JP Morgan Chase 2010 Annual Report Download - page 264

Notes to consolidated financial statements
JPMorgan Chase & Co./2010 Annual Report
264
At December 31, 2010 and 2009, time deposits in denominations
of $100,000 or more were as follows.
December 31, (in millions)
20
10
2009
U.S.
$
59,653
$ 90,552
Non-U.S.
44,544
77,887
Total
$
104,197
$ 168,439
At December 31, 2010, the maturities of interest-bearing time
deposits were as follows.
December 31, 2010
(in millions) U.S. Non-U.S. Total
2011
$
71,930
$
60,043
$
131,973
2012
7,382
287
7,669
2013
4,281
153
4,434
2014
1,432
22
1,454
2015
2,074
—
2,074
After 5 years
138
131
269
Total
$ 87,237 $ 60,636 $ 147,873
On November 21, 2008, the FDIC released final rules on the FDIC
Temporary Liquidity Guarantee Program (the “TLG Program”). One
component of this program, the Transaction Account Guarantee
Program (the “TAG Program”), provided unlimited deposit insur-
ance through December 31, 2009, on certain noninterest-bearing
transaction accounts at FDIC-insured participating institutions. The
Firm elected to participate in the TLG Program and, as a result, was
required to pay additional insurance premiums to the FDIC in an
amount equal to an annualized 10 basis points on balances in
noninterest-bearing transaction accounts that exceeded the
$250,000 FDIC deposit insurance limits. The expiration date of the
program was extended to December 31, 2010, to provide contin-
ued support to those institutions most affected by the financial
crisis and to enable the program to be phased-out in an orderly
manner. Beginning January 1, 2010, the Firm no longer partici-
pated in the TAG Program. As a result, funds held in noninterest-
bearing transaction accounts after December 31, 2009, were no
longer guaranteed in full. Instead, they are insured up to $250,000
under the FDIC’s general deposit rules.
Note 20 – Other borrowed funds
The following table details the components of other borrowed funds.
December 31, (in millions)
20
10
2009
Advances from Federal Home Loan Banks(a) $ 25,234 $ 27,847
Other
32,075
27,893
Total
(
b
)
(c)
$ 57,309 $ 55,740
(a) Advances from the FHLBs of $11.4 billion, $1.5 billion, $7.3 billion, $1.0
billion and $3.0 billion matures in each of the 12-month periods ending De-
cember 31, 2011, 2012, 2013, 2014, and 2015, respectively, and $928 mil-
lion matures after December 31, 2015.
(b) Includes other borrowed funds of $9.9 billion and $5.6 billion accounted for
at fair value at December 31, 2010 and 2009, respectively. See Note 3 on
pages 170–187 of this Annual Report for further information.
(c) Includes other borrowed funds of $37.8 billion and $30.4 billion secured by
assets totaling $95.3 billion and $144.1 billion at December 31, 2010 and
2009, respectively.
As of December 31, 2010 and 2009, JPMorgan Chase had no
significant lines of credit for general corporate purposes.
Note 21 – Accounts payable and other
liabilities
The following table details the components of accounts payable
and other liabilities.
December 31, (in millions)
20
10
2009
Brokerage payables
(a)
$ 95,359 $
92,848
Accounts pa
yable
and other
liabilities(b) 74,971
69,848
Total
$
170,330
$
162,696
(a) Includes payables to customers, brokers, dealers and clearing organizations,
and securities fails.
(b) Includes $236 million and $357 million accounted for at fair value at Decem-
ber 31, 2010 and 2009, respectively.