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v3.25.1

BORROWED FUNDS (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of short-term debt | Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following.
(dollars in millions) | March 31, 2025 |  | December 31, 2024
Other short-term borrowed funds | $47 |  |  | $— |
Total short-term borrowed funds | $47 |  |  | $— |
Schedule of long-term borrowed funds | The following table presents a summary of the Company’s long-term borrowed funds:
(dollars in millions) | March 31, 2025 |  | December 31, 2024
Parent Company: |  |  |
4.350% fixed-rate subordinated debt, due August 2025 | 133 |  |  | 133 |
4.300% fixed-rate subordinated debt, due December 2025 | 336 |  |  | 336 |
2.850% fixed-rate senior unsecured notes, due July 2026 | 499 |  |  | 499 |
5.841% fixed/floating-rate senior unsecured notes, due January 2030 | 1,245 |  |  | 1,245 |
2.500% fixed-rate senior unsecured notes, due February 2030 | 299 |  |  | 299 |
3.250% fixed-rate senior unsecured notes, due April 2030 | 747 |  |  | 747 |
3.750% fixed-rate reset subordinated debt, due February 2031 | 69 |  |  | 69 |
4.300% fixed-rate reset subordinated debt, due February 2031 | 135 |  |  | 135 |
4.350% fixed-rate reset subordinated debt, due February 2031 | 61 |  |  | 60 |
5.253% fixed/floating-rate senior unsecured notes, due March 2031 | 746 |  |  | — |
5.718% fixed/floating-rate senior unsecured notes, due July 2032 | 1,244 |  |  | 1,243 |
2.638% fixed-rate subordinated debt, due September 2032 | 571 |  |  | 570 |
6.645% fixed/floating-rate senior unsecured notes, due April 2035 | 745 |  |  | 745 |
5.641% fixed-rate reset subordinated debt, due May 2037 | 398 |  |  | 398 |
CBNA’s Global Note Program: |  |  |
2.250% senior unsecured notes, due April 2025 | 750 |  |  | 750 |
5.284% fixed/floating-rate senior unsecured notes, due January 2026(1) | — |  |  | 350 |
3.750% senior unsecured notes, due February 2026 | 494 |  |  | 492 |
4.575% fixed/floating-rate senior unsecured notes, due August 2028 | 798 |  |  | 798 |
Additional Borrowings by CBNA and Other Subsidiaries: |  |  |
Federal Home Loan Bank advances, 2.944% weighted average rate, due through 2043(2) | 42 |  |  | 53 |
Secured borrowings, 5.565% weighted average rate, due through 2031(2)(3) | 2,937 |  |  | 3,461 |
Other | 18 |  |  | 18 |
Total long-term borrowed funds | $12,267 |  |  | $12,401 |
(1) Notes were redeemed on January 27, 2025. (2) Rate disclosed reflects the weighted average rate as of March 31, 2025. (3) Collateralized by loans. See Note 6 for additional information.

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