PNC Bank 2011 Annual Report Download - page 132

V ARIABLE I NTEREST E NTITIES (VIE S )
We are involved with various entities in the normal course of business that are deemed to be VIEs. We assess VIEs for
consolidation based upon the accounting policies described in Note 1 Accounting Policies. The following provides a summary of
VIEs, including those that we have consolidated and those in which we hold variable interests but have not consolidated into our
financial statements as of December 31, 2011 and December 31, 2010.
Consolidated VIEs – Carrying Value (a)
December 31, 2011
In millions Market Street
Credit Card
Securitization Trust
Tax Credit
Investments (b) Total
Assets
Cash and due from banks $7$7
Interest-earning deposits with banks $ 317 8 325
Investment securities $ 109 109
Loans 4,163 1,933 6,096
Allowance for loan and lease losses (91) (91)
Equity investments 1,643 1,643
Other assets 360 7 838 1,205
Total assets $4,632 $2,166 $2,496 $9,294
Liabilities
Other borrowed funds $4,272 $ 287 $ 218 $4,777
Accrued expenses 50 105 155
Other liabilities 355 379 734
Total liabilities $4,627 $ 337 $ 702 $5,666
December 31, 2010
In millions Market Street
Credit Card
Securitization Trust
Tax Credit
Investments (b) Total
Assets
Cash and due from banks $2$2
Interest-earning deposits with banks $ 284 4 288
Investment securities $ 192 192
Loans 2,520 2,125 4,645
Allowance for loan and lease losses (183) (183)
Equity investments 1,177 1,177
Other assets 271 9 396 676
Total assets $2,983 $2,235 $1,579 $6,797
Liabilities
Other borrowed funds $2,715 $ 523 $ 116 $3,354
Accrued expenses 97988
Other liabilities 268 188 456
Total liabilities $2,983 $ 532 $ 383 $3,898
(a) Amounts represent carrying value on PNC’s Consolidated Balance Sheet.
(b) Amounts primarily represent Low Income Housing Tax Credit (LIHTC) investments.
The PNC Financial Services Group, Inc. – Form 10-K 123