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: