Guarantees and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Contract or Notional Amounts of Unfunded Commitments to Extend Credit

The contract or notional amounts of unfunded commitments to extend credit at December 31, 2023, excluding those commitments considered derivatives, were as follows:

	Term
(Dollars in Millions)	Less Than One Year		Greater Than One Year		Total
Commercial and commercial real estate loans	$	43,385	$	137,155	$	180,540
Corporate and purchasing card loans(a)	34,943		—		34,943
Residential mortgages	114		—		114
Retail credit card loans(a)	134,297		—		134,297
Other retail loans	15,616		27,430		43,046
Other	7,585		—		7,585

(a)Primarily cancellable at the Company’s discretion.

Summary of Other Guarantees and Contingent Liabilities

The following table is a summary of other guarantees and contingent liabilities of the Company at December 31, 2023:

(Dollars in Millions)	Collateral Held		Carrying Amount		Maximum Potential Future Payments
Standby letters of credit	$	—	$	20	$	10,999
Third party borrowing arrangements	—		—		5
Securities lending indemnifications	6,924		—		6,679
Asset sales	—		106		10,263
Merchant processing	815		71		140,288
Tender option bond program guarantee	607		—		589
Other	—		21		2,696

Contract or Notional Amount of Letters of Credit

The contract or notional amount of letters of credit at December 31, 2023, were as follows:

	Term
(Dollars in Millions)	Less Than One Year		Greater Than One Year		Total
Standby	$	6,444	$	4,555	$	10,999
Commercial	559		59		618