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Short-term Debt
6 Months Ended
Jun. 30, 2011
Short-term Debt

Note 11. Short-term Debt

At June 30, 2011, we had short-term debt outstanding of $41 million. This debt matured and was repaid in July 2011. For the six months ended June 30, 2011, the average balance of short-term debt outstanding was $25 million, with a weighted average interest rate of 1.52%. At June 30, 2011, Redwood had a master repurchase agreement with one counterparty, and we were in compliance with the covenants under this agreement. At December 31, 2010, we had short-term debt outstanding of $44 million, which was repaid in March 2011.