Wells Fargo 2015 Annual Report Download - page 155

Note 4: Federal Funds Sold, Securities Purchased under Resale Agreements and Other
Short-Term Investments
Table 4.1 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, 2015 and 2014,
were held at the Federal Reserve.
Table 4.1: Fed Funds Sold and Other Short-Term Investments
(in millions)
Dec 31,
2015
Dec 31,
2014
Federal funds sold and securities
purchased under resale agreements
Interest-earning deposits
Other short-term investments
$ 45,828
220,409
3,893
36,856
219,220
2,353
Total $ 270,130 258,429
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
$2.2 billion and $2.6 billion as of December 31, 2015 and 2014,
respectively.
We have classified securities purchased under long-term
resale agreements (generally one year or more), which totaled
$20.1 billion and $14.9 billion at December 31, 2015 and 2014,
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).
Wells Fargo & Company
153