Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2014

Cash and Cash Equivalents [Abstract]

The following table details our cash and cash equivalents at June 30, 2014 and December 31, 2013:



(Dollars in thousands)	June 30, 2014		December 31, 2013
Cash and due from banks (1)	$	2,589,946	$	1,349,688
Securities purchased under agreements to resell (2)	53,764		172,989
Other short-term investment securities	6,121		16,102
Total cash and cash equivalents	$	2,649,831	$	1,538,779


(1)	At June 30, 2014 and December 31, 2013, $1.7 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 $443 million and $300 million, respectively.


(2)	At June 30, 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 $55 million and $176 million, respectively. None of these securities received as collateral were sold or repledged as of June 30, 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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