Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.22.2.2
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations The following table includes the notional amount of commitments of $3.5 billion and $4.8 billion at September 30, 2022 and December 31, 2021 that are accounted for under the fair value option. However, the table excludes the cumulative net fair value for these commitments of $200 million and $97 million at September 30, 2022 and December 31, 2021, 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, 2022
Notional amount of credit extension commitments          
Loan commitments (1)
$ 108,780  $ 159,380  $ 210,765  $ 20,174  $ 499,099 
Home equity lines of credit 1,285  6,643  11,310  22,120  41,358 
Standby letters of credit and financial guarantees (2)
23,186  10,561  2,762  449  36,958 
Letters of credit 946  70  37  49  1,102 
Other commitments (3)
25  65  43  1,161  1,294 
Legally binding commitments 134,222  176,719  224,917  43,953  579,811 
Credit card lines (4)
426,749  —  —  —  426,749 
Total credit extension commitments $ 560,971  $ 176,719  $ 224,917  $ 43,953  $ 1,006,560 
  December 31, 2021
Notional amount of credit extension commitments          
Loan commitments (1)
$ 102,464  $ 190,687  $ 174,978  $ 26,635  $ 494,764 
Home equity lines of credit 890  5,097  10,268  24,276  40,531 
Standby letters of credit and financial guarantees (2)
22,359  10,742  2,017  422  35,540 
Letters of credit 1,145  124  56  98  1,423 
Other commitments (3)
18  59  81  1,233  1,391 
Legally binding commitments 126,876  206,709  187,400  52,664  573,649 
Credit card lines (4)
406,169  —  —  —  406,169 
Total credit extension commitments $ 533,045  $ 206,709  $ 187,400  $ 52,664  $ 979,818 
(1)     At September 30, 2022 and December 31, 2021, $3.2 billion and $4.6 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 $26.4 billion and $10.1 billion at September 30, 2022, and $26.3 billion and $8.7 billion at December 31, 2021. Amounts in the table include consumer SBLCs of $534 million and $512 million at September 30, 2022 and December 31, 2021.
(3)     Primarily includes second-loss positions on lease-end residual value guarantees.
(4)     Includes business card unused lines of credit.