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NOTE 6—AVAILABLE-FOR-SALE AND HELD-TO-MATURITY SECURITIES
The amortized cost basis and fair value of available-for-sale and held-to-maturity securities are shown in the
following tables (dollars in thousands):
Amortized
Cost
Gross
Unrealized /
Unrecognized
Gains
Gross
Unrealized /
Unrecognized
Losses Fair Value
December 31, 2010:
Available-for-sale securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and CMOs $13,017,814 $71,274 $(190,974) $12,898,114
Non-agency CMOs 490,250 2,885 (97,746) 395,389
Total residential mortgage-backed securities 13,508,064 74,159 (288,720) 13,293,503
Investment securities:
Debt securities:
Agency debentures 1,324,464 3,470 (58,382) 1,269,552
Other agency debt securities 187,622 2,880 (3,040) 187,462
Municipal bonds 42,399 — (5,068) 37,331
Corporate bonds 25,356 — (7,527) 17,829
Total investment securities 1,579,841 6,350 (74,017) 1,512,174
Total available-for-sale securities $15,087,905 $80,509 $(362,737) $14,805,677
Held-to-maturity securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and CMOs $ 1,928,651 $ 4,747 $ (36,348) $ 1,897,050
Investment securities:
Debt securities:
Agency debentures 219,197 — (3,025) 216,172
Other agency debt securities 314,862 — (5,749) 309,113
Total investment securities 534,059 — (8,774) 525,285
Total held-to-maturity securities $ 2,462,710 $ 4,747 $ (45,122) $ 2,422,335
December 31, 2009:
Available-for-sale securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and CMOs $ 8,945,396 $85,184 $ (63,704) $ 8,966,876
Non-agency CMOs 590,215 17 (215,069) 375,163
Total residential mortgage-backed securities 9,535,611 85,201 (278,773) 9,342,039
Investment securities:
Debt securities:
Agency debentures 3,928,927 5,883 (14,799) 3,920,011
Municipal bonds 42,474 — (3,484) 38,990
Corporate bonds 25,422 6 (7,605) 17,823
Total debt securities 3,996,823 5,889 (25,888) 3,976,824
Publicly traded equity securities:
Corporate investments 173 676 — 849
Total investment securities 3,996,996 6,565 (25,888) 3,977,673
Total available-for-sale securities $13,532,607 $91,766 $(304,661) $13,319,712
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