Comerica 2009 Annual Report Download - page 96
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
Note 4 — Investment Securities
A summary of the Corporation’s investment securities available-for-sale follows:
Gross Gross
Amortized Unrealized Unrealized Fair
Cost Gains Losses Value
(in millions)
December 31, 2009
U.S. Treasury and other U.S. government agency securities . . $ 103 $ — $— $ 103
Government-sponsored enterprise residential mortgage-
backed securities .............................. 6,228 51 18 6,261
State and municipal securities (a) .................... 51 — 4 47
Corporate debt securities:
Auction-rate debt securities ...................... 156 — 6 150
Other corporate debt securities .................... 50 — — 50
Equity and other non-debt securities:
Auction-rate preferred securities ................... 711 8 13 706
Money market and other mutual funds .............. 99 — — 99
Total investment securities available-for-sale ............... $7,398 $ 59 $41 $7,416
December 31, 2008
U.S. Treasury and other U.S. government agency securities . . $ 79 $ — $— $ 79
Government-sponsored enterprise residential mortgage-
backed securities .............................. 7,624 242 5 7,861
State and municipal securities (a) .................... 69 — 3 66
Corporate debt securities:
Auction-rate debt securities ...................... 158 — 11 147
Other corporate debt securities .................... 42 — — 42
Equity and other non-debt securities:
Auction-rate preferred securities ................... 954 — 18 936
Money market and other mutual funds .............. 70 — — 70
Total investment securities available-for-sale ............... $8,996 $242 $37 $9,201
(a) Primarily auction-rate securities.
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