Quarterly report pursuant to Section 13 or 15(d)

DEBT

v3.21.2
DEBT
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
DEBT BORROWINGS
Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following at June 30, 2021 and December 31, 2020, respectively: 
(dollar amounts in millions) June 30,
2021		 December 31,
2020
Federal funds purchased and securities sold under agreements to repurchase $ 255  $ 71 
Other borrowings 136  112 
Total short-term borrowings $ 391  $ 183 
Huntington’s long-term debt consisted of the following at June 30, 2021 and December 31, 2020, respectively:

(dollar amounts in millions) June 30,
2021		 December 31,
2020
The Parent Company:
Senior Notes $ 2,807  $ 3,635 
Subordinated Notes 526  507 
Total notes issued by the parent 3,333  4,142 
The Bank:
Senior Notes 2,461  3,533 
Subordinated Notes 850  233 
Total notes issued by the bank 3,311  3,766 
FHLB Advances 214  3 
Other 484  441 
Total long-term debt $ 7,342  $ 8,352 

As a result of the TCF acquisition, Huntington assumed long-term debt totaling $1.5 billion, of which a FHLB advance of $214 million and subordinated notes of $637 million remain outstanding at June 30, 2021. The assumed long-term FHLB advance has a maturity date in 2025 and carried interest rate of 1.03% at June 30, 2021. The assumed subordinated notes included $21 million of parent company obligations due in 2032 to 2035 carrying variable interest rates based on three-month LIBOR plus 0.15% to 3.50% and $616 million of Bank obligations due in 2022 to 2030 carrying interest rates ranging from 0.64% to 3.75%.