Variable Interest Entities

6 Months Ended

Jun. 30, 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 $427 million and $409 million as of June 30, 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 $113 million and $144 million recorded in other liabilities as of June 30, 2013 and December 31, 2012, respectively, related to the future funding commitments for affordable housing partnerships.