Guarantees, Pledged Assets and Collateral (Tables)

12 Months Ended

Dec. 31, 2012



			December 31,
			2012			2011
				Maximum exposure to loss			Maximum exposure to loss
					Non-			Non-
			Carrying		investment	Carrying		investment
(in millions)			value	Total	grade	value	Total	grade (1)
Standby letters of credit (2)		$	42	39,759	11,331	85	41,171	13,250
Securities lending and other indemnifications			-	2,541	118	-	669	62
Liquidity agreements (3)			-	3	3	-	2	2
Written put options (3)(4)			1,427	11,874	3,953	1,469	8,224	2,466
Loans and MHFS sold with recourse			99	5,873	3,905	102	5,784	3,850
Residual value guarantees			-	-	-	8	197	-
Contingent consideration			35	129	129	31	98	97
Other guarantees			3	1,421	4	6	552	4
	Total guarantees	$	1,606	61,600	19,443	1,701	56,697	19,731

Amounts have been revised from what was previously reported to reflect better alignment of our internal rating process to external noninvestment grade ratings.
Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $18.5 billion and $19.7 billion at December 31, 2012 and 2011, respectively. We issue DPLCs to provide credit enhancements for certain bond issuances. Beneficiaries (bond trustees) may draw upon these instruments to make scheduled principal and interest payments, redeem all outstanding bonds because a default event has occurred, or for other reasons as permitted by the agreement. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility in one of several forms, including as a standby letter of credit. Total maximum exposure to loss includes the portion of these facilities for which we have issued standby letters of credit under the commitments.
Certain of these agreements included in this table are related to off-balance sheet entities and, accordingly, are also disclosed in Note 8.
Written put options, which are in the form of derivatives, are also included in the derivative disclosures in Note 16.

Significant Components of Assets Pledged



			December 31,
(in millions)				2012	2011
	Securities available for sale		$	96,018	80,540
	Loans			360,171	317,742
		Total	$	456,189	398,282

- Definition

Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities.

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- 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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