Bank of America 2013 Annual Report Download - page 126

124 Bank of America 2013
Table II Analysis of Changes in Net Interest Income – FTE Basis
From 2012 to 2013 From 2011 to 2012
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) $ (72) $ 22 $ (50) $ (71) $ (58) $ (129)
Federal funds sold and securities borrowed or purchased under agreements to resell (66) (207) (273) (70) (575) (645)
Trading account assets (50) (377) (427) (391) (445) (836)
Debt securities (381) 1,229 848 294 (969) (675)
Loans and leases:
Residential mortgage (276) (250) (526) (652) (1,091) (1,743)
Home equity (646) 51 (595) (521) (103) (624)
U.S. credit card (449) (263) (712) (1,085) (219) (1,304)
Non-U.S. credit card (312) 11 (301) (1,160) 76 (1,084)
Direct/Indirect consumer (48) (482) (530) (238) (578) (816)
Other consumer (33) (35) (68) (25) (11) (36)
Total consumer
(2,732) (5,607)
U.S. commercial 616 (784) (168) 332 (713) (381)
Commercial real estate 154 (94) 60 (219) 29 (190)
Commercial lease financing 81 (104) (23) 23 (150) (127)
Non-U.S. commercial 785 (297) 488 438 (226) 212
Total commercial
357 (486)
Total loans and leases
(2,375) (6,093)
Other earning assets (249) 111 (138) (376) (156) (532)
Total interest income $
(2,415) $ (8,910)
Increase (decrease) in interest expense
U.S. interest-bearing deposits:
Savings $3$(26)$(23) $ 4 $ (59) $ (55)
NOW and money market deposit accounts 66 (346) (280) 12 (379) (367)
Consumer CDs and IRAs (87) (125) (212) (147) (205) (352)
Negotiable CDs, public funds and other deposits 15 (37) (22) 26 (18) 8
Total U.S. interest-bearing deposits (537) (766)
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries (15) (9) (24) (41) (3) (44)
Governments and official institutions —(2)(2)
(3)— (3)
Time, savings and other 21 (52) (31) (73) (126) (199)
Total non-U.S. interest-bearing deposits (57) (246)
Total interest-bearing deposits (594) (1,012)
Federal funds purchased, securities loaned or sold under agreements to repurchase and
short-term borrowings (196) (453) (649) (78) (949) (1,027)
Trading account liabilities 215 (340) (125) (162) (287) (449)
Long-term debt (1,569)(1,052)(2,621)(2,948) 560 (2,388)
Total interest expense
(3,989) (4,876)
Net increase (decrease) in net interest income (2) $ 1,574 $ (4,034)
(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 Consolidated Balance Sheet
presentation of these deposits. In addition, beginning in the third quarter of 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, are included in the cash and cash equivalents line. Net interest income in the table is calculated excluding the fees
included in the cash and cash equivalents line.