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Medium- And Long-Term Debt
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Medium- And Long-Term Debt MEDIUM- AND LONG-TERM DEBT
Medium- and long-term debt is summarized as follows:
(in millions)September 30, 2024December 31, 2023
Parent company
Subordinated notes:
3.80% subordinated notes due 2026
$245 $241 
Medium- and long-term notes:
4.00% notes due 2029
533 523 
5.982% notes due 2030
1,014 —
Total medium- and long-term notes1,547 523 
Total parent company1,792 764 
Subsidiaries
Subordinated notes:
4.00% subordinated notes due 2025
344 337 
7.875% subordinated notes due 2026
159 162 
5.332% subordinated notes due 2033
475 466 
Total subordinated notes978 965 
Medium- and long-term notes:
2.50% notes due July 2024
— 489 
FHLB advances:
5.07% advance due 2025
999 995 
4.79% advance due 2026
1,003 997 
4.49% advance due 2027
1,007 999 
4.49% advance due 2028
1,007 997 
Total FHLB advances
4,016 3,988 
Total subsidiaries4,994 5,442 
Total medium- and long-term debt$6,786 $6,206 
Fixed interest rates have been swapped to a variable rate and designated in a hedging relationship for all notes outstanding at September 30, 2024 and December 31, 2023. Accordingly, carrying value has been adjusted to reflect the change in 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 Comerica, Incorporated, 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 September 30, 2024, FHLB borrowings were $4.0 billion, with remaining capacity for future borrowing of $13.3 billion, secured by real estate-related loans and investment securities collateral.
Unamortized debt issuance costs deducted from the carrying amount of medium- and long-term debt totaled $11 million and $6 million at September 30, 2024 and December 31, 2023, respectively.