Quarterly report pursuant to Section 13 or 15(d)

Investment Securities (Tables)

v2.4.0.6
Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2012
Investments, Debt and Equity Securities [Abstract]  
Investment
Investment securities reported on the Condensed Consolidated Balance Sheets at September 30, 2012 and December 31, 2011 are presented below.
(dollars in millions)
 
September 30, 2012
 
 
December 31, 2011
Investment securities
 

 
 
 

Available-for-sale
$
822

 
 
$
694

Non-qualifying
 

 
 
 

       Equity investments
3,110

 
 
3,810

       Other investments
2,457

 
 
2,180

Total
$
6,389

 
 
$
6,684

 
 
 
 
 

Available-for-sale Securities
Information regarding investment securities subject to Investment Accounting follows.
(dollars in millions)
 
September 30, 2012
 
Amortized
Cost
 
Fair
Value
Available-for-Sale
 
 
 
Securities, mortgage-backed and asset-backed:
 
 
 
Corporate ABS
$
371

 
$
372

Non-agency mortgage backed securities
45

 
45

Subtotal
416

 
417

U.S. Government and agencies
405

 
405

Total available-for-sale securities
$
821

 
$
822

 
 
 
 

(dollars in millions)
 
December 31, 2011
 
Amortized
Cost
 
Fair
Value
Available-for-Sale
 

 
 

Securities, mortgage-backed and asset-backed:
 

 
 

Corporate ABS
$
47

 
$
47

Non-agency mortgage backed securities
249

 
249

Subtotal
296

 
296

U.S. Government and agencies
398

 
398

Total available-for-sale securities
$
694

 
$
694

 
 
 
 
Investments Classified by Contractual Maturity Date
The amortized cost and fair value of available-for-sale debt securities by expected maturity for mortgage-backed securities and contractual maturity for other debt securities at September 30, 2012 are as follows:
 
 
Available-for-Sale
 
 
Amortized
Cost
 
Fair
Value
 
Due in one year or less
$
413

 
$
413

 
Due after one year through five years
302

 
303

 
Due after five years through ten years
106

 
106

 
Total(1)
$
821

 
$
822

 
 
 
 
 
 
(1)
Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay their obligations with or without prepayment penalties.
Realized Gain (Loss) on Investments
The proceeds and gross realized gains (losses) from the sale of available-for-sale securities during the three and nine months ended September 30, 2012 and September 30, 2011 are as follows:
(dollars in millions)
 
 
Three Months Ended September 30, 2012
 
Nine Months Ended September 30, 2012
 
Three Months Ended September 30, 2011
 
Nine Months Ended September 30, 2011
Proceeds
$
19

 
$
22

 
$
423

 
$
3,876

Gross realized gains
5

 
5

 
2

 
46

Gross realized losses
—

 
—

 
—

 
(4
)