Trading Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Fair Values of the Components of Trading Assets and Liabilities



(Dollars in millions)	2011		2010
Trading Assets
U.S. Treasury securities		$144		$187
Federal agency securities	478		361
U.S. states and political subdivisions	54		123
MBS - agency	412		301
MBS - private	1		15
CDO securities	45		55
ABS	37		59
Corporate and other debt securities	344		743
CP	229		14
Equity securities	91		221
Derivative contracts ¹	2,414		2,743
Trading loans ²	2,030		1,353
Total trading assets		$6,279		$6,175
Trading Liabilities
U.S. Treasury securities		$569		$439
Corporate and other debt securities	77		398
Equity securities	37		—
Derivative contracts ¹	1,123		1,841
Total trading liabilities		$1,806		$2,678

¹The current year amount is offset with cash collateral received from or deposited with derivative counterparties when the derivative contracts are subject to ISDA master netting arrangements, due to resolution during the year of certain operational limitations. This presentation is in accordance with applicable accounting standards and applied prospectively.

²Includes loans related to TRS.

- Definition

Tabular disclosure of trading securities (and certain trading assets) which consist of all investments in certain debt and equity securities (and other assets) that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for which an entity has elected the fair value option. Trading generally reflects active and frequent buying and selling, and trading securities are generally used with the objective of generating profits on short-term differences in price, but this category of investments may also include items which are not intended to be sold in the near term or for which the fair value option has been elected.

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+ Details