Commitments and Guarantees (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Guarantor Obligations

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)	September 30, 2020		December 31, 2019
Commitments:
Unfunded credit facilities(1)	$	33,736	$	29,697
Guarantees(2):
Indemnified securities financing	$	379,052	$	367,901
Standby letters of credit	3,240		3,324

⁽¹⁾ As of September 30, 2020, approximately 73% 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)	September 30, 2020		December 31, 2019
Fair value of indemnified securities financing	$	379,052	$	367,901
Fair value of cash and securities held by us, as agent, as collateral for indemnified securities financing	398,076		385,428
Fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements	49,502		45,658
Fair value of cash and securities held by us or our agents as collateral for investments in indemnified repurchase agreements	53,051		48,887