BB&T 2009 Annual Report Download - page 150

Download and view the complete annual report

Please find page 150 of the 2009 BB&T annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 170

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170

BB&T CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following tables set forth certain information concerning BB&T’s derivative financial instruments and
related hedged items at December 31, 2009:
Derivative Classifications and Hedging Relationships
Hedged Item or
Transaction
December 31, 2009
Notional
Amount
Fair Value
Gain (1) Loss (1)
(Dollars in millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts:
Receive fixed swaps First forecasted interest receipts on
commercial loans $ 1,000 $ 28 $ —
Pay fixed swaps First forecasted interest payments on 3
month LIBOR funding 4,300 38 (26)
Caps First forecasted interest payments on 3
month LIBOR funding 200 — —
Total 5,500 66 (26)
Derivatives Designated as Net Investment Hedges:
Foreign exchange contracts 73 — (1)
Total 73 — (1)
Derivatives Designated as Fair Value Hedges:
Interest rate contracts:
Receive fixed swaps Individual fixed rate long-term debt
issuances 3,429 192 (43)
Receive fixed swaps Long-term CD's 328 2 —
Pay fixed swaps Individual fixed rate municipal
securities classified as available for
sale 354 — (50)
Total 4,111 194 (93)
Derivatives Not Designated as Hedges:
Client-related and other risk management
Interest rate contracts
Receive fixed swaps 10,004 392 (32)
Pay fixed swaps 10,401 32 (369)
Other swaps 7,014 3 (3)
Option trades 922 — —
Swaptions 538 24 (24)
Futures contracts 611 — —
Collars 123 4 (5)
Foreign exchange contracts 373 7 (6)
Mortgage Banking
Interest rate contracts
Interest rate lock commitments 2,970 5 (19)
Forward commitments 4,662 48 (5)
Swaptions 200 11 —
Option trades 340 1 (5)
TBA/When issued securities 30 — —
Futures contracts 50 — (1)
Mortgage Servicing Rights
Interest rate contracts
Receive fixed swaps 1,968 — (69)
Pay fixed swaps 654 4 —
Swaptions 5,575 191 (2)
Futures contracts 4,631 1 (3)
When issued securities and Forward rate
agreements 5,425 — (37)
Total 56,491 723 (580)
Total Derivatives $66,175 $983 $(700)
(1) Derivatives in a gain position are recorded as Other assets and derivatives in a loss position are recorded as Other liabilities
on the Consolidated Balance Sheet.
150