JP Morgan Chase 2015 Annual Report Download - page 244

Notes to consolidated financial statements
234 JPMorgan Chase & Co./2015 Annual Report
The amortized costs and estimated fair values of the investment securities portfolio were as follows for the dates indicated.
2015 2014
December 31, (in millions)
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
value
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
value
Available-for-sale debt securities
Mortgage-backed securities:
U.S. government agencies(a) $ 53,689 $ 1,483 $ 106 $ 55,066 $ 63,089 $ 2,302 $ 72 $ 65,319
Residential:
Prime and Alt-A 7,462 40 57 7,445 5,595 78 29 5,644
Subprime 210 7 — 217 677 14 — 691
Non-U.S. 19,629 341 13 19,957 43,550 1,010 — 44,560
Commercial 22,990 150 243 22,897 20,687 438 17 21,108
Total mortgage-backed securities 103,980 2,021 419 105,582 133,598 3,842 118 137,322
U.S. Treasury and government agencies(a) 11,202 — 166 11,036 13,603 56 14 13,645
Obligations of U.S. states and municipalities 31,328 2,245 23 33,550 27,841 2,243 16 30,068
Certificates of deposit 282 1 — 283 1,103 1 1 1,103
Non-U.S. government debt securities 35,864 853 41 36,676 51,492 1,272 21 52,743
Corporate debt securities 12,464 142 170 12,436 18,158 398 24 18,532
Asset-backed securities:
Collateralized loan obligations 31,146 52 191 31,007 30,229 147 182 30,194
Other 9,125 72 100 9,097 12,442 184 11 12,615
Total available-for-sale debt securities 235,391 5,386 1,110 239,667 288,466 8,143 387 296,222
Available-for-sale equity securities 2,067 20 — 2,087 2,513 17 — 2,530
Total available-for-sale securities 237,458 5,406 1,110 241,754 290,979 8,160 387 298,752
Total held-to-maturity securities(b) $ 49,073 $ 1,560 $ 46 $ 50,587 $ 49,252 $ 1,902 $ — $ 51,154
(a) Includes total U.S. government-sponsored enterprise obligations with fair values of $42.3 billion and $59.3 billion at December 31, 2015 and 2014, respectively,
which were predominantly mortgage-related.
(b) As of December 31, 2015, consists of mortgage backed securities (“MBS”) issued by U.S. government-sponsored enterprises with an amortized cost of $30.8 billion,
MBS issued by U.S. government agencies with an amortized cost of $5.5 billion and obligations of U.S. states and municipalities with an amortized cost of $12.8
billion. As of December 31, 2014, consists of MBS issued by U.S. government-sponsored enterprises with an amortized cost of $35.3 billion, MBS issued by U.S.
government agencies with an amortized cost of $3.7 billion and obligations of U.S. states and municipalities with an amortized cost of $10.2 billion.