Contingent Liabilities and Guarantees (Tables)

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Guarantees

The following table shows the types of guarantees that we had outstanding at March 31, 2019. 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 “Guarantees” beginning on page 106 of our 2018 Form 10-K.

March 31, 2019	Maximum Potential Undiscounted Future Payments		Liability Recorded
in millions
Financial guarantees:
Standby letters of credit	$	3,112	$	76
Recourse agreement with FNMA	4,185		6
Residential mortgage reserve	1,576		6
Written put options (a)	3,065		46
Total	$	11,938	$	134

(a)

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