Quarterly report pursuant to Section 13 or 15(d)

Securitization of Financial Assets (Tables)

v3.24.3
Securitization of Financial Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Transfers and Servicing [Abstract]  
Schedule of Certain Transactions with Securitization Trusts
The following summarizes certain transactions with securitization trusts: 
  For the Three Months Ended September 30, For the Nine Months Ended September 30,
  2024 2023 2024 2023
  (in millions)
Gains on securitizations $ 8  $ 22  $ 63  $ 53 
Cost of financial assets securitized 106  23  864  424 
Proceeds from securitizations 114  45  927  477 
Cash received from residual and servicing assets 7  4  13  15 
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 September 30, 2024 Three months ended September 30, 2023
Government Commercial Government Commercial
(in millions)
Beginning balance $ —  $ 3  $ —  $ — 
Provision for loss on securitization assets —  —  —  3 
Ending balance $ —  $ 3  $ —  $ 3 
Nine months ended September 30, 2024 Nine months ended September 30, 2023
Government Commercial Government Commercial
(in millions)
Beginning balance $ —  $ 3  $ —  $ — 
Provision for loss on securitization assets —  —  —  3 
Ending balance $ —  $ 3  $ —  $ 3