Policy

Recurring Fair Value Measurements

The following tables present certain information regarding assets and liabilities measured at fair value on a recurring basis and the changes in fair value for those specific financial instruments in which fair value has been elected.



	December 31, 2013
	Fair Value Measurements
(Dollars in millions)	Level 1		Level 2		Level 3		Netting Adjustments ¹			Assets/Liabilities at Fair Value
Assets
Trading assets and derivatives:
U.S. Treasury securities		$219		$—		$—		$—			$219
Federal agency securities	—		426		—		—			426
U.S. states and political subdivisions	—		65		—		—			65
MBS - agency	—		323		—		—			323
CDO/CLO securities	—		3		54		—			57
ABS	—		—		6		—			6
Corporate and other debt securities	—		534		—		—			534
CP	—		29		—		—			29
Equity securities	109		—		—		—			109
Derivative contracts ²	828		5,285		12		(4,741		)	1,384
Trading loans	—		1,888		—		—			1,888
Total trading assets and derivatives	1,156		8,553		72		(4,741		)	5,040
Securities AFS:
U.S. Treasury securities	1,293		—		—		—			1,293
Federal agency securities	—		984		—		—			984
U.S. states and political subdivisions	—		203		34		—			237
MBS - agency	—		18,911		—		—			18,911
MBS - private	—		—		154		—			154
ABS	—		58		21		—			79
Corporate and other debt securities	—		37		5		—			42
Other equity securities ³	103		—		739		—			842
Total securities AFS	1,396		20,193		953		—			22,542
LHFS:
Residential loans	—		1,114		3		—			1,117
Corporate and other loans	—		261		—		—			261
Total LHFS	—		1,375		3		—			1,378
LHFI	—		—		302		—			302
MSRs	—		—		1,300		—			1,300
Liabilities
Trading liabilities and derivatives:
U.S. Treasury securities	472		—		—		—			472
Corporate and other debt securities	—		179		—		—			179
Equity securities	5		—		—		—			5
Derivative contracts ²	502		5,167		4		(5,148		)	525
Total trading liabilities and derivatives	979		5,346		4		(5,148		)	1,181
Brokered time deposits	—		764		—		—			764
Long-term debt	—		1,556		—		—			1,556
Other liabilities ⁴	—		—		29		—			29

¹Amounts represent offsetting cash collateral received from and paid to the same derivative counterparties and the impact of netting derivative assets and derivative liabilities when a legally enforceable master netting agreement or similar agreement exists.

²These amounts include IRLCs and derivative financial instruments entered into by the Mortgage Banking segment to hedge its interest rate risk. See Note 16, "Derivative Financial Instruments," for further disaggregation of derivative assets and liabilities.

³Includes $336 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank stock, $103 million in mutual fund investments, and $1 million of other.

⁴Includes contingent consideration obligations related to acquisitions, as well as the derivative associated with the Company's sale of Visa shares during the year ended December 31, 2009.



	December 31, 2012
	Fair Value Measurements
(Dollars in millions)	Level 1		Level 2		Level 3		Netting Adjustments ¹			Assets/Liabilities at Fair Value
Assets
Trading assets and derivatives:
U.S. Treasury securities		$111		$—		$—		$—			$111
Federal agency securities	—		462		—		—			462
U.S. states and political subdivisions	—		34		—		—			34
MBS - agency	—		432		—		—			432
CDO/CLO securities	—		3		52		—			55
ABS	—		31		5		—			36
Corporate and other debt securities	—		566		1		—			567
CP	—		28		—		—			28
Equity securities	100		—		—		—			100
Derivative contracts ^{2, 3}	485		8,039		132		(6,573		)	2,083
Trading loans	—		2,319		—		—			2,319
Total trading assets and derivatives	696		11,914		190		(6,573		)	6,227
Securities AFS:
U.S. Treasury securities	222		—		—		—			222
Federal agency securities	—		2,069		—		—			2,069
U.S. states and political subdivisions	—		274		46		—			320
MBS - agency	—		18,169		—		—			18,169
MBS - private	—		—		209		—			209
ABS	—		195		21		—			216
Corporate and other debt securities	—		41		5		—			46
Other equity securities ⁴	69		—		633		—			702
Total securities AFS	291		20,748		914		—			21,953
LHFS:
Residential loans	—		2,916		8		—			2,924
Corporate and other loans	—		319		—		—			319
Total LHFS	—		3,235		8		—			3,243
LHFI	—		—		379		—			379
MSRs	—		—		899		—			899
Liabilities
Trading liabilities and derivatives:
U.S. Treasury securities	582		—		—		—			582
Corporate and other debt securities	—		173		—		—			173
Equity securities	9		—		—		—			9
Derivative contracts ^{2, 3}	300		7,214		—		(7,102		)	412
Total trading liabilities and derivatives	891		7,387		—		(7,102		)	1,176
Brokered time deposits	—		832		—		—			832
Long-term debt	—		1,622		—		—			1,622
Other liabilities ⁵	—		—		31		—			31

³ Certain derivative assets of $178 million and derivative liabilities of $15 million have been reclassified to trading assets and derivatives and trading liabilities and derivatives, respectively, at December 31, 2012, for comparability to the same classification of these assets and liabilities at December 31, 2013. Previously, these derivative assets and liabilities were recorded in other assets and other liabilities, respectively.

⁴Includes $229 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank stock, $69 million in mutual fund investments, and $2 million of other.

⁵Includes contingent consideration obligations related to acquisitions, as well as the derivative associated with the Company's sale of Visa shares during the year ended December 31, 2009.

SUNTRUST BANKS INC | 2013 | FY |

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