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2006 Annual Report
 

Statistical Tables

Table I Year-to-date Average Balances and Interest Rates—FTE Basis
2006
 2005
 2004
(Dollars in millions) Average
Balance		 Interest
Income/
Expense		 Yield/
Rate		 Average
Balance		 Interest
Income/
Expense		 Yield/
Rate		 Average
Balance		 Interest
Income/
Expense		 Yield/
Rate
Earning assets
Time deposits placed and other
short-term investments
$
15,611
$
646 		4.14
%
$
14,286
$
472 		3.30
%
$
14,254
$
362 		2.54
%
Federal funds sold and securities
purchased under agreements to resell
 175,334 7,823 4.46 169,132 5,012 2.96 128,981 1,940 1.50
Trading account assets 145,321 7,552 5.20 133,502 5,883 4.41 104,616 4,092 3.91
Debt securities (1) 225,219 11,845 5.26 219,843 11,047 5.03 150,171 7,320 4.88
Loans and leases (2):
Residential mortgage 207,879 11,608 5.58 173,773 9,424 5.42 167,270 9,056 5.42
Credit card — domestic 63,838 8,638 13.53 53,997 6,253 11.58 43,435 4,653 10.71
Credit card — foreign 9,141 1,147 12.55 — — — — — —
Home equity lines 68,696 5,105 7.43 56,289 3,412 6.06 39,400 1,835 4.66
Direct/Indirect consumer (3) 59,597 4,552 7.64 44,981 2,589 5.75 38,078 2,093 5.50
Other consumer (4) 10,713 1,089 10.17 6,908 667 9.67 7,717 594 7.70
Total consumer 419,864 32,139 7.65 335,948 22,345 6.65 295,900 18,231 6.16
Commercial — domestic 151,231 10,897 7.21 128,034 8,266 6.46 114,644 6,978 6.09
Commercial real estate (5) 36,939 2,740 7.42 34,304 2,046 5.97 28,085 1,263 4.50
Commercial lease financing 20,862 995 4.77 20,441 992 4.85 17,483 819 4.68
Commercial — foreign 23,521 1,674 7.12 18,491 1,292 6.99 16,505 850 5.15
Total Commercial 232,553 16,306 7.01 201,270 12,596 6.26 176,717 9,910 5.61
Total loans and leases 652,417 48,445 7.43 537,218 34,941 6.50 472,617 28,141 5.95
Other earning assets 55,242 3,498 6.33 38,013 2,103 5.53 34,634 1,815 5.24
Total earning
assets (6)
 1,269,144 79,809 6.29 1,111,994 59,458 5.35 905,273 43,670 4.82
Cash and cash equivalents 34,052     33,199     28,511    
Other assets, less allowance
for loan and lease losses 		163,485     124,699     110,847    
Total assets
$
1,466,681 		   
$
1,269,892 		   
$
1,044,631 		   
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings
$
34,608
$
269 		0.78
%
$
36,602
$
211 		0.58
%
$
33,959
$
119 		0.35
%
NOW and money
market deposit accounts
 218,077 3,923 1.80 227,722 2,839 1.25 214,542 1,921 0.90
Consumer CDs and IRAs 144,738 6,022 4.16 124,385 4,091 3.29 94,770 2,540 2.68
Negotiable CDs, public
funds and other time deposits
 12,195 483 3.97 6,865 250 3.65 5,977 290 4.85
Total domestic
interest-bearing deposits
 409,618 10,697 2.61 395,574 7,391 1.87 349,248 4,870 1.39
Foreign interest-bearing deposits:
Banks located
in foreign countries
 34,985 1,982 5.67 22,945 1,202 5.24 18,426 679 3.68
Governments and
official institutions
 12,674 586 4.63 7,418 238 3.21 5,327 97 1.82
Time, savings and other 38,544 1,215 3.15 31,603 661 2.09 27,739 275 0.99
Total foreign
interest-bearing deposits
 86,203 3,783 4.39 61,966 2,101 3.39 51,492 1,051 2.04
Total interest-
bearing deposits
 495,821 14,480 2.92 457,540 9,492 2.08 400,740 5,921 1.48
Federal funds purchased,
securities sold under agreements to repurchase and other short-term borrowings
 411,132 19,840 4.83 326,408 11,615 3.56 227,565 4,072 1.79
Trading account liabilities 64,689 2,640 4.08 57,689 2,364 4.10 35,326 1,317 3.73
Long-term debt 130,124 7,034 5.41 97,709 4,418 4.52 92,303 3,683 3.99
Total interest-
bearing
liabilities (6)
 1,101,766 43,994 3.99 939,346 27,889 2.97 755,934 14,993 1.98
Noninterest-bearing sources:
Noninterest-bearing deposits 177,174     174,892     150,819    
Other liabilities 57,278     55,793     53,063    
Shareholders' equity 130,463     99,861     84,815    
Total liabilities
and shareholders' equity
$
1,466,681 		   
$
1,269,892 		   
$
1,044,631 		   
Net interest spread     2.30
%
     2.38
%
     2.84
%
Impact of noninterest-
bearing sources
    0.52     0.46     0.33
Net interest
income/yield on earning assets (7)
  
