,548		5,433
Commercial leases	2,743		2,704
Total commercial loans and leases	$	77,239	76,389
Residential mortgage loans	$	17,608	17,628
Home equity	3,958		4,039
Indirect secured consumer loans	16,484		16,552
Credit card	1,761		1,874
Other consumer loans	5,807		4,998
Total consumer loans	$	45,618	45,091
Total portfolio loans and leases	$	122,857	121,480

Portfolio loans and leases are recorded net of unearned income, which totaled $262 million and $238 million as of March 31, 2023 and December 31, 2022, respectively. Additionally, portfolio loans and leases are recorded net of unamortized premiums and discounts, deferred direct loan origination fees and costs and fair value adjustments (associated with acquired loans or loans designated as fair value upon origination) which totaled a net discount of $51 million and net premium of $146 million as of March 31, 2023 and December 31, 2022, respectively. The amortized cost basis of loans and leases excludes accrued interest receivable of $548 million and $518 million at March 31, 2023 and December 31, 2022, respectively, which is presented as a component of other assets in the Condensed Consolidated Balance Sheets.

The Bancorp’s FHLB and FRB borrowings are primarily secured by loans. The Bancorp had loans of $15.8 billion and $15.9 billion as of March 31, 2023 and December 31, 2022, respectively, pledged to the FHLB, and loans of $56.1 billion and $57.1 billion at March 31, 2023 and December 31, 2022, respectively, pledged to the FRB.

The following table presents a summary of the total loans and leases owned by the Bancorp as of:


	Carrying Value			90 Days Past Due and Still Accruing(a)
($ in millions)	March 31, 2023		December 31, 2022	March 31, 2023	December 31, 2022
Commercial and industrial loans	$	57,741	57,305	17	11
Commercial mortgage loans	11,228		11,020	—	—
Commercial construction loans	5,548		5,433	—	—
Commercial leases	2,746		2,704	—	2
Residential mortgage loans	18,333		18,562	9	7
Home equity	3,958		4,039	1	1
Indirect secured consumer loans	16,484		16,552	—	—
Credit card	1,761		1,874	18	18
Other consumer loans	5,807		4,998	1	1
Total loans and leases	$	123,606	122,487	46	40
Less: Loans and leases held for sale	749		1,007
Total portfolio loans and leases	$	122,857	121,480

(a)Excludes government guaranteed residential mortgage loans.

The following table presents a summary of net charge-offs (recoveries):


	For the three months ended March 31,
($ in millions)	2023		2022
Commercial and industrial loans	$	30	9
Commercial mortgage loans	—		(1)
Commercial construction loans	1		—

Residential mortgage loans	—		(1)
Home equity	—		(1)
Indirect secured consumer loans	14		7
Credit card	15		13
Other consumer loans	18		8
Total net charge-offs	$	78	34

The following table presents the components of the net investment in portfolio leases as of:


($ in millions)(a)	March 31, 2023		December 31, 2022
Net investment in direct financing leases:
Lease payment receivable (present value)	$	582	570
Unguaranteed residual assets (present value)	109		107

Net investment in sales-type leases:
Lease payment receivable (present value)	1,728		1,704
Unguaranteed residual assets (present value)	76		76

(a)Excludes $248 and $247 of leveraged leases at March 31, 2023 and December 31, 2022, respectively.

Interest income recognized in the Condensed Consolidated Statements of Income for the three months ended March 31, 2023 and 2022 was $6 million and $8 million, respectively, for direct financing leases and $15 million and $11 million, respectively, for sales-type leases.

The following table presents undiscounted cash flows for both direct financing and sales-type leases for the remainder of 2023 through 2028 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:


As of March 31, 2023 ($ in millions)	Direct Financing Leases		Sales-Type Leases
Remainder of 2023	$	145	388
2024	159		471
2025	113		409
2026	95		239
2027	58		177
2028	18		108
Thereafter	37		82
Total undiscounted cash flows	$	625	1,874
Less: Difference between undiscounted cash flows and discounted cash flows	43		146
Present value of lease payments (recognized as lease receivables)	$	582	1,728

The lease residual value represents the present value of the estimated fair value of the leased equipment at the end of the lease. The Bancorp performs quarterly reviews of residual values associated with its leasing portfolio considering factors such as the subject equipment, structure of the transaction, industry, prior experience with the lessee and other factors that impact the residual value to assess for impairment. The Bancorp maintained an allowance of $18 million and $15 million at March 31, 2023 and December 31, 2022, respectively, to cover the losses that are expected to be incurred over the remaining contractual terms of the related leases, including the potential losses related to the lease residual value. Refer to Note 6 for additional information on credit quality and the ALLL.

Credit Quality and the Allowance for Loan and Lease Losses

3 Months Ended

Mar. 31, 2023

Credit Quality and the Allowance for Loan and Lease Losses

The Bancorp disaggregates ALLL balances and transactions in the ALLL by portfolio segment. Credit quality related disclosures for loans and leases are further disaggregated by class.

Allowance for Loan and Lease Losses

The following tables summarize transactions in the ALLL by portfolio segment:


For the three months ended March 31, 2023 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,127	245	822	2,194
Impact of adoption of ASU 2022-02	4		(36)	(17)	(49)
Losses charged off(a)	(33)		(1)	(76)	(110)
Recoveries of losses previously charged off(a)	2		1	29	32
Provision for (benefit from) loan and lease losses	43		(24)	129	148
Balance, end of period	$	1,143	185	887	2,215

(a)The Bancorp recorded $9 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.


For the three months ended March 31, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,102	235	555	1,892
Losses charged off(a)	(11)		(1)	(52)	(64)
Recoveries of losses previously charged off(a)	3		2	25	30
Benefit from loan and lease losses	16		3	31	50
Balance, end of period	$	1,110	239	559	1,908

(a)The Bancorp recorded $8 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

The following tables provide a summary of the ALLL and related loans and leases classified by portfolio segment:


As of March 31, 2023 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	78	—	2	80
Collectively evaluated	1,065		185	885	2,135
Total ALLL	$	1,143	185	887	2,215
Portfolio loans and leases:(b)
Individually evaluated	$	319	92	49	460
Collectively evaluated	76,920		17,388	27,961	122,269
Total portfolio loans and leases	$	77,239	17,480	28,010	122,729

(a)Includes $2 related to commercial leveraged leases at March 31, 2023.

(b)Excludes $128 of residential mortgage loans measured at fair value and includes $248 of commercial leveraged leases, net of unearned income at March 31, 2023.


As of December 31, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	30	47	45	122
Collectively evaluated	1,097		198	777	2,072
Total ALLL	$	1,127	245	822	2,194
Portfolio loans and leases:(b)
Individually evaluated	$	531	560	297	1,388
Collectively evaluated	75,858		16,945	27,166	119,969

Total portfolio loans and leases	$	76,389	17,505	27,463	121,357

(a)Includes $2 related to commercial leveraged leases at December 31, 2022.

(b)Excludes $123 of residential mortgage loans measured at fair value and includes $247 of commercial leveraged leases, net of unearned income at December 31, 2022.

CREDIT RISK PROFILE

Commercial Portfolio Segment

For purposes of monitoring the credit quality and risk characteristics of its commercial portfolio segment, the Bancorp disaggregates the segment into the following classes: commercial and industrial, commercial mortgage owner-occupied, commercial mortgage nonowner-occupied, commercial construction and commercial leases.

To facilitate the monitoring of credit quality within the commercial portfolio segment, the Bancorp utilizes the following categories of credit grades: pass, special mention, substandard, doubtful and loss. The five categories, which are derived from standard regulatory rating definitions, are assigned upon initial approval of credit to borrowers and updated periodically thereafter.

Pass ratings, which are assigned to those borrowers that do not have identified potential or well-defined weaknesses and for which there is a high likelihood of orderly repayment, are updated at least annually based on the size and credit characteristics of the borrower. All other categories are updated on a quarterly basis during the month preceding the end of the calendar quarter.

The Bancorp assigns a special mention rating to loans and leases that have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the loan or lease or the Bancorp’s credit position.

The Bancorp assigns a substandard rating to loans and leases that are inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged. Substandard loans and leases have well-defined weaknesses or weaknesses that could jeopardize the orderly repayment of the debt. Loans and leases in this grade also are characterized by the distinct possibility that the Bancorp will sustain some loss if the deficiencies noted are not addressed and corrected.

The Bancorp assigns a doubtful rating to loans and leases that have all the attributes of a substandard rating with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonable specific pending factors that may work to the advantage of and strengthen the credit quality of the loan or lease, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors may include a proposed merger or acquisition, liquidation proceeding, capital injection, perfecting liens on additional collateral or refinancing plans.

Loans and leases classified as loss are considered uncollectible and are charged off in the period in which they are determined to be uncollectible. Because loans and leases in this category are fully charged off, they are not included in the following tables.

For loans and leases that are collectively evaluated for an ACL, the Bancorp utilizes models to forecast expected credit losses over a reasonable and supportable forecast period based on the probability of a loan or lease defaulting, the expected balance at the estimated date of default and the expected loss percentage given a default. For the commercial portfolio segment, the estimates for probability of default are primarily based on internal ratings assigned to each commercial borrower on a 13-point scale and historical observations of how those ratings migrate to a default over time in the context of macroeconomic conditions. For loans with available credit, the estimate of the expected balance at the time of default considers expected utilization rates, which are primarily based on macroeconomic conditions and the utilization history of similar borrowers under those economic conditions. The estimates for loss severity are primarily based on collateral type and coverage levels and the susceptibility of those characteristics to changes in macroeconomic conditions. For more information about the Bancorp’s processes for developing these models, estimating credit losses for periods beyond the reasonable and supportable forecast period and for estimating credit losses for individually evaluated loans, refer to Note 3.

The following tables present the amortized cost basis of the Bancorp’s commercial portfolio segment, by class and vintage, disaggregated by credit risk grade:


As of March 31, 2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Commercial and industrial loans:
Pass	$	805	4,364	2,673	885	402	648	44,136	—	53,913
Special mention	7		44	11	8	36	36	1,414	—	1,556
Substandard	76		121	58	218	25	108	1,630	—	2,236
Doubtful	—		—	2	—	—	—	13	—	15
Total commercial and industrial loans	$	888	4,529	2,744	1,111	463	792	47,193	—	57,720
Commercial mortgage owner-occupied loans:
Pass	$	240	1,139	754	477	248	369	1,743	—	4,970
Special mention	12		14	29	3	2	12	22	—	94
Substandard	25		20	21	17	71	37	140	—	331
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner- occupied loans	$	277	1,173	804	497	321	418	1,905	—	5,395
Commercial mortgage nonowner-occupied loans:
Pass	$	165	1,087	447	474	393	345	2,508	—	5,419
Special mention	47		—	32	26	—	2	139	—	246
Substandard	27		30	24	18	1	17	51	—	168
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	239	1,117	503	518	394	364	2,698	—	5,833
Commercial construction loans:
Pass	$	14	73	31	87	8	34	4,980	—	5,227
Special mention	—		—	33	—	—	—	147	—	180
Substandard	4		49	—	—	—	2	86	—	141
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	18	122	64	87	8	36	5,213	—	5,548
Commercial leases:
Pass	$	271	495	606	280	186	799	—	—	2,637
Special mention	—		3	9	4	2	16	—	—	34
Substandard	7		5	15	2	3	40	—	—	72
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	278	503	630	286	191	855	—	—	2,743
Total commercial loans and leases:
Pass	$	1,495	7,158	4,511	2,203	1,237	2,195	53,367	—	72,166
Special mention	66		61	114	41	40	66	1,722	—	2,110
Substandard	139		225	118	255	100	204	1,907	—	2,948
Doubtful	—		—	2	—	—	—	13	—	15
Total commercial loans and leases	$	1,700	7,444	4,745	2,499	1,377	2,465	57,009	—	77,239


As of December 31, 2022 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2022		2021	2020	2019	2018	Prior			Total
Commercial and industrial loans:
Pass	$	3,825	3,098	994	445	269	488	44,521	—	53,640
Special mention	65		24	15	36	10	24	1,221	—	1,395
Substandard	150		77	233	26	7	107	1,597	—	2,197
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial and industrial loans	$	4,040	3,199	1,242	507	286	619	47,339	—	57,232
Commercial mortgage owner-occupied loans:
Pass	$	1,177	826	522	257	160	264	1,624	—	4,830
Special mention	17		15	13	12	13	2	56	—	128
Substandard	51		14	20	73	11	25	106	—	300
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner-occupied loans	$	1,245	855	555	342	184	291	1,786	—	5,258
Commercial mortgage nonowner-occupied loans:
Pass	$	1,127	462	490	397	220	170	2,453	—	5,319
Special mention	1		84	26	—	—	23	88	—	222
Substandard	65		19	18	1	1	17	100	—	221
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	1,193	565	534	398	221	210	2,641	—	5,762
Commercial construction loans:
Pass	$	82	31	93	8	35	7	4,684	—	4,940
Special mention	—		—	—	—	—	—	293	—	293
Substandard	53		—	—	—	—	2	145	—	200
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	135	31	93	8	35	9	5,122	—	5,433
Commercial leases:
Pass	$	584	664	306	192	146	696	—	—	2,588
Special mention	—		4	2	4	7	19	—	—	36
Substandard	1		20	2	4	21	32	—	—	80
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	585	688	310	200	174	747	—	—	2,704
Total commercial loans and leases:
Pass	$	6,795	5,081	2,405	1,299	830	1,625	53,282	—	71,317
Special mention	83		127	56	52	30	68	1,658	—	2,074
Substandard	320		130	273	104	40	183	1,948	—	2,998
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial loans and leases	$	7,198	5,338	2,734	1,455	900	1,876	56,888	—	76,389

The following table summarizes the Bancorp’s gross charge-offs within the commercial portfolio segment, by class and vintage:


For the three months ended March 31, 2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Commercial loans and leases:
Commercial and industrial loans	$	—	1	11	—	—	—	20	—	32


Commercial construction loans	—		—	—	—	—	—	1	—	1

Total commercial loans and leases	$	—	1	11	—	—	—	21	—	33

Age Analysis of Past Due Commercial Loans and Leases

The following tables summarize the Bancorp’s amortized cost basis in portfolio commercial loans and leases, by age and class:


	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of March 31, 2023 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	57,549	109	62	171	57,720	17
Commercial mortgage owner-occupied loans	5,386		6	3	9	5,395	—
Commercial mortgage nonowner-occupied loans	5,832		1	—	1	5,833	—
Commercial construction loans	5,541		2	5	7	5,548	—
Commercial leases	2,723		16	4	20	2,743	—
Total portfolio commercial loans and leases	$	77,031	134	74	208	77,239	17

(a)Includes accrual and nonaccrual loans and leases.


	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of December 31, 2022 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	57,092	98	42	140	57,232	11
Commercial mortgage owner-occupied loans	5,241		14	3	17	5,258	—
Commercial mortgage nonowner-occupied loans	5,756		6	—	6	5,762	—
Commercial construction loans	5,424		7	2	9	5,433	—
Commercial leases	2,698		4	2	6	2,704	2
Total portfolio commercial loans and leases	$	76,211	129	49	178	76,389	13

(a)Includes accrual and nonaccrual loans and leases.

Residential Mortgage and Consumer Portfolio Segments

For purposes of monitoring the credit quality and risk characteristics of its consumer portfolio segment, the Bancorp disaggregates the segment into the following classes: home equity, indirect secured consumer loans, credit card and other consumer loans. The Bancorp’s residential mortgage portfolio segment is also a separate class.

The Bancorp considers repayment performance as the best indicator of credit quality for residential mortgage and consumer loans, which includes both the delinquency status and performing versus nonperforming status of the loans. The delinquency status of all residential mortgage and consumer loans and the performing versus nonperforming status are presented in the following tables.

For collectively evaluated loans in the consumer and residential mortgage portfolio segments, the Bancorp’s expected credit loss models primarily utilize the borrower’s FICO score and delinquency history in combination with macroeconomic conditions when estimating the probability of default. The estimates for loss severity are primarily based on collateral type and coverage levels and the susceptibility of those characteristics to changes in macroeconomic conditions. The expected balance at the estimated date of default is also especially impactful in the expected credit loss models for portfolio classes which generally have longer terms (such as residential mortgage loans and home equity) and portfolio classes containing a high concentration of loans with revolving privileges (such as home equity). The estimate of the expected balance at the time of default considers expected prepayment and utilization rates where applicable, which are primarily based on macroeconomic conditions and the utilization history of similar borrowers under those economic conditions. Refer to Note 3 for additional information about the Bancorp’s process for developing these models and its process for estimating credit losses for periods beyond the reasonable and supportable forecast period.

The following tables present the amortized cost basis of the Bancorp’s residential mortgage and consumer portfolio segments, by class and vintage, disaggregated by both age and performing versus nonperforming status:


As of March 31, 2023 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	249	3,222	5,355	2,931	1,028	4,543	—	—	17,328
30-89 days past due	—		1	2	3	1	10	—	—	17
90 days or more past due	—		1	2	—	1	5	—	—	9
Total performing	249		3,224	5,359	2,934	1,030	4,558	—	—	17,354
Nonperforming	—		1	3	4	4	114	—	—	126
Total residential mortgage loans(b)	$	249	3,225	5,362	2,938	1,034	4,672	—	—	17,480
Home equity:
Performing:
Current	$	14	45	3	7	14	106	3,663	14	3,866
30-89 days past due	—		—	—	—	—	2	21	—	23
90 days or more past due	—		—	—	—	—	1	—	—	1
Total performing	14		45	3	7	14	109	3,684	14	3,890
Nonperforming	—		—	—	—	—	7	60	1	68
Total home equity	$	14	45	3	7	14	116	3,744	15	3,958
Indirect secured consumer loans:
Performing:
Current	$	1,595	5,526	5,355	2,302	1,041	528	—	—	16,347
30-89 days past due	2		32	33	19	14	10	—	—	110
90 days or more past due	—		—	—	—	—	—	—	—	—
Total performing	1,597		5,558	5,388	2,321	1,055	538	—	—	16,457
Nonperforming	—		5	5	7	5	5	—	—	27
Total indirect secured consumer loans	$	1,597	5,563	5,393	2,328	1,060	543	—	—	16,484
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,696	—	1,696
30-89 days past due	—		—	—	—	—	—	18	—	18
90 days or more past due	—		—	—	—	—	—	18	—	18
Total performing	—		—	—	—	—	—	1,732	—	1,732
Nonperforming	—		—	—	—	—	—	29	—	29
Total credit card	$	—	—	—	—	—	—	1,761	—	1,761
Other consumer loans:
Performing:
Current	$	722	2,928	481	323	149	229	903	31	5,766
30-89 days past due	—		19	5	2	2	3	3	—	34
90 days or more past due	—		1	—	—	—	—	—	—	1
Total performing	722		2,948	486	325	151	232	906	31	5,801
Nonperforming	—		3	1	—	—	1	1	—	6
Total other consumer loans	$	722	2,951	487	325	151	233	907	31	5,807
Total residential mortgage and consumer loans:
Performing:
Current	$	2,580	11,721	11,194	5,563	2,232	5,406	6,262	45	45,003
30-89 days past due	2		52	40	24	17	25	42	—	202
90 days or more past due	—		2	2	—	1	6	18	—	29
Total performing	2,582		11,775	11,236	5,587	2,250	5,437	6,322	45	45,234
Nonperforming	—		9	9	11	9	127	90	1	256
Total residential mortgage and consumer loans(b)	$	2,582	11,784	11,245	5,598	2,259	5,564	6,412	46	45,490

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of March 31, 2023, $76 of these loans were 30-89 days past due and $154 were 90 days or more past due. The Bancorp recognized an immaterial amount of losses during the three months ended March 31, 2023, due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $128 of residential mortgage loans measured at fair value at March 31, 2023, including $3 of nonperforming loans.


As of December 31, 2022 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2022		2021	2020	2019	2018	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	3,195	5,440	2,981	1,051	344	4,336	—	—	17,347
30-89 days past due	4		4	3	1	2	15	—	—	29
90 days or more past due	—		—	1	—	1	5	—	—	7
Total performing	3,199		5,444	2,985	1,052	347	4,356	—	—	17,383
Nonperforming	—		3	4	4	7	104	—	—	122
Total residential mortgage loans(b)	$	3,199	5,447	2,989	1,056	354	4,460	—	—	17,505
Home equity:
Performing:
Current	$	46	3	7	15	17	94	3,741	18	3,941
30-89 days past due	—		—	—	—	—	2	28	—	30
90 days or more past due	—		—	—	—	—	1	—	—	1
Total performing	46		3	7	15	17	97	3,769	18	3,972
Nonperforming	—		—	—	—	—	8	58	1	67
Total home equity	$	46	3	7	15	17	105	3,827	19	4,039
Indirect secured consumer loans:
Performing:
Current	$	6,034	5,875	2,600	1,217	416	239	—	—	16,381
30-89 days past due	34		42	28	22	11	5	—	—	142
90 days or more past due	—		—	—	—	—	—	—	—	—
Total performing	6,068		5,917	2,628	1,239	427	244	—	—	16,523
Nonperforming	4		6	7	6	4	2	—	—	29
Total indirect secured consumer loans	$	6,072	5,923	2,635	1,245	431	246	—	—	16,552
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,808	—	1,808
30-89 days past due	—		—	—	—	—	—	21	—	21
90 days or more past due	—		—	—	—	—	—	18	—	18
Total performing	—		—	—	—	—	—	1,847	—	1,847
Nonperforming	—		—	—	—	—	—	27	—	27
Total credit card	$	—	—	—	—	—	—	1,874	—	1,874
Other consumer loans:
Performing:
Current	$	2,704	540	355	169	112	146	908	26	4,960
30-89 days past due	14		6	3	2	2	2	3	—	32
90 days or more past due	—		—	—	—	—	—	1	—	1
Total performing	2,718		546	358	171	114	148	912	26	4,993
Nonperforming	2		1	—	—	—	1	1	—	5
Total other consumer loans	$	2,720	547	358	171	114	149	913	26	4,998
Total residential mortgage and consumer loans:
Performing:
Current	$	11,979	11,858	5,943	2,452	889	4,815	6,457	44	44,437
30-89 days past due	52		52	34	25	15	24	52	—	254
90 days or more past due	—		—	1	—	1	6	19	—	27
Total performing	12,031		11,910	5,978	2,477	905	4,845	6,528	44	44,718
Nonperforming	6		10	11	10	11	115	86	1	250
Total residential mortgage and consumer loans(b)	$	12,037	11,920	5,989	2,487	916	4,960	6,614	45	44,968

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2022, $81 of these loans were 30-89 days past due and $147 were 90 days or more past due. The Bancorp recognized $1 of losses during the three months ended March 31, 2022 due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $123 of residential mortgage loans measured at fair value at December 31, 2022, including $1 of 30-89 days past due loans and $2 of nonperforming loans.

The following table summarizes the Bancorp’s gross charge-offs within the residential mortgage and consumer portfolio segments, by class and vintage:


For the three months ended March 31, 2023 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Residential mortgage loans	$	—	—	—	—	—	1	—	—	1
Consumer loans:
Home equity	—		—	—	—	—	—	1	—	1
Indirect secured consumer loans	—		8	6	4	3	2	—	—	23
Credit cards	—		—	—	—	—	20	—	—	20
Other consumer loans	—		10	5	3	2	3	8	1	32
Total residential mortgage and consumer loans	$	—	18	11	7	5	26	9	1	77

Collateral-Dependent Loans and Leases

The Bancorp considers a loan or lease to be collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. When a loan or lease is collateral-dependent, its fair value is generally based on the fair value less cost to sell of the underlying collateral.

The following table presents the amortized cost basis of the Bancorp’s collateral-dependent loans and leases, by portfolio class, as of:


($ in millions)	March 31, 2023		December 31, 2022
Commercial loans and leases:
Commercial and industrial loans	$	276	433
Commercial mortgage owner-occupied loans	12		14
Commercial mortgage nonowner-occupied loans	21		27
Commercial construction loans	5		56
Commercial leases	5		1
Total commercial loans and leases	$	319	531
Residential mortgage loans	92		57
Consumer loans:
Home equity	43		46
Indirect secured consumer loans	6		6

Total consumer loans	$	49	52
Total portfolio loans and leases	$	460	640

Nonperforming Assets

Nonperforming assets include nonaccrual loans and leases for which ultimate collectability of the full amount of the principal and/or interest is uncertain and certain other assets, including OREO and other repossessed property.

The following table presents the amortized cost basis of the Bancorp’s nonaccrual loans and leases, by class, and OREO and other repossessed property as of:


	March 31, 2023				December 31, 2022
($ in millions)	With an ALLL		No Related ALLL	Total	With an ALLL	No Related ALLL	Total
Commercial loans and leases:
Commercial and industrial loans	$	239	41	280	114	101	215
Commercial mortgage owner-occupied loans	11		11	22	9	7	16
Commercial mortgage nonowner-occupied loans	18		4	22	20	4	24
Commercial construction loans	3		2	5	6	2	8
Commercial leases	4		1	5	—	—	—
Total nonaccrual portfolio commercial loans and leases	$	275	59	334	149	114	263
Residential mortgage loans	92		37	129	81	43	124
Consumer loans:
Home equity	55		13	68	45	22	67
Indirect secured consumer loans	26		1	27	26	3	29
Credit card	29		—	29	27	—	27
Other consumer loans	6		—	6	5	—	5
Total nonaccrual portfolio consumer loans	$	116	14	130	103	25	128
Total nonaccrual portfolio loans and leases(a)(b)	$	483	110	593	333	182	515
OREO and other repossessed property	—		30	30	—	24	24
Total nonperforming portfolio assets(a)(b)	$	483	140	623	333	206	539

(a)Excludes an immaterial amount of nonaccrual loans held for sale as of both March 31, 2023 and December 31, 2022.

(b)Includes $17 and $15 of nonaccrual government insured commercial loans whose repayments are insured by the SBA as of March 31, 2023 and December 31, 2022, respectively.

The Bancorp recognized an immaterial amount of interest income on nonaccrual loans and leases for both the three months ended March 31, 2023 and 2022.

The Bancorp’s amortized cost basis of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction was $175 million and $154 million as of March 31, 2023 and December 31, 2022, respectively.

Modifications to Borrowers Experiencing Financial Difficulty

On January 1, 2023, the Bancorp adopted ASU 2022-02, which eliminated the recognition and measurement guidance for TDRs. The amended accounting and disclosure requirements are applicable to loan modifications to borrowers experiencing financial difficulty which are completed on or after the adoption date. For further information on the adoption of ASU 2022-02, refer to Note 3.

In the course of servicing its loans, the Bancorp works with borrowers who are experiencing financial difficulty to identify solutions that are mutually beneficial to both parties with the objective of mitigating the risk of losses on the loan. These efforts often result in modifications to the payment terms of the loan. The types of modifications offered to borrowers vary by type of loan and may include term extensions, interest rate reductions, payment delays (other than those that are insignificant) or combinations thereof. The Bancorp typically does not provide principal forgiveness except in circumstances where the loan has already been fully or partially charged off.

The Bancorp applies its expected credit loss models consistently to both modified and non-modified loans when estimating the ALLL. For loans which are modified for borrowers experiencing financial difficulty, there is generally not a significant change to the ALLL upon modification because the Bancorp’s ALLL estimation methodologies already consider those borrowers’ financial difficulties and the resulting effects of potential modifications when estimating expected credit losses.

As of March 31, 2023, portfolio loans with an amortized cost basis of $202 million, or 0.16% of total portfolio loans and leases, were modified during the three months ended March 31, 2023 for borrowers experiencing financial difficulty, as further discussed in the following sections. This amount excludes $13 million of consumer and residential mortgage loans as of March 31, 2023 which have been granted a concession under provisions of the Federal Bankruptcy Act and are monitored separately from loans modified under the Bancorp’s loan

modification programs. As of March 31, 2023, the Bancorp had commitments of $109 million to lend additional funds to borrowers experiencing financial difficulty whose terms have been modified during the three months ended March 31, 2023.

Commercial portfolio segment

Commercial loan modifications are individually negotiated and may vary depending on the borrower’s financial situation, but the Bancorp most commonly utilizes term extensions for periods of 3 to 12 months. In less common situations and when specifically warranted by the borrower’s situation, the Bancorp may also consider offering commercial borrowers interest rate reductions or payment deferrals, which may be combined with a term extension.

The following table presents the amortized cost basis of the Bancorp’s commercial portfolio loans that were modified for borrowers experiencing financial difficulty during the three months ended March 31, 2023, by portfolio class and type of modification:


($ in millions)	Term Extension		Interest Rate Reduction	Term Extension and Interest Rate Reduction	Total	% of Total Class
Commercial and industrial loans	$	105	1	—	106	0.18	%
Commercial mortgage owner-occupied loans	1		—	—	1	0.02
Commercial mortgage nonowner-occupied loans	22		—	3	25	0.43
Commercial construction loans	31		—	—	31	0.56
Total commercial portfolio loans	$	159	1	3	163	0.21	%

Residential mortgage portfolio segment

The Bancorp has established residential mortgage loan modification programs which define the type of modifications available as well as the eligibility criteria for borrowers. The designs of the Bancorp’s modification programs for residential mortgage loans are similar to those utilized by the various GSEs. The most common modification program utilized for residential mortgage loans is a term extension for up to 480 months from the modification date, combined with a change in interest rate to a fixed rate (which may be an increase or decrease from the rate in the original loan). As part of these modifications, the Bancorp may capitalize delinquent amounts due at the time of the modification into the principal balance of the loan when determining its modified payment structure. For loans where the modification results in a new monthly payment amount, borrowers are generally required to complete a trial period of three to four months before the loan is permanently modified. The Bancorp also offers payment delay modifications to qualified borrowers which allow either the deferral of repayment for delinquent amounts due until maturity or capitalization of delinquent amounts due into the principal balance of the loan. The number of monthly payments delayed varies by borrower but is most commonly within a range of 6 to 12 months.

The following table presents the amortized cost basis of the Bancorp’s residential mortgage loans that were modified for borrowers experiencing financial difficulty during the three months ended March 31, 2023, by type of modification:


($ in millions)	Total		% of Total Class

Payment delay	$	8	0.05	%
Term extension and payment delay	14		0.08

Term extension, interest rate reduction and payment delay	2		0.01
Total residential mortgage portfolio loans	$	24	0.14	%

The Bancorp had $18 million of in-process modifications to residential mortgage loans outstanding as of March 31, 2023 which are excluded from the completed modification activity in the table above. These in-process modifications will be reported as completed modifications once the borrower satisfies the applicable contingencies in the modification agreement and the loan is contractually modified to make the modified terms permanent.

Consumer portfolio segment

The Bancorp’s modification programs for consumer loans vary based on type of loan. The most common modification program for home equity is a term extension for up to 360 months combined with a deferral of delinquent amounts due until maturity, which may also be combined with an interest rate reduction. Modification programs for credit card typically involve an interest rate reduction and an increase to the minimum monthly payment in order to repay a larger portion of outstanding balances. Modifications for indirect secured consumer loans and other consumer loans are less commonly utilized as part of the Bancorp’s loss mitigation activities and programs vary by specific product type.

The following table presents the amortized cost basis of the Bancorp’s consumer portfolio loans that were modified for borrowers experiencing financial difficulty during the three months ended March 31, 2023, by portfolio class and type of modification:


($ in millions)	Interest Rate Reduction		Payment Deferral	Term Extension and Payment Deferral	Term Extension, Interest Rate Reduction and Payment Deferral	Total	% of Total Class
Home equity	$	—	—	1	3	4	0.10	%
Credit card	10		—	—	—	10	0.57
Other consumer loans	—		1	—	—	1	0.02
Total consumer portfolio loans	$	10	1	1	3	15	0.05	%

Financial effects of loan modifications

The following table presents the financial effects of the Bancorp’s portfolio loan modifications to borrowers experiencing financial difficulty during the three months ended March 31, 2023, by portfolio class:


			Financial Effects
Commercial loans:
Commercial and industrial loans			Weighted-average length of term extensions was 5 months.
Commercial mortgage owner-occupied loans			Weighted-average length of term extensions was 4 months.
Commercial mortgage nonowner-occupied loans			Weighted-average length of term extensions was 8 months and the weighted-average interest rate reduction was from 9.1% to 8.9%.
Commercial construction loans			Weighted-average length of term extensions was 12 months.
Residential mortgage loans			Weighted-average length of term extensions was 130 months and the amount of payment delays represented approximately 16% of the related loan balances.
Consumer loans:
Home equity			Weighted-average length of term extensions was 24.8 years, the weighted-average interest rate reduction was from 8.0% to 6.5% and the amount of payment deferrals represented approximately 6% of the related loan balances.

Credit card			Weighted-average interest rate reduction was from 23.2% to 3.9%.
Other consumer loans			Amount of payment deferrals represented approximately 6% of the related loan balances.

Credit quality of modified loans

The Bancorp closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts.

The following table presents the Bancorp’s portfolio loans that were modified to borrowers experiencing financial difficulty during the three months ended March 31, 2023, by age and portfolio class:


			Past Due
($ in millions)	Current		30-89 Days	90 Days or More	Total
Commercial loans:
Commercial and industrial loans	$	106	—	—	106
Commercial mortgage owner-occupied loans	1		—	—	1
Commercial mortgage nonowner-occupied loans	25		—	—	25
Commercial construction loans	31		—	—	31
Residential mortgage loans	23		1	—	24
Consumer loans:
Home equity	4		—	—	4

Credit card(a)	6		3	1	10
Other consumer loans	1		—	—	1
Total portfolio loans	$	197	4	1	202

(a)Credit card loans continue to be reported as delinquent after modification as they are not returned to current status until the borrower demonstrates a willingness and ability to repay the loan according to its modified terms.

The Bancorp considers modifications to borrowers experiencing financial difficulty that subsequently become 90 days or more past due under the modified terms as subsequently defaulted. Since the adoption of ASU 2022-02 on January 1, 2023, there were no modifications to borrowers experiencing financial difficulty that had become 90 days or more past due under the modified terms at March 31, 2023.

Troubled Debt Restructurings

Prior to the adoption of ASU 2022-02 on January 1, 2023, loans were accounted for as TDRs if the Bancorp, for economic or legal reasons related to the borrower’s financial difficulties, granted a concession to the borrower that it would not otherwise consider. Refer to Note 1 and Note 6 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on the Bancorp’s accounting policies for the identification and measurement of TDRs and the related impact on the ALLL.

The Bancorp had commitments to lend additional funds to borrowers whose terms have been modified in a TDR, consisting of line of credit and letter of credit commitments of $130 million and $60 million, respectively, as of December 31, 2022.

The following table provides a summary of portfolio loans, by class, modified in a TDR by the Bancorp during the three months ended:


March 31, 2022 ($ in millions)	Number of Loans Modified in a TDR During the Period(a)	Amortized Cost Basis in Loans Modified in a TDR During the Period		Increase (Decrease) to ALLL Upon Modification	Charge-offs Recognized Upon Modification
Commercial loans:
Commercial and industrial loans	30	$	91	13	—
Commercial mortgage owner-occupied loans	5	4		(1)	—


Residential mortgage loans	260	42		3	—
Consumer loans:
Home equity	52	7		(1)	—
Indirect secured consumer loans	1,274	27		—	—
Credit card	1,121	6		2	—
Total portfolio loans	2,742	$	177	16	—

(a)Represents number of loans post-modification and excludes loans previously modified in a TDR.

The Bancorp considered TDRs that became 90 days or more past due under the modified terms as subsequently defaulted. The following table provides a summary of TDRs that subsequently defaulted during the three months ended March 31, 2022 and were within 12 months of the restructuring date:


March 31, 2022 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	6	$	—


Residential mortgage loans	29	3
Consumer loans:
Home equity	10	1
Indirect secured consumer loans	25	—
Credit card	105	1
Total portfolio loans	175	$	5

(a)Excludes all loans held for sale and loans acquired with deteriorated credit quality which were accounted for within a pool.

Bank Premises and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Bank Premises and Equipment

The following table provides a summary of bank premises and equipment as of:


($ in millions)	March 31, 2023		December 31, 2022
Equipment	$	2,532	2,492
Buildings(a)	1,712		1,699
Land and improvements(a)	637		640
Leasehold improvements	581		568
Construction in progress(a)	133		124
Bank premises and equipment held for sale:
Land and improvements	16		17
Buildings	6		7

Accumulated depreciation and amortization	(3,398)		(3,360)
Total bank premises and equipment	$	2,219	2,187

(a)Buildings, land and improvements and construction in progress included $26 and $27 associated with parcels of undeveloped land intended for future branch expansion at March 31, 2023 and December 31, 2022, respectively.

The Bancorp monitors changing customer preferences associated with the channels it uses for banking transactions to evaluate the efficiency, competitiveness and quality of the customer service experience in its consumer distribution network. As part of this ongoing assessment, the Bancorp may determine that it is no longer fully committed to maintaining full-service banking centers at certain locations. Similarly, the Bancorp may also determine that it is no longer fully committed to building banking centers on certain parcels of land which had previously been held for future branch expansion. The Bancorp closed a total of 23 banking centers throughout its footprint during the three months ended March 31, 2023.

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. Impairment losses associated with such assessments and lower of cost or market adjustments were $1 million and immaterial for the three months ended March 31, 2023 and 2022, respectively. The recognized impairment losses were recorded in other noninterest income in the Condensed Consolidated Statements of Income.

Operating Lease Equipment

3 Months Ended

Mar. 31, 2023

Operating Lease Equipment

Operating lease equipment was $578 million and $627 million at March 31, 2023 and December 31, 2022, respectively, net of accumulated depreciation of $339 million and $338 million at March 31, 2023 and December 31, 2022, respectively. The Bancorp recorded lease income of $37 million and $36 million relating to lease payments for operating leases in leasing business revenue in the Condensed Consolidated Statements of Income during the three months ended March 31, 2023 and 2022, respectively. Depreciation expense related to operating lease equipment was $31 million and $29 million during the three months ended March 31, 2023 and 2022, respectively. The Bancorp received payments of $41 million and $36 million related to operating leases during the three months ended March 31, 2023 and 2022, respectively.

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. As a result of these recoverability assessments, the Bancorp did not recognize impairment losses during the three months ended March 31, 2023 and recognized $2 million of impairment losses during the three months ended March 31, 2022 associated with operating lease assets. The recognized impairment losses were recorded in leasing business revenue in the Condensed Consolidated Statements of Income.

The following table presents future lease payments receivable from operating leases for the remainder of 2023 through 2028 and thereafter:


As of March 31, 2023 ($ in millions)	Undiscounted Cash Flows
Remainder of 2023	$	100
2024	105
2025	79
2026	51
2027	25
2028	10
Thereafter	15
Total operating lease payments	$	385

Lease Obligations - Lessee

3 Months Ended

Mar. 31, 2023

Lease Obligations - Lessee

Lease Obligations – Lessee

The Bancorp leases certain banking centers, ATM sites, land for owned buildings and equipment. The Bancorp’s lease agreements typically do not contain any residual value guarantees or any material restrictive covenants. For more information on the accounting for lease obligations, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022.

The following table provides a summary of lease assets and lease liabilities as of:


($ in millions)	Condensed Consolidated Balance Sheets Caption	March 31, 2023		December 31, 2022
Assets
Operating lease right-of-use assets	Other assets	$	491	508
Finance lease right-of-use assets	Bank premises and equipment	145		150
Total right-of-use assets(a)		$	636	658
Liabilities
Operating lease liabilities	Accrued taxes, interest and expenses	$	582	599
Finance lease liabilities	Long-term debt	152		156
Total lease liabilities		$	734	755

(a) Operating and finance lease right-of-use assets are recorded net of accumulated amortization of $271 and $71, respectively, as of March 31, 2023, and $255 and $66, respectively, as of December 31, 2022.

The following table presents the components of lease costs:


($ in millions)	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
		2023		2022
Lease costs:
Amortization of ROU assets	Net occupancy and equipment expense	$	5	5
Interest on lease liabilities	Interest on long-term debt	1		1
Total finance lease costs		$	6	6
Operating lease cost	Net occupancy expense	$	22	20
Short-term lease cost	Net occupancy expense	1		—
Variable lease cost	Net occupancy expense	7		7
Sublease income	Net occupancy expense	(1)		(1)
Total operating lease costs		$	29	26
Total lease costs		$	35	32

The Bancorp performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. In addition to the lease costs disclosed in the table above, the Bancorp recognized $1 million of impairment losses and termination charges for the ROU assets related to certain operating leases during both the three months ended March 31, 2023 and 2022. The recognized losses were recorded in net occupancy expense in the Condensed Consolidated Statements of Income.

The following table presents undiscounted cash flows for both operating leases and finance leases for the remainder of 2023 through 2028 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:


As of March 31, 2023 ($ in millions)	Operating Leases		Finance Leases	Total
Remainder of 2023	$	67	15	82
2024	86		21	107
2025	78		14	92
2026	69		9	78
2027	62		8	70
2028	53		9	62
Thereafter	298		120	418
Total undiscounted cash flows	$	713	196	909
Less: Difference between undiscounted cash flows and discounted cash flows	131		44	175
Present value of lease liabilities	$	582	152	734

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of:


	March 31, 2023		December 31, 2022
Weighted-average remaining lease term (years):
Operating leases	10.70		10.80
Finance leases	15.31		15.31
Weighted-average discount rate:
Operating leases	3.43	%	3.35
Finance leases	2.97		2.94

The following table presents information related to lease transactions for the three months ended March 31:


($ in millions)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:(a)
Operating cash flows from operating leases	$	23	22
Operating cash flows from finance leases	1		1
Financing cash flows from finance leases	4		4

Gains on sale-leaseback transactions	1		—

(a) The cash flows related to the short-term and variable lease payments are not included in the amounts in the table as they were not included in the measurement of lease liabilities.

Lease Obligations - Lessee

Lease Obligations – Lessee

The Bancorp leases certain banking centers, ATM sites, land for owned buildings and equipment. The Bancorp’s lease agreements typically do not contain any residual value guarantees or any material restrictive covenants. For more information on the accounting for lease obligations, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022.

The following table provides a summary of lease assets and lease liabilities as of:


($ in millions)	Condensed Consolidated Balance Sheets Caption	March 31, 2023		December 31, 2022
Assets
Operating lease right-of-use assets	Other assets	$	491	508
Finance lease right-of-use assets	Bank premises and equipment	145		150
Total right-of-use assets(a)		$	636	658
Liabilities
Operating lease liabilities	Accrued taxes, interest and expenses	$	582	599
Finance lease liabilities	Long-term debt	152		156
Total lease liabilities		$	734	755

(a) Operating and finance lease right-of-use assets are recorded net of accumulated amortization of $271 and $71, respectively, as of March 31, 2023, and $255 and $66, respectively, as of December 31, 2022.

