Exhibit 99.1

pncbanklogoa18a.jpg



THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT
SECOND QUARTER 2022
(Unaudited)



THE PNC FINANCIAL SERVICES GROUP, INC.
FINANCIAL SUPPLEMENT
SECOND QUARTER 2022
(UNAUDITED)
Consolidated Results:
Page
6-7
9-11
Business Segment Results:
14-15
18-20

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on July 15, 2022. We have reclassified certain prior period amounts to be consistent with the current period presentation, which we believe is more meaningful to readers of our consolidated financial statements. This information speaks only as of the particular date or dates included in the schedules. We do not undertake any obligation to, and disclaim any duty to, correct or update any of the information provided in this Financial Supplement. Our future financial performance is subject to risks and uncertainties as described in our United States Securities and Exchange Commission (SEC) filings.

BUSINESS
PNC is one of the largest diversified financial services companies in the United States (U.S.) and is headquartered in Pittsburgh, Pennsylvania. PNC has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of its products and services nationally. PNC's retail branch network is located coast-to-coast. PNC also has strategic international offices in four countries outside the U.S.

PRESENTATION OF NONINTEREST INCOME
Effective for the first quarter of 2022, PNC updated the presentation of its noninterest income categorization to be based on product and service type, and accordingly, has changed the basis of presentation of its noninterest income revenue streams to: (i) Asset management and brokerage, (ii) Capital markets related, (iii) Card and cash management, (iv) Lending and deposit services, (v) Residential and commercial mortgage and (vi) Other noninterest income. For a description of each updated noninterest income revenue stream, see our first quarter 2022 Form 10-Q.

ACQUISITION OF BBVA USA BANCSHARES, INC.
On June 1, 2021, PNC acquired BBVA USA Bancshares Inc. (BBVA), a U.S. financial holding company conducting its business operations primarily through its U.S. banking subsidiary, BBVA USA. PNC paid $11.5 billion in cash as consideration for the acquisition.

On October 8, 2021, BBVA USA merged into PNC Bank. As of October 12, 2021, PNC converted approximately 2.6 million
customers, 9,000 employees and over 600 branches across seven states. Our 2021 results of operations reflect the benefit of BBVA's acquired business operations for the period since the acquisition closed on June 1, 2021. PNC's balance sheets include BBVA's balances for all periods presented.





THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Second Quarter 2022 Financial Supplement (Unaudited)
Financial Supplement Table Reference
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THE PNC FINANCIAL SERVICES GROUP, INC.

Page 1

Table 1: Consolidated Income Statement (Unaudited)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
In millions, except per share data2022202220212021202120222021
Interest Income
Loans$2,504 $2,293 $2,414 $2,437 $2,160 $4,797 $4,156 
Investment securities631 544 484 460 469 1,175 890 
Other146 77 77 78 72 223 138 
Total interest income3,281 2,914 2,975 2,975 2,701 6,195 5,184 
Interest Expense
Deposits88 27 27 29 30 115 70 
Borrowed funds142 83 86 90 90 225 185 
Total interest expense230 110 113 119 120 340 255 
Net interest income3,051 2,804 2,862 2,856 2,581 5,855 4,929 
Noninterest Income
Asset management and brokerage365 377 385 375 350 742 678 
Capital markets related409 252 460 482 324 661 635 
Card and cash management671 620 646 663 597 1,291 1,089 
Lending and deposit services282 269 273 305 270 551 524 
Residential and commercial mortgage161 159 209 248 206 320 393 
Other (a)177 211 292 268 339 388 639 
Total noninterest income2,065 1,888 2,265 2,341 2,086 3,953 3,958 
Total revenue5,116 4,692 5,127 5,197 4,667 9,808 8,887 
Provision For (Recapture of) Credit Losses36 (208)(327)(203)302 (172)(249)
Noninterest Expense
Personnel1,779 1,717 2,038 1,986 1,640 3,496 3,117 
Occupancy246 258 260 248 217 504 432 
Equipment351 331 437 355 326 682 619 
Marketing95 61 97 103 74 156 119 
Other773 805 959 895 793 1,578 1,337 
Total noninterest expense3,244 3,172 3,791 3,587 3,050 6,416 5,624 
Income before income taxes and noncontrolling interests1,836 1,728 1,663 1,813 1,315 3,564 3,512 
Income taxes340 299 357 323 212 639 583 
Net income1,496 1,429 1,306 1,490 1,103 2,925 2,929 
Less: Net income attributable to noncontrolling interests15 21 13 16 12 36 22 
Preferred stock dividends (b)71 45 71 57 48 116 105 
Preferred stock discount accretion and
    redemptions		1 2 2 1 1 3 2 
Net income attributable to common shareholders$1,409 $1,361 $1,220 $1,416 $1,042 $2,770 $2,800 
Earnings Per Common Share
Basic$3.39 $3.23 $2.87 $3.31 $2.43 $6.62 $6.54 
Diluted$3.39 $3.23 $2.86 $3.30 $2.43 $6.61 $6.53 
Average Common Shares Outstanding
Basic414 420 424 426 427 417 426 
Diluted414 420 424 426 427 417 427 
Efficiency63 %68 %74 %69 %65 %65 %63 %
Noninterest income to total revenue40 %40 %44 %45 %45 %40 %45 %
Effective tax rate from continuing operations (c)18.5 %17.3 %21.5 %17.8 %16.1 %17.9 %16.6 %
(a)Includes net gains (losses) on sales of securities of less than $(1) million, $(4) million, $14 million, $15 million, and $10 million for the quarters ended June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively, and $(4) million and $35 million for the six months ended June 30, 2022 and June 30, 2021, respectively.
(b)Dividends are payable quarterly other than Series R and Series S preferred stock, which are payable semiannually.
(c)The effective income tax rates are generally lower than the statutory rate due to the relationship of pretax income to tax credits and earnings that are not subject to tax.












THE PNC FINANCIAL SERVICES GROUP, INC.

