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Borrowings
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Borrowings Borrowings
CSC Senior Notes

CSC’s Senior Notes are unsecured obligations. CSC may redeem some or all of the Senior Notes of each series prior to their maturity, subject to certain restrictions, and the payment of an applicable make-whole premium in certain instances. Interest is payable semi-annually for the fixed-rate Senior Notes and quarterly for the floating-rate Senior Notes.

TDA Holding Senior Notes

TDA Holding’s Senior Notes are unsecured obligations. TDA Holding may redeem some or all of the Senior Notes of each series prior to their maturity, subject to certain restrictions, and the payment of an applicable make-whole premium in certain instances. Interest is payable semi-annually for the fixed-rate Senior Notes and quarterly for the floating-rate Senior Notes.
The following table lists long-term debt by instrument outstanding as of September 30, 2021 and December 31, 2020.
Date of IssuancePrincipal Amount Outstanding
September 30, 2021December 31, 2020
CSC Fixed-rate Senior Notes:
3.250% due May 21, 2021
05/22/18$— $600 
3.225% due September 1, 2022
08/29/12256 256 
2.650% due January 25, 2023
12/07/17800 800 
3.550% due February 1, 2024
10/31/18500 500 
0.750% due March 18, 2024
03/18/211,500 — 
3.750% due April 1, 2024 (1)
09/24/21350 — 
3.000% due March 10, 2025
03/10/15375 375 
4.200% due March 24, 2025
03/24/20600 600 
3.625% due April 1, 2025 (1)
09/24/21418 — 
3.850% due May 21, 2025
05/22/18750 750 
3.450% due February 13, 2026
11/13/15350 350 
0.900% due March 11, 2026
12/11/201,250 1,250 
1.150% due May 13, 2026
05/13/211,000 — 
3.200% due March 2, 2027
03/02/17650 650 
3.300% due April 1, 2027 (1)
09/24/21744 — 
3.200% due January 25, 2028
12/07/17700 700 
2.000% due March 20, 2028
03/18/211,250 — 
4.000% due February 1, 2029
10/31/18600 600 
3.250% due May 22, 2029
05/22/19600 600 
2.750% due October 1, 2029 (1)
09/24/21475 — 
4.625% due March 22, 2030
03/24/20500 500 
1.650% due March 11, 2031
12/11/20750 750 
2.300% due May 13, 2031
05/13/21750 — 
1.950% due December 1, 2031
08/26/21850 — 
CSC Floating-rate Senior Notes:
Three-month LIBOR + 0.32% due May 21, 2021
05/22/18— 600 
SOFR + 0.500% due March 18, 2024
03/18/211,250 — 
SOFR + 0.520% due May 13, 2026
05/13/21500 — 
Total CSC Senior Notes17,768 9,881 
TDA Holding Fixed-rate Senior Notes:
2.950% due April 1, 2022
03/09/15750 750 
3.750% due April 1, 2024 (1)
11/01/1850 400 
3.625% due April 1, 2025 (1)
10/22/1482 500 
3.300% due April 1, 2027 (1)
04/27/1756 800 
2.750% due October 1, 2029 (1)
08/16/1925 500 
TDA Holding Floating-rate Senior Notes:
Three-month LIBOR + 0.43% due November 1, 2021
11/01/18600 600 
Total TDA Holding Senior Notes1,563 3,550 
Other financing101 6 
Unamortized premium — net195 249 
Debt issuance costs(97)(54)
Total long-term debt$19,530 $13,632 
(1) In the third quarter of 2021, we completed an offer to exchange certain senior notes issued by TDA Holding for senior notes issued by CSC. Of the approximately $2.2 billion in aggregate principal amount of TDA Holding’s senior notes offered in the exchange, 90%, or approximately $2.0 billion, were tendered and accepted. The new senior notes issued by CSC have the same interest rates and maturity dates as the TDA Holding senior notes. The $213 million not exchanged remained outstanding across four series of senior notes issued by TDA Holding. The debt exchange was treated as a debt modification for accounting purposes.
Annual maturities on all long-term debt outstanding at September 30, 2021 are as follows:
Maturities
2021$608 
20221,035 
2023829 
20243,673 
20252,237 
Thereafter11,050 
Total maturities19,432 
Unamortized discount— net195 
Debt issuance costs(97)
Total long-term debt$19,530 

Short-term borrowings: Our banking subsidiaries maintain secured credit facilities with the FHLB. Amounts available under these facilities are dependent on the amount of our First Mortgages, HELOCs, and the fair value of certain of their investment securities that are pledged as collateral. As of September 30, 2021 and December 31, 2020, the collateral pledged provided a total borrowing capacity of $63.6 billion and $55.1 billion, respectively, of which no amounts were outstanding at the end of either period.

As a condition of the FHLB borrowings, we are required to hold FHLB stock, which was recorded in other assets on the condensed consolidated balance sheets. Our investment in FHLB stock was $29 million at September 30, 2021 and December 31, 2020.

Additionally, our banking subsidiaries have access to funding through the Federal Reserve discount window. Amounts available are dependent upon the fair value of certain investment securities that are pledged as collateral. As of September 30, 2021 and December 31, 2020, our collateral pledged provided total borrowing capacity of $9.9 billion and $7.9 billion, respectively, of which no amounts were outstanding at the end of either period.

CSC has the ability to issue commercial paper notes with maturities up to 270 days, and had $1.5 billion outstanding at September 30, 2021 and none at December 31, 2020.

CSB and Charles Schwab Premier Bank, SSB (CSPB) are members of the Federal Reserve. As a condition of our Federal Reserve membership, we are required to hold Federal Reserve stock, which totaled $415 million and $191 million at September 30, 2021 and December 31, 2020, respectively.

TDAC Lines of Credit and Revolving Credit Facilities

TDAC maintains secured uncommitted lines of credit, under which TDAC borrows on either a demand or short-term basis and pledges client margin securities as collateral. There was $1.5 billion outstanding under the secured uncommitted lines of credit as of September 30, 2021. There were no borrowings outstanding under the secured uncommitted lines of credit as of December 31, 2020. See Note 12 for additional information.

TDAC maintains one senior unsecured committed revolving credit facility as of September 30, 2021 with an aggregate borrowing capacity of $600 million which matures in April 2022. Additionally, at December 31, 2020, TDAC maintained an $850 million unsecured committed revolving credit facility which matured on April 20, 2021 and was not renewed. There were no borrowings outstanding under the TDAC senior revolving facilities as of September 30, 2021 or December 31, 2020.