The following table presents the components of lease costs:


($ in millions)	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
		2023		2022
Lease costs:
Amortization of ROU assets	Net occupancy and equipment expense	$	5	5
Interest on lease liabilities	Interest on long-term debt	1		1
Total finance lease costs		$	6	6
Operating lease cost	Net occupancy expense	$	22	20
Short-term lease cost	Net occupancy expense	1		—
Variable lease cost	Net occupancy expense	7		7
Sublease income	Net occupancy expense	(1)		(1)
Total operating lease costs		$	29	26
Total lease costs		$	35	32

The Bancorp performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. In addition to the lease costs disclosed in the table above, the Bancorp recognized $1 million of impairment losses and termination charges for the ROU assets related to certain operating leases during both the three months ended March 31, 2023 and 2022. The recognized losses were recorded in net occupancy expense in the Condensed Consolidated Statements of Income.

The following table presents undiscounted cash flows for both operating leases and finance leases for the remainder of 2023 through 2028 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:


As of March 31, 2023 ($ in millions)	Operating Leases		Finance Leases	Total
Remainder of 2023	$	67	15	82
2024	86		21	107
2025	78		14	92
2026	69		9	78
2027	62		8	70
2028	53		9	62
Thereafter	298		120	418
Total undiscounted cash flows	$	713	196	909
Less: Difference between undiscounted cash flows and discounted cash flows	131		44	175
Present value of lease liabilities	$	582	152	734

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of:


	March 31, 2023		December 31, 2022
Weighted-average remaining lease term (years):
Operating leases	10.70		10.80
Finance leases	15.31		15.31
Weighted-average discount rate:
Operating leases	3.43	%	3.35
Finance leases	2.97		2.94

The following table presents information related to lease transactions for the three months ended March 31:


($ in millions)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:(a)
Operating cash flows from operating leases	$	23	22
Operating cash flows from finance leases	1		1
Financing cash flows from finance leases	4		4

Gains on sale-leaseback transactions	1		—

(a) The cash flows related to the short-term and variable lease payments are not included in the amounts in the table as they were not included in the measurement of lease liabilities.

Goodwill	3 Months Ended
Goodwill	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GoodwillDuring the first quarter of 2023, the Bancorp performed a qualitative assessment of its goodwill in consideration of the current economic environment. Based upon this assessment, the Bancorp concluded it was not more likely than not that the fair value of its reporting units were less than their carrying amounts.

Intangible Assets

3 Months Ended

Mar. 31, 2023

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets

Intangible assets consist of core deposit intangibles, developed technology, customer relationships, and other intangible assets which include trade names, backlog, operating leases and non-compete agreements. Intangible assets are amortized on either a straight-line or an accelerated basis over their estimated useful lives and, based on the type of intangible asset, the amortization expense may be recorded in either leasing business revenue or other noninterest expense in the Condensed Consolidated Statements of Income.

The details of the Bancorp’s intangible assets are shown in the following table:


($ in millions)	Gross Carrying Amount		Accumulated Amortization	Net Carrying Amount
As of March 31, 2023
Core deposit intangibles	$	209	(169)	40
Developed technology	106		(20)	86
Customer relationships	30		(8)	22
Other	18		(9)	9
Total intangible assets	$	363	(206)	157
As of December 31, 2022
Core deposit intangibles	$	229	(182)	47
Developed technology	106		(17)	89
Customer relationships	30		(7)	23
Other	20		(10)	10
Total intangible assets	$	385	(216)	169

As of March 31, 2023, all of the Bancorp’s intangible assets were being amortized. Amortization expense recognized on intangible assets was $12 million and $11 million for the three months ended March 31, 2023 and 2022, respectively. The Bancorp’s projections of amortization expense shown in the following table are based on existing asset balances as of March 31, 2023. Future amortization expense may vary from these projections.

Estimated amortization expense for the remainder of 2023 through 2027 is as follows:


($ in millions)	Total
Remainder of 2023	$	31
2024	35
2025	28
2026	22
2027	14

Variable Interest Entities

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

The Bancorp, in the normal course of business, engages in a variety of activities that involve VIEs, which are legal entities that lack sufficient equity at risk to finance their activities without additional subordinated financial support or the equity investors of the entities as a group lack any of the characteristics of a controlling interest. The Bancorp evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Bancorp is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. If the Bancorp is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Bancorp is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under the equity method of accounting or other accounting standards as appropriate.

Consolidated VIEs

The Bancorp has consolidated VIEs related to an automobile loan securitization and a solar loan securitization where it has determined that it is the primary beneficiary. The following table provides a summary of assets and liabilities carried on the Condensed Consolidated Balance Sheets for the consolidated VIEs as of:


($ in millions)	March 31, 2023		December 31, 2022
Assets:
Other short-term investments	$	5	17
Indirect secured consumer loans	—		141
Other consumer loans	44		44
ALLL	(1)		(2)
Other assets	—		2
Total assets	$	48	202
Liabilities:
Other liabilities	$	9	9
Long-term debt	38		118
Total liabilities	$	47	127

As a result of a business acquisition in the second quarter of 2022, the Bancorp acquired interests in a previously completed securitization transaction in which solar loans were transferred to a bankruptcy remote trust which was deemed to be a VIE. Additionally, the Bancorp previously completed a securitization transaction in which the Bancorp transferred certain consumer automobile loans to a bankruptcy remote trust which was deemed to be a VIE. On January 17, 2023, the Bancorp exercised its cleanup call option on the outstanding automobile securitization. The Bancorp acquired all remaining automobile loans plus accrued interest, and those proceeds were used by the trust to repay the outstanding securitized debt. In each of these securitization transactions, the primary purposes of the VIEs were to issue asset-backed securities with varying levels of credit subordination and payment priority, as well as residual interests, and to provide access to liquidity for originated loans. The Bancorp retained residual interests in the VIEs and, therefore, has an obligation to absorb losses and a right to receive benefits from the VIEs that could potentially be significant to the VIEs. In addition, the Bancorp retained servicing rights for the underlying loans and, therefore, holds the power to direct the activities of the VIEs that most significantly impact the economic performance of the VIEs. As a result, the Bancorp concluded that it is the primary beneficiary of the VIEs and has consolidated these VIEs. The assets of the VIEs are restricted to the settlement of the asset-backed securities and other obligations of the VIEs. The third-party holders of the asset-backed notes do not have recourse to the general assets of the Bancorp.

The economic performance of the VIEs is most significantly impacted by the performance of the underlying loans. The principal risks to which the VIEs are exposed include credit risk and prepayment risk. The credit and prepayment risks are managed through credit enhancements in the form of reserve accounts, overcollateralization, excess interest on the loans and the subordination of certain classes of asset-backed securities to other classes.

Non-consolidated VIEs

The following tables provide a summary of assets and liabilities carried on the Condensed Consolidated Balance Sheets related to non-consolidated VIEs for which the Bancorp holds an interest, but is not the primary beneficiary of the VIE, as well as the Bancorp’s maximum exposure to losses associated with its interests in the entities as of:


March 31, 2023 ($ in millions)	Total Assets		Total Liabilities	Maximum Exposure
CDC investments	$	1,886	687	1,886
Private equity investments	187		—	360
Loans provided to VIEs	4,171		—	6,306
Lease pool entities	55		—	55
Solar loan securitizations	10		—	10


December 31, 2022 ($ in millions)	Total Assets		Total Liabilities	Maximum Exposure
CDC investments	$	1,856	653	1,856
Private equity investments	186		—	349
Loans provided to VIEs	4,374		—	6,438
Lease pool entities	61		—	61
Solar loan securitizations	10		—	10

CDC investments

CDC invests in projects to create affordable housing and revitalize business and residential areas. CDC generally co-invests with other unrelated companies and/or individuals and typically makes investments in a separate legal entity that owns the property under development. The entities are usually formed as limited partnerships and LLCs and CDC typically invests as a limited partner/investor member in the form of equity contributions. The economic performance of the VIEs is driven by the performance of their underlying investment projects as well as the VIEs’ ability to operate in compliance with the rules and regulations necessary for the qualification of tax credits generated by equity investments. The Bancorp has determined that it is not the primary beneficiary of these VIEs because it lacks the power to direct the activities that most significantly impact the economic performance of the underlying project or the VIEs’ ability to operate in compliance with the rules and regulations necessary for the qualification of tax credits generated by equity investments. This power is held by the managing members who exercise full and exclusive control of the operations of the VIEs. For information regarding the Bancorp’s accounting for these investments, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022.

The Bancorp’s funding requirements are limited to its invested capital and any additional unfunded commitments for future equity contributions. The Bancorp’s maximum exposure to loss as a result of its involvement with the VIEs is limited to the carrying amounts of the investments, including the unfunded commitments. The carrying amounts of these investments, which are included in other assets in the Condensed Consolidated Balance Sheets, and the liabilities related to the unfunded commitments, which are included in other liabilities in the Condensed Consolidated Balance Sheets, are included in the previous tables for all periods presented. The Bancorp has no other liquidity arrangements or obligations to purchase assets of the VIEs that would expose the Bancorp to a loss. In certain arrangements, the general partner/managing member of the VIE has guaranteed a level of projected tax credits to be received by the limited partners/investor members, thereby minimizing a portion of the Bancorp’s risk.

At both March 31, 2023 and December 31, 2022, the Bancorp’s CDC investments included $1.6 billion of investments in affordable housing tax credits recognized in other assets in the Condensed Consolidated Balance Sheets. The unfunded commitments related to these investments were $679 million and $643 million at March 31, 2023 and December 31, 2022, respectively. The unfunded commitments as of March 31, 2023 are expected to be funded from 2023 to 2040.

The Bancorp has accounted for all of its qualifying LIHTC investments using the proportional amortization method of accounting. The following table summarizes the impact to the Condensed Consolidated Statements of Income related to these investments:


	Condensed Consolidated Statements of Income Caption(a)	For the three months ended March 31,
($ in millions)		2023		2022
Proportional amortization	Applicable income tax expense	$	43	35
Tax credits and other benefits	Applicable income tax expense	(51)		(41)

(a)The Bancorp did not recognize impairment losses resulting from the forfeiture or ineligibility of tax credits or other circumstances during both the three months ended March 31, 2023 and 2022.

Private equity investments

The Bancorp invests as a limited partner in private equity investments which provide the Bancorp an opportunity to obtain higher rates of return on invested capital, while also providing strategic opportunities in certain cases. Each of the limited partnerships has an unrelated third-party general partner responsible for appointing the fund manager. The Bancorp has not been appointed fund manager for any of these private

equity investments. The funds finance primarily all of their activities from the partners’ capital contributions and investment returns. The Bancorp has determined that it is not the primary beneficiary of the funds because it does not have the obligation to absorb the funds’ expected losses or the right to receive the funds’ expected residual returns that could potentially be significant to the funds and lacks the power to direct the activities that most significantly impact the economic performance of the funds. The Bancorp, as a limited partner, does not have substantive participating or substantive kick-out rights over the general partner. Therefore, the Bancorp accounts for its investments in these limited partnerships under the equity method of accounting.

The Bancorp is exposed to losses arising from the negative performance of the underlying investments in the private equity investments. As a limited partner, the Bancorp’s maximum exposure to loss is limited to the carrying amounts of the investments plus unfunded commitments. The carrying amounts of these investments, which are included in other assets in the Condensed Consolidated Balance Sheets, are presented in previous tables. Also, at March 31, 2023 and December 31, 2022, the Bancorp’s unfunded commitment amounts to the private equity funds were $173 million and $163 million, respectively. As part of previous commitments, the Bancorp made capital contributions to private equity investments of $12 million and $9 million during the three months ended March 31, 2023 and 2022, respectively.

Loans provided to VIEs

The Bancorp has provided funding to certain unconsolidated VIEs sponsored by third parties. These VIEs are generally established to finance certain consumer and small business loans originated by third parties. The entities are primarily funded through the issuance of a loan from the Bancorp or a syndication through which the Bancorp is involved. The sponsor/administrator of the entities is responsible for servicing the underlying assets in the VIEs. Because the sponsor/administrator, not the Bancorp, holds the servicing responsibilities, which include the establishment and employment of default mitigation policies and procedures, the Bancorp does not hold the power to direct the activities that most significantly impact the economic performance of the entity and, therefore, is not the primary beneficiary.

The principal risk to which these entities are exposed is credit risk related to the underlying assets. The Bancorp’s maximum exposure to loss is equal to the carrying amounts of the loans and unfunded commitments to the VIEs. The Bancorp’s outstanding loans to these VIEs are included in commercial loans in Note 5. At both March 31, 2023 and December 31, 2022, the Bancorp’s unfunded commitments to these entities were $2.1 billion. The loans and unfunded commitments to these VIEs are included in the Bancorp’s overall analysis of the ALLL and reserve for unfunded commitments, respectively. The Bancorp does not provide any implicit or explicit liquidity guarantees or principal value guarantees to these VIEs.

Lease pool entities

The Bancorp is a co-investor with other unrelated leasing companies in three LLCs designed for the purpose of purchasing pools of residual interests in leases which have been originated or purchased by the other investing member. For each LLC, the leasing company is the managing member and has full authority over the day-to-day operations of the entity. While the Bancorp holds more than 50% of the equity interests in each LLC, the operating agreements require both members to consent to significant corporate actions, such as liquidating the entity or removing the manager. In addition, the Bancorp has a preference with regards to distributions such that all of the Bancorp’s equity contribution for each pool must be distributed, plus a pre-defined rate of return, before the other member may receive distributions. The leasing company is also entitled to the return of its investment plus a pre-defined rate of return before any residual profits are distributed to the members.

The lease pool entities are primarily subject to risk of losses on the lease residuals purchased. The Bancorp’s maximum exposure to loss is equal to the carrying amount of the investments. The Bancorp has determined that it is not the primary beneficiary of these VIEs because it does not have the power to direct the activities that most significantly impact the economic performance of the entities. This power is held by the leasing company, who as managing member controls the servicing of the leases and collection of the proceeds on the residual interests.

Solar loan securitizations

As a result of a business acquisition in the second quarter of 2022, the Bancorp acquired interests in previously completed securitization transactions in which solar loans were transferred to bankruptcy remote trusts which were deemed to be VIEs. In each of these securitization transactions, the primary purposes of the VIEs were to issue asset-backed securities with varying levels of credit subordination and payment priority, as well as residual interests, and to provide access to liquidity for originated loans. The Bancorp retained certain risk retention interests in the classes of securities issued by the VIEs and retained servicing rights for the underlying loans. The Bancorp’s maximum exposure to loss is equal to the carrying amount of the investments. The Bancorp has determined that it is not the primary beneficiary of the VIEs because it does not have the obligation to absorb the VIEs expected losses or the right to receive the VIEs expected residual returns that could potentially be significant to the VIEs. The risk retention interests held by the Bancorp were included in available-for-sale debt and other securities in the Condensed Consolidated Balance Sheets.

Sales of Receivables and Servicing Rights

3 Months Ended

Mar. 31, 2023

Transfers and Servicing [Abstract]

Sales of Receivables and Servicing Rights

Residential Mortgage Loan Sales

The Bancorp sold fixed and adjustable-rate residential mortgage loans during the three months ended March 31, 2023 and 2022. In those sales, the Bancorp obtained servicing responsibilities and provided certain standard representations and warranties; however, the investors have no recourse to the Bancorp’s other assets for failure of debtors to pay when due. The Bancorp receives servicing fees based on a percentage of the outstanding balance. The Bancorp identifies classes of servicing assets based on financial asset type and interest rates.

Information related to residential mortgage loan sales and the Bancorp’s mortgage banking activity, which is included in mortgage banking net revenue in the Condensed Consolidated Statements of Income, is as follows:


	For the three months ended March 31,
($ in millions)	2023		2022
Residential mortgage loan sales(a)	$	1,275	3,400

Origination fees and gains on loan sales	18		25
Gross mortgage servicing fees	83		71

(a)Represents the unpaid principal balance at the time of the sale.

Servicing Rights

The Bancorp measures all of its mortgage servicing rights at fair value with changes in fair value reported in mortgage banking net revenue in the Condensed Consolidated Statements of Income.

The following table presents changes in the servicing rights related to residential mortgage loans for the three months ended March 31:


($ in millions)	2023		2022
Balance, beginning of period	$	1,746	1,121
Servicing rights originated	16		47
Servicing rights purchased	16		139
Changes in fair value:
Due to changes in inputs or assumptions(a)	(19)		190
Other changes in fair value(b)	(34)		(53)
Balance, end of period	$	1,725	1,444

(a)Primarily reflects changes in prepayment speed and OAS assumptions which are updated based on market interest rates.

(b)Primarily reflects changes due to realized cash flows and the passage of time.

The Bancorp maintains a non-qualifying hedging strategy to manage a portion of the risk associated with changes in the value of the MSR portfolio. This strategy may include the purchase of free-standing derivatives and various available-for-sale debt and trading debt securities. The interest income, mark-to-market adjustments and gain or loss from sale activities associated with these portfolios are expected to economically hedge a portion of the change in value of the MSR portfolio caused by fluctuating OAS, earnings rates and prepayment speeds. The fair value of the servicing asset is based on the present value of expected future cash flows.

The following table presents activity related to valuations of the MSR portfolio and the impact of the non-qualifying hedging strategy:


	For the three months ended March 31,
($ in millions)	2023		2022
Securities losses, net – non-qualifying hedges on mortgage servicing rights	$	—	(1)
Changes in fair value and settlement of free-standing derivatives purchased to economically hedge the MSR portfolio(a)	21		(181)
MSR fair value adjustment due to changes in inputs or assumptions(a)	(19)		190

(a)Included in mortgage banking net revenue in the Condensed Consolidated Statements of Income.

The key economic assumptions used in measuring the servicing rights related to residential mortgage loans that continued to be held by the Bancorp at the date of sale, securitization or purchase resulting from transactions completed during the three months ended March 31, 2023 and 2022 were as follows:


	March 31, 2023				March 31, 2022
	Weighted- Average Life (in years)	Prepayment Speed (annual)		OAS (bps)	Weighted- Average Life (in years)	Prepayment Speed (annual)		OAS (bps)
Fixed-rate	6.7	12.4	%	621	7.3	8.1	%	729
Adjustable-rate	3.0	27.9		774	2.8	27.7		798

At March 31, 2023 and December 31, 2022, the Bancorp serviced $103.4 billion and $103.2 billion, respectively, of residential mortgage loans for other investors. The value of MSRs that continue to be held by the Bancorp is subject to credit, prepayment and interest rate risks on the sold financial assets. The weighted-average coupon of the MSR portfolio was 3.62% and 3.59% at March 31, 2023 and December 31, 2022, respectively.

At March 31, 2023, the sensitivity of the current fair value of residual cash flows to immediate 10%, 20% and 50% adverse changes in prepayment speed assumptions and immediate 10% and 20% adverse changes in OAS for servicing rights related to residential mortgage loans are as follows:


($ in millions)(a)				Prepayment Speed Assumption						OAS Assumption
	Fair Value		Weighted- Average Life (in years)			Impact of Adverse Change on Fair Value				OAS (bps)	Impact of Adverse Change on Fair Value
				Rate		10%		20%	50%		10%		20%
Fixed-rate	$	1,720	8.6	5.6	%	$	(42)	(80)	(178)	629	$	(45)	(87)
Adjustable-rate	5		5.1	20.3		(1)		(1)	(2)	1,204	—		—

(a)The impact of the weighted-average default rate on the current fair value of residual cash flows for all scenarios is immaterial.

These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on these variations in the assumptions typically cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. The Bancorp believes that variations of these levels are reasonably possible; however, there is the potential that adverse changes in key assumptions could be even greater. Also, in the previous table, the effect of a variation in a particular assumption on the fair value of the interests that continue to be held by the Bancorp is calculated without changing any other assumption; in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which might magnify or counteract these sensitivities.

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

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Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2023

Derivative Financial Instruments

The Bancorp maintains an overall risk management strategy that incorporates the use of derivative instruments to reduce certain risks related to interest rate, prepayment and foreign currency volatility. Additionally, the Bancorp holds derivative instruments for the benefit of its commercial customers and for other business purposes. The Bancorp does not enter into unhedged speculative derivative positions.

The Bancorp’s interest rate risk management strategy involves modifying the repricing characteristics of certain financial instruments so that changes in interest rates do not adversely affect the Bancorp’s net interest margin and cash flows. Derivative instruments that the Bancorp may use as part of its interest rate risk management strategy include interest rate swaps, interest rate floors, interest rate caps, forward contracts, forward starting interest rate swaps, options, swaptions and TBA securities. Interest rate swap contracts are exchanges of interest payments, such as fixed-rate payments for floating-rate payments, based on a stated notional amount and maturity date. Interest rate floors protect against declining rates, while interest rate caps protect against rising interest rates. Forward contracts are contracts in which the buyer agrees to purchase, and the seller agrees to make delivery of, a specific financial instrument at a predetermined price or yield. Options provide the purchaser with the right, but not the obligation, to purchase or sell a contracted item during a specified period at an agreed-upon price. Swaptions are financial instruments granting the owner the right, but not the obligation, to enter into or cancel a swap.

Prepayment volatility arises mostly from changes in fair value of the largely fixed-rate MSR portfolio, mortgage loans and mortgage-backed securities. The Bancorp may enter into various free-standing derivatives (principal-only swaps, interest rate swaptions, interest rate floors, mortgage options, TBA securities and interest rate swaps) to economically hedge prepayment volatility. Principal-only swaps are total return swaps based on changes in the value of the underlying mortgage principal-only trust. TBA securities are a forward purchase agreement for a mortgage-backed securities trade whereby the terms of the security are undefined at the time the trade is made.

Foreign currency volatility occurs as the Bancorp enters into certain loans denominated in foreign currencies. Derivative instruments that the Bancorp may use to economically hedge these foreign denominated loans include foreign exchange swaps and forward contracts.

The Bancorp also enters into derivative contracts (including foreign exchange contracts, commodity contracts and interest rate contracts) for the benefit of commercial customers and other business purposes. The Bancorp economically hedges significant exposures related to these free-standing derivatives by entering into offsetting third-party contracts with approved, reputable and independent counterparties with substantially matching terms and currencies. Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. The Bancorp’s exposure is limited to the replacement value of the contracts rather than the notional, principal or contract amounts. Credit risk is minimized through credit approvals, limits, counterparty collateral and monitoring procedures.

The fair value of derivative instruments is presented on a gross basis, even when the derivative instruments are subject to master netting arrangements. Derivative instruments with a positive fair value are reported in other assets in the Condensed Consolidated Balance Sheets while derivative instruments with a negative fair value are reported in other liabilities in the Condensed Consolidated Balance Sheets. Cash collateral payables and receivables associated with the derivative instruments are not added to or netted against the fair value amounts with the exception of certain variation margin payments that are considered legal settlements of the derivative contracts. For derivative contracts cleared through certain central clearing parties who have modified their rules to treat variation margin payments as settlements, the variation margin payments are applied to net the fair value of the respective derivative contracts.

The Bancorp’s derivative assets include certain contractual features in which the Bancorp requires the counterparties to provide collateral, typically in the form of cash or securities, to offset changes in the fair value of the derivatives, including changes in the fair value due to credit risk of the counterparty. As of March 31, 2023 and December 31, 2022, the balance of collateral held by the Bancorp for derivative assets was $1.5 billion and $1.3 billion, respectively. For derivative contracts cleared through certain central clearing parties whose rules treat variation margin payments as settlements of the derivative contract, the payments for variation margin of $854 million and $1.0 billion as of March 31, 2023 and December 31, 2022, respectively, were applied to reduce the respective derivative contracts and were also not included in the total amount of collateral held. As of March 31, 2023 and December 31, 2022, the credit component negatively impacting the fair value of derivative assets associated with customer accommodation contracts was $10 million and $9 million, respectively.

In measuring the fair value of derivative liabilities, the Bancorp considers its own credit risk, taking into consideration collateral maintenance requirements of certain derivative counterparties and the duration of instruments with counterparties that do not require collateral maintenance. When necessary, the Bancorp posts collateral, primarily in the form of cash or securities, to offset changes in fair value of the derivatives, including changes in fair value due to the Bancorp’s credit risk. As of March 31, 2023 and December 31, 2022, the balance of collateral posted by the Bancorp for derivative liabilities was $853 million and $913 million, respectively. Additionally, as of March 31, 2023 and December 31, 2022, $684 million and $1.0 billion, respectively, of variation margin payments were applied to the respective derivative contracts to reduce the Bancorp’s derivative liabilities and were also not included in the total amount of collateral posted. Certain of the Bancorp’s derivative liabilities contain credit risk-related contingent features that could result in the requirement to post additional collateral upon the occurrence of specified events. As of both March 31, 2023 and December 31, 2022, the fair value of the additional collateral that could be required to be posted as a result of the credit risk-related contingent features being triggered was immaterial to the Bancorp’s Condensed Consolidated Financial Statements. The posting of collateral has been determined to remove the need for further consideration of

credit risk. As a result, the Bancorp determined that the impact of the Bancorp’s credit risk to the valuation of its derivative liabilities was immaterial to the Bancorp’s Condensed Consolidated Financial Statements.

The Bancorp holds certain derivative instruments that qualify for hedge accounting treatment and are designated as either fair value hedges or cash flow hedges. Derivative instruments that do not qualify for hedge accounting treatment, or for which hedge accounting is not established, are held as free-standing derivatives. All customer accommodation derivatives are held as free-standing derivatives.

The following tables reflect the notional amounts and fair values for all derivative instruments included in the Condensed Consolidated Balance Sheets as of:


			Fair Value
March 31, 2023 ($ in millions)	Notional Amount		Derivative Assets		Derivative Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt	$	5,955	164		144

Total fair value hedges			164		144
Cash flow hedges:
Interest rate floors related to C&I loans	3,000		4		—
Interest rate swaps related to C&I loans	8,000		—		80
Interest rate swaps related to C&I loans - forward starting(a)	10,000		6		1
Interest rate swaps related to commercial mortgage and commercial construction loans	4,000		—		14
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)	4,000		4		—
Total cash flow hedges			14		95
Total derivatives designated as qualifying hedging instruments			178		239
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives – risk management and other business purposes:
Interest rate contracts related to MSR portfolio	2,700		61		3
Forward contracts related to residential mortgage loans held for sale(b)	960		1		8
Swap associated with the sale of Visa, Inc. Class B Shares	3,644		—		192
Foreign exchange contracts	194		—		1
Interest-only strips	58		4		—
Interest rate contracts for collateral management	12,000		10		10

Interest rate contracts for LIBOR transition	597		—		—
Total free-standing derivatives – risk management and other business purposes			76		214
Free-standing derivatives – customer accommodation:
Interest rate contracts(c)	91,778		893		1,385
Interest rate lock commitments	367		7		—
Commodity contracts	16,942		1,153		1,056
TBA securities	34		—		—
Foreign exchange contracts	24,329		450		406
Total free-standing derivatives – customer accommodation			2,503		2,847
Total derivatives not designated as qualifying hedging instruments			2,579		3,061
Total			$	2,757	3,300

(a)Forward starting swaps will become effective on various dates between October 2023 and February 2025.

(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments.

(c)Derivative assets and liabilities are presented net of variation margin of $505 and $27, respectively.


			Fair Value
December 31, 2022 ($ in millions)	Notional Amount		Derivative Assets		Derivative Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt	$	5,955	126		195

Total fair value hedges			126		195
Cash flow hedges:
Interest rate floors related to C&I loans	3,000		4		—
Interest rate swaps related to C&I loans	8,000		—		76
Interest rate swaps related to C&I loans - forward starting(a)	11,000		22		—
Interest rate swaps related to commercial mortgage and commercial construction loans	4,000		—		25
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)	4,000		5		—
Total cash flow hedges			31		101
Total derivatives designated as qualifying hedging instruments			157		296
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives – risk management and other business purposes:
Interest rate contracts related to MSR portfolio	2,975		62		17
Forward contracts related to residential mortgage loans held for sale(b)	1,869		9		7
Swap associated with the sale of Visa, Inc. Class B Shares	3,358		—		195
Foreign exchange contracts	156		1		—
Interest-only strips	58		4		—
Interest rate contracts for collateral management	12,000		9		1
Interest rate contracts for LIBOR transition	597		—		—
Total free-standing derivatives – risk management and other business purposes			85		220
Free-standing derivatives – customer accommodation:
Interest rate contracts(c)	83,605		998		1,663
Interest rate lock commitments	216		2		1
Commodity contracts	16,122		1,478		1,350
TBA securities	62		—		—
Foreign exchange contracts	25,322		453		422
Total free-standing derivatives – customer accommodation			2,931		3,436
Total derivatives not designated as qualifying hedging instruments			3,016		3,656
Total			$	3,173	3,952

(a)Forward starting swaps will become effective on various dates between February 2023 and February 2025.

(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments.

(c)Derivative assets and liabilities are presented net of variation margin of $694 and $37, respectively.

Fair Value Hedges

The Bancorp may enter into interest rate swaps to convert its fixed-rate funding to floating-rate or to hedge the exposure to changes in fair value of a recognized asset attributable to changes in the benchmark interest rate. Decisions to enter into these interest rate swaps are made primarily through consideration of the asset/liability mix of the Bancorp, the desired asset/liability sensitivity and interest rate levels. As of March 31, 2023, certain interest rate swaps met the criteria required to qualify for the shortcut method of accounting that permits the assumption of perfect offset. For all designated fair value hedges of interest rate risk as of March 31, 2023 that were not accounted for under the shortcut method of accounting, the Bancorp performed an assessment of hedge effectiveness using regression analysis with changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability attributable to the hedged risk recorded in the same income statement line in current period net income.

The following table reflects the changes in fair value of interest rate contracts, designated as fair value hedges and the changes in fair value of the related hedged items attributable to the risk being hedged, as well as the line items in the Condensed Consolidated Statements of Income in which the corresponding gains or losses are recorded:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Long-term debt:
Change in fair value of interest rate swaps hedging long-term debt	Interest on long-term debt	$	92	(152)
Change in fair value of hedged long-term debt attributable to the risk being hedged	Interest on long-term debt	(89)		152
Available-for-sale debt and other securities:
Change in fair value of interest rate swaps hedging available-for-sale debt and other securities	Interest on securities	—		8
Change in fair value of hedged available-for-sale debt and other securities attributable to the risk being hedged	Interest on securities	—		(8)

The following amounts were recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of:


($ in millions)	Condensed Consolidated Balance Sheets Caption	March 31, 2023		December 31, 2022
Long-term debt:
Carrying amount of the hedged items	Long-term debt	$	5,954	5,865
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	Long-term debt	25		(64)
Available-for-sale debt and other securities:
Cumulative amount of fair value hedging adjustments remaining for hedged items for which hedge accounting has been discontinued	Available-for-sale debt and other securities	(13)		(14)

(a)The carrying amount represents the amortized cost basis of the hedged items (which excludes unrealized gains and losses) plus the fair value hedging adjustments.

Cash Flow Hedges

The Bancorp may enter into interest rate swaps to convert floating-rate assets and liabilities to fixed rates or to hedge certain forecasted transactions for the variability in cash flows attributable to the contractually specified interest rate. The assets or liabilities may be grouped in circumstances where they share the same risk exposure that the Bancorp desires to hedge. The Bancorp may also enter into interest rate caps and floors to limit cash flow variability of floating-rate assets and liabilities. As of March 31, 2023, all hedges designated as cash flow hedges were assessed for effectiveness using regression analysis. The entire change in the fair value of the interest rate swap included in the assessment of hedge effectiveness is recorded in AOCI and reclassified from AOCI to current period earnings when the hedged item affects earnings. As of March 31, 2023, the maximum length of time over which the Bancorp is hedging its exposure to the variability in future cash flows is 106 months.

Reclassified gains and losses on interest rate contracts related to commercial and industrial loans are recorded within interest income in the Condensed Consolidated Statements of Income. As of March 31, 2023 and December 31, 2022, respectively, $233 million and $498 million of net deferred losses, net of tax, on cash flow hedges were recorded in AOCI in the Condensed Consolidated Balance Sheets. As of March 31, 2023, $265 million in net unrealized losses, net of tax, recorded in AOCI are expected to be reclassified into earnings during the next 12 months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations or the addition of other hedges subsequent to March 31, 2023.

During both the three months ended March 31, 2023 and 2022, there were no gains or losses reclassified from AOCI into earnings associated with the discontinuance of cash flow hedges because it was probable that the original forecasted transaction would no longer occur by the end of the originally specified time period or within the additional period of time as defined by U.S. GAAP.

The following table presents the pre-tax net gains (losses) recorded in the Condensed Consolidated Statements of Income and in the Condensed Consolidated Statements of Comprehensive Income relating to derivative instruments designated as cash flow hedges:


	For the three months ended March 31,
($ in millions)	2023		2022
Amount of pre-tax net gains (losses) recognized in OCI	$	278	(407)
Amount of pre-tax net (losses) gains reclassified from OCI into net income	(65)		78

Free-Standing Derivative Instruments – Risk Management and Other Business Purposes

As part of its overall risk management strategy relative to its mortgage banking activity, the Bancorp may enter into various free-standing derivatives (principal-only swaps, interest rate swaptions, interest rate floors, mortgage options, TBA securities and interest rate swaps) to economically hedge changes in fair value of its largely fixed-rate MSR portfolio. Principal-only swaps hedge the spread between mortgage rates and LIBOR because these swaps appreciate in value as a result of tightening spreads. Principal-only swaps also provide prepayment protection by increasing in value when prepayment speeds increase, as opposed to MSRs that lose value in a faster prepayment environment. Receive fixed/pay floating interest rate swaps and swaptions increase in value when interest rates do not increase as quickly as expected.

The Bancorp enters into forward contracts and mortgage options to economically hedge the change in fair value of certain residential mortgage loans held for sale due to changes in interest rates. These contracts generally settle within one year or less. IRLCs issued on residential mortgage loan commitments that will be held for sale are also considered free-standing derivative instruments and the interest rate exposure on these commitments is economically hedged primarily with forward contracts. Revaluation gains and losses from free-standing derivatives related to mortgage banking activity are recorded as a component of mortgage banking net revenue in the Condensed Consolidated Statements of Income.

In conjunction with the sale of Visa, Inc. Class B Shares in 2009, the Bancorp entered into a total return swap in which the Bancorp will make or receive payments based on subsequent changes in the conversion rate of the Class B Shares into Class A Shares. This total return swap is accounted for as a free-standing derivative. Refer to Note 22 for further discussion of significant inputs and assumptions used in the valuation of this instrument.

The Bancorp entered into certain interest rate swap contracts for the purpose of managing its collateral positions across two central clearing parties. These interest rate swaps were perfectly offsetting positions that allowed the Bancorp to lower the cash posted as required initial margin at the clearing parties, which reduced its credit exposure to the clearing parties. Given that all relevant terms for these interest rate swaps are offsetting, these trades create no additional market risk for the Bancorp.

As part of the LIBOR to SOFR transition, the Bancorp received certain interest rate swap contracts from the two central clearing parties that are moving from an Effective Federal Funds Rate discounting curve to a SOFR discounting curve. The purpose of these interest rate swaps was to neutralize the impact on collateral requirements due to the change in discounting curves implemented by the central clearing parties.

The net (losses) gains recorded in the Condensed Consolidated Statements of Income relating to free-standing derivative instruments used for risk management and other business purposes are summarized in the following table:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Interest rate contracts:
Forward contracts related to residential mortgage loans held for sale	Mortgage banking net revenue	$	(9)	33
Interest rate contracts related to MSR portfolio	Mortgage banking net revenue	21		(181)
Foreign exchange contracts:
Foreign exchange contracts for risk management purposes	Other noninterest income	—		(2)
Equity contracts:
Swap associated with sale of Visa, Inc. Class B Shares	Other noninterest income	(31)		(11)

Free-Standing Derivative Instruments – Customer Accommodation

The majority of the free-standing derivative instruments the Bancorp enters into are for the benefit of its commercial customers. These derivative contracts are not designated against specific assets or liabilities on the Condensed Consolidated Balance Sheets or to forecasted transactions and, therefore, do not qualify for hedge accounting. These instruments include foreign exchange derivative contracts entered into for the benefit of commercial customers involved in international trade to hedge their exposure to foreign currency fluctuations, commodity contracts to hedge such items as natural gas and various other derivative contracts. The Bancorp may economically hedge significant exposures related to these derivative contracts entered into for the benefit of customers by entering into offsetting contracts with approved, reputable, independent counterparties with substantially matching terms. The Bancorp hedges its interest rate exposure on commercial customer transactions by executing offsetting swap agreements with primary dealers. Revaluation gains and losses on interest rate, foreign exchange, commodity and other commercial customer derivative contracts are recorded as a component of commercial banking revenue or other noninterest income in the Condensed Consolidated Statements of Income.

The Bancorp enters into risk participation agreements, under which the Bancorp assumes credit exposure relating to certain underlying interest rate derivative contracts. The Bancorp only enters into these risk participation agreements in instances in which the Bancorp has participated in the loan that the underlying interest rate derivative contract was designed to hedge. The Bancorp will make payments under these agreements if a customer defaults on its obligation to perform under the terms of the underlying interest rate derivative contract. The total notional amount of the risk participation agreements was $3.9 billion and $3.7 billion at March 31, 2023 and December 31, 2022,

respectively, and the fair value was a liability of $8 million and $7 million at March 31, 2023 and December 31, 2022, respectively, which is included in other liabilities in the Condensed Consolidated Balance Sheets. As of March 31, 2023, the risk participation agreements had a weighted-average remaining life of 3.5 years.

The Bancorp’s maximum exposure in the risk participation agreements is contingent on the fair value of the underlying interest rate derivative contracts in an asset position at the time of default. The Bancorp monitors the credit risk associated with the underlying customers in the risk participation agreements through the same risk grading system currently utilized for establishing loss reserves in its loan and lease portfolio.

Risk ratings of the notional amount of risk participation agreements under this risk rating system are summarized in the following table as of:


($ in millions)	March 31, 2023		December 31, 2022
Pass	$	3,738	3,597
Special mention	61		81
Substandard	72		32
Total	$	3,871	3,710

The net gains (losses) recorded in the Condensed Consolidated Statements of Income relating to free-standing derivative instruments used for customer accommodation are summarized in the following table:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Interest rate contracts:
Interest rate contracts for customers (contract revenue)	Commercial banking revenue	$	10	16

Interest rate contracts for customers (credit portion of fair value adjustment)	Other noninterest expense	(3)		6
Interest rate lock commitments	Mortgage banking net revenue	13		—
Commodity contracts:
Commodity contracts for customers (contract revenue)	Commercial banking revenue	10		9
Commodity contracts for customers (credit portion of fair value adjustment)	Other noninterest expense	(1)		(1)

Foreign exchange contracts:
Foreign exchange contracts for customers (contract revenue)	Commercial banking revenue	19		16
Foreign exchange contracts for customers (contract revenue)	Other noninterest income	(3)		2
Foreign exchange contracts for customers (credit portion of fair value adjustment)	Other noninterest expense	1		(1)

Offsetting Derivative Financial Instruments

The Bancorp’s derivative transactions are generally governed by ISDA Master Agreements and similar arrangements, which include provisions governing the setoff of assets and liabilities between the parties. When the Bancorp has more than one outstanding derivative transaction with a single counterparty, the setoff provisions contained within these agreements generally allow the non-defaulting party the right to reduce its liability to the defaulting party by amounts eligible for setoff, including the collateral received as well as eligible offsetting transactions with that counterparty, irrespective of the currency, place of payment or booking office. The Bancorp’s policy is to present its derivative assets and derivative liabilities on the Condensed Consolidated Balance Sheets on a gross basis, even when provisions allowing for setoff are in place. However, for derivative contracts cleared through certain central clearing parties who have modified their rules to treat variation margin payments as settlements, the fair value of the respective derivative contracts is reported net of the variation margin payments.

Collateral amounts included in the tables below consist primarily of cash and highly rated government-backed securities and do not include variation margin payments for derivative contracts with legal rights of setoff for both periods shown.

The following table provides a summary of offsetting derivative financial instruments:


	Gross Amount Recognized in the Condensed Consolidated Balance Sheets(a)		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
			Derivatives	Collateral(b)	Net Amount
As of March 31, 2023
Derivative assets	$	2,750	(1,096)	(894)	760
Derivative liabilities	3,300		(1,096)	(219)	1,985
As of December 31, 2022
Derivative assets	$	3,171	(1,405)	(887)	879
Derivative liabilities	3,951		(1,405)	(406)	2,140

(a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements.

(b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Condensed Consolidated Balance Sheets were excluded from this table.

Other Short-Term Borrowings

3 Months Ended

Mar. 31, 2023

Short-Term Debt [Abstract]

Other Short-Term Borrowings

Borrowings with original maturities of one year or less are classified as short-term. The following table presents a summary of the Bancorp’s other short-term borrowings as of:


($ in millions)	March 31, 2023		December 31, 2022
FHLB advances	$	6,800	4,300
Securities sold under repurchase agreements	330		388
Derivative collateral	208		124
Other borrowed money	26		26
Total other short-term borrowings	$	7,364	4,838

The Bancorp’s securities sold under repurchase agreements are accounted for as secured borrowings and are collateralized by securities included in available-for-sale debt and other securities in the Condensed Consolidated Balance Sheets. These securities are subject to changes in market value and, therefore, the Bancorp may increase or decrease the level of securities pledged as collateral based upon these movements in market value. As of both March 31, 2023 and December 31, 2022, all securities sold under repurchase agreements were secured by agency residential mortgage-backed securities and the repurchase agreements had an overnight remaining contractual maturity.

Capital Actions

3 Months Ended

Mar. 31, 2023

Capital Actions

Accelerated Share Repurchase Transaction

During the three months ended March 31, 2023, the Bancorp entered into and settled an accelerated share repurchase transaction. As part of the transaction, the Bancorp entered into a forward contract in which the final number of shares delivered at settlement was based generally on a discount to the average daily volume weighted-average price of the Bancorp’s common stock during the term of the repurchase agreement. The accelerated share repurchase was treated as two separate transactions, (i) the repurchase of treasury shares on the repurchase date and (ii) a forward contract indexed to the Bancorp’s common stock.

The following table presents a summary of the Bancorp’s accelerated share repurchase transaction that was entered into and settled during the three months ended March 31, 2023:

Repurchase Date

Amount
($ in millions)

Shares Repurchased on Repurchase Date

Shares Received from Forward Contract Settlement

Total Shares Repurchased

Final Settlement Date

January 24, 2023

$

200

4,911,875

678,121

5,589,996

March 06, 2023

The entire disclosure for equity.

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Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingent Liabilities and Guarantees

3 Months Ended

Mar. 31, 2023

Commitments, Contingent Liabilities and Guarantees

The Bancorp, in the normal course of business, enters into financial instruments and various agreements to meet the financing needs of its customers. The Bancorp also enters into certain transactions and agreements to manage its interest rate and prepayment risks, provide funding, equipment and locations for its operations and invest in its communities. These instruments and agreements involve, to varying degrees, elements of credit risk, counterparty risk and market risk in excess of the amounts recognized in the Condensed Consolidated Balance Sheets. The creditworthiness of counterparties for all instruments and agreements is evaluated on a case-by-case basis in accordance with the Bancorp’s credit policies. The Bancorp’s significant commitments, contingent liabilities and guarantees in excess of the amounts recognized in the Condensed Consolidated Balance Sheets are discussed in the following sections.

