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Commitments, Guarantees, and Contingent Liabilities (Tables)
6 Months Ended
Jun. 30, 2024
Commitments, Guarantees, and Contingent Liabilities [Abstract]  
Schedule of Off Balance Sheet Financial Instruments
The following schedule presents the contractual amounts related to off-balance sheet financial instruments used to meet the financing needs of our customers:
(In millions)June 30,
2024
December 31,
2023
Unfunded lending commitments 1
$28,295 $28,940 
Standby letters of credit:
Financial564 548 
Performance237 206 
Commercial letters of credit26 22 
Mortgage-backed security purchase agreements 2
— 66 
Total unfunded commitments$29,122 $29,782 
1 Net of participations.
2 Represents agreements with Farmer Mac to purchase securities backed by certain agricultural mortgage loans.