REGIONS FINANCIAL CORP | 2013 | FY | 3


The following tables present assets and liabilities measured at estimated fair value on a recurring basis and non-recurring basis as of December 31:
 
 
2013
 
 
2012
 
Level 1
 
Level 2
 
Level 3
 
Total
Estimated Fair Value
 
 
Level 1
 
Level 2
 
Level 3
 
Total
Estimated Fair Value
 
(In millions)
Recurring fair value measurements
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trading account securities
$
111

 
$
—

 
$
—

 
$
111

 
 
$
116

 
$
—

 
$
—

 
$
116

Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
56

 
$
—

 
$
—

 
$
56

 
 
$
52

 
$
—

 
$
—

 
$
52

Federal agency securities
—

 
89

 
—

 
89

 
 
—

 
553

 
—

 
553

Obligations of states and political subdivisions
—

 
5

 
—

 
5

 
 
—

 
9

 
—

 
9

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential agency
—

 
15,677

 
—

 
15,677

 
 
—

 
21,277

 
—

 
21,277

Residential non-agency
—

 
—

 
9

 
9

 
 
—

 
—

 
13

 
13

Commercial agency
—

 
935

 
—

 
935

 
 
—

 
725

 
—

 
725

Commercial non-agency
—

 
1,211

 
—

 
1,211

 
 
—

 
1,098

 
—

 
1,098

Corporate and other debt securities
—

 
2,825

 
2

 
2,827

 
 
—

 
2,833

 
2

 
2,835

Equity securities(1)
137

 
—

 
—

 
137

 
 
125

 
—

 
—

 
125

Total securities available for sale
$
193

 
$
20,742

 
$
11

 
$
20,946

 
 
$
177

 
$
26,495

 
$
15

 
$
26,687

Mortgage loans held for sale
$
—

 
$
429

 
$
—

 
$
429

 
 
$
—

 
$
1,282

 
$
—

 
$
1,282

Mortgage servicing rights
$
—

 
$
—

 
$
297

 
$
297

 
 
$
—

 
$
—

 
$
191

 
$
191

Derivative assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
—

 
$
1,153

 
$
—

 
$
1,153

 
 
$
—

 
$
1,861

 
$
—

 
$
1,861

Interest rate options
—

 
4

 
5

 
9

 
 
—

 
3

 
22

 
25

Interest rate futures and forward commitments
—

 
9

 
—

 
9

 
 
—

 
10

 
—

 
10

Other contracts
—

 
48

 
—

 
48

 
 
—

 
31

 
—

 
31

Total derivative assets
$
—

 
$
1,214

 
$
5

 
$
1,219

 
 
$
—

 
$
1,905

 
$
22

 
$
1,927

Derivative liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
—

 
$
1,251

 
$
—

 
$
1,251

 
 
$
—

 
$
1,776

 
$
—

 
$
1,776

Interest rate options
—

 
4

 
—

 
4

 
 
—

 
4

 
—

 
4

Interest rate futures and forward commitments
—

 
2

 
—

 
2

 
 
—

 
13

 
—

 
13

Other contracts
—

 
44

 
—

 
44

 
 
—

 
32

 
—

 
32

Total derivative liabilities
$
—

 
$
1,301

 
$
—

 
$
1,301

 
 
$
—

 
$
1,825

 
$
—

 
$
1,825

Nonrecurring fair value measurements
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans held for sale
$
—

 
$
—

 
$
596

 
$
596

 
 
$
—

 
$
—

 
$
51

 
$
51

Foreclosed property and other real estate
—

 
49

 
18

 
67

 
 
—

 
41

 
40

 
81

_________
(1) Excludes Federal Reserve Bank and Federal Home Loan Bank Stock totaling $472 million and $67 million at December 31, 2013 and $484 million and $73 million at December 31, 2012, respectively.




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