Bank of America 2015 Annual Report Download - page 233

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Bank of America 2015 231
The following tables summarize gains (losses) due to changes in fair value, including both realized and unrealized gains (losses),
recorded in earnings for Level 3 assets and liabilities during 2015, 2014 and 2013. These amounts include gains (losses) on loans,
LHFS, loan commitments and structured liabilities that are accounted for under the fair value option.
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings
2015
(Dollars in millions)
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss) (1) Other Total
Trading account assets:
Corporate securities, trading loans and other $ (31) $ — $ —$ (31)
Equity securities 9 — —9
Non-U.S. sovereign debt 114 ——114
Mortgage trading loans and ABS 154 ——154
Total trading account assets 246 ——246
Net derivative assets 508 765 62 1,335
AFS debt securities – Non-agency residential MBS — — (12) (12)
Other debt securities carried at fair value – Non-agency residential MBS — — (3) (3)
Loans and leases (2) (8) — (15) (23)
Mortgage servicing rights 73 114 — 187
Loans held-for-sale (2) (58) — 7 (51)
Other assets — (66) 11 (55)
Federal funds purchased and securities loaned or sold under agreements to repurchase (2) (11) — —(11)
Trading account liabilities – Corporate securities and other 19 — —19
Short-term borrowings (2) 17 — —17
Accrued expenses and other liabilities — — 1 1
Long-term debt (2) 339 — (52) 287
Total $ 1,125 $ 813 $(1) $ 1,937
2014
Trading account assets:
Corporate securities, trading loans and other $ 180 $ — $ — $ 180
Non-U.S. sovereign debt 30 — — 30
Mortgage trading loans and ABS 199 — — 199
Total trading account assets 409 — — 409
Net derivative assets (475) 834 104 463
AFS debt securities:
Non-agency residential MBS — — (2) (2)
Non-U.S. securities — — (7) (7)
Other taxable securities — — 9 9
Tax-exempt securities — — 8 8
Total AFS debt securities — — 8 8
Loans and leases (2) — — 69 69
Mortgage servicing rights (6) (1,225) — (1,231)
Loans held-for-sale (2) (14) — 59 45
Other assets — (79) (19) (98)
Trading account liabilities – Corporate securities and other 1 — — 1
Accrued expenses and other liabilities — — 2 2
Long-term debt (2) 78 — (29) 49
Total $ (7) $ (470) $ 194 $ (283)
(1) Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs.
(2) Amounts represent instruments that are accounted for under the fair value option.