Truist locks in $12bn long-term debt as rates hold high
Bank raises LTD and time deposits while slashing short-term borrowings
Truist increased its long-term debt (LTD) by 38.7% to $44.4 billion in the second quarter, the bank’s highest level in two years.
Over the same period, short-term borrowings fell 29.9% to $16.6 billion, their lowest in three years. Time deposits rose 17.8% to $47.7 billion, the largest amount since at least 2019.
Average balances for all three funding sources were relatively stable quarter on
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