Bank of America 2002 Annual Report Download - page 95

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BANK OF AMERICA 2002 93
The following table presents the maturities of domestic certificates of deposit of $100 thousand or greater and of other domestic time
deposits of $100 thousand or greater at December 31, 2002.
Within Within Within
(Dollars in millions)
3 months 3-6 months 6-12 months Thereafter Total
CDs of $100 thousand or greater $ 10,393 $ 4,500 $ 3,727 $ 4,367 $ 22,987
Other time deposits of $100 thousand or greater 73 90 84 730 977
NOTE 10 Deposits
The Corporation had domestic certificates of deposit of $100 thousand
or greater totaling $23.0 billion and $27.1 billion at December 31, 2002
and 2001, respectively. The Corporation had other domestic time
deposits of $100 thousand or greater totaling $977 million and $904 mil-
lion at December 31, 2002 and 2001, respectively. Foreign office
certificates of deposit and other time deposits of $100 thousand or
greater totaled $16.4 billion and $28.0 billion at December 31, 2002 and
2001, respectively.
Long-Term Debt
The following table presents long-term debt at December 31, 2002 and December 31, 2001:
December 31
(Dollars in millions)
2002 2001
Notes issued by Bank of America Corporation(1,2)
Senior notes
Fixed, ranging from 0.73% to 9.25%, due 2003 to 2028 $ 7,896 $ 1,029
Floating, ranging from 1.05% to 4.38%, due 2003 to 2041 19,294 22,526
Subordinated notes
Fixed, ranging from 4.80% to 10.88%, due 2003 to 2032 14,158 9,926
Floating, ranging from 0.98% to 2.60%, due 2003 to 2037 5,167 10,795
Total notes issued by Bank of America Corporation $ 46,515 $ 44,276
Notes issued by Bank of America, N.A. and other subsidiaries(1,2)
Senior notes
Fixed, ranging from 1.51% to 8.50%, due 2003 to 2014 $ 2,223 $ 893
Floating, ranging from 0.25% to 5.92%, due 2003 to 2027 3,229 6,643
Subordinated notes
Fixed, ranging from 7.88% to 10.78%, due 2003 to 2004 401 400
Floating, 1.38%, due 2019 88
Total notes issued by Bank of America, N.A. and other subsidiaries $ 5,861 $ 7,944
Other debt
Advances from the Federal Home Loan Bank – Georgia $2,749 $ 2,250
Advances from the Federal Home Loan Bank – Oregon 5,992 5,996
Floating rate asset backed certificates – Bank of America, N.A. –2,000
Other 28 30
Total other debt $ 8,769 $ 10,276
Total $ 61,145 $ 62,496
(1) Fixed-rate and floating-rate classifications as well as interest rates include the effect of interest rate swap contracts.
(2) Rates and maturity dates reflect outstanding debt as of December 31, 2002.
At December 31, 2002, the scheduled maturities for total time
deposits were as follows:
(Dollars in millions)
Due in 2003 $ 82,972
Due in 2004 5,514
Due in 2005 3,761
Due in 2006 1,426
Due in 2007 3,391
Thereafter 1,474
Total $ 98,538
NOTE 11 Short-Term Borrowings and
Long-Term Debt
Short-Term Borrowings
Bank of America Corporation and certain other subsidiaries issue
commercial paper. Commercial paper outstanding at December 31,
2002 was $114 million compared to $1.6 billion at December 31, 2001.
Bank of America, N.A. maintains a domestic program to offer up
to a maximum of $50.0 billion, at any one time, of bank notes with
fixed or floating rates and maturities of at least seven days from the
date of issue. Short-term bank notes outstanding under this program
totaled $1.0 billion at December 31, 2002 compared to $2.5 billion at
December 31, 2001. These short-term bank notes, along with Treasury
tax and loan notes, term federal funds purchased and commercial
paper, are reflected in commercial paper and other short-term borrow-
ings in the Consolidated Balance Sheet.