| Schedule of Guarantor Obligations [Table Text Block] |
The table below also includes the notional amount of commitments of $18.3 billion and $25.7 billion at December 31, 2012 and 2011 that are accounted for under the fair value option. However, the table below excludes cumulative net fair value adjustments of $528 million and $1.2 billion on these commitments, which are classified in accrued expenses and other liabilities. For information regarding the Corporation’s loan commitments accounted for under the fair value option, see Note 22 – Fair Value Option.
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Credit Extension Commitments |
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December 31, 2012 |
(Dollars in millions) |
Expire in One
Year or Less |
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Expire After One
Year Through
Three Years |
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Expire After Three
Years Through
Five Years |
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Expire After Five
Years |
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Total |
Notional amount of credit extension commitments |
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Loan commitments |
$ |
103,791 |
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$ |
83,885 |
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$ |
130,805 |
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$ |
19,942 |
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$ |
338,423 |
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Home equity lines of credit |
2,134 |
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13,584 |
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23,344 |
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21,856 |
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60,918 |
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Standby letters of credit and financial guarantees (1)
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24,593 |
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11,387 |
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3,094 |
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4,751 |
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43,825 |
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Letters of credit |
2,003 |
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70 |
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10 |
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546 |
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2,629 |
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Legally binding commitments |
132,521 |
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108,926 |
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157,253 |
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47,095 |
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445,795 |
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Credit card lines (2)
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414,044 |
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— |
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— |
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— |
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414,044 |
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Total credit extension commitments |
$ |
546,565 |
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$ |
108,926 |
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$ |
157,253 |
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$ |
47,095 |
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$ |
859,839 |
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December 31, 2011 |
Notional amount of credit extension commitments |
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Loan commitments |
$ |
96,291 |
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$ |
85,413 |
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$ |
120,770 |
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$ |
15,009 |
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$ |
317,483 |
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Home equity lines of credit |
1,679 |
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7,765 |
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20,963 |
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37,066 |
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67,473 |
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Standby letters of credit and financial guarantees (1)
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26,965 |
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18,932 |
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6,433 |
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5,505 |
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57,835 |
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Letters of credit |
2,828 |
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27 |
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5 |
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383 |
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3,243 |
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Legally binding commitments |
127,763 |
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112,137 |
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148,171 |
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57,963 |
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446,034 |
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Credit card lines (2)
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449,097 |
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— |
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— |
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— |
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449,097 |
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Total credit extension commitments |
$ |
576,860 |
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$ |
112,137 |
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$ |
148,171 |
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$ |
57,963 |
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$ |
895,131 |
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(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 $31.5 billion and $11.6 billion at December 31, 2012, and $39.2 billion and $17.8 billion at December 31, 2011. Amounts include consumer SBLCs of $669 million and $859 million at December 31, 2012 and 2011.
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(2) |
Includes business card unused lines of credit. |
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