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brokered time and foreign deposits decreased by $530 million, or 18%, during 2011 compared with 2010. This decrease was
due to our ability to grow deposits and, in turn, reduce our reliance upon wholesale funding sources. As of December 31, 2011
securities pledged as collateral for deposits totaled $6.8 billion.
Maturity of Consumer Time and Other Time Deposits in Amounts of $100,000 or More
(Dollars in millions)
Months to maturity:
3 or less
Over 3 through 6
Over 6 through 12
Over 12
Total
December 31, 2011
Consumer
Time
$982
858
1,530
3,074
$6,444
Brokered
Time
$35
90
101
2,055
$2,281
Foreign
Time
$30
—
—
—
$30
Table 21
Total
$1,047
948
1,631
5,129
$8,755
BORROWINGS
Short-Term Borrowings
(Dollars in millions)
2011
Funds purchased 1
Securities sold under agreements to repurchase 1
FHLB advances
Other short-term borrowings 2
2010
Funds purchased 1
Securities sold under agreements to repurchase 1
Other short-term borrowings 2
2009
Funds purchased 1
Securities sold under agreements to repurchase 1
Other short-term borrowings 2
As of December 31
Balance
$839
1,644
7,000
1,983
$951
2,180
2,690
$1,433
1,871
2,062
Rate
0.09%
0.13
0.14
0.50
0.18%
0.17
0.70
0.15%
0.11
1.08
Daily Average
Balance
$1,038
2,157
604
2,861
$1,226
2,416
3,014
$1,670
2,483
2,704
Rate
0.13%
0.15
0.21
0.39
0.19%
0.15
0.43
0.19%
0.18
0.54
Table 22
Maximum
Outstanding at any
Month-End
$1,169
2,411
7,000
3,218
$3,163
2,830
4,894
$3,920
3,333
5,826
1Funds purchased and securities sold under agreements to repurchase mature overnight or at a fixed maturity generally not exceeding three months. Rates
on overnight funds reflect current market rates. Rates on fixed maturity borrowings are set at the time of borrowings.
2Other short-term borrowings includes master notes, dealer collateral, U.S. Treasury demand notes, CP, and other short-term borrowed funds.
Short-Term Borrowings
As of December 31, 2011, our period-end short-term borrowings increased by $5.6 billion, or 97%, from December 31, 2010,
due predominantly to a $7.0 billion increase in short-term FHLB advances, partially offset by a $740 million decrease in
dealer collateral which was reclassified to offset derivatives, and a $536 million decrease in securities sold under agreement
to repurchase.
For the year ended December 31, 2011, our daily average FHLB advances had a significant difference between the maximum
monthly outstanding balance and the period-end outstanding balance resulting from our increase in borrowings during the
fourth quarter of 2011, which is part of our ordinary balance sheet management practices. Our period-end outstanding balances
for funds purchased, securities sold under agreements to repurchase, and other short-term borrowings were not materially
different from maximum monthly outstanding balances or from the daily averages for the year ended December 31, 2011.