Average investment securities in the first quarter of 2012 were $15.1 billion (26.7 percent) higher year-over-year and $2.7 billion (3.9 percent) higher than the prior quarter. The increases over the prior year and linked quarter were primarily due to purchases of U.S. Treasury and government agency-backed securities.
|AVERAGE DEPOSITS||Table 5|
|($ in millions)||Percent||Percent|
|1Q||4Q||1Q||1Q12 vs||1Q12 vs|
|Interest-bearing savings deposits|
|Money market savings||45,927||45,200||45,649||1.6||.6|
|Total of savings deposits||122,231||117,180||113,624||4.3||7.6|
|Time certificates of deposit less|
|Time deposits greater than $100,000||27,514||27,430||31,228||.3||(11.9||)|
|Total interest-bearing deposits||164,701||159,678||160,116||3.1||2.9|
Average total deposits for the first quarter of 2012 were $24.0 billion (11.7 percent) higher than the first quarter of 2011. Average noninterest-bearing deposits increased $19.4 billion (43.9 percent) year-over-year, with growth in the average balances in a majority of the lines of business including Wholesale Banking, Wealth Management and Securities Services and Consumer and Small Business Banking. Average total savings deposits were $8.6 billion (7.6 percent) higher year-over-year, the result of growth in corporate and institutional trust balances, as well as an increase in Consumer and Small Business Banking average balances, partially offset by lower broker-dealer and government banking average balances. Average time certificates of deposit less than $100,000 were slightly lower, while time deposits greater than $100,000 were $3.7 billion (11.9 percent) lower than the first quarter of 2011, principally in corporate and institutional trust averages balances.
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