Bank of America 2009 Annual Report Download - page 110

Table II Analysis of Changes in Net Interest Income – FTE Basis
From 2008 to 2009 From 2007 to 2008
Due to Change in
(1)
Net
Change
Due to Change in
(1)
Net
Change(Dollars in millions) Volume Rate Volume Rate
Increase (decrease) in interest income
Time deposits placed and other short-term investments $ 689 $ (416) $ 273 $ (117) $ (70) $ (187)
Federal funds sold and securities borrowed or purchased under agreements to resell 2,793 (3,212) (419) (1,371) (3,038) (4,409)
Trading account assets 1,507 (2,530) (1,023) (45) (443) (488)
Debt securities 1,091 (1,250) (159) 3,435 (72) 3,363
Loans and leases:
Residential mortgage (619) (503) (1,122) (252) (203) (455)
Home equity 1,107 (1,977) (870) 2,717 (2,496) 221
Discontinued real estate 507 (283) 224 n/a n/a 858
Credit card – domestic (1,181) 4 (1,177) 677 (1,059) (382)
Credit card – foreign 387 (307) 80 506 34 540
Direct/Indirect consumer 1,465 (2,383) (918) 1,070 (138) 932
Other consumer (43) (41) (84) (59) (9) (68)
Total consumer (3,867) 1,646
Commercial – domestic 182 (3,001) (2,819) 2,886 (4,068) (1,182)
Commercial real estate 493 (1,178) (685) 1,482 (1,570) (88)
Commercial lease financing (12) 203 191 110 (523) (413)
Commercial – foreign 20 (117) (97) 472 (421) 51
Total commercial (3,410) (1,632)
Total loans and leases (7,277) 14
Other earning assets 2,966 (2,022) 944 302 (770) (468)
Total interest income $(7,661) $ (2,175)
Increase (decrease) in interest expense
Domestic interest-bearing deposits:
Savings $ 9 $ (24) $ (15) $ (1) $ 43 $ 42
NOW and money market deposit accounts 1,279 (3,503) (2,224) 942 (1,522) (580)
Consumer CDs and IRAs 511 (2,861) (2,350) 1,684 (2,097) (413)
Negotiable CDs, public funds and other time deposits 178 (781) (603) 555 (453) 102
Total domestic interest-bearing deposits (5,192) (849)
Foreign interest-bearing deposits:
Banks located in foreign countries (516) (403) (919) (261) (850) (1,111)
Governments and official institutions (130) (163) (293) (174) (327) (501)
Time, savings and other 101 (1,140) (1,039) 323 (705) (382)
Total foreign interest-bearing deposits (2,251) (1,994)
Total interest-bearing deposits (7,443) (2,843)
Federal funds purchased, securities loaned or sold under
agreements to repurchase and other short-term borrowings 880 (7,730) (6,850) 1,593 (11,198) (9,605)
Trading account liabilities (30) (669) (699) (411) (259) (670)
Long-term debt 9,267 (3,792) 5,475 3,382 (2,803) 579
Total interest expense (9,517) (12,539)
Net increase in net interest income $ 1,856 $ 10,364
(1) The changes for each category of interest income and expense are divided between the portion of change attributable to the variance in volume and the portion of change attributable to the variance in rate for that
category. The unallocated change in rate or volume variance is allocated between the rate and volume variances.
n/a = not applicable
108 Bank of America 2009