Page 2
Table 2: Consolidated Balance Sheet (Unaudited)
June 30March 31December 31September 30June 30
In millions, except par value20222022202120212021
Assets
Cash and due from banks$8,582 $7,572 $8,004 $8,843 $8,724 
Interest-earning deposits with banks (a)28,404 48,776 74,250 75,478 72,447 
Loans held for sale (b)1,191 1,506 2,231 2,121 2,227 
Investment securities – available for sale 52,984 112,313 131,536 124,127 125,058 
Investment securities – held to maturity79,748 20,098 1,426 1,479 1,485 
Loans (b)310,800 294,457 288,372 290,230 294,704 
Allowance for loan and lease losses (4,462)(4,558)(4,868)(5,355)(5,730)
Net loans306,338 289,899 283,504 284,875 288,974 
Equity investments8,441 7,798 8,180 7,737 7,521 
Mortgage servicing rights2,608 2,208 1,818 1,833 1,793 
Goodwill10,916 10,916 10,916 10,885 10,958 
Other (b) 41,574 40,160 35,326 36,137 35,025 
Total assets$540,786 $541,246 $557,191 $553,515 $554,212 
Liabilities
Deposits
Noninterest-bearing$146,438 $150,798 $155,175 $156,305 $154,190 
Interest-bearing294,373 299,399 302,103 292,597 298,693 
Total deposits440,811 450,197 457,278 448,902 452,883 
Borrowed funds
Federal Home Loan Bank borrowings10,000 
Bank notes and senior debt14,358 16,206 20,661 22,993 24,408 
Subordinated debt7,487 6,766 6,996 7,074 7,120 
Other (b)4,139 3,599 3,127 3,404 3,285 
Total borrowed funds35,984 26,571 30,784 33,471 34,813 
Allowance for unfunded lending related commitments 681 639 662 646 645 
Accrued expenses and other liabilities15,622 14,623 12,741 14,199 11,186 
Total liabilities493,098 492,030 501,465 497,218 499,527 
Equity
Preferred stock (c)
Common stock - $5 par value
Authorized 800 shares, issued 543 shares2,714 2,713 2,713 2,713 2,713 
Capital surplus18,531 17,487 17,457 17,453 15,928 
Retained earnings51,841 51,058 50,228 49,541 48,663 
Accumulated other comprehensive income (loss)(8,358)(5,731)409 1,079 1,463 
Common stock held in treasury at cost: 132, 128, 123, 120, and 118 shares(17,076)(16,346)(15,112)(14,527)(14,140)
Total shareholders’ equity47,652 49,181 55,695 56,259 54,627 
Noncontrolling interests36 35 31 38 58 
Total equity47,688 49,216 55,726 56,297 54,685 
Total liabilities and equity$540,786 $541,246 $557,191 $553,515 $554,212 
(a)Amounts include balances held with the Federal Reserve Bank of $28.0 billion, $48.4 billion, $73.8 billion, $75.1 billion and $71.9 billion as of June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, respectively.
(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our first quarter 2022 Form 10-Q included, and our second quarter 2022 Form 10-Q will include, additional information regarding these items.
(c)Par value less than $0.5 million at each date.



THE PNC FINANCIAL SERVICES GROUP, INC.

Page 3
Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
In millions2022202220212021202120222021
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency$37,285 $67,498 $64,521 $63,163 $56,042 $52,308 $50,700 
Non-agency902 1,0079741,0511,1429541,189 
Commercial mortgage-backed4,362 5,2295,5386,1346,4654,7936,354 
Asset-backed2,3886,2256,2065,6085,8554,2965,581 
U.S. Treasury and government agencies17,48047,46844,41538,14932,41932,39127,392 
Other4,2004,8764,7414,9945,1074,5364,835 
Total securities available for sale66,617132,303126,395119,099107,03099,27896,051
Securities held to maturity
Residential mortgage-backed33,086 106 16,687 
Commercial mortgage-backed1,175 591 
Asset-backed4,119 2,071
U.S. Treasury and government agencies28,16791981280780214,618800 
Other1,5605696426806711,068660 
Total securities held to maturity68,1071,5941,4541,4871,47335,0351,460
Total investment securities134,724133,897127,849120,586108,503134,31397,511
Loans
Commercial and industrial166,968155,481152,355152,964137,892161,256133,966 
Commercial real estate34,46734,00435,25637,05431,61134,23730,113 
Equipment lease financing6,2006,0996,1836,3006,3326,1506,332 
Consumer54,55154,96556,24457,53352,57554,75751,744 
Residential real estate42,60440,15238,87237,47527,19741,38524,764 
Total loans304,790290,701288,910291,326255,607297,785246,919
Interest-earning deposits with banks (c)39,53962,54075,37780,27478,52250,97681,947 
Other interest-earning assets10,0859,4179,1139,1138,0799,8217,955 
Total interest-earning assets489,138496,555501,249501,299450,711492,895434,332
Noninterest-earning assets54,85653,54158,12357,94353,71854,13352,093 
Total assets$543,994 $550,096 $559,372 $559,242 $504,429 $547,028 $486,425 
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market$58,019 $62,596 $65,214 $82,911 $64,990 $60,295 $62,053 
Demand119,636112,372108,345106,58899,091116,02495,376 
Savings109,063108,532104,64489,67987,307108,79985,129 
Time deposits10,37816,04318,02919,29318,04813,19518,246 
Total interest-bearing deposits297,096299,543296,232298,471269,436298,313260,804
Borrowed funds
Federal Home Loan Bank borrowings6,9782653,5081,332 
Bank notes and senior debt16,17218,01521,58122,57322,62017,08922,709 
Subordinated debt6,9986,7736,7796,7876,2186,8866,074 
Other5,5085,5245,9874,9925,0465,5154,555 
Total borrowed funds35,65630,31234,34734,35234,14932,99834,670
Total interest-bearing liabilities332,752329,855330,579332,823303,585331,311295,474
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits149,432153,726156,549155,948132,283151,567122,843 
Accrued expenses and other liabilities14,23214,05816,81815,33214,75514,14614,508 
Equity47,57852,45755,42655,13953,80650,00453,600 
Total liabilities and equity$543,994 $550,096 $559,372 $559,242 $504,429 $547,028 $486,425 
(a)Calculated using average daily balances.
(b)Nonaccrual loans are included in loans, net of unearned income. The impact of financial derivatives used in interest rate risk management is included in the interest income/expense and average yields/rates of the related assets and liabilities. Basis adjustments related to hedged items are included in noninterest-earning assets and noninterest-bearing liabilities. Average balances of securities are based on amortized historical cost (excluding adjustments to fair value, which are included in other assets). Average balances for certain loans and borrowed funds accounted for at fair value are included in noninterest-earning assets and noninterest-bearing liabilities, with changes in fair value recorded in Noninterest income.
(c)Amounts include average balances held with the Federal Reserve Bank of $39.3 billion, $62.3 billion, $75.1 billion, $80.1 billion and $78.3 billion for the three months ended June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021, and $50.7 billion and $81.7 billion for the six months ended June 30, 2022 and June 30, 2021, respectively.

THE PNC FINANCIAL SERVICES GROUP, INC.

