Bank of America 2014 Annual Report Download - page 130

128 Bank of America 2014
Table XIII Quarterly Average Balances and Interest Rates – FTE Basis
Fourth Quarter 2014 Third Quarter 2014
(Dollars in millions)
Average
Balance
Interest
Income/
Expense
Yield/
Rate
Average
Balance
Interest
Income/
Expense
Yield/
Rate
Earning assets
Interest-bearing deposits with the Federal Reserve and non-U.S. central banks (1) $ 109,042 $ 74 0.27% $ 110,876 $ 77 0.28%
Time deposits placed and other short-term investments 9,339 41 1.73 10,457 41 1.54
Federal funds sold and securities borrowed or purchased under agreements to resell 217,982 238 0.43 223,978 239 0.42
Trading account assets 144,147 1,141 3.15 143,282 1,148 3.18
Debt securities (2) 371,014 1,687 1.82 359,653 2,236 2.48
Loans and leases (3):
Residential mortgage (4) 223,132 1,946 3.49 235,271 2,083 3.54
Home equity 86,825 809 3.70 88,590 836 3.76
U.S. credit card 89,381 2,086 9.26 88,866 2,093 9.34
Non-U.S. credit card 10,950 280 10.14 11,784 304 10.25
Direct/Indirect consumer (5) 83,121 522 2.49 82,669 523 2.51
Other consumer (6) 2,031 85 16.75 2,111 19 3.44
Total consumer 495,440 5,728 4.60 509,291 5,858 4.58
U.S. commercial 231,217 1,648 2.83 230,891 1,658 2.85
Commercial real estate (7) 46,993 342 2.89 46,071 344 2.96
Commercial lease financing 24,238 198 3.28 24,325 212 3.48
Non-U.S. commercial 86,845 546 2.49 88,663 560 2.51
Total commercial 389,293 2,734 2.79 389,950 2,774 2.83
Total loans and leases 884,733 8,462 3.80 899,241 8,632 3.82
Other earning assets 65,864 739 4.46 65,995 710 4.27
Total earning assets (8) 1,802,121 12,382 2.74 1,813,482 13,083 2.87
Cash and due from banks (1) 27,590 25,120
Other assets, less allowance for loan and lease losses 307,840 297,507
Total assets $ 2,137,551 $2,136,109
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings $ 45,621 $ 1 0.01% $46,803 $ 1 0.01%
NOW and money market deposit accounts 515,995 76 0.06 517,043 78 0.06
Consumer CDs and IRAs 61,880 51 0.33 65,579 59 0.35
Negotiable CDs, public funds and other deposits 30,951 23 0.29 31,806 27 0.34
Total U.S. interest-bearing deposits 654,447 151 0.09 661,231 165 0.10
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries 5,413 12 0.88 8,022 22 1.10
Governments and official institutions 1,647 1 0.15 1,706 1 0.15
Time, savings and other 57,030 73 0.51 61,331 82 0.54
Total non-U.S. interest-bearing deposits 64,090 86 0.53 71,059 105 0.59
Total interest-bearing deposits 718,537 237 0.13 732,290 270 0.15
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term
borrowings 251,432 615 0.97 255,111 591 0.92
Trading account liabilities 78,173 351 1.78 84,988 392 1.83
Long-term debt 249,221 1,314 2.10 251,772 1,386 2.19
Total interest-bearing liabilities (8) 1,297,363 2,517 0.77 1,324,161 2,639 0.79
Noninterest-bearing sources:
Noninterest-bearing deposits 403,977 395,198
Other liabilities 192,763 178,716
Shareholders’ equity 243,448 238,034
Total liabilities and shareholders’ equity $ 2,137,551 $2,136,109
Net interest spread 1.97% 2.08%
Impact of noninterest-bearing sources 0.21 0.21
Net interest income/yield on earning assets $ 9,865 2.18% $10,444 2.29%
(1) 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.
(2) Beginning in 2014, yields on debt securities carried at fair value are calculated on the cost basis. Prior to 2014, yields on debt securities carried at fair value were calculated based on fair value
rather than the cost basis. The use of fair value did not have a material impact on net interest yield.
(3) Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans
were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.
(4) Includes non-U.S. residential mortgage loans of $3 million, $3 million, $2 million and $0 million in the fourth, third, second and first quarters of 2014, and $56 million in the fourth quarter of 2013,
respectively.
(5) Includes non-U.S. consumer loans of $4.2 billion, $4.3 billion, $4.4 billion and $4.6 billion in the fourth, third, second and first quarters of 2014, and $5.1 billion in the fourth quarter of 2013,
respectively.
(6) Includes consumer finance loans of $907 million, $1.1 billion, $1.1 billion and $1.2 billion in the fourth, third, second and first quarters of 2014, and $1.2 billion in the fourth quarter of 2013,
respectively; consumer leases of $965 million, $887 million, $762 million and $656 million in the fourth, third, second and first quarters of 2014, and $549 million in the fourth quarter of 2013,
respectively; consumer overdrafts of $156 million, $161 million, $137 million and $140 million in the fourth, third, second and first quarters of 2014, and $163 million in the fourth quarter of 2013,
respectively; and other non-U.S. consumer loans of $3 million for each of the quarters of 2014, and $2 million in the fourth quarter of 2013.
(7) Includes U.S. commercial real estate loans of $45.1 billion, $45.0 billion, $46.7 billion and $47.0 billion in the fourth, third, second and first quarters of 2014, and $44.5 billion in the fourth quarter
of 2013, respectively; and non-U.S. commercial real estate loans of $1.9 billion, $1.0 billion, $1.6 billion and $1.8 billion in the fourth, third, second and first quarters of 2014, and $1.8 billion in
the fourth quarter of 2013, respectively.
(8) Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets by $10 million, $30 million, $13 million and $5 million in
the fourth, third, second and first quarters of 2014, and $0 million in the fourth quarter of 2013, respectively. Interest expense includes the impact of interest rate risk management contracts, which
decreased interest expense on the underlying liabilities by $659 million, $602 million, $621 million and $592 million in the fourth, third, second and first quarters of 2014, and $588 million in the
fourth quarter of 2013, respectively. For more information on interest rate contracts, see Interest Rate Risk Management for Non-trading Activities on page 102.