Wells Fargo 2012 Annual Report Download - page 210

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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, 2012.
(in millions) Purchases Sales Issuances Settlements Net
Year ended December 31, 2012
Trading assets
(excluding derivatives):
Securities of U.S. states and
political subdivisions $ 85 (95) - - (10)
Collateralized debt obligations 829 (1,478) - - (649)
Corporate debt securities 192 (237) - - (45)
Mortgage-backed securities 49 (159) - - (110)
Asset-backed securities 116 (169) - (45) (98)
Equity securities 1 (2) - - (1)
Total trading securities 1,272 (2,140) - (45) (913)
Other trading assets - - - - -
Total trading assets
(excluding derivatives) 1,272 (2,140) - (45)
(
913
)
Securities available for sale:
Securities of U.S. states and
political subdivisions 1,847 (37) 1,011 (1,474) 1,347
Mortgage-backed securities:
Residential 86 (34) - (2) 50
Commercial 39 - - (69) (30)
Total mortgage-backed
securities 125 (34) - (71) 20
Corporate debt securities 26 (37) - (9) (20)
Collateralized debt obligations 5,608 (185) - (1,483) 3,940
Asset-backed securities:
Auto loans and leases 3,004 - 666 (4,396) (726)
Home equity loans - (2) - (1) (3)
Other asset-backed securities 2,074 (159) 1,401 (2,987) 329
Total asset-backed securities 5,078 (161) 2,067 (7,384) (400)
Total debt securities 12,684 (454) 3,078 (10,421) 4,887
Marketable equity securities:
Perpetual preferred securities - - - (611) (611)
Other marketable equity securities - (8) - (1) (9)
Total marketable
equity securities - (8) - (612) (620)
Total securities
available for sale 12,684 (462) 3,078 (11,033) 4,267
Mortgages held for sale 441 - - (749)
(
308
)
Loans 2 - 257 (114) 145
Mortgage servicing rights - (293) 5,182 - 4,889
Net derivative assets and liabilities:
Interest rate contracts 11 - - (7,360)
(
7,349
)
Commodity contracts - (2) - (48) (50)
Equity contracts 386 (375) 1 6 18
Foreign exchange contracts 2 (3) - 6 5
Credit contracts (6) 3 - 813 810
Other derivative contracts - - - - -
Total derivative contracts 393 (377) 1 (6,583) (6,566)
Other assets 19 (8) - (72) (61)
Short sale liabilities 9 (9) - - -
Other liabilities (excluding derivatives) (3) 11 (216) 246 38
208