Page 4
Table 4: Details of Net Interest Margin (Unaudited)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
2022202220212021202120222021
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency2.17 %1.73 %1.47 %1.41 %1.61 %1.89 %1.66 %
Non-agency7.56 %7.53 %7.36 %8.07 %7.85 %7.55 %7.54 %
Commercial mortgage-backed2.45 %2.36 %2.37 %2.34 %2.49 %2.40 %2.54 %
Asset-backed1.84 %1.35 %1.48 %1.50 %2.07 %1.49 %1.96 %
U.S. Treasury and government agencies1.60 %1.18 %1.17 %1.18 %1.30 %1.29 %1.45 %
Other2.59 %2.73 %2.77 %2.90 %3.00 %2.67 %3.13 %
Total securities available for sale2.13 %1.62 %1.50 %1.51 %1.73 %1.79 %1.82 %
Securities held to maturity
Residential mortgage-backed1.98 %1.96 %
Commercial mortgage-backed2.30 %2.29 %
Asset-backed1.92 %1.91 %
U.S. Treasury and government agencies1.05 %2.61 %2.89 %2.88 %2.86 %1.09 %2.85 %
Other4.21 %4.17 %4.20 %4.33 %3.67 %4.19 %3.91 %
Total securities held to maturity1.65 %2.99 %3.47 %3.54 %3.23 %1.67 %3.33 %
Total investment securities1.89 %1.64 %1.52 %1.54 %1.75 %1.76 %1.85 %
Loans
Commercial and industrial2.90 %2.75 %2.90 %2.80 %2.89 %2.83 %2.90 %
Commercial real estate3.15 %2.79 %2.86 %3.17 %2.92 %3.01 %2.86 %
Equipment lease financing3.62 %3.74 %3.81 %3.83 %3.76 %3.68 %3.83 %
Consumer4.68 %4.69 %4.71 %4.85 %4.82 %4.68 %4.80 %
Residential real estate3.11 %3.10 %3.26 %3.15 %3.50 %3.07 %3.51 %
Total loans3.29 %3.19 %3.32 %3.32 %3.38 %3.24 %3.38 %
Interest-earning deposits with banks0.79 %0.19 %0.15 %0.16 %0.11 %0.42 %0.10 %
Other interest-earning assets2.70 %2.07 %2.14 %2.03 %2.46 %2.36 %2.40 %
Total yield on interest-earning assets2.69 %2.37 %2.36 %2.36 %2.40 %2.53 %2.40 %
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market0.19 %0.03 %0.02 %0.03 %0.03 %0.10 %0.03 %
Demand0.15 %0.02 %0.02 %0.03 %0.03 %0.09 %0.03 %
Savings0.04 %0.04 %0.04 %0.04 %0.05 %0.04 %0.05 %
Time deposits0.18 %0.13 %0.11 %0.12 %0.20 %0.15 %0.26 %
Total interest-bearing deposits0.12 %0.04 %0.04 %0.04 %0.05 %0.08 %0.05 %
Borrowed funds
Federal Home Loan Bank borrowings1.24 %0.35 %1.24 %0.42 %
Bank notes and senior debt1.61 %1.02 %0.94 %0.97 %0.98 %1.30 %1.01 %
Subordinated debt1.94 %1.40 %1.28 %1.28 %1.35 %1.68 %1.39 %
Other
1.46 %0.97 %0.79 %0.93 %0.97 %1.22 %1.07 %
Total borrowed funds1.58 %1.10 %0.98 %1.03 %1.04 %1.36 %1.06 %
Total rate on interest-bearing liabilities0.27 %0.13 %0.13 %0.14 %0.16 %0.20 %0.17 %
Interest rate spread2.42 %2.24 %2.23 %2.22 %2.24 %2.33 %2.23 %
Benefit from use of noninterest-bearing sources (b)0.08 %0.04 %0.04 %0.05 %0.05 %0.06 %0.05 %
Net interest margin2.50 %2.28 %2.27 %2.27 %2.29 %2.39 %2.28 %
(a)Yields and rates are calculated using the applicable annualized interest income or interest expense divided by the applicable average earning assets or interest-bearing liabilities. Net interest margin is the total yield on interest-earning assets minus the total rate on interest-bearing liabilities and includes the benefit from use of noninterest-bearing sources. To provide more meaningful comparisons of net interest margins, we use net interest income on a taxable-equivalent basis in calculating average yields used in the calculation of net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. This adjustment is not permitted under GAAP in the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the three months ended June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021 and June 30, 2021 were $25 million, $22 million, $22 million, $22 million and $15 million, respectively. The taxable-equivalent adjustments to net interest income for the six months ended June 30, 2022 and June 30, 2021 were $47 million and $30 million, respectively.
(b)Represents the positive effects of investing noninterest-bearing sources in interest-earning assets.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 5
Table 5: Details of Loans (Unaudited)
June 30March 31December 31September 30June 30
In millions20222022202120212021
Commercial
Commercial and industrial
Manufacturing$27,179 $25,035 $22,597 $22,760 $22,709 
Retail/wholesale trade26,47525,02722,80322,23822,596
Service providers21,18420,58420,75020,96922,303
Financial services19,59417,67417,95018,02215,947
Technology, media & telecommunications16,24910,68410,0708,9209,195
Real estate related (a)16,17915,45915,12314,80914,945
Health care10,1539,8109,94410,56711,713
Transportation and warehousing7,6047,2097,1367,3187,967
Other industries27,21426,39226,56027,13227,925
Total commercial and industrial171,831 157,874 152,933 152,735 155,300 
Commercial real estate34,452 34,171 34,015 36,195 37,964 
Equipment lease financing6,240 6,216 6,130 6,257 6,376 
Total commercial212,523198,261193,078195,187199,640
Consumer
Residential real estate43,717 41,566 39,712 38,214 36,846 
Home equity24,693 24,185 24,061 24,479 25,174 
Automobile15,323 16,001 16,635 17,265 17,551 
Credit card6,650 6,464 6,626 6,466 6,528 
Education2,332 2,441 2,533 2,653 2,726 
Other consumer5,562 5,539 5,727 5,966 6,239 
Total consumer98,277 96,196 95,294 95,043 95,064 
Total loans$310,800 $294,457 $288,372 $290,230 $294,704 
(a)Represents loans to customers in the real estate and construction industries.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 6
Allowance for Credit Losses (Unaudited)

