Capital Management and Funding Strategy
Funding Programs
Our funding programs can access a range of funding sources to support our global business.
American Express Company (AXP)
Senior Debt Rating + A2/BBB+/A
Unsecured Term Debt, Committed
Bank Credit Facility
American Express Travel Related Services (TRS)
Senior Debt Rating + :A2/A-/A
Secured Borrowing Facility,
Commercial Paper, Committed
Bank Credit Facility
American Express National Bank (AENB)
Senior Debt Rating † : A3/A-/A
Direct Deposits, Third Party CD,
Third Party Sweep, Asset Backed
Securities (AMXCA), Secured
Borrowing Facility
Additional Liquidity Sources
Cash & Readily Marketable Securities, Discount Window, BTFP
Note: US consumer and small business loans and receivables are originated by AENB. International consumer and small business loans and receivables as well as global corporate receivables
are originated by other subsidiary entities, including TRS. AMXCA = American Express Credit Account Master Trust. †Credit Ratings indicated are from Moody's/S&P/Fitch as of September 30,
2023. Credit Outlook: Moody's, Fitch, S&P - stable
AM
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