$
35,815 		2.82
%
  
$
31,569 		2.84
%
  
$
28,677 		3.17
%
Footnote (1) Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.
Footnote (2) Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.
Footnote (3) Includes home equity loans of $9.6 billion, $7.6 billion and $5.6 billion in 2006, 2005 and 2004, respectively.
Footnote (4) Includes consumer finance loans of $2.9 billion, $3.1 billion and $3.7 billion in 2006, 2005 and 2004, respectively; and foreign consumer loans of $7.8 billion, $3.6 billion and $3.0 billion in 2006, 2005 and 2004, respectively.
Footnote (5) Includes domestic commercial real estate loans of $36.2 billion, $33.8 billion and $27.7 billion in 2006, 2005 and 2004, respectively.
Footnote (6) Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on the underlying assets $(372) million, $704 million and $2.1 billion in 2006, 2005 and 2004, respectively. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $106 million, $1.3 billion and $1.5 billion in 2006, 2005 and 2004, respectively. For further information on interest rate contracts, see "Interest Rate Risk Management for Nontrading Activities."
Footnote (7) Interest income (FTE basis) in 2006 does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign sales corporation regimes. The FTE impact to Net Interest Income and net interest yield on earning assets of this retroactive tax adjustment was a reduction of $270 million and 2 bps, respectively, in 2006. Management has excluded this one-time impact to provide a more comparative basis of presentation for Net Interest Income and net interest yield on earning assets on a FTE basis. The impact on any given future period is not expected to be material.

Table II Analysis of Changes in Net Interest Income—FTE Basis
From 2005 to 2006 From 2004 to 2005
Due to Change in (1) Due to Change in (1)
(Dollars in millions) Volume Rate Net
Change		 Volume Rate Net
Change
Increase (decrease) in interest income
Time deposits placed and
other short-term investments
$
43
$
131
$
174
$
1
$
109
$
110
Federal funds sold and securities
purchased under agreements to resell
 178 2,633 2,811 597 2,475 3,072
Trading account assets 526 1,143 1,669 1,128 663 1,791
Debt securities 282 516 798 3,408 319 3,727
Loans and leases:
Residential mortgage 1,843 341 2,184 362 6 368
Credit card — domestic 1,139 1,246 2,385 1,130 470 1,600
Credit card — foreign 1,147 — 1,147 — — —
Home equity lines 751 942 1,693 788 789 1,577
Direct/Indirect consumer 838 1,125 1,963 381 115 496
Other consumer 369 53 422 (62) 135 73
Total consumer     9,794     4,114
Commercial — domestic 1,504 1,127 2,631 819 469 1,288
Commercial real estate 159 535 694 281 502 783
Commercial lease financing 20 (17) 3 138 35 173
Commercial — foreign 352 30 382 102 340 442
Total Commercial     3,710     2,686
Total loans and leases     13,504     6,800
Other earning assets 952 443 1,395 177 111 288
Total interest income
    
$
20,351 		   
$
15,788
Increase (decrease) in interest expense
Domestic interest-bearing deposits:
Savings
$
(10)
$
68
$
58
$
9
$
83
$
92
NOW and money
market deposit accounts
 (113) 1,197 1,084 128 790 918
Consumer CDs and IRAs 671 1,260 1,931 781 770 1,551
Negotiable CDs, public
funds and other time deposits
 195 38 233 43 (83) (40)
Total domestic
interest-bearing deposits
     3,306     2,521
Foreign interest-bearing deposits:
Banks located
in foreign countries
 631 149 780 165 358 523
Governments and
official institutions
 169 179 348 38 103 141
Time, savings and other 145 409 554 38 348 386
Total foreign
interest-bearing deposits
     1,682     1,050
Total interest-
bearing deposits
     4,988     3,571
Federal funds purchased,
securities sold under agreements to repurchase and other short-term borrowings
 3,021 5,204 8,225 1,771 5,772 7,543
Trading account liabilities 288 (12) 276 835 212 1,047
Long-term debt 1,464 1,152 2,616 216 519 735
Total interest expense
    16,105     12,896
Net increase in
net interest
income (2)
    
$
4,246 		   
$
2,892
Footnote (1) The changes for each category of interest income and expense are divided between the portion of change attributable to the variance in volume and the portion of change attributable to the variance in rate for that category. The unallocated change in rate or volume variance has been allocated between the rate and volume variances.
Footnote (2) Interest income (FTE basis) in 2006 does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign sales corporation regimes. The FTE impact to Net Interest Income of this retroactive tax adjustment is a reduction of $270 million from 2005 to 2006. Management has excluded this one-time impact to provide a more comparative basis of presentation for Net Interest Income and net interest yield on earning assets on a FTE basis. The impact on any given future period is not expected to be material.

