Deposits and Borrowings (Tables)

9 Months Ended

Sep. 30, 2015

Components of Deposits, Short-term Borrowings and Long-term Debt

The table below summarizes the components of our deposits, short-term borrowings and long-term debt as of September 30, 2015 and December 31, 2014. Our total short-term borrowings consist of federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings with an original contractual maturity of one year or less. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The amounts presented for outstanding borrowings include unamortized debt premiums and discounts, net of fair value hedge accounting adjustments.

Table 8.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt



(Dollars in millions)	September 30, 2015		December 31, 2014
Deposits:
Non-interest bearing deposits	$	25,055	$	25,081
Interest-bearing deposits	187,848		180,467
Total deposits	$	212,903	$	205,548
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	1,021	$	880
FHLB advances	0		16,200
Total short-term borrowings	$	1,021	$	17,080



	September 30, 2015
(Dollars in millions)	Maturity Dates	Interest Rates	Weighted- Average Interest Rate	Outstanding Amount		December 31, 2014
Long-term debt:
Securitized debt obligations⁽¹⁾	2015 - 2025	0.25 - 5.75%	1.37%	$	15,656	$	11,624
Senior and subordinated notes:⁽¹⁾
Fixed unsecured senior debt	2015 - 2025	1.00 - 6.75%	2.65	17,539		15,174
Floating unsecured senior debt	2015 - 2018	0.77 - 1.47%	1.00	1,580		880
Total unsecured senior debt			2.51	19,119		16,054
Fixed unsecured subordinated debt	2016 - 2023	3.38 - 8.80%	4.97	2,654		2,630
Total senior and subordinated notes				21,773		18,684
Other long-term borrowings:
FHLB advances	2015 - 2025	0.25 - 6.41%	0.32	4,304		1,069
Capital lease obligations	2016 - 2034	3.09 - 12.86%	4.24	24		0
Total other long-term borrowings				4,328		1,069
Total long-term debt				41,757		31,377
Total short-term borrowings and long-term debt				$	42,778	$	48,457

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⁽¹⁾	Outstanding amount includes the impact from hedge accounting.

Schedule of Components of Interest Expense on Short-Term Borrowings and Long-Term Debt

The following table displays interest expense attributable to short-term borrowings and long-term debt for the three and nine months ended September 30, 2015 and 2014:

Table 8.2: Components of Interest Expense on Short-Term Borrowings and Long-Term Debt



	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in millions)	2015		2014		2015		2014
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	0	$	0	$	1	$	1
FHLB advances	0		6		9		15
Total short-term borrowings	0		6		10		16
Long-term debt:
Securitized debt obligations⁽¹⁾	39		32		108		109
Senior and subordinated notes⁽¹⁾	82		71		241		226
Other long-term borrowings	12		10		29		20
Total long-term debt	133		113		378		355
Total interest expense on short-term borrowings and long-term debt	$	133	$	119	$	388	$	371

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⁽¹⁾	Interest expense includes the impact from hedge accounting.