Loan Sale and Servicing Activities and Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2013

Loan Sale and Servicing Activities and Variable Interest Entities [Abstract]

Certain Financial Information and Cash Flows Associated with Loan Sale and Servicing Activities

Table 59: Certain Financial Information and Cash Flows Associated with Loan Sale and Servicing Activities
	Residential			Commercial		Home Equity
In millions	Mortgages			Mortgages (a)		Loans/Lines (b)
FINANCIAL INFORMATION - June 30, 2013
Servicing portfolio (c)		$	115,740	$	166,356	$	5,176
Carrying value of servicing assets (d)			975		525
Servicing advances (e)			558		502		5
Repurchase and recourse obligations (f)			523		37		24
Carrying value of mortgage-backed securities held (g)			4,503		1,528
FINANCIAL INFORMATION - December 31, 2012
Servicing portfolio (c)		$	119,262	$	153,193	$	5,353
Carrying value of servicing assets (d)			650		420
Servicing advances (e)			582		505		5
Repurchase and recourse obligations (f)			614		43		58
Carrying value of mortgage-backed securities held (g)			5,445		1,533

		Residential			Commercial		Home Equity
In millions		Mortgages			Mortgages (a)		Loans/Lines (b)
CASH FLOWS - Three months ended June 30, 2013
Sales of loans (h)			$	4,190	$	489
Repurchases of previously transferred loans (i)				278			$	2
Servicing fees (j)				89		43		5
Servicing advances recovered/(funded), net				30		8		(1)
Cash flows on mortgage-backed securities held (g)				389		70
CASH FLOWS - Three months ended June 30, 2012
Sales of loans (h)			$	2,939	$	468
Repurchases of previously transferred loans (i)				358			$	6
Servicing fees (j)				95		46		6
Servicing advances recovered/(funded), net				20		13
Cash flows on mortgage-backed securities held (g)				283		223
CASH FLOWS - Six months ended June 30, 2013
Sales of loans (h)			$	7,994	$	1,415
Repurchases of previously transferred loans (i)				650			$	4
Servicing fees (j)				179		89		11
Servicing advances recovered/(funded), net				24		3		(1)
Cash flows on mortgage-backed securities held (g)				756		193
CASH FLOWS - Six months ended June 30, 2012
Sales of loans (h)			$	6,448	$	949
Repurchases of previously transferred loans (i)				769			$	16
Servicing fees (j)				194		91		11
Servicing advances recovered/(funded), net				(1)		21
Cash flows on mortgage-backed securities held (g)				539		352
(a)	Represents financial and cash flow information associated with both commercial mortgage loan transfer and servicing activities.
(b)	These activities were part of an acquired brokered home equity lending business in which PNC is no longer engaged. See Note 18 Commitments and Guarantees for further information.
(c)	For our continuing involvement with residential mortgage and home equity loan/line transfers, amount represents outstanding balance of loans transferred and serviced. For commercial mortgages, amount represents overall servicing portfolio in which loans have been transferred by us or third parties to VIEs.
(d)	See Note 9 Fair Value and Note 10 Goodwill and Other Intangible Assets for further information.
(e)	Pursuant to certain contractual servicing agreements, represents outstanding balance of funds advanced (i) to investors for monthly collections of borrower principal and interest, (ii) for borrower draws on unused home equity lines of credit, and (iii) for collateral protection associated with the underlying mortgage collateral.
(f)	Represents liability for our loss exposure associated with loan repurchases for breaches of representations and warranties for our Residential Mortgage Banking and Non-Strategic Assets Portfolio segments, and our commercial mortgage loss share arrangements for our Corporate & Institutional Banking segment. See Note 18 Commitments and Guarantees for further information.
(g)	Represents securities held where PNC transferred to and/or services loans for a securitization SPE and we hold securities issued by that SPE.
(h)	There were no gains or losses recognized on the transaction date for sales of residential mortgage loans as these loans are recognized on the balance sheet at fair value. For transfers of commercial mortgage loans not recognized on the balance sheet at fair value, gains/losses recognized on sales of these loans were $20 million and $18 million for the three months ended June 30, 2013 and June 30, 2012, respectively, and $43 million and $15 million for the six months ended June 30, 2013 and June 30, 2012, respectively.
(i)	Includes government insured or guaranteed loans repurchased through the exercise of our ROAP option and loans repurchased due to breaches of origination covenants or representations and warranties made to purchasers.
(j)	Includes contractually specified servicing fees, late charges and ancillary fees.

