Policy

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

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(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.

REGIONS FINANCIAL CORP | 2013 | FY |

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