Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The table below reflects interest rates and maturity dates in effect at December 31, 2016.

	December 31, 2016			December 31, 2015
	(in millions)
Senior debt:
Fixed rate:
3.00% to 3.99%	$	—		$	88
4.00% to 4.99%; due 2018	70			68
5.00% to 5.49%; due 2017 to 2021	1,182			1,211
5.50% to 5.99%; due 2017 to 2018	139			1,999
6.00% to 6.49%; due 2017	29			1,369
7.00% to 7.49%; due 2023 to 2032	37			37
7.50% to 7.99%; due 2019 to 2032	237			266
Variable rate:
Secured financings – .93% to 3.24%; due 2017 to 2018	404			879
Other variable interest rate senior debt – .84%	—			1,300
Subordinated debt – 6.68%; due 2021	2,208			2,208
Mark-to-market adjustment on fair value option long-term debt	36			91
Unamortized discount	(21		)	(26		)
HSBC acquisition purchase accounting fair value adjustments	19			20
Total long-term debt	$	4,340		$	9,510

Schedule of Maturities of Long-term Debt

Maturities of long-term debt at December 31, 2016, including secured financings based on the anticipated clean-up date for the collateralized funding transaction, are as follows:

	(in millions)
2017(1)	$	1,448
2018	271
2019	155
2020	—
2021	2,326
Thereafter	140
Total	$	4,340

⁽¹⁾  Weighted average interest rate on long-term debt maturing in 2017 is 4.42 percent.