Commitments and contingent liabilities (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of Off-Balance Sheet Credit Risks, Net of Participations

The following table presents a summary of our off-balance sheet credit risks.

Off-balance sheet credit risks	March 31, 2020		Dec. 31, 2019
(in millions)
Lending commitments	$	47,732	$	49,119
Standby letters of credit (“SBLC”) (a)	2,328		2,298
Commercial letters of credit	113		74
Securities lending indemnifications (b)(c)	421,691		408,378

(a) Net of participations totaling $146 million at March 31, 2020 and $146 million at Dec. 31, 2019.

(b) Excludes the indemnification for securities for which BNY Mellon acts as an agent on behalf of CIBC Mellon clients, which totaled $56 billion at March 31, 2020 and $57 billion at Dec. 31, 2019.

(c)

Includes cash collateral, invested in indemnified repurchase agreements, held by us as securities lending agent of $38 billion at March 31, 2020 and $37 billion at Dec. 31, 2019.

Standby Letters of Credits by Investment Grade

The table below shows SBLCs by investment grade:

Standby letters of credit	March 31, 2020		Dec. 31, 2019
Investment grade	91	%	90	%
Non-investment grade	9	%	10	%

Summary of Credit Exposure in the Financial Institutions and Commercial Portfolios

The tables below present our credit exposure in the financial institutions and commercial portfolios.

Financial institutions portfolio exposure (in billions)	March 31, 2020
	Loans		Unfunded commitments		Total exposure
Securities industry	$	4.2	$	24.5	$	28.7
Banks	7.5		1.1		8.6
Asset managers	1.3		6.5		7.8
Insurance	0.3		2.4		2.7
Government	0.1		0.2		0.3
Other	0.8		0.6		1.4
Total	$	14.2	$	35.3	$	49.5

 

Commercial portfolio exposure (in billions)	March 31, 2020
	Loans		Unfunded commitments		Total exposure
Manufacturing	$	1.4	$	3.7	$	5.1
Services and other	1.3		2.9		4.2
Energy and utilities	0.7		3.5		4.2
Media and telecom	—		0.9		0.9
Total	$	3.4	$	11.0	$	14.4