|
|
![]() | ![]() | ![]() | ![]() |
This excerpt taken from the ALL 10-K filed Feb 25, 2010. Securities loaned The Company's business activities include securities lending programs with third parties, mostly large banks. At December 31, 2009 and 2008, fixed income and equity securities with a carrying value of $434 million and $307 million, respectively, were on loan under these agreements. In return, the Company receives cash that it invests and includes in short-term investments and fixed income securities, with an offsetting liability recorded in other liabilities and accrued expenses to account for the Company's obligation to return the collateral. Interest income on collateral, net of fees, was $2 million, $48 million and $19 million, for the years ended December 31, 2009, 2008 and 2007, respectively. These excerpts taken from the ALL 10-K filed Feb 26, 2009. Securities loaned The Company's business activities include securities lending programs with third parties, mostly large banks. At December 31, 2008 and 2007, fixed income and equity securities with a carrying value of $307 million and $3.29 billion, respectively, were on loan under these agreements. In return, the Company receives cash that it invests and includes in short-term investments and fixed income securities, with an offsetting liability recorded in other liabilities and accrued expenses to account for the Company's obligation to return the collateral. Interest income on collateral, net of fees, was $48 million, $19 million and $10 million, for the years ended December 31, 2008, 2007 and 2006, respectively. Securities loaned The Company's business activities include securities lending programs with third parties, mostly large banks. At December 31, | EXCERPTS ON THIS PAGE:
RELATED TOPICS for ALL: |
| |||||||