BB&T 2010 Annual Report Download - page 132
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NOTE 9. Federal Funds Purchased, Securities Sold Under Agreements to Repurchase
and Short-Term Borrowed Funds
Federal funds purchased, securities sold under agreements to repurchase and short-term borrowed funds are
summarized as follows:
December 31,
2010 2009
(Dollars in millions)
Federal funds purchased $23$1,421
Securities sold under agreements to repurchase 1,189 2,197
Master notes 806 1,004
Other short-term borrowed funds 3,655 3,484
Total $5,673 $8,106
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 270 days or less. 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. In
2009, other short-term borrowed funds included U.S. Treasury tax and loan deposit notes payable to the U.S.
Treasury 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,
2010 2009 2008
(Dollars in millions)
Maximum outstanding at any month-end during the year $11,690 $19,917 $15,704
Balance outstanding at end of year 5,673 8,106 10,788
Average outstanding during the year 9,022 12,491 10,580
Average interest rate during the year .24% .46% 2.22%
Average interest rate at end of year .46 .34 .87
NOTE 10. Deposits
A summary of BB&T’s deposits is presented in the accompanying table:
December 31,
2010 2009
(Dollars in millions)
Deposits:
Noninterest-bearing deposits $ 20,637 $ 18,945
Interest checking 4,050 3,420
Other client deposits 54,040 52,097
Client certificates of deposit 21,317 32,298
Other interest-bearing deposits 7,169 8,205
Total deposits $107,213 $114,965
Time deposits that are $100,000 and greater totaled $10.6 billion and $17.2 billion at December 31, 2010 and
2009, respectively.
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