BB&T 2007 Annual Report Download - page 120

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BB&T CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 19. Derivative Financial Instruments
The following tables set forth certain information concerning BB&T’s derivative financial instruments at
December 31, 2007 and 2006:
Derivative Financial Instruments
December 31, 2007 December 31, 2006
Notional
Amount
Estimated
Fair
Value Notional
Amount
Estimated
Fair
Value
(Dollars in millions)
Receive fixed swaps $12,564 $ 266 $ 6,594 $ (57)
Pay fixed swaps 6,393 (154) 3,899 4
Forward starting receive fixed swaps 2,326 70 1,285 5
Forward starting pay fixed swaps 1,099 (17) 544 —
Other swaps 5,457 (10) 264 (5)
Caps, floors, collars and other option trades 3,650 16 2,069 8
Foreign exchange contracts 227 — 258 —
Futures contracts 8,690 (3) 2,364 1
Treasury forwards 10 — — —
Interest rate lock commitments 1,203 2 546 (1)
Forward commitments 2,028 (10) 1,217 2
Swaptions 1,741 21 1,188 3
When-issued securities and forward rate agreements 1,703 — 2,613 (5)
Options on contracts purchased and sold 106 — 256 —
Total $47,197 $ 181 $23,097 $ (45)
The following tables disclose data with respect to BB&T’s derivative financial instrument classifications and
hedging relationships:
Derivative Classifications and Hedging Relationships
December 31, 2007 December 31, 2006
Notional
Amount
Fair Value Notional
Amount
Fair Value
Gain Loss Gain Loss
(Dollars in millions)
Derivatives Designated as Cash Flow Hedges:
Hedging business loans $ 2,119 $ 20 $ — $ 2,119$8$(22)
Hedging institutional certificates of deposits and other time
deposits — — — 750 — —
Hedging short term funding 1,750 — (14) — — —
Hedging medium term bank notes and FHLB advances 2,934 — (8) 1,925 20 —
Derivatives Designated as Fair Value Hedges:
Hedging long-term debt 8,300 148 (6) 3,900 50 (97)
Hedging municipal securities 446 — (33) — — —
Derivatives Not Designated as Hedges 31,648 241 (167) 14,403 57 (61)
Total $47,197 $409 $(228) $23,097 $135 $(180)
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