Regions Bank 2010 Annual Report Download - page 167

Other short-term borrowings are related to Morgan Keegan and include certain lines of credit that Morgan
Keegan maintains with unaffiliated banks. The lines of credit provided for maximum borrowings of $640 million
and $585 million at December 31, 2010 and 2009, respectively.
CUSTOMER-RELATED BORROWINGS
Repurchase agreements are also offered as commercial banking products as short-term investment
opportunities for customers. The level of these borrowings can fluctuate significantly on a day-to-day basis.
Regions, through Morgan Keegan, maintains two types of liabilities for its brokerage customers that are
classified as short-term borrowings since Morgan Keegan pays its customers interest related to these liabilities.
The brokerage customer position liability represents liquid funds in the customers’ brokerage accounts. The
short-sale liability represents Regions’ trading obligations to deliver to customers securities at a predetermined
date and price. The balances of these liabilities fluctuate frequently based on customer activity.
Customer collateral includes cash collateral posted by swap customers of Morgan Keegan.
NOTE 12. LONG-TERM BORROWINGS
Long-term borrowings at December 31 consist of the following:
2010 2009
(In millions)
Federal Home Loan Bank structured advances ..................................... $ 200 $ 2,884
Other Federal Home Loan Bank advances ........................................ 3,515 4,520
6.375% subordinated notes due May 2012 ........................................ 599 598
7.75% subordinated notes due March 2011 ....................................... 502 512
7.00% subordinated notes due March 2011 ....................................... 500 500
7.375% subordinated notes due December 2037 ................................... 300 300
6.75% subordinated debentures due November 2025 ................................ 162 163
7.75% subordinated notes due September 2024 .................................... 100 100
7.50% subordinated notes due May 2018 (Regions Bank) ............................ 750 750
6.45% subordinated notes due June 2037 (Regions Bank) ............................ 497 497
4.85% subordinated notes due April 2013 (Regions Bank) ........................... 494 491
5.20% subordinated notes due April 2015 (Regions Bank) ........................... 347 346
3.25% senior bank notes due December 2011 ..................................... 2,000 2,001
2.75% senior bank notes due December 2010 ..................................... — 999
LIBOR floating rate senior bank notes due June 2010 ............................... — 250
LIBOR floating rate senior bank notes due December 2010 .......................... — 500
7.75% senior notes due November 2014 .......................................... 692 690
4.375% senior notes due December 2010 ......................................... — 497
5.75% senior notes due June 2015 .............................................. 495 —
4.875% senior notes due April 2013 ............................................. 249 —
LIBOR floating rate senior notes due June 2012 ................................... 350 350
6.625% junior subordinated notes due May 2047 ................................... 498 498
8.875% junior subordinated notes due June 2048 ................................... 345 345
Other long-term debt ......................................................... 383 454
Valuation adjustments on hedged long-term debt ................................... 212 219
$13,190 $18,464
Long-term FHLB structured advances have stated maturities during 2011 but are convertible quarterly at the
option of the FHLB. The convertible feature provides that after a specified date in the future, the advances will
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