Discover 2015 Annual Report Download - page 118
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-102-
Maturities and weighted-average yields of available-for-sale debt securities and held-to-maturity debt securities
are provided in the tables below (dollars in millions):
One Year
or
Less
After One
Year
Through
Five Years
After Five
Years
Through
Ten Years After Ten
Years Total
At December 31, 2015
Available-for-Sale—Amortized Cost
U.S. Treasury securities ................................................... $ 600 $ 677 $ — $ — $ 1,277
U.S. government agency securities ................................... 492 — — — 492
Residential mortgage-backed securities - Agency .............. — — 383 812 1,195
Total available-for-sale investment securities ................. $1,092 $ 677 $ 383 $ 812 $ 2,964
Held-to-Maturity—Amortized Cost
U.S. Treasury securities ................................................... $ 1 $ — $ — $ — $ 1
State and political subdivisions of states ........................... — — — 7 7
Residential mortgage-backed securities - Agency .............. — — — 113 113
Total held-to-maturity investment securities .................... $ 1 $ — $ — $ 120 $ 121
Available-for-Sale—Fair Values
U.S. Treasury securities ................................................... $ 602 $ 670 $ — $ — $ 1,272
U.S. government agency securities ................................... 494 — — — 494
Residential mortgage-backed securities - Agency .............. — — 383 814 1,197
Total available-for-sale investment securities ................. $1,096 $ 670 $ 383 $ 814 $ 2,963
Held-to-Maturity—Fair Values
U.S. Treasury securities ................................................... $ 1 $ — $ — $ — $ 1
State and political subdivisions of states ........................... — — — 7 7
Residential mortgage-backed securities - Agency .............. — — — 114 114
Total held-to-maturity investment securities .................... $ 1 $ — $ — $ 121 $ 122
One Year
or
Less
After One
Year
Through
Five Years
After Five
Years
Through
Ten Years After Ten
Years Total
At December 31, 2015
Available-for-Sale—Weighted-Average Yields(1)
U.S Treasury securities .................................................... 1.37% 0.91% —% —%1.13%
U.S government agency securities .................................... 1.53% —% —% —%1.53%
Residential mortgage-backed securities - Agency .............. —% —% 1.54% 2.06%1.89%
Total available-for-sale investment securities ................. 1.44% 0.91% 1.54% 2.06%1.50%
Held-to-Maturity—Weighted-Average Yields
U.S. Treasury securities ................................................... 0.29% —% —% —%0.29%
State and political subdivisions of states ........................... —% —% —% 4.66%4.66%
Residential mortgage-backed securities ............................ —% —% —% 2.78%2.78%
Total held-to-maturity investment securities .................... 0.29% —% —% 2.89%2.88%
(1) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost.