Contingent Liabilities and Guarantees (Tables)

9 Months Ended

Sep. 30, 2012

We are a guarantor in various agreements with third parties. The following table shows the types of guarantees that we had outstanding at September 30, 2012. 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” on page 177 of our 2011 Annual Report on Form 10-K.


September 30, 2012 in millions	Maximum Potential Undiscounted Future Payments		Liability Recorded

Financial guarantees:
Standby letters of credit	$	10,377	$	52
Recourse agreement with FNMA		1,003		7
Return guarantee agreement with LIHTC investors		43		43
Written put options ^(a)		2,003		50
Default guarantees		3		1

Total	$	13,429	$	153

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

- Definition

Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

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