Short-Term Borrowings

12 Months Ended

Dec. 31, 2018

Short-term Debt [Abstract]

Short-Term Borrowings

Short-Term Borrowings

Short-term borrowings consisted of the following:

	December 31,
	2018				Rate		2017				Rate		2016				Rate
	(dollars are in millions)
Securities sold under repurchase agreements(1)	$	1,466			4.16	%	$	3,365			2.10	%	$	3,672			1.17	%
Average during year			$	4,189	2.86				$	8,100	1.28				$	7,272	.72
Maximum month-end balance			5,829						11,351						11,950
Commercial paper	2,532				2.70		1,154				1.56		1,251				1.20
Other	182						131						178
Total short-term borrowings	$	4,180					$	4,650					$	5,101

⁽¹⁾  The following table presents the quarter end and average quarterly balances of securities sold under repurchase agreements:

	2018								2017								2016
	Fourth		Third		Second		First		Fourth		Third		Second		First		Fourth		Third		Second		First
	(in millions)
Quarter end balance	$	1,466	$	2,471	$	2,743	$	2,792	$	3,365	$	6,494	$	7,558	$	4,069	$	3,672	$	3,986	$	3,969	$	5,529
Average quarterly balance	3,045		3,550		5,008		5,182		5,457		12,566		9,272		5,050		4,593		5,959		10,461		8,117