Deposits and Borrowings (Tables)

3 Months Ended

Mar. 31, 2017

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, 2017 and December 31, 2016. Our total short-term borrowings consist of federal funds purchased and securities loaned or sold under agreements to repurchase. 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, 2017		December 31, 2016
Deposits:
Non-interest-bearing deposits	$	26,364	$	25,502
Interest-bearing deposits	214,818		211,266
Total deposits	$	241,182	$	236,768
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	1,046	$	992
Total short-term borrowings	$	1,046	$	992



	March 31, 2017
(Dollars in millions)	Maturity Dates	Interest Rates	Weighted- Average Interest Rate	Outstanding Amount		December 31, 2016
Long-term debt:
Securitized debt obligations⁽¹⁾	2017 - 2025	0.95 - 5.75%	1.83%	$	18,528	$	18,826
Senior and subordinated notes:⁽¹⁾
Fixed unsecured senior debt	2017 - 2027	1.30 - 6.75	2.71	19,628		17,546
Floating unsecured senior debt	2018 - 2023	1.71 - 2.19	1.98	2,249		1,353
Total unsecured senior debt			2.64	21,877		18,899
Fixed unsecured subordinated debt	2019 - 2026	3.38 - 8.80	4.09	4,528		4,532
Total senior and subordinated notes				26,405		23,431
Other long-term borrowings:
FHLB advances	2017 - 2023	0.70 - 6.41	0.75	2,428		17,179
Capital lease obligations	2024 - 2035	3.09 - 12.86	4.16	32		32
Total other long-term borrowings				2,460		17,211
Total long-term debt				$	47,393	$	59,468
Total short-term borrowings and long-term debt				$	48,439	$	60,460

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⁽¹⁾	Outstanding amount includes 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, 2017 and 2016:

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



	Three Months Ended March 31,
(Dollars in millions)	2017		2016
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	1	$	1
Total short-term borrowings	1		1
Long-term debt:
Securitized debt obligations⁽¹⁾	69		48
Senior and subordinated notes⁽¹⁾	149		106
Other long-term borrowings	24		23
Total long-term debt	242		177
Total interest expense on short-term borrowings and long-term debt	$	243	$	178

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