Bank of America 2014 Annual Report Download - page 256

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254 Bank of America 2014
The table below provides information about the fair value carrying amount and the contractual principal outstanding of assets and
liabilities accounted for under the fair value option at December 31, 2014 and 2013.
Fair Value Option Elections
December 31
2014 2013
(Dollars in millions)
Fair Value
Carrying
Amount
Contractual
Principal
Outstanding
Fair Value
Carrying
Amount Less
Unpaid
Principal
Fair Value
Carrying
Amount
Contractual
Principal
Outstanding
Fair Value
Carrying
Amount Less
Unpaid
Principal
Loans reported as trading account assets (1) $ 4,607 $ 8,487 $ (3,880)$ 2,406 $ 4,541 $ (2,135)
Trading inventory other 6,865 n/a n/a 5,475 n/a n/a
Consumer and commercial loans 8,681 8,925 (244) 10,042 10,423 (381)
Loans held-for-sale 6,801 6,920 (119) 6,656 6,996 (340)
Securities financing agreements 97,539 97,234 305 95,156 94,890 266
Other assets 253 270 (17) 278 270 8
Long-term deposits 1,469 1,361 108 1,899 1,797 102
Unfunded loan commitments 405 n/a n/a 354 n/a n/a
Short-term borrowings 2,697 2,697 — 1,520 1,520 —
Long-term debt (2) 36,404 35,815 589 47,035 46,669 366
(1) A significant portion of the loans reported as trading account assets are distressed loans which trade and were purchased at a deep discount to par, and the remainder are loans with a fair value
near contractual principal outstanding.
(2) Includes structured liabilities with a fair value of $35.3 billion and contractual principal outstanding of $34.6 billion at December 31, 2014 compared to $40.7 billion and $39.7 billion at December 31,
2013.
n/a = not applicable