Borrowed Funds

3 Months Ended

Mar. 31, 2020

BORROWED FUNDS

The following shows the carrying value of total borrowed funds of $73.4 billion at March 31, 2020 (including adjustments related to purchase accounting, accounting hedges and unamortized original issuance discounts) by remaining contractual maturity:

Table 57: Borrowed Funds



In billions
Less than 1 year	$	38.8
1 to 2 years	$	7.4
2 to 3 years	$	8.1
3 to 4 years	$	2.7
4 to 5 years	$	2.9
Over 5 years	$	13.5

The following table presents the contractual rates and maturity dates of our FHLB borrowings, senior debt and subordinated debt as of March 31, 2020 and the carrying values as of March 31, 2020 and December 31, 2019.

Table 58: FHLB Borrowings, Senior Debt and Subordinated Debt



	Stated Rate		Maturity	Carrying Value
Dollars in millions	2020		2020	2020		2019
Parent Company
Senior debt	2.20%-4.38%		2020-2030	$	10,442	$	8,843
Subordinated debt	3.90	%	2024	814		777
Junior subordinated debt	2.15	%	2028	205		205
Subtotal				11,461		9,825
Bank
FHLB (a)	0.32%-1.89%		2020-2021	23,491		16,341
Senior debt	1.13%-3.50%		2020-2043	20,996		20,167
Subordinated debt	2.70%-4.20%		2022-2029	5,456		5,152
Subtotal				49,943		41,660
Total				$	61,404	$	51,485


(a)	FHLB borrowings are generally collateralized by residential mortgage loans, other mortgage-related loans and investment securities.

In Table 58, the carrying values for Parent Company senior and subordinated debt include basis adjustments of $778 million and $65 million, respectively, whereas Bank senior and subordinated debt include basis adjustments of $592 million and $473 million, respectively, related to fair value accounting hedges as of March 31, 2020.

Certain borrowings are reported at fair value, refer to Note 11 Fair Value for more information on those borrowings.

For further information regarding junior subordinated debentures refer to Note 10 Borrowed Funds in our 2019 Form 10-K.