PNC Bank 2002 Annual Report Download - page 105
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103
NOTE 28 FAIR VALUE OF FINANCIAL INSTRUMENTS
2002 2001
December 31 - in millions
Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Assets
Cash and short-term assets $7,295 $7,295 $6,200 $6,200
Securities 13,763 13,796 13,908 13,905
Loans held for sale 1,607 1,607 4,189 4,189
Net loans (excludes leases) 30,766 31,718 33,011 33,588
Other assets 791 791 966 966
Commercial mortgage servicing rights 201 227 199 240
Financial derivatives
Interest rate risk management 519 519 278 278
Commercial mortgage banking risk
management 55
Customer/other derivatives 762 762 497 497
Liabilities
Demand, savings and money market deposits 34,363 34,363 34,531 34,531
Time deposits 10,619 10,946 12,773 12,942
Borrowed funds 9,383 9,544 12,390 12,579
Financial derivatives
Interest rate risk management 8816 16
Commercial mortgage banking risk
management 16 16 44
Customer/other derivatives 766 766 476 476
Off-Balance-Sheet
Unfunded loan commitments
and letters of credit (71) (85) (57) (71)