Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2014

Cash and Cash Equivalents [Abstract]

The following table details our cash and cash equivalents at March 31, 2014 and December 31, 2013:



(Dollars in thousands)	March 31, 2014		December 31, 2013
Cash and due from banks (1)	$	3,723,034	$	1,349,688
Securities purchased under agreements to resell (2)	117,036		172,989
Other short-term investment securities	22,394		16,102
Total cash and cash equivalents	$	3,862,464	$	1,538,779


(1)	At March 31, 2014 and December 31, 2013, $3 billion and $715 million, respectively, of our cash and due from banks was deposited at the Federal Reserve Bank and was earning interest at the Federal Funds target rate, and interest-earning deposits in other financial institutions were $391 million and $300 million, respectively.


(2)	At March 31, 2014 and December 31, 2013, securities purchased under agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $119 million and $176 million, respectively. None of these securities received as collateral were sold or repledged as of March 31, 2014 or December 31, 2013.

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

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