Operator
Our next question will come from Glenn Schorr with Evercore ISI. Please go ahead.
Glenn Schorr, Evercore ISI
Hi, thanks very much. I wonder if we could get your best comment that you can give us on energy-related exposures? In your Q you have a general comment of energy in $20 billion. But if you could break it down a little bit more: what’s secured, what’s not secured, what’s investment grade, what’s not, and just how overall you feel your position there — it would be helpful?
Bruce Thompson, Chief Financial Officer
Sure. I think if we look at the amount of funded exposure across what we referred to as oil and gas, the amount of funded exposure which includes derivative exposure was roughly $23 billion at the end of the year. As you look at that $23 billion, I would think of it generally as 60% that’s directly reflected or affected by the price of oil. There are a lot of those that are not so you got roughly $22 billion, $23 billion funded 60% directly affected by oil. Well north of 80% of that are investment grade borrowers and for those non-investment grade borrowers, there obviously secured facilities and in most cases have formulas upon which they can borrow based on the value of the assets that were secured by.
Brian Moynihan, Chief Executive Officer
I think if you think overall and one of the things that to give a perspective that we see is in the consumer spending in January on debit and credit cards, basically we’ve seen the spend go up by 3%. And if you look at these fuel side of that, it’s about 5% of that total spending and it is down 28% year-over-year. So the people are getting a benefit — that our consumer customers are getting benefit but the re-spending that benefit and overall thing those are growing through it. So, they are competing — there is a technical risk for the oil producing companies that Bruce have talked you through. But the overall economy, even the first week or so January we’re seeing the benefit of the consumer very historically when the year-over-year comparison.
Glenn Schorr, Evercore ISI
I definitely appreciate all that. You said that was the funded to oil and gas. Is commitments a larger number, I think, than that? And do you have the ability to pull back on the commitments?
Bruce Thompson, Chief Financial Officer
Well I think on average the fundings are roughly 50% of what the commitments are, as it relates to the pulling back of commitments, I think what I would point to and what our teams did a very good job with is, we obviously have commitments in the originate to distribute piece which if we look at we ended the year I believe with two commitments of investment grade borrowers on an originate to distribute basis, one of which has had a significant positive event from a financing perspective. Already this year, the others are single A credit that will get done in the second quarter and at outside of the investment grade originate to distribute, I think there was a $200 million dollars that still needed to get done so, you’re not pulling commitments from borrowers but as it relates to commitments that needed to be distributed the teams have done a very good job.
Glenn Schorr, Evercore ISI
Okay. I don’t want to put words in your mouth, but it sounds like you are semi-comfortable with the positioning? There will be some hits along the way but this is not a major risk to the portfolio? Again, I don’t want to put words in your mouth.
Bruce Thompson, Chief Financial Officer
We’re comfortable with the positions, you should assume as we’re making these commitments in environments where oil is higher, we’re continually running and stressing those portfolios to be comfortable with the commitments. And as Brian referenced, to the extent that that were in a prolonged period where these prices persist to the extent that there are costs that run through because of difficulties that a commercial or corporate borrower may have. That as we look across the overall credit platform, you’d expect there to be offsets given what we’re seeing with consumers and other people that are benefiting from lower energy prices.
