Deposits and Borrowings (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

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

The following tables summarize the components of our deposits, short-term borrowings and long-term debt as of June 30, 2021 and December 31, 2020. The carrying value presented below for these borrowings includes unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments.

Table 7.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt

(Dollars in millions)	June 30, 2021		December 31, 2020
Deposits:
Non-interest-bearing deposits	$	34,994	$	31,142
Interest-bearing deposits(1)	271,314		274,300
Total deposits	$	306,308	$	305,442
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	845	$	668
Total short-term borrowings	$	845	$	668

	June 30, 2021						December 31, 2020
(Dollars in millions)	Maturity Dates	Stated Interest Rates	Weighted-Average Interest Rate		Carrying Value		Carrying Value
Long-term debt:
Securitized debt obligations	2021-2026	0.42% - 2.84%	1.85	%	$	10,561	$	12,414
Senior and subordinated notes:
Fixed unsecured senior debt(2)	2021-2029	0.80 - 4.75	3.20		18,883		21,045
Floating unsecured senior debt	2022-2023	0.91 - 1.34	1.09		1,359		1,609
Total unsecured senior debt			3.06		20,242		22,654
Fixed unsecured subordinated debt	2023-2026	3.38 - 4.20	3.78		4,636		4,728
Total senior and subordinated notes					24,878		27,382
Other long-term borrowings:
Finance lease liabilities	2021-2031	0.25 - 9.91	4.07		59		75
Total other long-term borrowings					59		75
Total long-term debt					$	35,498	$	39,871
Total short-term borrowings and long-term debt					$	36,343	$	40,539

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(1)Includes $2.1 billion and $4.2 billion of time deposits in denominations in excess of the $250,000 federal insurance limit as of June 30, 2021 and December 31, 2020, respectively.

(2)Includes $1.5 billion and $1.6 billion of EUR-denominated unsecured notes as of June 30, 2021 and December 31, 2020, respectively.