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BORROWED FUNDS (Tables)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Schedule of long-term borrowed funds
The following table presents a summary of the Company’s long-term borrowed funds:
(in millions)June 30, 2021December 31, 2020
Parent Company:
2.375% fixed-rate senior unsecured debt, due July 2021 (1)
$— $350 
4.150% fixed-rate subordinated debt, due September 2022 (2)
168 182 
3.750% fixed-rate subordinated debt, due July 2024 (2)
90 159 
4.023% fixed-rate subordinated debt, due October 2024 (2)
17 25 
4.350% fixed-rate subordinated debt, due August 2025 (2)
133 193 
4.300% fixed-rate subordinated debt, due December 2025 (2)
336 450 
2.850% fixed-rate senior unsecured notes, due July 2026
497 497 
2.500% fixed-rate senior unsecured notes, due February 2030
298 297 
3.250% fixed-rate senior unsecured notes, due April 2030
745 745 
3.750% fixed-rate reset subordinated debt, due February 2031 (2)
69 — 
4.300% fixed-rate reset subordinated debt, due February 2031 (2)
135 — 
4.350% fixed-rate reset subordinated debt, due February 2031 (2)
60 — 
2.638% fixed-rate subordinated debt, due September 2032
547 543 
CBNA’s Global Note Program:
2.550% senior unsecured notes, due May 2021
— 1,003 
3.250% senior unsecured notes, due February 2022
708 716 
0.874% floating-rate senior unsecured notes, due February 2022 (3)
300 299 
0.951% floating-rate senior unsecured notes, due May 2022 (3)
250 250 
2.650% senior unsecured notes, due May 2022
507 510 
3.700% senior unsecured notes, due March 2023
520 527 
1.096% floating-rate senior unsecured notes, due March 2023 (3)
250 249 
2.250% senior unsecured notes, due April 2025
746 746 
3.750% senior unsecured notes, due February 2026
536 551 
Additional Borrowings by CBNA and Other Subsidiaries:
Federal Home Loan Bank advances, 0.909% weighted average rate, due through 2038
18 19 
Other27 35 
Total long-term borrowed funds$6,957 $8,346 
(1) Notes were redeemed on June 28, 2021.
(2) June 30, 2021 balances reflect the February 2021 completion of $265 million in private exchange offers for five series of outstanding subordinated notes whereby participants received newly issued 3.750%, 4.300%, and 4.350% fixed-rate reset subordinated notes due 2031 which are redeemable by the Company five years prior to their maturity.
(3) Rate disclosed reflects the floating rate as of June 30, 2021.
Schedule of maturities of long-term borrowed funds
The following table presents a summary of maturities for the Company’s long-term borrowed funds at June 30, 2021:
(in millions)Parent CompanyCBNA and Other SubsidiariesConsolidated
Year
2021$— $4 $4 
2022168 1,771 1,939 
2023— 771 771 
2024107 — 107 
2025469 760 1,229 
2026 and thereafter2,351 556 2,907 
Total$3,095 $3,862 $6,957