JP Morgan Chase 2008 Annual Report Download - page 173
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JPMorgan Chase & Co./ 2008 Annual Report 171
The amortized cost and estimated fair value of AFS and HTM securities were as follows for the dates indicated.
2008 2007
Gross Gross Gross Gross
Amortized unrealized unrealized Fair Amortized unrealized unrealized Fair
December 31, (in millions) cost gains losses value cost gains losses value
Available-for-sale securities
U.S. government and federal agency obligations:
U.S. treasuries $ 616 $ 2 $ 7 $ 611 $ 2,470 $ 14 $ 2 $ 2,482
Mortgage-backed securities 6,281 148 5 6,424 81— 9
Agency obligations 69 13 — 82 73 9 — 82
Collateralized mortgage obligations 557 9 8 558 —— — —
U.S. government-sponsored enterprise obligations:
Mortgage-backed securities 108,360 2,257 214 110,403 62,505 641 55 63,091
Direct obligations(a) 9,717 37 90 9,664 62— 8
Obligations of state and political subdivisions 3,479 94 238 3,335 92 1 2 91
Certificates of deposit 17,226 64 8 17,282 2,040 — — 2,040
Debt securities issued by non-U.S. governments 8,173 173 2 8,344 6,804 18 28 6,794
Corporate debt securities 9,358 257 61 9,554 1,927 1 4 1,924
Equity securities 3,073 2 7 3,068 4,124 55 1 4,178
Mortgage-backed securities:
Prime 7,762 4 1,739 6,027 3,551 7 5 3,553
Subprime 213 — 19 194 384 41 28 397
Alt-A 1,064 — 196 868 —— — —
Non-U.S. residential 2,233 24 182 2,075 —— — —
Commercial 4,623 — 684 3,939 —— — —
Asset-backed securities:
Credit card receivables 13,651 8 2,268 11,391 775 — 47 728
Other consumer loans 1,008 4 134 878 —— — —
Commercial and industrial loans 11,847 168 820 11,195 —— — —
Other 18 — 1 17 29 — — 29
Total available-for-sale securities $ 209,328 $3,264 $ 6,683 $ 205,909 $ 84,788 $ 790 $ 172 $ 85,406
Held-to-maturity securities(b) $34$1$—$35$44 $1 $—$45
(a) Consists primarily of mortgage-related obligations.
(b) Consists primarily of mortgage-backed securities issued by U.S. government-sponsored entities.