Table 6: Change in Allowance for Loan and Lease Losses
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
Dollars in millions2022202220212021202120222021
Allowance for loan and lease losses
Beginning balance$4,558 $4,868 $5,355 $5,730 $4,714 $4,868 $5,361 
Acquisition PCD reserves(59)1,115 1,115 
Gross charge-offs:
Commercial and industrial(30)(41)(35)(46)(245)(71)(304)
Commercial real estate(5)(10)(2)(1)(28)(15)(33)
Equipment lease financing(2)(1)(4)(3)(1)(3)(6)
Residential real estate(7)(4)(4)(3)(7)(7)
Home equity(2)(4)(4)(2)(7)(6)(14)
Automobile(34)(52)(49)(33)(35)(86)(87)
Credit card(67)(68)(60)(62)(65)(135)(134)
Education(4)(4)(4)(3)(3)(8)(8)
Other consumer(51)(64)(62)(52)(41)(115)(78)
Total gross charge-offs(195)(251)(224)(206)(428)(446)(671)
Recoveries:
Commercial and industrial15 30 20 25 29 45 43 
Commercial real estate1 1 2 2 2 2 3 
Equipment lease financing3 3 3 2 3 6 6 
Residential real estate6 5 8 9 6 11 11 
Home equity18 21 23 25 21 39 38 
Automobile39 31 26 38 41 70 79 
Credit card19 12 10 13 11 31 23 
Education2 1 2 2 2 3 4 
Other consumer9 10 6 9 7 19 12 
Total recoveries112 114 100 125 122 226 219 
Net (charge-offs) / recoveries:
Commercial and industrial(15)(11)(15)(21)(216)(26)(261)
Commercial real estate(4)(9)1 (26)(13)(30)
Equipment lease financing1 2 (1)(1)2 3 
Residential real estate6 (2)4 5 3 4 4 
Home equity16 17 19 23 14 33 24 
Automobile5 (21)(23)5 6 (16)(8)
Credit card(48)(56)(50)(49)(54)(104)(111)
Education(2)(3)(2)(1)(1)(5)(4)
Other consumer(42)(54)(56)(43)(34)(96)(66)
Total net (charge-offs) (a)(83)(137)(124)(81)(306)(220)(452)
Provision for (recapture of) credit losses (b)(10)(172)(362)(229)206 (182)(296)
Other(3)(1)(1)(6)1 (4)2 
Ending balance$4,462 $4,558 $4,868 $5,355 $5,730 $4,462 $5,730 
Supplemental Information
Net charge-offs
Commercial net charge-offs$(18)$(18)$(16)$(21)$(240)$(36)$(291)
Consumer net charge-offs(65)(119)(108)(60)(66)(184)(161)
Total net charge-offs (a)$(83)$(137)$(124)$(81)$(306)$(220)$(452)
Net charge-offs to average loans (annualized)0.11 %0.19 %0.17 %0.11 %0.48 %0.15 %0.37 %
Commercial0.03 %0.04 %0.03 %0.04 %0.55 %0.04 %0.34 %
Consumer0.27 %0.51 %0.45 %0.25 %0.33 %0.39 %0.42 %
(a)    Amounts for the three and six months ended June 30, 2021 included $248 million attributable to BBVA, primarily related to commercial and industrial loans, which were largely the result of required purchase accounting treatment for the BBVA acquisition on June 1, 2021.
(b)    See Table 7 for the components of the Provision for (recapture of) credit losses being reported on the Consolidated Income Statement.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 7
Allowance for Credit Losses (Unaudited) (Continued)

Table 7: Components of the Provision for (Recapture of) Credit Losses
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
In millions20222022202120212021 (a)20222021 (a)
Provision for (recapture of) credit losses
Loans and leases$(10)$(172)$(362)$(229)$206 $(182)$(296)
Unfunded lending related commitments42 (23)16 1 92 19 15 
Investment securities 3 1 25 4 26 
Other financial assets1 (14)19 4 (13)6 
Total provision for (recapture of) credit losses$36 $(208)$(327)$(203)$302 $(172)$(249)
(a)     Amounts include $1.0 billion of provision for credit losses that was recorded as part of the BBVA acquisition on June 1, 2021.

Table 8: Allowance for Credit Losses by Loan Class (a)
June 30, 2022March 31, 2022June 30, 2021

Dollars in millions		Allowance AmountTotal Loans% of Total LoansAllowance AmountTotal Loans% of Total LoansAllowance AmountTotal Loans% of Total Loans
Allowance for loan and lease losses
Commercial
Commercial and industrial$1,853 $171,831 1.08 %$1,884 $157,874 1.19 %$2,282 $155,300 1.47 %
Commercial real estate993 34,452 2.88 %1,034 34,171 3.03 %1,404 37,964 3.70 %
Equipment lease financing91 6,240 1.46 %85 6,216 1.37 %126 6,376 1.98 %
Total commercial2,937 212,523 1.38 %3,003 198,261 1.51 %3,812 199,640 1.91 %
Consumer
Residential real estate36 43,717 0.08 %25 41,566 0.06 %63 36,846 0.17 %
Home equity190 24,693 0.77 %170 24,185 0.70 %188 25,174 0.75 %
Automobile254 15,323 1.66 %276 16,001 1.72 %421 17,551 2.40 %
Credit card715 6,650 10.75 %708 6,464 10.95 %711 6,528 10.89 %
Education63 2,332 2.70 %66 2,441 2.70 %98 2,726 3.60 %
Other consumer267 5,562 4.80 %310 5,539 5.60 %437 6,239 7.00 %
Total consumer1,525 98,277 1.55 %1,555 96,196 1.62 %1,918 95,064 2.02 %
Total
4,462 $310,800 1.44 %4,558 $294,457 1.55 %5,730 $294,704 1.94 %
Allowance for unfunded lending related commitments
681 639 645 
Allowance for credit losses
$5,143 $5,197 $6,375 
Supplemental Information
Allowance for credit losses to total loans
1.65 %1.76 %2.16 %
Commercial1.68 %1.81 %2.18 %
Consumer1.60 %1.67 %2.14 %

(a)     Excludes allowances for investment securities and other financial assets, which together totaled $163 million, $158 million and $138 million at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

THE PNC FINANCIAL SERVICES GROUP, INC.

Page 8
Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type
June 30March 31December 31September 30June 30
Dollars in millions20222022202120212021
Nonperforming loans, including TDRs
Commercial
Commercial and industrial
Service providers$151 $173 $188 $220 $206 
Manufacturing101 70 52 62 65 
Retail/wholesale trade87 59 50 59 71 
Real estate related (a)59 39 64 49 78 
Health care54 37 46 56 71 
Transportation and warehousing30 28 18 21 18 
Technology, media & telecommunications21 36 33 37 62 
Other industries146 218 345 325 359 
Total commercial and industrial649 660 796 829 930 
Commercial real estate161 332 364 365 501 
Equipment lease financing5 6 8 10 15 
Total commercial815 998 1,168 1,204 1,446 
Consumer (b)
Residential real estate 457 526 517 533 503 
Home equity556 576 596 592 626 
Automobile175 181 183 184 191 
Credit card6 8 7 7 7 
Other consumer37 9 9 8 6 
Total consumer1,231 1,300 1,312 1,324 1,333 
Total nonperforming loans (c)2,046 2,298 2,480 2,528 2,779 
OREO and foreclosed assets29 26 26 31 39 
Total nonperforming assets$2,075 $2,324 $2,506 $2,559 $2,818 
Nonperforming loans to total loans0.66 %0.78 %0.86 %0.87 %0.94 %
Nonperforming assets to total loans, OREO and foreclosed assets0.67 %0.79 %0.87 %0.88 %0.96 %
Nonperforming assets to total assets0.38 %0.43 %0.45 %0.46 %0.51 %
Allowance for loan and lease losses to nonperforming loans 218 %198 %196 %212 %206 %
(a)Represents loans related to customers in the real estate and construction industries.
(b)Excludes most unsecured consumer loans and lines of credit, which are charged off after 120 to 180 days past due and are not placed on nonperforming status.
(c)Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale and loans accounted for under the fair value option.



