Commercial Paper and Other Short-Term Borrowings

6 Months Ended

Jun. 30, 2021

Short-term Debt [Abstract]

Commercial Paper and Other Short-Term Borrowings

Commercial Paper and Other Short-Term Borrowings

The following table is a summary of the Company's commercial paper and other short-term borrowings.

(Dollars in millions)	June 30, 2021		December 31, 2020
Debt issued by MUB
Commercial paper, with a weighted average interest rate of 0.09% and 0.16% at June 30, 2021 and December 31, 2020, respectively	$	10	$	23
Total debt issued by MUB	10		23
Debt issued by other MUAH subsidiaries
Short-term debt due to MUFG Bank, Ltd., with a weighted average interest rate of 0.60% at December 31, 2020	—		9
Short-term debt due to affiliates, with weighted average interest rates of -0.08% and -0.08% at June 30, 2021 and December 31, 2020, respectively	72		78
Total debt issued by other MUAH subsidiaries	72		87
Total commercial paper and other short-term borrowings	$	82	$	110

Short-term debt due to MUFG Bank, Ltd. consists of both secured and unsecured fixed and floating rate borrowings.

MUSA maintains an uncommitted, unsecured lending facility with Mitsubishi UFJ Securities Holdings Co., Ltd. under which it may borrow up to JPY 160 billion (USD 1.4 billion equivalent). Under the terms of the facility, MUSA can choose to borrow in Japanese Yen or US Dollars. Japanese Yen denominated borrowings include an irrevocable extension option allowing MUSA to extend the maturity of an individual draw by 100 days at any time prior to its original, stated maturity. At June 30, 2021, MUSA had JPY 8 billion (USD 72 million equivalent) drawn under this facility.