Annual report pursuant to Section 13 and 15(d)

Short Term Borrowings

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Short Term Borrowings
 12 Months Ended
Dec. 31, 2013
Short-term Debt [Abstract]  
Short-term Debt [Text Block]

9. Short-term Borrowings

 

Short-term borrowings at December 31, 2013 and 2012 were comprised of the following:

 

    At December 31,  
(dollar amounts in thousands)   2013   2012
Federal funds purchased and securities sold under agreements to repurchase $ 548,605   $ 575,899  
Other borrowings   3,538     13,915  
Total short-term borrowings $ 552,143   $ 589,814  

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

For each of the three years ended December 31, 2013, 2012, and 2011, weighted average interest rate at year-end, the maximum balance for the year, the average balance for the year, and weighted average interest rate for the year by category of short-term borrowings was as follows:

 

         
(dollar amounts in thousands)   2013     2012     2011  
Weighted average interest rate at year-end                  
  Federal Funds purchased and securities sold under agreements to repurchase   0.06 %   0.15 %   0.17 %
  Other short-term borrowings   2.59     1.98     2.74  
Maximum amount outstanding at month-end during the year                  
  Federal Funds purchased and securities sold under agreements to repurchase $ 787,127   $ 1,590,082   $ 2,430,992  
  Other short-term borrowings   19,497     26,071     86,262  
Average amount outstanding during the year                  
  Federal Funds purchased and securities sold under agreements to repurchase $ 692,481   $ 1,293,348   $ 2,009,039  
  Other short-term borrowings   7,815     16,983     46,245  
Weighted average interest rate during the year                  
  Federal Funds purchased and securities sold under agreements to repurchase   0.08 %   0.14 %   0.16 %
  Other short-term borrowings   1.79     1.36     0.59