SHORT-TERM BORROWINGS

12 Months Ended

Dec. 31, 2010

SHORT-TERM BORROWINGS

NOTE 16 - SHORT-TERM BORROWINGS

	12/31/2010		12/31/2009
Trade financing borrowings		8,075		6,093
Local onlending		378		215
Euronotes		1,306		414
Fixed rate notes		92		408
Mortgage notes		10,595		7,854
Securities issued and sold to customers under repurchase agreements		101,207		65,520
Other short-term borrowings		1,388		221
TOTAL		123,041		80,725

Trade finance borrowings represent credit line available to finance imports and exports by Brazilian companies, usually denominated in foreign currency. The following table presents the interest rates in each type of borrowings (p.a.):

	12/31/2010	12/31/2009
Trade financing borrowings	0.10% to 10.00%	1.00% to 13.28%
Local onlending	1.50% to 10.00%	1.50% to 11.50%
Euronotes	0.40% to 2.50%	0.23% to 10.91%
Fixed rate notes	1.35% to 10.37%	0.95% to 8.93%
Mortgage notes	2.04% to 10.64%	1.28% to 8.55%

Under "Securities issued and sold to customers under repurchase agreements", we present our liabilities for transactions in which we sell for cash to customers debt securities issued by our consolidated subsidiaries previously held in treasury and where we commit to repurchase them at any moment after sold to the customer and through a final repurchase date on which they are mandatorily repurchased by us. The repurchase price is computed as the price paid on the date of sale plus interest at rates varying between 70% and 112.4% of the CDI (Interbank Certificate of Deposits) rate. The final repurchase dates extend through September 2024.