Capital One 2011 Annual Report Download - page 221

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED STATEMENTS—(Continued)
Senior and Subordinated Debt
As of December 31, 2011, we had $11.0 billion of senior and subordinated notes outstanding, which included
$823 million in fair value hedging losses. As of December 31, 2010, we had $8.7 billion of senior and
subordinated notes outstanding, including $578 million in fair value hedging losses. One senior note for $854
million matured during the year ended December 31, 2011. See “Note 11—Derivative Instruments and Hedging
Activities” for information about our fair value hedging activities. During 2011, we issued four different series of
our senior notes for total proceeds of approximately $3.0 billion. The offering of senior notes included $250
million aggregate principal amount of our Floating Rate Senior Notes due 2014, $750 million aggregate principal
amount of our 2.125% Senior Notes due 2014, $750 million aggregate principal amount of our 3.150% Senior
Notes due 2016 and $1.25 billion aggregate principal amount of our 4.750% Senior Notes due 2021.
Under a Senior and Subordinated Global Bank Note Program, COBNA has issued debt securities to both U.S.
and non-U.S. lenders and raised funds in U.S. and foreign currencies. The Senior and Subordinated Global Bank
Note Program had $810 million and $820 million outstanding at December 31, 2011 and 2010, respectively.
See “Note 11—Derivative Instruments and Hedging Activities” for information about our fair value hedging
activities.
Junior Subordinated Debentures
We had $3.6 billion of outstanding junior subordinated debentures as of both December 31, 2011 and 2010. There
were no junior subordinated borrowings that were called or matured during the year ended December 31, 2011.
FHLB Advances
We had outstanding FHLB advances, which are secured by our investment securities, residential home loan
portfolio, multifamily loans, commercial real-estate loans and home equity lines of credit, totaling $6.9 billion
and $1.1 billion as of December 31, 2011 and 2010, respectively.
Composition of Customer Deposits, Short-term Borrowings and Long-term Debt
The table below summarizes the components of our deposits, short-term borrowings and long-term debt as of
December 31, 2011 and 2010. Our total short-term borrowings consist of federal funds purchased and securities
loaned under agreements to repurchase and other short-term borrowings with an original contractual maturity of
one year or less. Our long-term debt consists of borrowings with an original contractual maturity of greater than
one year. The amounts presented for outstanding borrowings include unamortized debt premiums and discounts,
net of fair value hedge accounting adjustments.
December 31,
(Dollars in millions) 2011 2010
Deposits:
Non-interest bearing deposits .................................................. $ 18,281 $ 15,048
Interest-bearing deposits ...................................................... 109,945 107,162
Total deposits .......................................................... $128,226 $122,210
Short-term borrowings:
Federal Funds purchased and securities loaned or sold under agreements to repurchase .... $ 1,464 $ 1,517
FHLB Advances ............................................................ 5,835 0
Other short-term borrowings .................................................. 07
Total short-term borrowings ............................................... $ 7,299 $ 1,524
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