v2.4.0.6

Condensed Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
ASSETS
Investment in affiliate partnership preferred securities	$ 773,196	$ 773,196
Interest receivable from affiliate	13,531	0
Total Assets	786,727	773,196
LIABILITIES
Distribution payable	13,531	0
STOCKHOLDERS' EQUITY
Preferred securities (7% Trust Originated Preferred Securities; 30,000,000 authorized, issued, and outstanding; $25 liquidation amount per security)	750,000	750,000
Common securities (7% Trust Common Securities; 927,840 authorized, issued, and outstanding; $25 liquidation amount per security)	23,196	23,196
Total Stockholders' Equity	773,196	773,196
Total Liabilities and Stockholders' Equity	$ 786,727	$ 773,196

Distribution payable-amountofdistributionsaccruedasofthebalancesheetdatethatispayabletothirdpartyinvestors

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

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Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.

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Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership.

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Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

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MERRILL LYNCH PREFERRED FUNDING III LP 10-Q