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BORROWED FUNDS (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Schedule of short-term borrowed funds | The following table presents a summary of the Company’s short-term borrowed funds:
| December 31,
(in millions) | 2019 |  |  | 2018 |
Securities sold under agreements to repurchase |  | $265 |  |  |  | $336 |
Federal funds purchased | — |  |  | 820 |
Other short-term borrowed funds | 9 |  |  | 161 |
Total short-term borrowed funds |  | $274 |  |  |  | $1,317 |
The following table presents key data related to the Company’s short-term borrowed funds:
| As of and for the Year Ended December 31,
(dollars in millions, except ratio data) | 2019 |  |  | 2018 |  | 2017
Weighted-average interest rate at year-end: (1) |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase | 0.41 | % |  | 1.72 | % |  | 0.74 | %
Other short-term borrowed funds | 3.85 |  |  | 2.73 |  |  | 1.33 |
Maximum amount outstanding at any month-end during the year: |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase (2) |  | $1,499 |  |  |  | $1,282 |  |  |  | $1,174 |
Other short-term borrowed funds | 511 |  |  | 1,110 |  |  | 2,759 |
Average amount outstanding during the year: |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase (2) |  | $599 |  |  |  | $654 |  |  |  | $776 |
Other short-term borrowed funds | 66 |  |  | 467 |  |  | 1,571 |
Weighted-average interest rate during the year: (1) |  |  |  |  |
Federal funds purchased and securities sold under agreements to repurchase | 1.36 | % |  | 0.92 | % |  | 0.36 | %
Other short-term borrowed funds | 2.50 |  |  | 2.10 |  |  | 1.09 |
(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 | The following table presents a summary of the Company’s long-term borrowed funds:
| December 31,
(in millions) | 2019 |  |  | 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 |
2.850% fixed-rate senior unsecured notes, due July 2026 | 496 |  |  | — |
CBNA’s Global Note Program: |  |  |
2.500% senior unsecured notes, due March 2019 | — |  |  | 748 |
2.450% senior unsecured notes, due December 2019 | — |  |  | 744 |
2.250% senior unsecured notes, due March 2020 | 700 |  |  | 691 |
2.447% floating-rate senior unsecured notes, due March 2020 (1) | 300 |  |  | 300 |
2.487% floating-rate senior unsecured notes, due May 2020 (1) | 250 |  |  | 250 |
2.200% senior unsecured notes, due May 2020 | 500 |  |  | 499 |
2.250% senior unsecured notes, due October 2020 | 750 |  |  | 738 |
2.550% senior unsecured notes, due May 2021 | 991 |  |  | 964 |
3.250% senior unsecured notes, due February 2022 | 711 |  |  | — |
2.629% floating-rate senior unsecured notes, due February 2022 (1) | 299 |  |  | — |
2.727% floating-rate senior unsecured notes, due May 2022 (1) | 250 |  |  | 249 |
2.650% senior unsecured notes, due May 2022 | 501 |  |  | 487 |
3.700% senior unsecured notes, due March 2023 | 515 |  |  | 502 |
2.911% floating-rate senior unsecured notes, due March 2023 (1) | 249 |  |  | 249 |
3.750% senior unsecured notes, due February 2026 | 521 |  |  | — |
Additional Borrowings by CBNA and Other Subsidiaries: |  |  |
Federal Home Loan Bank advances, 2.006% weighted average rate, due through 2038 | 5,008 |  |  | 7,508 |
Other | 18 |  |  | 9 |
Total long-term borrowed funds |  | $14,047 |  |  |  | $15,925 |
(1) Rate disclosed reflects the floating rate as of December 31, 2019.
Schedule of maturities of long-term borrowed funds | The following table presents a summary of maturities for the Company’s long-term borrowed funds at December 31, 2019:
(in millions) | Parent Company | CBNA and Other Subsidiaries | Consolidated |
Year |  |  |
2020 |  | $— |  |  | $2,504 |  |  | $2,504 |
2021 | 349 |  | 5,998 |  | 6,347 |
2022 | 348 |  | 1,767 |  | 2,115 |
2023 | — |  | 765 |  | 765 |
2024 | 292 |  | 1 |  | 293 |
2025 and thereafter | 1,495 |  | 528 |  | 2,023 |
Total |  | $2,484 |  |  | $11,563 |  |  | $14,047 |

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