Comerica 2012 Annual Report Download - page 109

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
F-75
The following table summarizes auction-rate securities activity for the years ended December 31, 2012 and 2011.
(in millions) Par Value Fair Value (a)
Balance at January 1, 2011 $ 677 $ 610
Redemptions (201) (201)
Net securities gains 10
Net unrealized gains (b) 14
Balance at December 31, 2011 $ 476 $ 433
Redemptions (276)(276)
Net securities gains 14
Net unrealized gains (b) 9
Balance at December 31, 2012 $ 200 $ 180
(a) Recorded in "investment securities available-for-sale" on the consolidated balance sheets.
(b) Changes in fair value recognized in accumulated other comprehensive income (loss).
NOTE 4 – CREDIT QUALITY AND ALLOWANCE FOR CREDIT LOSSES
The following table summarizes nonperforming assets.
(in millions)
December 31 2012 2011
Nonaccrual loans $ 519 $ 860
Reduced-rate loans (a) 22 27
Total nonperforming loans 541 887
Foreclosed property 54 94
Total nonperforming assets $ 595 $ 981
(a) Reduced-rate business loans totaled $6 million and $8 million, respectively, and reduced-rate retail loans totaled $16 million and $19
million, respectively, at December 31, 2012 and 2011.