Variable Interest Entities

3 Months Ended

Mar. 31, 2013

Variable Interest Entities

Variable Interest Entities

3. Variable Interest Entities

RTA, a subsidiary of RiverSource Life Insurance Company, has variable interests in affordable housing partnerships for which it is not the primary beneficiary and, therefore, does not consolidate.

RTA’s maximum exposure to loss as a result of its investments in the affordable housing partnerships is limited to the carrying values of these investments.  The carrying values are reflected in other investments and were $410 million and $409 million as of March 31, 2013 and December 31, 2012, respectively.  RTA has no obligation to provide financial or other support to the affordable housing partnerships in addition to liabilities already recorded for future funding commitments nor has it provided any additional support to the affordable housing partnerships.  The Company had liabilities of $123 million and $144 million recorded in other liabilities as of March 31, 2013 and December 31, 2012, respectively, related to the future funding commitments for affordable housing partnerships.