Commitments and contingent liabilities (Tables)

3 Months Ended

Mar. 31, 2012

Off-Balance Sheet Risks Significant Industry Concentrations

Significant industry concentrations related to credit exposure at March 31, 2012 are disclosed in the Financial institutions portfolio exposure table and the Commercial portfolio exposure table below.

Financial institutions portfolio exposure	March 31, 2012
(in billions)	Loans		Unfunded commitments		Total exposure
Banks	$	5.6	$	1.6	$	7.2
Securities industry		4.4		2.2		6.6
Insurance		0.1		4.3		4.4
Asset managers		0.8		3.5		4.3
Government		-		1.5		1.5
Other		0.1		1.5		1.6
Total	$	11.0	$	14.6	$	25.6
Commercial portfolio exposure	March 31, 2012
(in billions)	Loans		Unfunded commitments		Total exposure
Manufacturing	$	0.3	$	5.8	$	6.1
Energy and utilities		0.3		4.9		5.2
Services and other		0.5		4.4		4.9
Media and telecom		0.1		1.5		1.6
Total	$	1.2	$	16.6	$	17.8

Summary of Off-Balance Sheet Credit Transactions, Net of Participations

The following table presents a summary of our off-balance sheet credit risks, net of participations.

Off-balance sheet credit risks (in millions)	March 31, 2012		Dec 31, 2011
Lending commitments (a)	$	28,737	$	28,406
Standby letters of credit (b)		6,399		6,707
Commercial letters of credit		294		437
Securities lending indemnifications		264,934		268,812
Support agreements		70		63

(a) Net of participations totaling $304 million at March 31, 2012 and $326 million at Dec. 31, 2011.

(b) Net of participations totaling $1.1 billion at March 31, 2012 and $1.2 billion at Dec. 31, 2011.

Standby Letters of Credits (SBLCs) by Investment Grade

The table below shows SBLCs by investment grade:

Standby letters of credit	March 31, 2012			Dec. 31, 2011
Investment grade		90	%		91	%
Noninvestment grade		10	%		9	%