Commercial Paper and Other Short-Term Borrowings

12 Months Ended

Dec. 31, 2015

Short-term Debt [Abstract]

Commercial Paper and Other Short-Term Borrowings

Commercial Paper and Other Short-Term Borrowings

The following is a summary of the Company's commercial paper and other short-term borrowings:

(Dollars in millions)	December 31, 2015		December 31, 2014
Federal funds purchased and securities sold under repurchase agreements, with weighted average interest rates of 0.30% and 0.12% at December 31, 2015 and December 31, 2014, respectively	$	44	$	111
Commercial paper, with a weighted average interest rate of 0.23% and 0.16% at December 31, 2015 and December 31, 2014, respectively	994		2,593
Total commercial paper and other short-term borrowings	$	1,038	$	2,704

In September 2008, the Company established a $500 million, three-year unsecured revolving credit facility with BTMU. This credit facility was renewed and expires in July 2018. For additional information regarding the Company's revolving credit facility with BTMU, see Note 20 to our Consolidated Financial Statements included in this Form 10-K.

At December 31, 2015, federal funds purchased and securities sold under repurchase agreements had a weighted average remaining maturity of 4 days. The commercial paper outstanding had a weighted average remaining maturity of 40 days.