Contingent Liabilities and Guarantees (Tables)

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Guarantees

The following table shows the types of guarantees that we had outstanding at September 30, 2018. Information pertaining to the basis for determining the liabilities recorded in connection with these guarantees is included in Note 1 (“Summary of Significant Accounting Policies”) under the heading “Guarantees” beginning on page 108 of our 2017 Form 10-K.

September 30, 2018	Maximum Potential Undiscounted Future Payments		Liability Recorded
in millions
Financial guarantees:
Standby letters of credit	$	3,097	$	71
Recourse agreement with FNMA	3,750		7
Residential mortgage reserve	1,500		6
Return guarantee agreement with LIHTC investors	2		2
Written put options (a)	2,346		82
Total	$	10,695	$	168

(a)

The maximum potential undiscounted future payments represent notional amounts of derivatives qualifying as guarantees.