PNC » Topics » Fair Value Hedges

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

Fair Value Hedges

 

Three months ended

March 31, 2009

In millions

               Gain (Loss)
Recognized
in Income on
Derivatives
    Gain (Loss) on
Related Hedged
Items Recognized
in Income
 
      Hedged Items    Location    Amount     Amount  

Interest rate contracts

   Federal Home Loan Bank borrowings    Borrowed funds (interest expense)    $ (5 )   $ (30 )

Interest rate contracts

   Subordinated debt    Borrowed funds (interest expense)      22       (66 )

Interest rate contracts

   Bank notes and senior debt    Borrowed funds (interest expense)      (32 )     16  

Total

             $ (15 )   $ (80 )
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