The securities underlying the repurchase agreements are book entry securities. During the borrowing period, book entry securities were delivered by appropriate entry into the counterparties’ accounts through the Federal Reserve System. The dealers may sell, loan or otherwise dispose of such securities to other parties in the normal course of their operations, but have agreed to resell to TCF identi- cal or substantially the same securities upon the maturities of the agreements. At December 31, 2002, all of the securities sold under repurchase agreements provided for the repurchase of identical secu- rities. At December 31, 2002, $547.7 million of securities sold under repurchase agreements with an interest rate of 1.37% maturing in 2003 were collateralized by mortgage-backed securities having a fair value of $559 million.  TCF Financial Corporation has a $105 million bank line of credit maturing in April 2003 which is unsecured and contains certain covenants common to such agreements. TCF is not in default with respect to any of its covenants under the credit agreement. The inter- est rate on the line of credit is based on either the prime rate or LIBOR. TCF has the option to select the interest rate index and term for advances on the line of credit. The line of credit may be used for appropriate corporate purposes, including serving as a back-up line of credit to support the redemption of TCF’s commercial paper. TCF Financial Corporation has a $50 million commercial paper program which is unsecured and contains certain covenants common to such programs with which TCF is in compliance. Any usage under the commercial paper program requires an equal amount of back-up support by the bank line of credit. Commercial paper generally matures within 90 days, although it may have a term of up to 270 days. Long-term borrowings consist of the following:  At December 31, 2002, $200 million of securities sold under repurchase agreements with an interest rate of 6.26% maturing in 2005 were collateralized by mortgage-backed securities having a fair value of $214.6 million. These borrowings are callable quarterly by the counterparty.  For certain equipment leases, TCF utilizes its lease rentals and underlying equipment as collateral to borrow from other financial insti- tutions at fixed rates on a non-recourse basis. In the event of a default by the customer in non-recourse financings, the other financial institution has a first lien on the underlying leased equipment with no further recourse against TCF. page 61 At December 31, (Dollars in thousands) 2002 2001 Weighted- Weighted- Year of Average Average Maturity Amount Rate Amount Rate Securities sold under repurchase agreements . . . . . . . . . . 2005 $ 200,000 6.26% $ 200,000 6.26% Federal Home Loan Bank advances . . . . . . . . . . . . . . . . . 2003 135,000 5.76 135,000 5.76 2004 853,000 5.72 853,000 5.72 2005 246,000 6.02 246,000 6.02 2006 303,000 4.30 303,000 5.26 2009 122,500 5.25 122,500 5.25 2010 100,000 6.02 100,000 6.02 2011 200,000 4.85 200,000 4.85 1,959,500 5.44 1,959,500 5.58 Discounted lease rentals . . . . . . . . . . . . . . . . . . . . . . . . . 2002 – – 75,600 8.01 2003 62,461 7.30 46,458 8.00 2004 36,101 7.08 18,462 8.33 2005 9,459 6.88 2,684 8.50 2006 723 6.94 450 7.68 2007 – – 12 8.53 108,744 7.19 143,666 8.06 $2,268,244 5.59 $2,303,166 5.79 13. Long-term Borrowings