Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Assets and Liabilities Measured at Fair Value


			Fair Value Measurements for Assets and Liabilities Measured on a Recurring Basis
	6/30/2011		Level 1		Level 2		Level 3
			(Dollars in millions)
Assets:
Trading securities	$	564	$	204	$	359	$	1
Securities available for sale:
GSE securities		78		—		78		—
Mortgage-backed securities issued by GSE		15,231		—		15,231		—
States and political subdivisions		1,822		—		1,822		—
Non-agency mortgage-backed securities		424		—		424		—
Other securities		197		194		3		—
Covered securities		1,657		—		594		1,063
Loans held for sale (1)		1,849		—		1,849		—
Residential mortgage servicing rights		879		—		—		879
Derivative assets: (2)
Interest rate contracts		936		—		923		13
Foreign exchange contracts		4		—		4		—
Venture capital and similar investments (2)(3)		247		—		—		247

Total assets (1)	$	23,888	$	398	$	21,287	$	2,203

Liabilities:
Derivative liabilities: (2)
Interest rate contracts	$	966	$	1	$	955	$	10
Foreign exchange contracts		3		—		3		—
Short-term borrowed funds (4)		268		—		268		—

Total liabilities	$	1,237	$	1	$	1,226	$	10


			Fair Value Measurements for Assets and Liabilities Measured on a Recurring Basis
	12/31/2010		Level 1		Level 2		Level 3
			(Dollars in millions)
Assets:
Trading securities	$	633	$	276	$	346	$	11
Securities available for sale:
GSE securities		103		—		103		—
Mortgage-backed securities issued by GSE		18,344		—		18,344		—
States and political subdivisions		1,909		—		1,790		119
Non-agency mortgage-backed securities		515		—		515		—
Other securities		759		147		605		7
Covered securities		1,539		—		585		954
Loans held for sale (1)		3,176		—		3,176		—
Residential mortgage servicing rights		830		—		—		830
Derivative assets: (2)
Interest rate contracts		926		1		913		12
Foreign exchange contracts		7		—		7		—
Venture capital and similar investments (2)(3)		266		—		—		266

Total assets (1)	$	29,007	$	424	$	26,384	$	2,199

Liabilities:
Derivative liabilities: (2)
Interest rate contracts	$	996	$	10	$	949	$	37
Foreign exchange contracts		6		—		6		—
Short-term borrowed funds (4)		233		—		233		—

Total liabilities	$	1,235	$	10	$	1,188	$	37

(1)	Excludes loans held for sale carried at the lower of cost or market.

(2)	These amounts are reflected in other assets and other liabilities on the Consolidated Balance Sheets.

(3)	Based on an analysis of the nature and risks of these investments, BB&T has determined that presenting these investments as a single class is appropriate.

(4)	Short-term borrowed funds reflect securities sold short positions.

Roll Forward of Level 3 Assets and Liabilities


	Fair Value Measurements Using Significant Unobservable Inputs
Three Months Ended June 30, 2011	Trading			States & Political Subdivisions			Other Securities		Covered Securities			Mortgage Servicing Rights			Net Derivatives			Venture Capital and Similar Investments
	(Dollars in millions)
Balance at April 1, 2011	$	1		$	52		$	—	$	1,059		$	928		$	7		$	272
Total realized and unrealized gains or losses:
Included in earnings:
Interest income		—			—			—		8			—			—			—
Mortgage banking income		—			—			—		—			(89	)		43			—
Other noninterest income		—			—			—		—			—			—			7
Included in other comprehensive income (loss)		—			—			—		(4	)		—			—			—
Purchases		2			—			—		—			—			—			7
Issuances		—			—			—		—			40			10			—
Sales		(9	)		—			—		—			—			—			(30	)
Settlements		7			(52	)		—		—			—			(57	)		(6	)
Transfers into Level 3		—			—			—		—			—			—			1
Transfers out of Level 3		—			—			—		—			—			—			(4	)

Balance at June 30, 2011	$	1		$	—		$	—	$	1,063		$	879		$	3		$	247

Net unrealized gains (losses) included in net income relating to assets and liabilities still held at June 30, 2011	$	—		$	—		$	—	$	8		$	(60	)	$	3		$	5


	Fair Value Measurements Using Significant Unobservable Inputs
Three Months Ended June 30, 2010	Trading			States & Political Subdivisions			Other Securities			Covered Securities		Mortgage Servicing Rights			Net Derivatives		Venture Capital and Similar Investments
	(Dollars in millions)
Balance at April 1, 2010	$	19		$	201		$	9		$	726	$	875		$	1	$	261
Total realized and unrealized gains or losses:
Included in earnings:
Interest Income		—			—			—			18		—			—		—
Mortgage banking income		—			—			—			—		(263	)		36		—
Other noninterest income		—			—			—			—		—			—		6
Included in other comprehensive income (loss)		—			(2	)		(1	)		74		—			—		—
Purchases, issuances and settlements		(8	)		(46	)		—			—		53			11		5
Transfers into Level 3		—			—			—			—		—			—		—
Transfers out of Level 3		—			(17	)		—			—		—			—		—

