Medium- And Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2018

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



(in millions)	September 30, 2018		December 31, 2017
Parent company
Subordinated notes:
3.80% subordinated notes due 2026 (a)	$	243	$	255
Medium-term notes:
2.125% notes due 2019 (a)	347		347
3.70% notes due 2023 (a)	842		—
Total medium-term notes	1,189		347
Total parent company	1,432		602
Subsidiaries
Subordinated notes:
4.00% subordinated notes due 2025 (a)	332		347
7.875% subordinated notes due 2026 (a)	195		208
Total subordinated notes	527		555
Medium-term notes:
2.50% notes due 2020 (a)	659		665
Federal Home Loan Bank (FHLB) advances:
Floating-rate based on FHLB auction rate due 2026	2,800		2,800
Floating-rate based on FHLB auction rate due 2028	1,000		—
Total FHLB advances	3,800		2,800
Total subsidiaries	4,986		4,020
Total medium- and long-term debt	$	6,418	$	4,622


(a)	The fixed interest rates on these notes have been swapped to a variable rate and designated in a hedging relationship. Accordingly, carrying value has been adjusted to reflect the change in the fair value of the debt as a result of changes in the benchmark rate.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details