Short-Term Borrowings

12 Months Ended

Dec. 31, 2024

Short-Term Debt [Abstract]

Short-Term Borrowings

Short-Term Borrowings

Short-term borrowings consisted of the following:

	December 31,
	2024		Rate		2023		Rate
	(dollars are in millions)
Federal funds purchased (day to day)	$	—	—	%	$	3,355	5.49	%
Securities sold under repurchase agreements	1,149		*		267		*
Commercial paper	5,660		5.40		5,440		6.28
Other	543				852
Total short-term borrowings	$	7,352			$	9,914

*The rate on securities sold under repurchase agreements is not meaningful as the denominator used in the calculation reflects the net amount presented in the balance sheet.