JP Morgan Chase 2010 Annual Report Download - page 299

JPMorgan Chase & Co./2010 Annual Report
299
Short-term and other borrowed funds
The following table provides a summary of JPMorgan Chase’s short-term and other borrowed funds for the years indicated.
(a) Includes securities sold but not yet purchased.
(b) Included on the Consolidated Balance Sheets in beneficial interests issued by consolidated variable interest entities.
(c) Reflects a benefit from the favorable market environments for U.S. dollar-roll financings.
Federal funds purchased represent overnight funds. Securities
loaned or sold under repurchase agreements generally mature
between one day and three months. Commercial paper generally is
issued in amounts not less than $100,000, and with maturities of
270 days or less. Other borrowed funds consist of demand notes,
term federal funds purchased, and various other borrowings that
generally have maturities of one year or less.
As of or for the year ending December 31, (in millions, except rates)
2010
2009
2008
Federal funds purchased and securities loaned or sold under repurchase agreements
:
Balance at year
-
end
$
276,644
$
261,413
$
192,546
Average daily balance during the year
278,603
275,862
196,739
Maximum month
-
end bala
nce
314,161
310,802
224,075
Weighted
-
average rate at December 31
0.18%
0.04%
0.97
%
Weighted
-
average rate during the year
(
0.07
)
(c)
0.21
2.37
Commercial paper:
Balance at year
-
end
$
35,363
$
41,794
$
37,845
Average daily balance d
uring the year
36,000
39,055
45,734
Maximum month
-
end balance
50,554
53,920
54,480
Weighted
-
average rate at December 31
0.21%
0.18%
0.82
%
Weighted
-
average rate during the year
0.20
0.28
2.24
Other borrowed funds:
(a)
Balance at year
-
end
$
134,256
$
120,686
$
177,674
Average daily balance during the year
121,949
130,767
118,714
Maximum month
-
end balance
137,347
188,004
244,040
Weighted
-
average rate at December 31
4.
48
%
3.37%
3.65
%
Weighted
-
average rate during the year
2.34
2.92
4.29
Short-term beneficial interests:(b)
Commercial paper
and other borrowed funds
:
Balance at year
-
end
$
25,095
$
4,787
$
—
Average daily balance during the year
21,
853
3,275
1,846
Maximum month
-
end balance
25,09
5
7,751
3,459
Weighted
-
average rate at December 31
0.25
%
0.17%
NA
Weighted
-
average rate during the year
0.2
7
0.24
2.49
%