Securitizations and Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2013

Variable Interest Entity [Line Items]

Incremental Assets and Liabilities of Variable Interest Entities Included in Consolidated Financial Statements

The following tables present the incremental assets and liabilities included in BNY Mellon’s consolidated financial statements, after applying intercompany eliminations, as of March 31, 2013 and Dec. 31, 2012, based on the assessments performed in accordance with ASC 810 and ASU 2009-17. The net assets of any consolidated VIE are solely available to settle the liabilities of the VIE and to settle any investors’ ownership liquidation requests, including any seed capital invested in the VIE by BNY Mellon.



Investments consolidated under ASC 810 and ASU 2009-17 at March 31, 2013
(in millions)	Investment Management funds		Securitizations		Total consolidated investments
Available-for-sale	$	—	$	500	$	500
Trading assets	10,400		—		10,400
Other assets	836		—		836
Total assets	$	11,236	$	500	$	11,736
Trading liabilities	9,908		—		9,908
Other liabilities	34		458		492
Total liabilities	$	9,942	$	458	$	10,400
Non-redeemable noncontrolling interests	$	806	$	—	$	806



Investments consolidated under ASC 810 and ASU 2009-17 at Dec. 31, 2012
(in millions)	Investment Management funds		Securitizations		Total consolidated investments
Available-for-sale	$	—	$	499	$	499
Trading assets	10,961		—		10,961
Other assets	520		—		520
Total assets	$	11,481	$	499	$	11,980
Trading liabilities	10,152		—		10,152
Other liabilities	29		461		490
Total liabilities	$	10,181	$	461	$	10,642
Non-redeemable noncontrolling interests	$	833	$	—	$	833

Variable Interest Entity, Not Primary Beneficiary

Variable Interest Entity [Line Items]

Schedule of Variable Interest Entities

As of March 31, 2013 and Dec. 31, 2012, the following assets related to the VIEs, where BNY Mellon is not the primary beneficiary, are included in our consolidated financial statements.



Non-consolidated VIEs at March 31, 2013					Maximum loss exposure
(in millions)	Assets		Liabilities		Maximum loss exposure
Other	$	116	$	—	$	116



Non-consolidated VIEs at Dec. 31, 2012					Maximum loss exposure
(in millions)	Assets		Liabilities		Maximum loss exposure
Other	$	100	$	—	$	100

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

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+ Details