US Bank 2009 Annual Report Download - page 116
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The following table summarizes the balances of assets and liabilities measured at fair value on a recurring basis:
(Dollars in Millions) Level 1 Level 2 Level 3 Netting Total
December 31, 2009
Available-for-sale securities
U.S. Treasury and agencies. . . . . . . . . . . . . . . . . . . . . . . $ 9 $ 3,395 $ – $ – $ 3,404
Mortgage-backed securities
Residential
Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – $29,742 – – 29,742
Non-agency
Prime . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – – 1,429 – 1,429
Non-prime . . . . . . . . . . . . . . . . . . . . . . . . . . . – – 968 – 968
Commercial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – – 13 – 13
Asset-backed securities
Collateralized debt obligations/Collateralized loan
obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 107 98 – 205
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – – 357 – 357
Obligations of state and political subdivisions . . . . . . . . . – 6,693 – – 6,693
Obligations of foreign governments . . . . . . . . . . . . . . . . – 6 – – 6
Corporate debt securities . . . . . . . . . . . . . . . . . . . . . . – 868 10 – 878
Perpetual preferred securities . . . . . . . . . . . . . . . . . . . . – 423 – – 423
Other investments . . . . . . . . . . . . . . . . . . . . . . . . . . . 372 – 231 – 603
Total available-for-sale . . . . . . . . . . . . . . . . . . . 381 41,234 3,106 – 44,721
Mortgage loans held for sale . . . . . . . . . . . . . . . . . . . . . . . . – 4,327 – – 4,327
Mortgage servicing rights . . . . . . . . . . . . . . . . . . . . . . . . . . – – 1,749 – 1,749
Other assets (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 960 869 (421) 1,408
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $381 $46,521 $5,724 $ (421) $52,205
Other liabilities (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ – $ 2,056 $ 54 $ (995) $ 1,115
December 31, 2008
Available-for-sale securities. . . . . . . . . . . . . . . . . . . . . . . . . $474 $37,150 $1,844 $ – $39,468
Mortgage loans held for sale . . . . . . . . . . . . . . . . . . . . . . . . – 2,728 – – 2,728
Mortgage servicing rights . . . . . . . . . . . . . . . . . . . . . . . . . . – – 1,194 – 1,194
Other assets (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 814 1,744 (151) 2,407
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $474 $40,692 $4,782 $ (151) $45,797
Other liabilities (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ – $ 3,127 $ 46 $(1,251) $ 1,922
(a) Represents primarily derivatives and trading securities
114 U.S. BANCORP