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Long-Term Debt
 12 Months Ended
Dec. 31, 2023
Long-Term Debt, Unclassified [Abstract]  
Long-Term Debt Long-Term Debt
(Dollars in millions)As of December 31,
Issuance DateMaturity DateCoupon RateSeniorityInterest Due Dates20232022
Parent Company and Non-Banking Subsidiary Issuances
August 18, 2015
August 18, 2025(3)
3.550 %Senior notes
2/18; 8/18(1)
$1,265 $1,256 
August 3, 2023August 3, 20265.272 %Senior notes
2/3; 8/3(1)
1,211 — 
May 18, 2023May 18, 20265.104 %Fixed-to-floating rate senior notes5/18; 11/18998 — 
May 18, 2023May 18, 20345.159 %Fixed-to-floating rate senior notes5/18; 11/18995 — 
November 21, 2023November 21, 20295.684 %Fixed-to-floating rate senior notes5/21; 11/21995 — 
December 15, 2014
December 16, 2024(3)
3.300 %Senior notes
6/16; 12/16(1)
977 962 
November 1, 2019November 1, 20252.354 %Fixed-to-floating rate senior notes
5/1; 11/1(1)
972 951 
March 3, 2021
March 3, 2031(2)(3)
2.200 %Senior subordinated notes3/3; 9/3845 844 
January 24, 2020
January 24, 2030(3)
2.400 %Senior notes
1/24, 7/24(1)
790 797 
January 26, 2023January 26, 20344.821 %Fixed-to-floating rate senior notes
1/26, 7/26(1)
731 — 
May 19, 2016
May 19, 2026(3)
2.650 %Senior notes
5/19; 11/19(1)
719 709 
August 4, 2022August 4, 20334.164 %Fixed-to-floating rate senior notes
2/4; 8/4(1)
687 677 
February 7, 2022February 7, 20282.203 %Fixed-to-floating rate senior notes
2/7; 8/7(1)
605 589 
December 3, 2018December 3, 20294.141 %Fixed-to-floating rate senior notes
6/3; 12/3(1)
556 564 
November 1, 2019
November 1, 2034(2)
3.031 %Fixed-to-floating rate senior subordinated notes
5/1; 11/1(1)
528 532 
April 30, 2007June 15, 2047Floating-rateJunior subordinated debentures3/15; 6/15; 9/15; 12/15500 500 
November 4, 2022November 4, 20265.751 %Fixed-to-floating rate senior notes
5/4; 11/4(1)
497 498 
March 30, 2020March 30, 20313.152 %Fixed-to-floating rate senior notes3/30, 9/30498 498 
November 4, 2022November 4, 20285.820 %Fixed-to-floating rate senior notes
5/4; 11/4(1)
497 497 
May 13, 2022May 13, 20334.421 %Fixed-to-floating rate senior notes5/13; 11/13497 497 
November 21, 2023
November 21, 2034(2)
6.123 %Fixed-to-floating rate senior subordinated notes5/21; 11/21497 — 
November 18, 2021November 18, 20271.684 %Fixed-to-floating rate senior notes
5/18; 11/18(1)
496 497 
January 26, 2023January 26, 20264.857 %Fixed-to-floating rate senior notes
1/26, 7/26(1)
496 — 
March 30, 2020March 30, 20262.901 %Fixed-to-floating rate senior notes
3/30; 9/30(1)
485 473 
February 7, 2022February 7, 20332.623 %Fixed-to-floating rate senior notes
2/7; 8/7(1)
476 466 
August 3, 2023August 3, 2026Floating-rateSenior notes2/3; 5/3; 8/3; 11/3299 — 
February 7, 2022February 6, 20261.746 %Fixed-to-floating rate senior notes
2/6; 8/6(1)
290 280 
June 21, 1996
June 15, 2026(3)
7.350 %Senior notes6/15; 12/15150 150 
May 15, 1998May 15, 2028Floating-rateJunior subordinated debentures2/15; 5/15; 8/15; 11/15100 100 
May 15, 2013
May 15, 2023(2)
3.100 %Subordinated notes
5/15; 11/15(1)
— 1,006 
November 19, 2013November 20, 20233.700 %Senior notes
5/20; 11/20(1)
— 985 
December 3, 2018
December 3, 2024(4)
3.776 %Fixed-to-floating rate senior notes
6/3; 12/3(1)
— 492 
Parent Company and Banking Subsidiaries
Long-term finance leases and equipment financing187 176 
Total long-term debt$18,839 $14,996 
(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, 2023 and 2022, the carrying value of long-term debt associated with these fair value hedges was $184 million and $282 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.
(4) We redeemed the notes prior to original maturity date.
Parent Company and Banking Subsidiaries
As of December 31, 2023 and 2022, long-term finance leases related to information technology equipment was $130 million and $176 million, respectively. Refer to Note 20 for additional information.