Table 10: Change in Nonperforming Assets
April 1, 2022 -January 1, 2022 -October 1, 2021 -July 1, 2021 -April 1, 2021 -
In millionsJune 30, 2022March 31, 2022December 31, 2021September 30, 2021June 30, 2021
Beginning balance$2,324 $2,506 $2,559 $2,818 $2,179 
Acquired nonperforming assets (a)880 
New nonperforming assets393 346 395 365 207 
Charge-offs and valuation adjustments(55)(62)(53)(71)(61)
Principal activity, including paydowns and payoffs(273)(274)(240)(333)(264)
Asset sales and transfers to loans held for sale(6)(21)(3)(30)(15)
Returned to performing status(308)(171)(152)(190)(108)
Ending balance$2,075 $2,324 $2,506 $2,559 $2,818 
(a)Represents nonperforming assets acquired as a part of the BBVA acquisition on June 1, 2021 and includes $871 million of loans and $9 million of OREO and foreclosed assets. Our second quarter 2021 Form 10-Q included additional information on the BBVA acquisition.



THE PNC FINANCIAL SERVICES GROUP, INC.

Page 9
Accruing Loans Past Due (Unaudited)                  

Under the CARES Act credit reporting rules, certain loans modified due to COVID-19 related hardships are not being reported as past due
for the periods presented based on the contractual terms of the loan, even where borrowers may not be making payments on their loans during the modification period. Our 2021 Form 10-K included additional information on COVID-19 related loan modifications.

Table 11: Accruing Loans Past Due 30 to 59 Days (a)
June 30March 31December 31September 30June 30
Dollars in millions20222022202120212021
Commercial
Commercial and industrial$99$185$235$97$72
Commercial real estate286846685
Equipment lease financing7202553
Total commercial13427330617080
Consumer
Residential real estate
Non government insured 230239310178182
Government insured6866698188
Home equity4341534544
Automobile10210914611498
Credit card3739494237
Education
Non government insured 55555
Government insured
3936384041
Other consumer3847353431
Total consumer562582705539526
Total$696$855$1,011$709$606
Supplemental Information
Total accruing loans past due 30-59 days to total loans0.22 %0.29 %0.35 %0.24 %0.21 %
Commercial0.06 %0.14 %0.16 %0.09 %0.04 %
Consumer0.57 %0.61 %0.74 %0.57 %0.55 %
(a)Excludes loans held for sale.



THE PNC FINANCIAL SERVICES GROUP, INC.

Page 10
Accruing Loans Past Due (Unaudited) (Continued)

Table 12: Accruing Loans Past Due 60 to 89 Days (a)
June 30March 31December 31September 30June 30
Dollars in millions20222022202120212021
Commercial
Commercial and industrial$128$64$72$50$27
Commercial real estate11412423
Equipment lease financing41244
Total commercial143106985634
Consumer
Residential real estate
Non government insured 5347785353
Government insured4237414552
Home equity1416181817
Automobile2426402320
Credit card2528332724
Education
Non government insured
23232
Government insured
2121232320
Other consumer2126221516
Total consumer202204257207204
Total$345$310$355$263$238
Supplemental Information
Total accruing loans past due 60-89 days to total loans0.11 %0.11 %0.12 %0.09 %0.08 %
Commercial0.07 %0.05 %0.05 %0.03 %0.02 %
Consumer0.21 %0.21 %0.27 %0.22 %0.21 %
(a)Excludes loans held for sale.




THE PNC FINANCIAL SERVICES GROUP, INC.

Page 11
Accruing Loans Past Due (Unaudited) (Continued)

Table 13: Accruing Loans Past Due 90 Days or More (a)
June 30March 31December 31September 30June 30
Dollars in millions20222022202120212021
Commercial
Commercial and industrial$138$105$132$56$45
Commercial real estate71112
Total commercial1381121336747
Consumer
Residential real estate
Non government insured 2041593344
Government insured182232269268297
Automobile681443
Credit card5462625359
Education
Non government insured 22211
Government insured
5662636066
Other consumer1215171114
Total consumer332422486430484
Total$470$534$619$497$531
Supplemental Information
Total accruing loans past due 90 days or more to total loans0.15 %0.18 %0.21 %0.17 %0.18 %
Commercial0.06 %0.06 %0.07 %0.03 %0.02 %
Consumer0.34 %0.44 %0.51 %0.45 %0.51 %
Total accruing loans past due$1,511$1,699$1,985$1,469$1,375
Commercial$415$491$537$293$161
Consumer$1,096$1,208$1,448$1,176$1,214
Total accruing loans past due to total loans0.49 %0.58 %0.69 %0.51 %0.47 %
Commercial0.20 %0.25 %0.28 %0.15 %0.08 %
Consumer1.12 %1.26 %1.52 %1.24 %1.28 %
(a)Excludes loans held for sale.




THE PNC FINANCIAL SERVICES GROUP, INC.

Page 12
Business Segment Descriptions (Unaudited)

Retail Banking provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. As a result of the BBVA acquisition, we have become a coast-to-coast retail bank. Our national expansion strategy is designed to grow customers with digitally-led banking and a thin branch network as we expand into new markets. Deposit products include checking, savings and money market accounts and certificates of deposit. Lending products include residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans and personal and small business loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to agency and/or third-party standards, and either sold, servicing retained or held on our balance sheet. Brokerage, investment management and cash management products and services include managed, education, retirement and trust accounts.

Corporate & Institutional Banking provides lending, treasury management and capital markets products and services to mid-sized and large corporations, and government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. The Treasury Management business provides corporations with cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services and access to online/mobile information management and reporting services. Within Treasury Management, PNC Global Transfers provides wholesale money transfer processing capabilities between the U.S., Mexico and other countries primarily in Central America and South America. Capital markets products and services include foreign exchange, derivatives, fixed income, securities underwriting, loan syndications, mergers and acquisitions advisory and equity capital markets advisory related services. We also provide commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are provided nationally.

Asset Management Group provides private banking for high net worth and ultra high net worth clients and institutional asset management. The Asset Management group is comprised of two distinct operating units:
•PNC Private Bank provides products and services to emerging affluent, high net worth and ultra high net worth individuals and their families including investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration. In addition, multi-generational family planning services are also provided to ultra high net worth individuals and their families which include estate, financial, tax, fiduciary and customized performance reporting through PNC Private Bank Hawthorn.
•Institutional Asset Management provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, retirement plan fiduciary investment services to institutional clients including corporations, healthcare systems, insurance companies, unions, municipalities and non-profits.

Table 14: Period End Employees
June 30March 31December 31September 30June 30
20222022202120212021
Full-time employees
Retail Banking33,565 33,293 32,563 33,188 33,471 
Other full-time employees25,390 25,037 25,105 25,442 25,512 
Total full-time employees58,955 58,330 57,668 58,630 58,983 
Part-time employees
Retail Banking1,712 1,670 1,669 1,616 1,821 
Other part-time employees460 82 89 94 431 
Total part-time employees2,172 1,752 1,758 1,710 2,252 
Total61,127 60,082 59,426 60,340 61,235 


THE PNC FINANCIAL SERVICES GROUP, INC.

