Bank of America 2010 Annual Report Download - page 181

The table below summarizes select information related to first-lien mortgage securitization trusts in which the Corporation held a variable interest at
December 31, 2010 and 2009.
(Dollars in millions) 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009
December 31 December 31 December 31
Agency Prime Subprime Alt-A Commercial Mortgage
Non-Agency
Residential Mortgage
Unconsolidated VIEs
Maximum loss exposure
(1)
$44,988 $14,398 $2,794 $4,068 $416 $224 $651 $996 $1,199 $1,877
On-balance sheet assets
Senior securities held
(2)
:
Trading account assets
$9,526 $2,295 $147 $201 $126 $12 $645 $431 $146 $469
AFS debt securities
35,400 12,103 2,593 3,845 234 188 – 561 984 1,215
Subordinate securities held
(2)
:
Trading account assets
– – – – 12 – – – 8 122
AFS debt securities
– – 39 13 35 22 6 423
Residual interests held
62 – 6 9 9 2 – – 61 48
All other assets
– – 9 – – – – – – –
Total retained positions $44,988 $14,398 $2,794 $4,068 $416 $224 $651 $996 $1,199 $1,877
Principal balance outstanding
(3)
$1,297,159 $1,255,650 $75,762 $81,012 $92,710 $83,065 $116,233 $147,072 $73,597 $65,397
Consolidated VIEs
Maximum loss exposure
(1)
$32,746 $1,683 $46 $472 $42 $1,261 $– $– $– $–
On-balance sheet assets
Loans and leases
$32,563 $1,689 $– $– $– $450 $– $– $– $–
Allowance for loan and lease losses
(37) (6) – – – – – – – –
Loans held-for-sale
– – – 436 732 2,030 – – – –
All other assets
220 – 46 86 16 271 – – – –
Total assets $32,746 $1,683 $46 $522 $748 $2,751 $– $– $– $–
On-balance sheet liabilities
Long-term debt
$– $– $– $48 $– $1,737 $– $– $– $–
All other liabilities
3 – 9 3 768 3 – – – –
Total liabilities $3 $– $9 $51 $768 $1,740 $– $– $– $–
(1)
Maximum loss exposure excludes the liability for representations and warranties obligations and corporate guarantees and also excludes servicing advances. For more information, see Note 9 – Representations and Warranties
Obligations and Corporate Guarantees.
(2)
As a holder of these securities, the Corporation receives scheduled principal and interest payments. During 2010 and 2009, there were no OTTI losses recorded on those securities classified as AFS debt securities.
(3)
Principal balance outstanding includes loans the Corporation transferred with which the Corporation has continuing involvement, which may include servicing the loans.
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