Trading Securities

12 Months Ended

Dec. 31, 2019

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure

Trading Securities

MAJOR SECURITY TYPES

Trading securities were as follows (dollars in millions):



	December 31,
	2019		2018
Non-mortgage-backed securities
Other U.S. obligations¹	$	150	$	159
GSE and Tennessee Valley Authority obligations	60		57
Other²	259		266
Total non-mortgage-backed securities	469		482
Mortgage-backed securities
GSE multifamily	419		433
Total fair value	$	888	$	915


1	Represents investment securities backed by the full faith and credit of the U.S. Government.


2	Consists of taxable municipal bonds.

NET GAINS (LOSSES) ON TRADING SECURITIES

The Bank did not sell any trading securities during the years ended December 31, 2019, 2018, and 2017. During the year ended December 31, 2019, the Bank recorded net holding gains of $28 million on its trading securities, compared to net holding losses of $15 million and net holding gains of $1 million for the same periods in 2018 and 2017.