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Borrowings
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Debt Disclosure Borrowings
The following table presents a summary of short-term borrowings:
(Dollars in millions)Sep 30, 2023Dec 31, 2022
FHLB advances$18,900 $18,900 
Securities sold under agreements to repurchase2,130 2,128 
Securities sold short1,718 1,551 
Collateral in excess of derivative exposures
451 403 
Master notes200 370 
Other short-term borrowings86 70 
Total short-term borrowings$23,485 $23,422 

The following table presents a summary of long-term debt:
(Dollars in millions)Sep 30, 2023Dec 31, 2022
Truist Financial Corporation:
Fixed rate senior notes$18,801 $14,107 
Floating rate senior notes999 999 
Fixed rate subordinated notes(1)
1,824 1,882 
Capital notes(1)
628 625 
Structured notes(2)
— 12 
Truist Bank:
Fixed rate senior notes4,142 6,982 
Floating rate senior notes1,250 1,749 
Fixed rate subordinated notes(1)
4,740 4,767 
Fixed rate FHLB advances2 2 
Floating rate FHLB advances
7,600 10,800 
Other long-term debt(3)
1,246 1,278 
Total long-term debt$41,232 $43,203 
(1)Subordinated and capital notes with a remaining maturity of one year or greater qualify under the risk-based capital guidelines as Tier 2 supplementary capital, subject to certain limitations.
(2)Consist of notes with various terms that include fixed or floating rate interest or returns that are linked to an equity index.
(3)Includes debt associated with finance leases, tax credit investments, and other.