Annual report pursuant to Section 13 and 15(d)

Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings

v2.4.0.6
Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings
 12 Months Ended
Dec. 31, 2012
Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings [Abstract]  
Short-term Debt
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.