Commitments

The Bancorp has certain commitments to make future payments under contracts. The following table reflects a summary of significant commitments as of:


($ in millions)	March 31, 2023		December 31, 2022
Commitments to extend credit	$	84,732	83,437
Letters of credit	2,046		2,009
Forward contracts related to residential mortgage loans held for sale	960		1,869
Capital commitments for private equity investments	173		163
Purchase obligations	102		113
Capital expenditures	97		94

Commitments to extend credit

Commitments to extend credit are agreements to lend, typically having fixed expiration dates or other termination clauses that may require payment of a fee. Since many of the commitments to extend credit may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. The Bancorp is exposed to credit risk in the event of nonperformance by the counterparty for the amount of the contract. Fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and the Bancorp’s exposure is limited to the replacement value of those commitments. As of March 31, 2023 and December 31, 2022, the Bancorp had a reserve for unfunded commitments, including letters of credit, totaling $232 million and $216 million, respectively, included in other liabilities in the Condensed Consolidated Balance Sheets. The Bancorp monitors the credit risk associated with commitments to extend credit using the same standard regulatory risk rating systems utilized for its loan and lease portfolio.

Risk ratings of outstanding commitments to extend credit under this risk rating system are summarized in the following table as of:


($ in millions)	March 31, 2023		December 31, 2022
Pass	$	82,677	81,345
Special mention	756		976
Substandard	1,299		1,116

Total commitments to extend credit	$	84,732	83,437

Letters of credit

Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party and expire as summarized in the following table as of March 31, 2023:


($ in millions)
Less than 1 year(a)	$	988
1 - 5 years(a)	1,047
Over 5 years	11
Total letters of credit	$	2,046

(a)Includes $2 and $3 issued on behalf of commercial customers to facilitate trade payments in U.S. dollars and foreign currencies which expire in less than 1 year and between 1 - 5 years, respectively.

Standby letters of credit accounted for approximately 99% of total letters of credit at both March 31, 2023 and December 31, 2022 and are considered guarantees in accordance with U.S. GAAP. Approximately 67% of the total standby letters of credit were collateralized as of both March 31, 2023 and December 31, 2022. In the event of nonperformance by the customers, the Bancorp has rights to the underlying collateral, which can include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities. The reserve related to these standby letters of credit, which was included in the total reserve for unfunded commitments, was $22 million at both March 31, 2023 and December 31, 2022. The Bancorp monitors the credit risk associated with letters of credit using the same standard regulatory risk rating systems utilized for its loan and lease portfolio.

Risk ratings of outstanding letters of credit under this risk rating system are summarized in the following table as of:


($ in millions)	March 31, 2023		December 31, 2022
Pass	$	1,849	1,827
Special mention	58		47
Substandard	138		135
Doubtful	1		—
Total letters of credit	$	2,046	2,009

At March 31, 2023 and December 31, 2022, the Bancorp had outstanding letters of credit that were supporting certain securities issued as VRDNs. The Bancorp facilitates financing for its commercial customers, which consist of companies and municipalities, by marketing the VRDNs to investors. The VRDNs pay interest to holders at a rate of interest that fluctuates based upon market demand. The VRDNs generally have long-term maturity dates, but can be tendered by the holder for purchase at par value upon proper advance notice. When the VRDNs are tendered, a remarketing agent generally finds another investor to purchase the VRDNs to keep the securities outstanding in the market. As of March 31, 2023 and December 31, 2022, total VRDNs, of which FTS was the remarketing agent for all, were $421 million and $423 million, respectively. As remarketing agent, FTS is responsible for actively remarketing VRDNs to other investors when they have been tendered. If another investor is not identified, FTS may choose to purchase the VRDNs into inventory at its discretion while it continues to remarket them. If FTS purchases the VRDNs into inventory, it can subsequently tender back the VRDNs to the issuer’s trustee with proper advance notice. The Bancorp issued letters of credit, as a credit enhancement, to $100 million and $102 million of the VRDNs remarketed by FTS at March 31, 2023 and December 31, 2022, respectively. These letters of credit are included in the total letters of credit balance provided in the previous tables. The Bancorp held $5 million and $3 million of these VRDNs in its portfolio and classified them as trading debt securities at March 31, 2023 and December 31, 2022, respectively.

Forward contracts related to residential mortgage loans held for sale

The Bancorp enters into forward contracts to economically hedge the change in fair value of certain residential mortgage loans held for sale due to changes in interest rates. The outstanding notional amounts of these forward contracts are included in the summary of significant commitments table for all periods presented.

Other commitments

The Bancorp has entered into a limited number of agreements for work related to banking center construction and to purchase goods or services.

Contingent Liabilities

Legal claims

There are legal claims pending against the Bancorp and its subsidiaries that have arisen in the normal course of business. Refer to Note 18 for additional information regarding these proceedings.

Guarantees

The Bancorp has performance obligations upon the occurrence of certain events under financial guarantees provided in certain contractual arrangements as discussed in the following sections.

Residential mortgage loans sold with representation and warranty provisions

Conforming residential mortgage loans sold to unrelated third parties are generally sold with representation and warranty provisions. A contractual liability arises only in the event of a breach of these representations and warranties and, in general, only when a loss results from the breach. The Bancorp may be required to repurchase any previously sold loan, or indemnify or make whole the investor or insurer for which the representation or warranty of the Bancorp proves to be inaccurate, incomplete or misleading. For more information on how the Bancorp establishes the residential mortgage repurchase reserve, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022.

As of both March 31, 2023 and December 31, 2022, the Bancorp maintained reserves related to loans sold with representation and warranty provisions totaling $9 million included in other liabilities in the Condensed Consolidated Balance Sheets.

The Bancorp uses the best information available when estimating its mortgage representation and warranty reserve; however, the estimation process is inherently uncertain and imprecise and, accordingly, losses in excess of the amounts reserved as of March 31, 2023 are reasonably possible. The Bancorp currently estimates that it is reasonably possible that it could incur losses related to mortgage representation and warranty provisions in an amount up to approximately $12 million in excess of amounts reserved. This estimate was derived by modifying the key assumptions to reflect management’s judgment regarding reasonably possible adverse changes to those assumptions. The actual

repurchase losses could vary significantly from the recorded mortgage representation and warranty reserve or this estimate of reasonably possible losses, depending on the outcome of various factors, including those previously discussed.

During both the three months ended March 31, 2023 and 2022, the Bancorp paid an immaterial amount in the form of make-whole payments and repurchased $18 million and $14 million, respectively, in outstanding principal of loans to satisfy investor demands. Total repurchase demand requests during the three months ended March 31, 2023 and 2022 were $36 million and $23 million, respectively. Total outstanding repurchase demand inventory was $23 million and $25 million at March 31, 2023 and December 31, 2022, respectively.

Margin accounts

FTS, an indirect wholly-owned subsidiary of the Bancorp, guarantees the collection of all margin account balances held by its brokerage clearing agent for the benefit of its customers. FTS is responsible for payment to its brokerage clearing agent for any loss, liability, damage, cost or expense incurred as a result of customers failing to comply with margin or margin maintenance calls on all margin accounts. The margin account balances held by the brokerage clearing agent were $14 million at both March 31, 2023 and December 31, 2022. In the event of customer default, FTS has rights to the underlying collateral provided. Given the existence of the underlying collateral provided and negligible historical credit losses, the Bancorp does not maintain a loss reserve related to the margin accounts.

Long-term borrowing obligations

The Bancorp had certain fully and unconditionally guaranteed long-term borrowing obligations issued by wholly-owned issuing trust entities of $62 million at both March 31, 2023 and December 31, 2022.

Visa litigation

The Bancorp, as a member bank of Visa prior to Visa’s reorganization and IPO (the “IPO”) of its Class A common shares (the “Class A Shares”) in 2008, had certain indemnification obligations pursuant to Visa’s certificate of incorporation and bylaws and in accordance with its membership agreements. In accordance with Visa’s bylaws prior to the IPO, the Bancorp could have been required to indemnify Visa for the Bancorp’s proportional share of losses based on the pre-IPO membership interests. As part of its reorganization and IPO, the Bancorp’s indemnification obligation was modified to include only certain known or anticipated litigation (the “Covered Litigation”) as of the date of the restructuring. This modification triggered a requirement for the Bancorp to recognize a liability equal to the fair value of the indemnification liability.

In conjunction with the IPO, the Bancorp received 10.1 million of Visa’s Class B common shares (the “Class B Shares”) based on the Bancorp’s membership percentage in Visa prior to the IPO. The Class B Shares are not transferable (other than to another member bank) until the later of the third anniversary of the IPO closing or the date on which the Covered Litigation has been resolved; therefore, the Bancorp’s Class B Shares were classified in other assets and accounted for at their carryover basis of $0. Visa deposited $3 billion of the proceeds from the IPO into a litigation escrow account, established for the purpose of funding judgments in, or settlements of, the Covered Litigation. Since then, when Visa’s litigation committee determined that the escrow account was insufficient, Visa issued additional Class A Shares and deposited the proceeds from the sale of the Class A Shares into the litigation escrow account. When Visa funded the litigation escrow account, the Class B Shares were subjected to dilution through an adjustment in the conversion rate of Class B Shares into Class A Shares.

In 2009, the Bancorp completed the sale of Visa, Inc. Class B Shares and entered into a total return swap in which the Bancorp will make or receive payments based on subsequent changes in the conversion rate of the Class B Shares into Class A Shares. The swap terminates on the later of the third anniversary of Visa’s IPO or the date on which the Covered Litigation is settled. Refer to Note 22 for additional information on the valuation of the swap. The counterparty to the swap as a result of its ownership of the Class B Shares will be impacted by dilutive adjustments to the conversion rate of the Class B Shares into Class A Shares caused by any Covered Litigation losses in excess of the litigation escrow account. If actual judgments in, or settlements of, the Covered Litigation significantly exceed current expectations, then additional funding by Visa of the litigation escrow account and the resulting dilution of the Class B Shares could result in a scenario where the Bancorp’s ultimate exposure associated with the Covered Litigation (the “Visa Litigation Exposure”) exceeds the value of the Class B Shares owned by the swap counterparty (the “Class B Value”). In the event the Bancorp concludes that it is probable that the Visa Litigation Exposure exceeds the Class B Value, the Bancorp would record a litigation reserve liability and a corresponding amount of other noninterest expense for the amount of the excess. Any such litigation reserve liability would be separate and distinct from the fair value derivative liability associated with the total return swap.

As of the date of the Bancorp’s sale of the Visa Class B Shares and through March 31, 2023, the Bancorp has concluded that it is not probable that the Visa Litigation Exposure will exceed the Class B value. Based on this determination, upon the sale of Class B Shares, the Bancorp reversed its net Visa litigation reserve liability and recognized a free-standing derivative liability associated with the total return swap. The fair value of the swap liability was $192 million at March 31, 2023 and $195 million at December 31, 2022. Refer to Note 14 and Note 22 for further information.

After the Bancorp’s sale of the Class B Shares, Visa has funded additional amounts into the litigation escrow account which have resulted in further dilutive adjustments to the conversion of Class B Shares into Class A Shares, and along with other terms of the total return swap, required the Bancorp to make cash payments in varying amounts to the swap counterparty as follows:


Period ($ in millions)	Visa Funding Amount		Bancorp Cash Payment Amount
Q2 2010	$	500	20
Q4 2010	800		35
Q2 2011	400		19
Q1 2012	1,565		75
Q3 2012	150		6
Q3 2014	450		18
Q2 2018	600		26
Q3 2019	300		12
Q4 2021	250		11
Q2 2022	600		25
Q4 2022	350		15

Legal and Regulatory Proceedings	3 Months Ended
Legal and Regulatory Proceedings	Mar. 31, 2023
Loss Contingency [Abstract]
Legal and Regulatory Proceedings	Legal and Regulatory Proceedings Litigation Visa/MasterCard Merchant Interchange Litigation In April 2006, the Bancorp was added as a defendant in a consolidated antitrust class action lawsuit originally filed against Visa®, MasterCard® and several other major financial institutions in the United States District Court for the Eastern District of New York (In re: Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, Case No. 5-MD-1720). The plaintiffs, merchants operating commercial businesses throughout the U.S. and trade associations, claimed that the interchange fees charged by card-issuing banks were unreasonable and sought injunctive relief and unspecified damages. In addition to being a named defendant, the Bancorp is currently also subject to a possible indemnification obligation of Visa as discussed in Note 17 and has also entered into judgment and loss sharing agreements with Visa, MasterCard and certain other named defendants. In October 2012, the parties to the litigation entered into a settlement agreement that was initially approved by the trial court but reversed by the U.S. Second Circuit Court of Appeals and remanded to the district court for further proceedings. More than 500 of the merchants who requested exclusion from the class filed separate federal lawsuits against Visa, MasterCard and certain other defendants alleging similar antitrust violations. These individual federal lawsuits were transferred to the United States District Court for the Eastern District of New York. While the Bancorp is only named as a defendant in one of the individual federal lawsuits, it may have obligations pursuant to indemnification arrangements and/or the judgment or loss sharing agreements noted above. On September 17, 2018, the defendants in the consolidated class action signed a second settlement agreement (the “Amended Settlement Agreement”) resolving the claims seeking monetary damages by the proposed plaintiffs’ class (the “Plaintiff Damages Class”) and superseding the original settlement agreement entered into in October 2012. The Amended Settlement Agreement included, among other terms, a release from participating class members for liability for claims that accrue no later than five years after the Amended Settlement Agreement becomes final. The Amended Settlement Agreement provided for a total payment by all defendants of approximately $6.24 billion, composed of approximately $5.34 billion held in escrow plus an additional $900 million in new funds. Pursuant to the terms of the Settlement Agreement, $700 million of the additional $900 million has been returned to the defendants due to the level of opt-outs from the class. The Bancorp’s allocated share of the settlement is within existing reserves, including funds maintained in escrow. On December 13, 2019, the Court entered an order granting final approval for the settlement, and on March 15, 2023, the Second Circuit affirmed that order. The settlement does not resolve the claims of the separate proposed plaintiffs’ class seeking injunctive relief or the claims of merchants who have opted out of the proposed class settlement and are pursuing, or may in the future decide to pursue, private lawsuits. On September 27, 2021, the Court entered an order certifying a class of merchants pursuing claims for injunctive relief. The ultimate outcome in this matter, including the timing of resolution, remains uncertain. Refer to Note 17 for further information. Klopfenstein v. Fifth Third Bank On August 3, 2012, William Klopfenstein and Adam McKinney filed a lawsuit against Fifth Third Bank in the United States District Court for the Northern District of Ohio (Klopfenstein et al. v. Fifth Third Bank), alleging that the 120% APR that Fifth Third disclosed on its Early Access program was misleading. Early Access is a deposit-advance program offered to eligible customers with checking accounts. The plaintiffs sought to represent a nationwide class of customers who used the Early Access program and repaid their cash advances within 30 days. On October 31, 2012, the case was transferred to the United States District Court for the Southern District of Ohio. In 2013, four similar putative class action lawsuits were filed against Fifth Third Bank in federal courts throughout the country (Lori and Danielle Laskaris v. Fifth Third Bank, Janet Fyock v. Fifth Third Bank, Jesse McQuillen v. Fifth Third Bank, and Brian Harrison v. Fifth Third Bank). Those four lawsuits were transferred to the Southern District of Ohio and consolidated with the original lawsuit as In re: Fifth Third Early Access Cash Advance Litigation (Case No. 1:12-CV-851). On behalf of a putative class, the plaintiffs sought unspecified monetary and statutory damages, injunctive relief, punitive damages, attorneys’ fees, and pre- and post-judgment interest. On March 30, 2015, the court dismissed all claims alleged in the consolidated lawsuit except a claim under the TILA. On May 28, 2019, the Sixth Circuit Court of Appeals reversed the dismissal of plaintiffs’ breach of contract claim and remanded for further proceedings. The plaintiffs’ claimed damages for the alleged breach of contract claim exceed $440 million, plus prejudgment interest. On March 26, 2021, the trial court granted plaintiffs’ motion for class certification. On March 29, 2023, the trial court issued an order granting summary judgement on plaintiffs’ TILA claim, with statutory damages capped at $2 million plus costs and attorney fees. Plaintiffs’ claim for breach of contract proceeded to trial beginning on April 17, 2023. On April 27, 2023, the jury returned a verdict in favor of the Bank, finding a breach of contract, but that the voluntary payment doctrine is a complete defense to the breach of contract claim. Fifth Third expects plaintiffs to appeal. Bureau of Consumer Financial Protection v. Fifth Third Bank, National Association On March 9, 2020, the CFPB filed a lawsuit against Fifth Third in the United States District Court for the Northern District of Illinois entitled CFPB v. Fifth Third Bank, National Association, Case No. 1:20-CV-1683 (N.D. Ill.) (ABW), alleging violations of the Consumer Financial Protection Act, TILA, and Truth in Savings Act related to Fifth Third’s alleged opening of unspecified numbers of allegedly unauthorized credit card, savings, checking, online banking and early access accounts from 2010 through 2016. The CFPB seeks unspecified amounts of civil monetary penalties as well as unspecified customer remediation. On February 12, 2021, the court granted Fifth Third’s motion to transfer venue to the United States District Court for the Southern District of Ohio. The case is currently in discovery and no trial date has been set. Shareholder Litigation On July 31, 2020, a putative shareholder class action lawsuit captioned Dr. Steven Fox, individually and on behalf of all others similarly situated v. Fifth Third Bancorp, et al., Case No. 2020CH05219 was filed on behalf of former shareholders of MB Financial, Inc. in the Cook County, Illinois Circuit Court. The suit brings claims for violation of Sections 11 and 12(a)(2) of the Securities Act of 1933, alleging that the Bancorp and certain of its officers and directors made material misstatements and omissions regarding an alleged improper cross-selling strategy in filings made in connection with the Bancorp’s merger with MB Financial, Inc. On March 19, 2021, the trial court denied the defendants’ motion to dismiss. The parties have reached an agreement in principle to resolve the matter, subject to documentation and court approval. The Bancorp does not expect the settlement to have a material impact on the Bancorp’s Condensed Consolidated Financial Statements. In addition, shareholder derivative lawsuits have been filed seeking monetary damages on behalf of the Bancorp alleging certain claims against various officers and directors relating to an alleged improper cross-selling strategy. Five lawsuits have been consolidated into a single action pending in the U.S. District Court for the Northern District of Illinois captioned In re Fifth Third Bancorp Derivative Litigation, Case No. 1:20-cv-04115. Those cases consist of: (1) Pemberton v. Carmichael, et al., Case No. 20-cv-4115 (filed July 13, 2020); (2) Meyer v. Carmichael, et al., Case No. 20-cv-4244 (filed July 17, 2020); (3) Cox v. Carmichael, et al., Case No. 20-cv-4660 (filed August 7, 2020); (4) Hansen v. Carmichael, et al., Case No. 20-cv-5339 (filed September 10, 2020); and (5) Reese v. Carmichael, et al., Case No. 1:21-cv-01631 (filed November 4, 2020 originally as Case No. 20-cv-866 in the Southern District of Ohio). On March 31, 2022, the district court granted the defendants’ motion to dismiss those cases without prejudice. On April 29, 2022, plaintiffs filed an amended complaint. On March 8, 2023, the district court granted the defendants’ motion to dismiss the amended complaint with prejudice. There was no appeal, so the case is terminated. Also separately pending in the Hamilton County, Ohio Court of Common Pleas is Sandys v. Carmichael, et al., Case No. A2004539 (filed December 28, 2020) and The City of Miami Firefighters’ and Police Officers’ Retirement Trust v. Carmichael, et al., Case No. A2200330 (filed January 27, 2022). On April 18, 2022, the Sandys shareholder voluntarily dismissed the lawsuit without prejudice. The case brought by The City of Miami Firefighters’ and Police Officers’ Retirement Trust is pending. The Bancorp has also received several shareholder demands under Ohio Rev. Code § 1701.37(c) and lawsuits have been filed arising out of the same. Finally, the Bancorp has received shareholder demands that the Bancorp’s Board of Directors investigate and commence a civil action for failure to detect and/or prevent the alleged illegal cross-selling strategy. Howards v. Fifth Third Bank On March 8, 2018, Plaintiff Troy Howards filed a putative class action against Fifth Third Bank in the United States District Court for the Central District of California (Case No. 1:18-CV-869, S.D. OH 2018), alleging that Fifth Third improperly charged certain fees related to insufficient funds, customer overdrafts, and out-of-network ATM use. Venue was subsequently transferred to the United States District Court for the Southern District of Ohio. Plaintiff filed claims for breach of contract, breach of the implied covenant of good faith and fair dealing, for violation of the California Unfair Competition Law (Ca. Bus. & Prof. Code sec. 17200, et seq)., and the California Consumer Legal Remedies Act (Cal. Civ. Code sec. 1750 et seq.). Plaintiff seeks to represent putative nationwide classes and California classes of consumers allegedly charged improper repeated insufficient funds fees, improper overdraft fees, and fees for out-of-network ATM use from the beginning of the applicable statute of limitations to present. Plaintiff seeks damages of restitution and disgorgement in the amount of the allegedly unlawfully charged fees, damages proved at trial together with interest as allowed by applicable law. Fifth Third filed a motion to dismiss all claims. On February 6, 2023, the trial court issued an order dismissing the Plaintiff’s breach of contract claim with respect to out-of-network ATM fees and dismissing the two claims for violations of California consumer protection statutes. The Court denied Fifth Third’s motion to dismiss as it relates to the claims for breach of contract and breach of the implied covenant of good faith and fair dealing for certain customer overdrafts and insufficient funds fees. The case is now set to begin discovery, and no trial date has been set. Other litigation The Bancorp and its subsidiaries are not parties to any other material litigation. However, there are other litigation matters that arise in the normal course of business. While it is impossible to ascertain the ultimate resolution or range of financial liability with respect to these contingent matters, management believes that the resulting liability, if any, from these other actions would not have a material effect upon the Bancorp’s consolidated financial position, results of operations or cash flows. Governmental Investigations and Proceedings The Bancorp and/or its affiliates are or may become involved in information-gathering requests, reviews, investigations and proceedings (both formal and informal) by various governmental regulatory agencies and law enforcement authorities, including but not limited to the FRB, OCC, CFPB, SEC, FINRA, U.S. Department of Justice, etc., as well as state and other governmental authorities and self-regulatory bodies regarding their respective businesses. For example, the Bancorp’s broker-dealer and investment advisory subsidiaries are cooperating with an investigation by the SEC regarding compliance with certain record-keeping requirements for business-related electronic communications on unapproved channels. Likewise, the Commodity Futures Trading Commission (“CFTC”) is conducting a similar investigation into the Bancorp’s provisionally registered swap dealer. The SEC and CFTC are conducting similar investigations of record-keeping practices at other financial institutions. Additional matters will likely arise from time to time. Any of these matters may result in material adverse consequences or reputational harm to the Bancorp, its affiliates and/or their respective directors, officers and other personnel, including adverse judgments, findings, settlements, fines, penalties, orders, injunctions or other actions, amendments and/or restatements of the Bancorp’s SEC filings and/or financial statements, as applicable, and/or determinations of material weaknesses in our disclosure controls and procedures. Investigations by regulatory authorities may from time to time result in civil or criminal referrals to law enforcement. Additionally, in some cases, regulatory authorities may take supervisory actions that are considered to be confidential supervisory information which may not be publicly disclosed. Reasonably Possible Losses in Excess of Accruals The Bancorp and its subsidiaries are parties to numerous claims and lawsuits as well as threatened or potential actions or claims concerning matters arising from the conduct of its business activities. The outcome of claims or litigation and the timing of ultimate resolution are inherently difficult to predict. The following factors, among others, contribute to this lack of predictability: claims often include significant legal uncertainties, damages alleged by plaintiffs are often unspecified or overstated, discovery may not have started or may not be complete and material facts may be disputed or unsubstantiated. As a result of these factors, the Bancorp is not always able to provide an estimate of the range of reasonably possible outcomes for each claim. An accrual for a potential litigation loss is established when information related to the loss contingency indicates both that a loss is probable and that the amount of loss can be reasonably estimated. Any such accrual is adjusted from time to time thereafter as appropriate to reflect changes in circumstances. The Bancorp also determines, when possible (due to the uncertainties described above), estimates of reasonably possible losses or ranges of reasonably possible losses, in excess of amounts accrued. Under U.S. GAAP, an event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely” and an event is “remote” if “the chance of the future event or events occurring is slight.” Thus, references to the upper end of the range of reasonably possible loss for cases in which the Bancorp is able to estimate a range of reasonably possible loss mean the upper end of the range of loss for cases for which the Bancorp believes the risk of loss is more than slight. For matters where the Bancorp is able to estimate such possible losses or ranges of possible losses, the Bancorp currently estimates that it is reasonably possible that it could incur losses related to legal and regulatory proceedings in an aggregate amount up to approximately $151 million in excess of amounts accrued, with it also being reasonably possible that no losses will be incurred in these matters. The estimates included in this amount are based on the Bancorp’s analysis of currently available information, and as new information is obtained the Bancorp may change its estimates. For these matters and others where an unfavorable outcome is reasonably possible but not probable, there may be a range of possible losses in excess of the established accrual that cannot be estimated. Based on information currently available, advice of counsel, available insurance coverage and established accruals, the Bancorp believes that the eventual outcome of the actions against the Bancorp and/or its subsidiaries, including the matters described above, will not, individually or in the aggregate, have a material adverse effect on the Bancorp’s consolidated financial position. However, in the event of unexpected future developments, it is possible that the ultimate resolution of those matters, if unfavorable, may be material to the Bancorp’s results of operations for any particular period, depending, in part, upon the size of the loss or liability imposed and the operating results for the applicable period.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The applicable income tax expense was $160 million and $118 million for the three months ended March 31, 2023 and 2022, respectively. The effective tax rates for the three months ended March 31, 2023 and 2022 were 22.3% and 19.2%, respectively. While it is reasonably possible that the amount of the unrecognized tax benefits with respect to certain of the Bancorp’s uncertain tax positions could increase or decrease during the next twelve months, the Bancorp believes it is unlikely that its unrecognized tax benefits will change by a material amount during the next twelve months.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2023

Accumulated Other Comprehensive Income

The tables below present the activity of the components of OCI and AOCI for the three months ended:


	Total OCI				Total AOCI
March 31, 2023 ($ in millions)	Pre-tax Activity		Tax Effect	Net Activity	Beginning Balance	Net Activity	Ending Balance
Unrealized holding gains on available-for-sale debt securities arising during period	$	788	(188)	600
Reclassification adjustment for net gains on available-for-sale debt securities included in net income	—		—	—
Net unrealized losses on available-for-sale debt securities	788		(188)	600	(4,589)	600	(3,989)

Unrealized holding gains on cash flow hedge derivatives arising during period	278		(63)	215
Reclassification adjustment for net losses on cash flow hedge derivatives included in net income	65		(15)	50
Net unrealized losses on cash flow hedge derivatives	343		(78)	265	(498)	265	(233)


Reclassification of amounts to net periodic benefit costs	—		—	—
Defined benefit pension plans, net	—		—	—	(19)	—	(19)

Other	—		—	—	(4)	—	(4)
Total	$	1,131	(266)	865	(5,110)	865	(4,245)


	Total OCI				Total AOCI
March 31, 2022 ($ in millions)	Pre-tax Activity		Tax Effect	Net Activity	Beginning Balance	Net Activity	Ending Balance
Unrealized holding losses on available-for-sale debt securities arising during period	$	(2,505)	576	(1,929)
Reclassification adjustment for net gains on available-for-sale debt securities included in net income	(3)		1	(2)
Net unrealized losses on available-for-sale debt securities	(2,508)		577	(1,931)	891	(1,931)	(1,040)

Unrealized holding losses on cash flow hedge derivatives arising during period	(407)		94	(313)
Reclassification adjustment for net gains on cash flow hedge derivatives included in net income	(78)		18	(60)
Net unrealized losses on cash flow hedge derivatives	(485)		112	(373)	353	(373)	(20)


Reclassification of amounts to net periodic benefit costs	1		—	1
Defined benefit pension plans, net	1		—	1	(33)	1	(32)

Other	—		—	—	(4)	—	(4)
Total	$	(2,992)	689	(2,303)	1,207	(2,303)	(1,096)

The table below presents reclassifications out of AOCI:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Net unrealized losses on available-for-sale debt securities:(b)
Net gains included in net income	Securities gains (losses), net	$	—	3
	Income before income taxes	—		3
	Applicable income tax expense	—		(1)
	Net income	—		2
Net unrealized losses on cash flow hedge derivatives:(b)
Interest rate contracts related to C&I, commercial mortgage and commercial construction loans	Interest and fees on loans and leases	(65)		78
	Income before income taxes	(65)		78
	Applicable income tax expense	15		(18)
	Net income	(50)		60
Net periodic benefit costs:(b)
Amortization of net actuarial loss	Compensation and benefits(a)	—		(1)

	Income before income taxes	—		(1)
	Applicable income tax expense	—		—
	Net income	—		(1)

Total reclassifications for the period	Net income	$	(50)	61

(a)This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 22 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022 for further information.

(b)Amounts in parentheses indicate reductions to net income.

Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

The following table provides the calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share:


	2023					2022
For the three months ended March 31, (in millions, except per share data)	Income		Average Shares	Per Share Amount		Income		Average Shares	Per Share Amount
Earnings Per Share:
Net income available to common shareholders	$	535				$	474
Less: Income allocated to participating securities	—					1
Net income allocated to common shareholders	$	535	684	$	0.78	$	473	688	$	0.69
Earnings Per Diluted Share:
Net income available to common shareholders	$	535				$	474
Effect of dilutive securities:
Stock-based awards	—		6			—		8
Net income available to common shareholders plus assumed conversions	$	535				$	474
Less: Income allocated to participating securities	—					1
Net income allocated to common shareholders plus assumed conversions	$	535	690	$	0.78	$	473	696	$	0.68

Shares are excluded from the computation of earnings per diluted share when their inclusion has an anti-dilutive effect on earnings per share. The diluted earnings per share computation for the three months ended March 31, 2023 and 2022 excludes 4 million and 1 million shares, respectively, of stock-based awards because their inclusion would have been anti-dilutive.

Fair Value Measurements

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Bancorp measures certain financial assets and liabilities at fair value in accordance with U.S. GAAP, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the instrument’s fair value measurement. For more information regarding the fair value hierarchy, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize assets and liabilities measured at fair value on a recurring basis as of:


	Fair Value Measurements Using
March 31, 2023 ($ in millions)	Level 1		Level 2	Level 3	Total Fair Value
Assets:
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,689	—	—	2,689
Obligations of states and political subdivisions securities	—		3	—	3
Mortgage-backed securities:
Agency residential mortgage-backed securities	—		11,073	—	11,073
Agency commercial mortgage-backed securities	—		26,183	—	26,183
Non-agency commercial mortgage-backed securities	—		4,550	—	4,550
Asset-backed securities and other debt securities	—		5,331	—	5,331
Available-for-sale debt and other securities(a)	2,689		47,140	—	49,829
Trading debt securities:
U.S. Treasury and federal agencies securities	669		18	—	687
Obligations of states and political subdivisions securities	—		49	—	49
Agency residential mortgage-backed securities	—		11	—	11
Asset-backed securities and other debt securities	—		427	—	427
Trading debt securities	669		505	—	1,174
Equity securities	311		12	—	323
Residential mortgage loans held for sale	—		599	—	599
Residential mortgage loans(b)	—		—	128	128
Servicing rights	—		—	1,725	1,725
Derivative assets:
Interest rate contracts	3		1,140	11	1,154
Foreign exchange contracts	—		450	—	450
Commodity contracts	125		1,028	—	1,153
Derivative assets(c)	128		2,618	11	2,757
Total assets	$	3,797	50,874	1,864	56,535
Liabilities:
Derivative liabilities:
Interest rate contracts	$	8	1,629	8	1,645
Foreign exchange contracts	—		407	—	407
Equity contracts	—		—	192	192
Commodity contracts	34		1,022	—	1,056
Derivative liabilities(d)	42		3,058	200	3,300
Short positions:
U.S. Treasury and federal agencies securities	74		—	—	74
Asset-backed securities and other debt securities	—		148	—	148
Short positions(d)	74		148	—	222
Total liabilities	$	116	3,206	200	3,522

(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $396, $491 and $3, respectively, at March 31, 2023.

(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.

(c)Included in other assets in the Condensed Consolidated Balance Sheets.

(d)Included in other liabilities in the Condensed Consolidated Balance Sheets.


	Fair Value Measurements Using
December 31, 2022 ($ in millions)	Level 1		Level 2	Level 3	Total Fair Value
Assets:
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,495	—	—	2,495
Obligations of states and political subdivisions securities	—		18	—	18
Mortgage-backed securities:
Agency residential mortgage-backed securities	—		11,237	—	11,237
Agency commercial mortgage-backed securities	—		26,322	—	26,322
Non-agency commercial mortgage-backed securities	—		4,715	—	4,715
Asset-backed securities and other debt securities	—		5,842	—	5,842
Available-for-sale debt and other securities(a)	2,495		48,134	—	50,629
Trading debt securities:
U.S. Treasury and federal agencies securities	23		22	—	45
Obligations of states and political subdivisions securities	—		14	—	14
Agency residential mortgage-backed securities	—		8	—	8
Asset-backed securities and other debt securities	—		347	—	347
Trading debt securities	23		391	—	414
Equity securities	306		11	—	317
Residential mortgage loans held for sale	—		600	—	600
Residential mortgage loans(b)	—		—	123	123
Servicing rights	—		—	1,746	1,746
Derivative assets:
Interest rate contracts	12		1,222	7	1,241
Foreign exchange contracts	—		454	—	454
Commodity contracts	56		1,422	—	1,478
Derivative assets(c)	68		3,098	7	3,173
Total assets	$	2,892	52,234	1,876	57,002
Liabilities:
Derivative liabilities:
Interest rate contracts	$	7	1,970	8	1,985
Foreign exchange contracts	—		422	—	422
Equity contracts	—		—	195	195
Commodity contracts	92		1,258	—	1,350
Derivative liabilities(d)	99		3,650	203	3,952
Short positions:
U.S. Treasury and federal agencies securities	66		—	—	66
Asset-backed securities and other debt securities	—		112	—	112
Short positions(d)	66		112	—	178
Total liabilities	$	165	3,762	203	4,130

(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $381, $491 and $2, respectively, at December 31, 2022.

(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.

(c)Included in other assets in the Condensed Consolidated Balance Sheets.

(d)Included in other liabilities in the Condensed Consolidated Balance Sheets.

The following is a description of the valuation methodologies used for significant instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Available-for-sale debt and other securities, trading debt securities and equity securities

Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities and equity securities. If quoted market prices are not available, then fair values are estimated using pricing models which primarily utilize quoted prices of securities with similar characteristics. Level 2 securities may include federal agencies securities, obligations of states and political subdivisions securities, agency residential mortgage-backed securities, agency and non-agency commercial mortgage-backed securities, asset-backed securities and other debt securities and equity securities. These securities are generally valued using a market approach based on observable prices of securities with similar characteristics.

Residential mortgage loans held for sale

For residential mortgage loans held for sale for which the fair value election has been made, fair value is estimated based upon mortgage-backed securities prices and spreads to those prices or, for certain ARM loans, DCF models that may incorporate the anticipated portfolio composition, credit spreads of asset-backed securities with similar collateral and market conditions. The anticipated portfolio composition includes the effect of interest rate spreads and discount rates due to loan characteristics such as the state in which the loan was originated, the loan amount and the ARM margin. Residential mortgage loans held for sale that are valued based on mortgage-backed securities prices are classified within Level 2 of the valuation hierarchy as the valuation is based on external pricing for similar instruments. ARM loans classified as held for sale are also classified within Level 2 of the valuation hierarchy due to the use of observable inputs in the DCF model. These observable inputs include interest rate spreads from agency mortgage-backed securities market rates and observable discount rates.

Residential mortgage loans

For residential mortgage loans for which the fair value election has been made, and that are reclassified from held for sale to held for investment, the fair value estimation is based on mortgage-backed securities prices, interest rate risk and an internally developed credit component. Therefore, these loans are transferred from Level 2 to Level 3 of the valuation hierarchy. An adverse change in the loss rate or severity assumption would result in a decrease in fair value of the related loans.

Servicing rights

MSRs do not trade in an active, open market with readily observable prices. While sales of MSRs do occur, the precise terms and conditions typically are not readily available. Accordingly, the Bancorp estimates the fair value of MSRs using internal OAS models with certain unobservable inputs, primarily prepayment speed assumptions, OAS and weighted-average lives, resulting in a classification within Level 3 of the valuation hierarchy. Refer to Note 13 for further information on the assumptions used in the valuation of the Bancorp’s MSRs.

Derivatives

Exchange-traded derivatives valued using quoted prices and certain over-the-counter derivatives valued using active bids are classified within Level 1 of the valuation hierarchy. Most of the Bancorp’s derivative contracts are valued using DCF or other models that incorporate current market interest rates, credit spreads assigned to the derivative counterparties and other market parameters and, therefore, are classified within Level 2 of the valuation hierarchy. Such derivatives include basic and structured interest rate, foreign exchange and commodity swaps and options. Derivatives that are valued based upon models with significant unobservable market parameters are classified within Level 3 of the valuation hierarchy. At March 31, 2023 and December 31, 2022, derivatives classified as Level 3, which are valued using models containing unobservable inputs, consisted primarily of a total return swap associated with the Bancorp’s sale of Visa, Inc. Class B Shares as well as IRLCs, which utilize internally generated loan closing rate assumptions as a significant unobservable input in the valuation process.

Under the terms of the total return swap, the Bancorp will make or receive payments based on subsequent changes in the conversion rate of the Visa, Inc. Class B Shares into Class A Shares. Additionally, the Bancorp will make a quarterly payment based on Visa’s stock price and the conversion rate of the Visa, Inc. Class B Shares into Class A Shares until the date on which the Covered Litigation is settled. The fair value of the total return swap was calculated using a DCF model based on unobservable inputs consisting of management’s estimate of the probability of certain litigation scenarios, the timing of the resolution of the Covered Litigation and Visa litigation loss estimates in excess, or shortfall, of the Bancorp’s proportional share of escrow funds.

An increase in the loss estimate or a delay in the resolution of the Covered Litigation would result in an increase in the fair value of the derivative liability; conversely, a decrease in the loss estimate or an acceleration of the resolution of the Covered Litigation would result in a decrease in the fair value of the derivative liability. Refer to Note 17 for additional information on the Covered Litigation.

The net asset fair value of the Bancorp’s IRLCs at March 31, 2023 was $7 million. Immediate decreases in current interest rates of 25 bps and 50 bps would result in increases in the fair value of the IRLCs of approximately $2 million and $4 million, respectively. Immediate increases in current interest rates of 25 bps and 50 bps would result in decreases in the fair value of the IRLCs of approximately $3 million and $6 million, respectively. The decrease in fair value of IRLCs due to immediate 10% and 20% adverse changes in the assumed loan closing rates would both be approximately $1 million, and the increase in fair value due to immediate 10% and 20% favorable changes in the assumed loan closing rates would both be approximately $1 million. These sensitivities are hypothetical and should be used with caution, as changes in fair value based on a variation in assumptions typically cannot be extrapolated because the relationship of the change in assumptions to the change in fair value may not be linear.

Short positions

Where quoted prices are available in an active market, short positions are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities. If quoted market prices are not available, then fair values are estimated using pricing models which primarily utilize quoted prices of securities with similar characteristics and therefore are classified within Level 2 of the valuation hierarchy. Level 2 securities include asset-backed and other debt securities.

The following tables are a reconciliation of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the three months ended March 31, 2023 ($ in millions)	Residential Mortgage Loans		Servicing Rights	Interest Rate Derivatives, Net(a)	Equity Derivatives	Total Fair Value
Balance, beginning of period	$	123	1,746	(1)	(195)	1,673
Total (losses) gains (realized/unrealized):(b)
Included in earnings	3		(53)	14	(31)	(67)
Purchases/originations	—		32	(2)	—	30
Settlements	(2)		—	(8)	34	24
Transfers into Level 3(c)	4		—	—	—	4
Balance, end of period	$	128	1,725	3	(192)	1,664
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at March 31, 2023	$	3	(35)	7	(31)	(56)

(a)Net interest rate derivatives include derivative assets and liabilities of $11 and $8, respectively, as of March 31, 2023.

(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at March 31, 2023.

(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the three months ended March 31, 2022 ($ in millions)	Residential Mortgage Loans		Servicing Rights	Interest Rate Derivatives, Net(a)	Equity Derivatives	Total Fair Value
Balance, beginning of period	$	154	1,121	4	(214)	1,065
Total gains (losses) (realized/unrealized):(b)
Included in earnings	(6)		137	2	(11)	122
Purchases/originations	—		186	(2)	—	184
Settlements	(9)		—	(6)	27	12
Transfers into Level 3(c)	6		—	—	—	6
Balance, end of period	$	145	1,444	(2)	(198)	1,389
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at March 31, 2022	$	(6)	207	7	(11)	197

(a)Net interest rate derivatives include derivative assets and liabilities of $8 and $10, respectively, as of March 31, 2022.

(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at March 31, 2022.

(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

The total losses and gains included in earnings for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were recorded in the Condensed Consolidated Statements of Income as follows:


	For the three months ended March 31,
($ in millions)	2023		2022
Mortgage banking net revenue	$	(37)	132
Commercial banking revenue	1		1
Other noninterest income	(31)		(11)
Total (losses) gains	$	(67)	122

The total losses and gains included in earnings attributable to changes in unrealized gains and losses related to Level 3 assets and liabilities still held at March 31, 2023 and 2022 were recorded in the Condensed Consolidated Statements of Income as follows:


	For the three months ended March 31,
($ in millions)	2023		2022
Mortgage banking net revenue	$	(26)	207
Commercial banking revenue	1		1
Other noninterest income	(31)		(11)
Total (losses) gains	$	(56)	197

The following tables present information as of March 31, 2023 and 2022 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured at fair value on a recurring basis:


As of March 31, 2023 ($ in millions)
Financial Instrument	Fair Value		Valuation Technique	Significant Unobservable Inputs	Range of Inputs			Weighted-Average
Residential mortgage loans	$	128	Loss rate model	Interest rate risk factor	(22.2)	-	5.7%		(10.3)	%	(a)
				Credit risk factor	—	-	23.2%		0.5	%	(a)
								(Fixed)	5.6	%	(b)
Servicing rights	1,725		DCF	Prepayment speed	—	-	100.0%	(Adjustable)	20.3	%	(b)
								(Fixed)	629		(b)
				OAS (bps)	477	-	1,447	(Adjustable)	1,204		(b)
IRLCs, net	7		DCF	Loan closing rates	22.3	-	97.5%		82.5	%	(c)
Swap associated with the sale of Visa, Inc. Class B Shares	(192)		DCF	Timing of the resolution of the Covered Litigation	Q1 2024	-	Q1 2027	Q2 2025			(d)

(a)Unobservable inputs were weighted by the relative carrying value of the instruments.

(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.

(c)Unobservable inputs were weighted by the relative notional amount of the instruments.

(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.


