eTrade 2008 Annual Report Download - page 131
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Other Investments
The Company has made investments in low income housing tax credit partnerships, venture funds and several
non-public, venture capital-backed, high technology companies. As of December 31, 2008, the Company had $9.7
million in commitments to fund low income housing tax credit partnerships, venture funds and joint ventures.
Equity Method Investments
Equity method investments are reported as part of the other investments balance within the other assets line
item on the consolidated balance sheet and consist of the following (dollars in thousands):
December 31,
2008 2007
Arrowpath Fund II, L.P. $21,765 $ 25,311
MMA Mid-Atlantic Affordable Housing Fund III 3,478 3,859
Investsmart — 158,236
Softbank Capital Partners Inc. — 5,520
Other 11,470 14,908
Total equity method investments $36,713 $207,834
NOTE 13—DEPOSITS
Deposits are summarized as follows (dollars in thousands):
Weighted-Average
Rate Amount
Percentage
to Total
December 31, December 31, December 31,
2008 2007 2008 2007 2008 2007
Money market and savings accounts 2.73% 4.55% $12,692,729 $10,028,115 48.6% 38.7%
Sweep deposit accounts (1) 0.07% 0.87% 9,650,431 10,112,123 36.9 39.1
Certificates of deposit 3.37% 4.93% 2,363,385 4,156,674 9.0 16.1
Checking accounts 1.06% 1.79% 991,477 495,618 3.8 1.9
Brokered certificates of deposit 4.48% 4.51% 438,224 1,092,225 1.7 4.2
Total deposits 1.77% 3.12% $26,136,246 $25,884,755 100.0%100.0%
(1) A sweep product transfers brokerage customer balances to the Bank, which holds these funds as customer deposits in FDIC-insured
demand deposits and money market deposit accounts.
Deposits, classified by rates are as follows (dollars in thousands):
December 31,
2008 2007
Less than 2% $12,177,178 $ 9,665,937
2.00%–3.99% 13,067,930 3,490,918
4.00%–5.99% 889,446 12,707,002
6.00% and above 1,659 21,640
Subtotal 26,136,213 25,885,497
Fair value adjustments 33 (742)
Total deposits $26,136,246 $25,884,755
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