3. CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Cash and cash equivalents include cash, amounts due from banks, money-market funds, and other short-term investments with original maturities up to 90 days. Short-term investments include short-term bank placements and overnight securities purchased under resale agreements, recorded at cost, which approximates market.

The composition of cash and cash equivalents at December 31, 2012 and 2011 is presented as follows:

	December 31,
	2012		2011
	(Dollars in thousands)
Cash and amounts due from banks	$	933,050	$	761,892
Cash equivalents:
Money market funds	3,526		621
Other short-term investments	386,530		668,672
Total cash and cash equivalents	$	1,323,106	$	1,431,185

Short-term investments include interest-bearing deposits in other banks and other short-term investments with original maturities of greater than 90 days and less than one year.

The following table provides information on short-term investments as of and for the period ended December 31, 2012 and 2011.

	December 31,
	2012		2011
	(Dollars in thousands)
Balance at end of year	$	366,378	$	61,834
Average balance outstanding during the year	242,937		107,893
Maximum balance outstanding at any month-end	367,283		141,627
Weighted average interest rate at end of year	2.64%		1.34%