Commitments and Guarantees (Tables)

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

The following table presents the aggregate gross contractual amounts of our off-balance sheet commitments and off-balance sheet guarantees as of the dates indicated:



(In millions)	March 31, 2019		December 31, 2018
Commitments:
Unfunded credit facilities⁽¹⁾	$	29,951	$	28,951
Guarantees⁽²⁾:
Indemnified securities financing	$	387,314	$	342,337
Standby letters of credit	2,973		2,985

⁽¹⁾As of March 31, 2019, approximately 75% of our unfunded commitments to extend credit expire within one year.

⁽²⁾The potential losses associated with these guarantees equal the gross contractual amounts and do not consider the value of any collateral or reflect any participations to independent third parties.

Schedule of Repurchase Agreements

The following table summarizes the aggregate fair values of indemnified securities financing and related collateral, as well as collateral invested in indemnified repurchase agreements, as of the dates indicated:



(In millions)	March 31, 2019		December 31, 2018
Fair value of indemnified securities financing	$	387,314	$	342,337
Fair value of cash and securities held by us, as agent, as collateral for indemnified securities financing	405,299		357,893
Fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements	47,560		42,610
Fair value of cash and securities held by us or our agents as collateral for investments in indemnified repurchase agreements	50,351		45,064