Bank of America 2015 Annual Report Download - page 90
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88 Bank of America 2015
Table 54 presents a rollforward of the allowance for credit losses, which includes the allowance for loan and lease losses and the
reserve for unfunded lending commitments, for 2015 and 2014.
Table 54 Allowance for Credit Losses
(Dollars in millions) 2015 2014
Allowance for loan and lease losses, January 1 $ 14,419 $ 17,428
Loans and leases charged off
Residential mortgage (866)(855)
Home equity (975)(1,364)
U.S. credit card (2,738)(3,068)
Non-U.S. credit card (275)(357)
Direct/Indirect consumer (383)(456)
Other consumer (224)(268)
Total consumer charge-offs (5,461)(6,368)
U.S. commercial (1) (536)(584)
Commercial real estate (30) (29)
Commercial lease financing (19) (10)
Non-U.S. commercial (59) (35)
Total commercial charge-offs (644)(658)
Total loans and leases charged off (6,105)(7,026)
Recoveries of loans and leases previously charged off
Residential mortgage 393 969
Home equity 339 457
U.S. credit card 424 430
Non-U.S. credit card 87 115
Direct/Indirect consumer 271 287
Other consumer 31 39
Total consumer recoveries 1,545 2,297
U.S. commercial (2) 172 214
Commercial real estate 35 112
Commercial lease financing 10 19
Non-U.S. commercial 51
Total commercial recoveries 222 346
Total recoveries of loans and leases previously charged off 1,767 2,643
Net charge-offs (4,338)(4,383)
Write-offs of PCI loans (808)(810)
Provision for loan and lease losses 3,043 2,231
Other (3) (82) (47)
Allowance for loan and lease losses, December 31 12,234 14,419
Reserve for unfunded lending commitments, January 1 528 484
Provision for unfunded lending commitments 118 44
Reserve for unfunded lending commitments, December 31 646 528
Allowance for credit losses, December 31 $ 12,880 $ 14,947
(1) Includes U.S. small business commercial charge-offs of $282 million and $345 million in 2015 and 2014.
(2) Includes U.S. small business commercial recoveries of $57 million and $63 million in 2015 and 2014.
(3) Primarily represents the net impact of portfolio sales, consolidations and deconsolidations, and foreign currency translation adjustments.