PNC Bank 2009 Annual Report Download - page 124

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Details of available for sale, trading securities and equity investments measured at fair value on a recurring basis follow.
Fair Value Measurements – Available for sale, trading securities and equity investments
December 31, 2009
In millions Level 1 Level 2 Level 3
Total Fair
Value
Available for sale securities
US Treasury and government agencies $7,026 $ 494 $ 7,520
Residential mortgage-backed
Agency 24,433 $ 5 24,438
Non-agency 8,302 8,302
Commercial mortgage-backed
Agency 1,297 1,297
Non-agency 3,842 6 3,848
Asset-backed 414 1,254 1,668
State and municipal 1,084 266 1,350
Other debt 1,962 53 2,015
Total debt securities 7,026 33,526 9,886 50,438
Corporate stocks and other 230 83 47 360
Total securities available for sale $7,256 $33,609 $9,933 $50,798
Trading securities
Debt $1,690 $ 299 $ 89 $ 2,078
Equity 46 46
Total trading securities $1,736 $ 299 $ 89 $ 2,124
Equity investments
Direct investments $ 595 $ 595
Indirect investments (a) 593 593
Total equity investments $1,188 $ 1,188
Trading securities sold short
Debt $1,288 $ 42 $ 1,330
Equity 14 14
Total trading securities sold short $1,302 $ 42 $ 1,344
(a) The indirect equity funds are not redeemable, but PNC receives distributions over the life of the partnership from liquidation of the underlying investments by the investee.
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