MEDIUM- AND LONG-TERM DEBT

Medium- and long-term debt is summarized as follows:



(in millions)
December 31	2011		2010
Parent company
Subordinated notes:
4.80% subordinated notes due 2015	$	338	$	337
Subordinated notes related to trust preferred securities (a)	30		—
Total subordinated notes	368		337
Medium-term notes:
3.00% notes due 2015	298		298
Total parent company	666		635
Subsidiaries
Subordinated notes:
7.375% subordinated notes due 2013 (a)	53		—
5.70% subordinated notes due 2014	276		280
5.75% subordinated notes due 2016	699		691
5.20% subordinated notes due 2017	595		568
Floating-rate based on LIBOR index subordinated notes due 2018 (a)	26		—
8.375% subordinated notes due 2024	189		191
7.875% subordinated notes due 2026	243		213
Total subordinated notes	2,081		1,943
Medium-term notes:
Floating-rate based on LIBOR indices due 2011 to 2012	158		1,017
Federal Home Loan Bank advances:
Floating-rate based on LIBOR indices due 2011 to 2014	2,000		2,500
Other notes:
6.0% - 6.4% fixed-rate notes due 2020	39		43
Total subsidiaries	4,278		5,503
Total medium- and long-term debt	$	4,944	$	6,138

(a) Medium- and long-term debt assumed in Sterling acquisition.

The carrying value of medium- and long-term debt has been adjusted to reflect the gain or loss attributable to the risk hedged with interest rate swaps.

On July 28, 2011, the Corporation assumed $83 million of subordinated notes from Sterling related to trust preferred securities issued by unconsolidated subsidiaries. On October 27, 2011, the Corporation fully redeemed $32 million of 8.30% fixed rate subordinated notes, and the related trust preferred securities, with an original maturity date of September 26, 2032, and on December 31, 2011, the Corporation fully redeemed $21 million of floating rate subordinated notes, and the related trust preferred securities, with an original maturity date of August 30, 2032. At December 31, 2011, subordinated notes assumed from Sterling related to trust preferred securities issued by unconsolidated subsidiaries were as follows:



(in millions) Maturity Date	Subordinated Notes Owed to Unconsolidated Subsidiaries		Interest Rate	Trust Preferred Securities Outstanding
January 7, 2012	$	4	3-month LIBOR plus 3.10%	$	4
June 15, 2037	26		3-month LIBOR plus 1.60%	25
Total	$	30		$	29

On January 7, 2012, the Corporation fully redeemed $4 million of floating rate subordinated notes, and the related trust preferred securities, with an original maturity date of July 7, 2033. Trust preferred securities with remaining maturities greater than one year qualify as Tier 1 capital. All other subordinated notes with remaining maturities greater than one year qualify as Tier 2 capital.

Comerica Bank (the Bank), a subsidiary of the Corporation, is a member of the FHLB, which provides short- and long-term funding collateralized by mortgage-related assets to its members. FHLB advances bear interest at variable rates based on LIBOR and were secured by a blanket lien on $15 billion of real estate-related loans at December 31, 2011.

The Corporation currently has a $15 billion medium-term senior note program. This program allows the Bank to issue fixed- or floating-rate notes with maturities between three months and 30 years. The Bank did not issue any notes under the senior note program during the years ended December 31, 2011 and 2010. The interest rate on the floating rate medium-term notes due in 2012 outstanding at December 31, 2011 was three-month LIBOR plus 0.145%. The medium-term notes do not qualify as Tier 2 capital and are not insured by the FDIC.

At December 31, 2011, the principal maturities of medium- and long-term debt were as follows:



(in millions)
Years Ending December 31
2012	$	167
2013	1,056
2014	1,256
2015	606
2016	650
Thereafter	867
Total	$	4,602