v3.25.4
SHORT-TERM BORROWINGS
 12 Months Ended
Dec. 31, 2025
Short-Term Debt [Abstract]  
SHORT-TERM BORROWINGS SHORT-TERM BORROWINGS
The following schedule presents selected information for FHLB advances and other short-term borrowings:
(Dollar amounts in millions)20252024
Federal Home Loan Bank advances
Average amount outstanding$3,837 $1,665 
Average rate4.47 %4.89 %
Highest month-end balance$5,500 $2,525 
Year-end balance2,000 2,525 
Average rate on outstanding advances at year-end3.97 %4.78 %
Other short-term borrowings, year-end balances
Federal funds purchased$244 $108 
Security repurchase agreements493 764 
Securities sold, not yet purchased135 20 
Swap margin collateral received 232 415 
Total federal funds and other short-term borrowings$3,104 $3,832 
We pledge loans and investment securities as collateral to support both current and potential borrowings. We may borrow from the FHLB under lines of credit secured through blanket pledge arrangements. We maintain collateral with carrying amounts adjusted for the types of collateral pledged, ensuring they equal at least 100% of outstanding advances. Additionally, we may borrow from the Federal Reserve Board (“FRB”) based on the amount of collateral we have pledged.
A significant portion of the assets pledged to the FHLB and FRB are unencumbered, but are pledged to provide immediate access to contingency funding sources. At December 31, 2025, our unused borrowing capacity under FHLB and FRB collateralized arrangements was $15.4 billion and $18.4 billion, respectively, compared with $12.0 billion and $17.7 billion at December 31, 2024.
Federal funds purchased and securities sold under repurchase agreements generally have maturities of less than 30 days. We enter into overnight repurchase agreements with sweep accounts under a master repurchase agreement structure. In these arrangements, securities under our control are pledged, and interest is paid on customers’ collected account balances. For nonsweep overnight and term repurchase agreements, securities are delivered to the applicable counterparties, who in certain instances, have the contractual right to sell or repledge the collateral. At December 31, 2025, nearly all outstanding security repurchase agreements were overnight term transactions.