Annual report pursuant to Section 13 and 15(d)

Short Term Borrowings

v2.4.1.9
Short Term Borrowings
 12 Months Ended
Dec. 31, 2014
Short-term Debt [Abstract]  
Short-term Debt [Text Block]

9. Short-term Borrowings

Short-term borrowings at December 31, 2014 and 2013 were comprised of the following:

At December 31,
(dollar amounts in thousands) 2014 2013
Federal funds purchased and securities sold under agreements to repurchase $ 1,058,096 $ 548,605
Federal Home Loan Bank advances 1,325,000 1,800,000
Other borrowings 14,005 3,538
Total short-term borrowings $ 2,397,101 $ 2,352,143

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

For each of the three years ended December 31, 2014, 2013, and 2012, 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 were as follows:

(dollar amounts in thousands) 2014 2013 2012
Weighted average interest rate at year-end
Federal Funds purchased and securities sold under agreements to repurchase 0.08 % 0.06 % 0.15 %
Federal Home Loan Bank advances 0.14 0.02 0.03
Other short-term borrowings 1.11 2.59 1.98
Maximum amount outstanding at month-end during the year
Federal Funds purchased and securities sold under agreements to repurchase $ 1,491,350 $ 787,127 $ 1,590,082
Federal Home Loan Bank advances 2,375,000 1,800,000 1,000,000
Other short-term borrowings 56,124 19,497 26,071
Average amount outstanding during the year
Federal Funds purchased and securities sold under agreements to repurchase $ 987,156 $ 692,481 $ 1,293,348
Federal Home Loan Bank advances 1,753,045 702,262 286,530
Other short-term borrowings 20,797 7,815 16,983
Weighted average interest rate during the year
Federal Funds purchased and securities sold under agreements to repurchase 0.07 % 0.08 % 0.14 %
Federal Home Loan Bank advances 0.06 0.04 0.17
Other short-term borrowings 1.63 1.79 1.36