PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
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Loan Modifications Granted to Borrowers Experiencing Financial Difficulty
The following table presents the amortized cost basis, as of December 31, 2023, of FDMs granted during the twelve months ended December 31, 2023:
Table 45: Loan Modifications Granted to Borrowers Experiencing Financial Difficulty (a) (b)
| Year ended December 31, 2023Dollars in millions · Interest Rate Reduction · Term Extension · Payment Delay · Repayment Plan · Interest Rate Reduction and Payment Delay · Interest Rate Reduction and Term Extension · Payment Delay and Term Extension · Other (c) · Total · % of Loan Class | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial | ||||||||||||
| Commercial and industrial | $13 | $683 | $65 | $14 | $18 | $156 | $150 | $1,099 | 0.62% | |||
| Commercial real estate | 47 | 816 | 17 | 87 | 967 | 2.73% | ||||||
| Total commercial | 60 | 1,499 | 65 | 14 | 18 | 173 | 237 | 2,066 | 0.94% | |||
| Consumer | ||||||||||||
| Residential real estate | 2 | 1 | 95 | 5 | 6 | 109 | 0.23% | |||||
| Home equity | 1 | 10 | 8 | 12 | 31 | 0.12% | ||||||
| Credit card | $58 | 58 | 0.81% | |||||||||
| Education | 5 | 5 | 0.26% | |||||||||
| Other consumer | 1 | 1 | 0.02% | |||||||||
| Total consumer | 2 | 7 | 105 | 59 | 13 | 18 | 204 | 0.20% | ||||
| Total | $62 | $1,506 | $170 | $59 | $14 | $31 | $173 | $255 | $2,270 | 0.71% | ||
(a)At December 31, 2023, there were $0.4 billion of unfunded lending related commitments associated with FDMs.
(b)Excludes the amortized cost basis of modified loans that were paid off, charged off or otherwise liquidated as of period end.
(c)Includes loans where we have received notification that a borrower has filed for Chapter 7 bankruptcy relief, but specific instructions as to the terms of the relief have not been formally ruled upon by the court. Amounts also include trial modifications.
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