Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

Cash and Cash Equivalents

The following table details our cash and cash equivalents at December 31, 2019 and December 31, 2018:

(Dollars in thousands)	December 31, 2019		December 31, 2018
Cash and due from banks (1)	$	6,492,443	$	3,444,971
Securities purchased under agreements to resell (2)	289,340		123,611
Other short-term investment securities	—		2,957
Total cash and cash equivalents	$	6,781,783	$	3,571,539

(1) At December 31, 2019 and 2018, $3.7 billion and $1.7 billion, respectively, of our cash and due from banks was deposited at the FRB and was earning interest at the Federal Funds target rate, and interest-earning deposits in other financial institutions were $2.1 billion and $1.2 billion, respectively.

(2) At December 31, 2019 and 2018, securities purchased under agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $295 million and $126 million, respectively. None of these securities were sold or repledged as of December 31, 2019 and 2018.

Additional information regarding our securities purchased under agreements to resell for 2019 and 2018 are as follows:

	Year ended December 31,
(Dollars in thousands)	2019		2018
Average securities purchased under agreements to resell	$	166,205	$	132,938
Maximum amount outstanding at any month-end during the year	613,247		375,180