Bank of America 2014 Annual Report Download - page 249

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Bank of America 2014 247
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings (continued)
2012
(Dollars in millions)
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss) (1) Other (2) Total
Trading account assets:
Corporate securities, trading loans and other $ 195 $ — $ — $ 195
Equity securities 31 — — 31
Non-U.S. sovereign debt 8—— 8
Mortgage trading loans and ABS 215 — — 215
Total trading account assets 449 — — 449
Net derivative assets (3,208) 2,987 — (221)
AFS debt securities:
Non-agency residential MBS — — (69) (69)
Corporate/Agency bonds —— (2)(2)
Other taxable securities 2 — 21 23
Tax-exempt securities — — 61 61
Total AFS debt securities 2 — 11 13
Loans and leases (3) — — 334 334
Mortgage servicing rights — (430) — (430)
Loans held-for-sale (3) — 148 204 352
Other assets — (74) 20 (54)
Trading account liabilities – Corporate securities and other 4 — — 4
Accrued expenses and other liabilities (3) —— (4)(4)
Long-term debt (3) (133) — (174) (307)
Total $ (2,886) $ 2,631 $ 391 $ 136
(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 $97 million recorded on other assets were also included for 2012.
(3) Amounts represent instruments that are accounted for under the fair value option.