Bank of America 2014 Annual Report Download - page 118

116 Bank of America 2014
Table II Analysis of Changes in Net Interest Income – FTE Basis
From 2013 to 2014 From 2012 to 2013
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
Interest-bearing deposits with the Federal Reserve and non-U.S. central banks (2) $103 $23$
126 $ (23) $ 15 $ (8)
Time deposits placed and other short-term investments (59) 42 (17) (71) 22 (49)
Federal funds sold and securities borrowed or purchased under agreements to resell (5) (185) (190) (66) (207) (273)
Trading account assets (669) 506 (163) (50) (377) (427)
Debt securities 385 (2,102)(1,717)(381) 1,229 848
Loans and leases:
Residential mortgage (704) (151) (855) (276) (252) (528)
Home equity (408) (87) (495) (646) 55 (591)
U.S. credit card (136) (343) (479) (449) (263) (712)
Non-U.S. credit card 76 (147) (71) (312) 11 (301)
Direct/Indirect consumer (13) (258) (271) (48) (482) (530)
Other consumer 10 57 67 (32) (36) (68)
Total consumer
(2,104) (2,730)
U.S. commercial 349 (528) (179) 616 (786) (170)
Commercial real estate 173 (153) 20 154 (95) 59
Commercial lease financing 18 (32) (14) 81 (104) (23)
Non-U.S. commercial (24) 159 135 785 (296) 489
Total commercial (38) 355
Total loans and leases
(2,142) (2,375)
Other earning assets (518) 497 (21) (249) 111 (138)
Total interest income $
(4,124) $ (2,422)
Increase (decrease) in interest expense
U.S. interest-bearing deposits:
Savings $1$(20)$(19) $ 3 $ (26) $ (23)
NOW and money market deposit accounts 2 (99) (97) 66 (346) (280)
Consumer CDs and IRAs (77) (130) (207) (110) (112) (222)
Negotiable CDs, public funds and other deposits 19 (29) (10) 34 (46) (12)
Total U.S. interest-bearing deposits (333) (537)
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries (24) 18 (6) (14) — (14)
Governments and official institutions ——— 2(3)(1)
Time, savings and other 25 (2) 23 17 (59) (42)
Total non-U.S. interest-bearing deposits 17 (57)
Total interest-bearing deposits (316) (594)
Federal funds purchased, securities loaned or sold under agreements to repurchase and
short-term borrowings (424) 79 (345) (196) (453) (649)
Trading account liabilities (26) (36) (62) 215 (340) (125)
Long-term debt (255) (843) (1,098)(1,569) (1,052) (2,621)
Total interest expense
(1,821) (3,989)
Net increase (decrease) in net interest income $ (2,303) $ 1,567
(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) Beginning in 2014, interest-bearing deposits placed with the Federal Reserve and certain non-U.S. central banks are included in earning assets. In prior periods, these balances were included with
cash and due from banks in the cash and cash equivalents line, consistent with the Consolidated Balance Sheet presentation. Prior periods have been reclassified to conform to current period
presentation.