As of March 31, 2022 ($ in millions)
Financial Instrument	Fair Value		Valuation Technique	Significant Unobservable Inputs	Range of Inputs			Weighted-Average
Residential mortgage loans	$	145	Loss rate model	Interest rate risk factor	(13.2)	-	5.9 %		(3.7)	%	(a)
				Credit risk factor	—	-	20.7 %		0.2	%	(a)
								(Fixed)	6.7	%	(b)
Servicing rights	1,444		DCF	Prepayment speed	—	-	100.0 %	(Adjustable)	19.7	%	(b)
								(Fixed)	749		(b)
				OAS (bps)	615	-	1,513	(Adjustable)	1,092		(b)
IRLCs, net	6		DCF	Loan closing rates	42.0	-	98.3 %		85.9	%	(c)
Swap associated with the sale of Visa, Inc. Class B Shares	(198)		DCF	Timing of the resolution of the Covered Litigation	Q1 2023	-	Q2 2025	Q2 2024			(d)

(a)Unobservable inputs were weighted by the relative carrying value of the instruments.

(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.

(c)Unobservable inputs were weighted by the relative notional amount of the instruments.

(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment.

The following tables provide the fair value hierarchy and carrying amount of all assets that were held as of March 31, 2023 and 2022, and for which a nonrecurring fair value adjustment was recorded during the three months ended March 31, 2023 and 2022, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period.


	Fair Value Measurements Using					Total Losses
As of March 31, 2023 ($ in millions)	Level 1		Level 2	Level 3	Total	For the three months ended March 31, 2023
Commercial loans held for sale	$	—	—	21	21	—
Commercial loans and leases	—		—	160	160	(76)
Consumer and residential mortgage loans	—		—	138	138	(2)
OREO	—		—	2	2	—
Bank premises and equipment	—		—	5	5	(1)

Private equity investments	—		—	2	2	(1)
Total	$	—	—	328	328	(80)


	Fair Value Measurements Using					Total (Losses) Gains
As of March 31, 2022 ($ in millions)	Level 1		Level 2	Level 3	Total	For the three months ended March 31, 2022

Commercial loans and leases	—		—	178	178	(32)
Consumer and residential mortgage loans	—		—	117	117	—
OREO	—		—	1	1	1
Bank premises and equipment	—		—	1	1	—
Operating lease equipment	—		—	6	6	(2)
Private equity investments	—		9	2	11	(6)
Total	$	—	9	305	314	(39)

The following tables present information as of March 31, 2023 and 2022 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured on a nonrecurring basis:

As of March 31, 2023 ($ in millions)

Financial Instrument

Fair Value

Valuation Technique

Significant Unobservable Inputs

Ranges of
Inputs

Weighted-Average

Commercial loans held for sale

$

21

Comparable company analysis

Market comparable transactions

NM

Commercial loans and leases

160

Appraised value

Collateral value

NM

Consumer and residential mortgage loans

138

Appraised value

Collateral value

NM

OREO

2

Appraised value

NM

Bank premises and equipment

5

Appraised value

NM

Private equity investments

2

Comparable company analysis

Market comparable transactions

NM

As of March 31, 2022 ($ in millions)

Financial Instrument

Fair Value

Valuation Technique

Significant Unobservable Inputs

Ranges of
Inputs

Weighted-Average

Commercial loans and leases

$

178

Appraised value

Collateral value

NM

Consumer and residential mortgage loans

117

Appraised value

Collateral value

NM

OREO

1

Appraised value

NM

Bank premises and equipment

1

Appraised value

NM

Operating lease equipment

6

Appraised value

NM

Private equity investments

2

Comparable company analysis

Market comparable transactions

NM

Commercial loans held for sale

The Bancorp estimated the fair value of certain commercial loans held for sale during the three months ended March 31, 2023 and 2022. These valuations were based on appraisals of the underlying collateral or by applying unobservable inputs such as an estimated market discount to the unpaid principal balance of the loans or the appraised values of the assets (Level 3 of the valuation hierarchy).

Portfolio loans and leases

During the three months ended March 31, 2023 and 2022, the Bancorp recorded nonrecurring adjustments to certain collateral-dependent portfolio loans and leases. When a loan is collateral-dependent, the fair value of the loan is generally based on the fair value less cost to sell of the underlying collateral supporting the loan and therefore these loans were classified within Level 3 of the valuation hierarchy. In cases where the amortized cost basis of the loan or lease exceeds the estimated net realizable value of the collateral, then an ALLL is recognized, or a charge-off once the remaining amount is considered uncollectible.

OREO

During the three months ended March 31, 2023 and 2022, the Bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties and branch-related real estate no longer intended to be used for banking purposes classified as OREO and measured at the lower of carrying amount or fair value. These nonrecurring losses were primarily due to declines in real estate values of the properties recorded in OREO. These losses include an immaterial amount in losses recorded as charge-offs on new OREO properties transferred from loans, during both the three months ended March 31, 2023 and 2022. These losses also included an immaterial amount recorded as negative fair value adjustments and $1 million recorded as positive fair value adjustments for properties subsequent to their transfer into OREO for the three months ended March 31, 2023 and 2022, respectively. The fair value amounts are generally based on appraisals of the property values, resulting in a classification within Level 3 of the valuation hierarchy. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized. The previous tables reflect the fair value measurements of the properties before deducting the estimated costs to sell.

Bank premises and equipment

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. These properties were written down to their lower of cost or market values. At least annually thereafter, the Bancorp will review these properties for market fluctuations. The fair value amounts were generally based on appraisals of the property values, resulting in a classification within Level 3 of the valuation hierarchy. For further information on bank premises and equipment, refer to Note 7.

Operating lease equipment

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. When evaluating whether an individual asset is impaired, the Bancorp considers the current fair value of the asset, the changes in overall market demand for the asset and the rate of change in advancements associated with technological improvements that impact the demand for the specific asset under review. As part of this ongoing assessment, the Bancorp determined that the carrying values of certain operating lease equipment were not recoverable and, as a result, the Bancorp recorded an impairment loss equal to the amount by which the carrying value of the assets exceeded the fair value. The fair value amounts were generally based on appraised values of the assets, resulting in a classification within Level 3 of the valuation hierarchy.

Private equity investments

The Bancorp accounts for its private equity investments using the measurement alternative to fair value, except for those accounted for under the equity method of accounting. Under the measurement alternative, the Bancorp carries each investment at its cost basis minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. The Bancorp did not recognize gains during the three months ended March 31, 2023 and recognized gains of $4 million during the three months ended March 31, 2022 resulting from observable price changes. The carrying value of the Bancorp’s private equity investments still held as of March 31, 2023 includes a cumulative $40 million of positive adjustments as a result of observable price changes since January 1, 2018. Because these adjustments are based on observable transactions in inactive markets, they are classified in Level 2 of the fair value hierarchy.

For private equity investments which are accounted for using the measurement alternative to fair value, the Bancorp qualitatively evaluates each investment quarterly to determine if impairment may exist. If necessary, the Bancorp then measures impairment by estimating the value of its investment and comparing that to the investment’s carrying value, whether or not the Bancorp considers the impairment to be temporary. These valuations are typically developed using a DCF method, but other methods may be used if more appropriate for the circumstances. These valuations are based on unobservable inputs and therefore are classified in Level 3 of the fair value hierarchy. The Bancorp recognized impairments of $1 million and $10 million for the three months ended March 31, 2023 and 2022, respectively. The carrying value of the Bancorp’s private equity investments still held as of March 31, 2023 includes a cumulative $35 million of impairment charges recognized since adoption of the measurement alternative to fair value on January 1, 2018.

Fair Value Option

The Bancorp elected to measure certain residential mortgage loans held for sale under the fair value option as allowed under U.S. GAAP. Electing to measure residential mortgage loans held for sale at fair value reduces certain timing differences and better matches changes in the value of these assets with changes in the value of derivatives used as economic hedges for these assets. Management’s intent to sell residential mortgage loans classified as held for sale may change over time due to such factors as changes in the overall liquidity in markets or changes in characteristics specific to certain loans held for sale. Consequently, these loans may be reclassified to loans held for investment and maintained in the Bancorp’s loan portfolio. In such cases, the loans will continue to be measured at fair value.

Fair value changes recognized in earnings for residential mortgage loans held at March 31, 2023 and 2022 for which the fair value option was elected, as well as the changes in fair value of the underlying IRLCs, included losses of $8 million and $10 million, respectively. These losses are reported in mortgage banking net revenue in the Condensed Consolidated Statements of Income.

Valuation adjustments related to instrument-specific credit risk for residential mortgage loans measured at fair value negatively impacted the fair value of those loans by $1 million at both March 31, 2023 and December 31, 2022. Interest on loans measured at fair value is accrued as it is earned using the effective interest method and is reported as interest income in the Condensed Consolidated Statements of Income.

The following table summarizes the difference between the fair value and the unpaid principal balance for residential mortgage loans measured at fair value as of:


March 31, 2023 ($ in millions)	Aggregate Fair Value		Aggregate Unpaid Principal Balance	Difference
Residential mortgage loans measured at fair value	$	727	735	(8)

Nonaccrual loans	3		3	—
December 31, 2022
Residential mortgage loans measured at fair value	$	723	733	(10)
Past due loans of 30-89 days or more	1		1	—
Nonaccrual loans	2		2	—

The Bancorp may invest in certain hybrid financial instruments with embedded derivatives that are not clearly and closely related to the host contracts. The Bancorp elected to measure the entire instrument at fair value with changes in fair value recognized in earnings. The Bancorp did not hold these investments as of March 31, 2023 and December 31, 2022. Fair value changes recognized in earnings included gains of zero and $11 million for the three months ended March 31, 2023 and 2022, respectively, reported in securities (losses) gains, net in the Condensed Consolidated Statements of Income.

Fair Value of Certain Financial Instruments

The following tables summarize the carrying amounts and estimated fair values for certain financial instruments, excluding financial instruments measured at fair value on a recurring basis:


	Net Carrying Amount		Fair Value Measurements Using			Total Fair Value
As of March 31, 2023 ($ in millions)			Level 1	Level 2	Level 3
Financial assets:
Cash and due from banks	$	2,780	2,780	—	—	2,780
Other short-term investments	9,794		9,794	—	—	9,794
Other securities	890		—	890	—	890
Held-to-maturity securities	2		—	—	2	2
Loans and leases held for sale	150		—	—	154	154
Portfolio loans and leases:
Commercial loans and leases	76,096		—	—	76,271	76,271
Consumer and residential mortgage loans	44,418		—	—	43,170	43,170
Total portfolio loans and leases, net	$	120,514	—	—	119,441	119,441
Financial liabilities:
Deposits	$	162,975	—	162,924	—	162,924
Federal funds purchased	177		177	—	—	177
Other short-term borrowings	7,364		—	7,362	—	7,362
Long-term debt	12,868		11,900	394	—	12,294


	Net Carrying Amount		Fair Value Measurements Using			Total Fair Value
As of December 31, 2022 ($ in millions)			Level 1	Level 2	Level 3
Financial assets:
Cash and due from banks	$	3,466	3,466	—	—	3,466
Other short-term investments	8,351		8,351	—	—	8,351
Other securities	874		—	874	—	874
Held-to-maturity securities	5		—	—	5	5
Loans and leases held for sale	407		—	—	414	414
Portfolio loans and leases:
Commercial loans and leases	75,262		—	—	75,104	75,104
Consumer and residential mortgage loans	43,901		—	—	42,193	42,193
Total portfolio loans and leases, net	$	119,163	—	—	117,297	117,297
Financial liabilities:
Deposits	$	163,690	—	163,634	—	163,634
Federal funds purchased	180		180	—	—	180
Other short-term borrowings	4,838		—	4,829	—	4,829
Long-term debt	13,778		13,218	411	—	13,629

Business Segments

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Business Segments

The Bancorp reports on three business segments: Commercial Banking, Consumer & Small Business Banking and Wealth and Asset Management. Results of the Bancorp’s business segments are presented based on its management structure and management accounting practices. The structure and accounting practices are specific to the Bancorp; therefore, the financial results of the Bancorp’s business segments are not necessarily comparable with similar information for other financial institutions. The Bancorp refines its methodologies from time to time as management’s accounting practices and businesses change.

The Bancorp manages interest rate risk centrally at the corporate level. By employing an FTP methodology, the business segments are insulated from most benchmark interest rate volatility, enabling them to focus on serving customers through the origination of loans and acceptance of deposits. The FTP methodology assigns charge and credit rates to classes of assets and liabilities, respectively, based on the estimated amount and timing of the cash flows for each transaction. Assigning the FTP rate based on matching the duration of cash flows allocates interest income and interest expense to each business segment so its resulting net interest income is insulated from future changes in benchmark interest rates. The Bancorp’s FTP methodology also allocates the contribution to net interest income of the asset-generating and deposit-providing businesses on a duration-adjusted basis to better attribute the driver of the performance. As the asset and liability durations are not perfectly matched, the residual impact of the FTP methodology is captured in General Corporate and Other. The charge and credit rates are determined using the FTP rate curve, which is based on an estimate of Fifth Third’s marginal borrowing cost in the wholesale funding markets. The FTP curve is constructed using the U.S. swap curve, brokered CD pricing and unsecured debt pricing.

The Bancorp adjusts the FTP charge and credit rates as dictated by changes in interest rates for various interest-earning assets and interest-bearing liabilities and by the review of behavioral assumptions, such as prepayment rates on interest-earning assets and the estimated durations for indeterminate-lived deposits. Key assumptions, including the credit rates provided for deposit accounts, are reviewed annually. Credit rates for deposit products and charge rates for loan products may be reset more frequently in response to changes in market conditions.

The Bancorp’s methodology for allocating provision for credit losses to the business segments includes charges or benefits associated with changes in criticized commercial loan levels in addition to actual net charge-offs experienced by the loans and leases owned by each business segment. Provision for credit losses attributable to loan and lease growth and changes in ALLL factors is captured in General Corporate and Other. The financial results of the business segments include allocations for shared services and headquarters expenses. Additionally, the business segments form synergies by taking advantage of relationship depth opportunities and funding operations by accessing the capital markets as a collective unit.

The following is a description of each of the Bancorp’s business segments and the products and services they provide to their respective client bases.

Commercial Banking offers credit intermediation, cash management and financial services to large and middle-market businesses and government and professional customers. In addition to the traditional lending and depository offerings, Commercial Banking products and services include global cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing and syndicated finance.

Consumer and Small Business Banking provides a full range of deposit and loan products to individuals and small businesses through a network of full-service banking centers and relationships with indirect and correspondent loan originators in addition to providing products designed to meet the specific needs of small businesses, including cash management services. Consumer and Small Business Banking includes the Bancorp’s residential mortgage, home equity loans and lines of credit, credit cards, automobile and other indirect lending and other consumer lending activities. Residential mortgage activities include the origination, retention and servicing of residential mortgage loans, sales and securitizations of those loans and all associated hedging activities. Indirect lending activities include extending loans to consumers through automobile dealers, motorcycle dealers, powersport dealers, recreational vehicle dealers and marine dealers. Other consumer lending activities include home improvement and solar energy installation loans originated through a network of contractors and installers.

Wealth and Asset Management provides a full range of wealth management services for individuals, companies and not-for-profit organizations. Wealth and Asset Management is made up of three main businesses: FTS, an indirect wholly-owned subsidiary of the Bancorp; Fifth Third Private Bank; and Fifth Third Institutional Services. FTS offers full service retail brokerage services to individual clients and broker-dealer services to the institutional marketplace. Fifth Third Private Bank offers wealth management strategies to high net worth and ultra-high net worth clients through wealth planning, investment management, banking, insurance, trust and estate services. Fifth Third Institutional Services provides advisory services for institutional clients including middle market businesses, non-profits, states and municipalities.

The following tables present the results of operations and assets by business segment for the three months ended:


March 31, 2023 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	977	1,257	101	(818)		—		1,517
Provision for credit losses	46		51	—	67		—		164
Net interest income after provision for credit losses	$	931	1,206	101	(885)		—		1,353
Noninterest income:
Commercial banking revenue	$	160	1	—	—		—		161
Wealth and asset management revenue	1		53	138	—		(46)	(a)	146
Service charges on deposits	87		51	—	(1)		—		137
Card and processing revenue	22		74	1	3		—		100
Mortgage banking net revenue	—		69	—	—		—		69
Leasing business revenue	57		—	—	—		—		57
Other noninterest income(b)	16		25	(1)	(18)		—		22
Securities gains (losses), net	(7)		—	—	11		—		4
Securities losses, net – non-qualifying hedges on MSRs	—		—	—	—		—		—
Total noninterest income	$	336	273	138	(5)		(46)		696
Noninterest expense:
Compensation and benefits	$	190	224	61	282		—		757
Technology and communications	2		7	—	109		—		118
Net occupancy expense(d)	11		51	3	16		—		81
Equipment expense	7		11	—	19		—		37
Leasing business expense	34		—	—	—		—		34
Marketing expense	—		17	—	12		—		29
Card and processing expense	3		20	—	(1)		—		22
Other noninterest expense	304		315	82	(402)		(46)		253
Total noninterest expense	$	551	645	146	35		(46)		1,331
Income (loss) before income taxes	$	716	834	93	(925)		—		718
Applicable income tax expense (benefit)	136		175	19	(170)		—		160
Net income (loss)	$	580	659	74	(755)		—		558
Total goodwill	$	2,324	2,365	226	—		—		4,915
Total assets	$	83,545	85,296	11,707	28,109	(c)	—		208,657

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of $1 for bank premises and equipment recorded in Consumer and Small Business Banking and an immaterial amount recorded in General Corporate and Other. For more information, refer to Note 7 and Note 22.

(c)Includes bank premises and equipment of $22 classified as held for sale. For more information, refer to Note 7.

(d)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.


March 31, 2022 ($ in millions)	Commercial Banking			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	523		517	35	120		—		1,195
Provision for (benefit from) credit losses	(34)			29	—	50		—		45
Net interest income after provision for (benefit from) credit losses	$	557		488	35	70		—		1,150
Noninterest income:
Commercial banking revenue	$	135		—	—	—		—		135
Wealth and asset management revenue	—			51	142	—		(44)	(a)	149
Service charges on deposits	100			53	—	(1)		—		152
Card and processing revenue	20			74	1	2		—		97
Mortgage banking net revenue	—			52	—	—		—		52
Leasing business revenue	62		(c)	—	—	—		—		62
Other noninterest income(b)	22			27	1	2		—		52
Securities losses, net	—			—	—	(14)		—		(14)
Securities losses, net – non-qualifying hedges on MSRs	—			(1)	—	—		—		(1)
Total noninterest income	$	339		256	144	(11)		(44)		684
Noninterest expense:
Compensation and benefits	$	182		218	60	251		—		711
Technology and communications	5			4	—	92		—		101
Net occupancy expense(e)	10			48	3	16		—		77
Equipment expense	7			9	—	20		—		36
Leasing business expense	32			—	—	—		—		32
Marketing expense	1			11	—	12		—		24
Card and processing expense	2			18	—	(1)		—		19
Other noninterest expense	240			293	79	(346)		(44)		222
Total noninterest expense	$	479		601	142	44		(44)		1,222
Income before income taxes	$	417		143	37	15		—		612
Applicable income tax expense	76			31	8	3		—		118
Net income	$	341		112	29	12		—		494
Total goodwill	$	1,980		2,303	231	—		—		4,514
Total assets	$	79,970		86,626	13,715	31,148	(d)	—		211,459

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of an immaterial amount for bank premises and equipment recorded in Consumer and Small Business Banking. For more information, refer to Note 7 and Note 22.

(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8 and Note 22.

(d)Includes bank premises and equipment of $25 classified as held for sale. For more information, refer to Note 7.

(e)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.

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.

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Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of the Bancorp and its majority-owned subsidiaries and VIEs in which the Bancorp has been determined to be the primary beneficiary. Other entities, including certain joint ventures in which the Bancorp has the ability to exercise significant influence over operating and financial policies of the investee, but upon which the Bancorp does not possess control, are accounted for by the equity method and not consolidated. The investments in those entities in which the Bancorp does not have the ability to exercise significant influence are generally carried at fair value unless the investment does not have a readily determinable fair value. The Bancorp accounts for equity investments without a readily determinable fair value using the measurement alternative to fair value, representing the cost of the investment minus any impairment recorded and plus or minus changes resulting from observable price changes in orderly transactions for an identical or a similar investment of the same issuer. Intercompany transactions and balances among consolidated entities have been eliminated. In the opinion of management, the unaudited Condensed Consolidated Financial Statements include all adjustments, which consist of normal recurring accruals, necessary to present fairly the results for the periods presented. In accordance with U.S. GAAP and the rules and regulations of the SEC for interim financial information, these statements do not include certain information and footnote disclosures required for complete annual financial statements and it is suggested that these Condensed Consolidated Financial Statements be read in conjunction with the Bancorp’s Annual Report on Form 10-K. The results of operations, comprehensive income, cash flows and changes in equity for the three months ended March 31, 2023 and 2022 are not necessarily indicative of the results to be expected for the full year. Financial information as of December 31, 2022 has been derived from the Bancorp’s Annual Report on Form 10-K. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Accounting and Reporting Developments	Standards Adopted in 2023 The Bancorp adopted the following new accounting standards during the three months ended March 31, 2023: ASU 2021-08 – Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers In October 2021, the FASB issued ASU 2021-08, which provides guidance on the accounting for revenue contracts with customers which are acquired in a business combination. The amendments generally state that an acquirer accounts for an acquired revenue contract with a customer as if it had originated the contract. The amendments also provide certain practical expedients for acquirers when recognizing and measuring acquired contract assets and liabilities. The Bancorp adopted the amended guidance on January 1, 2023 on a prospective basis and will apply the amendments for business combinations occurring on or after the adoption date. The adoption of the amended guidance did not have a material impact on the Bancorp’s Condensed Consolidated Financial Statements. ASU 2022-01 – Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method In March 2022, the FASB issued ASU 2022-01, which clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets and renames the last-of-layer method the portfolio layer method. Under previous guidance, the last-of-layer method enabled an entity to apply fair value hedging to a stated amount of a closed portfolio of prepayable financial assets without having to consider prepayment risk or credit risk when measuring those assets. ASU 2022-01 expands the scope of this guidance to allow entities to apply the portfolio layer method to portfolios of all financial assets, including both prepayable and nonprepayable financial assets. It allows entities to designate multiple layers within a single closed portfolio as individual hedged items. Further, ASU 2022-01 clarifies that the fair value basis adjustments should be adjusted at the portfolio level and should not be allocated to individual assets within the portfolio. The Bancorp adopted the amended guidance on January 1, 2023 on a prospective basis, except for the amendments related to fair value basis adjustments that, if applicable, were required to be applied on a modified retrospective basis. The adoption of the amended guidance did not have a material impact on the Bancorp’s Condensed Consolidated Financial Statements. ASU 2022-02 – Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures In March 2022, the FASB issued ASU 2022-02, which eliminates the accounting guidance on troubled debt restructurings for creditors in ASC 310-40, amends the guidance on calculating the allowance for credit losses for restructured financing receivables and requires entities to evaluate all receivable modifications under ASC 310-20 to determine whether a modification made to a borrower results in a new loan or the continuation of an existing loan. The amended guidance adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. The amended guidance also requires disclosure of current period gross charge-offs by year of origination within the vintage disclosures required by ASC 326. The Bancorp adopted the amended guidance on January 1, 2023 on a prospective basis, except for the amendments impacting the measurement of the ACL for TDRs and reasonably expected TDRs, which were adopted on a modified retrospective basis. Upon adoption, the Bancorp recorded a decrease to the ACL of $49 million and a cumulative-effect adjustment to retained earnings of $37 million, net of tax. This adjustment was primarily attributable to the removal of the requirement to use a discounted cash flow approach to measure the impact of certain concessions granted as part of a TDR and the removal of the requirement to consider the impacts of reasonably expected TDRs when estimating expected credit losses. The required disclosures are included in Note 6. ASU 2022-04 – Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations In September 2022, the FASB issued ASU 2022-04, which provides guidance on the disclosure requirements for supplier finance programs. The amendments require that a buyer in a supplier finance program disclose sufficient qualitative and quantitative information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. The Bancorp adopted the amended guidance on January 1, 2023 on a retrospective basis, except for the amendments related to disclosure of rollforward information, which are required to be adopted on January 1, 2024 on a prospective basis. The adoption of the amended guidance did not have a material impact on the Bancorp’s Condensed Consolidated Financial Statements. Significant Accounting Standards Issued but Not Yet Adopted The following significant accounting standards were issued but not yet adopted by the Bancorp as of March 31, 2023: ASU 2022-03 – Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions In June 2022, the FASB issued ASU 2022-03, which clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to contractual sale restrictions, stating that such restrictions are not considered part of the unit of account of the security and therefore are not considered in measuring fair value. The amended guidance also requires disclosure of the fair value of equity securities subject to contractual sale restrictions and certain additional information about those restrictions. The amended guidance is effective for the Bancorp on January 1, 2024, with early adoption permitted, and is to be applied prospectively. ASU 2023-02 – Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method In March 2023, the FASB issued ASU 2023-02, which expands the permitted usage of the proportional amortization method to include additional tax credit investment programs beyond qualifying LIHTC structures if certain conditions are met. The amended guidance permits entities to make elections to apply the proportional amortization method on a program-by-program basis for qualifying programs and also makes certain amendments to measurement and disclosure guidance. The amended disclosure guidance applies to all investments within programs where the proportional amortization method has been elected, including investments within those programs which do not meet the criteria to permit application of the proportional amortization method. The amended guidance is effective for the Bancorp on January 1, 2024, with early adoption permitted, and is to be applied on a modified retrospective or retrospective basis, except for certain provisions affecting the measurement of existing LIHTC investments which may be applied prospectively. The Bancorp is in the process of evaluating the impact of the amended guidance on the Condensed Consolidated Financial Statements. Reference Rate Reform and LIBOR Transition In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in the ASU apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, which clarified that the optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting also apply to derivatives that are affected by the discounting transition. The expedients and exceptions provided by the amendments did not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 for which an entity had elected certain optional expedients. Subsequently, in December 2022, the FASB issued ASU 2022-06 which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in ASU 2020-04 (as amended) are effective for the Bancorp as of March 12, 2020 and may be applied through December 31, 2024. The Bancorp is in the process of evaluating and applying, as applicable, the optional expedients and exceptions in accounting for eligible contract modifications, eligible existing hedging relationships and new hedging relationships available through December 31, 2024. Updates to Significant Accounting and Reporting Policies In conjunction with the adoption of ASU 2022-02 on January 1, 2023, the Bancorp has updated its accounting and reporting policies for nonaccrual loans and leases, loan modifications and the ALLL as described below. Refer to Note 1 of the Notes to Consolidated Financial Statements in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022 for discussion of these accounting and reporting policies for periods prior to January 1, 2023.
Portfolio loans and leases	Portfolio loans and leases - nonaccrual loans and leases The Bancorp places loans and leases on nonaccrual status when full repayment of principal and interest is not expected, unless the loan or lease is well-secured and in the process of collection. When a loan is placed on nonaccrual status, the accrual of interest, amortization of loan premium, accretion of loan discount and amortization/accretion of deferred net direct loan origination fees or costs are discontinued and all previously accrued and unpaid interest is reversed against income. The Bancorp utilizes the following policies to determine when full repayment of principal and interest on a loan or lease is not expected: •Commercial loans are placed on nonaccrual status when there is a clear indication that the borrower’s cash flows may not be sufficient to meet payments as they become due. Such loans are also placed on nonaccrual status when the principal or interest is past due 90 days or more, unless the loan is fully or partially guaranteed by a government agency. •Residential mortgage loans are placed on nonaccrual status when principal and interest payments become past due 150 days or more, unless repayment of the loan is fully or partially guaranteed by a government agency. Residential mortgage loans may stay on nonaccrual status for an extended time as the foreclosure process typically lasts longer than 180 days. The Bancorp maintains a reserve for the portion of accrued interest receivable that it estimates will be uncollectible, at the portfolio level, for residential mortgage loans which are past due 90 days or more and on accrual status. This reserve is recorded as a component of other assets on the Bancorp’s Condensed Consolidated Balance Sheets, consistent with the classification of the related accrued interest receivable. •Home equity loans and lines of credit are placed on nonaccrual status if principal or interest has been in default for 90 days or more. Home equity loans and lines of credit that have been in default for 60 days or more are also placed on nonaccrual status if the senior lien has been in default 120 days or more. •Credit card loans that have been modified for a borrower experiencing financial difficulty are placed on nonaccrual status at the time of the modification. Subsequent to the modification, accounts are placed on nonaccrual status when required payments become past due 90 days or more in accordance with the modified terms. •Indirect secured consumer loans and other consumer loans are generally placed on nonaccrual status when principal or interest becomes past due 90 days or more. •Loans discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower are considered collateral-dependent loans and placed on nonaccrual status, regardless of the borrower’s payment history or capacity to repay in the future. Well-secured loans are collateralized by perfected security interests in real and/or personal property for which the Bancorp estimates proceeds from the sale would be sufficient to recover the outstanding principal and accrued interest balance of the loan and pay all costs to sell the collateral. The Bancorp considers a loan in the process of collection if collection efforts or legal action is proceeding and the Bancorp expects to collect funds sufficient to bring the loan current or recover the entire outstanding principal and accrued interest balance in the near future. Nonaccrual loans and leases may be returned to accrual status when all delinquent principal and interest payments become current in accordance with the loan agreement and the remaining principal and interest payments are reasonably assured of repayment in accordance with the contractual terms of the loan agreement, or when the loan is both well-secured and in the process of collection. Nonaccrual loans that have been modified for a borrower experiencing financial difficulty may not be returned to accrual status unless such loans have sustained repayment performance of six months or more and are reasonably assured of repayment in accordance with the modified terms. Loans discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower may be returned to accrual status provided there is a sustained payment history of twelve months or more after bankruptcy and collectability is reasonably assured for all remaining contractual payments. Except for loans discharged in a Chapter 7 bankruptcy that are not reaffirmed by the borrower, accruing residential mortgage loans, home equity loans and lines of credit, indirect secured consumer loans and other consumer loans modified for borrowers experiencing financial difficulty are maintained on accrual status, provided there is reasonable assurance of repayment and of performance according to the modified terms based upon a current, well-documented credit evaluation. Accruing commercial loans modified for borrowers experiencing financial difficulty are maintained on accrual status provided there is a sustained payment history of six months or more prior to the modification and collectability is reasonably assured for all remaining contractual payments under the modified terms. Modifications of commercial loans and credit card loans for borrowers experiencing financial difficulty that do not have a sustained payment history of six months or more in accordance with their modified terms remain on nonaccrual status until a six-month payment history is sustained. Nonaccrual loans and leases are generally accounted for on the cost recovery method due to the existence of doubt as to the collectability of the remaining amortized cost basis of nonaccrual assets. Under the cost recovery method, any payments received are applied to reduce principal. Once the entire amortized cost basis is collected, additional payments received are treated as recoveries of amounts previously charged-off until recovered in full, and any subsequent payments are treated as interest income. In certain circumstances when the remaining amortized cost basis of a nonaccrual loan or lease is deemed to be fully collectible, the Bancorp may utilize the cash basis method to account for interest payments received on a nonaccrual loan or lease. Under the cash basis method, interest income is recognized when cash is received, to the extent such income would have been accrued on the loan’s remaining balance at the contractual rate. The Bancorp records a charge-off to the ALLL when all or a portion of a loan or lease is deemed to be uncollectible, after considering the net realizable value of any underlying collateral. Commercial loans and leases on nonaccrual status and criticized commercial loans with aggregate borrower relationships exceeding $1 million are subject to an individual review to identify charge-offs. The Bancorp does not have an established delinquency threshold for partially or fully charging off commercial loans and leases. The Bancorp records charge-offs on consumer loans in accordance with applicable regulatory guidelines, which are primarily based on a loan’s delinquency status. Portfolio loans and leases - loan modifications In circumstances where an existing loan is modified (including a restructuring, refinancing, or other changes in terms which affect the loan’s contractual cash flows), the Bancorp evaluates whether the modification results in a continuation of the existing loan or the origination of a new loan. The Bancorp accounts for a modification as a new loan if the terms of the modified loan are at least as favorable to the Bancorp as the terms for comparable loans to other borrowers with similar collection risks who are obtaining new loans, or if the modification of terms is considered more than minor. If neither of these conditions are met, then the Bancorp will account for the loan as a continuation of the existing loan. When a modification is accounted for as a new loan, any unamortized net deferred fees or costs from the original loan are recognized in interest income when the new loan is originated. When a modification is accounted for as a continuation of the existing loan, the unamortized net deferred fees or costs from the original loan and any additional incremental direct fees and costs are carried forward and deferred as part of the amortized cost basis of the modified loan.
ALLL	ALLL The Bancorp disaggregates its portfolio loans and leases into portfolio segments for purposes of determining the ALLL. The Bancorp’s portfolio segments include commercial, residential mortgage and consumer. The Bancorp further disaggregates its portfolio segments into classes for purposes of monitoring and assessing credit quality based on certain risk characteristics. Classes within the commercial portfolio segment include commercial and industrial, commercial mortgage owner-occupied, commercial mortgage nonowner-occupied, commercial construction and commercial leasing. The residential mortgage portfolio segment is also considered a class. Classes within the consumer portfolio segment include home equity, indirect secured consumer, credit card and other consumer loans. The Bancorp maintains the ALLL to absorb the amount of credit losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. Contractual terms are adjusted for expected prepayments but are not extended for expected extensions, renewals or modifications except in circumstances where extension or renewal options are embedded in the original contract and not unconditionally cancellable by the Bancorp. Accrued interest receivable on loans is presented in the Condensed Consolidated Financial Statements as a component of other assets. When accrued interest is deemed to be uncollectible (typically when a loan is placed on nonaccrual status), interest income is reversed. The Bancorp follows established policies for placing loans on nonaccrual status, so uncollectible accrued interest receivable is reversed in a timely manner. As a result, the Bancorp has elected not to measure a reserve for accrued interest receivable as part of its ALLL. However, the Bancorp does record a reserve for the portion of accrued interest receivable that it expects to be uncollectible. Credit losses are charged and recoveries are credited to the ALLL. The ALLL is maintained at a level the Bancorp considers to be adequate and is based on ongoing quarterly assessments and evaluations of the collectability of loans and leases, including historical credit loss experience, current and forecasted market and economic conditions and consideration of various qualitative factors that, in management’s judgment, deserve consideration in estimating expected credit losses. Provisions for credit losses are recorded for the amounts necessary to adjust the ALLL to the Bancorp’s current estimate of expected credit losses on portfolio loans and leases. The Bancorp’s methodology for determining the ALLL includes an estimate of expected credit losses on a collective basis for groups of loans and leases with similar risk characteristics and specific allowances for loans and leases which are individually evaluated. Larger commercial loans and leases included within aggregate borrower relationship balances exceeding $1 million on nonaccrual status are individually evaluated for an ALLL. The Bancorp considers the current value of collateral, credit quality of any guarantees, the guarantor’s liquidity and willingness to cooperate, the loan or lease structure (including modifications, if any) and other factors when determining the amount of the ALLL. Other factors may include the borrower’s susceptibility to risks presented by the forecasted macroeconomic environment, the industry and geographic region of the borrower, size and financial condition of the borrower, cash flow and leverage of the borrower and the Bancorp’s evaluation of the borrower’s management. When loans and leases are individually evaluated, allowances are determined based on management’s estimate of the borrower’s ability to repay the loan or lease given the availability of collateral and other sources of cash flow, as well as an evaluation of legal options available to the Bancorp. Allowances for individually evaluated loans and leases that are collateral-dependent are measured based on the fair value of the underlying collateral, less expected costs to sell where applicable. Individually evaluated loans and leases that are not collateral-dependent are measured based on the observable market value of the loan or lease or the present value of its expected cash flows discounted at the loan’s effective interest rate. Specific allowances on individually evaluated commercial loans and leases are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience. The Bancorp considers loans to be collateral-dependent when it becomes probable that repayment of the loan will be provided through the sale or operation of the collateral instead of from payments made by the borrower. The expected credit losses for these loans are typically estimated based on the fair value of the underlying collateral, less expected costs to sell where applicable. Specific allowances on individually evaluated consumer and residential mortgage loans are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience. Expected credit losses are estimated on a collective basis for loans and leases that are not individually evaluated. For collectively evaluated loans and leases, the Bancorp uses models to forecast expected credit losses based on the probability of a loan or lease defaulting, the expected balance at the estimated date of default and the expected loss percentage given a default. The estimate of the expected balance at the time of default considers prepayments and, for loans with available credit, expected utilization rates. The Bancorp’s expected credit loss models were developed based on historical credit loss experience and observations of migration patterns for various credit risk characteristics (such as internal credit risk grades, external credit ratings or scores, delinquency status, loan-to-value trends, etc.) over time, with those observations evaluated in the context of concurrent macroeconomic conditions. The Bancorp developed its models from historical observations capturing a full economic cycle when possible. The Bancorp’s expected credit loss models consider historical credit loss experience, current market and economic conditions, and forecasted changes in market and economic conditions if such forecasts are considered reasonable and supportable. Generally, the Bancorp considers its forecasts to be reasonable and supportable for a period of up to three years from the estimation date. For periods beyond the reasonable and supportable forecast period, expected credit losses are estimated by reverting to historical loss information without adjustment for changes in economic conditions. This reversion is phased in over a two-year period. The Bancorp evaluates the length of its reasonable and supportable forecast period, its reversion period and reversion methodology at least annually, or more often if warranted by economic conditions or other circumstances. The Bancorp also considers qualitative factors in determining the ALLL. Qualitative factors are used to capture characteristics in the portfolio that impact expected credit losses but that are not fully captured within the Bancorp’s expected credit loss models. These include adjustments for changes in policies or procedures in underwriting, monitoring or collections, lending and risk management personnel and results of internal audit and quality control reviews. These may also include adjustments, when deemed necessary, for specific idiosyncratic risks such as geopolitical events, natural disasters and their effects on regional borrowers, and changes in product structures. Qualitative factors may also be used to address the impacts of unforeseen events on key inputs and assumptions within the Bancorp’s expected credit loss models, such as the reasonable and supportable forecast period, changes to historical loss information or changes to the reversion period or methodology. When evaluating the adequacy of allowances, consideration is also given to regional geographic concentrations and the closely associated effect that changing economic conditions may have on the Bancorp’s customers.

Disclosure of accounting policy for financing receivable.

Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2023

Noncash Investing and Financing Activities

Cash payments related to interest and income taxes in addition to non-cash investing and financing activities are presented in the following table for the three months ended March 31:


($ in millions)	2023		2022
Cash Payments:
Interest	$	682	158
Income taxes	21		11

Transfers:
Portfolio loans and leases to loans and leases held for sale	$	3	71
Loans and leases held for sale to portfolio loans and leases	4		402
Portfolio loans and leases to OREO	3		2

Bank premises and equipment to OREO	8		15

Supplemental Disclosures:
Net additions to lease liabilities under operating leases	$	1	31
Net additions to lease liabilities under finance leases	—		3

Investment Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

The following tables provide the amortized cost, unrealized gains and losses and fair value for the major categories of the available-for-sale debt and other securities and held-to-maturity securities portfolios as of:


March 31, 2023 ($ in millions)	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,828	1	(140)	2,689
Obligations of states and political subdivisions securities	3		—	—	3
Mortgage-backed securities:
Agency residential mortgage-backed securities	12,246		6	(1,179)	11,073
Agency commercial mortgage-backed securities	29,231		10	(3,058)	26,183
Non-agency commercial mortgage-backed securities	5,057		—	(507)	4,550
Asset-backed securities and other debt securities	5,703		2	(374)	5,331
Other securities(a)	890		—	—	890
Total available-for-sale debt and other securities	$	55,958	19	(5,258)	50,719
Held-to-maturity securities:
Asset-backed securities and other debt securities	$	2	—	—	2
Total held-to-maturity securities	$	2	—	—	2

(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $396, $491 and $3, respectively, at March 31, 2023, that are carried at cost.


December 31, 2022 ($ in millions)	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,683	—	(188)	2,495
Obligations of states and political subdivisions securities	18		—	—	18
Mortgage-backed securities:
Agency residential mortgage-backed securities	12,604		5	(1,372)	11,237
Agency commercial mortgage-backed securities	29,824		11	(3,513)	26,322
Non-agency commercial mortgage-backed securities	5,235		—	(520)	4,715
Asset-backed securities and other debt securities	6,292		3	(453)	5,842
Other securities(a)	874		—	—	874
Total available-for-sale debt and other securities	$	57,530	19	(6,046)	51,503
Held-to-maturity securities:
Obligations of states and political subdivisions securities	$	3	—	—	3
Asset-backed securities and other debt securities	2		—	—	2
Total held-to-maturity securities	$	5	—	—	5

(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $381, $491 and $2, respectively, at December 31, 2022, that are carried at cost.

The following table provides the fair value of trading debt securities and equity securities as of:


($ in millions)	March 31, 2023		December 31, 2022
Trading debt securities	$	1,174	414
Equity securities	323		317

Realized Gains and Losses Recognized in Income from Investment Securities

The following table presents the components of net securities gains and losses recognized in the Condensed Consolidated Statements of Income, including those recognized related to the Bancorp’s non-qualifying hedging strategy for MSRs:


	For the three months ended March 31,
($ in millions)	2023		2022
Available-for-sale debt and other securities:
Realized gains	$	29	3
Realized losses	(29)		—

Net realized gains on available-for-sale debt and other securities	$	—	3
Trading debt securities:
Net realized losses	—		(1)
Net unrealized gains	—		11
Net trading debt securities gains	$	—	10
Equity securities:
Net realized gains	—		1
Net unrealized gains (losses)	4		(29)
Net equity securities gains (losses)	$	4	(28)
Total gains (losses) recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities(a)	$	4	(15)

(a)Excludes $1 of net securities gains and $3 of net securities losses for the three months ended March 31, 2023 and 2022, respectively, related to securities held by FTS to facilitate the timely execution of customer transactions. These losses are included in commercial banking revenue and wealth and asset management revenue in the Condensed Consolidated Statements of Income.

Contractual Maturity Schedule

The expected maturity distribution of the Bancorp’s mortgage-backed securities and the contractual maturity distribution of the remainder of the Bancorp’s available-for-sale debt and other securities and held-to-maturity securities as of March 31, 2023 are shown in the following table:


($ in millions)	Available-for-Sale Debt and Other			Held-to-Maturity
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Debt securities:(a)
Due in 1 year or less	$	136	133	—	—
Due after 1 year through 5 years	13,519		12,697	—	—
Due after 5 years through 10 years	30,863		27,727	—	—
Due after 10 years	10,550		9,272	2	2
Other securities	890		890	—	—
Total	$	55,958	50,719	2	2

(a)Actual maturities may differ from contractual maturities when a right to call or prepay obligations exists with or without call or prepayment penalties.

