PNC Bank 2010 Annual Report Download - page 47
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Please find page 47 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.We recognized OTTI for 2010 and 2009 as follows:
Other-Than-Temporary Impairments
In millions 2010 2009
Credit portion of OTTI losses (a)
Non-agency residential mortgage-backed $(242) $ (444)
Non-agency commercial mortgage-backed (5) (6)
Asset-backed (78) (111)
Other debt (12)
Marketable equity securities (4)
Total credit portion of OTTI losses (325) (577)
Noncredit portion of OTTI losses (b) (283) (1,358)
Total OTTI losses $(608) $(1,935)
(a) Reduction of noninterest income in our Consolidated Income Statement.
(b) Included in accumulated other comprehensive loss, net of tax, on our Consolidated
Balance Sheet.
The following table summarizes net unrealized gains and losses (including the credit and noncredit portions of OTTI) recorded on
non-agency residential and commercial mortgage-backed and other asset-backed securities, which represent our most significant
categories of securities not backed by the US government or its agencies. A summary of all OTTI credit losses recognized for 2010
by investment type is included in Note 7 Investment Securities in the Notes To Consolidated Financial Statements In Item 8 of this
Report.
December 31, 2010
In millions
Residential Mortgage-
Backed Securities
Commercial
Mortgage-Backed
Securities
Asset-Backed
Securities (a)
AVAILABLE FOR SALE SECURITIES (NON-AGENCY)
Fair
Value
Net
Unrealized
Gain
(Loss)
Fair
Value
Net
Unrealized
Gain
(Loss)
Fair
Value
Net
Unrealized
Gain
(Loss)
Credit Rating Analysis
AAA $ 538 $ (15) $1,076 $ 34 $1,701 $ 8
Other Investment Grade (AA, A, BBB) 1,001 (46) 713 17 54 (9)
Total Investment Grade 1,539 (61) 1,789 51 1,755 (1)
BB 419 (27) 61 7
B1,051 (117) 6 4 207 (39)
Lower than B 4,224 (755) 587 (142)
No Rating 29 (16)
Total Sub-Investment Grade 5,694 (899) 67 11 823 (197)
Total $7,233 $(960) $1,856 $ 62 $2,578 $(198)
OTTI Analysis
Investment Grade:
OTTI has been recognized $ 69 $ (13)
No OTTI recognized to date 1,470 (48) $1,789 $ 51 $1,755 $ (1)
Total Investment Grade 1,539 (61) 1,789 51 1,755 (1)
Sub-Investment Grade:
OTTI has been recognized 3,701 (825) 22 6 627 (190)
No OTTI recognized to date 1,993 (74) 45 5 196 (7)
Total Sub-Investment Grade 5,694 (899) 67 11 823 (197)
Total $7,233 $(960) $1,856 $ 62 $2,578 $(198)
SECURITIES HELD TO MATURITY (NON-AGENCY)
Credit Rating Analysis
AAA $4,314 $175 $2,407 $ 47
Other Investment Grade (AA, A, BBB) 176 (1) 157 3
Total Investment Grade 4,490 174 2,564 50
BB
B9
Lower than B
No Rating 92
Total Sub-Investment Grade 101
Total $4,490 $174 $2,665 $ 50
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