CAPITAL ONE FINANCIAL CORP

Funding Sources

Our primary source of funding comes from insured retail deposits, as they are a relatively stable and lower cost source of funding. In addition to deposits, we raise funding through the issuance of senior and subordinated notes, securitized debt obligations, federal funds purchased, securities loaned or sold under agreements to repurchase, and Federal Home Loan Bank (“FHLB”) advances secured by certain portions of our loan and securities portfolios.

Table 7 provides the composition of our primary sources of funding as of June 30, 2024 and December 31, 2023.

Table 7: Funding Sources Composition

(1)Includes brokered deposits of $15.7 billion and $18.5 billion as of June 30, 2024 and December 31, 2023, respectively.

Total deposits increased by $3.0 billion to $351.4 billion as of June 30, 2024 from December 31, 2023 primarily driven by our national consumer banking strategy, partially offset by an intentional reduction in lower margin deposit balances in our Commercial Banking business.

As of June 30, 2024 and December 31, 2023, we held $59.9 billion and $64.2 billion, respectively, of estimated uninsured deposits excluding any intercompany balances. These amounts were primarily comprised ofchecking and savings deposits. These estimated uninsured deposits comprised approximately 17% and 18% of our total deposits as of June 30, 2024 and December 31, 2023, respectively. We estimate our uninsured amounts based on methodologies and assumptions used for our “Consolidated Reports of Condition and Income” (FFIEC 031) filed with the Federal Banking Agencies.

Securitized debt obligations decreased by $752 million to $17.3 billion as of June 30, 2024 from December 31, 2023 primarily driven by paydowns in our auto securitization program.

Other debt decreased by $1.1 billion to $30.7 billion as of June 30, 2024 from December 31, 2023 primarily driven by net maturities of unsecured senior debt.

We provide additional information on our funding sources in “Liquidity Risk Profile” and “Part I—Item 1. Financial Statements—Note 8—Deposits and Borrowings.”