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Borrowings and Bank Deposits

12 Months Ended

Dec. 31, 2011

Borrowings and bank deposits [Abstract]

NOTE 8. BORROWINGS AND BANK DEPOSITS


Short-term Borrowings		2011				2010
				Average				Average
December 31 (In millions)		Amount		rate(a)		Amount		rate(a)

Commercial paper
U.S.		$	28,552	0.23	%	$	27,398	0.28	%
Non-U.S.			10,569	1.63			9,497	1.42
Current portion of long-term			0
borrowings(b)(c)(d)(f)			82,648	2.72			65,610	3.24
GE Interest Plus notes(e)			8,474	1.32			9,058	1.59
Other(d)			1,049				2,083
Total short-term borrowings		$	131,292			$	113,646


Long-term Borrowings		2011				2010
				Average				Average
December 31 (In millions)	Maturities		Amount	rate(a)			Amount	rate(a)

Senior notes(b)(c)	2013-2055	$	210,427	3.49	%	$	263,043	3.29	%
Subordinated notes(f)	2014-2037		4,533	3.12			2,276	5.20
Subordinated debentures(g)(h)	2066-2067		7,215	6.66			7,298	6.63
Other(d)(i)			12,145				11,729
Total long-term borrowings		$	234,320			$	284,346

Non-recourse borrowings of consolidated
securitization entities (j)	2012-2022	$	29,258	1.40		$	30,018	1.20

Bank deposits(k)		$	43,115			$	37,298

Total borrowings and bank deposits		$	437,985			$	465,308

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 and $53,495 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 and 2010, respectively. Of the above amounts, $35,040 million and $18,455 million are included in current portion of long-term borrowings at December 31, 2011 and 2010, respectively.
Included in total long-term borrowings were $1,845 million and $2,395 million of obligations to holders of GICs at December 31, 2011 and 2010, respectively. If the long-term credit rating of GECC were to fall below AA-/Aa3 or its short-term credit rating were to fall below A-1+/P-1, GECC could be required to provide up to $1,718 million as of December 31, 2011, to repay holders of GICs.
Included $8,521 million and $11,117 million of funding secured by real estate, aircraft and other collateral at December 31, 2011 and 2010, respectively, of which $2,967 million and $4,653 million is non-recourse to GECC at December 31, 2011 and 2010, respectively.
Entirely variable denomination floating-rate demand notes.
Included $117 million of subordinated notes guaranteed by GE included in current portion of long-term borrowings at December 31, 2011 and in long-term borrowings at December 31, 2010.
Subordinated debentures receive rating agency equity credit and were hedged at issuance to the U.S. dollar equivalent of $7,725 million.
Includes $2,872 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 $1,955 million and $1,984 million of covered bonds at December 31, 2011 and 2010, respectively. If the short-term credit rating of GECC were reduced below A-1/P-1, GECC would be required to partially cash collateralize these bonds in an amount up to $727 million at December 31, 2011.
Included at December 31, 2011 and 2010 were $10,714 million and $10,499 million of current portion of non-recourse borrowings of CSEs, respectively, and $18,544 million and $19,519 million of long-term non-recourse borrowings of CSEs, respectively. See Note 17.
Included $16,281 million and $18,781 million of deposits in non-U.S. banks at December 31, 2011 and 2010, respectively, and $17,201 million and $11,606 million of certificates of deposits with maturities greater than one year at December 31, 2011 and 2010, 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)	2012			2013		2014		2015		2016

	$	82,648	(a)	$	38,332	$	36,540	$	23,448	$	21,197

(a) Fixed and floating rate notes of $444 million contain put options with exercise dates in 2012, and which have final maturity beyond 2016.

Committed credit lines totaling $52.4 billion had been extended to us by 58 banks at year-end 2011. Availability of these lines is shared between GE and GECC with $12.4 billion and $52.4 billion available to GE and GECC, respectively. Our lines include $35.1 billion of revolving credit agreements under which we can borrow funds for periods exceeding one year. Additionally, $16.7 billion are 364-day lines that contain a term-out feature that allows us to extend the borrowings for one year from the date of expiration of the lending agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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