Bank of America 2012 Annual Report Download - page 220

218 Bank of America 2012
NOTE 11 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.
2012 2011 2010
(Dollars in millions) Amount Rate Amount Rate Amount Rate
Federal funds sold and securities borrowed or purchased under agreements to resell
At December 31 $ 219,924 0.92%$211,183 0.76% $ 209,616 0.85%
Average during year 236,042 0.64 245,069 0.88 256,943 0.71
Maximum month-end balance during year 253,535 n/a 270,473 n/a 314,932 n/a
Federal funds purchased
At December 31 1,151 0.17 243 0.06 1,458 0.14
Average during year 384 0.11 1,658 0.08 4,718 0.15
Maximum month-end balance during year 1,211 n/a 4,133 n/a 8,320 n/a
Securities loaned or sold under agreements to repurchase
At December 31 292,108 1.11 214,621 1.08 243,901 1.15
Average during year 281,515 0.98 270,718 1.31 348,936 0.74
Maximum month-end balance during year 319,401 n/a 293,519 n/a 458,532 n/a
Commercial paper
At December 31 100 0.19 23 1.70 15,093 0.65
Average during year 49 0.30 8,897 0.53 25,923 0.56
Maximum month-end balance during year 172 n/a 21,212 n/a 36,236 n/a
Other short-term borrowings
At December 31 30,631 3.14 35,675 2.35 44,869 2.02
Average during year 36,452 2.23 42,996 2.31 50,752 1.88
Maximum month-end balance during year 40,129 n/a 47,087 n/a 63,081 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 $3.9 billion and $6.3 billion at
December 31, 2012 and 2011. 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 Corporation’s Consolidated Balance Sheet. See Note 12 –
Long-term Debt for information regarding the long-term notes that
have been issued under the $75 billion bank note program.