Medium- And Long-Term Debt

3 Months Ended

Mar. 31, 2014

MEDIUM- AND LONG-TERM DEBT

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



(in millions)	March 31, 2014		December 31, 2013
Parent company
Subordinated notes:
4.80% subordinated notes due 2015 (a)	$	315	$	318
Medium-term notes:
3.00% notes due 2015	299		299
Total parent company	614		617
Subsidiaries
Subordinated notes:
5.70% subordinated notes due 2014 (a)	252		255
5.75% subordinated notes due 2016 (a)	678		681
5.20% subordinated notes due 2017 (a)	561		566
8.375% subordinated notes due 2024 (callable at par in 2014)	183		183
7.875% subordinated notes due 2026 (a)	218		213
Total subordinated notes	1,892		1,898
Federal Home Loan Bank advance:
Floating-rate based on LIBOR indices due 2014	1,000		1,000
Other notes:
6.0% - 6.4% fixed-rate notes due 2020	28		28
Total subsidiaries	2,920		2,926
Total medium- and long-term debt	$	3,534	$	3,543


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

Subordinated notes with remaining maturities greater than one year qualify as Tier 2 capital.

Comerica Bank (the Bank) 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 $14 billion of real estate-related loans at March 31, 2014.