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Table 15: Summary of Business Segment Net Income and Revenue (Unaudited) (a)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
In millions2022202220212021202120222021
Income
Retail Banking$322 $340 $362 $447 $232 $662 $839 
Corporate & Institutional Banking1,003 956 1,334 1,123 809 1,959 1,867 
Asset Management Group86 102 106 114 87 188 186 
Other70 10 (509)(210)(37)80 15 
Net income excluding noncontrolling
  interests		$1,481 $1,408 $1,293 $1,474 $1,091 $2,889 $2,907 
  
Revenue
Retail Banking$2,410 $2,276 $2,408 $2,375 $2,203 $4,686 $4,219 
Corporate & Institutional Banking2,221 1,964 2,281 2,306 1,959 4,185 3,767 
Asset Management Group387 386 388 397 356 773 678 
Other98 66 50 119 149 164 223 
Total revenue$5,116 $4,692 $5,127 $5,197 $4,667 $9,808 $8,887 

(a)Our business information is presented based on our internal management reporting practices. Net interest income in business segment results reflects PNC’s internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 14
Table 16: Retail Banking (Unaudited) (a)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
Dollars in millions2022202220212021202120222021
Income Statement
Net interest income$1,662 $1,531 $1,634 $1,713 $1,497 $3,193 $2,859 
Noninterest income748 745 774 662 706 1,493 1,360 
Total revenue2,410 2,276 2,408 2,375 2,203 4,686 4,219 
Provision for (recapture of) credit losses55 (81)55 (113)214 (26)(43)
Noninterest expense1,913 1,892 1,874 1,889 1,677 3,805 3,153 
Pretax earnings 442 465 479 599 312 907 1,109 
Income taxes105 109 112 140 73 214 256 
Noncontrolling interests15 16 5 12 7 31 14 
Earnings $322 $340 $362 $447 $232 $662 $839 
Average Balance Sheet
Loans held for sale$957 $1,183 $1,425 $1,583 $1,405 $1,070 $1,150 
Loans
Consumer
Residential real estate$33,240 $31,528 $30,888 $30,702 $21,653 $32,389 $19,573 
Home equity22,886 22,458 22,572 23,047 22,080 22,673 21,957 
Automobile15,566 16,274 16,944 17,377 14,888 15,918 14,392 
Credit card6,508 6,401 6,513 6,484 5,900 6,455 5,860 
Education2,410 2,532 2,620 2,712 2,812 2,470 2,875 
Other consumer2,173 2,348 2,612 2,892 2,175 2,261 2,036 
Total consumer 82,783 81,541 82,149 83,214 69,508 82,166 66,693 
Commercial 11,044 11,610 12,844 15,895 14,796 11,325 14,272 
Total loans$93,827 $93,151 $94,993 $99,109 $84,304 $93,491 $80,965 
Total assets$113,068 $111,754 $113,782 $117,394 $100,948 $112,415 $96,942 
Deposits
Noninterest-bearing $65,599 $64,058 $65,510 $65,985 $54,260 $64,833 $49,578 
Interest-bearing 202,801 201,021 197,312 196,006 178,946 201,916 171,211 
Total deposits$268,400 $265,079 $262,822 $261,991 $233,206 $266,749 $220,789 
Performance Ratios
Return on average assets1.14 %1.23 %1.26 %1.51 %0.92 %1.19 %1.75 %
Noninterest income to total revenue31 %33 %32 %28 %32 %32 %32 %
Efficiency79 %83 %78 %80 %76 %81 %75 %
(a)See note (a) on page 13.

THE PNC FINANCIAL SERVICES GROUP, INC.

Page 15
Retail Banking (Unaudited) (Continued)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
Dollars in millions, except as noted2022202220212021202120222021
Supplemental Noninterest Income Information
Asset management and brokerage $135 $134 $131 $122 $110 $269 $212 
Card and cash management$351 $308 $347 $346 $324 $659 $588 
Lending and deposit services $167 $164 $157 $180 $148 $331 $282 
Residential and commercial mortgage $71 $99 $101 $147 $103 $170 $208 
Residential Mortgage Information
Residential mortgage servicing statistics (in billions, except as noted) (a)
Serviced portfolio balance (b)$145 $135 $133 $139 $145 
Serviced portfolio acquisitions$15 $6 $2 $2 $33 $21 $40 
MSR asset value (b)$1.6 $1.3 $1.1 $1.1 $1.1 
MSR capitalization value (in basis points) (b)112 98 81 81 77 
Servicing income: (in millions)
Servicing fees, net (c)$36 $33 $14 $18 $(3)$69 $2 
Mortgage servicing rights valuation, net of
   economic hedge		$13 $2 $2 $24 $24 $15 $38 
Residential mortgage loan statistics
Loan origination volume (in billions)$4.8 $5.1 $6.6 $7.4 $6.5 $9.9 $10.8 
Loan sale margin percentage1.88 %2.45 %2.55 %3.01 %2.67 %2.18 %2.92 %
Percentage of originations represented by:
Purchase volume (d)74 %42 %38 %47 %48 %57 %43 %
Refinance volume26 %58 %62 %53 %52 %43 %57 %
Other Information (b)
Customer-related statistics (average)
Non-teller deposit transactions (e)64 %64 %64 %66 %65 %64 %66 %
Digital consumer customers (f)78 %78 %79 %80 %80 %78 %80 %
Credit-related statistics
Nonperforming assets $1,088 $1,168 $1,220 $1,220 $1,245 
Net charge-offs - loans and leases$88 $141 $124 $82 $79 $229 $187 
Other statistics
ATMs9,301 9,502 9,523 9,572 9,636 
Branches (g)2,535 2,591 2,629 2,712 2,724 
Brokerage account client assets (in billions) (h)$68 $74 $78 $76 $83 

(a)Represents mortgage loan servicing balances for third parties and the related income.
(b)Presented as of period end, except for average customer-related statistics and net charge-offs, which are both shown for the three and six months ended.
(c)Servicing fees net of impact of decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan payments, prepayments, and loans that were paid down or paid off during the period.
(d)Mortgages with borrowers as part of residential real estate purchase transactions.
(e)Percentage of total consumer and business banking deposit transactions processed at an ATM or through our mobile banking application.
(f)Represents consumer checking relationships that process the majority of their transactions through non-teller channels.
(g)Excludes stand-alone mortgage offices and satellite offices (e.g., drive-ups, electronic branches and retirement centers) that provide limited products and/or services.
(h)Includes cash and money market balances.


THE PNC FINANCIAL SERVICES GROUP, INC.

