Wells Fargo 2011 Annual Report Download - page 200

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Note 17: Fair Values of Assets and Liabilities (continued)
(continued from previous page)
The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities
measured at fair value on a recurring basis for the year ended December 31, 2011.
(in millions)
Purchases
Sales
Issuances
Settlements
Net
Year ended December 31, 2011
Trading assets
(excluding derivatives):
Securities of U.S. states and
political subdivisions
$
313
(199)
-
(102)
12
Collateralized debt obligations
1,054
(1,310)
-
(41)
(297)
Corporate debt securities
80
(150)
-
-
(70)
Mortgage-backed securities
759
(790)
-
(5)
(36)
Asset-backed securities
516
(585)
-
(53)
(122)
Equity securities
6
(22)
-
(12)
(28)
Total trading securities
2,728
(3,056)
-
(213)
(541)
Other trading assets
-
-
2
-
2
Total trading assets
(excluding derivatives)
2,728
(3,056)
2
(213)
(539)
Securities available for sale:
Securities of U.S. states and
political subdivisions
4,280
(4)
4,723
(2,076)
6,923
Mortgage-backed securities:
Residential
3
-
-
(9)
(6)
Commercial
21
-
-
(19)
2
Total mortgage-backed
securities
24
-
-
(28)
(4)
Corporate debt securities
94
(208)
1
(72)
(185)
Collateralized debt obligations
4,805
(36)
-
(1,044)
3,725
Asset-backed securities:
Auto loans and leases
5,918
-
333
(5,720)
531
Home equity loans
44
-
-
(4)
40
Other asset-backed securities
1,428
(456)
1,395
(2,186)
181
Total asset-backed securities
7,390
(456)
1,728
(7,910)
752
Other debt securities
-
(85)
-
-
(85)
Total debt securities
16,593
(789)
6,452
(11,130)
11,126
Marketable equity securities:
Perpetual preferred securities
1
(13)
-
(1,231)
(1,243)
Other marketable equity securities
3
(12)
-
(1)
(10)
Total marketable
equity securities
4
(25)
-
(1,232)
(1,253)
Total securities
available for sale
16,597
(814)
6,452
(12,362)
9,873
Mortgages held for sale
576
(21)
-
(659)
(104)
Loans
23
(309)
-
(13)
(299)
Mortgage servicing rights
-
-
4,011
(54)
3,957
Net derivative assets and liabilities:
Interest rate contracts
6
(1)
-
(3,419)
(3,414)
Commodity contracts
7
(17)
-
1
(9)
Equity contracts
123
(255)
-
160
28
Foreign exchange contracts
4
(4)
-
(6)
(6)
Credit contracts
6
(3)
-
(126)
(123)
Other derivative contracts
-
-
-
-
-
Total derivative contracts
146
(280)
-
(3,390)
(3,524)
Other assets
10
(1)
-
(91)
(82)
Short sale liabilities
(125)
124
-
1
-
Other liabilities (excluding derivatives)
(10)
1
-
317
308
198