Borrowings

The following table summarizes securities sold under agreements to repurchase and other borrowings:



	At December 31,
(In thousands)	2015		2014
Securities sold under agreements to repurchase:
Original maturity of one year or less	$	334,400	$	409,756
Original maturity of greater than one year, non-callable	500,000		550,000
Total securities sold under agreements to repurchase	834,400		959,756
Fed funds purchased	317,000		291,000
Securities sold under agreements to repurchase and other borrowings	$	1,151,400	$	1,250,756

Repurchase agreements are used as a source of borrowed funds and are collateralized by U.S. Government agency mortgage-backed securities which are delivered to broker/dealers. Repurchase agreements with counterparties are limited to primary dealers in government securities and commercial/municipal customers through Webster’s Treasury Sales desk. Dealer counterparties have the right to pledge, transfer, or hypothecate purchased securities during the term of the transaction. The Company has right of offset with respect to all repurchase agreement assets and liabilities. Total securities sold under agreements to repurchase represents the gross amount for these transactions, as only liabilities are outstanding for the periods presented.

The following table provides information for Federal Home Loan Bank advances maturing:



	At December 31,
	2015				2014
(Dollars in thousands)	Total Outstanding		Weighted- Average Contractual Coupon Rate		Total Outstanding		Weighted- Average Contractual Coupon Rate
Within 1 year	$	2,025,934	0.55	%	$	2,275,000	0.23	%
After 1 but within 2 years	500		5.66		145,934		1.80
After 2 but within 3 years	200,000		1.36		500		5.66
After 3 but within 4 years	103,026		1.54		200,000		1.36
After 4 but within 5 years	175,000		1.77		78,026		1.95
After 5 years	159,655		1.60		159,934		1.27
	2,664,115		0.79	%	2,859,394		0.50	%
Unamortized premiums	24				37
Federal Home Loan Bank advances	$	2,664,139			$	2,859,431

At December 31, 2015, Webster Bank had pledged loans and securities with an aggregate carrying value of $5.7 billion as collateral for borrowings, with a remaining borrowing capacity from the FHLB of approximately $1.2 billion. At December 31, 2014, Webster Bank had pledged loans and securities with an aggregate carrying value of $5.2 billion as collateral for borrowings, with a remaining borrowing capacity from the FHLB of approximately $0.7 billion. In addition, at December 31, 2015 and 2014 Webster Bank had an unused line of credit of approximately $5.0 million. At December 31, 2015 and 2014, Webster Bank was in compliance with FHLB collateral requirements.

The following table summarizes long-term debt:



		At December 31,
(Dollars in thousands)		2015			2014
4.375%	Senior fixed-rate notes due February 15, 2024	$	150,000		$	150,000
Junior subordinated debt Webster Statutory Trust I floating-rate notes due September 17, 2033 ⁽¹⁾		77,320			77,320
Total notes and subordinated debt		227,320			227,320
Unamortized discount on senior fixed-rate notes		(964		)	(1,083		)
Long-term debt		$	226,356		$	226,237


(1)	The interest rate on Webster Statutory Trust I floating-rate notes, which varies quarterly based on 3-month LIBOR plus 2.95%, was 3.48% at December 31, 2015 and 3.19% at December 31, 2014.