Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations The following table includes the notional amount of commitments of $4.8 billion and $4.0 billion at December 31, 2021 and 2020 that are accounted for under the fair value option. However, the table excludes the cumulative net fair value for these commitments of $97 million and $99 million at December 31, 2021 and 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 21 – 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) 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 
  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 
Other commitments (3)
22  132  125  1,219  1,498 
Legally binding commitments 130,986  187,246  150,793  48,486  517,511 
Credit card lines (4)
384,955  —  —  —  384,955 
Total credit extension commitments $ 515,941  $ 187,246  $ 150,793  $ 48,486  $ 902,466 
(1)     At December 31, 2021 and 2020, $4.6 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 $26.3 billion and $8.7 billion at December 31, 2021, and $25.0 billion and $10.2 billion at December 31, 2020. Amounts in the table include consumer SBLCs of $512 million and $500 million at December 31, 2021 and 2020.
(3)     Primarily includes second-loss positions on lease-end residual value guarantees.
(4)     Includes business card unused lines of credit.