PNC Bank 2012 Annual Report Download - page 83

• PNC Equipment Finance is the 4th largest bank-
affiliated leasing company with over $11 billion in
equipment finance assets.
Average deposits were $60.0 billion in 2012, an increase of
$10.0 billion, or 20%, compared with 2011.
• Deposit growth has been very strong, consistent with
the industry-wide trend, as clients hold record levels
of cash.
• Deposit inflows into noninterest-bearing demand
deposits continued as FDIC insurance has been an
attraction for customers maintaining liquidity during
this prolonged period of low interest rates.
• The repeal of Regulation Q limitations on interest-
bearing commercial demand deposit accounts
became effective in the third quarter of 2011. Interest
in this product has been muted due to the current rate
environment.
• As of February 22, 2013, commercial deposits have
declined by $3.6 billion from the December 31, 2012
level as a result of seasonal and normal business
activity. Deposit fluctuations due to the Transaction
Account Guarantee Program’s expiration have not
been significant. Management expects that in the
current interest rate environment, additional runoff of
commercial deposits will not be significant.
The commercial mortgage servicing portfolio was $282 billion
at December 31, 2012 compared with $267 billion at
December 31, 2011. Servicing additions exceeded portfolio
run-off.
See the additional revenue discussion regarding treasury
management, capital markets-related products and services,
and commercial mortgage banking activities in the Product
Revenue section of the Consolidated Income Statement
Review.
64 The PNC Financial Services Group, Inc. – Form 10-K