Other assets (Tables)

3 Months Ended

Mar. 31, 2012


Other assets	March 31,		Dec. 31,
(in millions)	2012		2011
Corporate/bank owned life insurance	$	4,230	$	4,216
Accounts receivable		3,801		4,208
Equity in joint ventures and other investments (a)		2,774		2,677
Income taxes receivable		2,714		2,573
Fails to deliver		1,157		961
Software		1,019		986
Fair value of hedging derivatives		1,035		1,600
Prepaid expenses		624		784
Due from customers on acceptances		300		321
Prepaid pension assets		160		144
Other		1,619		1,369
Total other assets	$	19,433	$	19,839

(a)

Includes Federal Reserve Bank stock of $432 million and $429 million, respectively, at cost.

Seed Capital and Private Equity Investments Valued Using NAV

The table below presents information about BNY Mellon’s investments in seed capital and private equity investments.

Seed capital and private equity investments valued using NAV – March 31,
2012

(dollar amounts
in millions)

Fair
Value

Unfunded
commitments

Redemption
frequency

Redemption
notice
period

Hedge funds (a)

Monthly-quarterly

3-45 days

Private equity funds (b)

121

N/A

Other funds (c)

Monthly-yearly

(c)

Total

213

(a)

Hedge funds include multi-strategy funds that utilize a variety of investment strategies and equity long-short hedge funds that include various funds that invest over both long-term investment and short-term investment horizons.

(b)

Private equity funds primarily include numerous venture capital funds that invest in various sectors of the economy. Private equity funds do not have redemption rights. Distributions from such funds will be received as the underlying investments in the funds are liquidated.

(c)

Other funds include various market neutral, leveraged loans, real estate and structured credit funds. Redemption notice periods vary by fund.

N/A – Not applicable.

- Definition

Tabular disclosure of the fair value of investees that calculate net asset value per share (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments), whether measured at fair value on a recurring or nonrecurring basis, by major category of assets and liabilities (as defined), including, for example, (i) fair value measurements at the reporting date, (ii) the level within the fair value hierarchy in which the fair value measurements fall, (iii) a reconciliation of beginning and ending balances for those alternative investments that are measured at fair value using unobservable inputs (Level 3 - fair value hierarchy fair value measurement inputs), (iv) the inputs and valuation techniques used to measure fair value, (v) a discussion of changes to valuation techniques and inputs, if any, during the period, (vi) a description of the nature and risk associated with the alternative investments, and (vii) a discussion of the probability that any of the alternative investments are to be sold.

+ References+ Details