Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.10.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations The table below also includes the notional amount of commitments of $3.1 billion and $4.8 billion at December 31, 2018 and 2017 that are accounted for under the fair value option. However, the following table excludes cumulative net fair value of $169 million and $120 million at December 31, 2018 and 2017 on these commitments, 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 21 – 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)
December 31, 2018
Notional amount of credit extension commitments
 

 
 

 
 

 
 

 
 

Loan commitments
$
84,910

 
$
142,271

 
$
155,298

 
$
22,683

 
$
405,162

Home equity lines of credit
2,578

 
2,249

 
3,530

 
34,702

 
43,059

Standby letters of credit and financial guarantees (1)
22,571

 
9,702

 
2,457

 
1,074

 
35,804

Letters of credit (2)
1,168

 
84

 
69

 
57

 
1,378

Legally binding commitments
111,227

 
154,306

 
161,354

 
58,516

 
485,403

Credit card lines (3)
371,658

 

 

 

 
371,658

Total credit extension commitments
$
482,885

 
$
154,306

 
$
161,354

 
$
58,516

 
$
857,061

 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
Notional amount of credit extension commitments
 

 
 

 
 

 
 

 
 

Loan commitments
$
85,804

 
$
140,942

 
$
147,043

 
$
21,342

 
$
395,131

Home equity lines of credit
6,172

 
4,457

 
2,288

 
31,250

 
44,167

Standby letters of credit and financial guarantees (1)
19,976

 
11,261

 
3,420

 
1,144

 
35,801

Letters of credit
1,291

 
117

 
129

 
87

 
1,624

Legally binding commitments
113,243

 
156,777

 
152,880

 
53,823

 
476,723

Credit card lines (3)
362,030

 

 

 

 
362,030

Total credit extension commitments
$
475,273

 
$
156,777

 
$
152,880

 
$
53,823

 
$
838,753

(1)  
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 $28.3 billion and $7.1 billion at December 31, 2018, and $27.3 billion and $8.1 billion at December 31, 2017. Amounts in the table include consumer SBLCs of $372 million and $421 million at December 31, 2018 and 2017.
(2)  
At December 31, 2018, included letters of credit of $422 million related to certain liquidity commitments of VIEs. For additional information, see .
(3) 
Includes business card unused lines of credit.