Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2018

Selected financial information pertaining to the components of our short-term borrowings is as follows:



December 31,
dollars in millions	2018			2017			2016
FEDERAL FUNDS PURCHASED
Balance at year end	—			$	3		$	1,005
Average during the year	$	537		128			44
Maximum month-end balance	3,197			2,331			1,005
Weighted-average rate during the year ^(a)	1.68		%	.72		%	.68		%
Weighted-average rate at December 31 ^(a)	—			—			.55
SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
Balance at year end	$	319		$	374		$	497
Average during the year	391			389			443
Maximum month-end balance	614			472			684
Weighted-average rate during the year ^(a)	.09		%	.08		%	.04		%
Weighted-average rate at December 31 ^(a)	.09			.08			.07
OTHER SHORT-TERM BORROWINGS
Balance at year end	$	544		$	634		$	808
Average during the year	915			1,140			852
Maximum month-end balance	1,133			1,242			872
Weighted-average rate during the year ^(a)	2.34		%	1.34		%	1.18		%
Weighted-average rate at December 31 ^(a)	2.92			2.01			1.11

(a)

Rates exclude the effects of interest rate swaps and caps, which modify the repricing characteristics of certain short-term borrowings. For more information about such financial instruments, see Note 8 (“Derivatives and Hedging Activities”).