eTrade 2011 Annual Report Download - page 143
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NOTE 12—SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND FHLB ADVANCES
AND OTHER BORROWINGS
Other borrowings, including maturities, at December 31, 2011 and other borrowings at December 31, 2010
are shown below (dollars in thousands):
FHLB Advances and
Other Borrowings
Repurchase
Agreements (1)
FHLB
Advances Other Total
Weighted
Average
Interest Rate
Years Ending December 31,
2012 $ 3,181,394 $ 820,000 $ 5,318 $4,006,712 0.55 %
2013 934,105 — 1,280 935,385 0.72 %
2014 200,000 320,000 32 520,032 4.72 %
2015 200,000 483,600 — 683,600 3.31 %
2016 200,000 250,000 — 450,000 4.24 %
Thereafter 300,000 400,000 427,610 1,127,610 3.47 %
Subtotal 5,015,499 2,273,600 434,240 7,723,339 1.74 %
Fair value hedge adjustments — 29,095 — 29,095
Total other borrowings at
December 31, 2011 $5,015,499 $2,302,695 $434,240 $7,752,434 1.74 %
Total other borrowings at
December 31, 2010 $5,888,249 $2,284,144 $447,570 $8,619,963 1.41 %
(1) The maximum amount at any month end for repurchase agreements was $5.9 billion and $6.5 billion for the years ended December 31,
2011 and 2010.
Securities Sold Under Agreements to Repurchase
Repurchase agreements are collateralized by fixed- and variable-rate mortgage-backed securities or
investment grade securities. The brokers retain possession of the securities collateralizing the repurchase
agreements until maturity of the repurchase agreement. At December 31, 2011, there were no counterparties with
whom the Company’s amount of risk exceeded 10% of its shareholders’ equity.
Below is a summary of repurchase agreements and collateral associated with the repurchase agreements at
December 31, 2011 (dollars in thousands):
Collateral
Repurchase Agreements
U.S. Government Sponsored
Enterprise Obligations
Contractual Maturity
Weighted
Average
Interest Rate Amount Amortized Cost Fair Value
Up to 30 days 0.65% $1,767,088 $1,848,074 $1,863,806
30 to 90 days 1.53% 175,214 187,212 190,203
Over 90 days 1.08% 3,073,197 3,283,282 3,335,733
Total 0.95% $5,015,499 $5,318,568 $5,389,742
FHLB Advances and Other Borrowings
FHLB Advances—The Company had $0.5 billion and $0.4 billion in floating-rate and $1.8 billion and $1.9
billion in fixed-rate FHLB advances at December 31, 2011 and 2010, respectively. The floating-rate advances
adjust quarterly based on the LIBOR. As a condition of its membership in the FHLB Atlanta, the Company is
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