Borrowings

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Borrowings

(Dollars in millions)	March 31, 2025		December 31, 2024
Short-term borrowings
Repurchase agreements	$	73	$	60
Advances from FHLB	1,500		1,000
Total short-term borrowings	$	1,573	$	1,060
Long-term borrowings
Senior notes — M&T	$	4,796	$	4,710
Senior notes — M&T Bank	2,996		3,745
Advances from FHLB	4		2,004
Subordinated notes — M&T Bank	481		474
Junior subordinated debentures — M&T (a)	402		433
Asset-backed notes (a)	1,807		1,229
Other	10		10
Total long-term borrowings	$	10,496	$	12,605

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(a) Further information about Junior Subordinated Debentures and asset-backed note financing transactions is provided in note 11.

M&T Bank had secured borrowing facilities available with the FHLB of New York and the FRB of New York totaling approximately $18.6 billion and $24.7 billion, respectively, at March 31, 2025. M&T Bank is required to pledge loans and investment securities as collateral for these borrowing facilities and could increase the availability under such facilities by pledging additional assets.