diff --git a/Lib/test/test_unicode.py b/Lib/test/test_unicode.py
index 19b06a0..000ae6a 100644
--- a/Lib/test/test_unicode.py
+++ b/Lib/test/test_unicode.py
@@ -906,6 +906,21 @@
         self.assertRaises(ValueError, '{}'.format_map, 'a')
         self.assertRaises(ValueError, '{a} {}'.format_map, {"a" : 2, "b" : 1})
 
+    def test_format_huge_precision(self):
+        format_string = ".{}f".format(sys.maxsize + 1)
+        with self.assertRaises(ValueError):
+            result = format(2.34, format_string)
+
+    def test_format_huge_width(self):
+        format_string = "{}f".format(sys.maxsize + 1)
+        with self.assertRaises(ValueError):
+            result = format(2.34, format_string)
+
+    def test_format_huge_item_number(self):
+        format_string = "{{{}:.6f}}".format(sys.maxsize + 1)
+        with self.assertRaises(ValueError):
+            result = format_string.format(2.34)
+
     def test_format_auto_numbering(self):
         class C:
             def __init__(self, x=100):
@@ -990,6 +1005,18 @@
         self.assertEqual('%f' % INF, 'inf')
         self.assertEqual('%F' % INF, 'INF')
 
+    @support.cpython_only
+    def test_formatting_huge_precision(self):
+        from _testcapi import INT_MAX
+        format_string = "%.{}f".format(INT_MAX + 1)
+        with self.assertRaises(ValueError):
+            result = format_string % 2.34
+
+    def test_formatting_huge_width(self):
+        format_string = "%{}f".format(sys.maxsize + 1)
+        with self.assertRaises(ValueError):
+            result = format_string % 2.34
+
     def test_startswith_endswith_errors(self):
         for meth in ('foo'.startswith, 'foo'.endswith):
             with self.assertRaises(TypeError) as cm:
diff --git a/Misc/NEWS b/Misc/NEWS
index 6c306d8..f2ba982 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -10,6 +10,9 @@
 Core and Builtins
 -----------------
 
+- Issue #14700: Fix buggy overflow checks when handling large precisions and
+  widths in old-style and new-style formatting.
+
 - Issue #6074: Ensure cached bytecode files can always be updated by the
   user that created them, even when the source file is read-only.
 
diff --git a/Objects/stringlib/formatter.h b/Objects/stringlib/formatter.h
index 4fdc62d..139b56c 100644
--- a/Objects/stringlib/formatter.h
+++ b/Objects/stringlib/formatter.h
@@ -73,7 +73,7 @@
 get_integer(STRINGLIB_CHAR **ptr, STRINGLIB_CHAR *end,
                   Py_ssize_t *result)
 {
-    Py_ssize_t accumulator, digitval, oldaccumulator;
+    Py_ssize_t accumulator, digitval;
     int numdigits;
     accumulator = numdigits = 0;
     for (;;(*ptr)++, numdigits++) {
@@ -83,19 +83,17 @@
         if (digitval < 0)
             break;
         /*
-           This trick was copied from old Unicode format code.  It's cute,
-           but would really suck on an old machine with a slow divide
-           implementation.  Fortunately, in the normal case we do not
-           expect too many digits.
+           Detect possible overflow before it happens:
+
+              accumulator * 10 + digitval > PY_SSIZE_T_MAX if and only if
+              accumulator > (PY_SSIZE_T_MAX - digitval) / 10.
         */
-        oldaccumulator = accumulator;
-        accumulator *= 10;
-        if ((accumulator+10)/10 != oldaccumulator+1) {
+        if (accumulator > (PY_SSIZE_T_MAX - digitval) / 10) {
             PyErr_Format(PyExc_ValueError,
                          "Too many decimal digits in format string");
             return -1;
         }
-        accumulator += digitval;
+        accumulator = accumulator * 10 + digitval;
     }
     *result = accumulator;
     return numdigits;
diff --git a/Objects/stringlib/string_format.h b/Objects/stringlib/string_format.h
index 6c7adcb..c46bdc2 100644
--- a/Objects/stringlib/string_format.h
+++ b/Objects/stringlib/string_format.h
@@ -197,7 +197,6 @@
 {
     Py_ssize_t accumulator = 0;
     Py_ssize_t digitval;
-    Py_ssize_t oldaccumulator;
     STRINGLIB_CHAR *p;
 
     /* empty string is an error */
@@ -209,19 +208,17 @@
         if (digitval < 0)
             return -1;
         /*
-           This trick was copied from old Unicode format code.  It's cute,
-           but would really suck on an old machine with a slow divide
-           implementation.  Fortunately, in the normal case we do not
-           expect too many digits.
+           Detect possible overflow before it happens:
+
+              accumulator * 10 + digitval > PY_SSIZE_T_MAX if and only if
+              accumulator > (PY_SSIZE_T_MAX - digitval) / 10.
         */
-        oldaccumulator = accumulator;
-        accumulator *= 10;
-        if ((accumulator+10)/10 != oldaccumulator+1) {
+        if (accumulator > (PY_SSIZE_T_MAX - digitval) / 10) {
             PyErr_Format(PyExc_ValueError,
                          "Too many decimal digits in format string");
             return -1;
         }
-        accumulator += digitval;
+        accumulator = accumulator * 10 + digitval;
     }
     return accumulator;
 }
diff --git a/Objects/unicodeobject.c b/Objects/unicodeobject.c
index 1dd3a85..3ef9c9b 100644
--- a/Objects/unicodeobject.c
+++ b/Objects/unicodeobject.c
@@ -9648,7 +9648,7 @@
                     c = *fmt++;
                     if (c < '0' || c > '9')
                         break;
-                    if ((width*10) / 10 != width) {
+                    if (width > (PY_SSIZE_T_MAX - ((int)c - '0')) / 10) {
                         PyErr_SetString(PyExc_ValueError,
                                         "width too big");
                         goto onError;
@@ -9683,7 +9683,7 @@
                         c = *fmt++;
                         if (c < '0' || c > '9')
                             break;
-                        if ((prec*10) / 10 != prec) {
+                        if (prec > (INT_MAX - ((int)c - '0')) / 10) {
                             PyErr_SetString(PyExc_ValueError,
                                             "prec too big");
                             goto onError;