Consolidated VIEs - Carrying Value

Table 60: Consolidated VIEs – Carrying Value (a) (b)
June 30, 2013						Credit Card and Other			Tax Credit
In millions			Market Street			Securitization Trusts (c)			Investments			Total
Assets
Cash and due from banks										$	4		$	4
Interest-earning deposits with banks											6			6
Investment securities				$	7									7
Loans					6,116		$	1,729						7,845
Allowance for loan and lease losses								(64)						(64)
Equity investments											492			492
Other assets (d)					6			27			534			567
	Total assets			$	6,129		$	1,692		$	1,036		$	8,857
Liabilities
Commercial paper				$	5,900								$	5,900
Other borrowed funds							$	195		$	239			434
Accrued expenses											120			120
Other liabilities					223						155			378
	Total liabilities			$	6,123		$	195		$	514		$	6,832
December 31, 2012						Credit Card			Tax Credit
In millions			Market Street			Securitization Trust (e)			Investments			Total
Assets
Cash and due from banks										$	4		$	4
Interest-earning deposits with banks											6			6
Investment securities				$	9									9
Loans					6,038		$	1,743						7,781
Allowance for loan and lease losses								(75)						(75)
Equity investments											1,429			1,429
Other assets					536			31			714			1,281
	Total assets			$	6,583		$	1,699		$	2,153		$	10,435
Liabilities
Commercial paper				$	6,045								$	6,045
Other borrowed funds										$	257			257
Accrued expenses											132			132
Other liabilities					529						447			976
	Total liabilities			$	6,574					$	836		$	7,410
(a)		Amounts represent carrying value on PNC’s Consolidated Balance Sheet.
(b)		Difference between total assets and total liabilities represents the equity portion of the VIE or intercompany assets and liabilities which are eliminated in consolidation.
(c)		During the first quarter of 2013, PNC consolidated a Non-agency securitization trust due to modification of contractual provisions.
(d)		During the second quarter of 2013, certain Market Street amounts previously classified in “Other assets” were reclassified to “Loans”.
(e)		During the first quarter of 2012, the last securitization series issued by the SPE matured, resulting in the zero balance of liabilities at December 31, 2012.

Assets and Liabilitis of Consolidated VIEs

Table 61: Assets and Liabilities of Consolidated VIEs (a)
		Aggregate			Aggregate
In millions		Assets			Liabilities
June 30, 2013
Market Street			$	7,322		$	7,322
Credit Card and Other Securitization Trusts				1,978			195
Tax Credit Investments				1,045			544
December 31, 2012
Market Street			$	7,796		$	7,796
Credit Card Securitization Trust				1,782
Tax Credit Investments				2,162			853
(a)	Amounts in this table differ from total assets and liabilities in the preceding "Consolidated VIEs - Carrying Value" table due to the elimination of intercompany
	assets and liabilities in the preceding table.

Non-Consolidated VIEs

Table 62: Non-Consolidated VIEs
									Carrying			Carrying
		Aggregate			Aggregate		PNC Risk		Value of			Value of
In millions		Assets			Liabilities		of Loss		Assets			Liabilities
June 30, 2013
Commercial Mortgage-Backed Securitizations (a)			$	71,374	$	71,374	$	1,836	$	1,836	(c)
Residential Mortgage-Backed Securitizations (a)				35,798		35,798		4,516		4,516	(c)	$	7	(e)
Tax Credit Investments and Other (b)				6,564		2,093		1,405		1,405	(d)		644	(e)
	Total		$	113,736	$	109,265	$	7,757	$	7,757		$	651
									Carrying			Carrying
		Aggregate			Aggregate		PNC Risk		Value of			Value of
In millions		Assets			Liabilities		of Loss		Assets			Liabilities
December 31, 2012
Commercial Mortgage-Backed Securitizations (a)			$	72,370	$	72,370	$	1,829	$	1,829	(c)
Residential Mortgage-Backed Securitizations (a)				42,719		42,719		5,456		5,456	(c)	$	90	(e)
Tax Credit Investments and Other (b)				5,960		2,101		1,283		1,283	(d)		623	(e)
	Total		$	121,049	$	117,190	$	8,568	$	8,568		$	713
(a)	Amounts reflect involvement with securitization SPEs where PNC transferred to and/or services loans for an SPE and we hold securities issued by that SPE. Asset amounts equal outstanding liability amounts of the SPEs due to limited availability of SPE financial information. We also invest in other mortgage and asset-backed securities issued by third-party VIEs with which we have no continuing involvement. Further information on these securities is included in Note 8 Investment Securities and values disclosed represent our maximum exposure to loss for those securities’ holdings.
(b)	Aggregate assets and aggregate liabilities are based on limited availability of financial information associated with certain acquired partnerships.
(c)	Included in Trading securities, Investment securities, Other intangible assets, and Other assets on our Consolidated Balance Sheet.
(d)	Included in Equity investments on our Consolidated Balance Sheet.
(e)	Included in Other liabilities on our Consolidated Balance Sheet.