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Borrowed Funds (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of the Total Borrowed Funds | The following table shows the carrying value of total borrowed funds at September 30, 2024 (including adjustments related to accounting hedges, purchase accounting and unamortized original issuance discounts) by remaining contractual maturity: Table 58: Borrowed Funds
In millions
Less than 1 year | $ | 25,195 |
1 to 2 years | 12,274 |
2 to 3 years | 4,040 |
3 to 4 years | 5,367 |
4 to 5 years | 4,983 |
Over 5 years | 16,210 |
Total | $ | 68,069 |
Contractual Rates and Maturity Dates of Borrowings | The following table presents the contractual rates and maturity dates of our FHLB borrowings, senior debt and subordinated debt as of September 30, 2024, and the carrying values as of September 30, 2024 and December 31, 2023. Table 59: FHLB Borrowings, Senior Debt and Subordinated Debt
| Stated Rate |  | Maturity |  | Carrying Value |
Dollars in millions | September 30, 2024 |  | September 30, 2024 |  | September 30, 2024 |  | December 31, 2023 |
Parent Company |  |  |  |  |  |  |  |
Senior debt | 1.15% - 6.88% |  | 2024 - 2035 |  | $ | 28,394 |  |  | $ | 22,221 |  |
Subordinated debt | 4.63 | % |  | 2033 |  | 814 |  |  | 1,544 |  |
Junior subordinated debt | 5.85 | % |  | 2028 |  | 206 |  |  | 206 |  |
Total Parent Company |  |  |  |  | 29,414 |  |  | 23,971 |  |
Bank |  |  |  |  |  |  |  |
Federal Home Loan Bank borrowings (a) | 5.07% - 5.43% |  | 2024 - 2026 |  | 28,000 |  |  | 38,000 |  |
Senior debt | 2.95% - 5.99% |  | 2024 - 2043 |  | 4,098 |  |  | 4,615 |  |
Subordinated debt | 2.70% - 5.90% |  | 2025 - 2029 |  | 3,176 |  |  | 3,125 |  |
Total Bank |  |  |  |  | 35,274 |  |  | 45,740 |  |
Total |  |  |  |  | $ | 64,688 |  |  | $ | 69,711 |  |
(a)FHLB borrowings are generally collateralized by residential mortgage loans, other mortgage-related loans and investment securities.

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