Borrowings (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Breakdown of FHLB Advances Outstanding

The following is a breakdown of our FHLB advances outstanding:

	September 30, 2020				December 31, 2019
	Amount		Rate		Amount		Rate
	(Dollars in millions)
Short-term fixed rate term advances	$	1,555	0.20	%	$	3,695	1.61	%
Other short-term borrowings (1)	671		0.11	%	470		1.64	%
Total short-term Federal Home Loan Bank advances and other borrowings	2,226				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	$	3,426			$	4,815

(1)Includes borrowings under overnight federal funds purchased lines with other Federal Reserve member institutions.

(2)There was no current portion of fixed rate advances at both September 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 September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
	(Dollars in millions)
Maximum outstanding at any month end	$	4,388		$	2,979		$	6,841		$	3,391
Average outstanding balance	$	3,528		$	2,446		$	4,234		$	2,769
Average remaining borrowing capacity	$	5,494		$	4,957		$	5,249		$	3,932
Weighted average interest rate	0.48		%	2.10		%	0.76		%	2.33		%

Maturity Dates of FHLB Advances and Other Borrowings

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

	September 30, 2020
	(Dollars in millions)
2020	$	2,226
2021	—
2022	200
2023	500
Thereafter	500
Total	$	3,426

Long-Term Debt, Net of Debt Issuance Costs

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

	September 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		3.48	%	26		5.20	%
3.25%, matures 2033	26		3.53	%	26		5.24	%
3.25%, matures 2033	26		3.47	%	26		5.21	%
2.00%, matures 2035	26		2.28	%	26		3.99	%
2.00%, matures 2035	26		2.28	%	26		3.99	%
1.75%, matures 2035	51		2.00	%	51		3.64	%
1.50%, matures 2035	25		1.78	%	25		3.49	%
1.45%, matures 2037	25		1.70	%	25		3.34	%
2.50%, matures 2037	16		2.75	%	16		4.39	%
Total Trust Preferred Securities	247				247
Total other long-term debt	$	493			$	496