Annual report pursuant to Section 13 and 15(d)

Short Term Borrowings

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Short Term Borrowings
 12 Months Ended
Dec. 31, 2011
Short-term Debt [Abstract]  
Short-term Debt [Text Block]

9. Short-term Borrowings

 

Short-term borrowings at December 31, 2011 and 2010 were comprised of the following:

 

    At December 31,  
(dollar amounts in thousands)   2011   2010
Federal funds purchased and securities sold under agreements to repurchase $ 1,434,310   $ 1,965,677  
Other borrowings   6,782     75,055  
Total short-term borrowings $ 1,441,092   $ 2,040,732  

Other borrowings consist of borrowings from the Treasury and other notes payable.

For each of the three years ended December 31, 2011, 2010, and 2009, the average balance for the year, weighted average interest rate for the year and at year-end and maximum balance for the year by category of short-term borrowings was as follows:

 

         
(dollar amounts in thousands)   2011     2010     2009  
Weighted average interest rate at year-end                  
  Federal Funds purchased and securities sold under agreements to repurchase   0.17 %   0.19 %   0.21 %
  Other short-term borrowings   2.74     0.53     1.17  
Maximum amount outstanding at month-end during the year                  
  Federal Funds purchased and securities sold under agreements to repurchase $ 2,430,992   $ 2,084,431   $ 1,094,736  
  Other short-term borrowings   86,262     107,716     54,208  
Average amount outstanding during the year                  
  Federal Funds purchased and securities sold under agreements to repurchase $ 2,009,039   $ 1,375,154   $ 902,780  
  Other short-term borrowings   46,245     70,220     30,034  
Weighted average interest rate during the year                  
  Federal Funds purchased and securities sold under agreements to repurchase   0.16 %   0.19 %   0.21 %
  Other short-term borrowings   0.59     0.43     1.47