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Table 17: Corporate & Institutional Banking (Unaudited) (a)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
Dollars in millions2022202220212021202120222021
Income Statement
Net interest income$1,253 $1,160 $1,228 $1,250 $1,092 $2,413 $2,093 
Noninterest income968 804 1,053 1,056 867 1,772 1,674 
Total revenue2,221 1,964 2,281 2,306 1,959 4,185 3,767 
Provision for (recapture of) credit losses(17)(118)(369)(99)104 (135)(178)
Noninterest expense934 837 975 980 813 1,771 1,524 
Pretax earnings1,304 1,245 1,675 1,425 1,042 2,549 2,421 
Income taxes 298 285 337 299 229 583 547 
Noncontrolling interests3 4 4 3 4 7 7 
Earnings$1,003 $956 $1,334 $1,123 $809 $1,959 $1,867 
Average Balance Sheet
Loans held for sale$490 $628 $539 $541 $564 $559 $627 
Loans
Commercial
Commercial and industrial $153,948 $141,622 $137,079 $134,128 $121,232 $147,819 $118,106 
Commercial real estate32,844 32,433 33,559 35,368 30,118 32,640 28,658 
Equipment lease financing6,201 6,099 6,184 6,300 6,332 6,150 6,332 
Total commercial 192,993 180,154 176,822 175,796 157,682 186,609 153,096 
Consumer14 8 12 20 13 11 10 
Total loans$193,007 $180,162 $176,834 $175,816 $157,695 $186,620 $153,106 
Total assets$219,513 $200,724 $198,874 $202,268 $181,770 $210,171 $176,182 
Deposits
Noninterest-bearing $81,028 $86,178 $88,023 $85,869 $75,570 $83,589 $71,142 
Interest-bearing65,151 68,429 72,397 77,247 69,443 66,780 69,555 
Total deposits$146,179 $154,607 $160,420 $163,116 $145,013 $150,369 $140,697 
Performance Ratios
Return on average assets1.83 %1.93 %2.66 %2.20 %1.79 %1.88 %2.14 %
Noninterest income to total revenue44 %41 %46 %46 %44 %42 %44 %
Efficiency42 %43 %43 %42 %42 %42 %40 %
Other Information
Consolidated revenue from:
Treasury Management (b)$659 $546 $560 $592 $523 $1,205 $1,017 
Commercial mortgage banking activities:
Commercial mortgage loans held for sale (c)$20 $16 $42 $44 $29 $36 $59 
Commercial mortgage loan servicing income (d)70 68 90 88 66 138 156 
Commercial mortgage servicing rights valuation,
   net of economic hedge		33 13 16 14 33 46 50 
Total$123 $97 $148 $146 $128 $220 $265 
MSR asset value (e)$988 $886 $740 $703 $682 
Average loans by C&IB business
Corporate Banking$103,595 $92,503 $87,284 $85,208 $77,645 $98,079 $75,806 
Real Estate44,202 43,213 44,787 47,335 41,188 43,710 39,799 
Business Credit28,246 26,535 26,065 25,540 22,965 27,395 22,263 
Commercial Banking9,459 10,045 10,924 13,458 12,513 9,751 11,919 
Other7,505 7,866 7,774 4,275 3,384 7,685 3,319 
Total average loans$193,007 $180,162 $176,834 $175,816 $157,695 $186,620 $153,106 
Credit-related statistics
Nonperforming assets (e)$674 $866 $1,007 $1,061 $1,274 
Net charge-offs (recoveries) - loans and leases$11 $(1)$(1)$13 $233 $10 $277 

(a)See note (a) on page 13.
(b)Amounts are reported in net interest income and noninterest income.
(c)Represents commercial mortgage banking income for valuations on commercial mortgage loans held for sale and related commitments, derivative valuations, origination fees, gains on sale of loans held for sale and net interest income on loans held for sale.
(d)Represents net interest income and noninterest income from loan servicing, net of reduction in commercial mortgage servicing rights due to ammortization expense and payoffs. Commercial mortgage servicing rights valuation, net of economic hedge is shown separately.
(e)Presented as of period end.

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Table 18: Asset Management Group (Unaudited) (a)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
Dollars in millions, except as noted2022202220212021202120222021
Income Statement
Net interest income$153 $138 $130 $141 $112 $291 $205 
Noninterest income234 248 258 256 244 482 473 
Total revenue387 386 388 397 356 773 678 
Provision for (recapture of) credit losses 5 2 (15)(6)23 7 14 
Noninterest expense270 251 265 255 219 521 421 
Pretax earnings112 133 138 148 114 245 243 
Income taxes 26 31 32 34 27 57 57 
Earnings$86 $102 $106 $114 $87 $188 $186 
Average Balance Sheet
Loans
Consumer
Residential real estate $7,835 $6,989 $6,295 $5,727 $4,439 $7,414 $4,040 
Other consumer4,633 4,541 4,535 4,544 4,190 4,587 4,099 
Total consumer 12,468 11,530 10,830 10,271 8,629 12,001 8,139 
Commercial1,560 1,848 2,093 2,693 1,415 1,704 1,087 
Total loans$14,028 $13,378 $12,923 $12,964 $10,044 $13,705 $9,226 
Total assets$14,449 $13,801 $13,317 $13,805 $10,640 $14,126 $9,761 
Deposits
Noninterest-bearing $2,824 $3,458 $3,025 $4,332 $2,537 $3,140 $2,148 
Interest-bearing28,839 29,830 26,318 24,984 20,894 29,331 19,865 
Total deposits$31,663 $33,288 $29,343 $29,316 $23,431 $32,471 $22,013 
Performance Ratios
Return on average assets2.39 %3.00 %3.16 %3.28 %3.28 %2.68 %3.84 %
Noninterest income to total revenue60 %64 %66 %64 %69 %62 %70 %
Efficiency70 %65 %68 %64 %62 %67 %62 %
Other Information
Nonperforming assets (b) $114 $72 $62 $80 $85 
Net charge-offs (recoveries) - loans and leases $(1)$2 $1 $(1)$2 $1 $2 
Brokerage account client assets (in billions) (b)$4 $5 $5 $5 $5 
Client Assets Under Administration (in billions) (b) (c)
Discretionary client assets under management$167 $182 $192 $183 $183 
Nondiscretionary client assets under administration153 165 175 170 172 
Total$320 $347 $367 $353 $355 
Discretionary client assets under management
PNC Private Bank$103 $115 $123 $117 $119 
Institutional Asset Management64 67 69 66 64 
Total$167 $182 $192 $183 $183 
(a)See note (a) on page 13.
(b)As of period end.
(c)Excludes brokerage account client assets.

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Glossary of Terms

2019 Tailoring Rules – Rules adopted by the federal banking agencies to better tailor the application of their capital, liquidity, and enhanced prudential requirements for banking organizations to the asset size and risk profile (as measured by certain regulatory metrics) of the banking organization. Effective January 1, 2020, the agencies' capital and liquidity rules classify all BHCs with $100 billion or more in total assets into one of four categories (Category I, Category II, Category III, and Category IV).

Adjusted average total assets - Primarily consisted of total average quarterly (or annual) assets plus/less unrealized losses (gains) on investment securities, less goodwill and certain other intangible assets (net of eligible deferred taxes).

