SunTrust 2014 Annual Report Download - page 157

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Notes to Consolidated Financial Statements, continued
134
Year Ended December 31, 2013
(Dollars in millions)
Amount of
pre-tax (loss)/gain
recognized in OCI
on Derivatives
(Effective Portion)
Classification of (loss)/gain
reclassified
from AOCI into Income
(Effective Portion)
Amount of
pre-tax gain
reclassified from AOCI
into Income
(Effective Portion)
Derivatives in cash flow hedging relationships:
Interest rate contracts hedging forecasted debt ($2) Interest on long-term debt $—
Interest rate contracts hedging floating rate loans 1 18 Interest and fees on loans 327
Total $16 $327
1 During the year ended December 31, 2013, the Company also reclassified $90 million pre-tax gains from AOCI into net interest income. These gains related to hedging relationships that
have been previously terminated or de-designated and are reclassified into earnings in the same period in which the forecasted transaction occurs.
Year Ended December 31, 2013
(Dollars in millions)
Amount of loss on
Derivatives
recognized in
Income
Amount of gain on related
Hedged Items
recognized in Income
Amount of loss
recognized in Income
on Hedges
(Ineffective Portion)
Derivatives in fair value hedging relationships:
Interest rate contracts hedging fixed rate debt 1($36) $33 ($3)
1 Amounts are recognized in trading income in the Consolidated Statements of Income.
(Dollars in millions) Classification of gain/(loss)
recognized in Income on Derivatives
Amount of gain/(loss)
recognized in Income
on Derivatives during the
Year Ended December 31, 2013
Derivatives not designated as hedging instruments:
Interest rate contracts covering:
Fixed rate debt Trading income $2
MSRs Mortgage servicing related income ($284)
LHFS, IRLCs Mortgage production related income 289
Trading activity Trading income 59
Foreign exchange rate contracts covering:
Commercial loans Trading income 1
Trading activity Trading income 23
Credit contracts covering:
Loans Other noninterest income (4)
Trading activity Trading income 21
Equity contracts - trading activity Trading income (15)
Other contracts - IRLCs Mortgage production related income 98
Total $190