Bank of America 2015 Annual Report Download - page 235

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Bank of America 2015 233
The table below summarizes changes in unrealized gains (losses) recorded in earnings during 2015, 2014 and 2013 for Level 3
assets and liabilities that were still held at December 31, 2015, 2014 and 2013. These amounts include changes in fair value on
loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option.
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date
2015
(Dollars in millions)
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss) (1) Other Total
Trading account assets:
Corporate securities, trading loans and other $ (123) $ — $ —$ (123)
Equity securities 3 — —3
Non-U.S. sovereign debt 74 — —74
Mortgage trading loans and ABS (93) — —(93)
Total trading account assets (139) — —(139)
Net derivative assets 507 36 62 605
Loans and leases (2) (3) — 16 13
Mortgage servicing rights 73 (158) —(85)
Loans held-for-sale (2) (1) — (38) (39)
Other assets — (41) (20) (61)
Trading account liabilities – Corporate securities and other (3) — —(3)
Short-term borrowings (2) 1 — —1
Accrued expenses and other liabilities — — 1 1
Long-term debt (2) 277 — (22) 255
Total $ 712 $ (163) $ (1) $ 548
2014
Trading account assets:
Corporate securities, trading loans and other $ 69 $ — $ — $ 69
Equity securities (8) — — (8)
Non-U.S. sovereign debt 31 — — 31
Mortgage trading loans and ABS 79 — — 79
Total trading account assets 171 — — 171
Net derivative assets (276) 85 104 (87)
Loans and leases (2) — — 76 76
Mortgage servicing rights (6) (1,747) — (1,753)
Loans held-for-sale (2) (14) — 10 (4)
Other assets — (50) 102 52
Trading account liabilities – Corporate securities and other 1 — — 1
Accrued expenses and other liabilities — — 1 1
Long-term debt (2) 29 — (37) (8)
Total $ (95) $ (1,712) $ 256 $ (1,551)
2013
Trading account assets:
Corporate securities, trading loans and other $ (130) $ — $ — $ (130)
Equity securities 40 — — 40
Non-U.S. sovereign debt 80 — — 80
Mortgage trading loans and ABS (174) — — (174)
Total trading account assets (184) — — (184)
Net derivative assets (1,375) 42 (7) (1,340)
Loans and leases (2) — (34) 152 118
Mortgage servicing rights — 1,541 — 1,541
Loans held-for-sale (2) — 6 57 63
Other assets — 166 14 180
Long-term debt (2) (4) — (32) (36)
Total $ (1,563) $ 1,721 $ 184 $ 342
(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.