Table III Outstanding Loans and Leases
December 31
(Dollars in millions) 2006 2005 2004 2003 2002
Consumer
Residential mortgage
$
241,181
$
182,596
$
178,079
$
140,483
$
108,332
Credit card — domestic 61,195 58,548 51,726 34,814 24,729
Credit card — foreign 10,999 — — — —
Home equity lines 74,888 62,098 50,126 23,859 23,236
Direct/Indirect consumer (1) 68,224 45,490 40,513 33,415 31,068
Other consumer (2) 9,218 6,725 7,439 7,558 10,355
Total consumer
 465,705 355,457 327,883 240,129 197,720
Commercial
Commercial — domestic 161,982 140,533 122,095 91,491 99,151
Commercial real estate (3) 36,258 35,766 32,319 19,367 20,205
Commercial lease financing 21,864 20,705 21,115 9,692 10,386
Credit card — foreign 20,681 21,330 18,401 10,754 15,428
Total commercial
 240,785 218,334 193,930 131,304 145,170
Total loans and leases
$
706,490
$
573,791
$
521,813
$
371,433
$
342,890
Footnote (1) Includes home equity loans of $12.8 billion, $8.1 billion, $7.3 billion, $7.3 billion, and $3.6 billion at December 31, 2006, 2005, 2004, 2003, and 2002, respectively.
Footnote (2) Includes foreign consumer loans of $6.2 billion, $3.8 billion, $3.6 billion, $2.0 billion, and $2.0 billion at December 31, 2006, 2005, 2004, 2003, and 2002, respectively; consumer finance loans of $2.8 billion, $2.8 billion, $3.4 billion, $3.9 billion, and $4.4 billion at December 31, 2006, 2005, 2004, 2003, and 2002, respectively; and consumer lease financing of $481 million, $1.7 billion, and $3.9 billion at December 31, 2004, 2003, and 2002, respectively.
Footnote (3) Includes domestic commercial real estate loans of $35.7 billion, $35.2 billion, $31.9 billion, $19.0 billion, and $19.9 billion at December 31, 2006, 2005, 2004, 2003, and 2002, respectively; and foreign commercial real estate loans of $578 million, $585 million, $440 million, $324 million, and $295 million at December 31, 2006, 2005, 2004, 2003, and 2002, respectively.

Table IV Nonperforming Assets
December 31
(Dollars in millions) 2006 2005 2004 2003 2002
Consumer
Residential mortgage
$
660
$
570
$
554
$
531
$
612
Home equity lines 249 117 66 43 66
Direct/Indirect consumer 44 37 33 28 30
Other consumer 77 61 85 36 25
Total consumer(1)
 1,030 785 738 638 733
Commercial
Commercial — domestic 584 581 855 1,388 2,621
Commercial real estate 118 49 87 142 164
Commercial lease financing 42 62 266 127 160
Credit card — foreign 13 34 267 578 1,359
Total commercial (2)
 757 726 1,475 2,235 4,304
Total nonperforming loans and leases
 1,787 1,511 2,213 2,873 5,037
Foreclosed properties 69 92 102 148 225
Nonperforming securities (3) — — 140 — —
Total nonperforming assets (4)
$
1,856
$
1,603
$
2,455
$
3,021
$
5,262
Footnote (1) In 2006, $69 million in Interest Income was estimated to be contractually due on nonperforming consumer loans and leases classified as nonperforming at December 31, 2006 provided that these loans and leases had been paid according to their terms and conditions. Of this amount, approximately $17 million was received and included in Net Income for 2006.
Footnote (2) In 2006, $85 million in Interest Income was estimated to be contractually due on nonperforming commercial loans and leases classified as nonperforming at December 31, 2006, including troubled debt restructured loans of which $2 million were performing at December 31, 2006 and not included in the table above. Approximately $38 million of the estimated $85 million in contractual interest was received and included in net income for 2006.
Footnote (3) Primarily related to international securities held in the AFS portfolio.
Footnote (4) Balances do not include $30 million, $24 million, $28 million, $16 million, and $41 million of nonperforming consumer loans held-for-sale, included in Other Assets at December 31, 2006, 2005, 2004, 2003, and 2002, respectively, and $50 million, $45 million, $123 million, $186 million, and $73 million of nonperforming commercial loans held-for-sale, included in Other Assets at December 31, 2006, 2005, 2004, 2003, and 2002, respectively.

Table V Accruing Loans and Leases Past Due 90 Days or More
December 31
(Dollars in millions) 2006 2005 2004 2003 2002
Consumer
Residential mortgage (1)
$
118
$
—
$
—
$
—
$
—
Credit card — domestic 1,991 1,197 1,075 616 424
Credit card — foreign 184 — — — —
Direct/Indirect consumer 347 75 58 47 56
Other consumer 38 15 23 35 61
Total consumer
 2,678 1,287 1,156 698 541
Commercial
Commercial — domestic 265 117 121 110 132
Commercial real estate 78 4 1 23 91
Commercial lease financing 26 15 14 n/a n/a
Commercial — foreign 9 32 2 29 —
Total commercial
 378 168 138 162 223
Total accruing loans and leases
past due 90 days or more
$
3,056
$
1,455
$
1,294
$
860
$
764
Footnote (1) Balance at December 31, 2006 is related to repurchases pursuant to our servicing agreements with GNMA mortgage pools, which were included in loans held-for-sale in previous years.
n/a= not available

