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Borrowed Funds | 3 Months Ended
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Mar. 31, 2023
Debt Disclosure [Abstract] |
Borrowed Funds | BORROWED F UNDSThe following table shows the carrying value of total borrowed funds at March 31, 2023 (including adjustments related to accounting hedges, purchase accounting and unamortized original issuance discounts) by remaining contractual maturity: Table 57: Borrowed Funds
In millions
Less than 1 year | $ | 5,423 |
1 to 2 years | 23,403 |
2 to 3 years | 13,230 |
3 to 4 years | 3,924 |
4 to 5 years | 2,341 |
Over 5 years | 12,512 |
Total | $ | 60,833 |
The following table presents the contractual rates and maturity dates of our FHLB borrowings, senior debt and subordinated debt as of March 31, 2023, and the carrying values as of March 31, 2023 and December 31, 2022. Table 58: FHLB Borrowings, Senior Debt and Subordinated Debt
| Stated Rate |  | Maturity |  | Carrying Value |
Dollars in millions | 2023 |  | 2023 |  | 2023 |  | 2022 |
Parent Company |  |  |  |  |  |  |  |
Senior debt | 1.15% - 6.04% |  | 2024-2034 |  | $ | 14,287 |  |  | $ | 11,374 |  |
Subordinated debt | 3.90% - 4.63% |  | 2024-2033 |  | 1,549 |  |  | 1,524 |  |
Junior subordinated debt | 5.53 | % |  | 2028 |  | 205 |  |  | 205 |  |
Total Parent Company |  |  |  |  | 16,041 |  |  | 13,103 |  |
Bank |  |  |  |  |  |  |  |
Federal Home Loan Bank borrowings (a) | 5.00% - 5.24% |  | 2023-2026 |  | 32,020 |  |  | 32,075 |  |
Senior debt | 2.50% - 5.61% |  | 2023-2043 |  | 5,335 |  |  | 5,283 |  |
Subordinated debt | 2.70% - 5.90% |  | 2023-2029 |  | 3,876 |  |  | 4,578 |  |
Total Bank |  |  |  |  | 41,231 |  |  | 41,936 |  |
Total |  |  |  |  | $ | 57,272 |  |  | $ | 55,039 |  |
(a)FHLB borrowings are generally collateralized by residential mortgage loans, other mortgage-related loans and investment securities. In Table 58, the carrying values for Parent Company senior and subordinated debt include basis adjustments of $(557) million and $(47) million, respectively, whereas Bank senior and subordinated debt include basis adjustments of $(202) million and $(179) million, respectively, related to fair value accounting hedges as of March 31, 2023. Certain borrowings are reported at fair value. Refer to Note 11 Fair Value for more information on those borrowings. For further information regarding junior subordinated debentures refer to Note 10 Borrowed Funds in our 2022 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 https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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