Deposits and Borrowings (Tables)

3 Months Ended

Mar. 31, 2016

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 March 31, 2016 and December 31, 2015. 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 debt issuance costs and fair value hedge accounting adjustments.

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



(Dollars in millions)	March 31, 2016		December 31, 2015
Deposits:
Non-interest bearing deposits	$	25,182	$	25,847
Interest-bearing deposits	196,597		191,874
Total deposits	$	221,779	$	217,721
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	917	$	981
Total short-term borrowings	$	917	$	981



	March 31, 2016
(Dollars in millions)	Maturity Dates	Interest Rates	Weighted- Average Interest Rate	Outstanding Amount		December 31, 2015
Long-term debt:
Securitized debt obligations⁽¹⁾	2016 - 2025	0.48 - 5.75%	1.48%	$	14,913	$	16,166
Senior and subordinated notes:⁽¹⁾
Fixed unsecured senior debt	2016 - 2025	1.15 - 6.75	2.72	16,837		16,559
Floating unsecured senior debt	2018 - 2018	1.30 - 1.77	1.50	699		1,198
Total unsecured senior debt			2.67	17,536		17,757
Fixed unsecured subordinated debt	2016 - 2025	3.38 - 8.80	4.70	4,200		4,080
Total senior and subordinated notes				21,736		21,837
Other long-term borrowings:
FHLB advances	2016 - 2025	0.39 - 6.41	0.50	12,898		20,098
Capital lease obligations	2016 - 2035	3.09 - 12.86	4.17	33		33
Total other long-term borrowings				12,931		20,131
Total long-term debt				$	49,580	$	58,134
Total short-term borrowings and long-term debt				$	50,497	$	59,115

___________


⁽¹⁾	Outstanding amount includes any fair value hedge accounting adjustments.

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 months ended March 31, 2016 and 2015:

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



	Three Months Ended March 31,
(Dollars in millions)	2016		2015
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	1	$	0
FHLB advances	0		8
Total short-term borrowings	1		8
Long-term debt:
Securitized debt obligations⁽¹⁾	48		33
Senior and subordinated notes⁽¹⁾	106		79
Other long-term borrowings	23		7
Total long-term debt	177		119
Total interest expense on short-term borrowings and long-term debt	$	178	$	127

__________


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