PNC » Topics » Consolidated VIEs-PNC Is Primary Beneficiary

This excerpt taken from the PNC 10-Q filed May 11, 2009.

Consolidated VIEs—PNC Is Primary Beneficiary

 

In millions   

Aggregate

Assets

   Aggregate
Liabilities
 

Partnership interests in low income housing projects

       

March 31, 2009

   $ 1,452    $ 803  

December 31, 2008

   $ 1,499    $ 863 (a)

Credit Risk Transfer Transaction

       

March 31, 2009

   $ 1,012    $ 1,012  

December 31, 2008

   $ 1,070    $ 1,070  
(a) We have revised this amount due to PNC’s adoption of SFAS 160 as noncontrolling interests are no longer classified as aggregate liabilities.

We hold significant variable interests in VIEs that have not been consolidated because we are not considered the primary beneficiary. Information on these VIEs follows:

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