Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2012

Short-term Debt [Abstract]

Schedule of short-term borrowings

Short-term borrowings consisted of the following:

	December 31
	2012				Rate		2011				Rate
	(dollars are in millions)
Federal funds purchased (day to day)	$	3					$	90
Securities sold under repurchase agreements(1)(2)	6,817				0.15	%	7,417				0.22	%
Average during year			$	6,046	0.19				$	11,579	0.28
Maximum month-end balance			11,040						15,088
Commercial paper	5,022				0.27		4,836				0.20
Average during year			4,587		0.26				3,931		0.19
Maximum month-end balance			5,022						6,134
Precious metals	2,326						1,639
Other	765						2,027
Total short-term borrowings	$	14,933					$	16,009

⁽¹⁾  Exceeded 30 percent of shareholders’ equity at December 31, 2012 and 2011.

⁽²⁾  The following table presents the quarter end and average quarterly balances of securities sold under repurchase agreements:

	2012								2011
	Fourth		Third		Second		First		Fourth		Third		Second		First
	(in millions)
Quarter end balance	$	6,817	$	3,238	$	3,843	$	4,813	$	7,417	$	12,913	$	8,463	$	8,807
Average quarterly balance	5,481		5,155		5,394		8,168		11,560		10,913		9,927		13,949

Schedule of quarterly short-term borrowings

The following table presents the quarter end and average quarterly balances of securities sold under repurchase agreements:

	2012								2011
	Fourth		Third		Second		First		Fourth		Third		Second		First
	(in millions)
Quarter end balance	$	6,817	$	3,238	$	3,843	$	4,813	$	7,417	$	12,913	$	8,463	$	8,807
Average quarterly balance	5,481		5,155		5,394		8,168		11,560		10,913		9,927		13,949