Comerica 2009 Annual Report Download - page 115

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
Note 13 — Short-Term Borrowings
Federal funds purchased and securities sold under agreements to repurchase generally mature within one to
four days from the transaction date. Other short-term borrowings, which may consist of Federal Reserve Term
Auction Facility borrowings, commercial paper, borrowed securities, term federal funds purchased, short-term
notes and treasury tax and loan deposits, generally mature within one to 120 days from the transaction date. The
following table provides a summary of short-term borrowings.
Federal Funds Purchased Other
and Securities Sold Under Short-term
Agreements to Repurchase Borrowings
(dollar amounts in millions)
December 31, 2009
Amount outstanding at year-end .......................... $ 462 $ —
Weighted average interest rate at year-end ................... 0.03% —%
Maximum month-end balance during the year ................ $ 655 $2,558
Average balance outstanding during the year ................. 467 532
Weighted average interest rate during the year ................ 0.19% 0.28%
December 31, 2008
Amount outstanding at year-end .......................... $ 696 $1,053
Weighted average interest rate at year-end ................... 0.37% 0.40%
Maximum month-end balance during the year ................ $3,617 $3,046
Average balance outstanding during the year ................. 2,105 1,658
Weighted average interest rate during the year ................ 2.20% 2.43%
December 31, 2007
Amount outstanding at year-end .......................... $1,749 $1,058
Weighted average interest rate at year-end ................... 1.84% 3.87%
Maximum month-end balance during the year ................ $1,985 $1,191
Average balance outstanding during the year ................. 1,854 226
Weighted average interest rate during the year ................ 5.04% 5.21%
At December 31, 2009, Comerica Bank (the Bank), a subsidiary of the Corporation, had pledged loans
totaling $11 billion which provided for up to $7 billion of collateralized borrowing with the FRB.
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