This excerpt taken from the PNC 10-K filed Mar 2, 2009.
During 2008, we recorded other-than-temporary impairment charges totaling $312 million.
This excerpt taken from the PNC 10-Q filed Nov 6, 2008.
During the third quarter 2008, we recorded other-than-temporary impairment charges totaling $7 million related to two securities collateralized by first-lien residential mortgage loans: one rated CC and one rated D equivalent. The fair value of these two securities was less than $5 million as of September 30, 2008.
Included in the asset-backed securities portfolio were $1.2 billion of private-issuer securities collateralized by fixed- and floating-rate first-lien residential mortgage loans. These securities accounted for $483 million of the $564 million of unrealized losses at September 30, 2008, and included 21 securities totaling $271 million collateralized by residential mortgage loans considered by us to be of higher risk credit quality (i.e., FICO score equal to or less than 660). Of these, 19 totaling $270 million were rated AAA equivalent as of September 30, 2008 with the remaining two rated either AA or A equivalent.