Commitments and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated:



	March 31, 2020					December 31, 2019
	Amount (in millions)			% of Total		Amount (in millions)			% of Total
Commercial mortgage and agricultural property loans by property type:
Office	$	12,908		20.6	%	$	13,462		21.4	%
Retail	7,967			12.7		8,379			13.3
Apartments/Multi-Family	18,171			28.9		17,348			27.6
Industrial	13,217			21.0		13,226			21.1
Hospitality	2,401			3.8		2,415			3.9
Other	4,503			7.2		4,533			7.2
Total commercial mortgage loans	59,167			94.2		59,363			94.5
Agricultural property loans	3,665			5.8		3,472			5.5
Total commercial mortgage and agricultural property loans by property type	62,832			100.0	%	62,835			100.0	%
Allowance for credit losses	(233		)			(117		)
Total net commercial mortgage and agricultural property loans by property type	62,599					62,718
Other loans:
Uncollateralized loans	660					656
Residential property loans	115					124
Other collateralized loans	192					65
Total other loans	967					845
Allowance for credit losses	(7		)			(4		)
Total net other loans	960					841
Total commercial mortgage and other loans(1)	$	63,559				$	63,559

__________


(1)	Includes loans held for sale which are carried at fair value and are collateralized primarily by apartment complexes. As of March 31, 2020 and December 31, 2019, the net carrying value of these loans was $670 million and $228 million, respectively.

Commercial Mortgage Loan Commitments



	March 31, 2020		December 31, 2019
	(in millions)
Total outstanding mortgage loan commitments	$	2,137	$	2,129
Portion of commitment where prearrangement to sell to investor exists	$	837	$	751



	March 31, 2020		December 31, 2019
	(in millions)
Expected to be funded from the general account and other operations outside the separate accounts	$	6,729	$	7,372
Expected to be funded from separate accounts	$	124	$	49



	March 31, 2020		December 31, 2019
	(in millions)
Indemnification provided to certain clients for securities lending and securities repurchase transactions(1)	$	5,244	$	5,071
Fair value of related collateral associated with above indemnifications(2)	$	5,360	$	5,204
Accrued liability associated with guarantee	$	0	$	0

__________


(1)	Includes $39 million and $38 million related to securities repurchase transactions as of March 31, 2020 and December 31, 2019, respectively.

(2)

Includes $38 million and $37 million related to securities repurchase transactions as of March 31, 2020 and December 31, 2019, respectively.

Indemnification of Serviced Mortgage Loans



	March 31, 2020		December 31, 2019
	(in millions)
Maximum exposure under indemnification agreements for mortgage loans serviced by the Company	$	2,154	$	2,113
First-loss exposure portion of above	$	633	$	622
Accrued liability associated with guarantees	$	17	$	19

Guarantees of Asset Values



	March 31, 2020		December 31, 2019
	(in millions)
Guaranteed value of third-parties’ assets	$	80,984	$	80,009
Fair value of collateral supporting these assets	$	83,568	$	81,604
Asset (liability) associated with guarantee, carried at fair value	$	1	$	1

Other Guarantees



	March 31, 2020		December 31, 2019
	(in millions)
Other guarantees where amount can be determined	$	54	$	55
Accrued liability for other guarantees and indemnifications	$	0	$	0