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Commitments, Contingent Liabilities and Guarantees (Tables) | 3 Months Ended
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Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract] |
Summary of Significant Commitments | The following table reflects a summary of significant commitments as of:
($ in millions) | March 31, 2025 | December 31, 2024
Commitments to extend credit | $ | 80,272 |  | 80,680 |
Letters of credit | 1,879 |  | 1,952 |
Forward contracts related to residential mortgage loans measured at fair value | 805 |  | 881 |
Capital commitments for private equity investments | 217 |  | 219 |
Capital expenditures | 113 |  | 80 |
Purchase obligations | 20 |  | 27 |
Credit Risk Associated with Commitments | Risk ratings of outstanding commitments to extend credit under this risk rating system are summarized in the following table as of:
($ in millions) | March 31, 2025 | December 31, 2024
Pass | $ | 78,477 |  | 78,734 |
Special mention | 750 |  | 850 |
Substandard | 1,043 |  | 1,095 |
Doubtful | 2 |  | 1 |
Total commitments to extend credit | $ | 80,272 |  | 80,680 |
Standby and Commercial Letters of Credit, Conditional Commitments Issued to Guarantee the Performance of a Customer to a Third Party | Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party and expire as summarized in the following table as of March 31, 2025:
($ in millions) |
Less than 1 year(a) | $ | 963 |
1 - 5 years(a) | 911 |
Over 5 years | 5 |
Total letters of credit | $ | 1,879 |
(a)Includes $1 and $3 issued on behalf of commercial customers to facilitate trade payments in U.S. dollars and foreign currencies which expire in less than 1 year and between 1 - 5 years, respectively.
Credit Risk Associated with Letters of Credit | Risk ratings of outstanding letters of credit under this risk rating system are summarized in the following table as of:
($ in millions) | March 31, 2025 | December 31, 2024
Pass | $ | 1,741 |  | 1,779 |
Special mention | 33 |  | 60 |
Substandard | 103 |  | 110 |
Doubtful | 2 |  | 3 |
Total letters of credit | $ | 1,879 |  | 1,952 |
Visa Funding and Bancorp Cash Payments | After the Bancorp’s sale of the Class B Shares, Visa has funded additional amounts into the litigation escrow account which have resulted in further dilutive adjustments to the conversion of Class B Shares into Class A Shares, and along with other terms of the total return swap, required the Bancorp to make cash payments in varying amounts to the swap counterparty as follows:
Period ($ in millions) | Visa Funding Amount | Bancorp Cash Payment Amount
Q2 2010 | $ | 500 |  | 20 |
Q4 2010 | 800 |  | 35 |
Q2 2011 | 400 |  | 19 |
Q1 2012 | 1,565 |  | 75 |
Q3 2012 | 150 |  | 6 |
Q3 2014 | 450 |  | 18 |
Q2 2018 | 600 |  | 26 |
Q3 2019 | 300 |  | 12 |
Q4 2021 | 250 |  | 11 |
Q2 2022 | 600 |  | 25 |
Q4 2022 | 350 |  | 15 |
Q2 2023 | 500 |  | 21 |
Q3 2023 | 150 |  | 6 |
Q3 2024 | 1,500 |  | 65 |
Q1 2025 | 375 |  | (a)
(a)The Bancorp made a cash payment of $15 million to the swap counterparty on April 8, 2025 as a result of the Visa escrow funding in the first quarter of 2025.

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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