Commitments, Contingent Liabilities and Guarantees (Tables)

12 Months Ended

Dec. 31, 2012

Commitments to Extend Credit or Funding

The following table shows the remaining contractual amount of each class of commitment related to extending credit or funding principal investments as of December 31, 2012, and 2011. For loan commitments and commercial letters of credit, this amount represents our maximum possible accounting loss if the borrower were to draw upon the full amount of the commitment and subsequently default on payment for the total amount of the outstanding loan.

December 31, in millions	2012		2011
Loan commitments:
Commercial and other	$	20,804	$	19,813
Commercial real estate and construction		1,537		7,366
Home equity		7,255		1,256
Credit cards		3,611		—
Total loan commitments		33,207		28,435
When-issued and to be announced securities commitments		96		117
Commercial letters of credit		100		124
Principal investing commitments		94		123
Liabilities of certain limited partnerships and other commitments		5		115
Total loan and other commitments	$	33,502	$	28,914

Guarantees

The following table shows the types of guarantees that we had outstanding at December 31, 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.”

December 31, 2012 in millions	Maximum Potential Undiscounted Future Payments		Liability Recorded
Financial guarantees:
Standby letters of credit	$	10,530	$	53
Recourse agreement with FNMA		1,158		7
Return guarantee agreement with LIHTC investors		20		20
Written put options (a)		2,017		48
Default guarantees		50		1
Total	$	13,775	$	129

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