Other assets (Tables)

6 Months Ended

Jun. 30, 2012


Other assets	June 30,		Dec. 31,
(in millions)	2012		2011
Accounts receivable	$	4,286	$	4,208
Corporate/bank owned life insurance		4,260		4,216
Equity in joint ventures and other investments (a)		2,748		2,677
Income taxes receivable		2,681		2,573
Fails to deliver		1,277		961
Fair value of hedging derivatives		1,232		1,600
Software		1,046		986
Prepaid expenses		605		784
Due from customers on acceptances		355		321
Prepaid pension assets		176		144
Other		1,089		1,369
Total other assets	$	19,755	$	19,839

(a)

Includes Federal Reserve Bank stock of $434 million and $429 million, respectively, at cost.

Seed Capital and Private Equity Investments Valued Using Net Asset Value

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


	June 30, 2012									Dec. 31, 2011
(dollar amounts in millions)	Fair value		Unfunded commitments		Redemption Frequency		Redemption notice Period			Fair Value		Unfunded commitments		Redemption frequency		Redemption notice period
Hedge funds (a)	$	16	$	-		Monthly-quarterly		3-45 days		$	9	$	-		Monthly-quarterly		3-45 days
Private equity funds (b)		107		22		N/A		N/A			122		24		N/A		N/A
Other funds (c)		115		18		Monthly-yearly		(c	)		63		-		Monthly-yearly		(c	)
Total	$	238	$	40						$	194	$	24

(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.

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