PNC Bank 2010 Annual Report Download - page 140
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Please find page 140 of the 2010 PNC Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt
securities at December 31, 2010.
Contractual Maturity of Debt Securities
December 31, 2010
Dollars in millions
1 Year or
Less
After 1 Year
through 5
Years
After 5 Years
through 10 Years
After 10
Years Total
S
ECURITIES
A
VAILABLE
F
OR
S
ALE
US Treasury and government agencies $2,328 $2,915 $ 332 $ 5,575
Residential mortgage-backed
Agency 36 1,310 30,351 31,697
Non-agency 36 8,157 8,193
Commercial mortgage-backed
Agency 599 1,063 101 1,763
Non-agency 52 1,742 1,794
Asset-backed $ 8 223 383 2,166 2,780
State and municipal 42 144 284 1,529 1,999
Other debt 23 2,680 810 479 3,992
Total debt securities available for sale $ 73 $6,062 $6,801 $44,857 $57,793
Fair value $ 73 $6,192 $6,983 $43,684 $56,932
Weighted-average yield, GAAP basis 2.75% 2.63% 3.53% 4.17% 3.93%
S
ECURITIES
H
ELD TO
M
ATURITY
Commercial mortgage-backed (non-agency) $ 144 $ 62 $ 73 $ 4,037 $ 4,316
Asset-backed 46 1,924 304 352 2,626
Other debt 16310
Total debt securities held to maturity $ 190 $1,987 $ 383 $ 4,392 $ 6,952
Fair value $ 200 $2,036 $ 390 $ 4,551 $ 7,177
Weighted-average yield, GAAP basis 4.72% 2.67% 2.37% 4.86% 4.10%
Based on market implied forward interest rates and expected prepayment speeds, the weighted-average expected maturities of
mortgage and other asset-backed debt securities were as follows as of December 31, 2010:
Weighted-Average Expected Maturity of Mortgage and Other Asset-Backed Debt Securities
December 31,
2010
Agency mortgage-backed securities 4.8 years
Non-agency mortgage-backed securities 5.0 years
Agency commercial mortgage-backed securities 5.9 years
Non-agency commercial mortgage-backed securities 3.5 years
Asset-backed securities 3.3 years
Weighted-average yields are based on historical cost with effective yields weighted for the contractual maturity of each security. At
December 31, 2010, there were no securities of a single issuer, other than FNMA and FHLMC, which exceeded 10% of total
shareholders’ equity.
The following table presents the fair value of securities that have been either pledged to or accepted from others to collateralize
outstanding borrowings.
Fair Value of Securities Pledged and Accepted as Collateral
In millions
December 31,
2010
December 31,
2009
Pledged to others $27,985 $23,368
Accepted from others:
Permitted by contract or custom to sell or repledge 3,529 2,357
Permitted amount repledged to others 1,971 1,283
The securities pledged to others include positions held in our portfolio of investment securities, trading securities, and securities
accepted as collateral from others that we are permitted by contract or custom to sell or repledge, and were used to secure public
and trust deposits, repurchase agreements, and for other purposes. The securities accepted from others that we are permitted by
contract or custom to sell or repledge are a component of Federal funds sold and resale agreements on our Consolidated Balance
Sheet.
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