TRADING ASSETS (Tables)

12 Months Ended

Dec. 31, 2010

Trading Securities (and Certain Trading Assets) [Table Text Block]

NOTE 6 – TRADING ASSETS

Trading assets, stated at fair value, are presented in the following table :

	12/31/2010		12/31/2009
Investment funds (*)		47,304		39,347
Brazilian federal government securities		69,661		23,985
Brazilian government external debt securities		667		222
Government debt securities – other countries		9,353		1,058
Argentina		293		179
United States		8,714		748
Mexico		29		10
Russia		45		-
Chile		248		77
Uruguay		24		30
Other		-		14
Corporate debt securities		3,404		2,226
Marketable equity securities		1,825		1,142
Derivative financial instruments		7,789		5,549
Options		1,752		1,819
Forwards		2,060		378
Swaps		2,987		2,900
Credit derivatives		261		15
Other derivatives		729		437
TOTAL		140,003		73,529

(*) Includes investment funds with respect to investment contracts (see Note 2q).

Net unrealized (losses) gains included in trading assets as of December 31, 2010, 2009 and 2008 amounted to R$ 971, R$ 559 and R$ 1,414, respectively.

The net change in unrealized gain or loss on trading assets held as of December 31, 2010, 2009 and 2008 was R$ 412, R$ (855) and R$ 1,153, respectively.

- Definition

Tabular disclosure of trading securities (and certain trading assets) which consist of all investments in certain debt and equity securities (and other assets) that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for which an entity has elected the fair value option. Trading generally reflects active and frequent buying and selling, and trading securities are generally used with the objective of generating profits on short-term differences in price, but this category of investments may also include items which are not intended to be sold in the near term or for which the fair value option has been elected.

+ References

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details