Commercial Paper and Other Short-Term Borrowings

12 Months Ended

Dec. 31, 2016

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, 2016		December 31, 2015
Debt issued by MUB
Federal funds purchased, with weighted average interest rates of 0.50% and 0.11% at December 31, 2016 and December 31, 2015, respectively	$	26	$	8
Commercial paper, with a weighted average interest rate of 0.55% and 0.24% at December 31, 2016 and December 31, 2015, respectively	263		994
Federal Home Loan Bank advances, with a weighted average interest rate of 0.59% at December 31, 2016	700		—
Total debt issued by MUB	989		1,002
Debt issued by other MUAH subsidiaries
Short-term debt due to BTMU, with weighted average interest rates of 0.49% and 0.64% at December 31, 2016 and December 31, 2015, respectively	679		1,525
Short-term debt due to affiliates, with weighted average interest rates of (0.04)% and 0.28% at December 31, 2016 and December 31, 2015, respectively	692		898
Total debt issued by other MUAH subsidiaries	1,371		2,423
Total commercial paper and other short-term borrowings	$	2,360	$	3,425

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 2019. For additional information regarding the Company's revolving credit facility with BTMU, see Note 22 to our Consolidated Financial Statements included in this Form 10-K.

At December 31, 2016, federal funds purchased and Federal Home Loan Bank advances both had a weighted average remaining maturity of 3 days. The commercial paper outstanding had a weighted average remaining maturity of 70 days. The short-term debt due to BTMU had a weighted average remaining maturity of 45 days and the short-term debt due to affiliates had a weighted average remaining maturity of 33 days.

Short-term debt due to BTMU consists of both secured and unsecured fixed and floating rate borrowings.

MUSA maintains an uncommitted, unsecured lending facility with Mitsubishi UFJ Securities Holdings Co., Ltd. under which it may borrow up to $1.4 billion. Under the terms of the facility, MUSA can choose to borrow in Japanese Yen or US Dollars. Japanese Yen denominated borrowings include an extension option allowing MUSA to extend the maturity of an individual draw by 100 days at any time prior to its original, stated maturity. At December 31, 2016, MUSA had JPY 81 billion ($692 million USD equivalent) drawn under this facility.