Borrowings and Bank Deposits (Tables)

9 Months Ended

Sep. 30, 2015


(In millions)	September 30, 2015		December 31, 2014

Short-term borrowings
Commercial paper(a)
U.S.	$	9,811	$	22,019
Non-U.S.		3,103		2,993
Current portion of long-term borrowings(a)(b)(c)		29,679		36,995
GE Interest Plus notes(d)		-		5,467
Other(c)		287		231
Total short-term borrowings	$	42,880	$	67,705

Long-term borrowings
Senior unsecured notes(a)(b)(e)	$	144,935	$	162,194
Subordinated notes(a)		4,715		4,804
Subordinated debentures(a)(f)(g)		6,782		7,085
Other(a)(c)(h)		7,751		12,676
Total long-term borrowings	$	164,183	$	186,759
Non-recourse borrowings of
consolidated securitization entities(i)	$	16,225	$	19,369
Bank deposits(j)	$	48,656	$	43,841
Total borrowings and bank deposits	$	271,944	$	317,674

On April 10, 2015, GE announced it would provide a full and unconditional guarantee on the payment of the principal and interest on all tradable senior and subordinated outstanding long-term debt securities and all commercial paper issued or guaranteed by GECC. Short term borrowings included $12,914 million of commercial paper and $28,373 million of the current portion of long-term borrowings. Long-term borrowings included $131,230 million of senior unsecured notes, $3,971 million of subordinated notes, $6,782 million of subordinated debentures, and $400 million of other.
Included $431 million and $439 million of obligations to holders of GICs at September 30, 2015 and December 31, 2014, 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. 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 $4,969 million and $4,835 million of funding secured by real estate, aircraft and other collateral at September 30, 2015 and December 31, 2014, respectively, of which $1,216 million and $1,183 million is non-recourse to GECC at September 30, 2015 and December 31, 2014, respectively.
Entirely variable denomination floating-rate demand notes. The GE Interest Plus program was closed effective August 31, 2015.
Included $5,589 million and $3,594 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.
Subordinated debentures receive rating agency equity credit.
Included $2,636 million of subordinated debentures, which constitute the sole assets of trusts that have issued trust preferred securities and where GECC owns 100% of the common securities of the trusts. Obligations associated with these trusts are unconditionally guaranteed by GECC.
Included $4,651 million and $8,245 million related to Synchrony Financial at September 30, 2015 and December 31, 2014, respectively.
Included $1,934 million and $3,377 million of current portion of long-term borrowings at September 30, 2015 and December 31, 2014, respectively. See Note 12.
Included $8,108 million and $8,905 million of deposits in non-U.S. banks at September 30, 2015 and December 31, 2014, respectively, and $15,990 million and $14,500 million of certificates of deposits with maturities greater than one year at September 30, 2015 and December 31, 2014, respectively.