Contingent Liabilities and Guarantees (Tables)

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Guarantees

The following table shows the types of guarantees that we had outstanding at March 31, 2023. 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 “Contingencies and Guarantees” beginning on page 113 of our 2022 Form 10-K.

March 31, 2023	Maximum Potential Undiscounted Future Payments		Liability Recorded
Dollars in millions
Financial guarantees:
Standby letters of credit	$	4,838	$	90
Recourse agreement with FNMA	6,812		83
Residential mortgage reserve	3,279		13
Written put options (a)	3,725		248
Total	$	18,654	$	434

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