eTrade 2011 Annual Report Download - page 126
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Other-Than-Temporary Impairment of Investments
The following tables show the fair value and unrealized or unrecognized losses on available-for-sale and
held-to-maturity securities, aggregated by investment category, and the length of time that individual securities
have been in a continuous unrealized or unrecognized loss position (dollars in thousands):
Less than 12 Months 12 Months or More Total
Fair Value
Unrealized /
Unrecognized
Losses Fair Value
Unrealized /
Unrecognized
Losses Fair Value
Unrealized /
Unrecognized
Losses
December 31, 2011:
Available-for-sale securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and
CMOs $1,314,331 $ (4,014) $ 647,144 $ (5,949) $1,961,475 $ (9,963)
Non-agency CMOs 4,336 (355) 321,932 (83,991) 326,268 (84,346)
Investment securities:
Agency debentures 731,280 (11,966) — — 731,280 (11,966)
Other agency debt securities 37,296 (498) — — 37,296 (498)
Municipal bonds — — 20,598 (1,517) 20,598 (1,517)
Corporate bonds — — 17,685 (7,672) 17,685 (7,672)
Total temporarily impaired
available-for-sale securities $2,087,243 $ (16,833) $1,007,359 $ (99,129) $3,094,602 $(115,962)
Held-to-maturity securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and
CMOs $ 343,340 $ (1,192) $ 42,445 $ (353) $ 385,785 $ (1,545)
Total temporarily impaired held-to-maturity
securities $ 343,340 $ (1,192) $ 42,445 $ (353) $ 385,785 $ (1,545)
December 31, 2010:
Available-for-sale securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and
CMOs $8,204,906 $(188,159) $ 165,478 $ (2,815) $8,370,384 $(190,974)
Non-agency CMOs — — 377,309 (97,746) 377,309 (97,746)
Investment securities:
Agency debentures 877,135 (58,382) — — 877,135 (58,382)
Other agency debt securities 105,113 (3,040) — — 105,113 (3,040)
Municipal bonds 17,937 (2,193) 19,394 (2,875) 37,331 (5,068)
Corporate bonds — — 17,829 (7,527) 17,829 (7,527)
Total temporarily impaired
available-for-sale securities $9,205,091 $(251,774) $ 580,010 $(110,963) $9,785,101 $(362,737)
Held-to-maturity securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and
CMOs $1,283,817 $ (36,348) $ — $ — $1,283,817 $ (36,348)
Investment securities:
Agency debentures 216,172 (3,025) — — 216,172 (3,025)
Other agency debt securities 309,113 (5,749) — — 309,113 (5,749)
Total temporarily impaired held-to-maturity
securities $1,809,102 $ (45,122) $ — $ — $1,809,102 $ (45,122)
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