Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.2
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations The following table includes the notional amount of commitments of $4.9 billion and $4.0 billion at September 30, 2021 and December 31, 2020 that are accounted for under the fair value option. However, the table excludes the cumulative net fair value for these commitments of $95 million and $99 million at September 30, 2021 and December 31, 2020, 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) September 30, 2021
Notional amount of credit extension commitments          
Loan commitments (1)
$ 105,772  $ 196,782  $ 162,919  $ 32,030  $ 497,503 
Home equity lines of credit 841  4,439  10,237  25,257  40,774 
Standby letters of credit and financial guarantees (2)
21,850  11,127  1,689  424  35,090 
Letters of credit 1,574  162  32  43  1,811 
Legally binding commitments 130,037  212,510  174,877  57,754  575,178 
Credit card lines (3)
402,382  —  —  —  402,382 
Total credit extension commitments $ 532,419  $ 212,510  $ 174,877  $ 57,754  $ 977,560 
  December 31, 2020
Notional amount of credit extension commitments          
Loan commitments (1)
$ 109,406  $ 171,887  $ 139,508  $ 16,091  $ 436,892 
Home equity lines of credit 710  2,992  8,738  29,892  42,332 
Standby letters of credit and financial guarantees (2)
19,962  12,038  2,397  1,257  35,654 
Letters of credit 886  197  25  27  1,135 
Legally binding commitments 130,964  187,114  150,668  47,267  516,013 
Credit card lines (3)
384,955  —  —  —  384,955 
Total credit extension commitments $ 515,919  $ 187,114  $ 150,668  $ 47,267  $ 900,968 
(1)     At September 30, 2021 and December 31, 2020, $5.4 billion and $4.8 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 $25.7 billion and $8.9 billion at September 30, 2021, and $25.0 billion and $10.2 billion at December 31, 2020. Amounts in the table include consumer SBLCs of $495 million and $500 million at September 30, 2021 and December 31, 2020.
(3)     Includes business card unused lines of credit.