Fair Value and Gross Unrealized Loss of Securities Available for Sale

The following table provides the fair value and gross unrealized losses on available-for-sale debt and other securities in an unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of:


	Less than 12 months			12 months or more		Total
($ in millions)	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses
March 31, 2023
U.S. Treasury and federal agencies securities	$	863	(15)	1,622	(125)	2,485	(140)
Obligations of states and political subdivisions securities	—		—	1	—	1	—
Agency residential mortgage-backed securities	4,293		(291)	6,616	(888)	10,909	(1,179)
Agency commercial mortgage-backed securities	12,883		(1,047)	12,881	(2,011)	25,764	(3,058)
Non-agency commercial mortgage-backed securities	788		(43)	3,761	(464)	4,549	(507)
Asset-backed securities and other debt securities	1,529		(42)	3,630	(332)	5,159	(374)
Total	$	20,356	(1,438)	28,511	(3,820)	48,867	(5,258)
December 31, 2022
U.S. Treasury and federal agencies securities	$	2,400	(188)	—	—	2,400	(188)
Obligations of states and political subdivisions securities	—		—	1	—	1	—
Agency residential mortgage-backed securities	10,078		(1,170)	938	(202)	11,016	(1,372)
Agency commercial mortgage-backed securities	22,083		(2,487)	3,697	(1,026)	25,780	(3,513)
Non-agency commercial mortgage-backed securities	3,621		(272)	1,059	(248)	4,680	(520)
Asset-backed securities and other debt securities	3,164		(178)	2,495	(275)	5,659	(453)
Total	$	41,346	(4,295)	8,190	(1,751)	49,536	(6,046)

Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2023

Loans and Leases Classified by Primary Purpose

The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of:


($ in millions)	March 31, 2023		December 31, 2022
Loans and leases held for sale:
Commercial and industrial loans	$	21	73


Commercial leases	3		—
Residential mortgage loans	725		934
Total loans and leases held for sale	$	749	1,007
Portfolio loans and leases:
Commercial and industrial loans	$	57,720	57,232
Commercial mortgage loans	11,228		11,020
Commercial construction loans	5,548		5,433
Commercial leases	2,743		2,704
Total commercial loans and leases	$	77,239	76,389
Residential mortgage loans	$	17,608	17,628
Home equity	3,958		4,039
Indirect secured consumer loans	16,484		16,552
Credit card	1,761		1,874
Other consumer loans	5,807		4,998
Total consumer loans	$	45,618	45,091
Total portfolio loans and leases	$	122,857	121,480

Total Loans and Leases Owned by the Bancorp

The following table presents a summary of the total loans and leases owned by the Bancorp as of:


	Carrying Value			90 Days Past Due and Still Accruing(a)
($ in millions)	March 31, 2023		December 31, 2022	March 31, 2023	December 31, 2022
Commercial and industrial loans	$	57,741	57,305	17	11
Commercial mortgage loans	11,228		11,020	—	—
Commercial construction loans	5,548		5,433	—	—
Commercial leases	2,746		2,704	—	2
Residential mortgage loans	18,333		18,562	9	7
Home equity	3,958		4,039	1	1
Indirect secured consumer loans	16,484		16,552	—	—
Credit card	1,761		1,874	18	18
Other consumer loans	5,807		4,998	1	1
Total loans and leases	$	123,606	122,487	46	40
Less: Loans and leases held for sale	749		1,007
Total portfolio loans and leases	$	122,857	121,480

(a)Excludes government guaranteed residential mortgage loans.

The following table presents a summary of net charge-offs (recoveries):


	For the three months ended March 31,
($ in millions)	2023		2022
Commercial and industrial loans	$	30	9
Commercial mortgage loans	—		(1)
Commercial construction loans	1		—

Residential mortgage loans	—		(1)
Home equity	—		(1)
Indirect secured consumer loans	14		7
Credit card	15		13
Other consumer loans	18		8
Total net charge-offs	$	78	34

Investment in Lease Financing

The following table presents the components of the net investment in portfolio leases as of:


($ in millions)(a)	March 31, 2023		December 31, 2022
Net investment in direct financing leases:
Lease payment receivable (present value)	$	582	570
Unguaranteed residual assets (present value)	109		107

Net investment in sales-type leases:
Lease payment receivable (present value)	1,728		1,704
Unguaranteed residual assets (present value)	76		76

(a)Excludes $248 and $247 of leveraged leases at March 31, 2023 and December 31, 2022, respectively.

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table presents undiscounted cash flows for both direct financing and sales-type leases for the remainder of 2023 through 2028 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:


As of March 31, 2023 ($ in millions)	Direct Financing Leases		Sales-Type Leases
Remainder of 2023	$	145	388
2024	159		471
2025	113		409
2026	95		239
2027	58		177
2028	18		108
Thereafter	37		82
Total undiscounted cash flows	$	625	1,874
Less: Difference between undiscounted cash flows and discounted cash flows	43		146
Present value of lease payments (recognized as lease receivables)	$	582	1,728

Credit Quality and the Allowance for Loan and Lease Losses (Tables)

3 Months Ended

Mar. 31, 2023

Summary of Transactions in the ALLL

The following tables summarize transactions in the ALLL by portfolio segment:


For the three months ended March 31, 2023 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,127	245	822	2,194
Impact of adoption of ASU 2022-02	4		(36)	(17)	(49)
Losses charged off(a)	(33)		(1)	(76)	(110)
Recoveries of losses previously charged off(a)	2		1	29	32
Provision for (benefit from) loan and lease losses	43		(24)	129	148
Balance, end of period	$	1,143	185	887	2,215

(a)The Bancorp recorded $9 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.


For the three months ended March 31, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
Balance, beginning of period	$	1,102	235	555	1,892
Losses charged off(a)	(11)		(1)	(52)	(64)
Recoveries of losses previously charged off(a)	3		2	25	30
Benefit from loan and lease losses	16		3	31	50
Balance, end of period	$	1,110	239	559	1,908

(a)The Bancorp recorded $8 in both losses charged off and recoveries of losses previously charged off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

Summary of the ALLL and Related Loans and Leases Classified by Portfolio Segment

The following tables provide a summary of the ALLL and related loans and leases classified by portfolio segment:


As of March 31, 2023 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	78	—	2	80
Collectively evaluated	1,065		185	885	2,135
Total ALLL	$	1,143	185	887	2,215
Portfolio loans and leases:(b)
Individually evaluated	$	319	92	49	460
Collectively evaluated	76,920		17,388	27,961	122,269
Total portfolio loans and leases	$	77,239	17,480	28,010	122,729

(a)Includes $2 related to commercial leveraged leases at March 31, 2023.

(b)Excludes $128 of residential mortgage loans measured at fair value and includes $248 of commercial leveraged leases, net of unearned income at March 31, 2023.


As of December 31, 2022 ($ in millions)	Commercial		Residential Mortgage	Consumer	Total
ALLL:(a)
Individually evaluated	$	30	47	45	122
Collectively evaluated	1,097		198	777	2,072
Total ALLL	$	1,127	245	822	2,194
Portfolio loans and leases:(b)
Individually evaluated	$	531	560	297	1,388
Collectively evaluated	75,858		16,945	27,166	119,969

Total portfolio loans and leases	$	76,389	17,505	27,463	121,357

(a)Includes $2 related to commercial leveraged leases at December 31, 2022.

(b)Excludes $123 of residential mortgage loans measured at fair value and includes $247 of commercial leveraged leases, net of unearned income at December 31, 2022.

Loan and Leases Balances by Credit Quality Indicator

The following tables present the amortized cost basis of the Bancorp’s commercial portfolio segment, by class and vintage, disaggregated by credit risk grade:


As of March 31, 2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Commercial and industrial loans:
Pass	$	805	4,364	2,673	885	402	648	44,136	—	53,913
Special mention	7		44	11	8	36	36	1,414	—	1,556
Substandard	76		121	58	218	25	108	1,630	—	2,236
Doubtful	—		—	2	—	—	—	13	—	15
Total commercial and industrial loans	$	888	4,529	2,744	1,111	463	792	47,193	—	57,720
Commercial mortgage owner-occupied loans:
Pass	$	240	1,139	754	477	248	369	1,743	—	4,970
Special mention	12		14	29	3	2	12	22	—	94
Substandard	25		20	21	17	71	37	140	—	331
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner- occupied loans	$	277	1,173	804	497	321	418	1,905	—	5,395
Commercial mortgage nonowner-occupied loans:
Pass	$	165	1,087	447	474	393	345	2,508	—	5,419
Special mention	47		—	32	26	—	2	139	—	246
Substandard	27		30	24	18	1	17	51	—	168
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	239	1,117	503	518	394	364	2,698	—	5,833
Commercial construction loans:
Pass	$	14	73	31	87	8	34	4,980	—	5,227
Special mention	—		—	33	—	—	—	147	—	180
Substandard	4		49	—	—	—	2	86	—	141
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	18	122	64	87	8	36	5,213	—	5,548
Commercial leases:
Pass	$	271	495	606	280	186	799	—	—	2,637
Special mention	—		3	9	4	2	16	—	—	34
Substandard	7		5	15	2	3	40	—	—	72
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	278	503	630	286	191	855	—	—	2,743
Total commercial loans and leases:
Pass	$	1,495	7,158	4,511	2,203	1,237	2,195	53,367	—	72,166
Special mention	66		61	114	41	40	66	1,722	—	2,110
Substandard	139		225	118	255	100	204	1,907	—	2,948
Doubtful	—		—	2	—	—	—	13	—	15
Total commercial loans and leases	$	1,700	7,444	4,745	2,499	1,377	2,465	57,009	—	77,239


As of December 31, 2022 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2022		2021	2020	2019	2018	Prior			Total
Commercial and industrial loans:
Pass	$	3,825	3,098	994	445	269	488	44,521	—	53,640
Special mention	65		24	15	36	10	24	1,221	—	1,395
Substandard	150		77	233	26	7	107	1,597	—	2,197
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial and industrial loans	$	4,040	3,199	1,242	507	286	619	47,339	—	57,232
Commercial mortgage owner-occupied loans:
Pass	$	1,177	826	522	257	160	264	1,624	—	4,830
Special mention	17		15	13	12	13	2	56	—	128
Substandard	51		14	20	73	11	25	106	—	300
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage owner-occupied loans	$	1,245	855	555	342	184	291	1,786	—	5,258
Commercial mortgage nonowner-occupied loans:
Pass	$	1,127	462	490	397	220	170	2,453	—	5,319
Special mention	1		84	26	—	—	23	88	—	222
Substandard	65		19	18	1	1	17	100	—	221
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial mortgage nonowner-occupied loans	$	1,193	565	534	398	221	210	2,641	—	5,762
Commercial construction loans:
Pass	$	82	31	93	8	35	7	4,684	—	4,940
Special mention	—		—	—	—	—	—	293	—	293
Substandard	53		—	—	—	—	2	145	—	200
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial construction loans	$	135	31	93	8	35	9	5,122	—	5,433
Commercial leases:
Pass	$	584	664	306	192	146	696	—	—	2,588
Special mention	—		4	2	4	7	19	—	—	36
Substandard	1		20	2	4	21	32	—	—	80
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial leases	$	585	688	310	200	174	747	—	—	2,704
Total commercial loans and leases:
Pass	$	6,795	5,081	2,405	1,299	830	1,625	53,282	—	71,317
Special mention	83		127	56	52	30	68	1,658	—	2,074
Substandard	320		130	273	104	40	183	1,948	—	2,998
Doubtful	—		—	—	—	—	—	—	—	—
Total commercial loans and leases	$	7,198	5,338	2,734	1,455	900	1,876	56,888	—	76,389

The following table summarizes the Bancorp’s gross charge-offs within the commercial portfolio segment, by class and vintage:


For the three months ended March 31, 2023 ($ in millions)	Term Loans and Leases by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Commercial loans and leases:
Commercial and industrial loans	$	—	1	11	—	—	—	20	—	32


Commercial construction loans	—		—	—	—	—	—	1	—	1

Total commercial loans and leases	$	—	1	11	—	—	—	21	—	33

The following tables present the amortized cost basis of the Bancorp’s residential mortgage and consumer portfolio segments, by class and vintage, disaggregated by both age and performing versus nonperforming status:


As of March 31, 2023 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	249	3,222	5,355	2,931	1,028	4,543	—	—	17,328
30-89 days past due	—		1	2	3	1	10	—	—	17
90 days or more past due	—		1	2	—	1	5	—	—	9
Total performing	249		3,224	5,359	2,934	1,030	4,558	—	—	17,354
Nonperforming	—		1	3	4	4	114	—	—	126
Total residential mortgage loans(b)	$	249	3,225	5,362	2,938	1,034	4,672	—	—	17,480
Home equity:
Performing:
Current	$	14	45	3	7	14	106	3,663	14	3,866
30-89 days past due	—		—	—	—	—	2	21	—	23
90 days or more past due	—		—	—	—	—	1	—	—	1
Total performing	14		45	3	7	14	109	3,684	14	3,890
Nonperforming	—		—	—	—	—	7	60	1	68
Total home equity	$	14	45	3	7	14	116	3,744	15	3,958
Indirect secured consumer loans:
Performing:
Current	$	1,595	5,526	5,355	2,302	1,041	528	—	—	16,347
30-89 days past due	2		32	33	19	14	10	—	—	110
90 days or more past due	—		—	—	—	—	—	—	—	—
Total performing	1,597		5,558	5,388	2,321	1,055	538	—	—	16,457
Nonperforming	—		5	5	7	5	5	—	—	27
Total indirect secured consumer loans	$	1,597	5,563	5,393	2,328	1,060	543	—	—	16,484
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,696	—	1,696
30-89 days past due	—		—	—	—	—	—	18	—	18
90 days or more past due	—		—	—	—	—	—	18	—	18
Total performing	—		—	—	—	—	—	1,732	—	1,732
Nonperforming	—		—	—	—	—	—	29	—	29
Total credit card	$	—	—	—	—	—	—	1,761	—	1,761
Other consumer loans:
Performing:
Current	$	722	2,928	481	323	149	229	903	31	5,766
30-89 days past due	—		19	5	2	2	3	3	—	34
90 days or more past due	—		1	—	—	—	—	—	—	1
Total performing	722		2,948	486	325	151	232	906	31	5,801
Nonperforming	—		3	1	—	—	1	1	—	6
Total other consumer loans	$	722	2,951	487	325	151	233	907	31	5,807
Total residential mortgage and consumer loans:
Performing:
Current	$	2,580	11,721	11,194	5,563	2,232	5,406	6,262	45	45,003
30-89 days past due	2		52	40	24	17	25	42	—	202
90 days or more past due	—		2	2	—	1	6	18	—	29
Total performing	2,582		11,775	11,236	5,587	2,250	5,437	6,322	45	45,234
Nonperforming	—		9	9	11	9	127	90	1	256
Total residential mortgage and consumer loans(b)	$	2,582	11,784	11,245	5,598	2,259	5,564	6,412	46	45,490

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of March 31, 2023, $76 of these loans were 30-89 days past due and $154 were 90 days or more past due. The Bancorp recognized an immaterial amount of losses during the three months ended March 31, 2023, due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $128 of residential mortgage loans measured at fair value at March 31, 2023, including $3 of nonperforming loans.


As of December 31, 2022 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2022		2021	2020	2019	2018	Prior			Total
Residential mortgage loans:
Performing:
Current(a)	$	3,195	5,440	2,981	1,051	344	4,336	—	—	17,347
30-89 days past due	4		4	3	1	2	15	—	—	29
90 days or more past due	—		—	1	—	1	5	—	—	7
Total performing	3,199		5,444	2,985	1,052	347	4,356	—	—	17,383
Nonperforming	—		3	4	4	7	104	—	—	122
Total residential mortgage loans(b)	$	3,199	5,447	2,989	1,056	354	4,460	—	—	17,505
Home equity:
Performing:
Current	$	46	3	7	15	17	94	3,741	18	3,941
30-89 days past due	—		—	—	—	—	2	28	—	30
90 days or more past due	—		—	—	—	—	1	—	—	1
Total performing	46		3	7	15	17	97	3,769	18	3,972
Nonperforming	—		—	—	—	—	8	58	1	67
Total home equity	$	46	3	7	15	17	105	3,827	19	4,039
Indirect secured consumer loans:
Performing:
Current	$	6,034	5,875	2,600	1,217	416	239	—	—	16,381
30-89 days past due	34		42	28	22	11	5	—	—	142
90 days or more past due	—		—	—	—	—	—	—	—	—
Total performing	6,068		5,917	2,628	1,239	427	244	—	—	16,523
Nonperforming	4		6	7	6	4	2	—	—	29
Total indirect secured consumer loans	$	6,072	5,923	2,635	1,245	431	246	—	—	16,552
Credit card:
Performing:
Current	$	—	—	—	—	—	—	1,808	—	1,808
30-89 days past due	—		—	—	—	—	—	21	—	21
90 days or more past due	—		—	—	—	—	—	18	—	18
Total performing	—		—	—	—	—	—	1,847	—	1,847
Nonperforming	—		—	—	—	—	—	27	—	27
Total credit card	$	—	—	—	—	—	—	1,874	—	1,874
Other consumer loans:
Performing:
Current	$	2,704	540	355	169	112	146	908	26	4,960
30-89 days past due	14		6	3	2	2	2	3	—	32
90 days or more past due	—		—	—	—	—	—	1	—	1
Total performing	2,718		546	358	171	114	148	912	26	4,993
Nonperforming	2		1	—	—	—	1	1	—	5
Total other consumer loans	$	2,720	547	358	171	114	149	913	26	4,998
Total residential mortgage and consumer loans:
Performing:
Current	$	11,979	11,858	5,943	2,452	889	4,815	6,457	44	44,437
30-89 days past due	52		52	34	25	15	24	52	—	254
90 days or more past due	—		—	1	—	1	6	19	—	27
Total performing	12,031		11,910	5,978	2,477	905	4,845	6,528	44	44,718
Nonperforming	6		10	11	10	11	115	86	1	250
Total residential mortgage and consumer loans(b)	$	12,037	11,920	5,989	2,487	916	4,960	6,614	45	44,968

(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2022, $81 of these loans were 30-89 days past due and $147 were 90 days or more past due. The Bancorp recognized $1 of losses during the three months ended March 31, 2022 due to claim denials and curtailments associated with these insured or guaranteed loans.

(b)Excludes $123 of residential mortgage loans measured at fair value at December 31, 2022, including $1 of 30-89 days past due loans and $2 of nonperforming loans.

The following table summarizes the Bancorp’s gross charge-offs within the residential mortgage and consumer portfolio segments, by class and vintage:


For the three months ended March 31, 2023 ($ in millions)	Term Loans by Origination Year							Revolving Loans	Revolving Loans Converted to Term Loans
	2023		2022	2021	2020	2019	Prior			Total
Residential mortgage loans	$	—	—	—	—	—	1	—	—	1
Consumer loans:
Home equity	—		—	—	—	—	—	1	—	1
Indirect secured consumer loans	—		8	6	4	3	2	—	—	23
Credit cards	—		—	—	—	—	20	—	—	20
Other consumer loans	—		10	5	3	2	3	8	1	32
Total residential mortgage and consumer loans	$	—	18	11	7	5	26	9	1	77

Financing Receivable, Past Due

The following tables summarize the Bancorp’s amortized cost basis in portfolio commercial loans and leases, by age and class:


	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of March 31, 2023 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	57,549	109	62	171	57,720	17
Commercial mortgage owner-occupied loans	5,386		6	3	9	5,395	—
Commercial mortgage nonowner-occupied loans	5,832		1	—	1	5,833	—
Commercial construction loans	5,541		2	5	7	5,548	—
Commercial leases	2,723		16	4	20	2,743	—
Total portfolio commercial loans and leases	$	77,031	134	74	208	77,239	17

(a)Includes accrual and nonaccrual loans and leases.


	Current Loans and Leases(a)		Past Due			Total Loans and Leases	90 Days Past Due and Still Accruing
As of December 31, 2022 ($ in millions)			30-89 Days(a)	90 Days or More(a)	Total Past Due
Commercial loans and leases:
Commercial and industrial loans	$	57,092	98	42	140	57,232	11
Commercial mortgage owner-occupied loans	5,241		14	3	17	5,258	—
Commercial mortgage nonowner-occupied loans	5,756		6	—	6	5,762	—
Commercial construction loans	5,424		7	2	9	5,433	—
Commercial leases	2,698		4	2	6	2,704	2
Total portfolio commercial loans and leases	$	76,211	129	49	178	76,389	13

(a)Includes accrual and nonaccrual loans and leases.

The following table presents the Bancorp’s portfolio loans that were modified to borrowers experiencing financial difficulty during the three months ended March 31, 2023, by age and portfolio class:


			Past Due
($ in millions)	Current		30-89 Days	90 Days or More	Total
Commercial loans:
Commercial and industrial loans	$	106	—	—	106
Commercial mortgage owner-occupied loans	1		—	—	1
Commercial mortgage nonowner-occupied loans	25		—	—	25
Commercial construction loans	31		—	—	31
Residential mortgage loans	23		1	—	24
Consumer loans:
Home equity	4		—	—	4

Credit card(a)	6		3	1	10
Other consumer loans	1		—	—	1
Total portfolio loans	$	197	4	1	202

(a)Credit card loans continue to be reported as delinquent after modification as they are not returned to current status until the borrower demonstrates a willingness and ability to repay the loan according to its modified terms.

Summary of the Amortized Cost Basis of the Bancorp's Collateral Dependent Loans

The following table presents the amortized cost basis of the Bancorp’s collateral-dependent loans and leases, by portfolio class, as of:


($ in millions)	March 31, 2023		December 31, 2022
Commercial loans and leases:
Commercial and industrial loans	$	276	433
Commercial mortgage owner-occupied loans	12		14
Commercial mortgage nonowner-occupied loans	21		27
Commercial construction loans	5		56
Commercial leases	5		1
Total commercial loans and leases	$	319	531
Residential mortgage loans	92		57
Consumer loans:
Home equity	43		46
Indirect secured consumer loans	6		6

Total consumer loans	$	49	52
Total portfolio loans and leases	$	460	640

Summary of the Bancorp's Nonperforming Loans and Leases by Class

The following table presents the amortized cost basis of the Bancorp’s nonaccrual loans and leases, by class, and OREO and other repossessed property as of:


	March 31, 2023				December 31, 2022
($ in millions)	With an ALLL		No Related ALLL	Total	With an ALLL	No Related ALLL	Total
Commercial loans and leases:
Commercial and industrial loans	$	239	41	280	114	101	215
Commercial mortgage owner-occupied loans	11		11	22	9	7	16
Commercial mortgage nonowner-occupied loans	18		4	22	20	4	24
Commercial construction loans	3		2	5	6	2	8
Commercial leases	4		1	5	—	—	—
Total nonaccrual portfolio commercial loans and leases	$	275	59	334	149	114	263
Residential mortgage loans	92		37	129	81	43	124
Consumer loans:
Home equity	55		13	68	45	22	67
Indirect secured consumer loans	26		1	27	26	3	29
Credit card	29		—	29	27	—	27
Other consumer loans	6		—	6	5	—	5
Total nonaccrual portfolio consumer loans	$	116	14	130	103	25	128
Total nonaccrual portfolio loans and leases(a)(b)	$	483	110	593	333	182	515
OREO and other repossessed property	—		30	30	—	24	24
Total nonperforming portfolio assets(a)(b)	$	483	140	623	333	206	539

(a)Excludes an immaterial amount of nonaccrual loans held for sale as of both March 31, 2023 and December 31, 2022.

(b)Includes $17 and $15 of nonaccrual government insured commercial loans whose repayments are insured by the SBA as of March 31, 2023 and December 31, 2022, respectively.

Financing Receivable, Modified

The following table presents the amortized cost basis of the Bancorp’s commercial portfolio loans that were modified for borrowers experiencing financial difficulty during the three months ended March 31, 2023, by portfolio class and type of modification:


($ in millions)	Term Extension		Interest Rate Reduction	Term Extension and Interest Rate Reduction	Total	% of Total Class
Commercial and industrial loans	$	105	1	—	106	0.18	%
Commercial mortgage owner-occupied loans	1		—	—	1	0.02
Commercial mortgage nonowner-occupied loans	22		—	3	25	0.43
Commercial construction loans	31		—	—	31	0.56
Total commercial portfolio loans	$	159	1	3	163	0.21	%

The following table presents the amortized cost basis of the Bancorp’s residential mortgage loans that were modified for borrowers experiencing financial difficulty during the three months ended March 31, 2023, by type of modification:


($ in millions)	Total		% of Total Class

Payment delay	$	8	0.05	%
Term extension and payment delay	14		0.08

Term extension, interest rate reduction and payment delay	2		0.01
Total residential mortgage portfolio loans	$	24	0.14	%

The following table presents the amortized cost basis of the Bancorp’s consumer portfolio loans that were modified for borrowers experiencing financial difficulty during the three months ended March 31, 2023, by portfolio class and type of modification:


($ in millions)	Interest Rate Reduction		Payment Deferral	Term Extension and Payment Deferral	Term Extension, Interest Rate Reduction and Payment Deferral	Total	% of Total Class
Home equity	$	—	—	1	3	4	0.10	%
Credit card	10		—	—	—	10	0.57
Other consumer loans	—		1	—	—	1	0.02
Total consumer portfolio loans	$	10	1	1	3	15	0.05	%

The following table presents the financial effects of the Bancorp’s portfolio loan modifications to borrowers experiencing financial difficulty during the three months ended March 31, 2023, by portfolio class:


			Financial Effects
Commercial loans:
Commercial and industrial loans			Weighted-average length of term extensions was 5 months.
Commercial mortgage owner-occupied loans			Weighted-average length of term extensions was 4 months.
Commercial mortgage nonowner-occupied loans			Weighted-average length of term extensions was 8 months and the weighted-average interest rate reduction was from 9.1% to 8.9%.
Commercial construction loans			Weighted-average length of term extensions was 12 months.
Residential mortgage loans			Weighted-average length of term extensions was 130 months and the amount of payment delays represented approximately 16% of the related loan balances.
Consumer loans:
Home equity			Weighted-average length of term extensions was 24.8 years, the weighted-average interest rate reduction was from 8.0% to 6.5% and the amount of payment deferrals represented approximately 6% of the related loan balances.

Credit card			Weighted-average interest rate reduction was from 23.2% to 3.9%.
Other consumer loans			Amount of payment deferrals represented approximately 6% of the related loan balances.

The following table provides a summary of portfolio loans, by class, modified in a TDR by the Bancorp during the three months ended:


March 31, 2022 ($ in millions)	Number of Loans Modified in a TDR During the Period(a)	Amortized Cost Basis in Loans Modified in a TDR During the Period		Increase (Decrease) to ALLL Upon Modification	Charge-offs Recognized Upon Modification
Commercial loans:
Commercial and industrial loans	30	$	91	13	—
Commercial mortgage owner-occupied loans	5	4		(1)	—


Residential mortgage loans	260	42		3	—
Consumer loans:
Home equity	52	7		(1)	—
Indirect secured consumer loans	1,274	27		—	—
Credit card	1,121	6		2	—
Total portfolio loans	2,742	$	177	16	—

(a)Represents number of loans post-modification and excludes loans previously modified in a TDR.

Summary of Subsequent Defaults

The following table provides a summary of TDRs that subsequently defaulted during the three months ended March 31, 2022 and were within 12 months of the restructuring date:


March 31, 2022 ($ in millions)(a)	Number of Contracts	Amortized Cost
Commercial loans:
Commercial and industrial loans	6	$	—


Residential mortgage loans	29	3
Consumer loans:
Home equity	10	1
Indirect secured consumer loans	25	—
Credit card	105	1
Total portfolio loans	175	$	5

(a)Excludes all loans held for sale and loans acquired with deteriorated credit quality which were accounted for within a pool.

Bank Premises and Equipment (Tables)

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Bank Premises and Equipment

The following table provides a summary of bank premises and equipment as of:


($ in millions)	March 31, 2023		December 31, 2022
Equipment	$	2,532	2,492
Buildings(a)	1,712		1,699
Land and improvements(a)	637		640
Leasehold improvements	581		568
Construction in progress(a)	133		124
Bank premises and equipment held for sale:
Land and improvements	16		17
Buildings	6		7

Accumulated depreciation and amortization	(3,398)		(3,360)
Total bank premises and equipment	$	2,219	2,187

(a)Buildings, land and improvements and construction in progress included $26 and $27 associated with parcels of undeveloped land intended for future branch expansion at March 31, 2023 and December 31, 2022, respectively.

Operating Lease Equipment (Tables)

3 Months Ended

Mar. 31, 2023

Future Lease Payments Receivable from Operating Leases

The following table presents future lease payments receivable from operating leases for the remainder of 2023 through 2028 and thereafter:


As of March 31, 2023 ($ in millions)	Undiscounted Cash Flows
Remainder of 2023	$	100
2024	105
2025	79
2026	51
2027	25
2028	10
Thereafter	15
Total operating lease payments	$	385

Lease Obligations - Lessee (Tables)

3 Months Ended

Mar. 31, 2023

Lease Assets and Lease Liabilities

The following table provides a summary of lease assets and lease liabilities as of:


($ in millions)	Condensed Consolidated Balance Sheets Caption	March 31, 2023		December 31, 2022
Assets
Operating lease right-of-use assets	Other assets	$	491	508
Finance lease right-of-use assets	Bank premises and equipment	145		150
Total right-of-use assets(a)		$	636	658
Liabilities
Operating lease liabilities	Accrued taxes, interest and expenses	$	582	599
Finance lease liabilities	Long-term debt	152		156
Total lease liabilities		$	734	755

(a) Operating and finance lease right-of-use assets are recorded net of accumulated amortization of $271 and $71, respectively, as of March 31, 2023, and $255 and $66, respectively, as of December 31, 2022.

Components of Lease Costs, Weighted-Average Lease Term and Discount Rate

The following table presents the components of lease costs:


($ in millions)	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
		2023		2022
Lease costs:
Amortization of ROU assets	Net occupancy and equipment expense	$	5	5
Interest on lease liabilities	Interest on long-term debt	1		1
Total finance lease costs		$	6	6
Operating lease cost	Net occupancy expense	$	22	20
Short-term lease cost	Net occupancy expense	1		—
Variable lease cost	Net occupancy expense	7		7
Sublease income	Net occupancy expense	(1)		(1)
Total operating lease costs		$	29	26
Total lease costs		$	35	32

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of:


	March 31, 2023		December 31, 2022
Weighted-average remaining lease term (years):
Operating leases	10.70		10.80
Finance leases	15.31		15.31
Weighted-average discount rate:
Operating leases	3.43	%	3.35
Finance leases	2.97		2.94

The following table presents information related to lease transactions for the three months ended March 31:


($ in millions)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:(a)
Operating cash flows from operating leases	$	23	22
Operating cash flows from finance leases	1		1
Financing cash flows from finance leases	4		4

Gains on sale-leaseback transactions	1		—

(a) The cash flows related to the short-term and variable lease payments are not included in the amounts in the table as they were not included in the measurement of lease liabilities.

Undiscounted Cash Flows for Operating Leases

The following table presents undiscounted cash flows for both operating leases and finance leases for the remainder of 2023 through 2028 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:


As of March 31, 2023 ($ in millions)	Operating Leases		Finance Leases	Total
Remainder of 2023	$	67	15	82
2024	86		21	107
2025	78		14	92
2026	69		9	78
2027	62		8	70
2028	53		9	62
Thereafter	298		120	418
Total undiscounted cash flows	$	713	196	909
Less: Difference between undiscounted cash flows and discounted cash flows	131		44	175
Present value of lease liabilities	$	582	152	734

Undiscounted Cash Flows for Finance Leases

The following table presents undiscounted cash flows for both operating leases and finance leases for the remainder of 2023 through 2028 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:


As of March 31, 2023 ($ in millions)	Operating Leases		Finance Leases	Total
Remainder of 2023	$	67	15	82
2024	86		21	107
2025	78		14	92
2026	69		9	78
2027	62		8	70
2028	53		9	62
Thereafter	298		120	418
Total undiscounted cash flows	$	713	196	909
Less: Difference between undiscounted cash flows and discounted cash flows	131		44	175
Present value of lease liabilities	$	582	152	734

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2023

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets

The details of the Bancorp’s intangible assets are shown in the following table:


($ in millions)	Gross Carrying Amount		Accumulated Amortization	Net Carrying Amount
As of March 31, 2023
Core deposit intangibles	$	209	(169)	40
Developed technology	106		(20)	86
Customer relationships	30		(8)	22
Other	18		(9)	9
Total intangible assets	$	363	(206)	157
As of December 31, 2022
Core deposit intangibles	$	229	(182)	47
Developed technology	106		(17)	89
Customer relationships	30		(7)	23
Other	20		(10)	10
Total intangible assets	$	385	(216)	169

Estimated Amortization Expense

Estimated amortization expense for the remainder of 2023 through 2027 is as follows:


($ in millions)	Total
Remainder of 2023	$	31
2024	35
2025	28
2026	22
2027	14

Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidation of VIEs

The following table provides a summary of assets and liabilities carried on the Condensed Consolidated Balance Sheets for the consolidated VIEs as of:


($ in millions)	March 31, 2023		December 31, 2022
Assets:
Other short-term investments	$	5	17
Indirect secured consumer loans	—		141
Other consumer loans	44		44
ALLL	(1)		(2)
Other assets	—		2
Total assets	$	48	202
Liabilities:
Other liabilities	$	9	9
Long-term debt	38		118
Total liabilities	$	47	127

Assets and Liabilities Related to Non-consolidated VIEs and Maximum Exposure to Losses

The following tables provide a summary of assets and liabilities carried on the Condensed Consolidated Balance Sheets related to non-consolidated VIEs for which the Bancorp holds an interest, but is not the primary beneficiary of the VIE, as well as the Bancorp’s maximum exposure to losses associated with its interests in the entities as of:


March 31, 2023 ($ in millions)	Total Assets		Total Liabilities	Maximum Exposure
CDC investments	$	1,886	687	1,886
Private equity investments	187		—	360
Loans provided to VIEs	4,171		—	6,306
Lease pool entities	55		—	55
Solar loan securitizations	10		—	10


December 31, 2022 ($ in millions)	Total Assets		Total Liabilities	Maximum Exposure
CDC investments	$	1,856	653	1,856
Private equity investments	186		—	349
Loans provided to VIEs	4,374		—	6,438
Lease pool entities	61		—	61
Solar loan securitizations	10		—	10

Investments in Qualified Affordable Housing Tax Credits

The following table summarizes the impact to the Condensed Consolidated Statements of Income related to these investments:


	Condensed Consolidated Statements of Income Caption(a)	For the three months ended March 31,
($ in millions)		2023		2022
Proportional amortization	Applicable income tax expense	$	43	35
Tax credits and other benefits	Applicable income tax expense	(51)		(41)

(a)The Bancorp did not recognize impairment losses resulting from the forfeiture or ineligibility of tax credits or other circumstances during both the three months ended March 31, 2023 and 2022.

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.

Changes in Servicing Assets

Sales of Receivables and Servicing Rights (Tables)

3 Months Ended

Mar. 31, 2023

Transfers and Servicing [Abstract]

Information related to residential mortgage loan sales and the Bancorp’s mortgage banking activity, which is included in mortgage banking net revenue in the Condensed Consolidated Statements of Income, is as follows:


	For the three months ended March 31,
($ in millions)	2023		2022
Residential mortgage loan sales(a)	$	1,275	3,400

Origination fees and gains on loan sales	18		25
Gross mortgage servicing fees	83		71

(a)Represents the unpaid principal balance at the time of the sale.

The following table presents changes in the servicing rights related to residential mortgage loans for the three months ended March 31:


($ in millions)	2023		2022
Balance, beginning of period	$	1,746	1,121
Servicing rights originated	16		47
Servicing rights purchased	16		139
Changes in fair value:
Due to changes in inputs or assumptions(a)	(19)		190
Other changes in fair value(b)	(34)		(53)
Balance, end of period	$	1,725	1,444

(a)Primarily reflects changes in prepayment speed and OAS assumptions which are updated based on market interest rates.

(b)Primarily reflects changes due to realized cash flows and the passage of time.

Activity Related to the MSR Portfolio

The following table presents activity related to valuations of the MSR portfolio and the impact of the non-qualifying hedging strategy:


	For the three months ended March 31,
($ in millions)	2023		2022
Securities losses, net – non-qualifying hedges on mortgage servicing rights	$	—	(1)
Changes in fair value and settlement of free-standing derivatives purchased to economically hedge the MSR portfolio(a)	21		(181)
MSR fair value adjustment due to changes in inputs or assumptions(a)	(19)		190

(a)Included in mortgage banking net revenue in the Condensed Consolidated Statements of Income.

Servicing Assets and Residual Interests Economic Assumptions

The key economic assumptions used in measuring the servicing rights related to residential mortgage loans that continued to be held by the Bancorp at the date of sale, securitization or purchase resulting from transactions completed during the three months ended March 31, 2023 and 2022 were as follows:


	March 31, 2023				March 31, 2022
	Weighted- Average Life (in years)	Prepayment Speed (annual)		OAS (bps)	Weighted- Average Life (in years)	Prepayment Speed (annual)		OAS (bps)
Fixed-rate	6.7	12.4	%	621	7.3	8.1	%	729
Adjustable-rate	3.0	27.9		774	2.8	27.7		798

Sensitivity of the Current Fair Value of Residual Cash Flows to Immediate 10%, 20% and 50% Adverse Changes in Assumptions

At March 31, 2023, the sensitivity of the current fair value of residual cash flows to immediate 10%, 20% and 50% adverse changes in prepayment speed assumptions and immediate 10% and 20% adverse changes in OAS for servicing rights related to residential mortgage loans are as follows:


($ in millions)(a)				Prepayment Speed Assumption						OAS Assumption
	Fair Value		Weighted- Average Life (in years)			Impact of Adverse Change on Fair Value				OAS (bps)	Impact of Adverse Change on Fair Value
				Rate		10%		20%	50%		10%		20%
Fixed-rate	$	1,720	8.6	5.6	%	$	(42)	(80)	(178)	629	$	(45)	(87)
Adjustable-rate	5		5.1	20.3		(1)		(1)	(2)	1,204	—		—

(a)The impact of the weighted-average default rate on the current fair value of residual cash flows for all scenarios is immaterial.

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following tables reflect the notional amounts and fair values for all derivative instruments included in the Condensed Consolidated Balance Sheets as of:


			Fair Value
March 31, 2023 ($ in millions)	Notional Amount		Derivative Assets		Derivative Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt	$	5,955	164		144

Total fair value hedges			164		144
Cash flow hedges:
Interest rate floors related to C&I loans	3,000		4		—
Interest rate swaps related to C&I loans	8,000		—		80
Interest rate swaps related to C&I loans - forward starting(a)	10,000		6		1
Interest rate swaps related to commercial mortgage and commercial construction loans	4,000		—		14
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)	4,000		4		—
Total cash flow hedges			14		95
Total derivatives designated as qualifying hedging instruments			178		239
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives – risk management and other business purposes:
Interest rate contracts related to MSR portfolio	2,700		61		3
Forward contracts related to residential mortgage loans held for sale(b)	960		1		8
Swap associated with the sale of Visa, Inc. Class B Shares	3,644		—		192
Foreign exchange contracts	194		—		1
Interest-only strips	58		4		—
Interest rate contracts for collateral management	12,000		10		10

Interest rate contracts for LIBOR transition	597		—		—
Total free-standing derivatives – risk management and other business purposes			76		214
Free-standing derivatives – customer accommodation:
Interest rate contracts(c)	91,778		893		1,385
Interest rate lock commitments	367		7		—
Commodity contracts	16,942		1,153		1,056
TBA securities	34		—		—
Foreign exchange contracts	24,329		450		406
Total free-standing derivatives – customer accommodation			2,503		2,847
Total derivatives not designated as qualifying hedging instruments			2,579		3,061
Total			$	2,757	3,300

(a)Forward starting swaps will become effective on various dates between October 2023 and February 2025.

(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments.

(c)Derivative assets and liabilities are presented net of variation margin of $505 and $27, respectively.


			Fair Value
December 31, 2022 ($ in millions)	Notional Amount		Derivative Assets		Derivative Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt	$	5,955	126		195

Total fair value hedges			126		195
Cash flow hedges:
Interest rate floors related to C&I loans	3,000		4		—
Interest rate swaps related to C&I loans	8,000		—		76
Interest rate swaps related to C&I loans - forward starting(a)	11,000		22		—
Interest rate swaps related to commercial mortgage and commercial construction loans	4,000		—		25
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)	4,000		5		—
Total cash flow hedges			31		101
Total derivatives designated as qualifying hedging instruments			157		296
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives – risk management and other business purposes:
Interest rate contracts related to MSR portfolio	2,975		62		17
Forward contracts related to residential mortgage loans held for sale(b)	1,869		9		7
Swap associated with the sale of Visa, Inc. Class B Shares	3,358		—		195
Foreign exchange contracts	156		1		—
Interest-only strips	58		4		—
Interest rate contracts for collateral management	12,000		9		1
Interest rate contracts for LIBOR transition	597		—		—
Total free-standing derivatives – risk management and other business purposes			85		220
Free-standing derivatives – customer accommodation:
Interest rate contracts(c)	83,605		998		1,663
Interest rate lock commitments	216		2		1
Commodity contracts	16,122		1,478		1,350
TBA securities	62		—		—
Foreign exchange contracts	25,322		453		422
Total free-standing derivatives – customer accommodation			2,931		3,436
Total derivatives not designated as qualifying hedging instruments			3,016		3,656
Total			$	3,173	3,952

(a)Forward starting swaps will become effective on various dates between February 2023 and February 2025.

(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments.

(c)Derivative assets and liabilities are presented net of variation margin of $694 and $37, respectively.

Net Gains (Losses) Recognized in the Income Statement Related to Derivatives in Fair Value Hedging Relationships

The following table reflects the changes in fair value of interest rate contracts, designated as fair value hedges and the changes in fair value of the related hedged items attributable to the risk being hedged, as well as the line items in the Condensed Consolidated Statements of Income in which the corresponding gains or losses are recorded:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Long-term debt:
Change in fair value of interest rate swaps hedging long-term debt	Interest on long-term debt	$	92	(152)
Change in fair value of hedged long-term debt attributable to the risk being hedged	Interest on long-term debt	(89)		152
Available-for-sale debt and other securities:
Change in fair value of interest rate swaps hedging available-for-sale debt and other securities	Interest on securities	—		8
Change in fair value of hedged available-for-sale debt and other securities attributable to the risk being hedged	Interest on securities	—		(8)

The following amounts were recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of:


($ in millions)	Condensed Consolidated Balance Sheets Caption	March 31, 2023		December 31, 2022
Long-term debt:
Carrying amount of the hedged items	Long-term debt	$	5,954	5,865
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	Long-term debt	25		(64)
Available-for-sale debt and other securities:
Cumulative amount of fair value hedging adjustments remaining for hedged items for which hedge accounting has been discontinued	Available-for-sale debt and other securities	(13)		(14)

(a)The carrying amount represents the amortized cost basis of the hedged items (which excludes unrealized gains and losses) plus the fair value hedging adjustments.

