BORROWED FUNDS (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule of short-term borrowed funds

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

(in millions)	March 31, 2019		December 31, 2018
Federal funds purchased		$375		$820
Securities sold under agreements to repurchase	293		336
Other short-term borrowed funds	11		161
Total short-term borrowed funds		$679		$1,317

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

	As of and for the Three Months Ended March 31,						As of and for the Year Ended December 31,
(dollars in millions)	2019			2018			2018
Weighted-average interest rate at period-end:(1)
Federal funds purchased and securities sold under agreements to repurchase	1.39		%	—		%	1.72		%
Other short-term borrowed funds	3.03			3.40			2.73
Maximum amount outstanding at any month-end during the period:
Federal funds purchased and securities sold under agreements to repurchase(2)		$1,134			$625			$1,282
Other short-term borrowed funds	511			1,110			1,110
Average amount outstanding during the period:
Federal funds purchased and securities sold under agreements to repurchase(2)		$640			$645			$654
Other short-term borrowed funds	58			588			467
Weighted-average interest rate during the period:(1)
Federal funds purchased and securities sold under agreements to repurchase	1.24		%	0.66		%	0.92		%
Other short-term borrowed funds	2.75			1.67			2.10

⁽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:

(in millions)	March 31, 2019		December 31, 2018
Parent Company:
2.375% fixed-rate senior unsecured debt, due July 2021		$349		$349
4.150% fixed-rate subordinated debt, due September 2022	348		348
3.750% fixed-rate subordinated debt, due July 2024	250		250
4.023% fixed-rate subordinated debt, due October 2024	42		42
4.350% fixed-rate subordinated debt, due August 2025	249		249
4.300% fixed-rate subordinated debt, due December 2025	750		749
Banking and Other Subsidiaries:
2.500% senior unsecured notes, due March 2019 (1)	—		748
2.450% senior unsecured notes, due December 2019 (1)	745		744
2.250% senior unsecured notes, due March 2020 (1)	694		691
3.155% floating-rate senior unsecured notes, due March 2020 (1) (2)	300		300
3.216% floating-rate senior unsecured notes, due May 2020 (1) (2)	250		250
2.200% senior unsecured notes, due May 2020 (1)	499		499
2.250% senior unsecured notes, due October 2020 (1)	742		738
2.550% senior unsecured notes, due May 2021 (1)	973		964
3.250% senior unsecured notes, due February 2022 (1)	702		—
3.413% floating-rate senior unsecured notes, due February 2022 (1) (2)	299		—
3.456% floating-rate senior unsecured notes, due May 2022 (1) (2)	249		249
2.650% senior unsecured notes, due May 2022 (1)	492		487
3.700% senior unsecured notes, due March 2023 (1)	508		502
3.551% floating-rate senior unsecured notes, due March 2023 (1) (2)	249		249
3.750% senior unsecured notes, due February 2026 (1)	506		—
Federal Home Loan Bank advances, 2.787% weighted average rate, due through 2038	2,508		7,508
Other	21		9
Total long-term borrowed funds		$11,725		$15,925

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

⁽²⁾ Rate disclosed reflects the floating rate as of March 31, 2019.

Schedule of maturities of long-term borrowed funds

A summary of maturities for the Company’s long-term borrowed funds at March 31, 2019 is presented below:

(in millions)	Parent Company		Banking and Other Subsidiaries		Consolidated
Year
2019		$—		$748		$748
2020	—		4,989		4,989
2021	349		978		1,327
2022	348		1,749		2,097
2023	—		759		759
2024 and thereafter	1,291		514		1,805
Total		$1,988		$9,737		$11,725