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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit Extension Commitment Expirations The table below includes the notional amount of commitments of $3.1 billion and $3.0 billion at March 31, 2023 and December 31, 2022 that are accounted for under the fair value option. However, the table excludes the cumulative net fair value for these commitments of $122 million and $110 million at March 31, 2023 and December 31, 2022, 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, 2023
Notional amount of credit extension commitments     
Loan commitments (1)
$117,267 $160,450 $219,304 $15,920 $512,941 
Home equity lines of credit1,667 7,986 11,652 22,660 43,965 
Standby letters of credit and financial guarantees (2)
22,417 9,328 2,755 528 35,028 
Letters of credit963 32 42 26 1,063 
Other commitments (3)
3 68 137 1,059 1,267 
Legally binding commitments142,317 177,864 233,890 40,193 594,264 
Credit card lines (4)
429,384    429,384 
Total credit extension commitments$571,701 $177,864 $233,890 $40,193 $1,023,648 
 December 31, 2022
Notional amount of credit extension commitments     
Loan commitments (1)
$113,962 $162,890 $221,374 $13,667 $511,893 
Home equity lines of credit1,479 7,230 11,578 22,154 42,441 
Standby letters of credit and financial guarantees (2)
22,565 9,237 2,787 628 35,217 
Letters of credit853 46 52 49 1,000 
Other commitments (3)
93 71 1,103 1,272 
Legally binding commitments138,864 179,496 235,862 37,601 591,823 
Credit card lines (4)
419,144 — — — 419,144 
Total credit extension commitments$558,008 $179,496 $235,862 $37,601 $1,010,967 
(1)     At March 31, 2023 and December 31, 2022, $2.9 billion and $2.6 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 $25.0 billion and $9.4 billion at March 31, 2023, and $25.1 billion and $9.5 billion at December 31, 2022. Amounts in the table include consumer SBLCs of $563 million and $575 million at March 31, 2023 and December 31, 2022.
(3)     Primarily includes second-loss positions on lease-end residual value guarantees.
(4)     Includes business card unused lines of credit.