PNC Bank 2007 Annual Report Download - page 89

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N
OTE
4S
ECURITIES
In millions
Amortized
Cost
Unrealized Fair
ValueGains Losses
December 31, 2007
S
ECURITIES
A
VAILABLE
F
OR
S
ALE
Debt securities
U.S. Treasury and government agencies $151 $4 $155
Residential mortgage-backed 21,147 118 $(313) 20,952
Commercial mortgage-backed 5,227 53 (16) 5,264
Asset-backed 2,878 4 (112) 2,770
State and municipal 340 1 (5) 336
Other debt 85 (1) 84
Total debt securities 29,828 180 (447) 29,561
Corporate stocks and other 662 2 664
Total securities available for sale $30,490 $182 $(447) $30,225
December 31, 2006
S
ECURITIES
A
VAILABLE
F
OR
S
ALE
Debt securities
U.S. Treasury and government agencies $611 $(3) $608
Residential mortgage-backed 17,325 $39 (156) 17,208
Commercial mortgage-backed 3,231 13 (25) 3,219
Asset-backed 1,615 3 (9) 1,609
State and municipal 140 1 (2) 139
Other debt 90 (3) 87
Total debt securities 23,012 56 (198) 22,870
Corporate stocks and other 321 1 (1) 321
Total securities available for sale $23,333 $57 $(199) $23,191
December 31, 2005
S
ECURITIES
A
VAILABLE
F
OR
S
ALE
Debt securities
U.S. Treasury and government agencies $3,816 $(72) $3,744
Residential mortgage-backed 13,794 $1 (251) 13,544
Commercial mortgage-backed 1,955 1 (37) 1,919
Asset-backed 1,073 (10) 1,063
State and municipal 159 1 (2) 158
Other debt 87 (1) 86
Total debt securities 20,884 3 (373) 20,514
Corporate stocks and other 196 196
Total securities available for sale $21,080 $3 $(373) $20,710
We evaluate our securities available for sale portfolio in light of changing market conditions and other factors and, where
appropriate, take steps intended to improve our overall positioning.
The fair value of securities available for sale generally decreases when interest rates increase and vice versa. Net unrealized gains
and losses in the securities available for sale portfolio are included in shareholders’ equity as accumulated other comprehensive
income or loss, net of tax.
84