Bank of America 2013 Annual Report Download - page 262
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260 Bank of America 2013
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings (continued)
2011
(Dollars in millions)
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss) (1) Other (2) Total
Trading account assets:
Corporate securities, trading loans and other $ 490 $ — $ — $ 490
Equity securities 49 — — 49
Non-U.S. sovereign debt 87 — — 87
Mortgage trading loans and ABS 442 — — 442
Total trading account assets 1,068 — — 1,068
Net derivative assets 1,516 3,683 — 5,199
AFS debt securities:
Non-agency residential MBS — — (158) (158)
Corporate/Agency bonds — — (12) (12)
Other taxable securities 16 — 10 26
Tax-exempt securities (3) — 24 21
Total AFS debt securities 13 — (136) (123)
Loans and leases (3) — (13) (42) (55)
Mortgage servicing rights — (5,661) — (5,661)
Loans held-for-sale (3) — (108) 144 36
Other assets — (51) 191 140
Trading account liabilities – Corporate securities and other 4 — — 4
Short-term borrowings (3) — (30) — (30)
Accrued expenses and other liabilities (3) (10) 71 — 61
Long-term debt (3) (106) — (82) (188)
Total $ 2,485 $ (2,109) $ 75 $ 451
(1) Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs.
(2) Amounts included are primarily recorded in other income (loss). Equity investment gains of $242 million recorded on other assets were also included for 2011.
(3) Amounts represent instruments that are accounted for under the fair value option.