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2004 Annual Report: Financial Review: Statistical Financial Information: Table I Average Balances and Interest Rates - Fully Taxable-equivalent Basis

Table I

Average Balances and Interest Rates - Fully Taxable-equivalent Basis



  2004 Interest Average Balance 2004 Interest Income/Expense 2004 Interest Yield/Rate 2003 Interest Average Balance 2003 Interest Income/Expense 2003 Interest Yield/Rate 2002 Interest Average Balance 2002 Interest Income/Expense 2002 Interest Yield/Rate
 
    2004
       
     2003
       
                    2002
(Dollars in millions)
Average
Balance
Interest Income/
Expense
Yield/
Rate
  
Average
Balance
Interest Income/
Expense
Yield/
Rate
  
Average
Balance
Interest Income/
Expense
Yield/
Rate
Earning assets
Time deposits placed and other short-term investments $   14,254    $   362 2.54%percent $  9,056 $   172 1.90%percent $ 10,038 $   243 2.42%percent
Federal funds sold and securities purchased under
  agreements to resell		 128,981 2,043 1.58 percent 78,857 1,373 1.74percent  45,640 870 1.91 percent
Trading account assets 104,616 4,092 3.91percent  97,222 4,005 4.12percent  79,562 3,806 4.78percent 
Securities 150,171 7,326 4.88percent  70,666 3,131 4.43percent  73,715 4,006 5.43percent 
Loans and leases (1):
     Residential mortgage 167,298 9,074 5.42percent  127,059 6,872 5.41percent  97,204 6,423 6.61percent 
     Credit card 43,435 4,653 10.71percent  28,210 2,886 10.23percent  21,410 2,195 10.25percent 
     Home equity lines 39,400 1,835 4.66percent  22,890 1,040 4.55percent  22,807 1,213 5.32percent 
     Direct/Indirect consumer 38,078 2,093 5.50percent  32,593 1,964 6.03percent  30,264 2,145 7.09percent 
     Other consumer (2) 7,717 594 7.70percent  8,865 588 6.63percent  12,554 930 7.41percent 
          Total consumer 295,928 18,249 6.17percent  219,617 13,350 6.08percent  184,239 12,906 7.01percent 
     Commercial - domestic 114,644 7,126 6.22percent  93,458 6,729 7.20percent  102,835 7,011 6.82percent 
     Commercial real estate 28,085 1,263 4.50percent  20,042 862 4.30percent  21,569 1,060 4.91percent 
     Commercial lease financing 17,483 819 4.68percent  10,061 395 3.92percent  11,227 505 4.49percent 
     Commercial - foreign 16,505 849 5.15percent  12,970 460 3.54percent  16,949 678 4.00percent 
          Total commercial 176,717 10,057 5.69percent  136,531 8,446 6.19percent  152,580 9,254 6.06percent 
               Total loans and leases 472,645 28,306 5.99percent  356,148 21,796 6.12percent  336,819 22,160 6.58percent 
Other earning assets 34,635 1,814 5.24percent  37,599 1,729 4.60 percent 24,756 1,557 6.29percent 
          Total earning assets (3) 905,302 43,943 4.85percent    649,548 32,206 4.96percent    570,530 32,642 5.72percent 
Cash and cash equivalents 28,511     22,637     21,166    
Other assets, less allowance for loan and lease losses 110,847       76,871       62,078    
                    Total assets $1,044,660       $749,056       $653,774    
Interest-bearing liabilities
Domestic interest-bearing deposits:
     Savings $   33,959 $   119 0.35%percent $ 24,538 $   108 0.44%percent $ 21,691 $   138 0.64%percent
     NOW and money market deposit accounts 214,542 1,921 0.90percent  148,896 1,236 0.83percent  131,841 1,369 1.04 percent
     Consumer CDs and IRAs 94,770 2,533 2.67percent  70,246 2,784 3.96percent  67,695 2,968 4.39percent 
     Negotiable CDs, public funds and other time deposits 5,977 290 4.85percent  7,627 130 1.70percent  4,237 128 3.03percent 
          Total domestic interest-bearing deposits 349,248 4,863 1.39percent  251,307 4,258 1.69percent  225,464 4,603 2.04percent 
Foreign interest-bearing deposits (4):
     Banks located in foreign countries 18,426 1,040 5.64percent  13,959 403 2.89percent  15,464 442 2.86percent 
     Governments and official institutions 5,327 97 1.82percent  2,218 31 1.40percent  2,316 43 1.86percent 
     Time, savings and other 27,739 275 0.99percent  19,027 216 1.14percent  18,769 346 1.84percent 
          Total foreign interest-bearing deposits 51,492 1,412 2.74percent  35,204 650 1.85percent  36,549 831 2.27percent 
               Total interest-bearing deposits 400,740 6,275 1.57percent  286,511 4,908 1.71percent  262,013 5,434 2.07percent 
Federal funds purchased, securities sold under
  agreements to repurchase and other short-term
  borrowings		 227,558 4,434 1.95percent  140,458 1,871 1.33percent  98,477 1,982 2.01percent 
Trading account liabilities 35,326 1,317 3.73percent  37,176 1,286 3.46percent  31,600 1,260 3.99percent 
Long-term debt 93,330 2,404 2.58percent  68,432 2,034 2.97percent  66,045 2,455 3.72percent 
               Total interest-bearing liabilities (3) 756,95 14,430 1.91percent    532,577 10,099 1.90 percent   458,135 11,131 2.43percent 
Noninterest-bearing sources:
     Noninterest-bearing deposits 150,819     119,722     109,466    
     Other liabilities 52,704     47,553     38,560    
     Shareholders' equity 84,183       49,204       47,613    
                    Total liabilities and shareholders' equity $1,044,660       $749,056       $653,774    
Net interest spread     2.94percent      3.06 percent     3.29percent 
Impact of noninterest-bearing sources     0.32percent        0.34        0.48percent 
                    Net interest income/yield on earning assets   $29,513 3.26%percent         $22,107 3.40%percent         $21,511 3.77%percent

(1)
Nonperforming loans are included in the respective average loan balances. Income on such nonperforming loans is recognized on a cash basis.
(2)
Includes consumer finance of $3,735, $4,137 and $5,031 in the 2004, 2003 and 2002, respectively; foreign consumer of $3,020, $1,977 and $2,021 in 2004, 2003 and 2002, respectively; and consumer lease financing of $962, $2,751 and $5,502 in 2004, 2003 and 2002, respectively.
(3)
Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $2,400, $2,972 and $1,983 in 2004, 2003 and 2002, respectively. These amounts were substantially offset by corresponding decreases in the income earned on the underlying assets. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $888, $305 and $141 in 2004, 2003 and 2002, respectively. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities. For further information on interest rate contracts, see "Interest Rate Risk Management".
(4)
Primarily consists of time deposits in denominations of $100,000 or more.

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