Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.23.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations The following table includes the notional amount of commitments of $2.6 billion and $3.0 billion at June 30, 2023 and December 31, 2022 that are accounted for under the fair value option. However, the table excludes the cumulative net fair value for these commitments of $75 million and $110 million at June 30, 2023 and December 31, 2022, 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) June 30, 2023
Notional amount of credit extension commitments          
Loan commitments (1)
$ 118,272  $ 172,755  $ 215,299  $ 14,347  $ 520,673 
Home equity lines of credit 1,912  8,717  11,560  22,449  44,638 
Standby letters of credit and financial guarantees (2)
21,139  9,542  3,233  565  34,479 
Letters of credit 827  23  254  38  1,142 
Other commitments (3)
5  47  124  1,052  1,228 
Legally binding commitments 142,155  191,084  230,470  38,451  602,160 
Credit card lines (4)
437,097  —  —  —  437,097 
Total credit extension commitments $ 579,252  $ 191,084  $ 230,470  $ 38,451  $ 1,039,257 
  December 31, 2022
Notional amount of credit extension commitments          
Loan commitments (1)
$ 113,962  $ 162,890  $ 221,374  $ 13,667  $ 511,893 
Home equity lines of credit 1,479  7,230  11,578  22,154  42,441 
Standby letters of credit and financial guarantees (2)
22,565  9,237  2,787  628  35,217 
Letters of credit 853  46  52  49  1,000 
Other commitments (3)
5  93  71  1,103  1,272 
Legally binding commitments 138,864  179,496  235,862  37,601  591,823 
Credit card lines (4)
419,144  —  —  —  419,144 
Total credit extension commitments $ 558,008  $ 179,496  $ 235,862  $ 37,601  $ 1,010,967 
(1)     At June 30, 2023 and December 31, 2022, $3.3 billion and $2.6 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 $24.3 billion and $9.5 billion at June 30, 2023, and $25.1 billion and $9.5 billion at December 31, 2022. Amounts in the table include consumer SBLCs of $599 million and $575 million at June 30, 2023 and December 31, 2022.
(3)     Primarily includes second-loss positions on lease-end residual value guarantees.
(4)     Includes business card unused lines of credit.