US Bank 2009 Annual Report Download - page 95

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Note 12 Short-Term Borrowings (a)
The following table is a summary of short-term borrowings for the last three years:
(Dollars in Millions) Amount Rate Amount Rate Amount Rate
2009 2008 2007
At year-end
Federal funds purchased. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,329 .11% $ 2,369 .17% $ 2,817 1.88%
Securities sold under agreements to repurchase . . . . . . . . . . . . . . . . . . . 8,866 2.82 9,493 2.65 10,541 4.11
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,608 .17 10,061 .22 11,229 4.17
Other short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,509 .48 12,060 1.87 7,783 5.04
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $31,312 .98% $33,983 1.48% $32,370 4.16%
Average for the year
Federal funds purchased (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,457 8.22% $ 3,834 5.19% $ 2,731 9.63%
Securities sold under agreements to repurchase . . . . . . . . . . . . . . . . . . . 8,915 2.84 11,982 3.07 10,939 4.53
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,924 .32 10,532 1.91 9,265 4.75
Other short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,853 .89 11,889 3.16 5,990 5.54
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $29,149 1.89% $38,237 2.99% $28,925 5.29%
Maximum month-end balance
Federal funds purchased. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,352 $ 9,681 $ 4,419
Securities sold under agreements to repurchase . . . . . . . . . . . . . . . . . . . 9,154 15,198 12,181
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,608 11,440 11,229
Other short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,550 17,642 7,783
(a) Interest and rates are presented on a fully taxable-equivalent basis utilizing a tax rate of 35 percent.
(b) Average federal funds purchased rates include compensation expense for corporate card and corporate trust balances.
U.S. BANCORP 93