SunTrust 2014 Annual Report Download - page 67
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44
SELECTED FINANCIAL INSTRUMENTS CARRIED AT FAIR VALUE
The following is a discussion of the more significant financial
assets and financial liabilities that are currently carried at fair
value on the Consolidated Balance Sheets at December 31, 2014
and 2013. For a complete discussion of our financial instruments
carried at fair value and the methodologies used to estimate the
fair values of our financial instruments, see Note 18, “Fair Value
Election and Measurement,” to the Consolidated Financial
Statements in this Form 10-K.
Trading Assets and Liabilities and Derivatives Table 15
December 31
(Dollars in millions) 2014 2013
Trading Assets and Derivatives:
U.S. Treasury securities $267 $219
Federal agency securities 547 426
U.S. states and political subdivisions 42 65
MBS - agency 545 323
CDO/CLO securities 357
ABS —6
Corporate and other debt securities 509 534
CP 327 29
Equity securities 45 109
Derivatives 11,307 1,384
Trading loans 22,610 1,888
Total trading assets and derivatives $6,202 $5,040
Trading Liabilities and Derivatives:
U.S. Treasury securities $485 $472
MBS - agency 1—
Corporate and other debt securities 279 179
Equity securities —5
Derivatives 1462 525
Total trading liabilities and derivatives $1,227 $1,181
1 Amounts include the impact of 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 loans related to TRS.
Trading Assets and Liabilities and Derivatives
Trading assets and derivatives increased 23% compared to the
prior year, as a result of normal changes in the trading portfolio
product mix, primarily due to increases in trading loans, CP, and
agency MBS. The increase was partially offset by decreases in
equity securities and CDO/CLO securities. Trading liabilities
and derivatives remained relatively unchanged compared to the
prior year, as an increase in corporate and other debt securities
was offset by a decrease in net derivative liabilities, resulting
from normal business activity. See Note 17, "Derivative
Financial Instruments," to the Consolidated Financial
Statements in this Form 10-K for additional information on
derivatives. For a discussion of market risk associated with our
trading activities, refer to the "Market Risk Management—
Market Risk from Trading Activities" section of this MD&A.