Table VI Allowance for Credit Losses
(Dollars in millions) 2006 2005 2004 2003 2002
Allowance for loan and lease losses, January 1
$
8,045
$
8,626
$
6,163
$
6,358
$
6,278
FleetBoston balance, April 1, 2004 — — 2,763 — —
MBNA balance, January 1, 2006 577 — — — —
Loans and leases charged off
Residential mortgage (74) (58) (62) (64) (56)
Credit card — domestic (3,546) (4,018) (2,536) (1,657) (1,210)
Credit card — foreign (292) — — — —
Home equity lines (67) (46) (38) (38) (40)
Direct/Indirect consumer (748) (380) (344) (322) (355)
Other consumer (436) (376) (295) (343) (395)
Total consumer
 (5,163) (4,878) (3,275) (2,424) (2,056)
Commercial — domestic (597) (535) (504) (857) (1,625)
Commercial real estate (7) (5) (12) (46) (45)
Commercial lease financing (28) (315) (39) (132) (168)
Credit card — foreign (86) (61) (262) (408) (566)
Total commercial
 (718) (916) (817) (1,443) (2,404)
Total loans and leases charged off
 (5,881) (5,794) (4,092) (3,867) (4,460)
Recoveries of loans and leases previously charged off
Residential mortgage 35 31 26 24 14
Credit card — domestic 452 366 231 143 116
Credit card — foreign 67 — — — —
Home equity lines 16 15 23 26 14
Direct/Indirect consumer 224 132 136 141 145
Other consumer 133 101 102 88 99
Total consumer
 927 645 518 422 388
Commercial — domestic 261 365 327 224 314
Commercial real estate 4 5 15 5 7
Commercial lease financing 56 84 30 8 9
Credit card — foreign 94 133 89 102 45
Total commercial
 415 587 461 339 375
Total recoveries of loans and leases
previously charged off
 1,342 1,232 979 761 763
Net charge-offs
 (4,539) (4,562) (3,113) (3,106) (3,697)
Provision for loan and lease losses 5,001 4,021 2,868 2,916 3,801
Other (68) (40) (55) (5) (24)
Allowance for loan and lease
losses, December 31
 9,016 8,045 8,626 6,163 6,358
Reserve for unfunded lending
commitments, January 1
 395 402 416 493 597
FleetBoston balance, April 1, 2004 — — 85 — —
Provision for unfunded lending commitments 9 (7) (99) (77) (104)
Other (7) — — — —
Reserve for unfunded lending
commitments, December 31
 397 395 402 416 493
Total
$
9,413
$
8,440
$
9,028
$
6,579
$
6,851
Loans and leases outstanding at December 31
$
706,490
$
573,791
$
521,813
$
371,433
$
342,890
Allowance for loan and lease losses
as a percentage of loans and leases
outstanding at December 31
1.28
%
 1.40
%
 1.65
%
 1.66
%
 1.85
%
Consumer allowance for loan and lease
losses as a percentage of consumer loans
and leases outstanding at December 31
1.19 1.27 1.34 1.25 0.95
Commercial allowance for loan and lease
losses as a percentage of commercial
loans and leases outstanding at December 31
1.44 1.62 2.19 2.40 2.43
Average loans and leases outstanding
during the year
$
652,417
$
537,218
$
472,617
$
356,220
$
336,820
Net charge-offs as a percentage of average loans
and leases outstanding during the year (1)
 0.70
%
 0.85
%
 0.66
%
 0.87
%
 1.10
%
Allowance for loan and lease losses as a
percentage of total nonperforming loans
and leases at December 31
 505 532 390 215 126
Ratio of the allowance for loan and lease
losses at December 31 to net charge-offs (1)
 1.99 1.76 2.77 1.98 1.72
Footnote (1) For 2006, the impact of SOP 03-3 decreased net charge-offs by $288 million. Excluding the impact of SOP 03-3, net charge-offs as a percentage of average loans and leases outstanding for 2006 was 0.74 percent, and the ratio of the Allowance for Loan and Lease Losses to net charge-offs was 1.87 at December 31, 2006.

Table VII Allocation of the Allowance for Credit Losses by Product Type
  December 31
2006 2005 2004 2003 2002
(Dollars in millions) Amount Percent Amount Percent Amount Percent Amount Percent Amount Percent
Allowance for loan and
lease losses
Residential mortgage
$
248 		2.8
%
$
277 		3.4
%
$
240 		2.8
%
$
185 		3.0
%
$
108 		1.7
%
Credit card — domestic 3,176 35.2 3,301 41.0 3,148 36.5 1,947 31.6 1,031 16.2
Credit card — foreign 336 3.7 — — — — — — — —
Home equity lines 133 1.5 136 1.7 115 1.3 72 1.2 49 0.8
Direct/Indirect consumer 1,200 13.3 421 5.2 375 4.3 347 5.6 361 5.7
Other consumer 467 5.2 380 4.8 500 5.9 456 7.4 332 5.2
Total consumer 5,560 61.7 4,515 56.1 4,378 50.8 3,007 48.8 1,881 29.6
Commercial — domestic 2,162 24.0 2,100 26.1 2,101 24.3 1,756 28.5 2,231 35.1
Commercial real estate 588 6.5 609 7.6 644 7.5 484 7.9 439 6.9
Commercial lease financing 217 2.4 232 2.9 442 5.1 235 3.8 n/a n/a
Commercial — foreign 489 5.4 589 7.3 1,061 12.3 681 11.0 855 13.4
Total commercial (1) 3,456 38.3 3,530 43.9 4,248 49.2 3,156 51.2 3,525 55.4
General (2) — — — — — — — — 952 15.0
Allowance for
loan and lease
losses
 9,016 100.0
%
 8,045 100.0
%
 8,626 100.0
%
 6,163 100.0
%
 6,358 100.0
%
Reserve for unfunded
lending commitments
397   395   402   416   493  
Total
$
9,413 		 
$
8,440 		 
$
9,028 		 
$
6,579 		 
$
6,851 		 
Footnote (1) Includes allowance for loan and lease losses of commercial impaired loans of $43 million, $55 million, $202 million, $391 million, and $919 million at December 31, 2006, 2005, 2004, 2003, and 2002, respectively.
Footnote (2) At December 31, 2005, general reserves were assigned to individual product types to better reflect our view of risk in these portfolios. Information was not available to assign general reserves by product types prior to 2003.
n/a= Not available; included in Commercial — domestic at December 31, 2002.

