In the normal course of business, we have various commitments outstanding, certain of which are not included on our Consolidated Balance Sheet. The following table presents our outstanding commitments to extend credit along with other commitments as of June 30, 2025 and December 31, 2024, respectively.


In millions	June 30, 2025		December 31, 2024
Commitments to extend credit
Commercial	$	220,701	$	209,864
Home equity	23,962		24,086
Credit card	37,964		36,447
Other	7,603		7,388
Total commitments to extend credit	290,230		277,785
Net outstanding standby letters of credit (a)	11,296		11,251
Standby bond purchase agreements (b)	1,084		1,095
Other commitments (c)	5,879		4,969
Total commitments to extend credit and other commitments	$	308,489	$	295,100

(a)Net outstanding standby letters of credit that support remarketing programs were $3.7 billion at both June 30, 2025 and December 31, 2024.

(c)Includes $2.7 billion and $2.2 billion related to investments in qualified affordable housing projects at June 30, 2025 and December 31, 2024, respectively.

Commitments to extend credit, or net unfunded loan commitments, represent arrangements to lend funds or provide liquidity subject to specified contractual conditions. These commitments generally have fixed expiration dates, may require payment of a fee and generally contain termination clauses in the event the customer’s credit quality deteriorates.

We issue standby letters of credit and share in the risk of standby letters of credit issued by other financial institutions, in each case to support obligations of our customers to third parties, such as insurance requirements and the facilitation of transactions involving capital markets product execution. Approximately 97% of our net outstanding standby letters of credit were rated as Pass at June 30, 2025, with the remainder rated as Criticized. An internal credit rating of Pass indicates the expected risk of loss is currently low, while a rating of Criticized indicates a higher degree of risk.

If the customer fails to meet its financial or performance obligation to the third party under the terms of the contract or there is a need to support a remarketing program, then upon a draw by a beneficiary, subject to the terms of the letter of credit, we would be obligated to make payment to them. The standby letters of credit outstanding on June 30, 2025 had terms ranging from less than one year to 12 years.

As of June 30, 2025, assets of $1.0 billion secured certain specifically identified standby letters of credit. In addition, a portion of the remaining standby letters of credit issued on behalf of specific customers is secured by collateral or guarantees that secure the customers’ other obligations to us. The carrying amount of the liability for our obligations related to standby letters of credit and participations in standby letters of credit was $0.2 billion at June 30, 2025 and is included in Other liabilities on our Consolidated Balance Sheet.