Bank of America 2015 Annual Report Download - page 241

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Bank of America 2015 239
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, 2015 and 2014.
Fair Value Option Elections
December 31
2015 2014
(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
Federal funds sold and securities borrowed or purchased under
agreements to resell $ 55,143 $ 54,999 $ 144 $ 62,182 $ 61,902 $ 280
Loans reported as trading account assets (1) 4,995 9,214 (4,219)4,607 8,487 (3,880)
Trading inventory – other 8,149 n/a n/a 6,865 n/a n/a
Consumer and commercial loans 6,938 7,293 (355) 8,681 8,925 (244)
Loans held-for-sale 4,818 6,157 (1,339)6,801 8,072 (1,271)
Other assets 275 270 5253 270 (17)
Long-term deposits 1,116 1,021 95 1,469 1,361 108
Federal funds purchased and securities loaned or sold under
agreements to repurchase 24,574 24,718 (144) 35,357 35,332 25
Short-term borrowings 1,325 1,325 — 2,697 2,697 —
Unfunded loan commitments 658 n/a n/a 405 n/a n/a
Long-term debt (2) 30,097 30,593 (496) 36,404 35,815 589
(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 $29.0 billion and $35.3 billion, and contractual principal outstanding of $29.4 billion and $34.6 billion at December 31, 2015 and 2014.
n/a = not applicable