BORROWED FUNDS (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of short-term borrowed funds

The following is a summary of the Company’s short-term borrowed funds:

	December 31,
(in millions)	2014		2013
Federal funds purchased		$574		$689
Securities sold under agreements to repurchase	3,702		4,102
Other short-term borrowed funds	6,253		2,251
Total short-term borrowed funds		$10,529		$7,042

Key data related to short-term borrowed funds is presented in the following table:

	As of and for the Year Ended December 31,
(dollars in millions)	2014			2013			2012
Weighted-average interest rate at year-end:
Federal funds purchased and securities sold under agreements to repurchase	0.14		%	0.09		%	0.10		%
Other short-term borrowed funds	0.26			0.20			0.29
Maximum amount outstanding at month-end during the year:
Federal funds purchased and securities sold under agreements to repurchase		$7,022			$5,114			$4,393
Other short-term borrowed funds	7,702			2,251			5,050
Average amount outstanding during the year:
Federal funds purchased and securities sold under agreements to repurchase		$5,699			$2,400			$2,716
Other short-term borrowed funds	5,640			251			3,026
Weighted-average interest rate during the year:
Federal funds purchased and securities sold under agreements to repurchase	0.12		%	0.31		%	0.22		%
Other short-term borrowed funds	0.25			0.44			0.33

Schedule of long-term borrowed funds

The following is a summary of the Company’s long-term borrowed funds:

	December 31,
(in millions)	2014		2013
Citizens Financial Group, Inc.:
4.150% fixed rate subordinated debt, due 2022		$350		$350
5.158% fixed-to-floating rate subordinated debt, (LIBOR + 3.56%) callable, due 2023 (1)	333		333
4.771% fixed rate subordinated debt, due 2023 (1)	333		333
4.691% fixed rate subordinated debt, due 2024 (1)	334		334
4.153% fixed rate subordinated debt, due 2024 (1)	333		—
4.023% fixed rate subordinated debt, due 2024 (1)	333		—
4.082% fixed rate subordinated debt, due 2025 (1)	334		—
Banking Subsidiaries:
1.600% senior unsecured notes, due 2017 (2)	750		—
2.450% senior unsecured notes, due 2019 (2) (3)	746		—
Federal Home Loan advances due through 2033	772		25
Other	24		30
Total long-term borrowed funds		$4,642		$1,405

Schedule of maturities of long-term borrowed funds

The following is a summary of maturities for the Company’s long-term borrowed funds at December 31, 2014:

Year	(in millions)
2015 or on demand		$—
2016	755
2017	762
2018	11
2019	747
2020 and thereafter	2,367
Total		$4,642