Quarterly report pursuant to Section 13 or 15(d)

BORROWINGS

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BORROWINGS
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
BORROWINGS BORROWINGS
Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following at September 30, 2023 and December 31, 2022, respectively: 
(dollar amounts in millions) At September 30, 2023 At December 31, 2022
Federal funds purchased and securities sold under agreements to repurchase $ 656  $ 253 
FHLB advances —  1,700 
Other borrowings 25  74 
Total short-term borrowings $ 681  $ 2,027 
Huntington’s long-term debt consisted of the following at September 30, 2023 and December 31, 2022, respectively:
(dollar amounts in millions) At September 30, 2023 At December 31, 2022
The Parent Company:
Senior Notes $ 4,116  $ 3,005 
Subordinated Notes 730  975 
Total notes issued by the parent 4,846  3,980 
The Bank:
Senior Notes 4,114  4,272 
Subordinated Notes 651  651 
Total notes issued by the bank 4,765  4,923 
FHLB Advances (1)
 2,707  211 
Other 504  572 
Total long-term debt $ 12,822  $ 9,686 
(1)    4.21% weighted average rate, varying maturities greater than one year.
During the 2023 third quarter, Huntington issued $1.3 billion of fixed-to-floating senior notes. The fixed-to-floating senior notes are due August 21, 2029 and bear an initial fixed interest rate of 6.208%. Commencing August 21, 2028, the interest rate will reset to a floating rate equal to a benchmark rate based on the Compounded SOFR Index Rate plus 202 basis points.