Table VIII Selected Loan Maturity Data (1)
  December 31, 2006
(Dollars in millions) Due in One
Year or Less		 Due After
One Year
Through
Five Years		 Due After
Five Years		 Total
Commercial — domestic
$
57,067
$
66,351
$
38,564
$
161,982
Commercial real estate—domestic 14,562 17,774 3,344 35,680
Foreign and other (2) 22,509 4,432 496 27,437
Total selected loans
$
94,138
$
88,557
$
42,404
$
225,099
Percent of total 41.8
%
 39.3
%
 18.9
%
 100.0
%
Sensitivity of selected loans to changes in
interest rates for loans due after one year:
Fixed interest rates
  
$
8,588
$
19,793 		 
Floating or adjustable interest rates
   79,969 22,611  
Total
  
$
88,557
$
42,404 		 
Footnote (1) Loan maturities are based on the remaining maturities under contractual terms.
Footnote (2) Loan maturities include other consumer, Commercial — foreign and commercial real estate loans.

Table IX Short-term Borrowings
2006 2005 2004
(Dollars in millions) Amount Rate Amount Rate Amount Rate
Federal funds purchased
At December 31
$
12,232 		5.35
%
$
2,715 		4.06
%
$
3,108 		2.23
%
Average during year 5,292 5.11 3,670 3.09 3,724 1.31
Maximum month-end balance during year 12,232 — 5,964 — 7,852 —
Securities sold under agreements to repurchase
At December 31 205,295 4.94 237,940 4.26 116,633 2.23
Average during year 281,611 4.66 227,081 3.62 161,494 1.86
Maximum month-end balance during year 312,955 — 273,544 — 191,899 —
Commercial paper
At December 31 41,223 5.34 24,968 4.21 25,379 2.09
Average during year 33,942 5.15 26,335 3.22 21,178 1.45
Maximum month-end balance during year 42,511 — 31,380 — 26,486 —
Other short-term borrowings
At December 31 100,077 5.43 91,301 4.58 53,219 2.48
Average during year 90,287 5.21 69,322 3.51 41,169 1.73
Maximum month-end balance during year 104,555 — 91,301 — 53,756 —

Table X Non-exchange Traded Commodity Contracts
(Dollars in millions) Asset
Positions		 Liability
Positions
Net fair value of contracts outstanding, January 1, 2006
$
3,021
$
2,279
Effects of legally enforceable master netting agreements 5,636 5,636
Gross fair value of contracts outstanding, January 1, 2006 8,657 7,915
Contracts realized or otherwise settled (2,797) (2,792)
Fair value of new contracts 1,182 1,127
Other changes in fair value (3,431) (2,781)
Gross fair value of contracts outstanding, December 31, 2006 3,611 3,469
Effects of legally enforceable master netting agreements (2,339) (2,339)
Net fair value of contracts outstanding, December 31, 2006
$
1,272
$
1,130

Table XI Non-exchange Traded Commodity Contract Maturities
December 31, 2006
(Dollars in millions) Asset
Positions		 Liability
Positions
Maturity of less than 1 year
$
1,244
$
1,165
Maturity of 1-3 years 1,963 1,878
Maturity of 4-5 years 321 346
Maturity in excess of 5 years 83 80
Gross fair value of contracts 3,611 3,469
Effects of legally enforceable master netting agreements (2,339) (2,339)
Net fair value of contracts outstanding
$
1,272
$
1,130

