Bank of America 2007 Annual Report Download - page 142

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Note 11 – Deposits
The Corporation had domestic certificates of deposit and other domestic time deposits of $100 thousand or more totaling $94.4 billion and $74.5 billion at
December 31, 2007 and 2006. Foreign certificates of deposit and other foreign time deposits of $100 thousand or more totaled $109.1 billion and $62.1
billion at December 31, 2007 and 2006.
Time deposits of $100 thousand or more
(Dollars in millions)
Three months
or less
Over three months
to twelve months Thereafter Total
Domestic certificates of deposit and other time deposits
$ 45,172 $46,199 $3,069 $ 94,440
Foreign certificates of deposit and other time deposits
100,515 5,900 2,706 109,121
At December 31, 2007, the scheduled maturities for total time deposits were as follows:
(Dollars in millions) Domestic Foreign Total
Due in 2008
$205,359 $107,334 $312,693
Due in 2009
7,656 786 8,442
Due in 2010
3,484 180 3,664
Due in 2011
1,569 23 1,592
Due in 2012
1,776 1,023 2,799
Thereafter
1,963 730 2,693
Total time deposits
$221,807 $110,076 $331,883
Note 12 – Short-term Borrowings
and Long-term Debt
Short-term Borrowings
Bank of America Corporation and certain of its subsidiaries issue commer-
cial paper in order to meet short-term funding needs. Commercial paper
outstanding at December 31, 2007 was $55.6 billion compared to $41.2
billion at December 31, 2006.
Bank of America, N.A. maintains a domestic program to offer up to a
maximum of $75.0 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 $12.3 bil-
lion at December 31, 2007 compared to $24.5 billion at December 31,
2006. These short-term bank notes, along with commercial paper, Federal
Home Loan Bank advances, Treasury tax and loan notes, and term federal
funds purchased, are reflected in commercial paper and other short-term
borrowings on the Consolidated Balance Sheet.
140
Bank of America 2007