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Borrowed Funds | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Borrowed Funds | BORROWED F UNDS The following table shows the carrying value of total borrowed funds of $47.0 billion at June 30, 2020 (including adjustments related to purchase accounting, accounting hedges and unamortized original issuance discounts) by remaining contractual maturity: Table 61: Borrowed Funds
In billions |
Less than 1 year | $ | 16.1 |  |
1 to 2 years | $ | 3.6 |  |
2 to 3 years | $ | 8.9 |  |
3 to 4 years | $ | 2.8 |  |
4 to 5 years | $ | 3.2 |  |
Over 5 years | $ | 12.4 |  |
The following table presents the contractual rates and maturity dates of our FHLB borrowings, senior debt and subordinated debt as of June 30, 2020, and the carrying values as of June 30, 2020 and December 31, 2019. Table 62: FHLB Borrowings, Senior Debt and Subordinated Debt
| Stated Rate |  | Maturity |  | Carrying Value |
Dollars in millions | 2020 |  | 2020 |  | 2020 |  | 2019 |
Parent Company |  |  |  |  |  |  |  |
Senior debt | 2.20%-4.38% |  | 2020-2030 |  | $ | 10,486 |  |  | $ | 8,843 |  |
Subordinated debt | 3.90% |  | 2024 |  | 815 |  |  | 777 |  |
Junior subordinated debt | 0.92% |  | 2028 |  | 205 |  |  | 205 |  |
Subtotal |  |  |  |  | 11,506 |  |  | 9,825 |  |
Bank |  |  |  |  |  |  |  |
FHLB (a) | 0.43%-0.73% |  | 2020-2021 |  | 8,500 |  |  | 16,341 |  |
Senior debt | 0%-3.50% |  | 2020-2043 |  | 17,219 |  |  | 20,167 |  |
Subordinated debt | 2.70%-4.20% |  | 2022-2029 |  | 5,479 |  |  | 5,152 |  |
Subtotal |  |  |  |  | 31,198 |  |  | 41,660 |  |
Total |  |  |  |  | $ | 42,704 |  |  | $ | 51,485 |  |
(a) | FHLB borrowings are generally collateralized by residential mortgage loans, other mortgage-related loans and investment securities.
In Table 62, the carrying values for Parent Company senior and subordinated debt include basis adjustments of $820 million and $67 million, respectively, whereas Bank senior and subordinated debt include basis adjustments of $608 million and $496 million, respectively, related to fair value accounting hedges as of June 30, 2020. Certain borrowings are reported at fair value. Refer to Note 12 Fair Value for more information on those borrowings. For further information regarding junior subordinated debentures refer to Note 10 Borrowed Funds in our 2019 Form 10-K.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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