Table XII Selected Quarterly Financial Data
2006 Quarters 2005 Quarters
(Dollars in millions, except per share information) Fourth Third Second First Fourth Third Second First
Income statement
Net interest income
$
8,599
$
8,586
$
8,630
$
8,776
$
7,859
$
7,735
$
7,637
$
7,506
Noninterest income 9,866 10,067 9,598 8,901 5,951 6,416 6,955 6,032
Total revenue 18,465 18,653 18,228 17,677 13,810 14,151 14,592 13,538
Provision for credit losses 1,570 1,165 1,005 1,270 1,400 1,159 875 580
Gains (losses) on sales
of debt securities
 21 (469) (9) 14 71 29 325 659
Noninterest expense 9,093 8,863 8,717 8,924 7,320 7,285 7,019 7,057
Income before income taxes 7,823 8,156 8,497 7,497 5,161 5,736 7,023 6,560
Income tax expense 2,567 2,740 3,022 2,511 1,587 1,895 2,366 2,167
Net income 5,256 5,416 5,475 4,986 3,574 3,841 4,657 4,393
Average common shares issued
and outstanding (in
thousands)
 4,464,110 4,499,704 4,534,627 4,609,481 3,996,024 4,000,573 4,005,356 4,032,550
Average diluted common
shares issued and
outstanding (in thousands)
 4,536,696 4,570,558 4,601,169 4,666,405 4,053,859 4,054,659 4,065,355 4,099,062
Performance ratios
Return on average assets 1.39
%
 1.43
%
 1.51
%
 1.43
%
 1.09
%
 1.18
%
 1.46
%
 1.49
%
Return on average common
shareholders' equity
 15.76 16.64 17.26 15.44 14.21 15.09 18.93 17.97
Total ending equity to total
ending assets
 9.27 9.22 8.85 9.41 7.86 8.12 8.13 8.16
Total average equity to total
average assets
 8.97 8.63 8.75 9.26 7.66 7.82 7.74 8.28
Dividend payout 47.49 46.82 41.76 46.75 56.24 52.60 38.90 41.71
Per common share data
Earnings
$
1.17
$
1.20
$
1.21
$
1.08
$
0.89
$
0.96
$
1.16
$
1.09
Diluted earnings 1.16 1.18 1.19 1.07 0.88 0.95 1.14 1.07
Dividends paid 0.56 0.56 0.50 0.50 0.50 0.50 0.45 0.45
Book value 29.70 29.52 28.17 28.19 25.32 25.28 25.16 24.45
Average balance sheet
Total loans and leases
$
683,598
$
673,477
$
635,649
$
615,968
$
563,589
$
539,497
$
520,415
$
524,921
Total assets 1,495,150 1,497,987 1,456,004 1,416,373 1,305,057 1,294,754 1,277,478 1,200,859
Total deposits 680,245 676,851 674,796 659,821 628,922 632,771 640,593 627,420
Long-term debt 140,756 136,769 125,620 117,018 99,601 98,326 96,697 96,167
Common shareholders' equity 132,004 129,098 127,102 130,881 99,677 100,974 98,558 99,130
Total shareholders' equity 134,047 129,262 127,373 131,153 99,948 101,246 98,829 99,401
Asset Quality
Allowance for credit losses
$
9,413
$
9,260
$
9,475
$
9,462
$
8,440
$
8,716
$
8,702
$
8,707
Nonperforming assets 1,856 1,656 1,641 1,680 1,603 1,597 1,895 2,338
Allowance for loan and lease
losses as a percentage of
total loans and leases
outstanding
 1.28
%
 1.33
%
 1.36
%
 1.46
%
 1.40
%
 1.50
%
 1.57
%
 1.57
%
Allowance for loan and lease
losses as a percentage of
total nonperforming loans
and leases
 505 562 579 572 532 556 470 401
Net charge-offs
$
1,417
$
1,277
$
1,023
$
822
$
1,648
$
1,145
$
880
$
889
Annualized Net charge-offs as
a percentage of average
loans and leases
 0.82
%
 0.75
%
 0.65
%
 0.54
%
 1.16
%
 0.84
%
 0.68
%
 0.69
%
Nonperforming loans and
leases as a percentage of
total loans and leases
outstanding
 0.25 0.24 0.23 0.26 0.26 0.27 0.33 0.39
Nonperforming assets as a
percentage of total loans,
leases, and foreclosed
properties
 0.26 0.25 0.25 0.27 0.28 0.29 0.36 0.44
Ratio of the allowance for loan
and lease losses at period
end to annualized net
charge-offs
 1.60 1.75 2.21 2.72 1.23 1.83 2.36 2.30
Capital ratios (period end)
Risk-based capital:
Tier 1
 8.64
%
 8.48
%
 8.33
%
 8.45
%
 8.25
%
 8.27
%
 8.16
%
 8.26
%
Total
 11.88 11.46 11.25 11.32 11.08 11.19 11.23 11.52
Tier 1 Leverage 6.36 6.16 6.13 6.18 5.91 5.90 5.66 5.86
Market capitalization
$
238,021
$
240,966
$
217,794
$
208,633
$
184,586
$
168,950
$
183,202
$
177,958
Market price per share of
common stock
Closing
$
53.39
$
53.57
$
48.10
$
45.54
$
46.15
$
42.10
$
45.61
$
44.10
High closing 54.90 53.57 50.47 47.08 46.99 45.98 47.08 47.08
Low closing 51.66 47.98 45.48 43.09 41.57 41.60 44.01 43.66

