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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Long-Term Debt, Unclassified [Abstract]  
Schedule of 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.