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Medium- And Long-Term Debt
6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Medium- And Long-Term Debt MEDIUM- AND LONG-TERM DEBT
Medium- and long-term debt is summarized as follows:
(in millions)June 30, 2022December 31, 2021
Parent company
Subordinated notes:
3.80% subordinated notes due 2026 (a)
$246 $265 
Medium- and long-term notes:
3.70% notes due July 2023(a)
847 877 
4.00% notes due 2029 (a)
538 594 
Total medium- and long-term notes1,385 1,471 
Total parent company1,631 1,736 
Subsidiaries
Subordinated notes:
4.00% subordinated notes due 2025 (a)
341 363 
7.875% subordinated notes due 2026 (a)
174 190 
Total subordinated notes515 553 
Medium- and long-term notes:
2.50% notes due 2024 (a)
484 507 
Total medium- and long-term notes484 507 
Total subsidiaries999 1,060 
Total medium- and long-term debt$2,630 $2,796 
(a)The fixed interest rates on these notes have been swapped to a variable rate and designated in a hedging relationship. Accordingly, carrying value has been adjusted to reflect the change in the fair value of the debt as a result of changes in the benchmark rate.
    Subordinated notes with remaining maturities greater than one year qualify as Tier 2 capital.
    Comerica Bank (the Bank), a wholly-owned subsidiary of the Corporation, is a member of the FHLB, which provides short-and long-term funding to its members through advances collateralized by real estate-related assets. Borrowing capacity is contingent on the amount of collateral available to be pledged to the FHLB. At June 30, 2022, $18.1 billion of real estate-related loans and $1.3 billion of investment securities were pledged to the FHLB as collateral with capacity for potential future borrowings of approximately $10.5 billion.
    Unamortized debt issuance costs deducted from the carrying amount of medium- and long-term debt totaled $6 million and $7 million at June 30, 2022 and December 31, 2021, respectively.