Deposits and Borrowings (Tables)

9 Months Ended

Sep. 30, 2017

Components of Deposits, Short-term Borrowings and Long-term Debt

The table below summarizes the components of our deposits, short-term borrowings and long-term debt as of September 30, 2017 and December 31, 2016. Our total short-term borrowings consist of federal funds purchased and securities loaned or sold under agreements to repurchase. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The carrying value presented below for these borrowings include unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments.

Table 8.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt



(Dollars in millions)	September 30, 2017		December 31, 2016
Deposits:
Non-interest-bearing deposits	$	26,106	$	25,502
Interest-bearing deposits	212,956		211,266
Total deposits	$	239,062	$	236,768
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	767	$	992
Total short-term borrowings	$	767	$	992



	September 30, 2017
(Dollars in millions)	Maturity Dates	Interest Rates	Weighted- Average Interest Rate	Carrying Value		December 31, 2016
Long-term debt:
Securitized debt obligations⁽¹⁾	2018 - 2025	1.33 - 2.75%	1.77	$	17,087	$	18,826
Senior and subordinated notes:⁽¹⁾
Fixed unsecured senior debt	2018 - 2027	1.50 - 4.75	2.69	20,815		17,546
Floating unsecured senior debt	2018 - 2023	1.99 - 2.46	2.19	3,047		1,353
Total unsecured senior debt			2.63	23,862		18,899
Fixed unsecured subordinated debt	2019 - 2026	3.38 - 8.80	4.09	4,558		4,532
Total senior and subordinated notes				28,420		23,431
Other long-term borrowings:
FHLB advances	2017 - 2023	1.21 - 5.43	1.23	13,136		17,179
Capital lease obligations	2022 - 2035	2.50 - 12.86	5.75	48		32
Total other long-term borrowings				13,184		17,211
Total long-term debt				$	58,691	$	59,468
Total short-term borrowings and long-term debt				$	59,458	$	60,460

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⁽¹⁾	Carrying value includes fair value hedge accounting adjustments.

Schedule of Components of Interest Expense on Short-Term Borrowings and Long-Term Debt

The following table displays interest expense attributable to short-term borrowings and long-term debt for the three and nine months ended September 30, 2017 and 2016:

Table 8.2: Components of Interest Expense on Short-Term Borrowings and Long-Term Debt



	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in millions)	2017		2016		2017		2016
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	1	$	0	$	3	$	2
Total short-term borrowings	1		0		3		2
Long-term debt:
Securitized debt obligations⁽¹⁾	85		56		236		151
Senior and subordinated notes⁽¹⁾	194		121		522		338
Other long-term borrowings	30		34		65		84
Total long-term debt	309		211		823		573
Total interest expense on short-term borrowings and long-term debt	$	310	$	211	$	826	$	575

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⁽¹⁾	Interest expense includes the impact from qualifying hedge accounting relationships.