Borrowings (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Breakdown of FHLB Advances Outstanding

The following is a breakdown of our FHLB advances outstanding:

	June 30, 2020				December 31, 2019
	Amount		Rate		Amount		Rate
	(Dollars in millions)
Short-term fixed rate term advances	$	2,360	0.21	%	$	3,695	1.61	%
Other short-term borrowings (1)	994		0.17	%	470		1.64	%
Total short-term Federal Home Loan Bank advances and other borrowings	3,354				4,165
Long-term fixed rate advances (2)	1,200		1.03	%	650		1.45	%
Total long-term Federal Home Loan Bank advances	1,200				650
Total Federal Home Loan Bank advances and other borrowings	$	4,554			$	4,815

(1)Includes $4 million outstanding under the FHLB line of credit and $325 million outstanding under the paycheck protection program liquidity facility.

(2)Includes the current portion of fixed rate advances of $0 million at both June 30, 2020 and December 31, 2019.

Detailed Information on FHLB Advances and Other Borrowings

The following table contains detailed information on our FHLB advances and other borrowings:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	(Dollars in millions)
Maximum outstanding at any month end	$	5,660		$	3,230		$	6,841		$	3,391
Average outstanding balance	$	4,821		$	2,987		$	4,590		$	2,933
Average remaining borrowing capacity	$	5,272		$	3,776		$	5,124		$	3,506
Weighted average interest rate	0.45		%	2.40		%	0.86		%	2.43		%

Maturity Dates of FHLB Advances and Other Borrowings

The following table outlines the maturity dates of our FHLB advances and other borrowings:

	June 30, 2020
	(Dollars in millions)
2020	$	3,029
2021	—
2022	525
2023	500
Thereafter	500
Total	$	4,554

Long-Term Debt, Net of Debt Issuance Costs

The following table presents long-term debt, net of debt issuance costs:

	June 30, 2020				December 31, 2019
	Amount		Interest Rate		Amount		Interest Rate
	(Dollars in millions)
Senior Notes
Senior notes, matures 2021	$	246	6.125	%	$	249	6.125	%
Trust Preferred Securities
Floating Three Month LIBOR Plus:
3.25%, matures 2032	26		3.53	%	26		5.20	%
3.25%, matures 2033	26		4.47	%	26		5.24	%
3.25%, matures 2033	26		3.56	%	26		5.21	%
2.00%, matures 2035	26		3.22	%	26		3.99	%
2.00%, matures 2035	26		3.22	%	26		3.99	%
1.75%, matures 2035	51		2.06	%	51		3.64	%
1.50%, matures 2035	25		2.72	%	25		3.49	%
1.45%, matures 2037	25		1.76	%	25		3.34	%
2.50%, matures 2037	16		2.81	%	16		4.39	%
Total Trust Preferred Securities	247				247
Total other long-term debt	$	493			$	496