Commitments, Contingent Liabilities and Guarantees (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019, and December 31, 2018. 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	2019		2018
Loan commitments:
Commercial and other	$	45,323	$	42,653
Commercial real estate and construction	2,961		2,691
Home equity	9,945		9,982
Credit cards	6,560		6,152
Total loan commitments	64,789		61,478
Commercial letters of credit	91		86
Purchase card commitments	729		621
Principal investing commitments	21		26
Tax credit investment commitments	547		520
Total loan and other commitments	$	66,177	$	62,731

Guarantees

The following table shows the types of guarantees that we had outstanding at December 31, 2019. 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 “Contingencies and Guarantees.”

December 31, 2019	Maximum Potential Undiscounted Future Payments		Liability Recorded
in millions
Financial guarantees:
Standby letters of credit	$	3,303	$	72
Recourse agreement with FNMA	4,862		7
Residential mortgage reserve	1,825		7
Written put options (a)	2,446		32
Total	$	12,436	$	118

(a)

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