Commercial Paper and Other Short-Term Borrowings

9 Months Ended

Sep. 30, 2012

Commercial Paper and Other Short-Term Borrowings

Note 6—Commercial Paper and Other Short-Term Borrowings

The following is a summary of the Company’s commercial paper and other short-term borrowings:

(Dollars in millions)	September 30, 2012		December 31, 2011
Federal funds purchased and securities sold under repurchase agreements with weighted average interest rates of 0.25% and 0.06% at September 30, 2012 and December 31, 2011, respectively	$	119	$	597
Commercial paper, with weighted average interest rates of 0.24% and 0.22% at September 30, 2012 and December 31, 2011, respectively		1,702		2,498
Other borrowed funds:
Term federal funds purchased, with a weighted average interest rate of 0.18% and 0.15% at September 30, 2012 and December 31, 2011, respectively		270		50
Federal Home Loan Bank advances, with a weighted average interest rate of 0.48% at December 31, 2011		—		500
All other borrowed funds, with a weighted average interest rate of 0.73% at December 31, 2011		—		38
Total commercial paper and other short-term borrowings	$	2,091	$	3,683