Transactions with Affiliates (Tables)

12 Months Ended

Dec. 31, 2020

Transactions with affiliates as of or for the years ended December 31, were as follows:


(Millions, except percentages)	2020			2019			2018
Loans to affiliates and other	$	10,890		$	10,345		$	14,136
Average interest rate on loans to affiliates and other	1.52		%	2.89		%	2.79		%
Due from affiliates	$	6		$	652		$	210
Restricted cash with affiliates	120			116			93
Short-term debt to affiliates	8,569			6,225			5,899
Average interest rate on short-term debt to affiliates	0.62		%	2.33		%	2.09		%
Maximum month-end level of short-term debt during the year	$	8,622		$	7,087		$	14,216
Long-term debt to affiliates	822			9,292			7,523
Average interest rate on long-term debt to affiliates	1.65		%	3.17		%	2.69		%
Maximum month-end level of long-term debt during the year	$	3,276		$	13,391		$	8,725
Due to affiliates	4,344			2,133			2,869
Maximum month-end level of loans to affiliates during the year	13,959			14,264			14,136
Interest income from affiliates and other	166			332			383
Interest expense to affiliates	75			433			225
Other, net expense	2			2			2
Interest paid on short-term and long-term debt	$	112		$	421		$	198

Components of loans to affiliates

The components of loans to affiliates and other as of December 31 were as follows:


(Millions)	2020		2019
American Express Services Europe Limited	$	2,881	$	4,206
American Express Company	2,772		—
American Express Australia Limited	1,745		2,052
Amex Global Holdings C.V.	1,430		888
Amex Bank of Canada	857		1,587
American Express Company (Mexico) S.A. de C.V.	540		534
American Express International, Inc., Singapore Branch	303		413
American Express Bank (Mexico) S.A.	257		404
American Express International (NZ), Inc.	56		70
Alpha Card S.C.R.L./C.V.B.A.	25		120
American Express Saudi Arabia (C) JSC	24		71
Total(a)	$	10,890	$	10,345

(a)As of December 31, 2020, and 2019, approximately $6.4 billion and $8.2 billion, respectively, were collateralized by the underlying Card Member receivables and loans transferred with recourse.

Components of short-term debt to affiliates

Components of short-term debt to affiliates as of December 31 were as follows:


(Millions)	2020		2019
American Express Travel Related Services Company, Inc.(a)	$	7,073	$	—
AE Exposure Management Limited (a)	1,193		5,731
American Express Holdings Netherlands CV	192		192
Accertify Inc.	107		82
American Express Swiss Holdings GmbH	4		1
American Express Europe LLC	—		219
Total	$	8,569	$	6,225

(a)Refer to Note 1 to the “Consolidated Financial Statements” for additional information.

Components of long-term debt to affiliates

Components of long-term debt to affiliates as of December 31 were as follows:


	2020				2019
	Outstanding Balance		Year-End Stated Interest Rate on Debt		Outstanding Balance		Year-End Stated Interest Rate on Debt

(Millions, except percentages)
American Express Company(a)	$	454	0.91	%	$	8,959	2.85	%
Amex Funding Management (Europe) Limited(b)	368		0.28		333		0.28
Total	$	822	0.63	%	$	9,292	2.76	%

(a)Amounts payable by November 2023. Refer to Note 1 to the “Consolidated Financial Statements” for additional information.

(b)Amounts payable by September 2021.