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Commitments, Contingencies and Guarantees (Tables)
 9 Months Ended
Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
The following table summarizes commitments associated with certain business activities (in millions):
 
Expected Maturity Date
 
 
 
2016
 
2017
 
2018
and
2019
 
2020
and
2021
 
2022
and
Later
 
Maximum
Payout 
Commitments:
 
 
 
 
 
 
 
 
 
 
 
Equity commitments (1)
$
32.9

 
$
42.3

 
$
16.4

 
$
13.9

 
$
223.5

 
$
329.0

Loan commitments (1)
—

 
317.6

 
87.2

 
54.4

 
—

 
459.2

Mortgage-related and other purchase commitments
838.0

 
263.2

 
1,265.2

 
21.6

 
—

 
2,388.0

Underwriting commitments
—

 
223.2

 
—

 
—

 
—

 
223.2

Forward starting reverse repos and repos
166.3

 
—

 
—

 
—

 
—

 
166.3

Other unfunded commitments (1)
65.8

 
142.6

 
26.8

 
5.1

 
32.3

 
272.6

 
$
1,103.0


$
988.9


$
1,395.6


$
95.0


$
255.8


$
3,838.3


(1)
Equity commitments, loan commitments and other unfunded commitments are presented by contractual maturity date.  The amounts are however mostly available on demand.
Guarantees
The following table summarizes the notional amounts associated with our derivative contracts meeting the definition of a guarantee under GAAP as of September 30, 2016 (in millions) :
 
Expected Maturity Date
 
 
Guarantee Type
2016
 
2017
 
2018
and
2019
 
2020
and
2021
 
2022
and
Later
 
Notional/
Maximum
Payout
 
 
 
 
 
 
 
 
 
 
 
 
Derivative contracts – non-credit related
$
20,564.3

 
$
5,702.8

 
$
377.9

 
$
—

 
$
437.4

 
$
27,082.4

Written derivative contracts – credit related
—

 
—

 
91.7

 
258.7

 
—

 
350.4

Total derivative contracts
$
20,564.3


$
5,702.8


$
469.6


$
258.7


$
437.4


$
27,432.8
External Credit Ratings of Underlying or Referenced Assets for Credit Related Derivatives Contracts
The external credit ratings of the underlying or referenced assets for our credit related derivatives contracts as of September 30, 2016 (in millions):
 
External Credit Rating
 
 
 
AAA/
Aaa
 
AA/
Aa
 
A
 
BBB/Baa
 
Below
Investment
Grade
 
Unrated
 
Notional/
Maximum
Payout
Credit related derivative contracts:
 
 
 
 
 

 
 
 
 
 
 
 
 
Index credit default swaps
$
24.0

 
$
—

 
$
—

 
$
83.7

 
$
—

 
$
—

 
$
107.7

Single name credit default swaps
$
—

 
$
—

 
$
59.9

 
$
38.6

 
$
144.2

 
$
—

 
$
242.7