Net Gains (Losses) Relating to Derivative Instruments Designated as Cash Flow Hedges

The following table presents the pre-tax net gains (losses) recorded in the Condensed Consolidated Statements of Income and in the Condensed Consolidated Statements of Comprehensive Income relating to derivative instruments designated as cash flow hedges:


	For the three months ended March 31,
($ in millions)	2023		2022
Amount of pre-tax net gains (losses) recognized in OCI	$	278	(407)
Amount of pre-tax net (losses) gains reclassified from OCI into net income	(65)		78

Schedule of Price Risk Derivatives

The net (losses) gains recorded in the Condensed Consolidated Statements of Income relating to free-standing derivative instruments used for risk management and other business purposes are summarized in the following table:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Interest rate contracts:
Forward contracts related to residential mortgage loans held for sale	Mortgage banking net revenue	$	(9)	33
Interest rate contracts related to MSR portfolio	Mortgage banking net revenue	21		(181)
Foreign exchange contracts:
Foreign exchange contracts for risk management purposes	Other noninterest income	—		(2)
Equity contracts:
Swap associated with sale of Visa, Inc. Class B Shares	Other noninterest income	(31)		(11)

Risk Ratings of the Notional Amount of Risk Participation Agreements

Risk ratings of the notional amount of risk participation agreements under this risk rating system are summarized in the following table as of:


($ in millions)	March 31, 2023		December 31, 2022
Pass	$	3,738	3,597
Special mention	61		81
Substandard	72		32
Total	$	3,871	3,710

Net Gains (Losses) Recognized in the Income Statement Related to Free-Standing Derivative Instruments Used For Customer Accommodation

The net gains (losses) recorded in the Condensed Consolidated Statements of Income relating to free-standing derivative instruments used for customer accommodation are summarized in the following table:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Interest rate contracts:
Interest rate contracts for customers (contract revenue)	Commercial banking revenue	$	10	16

Interest rate contracts for customers (credit portion of fair value adjustment)	Other noninterest expense	(3)		6
Interest rate lock commitments	Mortgage banking net revenue	13		—
Commodity contracts:
Commodity contracts for customers (contract revenue)	Commercial banking revenue	10		9
Commodity contracts for customers (credit portion of fair value adjustment)	Other noninterest expense	(1)		(1)

Foreign exchange contracts:
Foreign exchange contracts for customers (contract revenue)	Commercial banking revenue	19		16
Foreign exchange contracts for customers (contract revenue)	Other noninterest income	(3)		2
Foreign exchange contracts for customers (credit portion of fair value adjustment)	Other noninterest expense	1		(1)

Offsetting Derivative Financial Instruments

The following table provides a summary of offsetting derivative financial instruments:


	Gross Amount Recognized in the Condensed Consolidated Balance Sheets(a)		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
			Derivatives	Collateral(b)	Net Amount
As of March 31, 2023
Derivative assets	$	2,750	(1,096)	(894)	760
Derivative liabilities	3,300		(1,096)	(219)	1,985
As of December 31, 2022
Derivative assets	$	3,171	(1,405)	(887)	879
Derivative liabilities	3,951		(1,405)	(406)	2,140

(a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements.

(b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Condensed Consolidated Balance Sheets were excluded from this table.

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Summary of Other Short-Term Borrowings

Other Short-Term Borrowings (Tables)

3 Months Ended

Mar. 31, 2023

Short-Term Debt [Abstract]

The following table presents a summary of the Bancorp’s other short-term borrowings as of:


($ in millions)	March 31, 2023		December 31, 2022
FHLB advances	$	6,800	4,300
Securities sold under repurchase agreements	330		388
Derivative collateral	208		124
Other borrowed money	26		26
Total other short-term borrowings	$	7,364	4,838

Capital Actions (Tables)

3 Months Ended

Mar. 31, 2023

Summary of the Bancorp's Accelerated Share Repurchase Transactions

The following table presents a summary of the Bancorp’s accelerated share repurchase transaction that was entered into and settled during the three months ended March 31, 2023:

Repurchase Date

Amount
($ in millions)

Shares Repurchased on Repurchase Date

Shares Received from Forward Contract Settlement

Total Shares Repurchased

Final Settlement Date

January 24, 2023

$

200

4,911,875

678,121

5,589,996

March 06, 2023

Commitments, Contingent Liabilities and Guarantees (Tables)

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of Significant Commitments

The following table reflects a summary of significant commitments as of:


($ in millions)	March 31, 2023		December 31, 2022
Commitments to extend credit	$	84,732	83,437
Letters of credit	2,046		2,009
Forward contracts related to residential mortgage loans held for sale	960		1,869
Capital commitments for private equity investments	173		163
Purchase obligations	102		113
Capital expenditures	97		94

Credit Risk Associated with Commitments

Risk ratings of outstanding commitments to extend credit under this risk rating system are summarized in the following table as of:


($ in millions)	March 31, 2023		December 31, 2022
Pass	$	82,677	81,345
Special mention	756		976
Substandard	1,299		1,116

Total commitments to extend credit	$	84,732	83,437

Standby and Commercial Letters of Credit, Conditional Commitments Issued to Guarantee the Performance of a Customer to a Third Party

Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party and expire as summarized in the following table as of March 31, 2023:


($ in millions)
Less than 1 year(a)	$	988
1 - 5 years(a)	1,047
Over 5 years	11
Total letters of credit	$	2,046

(a)Includes $2 and $3 issued on behalf of commercial customers to facilitate trade payments in U.S. dollars and foreign currencies which expire in less than 1 year and between 1 - 5 years, respectively.

Credit Risk Associated with Letters of Credit

Risk ratings of outstanding letters of credit under this risk rating system are summarized in the following table as of:


($ in millions)	March 31, 2023		December 31, 2022
Pass	$	1,849	1,827
Special mention	58		47
Substandard	138		135
Doubtful	1		—
Total letters of credit	$	2,046	2,009

Visa Funding and Bancorp Cash Payments

After the Bancorp’s sale of the Class B Shares, Visa has funded additional amounts into the litigation escrow account which have resulted in further dilutive adjustments to the conversion of Class B Shares into Class A Shares, and along with other terms of the total return swap, required the Bancorp to make cash payments in varying amounts to the swap counterparty as follows:


Period ($ in millions)	Visa Funding Amount		Bancorp Cash Payment Amount
Q2 2010	$	500	20
Q4 2010	800		35
Q2 2011	400		19
Q1 2012	1,565		75
Q3 2012	150		6
Q3 2014	450		18
Q2 2018	600		26
Q3 2019	300		12
Q4 2021	250		11
Q2 2022	600		25
Q4 2022	350		15

Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2023

Activity of the Components of Other Comprehensive Income and Accumulated Other Comprehensive Income

The tables below present the activity of the components of OCI and AOCI for the three months ended:


	Total OCI				Total AOCI
March 31, 2023 ($ in millions)	Pre-tax Activity		Tax Effect	Net Activity	Beginning Balance	Net Activity	Ending Balance
Unrealized holding gains on available-for-sale debt securities arising during period	$	788	(188)	600
Reclassification adjustment for net gains on available-for-sale debt securities included in net income	—		—	—
Net unrealized losses on available-for-sale debt securities	788		(188)	600	(4,589)	600	(3,989)

Unrealized holding gains on cash flow hedge derivatives arising during period	278		(63)	215
Reclassification adjustment for net losses on cash flow hedge derivatives included in net income	65		(15)	50
Net unrealized losses on cash flow hedge derivatives	343		(78)	265	(498)	265	(233)


Reclassification of amounts to net periodic benefit costs	—		—	—
Defined benefit pension plans, net	—		—	—	(19)	—	(19)

Other	—		—	—	(4)	—	(4)
Total	$	1,131	(266)	865	(5,110)	865	(4,245)


	Total OCI				Total AOCI
March 31, 2022 ($ in millions)	Pre-tax Activity		Tax Effect	Net Activity	Beginning Balance	Net Activity	Ending Balance
Unrealized holding losses on available-for-sale debt securities arising during period	$	(2,505)	576	(1,929)
Reclassification adjustment for net gains on available-for-sale debt securities included in net income	(3)		1	(2)
Net unrealized losses on available-for-sale debt securities	(2,508)		577	(1,931)	891	(1,931)	(1,040)

Unrealized holding losses on cash flow hedge derivatives arising during period	(407)		94	(313)
Reclassification adjustment for net gains on cash flow hedge derivatives included in net income	(78)		18	(60)
Net unrealized losses on cash flow hedge derivatives	(485)		112	(373)	353	(373)	(20)


Reclassification of amounts to net periodic benefit costs	1		—	1
Defined benefit pension plans, net	1		—	1	(33)	1	(32)

Other	—		—	—	(4)	—	(4)
Total	$	(2,992)	689	(2,303)	1,207	(2,303)	(1,096)

Reclassification Out of Accumulated Other Comprehensive Income to Net Income

The table below presents reclassifications out of AOCI:


	Condensed Consolidated Statements of Income Caption	For the three months ended March 31,
($ in millions)		2023		2022
Net unrealized losses on available-for-sale debt securities:(b)
Net gains included in net income	Securities gains (losses), net	$	—	3
	Income before income taxes	—		3
	Applicable income tax expense	—		(1)
	Net income	—		2
Net unrealized losses on cash flow hedge derivatives:(b)
Interest rate contracts related to C&I, commercial mortgage and commercial construction loans	Interest and fees on loans and leases	(65)		78
	Income before income taxes	(65)		78
	Applicable income tax expense	15		(18)
	Net income	(50)		60
Net periodic benefit costs:(b)
Amortization of net actuarial loss	Compensation and benefits(a)	—		(1)

	Income before income taxes	—		(1)
	Applicable income tax expense	—		—
	Net income	—		(1)

Total reclassifications for the period	Net income	$	(50)	61

(a)This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 22 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2022 for further information.

(b)Amounts in parentheses indicate reductions to net income.

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic and Diluted

The following table provides the calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share:


	2023					2022
For the three months ended March 31, (in millions, except per share data)	Income		Average Shares	Per Share Amount		Income		Average Shares	Per Share Amount
Earnings Per Share:
Net income available to common shareholders	$	535				$	474
Less: Income allocated to participating securities	—					1
Net income allocated to common shareholders	$	535	684	$	0.78	$	473	688	$	0.69
Earnings Per Diluted Share:
Net income available to common shareholders	$	535				$	474
Effect of dilutive securities:
Stock-based awards	—		6			—		8
Net income available to common shareholders plus assumed conversions	$	535				$	474
Less: Income allocated to participating securities	—					1
Net income allocated to common shareholders plus assumed conversions	$	535	690	$	0.78	$	473	696	$	0.68

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize assets and liabilities measured at fair value on a recurring basis as of:


	Fair Value Measurements Using
March 31, 2023 ($ in millions)	Level 1		Level 2	Level 3	Total Fair Value
Assets:
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,689	—	—	2,689
Obligations of states and political subdivisions securities	—		3	—	3
Mortgage-backed securities:
Agency residential mortgage-backed securities	—		11,073	—	11,073
Agency commercial mortgage-backed securities	—		26,183	—	26,183
Non-agency commercial mortgage-backed securities	—		4,550	—	4,550
Asset-backed securities and other debt securities	—		5,331	—	5,331
Available-for-sale debt and other securities(a)	2,689		47,140	—	49,829
Trading debt securities:
U.S. Treasury and federal agencies securities	669		18	—	687
Obligations of states and political subdivisions securities	—		49	—	49
Agency residential mortgage-backed securities	—		11	—	11
Asset-backed securities and other debt securities	—		427	—	427
Trading debt securities	669		505	—	1,174
Equity securities	311		12	—	323
Residential mortgage loans held for sale	—		599	—	599
Residential mortgage loans(b)	—		—	128	128
Servicing rights	—		—	1,725	1,725
Derivative assets:
Interest rate contracts	3		1,140	11	1,154
Foreign exchange contracts	—		450	—	450
Commodity contracts	125		1,028	—	1,153
Derivative assets(c)	128		2,618	11	2,757
Total assets	$	3,797	50,874	1,864	56,535
Liabilities:
Derivative liabilities:
Interest rate contracts	$	8	1,629	8	1,645
Foreign exchange contracts	—		407	—	407
Equity contracts	—		—	192	192
Commodity contracts	34		1,022	—	1,056
Derivative liabilities(d)	42		3,058	200	3,300
Short positions:
U.S. Treasury and federal agencies securities	74		—	—	74
Asset-backed securities and other debt securities	—		148	—	148
Short positions(d)	74		148	—	222
Total liabilities	$	116	3,206	200	3,522

(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $396, $491 and $3, respectively, at March 31, 2023.

(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.

(c)Included in other assets in the Condensed Consolidated Balance Sheets.

(d)Included in other liabilities in the Condensed Consolidated Balance Sheets.


	Fair Value Measurements Using
December 31, 2022 ($ in millions)	Level 1		Level 2	Level 3	Total Fair Value
Assets:
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities	$	2,495	—	—	2,495
Obligations of states and political subdivisions securities	—		18	—	18
Mortgage-backed securities:
Agency residential mortgage-backed securities	—		11,237	—	11,237
Agency commercial mortgage-backed securities	—		26,322	—	26,322
Non-agency commercial mortgage-backed securities	—		4,715	—	4,715
Asset-backed securities and other debt securities	—		5,842	—	5,842
Available-for-sale debt and other securities(a)	2,495		48,134	—	50,629
Trading debt securities:
U.S. Treasury and federal agencies securities	23		22	—	45
Obligations of states and political subdivisions securities	—		14	—	14
Agency residential mortgage-backed securities	—		8	—	8
Asset-backed securities and other debt securities	—		347	—	347
Trading debt securities	23		391	—	414
Equity securities	306		11	—	317
Residential mortgage loans held for sale	—		600	—	600
Residential mortgage loans(b)	—		—	123	123
Servicing rights	—		—	1,746	1,746
Derivative assets:
Interest rate contracts	12		1,222	7	1,241
Foreign exchange contracts	—		454	—	454
Commodity contracts	56		1,422	—	1,478
Derivative assets(c)	68		3,098	7	3,173
Total assets	$	2,892	52,234	1,876	57,002
Liabilities:
Derivative liabilities:
Interest rate contracts	$	7	1,970	8	1,985
Foreign exchange contracts	—		422	—	422
Equity contracts	—		—	195	195
Commodity contracts	92		1,258	—	1,350
Derivative liabilities(d)	99		3,650	203	3,952
Short positions:
U.S. Treasury and federal agencies securities	66		—	—	66
Asset-backed securities and other debt securities	—		112	—	112
Short positions(d)	66		112	—	178
Total liabilities	$	165	3,762	203	4,130

(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $381, $491 and $2, respectively, at December 31, 2022.

(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.

(c)Included in other assets in the Condensed Consolidated Balance Sheets.

(d)Included in other liabilities in the Condensed Consolidated Balance Sheets.

Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs

The following tables are a reconciliation of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the three months ended March 31, 2023 ($ in millions)	Residential Mortgage Loans		Servicing Rights	Interest Rate Derivatives, Net(a)	Equity Derivatives	Total Fair Value
Balance, beginning of period	$	123	1,746	(1)	(195)	1,673
Total (losses) gains (realized/unrealized):(b)
Included in earnings	3		(53)	14	(31)	(67)
Purchases/originations	—		32	(2)	—	30
Settlements	(2)		—	(8)	34	24
Transfers into Level 3(c)	4		—	—	—	4
Balance, end of period	$	128	1,725	3	(192)	1,664
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at March 31, 2023	$	3	(35)	7	(31)	(56)

(a)Net interest rate derivatives include derivative assets and liabilities of $11 and $8, respectively, as of March 31, 2023.

(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at March 31, 2023.

(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the three months ended March 31, 2022 ($ in millions)	Residential Mortgage Loans		Servicing Rights	Interest Rate Derivatives, Net(a)	Equity Derivatives	Total Fair Value
Balance, beginning of period	$	154	1,121	4	(214)	1,065
Total gains (losses) (realized/unrealized):(b)
Included in earnings	(6)		137	2	(11)	122
Purchases/originations	—		186	(2)	—	184
Settlements	(9)		—	(6)	27	12
Transfers into Level 3(c)	6		—	—	—	6
Balance, end of period	$	145	1,444	(2)	(198)	1,389
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held at March 31, 2022	$	(6)	207	7	(11)	197

(a)Net interest rate derivatives include derivative assets and liabilities of $8 and $10, respectively, as of March 31, 2022.

(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at March 31, 2022.

(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

Total Gains and Losses Included in Earnings for Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs

The total losses and gains included in earnings for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were recorded in the Condensed Consolidated Statements of Income as follows:


	For the three months ended March 31,
($ in millions)	2023		2022
Mortgage banking net revenue	$	(37)	132
Commercial banking revenue	1		1
Other noninterest income	(31)		(11)
Total (losses) gains	$	(67)	122

The total losses and gains included in earnings attributable to changes in unrealized gains and losses related to Level 3 assets and liabilities still held at March 31, 2023 and 2022 were recorded in the Condensed Consolidated Statements of Income as follows:


	For the three months ended March 31,
($ in millions)	2023		2022
Mortgage banking net revenue	$	(26)	207
Commercial banking revenue	1		1
Other noninterest income	(31)		(11)
Total (losses) gains	$	(56)	197

Quantitative Information About Significant Unobservable Level 3 Fair Value Measurement Input, Recurring

The following tables present information as of March 31, 2023 and 2022 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured at fair value on a recurring basis:


As of March 31, 2023 ($ in millions)
Financial Instrument	Fair Value		Valuation Technique	Significant Unobservable Inputs	Range of Inputs			Weighted-Average
Residential mortgage loans	$	128	Loss rate model	Interest rate risk factor	(22.2)	-	5.7%		(10.3)	%	(a)
				Credit risk factor	—	-	23.2%		0.5	%	(a)
								(Fixed)	5.6	%	(b)
Servicing rights	1,725		DCF	Prepayment speed	—	-	100.0%	(Adjustable)	20.3	%	(b)
								(Fixed)	629		(b)
				OAS (bps)	477	-	1,447	(Adjustable)	1,204		(b)
IRLCs, net	7		DCF	Loan closing rates	22.3	-	97.5%		82.5	%	(c)
Swap associated with the sale of Visa, Inc. Class B Shares	(192)		DCF	Timing of the resolution of the Covered Litigation	Q1 2024	-	Q1 2027	Q2 2025			(d)

(a)Unobservable inputs were weighted by the relative carrying value of the instruments.

(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.

(c)Unobservable inputs were weighted by the relative notional amount of the instruments.

(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.


As of March 31, 2022 ($ in millions)
Financial Instrument	Fair Value		Valuation Technique	Significant Unobservable Inputs	Range of Inputs			Weighted-Average
Residential mortgage loans	$	145	Loss rate model	Interest rate risk factor	(13.2)	-	5.9 %		(3.7)	%	(a)
				Credit risk factor	—	-	20.7 %		0.2	%	(a)
								(Fixed)	6.7	%	(b)
Servicing rights	1,444		DCF	Prepayment speed	—	-	100.0 %	(Adjustable)	19.7	%	(b)
								(Fixed)	749		(b)
				OAS (bps)	615	-	1,513	(Adjustable)	1,092		(b)
IRLCs, net	6		DCF	Loan closing rates	42.0	-	98.3 %		85.9	%	(c)
Swap associated with the sale of Visa, Inc. Class B Shares	(198)		DCF	Timing of the resolution of the Covered Litigation	Q1 2023	-	Q2 2025	Q2 2024			(d)

(a)Unobservable inputs were weighted by the relative carrying value of the instruments.

(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.

(c)Unobservable inputs were weighted by the relative notional amount of the instruments.

(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following tables provide the fair value hierarchy and carrying amount of all assets that were held as of March 31, 2023 and 2022, and for which a nonrecurring fair value adjustment was recorded during the three months ended March 31, 2023 and 2022, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period.


	Fair Value Measurements Using					Total Losses
As of March 31, 2023 ($ in millions)	Level 1		Level 2	Level 3	Total	For the three months ended March 31, 2023
Commercial loans held for sale	$	—	—	21	21	—
Commercial loans and leases	—		—	160	160	(76)
Consumer and residential mortgage loans	—		—	138	138	(2)
OREO	—		—	2	2	—
Bank premises and equipment	—		—	5	5	(1)

Private equity investments	—		—	2	2	(1)
Total	$	—	—	328	328	(80)


	Fair Value Measurements Using					Total (Losses) Gains
As of March 31, 2022 ($ in millions)	Level 1		Level 2	Level 3	Total	For the three months ended March 31, 2022

Commercial loans and leases	—		—	178	178	(32)
Consumer and residential mortgage loans	—		—	117	117	—
OREO	—		—	1	1	1
Bank premises and equipment	—		—	1	1	—
Operating lease equipment	—		—	6	6	(2)
Private equity investments	—		9	2	11	(6)
Total	$	—	9	305	314	(39)

Quantitative Information About Significant Unobservable Level 3 Fair Value Measurement Input, Nonrecurring

The following tables present information as of March 31, 2023 and 2022 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured on a nonrecurring basis:

As of March 31, 2023 ($ in millions)

Financial Instrument

Fair Value

Valuation Technique

Significant Unobservable Inputs

Ranges of
Inputs

Weighted-Average

Commercial loans held for sale

$

21

Comparable company analysis

Market comparable transactions

NM

Commercial loans and leases

160

Appraised value

Collateral value

NM

Consumer and residential mortgage loans

138

Appraised value

Collateral value

NM

OREO

2

Appraised value

NM

Bank premises and equipment

5

Appraised value

NM

Private equity investments

2

Comparable company analysis

Market comparable transactions

NM

As of March 31, 2022 ($ in millions)

Financial Instrument

Fair Value

Valuation Technique

Significant Unobservable Inputs

Ranges of
Inputs

Weighted-Average

Commercial loans and leases

$

178

Appraised value

Collateral value

NM

Consumer and residential mortgage loans

117

Appraised value

Collateral value

NM

OREO

1

Appraised value

NM

Bank premises and equipment

1

Appraised value

NM

Operating lease equipment

6

Appraised value

NM

Private equity investments

2

Comparable company analysis

Market comparable transactions

NM

Difference Between the Fair Value and the Unpaid Principal Balance for Loans

The following table summarizes the difference between the fair value and the unpaid principal balance for residential mortgage loans measured at fair value as of:


March 31, 2023 ($ in millions)	Aggregate Fair Value		Aggregate Unpaid Principal Balance	Difference
Residential mortgage loans measured at fair value	$	727	735	(8)

Nonaccrual loans	3		3	—
December 31, 2022
Residential mortgage loans measured at fair value	$	723	733	(10)
Past due loans of 30-89 days or more	1		1	—
Nonaccrual loans	2		2	—

Carrying Amounts and Estimated Fair Values for Certain Financial Instruments

The following tables summarize the carrying amounts and estimated fair values for certain financial instruments, excluding financial instruments measured at fair value on a recurring basis:


	Net Carrying Amount		Fair Value Measurements Using			Total Fair Value
As of March 31, 2023 ($ in millions)			Level 1	Level 2	Level 3
Financial assets:
Cash and due from banks	$	2,780	2,780	—	—	2,780
Other short-term investments	9,794		9,794	—	—	9,794
Other securities	890		—	890	—	890
Held-to-maturity securities	2		—	—	2	2
Loans and leases held for sale	150		—	—	154	154
Portfolio loans and leases:
Commercial loans and leases	76,096		—	—	76,271	76,271
Consumer and residential mortgage loans	44,418		—	—	43,170	43,170
Total portfolio loans and leases, net	$	120,514	—	—	119,441	119,441
Financial liabilities:
Deposits	$	162,975	—	162,924	—	162,924
Federal funds purchased	177		177	—	—	177
Other short-term borrowings	7,364		—	7,362	—	7,362
Long-term debt	12,868		11,900	394	—	12,294


	Net Carrying Amount		Fair Value Measurements Using			Total Fair Value
As of December 31, 2022 ($ in millions)			Level 1	Level 2	Level 3
Financial assets:
Cash and due from banks	$	3,466	3,466	—	—	3,466
Other short-term investments	8,351		8,351	—	—	8,351
Other securities	874		—	874	—	874
Held-to-maturity securities	5		—	—	5	5
Loans and leases held for sale	407		—	—	414	414
Portfolio loans and leases:
Commercial loans and leases	75,262		—	—	75,104	75,104
Consumer and residential mortgage loans	43,901		—	—	42,193	42,193
Total portfolio loans and leases, net	$	119,163	—	—	117,297	117,297
Financial liabilities:
Deposits	$	163,690	—	163,634	—	163,634
Federal funds purchased	180		180	—	—	180
Other short-term borrowings	4,838		—	4,829	—	4,829
Long-term debt	13,778		13,218	411	—	13,629

Business Segments (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Results of Operations and Assets by Segment

The following tables present the results of operations and assets by business segment for the three months ended:


March 31, 2023 ($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	977	1,257	101	(818)		—		1,517
Provision for credit losses	46		51	—	67		—		164
Net interest income after provision for credit losses	$	931	1,206	101	(885)		—		1,353
Noninterest income:
Commercial banking revenue	$	160	1	—	—		—		161
Wealth and asset management revenue	1		53	138	—		(46)	(a)	146
Service charges on deposits	87		51	—	(1)		—		137
Card and processing revenue	22		74	1	3		—		100
Mortgage banking net revenue	—		69	—	—		—		69
Leasing business revenue	57		—	—	—		—		57
Other noninterest income(b)	16		25	(1)	(18)		—		22
Securities gains (losses), net	(7)		—	—	11		—		4
Securities losses, net – non-qualifying hedges on MSRs	—		—	—	—		—		—
Total noninterest income	$	336	273	138	(5)		(46)		696
Noninterest expense:
Compensation and benefits	$	190	224	61	282		—		757
Technology and communications	2		7	—	109		—		118
Net occupancy expense(d)	11		51	3	16		—		81
Equipment expense	7		11	—	19		—		37
Leasing business expense	34		—	—	—		—		34
Marketing expense	—		17	—	12		—		29
Card and processing expense	3		20	—	(1)		—		22
Other noninterest expense	304		315	82	(402)		(46)		253
Total noninterest expense	$	551	645	146	35		(46)		1,331
Income (loss) before income taxes	$	716	834	93	(925)		—		718
Applicable income tax expense (benefit)	136		175	19	(170)		—		160
Net income (loss)	$	580	659	74	(755)		—		558
Total goodwill	$	2,324	2,365	226	—		—		4,915
Total assets	$	83,545	85,296	11,707	28,109	(c)	—		208,657

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of $1 for bank premises and equipment recorded in Consumer and Small Business Banking and an immaterial amount recorded in General Corporate and Other. For more information, refer to Note 7 and Note 22.

(c)Includes bank premises and equipment of $22 classified as held for sale. For more information, refer to Note 7.

(d)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.


March 31, 2022 ($ in millions)	Commercial Banking			Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other		Eliminations		Total
Net interest income	$	523		517	35	120		—		1,195
Provision for (benefit from) credit losses	(34)			29	—	50		—		45
Net interest income after provision for (benefit from) credit losses	$	557		488	35	70		—		1,150
Noninterest income:
Commercial banking revenue	$	135		—	—	—		—		135
Wealth and asset management revenue	—			51	142	—		(44)	(a)	149
Service charges on deposits	100			53	—	(1)		—		152
Card and processing revenue	20			74	1	2		—		97
Mortgage banking net revenue	—			52	—	—		—		52
Leasing business revenue	62		(c)	—	—	—		—		62
Other noninterest income(b)	22			27	1	2		—		52
Securities losses, net	—			—	—	(14)		—		(14)
Securities losses, net – non-qualifying hedges on MSRs	—			(1)	—	—		—		(1)
Total noninterest income	$	339		256	144	(11)		(44)		684
Noninterest expense:
Compensation and benefits	$	182		218	60	251		—		711
Technology and communications	5			4	—	92		—		101
Net occupancy expense(e)	10			48	3	16		—		77
Equipment expense	7			9	—	20		—		36
Leasing business expense	32			—	—	—		—		32
Marketing expense	1			11	—	12		—		24
Card and processing expense	2			18	—	(1)		—		19
Other noninterest expense	240			293	79	(346)		(44)		222
Total noninterest expense	$	479		601	142	44		(44)		1,222
Income before income taxes	$	417		143	37	15		—		612
Applicable income tax expense	76			31	8	3		—		118
Net income	$	341		112	29	12		—		494
Total goodwill	$	1,980		2,303	231	—		—		4,514
Total assets	$	79,970		86,626	13,715	31,148	(d)	—		211,459

(a)Revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking are eliminated in the Condensed Consolidated Statements of Income.

(b)Includes impairment charges of an immaterial amount for bank premises and equipment recorded in Consumer and Small Business Banking. For more information, refer to Note 7 and Note 22.

(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8 and Note 22.

(d)Includes bank premises and equipment of $25 classified as held for sale. For more information, refer to Note 7.

(e)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Payments:
Interest	$ 682	$ 158
Income taxes	21	11
Transfers:
Portfolio loans and leases to loans and leases held for sale	3	71
Loans and leases held for sale to portfolio loans and leases	4	402
Portfolio loans and leases to OREO	3	2
Bank premises and equipment to OREO	8	15
Supplemental Disclosures:
Net additions to lease liabilities under operating leases	1	31
Net additions to lease liabilities under finance leases	$ 0	$ 3

Accounting and Reporting Developments (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2023

Jan. 01, 2023

Dec. 31, 2022

Mar. 31, 2022

Dec. 31, 2021

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Loans modified maintained on nonaccrual status, payment history, period

$ (2,215)

^[1]

$ (2,194)

^[1]

$ (1,908)

$ (1,892)

Retained earnings

$ 22,032

21,689

6 months

Chapter 7 Bankruptcy

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Loans modified maintained on accrual status, payment history, period

12 months

Large Commercial Loans And Leases

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Carrying value of loans and leases evaluated for ALLL

$ 1

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ (1,143)

(1,127)

(1,110)

(1,102)

Loans modified maintained on accrual status, payment history, period

90 days

6 months

Established threshold nonaccrual commercial loans

$ 1

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Residential Mortgage | Residential mortgage loans

$ (185)

(245)

(239)

(235)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Foreclosure process, period

150 days

180 days

Threshold period past due for accrual loans

90 days

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ (887)

(822)

$ (559)

$ (555)

Consumer | Home equity

Threshold period past due for nonaccrual loans, with senior lien in default

90 days

60 days

Senior lien in default, threshold period

120 days

Consumer | Credit card

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Threshold period past due

90 days

Loans modified maintained on nonaccrual status, payment history, period

6 months

Loans modified maintained on accrual status, payment history, period

6 months

Consumer | Indirect Secured Consumer Loan And Other Consumer Loan

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative Effect, Period of Adoption, Adjustment

90 days

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative Effect, Period of Adoption, Adjustment | Commercial

49

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative Effect, Period of Adoption, Adjustment | Residential Mortgage

(4)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative Effect, Period of Adoption, Adjustment | Consumer

36

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02

$ 17

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ 49

Retained earnings

$ 37

[1]

Includes $5 and $17 of other short-term investments, $44 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $38 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2023 and December 31, 2022, respectively. For further information, refer to Note 12.

Investment Securities - Investment Securities (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

$ 55,958

$ 57,530

19

(5,258)

(6,046)

^[1]

50,719

51,503

Held-to-maturity securities:

^[2]

2

5

0

0

U.S. Treasury and federal agencies securities

2

5

Trading debt securities

1,174

414

Equity securities

323

317

2,828

2,683

1

0

(140)

(188)

Obligations of states and political subdivisions securities

2,689

2,495

3

18

0

0

Agency mortgage-backed securities | Residential mortgage backed securities

3

18

Held-to-maturity securities:

3

0

0

3

12,246

12,604

6

5

(1,179)

(1,372)

Agency mortgage-backed securities | Commercial mortgage-backed securities

11,073

11,237

29,231

29,824

10

11

(3,058)

(3,513)

Non-agency mortgage-backed securities | Commercial mortgage-backed securities

26,183

26,322

5,057

5,235

0

(507)

(520)

Asset-backed securities and other debt securities

4,550

4,715

5,703

6,292

2

3

(374)

(453)

5,331

5,842

Held-to-maturity securities:

2

0

0

2

890

874

0

0

FHLB, restricted stock holdings

890

874

396

381

FRB, restricted stock holdings

491

DTCC, restricted stock holdings

$ 3

$ 2

[1]	Amortized cost of $55,958 and $57,530 at March 31, 2023 and December 31, 2022, respectively.
[2]	Fair value of $2 and $5 at March 31, 2023 and December 31, 2022, respectively.

Investment Securities - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Accrued interest receivables on investment securities	$ 137	$ 131
Securities with a fair value, pledged as collateral	21,100	11,000
Unrealized losses	5,258	6,046
Non-rated Securities
Summary of Investment Holdings [Line Items]
Unrealized losses	$ 20	$ 42

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480493/946-210-55-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (g)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483580/946-220-50-3

Available-for-Sale Debt and Other, Amortized Cost

Investment Securities - Gains and Losses Recognized in Income from Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Available-for-sale debt and other securities:
Realized gains	$ 29	$ 3
Realized losses	(29)	0
Net realized gains on available-for-sale debt and other securities	0	3
Trading debt securities:
Net realized losses	0	(1)
Net unrealized gains	0	11
Net trading debt securities gains	0	10
Equity securities:
Net realized gains	0	1
Net unrealized gains (losses)	4	(29)
Net equity securities gains (losses)	4	(28)
Total (losses) gains recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities	4	(15)
Commercial Banking Revenue and Wealth and Asset Management Revenue
Equity securities:
Securities gains (losses)	$ 1	$ (3)

Investment Securities - Amortized Cost and Fair Value of Available-for-Sale Debt and Held-to-Maturity Securities (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

$ 136

13,519

30,863

10,550

890

Available-for-Sale Debt and Other, Fair Value

55,958

$ 57,530

133

12,697

27,727

9,272

890

^[1]

50,719

51,503

Held-to-Maturity, Amortized Cost

0

0

0

2

0

^[2]

2

5

Held-to-Maturity, Fair Value

0

0

0

2

0

$ 2

$ 5

[1]	Amortized cost of $55,958 and $57,530 at March 31, 2023 and December 31, 2022, respectively.
[2]	Fair value of $2 and $5 at March 31, 2023 and December 31, 2022, respectively.

Investment Securities - Fair Value and Gross Unrealized Losses on Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value
Less than 12 months	$ 20,356	$ 41,346
12 months or more	28,511	8,190
Total	48,867	49,536
Unrealized Losses
Less than 12 months	(1,438)	(4,295)
12 months or more	(3,820)	(1,751)
Total	(5,258)	(6,046)
U.S. Treasury and federal agencies securities
Fair Value
Less than 12 months	863	2,400
12 months or more	1,622	0
Total	2,485	2,400
Unrealized Losses
Less than 12 months	(15)	(188)
12 months or more	(125)	0
Total	(140)	(188)
Obligations of states and political subdivisions securities
Fair Value
Less than 12 months	0	0
12 months or more	1	1
Total	1	1
Unrealized Losses
Less than 12 months	0	0
12 months or more	0	0
Total	0	0
Agency mortgage-backed securities \| Residential mortgage backed securities
Fair Value
Less than 12 months	4,293	10,078
12 months or more	6,616	938
Total	10,909	11,016
Unrealized Losses
Less than 12 months	(291)	(1,170)
12 months or more	(888)	(202)
Total	(1,179)	(1,372)
Agency mortgage-backed securities \| Commercial mortgage-backed securities
Fair Value
Less than 12 months	12,883	22,083
12 months or more	12,881	3,697
Total	25,764	25,780
Unrealized Losses
Less than 12 months	(1,047)	(2,487)
12 months or more	(2,011)	(1,026)
Total	(3,058)	(3,513)
Non-agency mortgage-backed securities \| Commercial mortgage-backed securities
Fair Value
Less than 12 months	788	3,621
12 months or more	3,761	1,059
Total	4,549	4,680
Unrealized Losses
Less than 12 months	(43)	(272)
12 months or more	(464)	(248)
Total	(507)	(520)
Asset-backed securities and other debt securities
Fair Value
Less than 12 months	1,529	3,164
12 months or more	3,630	2,495
Total	5,159	5,659
Unrealized Losses
Less than 12 months	(42)	(178)
12 months or more	(332)	(275)
Total	$ (374)	$ (453)

Loans and Leases - Loans and Leases Classified by Primary Purpose (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

^[1]

$ 749

$ 1,007

Commercial and industrial loans

57,720

57,232

Commercial mortgage loans

11,228

11,020

Commercial construction loans

5,548

5,433

Commercial leases

2,743

2,704

Indirect secured consumer loans

17,608

17,628

Home equity

3,958

4,039

16,484

16,552

Credit card

1,761

1,874

Other consumer loans

5,807

4,998

120,642

119,286

122,857

121,480

725

934

77,239

76,389

Commercial | Commercial and industrial loans

77,239

76,389

21

73

57,720

57,232

Commercial | Commercial leases

57,720

57,232

3

0

2,743

2,704

2,743

2,704

Accounts, Notes, Loans and Financing Receivable

$ 45,618

$ 45,091

[1]	Includes $599 and $600 of residential mortgage loans held for sale measured at fair value at March 31, 2023 and December 31, 2022, respectively.

Loans and Leases - Additional Information (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Dec. 31, 2022

Dec. 31, 2021

Unearned income

$ 262

$ 238

Net premium

51

146

Accrued interest receivable

548

518

Direct financing lease - interest income

6

$ 8

Sales type lease - interest income

15

11

Accounts, Notes, Loans and Financing Receivable

2,215

^[1]

$ 1,908

2,194

^[1]

$ 1,892

Commercial Leases

Federal Home Loan Bank Advances

18

15

Accounts, Notes, Loans and Financing Receivable

Loans pledged

15,800

15,900

FRB Loan

Accounts, Notes, Loans and Financing Receivable

Loans pledged

$ 56,100

$ 57,100

[1]

Includes $5 and $17 of other short-term investments, $44 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $38 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2023 and December 31, 2022, respectively. For further information, refer to Note 12.

Loans and Leases - Total Loans and Leases Managed by the Bancorp (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

$ 123,606

$ 122,487

46

40

^[1]

749

1,007

122,857

121,480

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

18,333

18,562

9

7

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

Commercial | Commercial and industrial loans

77,239

76,389

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

57,741

57,305

Commercial | Commercial mortgage loans

17

11

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

11,228

11,020

Commercial | Commercial construction loans

0

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

5,548

5,433

Commercial | Commercial leases

0

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

2,746

2,704

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

0

2

Consumer | Home equity

3,958

4,039

Consumer | Indirect secured consumer loans

1

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

16,484

16,552

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

0

Consumer | Credit card

1,761

1,874

Consumer | Other consumer loans

18

Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together

5,807

4,998

Financing Receivable, Allowance for Credit Loss [Roll Forward]

$ 1

[1]	Includes $599 and $600 of residential mortgage loans held for sale measured at fair value at March 31, 2023 and December 31, 2022, respectively.

Loans and Leases - Net Charge-Offs (Recoveries) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	$ 78	$ 34
Residential mortgage loans
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	0	(1)
Commercial \| Commercial and industrial loans
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	30	9
Commercial \| Commercial mortgage loans
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	0	(1)
Commercial \| Commercial construction loans
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	1	0
Consumer \| Home equity
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	0	(1)
Consumer \| Indirect secured consumer loans
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	14	7
Consumer \| Credit card
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	15	13
Consumer \| Other consumer loans
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together
Net charge-offs (recoveries)	$ 18	$ 8

Loans and Leases - Components of Net Investment in Leases (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Net investment in sales-type leases:
Leveraged leases	$ 248	$ 247
Direct Financing Leases
Net investment in direct financing leases:
Lease payment receivable (present value)	582	570
Unguaranteed residual assets (present value)	109	107
Sales-Type Leases
Net investment in sales-type leases:
Lease payment receivable (present value)	1,728	1,704
Unguaranteed residual assets (present value)	$ 76	$ 76

Loans and Leases - Undiscounted Cash Flows (Details) $ in Millions	Mar. 31, 2023 USD ($)
Direct Financing Leases
Accounts, Notes, Loans and Financing Receivable
Remainder of 2023	$ 145
2024	159
2025	113
2026	95
2027	58
2028	18
Thereafter	37
Total undiscounted cash flows	625
Less: Difference between undiscounted cash flows and discounted cash flows	43
Present value of lease payments (recognized as lease receivables)	582
Sales-Type Leases
Accounts, Notes, Loans and Financing Receivable
Remainder of 2023	388
2024	471
2025	409
2026	239
2027	177
2028	108
Thereafter	82
Total undiscounted cash flows	1,874
Less: Difference between undiscounted cash flows and discounted cash flows	146
Present value of lease payments (recognized as lease receivables)	$ 1,728

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Transactions in the ALLL by Portfolio Segment (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Dec. 31, 2022

$ 2,194

^[1]

$ 1,892

(110)

(64)

32

30

148

50

Accounting Standards Update [Extensible Enumeration]

2,215

^[1]

1,908

$ 2,194

^[1]

Accounting Standards Update 2022-02

Other Consumer Loans, Point of Sale

Financing Receivable, Allowance for Credit Loss [Roll Forward]

(9)

(8)

Cumulative Effect, Period of Adoption, Adjustment

9

8

Financing Receivable, Allowance for Credit Loss [Roll Forward]

(49)

$ (49)

Financing Receivable, Allowance for Credit Loss [Roll Forward]

1,127

1,102

(33)

(11)

2

3

43

16

Commercial | Cumulative Effect, Period of Adoption, Adjustment

1,143

1,110

1,127

Financing Receivable, Allowance for Credit Loss [Roll Forward]

4

4

Financing Receivable, Allowance for Credit Loss [Roll Forward]

245

235

(1)

1

2

(24)

3

Residential Mortgage | Cumulative Effect, Period of Adoption, Adjustment

185

239

245

Financing Receivable, Allowance for Credit Loss [Roll Forward]

(36)

(36)

Financing Receivable, Allowance for Credit Loss [Roll Forward]

822

555

(76)

(52)

29

25

129

31

Consumer | Cumulative Effect, Period of Adoption, Adjustment

887

$ 559

822

Financing Receivable, Allowance for Credit Loss [Roll Forward]

$ (17)

Financing Receivable, Allowance for Credit Loss [Line Items]

$ (17)

[1]

Includes $5 and $17 of other short-term investments, $44 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $38 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2023 and December 31, 2022, respectively. For further information, refer to Note 12.

Credit Quality and the Allowance for Loan and Lease Losses - Summary of the ALLL and Related Loans and Leases Classified by Portfolio Segment (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Mar. 31, 2022

Dec. 31, 2021

$ 80

$ 122

2,135

2,072

2,215

^[1]

2,194

^[1]

$ 1,908

$ 1,892

460

1,388

122,269

119,969

Commercial Leveraged Leases

122,729

121,357

Leveraged leases

248

247

Financing Receivable, Allowance for Credit Loss [Line Items]

2

Leveraged leases

248

247

Financing Receivable, Allowance for Credit Loss [Line Items]

78

30

1,065

1,097

1,143

1,127

1,110

1,102

319

531

76,920

75,858

77,239

76,389

Financing Receivable, Allowance for Credit Loss [Line Items]

0

47

185

198

185

245

239

235

92

560

17,388

16,945

17,480

17,505

128

123

145

Financing Receivable, Allowance for Credit Loss [Line Items]

2

45

885

777

887

822

$ 559

$ 555

49

297

27,961

27,166

$ 28,010

$ 27,463

[1]

Includes $5 and $17 of other short-term investments, $44 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $38 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2023 and December 31, 2022, respectively. For further information, refer to Note 12.

Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Credit Risk Profile of the Bancorp's Commercial Portfolio Segment by Class (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Modifications
Portfolio loans and leases, net	$ 120,642	$ 119,286
Commercial
Financing Receivable, Modifications
Year One	1,700	7,198
Year Two	7,444	5,338
Year Three	4,745	2,734
Year Four	2,499	1,455
Year Five	1,377	900
Prior	2,465	1,876
Revolving Loans	57,009	56,888
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	77,239	76,389
Commercial \| Pass
Financing Receivable, Modifications
Year One	1,495	6,795
Year Two	7,158	5,081
Year Three	4,511	2,405
Year Four	2,203	1,299
Year Five	1,237	830
Prior	2,195	1,625
Revolving Loans	53,367	53,282
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	72,166	71,317
Commercial \| Special mention
Financing Receivable, Modifications
Year One	66	83
Year Two	61	127
Year Three	114	56
Year Four	41	52
Year Five	40	30
Prior	66	68
Revolving Loans	1,722	1,658
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	2,110	2,074
Commercial \| Substandard
Financing Receivable, Modifications
Year One	139	320
Year Two	225	130
Year Three	118	273
Year Four	255	104
Year Five	100	40
Prior	204	183
Revolving Loans	1,907	1,948
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	2,948	2,998
Commercial \| Doubtful
Financing Receivable, Modifications
Year One	0	0
Year Two	0	0
Year Three	2	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Revolving Loans	13	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	15	0
Commercial \| Commercial and industrial loans
Financing Receivable, Modifications
Year One	888	4,040
Year Two	4,529	3,199
Year Three	2,744	1,242
Year Four	1,111	507
Year Five	463	286
Prior	792	619
Revolving Loans	47,193	47,339
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	57,720	57,232
Commercial \| Commercial and industrial loans \| Pass
Financing Receivable, Modifications
Year One	805	3,825
Year Two	4,364	3,098
Year Three	2,673	994
Year Four	885	445
Year Five	402	269
Prior	648	488
Revolving Loans	44,136	44,521
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	53,913	53,640
Commercial \| Commercial and industrial loans \| Special mention
Financing Receivable, Modifications
Year One	7	65
Year Two	44	24
Year Three	11	15
Year Four	8	36
Year Five	36	10
Prior	36	24
Revolving Loans	1,414	1,221
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	1,556	1,395
Commercial \| Commercial and industrial loans \| Substandard
Financing Receivable, Modifications
Year One	76	150
Year Two	121	77
Year Three	58	233
Year Four	218	26
Year Five	25	7
Prior	108	107
Revolving Loans	1,630	1,597
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	2,236	2,197
Commercial \| Commercial and industrial loans \| Doubtful
Financing Receivable, Modifications
Year One	0	0
Year Two	0	0
Year Three	2	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Revolving Loans	13	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	15	0
Commercial \| Commercial mortgage owner-occupied loans
Financing Receivable, Modifications
Year One	277	1,245
Year Two	1,173	855
Year Three	804	555
Year Four	497	342
Year Five	321	184
Prior	418	291
Revolving Loans	1,905	1,786
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	5,395	5,258
Commercial \| Commercial mortgage owner-occupied loans \| Pass
Financing Receivable, Modifications
Year One	240	1,177
Year Two	1,139	826
Year Three	754	522
Year Four	477	257
Year Five	248	160
Prior	369	264
Revolving Loans	1,743	1,624
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	4,970	4,830
Commercial \| Commercial mortgage owner-occupied loans \| Special mention
Financing Receivable, Modifications
Year One	12	17
Year Two	14	15
Year Three	29	13
Year Four	3	12
Year Five	2	13
Prior	12	2
Revolving Loans	22	56
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	94	128
Commercial \| Commercial mortgage owner-occupied loans \| Substandard
Financing Receivable, Modifications
Year One	25	51
Year Two	20	14
Year Three	21	20
Year Four	17	73
Year Five	71	11
Prior	37	25
Revolving Loans	140	106
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	331	300
Commercial \| Commercial mortgage owner-occupied loans \| Doubtful
Financing Receivable, Modifications
Year One	0	0
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	0	0
Commercial \| Commercial mortgage nonowner-occupied loans
Financing Receivable, Modifications
Year One	239	1,193
Year Two	1,117	565
Year Three	503	534
Year Four	518	398
Year Five	394	221
Prior	364	210
Revolving Loans	2,698	2,641
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	5,833	5,762
Commercial \| Commercial mortgage nonowner-occupied loans \| Pass
Financing Receivable, Modifications
Year One	165	1,127
Year Two	1,087	462
Year Three	447	490
Year Four	474	397
Year Five	393	220
Prior	345	170
Revolving Loans	2,508	2,453
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	5,419	5,319
Commercial \| Commercial mortgage nonowner-occupied loans \| Special mention
Financing Receivable, Modifications
Year One	47	1
Year Two	0	84
Year Three	32	26
Year Four	26	0
Year Five	0	0
Prior	2	23
Revolving Loans	139	88
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	246	222
Commercial \| Commercial mortgage nonowner-occupied loans \| Substandard
Financing Receivable, Modifications
Year One	27	65
Year Two	30	19
Year Three	24	18
Year Four	18	1
Year Five	1	1
Prior	17	17
Revolving Loans	51	100
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	168	221
Commercial \| Commercial mortgage nonowner-occupied loans \| Doubtful
Financing Receivable, Modifications
Year One	0	0
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	0	0
Commercial \| Commercial construction loans
Financing Receivable, Modifications
Year One	18	135
Year Two	122	31
Year Three	64	93
Year Four	87	8
Year Five	8	35
Prior	36	9
Revolving Loans	5,213	5,122
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	5,548	5,433
Commercial \| Commercial construction loans \| Pass
Financing Receivable, Modifications
Year One	14	82
Year Two	73	31
Year Three	31	93
Year Four	87	8
Year Five	8	35
Prior	34	7
Revolving Loans	4,980	4,684
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	5,227	4,940
Commercial \| Commercial construction loans \| Special mention
Financing Receivable, Modifications
Year One	0	0
Year Two	0	0
Year Three	33	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Revolving Loans	147	293
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	180	293
Commercial \| Commercial construction loans \| Substandard
Financing Receivable, Modifications
Year One	4	53
Year Two	49	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	2	2
Revolving Loans	86	145
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	141	200
Commercial \| Commercial construction loans \| Doubtful
Financing Receivable, Modifications
Year One	0	0
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	0	0
Commercial \| Commercial leases
Financing Receivable, Modifications
Year One	278	585
Year Two	503	688
Year Three	630	310
Year Four	286	200
Year Five	191	174
Prior	855	747
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	2,743	2,704
Commercial \| Commercial leases \| Pass
Financing Receivable, Modifications
Year One	271	584
Year Two	495	664
Year Three	606	306
Year Four	280	192
Year Five	186	146
Prior	799	696
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	2,637	2,588
Commercial \| Commercial leases \| Special mention
Financing Receivable, Modifications
Year One	0	0
Year Two	3	4
Year Three	9	2
Year Four	4	4
Year Five	2	7
Prior	16	19
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	34	36
Commercial \| Commercial leases \| Substandard
Financing Receivable, Modifications
Year One	7	1
Year Two	5	20
Year Three	15	2
Year Four	2	4
Year Five	3	21
Prior	40	32
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	72	80
Commercial \| Commercial leases \| Doubtful
Financing Receivable, Modifications
Year One	0	0
Year Two	0	0
Year Three	0	0
Year Four	0	0
Year Five	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Portfolio loans and leases, net	$ 0	$ 0

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Gross Charge-Offs Within the Commercial Portfolio Segments, by Class and Vintage (Details) - Commercial $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Financing Receivable, Modifications
Year One	$ 0
Year Two	1
Year Three	11
Year Four	0
Year Five	0
Prior	0
Revolving Loans	21
Revolving Loans Converted to Term Loans	0
Total	33
Commercial and industrial loans
Financing Receivable, Modifications
Year One	0
Year Two	1
Year Three	11
Year Four	0
Year Five	0
Prior	0
Revolving Loans	20
Revolving Loans Converted to Term Loans	0
Total	32
Commercial construction loans
Financing Receivable, Modifications
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Revolving Loans	1
Revolving Loans Converted to Term Loans	0
Total	$ 1

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Recorded Investment in Portfolio Loans and Leases by Age and Class (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	$ 122,857	$ 121,480
Commercial
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	77,239	76,389
90 Days Past Due and Still Accruing	17	13
Commercial \| Current
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	77,031	76,211
Commercial \| Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	208	178
Commercial \| 30 to 89 Days
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	134	129
Commercial \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	74	49
Commercial \| Commercial and industrial loans
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	57,720	57,232
90 Days Past Due and Still Accruing	17	11
Commercial \| Commercial and industrial loans \| Current
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	57,549	57,092
Commercial \| Commercial and industrial loans \| Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	171	140
Commercial \| Commercial and industrial loans \| 30 to 89 Days
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	109	98
Commercial \| Commercial and industrial loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	62	42
Commercial \| Commercial mortgage owner-occupied loans
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	5,395	5,258
90 Days Past Due and Still Accruing	0	0
Commercial \| Commercial mortgage owner-occupied loans \| Current
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	5,386	5,241
Commercial \| Commercial mortgage owner-occupied loans \| Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	9	17
Commercial \| Commercial mortgage owner-occupied loans \| 30 to 89 Days
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	6	14
Commercial \| Commercial mortgage owner-occupied loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	3	3
Commercial \| Commercial mortgage nonowner-occupied loans
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	5,833	5,762
90 Days Past Due and Still Accruing	0	0
Commercial \| Commercial mortgage nonowner-occupied loans \| Current
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	5,832	5,756
Commercial \| Commercial mortgage nonowner-occupied loans \| Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	1	6
Commercial \| Commercial mortgage nonowner-occupied loans \| 30 to 89 Days
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	1	6
Commercial \| Commercial mortgage nonowner-occupied loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	0	0
Commercial \| Commercial construction loans
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	5,548	5,433
90 Days Past Due and Still Accruing	0	0
Commercial \| Commercial construction loans \| Current
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	5,541	5,424
Commercial \| Commercial construction loans \| Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	7	9
Commercial \| Commercial construction loans \| 30 to 89 Days
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	2	7
Commercial \| Commercial construction loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	5	2
Commercial \| Commercial leases
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	2,743	2,704
90 Days Past Due and Still Accruing	0	2
Commercial \| Commercial leases \| Current
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	2,723	2,698
Commercial \| Commercial leases \| Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	20	6
Commercial \| Commercial leases \| 30 to 89 Days
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	16	4
Commercial \| Commercial leases \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Total portfolio loans and leases	$ 4	$ 2

Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Credit Risk Profile of the Bancorp's Residential Mortgage and Consumer Portfolio Segments by Class (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Financing Receivable, Modifications
Total	$ 122,857		$ 121,480
Residential Mortgage
Financing Receivable, Modifications
Residential mortgage loans	128	$ 145	123
Residential Mortgage \| Federal Housing Administration Loan
Financing Receivable, Modifications
Losses due to claim denials and curtailments	0	$ 1
Residential Mortgage \| 30-89 days past due
Financing Receivable, Modifications
Residential mortgage loans			1
Residential Mortgage \| 30-89 days past due \| Federal Housing Administration Loan
Financing Receivable, Modifications
Total	76		81
Residential Mortgage \| 90 days or more past due
Financing Receivable, Modifications
Residential mortgage loans			2
Residential Mortgage \| 90 days or more past due \| Federal Housing Administration Loan
Financing Receivable, Modifications
Total	154		147
Residential Mortgage \| Nonperforming
Financing Receivable, Modifications
Residential mortgage loans	3
Residential Mortgage \| Residential mortgage loans
Financing Receivable, Modifications
Year One	249		3,199
Year Two	3,225		5,447
Year Three	5,362		2,989
Year Four	2,938		1,056
Year Five	1,034		354
Prior	4,672		4,460
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	17,480		17,505
Residential Mortgage \| Residential mortgage loans \| Performing
Financing Receivable, Modifications
Year One	249		3,199
Year Two	3,224		5,444
Year Three	5,359		2,985
Year Four	2,934		1,052
Year Five	1,030		347
Prior	4,558		4,356
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	17,354		17,383
Residential Mortgage \| Residential mortgage loans \| Performing \| Current
Financing Receivable, Modifications
Year One	249		3,195
Year Two	3,222		5,440
Year Three	5,355		2,981
Year Four	2,931		1,051
Year Five	1,028		344
Prior	4,543		4,336
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	17,328		17,347
Residential Mortgage \| Residential mortgage loans \| Performing \| 30-89 days past due
Financing Receivable, Modifications
Year One	0		4
Year Two	1		4
Year Three	2		3
Year Four	3		1
Year Five	1		2
Prior	10		15
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	17		29
Residential Mortgage \| Residential mortgage loans \| Performing \| 90 days or more past due
Financing Receivable, Modifications
Year One	0		0
Year Two	1		0
Year Three	2		1
Year Four	0		0
Year Five	1		1
Prior	5		5
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	9		7
Residential Mortgage \| Residential mortgage loans \| Nonperforming
Financing Receivable, Modifications
Year One	0		0
Year Two	1		3
Year Three	3		4
Year Four	4		4
Year Five	4		7
Prior	114		104
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	126		122
Consumer \| Home equity
Financing Receivable, Modifications
Year One	14		46
Year Two	45		3
Year Three	3		7
Year Four	7		15
Year Five	14		17
Prior	116		105
Revolving Loans	3,744		3,827
Revolving Loans Converted to Term Loans	15		19
Total	3,958		4,039
Consumer \| Home equity \| Performing
Financing Receivable, Modifications
Year One	14		46
Year Two	45		3
Year Three	3		7
Year Four	7		15
Year Five	14		17
Prior	109		97
Revolving Loans	3,684		3,769
Revolving Loans Converted to Term Loans	14		18
Total	3,890		3,972
Consumer \| Home equity \| Performing \| Current
Financing Receivable, Modifications
Year One	14		46
Year Two	45		3
Year Three	3		7
Year Four	7		15
Year Five	14		17
Prior	106		94
Revolving Loans	3,663		3,741
Revolving Loans Converted to Term Loans	14		18
Total	3,866		3,941
Consumer \| Home equity \| Performing \| 30-89 days past due
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	2		2
Revolving Loans	21		28
Revolving Loans Converted to Term Loans	0		0
Total	23		30
Consumer \| Home equity \| Performing \| 90 days or more past due
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	1		1
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	1		1
Consumer \| Home equity \| Nonperforming
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	7		8
Revolving Loans	60		58
Revolving Loans Converted to Term Loans	1		1
Total	68		67
Consumer \| Indirect secured consumer loans
Financing Receivable, Modifications
Year One	1,597		6,072
Year Two	5,563		5,923
Year Three	5,393		2,635
Year Four	2,328		1,245
Year Five	1,060		431
Prior	543		246
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	16,484		16,552
Consumer \| Indirect secured consumer loans \| Performing
Financing Receivable, Modifications
Year One	1,597		6,068
Year Two	5,558		5,917
Year Three	5,388		2,628
Year Four	2,321		1,239
Year Five	1,055		427
Prior	538		244
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	16,457		16,523
Consumer \| Indirect secured consumer loans \| Performing \| Current
Financing Receivable, Modifications
Year One	1,595		6,034
Year Two	5,526		5,875
Year Three	5,355		2,600
Year Four	2,302		1,217
Year Five	1,041		416
Prior	528		239
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	16,347		16,381
Consumer \| Indirect secured consumer loans \| Performing \| 30-89 days past due
Financing Receivable, Modifications
Year One	2		34
Year Two	32		42
Year Three	33		28
Year Four	19		22
Year Five	14		11
Prior	10		5
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	110		142
Consumer \| Indirect secured consumer loans \| Performing \| 90 days or more past due
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	0		0
Consumer \| Indirect secured consumer loans \| Nonperforming
Financing Receivable, Modifications
Year One	0		4
Year Two	5		6
Year Three	5		7
Year Four	7		6
Year Five	5		4
Prior	5		2
Revolving Loans	0		0
Revolving Loans Converted to Term Loans	0		0
Total	27		29
Consumer \| Credit card
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	1,761		1,874
Revolving Loans Converted to Term Loans	0		0
Total	1,761		1,874
Consumer \| Credit card \| Performing
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	1,732		1,847
Revolving Loans Converted to Term Loans	0		0
Total	1,732		1,847
Consumer \| Credit card \| Performing \| Current
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	1,696		1,808
Revolving Loans Converted to Term Loans	0		0
Total	1,696		1,808
Consumer \| Credit card \| Performing \| 30-89 days past due
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	18		21
Revolving Loans Converted to Term Loans	0		0
Total	18		21
Consumer \| Credit card \| Performing \| 90 days or more past due
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	18		18
Revolving Loans Converted to Term Loans	0		0
Total	18		18
Consumer \| Credit card \| Nonperforming
Financing Receivable, Modifications
Year One	0		0
Year Two	0		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	29		27
Revolving Loans Converted to Term Loans	0		0
Total	29		27
Consumer \| Other consumer loans
Financing Receivable, Modifications
Year One	722		2,720
Year Two	2,951		547
Year Three	487		358
Year Four	325		171
Year Five	151		114
Prior	233		149
Revolving Loans	907		913
Revolving Loans Converted to Term Loans	31		26
Total	5,807		4,998
Consumer \| Other consumer loans \| Performing
Financing Receivable, Modifications
Year One	722		2,718
Year Two	2,948		546
Year Three	486		358
Year Four	325		171
Year Five	151		114
Prior	232		148
Revolving Loans	906		912
Revolving Loans Converted to Term Loans	31		26
Total	5,801		4,993
Consumer \| Other consumer loans \| Performing \| Current
Financing Receivable, Modifications
Year One	722		2,704
Year Two	2,928		540
Year Three	481		355
Year Four	323		169
Year Five	149		112
Prior	229		146
Revolving Loans	903		908
Revolving Loans Converted to Term Loans	31		26
Total	5,766		4,960
Consumer \| Other consumer loans \| Performing \| 30-89 days past due
Financing Receivable, Modifications
Year One	0		14
Year Two	19		6
Year Three	5		3
Year Four	2		2
Year Five	2		2
Prior	3		2
Revolving Loans	3		3
Revolving Loans Converted to Term Loans	0		0
Total	34		32
Consumer \| Other consumer loans \| Performing \| 90 days or more past due
Financing Receivable, Modifications
Year One	0		0
Year Two	1		0
Year Three	0		0
Year Four	0		0
Year Five	0		0
Prior	0		0
Revolving Loans	0		1
Revolving Loans Converted to Term Loans	0		0
Total	1		1
Consumer \| Other consumer loans \| Nonperforming
Financing Receivable, Modifications
Year One	0		2
Year Two	3		1
Year Three	1		0
Year Four	0		0
Year Five	0		0
Prior	1		1
Revolving Loans	1		1
Revolving Loans Converted to Term Loans	0		0
Total	6		5
Residential Mortgage and Consumer
Financing Receivable, Modifications
Year One	2,582		12,037
Year Two	11,784		11,920
Year Three	11,245		5,989
Year Four	5,598		2,487
Year Five	2,259		916
Prior	5,564		4,960
Revolving Loans	6,412		6,614
Revolving Loans Converted to Term Loans	46		45
Total	45,490		44,968
Residential Mortgage and Consumer \| Performing
Financing Receivable, Modifications
Year One	2,582		12,031
Year Two	11,775		11,910
Year Three	11,236		5,978
Year Four	5,587		2,477
Year Five	2,250		905
Prior	5,437		4,845
Revolving Loans	6,322		6,528
Revolving Loans Converted to Term Loans	45		44
Total	45,234		44,718
Residential Mortgage and Consumer \| Performing \| Current
Financing Receivable, Modifications
Year One	2,580		11,979
Year Two	11,721		11,858
Year Three	11,194		5,943
Year Four	5,563		2,452
Year Five	2,232		889
Prior	5,406		4,815
Revolving Loans	6,262		6,457
Revolving Loans Converted to Term Loans	45		44
Total	45,003		44,437
Residential Mortgage and Consumer \| Performing \| 30-89 days past due
Financing Receivable, Modifications
Year One	2		52
Year Two	52		52
Year Three	40		34
Year Four	24		25
Year Five	17		15
Prior	25		24
Revolving Loans	42		52
Revolving Loans Converted to Term Loans	0		0
Total	202		254
Residential Mortgage and Consumer \| Performing \| 90 days or more past due
Financing Receivable, Modifications
Year One	0		0
Year Two	2		0
Year Three	2		1
Year Four	0		0
Year Five	1		1
Prior	6		6
Revolving Loans	18		19
Revolving Loans Converted to Term Loans	0		0
Total	29		27
Residential Mortgage and Consumer \| Nonperforming
Financing Receivable, Modifications
Year One	0		6
Year Two	9		10
Year Three	9		11
Year Four	11		10
Year Five	9		11
Prior	127		115
Revolving Loans	90		86
Revolving Loans Converted to Term Loans	1		1
Total	$ 256		$ 250

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Gross Charge-Offs Within the Residential Mortgage and Consumer Portfolio Segments, by Class and Vintage (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Residential Mortgage
Financing Receivable, Modifications
Year One	$ 0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	1
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total	1
Consumer \| Home equity
Financing Receivable, Modifications
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	0
Revolving Loans	1
Revolving Loans Converted to Term Loans	0
Total	1
Consumer \| Indirect secured consumer loans
Financing Receivable, Modifications
Year One	0
Year Two	8
Year Three	6
Year Four	4
Year Five	3
Prior	2
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total	23
Consumer \| Credit card
Financing Receivable, Modifications
Year One	0
Year Two	0
Year Three	0
Year Four	0
Year Five	0
Prior	20
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total	20
Consumer \| Other consumer loans
Financing Receivable, Modifications
Year One	0
Year Two	10
Year Three	5
Year Four	3
Year Five	2
Prior	3
Revolving Loans	8
Revolving Loans Converted to Term Loans	1
Total	32
Consumer and residential mortgage loans
Financing Receivable, Modifications
Year One	0
Year Two	18
Year Three	11
Year Four	7
Year Five	5
Prior	26
Revolving Loans	9
Revolving Loans Converted to Term Loans	1
Total	$ 77

Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Amortized Cost Basis of the Bancorp's Collateral Dependent Loans (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Impaired
Total portfolio loans and leases	$ 460	$ 640
Commercial
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	319	531
Commercial \| Commercial and industrial loans
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	276	433
Commercial \| Commercial mortgage owner-occupied loans
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	12	14
Commercial \| Commercial mortgage nonowner-occupied loans
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	21	27
Commercial \| Commercial construction loans
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	5	56
Commercial \| Commercial leases
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	5	1
Residential Mortgage
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	92	57
Consumer
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	49	52
Consumer \| Home equity
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	43	46
Consumer \| Indirect secured consumer loans
Financing Receivable, Impaired
Loans and leases receivable, allowance for amortized cost basis	$ 6	$ 6

Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Bancorp's Nonaccrual Loans and Leases by Class (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

$ 483

$ 333

140

206

623

539

^[1]

749

1,007

122,857

121,480

Nonperforming

Nonperforming | Government Insured

0

17

15

275

149

59

114

334

263

Commercial | Commercial and industrial loans

77,239

76,389

239

114

41

101

280

215

21

73

Commercial | Commercial mortgage owner-occupied loans

57,720

57,232

11

9

11

7

22

16

Commercial | Commercial mortgage nonowner-occupied loans

5,395

5,258

18

20

4

22

24

Commercial | Commercial construction loans

5,833

5,762

3

6

2

5

8

Commercial | Commercial leases

5,548

5,433

4

0

1

0

5

0

3

0

2,743

2,704

92

81

37

43

129

124

116

103

14

25

130

128

Consumer | Home equity

55

45

13

22

68

67

Consumer | Home equity | Nonperforming

3,958

4,039

Consumer | Indirect secured consumer loans

68

67

26

1

3

27

29

Consumer | Indirect secured consumer loans | Nonperforming

16,484

16,552

27

29

Consumer | Credit card

29

27

0

29

27

Consumer | Credit card | Nonperforming

1,761

1,874

Consumer | Other consumer loans

29

27

6

5

0

6

5

Consumer | Other consumer loans | Nonperforming

5,807

4,998

Nonaccrual Portfolio Loans and Leases

6

5

483

333

110

182

OREO and Other Repossessed Assets

593

515

0

30

24

$ 30

$ 24

[1]	Includes $599 and $600 of residential mortgage loans held for sale measured at fair value at March 31, 2023 and December 31, 2022, respectively.

Credit Quality and the Allowance for Loan and Lease Losses - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) contract	Mar. 31, 2022 contract	Dec. 31, 2022 USD ($)
Financing Receivable, Allowance for Credit Losses
Mortgage loans in process of foreclosure amount	$ 175		$ 154
Loan modification program, loan amortized cost basis, threshold for modification	$ 202
Loan modification program, threshold for modification, percent of total loans and leases	0.0016
Unfunded commitment amounts	$ 109
Modification program option, threshold period past due	90 days
Number of Contracts \| contract	0	175
Line Of Credit Receivable
Financing Receivable, Allowance for Credit Losses
Unfunded commitment amounts			130
Letter Of Credit Receivable
Financing Receivable, Allowance for Credit Losses
Unfunded commitment amounts			$ 60
Consumer and residential mortgage loans
Financing Receivable, Allowance for Credit Losses
Loan modification program, loans excluded from modification program	$ 13
Commercial \| Minimum
Financing Receivable, Allowance for Credit Losses
Modification program option, mortgage interest payment deferral, term	3 months
Commercial \| Maximum
Financing Receivable, Allowance for Credit Losses
Modification program option, mortgage interest payment deferral, term	12 months
Residential Mortgage
Financing Receivable, Allowance for Credit Losses
Modification program option, mortgage term	480 months
Modification program option, in-process modifications	$ 18
Number of Contracts \| contract		29
Residential Mortgage \| Minimum
Financing Receivable, Allowance for Credit Losses
Modification program option, mortgage interest payment deferral, term	6 months
Modification program option, trial period	3 months
Residential Mortgage \| Maximum
Financing Receivable, Allowance for Credit Losses
Modification program option, mortgage interest payment deferral, term	12 months
Modification program option, trial period	4 months
Consumer
Financing Receivable, Allowance for Credit Losses
Modification program option, mortgage term	360 months

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Amortized Cost Basis of Loans Modified for Borrowers Experiencing Financial Difficulty (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 202
Commercial
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 163
% of Total Class	0.21%
Commercial \| Term Extension
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 159
Commercial \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	1
Commercial \| Term Extension and Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	3
Commercial \| Commercial and industrial loans
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 106
% of Total Class	0.18%
Commercial \| Commercial and industrial loans \| Term Extension
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 105
Commercial \| Commercial and industrial loans \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	1
Commercial \| Commercial and industrial loans \| Term Extension and Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage owner-occupied loans
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 1
% of Total Class	0.02%
Commercial \| Commercial mortgage owner-occupied loans \| Term Extension
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 1
Commercial \| Commercial mortgage owner-occupied loans \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage owner-occupied loans \| Term Extension and Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage nonowner-occupied loans
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 25
% of Total Class	0.43%
Commercial \| Commercial mortgage nonowner-occupied loans \| Term Extension
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 22
Commercial \| Commercial mortgage nonowner-occupied loans \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage nonowner-occupied loans \| Term Extension and Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	3
Commercial \| Commercial construction loans
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 31
% of Total Class	0.56%
Commercial \| Commercial construction loans \| Term Extension
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 31
Commercial \| Commercial construction loans \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial construction loans \| Term Extension and Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Residential Mortgage
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 24
% of Total Class	0.14%
Residential Mortgage \| Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 8
% of Total Class	0.05%
Residential Mortgage \| Term Extension and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 14
% of Total Class	0.08%
Residential Mortgage \| Term Extension, Interest Rate Reduction and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 2
% of Total Class	0.01%
Consumer
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 15
% of Total Class	0.05%
Consumer \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 10
Consumer \| Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	1
Consumer \| Term Extension and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	1
Consumer \| Term Extension, Interest Rate Reduction and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	3
Consumer \| Home equity
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 4
% of Total Class	0.10%
Consumer \| Home equity \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 0
Consumer \| Home equity \| Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Home equity \| Term Extension and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	1
Consumer \| Home equity \| Term Extension, Interest Rate Reduction and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	3
Consumer \| Credit card
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 10
% of Total Class	0.57%
Consumer \| Credit card \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 10
Consumer \| Credit card \| Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Credit card \| Term Extension and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Credit card \| Term Extension, Interest Rate Reduction and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Other consumer loans
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 1
% of Total Class	0.02%
Consumer \| Other consumer loans \| Interest Rate Reduction
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 0
Consumer \| Other consumer loans \| Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	1
Consumer \| Other consumer loans \| Term Extension and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Other consumer loans \| Term Extension, Interest Rate Reduction and Payment Deferral
Financing Receivable, Modifications
Financing receivable, excluding accrued interest, modified in period, amount	$ 0

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Financial Impacts of Loans That Were Modified for Borrowers Experiencing Financial Difficulty (Details)	3 Months Ended
	Mar. 31, 2023
Commercial \| Commercial and industrial loans
Financing Receivable, Modifications
Weighted-average length of term extensions	5 months
Commercial \| Commercial mortgage owner-occupied loans
Financing Receivable, Modifications
Weighted-average length of term extensions	4 months
Commercial \| Commercial mortgage nonowner-occupied loans
Financing Receivable, Modifications
Weighted-average length of term extensions	8 months
Weighted-average interest rate reduction before modification	0.091
Weighted-average interest rate reduction after modification	0.089
Commercial \| Commercial construction loans
Financing Receivable, Modifications
Weighted-average length of term extensions	12 months
Residential Mortgage
Financing Receivable, Modifications
Weighted-average length of term extensions	130 months
Financing receivable, modified, payment deferral, percentage of related loan balance	0.16
Consumer \| Home equity
Financing Receivable, Modifications
Weighted-average length of term extensions	24 years 9 months 18 days
Weighted-average interest rate reduction before modification	0.080
Weighted-average interest rate reduction after modification	0.065
Financing receivable, modified, payment deferral, percentage of related loan balance	0.06
Consumer \| Credit card
Financing Receivable, Modifications
Weighted-average interest rate reduction before modification	0.232
Weighted-average interest rate reduction after modification	0.039
Consumer \| Other consumer loans
Financing Receivable, Modifications
Financing receivable, modified, payment deferral, percentage of related loan balance	0.06

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Loans That Were Modified for Borrowers Experiencing Financial Difficulty (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	$ 202
Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	197
30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	4
90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	1
Commercial
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	163
Commercial \| Commercial and industrial loans
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	106
Commercial \| Commercial and industrial loans \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	106
Commercial \| Commercial and industrial loans \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial and industrial loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage owner-occupied loans
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	1
Commercial \| Commercial mortgage owner-occupied loans \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	1
Commercial \| Commercial mortgage owner-occupied loans \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage owner-occupied loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage nonowner-occupied loans
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	25
Commercial \| Commercial mortgage nonowner-occupied loans \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	25
Commercial \| Commercial mortgage nonowner-occupied loans \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial mortgage nonowner-occupied loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial construction loans
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	31
Commercial \| Commercial construction loans \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	31
Commercial \| Commercial construction loans \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Commercial \| Commercial construction loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Residential Mortgage
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	24
Residential Mortgage \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	23
Residential Mortgage \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	1
Residential Mortgage \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	15
Consumer \| Home equity
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	4
Consumer \| Home equity \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	4
Consumer \| Home equity \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Home equity \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Credit card
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	10
Consumer \| Credit card \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	6
Consumer \| Credit card \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	3
Consumer \| Credit card \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	1
Consumer \| Other consumer loans
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	1
Consumer \| Other consumer loans \| Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	1
Consumer \| Other consumer loans \| 30-89 days past due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	0
Consumer \| Other consumer loans \| 90 Days or More
Financing Receivable, Recorded Investment, Past Due
Financing receivable, excluding accrued interest, modified in period, amount	$ 0

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Loans Modified in a TDR (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) loan
Financing Receivable, Modifications
Number of Loans Modified in a TDR During the Period \| loan	2,742
Amortized Cost Basis in Loans Modified in a TDR During the Period	$ 177
Increase (Decrease) to ALLL Upon Modification	16
Charge-offs Recognized Upon Modification	$ 0
Commercial \| Commercial and industrial loans
Financing Receivable, Modifications
Number of Loans Modified in a TDR During the Period \| loan	30
Amortized Cost Basis in Loans Modified in a TDR During the Period	$ 91
Increase (Decrease) to ALLL Upon Modification	13
Charge-offs Recognized Upon Modification	$ 0
Commercial \| Commercial mortgage owner-occupied loans
Financing Receivable, Modifications
Number of Loans Modified in a TDR During the Period \| loan	5
Amortized Cost Basis in Loans Modified in a TDR During the Period	$ 4
Increase (Decrease) to ALLL Upon Modification	(1)
Charge-offs Recognized Upon Modification	$ 0
Residential Mortgage
Financing Receivable, Modifications
Number of Loans Modified in a TDR During the Period \| loan	260
Amortized Cost Basis in Loans Modified in a TDR During the Period	$ 42
Increase (Decrease) to ALLL Upon Modification	3
Charge-offs Recognized Upon Modification	$ 0
Consumer \| Home equity
Financing Receivable, Modifications
Number of Loans Modified in a TDR During the Period \| loan	52
Amortized Cost Basis in Loans Modified in a TDR During the Period	$ 7
Increase (Decrease) to ALLL Upon Modification	(1)
Charge-offs Recognized Upon Modification	$ 0
Consumer \| Indirect secured consumer loans
Financing Receivable, Modifications
Number of Loans Modified in a TDR During the Period \| loan	1,274
Amortized Cost Basis in Loans Modified in a TDR During the Period	$ 27
Increase (Decrease) to ALLL Upon Modification	0
Charge-offs Recognized Upon Modification	$ 0
Consumer \| Credit card
Financing Receivable, Modifications
Number of Loans Modified in a TDR During the Period \| loan	1,121
Amortized Cost Basis in Loans Modified in a TDR During the Period	$ 6
Increase (Decrease) to ALLL Upon Modification	2
Charge-offs Recognized Upon Modification	$ 0

Credit Quality and the Allowance for Loan and Lease Losses - Summary of Subsequent Defaults (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 contract	Mar. 31, 2022 USD ($) contract
Financing Receivable, Modifications
Number of Contracts \| contract	0	175
Amortized Cost \| $		$ 5
Commercial \| Commercial and industrial loans
Financing Receivable, Modifications
Number of Contracts \| contract		6
Amortized Cost \| $		$ 0
Residential Mortgage
Financing Receivable, Modifications
Number of Contracts \| contract		29
Amortized Cost \| $		$ 3
Consumer \| Home equity
Financing Receivable, Modifications
Number of Contracts \| contract		10
Amortized Cost \| $		$ 1
Consumer \| Indirect secured consumer loans
Financing Receivable, Modifications
Number of Contracts \| contract		25
Amortized Cost \| $		$ 0
Consumer \| Credit card
Financing Receivable, Modifications
Number of Contracts \| contract		105
Amortized Cost \| $		$ 1

Bank Premises and Equipment - Summary of Bank Premises and Equipment (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Accumulated depreciation and amortization

$ (3,398)

$ (3,360)

Total bank premises and equipment

^[1]

2,219

2,187

Equipment

2,532

2,492

Buildings

Land and and improvements

1,712

1,699

637

640

Leasehold improvements

581

568

Construction in progress

Land and improvements held for sale

133

124

16

17

Buildings

6

7

Other property

Land improvements

$ 26

$ 27

[1]	Includes $22 and $24 of bank premises and equipment held for sale at March 31, 2023 and December 31, 2022, respectively.

Bank Premises and Equipment - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) branch	Mar. 31, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Impairment losses on bank premises \| $	$ 1	$ 0
Closed in 2022
Property, Plant and Equipment [Line Items]
Number of branches held for sale \| branch	23

Operating Lease Equipment - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Leases [Abstract]
Operating lease equipment	$ 578,000,000		$ 627,000,000
Accumulated depreciation	339,000,000		$ 338,000,000
Operating lease income	$ 37,000,000	$ 36,000,000
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Leasing business revenue		Leasing business revenue
Depreciation expense	$ 31,000,000	29,000,000
Operating lease payments received	41,000,000	36,000,000
Impairment losses of operating lease equipment	$ 0	$ 2,000,000

Operating Lease Equipment - Future Lease Payments Receivable (Details) $ in Millions	Mar. 31, 2023 USD ($)
Leases [Abstract]
Remainder of 2023	$ 100
2024	105
2025	79
2026	51
2027	25
2028	10
Thereafter	15
Total operating lease payments	$ 385

Lease Obligations - Lessee - Lease Assets and Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 491	$ 508
Finance lease right-of-use assets	145	150
Total right-of-use assets	636	658
Operating lease liabilities	582	599
Finance lease liabilities	152	156
Total lease liabilities	$ 734	$ 755
Operating lease right-of-use assets [Extensible List]	Other assets	Other assets
Finance lease, right-of-use assets [Extensible List]	Bank premises and equipment	Bank premises and equipment
Operating lease liabilities [Extensible List]	Accrued Liabilities [Member]	Accrued Liabilities [Member]
Finance lease liabilities [Extensible List]	Long-term debt	Long-term debt
Operating lease right of use asset, accumulated amortization	$ 271	$ 255
Finance lease right of use asset, accumulated amortization	$ 71	$ 66

Lease Obligations - Lessee - Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Amortization of ROU assets	$ 5	$ 5
Interest on lease liabilities	1	1
Total finance lease costs	6	6
Operating lease cost	22	20
Short-term lease cost	1	0
Variable lease cost	7	7
Sublease income	(1)	(1)
Total operating lease costs	29	26
Total lease costs	35	32
Impairment losses and termination charges	$ 1	$ 1

Lease Obligations - Lessee - Undiscounted Cash Flows (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Operating Leases
Remainder of 2023	$ 67
2024	86
2025	78
2026	69
2027	62
2028	53
Thereafter	298
Total undiscounted cash flows	713
Less: Difference between undiscounted cash flows and discounted cash flows	131
Present value of lease liabilities	582	$ 599
Finance Leases
Remainder of 2023	15
2024	21
2025	14
2026	9
2027	8
2028	9
Thereafter	120
Total undiscounted cash flows	196
Less: Difference between undiscounted cash flows and discounted cash flows	44
Present value of lease liabilities	152	$ 156
Total
Remainder of 2023	82
2024	107
2025	92
2026	78
2027	70
2028	62
Thereafter	418
Total undiscounted cash flows	909
Less: Difference between undiscounted cash flows and discounted cash flows	175
Present value of lease liabilities	$ 734

Lease Obligations - Lessee - Other Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Leases [Abstract]
Operating leases, weighted average remaining lease term	10 years 8 months 12 days		10 years 9 months 18 days
Finance leases, weighted average remaining lease term	15 years 3 months 21 days		15 years 3 months 21 days
Operating leases, weighted average discount rate	3.43%		3.35%
Finance leases, weighted average discount rate	2.97%		2.94%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 23	$ 22
Operating cash flows from finance leases	1	1
Financing cash flows from finance leases	4	4
Gains on sale-leaseback transactions	$ 1	$ 0

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets
Gross Carrying Amount	$ 363	$ 385
Accumulated Amortization	(206)	(216)
Net Carrying Amount	157	169
Core deposit intangibles
Finite-Lived Intangible Assets
Gross Carrying Amount	209	229
Accumulated Amortization	(169)	(182)
Net Carrying Amount	40	47
Developed technology
Finite-Lived Intangible Assets
Gross Carrying Amount	106	106
Accumulated Amortization	(20)	(17)
Net Carrying Amount	86	89
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Amount	30	30
Accumulated Amortization	(8)	(7)
Net Carrying Amount	22	23
Other
Finite-Lived Intangible Assets
Gross Carrying Amount	18	20
Accumulated Amortization	(9)	(10)
Net Carrying Amount	$ 9	$ 10

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	$ 12	$ 11

Intangible Assets - Estimated Amortization Expense (Details) $ in Millions	Mar. 31, 2023 USD ($)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Remainder of 2023	$ 31
2024	35
2025	28
2026	22
2027	$ 14

Variable Interest Entities - Classifications of Consolidated VIE Assets, Liabilities and Noncontrolling Interest Included in the Bancorp's Consolidated Balance Sheets (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Mar. 31, 2022

Dec. 31, 2021

Assets

^[1]

$ 9,794

$ 8,351

ALLL

(2,215)

^[1]

(2,194)

^[1]

$ (1,908)

$ (1,892)

^[1]

12,880

13,459

Total Assets

208,657

207,452

Liabilities

^[1]

5,307

5,881

Variable Interest Entity, Primary Beneficiary | Automobile And Solar Loan

^[1]

12,893

13,714

Total Liabilities

190,293

190,125

Assets

Indirect secured consumer loans

5

17

0

141

Other consumer loans

44

ALLL

(1)

(2)

0

2

Total Assets

48

202

Liabilities

9

38

118

Total Liabilities

$ 47

$ 127

[1]

Includes $5 and $17 of other short-term investments, $44 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $38 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2023 and December 31, 2022, respectively. For further information, refer to Note 12.

