Bank of America 2010 Annual Report Download - page 122

Table II Analysis of Changes in Net Interest Income – FTE Basis
(Dollars in millions) Volume Rate Change Volume Rate Change
Due to Change in
(1)
Net Due to Change in
(1)
Net
From 2009 to 2010 From 2008 to 2009
Increase (decrease) in interest income
Time deposits placed and other short-term investments
(2)
$ 1 $ (43) $ (42) $ 575 $ (608) $ (33)
Federal funds sold and securities borrowed or purchased under agreements to resell
266 (1,328) (1,062) 2,793 (3,212) (419)
Trading account assets
(135) (1,051) (1,186) 1,507 (2,530) (1,023)
Debt securities
2,585 (3,959) (1,374) 1,091 (1,250) (159)
Loans and leases:
Residential mortgage
(192) (1,607) (1,799) (619) (503) (1,122)
Home equity
(391) (355) (746) 1,107 (1,977) (870)
Discontinued real estate
(219) (336) (555) 507 (283) 224
U.S. credit card
7,097 (119) 6,978 (1,181) 4 (1,177)
Non-U.S. credit card
903 425 1,328 387 (307) 80
Direct/Indirect consumer
(198) (1,065) (1,263) 1,465 (2,383) (918)
Other consumer
(27) (24) (51) (43) (41) (84)
Total consumer
3,892 (3,867)
U.S. commercial
(1,106) 132 (974) 182 (3,001) (2,819)
Commercial real estate
(436) 64 (372) 493 (1,178) (685)
Commercial lease financing
(24) 104 80 (12) 203 191
Non-U.S. commercial
(121) (194) (315) 20 (117) (97)
Total commercial
(1,581) (3,410)
Total loans and leases
2,311 (7,277)
Other earning assets
(511) (675) (1,186) 2,966 (2,022) 944
Total interest income
$(2,539) $(7,967)
Increase (decrease) in interest expense
U.S. interest-bearing deposits:
Savings
$ 20 $ (78) $ (58) $ 9 $ (24) $ (15)
NOW and money market deposit accounts
342 (494) (152) 1,277 (3,501) (2,224)
Consumer CDs and IRAs
(1,745) (1,586) (3,331) 511 (2,861) (2,350)
Negotiable CDs, public funds and other time deposits
(252) 5 (247) 183 (786) (603)
Total U.S. interest-bearing deposits
(3,788) (5,192)
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries
(4) 3 (1) (527) (384) (911)
Governments and official institutions
(7) 1 (6) (120) (143) (263)
Time, savings and other
(11) (4) (15) 88 (1,165) (1,077)
Total non-U.S. interest-bearing deposits
(22) (2,251)
Total interest-bearing deposits
(3,810) (7,443)
Federal funds purchased, securities loaned or sold under agreements to repurchase and
other short-term borrowings
(649) (1,164) (1,813) 880 (7,730) (6,850)
Trading account liabilities
556 (60) 496 (30) (669) (699)
Long-term debt
1,509 (3,215) (1,706) 9,267 (3,792) 5,475
Total interest expense
(6,833) (9,517)
Net increase in interest income
(2)
$4,294 $1,550
(1)
The changes for each category of interest income and expense are divided between the portion of change attributable to the variance in volume and the portion of change attributable to the variance in rate for that category. The
unallocated change in rate or volume variance is allocated between the rate and volume variances.
(2)
Fees earned on overnight deposits placed with the Federal Reserve, which were included in the time deposits placed and other short-term investments line in prior periods, have been reclassified to cash and cash equivalents,
consistent with the balance sheet presentation of these deposits. Net interest income is calculated excluding these fees.
120 Bank of America 2010