Bank of America 2008 Annual Report Download - page 107
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Table VII Allocation of the Allowance for Credit Losses by Product Type (1)
December 31
2008 2007 2006 2005 2004
(Dollars in millions) Amount
Percent
of Total Amount
Percent
of Total Amount
Percent
of Total Amount
Percent
of Total Amount
Percent
of Total
Allowance for loan and lease losses
Residential mortgage
$ 1,382
5.99% $ 207 1.79% $ 248 2.75% $ 277 3.44% $ 240 2.78%
Home equity
5,385
23.34 963 8.31 133 1.48 136 1.69 115 1.33
Discontinued real estate
658
2.85 n/a n/a n/a n/a n/a n/a n/a n/a
Credit card – domestic
3,947
17.11 2,919 25.19 3,176 35.23 3,301 41.03 3,148 36.49
Credit card – foreign
742
3.22 441 3.81 336 3.73 – – – –
Direct/Indirect consumer
4,341
18.81 2,077 17.92 1,378 15.28 421 5.23 375 4.35
Other consumer
203
0.88 151 1.30 289 3.20 380 4.73 500 5.80
Total consumer
16,658
72.20 6,758 58.32 5,560 61.67 4,515 56.12 4,378 50.75
Commercial – domestic
(2)
4,339
18.81 3,194 27.56 2,162 23.98 2,100 26.10 2,101 24.36
Commercial real estate
1,465
6.35 1,083 9.35 588 6.52 609 7.57 644 7.47
Commercial lease financing
223
0.97 218 1.88 217 2.41 232 2.89 442 5.12
Commercial – foreign
386
1.67 335 2.89 489 5.42 589 7.32 1,061 12.30
Total commercial
(3)
6,413
27.80 4,830 41.68 3,456 38.33 3,530 43.88 4,248 49.25
Allowance for loan and lease losses
23,071 100.00%
11,588 100.00% 9,016 100.00% 8,045 100.00% 8,626 100.00%
Reserve for unfunded lending commitments
421
518 397 395 402
Allowance for credit losses
$23,492
$12,106 $9,413 $8,440 $9,028
(1) We account for acquired impaired loans in accordance with SOP 03-3. For more information on the impact of SOP 03-3 on asset quality, see Consumer Portfolio Credit Risk Management beginning on page 62.
(2) Includes allowance for small business commercial – domestic loans of $2.4 billion, $1.4 billion and $578 million at December 31, 2008, 2007 and 2006, respectively. The allowance for small business commercial –
domestic loans was not material in 2005 and 2004.
(3) Includes allowance for loan and lease losses for impaired commercial loans of $691 million, $123 million, $43 million, $55 million and $202 million at December 31, 2008, 2007, 2006, 2005 and 2004, respectively.
n/a = not applicable
Bank of America 2008
105