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Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations The following table includes the notional amount of commitments of $4.6 billion and $4.0 billion at March 31, 2021 and December 31, 2020 that are accounted for under the fair value option. However, the table excludes cumulative net fair value of $91 million and $99 million at March 31, 2021 and December 31, 2020 on these commitments, which is classified in accrued expenses and other liabilities. For more information regarding the Corporation’s loan commitments accounted for under the fair value option, see Note 15 – Fair Value Option.
Credit Extension Commitments
Expire in One
Year or Less		Expire After One
Year Through
Three Years		Expire After Three Years Through
Five Years		Expire After
Five Years		Total
(Dollars in millions)March 31, 2021
Notional amount of credit extension commitments     
Loan commitments (1)
$105,390 $193,141 $142,512 $21,027 $462,070 
Home equity lines of credit733 3,354 9,451 28,109 41,647 
Standby letters of credit and financial guarantees (2)
21,989 9,960 2,097 1,268 35,314 
Letters of credit (3)
1,097 176 32 22 1,327 
Legally binding commitments129,209 206,631 154,092 50,426 540,358 
Credit card lines (4)
388,922 — — — 388,922 
Total credit extension commitments$518,131 $206,631 $154,092 $50,426 $929,280 
 December 31, 2020
Notional amount of credit extension commitments     
Loan commitments (1)
$109,406 $171,887 $139,508 $16,091 $436,892 
Home equity lines of credit710 2,992 8,738 29,892 42,332 
Standby letters of credit and financial guarantees (2)
19,962 12,038 2,397 1,257 35,654 
Letters of credit (3)
886 197 25 27 1,135 
Legally binding commitments130,964 187,114 150,668 47,267 516,013 
Credit card lines (4)
384,955 — — — 384,955 
Total credit extension commitments$515,919 $187,114 $150,668 $47,267 $900,968 
(1)     At both March 31, 2021 and December 31, 2020, $4.8 billion of these loan commitments were held in the form of a security.
(2)     The notional amounts of SBLCs and financial guarantees classified as investment grade and non-investment grade based on the credit quality of the underlying reference name within the instrument were $25.2 billion and $9.6 billion at March 31, 2021, and $25.0 billion and $10.2 billion at December 31, 2020. Amounts in the table include consumer SBLCs of $481 million and $500 million at March 31, 2021 and December 31, 2020.
(3)     At both March 31, 2021 and December 31, 2020, included are letters of credit of $1.8 billion related to certain liquidity commitments of VIEs. For more information, see Note 6 – Securitizations and Other Variable Interest Entities.
(4)    Includes business card unused lines of credit.