Bank of America 2013 Annual Report Download - page 179

Bank of America 2013 177
The table below presents the fair value and the associated gross unrealized losses on AFS debt securities and whether these
securities have had gross unrealized losses for less than 12 months or for 12 months or longer at December 31, 2013 and 2012.
Temporarily Impaired and Other-than-temporarily Impaired AFS Debt Securities
December 31, 2013
Less than Twelve Months Twelve Months or Longer Total
(Dollars in millions)
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Temporarily impaired available-for-sale debt securities
U.S. Treasury and agency securities $ 5,770 $ (61) $ 19 $ (1) $ 5,789 $ (62)
Mortgage-backed securities:
Agency 132,032 (5,457) 9,324 (497) 141,356 (5,954)
Agency-collateralized mortgage obligations 13,438 (210) 2,661 (105)16,099 (315)
Non-agency residential 819 (15) 1,237 (106) 2,056 (121)
Commercial 286 (12) — — 286 (12)
Non-U.S. securities ——45(24)
45 (24)
Corporate/Agency bonds 106 (3) 282 (4)388 (7)
Other taxable securities, substantially all asset-backed securities 116 (2) 280 (3)396 (5)
Total taxable securities 152,567 (5,760) 13,848 (740) 166,415 (6,500)
Tax-exempt securities 1,789 (30) 990 (19) 2,779 (49)
Total temporarily impaired available-for-sale debt securities 154,356 (5,790) 14,838 (759) 169,194 (6,549)
Other-than-temporarily impaired available-for-sale debt securities (1)
Non-agency residential mortgage-backed securities 2(1)1(1)3(2)
Total temporarily impaired and other-than-temporarily impaired available-for-
sale securities (2) $ 154,358 $ (5,791) $ 14,839 $ (760) $ 169,197 $ (6,551)
December 31, 2012
Temporarily impaired available-for-sale debt securities
U.S. Treasury and agency securities $ — $ — $ 5,608 $ (84) $ 5,608 $ (84)
Mortgage-backed securities:
Agency 15,593 (133) 735 (13) 16,328 (146)
Agency-collateralized mortgage obligations 5,135 (121) 4,994 (97) 10,129 (218)
Non-agency residential 592 (13) 1,555 (110) 2,147 (123)
Non-U.S. securities 1,715 (1) 563 (5) 2,278 (6)
Corporate/Agency bonds — — 277 (16) 277 (16)
Other taxable securities, substantially all asset-backed securities 1,678 (1) 1,436 (14) 3,114 (15)
Total taxable securities 24,713 (269) 15,168 (339) 39,881 (608)
Tax-exempt securities 1,609 (9) 1,072 (38) 2,681 (47)
Total temporarily impaired available-for-sale debt securities 26,322 (278) 16,240 (377) 42,562 (655)
Other-than-temporarily impaired available-for-sale debt securities (1)
Non-agency residential mortgage-backed securities 14 (1) 74 (4) 88 (5)
Total temporarily impaired and other-than-temporarily impaired available-for-
sale securities (2) $ 26,336 $ (279) $ 16,314 $ (381) $ 42,650 $ (660)
(1) Includes other-than-temporarily impaired AFS debt securities on which an OTTI loss remains in accumulated OCI.
(2) At December 31, 2013 and 2012, the amortized cost of approximately 4,700 and 2,600 AFS debt securities exceeded their fair value by $6.6 billion and $660 million.