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Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
The following table presents information about these U.S. government securities and the carrying value of the related repurchase agreements, including accrued interest, as of December 31, 2018.
 
U.S. Government
Securities Sold
 
Repurchase
Agreements(1)
(In millions)
Amortized
Cost
 
Fair Value
 
Amortized
Cost
Overnight maturity
$
1,127

 
$
1,100

 
$
1,082

 
 
(1) Collateralized by investment securities.
The following table presents information with respect to the amounts outstanding and weighted-average interest rates of the primary components of our short-term borrowings as of and for the years ended December 31:
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
(Dollars in millions)
Securities Sold Under
Repurchase Agreements
 
Tax-Exempt
Investment Program
 
Other
Balance as of December 31
$
1,082

 
$
2,842

 
$
4,400

 
$
931

 
$
1,078

 
$
1,158

 
$
2,000

 
$
—

 
$
—

Maximum outstanding as of any month-end
3,441

 
4,302

 
5,572

 
1,078

 
1,158

 
1,726

 
2,000

 
—

 
29

Average outstanding during the year
2,048

 
3,683

 
4,113

 
1,023

 
1,127

 
1,512

 
nm

 
1

 
31

Weighted-average interest rate as of year-end
1.38
%
 
.03
%
 
.04
%
 
1.74
%
 
1.45
%
 
.67
%
 
2.68
%
 
.00
%
 
.00
%
Weighted-average interest rate during the year
.62

 
.05

 
.02

 
1.46

 
.79

 
.36

 
nm

 
.00

 
.17

 
 
nm Not meaningful