Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Components of Short-Term Borrowings

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

December 31,
dollars in millions	2019			2018			2017
FEDERAL FUNDS PURCHASED
Balance at year end	$	200		—			$	3
Average during the year	61			$	537		128
Maximum month-end balance	1,000			3,197			2,331
Weighted-average rate during the year (a)	2.12		%	1.68		%	.72		%
Weighted-average rate at December 31 (a)	1.56			—			—
SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
Balance at year end	$	187		$	319		$	374
Average during the year	203			391			389
Maximum month-end balance	283			614			472
Weighted-average rate during the year (a)	.22		%	.09		%	.08		%
Weighted-average rate at December 31 (a)	.09			.09			.08
OTHER SHORT-TERM BORROWINGS
Balance at year end	$	705		$	544		$	634
Average during the year	730			915			1,140
Maximum month-end balance	847			1,133			1,242
Weighted-average rate during the year (a)	2.31		%	2.34		%	1.34		%
Weighted-average rate at December 31 (a)	1.99			2.92			2.01

 

(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”).