Guarantees and Other Commitments (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2026
Standby letters of credit (1)			$	103					16,237						4,832						1,998						59						23,126						6,646
Direct pay letters of credit (1)			4						624						2,211						619						86						3,540						693
Loans and LHFS sold with recourse			85						1,415						3,622						3,523						5,970						14,530						11,181
Exchange and clearing house guarantees (2)			—						181,861						—						—						—						181,861						—
Other guarantees and indemnifications			159						4,230						1,195						1,662						3,402						10,489						869
Total guarantees			$	351					204,367						11,860						7,802						9,517						233,546						19,389
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.