Other Assets (Tables)

3 Months Ended

Mar. 31, 2013



Other assets	March 31,		Dec. 31,
(in millions)	2013		2012
Accounts receivable	$	4,514	$	4,255
Corporate/bank owned life insurance	4,376		4,360
Income taxes receivable	3,049		3,099
Equity in joint ventures and other investments (a)	2,784		2,664
Fails to deliver	2,124		1,148
Fair value of hedging derivatives	1,135		989
Software	1,130		1,117
Prepaid expenses	575		508
Prepaid pension assets	436		419
Due from customers on acceptances	421		376
Other	1,160		1,533
Total other assets	$	21,704	$	20,468


(a)	Includes Federal Reserve Bank stock of $436 million and $436 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
	March 31, 2013						Dec. 31, 2012
(dollar amounts in millions)	Fair value		Unfunded commitments		Redemption frequency	Redemption notice period	Fair value		Unfunded commitments		Redemption frequency	Redemption notice period
Private equity funds (a)	$	88	$	12	N/A	N/A	$	99	$	13	N/A	N/A
Other funds (b)	168		29		Monthly-yearly	3-45 days	153		31		Monthly-yearly	3-45 days
Total	$	256	$	41			$	252	$	44


(a)	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.


(b)	Other funds include various market neutral, leveraged loans, hedge funds, 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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