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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Short-Term Borrowings | Short-Term Borrowings A summary of short-term borrowings for the years 2022, 2021 and 2020 is presented in the following table: Table 8.9.1 SHORT-TERM BORROWINGS
(Dollars in millions) |  | Trading Liabilities |  | Federal Funds Purchased |  | Securities Sold Under Agreements to Repurchase |  | Other Short-term Borrowings
2022 |  |  |  |  |  |  |  |
Average balance |  | $ | 480 |  |  | $ | 699 |  |  | $ | 881 |  |  | $ | 229 |
Year-end balance |  | 335 |  |  | 400 |  |  | 1,013 |  |  | 1,093 |
Maximum month-end outstanding |  | 700 |  |  | 1,023 |  |  | 1,211 |  |  | 1,093 |
Average rate for the year |  | 2.56 | % |  | 1.56 | % |  | 0.77 | % |  | 2.26 | %
Average rate at year-end |  | 3.67 | % |  | 4.40 | % |  | 2.19 | % |  | 4.30 | %
2021 |  |  |  |  |  |  |  |
Average balance |  | $ | 540 |  |  | $ | 949 |  |  | $ | 1,235 |  |  | $ | 124 |
Year-end balance |  | 426 |  |  | 775 |  |  | 1,247 |  |  | 102 |
Maximum month-end outstanding |  | 685 |  |  | 1,037 |  |  | 1,615 |  |  | 146 |
Average rate for the year |  | 1.11 | % |  | 0.12 | % |  | 0.30 | % |  | 0.09 | %
Average rate at year-end |  | 1.62 | % |  | 0.10 | % |  | 0.11 | % |  | 0.08 | %
2020 |  |  |  |  |  |  |  |
Average balance |  | $ | 457 |  |  | $ | 862 |  |  | $ | 1,109 |  |  | $ | 626 |
Year-end balance |  | 353 |  |  | 845 |  |  | 1,187 |  |  | 166 |
Maximum month-end outstanding |  | 983 |  |  | 1,487 |  |  | 1,661 |  |  | 4,061 |
Average rate for the year |  | 1.24 | % |  | 0.34 | % |  | 0.50 | % |  | 0.84 | %
Average rate at year-end |  | 0.77 | % |  | 0.10 | % |  | 0.26 | % |  | 0.09 | %
Federal funds purchased and securities sold under agreements to repurchase generally have maturities of less than 90 days. Trading liabilities, which represent short positions in securities, are generally held for less than 90 days. Other short-term borrowings have original maturities of one year or less. On December 31, 2022, fixed income trading securities with a fair value of $10 million were pledged to secure other short-term borrowings.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
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