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PNC » Topics » Corporate Stocks and Other

This excerpt taken from the PNC 10-Q filed Nov 6, 2008.

Corporate Stocks and Other

During the third quarter 2008, we recorded other-than-temporary impairment charges totaling $74 million related to our investment in preferred stock of FHLMC and FNMA. The fair value of these securities was approximately $6 million as of September 30, 2008.

Other-than-temporary impairment charges are reflected in net securities gains (losses) on our Consolidated Income Statement.

The expected weighted-average life of securities available for sale (excluding corporate stocks and other) was 4 years and 8 months at September 30, 2008 and 3 years and 6 months at December 31, 2007.

Information relating to securities sold follows:

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