BORROWED FUNDS (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of short-term debt

Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following:

(dollars in millions)	September 30, 2025	December 31, 2024
Other short-term borrowed funds(1)	$214	$—
Total short-term borrowed funds	$214	$—

(1) Consists primarily of short positions held by the Company’s commercial broker dealer. See Note 8 for additional information regarding forward purchase contracts entered into to economically hedge these short positions.

Schedule of long-term borrowed funds

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

(dollars in millions)	September 30, 2025	December 31, 2024
Parent Company:
4.350% fixed-rate subordinated debt, due August 2025	$—	$133
4.300% fixed-rate subordinated debt, due December 2025	336	336
2.850% fixed-rate senior unsecured notes, due July 2026	500	499
5.841% fixed/floating-rate senior unsecured notes, due January 2030	1,246	1,245
2.500% fixed-rate senior unsecured notes, due February 2030	299	299
3.250% fixed-rate senior unsecured notes, due April 2030	747	747
3.750% fixed-rate reset subordinated debt, due February 2031	69	69
4.300% fixed-rate reset subordinated debt, due February 2031	135	135
4.350% fixed-rate reset subordinated debt, due February 2031	60	60
5.253% fixed/floating-rate senior unsecured notes, due March 2031	746	—
5.718% fixed/floating-rate senior unsecured notes, due July 2032	1,244	1,243
2.638% fixed-rate subordinated debt, due September 2032	575	570
6.645% fixed/floating-rate senior unsecured notes, due April 2035	746	745
5.641% fixed-rate reset subordinated debt, due May 2037	398	398
CBNA’s Global Note Program:
2.250% senior unsecured notes, due April 2025	—	750
5.284% fixed/floating-rate senior unsecured notes, due January 2026(1)	—	350
3.750% senior unsecured notes, due February 2026	499	492
4.575% fixed/floating-rate senior unsecured notes, due August 2028	799	798
Additional Borrowings by CBNA and Other Subsidiaries:
Federal Home Loan Bank advances, 2.196% weighted average rate, due through 2045(2)	13	53
Secured borrowings, 5.536% weighted average rate, due through 2031(2)(3)	2,009	3,461
Other	20	18
Total long-term borrowed funds	$10,441	$12,401

(1) Notes were redeemed on January 27, 2025.

(2) Rate disclosed reflects the weighted average rate as of September 30, 2025.

(3) Collateralized by loans. See Note 6 for additional information.