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Notes to Consolidated Financial Statements, continued
104
2013 1
(Dollars in millions)
Number of
Loans
Modified Principal
Forgiveness 2Rate
Modification 2,3
Term Extension
and/or Other
Concessions Total
Commercial loans:
C&I 152 $18 $2 $105 $125
CRE 6 — 3 1 4
Commercial construction 1 — — — —
Residential loans:
Residential mortgages - nonguaranteed 1,584 1 166 94 261
Home equity products 2,630 — 71 75 146
Residential construction 259 — 24 3 27
Consumer loans:
Other direct 140 — 1 3 4
Indirect 3,409 — — 65 65
Credit cards 593 — 3 — 3
Total TDRs 8,774 $19 $270 $346 $635
1 Includes loans modified under the terms of a TDR that were charged-off during the period.
2 Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term
extensions. The total amount of charge-offs associated with principal forgiveness during the year ended December 31, 2013 was $2 million.
3 Restructured loans which had a modification of the loan's contractual interest rate may also have had an extension of the loan's contractual maturity date and/or other concessions. The
financial effect of modifying the interest rate on the loans modified as a TDR was immaterial to the financial statements during the year ended December 31, 2013.
2012 1
(Dollars in millions)
Number of
Loans
Modified Principal
Forgiveness 2Rate
Modification 2,3
Term Extension
and/or Other
Concessions 4Total
Commercial loans:
C&I 358 $5 $4 $23 $32
CRE 33 20 7 6 33
Commercial construction 16 4 — 14 18
Residential loans:
Residential mortgages - nonguaranteed 2,804 — 72 125 197
Home equity products 3,790 — 110 91 201
Residential construction 564 — 1 73 74
Consumer loans:
Other direct 127 — — 4 4
Indirect 2,803 — — 49 49
Credit cards 1,421 — 8 — 8
Total TDRs 11,916 $29 $202 $385 $616
1 Includes loans modified under the terms of a TDR that were charged-off during the period.
2 Restructured loans which had forgiveness of amounts contractually due under the terms of the loan typically have had multiple concessions including rate modifications and/or term
extensions. The total amount of charge-offs associated with principal forgiveness during the year ended December 31, 2013 was $9 million.
3 Restructured loans which had a modification of the loan's contractual interest rate may also have had an extension of the loan's contractual maturity date and/or other concessions. The
financial effect of modifying the interest rate on the loans modified as a TDR was immaterial to the financial statements during the year ended December 31, 2013.
4 4,231 of the residential loans, with an amortized cost of $201 million at December 31, 2012, relate to loans discharged in Chapter 7 bankruptcy that were reclassified as TDRs during
2012.