Table XIII Quarterly Average Balances and Interest Rates—FTE Basis
Fourth Quarter 2006
 Third Quarter 2006
(Dollars in millions) Average
Balance		 Interest
Income/
Expense		 Yield/
Rate		 Average
Balance		 Interest
Income/
Expense		 Yield/
Rate
Earning assets
Time deposits placed and other
short-term investments
$
15,760
$
166 		4.19
%
$
15,629
$
173 		4.39
%
Federal funds sold and securities
purchased under agreements to resell
 174,167 2,068 4.73 173,381 2,146 4.94
Trading account assets 167,163 2,289 5.465.46 146,817 1,928 5.24
Debt securities (1) 193,601 2,504 5.17 236,033 3,136 5.31
Loans and leases (2):
Residential mortgage 225,985 3,202 5.66 222,889 3,151 5.65
Credit card — domestic 59,802 2,101 13.94 62,508 2,189 13.90
Credit card — foreign 10,375 305 11.66 9,455 286 12.02
Home equity lines 73,218 1,411 7.65 70,075 1,351 7.65
Direct/Indirect consumer (3) 65,158 1,316 8.00 61,361 1,193 7.74
Other consumer (4) 10,606 225 8.47 11,075 298 10.66
Total consumer 445,144 8,560 7.65 437,363 8,468 7.71
Commercial — domestic 158,604 2,907 7.27 153,007 2,805 7.28
Commercial real estate (5) 36,851 704 7.58 37,471 724 7.67
Commercial lease financing 21,159 254 4.80 20,875 232 4.46
Commercial — foreign 21,840 337 6.12 24,761 454 7.27
Total Commercial 238,454 4,202 7.00 236,114 4,215 7.09
Total loans and leases
 683,598 12,762 7.42 673,477 12,683 7.49
Other earning assets 65,172 1,058 6.46 57,029 914 6.38
Total earning
assets (6)
 1,299,461 20,847 6.39 1,302,366 20,980 6.41
Cash and cash equivalents 32,816     33,495    
Other assets, less allowance
for loan and lease losses 		162,873     162,126    
Total assets
$
1,495,150 		   
$
1,497,987 		   
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings
$
32,965
$
48 		0.58
%
$
34,268
$
69 		0.81
%
NOW and money
market deposit accounts
 211,055 966 1.81 212,690 1,053 1.96
Consumer CDs and IRAs 154,621 1,794 4.60 147,607 1,658 4.46
Negotiable CDs, public
funds and other time deposits
 13,052 140 4.30 14,105 150 4.19
Total domestic
interest-bearing deposits
 411,693 2,948 2.84 408,670 2,930 2.84
Foreign interest-bearing deposits:
Banks located
in foreign countries
 38,648 507 5.21 38,588 562 5.78
Governments and
official institutions
 14,220 168 4.70 12,801 156 4.83
Time, savings and other 41,328 366 3.50 40,444 328 3.22
Total foreign
interest-bearing deposits
 94,196 1,041 4.38 91,833 1,046 4.52
Total interest-
bearing deposits
 505,889 3,989 3.13 500,503 3,976 3.15
Federal funds purchased,
securities sold under agreements to repurchase and other short-term borrowings
 405,748 5,222 5.11 429,882 5,467 5.05
Trading account liabilities 75,261 800 4.21 69,462 727 4.15
Long-term debt 140,756 1,881 5.34 136,769 1,916 5.60
Total interest-
bearing
liabilities (6)
 1,127,654 11,892 4.19 1,136,616 12,086 4.23
Noninterest-bearing sources:
Noninterest-bearing deposits 174,356     176,348    
Other liabilities 59,093     55,761    
Shareholders' equity 134,047     129,262    
Total liabilities
and shareholders' equity
$
1,495,150 		   
$
1,497,987 		   
Net interest spread     2.20     2.18
Impact of noninterest-
bearing sources
    0.55     0.55
Net interest
income/yield on earning assets (7)
  
$
8,955 		2.75
%
  
$
8,894 		2.73
%
Footnote (1) Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.
Footnote (2) Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.
Footnote (3) Includes home equity loans of $11.7 billion, $9.9 billion, $8.7 billion and $8.2 billion in the fourth, third, second and first quarters of 2006, respectively, and $8.0 billion in the fourth quarter of 2005.
Footnote (4) Includes consumer finance loans of $2.8 billion, $2.9 billion, $3.0 billion and $3.0 billion in the fourth, third, second and first quarters of 2006, respectively, and $2.9 billion in the fourth quarter of 2005; and foreign consumer loans of $7.8 billion, $8.1 billion, $7.8 billion and $7.3 billion in the fourth, third, second and first quarters of 2006, respectively, and $3.7 billion in the fourth quarter of 2005.
Footnote (5) Includes domestic commercial real estate loans of $36.1 billion, $36.7 billion, $36.0 billion and $36.0 billion in the fourth, third, second and first quarters of 2006, respectively, and $35.4 billion in the fourth quarter of 2005.
Footnote (6) Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on the underlying assets $(198) million, $(128) million, $(54) million and $8 million in the fourth, third, second and first quarters of 2006, respectively, and $29 million in the fourth quarter of 2005. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on the underlying liabilities $(69) million, $(48) million, $87 million and $136 million in the fourth, third, second and first quarters of 2006, respectively, and $254 million in the fourth quarter of 2005. For further information on interest rate contracts, see "Interest Rate Risk Management for Nontrading Activities" beginning on page 76.
Footnote (7) Interest income (FTE basis) for the three months ended June 30, 2006, does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign sales corporation regimes. The FTE impact to Net Interest Income and net interest yield on earning assets of this retroactive tax adjustment was a reduction of $270 million and 9 bps, respectively, for the three months ended June 30, 2006. Management has excluded this one-time impact to provide a more comparative basis of presentation for Net Interest Income and net interest yield on earning assets on a FTE basis. The impact on any given future period is not expected to be material.

