Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Short-Term Borrowed Funds

12 Months Ended

Dec. 31, 2011

Federal Funds Purchased Securities Sold Under Agreements To Repurchase And Short Term Borrowed Funds [Abstract]

Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Short-Term Borrowed funds

NOTE 8.Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Short-Term Borrowed Funds

Federal funds purchased, securities sold under agreements to repurchase and short-term borrowed funds are summarized as follows:

		December 31,
		2011		2010
		(Dollars in millions)
Federal funds purchased		$	12	$	23
Securities sold under agreements to repurchase			619		1,189
Master notes			296		806
Other short-term borrowed funds			2,639		3,655
	Total	$	3,566	$	5,673

Federal funds purchased represent unsecured borrowings from other banks and generally mature daily. Securities sold under agreements to repurchase are borrowings collateralized primarily by securities of the U.S. government or its agencies. Master notes are unsecured, non-negotiable obligations of BB&T (variable rate commercial paper) that mature in 270 days or less. Other short-term borrowed funds include unsecured bank notes that mature in less than one year, bank obligations with a maturity of seven days that are collateralized by municipal securities, U.S. Treasury tax and loan deposit notes payable to the U.S. Treasury upon demand.

A summary of selected data related to Federal funds purchased, securities sold under agreements to repurchase and short-term borrowed funds follows:

		As of / For the Years Ended December 31,
		2011			2010			2009
		(Dollars in millions)
	Maximum outstanding at any month-end during the year	$	10,473		$	11,690		$	19,917
	Balance outstanding at end of year		3,566			5,673			8,106
	Average outstanding during the year		5,189			9,022			12,491
	Average interest rate during the year (1)		0.21	%		0.24	%		0.46	%
	Average interest rate at end of year		0.20			0.46			0.34
(1)	Includes the impact of derivative activities.