Quarterly report pursuant to Section 13 or 15(d)

Securitization of Financial Assets (Tables)

v3.24.2.u1
Securitization of Financial Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Transfers and Servicing [Abstract]  
Schedule of Certain Transactions with Securitization Trusts
The following summarizes certain transactions with securitization trusts: 
  As of and for the six months ended June 30,
  2024 2023
  (in millions)
Gains on securitizations $ 55  $ 30 
Cost of financial assets securitized 758  401 
Proceeds from securitizations 813  431 
Residual and servicing assets 238  204 
Cash received from residual and servicing assets 6  10 
Schedule Of Allowance For Loss On Securitization Residual Assets The following table reconciles our beginning and ending allowance for loss on securitization residual assets:
Three months ended June 30, 2024 Three months ended June 30, 2023
Government Commercial Government Commercial
(in millions)
Beginning balance $ —  $ 3  $ —  $ — 
Provision for loss on securitization assets —  —  —  — 
Ending balance $ —  $ 3  $ —  $ — 
Six months ended June 30, 2024 Six months ended June 30, 2023
Government Commercial Government Commercial
(in millions)
Beginning balance $ —  $ 3  $ —  $ — 
Provision for loss on securitization assets —  —  —  — 
Ending balance $ —  $ 3  $ —  $ —