Contingent Liabilities and Guarantees (Tables)

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Guarantees

The following table shows the types of guarantees that we had outstanding at June 30, 2021. 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” beginning on page 116 of our 2020 Form 10-K.

June 30, 2021	Maximum Potential Undiscounted Future Payments		Liability Recorded
in millions
Financial guarantees:
Standby letters of credit	$	3,304	$	72
Recourse agreement with FNMA	5,999		24
Residential mortgage reserve	2,850		12
Written put options (a)	3,756		34
Total	$	15,909	$	142

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