Second Quarter 2006
 First Quarter 2006
 Fourth Quarter 2005
(Dollars in millions) Average
Balance		 Interest
Income/
Expense		 Yield/
Rate		 Average
Balance		 Interest
Income/
Expense		 Yield/
Rate		 Average
Balance		 Interest
Income/
Expense		 Yield/
Rate
Earning assets
Time deposits placed and other
short-term investments
$
16,691
$
168 		4.05
%
$
14,347
$
139 		3.92
%
$
14,619
$
133 		3.59
%
Federal funds sold and securities
purchased under agreements to resell
 179,104 1,900 4.25 174,711 1,709 3.94 165,908 1,477 3.55
Trading account assets 133,556 1,712 5.13 133,361 1,623 4.89 139,441 1,648 4.72
Debt securities (1) 236,967 3,162 5.34 234,606 3,043 5.19 221,411 2,842 5.13
Loans and leases (2):
Residential mortgage 197,228 2,731 5.54 184,796 2,524 5.48 178,764 2,427 5.42
Credit card — domestic 64,980 2,168 13.38 68,169 2,180 12.97 56,858 1,748 12.19
Credit card — foreign 8,305 269 12.97 8,403 287 13.86 — — —
Home equity lines 67,182 1,231 7.35 64,198 1,112 7.02 60,571 1,011 6.63
Direct/Indirect consumer (3) 56,715 1,057 7.46 55,025 986 7.24 47,181 703 5.91
Other consumer (4) 10,804 294 294 10,357 272 10.59 6,653 182 11.01
Total consumer 405,214 7,750 7.66 390,948 7,361 7.60 350,027 6,071 6.90
Commercial — domestic 148,445 2,695 7.28 144,693 2,490 6.97 137,224 2,279 6.59
Commercial real estate (5) 36,749 680 7.41 36,676 632 6.99 36,017 597 6.58
Commercial lease financing 20,896 262 5.01 20,512 247 4.82 20,178 241 4.79
Commercial — foreign 24,345 456 7.52 23,139 427 7.48 20,143 379 7.45
Total Commercial
 230,435 4,093 7.12 225,020 3,796 6.83 213,562 3,496 6.50
Total loans and leases
 635,649 11,843 7.47 615,968 11,157 7.32 563,589 9,567 6.75
Other earning assets 51,928 808 6.24 46,618 718 6.22 40,582 594 5.83
Total earning
assets (6)
 1,253,895 19,593 6.26 1,219,611 18,389 6.08 1,145,550 16,261 5.65
Cash and cash equivalents 35,070     34,857     33,693    
Other assets, less allowance
for loan and lease losses 		167,039     161,905     125,814    
Total assets
$
1,456,004 		   
$
1,416,373 		   
$
1,305,057 		   
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings
$
35,681
$
76 		0.84
%
$
35,550
$
76 		0.87
%
$
35,535
$
68 		0.76
%
NOW and money
market deposit accounts
 221,198 996 1.81 227,606 908 1.62 224,122 721 1.28
Consumer CDs and IRAs 141,408 1,393 3.95 135,068 1,177 3.53 120,321 1,028 3.39
Negotiable CDs, public
funds and other time deposits
 13,005 123 3.80 8,551 70 3.30 5,085 27 2.13
Total domestic
interest-bearing deposits
 411,292 2,588 2.52 406,775 2,231 2.22 385,063 1,844 1.90
Foreign interest-bearing deposits:
Banks located
in foreign countries
 32,456 489 6.05 30,116 424 5.71 24,451 356 5.77
Governments and
official institutions
 13,428 155 4.63 10,200 107 4.25 7,579 74 3.84
Time, savings and other 37,178 276 2.98 35,136 245 2.83 32,624 202 2.46
Total foreign
interest-bearing deposits
 83,062 920 4.44 75,452 776 4.17 64,654 632 3.87
Total interest-
bearing deposits
 494,354 3,508 2.85 482,227 3,007 2.53 449,717 2,476 2.18
Federal funds purchased,
securities sold under agreements to repurchase and other short-term borrowings
 408,734 4,842 4.75 399,896 4,309 4.37 364,140 3,855 4.20
Trading account liabilities 61,263 596 3.90 52,466 517 3.99 56,880 619 4.32
Long-term debt 125,620 1,721 5.48 117,018 1,516 5.18 99,601 1,209 4.85
Total interest-
bearing
liabilities (6)
 1,089,971 10,667 3.92 1,051,607 9,349 3.60 970,338 8,159 3.34
Noninterest-bearing sources:
Noninterest-bearing deposits 180,442     177,594     179,205    
Other liabilities 58,218     56,019     55,566    
Shareholders' equity 127,373     131,153     99,948    
Total liabilities
and shareholders' equity
$
1,456,004 		   
$
1,416,373 		   
$
1,305,057 		   
Net interest spread     2.34
%
     2.48
%
     2.31
%
Impact of noninterest-
bearing sources
    0.51     0.50     0.51
Net interest
income/yield on earning assets (7)
  
$
8,926 		2.85
%
  
$
9,040 		2.98
%
  
$
8,102 		2.82
%

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