BB&T 2014 Annual Report Download - page 135
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Table of Contents
The transfer of funds in the form of dividends, loans or advances from bank subsidiaries to the Parent Company is restricted. Federal law requires loans to the
Parent Company or its affiliates to be secured and generally limits loans to the Parent Company or an individual affiliate to 10% of Branch Bank’s
unimpaired capital and surplus. In the aggregate, loans to the Parent Company and all affiliates cannot exceed 20% of the bank’s unimpaired capital and
surplus.
Dividend payments to the Parent Company by Branch Bank are subject to regulatory review and statutory limitations and, in some instances, regulatory
approval. In general, dividends from Branch Bank to the Parent Company are limited by rules which compare dividends to net income for regulatory-defined
periods. Furthermore, dividends are restricted by regulatory minimum capital constraints.
Accounting standards define fair value as the exchange price that would be received on the measurement date to sell an asset or the price paid to transfer a
liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants, with a three level
valuation input hierarchy.
The following tables present fair value information for assets and liabilities measured on a recurring basis:
Assets:
Trading securities $ 482 $ 289 $ 193 $ ―
AFS securities:
U.S. Treasury 1,231 ― 1,231 ―
MBS issued by GSE 16,154 ― 16,154 ―
States and political subdivisions 1,974 ― 1,974 ―
Non-agency MBS 264 ― 264 ―
Other 41 6 35 ―
Acquired from FDIC 1,243 ― 498 745
LHFS 1,423 ― 1,423 ―
Residential MSRs 844 ― ― 844
Derivative assets:
Interest rate contracts 1,114 ― 1,094 20
Foreign exchange contracts 8 ― 8 ―
Private equity and similar investments 329 ― ― 329
Total assets $ 25,107 $ 295 $ 22,874 $ 1,938
Liabilities:
Derivative liabilities:
Interest rate contracts $ 1,007 $ ― $ 1,004 $ 3
Foreign exchange contracts 6 ― 6 ―
Short-term borrowings 148 ― 148 ―
Total liabilities $ 1,161 $ ― $ 1,158 $ 3
134
Source: BB&T CORP, 10-K, February 25, 2015 Powered by Morningstar® Document Research℠
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