Long-Term Borrowings and Other Secured Financings

10. Long-Term Borrowings and Other Secured Financings.

Long-Term Borrowings.

Components of Long-term Borrowings.

		At March 31, 2016		At December 31, 2015
		(dollars in millions)
Senior debt	$	149,060	$	140,494
Subordinated debt		10,895		10,404
Junior subordinated debentures		2,849		2,870
Total	$	162,804	$	153,768

During the quarter ended March 31, 2016 and 2015, the Company issued notes with a principal amount of approximately $13.2 billion and $11.3 billion, respectively, and approximately $8.0 billion and $5.3 billion, respectively, in aggregate long-term borrowings matured or were retired.

The weighted average maturity of long-term borrowings, based upon stated maturity dates, was approximately 6.2 years and 6.1 years at March 31, 2016 and December 31, 2015, respectively.

Other Secured Financings.

Other secured financings include the liabilities related to transfers of financial assets that are accounted for as financings rather than sales, consolidated VIEs where the Company is deemed to be the primary beneficiary, pledged commodities, certain equity-linked notes and other secured borrowings. These liabilities are generally payable from the cash flows of the related assets accounted for as Trading assets. See Note 12 for further information on Other secured financings related to VIEs and securitization activities.

Components of Other Secured Financings.

			At March 31, 2016		At December 31, 2015
			(dollars in millions)
Secured financings with original maturities greater than one year		$	7,551	$	7,629
Secured financings with original maturities one year or less			1,373		1,435
Failed sales(1)			392		400
	Total	$	9,316	$	9,464

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(1) For more information on failed sales, see Note 12.