美林证券XXXX年度报告

TableofContentsUNITEDSTATESSECURITIESANDEXCHANGECOMMISSIONWashington,D.C.20549FORM10-KXANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934ForthefiscalyearendedDecember31,2012Commissionfilenumber:1-7182MERRILLLYNCH&CO.,INC.(ExactnameofRegistrantasspecifiedinitscharter)Delaware13-2740599(Stateorotherjurisdictionofincorporationororganization)(I.R.S.EmployerIdentificationNo.)BankofAmericaCorporateCenter100N.TryonStreetCharlotte,NorthCarolina28255(Addressofprincipalexecutiveoffices)(ZipCode)[phone]Registrant’stelephonenumber,includingareacode:SecuritiesregisteredpursuanttoSection12(b)oftheAct:TitleofEachClassNameofEachExchangeonWhichRegisteredTrustPreferredSecuritiesofMerrillLynchCapitalTrustI(andtheguaranteeoftheRegistrantwithrespectthereto);TrustPreferredSecuritiesofMerrillLynchCapitalTrustII(andtheguaranteeoftheRegistrantwithrespectthereto);TrustPreferredSecuritiesofMerrillLynchCapitalTrustIII(andtheguaranteeoftheRegistrantwithrespectthereto)NewYorkStockExchangeSecuritiesregisteredpursuanttoSection12(g)oftheAct:NoneIndicatebycheckmarkiftheRegistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct._YESXNOIndicatebycheckmarkiftheRegistrantisnotrequiredtofilereportspursuanttoSection13orSection15(d)oftheExchangeAct.YESXNOIndicatebycheckmarkwhethertheRegistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheRegistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.XYESNOIndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyandpostedonitscorporateWebsite,ifany,everyInteractiveDataFilerequiredtobesubmittedandpostedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitandpostsuchfiles).XYESNOIndicatebycheckmarkifdisclosureofdelinquentfilerspursuanttoItem405ofRegulationS-Kisnotcontainedherein,andwillnotbecontained,tothebestoftheRegistrant’sknowledge,indefinitiveproxyorinformationstatementsincorporatedbyreferenceinPartIIIofthisForm10-KoranyamendmenttothisForm10-K.XIndicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,orasmallerreportingcompany.Seethedefinitionsof“largeacceleratedfiler,”“acceleratedfiler”and“smallerreportingcompany”inRule12b-2oftheExchangeAct.(Checkone):LargeacceleratedfilerAcceleratedfilerNon-acceleratedfilerXSmallerreportingcompany(Donotcheckifasmallerreportingcompany)IndicatebycheckmarkwhethertheRegistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct).YESXNOAsofthecloseofbusinessonJune30,2012,therewasnovotingcommonequityoftheRegistrant(CommonStock)heldbynon-affiliates.TheRegistranthasnonon-votingCommonStock.AsofthecloseofbusinessonFebruary28,2013,therewere1,000sharesofCommonStockoutstanding,allofwhichwereheldbyBankofAmericaCorporation.TheRegistrantisawholly-ownedsubsidiaryofBankofAmericaCorporationandmeetstheconditionssetforthinGeneralInstructionsI(1)(a)and(b)ofForm10-KandisthereforefilingthisFormwithareduceddisclosureformataspermittedbyInstructionI(2).TableofContentsANNUALREPORTONFORM10-KFORTHEYEARENDEDDECEMBER31,2012TABLEOFCONTENTSPartIItem1.Business3Item1A.RiskFactors4Item1B.UnresolvedStaffComments21Item2.Properties22Item3.LegalProceedings22Item4.MineSafetyDisclosures22PartIIItem5.MarketforRegistrant’sCommonEquity,RelatedStockholderMattersandIssuerPurchasesofEquitySecurities23Item6.SelectedFinancialData23Item7.Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations24Introduction25ExecutiveOverview26ResultsofOperations29Off-BalanceSheetExposures32FundingandLiquidity39Item7A.QuantitativeandQualitativeDisclosuresaboutMarketRisk43Item8.FinancialStatementsandSupplementaryData50ReportofIndependentRegisteredPublicAccountingFirm50ConsolidatedFinancialStatementsConsolidatedStatementsofEarnings(Loss)51ConsolidatedStatementsofComprehensive(Loss)Income52ConsolidatedBalanceSheets53ConsolidatedStatementsofChangesinStockholder'sEquity55ConsolidatedStatementsofCashFlows56NotestoConsolidatedFinancialStatements57Note1.SummaryofSignificantAccountingPolicies57Note2.TransactionswithBankofAmerica68Note3.SegmentandGeographicInformation70Note4.FairValueDisclosures71Note5.FairValueofFinancialInstruments82Note6.Derivatives84Note7.SecuritiesFinancingTransactions96Note8.InvestmentSecurities97Note9.SecuritizationsandOtherVariableInterestEntities(“VIEs”)100Note10.Loans,NotesandMortgages106Note11.GoodwillandIntangibleAssets109Note12.BorrowingsandDeposits110Note13.Stockholder'sEquityandEarningsPerShare114Note14.Commitments,ContingenciesandGuarantees115Note15.EmployeeBenefitPlans130Note16.EmployeeIncentivePlans138Note17.IncomeTaxes142Note18.RegulatoryRequirements145Note19.QuarterlyInformation(Unaudited)146Note20.SaleofInternationalWealthManagementBusinessesandBrokerageJointVentureInvestment146Note21.ParentCompanyInformation147Item9.ChangesinandDisagreementswithAccountantsonAccounti