Allowance for credit losses (ACL) – A valuation account that is deducted from or added to the amortized cost basis of the related
financial assets to present the net carrying value at the amount expected to be collected on the financial asset.

Amortized cost basis - Amount at which a financial asset is originated or acquired, adjusted for applicable accretion or amortization of premiums, discounts and net deferred fees or costs, collection of cash, charge-offs, foreign exchange and fair value hedge accounting adjustments.

Basel III common equity Tier 1 (CET1) capital (Tailoring Rules) - Common stock plus related surplus, net of treasury stock, plus retained earnings, less goodwill, net of associated deferred tax liabilities, less other disallowed intangibles, net of deferred tax liabilities and plus/less other adjustments. Investments in unconsolidated financial institutions, as well as mortgage servicing rights and deferred tax assets, must then be deducted to the extent such items (net of associated deferred tax liabilities) individually exceed 25% of our adjusted Basel III common equity Tier 1 capital.

Basel III common equity Tier 1 capital ratio - Common equity Tier 1 capital divided by period-end risk-weighted assets (as applicable).

Basel III Tier 1 capital - Common equity Tier 1 capital, plus qualifying preferred stock, plus certain trust preferred capital securities, plus certain noncontrolling interests that are held by others and plus/less other adjustments.

Basel III Tier 1 capital ratio - Tier 1 capital divided by period-end risk-weighted assets (as applicable).

Basel III Total capital - Tier 1 capital plus qualifying subordinated debt, plus certain trust preferred securities, plus, under the Basel III transitional rules and the standardized approach, the allowance for loan and lease losses included in Tier 2 capital and other.

Basel III Total capital ratio - Basel III Total capital divided by period-end risk-weighted assets (as applicable).

BBVA – BBVA USA Bancshares, Inc.

BBVA, S.A. – Banco Bilbao Vizcaya Argentaria, S.A.

BBVA USA – BBVA USA, the Alabama-chartered bank subsidiary of BBVA USA Bancshares, Inc.

BlackRock – BlackRock, Inc.

Charge-off - Process of removing a loan or portion of a loan from our balance sheet because it is considered uncollectible. We also record a charge-off when a loan is transferred from portfolio holdings to held for sale by reducing the loan carrying amount to the fair value of the loan, if fair value is less than carrying amount.

Common shareholders’ equity - Total shareholders' equity less the liquidation value of preferred stock.

Credit valuation adjustment - Represents an adjustment to the fair value of our derivatives for our own and counterparties’ non-performance risk.

Criticized commercial loans - Loans with potential or identified weaknesses based upon internal risk ratings that comply with the regulatory classification definitions of “Special Mention,” “Substandard” or “Doubtful.”

Current Expected Credit Loss (CECL) - Methodology for estimating the allowance for credit losses on in-scope financial assets held at amortized cost and unfunded lending related commitments which uses a combination of expected losses over a reasonable and supportable forecast period, a reversion period and long run average credit losses for their estimated contractual term.


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Discretionary client assets under management - Assets over which we have sole or shared investment authority for our customers/clients. We do not include these assets on our Consolidated Balance Sheet.

Earning assets - Assets that generate income, which include: interest-earning deposits with banks; loans held for sale; loans; investment securities; and certain other assets.

Effective duration - A measurement, expressed in years, that, when multiplied by a change in interest rates, would approximate the percentage change in value of on- and off- balance sheet positions.

Efficiency - Noninterest expense divided by total revenue.

Fair value - The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fee income - Refers to the following categories within Noninterest income: Asset management; Consumer services; Corporate services; Residential mortgage; and Service charges on deposits.

FICO score - A credit bureau-based industry standard score created by Fair Isaac Co. which predicts the likelihood of borrower default. We use FICO scores both in underwriting and assessing credit risk in our consumer lending portfolio. Lower FICO scores indicate likely higher risk of default, while higher FICO scores indicate likely lower risk of default. FICO scores are updated on a periodic basis.

GAAP - Accounting principles generally accepted in the United States of America.

Leverage ratio - Basel III Tier 1 capital divided by average quarterly adjusted total assets.

Nondiscretionary client assets under administration - Assets we hold for our customers/clients in a nondiscretionary, custodial capacity. We do not include these assets on our Consolidated Balance Sheet.

Nonperforming assets - Nonperforming assets include nonperforming loans, OREO and foreclosed assets. We do not accrue interest income on assets classified as nonperforming.

Nonperforming loans - Loans accounted for at amortized cost whose credit quality has deteriorated to the extent that full collection of contractual principal and interest is not probable, including TDRs which have not returned to performing status. Interest income is not recognized on nonperforming loans. Nonperforming loans exclude certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest, loans held for sale and loans accounted for under the fair value option.

Operating leverage - The period to period dollar or percentage change in total revenue less the dollar or percentage change in noninterest expense. A positive variance indicates that revenue growth exceeded expense growth (i.e., positive operating leverage) while a negative variance implies expense growth exceeded revenue growth (i.e., negative operating leverage).

Other real estate owned (OREO) and foreclosed assets - Assets taken in settlement of troubled loans primarily through deed-in-lieu of foreclosure or foreclosure. Foreclosed assets include real and personal property. Certain assets that have a government-guarantee which are classified as other receivables are excluded.

Purchased credit deteriorated assets (PCD) - Acquired loans or debt securities that, at acquisition, are determined to have experienced a more-than-insignificant deterioration in credit quality since origination or issuance.

Risk-weighted assets - Computed by the assignment of specific risk-weights (as defined by the Board of Governors of the Federal Reserve System) to assets and off-balance sheet instruments.

Servicing rights - Intangible assets or liabilities created by an obligation to service assets for others. Typical servicing rights include the right to receive a fee for collecting and forwarding payments on loans and related taxes and insurance premiums held in escrow.

Supplementary leverage ratio - Basel III Tier 1 capital divided by Supplementary leverage exposure.

Taxable-equivalent interest income - The interest income earned on certain assets that is completely or partially exempt from federal income tax. These tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of yields and margins for all interest-earning assets, we use interest income on a taxable-equivalent basis in calculating average yields and net interest margins by increasing the interest income earned on tax-exempt assets to make it fully equivalent to

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interest income earned on other taxable investments. This adjustment is not permitted under GAAP on the Consolidated Income Statement.

Troubled debt restructuring (TDR) - A loan whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties.

Unfunded lending related commitments - Standby letters of credit, financial guarantees, commitments to extend credit and similar unfunded obligations that are not unilaterally, unconditionally, cancelable at PNC’s option.

Yield curve - A graph showing the relationship between the yields on financial instruments or market indices of the same credit quality with different maturities. For example, a “normal” or “positive” yield curve exists when long-term bonds have higher yields than short-term bonds. A “flat” yield curve exists when yields are the same for short-term and long-term bonds. A “steep” yield curve exists when yields on long-term bonds are significantly higher than on short-term bonds. An “inverted” or “negative” yield curve exists when short-term bonds have higher yields than long-term bonds.