Fifth Third Bank 2012 Annual Report Download - page 67

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
65 Fifth Third Bancorp
The following tables provide analysis of the Bancorp’s automobile loans with a LTV at origination greater than 100% as of December 31, 2012
and 2011, respectively:
TABLE 45: AUTOMOBILE LOANS OUTSTANDING WITH LTV GREATER THAN 100%
A
s of December 31, 2012 ($ in millions)
For the Year Ended
December 31, 2012
90 Days
Net Charge-offs By State: Outstanding Past Due Nonaccrual
Ohio $ 409 - - 2
Illinois 232 - - 2
Michigan 221 - - 2
Indiana 158 - - 1
Florida 194 - - 1
Kentucky 141 - - 1
A
ll other states 2,494 4 2 15
Total $ 3,849 4 2 24
TABLE 46: AUTOMOBILE LOANS OUTSTANDING WITH LTV GREATER THAN 100%
A
s of December 31, 2011 ($ in millions)
For the Year Ended
December 31, 2011
90 Days
Net Charge-offs By State: Outstanding Past Due Nonaccrual
Ohio $ 425 1 - 3
Illinois 291 - - 3
Michigan 245 - - 2
Indiana 181 - - 2
Florida 192 - - 3
Kentucky 158 - - 1
A
ll other states 2,530 3 2 20
Total $ 4,022 4 2 34
European Exposure
The Bancorp has no direct sovereign exposure to any European
nation as of December 31, 2012. In providing services to our
customers, the Bancorp routinely enters into financial transactions
with foreign domiciled and U.S. subsidiaries of foreign businesses as
well as foreign financial institutions. These financial transactions are
in the form of loans, loan commitments, letters of credit, derivatives
and securities. The Bancorp’s risk appetite for foreign country
exposure is managed by having established country exposure limits.
The Bancorp’s total exposure to European domiciled or owned
businesses and European financial institutions was $2.6 billion and
funded exposure was $1.5 billion as of December 31, 2012.
Additionally, the Bancorp was within its established country
exposure limits for all European countries.
Certain European countries have been experiencing increased
levels of stress throughout 2012 including Greece, Ireland, Italy,
Portugal and Spain. The Bancorp’s total exposure to businesses
domiciled or owned by companies and financial institutions in these
countries was approximately $210 million and funded exposure was
$115 million as of December 31, 2012.
The following table provides detail about the Bancorp’s exposure to all European domiciled and owned businesses and financial institutions as o
f
December 31, 2012:
TABLE 47: EUROPEAN EXPOSURE
Sovereigns Financial Institutions
Non-Financial
Institutions Total
Total Funded Total Funded Total Funded Total Funded
($ in millions) Exposure Exposure Exposure Exposure Exposure Exposure Exposure(a) Exposure
Peripheral Europe(b) $ - - 26 - 184 115 210 115
Other Eurozone(c) - - 50 46 1,463 846 1,513 892
Total Eurozone - - 76 46 1,647 961 1,723 1,007
Other Europe(d) - - 62 32 821 485 883 517
Total Europe $ - - 138 78 2,468 1,446 2,606 1,524
(a) Total exposure includes funded exposure and unfunded commitments, reported net of collateral.
(b) Peripheral Europe includes Greece, Ireland, Italy, Portugal and Spain.
(c) Eurozone includes countries participating in the European common currency (Euro).
(d) Other Europe includes European countries not part of the Euro (primarily the United Kingdom and Switzerland).
Analysis of Nonperforming Assets
Nonperforming assets include nonaccrual loans and leases for
which ultimate collectability of the full amount of the principal
and/or interest is uncertain; restructured commercial and credit card
loans which have not yet met the requirements to be classified as a
performing asset; restructured consumer loans which are 90 days
past due based on the restructured terms unless the loan is both
well-secured and in the process of collection; and certain other