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Table 18 DERIVATIVE POSITIONS
ASSET AND LIABILITY MANAGEMENT POSITIONS
December 31, 2008 (Dollars in Millions) 2009 2010 2011 2012 2013 Thereafter Total
Fair
Value
Weighted-
Average
Remaining
Maturity
In Years
Maturing
Interest Rate Contracts
Receive fixed/pay floating swaps
Notional amount . . . . . . . . . . . . . . . . . . $ – $ – $ – $ – $– $2,750 $ 2,750 $ 226 51.08
Weighted-average
Receive rate . . . . . . . . . . . . . . . . . . . –% –% –% –% –% 6.33% 6.33%
Pay rate. . . . . . . . . . . . . . . . . . . . . . –––––1.14 1.14
Pay fixed/receive floating swaps
Notional amount . . . . . . . . . . . . . . . . . . $ 4,000 $3,575 $ – $ – $– $4,429 $12,004 $(1,049) 3.42
Weighted-average
Receive rate . . . . . . . . . . . . . . . . . . . 1.43% 2.67% –% –% –% 2.95% 2.36%
Pay rate. . . . . . . . . . . . . . . . . . . . . . 4.49 3.40 – – – 5.17 4.42
Futures and forwards
Buy . . . . . . . . . . . . . . . . . . . . . . . . . . . $20,268 $ – $ – $ – $– $ – $20,268 $ 156 .08
Sell . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,671 –––––8,671 (75) .12
Options
Purchased . . . . . . . . . . . . . . . . . . . . . . $ 5,750 $ – $ – $ – $– $ – $ 5,750 $ – .07
Written . . . . . . . . . . . . . . . . . . . . . . . . . 3,712 –––––3,712 20 .10
Foreign Exchange Contract
Cross-currency swaps
Notional amount . . . . . . . . . . . . . . . . . . $ – $ – $ – $ – $– $1,766 $ 1,766 $ 122 7.84
Weighted-average
Receive rate . . . . . . . . . . . . . . . . . . . –% –% –% –% –% 4.26% 4.26%
Pay rate. . . . . . . . . . . . . . . . . . . . . . –––––.87.87
Forwards . . . . . . . . . . . . . . . . . . . . . . . . . $ 878 $ – $ – $ – $– $ – $ 878 $ (29) .04
Equity Contracts .................... $ 37 $ – $19 $ – $– $ – $ 56 $ (7) 1.06
Credit Default Swaps ................ $ 13 $ 18 $13 $20 $– $ – $ 64 $ 6 2.38
CUSTOMER-RELATED POSITIONS
December 31, 2008 (Dollars in Millions) 2009 2010 2011 2012 2013 Thereafter Total
Fair
Value
Weighted-
Average
Remaining
Maturity
In Years
Maturing
Interest Rate Contracts
Receive fixed/pay floating swaps
Notional amount. . . . . . . . . . . . . . . . . . . $2,775 $4,562 $2,773 $2,210 $3,117 $5,715 $21,152 $ 1,577 4.83
Pay fixed/receive floating swaps
Notional amount. . . . . . . . . . . . . . . . . . . 2,767 4,552 2,773 2,167 3,171 5,731 21,161 (1,556) 4.92
Options
Purchased . . . . . . . . . . . . . . . . . . . . . . 607 562 514 75 133 64 1,955 (51) 1.92
Written . . . . . . . . . . . . . . . . . . . . . . . . . 607 562 514 75 133 64 1,955 51 1.92
Risk participation agreements
Purchased . . . . . . . . . . . . . . . . . . . . . . 61 126 114 151 141 116 709 2 4.43
Written . . . . . . . . . . . . . . . . . . . . . . . . . 331 218 147 230 389 137 1,452 (2) 3.33
Foreign Exchange Rate Contracts
Forwards, spots and swaps
Buy . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,517 $ 168 $ 26 $ 6 $ 3 $ – $ 3,720 $ 285 .37
Sell . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,448 171 28 5 4 – 3,656 (263) .37
Options
Purchased . . . . . . . . . . . . . . . . . . . . . . 324 117 61 1 – – 503 28 .81
Written . . . . . . . . . . . . . . . . . . . . . . . . . 324 117 61 1 – – 503 (28) .81
50 U.S. BANCORP