Commitments, Contingent Liabilities and Guarantees (Tables)

6 Months Ended

Jun. 30, 2011

Summary of Significant Commitments

The Bancorp has certain commitments to make future payments under contracts. The following table reflects a summary of significant commitments as of:

($ in millions)	June 30, 2011		December 31. 2010		June 30, 2010
Commitments to extend credit	$	45,099		43,677		43,405
Letters of credit		5,096		5,516		6,212
Forward contracts to sell mortgage loans		2,210		6,389		2,707
Noncancelable lease obligations		840		869		875
Capital commitments for private equity investments		184		193		159
Purchase obligations		122		64		54
Capital expenditures		49		48		33
Capital lease obligations		19		32		42

Standby and Commercial Letters of Credit, Conditional Commitments Issued to Guarantee the Performance of a Customer to a Third Party

Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party and, as of June 30, 2011, expire as summarized in the following table:

($ in millions)
Less than 1 year(a)	$	2,079
1 - 5 years(a)		2,843
Over 5 years		174
Total	$	5,096

(a) Includes $77 and $11 issued on behalf of commercial customers to facilitate trade payments in U.S. dollars and foreign currencies which expire less than one year and between one and five years, respectively.

Credit Risk associated with Letters of Credit

Risk ratings under this risk rating system are summarized in the following table:

($ in millions)	June 30, 2011		December 31, 2010		June 30, 2010
Pass	$	4,605		4,944		5,504
Special mention		193		193		281
Substandard		288		360		420
Doubtful		9		17		6
Loss		1		2		1
Total	$	5,096		5,516		6,212

Activity in Reserve for Representation and Warranty Provisions

The following table summarizes activity in the reserve for representation and warranty provisions:  

	Three Months Ended June 30,						Six Months Ended June 30,
($ in millions)	2011			2010			2011			2010
Balance, beginning of period	$	73			66			85			37
Net additions to the reserve		6			11			14			50
Losses charged against the reserve		(19	)		(12	)		(39	)		(22	)
Balance, end of period	$	60			65			60			65