BORROWINGS (Tables)

The following table presents the Parent Company and its subsidiaries' borrowings and other debt obligations at the dates indicated:


	September 30, 2026				December 31, 2025
(dollars in millions)	Balance		Effective Rate		Balance		Effective Rate
Parent Company Borrowings
Senior notes, due various dates through June 2037 (1) (2)	14,420		2.57% - 7.73%		11,823		2.57% - 7.73%
Subordinated notes, due various dates through September 2035 (3)	1,430		2.88% - 7.18%		1,000		2.88% - 7.18%
CLNs, due various dates through November 2035	690		6.84	%	—		—	%
Subsidiary Borrowings
Short-term borrowing due within one year, maturing through December 2026	475		3.36	%	691		3.61	%
FHLB advances, maturing through September 2039	11,609		4.15	%	708		4.16	%
CLNs, due various dates through February 2052	1,203		6.09% - 19.36%		914		6.37% - 16.29%
Warehouse lines with third parties, maturing through April 2028	—		—%		215		4.67	%
Warehouse lines with Santander, maturing through October 2027	—		—	%	2,000		4.44	%
Secured structured financings, maturing through May 2034	12,989		0.59% -6.73%		19,751		0.58% - 7.69%
Total Parent Company and subsidiaries' borrowings and other debt obligations	$	42,816			$	37,102

(1) The Company has entered into fair value hedges for various senior notes. Refer to Note 13 for additional information.

(2) Includes $2.0 billion payable to Santander

(3) Includes $1.0 billion payable to Santander

The following tables present information regarding the Company's warehouse lines at the dates indicated:


	September 30, 2026
(dollars in millions)	Balance		Committed Amount		Effective Rate		Assets Pledged		Restricted Cash Pledged
















Warehouse line with Santander due October 2027	$	—	$	2,000	—	%	$	—	$	36

The following tables present information regarding the Company's secured structured financings at the dates indicated:


	September 30, 2026
(dollars in millions)	Balance		Initial Note Amounts Issued (3)		Initial Weighted Average Interest Rate Range	Collateral (2)		Restricted Cash
Public securitizations maturing on various dates through May 2034(1)	$	12,608	$	42,139	0.59% - 6.45%	$	16,997	$	1,337
Privately issued amortizing notes maturing on various dates through August 2030 (3)	381		7,233		3.13% - 6.73%	870		53
Total secured structured financings	$	12,989	$	49,372	0.59% - 6.73%	$	17,867	$	1,390

(1) Securitizations executed under Rule 144A of the Securities Act are included within this balance.

(2) Secured structured financings may be collateralized by collateral overages of other issuances.