Large bank holding companies and stand-alone banks reported $120 billion in bank-owned life insurance assets in 2007, up 16% from the 2006 total.

Researchers at Michael White Associates, Radnor, Pa., have published those figures in the firm’s 2008 edition of the BOLI Holdings Report.

The report gives the cash surrender values of the life insurance policies that banks and bank holding companies hold on bank and BHC employees.

The report also gives the ratios of cash surrender values to capital.

Federal regulators require banks and bank holding companies with more than $500 million in assets to report their BOLI assets.

The latest Michael White Associates BOLI report includes data for 7,700 commercial banks and savings banks, along with data for 857 bank holding companies.

About 81% of the 696 bank holding companies with more than $500 million in assets held some BOLI assets, up from 1.3% in 2006.