Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.10.0.1
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Carrying and Fair Value of Financial Instruments The carrying values and fair values by fair value hierarchy of certain financial instruments where only a portion of the ending balance was carried at fair value at December 31, 2018 and 2017 are presented in the following table.
 
 
 
 
 
 
 
 
Fair Value of Financial Instruments
 
 
 
 
 
 
 
Fair Value
 
Carrying Value
 
Level 2
 
Level 3
 
Total
(Dollars in millions)
December 31, 2018
Financial assets
 
 
 
 
 
 
 
Loans
$
911,520

 
$
58,228

 
$
859,160

 
$
917,388

Loans held-for-sale
10,367

 
9,592

 
775

 
10,367

Financial liabilities
 

 
 
 
 
 
 
Deposits (1)
1,381,476

 
1,381,239

 
—

 
1,381,239

Long-term debt
229,340

 
229,967

 
817

 
230,784

Commercial unfunded lending commitments (2)
966

 
169

 
5,558

 
5,727

 
 
 
 
 
 
 
 
 
December 31, 2017
Financial assets
 
 
 
 
 
 
 
Loans
$
904,399

 
$
68,586

 
$
849,576

 
$
918,162

Loans held-for-sale
11,430

 
10,521

 
909

 
11,430

Financial liabilities
 

 
 
 
 
 


Deposits (1)
1,309,545

 
1,309,398

 
—

 
1,309,398

Long-term debt
227,402

 
235,126

 
1,863

 
236,989

Commercial unfunded lending commitments (2)
897

 
120

 
3,908

 
4,028


(1) Includes demand deposits of $531.9 billion and $519.6 billion with no stated maturities at December 31, 2018 and 2017.
(2) 
The carrying value of commercial unfunded lending commitments is included in accrued expenses and other liabilities on the Consolidated Balance Sheet. The Corporation does not estimate the fair value of consumer unfunded lending commitments because, in many instances, the Corporation can reduce or cancel these commitments by providing notice to the borrower. For more information on commitments, see .