Quarterly report [Sections 13 or 15(d)]

BORROWINGS (Tables)

v3.25.1
BORROWINGS (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following.
(dollar amounts in millions) At March 31, 2025 At December 31, 2024
Securities sold under agreements to repurchase $ 132  $ 142 
Other borrowings 532  57 
Total short-term borrowings $ 664  $ 199 
Schedule of Long-term Debt Instruments
The following table summarizes the composition of Huntington’s long-term debt.
(dollar amounts in millions) At March 31, 2025 At December 31, 2024
The Parent Company:
Senior Notes $ 5,922  $ 5,836 
Subordinated Notes 1,361  1,341 
Total notes issued by the Parent Company
 7,283  7,177 
The Bank:
Senior Notes 3,172  1,654 
Subordinated Notes 389  515 
Total notes issued by the Bank
 3,561  2,169 
FHLB Advances
 4,707  4,696 
Auto Loan Securitization Trust (1)
911  1,023 
Credit Linked Notes (2)
1,143  821 
Other 491  488 
Total long-term debt $ 18,096  $ 16,374 
(1)     Represents secured borrowings collateralized by auto loans with a weighted average rate of 5.29% due through 2029. See Note 14 - “Variable Interest Entities” for additional information.
(2)    As of March 31, 2025, the weighted average contractual interest rate on the CLNs was 6.02%. Huntington has elected the fair value option for these notes. To the extent losses exceed certain thresholds, the principal and interest payable on the notes may be reduced by a portion of the Company's aggregate net losses on the reference pool of loans, with losses allocated to note classes in reverse order of payment priority.