Subsequent Events

9 Months Ended

Sep. 30, 2013

Subsequent Events

Subsequent Events

Note 20. Subsequent Events

On November 7, 2013, the Corporation issued 4 million depositary shares at a price of $25 per depositary share, each representing a 1/40th interest in a share of 6.75 percent fixed-to-floating rate non-cumulative perpetual preferred stock, Series D. Net proceeds after estimated issuance costs were approximately $97 million, and will be used for general corporate purposes.

On November 5, 2013, the Company transferred approximately $1 billion of debt securities from the available-for-sale category to the held-to-maturity category. The transfer of these securities was accounted for at fair value. The unrealized holding gains and losses at the date of the transfer will continue to be reported as a separate component of AOCI and will be amortized or accreted into interest income over the remaining life of the securities transferred.