Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.19.3
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations
The table below also includes the notional amount of commitments of $4.8 billion and $3.1 billion at September 30, 2019 and December 31, 2018 that are accounted for under the fair value option. However, the table excludes cumulative net fair value of $116 million and $169 million at September 30, 2019 and December 31, 2018 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 16 – 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)
September 30, 2019
Notional amount of credit extension commitments
 

 
 

 
 

 
 

 
 

Loan commitments (1)
$
90,401

 
$
150,634

 
$
166,467

 
$
20,344

 
$
427,846

Home equity lines of credit
1,379

 
1,854

 
5,459

 
34,601

 
43,293

Standby letters of credit and financial guarantees (2)
20,206

 
10,530

 
3,365

 
1,179

 
35,280

Letters of credit (3)
1,060

 
246

 
60

 
45

 
1,411

Legally binding commitments
113,046

 
163,264

 
175,351

 
56,169

 
507,830

Credit card lines (4)
377,392

 

 

 

 
377,392

Total credit extension commitments
$
490,438

 
$
163,264

 
$
175,351

 
$
56,169

 
$
885,222

 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
Notional amount of credit extension commitments
 

 
 

 
 

 
 

 
 

Loan commitments (1)
$
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 (2)
22,571

 
9,702

 
2,457

 
1,074

 
35,804

Letters of credit (3)
1,168

 
84

 
69

 
57

 
1,378

Legally binding commitments
111,227

 
154,306

 
161,354

 
58,516

 
485,403

Credit card lines (4)
371,658

 

 

 

 
371,658

Total credit extension commitments
$
482,885

 
$
154,306

 
$
161,354

 
$
58,516

 
$
857,061

(1)  
At September 30, 2019 and December 31, 2018, $5.3 billion and $4.3 billion of these loan commitments are 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 $26.6 billion and $8.3 billion at September 30, 2019, and $28.3 billion and $7.1 billion at December 31, 2018. Amounts in the table include consumer SBLCs of $406 million and $372 million at September 30, 2019 and December 31, 2018.
(3)  
At September 30, 2019 and December 31, 2018, included are letters of credit of $1.1 billion and $422 million related to certain liquidity commitments of VIEs. For additional information, see Note 7 – Securitizations and Other Variable Interest Entities.
(4) 
Includes business card unused lines of credit.