Deposits and Borrowings (Tables)

12 Months Ended

Dec. 31, 2015

Deposits and Borrowings [Abstract]

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 December 31, 2015 and 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 10.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt

(Dollars in millions)	December 31, 2015		December 31, 2014
Deposits:
Non-interest bearing deposits	$	25,847	$	25,081
Interest-bearing deposits	191,874		180,467
Total deposits	$	217,721	$	205,548
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	981	$	880
FHLB advances	0		16,200
Total short-term borrowings	$	981	$	17,080

	December 31, 2015
(Dollars in millions)	Maturity Dates	Interest Rates	Weighted- Average Interest Rate	Outstanding Amount		December 31, 2014
Long-term debt:
Securitized debt obligations(1)	2016 - 2025	0.37 - 5.75%	1.46%	$	16,166	$	11,624
Senior and subordinated notes:(1)
Fixed unsecured senior debt	2016 - 2025	1.15 - 6.75%	2.72	16,559		15,174
Floating unsecured senior debt	2016 - 2018	0.86 - 1.51%	1.11	1,198		880
Total unsecured senior debt			2.61	17,757		16,054
Fixed unsecured subordinated debt	2016 - 2025	3.38 - 8.80%	4.70	4,080		2,630
Total senior and subordinated notes				21,837		18,684
Other long-term borrowings:
FHLB advances	2016 - 2025	0.28 - 6.41%	0.40	20,098		1,069
Capital lease obligations	2016 - 2035	3.09 - 12.86%	4.17	33		0
Total other long-term borrowings				20,131		1,069
Total long-term debt				$	58,134	$	31,377
Total short-term borrowings and long-term debt				$	59,115	$	48,457

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

Schedule of Maturity Profile of Borrowings and Debt

Interest-bearing deposits, securitized debt obligations and other debt as of December 31, 2015 mature as follows:

Table 10.2: Maturity Profile of Borrowings and Debt

(Dollars in millions)	2016		2017		2018		2019		2020		Thereafter		Total
Interest-bearing time deposits(1)	$	4,864	$	2,080	$	1,992	$	1,544	$	2,479	$	121	$	13,080
Securitized debt obligations	3,519		7,234		2,361		1,136		1,564		352		16,166
Federal funds purchased and securities loaned or sold under agreements to repurchase	981		0		0		0		0		0		981
Senior and subordinated notes	2,430		3,082		4,674		3,834		0		7,817		21,837
Other borrowings	19		19		11		2		1,001		19,079		20,131
Total	$	11,813	$	12,415	$	9,038	$	6,516	$	5,044	$	27,369	$	72,195

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⁽¹⁾  Includes only those interest-bearing deposits which have a contractual maturity date.

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 years ended December 31, 2015, 2014 and 2013:

Table 10.3: Components of Interest Expense on Short-Term Borrowings and Long-Term Debt

	Year Ended December 31,
(Dollars in millions)	2015		2014		2013
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	1	$	2	$	1
FHLB advances	9		19		28
Total short-term borrowings	10		21		29
Long-term debt:
Securitized debt obligations(1)	151		145		183
Senior and subordinated notes(1)	330		299		315
Other long-term borrowings	43		26		24
Total long-term debt	524		470		522
Total interest expense on short-term borrowings and long-term debt	$	534	$	491	$	551

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