Guarantees and Other Commitments (Tables)

3 Months Ended

Mar. 31, 2026

Guarantees [Abstract]

Guarantees – Carrying Value and Maximum Exposure to Loss

Table 13.1 shows carrying value and maximum exposure to loss on our guarantees.

Table 13.1: Guarantees – Carrying Value and Maximum Exposure to Loss


									Maximum exposure to loss
(in millions)			Carrying value of obligation						Expires in one year or less						Expires after one year through three years						Expires after three years through five years						Expires after five years						Total						Non-investment grade
March 31, 2026
Standby letters of credit (1)			$	102					15,414						5,306						1,727						13						22,460						7,365
Direct pay letters of credit (1)			4						552						1,953						633						87						3,225						567
Loans and LHFS sold with recourse			90						1,461						3,392						3,609						6,094						14,556						11,123
Exchange and clearing house guarantees (2)			—						125,830						—						—						—						125,830						—
Other guarantees and indemnifications			93						3,489						1,195						1,500						2,829						9,013						903
Total guarantees			$	289					146,746						11,846						7,469						9,023						175,084						19,958
December 31, 2025
Standby letters of credit (1)			$	98					13,967						6,550						1,814						15						22,346						7,315
Direct pay letters of credit (1)			5						588						1,836						353						88						2,865						488
Loans and LHFS sold with recourse			91						1,362						3,214						3,385						6,378						14,339						10,910
Exchange and clearing house guarantees (2)			—						98,106						—						—						—						98,106						—
Other guarantees and indemnifications			69						4,418						1,521						370						1,663						7,972						979
Total guarantees			$	263					118,441						13,121						5,922						8,144						145,628						19,692

(1)Standby and direct pay letters of credit are reported net of syndications and participations.

(2)Substantially all relates to sponsored resale and repurchase activity.