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Variable Interest Entities | 9 Months Ended
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Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Variable Interest Entities | VARIABLE INTEREST ENTITIES Variable Interest Entities Described below are the results of BancShares’ assessment of its variable interests in order to determine its current status with regard to being the VIE PB. Refer to Note 1 — Accounting Policies and Basis of Presentation for additional information on accounting for VIEs. Consolidated VIEs At September 30, 2022 and December 31, 2021, there were no consolidated VIEs. Unconsolidated VIEs Unconsolidated VIEs include limited partnership interests and joint ventures where BancShares’ involvement is limited to an investor interest and BancShares does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance or obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The table below presents potential losses that would be incurred under hypothetical circumstances, such that the value of its interests and any associated collateral declines to zero and assuming no recovery or offset from any economic hedges. BancShares believes the possibility is remote under this hypothetical scenario; accordingly, this disclosure is not an indication of expected loss. Unconsolidated VIEs Carrying Value
dollars in millions | September 30, 2022 |  | December 31, 2021
Tax credit equity investments | $ | 563 |  |  | $ | 157 |
Equity investments | 155 |  |  | 12 |
Total assets | $ | 718 |  |  | $ | 169 |
Commitments to tax credit investments(1) | $ | 264 |  |  | $ | 43 |
Total liabilities | $ | 264 |  |  | $ | 43 |
Maximum loss exposure | $ | 718 |  |  | $ | 169 |
(1) Represents commitments to invest in affordable housing investments, and other investments qualifying for community reinvestment tax credits. These commitments are payable on demand and are recorded in other liabilities.

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
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