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Off-Balance Sheet Arrangements, Guarantees and Other Commitments (Tables)
9 Months Ended
Sep. 30, 2020
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract]  
Summary Information Related to Commitments to Extend Credit (Excluding Letters of Credit)
The following table summarizes information related to our commitments to extend credit at September 30, 2020 and December 31, 2019:
(Dollars in thousands)September 30, 2020December 31, 2019
Loan commitments available for funding: (1)
Fixed interest rate commitments$2,474,804 $2,434,042 
Variable interest rate commitments24,796,923 19,309,317 
Total loan commitments available for funding27,271,727 21,743,359 
Commercial and standby letters of credit (2)3,058,069 2,778,561 
Total unfunded credit commitments$30,329,796 $24,521,920 
Commitments unavailable for funding (3)$2,519,517 $3,051,075 
Allowance for unfunded credit commitments (4)101,515 67,656 
(1)Represents commitments which are available for funding, due to clients meeting all collateral, compliance and financial covenants required under loan commitment agreements.
(2)See below for additional information on our commercial and standby letters of credit.
(3)Represents commitments which are currently unavailable for funding due to clients failing to meet all collateral, compliance and financial covenants under loan commitment agreements.
(4)Our allowance for credit losses for unfunded credit commitments includes an allowance for both our unfunded loan commitments and our letters of credit.
Summary of Commercial and Standby Letters of Credit
The table below summarizes our commercial and standby letters of credit at September 30, 2020. The maximum potential amount of future payments represents the amount that could be remitted under letters of credit if there were a total default by the guaranteed parties, without consideration of possible recoveries under recourse provisions or from the collateral held or pledged.
(Dollars in thousands)Expires in One
Year or Less
Expires After
One Year
Total Amount
Outstanding
Maximum Amount
of Future Payments
Financial standby letters of credit$2,838,280 $90,452 $2,928,732 $2,928,732 
Performance standby letters of credit109,224 18,057 127,281 127,281 
Commercial letters of credit2,056 — 2,056 2,056 
Total$2,949,560 $108,509 $3,058,069 $3,058,069 
Total Capital Commitments, Unfunded Capital Commitments, and Ownership in Each Fund The following table details our total capital commitments, unfunded capital commitments, and our ownership percentage in each fund at September 30, 2020:
(Dollars in thousands)SVBFG Capital Commitments    SVBFG Unfunded    
Commitments
SVBFG Ownership  
of each Fund (3)
CP I, LP$6,000 $270 10.7 %
CP II, LP (1)1,200 162 5.1 
Capital Preferred Return Fund, LP12,688 — 20.0 
Growth Partners, LP24,670 1,340 33.0 
Strategic Investors Fund, LP15,300 688 12.6 
Strategic Investors Fund II, LP15,000 1,050 8.6 
Strategic Investors Fund III, LP15,000 1,275 5.9 
Strategic Investors Fund IV, LP12,239 2,325 5.0 
Strategic Investors Fund V funds515 131 Various
Other venture capital and private equity fund investments (equity method accounting)
25,197 6,258 Various
Debt funds (equity method accounting)58,733 240 Various
Other fund investments (2)278,339 5,614 Various
Total$464,881 $19,353 
(1)Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investment in Strategic Investors Fund II, LP.
(2)Represents commitments to 185 funds (primarily venture capital funds) where our ownership interest is generally less than five percent of the voting interests of each such fund.
(3)We are subject to the Volcker Rule, which restricts investments in “covered funds”. Under revised regulations that became effective on October 1, 2020, venture capital and credit funds that meet certain criteria will no longer be considered covered funds. We believe that, as a result of these changes, we will not be required to sell or otherwise conform certain of our fund investments. See the “Volcker Rule” section under Part I, Item 2 of this report for additional details.
Remaining Unfunded Commitments to Venture Capital or Private Equity Funds by Consolidated Managed Funds
The following table details the amounts of remaining unfunded commitments to venture capital and private equity funds by our consolidated managed funds of funds (including our interest and the noncontrolling interests) at September 30, 2020:
(Dollars in thousands)Unfunded Commitments    
Strategic Investors Fund, LP$376 
Capital Preferred Return Fund, LP1,517 
Growth Partners, LP2,513 
Total$4,406