Bank of America 2011 Annual Report Download - page 211

Bank of America 2011 209
NOTE 12 Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and
Short-term Borrowings
The table below presents federal funds sold and securities borrowed or purchased under agreements to resell and short-term borrowings
which include federal funds purchased, securities loaned or sold under agreements to repurchase, commercial paper and other short-
term borrowings.
(Dollars in millions)
Federal funds sold and securities borrowed or purchased under agreements to resell
At December 31
Average during year
Maximum month-end balance during year
Federal funds purchased
At December 31
Average during year
Maximum month-end balance during year
Securities loaned or sold under agreements to repurchase
At December 31
Average during year
Maximum month-end balance during year
Commercial paper
At December 31
Average during year
Maximum month-end balance during year
Other short-term borrowings
At December 31
Average during year
Maximum month-end balance during year
2011
Amount
$ 211,183
245,069
270,473
243
1,658
4,133
214,621
270,718
293,519
23
8,897
21,212
35,675
42,996
47,087
Rate
0.76%
0.88
n/a
0.06
0.08
n/a
1.08
1.31
n/a
1.70
0.53
n/a
2.35
2.31
n/a
2010
Amount
$209,616
256,943
314,932
1,458
4,718
8,320
243,901
348,936
458,532
15,093
25,923
36,236
44,869
50,752
63,081
Rate
0.85%
0.71
n/a
0.14
0.15
n/a
1.15
0.74
n/a
0.65
0.56
n/a
2.02
1.88
n/a
2009
Amount
$189,933
235,764
271,321
4,814
4,239
4,814
250,371
365,624
407,967
13,131
26,697
37,025
56,393
92,084
169,602
Rate
0.78%
1.23
n/a
0.09
0.05
n/a
0.39
0.96
n/a
0.65
1.03
n/a
1.72
1.87
n/a
n/a = not applicable
Bank of America, N.A. maintains a global program to offer up
to a maximum of $75 billion outstanding 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 $1.4 billion and $14.6 billion at
December 31, 2011 and 2010. These short-term bank notes,
along with Federal Home Loan Bank (FHLB) advances, U.S.
Treasury tax and loan notes, and term federal funds purchased,
are included in commercial paper and other short-term borrowings
on the Consolidated Balance Sheet. See Note 13 – Long-term Debt
for information regarding the long-term notes that have been
issued under the $75 billion bank note program.