	March 31, 2020						December 31, 2019
	CIT Group Inc.		Subsidiaries		Total		Total
Senior unsecured	$	3,428.4	$	547.1	$	3,975.5	$	3,967.9
Subordinated debt		494.5		—		494.5		494.4
Secured borrowings:
FHLB advances		—		3,050.0		3,050.0		1,650.0
Other secured and structured financings		—		561.3		561.3		361.1
Securities sold under agreement to repurchase		—		13.0		13.0		—
Total borrowings	$	3,922.9	$	4,171.4	$	8,094.3	$	6,473.4

The Revolving Credit Facility had a total commitment amount of $300 million at March 31, 2020, which was reduced from a total commitment amount of $400 million at December 31, 2019. The applicable margin charged under the facility is 1.75% for LIBOR Rate loans and 0.75% for Base Rate loans. The facility was amended to extend the final maturity date of the lenders’ commitments from March 1, 2021 to November 1, 2021, reduce the Tier 1 capital ratio requirement and lower the applicable margin.

The Revolving Credit Facility includes a covenant that requires that the Company maintain a minimum Tier 1 capital ratio of 8.5%. At March 31, 2020, the Revolving Credit Facility was unsecured and was guaranteed by three of the Company’s domestic operating subsidiaries. In addition, the applicable required minimum guarantor asset coverage ratio ranges from 1.0:1.0 to 1.5:1.0 based on CIT’s credit ratings and was 1.25:1.00 at March 31, 2020.

The Revolving Credit Facility may be drawn, prepaid and redrawn at the option of CIT. The unutilized portion of any commitment under the Revolving Credit Facility may be reduced permanently or terminated by CIT at any time without penalty. The $300 million total commitment amount consisted of a $200 million revolving loan tranche and a $100 million revolving loan tranche that can also be utilized for issuance of letters of credit. At March 31, 2020, approximately $40 million was utilized for CIT’s issuances of letters of credit.

The principal amounts and maturity dates of the senior unsecured notes and subordinated unsecured notes remained unchanged from December 31, 2019. See Note 10 – Borrowings in the 2019 Form 10-K.

At March 31, 2020, the Company had pledged $15.8 billion of assets to several financing facilities (including collateral for the FRB discount window that is currently not drawn) which included $12.8 billion of loans and $3.0 billion of investment securities. Under the FHLB Facility, CIT Bank, N.A. may at any time grant a security interest in, sell, convey or otherwise dispose of any of the assets used for collateral, provided that CIT Bank, N.A. is in compliance with the collateral maintenance requirement immediately following such disposition and all other requirements of the facility at the time of such disposition.

As of March 31, 2020, the Company had $8,758.5 million of financing availability with the FHLB, of which $5,708.5 million was unused and available. Included in the financing availability, was $2,879.5 million of availability related to High Quality Liquid Securities of $3,006.3 million for which there were no outstanding borrowings. FHLB Advances at March 31, 2020 and December 31, 2019 had weighted average rates of 1.03% and 2.04%, respectively. FHLB Advances and pledged assets at March 31, 2020, were $3,050.0 million and $10,314.3 million, respectively. FHLB Advances and pledged assets at December 31, 2019, were $1,650.0 million and $6,987.6 million, respectively.

									December 31,
	March 31, 2020								2019
	Lending Assets			High Quality Liquid Securities		Total			Total
Total borrowing capacity	$	5,879.0		$	2,879.5	$	8,758.5		$	6,350.5
Less:
Advances		(3,050.0	)		—		(3,050.0	)		(1,650.0	)
Available capacity	$	2,829.0		$	2,879.5	$	5,708.5		$	4,700.5

Pledged assets⁽¹⁾	$	7,308.0		$	3,006.3	$	10,314.3		$	6,987.6
Weighted Average Rate							1.03	%		2.04	%

Other secured (other than FHLB) and structured financings of CIT-owned subsidiaries totaled $561.3 million and $361.1 million at March 31, 2020 and December 31, 2019, respectively. Pledged assets related to these borrowings totaled $2,388.5 million and $2,205.9 million at March 31, 2020 and December 31, 2019, respectively. These transactions do not meet accounting requirements for sales treatment and are recorded as secured borrowings. The secured and structured financings as of March 31, 2020 had a weighted average rate of 2.27%, with rates ranging from 2.24% to 3.58%, compared to a weighted average rate of 3.03% at December 31, 2019.

There were no outstanding borrowings with the FRB Discount Window at March 31, 2020 and December 31, 2019.