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Borrowed Funds
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Borrowed Funds BORROWED FUNDSThe following table shows the carrying value of total borrowed funds of $54.6 billion at September 30, 2022 (including adjustments related to accounting hedges and unamortized original issuance discounts) by remaining contractual maturity:
Table 55: Borrowed Funds
In billions
Less than 1 year$5.9 
1 to 2 years$8.4 
2 to 3 years$20.5 
3 to 4 years$9.2 
4 to 5 years$0.7 
Over 5 years$9.9 
The following table presents the contractual rates and maturity dates of our FHLB borrowings, senior debt and subordinated debt as of September 30, 2022, and the carrying values as of September 30, 2022 and December 31, 2021.
Table 56: FHLB Borrowings, Senior Debt and Subordinated Debt
 Stated RateMaturityCarrying Value
Dollars in millions2022202220222021
Parent Company
Senior debt
1.15% - 3.50%
2022 - 2032$8,296 $10,369 
Subordinated debt
3.90% - 4.63%
2024 - 20331,520 777 
Junior subordinated debt3.65 %2028206 205 
Subtotal  10,022 11,351 
Bank
Federal Home Loan Bank borrowings (a)
3.14% - 3.38%
2023 - 202630,075 
Senior debt
2.50% - 3.50%
2023 - 20435,061 10,292 
Subordinated debt
2.70% - 5.90%
2022 - 20295,560 6,014 
Subtotal  40,696 16,306 
Total  $50,718 $27,657 
(a)FHLB borrowings are generally collateralized by residential mortgage loans, other mortgage-related loans and investment securities.
In Table 56, the carrying values for Parent Company senior and subordinated debt include basis adjustments of $(810) million and $(75) million, respectively, whereas Bank senior and subordinated debt include basis adjustments of $(272) million and $(254) million, respectively, related to fair value accounting hedges as of September 30, 2022.
Certain borrowings are reported at fair value. Refer to Note 12 Fair Value for more information on those borrowings.
For further information regarding junior subordinated debentures refer to Note 10 Borrowed Funds in Item 8 of our 2021 Form 10-K.