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Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
The following table presents information about these U.S. government securities and the carrying value of the related repurchase agreements, including accrued interest, as of December 31, 2017. 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(1)
(In millions)
Amortized
Cost
 
Fair Value
 
Amortized
Cost
Overnight maturity
$
2,928

 
$
2,899

 
$
2,842


 
 
(1) Collateralized by investment securities.
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
 
Tax-Exempt
Investment Program
(Dollars in millions)
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Balance as of December 31
$
2,842

 
$
4,400

 
$
4,499

 
$
—

 
$
—

 
$
6

 
$
1,078

 
$
1,158

 
$
1,748

Maximum outstanding as of any month-end
4,302

 
5,572

 
10,977

 
—

 
29

 
29

 
1,158

 
1,726

 
1,865

Average outstanding during the year
3,683

 
4,113

 
8,875

 
1

 
31

 
21

 
1,127

 
1,512

 
1,807

Weighted-average interest rate as of year-end
.03
%
 
.04
%
 
.02
%
 
.00
%
 
.00
%
 
.03
%
 
1.45
%
 
.67
%
 
.03
%
Weighted-average interest rate during the year
.05

 
.02

 
.01

 
.00

 
.17

 
.01

 
.79

 
.36

 
.06