BB&T 2009 Annual Report Download - page 121
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BB&T CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Federal funds purchased represent unsecured borrowings from other banks and generally mature daily.
Securities sold under agreements to repurchase are borrowings collateralized primarily by securities of the U.S.
government or its agencies. Master notes are unsecured, non-negotiable obligations of BB&T (variable rate
commercial paper) that mature in less than one year. Other short-term borrowed funds include unsecured bank
notes that mature in less than one year, bank obligations with a maturity of seven days that are collateralized by
municipal securities, U.S. Treasury tax and loan deposit notes payable to the U.S. Treasury upon demand or for
periods of less than one month, and borrowings under the treasury auction facility.
A summary of selected data related to Federal funds purchased, securities sold under agreements to
repurchase and short-term borrowed funds follows:
As of /
For the Year Ended December 31,
2009 2008 2007
(Dollars in millions)
Maximum outstanding at any month-end during the year $19,917 $15,704 $11,663
Balance outstanding at end of year 8,106 10,788 10,634
Average outstanding during the year 12,491 10,580 9,325
Average interest rate during the year .46% 2.22% 4.39%
Average interest rate at end of year .34 .87 3.64
NOTE 10. Long-Term Debt
December 31,
2009 December 31,
2008
(Dollars in millions)
Parent Company
3.10% Senior Notes Due 2011 $ 250 $—
3.85% Senior Notes Due 2012 1,000 —
3.38% Senior Notes Due 2013 500 —
5.70% Senior Notes Due 2014 509 —
6.85% Senior Notes Due 2019 538 —
6.50% Subordinated Notes Due 2011 (1) 610 648
4.75% Subordinated Notes Due 2012 (1) 489 497
5.20% Subordinated Notes Due 2015 (1,3) 932 997
4.90% Subordinated Notes Due 2017 (1,3) 336 368
5.25% Subordinated Notes Due 2019 (1,3) 586 600
Branch Bank
Floating Rate Senior Notes Due 2009 —516
Floating Rate Subordinated Notes Due 2016 (1,8) 350 350
Floating Rate Subordinated Notes Due 2017 (1,8) 261 300
4.875% Subordinated Notes Due 2013 (1) 222 250
5.625% Subordinated Notes Due 2016 (1,3) 386 399
Federal Home Loan Bank Advances to Branch Bank (4)
Varying maturities to 2034 10,541 9,838
Junior Subordinated Debt to Unconsolidated Trusts (2)
5.85% BB&T Capital Trust I Securities Due 2035 514 514
6.75% BB&T Capital Trust II Securities Due 2036 598 598
6.82% BB&T Capital Trust IV Securities Due 2077 (5) 600 600
8.95% BB&T Capital Trust V Securities Due 2068 (6) 450 450
9.60% BB&T Capital Trust VI Securities Due 2069 575 —
8.10% BB&T Capital Trust VII Securities Due 2069 350 —
Other (7) 182 182
Other Long-Term Debt 98 66
Fair value hedge-related basis adjustments 499 859
Total Long-Term Debt $21,376 $18,032
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