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PNC » Topics » Customer Resale Agreements

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

Customer Resale Agreements

We account for structured resale agreements at fair value, which are economically hedged using free-standing financial derivatives. The fair value for structured resale agreements is determined using a model which includes observable market data as inputs such as interest rates. Readily observable market inputs to this model can be validated to external sources, including yield curves, implied volatility or other market-related data.

This excerpt taken from the PNC 10-K filed Mar 2, 2009.

Customer Resale Agreements

Effective January 1, 2008, we elected to account for structured resale agreements at fair value, which are economically hedged using free-standing financial derivatives. The fair value for structured resale agreements is determined using a model which includes observable market data as inputs such as interest rates. Readily observable market inputs to this model can be validated to external sources, including yield curves, implied volatility or other market related data.

EXCERPTS ON THIS PAGE:

10-Q
May 11, 2009
10-K
Mar 2, 2009

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