Guarantees and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014, 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	$	24,161	$	89,108	$	113,269
Corporate and purchasing cards(a)		21,301		–		21,301
Residential mortgages		70		14		84
Retail credit cards(a)		78,578		190		78,768
Other retail		12,217		19,276		31,493
Covered		–		667		667
Federal funds		5,258		–		5,258

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

Future Minimum Payments Under Capital Leases and Noncancelable Operating Leases

Future minimum payments, net of sublease rentals, under capitalized leases and noncancelable operating leases with initial or remaining terms of one year or more, consisted of the following at December 31, 2014:

(Dollars in Millions)	Capitalized Leases		Operating Leases
2015	$	13	$	265
2016		12		238
2017		10		206
2018		10		166
2019		8		134
Thereafter		34		503
Total minimum lease payments		87	$	1,512
Less amount representing interest		31
Present value of net minimum lease payments	$	56

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, 2014:

(Dollars in Millions)	Collateral Held		Carrying Amount		Maximum Potential Future Payments
Standby letters of credit	$	–	$	58	$	14,838
Third party borrowing arrangements		–		–		10
Securities lending indemnifications		4,649		–		4,514
Asset sales		–		145		4,271
Merchant processing		522		58		89,652
Contingent consideration arrangements		–		2		2
Tender option bond program guarantee		2,870		–		2,719
Minimum revenue guarantees		–		6		6
Other		–		–		502

Contract or Notional Amount of Letters of Credit

The contract or notional amount of letters of credit at December 31, 2014, were as follows:

	Term
(Dollars in Millions)	Less Than One Year		Greater Than One Year		Total
Standby	$	6,757	$	8,081	$	14,838
Commercial		354		53		407

Representation and Warranty Reserve Rollforward

The following table is a rollforward of the Company’s representation and warranty reserve:

Year Ended December 31 (Dollars in Millions)	2014			2013			2012
Balance at beginning of period	$	83		$	240		$	160
Net realized losses		(28	)		(115	)		(120	)
Change in reserve		(9	)		(42	)		200
Balance at end of period	$	46		$	83		$	240