MEDIUM- AND LONG-TERM DEBT

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



(in millions)	June 30, 2014		December 31, 2013
Parent company
Subordinated notes:
4.80% subordinated notes due 2015 (a)	$	311	$	318
Medium-term notes:
3.00% notes due 2015	300		299
2.125% notes due 2019 (a)	349		—
Total parent company	960		617
Subsidiaries
Subordinated notes:
5.70% subordinated notes due 2014 (a)	—		255
8.375% subordinated notes due 2014	182		183
5.75% subordinated notes due 2016 (a)	676		681
5.20% subordinated notes due 2017 (a)	559		566
7.875% subordinated notes due 2026 (a)	221		213
Total subordinated notes	1,638		1,898
Federal Home Loan Bank advance:
Floating-rate based on LIBOR indices due 2014	—		1,000
Other notes:
6.0% - 6.4% fixed-rate notes due 2020	22		28
Total subsidiaries	1,660		2,926
Total medium- and long-term debt	$	2,620	$	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 to its members through advances collateralized by real estate-related assets. Actual borrowing capacity is contingent on the amount of collateral available to be pledged to the FHLB. At June 30, 2014, $14 billion of real estate-related loans were pledged to the FHLB as blanket collateral for potential future borrowings.

In the second quarter 2014, the Corporation issued $350 million of 2.125% senior notes due 2019, which were swapped to a floating rate based on six-month LIBOR. Proceeds will be used for general corporate purposes. The Corporation also announced the intention to call, at their par value of $150 million, the 8.375% subordinated notes, originally due in 2024, on July 15, 2014.

For additional information about medium- and long-term debt, refer to Note 14 - Subsequent Events.