Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2015

The table excludes repurchase agreements collateralized by securities purchased under resale agreements and collateralized by trading account assets.



	U.S. Government Securities Sold				Repurchase Agreements
(In millions)	Amortized Cost		Fair Value		Amortized Cost
Overnight maturity	$	4,348	$	4,284	$	4,195

The following tables present information with respect to the amounts outstanding and weighted-average interest rates of the primary components of our short-term borrowings as of and for the years ended December 31:



	Securities Sold Under Repurchase Agreements									Federal Funds Purchased
(Dollars in millions)	2015			2014			2013			2015			2014			2013
Balance as of December 31	$	4,499		$	8,925		$	7,953		$	6		$	21		$	19
Maximum outstanding as of any month-end	10,977			10,955			11,538			29			29			570
Average outstanding during the year	8,875			8,817			8,436			21			20			298
Weighted-average interest rate as of year-end	.020		%	.005		%	.003		%	.03		%	.01		%	.13		%
Weighted-average interest rate for the year	.01			.00			.01			.01			.00			.00

	Tax-Exempt Investment Program									Corporate Commercial Paper Program
(Dollars in millions)	2015			2014			2013			2015			2014			2013
Balance as of December 31	$	1,748		$	1,870		$	1,948		$	—		$	2,485		$	1,819
Maximum outstanding as of any month-end	1,865			1,938			2,135			2,919			2,485			2,535
Average outstanding during the year	1,807			1,903			2,030			1,897			2,136			1,632
Weighted-average interest rate as of year-end	.03		%	.06		%	.09		%	.00		%	.16		%	.14		%
Weighted-average interest rate for the year	.06			.08			.13			.26			.17			.18

The following table presents the components of securities sold under repurchase agreements by underlying collateral as of December 31, 2015:



(In millions)
Collateralized by securities purchased under resale agreements	$	202
Collateralized by investment securities	4,195
Collateralized by trading account assets	102
Total	$	4,499