Commitments, Contingent Liabilities and Guarantees (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments to Extend Credit or Funding

The following table shows the remaining contractual amount of each class of commitment related to extending credit or funding principal investments as of December 31, 2018, and December 31, 2017. For loan commitments and commercial letters of credit, this amount represents our maximum possible accounting loss on the unused commitment if the borrower were to draw upon the full amount of the commitment and subsequently default on payment for the total amount of the then outstanding loan.

December 31, in millions	2018		2017
Loan commitments:
Commercial and other	$	42,653	$	40,315
Commercial real estate and construction	2,691		2,774
Home equity	9,982		9,673
Credit cards	6,152		5,890
Total loan commitments	61,478		58,652
Commercial letters of credit	86		231
Purchase card commitments	621		425
Principal investing commitments	26		29
Tax credit investment commitments	520		481
Securities underwriting	—		9
Total loan and other commitments	$	62,731	$	59,827

Guarantees

The following table shows the types of guarantees that we had outstanding at December 31, 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.”

December 31, 2018	Maximum Potential Undiscounted Future Payments		Liability Recorded
in millions
Financial guarantees:
Standby letters of credit	$	3,137	$	72
Recourse agreement with FNMA	4,082		6
Residential mortgage reserve	1,549		6
Return guarantee agreement with LIHTC investors	2		2
Written put options (a)	2,345		88
Total	$	11,115	$	174

(a)

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