Wells Fargo 2012 Annual Report Download - page 212

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Note 17: Fair Values of Assets and Liabilities (continued)
(continued from previous page)
The following table presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities
measured at fair value on a recurring basis for the year ended December 31, 2011.
(in millions) Purchases Sales Issuances Settlements Net
Year ended December 31, 2011
Trading assets
(
excludin
g
derivatives
)
:
Securities of U.S. states and
political subdivisions $ 313 (199) - (102) 12
Collateralized debt obligations 1,054 (1,310) - (41) (297)
Corporate debt securities 80 (150) - - (70)
Mortgage-backed securities 759 (790) - (5) (36)
Asset-backed securities 516 (585) - (53) (122)
Equity securities 6 (22) - (12) (28)
Total trading securities 2,728 (3,056) - (213) (541)
Other trading assets - - 2 - 2
Total trading assets
(excluding derivatives) 2,728 (3,056) 2 (213) (539)
Securities available for sale:
Securities of U.S. states and
political subdivisions 4,280 (4) 4,723 (2,076) 6,923
Mortgage-backed securities:
Residential 3 - - (9) (6)
Commercial 21 - - (19) 2
Total mortgage-backed
securities 24 - - (28) (4)
Corporate debt securities 94 (208) 1 (72) (185)
Collateralized debt obligations 4,805 (36) - (1,044) 3,725
Asset-backed securities:
Auto loans and leases 5,918 - 333
(
5,720
)
531
Home equity loans 44 - - (4) 40
Other asset-backed securities 1,428 (456) 1,395 (2,186) 181
Total asset-backed securities 7,390 (456) 1,728 (7,910) 752
Other debt securities - (85) - - (85)
Total debt securities 16,593 (789) 6,452 (11,130) 11,126
Marketable equity securities:
Perpetual preferred securities 1 (13) - (1,231) (1,243)
Other marketable equity securities 3 (12) - (1) (10)
Total marketable
equity securities 4 (25) - (1,232) (1,253)
Total securities
available for sale 16,597 (814) 6,452 (12,362) 9,873
Mortgages held for sale 576 (21) - (659) (104)
Loans 23 (309) - (13) (299)
Mortgage servicing rights - - 4,011 (54) 3,957
Net derivative assets and liabilities:
Interest rate contracts 6 (1) - (3,419) (3,414)
Commodity contracts 7 (17) - 1 (9)
Equity contracts 123 (255) - 160 28
Foreign exchange contracts 4 (4) - (6) (6)
Credit contracts 6 (3) - (126) (123)
Other derivative contracts - - - - -
Total derivative contracts 146 (280) - (3,390) (3,524)
Other assets 10 (1) - (91) (82)
Short sale liabilities (125) 124 - 1 -
Other liabilities (excluding derivatives) (10) 1 - 317 308
210