Acquired Property Net

3 Months Ended

Mar. 31, 2013

Real Estate [Abstract]

Acquired Property, Net

Acquired Property, Net

Acquired property, net consists of held-for-sale foreclosed property received in full satisfaction of a loan, net of a valuation allowance for declines in the fair value of the properties after initial acquisition. We classify properties as held-for-sale when we intend to sell the property and are actively marketing it for sale. The following table displays the activity in acquired property, net of the related valuation allowance, for the three months ended March 31, 2013 and 2012.

	For the Three Months Ended March 31,
	2013			2012
	(Dollars in millions)
Beginning Balance, January 1	$	10,489		$	11,373
Additions	3,676			3,705
Disposals	(3,901		)	(4,300		)
Write-downs, net of recoveries	(115		)	(159		)
Ending Balance, March 31(1)	$	10,149		$	10,619

__________

⁽¹⁾  Includes valuation allowance of $570 million and $790 million as of March 31, 2013 and 2012, respectively.