NOTE 21  COMMITMENTS AND CONTINGENCIES Litigation In the normal course of business, Old National Bancorp and its subsidiaries have been named, from time to time, as defendants in various legal actions. Certain of the actual or threatened legal actions may include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. Old National contests liability and/or the amount of damages as appropriate in each pending matter. In view of the inherent difficulty of predicting the outcome of such matters, particularly in cases where claimants seek substantial or indeterminate damages or where investigations and proceedings are in the early stages, Old National cannot predict with certainty the loss or range of loss, if any, related to such matters, how or if such matters will be resolved, when they will ultimately be resolved, or what the eventual settlement, or other relief, if any, might be. Subject to the foregoing, Old National believes, based on current knowledge and after consultation with counsel, that the outcome of such pending matters will not have a material adverse effect on the consolidated financial condition of Old National, although the outcome of such matters could be material to Old Nationals operating results and cash flows for a particular future period, depending on, among other things, the level of Old Nationals revenues or income for such period. Old National will accrue for a loss contingency if (1) it is probable that a future event will occur and confirm the loss and (2) the amount of the loss can be reasonably estimated. Old National is not currently involved in any material litigation. Credit-Related Financial Instruments In the normal course of business, Old Nationals banking affiliates have entered into various agreements to extend credit, including loan commitments of $2.982 billion and standby letters of credit of $101.3 million at June 30, 2019. At June 30, 2019, approximately $2.744 billion of the loan commitments had fixed rates and $238.4 million had floating rates, with the floating interest rates ranging from 1% to 16%. At December 31, 2018, loan commitments totaled $3.566 billion and standby letters of credit totaled $319.0 million. These commitments are not reflected in the consolidated financial statements. T he allowance for unfunded loan commitments totaled $ 2.1 million at June 30 , 201 9 and $ 2.5 million at December 31, 201 8 . Old National had credit extensions with various unaffiliated banks related to letter of credit commitments issued on behalf of Old Nationals clients totaling $9.9 million at June 30, 2019 and $15.5 million at December 31, 2018. Old National provided collateral to the unaffiliated banks to secure credit extensions totaling $7.8 million at June 30, 2019 and December 31, 2018. Old National did not provide collateral for the remaining credit extensions. Visa Class B Restricted Shares In 2008, Old National received Visa Class B restricted shares as part of Visas initial public offering. These shares are transferable only under limited circumstances until they can be converted into the publicly traded Class A common shares. This conversion will not occur until the final settlement of certain litigation for which Visa is indemnified by the holders of Visas Class B shares, including Old National. Visa funded an escrow account from its initial public offering to settle these litigation claims. Increases in litigation claims requiring Visa to fund the escrow account due to insufficient funds will result in a reduction of the conversion ratio of each Visa Class B share to unrestricted Class A shares. As of June 30, 2019, the conversion ratio was 1.6298. Based on the existing transfer restriction and the uncertainty of the outcome of the Visa litigation, the 56,210 Class B shares that Old National owns at June 30, 2019 are carried at a zero cost basis and are included in other assets with our equity securities that have no readily determinable fair value.