AVAILABLE-FOR SALE-SECURITIES

12 Months Ended

Dec. 31, 2010

AVAILABLE-FOR SALE-SECURITIES

NOTE 7 - AVAILABLE-FOR-SALE SECURITIES

The fair values and corresponding amortized cost of available-for-sale securities as of December 31 were:

	12/31/2010									12/31/2009
			Unrealized									Unrealized
	Amortized cost		Gains		Losses			Fair value		Amortized cost		Gains		Losses			Fair value
Investment funds		758		14		(2	)		770		1,247		13		(1	)		1,259
Brazilian federal government securities		10,681		268		(106	)		10,843		14,324		140		(21	)		14,443
Brazilian government external debt securities		4,965		202		(449	)		4,718		2,060		197		(277	)		1,980
Government debt securities – other countries		4,737		4		(182	)		4,559		7,261		25		(43	)		7,243
Portugal		-		-		-			-		26		-		-			26
United States		679		-		-			679		17		-		-			17
Austria		-		-		-			-		212		1		-			213
Denmark		2,109		-		(93	)		2,016		1,995		6		(30	)		1,971
Spain		777		-		(43	)		734		1,090		3		-			1,093
Korea		262		-		(26	)		236		1,750		12		(5	)		1,757
Chile		454		1		(2	)		453		1,278		3		(7	)		1,274
Paraguay		272		2		(18	)		256		417		-		-			417
Uruguay		184		1		-			185		476		-		(1	)		475
Corporate debt securities		22,179		460		(266	)		22,373		14,852		251		(137	)		14,966
Marketable equity securities		647		748		(22	)		1,373		893		869		(390	)		1,372
TOTAL		43,967		1,696		(1,027	)		44,636		40,637		1,495		(869	)		41,263

The amounts reclassified from Other Accumulated Comprehensive Income correspond to the following amounts :

	01/01 to 12/31/2010			01/01 to 12/31/2009			01/01 to 12/31/2008
Gross realized gains during the year upon sale of the securities		277			384			131
Gross realized losses during the year upon sale of the securities		(57	)		(173	)		(245	)
Other-than temporary impairment losses (Note 24b)		(20	)		(56	)		(53	)
Realized gain upon exchange of shares of Bovespa Holding S.A. (Note 24a)		-			-			424
TOTAL		200			155			257

The amortized cost and fair value of available-for-sale securities, by maturity, were as follows:

	12/31/2010
	Amortized cost		Fair value
Due within one year		14,378		13,647
From 1 to 5 years		11,816		11,992
From 5 to 10 years		7,252		7,416
After 10 years		5,810		6,081
No stated maturity		4,711		5,500
TOTAL		43,967		44,636

During the years ended December 31, 2010, 2009 and 2008 we recognized losses of R$ 20, R$ 56 and R$ 53, respectively, for impairment of available-for-sale securities under "Other non-interest expenses" in the consolidated statement of income.

As of December 31, 2010 and 2009, in our available-for-sale securities portfolio there are no securities in a continous loss position for over 12 months.