SunTrust 2014 Annual Report Download - page 163
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Notes to Consolidated Financial Statements, continued
140
Recurring Fair Value Measurements
The following tables present certain information regarding
assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial
instruments for which fair value has been elected.
December 31, 2014
Fair Value Measurements
(Dollars in millions) Level 1 Level 2 Level 3 Netting
Adjustments 1Assets/Liabilities
at Fair Value
Assets
Trading assets and derivatives:
U.S. Treasury securities $267 $— $— $— $267
Federal agency securities — 547 — — 547
U.S. states and political subdivisions — 42 — — 42
MBS - agency — 545 — — 545
CLO securities — 3 — — 3
Corporate and other debt securities — 509 — — 509
CP — 327 — — 327
Equity securities 45 — — — 45
Derivative contracts 688 5,126 25 (4,532) 1,307
Trading loans — 2,610 — — 2,610
Total trading assets and derivatives 1,000 9,709 25 (4,532) 6,202
Securities AFS:
U.S. Treasury securities 1,921 — — — 1,921
Federal agency securities — 484 — — 484
U.S. states and political subdivisions — 197 12 — 209
MBS - agency — 23,048 — — 23,048
MBS - private — — 123 — 123
ABS — — 21 — 21
Corporate and other debt securities — 36 5 — 41
Other equity securities 2138 — 785 — 923
Total securities AFS 2,059 23,765 946 — 26,770
Residential LHFS — 1,891 1 — 1,892
LHFI — — 272 — 272
MSRs — — 1,206 — 1,206
Liabilities
Trading liabilities and derivatives:
U.S. Treasury securities 485 — — — 485
MBS - agency — 1 — — 1
Corporate and other debt securities — 279 — — 279
Derivative contracts 444 5,128 5 (5,115) 462
Total trading liabilities and derivatives 929 5,408 5 (5,115) 1,227
Long-term debt — 1,283 — — 1,283
Other liabilities 3— — 27 — 27
1 Amounts represent offsetting cash collateral received from, and paid to, the same derivative counterparties, and the impact of netting derivative assets and derivative liabilities when a
legally enforceable master netting agreement or similar agreement exists.
2 Includes $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank of Atlanta stock, $138 million in mutual fund investments, and $7 million of other.
3 Includes contingent consideration obligations related to acquisitions.