OTHER BORROWINGS

12 Months Ended

Sep. 30, 2011

NOTE 12 – OTHER BORROWINGS

The following table details the components of other borrowings:

	September 30,
	2011		2010
	(in thousands)
Other borrowings:
FHLB advances	$	-	$	2,445,000	(1)
Borrowings on secured lines of credit (2)		-		62,000
Borrowings on unsecured lines of credit (3)		-		50,000
Total other borrowings	$	-	$	2,557,000

(1)

FHLB advances outstanding as of September 30, 2010 consisted of several short-term fixed-rate advances and one $2.4 billion overnight advance to meet point-in-time regulatory balance sheet composition requirements related to RJ Bank qualifying as a thrift institution. The overnight advance was repaid on October 1, 2010. See Note 22 for further discussion of these point-in-time requirements.

(2)	Any borrowings on secured lines of credit are day-to-day and are generally utilized to finance certain fixed income securities.

(3)	Any borrowings on unsecured lines of credit are day-to-day and are generally utilized for cash management purposes.

The interest rates for all of our U.S. and Canadian secured and unsecured financing facilities are variable and are based on the Fed Funds rate, LIBOR, or Canadian prime rate, as applicable. For the fiscal year ended September 30, 2011, interest rates on the U.S. and Canadian utilized financing facilities ranged from 0.19% to 3% (on a 360 days per year basis). For the fiscal year ended September 30, 2010, those interest rates ranged from 0.39% to 2.75% (on a 360 days per year basis).

The interest rates for the settlement lines of credit available to our Argentine joint venture are variable and are based on certain indices, including the U.S. prime rate as well as other Argentina-based market indices. As of September 30, 2011, there are no borrowings outstanding on these lines. For the fiscal year ended September 2011, interest rates on these settlement lines of credit ranged from 4.25% to 25% (on a 360 days per year basis). For the fiscal year ended September 30, 2010, the interest rates on these settlement lines of credit ranged from 4.25% to 17% (on a 360 days per year basis).

As of September 30, 2011, there were other collateralized financings outstanding in the amount of $188.8 million. These other collateralized financings are included in securities sold under agreements to repurchase on the Consolidated Statements of Financial Condition. As of September 30, 2010, in addition to the $62 million of secured borrowings and $50 million in unsecured borrowings described above, there were other collateralized financings outstanding in the amount of $233.3 million which are included in securities sold under agreements to repurchase on the Consolidated Statements of Financial Condition. These financings are collateralized by non-customer, RJ&A-owned securities.