Guarantees and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021, 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	$	40,385	$	118,879	$	159,264
Corporate and purchasing card loans(a)		30,263		–		30,263
Residential mortgages		613		1		614
Retail credit card loans(a)		120,905		–		120,905
Other retail loans		14,924		22,905		37,829
Other		6,268		–		6,268

(a) Primarily cancelable 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, 2021:

(Dollars in Millions)	Collateral Held		Carrying Amount		Maximum Potential Future Payments
Standby letters of credit	$	–	$	57	$	9,605
Third party borrowing arrangements		–		–		3
Securities lending indemnifications		9,074		–		8,807
Asset sales		–		84		7,229
Merchant processing		777		140		120,417
Tender option bond program guarantee		1,725		–		1,488
Other		–		21		1,398

Contract or Notional Amount of Letters of Credit

The contract or notional amount of letters of credit at December 31, 2021, were as follows:

	Term
(Dollars in Millions)	Less Than One Year		Greater Than One Year		Total
Standby	$	4,760	$	4,845	$	9,605
Commercial		889		22		911