US Treasury Securities

The amortized cost of all held-to-maturity US Treasury securities not held in trading accounts. Includes all bills, certificates of indebtedness, notes, and bonds, including those issued under the Separate Trading of Registered Interest and Principal of Securities (STRIPS) program. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

US Government Agency and Corporation Obligations

The amortized cost of all US Government agency and corporation obligations (excluding mortgage pass-through securities, collateralized mortgage obligations (CMOs), and real estate mortgage investment conduits (REMICs)) not held in trading accounts. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

Amortized Cost of Obligations Issued by U.S. Government-Sponsored Agencies

The amortized cost of all obligations not held in trading accounts that have been issued by US Government-sponsored agencies. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

General Obligation Securities of States and Political Subdivisions

The amortized cost of all general obligation securities of states and political subdivisions in the US not held in trading accounts. General obligations are securities whose principal and interest will be paid from the general tax receipts of the state or political subdivision. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

Revenue Obligations of States and Political Subdivisions

The amortized cost of all revenue bonds and similar obligations of states and political subdivisions in the US not held in trading accounts. Revenue obligations are securities whose debt service is paid solely from the revenues of the projects financed by the securities rather than from general tax funds. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

Industrial Development and Similar Obligations of States and Political Subdivisions

The amortized cost of all industrial development bonds and similar obligations of states and political subdivisions in the US not held in trading accounts. Industrial development bonds and similar obligations are issued under the auspices of states or political subdivisions for the benefit of a private party or enterprise where that party or enterprise, rather than the government entity, is obligated to pay the principal and interest on the obligation. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

Pass-through Securities

The amortized cost of all holdings of certificates of participation in pools of residential mortgages, i.e. single-class pass-through securities. A certificate of participation in a pool of residential mortgages represents an undivided interest in a pool that provides the holder with a pro rata share of all principal and interest payments on the residential mortgages in the pool. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

Other Mortgage-backed Securities:

The amortized cost, for of all mortgage-backed securities other than pass-through securities that are not held for trading. This includes (1) all classes of collateralized mortgage obligations (CMOs) and real estate mortgage investments conduits (REMICs), (2) CMO and REMIC residuals and similar interests, and (3) Stripped mortgage-backed securities. This item includes amortized cost of all classes of CMOs and REMICs, CMO and REMIC residuals, and stripped mortgage-backed securities issued by the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC) or guaranteed by the Government National Mortgage Association (GNMA). Also included are REMICs issued by the U.S. Department of Veterans Affairs (VA). Also included is the amortized cost, for Held to maturity Securities, of all classes of CMOs, REMICs, CMO and REMIC residuals, and stripped mortgage-backed securities issued by non-U.S. Government issuers (e.g., other depository institutions, insurance companies, state and local housing authorities in the U.S.) for which the collateral consists of GNMA (Ginnie Mae) pass-throughs, FNMA (Fannie Mae) pass-throughs, FHLMC (Freddie Mac) participation certificates, or other mortgage-backed securities (i.e., classes of CMOs or REMICs, CMO or REMIC residuals, and stripped mortgage-backed securities) issued or guaranteed by FNMA, FHLMC, GNMA, or VA. Also included is the amortized cost, for Held to maturity Securities, of all CMOs, REMICs, CMO and REMIC residuals, and stripped mortgage-backed securities issued by non-U.S. Government issuers (e.g., other depository institutions, insurance companies, state and local housing authorities in the U.S.) for which the collateral does not consist of GNMA (Ginnie Mae) pass-throughs, FNMA (Fannie Mae) pass-throughs, FHLMC (Freddie Mac) participation certificates, or other mortgage-backed securities (i.e., classes of CMOs or REMICs, CMO or REMIC residuals, and stripped mortgage-backed securities) issued or guaranteed by FNMA, FHLMC, GNMA, or VA.

Other Debt Securities

The amortized cost of all foreign debt securities and all other domestic debt securities not held in trading accounts that cannot be reported elsewhere. Amortized cost is the purchase price of a debt security adjusted for amortization of premium or accretion of discount if the debt security was purchased at other than par or face value.

Pledged Securities, Book Value, (Consolidated)

The book value of all securities that are pledged to secure deposits, repurchase transactions, or other borrowings,as performance bonds under futures or forward contracts, or for any other purpose, for the fully consolidated bank. Many government deposits may require that the deposits be collateraized with US Treasury securities or other government securities. Pledging reduces the flexibility and liquidity of the securities portfolio.