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RELATED PARTY TRANSACTIONS AND SIGNIFICANT TRANSACTIONS WITH RBS - Schedule of Related Party Debt Terms (Details) - USD ($)
$ in Millions
6 Months Ended
Jul. 28, 2016
Mar. 07, 2016
Dec. 03, 2015
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Related Party Transaction [Line Items]            
Long-term borrowed funds       $ 11,810   $ 9,886
Repurchase of long-term borrowed funds       3,631 $ 6  
Citizens Financial Group, Inc.            
Related Party Transaction [Line Items]            
Long-term borrowed funds       $ 2,501    
Subordinated Debt | 5.158% fixed-to-floating rate subordinated debt, (LIBOR 3.56%) callable, due 2023 | Citizens Financial Group, Inc.            
Related Party Transaction [Line Items]            
Interest rate [1]       5.158%    
Long-term borrowed funds [1]       $ 333   $ 333
Subordinated Debt | 3.750% fixed rate subordinated debt, due 2024 | Citizens Financial Group, Inc.            
Related Party Transaction [Line Items]            
Interest rate [1]       3.75% [2]   4.153%
Long-term borrowed funds [1],[2]       $ 250   $ 250
Subordinated Debt | 4.023% fixed rate subordinated debt, due 2024 | Citizens Financial Group, Inc.            
Related Party Transaction [Line Items]            
Interest rate [1],[3]       4.023%    
Long-term borrowed funds [1],[3]       $ 218   331
Extinguishment of debt, amount   $ 125        
Subordinated Debt | 4.082% fixed rate subordinated debt, due 2025 | Citizens Financial Group, Inc.            
Related Party Transaction [Line Items]            
Interest rate [1],[4]       4.082%    
Long-term borrowed funds [1],[4]       $ 355   $ 331
RBSG            
Related Party Transaction [Line Items]            
Repurchase of long-term borrowed funds   $ 125 $ 750      
RBSG | Subsequent Event            
Related Party Transaction [Line Items]            
Repurchase of long-term borrowed funds $ 500          
RBSG | Subordinated Debt | 5.158% fixed-to-floating rate subordinated debt, (LIBOR 3.56%) callable, due 2023            
Related Party Transaction [Line Items]            
Interest rate       5.158%   5.158%
Long-term borrowed funds       $ 333   $ 333
RBSG | Subordinated Debt | 3.750% fixed rate subordinated debt, due 2024            
Related Party Transaction [Line Items]            
Interest rate [5]       3.75%    
Long-term borrowed funds       $ 250    
RBSG | Subordinated Debt | 4.153% fixed rate subordinated debt, due 2024            
Related Party Transaction [Line Items]            
Interest rate           4.153%
Long-term borrowed funds           $ 250
RBSG | Subordinated Debt | 4.023% fixed rate subordinated debt, due 2024            
Related Party Transaction [Line Items]            
Interest rate       4.023% [6],[7]   4.023%
Long-term borrowed funds       $ 208   $ 333
RBSG | Subordinated Debt | 4.023% fixed rate subordinated debt, due 2024 | Subsequent Event            
Related Party Transaction [Line Items]            
Interest rate 4.023%          
Repurchase of long-term borrowed funds $ 166          
RBSG | Subordinated Debt | 4.082% fixed rate subordinated debt, due 2025            
Related Party Transaction [Line Items]            
Interest rate       4.082% [6]   4.082%
Long-term borrowed funds       $ 334   $ 334
RBSG | Subordinated Debt | 4.082% fixed rate subordinated debt, due 2025 | Subsequent Event            
Related Party Transaction [Line Items]            
Interest rate 4.082%          
Repurchase of long-term borrowed funds $ 334          
[1] Borrowed funds with RBS as of December 31, 2015. See Note 13 “Related Party Transactions and Significant Transactions with RBS” for further information.
[2] Prior to January 1, 2016, interest was payable at a fixed rate per annum of 4.153%.
[3] These balances are comprised of: principal balance of $208 million and $333 million at June 30, 2016 and December 31, 2015, respectively, as well as the impact from interest rate swaps of $10 million and ($2) million at June 30, 2016 and December 31, 2015, respectively. See Note 11 “Derivatives” for further information. In addition, on March 7, 2016, the Company repurchased $125 million of these securities from RBS. See Note 13 “Related Party Transactions and Significant Transactions with RBS” for further information.
[4] These balances are comprised of: principal balance of $334 million at June 30, 2016 and December 31, 2015; impact from interest rate swaps of $21 million and ($3) million at June 30, 2016 and December 31, 2015, respectively. See Note 11 “Derivatives” for further information.
[5] Prior to January 1, 2016, interest was payable at a fixed rate per annum of 4.153%.
[6] On July 28, 2016, the Company repurchased $500 million of its subordinated notes held by RBS, including $166 million of its 4.023% subordinated notes due 2024 and $334 million of its 4.082% subordinated notes due 2025. Refer to Note 21 “Subsequent Events” for further information.
[7] On March 7, 2016, the Company repurchased $125 million of these securities from RBS.