Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 86

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 86
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 maturity.

Interest-Bearing Deposits with Banks and Other Short-Term Investments

 Interest-bearing deposits with banks, which are mostly used to manage liquidity requirements of the Corporation, primarily include deposits with the FRB and also include deposits with banks in developed countries or international banking facilities of foreign banks located in the United States. On a period-end basis, interest-bearing deposits with banks decreased $2.1 billion to $6.0 billion at December 31, 2024. On an average basis, interest-bearing deposits with banks decreased $1.5 billion to $6.0 billion in 2024. 

Other short-term investments include federal funds sold, trading securities, money market investments and loans held-for-sale. Substantially all trading securities are deferred compensation plan assets. Loans held-for-sale include variable-rate demand notes for which the Corporation has purchased the underlying bonds as well as residential mortgage loans originated with management's intention to sell and, from time to time, other loans that are transferred to held-for-sale. On a period-end basis, other short-term investments decreased $24 million to $375 million at December 31, 2024, driven by declines in deferred compensation plan assets and variable-rate demand notes. On an average basis, other short-term investments increased $37 million to $376 million in 2024.

Deposits and Borrowed Funds

Period-End Deposits and Borrowed Funds(in millions)PercentChangeYears Ended December 3120242023ChangeNoninterest-bearing deposits$24,425 $27,849 $(3,424)(12)%Money market and interest-bearing checking deposits32,714 28,246 4,468 16 Savings deposits2,138 2,381 (243)(10)Customer certificates of deposit3,450 3,723 (273)(7)Other time deposits1,052 4,550 (3,498)(77)Foreign office time deposits32 13 19 n/mTotal deposits$63,811 $66,762 $(2,951)(4)%Short-term borrowings$— $3,565 $(3,565)n/mMedium- and long-term debt6,673 6,206 467 8 Total borrowed funds$6,673 $9,771 $(3,098)(32)%n/m - not meaningful

On a period-end basis, total deposits decreased $3.0 billion to $63.8 billion at December 31, 2024