193 The table below shows the composition by credit quality of debt securities, available-for-sale, in an unrealized loss position held by  Aegon Americas, Aegon the Netherlands and Aegon UK.  Unrealized loss by credit quality December 31, 2013 December 31, 2012 Carrying value of  securities with  gross unrealized  losses Gross unrealized  losses Carrying value of  securities with gross unrealized  losses Gross unrealized  losses Treasury Agency 6,015 (452) 1,748 (18) AAA 2,047 (76) 1,029 (17) AA 2,482 (102) 1,417 (109) A 4,202 (242) 2,079 (174) BBB 5,529 (382) 3,031 (355) BB 1,059 (158) 1,114 (228) B 497 (75) 701 (207) Below B 463 (88) 471 (233) Total 22,293 (1,575) 11,590 (1,341) At December 31, 2013 Investment grade  carrying value of securities with gross  unrealized losses Below investment  grade carrying  value of securi­ ties with gross  unrealized losses Investment grade  unrealized loss Below investment  grade unrealized  loss 0 – 6 months 9,171 513 (303) (27) 6 – 12 months 7,313 253 (583) (32) > 12 months 3,791 1,253 (368) (263) Total 20,275 2,019 (1,253) (322) The table below provides the length of time a security has been below cost and the respective unrealized loss. The majority of the unrealized losses relate to investment grade holdings resulting from the increase in interest rates during the second  half of 2013.  Investment grade  carrying value of  securities with gross unrealized  losses Below investment  grade carrying value  of securities with  gross unrealized  losses Investment grade  unrealized loss Below investment  grade unrealized  loss 0 – 6 months 3,258 245 (104) (8) 6 – 12 months 507 59 (21) (4) > 12 months 5,539 1,982 (548) (656) Total 9,304 2,286 (673) (668) At December 31, 2012