Wells Fargo 2011 Annual Report Download - page 46

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Balance Sheet Analysis (continued)
Deposits
Deposits totaled $920.1 billion at December 31, 2011,
compared with $847.9 billion at December 31, 2010. Table 14
provides additional detail regarding deposits. Comparative
detail of average deposit balances is provided in Table 5 under
“Earnings Performance – Net Interest Income” earlier in this
Report. Total core deposits were $872.6 billion at
December 31, 2011, up $74.4 billion from $798.2 billion at
December 31, 2010. We continued to gain new deposit
customers and deepen our relationships with existing
customers in 2011.
Table 14: Deposits
December 31,
% of
% of
total
total
%
(in millions)
2011
deposits
2010
deposits
Change
Noninterest-bearing
$
243,961
26
%
$
191,231
23
%
28
Interest-bearing checking
37,027
4
63,440
7
(42)
Market rate and other savings
485,534
53
431,883
51
12
Savings certificates
63,617
7
77,292
9
(18)
Foreign deposits (1)
42,490
5
34,346
4
24
Core deposits
872,629
95
798,192
94
9
Other time and savings deposits
20,745
2
19,412
2
7
Other foreign deposits
26,696
3
30,338
4
(12)
Total deposits
$
920,070
100
%
$
847,942
100
%
9
(1)
Reflects Eurodollar sweep balances included in core deposits.
Off-Balance Sheet Arrangements
In the ordinary course of business, we engage in financial
transactions that are not recorded in the balance sheet, or may
be recorded in the balance sheet in amounts that are different
from the full contract or notional amount of the transaction.
These transactions are designed to (1) meet the financial needs
of customers, (2) manage our credit, market or liquidity risks,
(3) diversify our funding sources, and/or (4) optimize capital.
Off-Balance Sheet Transactions with Unconsolidated
Entities
We routinely enter into various types of on- and off-balance
sheet transactions with special purpose entities (SPEs), which
are corporations, trusts or partnerships that are established for
a limited purpose. Historically, the majority of SPEs were
formed in connection with securitization transactions. For
more information on securitizations, including sales proceeds
and cash flows from securitizations, see Note 8 (Securitizations
and Variable Interest Entities) to Financial Statements in this
Report.
Guarantees and Certain Contingent Arrangements
Guarantees are contracts that contingently require us to make
payments to a guaranteed party based on an event or a change
in an underlying asset, liability, rate or index. Guarantees are
generally in the form of standby letters of credit, securities
lending and other indemnifications, liquidity agreements,
written put options, recourse obligations, residual value
guarantees and contingent consideration.
For more information on guarantees and certain contingent
arrangements, see Note 14 (Guarantees) to Financial
Statements in this Report.
44