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BORROWED FUNDS (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term borrowed funds

The following table presents a summary of the Company’s long-term borrowed funds:

(in millions)			March 31, 2021						December 31, 2020
Parent Company:
2.375% fixed-rate senior unsecured debt, due July 2021			$350						$350
4.150% fixed-rate subordinated debt, due September 2022 (1)			168						182
3.750% fixed-rate subordinated debt, due July 2024 (1)			90						159
4.023% fixed-rate subordinated debt, due October 2024 (1)			17						25
4.350% fixed-rate subordinated debt, due August 2025 (1)			133						193
4.300% fixed-rate subordinated debt, due December 2025 (1)			336						450
2.850% fixed-rate senior unsecured notes, due July 2026			497						497
2.500% fixed-rate senior unsecured notes, due February 2030			297						297
3.250% fixed-rate senior unsecured notes, due April 2030			745						745
3.750% fixed-rate reset subordinated debt, due February 2031 (1)			69						—
4.300% fixed-rate reset subordinated debt, due February 2031 (1)			135						—
4.350% fixed-rate reset subordinated debt, due February 2031 (1)			60						—
2.638% fixed-rate subordinated debt, due September 2032			545						543
CBNA’s Global Note Program:
2.550% senior unsecured notes, due May 2021			1,000						1,003
3.250% senior unsecured notes, due February 2022			712						716
0.918% floating-rate senior unsecured notes, due February 2022 (2)			300						299
1.000% floating-rate senior unsecured notes, due May 2022 (2)			250						250
2.650% senior unsecured notes, due May 2022			508						510
3.700% senior unsecured notes, due March 2023			523						527
1.143% floating-rate senior unsecured notes, due March 2023 (2)			250						249
2.250% senior unsecured notes, due April 2025			746						746
3.750% senior unsecured notes, due February 2026			536						551
Additional Borrowings by CBNA and Other Subsidiaries:
Federal Home Loan Bank advances, 0.920% weighted average rate, due through 2038			19						19
Other			30						35
Total long-term borrowed funds			$8,316						$8,346

(1) March 31, 2021 balances reflect the February 2021 completion of $265 million in private exchange offers for five series of outstanding subordinated notes whereby participants received newly issued 3.750%, 4.300%, and 4.350% fixed-rate reset subordinated notes due 2031 which are redeemable by the Company five years prior to their maturity.

(2) Rate disclosed reflects the floating rate as of March 31, 2021 or final rate, as applicable.

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 March 31, 2021:

(in millions)			Parent Company			CBNA and Other Subsidiaries			Consolidated
Year
2021			$350			$1,006			$1,356
2022			168			1,777			1,945
2023			—			774			774
2024			107			1			108
2025			469			759			1,228
2026 and thereafter			2,348			557			2,905
Total			$3,442			$4,874			$8,316

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