v3.26.1
Borrowings
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Borrowings
13. Borrowings

The following table presents a summary of our short-term borrowings:

  
Dollars in millionsMarch 31, 2026December 31, 2025
Securities sold under repurchase agreements$34 $13 
Other short-term borrowings6,149 1,071 

Long-term borrowings

The following table presents the contractual rates and maturity dates of our long-term debt as of March 31, 2026 and the carrying values as of March 31, 2026 and December 31, 2025. We use interest rate swaps and caps, which modify the repricing characteristics of certain long-term debt, to manage interest rate risk. For more information about such financial instruments, see Note 7 (“Derivatives and Hedging Activities”). 

March 31, 2026March 31, 2026December 31, 2025
Dollars in millionsStated RateMaturityCarrying Value
Parent Company
Senior notes
2.25% - 6.40%
2027 - 2037
$5,394 $4,659 
Junior subordinated debentures
4.66% - 7.75%
2028 - 2037
445 447 
Total parent company$5,839 $5,106 
Subsidiaries
Senior notes
3.75% - 5.85%
2027 - 2039
$2,222 $2,229 
Subordinated notes
3.40% - 6.95%
2026 - 2032
1,930 1,932 
Federal Home Loan Bank advances
1.39% - 7.36%
2026 - 2042
808 560 
Other long-term debt(a)
78 90 
Total subsidiaries$5,038 $4,811 
Total long-term debt$10,877 $9,917 
(a)Includes debt associated with secured borrowings, investment fund financing, and capital lease obligations.