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Other assets (Tables)
6 Months Ended
Jun. 30, 2017
Other Assets [Abstract]  
Other Assets
The following table provides the components of other assets presented on the balance sheet.

Other assets
June 30, 2017

Dec. 31, 2016

(in millions)
Accounts receivable
$
6,707

$
4,060

Corporate/bank-owned life insurance
4,804

4,789

Fails to deliver
3,547

1,732

Software
1,480

1,451

Renewable energy investments
1,245

1,282

Income taxes receivable
1,081

1,172

Equity in a joint venture and other investments
1,066

1,063

Qualified affordable housing project investments

982

914

Prepaid pension assets
913

836

Prepaid expenses
550

438

Federal Reserve Bank stock
472

466

Fair value of hedging derivatives
423

784

Seed capital
315

395

Due from customers on acceptances
276

340

Private equity
47

43

Other (a)
1,092

1,189

Total other assets
$
25,000

$
20,954


(a)
At June 30, 2017, other assets include $8 million of Federal Home Loan Bank stock, 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 that have been valued using NAV.
Seed capital and private equity investments valued using NAV
 
June 30, 2017
 
Dec. 31, 2016
(dollar amounts in millions)
Fair
value

Unfunded 
commitments
 
Redemption 
frequency
Redemption 
notice period
 
Fair
value

Unfunded
commitments
 
Redemption 
frequency
Redemption 
notice period
Seed capital and other funds (a)
$
114

 
$
14

Daily-quarterly
1-95 days
 
$
171

 
$
1

Daily-quarterly
1-180 days
Private equity investments (SBICs) (b)
47

 
44

N/A
N/A
 
43

 
46

N/A
N/A
Total
$
161

 
$
58

 
 
 
$
214

 
$
47

 
 

(a)
Other funds include various hedge funds, leveraged loans and structured credit funds. Redemption notice periods vary by fund.
(b)
Private equity investments primarily include Volcker Rule-compliant investments in SBICs that invest in various sectors of the economy. Private equity investments do not have redemption rights. Distributions from such investments will be received as the underlying investments in the private equity investments are liquidated.