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DEPOSITS

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

DEPOSITS

NOTE 11 - DEPOSITS

Interest-bearing deposits in banks are carried at cost and include deposits that mature within one year.

The following table presents the major components of deposits:

			December 31,
(in millions)			2020						2019
Demand			$43,831						$29,233
Checking with interest			27,204						24,840
Regular savings			18,044						13,779
Money market accounts			48,569						38,725
Term deposits			9,516						18,736
Total deposits			$147,164						$125,313

The following table presents the maturity distribution by year of term deposits as of December 31, 2020:

(in millions)
2021			$8,474
2022			660
2023			168
2024			162
2025			49
2026 and thereafter			3
Total			$9,516

Of these deposits, the amount of term deposits with a denomination of $100,000 or more was $5.8 billion at December 31, 2020. The following table presents the remaining maturities of these deposits:

(in millions)
Three months or less			$3,420
After three months through six months			956
After six months through twelve months			986
After twelve months			436
Total term deposits			$5,798

X

- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

+ Details

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X

- References

No definition available.

+ Details

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