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v3.19.1

BORROWED FUNDS (Tables) | 3 Months Ended
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Mar. 31, 2019
Debt Disclosure [Abstract] |
Schedule of short-term borrowed funds | A summary of the Company’s short-term borrowed funds is presented below:
(in millions) | March 31, 2019 |  | December 31, 2018
Federal funds purchased |  | $375 |  |  |  | $820 |
Securities sold under agreements to repurchase | 293 |  |  | 336 |
Other short-term borrowed funds | 11 |  |  | 161 |
Total short-term borrowed funds |  | $679 |  |  |  | $1,317 |
Key data related to short-term borrowed funds is presented in the following table:
| As of and for the Three Months Ended March 31, |  | As of and for the Year Ended December 31,
(dollars in millions) | 2019 |  |  | 2018 |  |  | 2018
Weighted-average interest rate at period-end:(1) |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase | 1.39 | % |  | — | % |  | 1.72 | %
Other short-term borrowed funds | 3.03 |  |  | 3.40 |  |  | 2.73 |
Maximum amount outstanding at any month-end during the period: |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase(2) |  | $1,134 |  |  |  | $625 |  |  |  | $1,282 |
Other short-term borrowed funds | 511 |  |  | 1,110 |  |  | 1,110 |
Average amount outstanding during the period: |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase(2) |  | $640 |  |  |  | $645 |  |  |  | $654 |
Other short-term borrowed funds | 58 |  |  | 588 |  |  | 467 |
Weighted-average interest rate during the period:(1) |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase | 1.24 | % |  | 0.66 | % |  | 0.92 | %
Other short-term borrowed funds | 2.75 |  |  | 1.67 |  |  | 2.10 |
(1) Rates exclude certain hedging costs. (2) Balances are net of certain short-term receivables associated with reverse repurchase agreements, as applicable.
Schedule of long-term borrowed funds | A summary of the Company’s long-term borrowed funds is presented below:
(in millions) | March 31, 2019 |  | December 31, 2018
Parent Company: |  |  |
2.375% fixed-rate senior unsecured debt, due July 2021 |  | $349 |  |  |  | $349 |
4.150% fixed-rate subordinated debt, due September 2022 | 348 |  |  | 348 |
3.750% fixed-rate subordinated debt, due July 2024 | 250 |  |  | 250 |
4.023% fixed-rate subordinated debt, due October 2024 | 42 |  |  | 42 |
4.350% fixed-rate subordinated debt, due August 2025 | 249 |  |  | 249 |
4.300% fixed-rate subordinated debt, due December 2025 | 750 |  |  | 749 |
Banking and Other Subsidiaries: |  |  |
2.500% senior unsecured notes, due March 2019 (1) | — |  |  | 748 |
2.450% senior unsecured notes, due December 2019 (1) | 745 |  |  | 744 |
2.250% senior unsecured notes, due March 2020 (1) | 694 |  |  | 691 |
3.155% floating-rate senior unsecured notes, due March 2020 (1) (2) | 300 |  |  | 300 |
3.216% floating-rate senior unsecured notes, due May 2020 (1) (2) | 250 |  |  | 250 |
2.200% senior unsecured notes, due May 2020 (1) | 499 |  |  | 499 |
2.250% senior unsecured notes, due October 2020 (1) | 742 |  |  | 738 |
2.550% senior unsecured notes, due May 2021 (1) | 973 |  |  | 964 |
3.250% senior unsecured notes, due February 2022 (1) | 702 |  |  | — |
3.413% floating-rate senior unsecured notes, due February 2022 (1) (2) | 299 |  |  | — |
3.456% floating-rate senior unsecured notes, due May 2022 (1) (2) | 249 |  |  | 249 |
2.650% senior unsecured notes, due May 2022 (1) | 492 |  |  | 487 |
3.700% senior unsecured notes, due March 2023 (1) | 508 |  |  | 502 |
3.551% floating-rate senior unsecured notes, due March 2023 (1) (2) | 249 |  |  | 249 |
3.750% senior unsecured notes, due February 2026 (1) | 506 |  |  | — |
Federal Home Loan Bank advances, 2.787% weighted average rate, due through 2038 | 2,508 |  |  | 7,508 |
Other | 21 |  |  | 9 |
Total long-term borrowed funds |  | $11,725 |  |  |  | $15,925 |
(1) Issued under CBNA’s Global Bank Note Program. (2) Rate disclosed reflects the floating rate as of March 31, 2019.
Schedule of maturities of long-term borrowed funds | A summary of maturities for the Company’s long-term borrowed funds at March 31, 2019 is presented below:
(in millions) | Parent Company | Banking and Other Subsidiaries | Consolidated |
Year |  |  |
2019 |  | $— |  |  | $748 |  |  | $748 |
2020 | — |  | 4,989 |  | 4,989 |
2021 | 349 |  | 978 |  | 1,327 |
2022 | 348 |  | 1,749 |  | 2,097 |
2023 | — |  | 759 |  | 759 |
2024 and thereafter | 1,291 |  | 514 |  | 1,805 |
Total |  | $1,988 |  |  | $9,737 |  |  | $11,725 |

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