Quarterly report [Sections 13 or 15(d)]

Commitments and Contingencies (Tables)

v3.25.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations
The following table includes the notional amount of commitments of $2.0 billion and $2.2 billion at March 31, 2025 and December 31, 2024 that are accounted for under the fair value option. However, the table excludes the cumulative net fair value for these commitments of $64 million and $144 million at March 31, 2025 and December 31, 2024, which is classified in accrued expenses and other liabilities. For more information regarding the Corporation’s loan commitments accounted for under the fair value option, see Note 15 – Fair Value Option.
Credit Extension Commitments
Expire in One
Year or Less		 Expire After One
Year Through
Three Years		 Expire After Three Years Through
Five Years		 Expire After
Five Years		 Total
(Dollars in millions) March 31, 2025
Notional amount of credit extension commitments          
Loan commitments (1)
$ 133,157  $ 212,462  $ 200,348  $ 19,264  $ 565,231 
Home equity lines of credit 3,756  10,510  8,833  21,094  44,193 
Standby letters of credit and financial guarantees (2)
23,102  9,466  3,293  353  36,214 
Letters of credit 702  36  11  21  770 
Other commitments (3)
6  91  71  1,012  1,180 
Legally binding commitments 160,723  232,565  212,556  41,744  647,588 
Credit card lines (4)
464,699  —  —  —  464,699 
Total credit extension commitments $ 625,422  $ 232,565  $ 212,556  $ 41,744  $ 1,112,287 
  December 31, 2024
Notional amount of credit extension commitments          
Loan commitments (1)
$ 123,520  $ 227,539  $ 191,469  $ 19,011  $ 561,539 
Home equity lines of credit 3,518  10,570  8,920  21,272  44,280 
Standby letters of credit and financial guarantees (2)
25,080  8,006  2,589  370  36,045 
Letters of credit 781  142  8  19  950 
Other commitments (3)
5  52  88  1,028  1,173 
Legally binding commitments 152,904  246,309  203,074  41,700  643,987 
Credit card lines (4)
456,185  —  —  —  456,185 
Total credit extension commitments $ 609,089  $ 246,309  $ 203,074  $ 41,700  $ 1,100,172 
(1)     At both March 31, 2025 and December 31, 2024, $4.4 billion of these loan commitments were held in the form of a security.
(2) The notional amounts of SBLCs and financial guarantees classified as investment grade and non-investment grade based on the credit quality of the underlying reference name within the instrument were $25.1 billion and $10.1 billion at March 31, 2025, and $25.0 billion and $10.1 billion at December 31, 2024. Amounts in the table include consumer SBLCs of $1.1 billion and $1.0 billion at March 31, 2025 and December 31, 2024.
(3)     Primarily includes second-loss positions on lease-end residual value guarantees.
(4)     Includes business card unused lines of credit.