Balance at June 30, 2010	$	11		$	136		$	8		$	818	$	665		$	48	$	272

Net unrealized gains (losses) included in net income relating to assets and liabilities still held at June 30, 2010	$	—		$	—		$	—		$	18	$	(232	)	$	48	$	4


	Fair Value Measurements Using Significant Unobservable Inputs
Six Months Ended June 30, 2011	Trading			States & Political Subdivisions			Other Securities			Covered Securities		Mortgage Servicing Rights			Net Derivatives			Venture Capital and Similar Investments
	(Dollars in millions)
Balance at January 1, 2011	$	11		$	119		$	7		$	954	$	830		$	(25	)	$	266
Total realized and unrealized gains or losses:
Included in earnings:
Interest income		—			—			—			26		—			—			—
Mortgage banking income		—			—			—			—		(77	)		26			—
Other noninterest income		(3	)		—			—			—		—			—			15
Included in other comprehensive income (loss)		—			(9	)		(1	)		83		—			—			—
Purchases		2			—			—			—		—			—			12
Issuances		—			—			—			—		126			21			—
Sales		(9	)		—			—			—		—			—			(36	)
Settlements		—			(53	)		(1	)		—		—			(19	)		(7	)
Transfers into Level 3		—			—			—			—		—			—			1
Transfers out of Level 3		—			(57	)		(5	)		—		—			—			(4	)

Balance at June 30, 2011	$	1		$	—		$	—		$	1,063	$	879		$	3		$	247

Net unrealized gains (losses) included in net income relating to assets and liabilities still held at June 30, 2011	$	—		$	—		$	—		$	26	$	(20	)	$	3		$	12


	Fair Value Measurements Using Significant Unobservable Inputs
Six Months Ended June 30, 2010	Trading			States & Political Subdivisions			Other Securities			Covered Securities		Mortgage Servicing Rights			Net Derivatives			Venture Capital and Similar Investments
	(Dollars in millions)
Balance at January 1, 2010	$	93		$	210		$	9		$	668	$	832		$	(20	)	$	281
Total realized and unrealized gains or losses:
Included in earnings:
Interest income		—			—			—			34		—			—			—
Mortgage banking income		—			—			—			—		(289	)		53			—
Other noninterest income		—			—			—			—		—			—			9
Included in other comprehensive income (loss)		—			(1	)		(1	)		116		—			—			—
Purchases, issuances and settlements		(6	)		(56	)		—			—		122			15			(18	)
Transfers into Level 3		—			—			—			—		—			—			—
Transfers out of Level 3		(76	)		(17	)		—			—		—			—			—

Balance at June 30, 2010	$	11		$	136		$	8		$	818	$	665		$	48		$	272

Net unrealized gains (losses) included in net income relating to assets and liabilities still held at June 30, 2010	$	—		$	—		$	—		$	34	$	(227	)	$	48		$	3

Fair Value and Unpaid Principal Balance of Loans Held for Sale


	June 30, 2011						December 31, 2010
	Fair Value		Aggregate Unpaid Principal Balance		Fair Value Less Aggregate Unpaid Principal Balance		Fair Value		Aggregate Unpaid Principal Balance		Fair Value Less Aggregate Unpaid Principal Balance
	(Dollars in millions)
Loans held for sale reported at fair value:
Total (1)(2)	$	1,849	$	1,820	$	29	$	3,176	$	3,192	$	(16	)
Nonaccrual loans		—		—		—		—		—		—
Loans 90 days or more past due and still accruing interest		1		1		—		1		1		—

(1)	The change in fair value is reflected in mortgage banking income.

(2)	Excludes loans held for sale carried at the lower of cost or market.

Carrying Amounts and Fair Values of Financial Assets and Liabilities Not Recorded at Fair Value


	June 30, 2011				December 31, 2010
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Dollars in millions)
Financial assets:
Securities held to maturity (1)	$	8,552	$	8,605	$	—	$	—
Loans and leases (2)(3)		100,985		99,915		101,380		100,360

Financial liabilities:
Deposits		108,064		105,416		107,213		104,091
Long-term debt		23,380		24,421		21,730		22,733

(1)	The carrying value excludes amounts deferred in other comprehensive income resulting from the transfer of securities available for sale to securities held to maturity. Refer to Note 10 for additional disclosures.

(2)	Includes loans held for sale carried at the lower of cost or market.

(3)	The carrying value is net of the allowance for loan and lease losses.

Notional or Contractual Amounts and Fair Values of Off Balance-Sheet Financial Instruments


	June 30, 2011				December 31, 2010
	Notional/ Contract Amount		Fair Value		Notional/ Contract Amount		Fair Value
	(Dollars in millions)
Contractual commitments:
Commitments to extend, originate or purchase credit	$	38,703	$	68	$	36,917	$	65
Residential mortgage loans sold with recourse		1,464		7		1,624		6
Other loans sold with recourse		4,535		21		4,352		19
Letters of credit and financial guarantees written		6,387		42		7,291		41
Commitments to fund affordable housing investments		296		280		334		316

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

+ References

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Publisher FASB
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 7
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Publisher FASB
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Publisher FASB
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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