Commercial Paper and Other Short-Term Borrowings

6 Months Ended

Jun. 30, 2012

Commercial Paper and Other Short-Term Borrowings and Long-Term Debt [Abstract]

Commercial Paper and Other Short-Term Borrowings

Note 6—Commercial Paper and Other Short-Term Borrowings

The following is a summary of the Company’s commercial paper and other short-term borrowings:

(Dollars in millions)	June 30, 2012		December 31, 2011
Federal funds purchased and securities sold under repurchase agreements with weighted average interest rates of 0.22% and 0.06% at June 30, 2012 and December 31, 2011, respectively	$	198	$	597
Commercial paper, with weighted average interest rates of 0.28% and 0.22% at June 30, 2012 and December 31, 2011, respectively		2,837		2,498
Other borrowed funds:
Term federal funds purchased, with a weighted average interest rate of 0.15% at December 31, 2011		—		50
Federal Home Loan Bank advances, with a weighted average interest rate of 0.48% at December 31, 2011		—		500
All other borrowed funds, with a weighted average interest rate of 0.73% at December 31, 2011		—		38
Total commercial paper and other short-term borrowings	$	3,035	$	3,683