XML 69 R43.htm IDEA: XBRL DOCUMENT v3.20.4
Long-term Debt (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Balance of Long-term Debt
Long-term debt consists of borrowings having an original maturity of one year or more. The table below presents the balance of long-term debt at December 31, 2020 and 2019, and the related contractual rates and maturity dates as of December 31, 2020.
Weighted-average RateDecember 31
(Dollars in millions)Interest RatesMaturity Dates20202019
Notes issued by Bank of America Corporation (1)
  
Senior notes:  
Fixed3.05 %
0.25 - 8.05
%
2021 - 2051
$174,385 $140,265 
Floating0.74 
0.09 - 4.96
2021 - 2044
16,788 19,552 
Senior structured notes17,033 16,941 
Subordinated notes:
Fixed4.89 
2.94 - 8.57
2021 - 2045
23,337 21,632 
Floating1.15 
0.88 - 1.41
2022 - 2026
799 782 
Junior subordinated notes:
Fixed6.71 
6.45 - 8.05
2027 - 2066
738 736 
Floating1.03 1.03 20561 1 
Total notes issued by Bank of America Corporation233,081 199,909 
Notes issued by Bank of America, N.A.   
Senior notes:  
Fixed3.34 3.34 2023511 508 
Floating0.33 
0.28 - 0.49
2021 - 2041
2,323 6,519 
Subordinated notes6.00 6.00 20361,883 1,744 
Advances from Federal Home Loan Banks:
Fixed0.99 
0.01 - 7.72
2021 - 2034
599 112 
Floating— 2,500 
Securitizations and other BANA VIEs (2)
6,296 8,373 
Other683 402 
Total notes issued by Bank of America, N.A.12,295 20,158 
Other debt  
Structured liabilities16,792 20,442 
Nonbank VIEs (2)
757 347 
Other9 — 
Total notes issued by nonbank and other entities17,558 20,789 
Total long-term debt$262,934 $240,856 
(1)Includes total loss-absorbing capacity compliant debt.
(2)Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet.
Schedule of Maturities of Long-term Debt The table below shows the carrying value for aggregate annual contractual maturities of long-term debt as of December 31, 2020. Included in the table are certain structured notes issued by the Corporation that contain provisions whereby the borrowings are redeemable at the option of the holder (put options) at specified dates prior to maturity. Other structured notes have coupon or repayment terms linked to the performance of debt or equity securities, indices, currencies or commodities, and the maturity may be accelerated based on the value of a referenced index or security. In both cases, the Corporation or a subsidiary may be required to settle the obligation for cash or other securities prior to the contractual maturity date. These borrowings are reflected in the table as maturing at their contractual maturity date.
Long-term Debt by Maturity
(Dollars in millions)20212022202320242025ThereafterTotal
Bank of America Corporation
Senior notes$8,888 $15,380 $23,872 $21,407 $15,723 $105,903 $191,173 
Senior structured notes469 2,034 597 190 549 13,194 17,033 
Subordinated notes371 393 — 3,351 5,537 14,484 24,136 
Junior subordinated notes— — — — — 739 739 
Total Bank of America Corporation9,728 17,807 24,469 24,948 21,809 134,320 233,081 
Bank of America, N.A.
Senior notes1,340 975 511 — — 8 2,834 
Subordinated notes— — — — — 1,883 1,883 
Advances from Federal Home Loan Banks502 3 1 — 18 75 599 
Securitizations and other Bank VIEs (1)
4,056 1,241 977 — — 22 6,296 
Other112 16 189 — 279 87 683 
Total Bank of America, N.A.6,010 2,235 1,678 — 297 2,075 12,295 
Other debt
Structured Liabilities4,613 2,414 2,221 655 859 6,030 16,792 
Nonbank VIEs (1)
1 — — — — 756 757 
Other— — — — — 9 9 
Total other debt4,614 2,414 2,221 655 859 6,795 17,558 
Total long-term debt$20,352 $22,456 $28,368 $25,603 $22,965 $143,190 $262,934 
(1)     Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet.