December 31 2002 2001 Percentage Percentage Geographic Region: Loans of Total Loans of Total South $ 20,394,077 34.13% $ 15,404,688 34.03% West 12,507,242 20.93 9,354,934 20.67 Midwest 11,396,942 19.08 8,855,719 19.56 Northeast 10,117,735 16.94 7,678,378 16.97 International 5,330,541 8.92 3,970,244 8.77 59,746,537 100.00% 45,263,963 100.00% Less securitized balances (31,892,885) (24,342,949) Total $ 27,853,652 $ 20,921,014 Accounts receivable from securitizations Derivatives FINANCIAL LIABILITIES Interest-bearing deposits FINANCIALASSETS Cash and cash equivalents Other borrowings  Securities available for sale Senior notes Interest payable Consumer loans Interest receivable Not U Disclosures About Fair Value  of Financial Instruments The carrying amount approximated fair value. The following discloses the fair value of financial instruments whether or not recognized in the balance sheets as of December 31, 2002 and 2001. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. As required under GAAP, these disclosures exclude certain financial instruments and all non-financial instruments. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The Company, in estimating the fair value of its financial instruments as of December 31, 2002 and 2001, used the following methods and assumptions: The carrying amounts of cash and due from banks, federal funds sold and resale agreements and interest-bearing deposits at other banks approximated fair value. The fair value of securities available for sale was determined using current market prices. See Note C for fair values by type of security. The net carrying amount of consumer loans approximated fair value due to the relatively short average life and variable interest rates on a substantial number of these loans. This amount excluded any value related to account relationships. The carrying amount approximated the fair value of this asset due to its relatively short-term nature.  The carrying amount of derivatives approximated fair value and was represented by the estimated unrealized gains as determined by quoted market prices. This value generally reflects the estimated amounts that the Corporation would have received to terminate the interest rate swaps, currency swaps and forward foreign currency exchange (“f/x”) contracts at  the respective dates, taking into account the forward yield curve on the swaps and the forward rates on the currency swaps and f/x contracts. These derivatives are included in other assets on the balance sheet. The fair value of interest-bearing deposits was calculated by discounting the future cash flows using estimates of market rates for corresponding contractual terms.  The carrying amount of federal funds purchased and resale agreements and other short-term borrowings approximated fair value. The fair value of secured borrowings was calculated by discounting the future cash flows using estimates of market rates for corresponding contractual terms and assumed maturities when no stated final maturity was available. The fair value of the junior subordinated capital income securities was determined based on quoted market prices. The fair value of senior notes was determined based on quoted market prices. The carrying amount approximated the fair value of this asset due to its relatively short-term nature. 73