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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2021
Long-term Debt, Unclassified [Abstract]  
Schedule of Long-term Debt
(Dollars in millions)As of December 31,
Issuance DateMaturity DateCoupon RateSeniorityInterest Due Dates20212020
Parent Company and Non-Banking Subsidiary Issuances
August 18, 2015August 18, 20253.55 %Senior notes
2/18; 8/18(1)
$1,370 $1,413 
November 19, 2013November 20, 20233.7 %Senior notes
5/20; 11/20(1)
1,043 1,070 
December 15, 2014December 16, 20243.3 %Senior notes
6/16; 12/16(1)
1,040 1,075 
May 15, 2013
May 15, 2023(2)
3.1 %Subordinated notes5/15; 11/151,022 1,039 
November 1, 2019November 1, 20252.354 %Fixed-to-floating rate senior notes
5/1; 11/1(1)
1,019 1,047 
March 3, 2021March 3, 20312.2 %Senior subordinated notes3/3; 9/3843 — 
January 24, 2020January 24, 20302.400 %Senior notes1/24, 7/24803 821 
May 19, 2016May 19, 20262.65 %Senior notes
5/19; 11/19(1)
779 796 
May 15, 2017May 15, 20232.653 %Fixed-to-floating rate senior notes5/15; 11/15754 766 
March 30, 2020March 30, 20232.825 %Fixed-to-floating rate senior notes3/30, 9/30749 748 
December 3, 2018December 3, 20294.141 %Fixed-to-floating rate senior notes6/3; 12/3583 594 
November 1, 2019
November 1, 2034(2)
3.031 %Fixed-to-floating rate senior subordinated notes5/1; 11/1541 546 
December 3, 2018December 3, 20243.776 %Fixed-to-floating rate senior notes
6/3; 12/3(1)
523 538 
April 30, 2007June 15, 2047Floating-rateJunior subordinated debentures3/15; 6/15; 9/15; 12/15499 499 
March 30, 2020March 30, 20262.901 %Fixed-to-floating rate senior notes3/30, 9/30498 498 
March 30, 2020March 30, 20313.152 %Fixed-to-floating rate senior notes3/30, 9/30498 497 
November 18, 2021November 18, 20271.684 %Fixed-to-floating rate senior notes5/18; 11/18497 — 
June 21, 1996
June 15, 2026(3)
7.35 %Senior notes6/15; 12/15150 150 
May 15, 1998May 15, 2028Floating-rateJunior subordinated debentures2/15; 5/15; 8/15; 11/15100 100 
March 7, 2011March 7, 20214.375 %Senior notes
3/7; 9/7(1)
— 752 
May 19, 2016May 19, 20211.95 %Senior notes
5/19; 11/19(1)
— 753 
Parent Company and Banking Subsidiaries
Long-term finance leases164 103 
Total long-term debt$13,475 $13,805 
(1) We have entered into interest rate swap agreements, recorded as fair value hedges, to modify our interest expense on these senior and subordinated notes from a fixed rate to a floating rate. As of December 31, 2021 and 2020, the carrying value of long-term debt associated with these fair value hedges was $450 million and $691 million, respectively. Refer to Note 10 for additional information about fair value hedges.
(2) The subordinated notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.
(3) We may not redeem notes prior to their maturity.