Bank of America 2010 Annual Report Download - page 231

Level 3 – Fair Value Measurements
(Dollars in millions)
Balance
January 1
2009
(1)
Merrill
Lynch
Acquisition
Gains
(Losses)
Included in
Earnings
Gains
(Losses)
Included in
OCI
Purchases,
Issuances and
Settlements
Transfers
into/(out of)
Level 3
(1)
Balance
December 31
2009
(1)
2009
Trading account assets:
Corporate securities, trading loans and other $ 4,540 $ 7,012 $ 370 $ – $(2,015) $ 1,173 $11,080
Equity securities 546 3,848 (396) – (2,425) (489) 1,084
Non-U.S. sovereign debt – 30 136 – 167 810 1,143
Mortgage trading loans and asset-backed securities 1,647 7,294 (262) – 933 (1,842) 7,770
Total trading account assets 6,733 18,184 (152) – (3,340) (348) 21,077
Net derivative assets
(2)
2,270 2,307 5,526 – (7,906) 5,666 7,863
Available-for-sale debt securities:
Non-agency MBS:
Residential 5,439 2,509 (1,159) 2,738 (4,187) 1,876 7,216
Commercial 657 – (185) (7) (155) (52) 258
Non-U.S. securities 1,247 – (79) (226) (73) (401) 468
Corporate/Agency bonds 1,598 – (22) 127 324 (1,100) 927
Other taxable securities 9,599 – (75) 669 815 (1,154) 9,854
Tax-exempt securities 162 – 2 26 788 645 1,623
Total available-for-sale debt securities 18,702 2,509 (1,518) 3,327 (2,488) (186) 20,346
Loans and leases
(3)
5,413 2,452 515 – (3,718) 274 4,936
Mortgage servicing rights 12,733 209 5,286 – 1,237 – 19,465
Loans held-for-sale
(3)
3,382 3,872 678 – (1,048) 58 6,942
Other assets
(4)
4,157 2,696 1,273 – (308) 3 7,821
Trading account liabilities:
Non-U.S. sovereign debt – – (38) – – (348) (386)
Corporate securities and other – – – – 4 (14) (10)
Total trading account liabilities – – (38) – 4 (362) (396)
Commercial paper and other short-term borrowings
(3)
(816) – (11) – 120 – (707)
Accrued expenses and other liabilities
(3)
(1,124) (1,337) 1,396 – 174 – (891)
Long-term debt
(3)
– (7,481) (2,310) – 830 4,301 (4,660)
(1)
Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3.
(2)
Net derivatives at December 31, 2009 include derivative assets of $23.0 billion and derivative liabilities of $15.2 billion.
(3)
Amounts represent items which are accounted for under the fair value option.
(4)
Other assets is primarily comprised of AFS marketable equity securities.
Level 3 – Fair Value Measurements
(Dollars in millions)
Balance
January 1
2008
(1)
Countrywide
Acquisition
Gains
(Losses)
Included in
Earnings
Gains
(Losses)
Included in
OCI
Purchases,
Issuances and
Settlements
Transfers
into/(out of)
Level 3
(1)
Balance
December 31
2008
(1)
2008
Trading account assets $ 4,027 $ – $(3,222) $ – $(1,233) $ 7,161 $ 6,733
Net derivative assets
(2)
(1,203) (185) 2,531 – 1,380 (253) 2,270
Available-for-sale debt securities 5,507 528 (2,509) (1,688) 2,754 14,110 18,702
Loans and leases
(3)
4,590 – (780) – 1,603 – 5,413
Mortgage servicing rights 3,053 17,188 (7,115) – (393) – 12,733
Loans held-for-sale
(3)
1,334 1,425 (1,047) – (542) 2,212 3,382
Other assets
(4)
3,987 1,407 175 – (1,372) (40) 4,157
Accrued expenses and other liabilities
(3)
(660) (1,212) (169) – 101 – (1,940)
(1)
Assets (liabilities). For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3.
(2)
Net derivatives at December 31, 2008 include derivative assets of $8.3 billion and derivative liabilities of $6.0 billion.
(3)
Amounts represent items which are accounted for under the fair value option.
(4)
Other assets is primarily comprised of AFS marketable equity securities.
Bank of America 2010 229