BORROWED FUNDS (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of short-term borrowed funds

A summary of the Company’s short-term borrowed funds is presented below:

	December 31,
(in millions)	2017		2016
Federal funds purchased		$460		$533
Securities sold under agreements to repurchase	355		615
Other short-term borrowed funds	1,856		3,211
Total short-term borrowed funds		$2,671		$4,359

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

	As of and for the Year Ended December 31,
(in millions, except ratio data)	2017			2016			2015
Weighted-average interest rate at year-end: (1)
Federal funds purchased and securities sold under agreements to repurchase	0.74		%	0.26		%	0.15		%
Other short-term borrowed funds	1.72			0.94			0.44
Maximum amount outstanding at month-end during the year:
Federal funds purchased and securities sold under agreements to repurchase (2)		$1,174			$1,522			$5,375
Other short-term borrowed funds	3,508			5,461			7,004
Average amount outstanding during the year:
Federal funds purchased and securities sold under agreements to repurchase (2)		$776			$947			$3,364
Other short-term borrowed funds	2,321			3,207			5,865
Weighted-average interest rate during the year:(1)
Federal funds purchased and securities sold under agreements to repurchase	0.36		%	0.09		%	0.22		%
Other short-term borrowed funds	1.32			0.64			0.28

⁽¹⁾ Rates exclude certain hedging costs.

⁽²⁾ Balances are net of certain short-term receivables associated with reverse repurchase agreements, as applicable.

Schedule of long-term borrowed funds

A summary of the Company’s long-term borrowed funds is presented below:

	December 31,
(in millions)	2017		2016
Parent Company:
2.375% fixed-rate senior unsecured debt, due 2021		$349		$348
4.150% fixed-rate subordinated debt, due 2022	348		347
5.158% fixed-to-floating rate subordinated debt, due 2023, converting to floating at 3-month LIBOR + 3.56% and callable beginning June 2018	333		333
3.750% fixed-rate subordinated debt, due 2024	250		250
4.023% fixed-rate subordinated debt, due 2024	42		42
4.350% fixed-rate subordinated debt, due 2025	249		249
4.300% fixed-rate subordinated debt, due 2025	749		749
Banking Subsidiaries:
2.300% senior unsecured notes, due 2018 (1) (2)	—		745
2.450% senior unsecured notes, due 2019 (1)	743		747
2.500% senior unsecured notes, due 2019 (1)	741		741
2.250% senior unsecured notes, due 2020 (1)	692		—
Floating-rate senior unsecured notes, due 2020 (1)	299		—
Floating-rate senior unsecured notes, due 2020 (1)	249		—
2.200% senior unsecured notes, due 2020 (1)	498		—
2.250% senior unsecured notes, due 2020 (1)	742		—
2.550% senior unsecured notes, due 2021(1)	964		965
Floating-rate senior unsecured notes, due 2022 (1)	249		—
2.650% senior unsecured notes, due 2022 (1)	491		—
Federal Home Loan advances due through 2033	3,761		7,264
Other	16		10
Total long-term borrowed funds		$11,765		$12,790

⁽¹⁾ Issued under CBNA’s Global Bank Note Program.

⁽²⁾ Reclassified to short-term borrowed funds.

Schedule of maturities of long-term borrowed funds

A summary of maturities for the Company’s long-term borrowed funds at December 31, 2017 is presented below:

(in millions)	Parent Company		Banking Subsidiaries		Consolidated
Year
2018		$—		$—		$—
2019	—		5,235		5,235
2020	—		2,492		2,492
2021	349		967		1,316
2022	348		744		1,092
2023 and thereafter	1,623		7		1,630
Total		$2,320		$9,445		$11,765