Fifth Third Bank 2005 Annual Report Download - page 67

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Fifth Third Bancorp 65
9. OTHER ASSETS
The following table provides the components of other assets included in the Consolidated Balance Sheets as of December 31, 2005:
($ in millions) 2005 2004
Bank owned life insurance $1,865 1,573
Accounts receivable and drafts-in-process 1,073 916
Partnership investments 388 183
Derivative instruments 192 271
Prepaid pension and other expenses 188 61
Other real estate owned 54 63
Other 116 126
Total $3,876 3,193
10. SHORT-TERM BORROWINGS
Borrowings with original maturities of one year or less are classified
as short term. Federal funds purchased are excess balances in
reserve accounts held at Federal Reserve Banks that the Bancorp
purchased from other member banks on an overnight basis. Bank
notes are promissory notes issued by the Bancorp’s subsidiary
banks. Other short-term borrowings include securities sold under
repurchase agreements, Federal Home Loan Bank advances and
other borrowings with original maturities of one year or less. A
summary of short-term borrowings and weighted-average rates
follows:
2005 2004 2003
($ in millions) Amount Rate Amount Rate Amount Rate
As of December 31:
Federal funds purchased $5,323 3.93% $4,714 2.00% $6,928 .91%
Short-term bank notes -- 775 2.30 500 1.05
Other short-term borrowings 4,246 2.94 4,537 1.71 5,742 .74
Average for the years ending December 31:
Federal funds purchased $4,225 3.26% $5,896 1.30% $7,001 1.14%
Short-term bank notes 248 2.60 1,003 1.46 22 1.06
Other short-term borrowings 5,038 2.74 6,640 1.17 5,350 1.03
Maximum month-end balance:
Federal funds purchased $6,378 $8,037 $7,768
Short-term bank notes 775 1,275 500
Other short-term borrowings 6,531 8,233 6,907
As of December 31, 2005, the Bancorp had issued $2 million in commercial paper, with unused lines of credit of $98 million available to
support commercial paper transactions and other corporate requirements.