v3.25.2
Borrowings - Schedule of Borrowings (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Short-term borrowings    
Repurchase agreements $ 71 $ 60
Advances from FHLB 2,000 1,000
Total short-term borrowings 2,071 1,060
Long-term borrowings    
Senior notes 3,744 3,745
Advances from FHLB 4 2,004
Subordinated notes 485 474
Other 10 10
Total long-term borrowings [1] 12,380 12,605
M&T    
Long-term borrowings    
Senior notes 5,594 4,710
Junior subordinated debentures — M&T (a) 402 433
Asset-backed notes (a) $ 2,141 $ 1,229
[1] Loans of $2.5 billion and $1.5 billion at June 30, 2025 and December 31, 2024, respectively, were held in special purpose trusts to settle the respective obligations of asset-backed notes issued by those trusts. The outstanding balances of those asset-backed notes issued to third party investors were included in Long-term borrowings and were $2.1 billion at June 30, 2025 and $1.2 billion at December 31, 2024.