Bank of America 2012 Annual Report Download - page 129

Bank of America 2012 127
Table II Analysis of Changes in Net Interest Income – FTE Basis
From 2011 to 2012 From 2010 to 2011
Due to Change in (1) Due to Change in (1)
(Dollars in millions) Volume Rate
Net
Change Volume Rate
Net
Change
Increase (decrease) in interest income
Time deposits placed and other short-term investments (2) $ (71) $ (58) $ (129) $ 7 $ 67 $ 74
Federal funds sold and securities borrowed or purchased under agreements to resell (70) (575) (645) (92) 407 315
Trading account assets (161) (675) (836) (868) (40) (908)
Debt securities 21 (825) (804) 489 (2,737) (2,248)
Loans and leases:
Residential mortgage (519) (1,107)(1,626)957 (1,597) (640)
Home equity (529) (94) (623) (615) (334) (949)
Discontinued real estate (118) — (118) 34 (60) (26)
U.S. credit card (1,085) (219) (1,304)(1,337) (499) (1,836)
Non-U.S. credit card (1,160) 76 (1,084)(487) (307) (794)
Direct/Indirect consumer (238) (578) (816) (317) (720) (1,037)
Other consumer (25) (11) (36) (11) 1 (10)
Total consumer
(5,607) (5,292)
U.S. commercial 332 (713) (381) (131) (418) (549)
Commercial real estate (219) 29 (190) (517) 39 (478)
Commercial lease financing 23 (150) (127) (3) (66) (69)
Non-U.S. commercial 438 (226) 212 584 (293) 291
Total commercial (486) (805)
Total loans and leases
(6,093) (6,097)
Other earning assets (231) (172) (403) (619) 206 (413)
Total interest income $ (8,910) $ (9,277)
Increase (decrease) in interest expense
U.S. interest-bearing deposits:
Savings $ 4 $ (59) $ (55) $ 17 $ (74) $ (57)
NOW and money market deposit accounts 12 (379) (367) 101 (446) (345)
Consumer CDs and IRAs (147) (205) (352) (381) (297) (678)
Negotiable CDs, public funds and other deposits 26 (18) 8 (5) (101) (106)
Total U.S. interest-bearing deposits (766) (1,186)
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries (40) (4) (44) 21 (27) (6)
Governments and official institutions (3) — (3) (4) 1 (3)
Time, savings and other (73) (126) (199) 39 161 200
Total non-U.S. interest-bearing deposits (246) 191
Total interest-bearing deposits
(1,012) (995)
Federal funds purchased, securities loaned or sold under agreements to repurchase and
other short-term borrowings (78) (949) (1,027)(910) 1,810 900
Trading account liabilities (162) (287) (449) (200) (159) (359)
Long-term debt (2,948)560 (2,388)(1,955) 55 (1,900)
Total interest expense
(4,876) (2,354)
Net decrease in interest income (2) $ (4,034) $ (6,923)
(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) For this presentation, fees earned on overnight deposits placed with the Federal Reserve are included in the cash and cash equivalents line, consistent with the Corporation’s Consolidated Balance
Sheet presentation of these deposits. In addition, for 2012, fees earned on deposits, primarily overnight, placed with certain non-U.S. central banks, which are included in the time deposits placed
and other short-term investments line in prior periods, have been included in the cash and cash equivalents line. Net interest income in the table is calculated excluding these fees.