Other Assets (Tables)

9 Months Ended

Sep. 30, 2014



Other assets	Sept. 30,		Dec. 31,
(in millions)	2014		2013
Corporate/bank owned life insurance	$	4,558	$	4,482
Accounts receivable	4,032		3,616
Fails to deliver	3,311		864
Equity in joint venture and other investments (a)	2,792		3,220
Income taxes receivable	1,516		2,499
Software	1,326		1,251
Prepaid pension assets	1,299		1,209
Fair value of hedging derivatives	777		1,282
Prepaid expenses	401		451
Due from customers on acceptances	54		379
Other	1,457		1,313
Total other assets	$	21,523	$	20,566


(a)	Includes Federal Reserve Bank stock of $446 million and $441 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 that have been valued using NAV.



Seed capital and private equity investments valued using NAV
	Sept. 30, 2014							Dec. 31, 2013
(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)	$	335		$	—	Daily-quarterly	0-180 days	$	275		$	23	Monthly-yearly	3-45 days
Private equity investments (b)(c)	31			52		N/A	N/A	86			31		N/A	N/A
Total	$	366		$	52			$	361		$	54


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


(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)	Includes investments and unfunded commitments related to SBICs of $16 million and $48 million, respectively, at Sept. 30, 2014 and $7 million and $20 million, respectively, at Dec. 31, 2013.

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