Borrowings and Bank Deposits

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

GECC Borrowings and Bank Deposits

NOTE 8. BORROWINGS AND BANK DEPOSITS

Short-term Borrowings		2012				2011
				Average				Average
December 31 (Dollars in millions)		Amount		rate(a)		Amount		rate(a)
Commercial paper
U.S.		$	33,686	0.22	%	$	33,591	0.23	%
Non-U.S.			9,370	0.92			10,569	1.67
Current portion of long-term
borrowings(b)(c)(d)(e)			44,264	2.85			82,650	2.72
GE Interest Plus notes(f)			8,189	1.20			8,474	1.32
Other(d)			431				1,049
Total short-term borrowings		$	95,940			$	136,333
Long-term Borrowings		2012				2011
				Average				Average
December 31 (Dollars in millions)	Maturities		Amount	rate(a)			Amount	rate(a)
Senior unsecured notes(c)	2014-2055	$	199,646	2.95	%	$	210,154	3.49	%
Subordinated notes(e)	2014-2037		4,965	2.92			4,862	3.42
Subordinated debentures(g)(h)	2066-2067		7,286	5.78			7,215	6.66
Other(d)			12,879				12,160
Total long-term borrowings		$	224,776			$	234,391
Non-recourse borrowings of consolidated
securitization entities (i)	2013-2019	$	30,123	1.12		$	29,258	1.40
Bank deposits(j)		$	46,461			$	43,115
Total borrowings and bank deposits		$	397,300			$	443,097

• Based on year-end balances and year-end local currency effective interest rates, including the effects from hedging.
• GECC had issued and outstanding $35,040 million of senior, unsecured debt that was guaranteed by the Federal Deposit Insurance Corporation (FDIC) under the Temporary Liquidity Guarantee Program at December 31, 2011.No such debt was outstanding at December 31, 2012.
• Included in total long-term borrowings were $604 million and $1,845million of obligations to holders of GICs at December 31, 2012 and 2011, respectively. These obligations included conditions under which certain GIC holders could require immediate repayment of their investment should the long-term credit ratings of GECC fall below AA-/Aa3. Following the April 3, 2012 Moody's downgrade of GECC's long-term credit rating to A1, substantially all of these GICs became redeemable by their holders. In 2012, holders of $386million in principal amount of GICs redeemed their holdings and GECC made related cash payments. The remaining outstanding GICs will continue to be subject to their scheduled maturities and individual terms, which may include provisions permitting redemption upon a downgrade of one or more of GECC's ratings, among other things.
• Included $9,757 million and $8,538millionof funding secured by real estate, aircraft and other collateral at December 31, 2012 and 2011, respectively, of which $3,294million and $2,983million is non-recourse to GECC at December 31, 2012 and 2011, respectively.
• Included $300 million and $417 million of subordinated notes guaranteed by GE at December 31, 2012 and 2011, respectively, of which $117 million was included in current portion of long-term borrowings at December 31, 2011.
• Entirely variable denomination floating-rate demand notes.
• Subordinated debentures receive rating agency equity credit and were hedged at issuance to the U.S. dollar equivalent of $7,725million.
• Includes $2,889 million of subordinated debentures, which constitute the sole assets of wholly-owned trusts who have issued trust preferred securities. Obligations associated with these trusts are unconditionally guaranteed by GECC.
• Included at December 31, 2012and 2011 were$9,095million and $10,714millionof current portion of long-term borrowings, respectively, and $21,028million and $18,544 million of long-term borrowings, respectively. See Note 17.
• Included $16,157million and $16,281million of deposits in non-U.S. banks at December 31, 2012 and 2011, respectively, and $17,291million and $17,201millionof certificates of deposits with maturities greater than one year at December 31, 2012 and 2011, respectively.

Additional information about borrowings and associated swaps can be found in Note 15.

Liquidity is affected by debt maturities and our ability to repay or refinance such debt. Long-term debt maturities, including borrowings from GE, over the next five years follow.

(In millions)	2013			2014		2015		2016		2017
	$	44,264	(a)	$	38,783	$	36,252	$	23,047	$	24,775

(a)       Fixed and floating rate notes of $914 million contain put options with exercise dates in 2013, and which have final maturity beyond 2017.

Committed credit lines totaling $48.2 billion had been extended to us by 51 banks at year-end 2012. GECC can borrow up to $48.2 billion under all of these credit lines. GE can borrow up to $12.0 billion under certain of these credit lines. Our lines include $30.3billion of revolving credit agreements under which we can borrow funds for periods exceeding one year. Additionally, $17.9 billion are 364-day lines that contain a term-out feature that allows us to extend the borrowings for oneor twoyears from the date of expiration of the lending agreement.