RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2015

Related Party Transactions [Abstract]

Schedule of inter-company borrowed funds

The following is a summary of borrowed funds from RBS:

(dollars in millions)	Interest Rate	Maturity Date	June 30, 2015	December 31, 2014
Subordinated debt	5.158%	June 2023	$333		$333
	4.771%	October 2023	333	333
	4.691%	January 2024	334	334
	4.153%	July 2024	333	333
	4.023%	October 2024	333	333
	4.082%	January 2025	334	334

Schedule of related party transactions, recorded interest expense

The following table presents total interest expense recorded on subordinated debt with RBS:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2015		2014		2015		2014
Interest expense on subordinated debt		$20		$13		$40		$25

Schedule of related party swap agreements

The following table presents a summary of these swap agreements:

	June 30, 2015				December 31, 2014
(dollars in millions)	Notional		Fixed Rates	Maturity Date	Notional		Fixed Rates	Maturity Date
Receive-fixed swaps		$4,750	1.66% to 2.04%	2019 - 2023		$4,750	1.66% to 2.04%	2019 - 2023
Pay-fixed swaps	2,500		2.03% to 4.30%	2016 - 2023	1,000		4.18% to 4.30%	2016
Total		$7,250				$5,750

Schedule of related party transactions effect on net interest income (expense)

The following table presents net interest income (expense) recorded by the Company in relation to interest rate swap agreements with RBS:

	Three Months Ended   June 30,					Six Months Ended   June 30,
(in millions)	2015		2014			2015		2014
The effect of related party interest rate swap agreements on net interest income (expense)		$3		($10	)		$6		($21	)

Schedule of related party transactions, recorded income (expense)

The following table presents the income (expense) recorded by the Company in relation to the interest rate swap and cap agreements and foreign exchange contracts with RBS:

	Three Months Ended   June 30,						Six Months Ended   June 30,
(in millions)	2015			2014			2015			2014
The effect of related party interest rate swap and cap agreements on other income		$18			($82	)		($50	)		($135	)
The effect of related party foreign exchange contracts on foreign exchange and trade finance fees		($19	)		($1	)		$16			($7	)

Schedule of related party fees effect on income

The following table presents the effect of the related party fees on total fee income and outside services:

	Three Months Ended   June 30,				Six Months Ended   June 30,
(in millions)	2015		2014		2015		2014
The effect of related party service and referral fees, net of occupancy expense, on total fee income		$3		$3		$7		$8
The effect of related party service fees on outside services		$3		$8		$5		$16