Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Short-term Debt

The following tables present information with respect to the amounts outstanding and weighted-average interest rates of the primary components of our short-term borrowings as of and for the years ended December 31:

(Dollars in millions)	Securities Sold Under Repurchase Agreements									Federal Funds Purchased
	2023			2022			2021			2023			2022			2021
Balance as of December 31	$	1,867		$	1,177		$	1,575		$	1,000		$	—		$	—
Maximum outstanding as of any month-end	4,690			11,517			1,575			1,000			—			—
Average outstanding during the year	3,904			3,633			667			65			—			—
Weighted-average interest rate as of year-end	.08		%	2.31		%	.00		%	2.03		%	.00		%	.00		%
Weighted-average interest rate during the year	.87			.39			(.00)			4.82			—			—
	Tax-Exempt Investment Program									Other
(Dollars in millions)	2023			2022			2021			2023			2022			2021
Balance as of December 31	$	—		$	—		$	—		$	2,500		$	2,000		$	—
Maximum outstanding as of any month-end	—			—			616			4,500			8,525			—
Average outstanding during the year	—			—			523			784			696			315
Weighted-average interest rate as of year-end	—		%	—		%	—		%	3.43		%	4.18		%	.00		%
Weighted-average interest rate for the year	—			—			.31			5.15			.01			—

The following table presents information about these securities and the carrying value of the related repurchase agreements, including accrued interest, as of December 31, 2023.

	Securities Sold				Repurchase Agreements(1)
(In millions)	Amortized Cost		Fair Value		Amortized Cost
Term maturity(2)	$	1,407	$	1,360	$	1,360
Overnight maturity	364		359		507
Total	$	1,771	$	1,719	$	1,867

(1) Collateralized by investment securities.

(2) Maturity is greater than 90 days.