eTrade 2012 Annual Report Download - page 95

Bank’s term investment option and treasury, tax and loan borrowing programs. We use the proceeds from these
transactions to meet our cash flow or asset/liability matching needs.
The following table sets forth information regarding the weighted-average interest rates and the highest and
average month-end balances of borrowings (dollars in millions):
Ending
Balance
Weighted-
Average Interest
Rate (1)
Maximum
Amount at
Month-End
Weighted-Average
Balance
Interest
Rate(2)
At or for the year ended December 31, 2012:
Securities sold under agreements to repurchase $4,454.7 0.70% $5,025.4 $4,775.1 3.32%
FHLB advances and other borrowings (3) $1,259.4 1.27% $2,744.1 $2,464.9 3.76%
At or for the year ended December 31, 2011:
Securities sold under agreements to repurchase $5,015.5 0.95% $5,891.6 $5,417.2 2.83%
FHLB advances and other borrowings (3) $2,732.5 3.19% $2,759.7 $2,741.1 3.87%
At or for the year ended December 31, 2010:
Securities sold under agreements to repurchase $5,888.3 0.63% $6,458.1 $6,154.3 2.11%
FHLB advances and other borrowings (3) $2,731.4 3.09% $3,102.1 $2,754.3 4.33%
(1) Weighted-average interest rates are based on ending balances and exclude hedging costs.
(2) Weighted-average interest rates are based on average balances and include hedging costs.
(3) Excludes other borrowings of the parent company of $1.5 million, $4.4 million and $0.3 million at December 31, 2012, 2011 and 2010,
respectively, which do not generate operating interest expense. These liabilities generate corporate interest expense.
GLOSSARY OF TERMS
2009 Debt Exchange—In the third quarter of 2009, we exchanged $1.7 billion aggregate principal amount
of our corporate debt, including $1.3 billion principal amount of the 12
1
⁄ 2 % springing lien notes due November
2017 and $0.4 billion principal amount of the 8% senior notes due June 2011, for an equal principal amount of
newly-issued non-interest-bearing convertible debentures due 2019.
Active accounts—Accounts with a balance of $25 or more or a trade in the last six months.
Active customers—Customers that have an account with a balance of $25 or more or a trade in the last six
months.
Active Trader—The customer group that includes those who execute 30 or more trades per quarter.
Adjusted total assets—E*TRADE Bank-only assets composed of total assets plus/(less) unrealized losses
(gains) on available-for-sale securities, less disallowed deferred tax assets, goodwill and certain other intangible
assets.
Agency—U.S. Government sponsored and federal agencies, such as Federal National Mortgage Association,
Federal Home Loan Mortgage Corporation, Government National Mortgage Association, the Small Business
Administration and the Federal Home Loan Bank.
ALCO—Asset Liability Committee.
AML—Anti-Money Laundering.
APIC—Additional paid-in capital.
Average commission per trade—Total trading and investing segment commissions revenue divided by total
number of trades.
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