Borrowings

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Debt Disclosure

Borrowings

The following table presents a summary of short-term borrowings:

(Dollars in millions)	Mar 31, 2024		Dec 31, 2023
FHLB advances	$	22,500	$	20,500
Securities sold under agreements to repurchase	1,589		2,427
Securities sold short	2,034		1,625
Other short-term borrowings	206		276
Total short-term borrowings	$	26,329	$	24,828

The following table presents a summary of long-term debt:

(Dollars in millions)	Mar 31, 2024		Dec 31, 2023
	Carrying Amount		Carrying Amount
Truist Financial Corporation:
Fixed rate senior notes(1)	$	23,103	$	19,808
Floating rate senior notes	999		999
Fixed rate subordinated notes(1)(2)	1,818		1,831
Capital notes(2)	630		629
Truist Bank:
Fixed rate senior notes	4,184		4,170
Floating rate senior notes	—		1,250
Fixed rate subordinated notes(2)	4,748		4,770
Floating rate FHLB advances	2,200		4,200
Other long-term debt(3)	1,389		1,261
Total long-term debt	$	39,071	$	38,918

(1)Certain senior and subordinated notes convert from fixed to floating one year prior to maturity, and are callable within the final year of maturity at par.

(2)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.

(3)Includes debt associated with finance leases, tax credit investments, and other.