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Commitments and contingent liabilities (Tables)
 9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Summary of Off-Balance Sheet Credit Risks, Net of Participations
The following table presents a summary of our off-balance sheet credit risks.

Off-balance sheet credit risksSept. 30, 2020Dec. 31, 2019
(in millions)
Lending commitments$47,658 $49,119 
Standby letters of credit (“SBLC”) (a)
2,175 2,298 
Commercial letters of credit87 74 
Securities lending indemnifications (b)(c)
414,324 408,378 
(a)Net of participations totaling $145 million at Sept. 30, 2020 and $146 million at Dec. 31, 2019.
(b)Excludes the indemnification for securities for which BNY Mellon acts as an agent on behalf of CIBC Mellon clients, which totaled $58 billion at Sept. 30, 2020 and $57 billion at Dec. 31, 2019.
(c)Includes cash collateral, invested in indemnified repurchase agreements, held by us as securities lending agent of $43 billion at Sept. 30, 2020 and $37 billion at Dec. 31, 2019.
Standby Letters of Credits by Investment Grade The table below shows SBLCs by investment grade:
Standby letters of creditSept. 30, 2020Dec. 31, 2019
Investment grade87 %90 %
Non-investment grade13 %10 %
Summary of Credit Exposure in the Financial Institutions and Commercial Portfolios The tables below present our credit exposure in the financial institutions and commercial portfolios.
Financial institutions
portfolio exposure
(in billions)
Sept. 30, 2020
LoansUnfunded
commitments		Total exposure
Securities industry$2.8 $22.3 $25.1 
Asset managers1.2 6.5 7.7 
Banks6.1 1.1 7.2 
Insurance0.1 2.7 2.8 
Government0.1 0.2 0.3 
Other0.7 0.7 1.4 
Total$11.0 $33.5 $44.5 
Commercial portfolio
exposure
(in billions)
Sept. 30, 2020
LoansUnfunded
commitments		Total exposure
Services and other$1.0 $3.5 $4.5 
Manufacturing0.7 3.8 4.5 
Energy and utilities0.2 4.0 4.2 
Media and telecom— 0.9 0.9 
Total$1.9 $12.2 $14.1