

	As of				Year Ended
	December 31, 2019				December 31, 2019
	Balance		Rate		Average Balance		Rate		Maximum Outstanding At Any Month End
Funds purchased	3,390,528		1.53	%	2,438,376		2.08	%	3,390,528
Repurchase agreements	427,822		0.50	%	399,785		0.57	%	427,822
Other borrowings:
Federal Home Loan Bank advances	4,500,000		1.79	%	7,122,466		2.44	%	8,000,000
GNMA repurchase liability	15,417		4.32	%	13,746		4.47	%	19,581
Other	11,638		5.09	%	11,144		5.30	%	34,676
Total other borrowings	4,527,055				7,147,356		2.45	%
Subordinated debentures¹	275,923		5.15	%	276,075		5.47	%	275,923
Total other borrowed funds	$	8,621,328			$	10,261,592	2.37	%



	As of				Year Ended
	December 31, 2018				December 31, 2018
	Balance		Rate		Average Balance		Rate		Maximum Outstanding At Any Month End
Funds purchased	402,450		2.34	%	419,322		1.89	%	949,531
Repurchase agreements	615,961		0.36	%	464,582		0.28	%	615,961
Other borrowings:
Federal Home Loan Bank advances	6,100,000		2.65	%	6,207,142		2.06	%	6,500,000
GNMA repurchase liability	15,552		4.43	%	14,783		4.47	%	16,529
Other	8,838		2.90	%	14,516		2.67	%	20,422
Total other borrowings	6,124,390				6,236,441		2.07	%
Subordinated debentures¹	275,913		5.34	%	177,884		5.52	%	275,913
Total other borrowed funds	$	7,418,714			$	7,298,229	2.03	%



	As of				Year Ended
	December 31, 2017				December 31, 2017
	Balance		Rate		Average Balance		Rate		Maximum Outstanding At Any Month End
Funds purchased	58,628		1.00	%	58,064		0.73	%	80,967
Repurchase agreements	516,335		0.17	%	433,791		0.10	%	536,094
Other borrowings:
Federal Home Loan Bank advances	5,100,000		1.47	%	5,882,466		1.13	%	6,200,000
GNMA repurchase liability	19,947		4.22	%	20,509		4.59	%	24,139
Other	14,950		2.61	%	16,317		3.35	%	18,610
Total other borrowings	5,134,897				5,919,292		1.15	%
Subordinated debentures¹	144,677		5.60	%	147,954		5.57	%	151,875
Total other borrowed funds	$	5,854,537			$	6,559,101	1.18	%

Funds purchased are unsecured and generally mature within one day to ninety days from the transaction date. Securities repurchase agreements are recorded as secured borrowings that generally mature within ninety days and are secured by certain available for sale securities.

Additional information relating to securities sold under agreements to repurchase and related liabilities at December 31, 2019 and 2018 is as follows (dollars in thousands):



	December 31, 2019
	Amortized		Fair		Repurchase
Security Sold/Maturity	Cost		Value		Liability¹		Rate

U.S. government agency mortgage-backed securities:
Overnight¹	$	431,939	$	435,898	$	427,822	0.50	%
Long-term	—		—		—		—	%
Total Agency Securities	$	431,939	$	435,898	$	427,822	0.50	%

	December 31, 2018
	Amortized		Fair		Repurchase
Security Sold/Maturity	Cost		Value		Liability¹		Rate

U.S. government agency mortgage-backed securities:
Overnight¹	$	636,864	$	628,229	$	615,961	0.36	%
Long-term	—		—		—		—	%
Total Agency Securities	$	636,864	$	628,229	$	615,961	0.36	%

Borrowings from the Federal Home Loan Banks are used for funding purposes. In accordance with policies of the Federal Home Loan Banks, BOK Financial has granted a blanket pledge of eligible assets (generally unencumbered U.S. Treasury and residential mortgage-backed securities, 1-4 family loans and multifamily loans) as collateral for these advances. The Federal Home Loan Banks have issued letters of credit totaling $661 million to secure BOK Financial’s obligations to depositors of public funds. The unused credit available to BOK Financial at December 31, 2019 pursuant to the Federal Home Loan Bank’s collateral policies is $4.9 billion.

In 2016, BOK Financial issued $150 million of subordinated debt that will mature on June 30, 2056. Interest on this debt bears an interest rate of 5.375%, payable quarterly. On June 30, 2021, BOK Financial will have the option to redeem the debt at the principal amount plus accrued interest, subject to regulatory approval.

As a result of the acquisition of CoBiz Financial, we obtained $60 million of subordinated debt issued in June 2015 that will mature on June 25, 2030. This debt bears interest at the rate of 5.625% through June 2025 and thereafter, the notes will bear interest at an annual floating rate equal to three-month LIBOR plus 3.17%. The debt contains a call option that allows for repayment prior to contractual maturity. The call option is available on June 25, 2025 and quarterly thereafter at 100% of the principal amount.

Also through CoBiz Financial, we acquired junior subordinated debentures split across three issuance tranches. Junior subordinated debentures of $21 million will mature September 17, 2033 and bear an interest rate of three-month LIBOR plus 2.95% that resets quarterly. Junior subordinated debentures of $31 million will mature on July 23, 2034 and bear an interest rate of three-month LIBOR plus 2.60% that resets quarterly. Junior subordinated debentures of $20 million will mature on September 30, 2035 and bear an interest rate of three-month LIBOR plus 1.45% that resets quarterly. The junior subordinated debentures are subject to early redemption prior to maturity.

BOK Financial Securities, Inc. may borrow funds from Pershing, LLC ("Pershing"), a clearing broker/dealer and a wholly owned subsidiary of Bank of New York Mellon, for the purposes of financing securities purchases or to facilitate funding of investment banking activities, on terms to be negotiated at the time of the borrowing. BOK Financial Securities, Inc. had no borrowings outstanding at December 31, 2019 and none at December 31, 2018.

The Company has a liability related to the repurchase of certain delinquent residential mortgage loans previously sold into GNMA mortgage pools. Interest is payable at rates contractually due to investors.