| Schedule of Guarantor Obligations |
The table below also includes the notional amount of commitments of $20.5 billion and $25.7 billion at September 30, 2012 and December 31, 2011 that are accounted for under the fair value option. However, the table below excludes fair value adjustments of $635 million and $1.2 billion on these commitments, which are classified in accrued expenses and other liabilities. For information regarding the Corporation’s loan commitments accounted for under the fair value option, see Note 16 – Fair Value Option.
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Credit Extension Commitments |
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September 30, 2012 |
(Dollars in millions) |
Expire in
One Year
or Less
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Expire After
One Year Through
Three Years
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Expire After Three Years Through
Five Years |
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Expire After Five Years |
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Total |
Notional amount of credit extension commitments |
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Loan commitments |
$ |
101,289 |
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$ |
79,744 |
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$ |
128,455 |
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$ |
17,350 |
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$ |
326,838 |
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Home equity lines of credit |
2,120 |
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12,136 |
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22,910 |
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25,338 |
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62,504 |
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Standby letters of credit and financial guarantees (1)
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28,959 |
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13,467 |
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4,499 |
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221 |
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47,146 |
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Letters of credit |
2,019 |
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75 |
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10 |
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915 |
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3,019 |
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Legally binding commitments |
134,387 |
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105,422 |
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155,874 |
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43,824 |
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439,507 |
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Credit card lines (2)
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424,328 |
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— |
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— |
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— |
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424,328 |
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Total credit extension commitments |
$ |
558,715 |
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$ |
105,422 |
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$ |
155,874 |
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$ |
43,824 |
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$ |
863,835 |
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December 31, 2011 |
Notional amount of credit extension commitments |
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Loan commitments |
$ |
96,291 |
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$ |
85,413 |
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$ |
120,770 |
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$ |
15,009 |
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$ |
317,483 |
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Home equity lines of credit |
1,679 |
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7,765 |
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20,963 |
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37,066 |
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67,473 |
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Standby letters of credit and financial guarantees (1)
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26,965 |
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18,932 |
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6,433 |
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5,505 |
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57,835 |
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Letters of credit |
2,828 |
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27 |
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5 |
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383 |
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3,243 |
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Legally binding commitments |
127,763 |
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112,137 |
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148,171 |
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57,963 |
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|
446,034 |
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Credit card lines (2)
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449,097 |
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— |
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— |
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— |
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449,097 |
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Total credit extension commitments |
$ |
576,860 |
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$ |
112,137 |
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$ |
148,171 |
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$ |
57,963 |
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$ |
895,131 |
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(1) |
The notional amounts of standby letters of credit 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 $33.4 billion and $13.0 billion at September 30, 2012, and $39.2 billion and $17.8 billion at December 31, 2011. Amounts include consumer standby letters of credit of $725 million and $859 million at September 30, 2012 and December 31, 2011.
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(2) |
Includes business card unused lines of credit. |
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