Variable Interest Entities - Assets and Liabilities Related to Non-consolidated VIEs and Maximum Exposure to Losses (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entity
Total Assets	$ 208,657	$ 207,452
Total Liabilities	190,293	190,125
Variable Interest Entity, Not Primary Beneficiary \| CDC investments
Variable Interest Entity
Total Assets	1,886	1,856
Total Liabilities	687	653
Maximum Exposure	1,886	1,856
Variable Interest Entity, Not Primary Beneficiary \| Private equity investments
Variable Interest Entity
Total Assets	187	186
Total Liabilities	0	0
Maximum Exposure	360	349
Variable Interest Entity, Not Primary Beneficiary \| Loans provided to VIEs
Variable Interest Entity
Total Assets	4,171	4,374
Total Liabilities	0	0
Maximum Exposure	6,306	6,438
Variable Interest Entity, Not Primary Beneficiary \| Lease pool entities
Variable Interest Entity
Total Assets	55	61
Total Liabilities	0	0
Maximum Exposure	55	61
Variable Interest Entity, Not Primary Beneficiary \| Solar loan securitizations
Variable Interest Entity
Total Assets	10	10
Total Liabilities	0	0
Maximum Exposure	$ 10	$ 10

Variable Interest Entities - Additional Information (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) investment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Variable Interest Entity
Assets	$ 208,657		$ 207,452
LLCs designed for the purpose of purchasing pools of residual interests in leases
Variable Interest Entity
Number of co-investments \| investment	3
Ownership percentage (more than)	50.00%
Variable Interest Entity, Not Primary Beneficiary \| Loans provided to VIEs
Variable Interest Entity
Unfunded commitment amounts	$ 2,100		2,100
Variable Interest Entity, Not Primary Beneficiary \| CDC investments
Variable Interest Entity
Assets	1,886		1,856
Variable Interest Entity, Not Primary Beneficiary \| CDC investments \| Qualified Affordable Housing Tax Credits
Variable Interest Entity
Assets	1,600		1,600
Unfunded commitments in qualifying LIHTC investments	$ 679		643
Variable Interest Entity, Not Primary Beneficiary \| CDC investments \| Qualified Affordable Housing Tax Credits \| Minimum
Variable Interest Entity
Unfunded commitments, year expected to be funded	2023
Variable Interest Entity, Not Primary Beneficiary \| CDC investments \| Qualified Affordable Housing Tax Credits \| Maximum
Variable Interest Entity
Unfunded commitments, year expected to be funded	2040
Variable Interest Entity, Not Primary Beneficiary \| Private equity investments
Variable Interest Entity
Assets	$ 187		186
Unfunded commitment amounts	173		$ 163
Capital contribution to private equity investments	$ 12	$ 9

Variable Interest Entities - Investments in Qualified Affordable Housing Tax Credits (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Affordable Housing Investments
Variable Interest Entity [Line Items]
Impairment losses	$ 0	$ 0
Applicable income tax expense
Variable Interest Entity [Line Items]
Proportional amortization	43,000,000	35,000,000
Tax credits and other benefits	$ (51,000,000)	$ (41,000,000)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Sales of Receivables and Servicing Rights - Activity Related to Mortgage Banking Net Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Transfers and Servicing [Abstract]
Residential mortgage loan sales	$ 1,275	$ 3,400
Origination fees and gains on loan sales	18	25
Gross mortgage servicing fees	$ 83	$ 71

Sales of Receivables and Servicing Rights - Changes in the Servicing Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Servicing Asset at Fair Value, Amount [Roll Forward]
Balance, beginning of period	$ 1,746	$ 1,121
Servicing rights originated	16	47
Servicing rights purchased	16	139
Changes in fair value: Due to changes in inputs or assumptions	(19)	190
Changes in fair value: Other changes in fair value	(34)	(53)
Balance, end of period	$ 1,725	$ 1,444

Sales of Receivables and Servicing Rights - Activity Related to the MSR Portfolio (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Transfers and Servicing [Abstract]
Securities losses, net – non-qualifying hedges on mortgage servicing rights	$ 0	$ (1)
Changes in fair value and settlement of free-standing derivatives purchased to economically hedge the MSR portfolio	21	(181)
MSR fair value adjustments due to changes in inputs or assumptions	$ (19)	$ 190

Sales of Receivables and Servicing Rights - Servicing Rights and Residual Interests Economic Assumptions (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fixed-rate
Schedule of Servicing Assets at Amortized Value
Weighted- Average Life (in years)	6 years 8 months 12 days	7 years 3 months 18 days
Prepayment Speed (annual) (as a percent)	12.40%	8.10%
OAS (bps)	621	729
Adjustable-rate
Schedule of Servicing Assets at Amortized Value
Weighted- Average Life (in years)	3 years	2 years 9 months 18 days
Prepayment Speed (annual) (as a percent)	27.90%	27.70%
OAS (bps)	774	798

Sales of Receivables and Servicing Rights - Additional Information (Details) - USD ($) $ in Billions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Transfers and Servicing [Abstract]
Servicing Asset, Fair Value, Change in Fair Value, Other, Statement of Income or Comprehensive Income [Extensible Enumeration]	Fees and Commissions, Mortgage Banking and Servicing	Fees and Commissions, Mortgage Banking and Servicing
Servicing of residential mortgage loans for other investors	$ 103.4		$ 103.2
Weighted-average coupon of the MSR portfolio (as a percent)	3.62%		3.59%

Sales of Receivables and Servicing Rights - Sensitivity of the Current Fair Value of Residual Cash Flows to Immediate 10%, 20% and 50% Adverse Changes in Assumptions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Fixed-rate
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption
Fair Value	$ 1,720
Weighted- Average Life (in years)	8 years 7 months 6 days
Prepayment Speed Assumption, Rate (as a percent)	5.60%
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 10%	$ (42)
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 20%	(80)
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 50%	$ (178)
OAS Speed Assumption, OAS (bps)	629
OAS Spread Assumption, Impact of Adverse Change on Fair Value 10%	$ (45)
OAS Spread Assumption, Impact of Adverse Change on Fair Value 20%	(87)
Adjustable-rate
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption
Fair Value	$ 5
Weighted- Average Life (in years)	5 years 1 month 6 days
Prepayment Speed Assumption, Rate (as a percent)	20.30%
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 10%	$ (1)
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 20%	(1)
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 50%	$ (2)
OAS Speed Assumption, OAS (bps)	1,204
OAS Spread Assumption, Impact of Adverse Change on Fair Value 10%	$ 0
OAS Spread Assumption, Impact of Adverse Change on Fair Value 20%	$ 0

Derivative Financial Instruments - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Derivative
Amount of variation margin payment applied to derivative asset contracts	$ 854,000,000		$ 1,000,000,000
Valuation adjustments related to the credit risk associated with counterparties of customer accommodation derivative contracts	10,000,000		9,000,000
Collateral for derivative liabilities	1,985,000,000		2,140,000,000
Amount of variation margin payment applied to derivative liability contracts	684,000,000		1,000,000,000
Gain or losses reclassified from AOCI into earnings associated with the discontinuance of cash flow hedges	0	$ 0
Notional amount of the risk participations agreements	3,871,000,000		3,710,000,000
Interest rate contracts \| Credit Risk
Derivative
Fair value of risk participation agreements	$ 8,000,000		7,000,000
Weighted-average remaining life	3 years 6 months
Cash Flow Hedging \| Interest rate contracts
Derivative
Maximum length of time of hedging exposure	106 months
Deferred gain (loss), net of tax, on cash flow hedges recorded in accumulated other comprehensive income	$ 233,000,000		498,000,000
Net deferred gain (loss), net of tax, recorded in AOCI are expected to be reclassified into earnings	265,000,000
Total collateral
Derivative
Collateral held for derivative assets	1,500,000,000		1,300,000,000
Collateral for derivative liabilities	$ 853,000,000		$ 913,000,000

Derivative Financial Instruments - Notional Amounts and Fair Values for All Derivative Instruments Included in the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value
Derivative Assets	$ 2,757	$ 3,173
Derivative Liabilities	3,300	3,952
Amount of variation margin payment applied to derivative asset contracts	854	1,000
Amount of variation margin payment applied to derivative liability contracts	684	1,000
Designated as Hedging Instrument \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges
Derivatives, Fair Value
Derivative Assets	178	157
Derivative Liabilities	239	296
Designated as Hedging Instrument \| Fair Value Hedging \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges
Derivatives, Fair Value
Derivative Assets	164	126
Derivative Liabilities	144	195
Designated as Hedging Instrument \| Fair Value Hedging \| Interest rate swap \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges \| Long-term debt
Derivatives, Fair Value
Notional Amount	5,955	5,955
Derivative Assets	164	126
Derivative Liabilities	144	195
Designated as Hedging Instrument \| Cash Flow Hedging \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges
Derivatives, Fair Value
Derivative Assets	14	31
Derivative Liabilities	95	101
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest rate swap \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges \| Commercial and industrial
Derivatives, Fair Value
Notional Amount	8,000	8,000
Derivative Assets	0	0
Derivative Liabilities	80	76
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest rate swap \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges \| Commercial mortgage and commercial construction
Derivatives, Fair Value
Notional Amount	4,000	4,000
Derivative Assets	0	0
Derivative Liabilities	14	25
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest rate floor \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges \| Commercial and industrial
Derivatives, Fair Value
Notional Amount	3,000	3,000
Derivative Assets	4	4
Derivative Liabilities	0	0
Designated as Hedging Instrument \| Cash Flow Hedging \| Forward starting interest rate swap \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges \| Commercial and industrial
Derivatives, Fair Value
Notional Amount	10,000	11,000
Derivative Assets	6	22
Derivative Liabilities	1	0
Designated as Hedging Instrument \| Cash Flow Hedging \| Forward starting interest rate swap \| Accumulated Net Gain (Loss) from Designated or Qualifying Hedges \| Commercial mortgage and commercial construction
Derivatives, Fair Value
Notional Amount	4,000	4,000
Derivative Assets	4	5
Derivative Liabilities	0	0
Not Designated as Hedging Instrument
Derivatives, Fair Value
Derivative Assets	2,579	3,016
Derivative Liabilities	3,061	3,656
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes
Derivatives, Fair Value
Derivative Assets	76	85
Derivative Liabilities	214	220
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes \| Interest rate contracts related to MSR portfolio
Derivatives, Fair Value
Notional Amount	2,700	2,975
Derivative Assets	61	62
Derivative Liabilities	3	17
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes \| Forward contracts related to residential mortgage loans held for sale \| Loans held for sale
Derivatives, Fair Value
Notional Amount	960	1,869
Derivative Assets	1	9
Derivative Liabilities	8	7
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes \| Swap
Derivatives, Fair Value
Notional Amount	3,644	3,358
Derivative Assets	0	0
Derivative Liabilities	192	195
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes \| Foreign exchange contracts
Derivatives, Fair Value
Notional Amount	194	156
Derivative Assets	0	1
Derivative Liabilities	1	0
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes \| Interest-only strips
Derivatives, Fair Value
Notional Amount	58	58
Derivative Assets	4	4
Derivative Liabilities	0	0
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes \| Interest rate contracts for collateral management
Derivatives, Fair Value
Notional Amount	12,000	12,000
Derivative Assets	10	9
Derivative Liabilities	10	1
Not Designated as Hedging Instrument \| Risk Management and Other Business Purposes \| Interest rate contracts for LIBOR transition
Derivatives, Fair Value
Notional Amount	597	597
Derivative Assets	0	0
Derivative Liabilities	0	0
Not Designated as Hedging Instrument \| Customer Accommodation
Derivatives, Fair Value
Derivative Assets	2,503	2,931
Derivative Liabilities	2,847	3,436
Not Designated as Hedging Instrument \| Customer Accommodation \| Foreign exchange contracts
Derivatives, Fair Value
Notional Amount	24,329	25,322
Derivative Assets	450	453
Derivative Liabilities	406	422
Not Designated as Hedging Instrument \| Customer Accommodation \| Interest rate contracts
Derivatives, Fair Value
Notional Amount	91,778	83,605
Derivative Assets	893	998
Derivative Liabilities	1,385	1,663
Amount of variation margin payment applied to derivative asset contracts	505	694
Amount of variation margin payment applied to derivative liability contracts	27	37
Not Designated as Hedging Instrument \| Customer Accommodation \| Interest rate lock commitments
Derivatives, Fair Value
Notional Amount	367	216
Derivative Assets	7	2
Derivative Liabilities	0	1
Not Designated as Hedging Instrument \| Customer Accommodation \| Commodity contracts
Derivatives, Fair Value
Notional Amount	16,942	16,122
Derivative Assets	1,153	1,478
Derivative Liabilities	1,056	1,350
Not Designated as Hedging Instrument \| Customer Accommodation \| TBA securities
Derivatives, Fair Value
Notional Amount	34	62
Derivative Assets	0	0
Derivative Liabilities	$ 0	$ 0

Derivative Financial Instruments - Change in the Fair Value for Interest Rate Contracts and the Related Hedged Items (Details) - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Derivatives, Fair Value
Carrying amount of the hedged items	$ 5,954		$ 5,865
Long-term debt
Derivatives, Fair Value
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items	25		(64)
Available-for-sale debt and other securities
Derivatives, Fair Value
Cumulative amount of fair value hedging adjustments remaining for hedged items for which hedge accounting has been discontinued	(13)		$ (14)
Interest rate contracts \| Interest on long-term debt
Derivatives, Fair Value
Change in fair value of interest rate swaps hedging financial instrument	92	$ (152)
Change in fair value of hedged financial instrument attributable to the risk being hedged	(89)	152
Interest rate contracts \| Interest on securities
Derivatives, Fair Value
Change in fair value of interest rate swaps hedging financial instrument	0	8
Change in fair value of hedged financial instrument attributable to the risk being hedged	$ 0	$ (8)

Derivative Financial Instruments - Net Gains (Losses) Relating to Derivative Instruments Designated as Cash Flow Hedges (Details) - Cash Flow Hedging - Interest Income (Expense) Net - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pre-tax net gains (losses) recognized in OCI	$ 278	$ (407)
Amount of pre-tax net (losses) gains reclassified from OCI into net income	$ (65)	$ 78

Derivative Financial Instruments - Net Gains (Losses) Recorded in the Condensed Consolidated Statements of Income Relating to Free-Standing Derivative Instruments Used for Risk Management and Other Business Purposes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	$ 21	$ (181)
Forward contracts related to residential mortgage loans held for sale \| Mortgage banking net revenue \| Residential mortgages held for sale
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	(9)	33
Interest rate contracts \| Mortgage banking net revenue \| MSR portfolio
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	21	(181)
Foreign exchange contracts \| Other noninterest income
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	0	(2)
Equity contracts \| Other noninterest income \| Swap
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	$ (31)	$ (11)

Derivative Financial Instruments - Risk Ratings of the Notional Amount of Risk Participation Agreements (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value
Notional amount of the risk participations agreements	$ 3,871	$ 3,710
Pass
Derivatives, Fair Value
Notional amount of the risk participations agreements	3,738	3,597
Special mention
Derivatives, Fair Value
Notional amount of the risk participations agreements	61	81
Substandard
Derivatives, Fair Value
Notional amount of the risk participations agreements	$ 72	$ 32

Nominal or face amount used to calculate payments on the derivative liability.

Derivative Financial Instruments - Net Gains (Losses) Recorded in the Consolidated Statements of Income Relating to Free-Standing Derivative Instruments Used For Customer Accommodation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	$ 21	$ (181)
Interest rate contracts \| Contract revenue \| Commercial banking revenue
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	10	16
Interest rate contracts \| Credit portion of fair value adjustment \| Other noninterest expense
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	(3)	6
Interest rate contracts \| Interest rate lock commitments \| Mortgage banking net revenue
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	13	0
Commodity contracts \| Contract revenue \| Commercial banking revenue
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	10	9
Commodity contracts \| Credit portion of fair value adjustment \| Other noninterest expense
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	(1)	(1)
Foreign exchange contracts \| Other noninterest income
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	0	(2)
Foreign exchange contracts \| Contract revenue \| Commercial banking revenue
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	19	16
Foreign exchange contracts \| Contract revenue \| Other noninterest income
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	(3)	2
Foreign exchange contracts \| Credit portion of fair value adjustment \| Other noninterest expense
Derivative Instruments, Gain (Loss)
Net gains (losses) recorded in earnings	$ 1	$ (1)

Derivative Financial Instruments - Offsetting Derivative Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Derivative assets
Gross Amount Recognized in the Condensed Consolidated Balance Sheets	$ 2,750	$ 3,171
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Derivatives	(1,096)	(1,405)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral	(894)	(887)
Net Amount	760	879
Derivative liabilities
Gross Amount Recognized in the Condensed Consolidated Balance Sheets	3,300	3,951
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Derivatives	(1,096)	(1,405)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral	(219)	(406)
Net Amount	$ 1,985	$ 2,140

Other Short-Term Borrowings (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Short-Term Debt [Abstract]
FHLB advances	$ 6,800	$ 4,300
Securities sold under repurchase agreements	330	388
Derivative collateral	208	124
Other borrowed money	26	26
Other short-term borrowings	$ 7,364	$ 4,838

Amount, after the effects of master netting arrangements, of funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-12A(Column A)(Footnote 2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A)(Footnote 2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483466/210-20-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(m)(1)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(m)(1)(ii)(A)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483444/210-20-55-10

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.13(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

Capital Actions (Details) $ in Millions	3 Months Ended
Capital Actions (Details) $ in Millions	Mar. 31, 2023 USD ($) shares
Accelerated Share Repurchases [Line Items]
Value of shares repurchased \| $	$ 201
January 24, 2023 ASR
Accelerated Share Repurchases [Line Items]
Value of shares repurchased \| $	$ 200
Shares Repurchased on Repurchase Date (in shares)	4,911,875
Shares Received from Forward Contract Settlement (in shares)	678,121
Total Shares Repurchased (in shares)	5,589,996

Commitments, Contingent Liabilities and Guarantees - Summary of Significant Commitments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Commitments to extend credit
Long-term Purchase Commitment
Commitments	$ 84,732	$ 83,437
Letters of credit
Long-term Purchase Commitment
Commitments	2,046	2,009
Forward contracts related to residential mortgage loans held for sale
Long-term Purchase Commitment
Commitments	960	1,869
Capital commitments for private equity investments
Long-term Purchase Commitment
Commitments	173	163
Purchase obligations
Long-term Purchase Commitment
Commitments	102	113
Capital expenditures
Long-term Purchase Commitment
Commitments	$ 97	$ 94

Commitments, Contingent Liabilities and Guarantees - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2019	Jun. 30, 2018	Sep. 30, 2014	Sep. 30, 2012	Mar. 31, 2012	Jun. 30, 2011	Dec. 31, 2010	Jun. 30, 2010	Dec. 31, 2008
Loss Contingencies
Margin account balance held by the brokerage clearing agent	$ 14		$ 14
Visa
Loss Contingencies
Fair value of liability	192		195
Visa IPO, shares of Visa's Class B common stock received (in shares)														10.1
Visa Class B shares carryover basis														$ 0
Escrow deposit			350	$ 600	$ 250	$ 300	$ 600	$ 450	$ 150	$ 1,565	$ 400	$ 800	$ 500	$ 3,000
Residential mortgage loans
Loss Contingencies
Fair value of liability	12
Make-whole payments	0	$ 0
Repurchased outstanding principal	18	14
Repurchase demand request	36	$ 23
Outstanding repurchase demand inventory	23		25
Secured Debt
Loss Contingencies
Fully and unconditionally guaranteed certain long-term borrowing obligations issued by wholly-owned issuing trust entities	62		62
Standby Letters of Credit
Loss Contingencies
Reserve for unfunded commitments	$ 22		$ 22
Standby letters of credit as a percentage of total letters of credit	99.00%		99.00%
Standby Letters of Credit \| Secured Debt
Loss Contingencies
Standby letters of credit as a percentage of total letters of credit	67.00%		67.00%
Variable Rate Demand Note
Loss Contingencies
Total variable rate demand notes	$ 421		$ 423
Letters of credit issued related to variable rate demand notes	100		102
Variable Rate Demand Note \| Trading Securities
Loss Contingencies
Total variable rate demand notes	5		3
Other Liabilities
Loss Contingencies
Reserve for unfunded commitments	232		216
Other Liabilities \| Residential mortgage loans
Loss Contingencies
Outstanding balances on residential mortgage loans sold with representation and warranty provisions	$ 9		$ 9

Commitments, Contingent Liabilities and Guarantees - Risk Rating Under the Risk Rating System (Details) - Commitments to extend credit - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Line of Credit Facility
Commitments	$ 84,732	$ 83,437
Pass
Line of Credit Facility
Commitments	82,677	81,345
Special mention
Line of Credit Facility
Commitments	756	976
Substandard
Line of Credit Facility
Commitments	$ 1,299	$ 1,116

Commitments, Contingent Liabilities and Guarantees - Standby and Commercial Letters of Credit, Conditional Commitments Issued to Guarantee the Performance of a Customer to a Third Party (Details) - Letters of credit $ in Millions	Mar. 31, 2023 USD ($)
Line of Credit Facility
Commitments	$ 2,046
Less than 1 year
Line of Credit Facility
Commitments	988
Less than 1 year \| Commercial
Line of Credit Facility
Commitments	2
1 - 5 years
Line of Credit Facility
Commitments	1,047
1 - 5 years \| Commercial
Line of Credit Facility
Commitments	3
Over 5 years
Line of Credit Facility
Commitments	$ 11

Commitments, Contingent Liabilities and Guarantees - Letters of Credit (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Off-balance Sheet Risks, Disclosure Information
Letters of credit	$ 2,046	$ 2,009
Pass
Fair Value, Off-balance Sheet Risks, Disclosure Information
Letters of credit	1,849	1,827
Special mention
Fair Value, Off-balance Sheet Risks, Disclosure Information
Letters of credit	58	47
Substandard
Fair Value, Off-balance Sheet Risks, Disclosure Information
Letters of credit	138	135
Doubtful
Fair Value, Off-balance Sheet Risks, Disclosure Information
Letters of credit	$ 1	$ 0

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

Commitments, Contingent Liabilities and Guarantees - Visa Funding and Bancorp Cash Payments (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2019	Jun. 30, 2018	Sep. 30, 2014	Sep. 30, 2012	Mar. 31, 2012	Jun. 30, 2011	Dec. 31, 2010	Jun. 30, 2010	Dec. 31, 2008
Visa Funding
Loss Contingencies
Escrow Deposit	$ 350	$ 600	$ 250	$ 300	$ 600	$ 450	$ 150	$ 1,565	$ 400	$ 800	$ 500	$ 3,000
Bancorp Cash Payment
Loss Contingencies
Cash Payment Amount	$ 15	$ 25	$ 11	$ 12	$ 26	$ 18	$ 6	$ 75	$ 19	$ 35	$ 20

Legal and Regulatory Proceedings (Details) $ in Millions				1 Months Ended	12 Months Ended
Legal and Regulatory Proceedings (Details) $ in Millions	Mar. 29, 2023 USD ($)	May 28, 2019 USD ($)	Sep. 17, 2018 USD ($)	Oct. 31, 2012 merchant	Dec. 31, 2013 lawsuit	Mar. 31, 2023 USD ($)	Dec. 31, 2020 lawsuit	Aug. 03, 2012
Loss Contingencies
Apr percentage allegedly misleading								120.00%
Number of putative class actions filed \| lawsuit					4
Damages sought		$ 440
Damages awarded	$ 2
Amount in excess of amounts reserved						$ 151
Shareholder Derivative Lawsuit
Loss Contingencies
Number of pending claims \| lawsuit							5
Federal Lawsuits
Loss Contingencies
Number of merchants requesting exclusion \| merchant				500
Class Action Settlement
Loss Contingencies
Total payment by all defendants			$ 6,240
Amount awarded to other party, escrow			5,340
Amount awarded to other party, additional			900
Escrow funds returned to defendants			$ 700

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Applicable income tax expense	$ 160	$ 118
Effective income tax rate	22.30%	19.20%

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Accumulated Other Comprehensive Income - Activity in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), pre-tax activity	$ 1,131	$ (2,992)
Other comprehensive income (loss), tax effect	(266)	689
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	17,327
Other comprehensive income (loss), net of tax	865	(2,303)
Ending balance	18,364
AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(5,110)	1,207
Other comprehensive income (loss), net of tax	865	(2,303)
Ending balance	(4,245)	(1,096)
Available-for-sale debt securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, pre-tax activity	788	(2,505)
Other comprehensive income (loss), before reclassifications, tax effect	(188)	576
Other comprehensive income (loss), before reclassifications, net activity	600	(1,929)
Reclassification adjustment, pre-tax activity	0	(3)
Reclassification adjustment, tax effect	0	1
Reclassification adjustment, net activity	0	(2)
Other comprehensive income (loss), pre-tax activity	788	(2,508)
Other comprehensive income (loss), tax effect	(188)	577
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4,589)	891
Other comprehensive income (loss), net of tax	600	(1,931)
Ending balance	(3,989)	(1,040)
Cash flow hedge derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, pre-tax activity	278	(407)
Other comprehensive income (loss), before reclassifications, tax effect	(63)	94
Other comprehensive income (loss), before reclassifications, net activity	215	(313)
Reclassification adjustment, pre-tax activity	65	(78)
Reclassification adjustment, tax effect	(15)	18
Reclassification adjustment, net activity	50	(60)
Other comprehensive income (loss), pre-tax activity	343	(485)
Other comprehensive income (loss), tax effect	(78)	112
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(498)	353
Other comprehensive income (loss), net of tax	265	(373)
Ending balance	(233)	(20)
Defined benefit pension plants, net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification adjustment, pre-tax activity	0	1
Reclassification adjustment, tax effect	0	0
Reclassification adjustment, net activity	0	1
Other comprehensive income (loss), pre-tax activity	0	1
Other comprehensive income (loss), tax effect	0	0
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(19)	(33)
Other comprehensive income (loss), net of tax	0	1
Ending balance	(19)	(32)
Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), pre-tax activity	0	0
Other comprehensive income (loss), tax effect	0	0
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4)	(4)
Other comprehensive income (loss), net of tax	0	0
Ending balance	$ (4)	$ (4)

Accumulated Other Comprehensive Income - Reclassification Out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Securities gains (losses), net	$ 4	$ (14)
Interest and fees on loans and leases	1,714	983
Compensation and benefits	(757)	(711)
Income (loss) before income taxes	718	612
Applicable income tax expense	160	118
Net income	558	494
Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net income	(50)	61
Reclassification out of AOCI \| Available-for-sale debt securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Securities gains (losses), net	0	3
Income (loss) before income taxes	0	3
Applicable income tax expense	0	(1)
Net income	0	2
Reclassification out of AOCI \| Net unrealized gains on cash flow hedge
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest and fees on loans and leases	(65)	78
Income (loss) before income taxes	(65)	78
Applicable income tax expense	15	(18)
Net income	(50)	60
Reclassification out of AOCI \| Net periodic benefit costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income (loss) before income taxes	0	(1)
Applicable income tax expense	0	0
Net income	0	(1)
Reclassification out of AOCI \| Amortization of net actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Compensation and benefits	$ 0	$ (1)

Earnings Per Share - Calculation of Earnings Per Share and the Reconciliation of Earnings Per Share to Earnings Per Diluted Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share:
Net income available to common shareholders	$ 535	$ 474
Less: Income allocated to participating securities	0	1
Net income allocated to common shareholders	$ 535	$ 473
Average shares (in shares)	684,017,462	687,537,989
Earnings per share (in dollars per share)	$ 0.78	$ 0.69
Earnings Per Diluted Share:
Net income available to common shareholders	$ 535	$ 474
Stock-based awards	0	0
Less: Income allocated to participating securities	0	1
Net income allocated to common shareholders	$ 535	$ 473
Average shares, stock based awards (in shares)	6,000,000	8,000,000
Average shares (in shares)	689,566,425	696,242,395
Earnings per diluted share (in dollars per share)	$ 0.78	$ 0.68

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Anti-dilutive securities (in shares)	4	1

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Assets:
Equity securities	$ 323	$ 317
Derivative assets	2,750	3,171
Liabilities:
Derivative liabilities	3,300	3,951
Residential Mortgage
Assets:
Residential mortgage loans	128	123	$ 145
Other securities
Liabilities:
FHLB, restricted stock holdings	396	381
FRB, restricted stock holdings	491	491
DTCC, restricted stock holdings	3	2
Level 3 \| Interest rate contracts
Assets:
Derivative assets	11		8
Liabilities:
Derivative liabilities	8		$ 10
Recurring
Assets:
Available-for-sale debt and other securities	49,829	50,629
Trading debt securities	1,174	414
Equity securities	323	317
Residential mortgage loans held for sale	599	600
Derivative assets	2,757	3,173
Total assets	56,535	57,002
Liabilities:
Derivative liabilities	3,300	3,952
Short positions	222	178
Total liabilities	3,522	4,130
Recurring \| Interest rate contracts
Assets:
Derivative assets	1,154	1,241
Liabilities:
Derivative liabilities	1,645	1,985
Recurring \| Foreign exchange contracts
Assets:
Derivative assets	450	454
Liabilities:
Derivative liabilities	407	422
Recurring \| Equity contracts
Liabilities:
Derivative liabilities	192	195
Recurring \| Commodity contracts
Assets:
Derivative assets	1,153	1,478
Liabilities:
Derivative liabilities	1,056	1,350
Recurring \| Servicing rights
Assets:
Servicing rights	1,725	1,746
Recurring \| Residential Mortgage
Assets:
Residential mortgage loans	128	123
Recurring \| U.S. Treasury and federal agencies securities
Assets:
Available-for-sale debt and other securities	2,689	2,495
Trading debt securities	687	45
Liabilities:
Short positions	74	66
Recurring \| Obligations of states and political subdivisions securities
Assets:
Available-for-sale debt and other securities	3	18
Trading debt securities	49	14
Recurring \| Agency mortgage-backed securities \| Residential Mortgage
Assets:
Available-for-sale debt and other securities	11,073	11,237
Trading debt securities	11	8
Recurring \| Agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	26,183	26,322
Recurring \| Non-agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	4,550	4,715
Recurring \| Asset-backed securities and other debt securities
Assets:
Available-for-sale debt and other securities	5,331	5,842
Trading debt securities	427	347
Liabilities:
Short positions	148	112
Recurring \| Level 1
Assets:
Available-for-sale debt and other securities	2,689	2,495
Trading debt securities	669	23
Equity securities	311	306
Residential mortgage loans held for sale	0	0
Derivative assets	128	68
Total assets	3,797	2,892
Liabilities:
Derivative liabilities	42	99
Short positions	74	66
Total liabilities	116	165
Recurring \| Level 1 \| Interest rate contracts
Assets:
Derivative assets	3	12
Liabilities:
Derivative liabilities	8	7
Recurring \| Level 1 \| Foreign exchange contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Recurring \| Level 1 \| Equity contracts
Liabilities:
Derivative liabilities	0	0
Recurring \| Level 1 \| Commodity contracts
Assets:
Derivative assets	125	56
Liabilities:
Derivative liabilities	34	92
Recurring \| Level 1 \| Servicing rights
Assets:
Servicing rights	0	0
Recurring \| Level 1 \| Residential Mortgage
Assets:
Residential mortgage loans	0	0
Recurring \| Level 1 \| U.S. Treasury and federal agencies securities
Assets:
Available-for-sale debt and other securities	2,689	2,495
Trading debt securities	669	23
Liabilities:
Short positions	74	66
Recurring \| Level 1 \| Obligations of states and political subdivisions securities
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Recurring \| Level 1 \| Agency mortgage-backed securities \| Residential Mortgage
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Recurring \| Level 1 \| Agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	0	0
Recurring \| Level 1 \| Non-agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	0	0
Recurring \| Level 1 \| Asset-backed securities and other debt securities
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Liabilities:
Short positions	0	0
Recurring \| Level 2
Assets:
Available-for-sale debt and other securities	47,140	48,134
Trading debt securities	505	391
Equity securities	12	11
Residential mortgage loans held for sale	599	600
Derivative assets	2,618	3,098
Total assets	50,874	52,234
Liabilities:
Derivative liabilities	3,058	3,650
Short positions	148	112
Total liabilities	3,206	3,762
Recurring \| Level 2 \| Interest rate contracts
Assets:
Derivative assets	1,140	1,222
Liabilities:
Derivative liabilities	1,629	1,970
Recurring \| Level 2 \| Foreign exchange contracts
Assets:
Derivative assets	450	454
Liabilities:
Derivative liabilities	407	422
Recurring \| Level 2 \| Equity contracts
Liabilities:
Derivative liabilities	0	0
Recurring \| Level 2 \| Commodity contracts
Assets:
Derivative assets	1,028	1,422
Liabilities:
Derivative liabilities	1,022	1,258
Recurring \| Level 2 \| Servicing rights
Assets:
Servicing rights	0	0
Recurring \| Level 2 \| Residential Mortgage
Assets:
Residential mortgage loans	0	0
Recurring \| Level 2 \| U.S. Treasury and federal agencies securities
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	18	22
Liabilities:
Short positions	0	0
Recurring \| Level 2 \| Obligations of states and political subdivisions securities
Assets:
Available-for-sale debt and other securities	3	18
Trading debt securities	49	14
Recurring \| Level 2 \| Agency mortgage-backed securities \| Residential Mortgage
Assets:
Available-for-sale debt and other securities	11,073	11,237
Trading debt securities	11	8
Recurring \| Level 2 \| Agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	26,183	26,322
Recurring \| Level 2 \| Non-agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	4,550	4,715
Recurring \| Level 2 \| Asset-backed securities and other debt securities
Assets:
Available-for-sale debt and other securities	5,331	5,842
Trading debt securities	427	347
Liabilities:
Short positions	148	112
Recurring \| Level 3
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Equity securities	0	0
Residential mortgage loans held for sale	0	0
Derivative assets	11	7
Total assets	1,864	1,876
Liabilities:
Derivative liabilities	200	203
Short positions	0	0
Total liabilities	200	203
Recurring \| Level 3 \| Interest rate contracts
Assets:
Derivative assets	11	7
Liabilities:
Derivative liabilities	8	8
Recurring \| Level 3 \| Foreign exchange contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Recurring \| Level 3 \| Equity contracts
Liabilities:
Derivative liabilities	192	195
Recurring \| Level 3 \| Commodity contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Recurring \| Level 3 \| Servicing rights
Assets:
Servicing rights	1,725	1,746
Recurring \| Level 3 \| Residential Mortgage
Assets:
Residential mortgage loans	128	123
Recurring \| Level 3 \| U.S. Treasury and federal agencies securities
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Liabilities:
Short positions	0	0
Recurring \| Level 3 \| Obligations of states and political subdivisions securities
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Recurring \| Level 3 \| Agency mortgage-backed securities \| Residential Mortgage
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Recurring \| Level 3 \| Agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	0	0
Recurring \| Level 3 \| Non-agency mortgage-backed securities \| Commercial
Assets:
Available-for-sale debt and other securities	0	0
Recurring \| Level 3 \| Asset-backed securities and other debt securities
Assets:
Available-for-sale debt and other securities	0	0
Trading debt securities	0	0
Liabilities:
Short positions	$ 0	$ 0

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Net fair value of the interest rate lock commitments	$ 7,000,000
Change in the fair value of the interest rate lock commitments, due to decrease in current interest rates of 25 bps	2,000,000
Change in the fair value of the interest rate lock commitments, due to decrease in current interest rates of 50 bps	4,000,000
Change in the fair value of the interest rate lock commitments, due to increase in current interest rates of 25 bps	3,000,000
Change in the fair value of the interest rate lock commitments, due to increase in current interest rates of 50 bps	6,000,000
Change in fair value of interest rate lock commitments, due to 10% favorable changes in the assumed loan closing rates	1,000,000
Change in fair value of interest rate lock commitments, due to 20% favorable changes in the assumed loan closing rates	1,000,000
Gain resulting from observable price changes	0	$ 4,000,000
Private equity, cumulative observable price change	40,000,000
Private equity, impairment	1,000,000	10,000,000
Private equity, cumulative impairment	35,000,000
Fair value of embedded derivatives	0		$ 0
Gain on embedded derivatives	0	11,000,000
Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value adjustment	0	1,000,000
Transfer \| Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value gains (losses)	0	0
Residential Mortgage
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair value changes included in earnings for instruments for which the fair value option was elected	8,000,000	$ 10,000,000
FVO valuation adjustments related to instrument-specific credit risk	$ 1,000,000		$ 1,000,000

Fair Value Measurements - Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Balance, beginning of period	$ 1,673	$ 1,065
Included in earnings	(67)	122
Purchases/originations	30	184
Settlements	24	12
Transfers into Level 3	4	6
Balance, end of period	1,664	1,389
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held	(56)	197
Derivative assets	2,750		$ 3,171
Derivative liabilities	3,300		$ 3,951
Unrealized gains or losses included in other comprehensive income for instruments still held	0	0
Interest rate contracts \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Derivative assets	11	8
Derivative liabilities	8	10
Servicing Rights
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Balance, beginning of period	1,746	1,121
Included in earnings	(53)	137
Purchases/originations	32	186
Settlements	0	0
Transfers into Level 3	0	0
Balance, end of period	1,725	1,444
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held	(35)	207
Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Balance, beginning of period	(1)	4
Included in earnings	14	2
Purchases/originations	(2)	(2)
Settlements	(8)	(6)
Transfers into Level 3	0	0
Balance, end of period	3	(2)
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held	7	7
Equity Derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Balance, beginning of period	(195)	(214)
Included in earnings	(31)	(11)
Purchases/originations	0	0
Settlements	34	27
Transfers into Level 3	0	0
Balance, end of period	(192)	(198)
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held	(31)	(11)
Residential Mortgage Loans
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Balance, beginning of period	123	154
Included in earnings	3	(6)
Purchases/originations	0	0
Settlements	(2)	(9)
Transfers into Level 3	4	6
Balance, end of period	128	145
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held	$ 3	$ (6)

Fair Value Measurements - Total Gains and Losses Included in Earnings for Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gains and losses included in earnings	$ (67)	$ 122
Mortgage banking net revenue
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gains and losses included in earnings	(37)	132
Commercial banking revenue
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gains and losses included in earnings	1	1
Other noninterest income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gains and losses included in earnings	$ (31)	$ (11)

Fair Value Measurements - Total Gains and Losses Included in Earning Attributable to Changes in Unrealized Gains and Losses Related to Level 3 Assets and Liabilities Still Held at Year End (Details) - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gain and losses included in earnings	$ (56)	$ 197
Mortgage banking net revenue
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gain and losses included in earnings	(26)	207
Commercial banking revenue
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gain and losses included in earnings	1	1
Other noninterest income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Gain and losses included in earnings	$ (31)	$ (11)

Fair Value Measurements - Fair Values of Assets and Liabilities (Significant Unobservable Level 3 Inputs Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative assets	$ 2,750		$ 3,171
Derivative liabilities	(3,300)		(3,951)
Servicing rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing rights	$ 1,725	$ 1,444
Servicing rights \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Prepayment speed	0.00%	0.00%
OAS (bps)	477	615
Servicing rights \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Prepayment speed	100.00%	100.00%
OAS (bps)	1,447	1,513
Servicing rights \| Fixed \| Weighted-Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Prepayment speed	5.60%	6.70%
OAS (bps)	629	749
Servicing rights \| Adjustable \| Weighted-Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Prepayment speed	20.30%	19.70%
OAS (bps)	1,204	1,092
IRLCs, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative assets	$ 7	$ 6
IRLCs, net \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loan closing rates	22.30%	42.00%
IRLCs, net \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loan closing rates	97.50%	98.30%
IRLCs, net \| Weighted-Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loan closing rates	82.50%	85.90%
Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative liabilities	$ (192)	$ (198)
Swap \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Timing of the resolution of the Covered Litigation	Mar. 31, 2024	Mar. 31, 2023
Swap \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Timing of the resolution of the Covered Litigation	Mar. 31, 2027	Jun. 30, 2025
Swap \| Weighted-Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Timing of the resolution of the Covered Litigation	Jun. 30, 2025	Jun. 30, 2024
Residential Mortgage
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loans measured at FV	$ 128	$ 145	$ 123
Residential Mortgage \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate risk factor	(22.20%)	(13.20%)
Credit risk factor	0.00%	0.00%
Residential Mortgage \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate risk factor	5.70%	5.90%
Credit risk factor	23.20%	20.70%
Residential Mortgage \| Weighted-Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest rate risk factor	(10.30%)	(3.70%)
Credit risk factor	0.50%	0.20%

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	$ 328	$ 314
Total Losses	(80)	(39)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	9
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	328	305
Commercial loans held for sale \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	21
Total Losses	0
Commercial loans held for sale \| Commercial \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0
Commercial loans held for sale \| Commercial \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0
Commercial loans held for sale \| Commercial \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	21
Commercial loans and leases \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	160	178
Total Losses	(76)	(32)
Commercial loans and leases \| Commercial \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Commercial loans and leases \| Commercial \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Commercial loans and leases \| Commercial \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	160	178
Consumer and residential mortgage loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	138	117
Total Losses	(2)	0
Consumer and residential mortgage loans \| Consumer \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Consumer and residential mortgage loans \| Consumer \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Consumer and residential mortgage loans \| Consumer \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	138	117
OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	1
Total Losses	0	1
OREO \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
OREO \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
OREO \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	1
Bank premises and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	5	1
Total Losses	(1)	0
Bank premises and equipment \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Bank premises and equipment \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Bank premises and equipment \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	5	1
Operating lease equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value		6
Total Losses		(2)
Operating lease equipment \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value		0
Operating lease equipment \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value		0
Operating lease equipment \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value		6
Private equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	11
Total Losses	(1)	(6)
Private equity investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	0
Private equity investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	0	9
Private equity investments \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	$ 2	$ 2

Fair Value Measurements - Fair Values of Assets and Liabilities (Significant Unobservable Level 3 Inputs Nonrecurring Basis) (Details) - Nonrecurring - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	$ 328	$ 314
Commercial loans held for sale \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	21
Commercial loans and leases \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	160	178
Consumer and residential mortgage loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	138	117
OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	1
Bank premises and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	5	1
Operating lease equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value		6
Private equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	11
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	328	305
Level 3 \| Commercial loans held for sale \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	21
Level 3 \| Commercial loans and leases \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	160	178
Level 3 \| Consumer and residential mortgage loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	138	117
Level 3 \| OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	1
Level 3 \| Bank premises and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	5	1
Level 3 \| Operating lease equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value		6
Level 3 \| Private equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	2
Level 3 \| Appraised Value \| Commercial loans and leases \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	160	178
Level 3 \| Appraised Value \| Consumer and residential mortgage loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	138	117
Level 3 \| Appraised Value \| OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	2	1
Level 3 \| Appraised Value \| Bank premises and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	5	1
Level 3 \| Appraised Value \| Operating lease equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value		6
Level 3 \| Comparable Company Analysis \| Commercial loans held for sale \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	21
Level 3 \| Comparable Company Analysis \| Private equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, fair value	$ 2	$ 2

Fair Value Measurements - Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Residential Mortgage Loans Measured at Fair Value (Details) - Residential mortgage loans - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Aggregate Fair Value
Loans measured at fair value	$ 727	$ 723
Past due loans of 30-89 days or more		1
Non accrual loans	3	2
Aggregate Unpaid Principal Balance
Loans measured at fair value	735	733
Past due loans of 30-89 days or more		1
Non accrual loans	3	2
Difference
Loans measured at fair value	(8)	(10)
Past due loans of 30-89 days or more		0
Non accrual loans	$ 0	$ 0

Fair Value Measurements - Carrying Amounts and Estimated Fair Values for Certain Financial Instruments (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

^[1]

$ 9,794

$ 8,351

^[2]

2

5

^[3]

749

1,007

120,642

119,286

162,975

163,690

177

180

7,364

4,838

^[1]

12,893

13,714

77,239

76,389

45,618

45,091

Net Carrying Amount

2,780

3,466

9,794

8,351

890

874

2

5

150

407

120,514

119,163

162,975

163,690

177

180

7,364

4,838

Net Carrying Amount | Commercial

12,868

13,778

Net Carrying Amount | Consumer

76,096

75,262

44,418

43,901

Total Fair Value

2,780

3,466

9,794

8,351

890

874

2

5

154

414

119,441

117,297

162,924

163,634

177

180

7,362

4,829

Total Fair Value | Commercial

12,294

13,629

Total Fair Value | Consumer

76,271

75,104

Total Fair Value | Level 1

43,170

42,193

2,780

3,466

9,794

8,351

0

0

0

0

0

177

180

0

Total Fair Value | Level 1 | Commercial

11,900

13,218

Total Fair Value | Level 1 | Consumer

0

Total Fair Value | Level 2

0

0

0

890

874

0

0

0

162,924

163,634

0

7,362

4,829

Total Fair Value | Level 2 | Commercial

394

411

Total Fair Value | Level 2 | Consumer

0

Total Fair Value | Level 3

0

0

0

0

2

5

154

414

119,441

117,297

0

0

0

Total Fair Value | Level 3 | Commercial

0

Total Fair Value | Level 3 | Consumer

76,271

75,104