Borrowings (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-Term Borrowings

The following table presents the carrying value of outstanding borrowings.

Borrowings (dollars in millions)

	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

Schedule of FHLB Balances

FHLB Balances (dollars in millions)

									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	%

^{(1) December 31, 2019 pledged assets included $50.4 million of High Quality Liquid Securities.}