BORROWED FUNDS (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of short-term borrowed funds

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

	December 31,
(in millions)	2019		2018
Securities sold under agreements to repurchase		$265		$336
Federal funds purchased	—		820
Other short-term borrowed funds	9		161
Total short-term borrowed funds		$274		$1,317

The following table presents key data related to the Company’s short-term borrowed funds:

	As of and for the Year Ended December 31,
(dollars in millions, except ratio data)	2019			2018			2017
Weighted-average interest rate at year-end: (1)
Federal funds purchased and securities sold under agreements to repurchase	0.41		%	1.72		%	0.74		%
Other short-term borrowed funds	3.85			2.73			1.33
Maximum amount outstanding at any month-end during the year:
Federal funds purchased and securities sold under agreements to repurchase (2)		$1,499			$1,282			$1,174
Other short-term borrowed funds	511			1,110			2,759
Average amount outstanding during the year:
Federal funds purchased and securities sold under agreements to repurchase (2)		$599			$654			$776
Other short-term borrowed funds	66			467			1,571
Weighted-average interest rate during the year: (1)
Federal funds purchased and securities sold under agreements to repurchase	1.36		%	0.92		%	0.36		%
Other short-term borrowed funds	2.50			2.10			1.09

⁽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

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

	December 31,
(in millions)	2019		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
2.850% fixed-rate senior unsecured notes, due July 2026	496		—
CBNA’s Global Note Program:
2.500% senior unsecured notes, due March 2019	—		748
2.450% senior unsecured notes, due December 2019	—		744
2.250% senior unsecured notes, due March 2020	700		691
2.447% floating-rate senior unsecured notes, due March 2020 (1)	300		300
2.487% floating-rate senior unsecured notes, due May 2020 (1)	250		250
2.200% senior unsecured notes, due May 2020	500		499
2.250% senior unsecured notes, due October 2020	750		738
2.550% senior unsecured notes, due May 2021	991		964
3.250% senior unsecured notes, due February 2022	711		—
2.629% floating-rate senior unsecured notes, due February 2022 (1)	299		—
2.727% floating-rate senior unsecured notes, due May 2022 (1)	250		249
2.650% senior unsecured notes, due May 2022	501		487
3.700% senior unsecured notes, due March 2023	515		502
2.911% floating-rate senior unsecured notes, due March 2023 (1)	249		249
3.750% senior unsecured notes, due February 2026	521		—
Additional Borrowings by CBNA and Other Subsidiaries:
Federal Home Loan Bank advances, 2.006% weighted average rate, due through 2038	5,008		7,508
Other	18		9
Total long-term borrowed funds		$14,047		$15,925

⁽¹⁾ Rate disclosed reflects the floating rate as of December 31, 2019.

Schedule of maturities of long-term borrowed funds

The following table presents a summary of maturities for the Company’s long-term borrowed funds at December 31, 2019:

(in millions)	Parent Company		CBNA and Other Subsidiaries		Consolidated
Year
2020		$—		$2,504		$2,504
2021	349		5,998		6,347
2022	348		1,767		2,115
2023	—		765		765
2024	292		1		293
2025 and thereafter	1,495		528		2,023
Total		$2,484		$11,563		$14,047