Wells Fargo 2014 Annual Report Download - page 153

Note 4: Federal Funds Sold, Securities Purchased under Resale Agreements and Other
Short-Term Investments
The following table provides the detail of federal funds sold,
securities purchased under short-term resale agreements
(generally less than one year) and other short-term investments.
The majority of interest-earning deposits at December 31, 2014
and 2013, were held at the Federal Reserve.
Dec. 31, Dec. 31,
(in millions) 2014 2013
Federal funds sold and securities
purchased under resale agreements $ 36,856 25,801
Interest-earning deposits 219,220 186,249
Other short-term investments 2,353 1,743
Total $ 258,429 213,793
As part of maintaining our memberships in certain clearing
organizations, we are required to stand ready to provide liquidity
meant to sustain market clearing activity in the event unforeseen
events occur or are deemed likely to occur. This includes
commitments we have entered into to purchase securities under
resale agreements from a central clearing organization that, at
its option, require us to provide funding under such agreements.
We do not have any outstanding amounts funded, and the
amount of our unfunded contractual commitment was
$2.6 billion and $3.1 billion as of December 31, 2014 and 2013,
respectively.
We have classified securities purchased under long-term
resale agreements (generally one year or more), which totaled
$14.9 billion and $10.1 billion at December 31, 2014 and 2013,
respectively, in loans. For additional information on the
collateral we receive from other entities under resale agreements
and securities borrowings, see the “Offsetting of Resale and
Repurchase Agreements and Securities Borrowing and Lending
Agreements” section of Note 14 (Guarantees, Pledged Assets and
Collateral).
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