Pledged Assets (Tables)

12 Months Ended

Dec. 31, 2022

Pledged Assets [Abstract]

Schedule of Securities and Cash Pledged as Collateral from Counterparties [Table Text Block]

As of December 31, 2022 and 2021, we had assets pledged to us from counterparties as collateral under our reverse repurchase and derivative agreements summarized in the tables below (in millions).

	December 31, 2022								December 31, 2021
Assets Pledged to AGNC	Reverse Repurchase Agreements		Derivative Agreements		Repurchase Agreements		Total		Reverse Repurchase Agreements		Derivative Agreements		Repurchase Agreements		Total
U.S. Treasury securities - fair value 1	$	6,572	$	—	$	28	$	6,600	$	10,420	$	—	$	11	$	10,431
Cash	46		296		6		348		—		303		7		310
Total	$	6,618	$	296	$	34	$	6,948	$	10,420	$	303	$	18	$	10,741

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1.As of December 31, 2022 and 2021, amounts include $6.5 billion and $9.7 billion, respectively, of U.S. Treasury securities received from counterparties that were used to cover short sales of U.S. Treasury securities.

Schedule of Financial Instruments Owned and Pledged as Collateral

The following tables summarize our assets pledged as collateral under our funding, derivative and brokerage and clearing agreements by type, including securities pledged related to securities sold but not yet settled, as of December 31, 2022 and 2021 (in millions):

	December 31, 2022
Assets Pledged to Counterparties 1	Repurchase Agreements 2		Debt of Consolidated VIEs		Derivative Agreements and Other 3		Total
Agency RMBS - fair value	$	35,765	$	144	$	203	$	36,112
CRT - fair value	703		—		—		703
Non-Agency - fair value	605		—		—		605
U.S. Treasury securities - fair value	353		—		—		353
Accrued interest on pledged securities	127		1		—		128
Restricted cash	211		—		1,105		1,316
Total	$	37,764	$	145	$	1,308	$	39,217

	December 31, 2021
Assets Pledged to Counterparties 1	Repurchase Agreements 2		Debt of Consolidated VIEs		Derivative Agreements and Other 3		Total
Agency RMBS - fair value	$	46,943	$	208	$	739	$	47,890
CRT - fair value	510		—		—		510
Non-Agency - fair value	571		—		—		571
U.S. Treasury securities - fair value	1,084		—		208		1,292
Accrued interest on pledged securities	117		1		2		120
Restricted cash	15		—		512		527
Total	$	49,240	$	209	$	1,461	$	50,910

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1.Includes repledged assets received as collateral from counterparties and securities sold but not yet settled.

2.Includes $49 million and $81 million of retained interests in our consolidated VIEs pledged as collateral under repurchase agreements as of December 31, 2022 and 2021, respectively.

3.Includes deposits under brokerage and clearing agreements.

Offsetting Assets and Liabilities

The following tables present information about our assets and liabilities that are subject to master netting arrangements and can potentially be offset on our consolidated balance sheets as of December 31, 2022 and 2021 (in millions):

	Offsetting of Financial and Derivative Assets
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset  in the Consolidated Balance Sheets				Net Amount
							Financial Instruments		Collateral Received 2
December 31, 2022
Interest rate swap and swaption agreements, at fair value 1	$	295	$	—	$	295	$	—	$	(293)	$	2
TBA and forward settling non-Agency securities, at fair value 1	266		—		266		(99)		(167)		—
Receivable under reverse repurchase agreements	6,622		—		6,622		(4,007)		(2,610)		5
Total	$	7,183	$	—	$	7,183	$	(4,106)	$	(3,070)	$	7
December 31, 2021
Interest rate swap and swaption agreements, at fair value 1	$	290	$	—	$	290	$	—	$	(290)	$	—
TBA securities, at fair value 1	27		—		27		(27)		—		—
Receivable under reverse repurchase agreements	10,475		—		10,475		(6,087)		(4,381)		7
Total	$	10,792	$	—	$	10,792	$	(6,114)	$	(4,671)	$	7

Offsetting Liabilities

The following tables present information about our assets and liabilities that are subject to master netting arrangements and can potentially be offset on our consolidated balance sheets as of December 31, 2022 and 2021 (in millions):

	Offsetting of Financial and Derivative Assets
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset  in the Consolidated Balance Sheets				Net Amount
							Financial Instruments		Collateral Received 2
December 31, 2022
Interest rate swap and swaption agreements, at fair value 1	$	295	$	—	$	295	$	—	$	(293)	$	2
TBA and forward settling non-Agency securities, at fair value 1	266		—		266		(99)		(167)		—
Receivable under reverse repurchase agreements	6,622		—		6,622		(4,007)		(2,610)		5
Total	$	7,183	$	—	$	7,183	$	(4,106)	$	(3,070)	$	7
December 31, 2021
Interest rate swap and swaption agreements, at fair value 1	$	290	$	—	$	290	$	—	$	(290)	$	—
TBA securities, at fair value 1	27		—		27		(27)		—		—
Receivable under reverse repurchase agreements	10,475		—		10,475		(6,087)		(4,381)		7
Total	$	10,792	$	—	$	10,792	$	(6,114)	$	(4,671)	$	7

	Offsetting of Financial and Derivative Liabilities
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset  in the Consolidated Balance Sheets				Net Amount
							Financial Instruments		Collateral Pledged 2
December 31, 2022
TBA securities, at fair value 1	$	99	$	—	$	99	$	(99)	$	—	$	—
Repurchase agreements	36,262		—		36,262		(4,007)		(32,255)		—
Total	$	36,361	$	—	$	36,361	$	(4,106)	$	(32,255)	$	—
December 31, 2021
Repurchase agreements	$	47,381	$	—	$	47,381	$	(6,087)	$	(41,294)	$	—
Total	$	47,452	$	—	$	47,452	$	(6,114)	$	(41,338)	$	—

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1.Reported under derivative assets / liabilities, at fair value in the accompanying consolidated balance sheets. Refer to Note 5 for a reconciliation of derivative assets / liabilities, at fair value to their sub-components.

2.Includes cash and securities pledged / received as collateral, at fair value. Amounts include repledged collateral. Amounts presented are limited to collateral pledged sufficient to reduce the net amount to zero for individual counterparties, as applicable.

Schedules Of Securities Pledged As Collateral Under Repurchase Agreement

The following table summarizes our securities pledged as collateral under our repurchase agreements by the remaining maturity of our borrowings, including securities pledged related to sold but not yet settled securities, as of December 31, 2022 and 2021 (in millions). For the corresponding borrowings associated with the following amounts and the interest rates thereon, refer to Note 4.

	December 31, 2022						December 31, 2021
Securities Pledged by Remaining Maturity of Repurchase Agreements 1,2	Fair Value of Pledged Securities		Amortized Cost of Pledged Securities		Accrued Interest on Pledged Securities		Fair Value of Pledged Securities		Amortized Cost of Pledged Securities		Accrued Interest on Pledged Securities
≤ 30 days	$	27,525	$	30,168	$	94	$	24,548	$	24,075	$	61
> 30 and ≤ 60 days	7,922		8,680		27		7,869		7,735		19
> 60 and ≤ 90 days	240		252		—		7,006		6,906		16
> 90 days	1,739		1,870		6		9,073		9,036		21
Total	$	37,426	$	40,970	$	127	$	48,496	$	47,752	$	117

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1.Includes $49 million and $81 million of retained interests in our consolidated VIEs pledged as collateral under repurchase agreements as of December 31, 2022 and 2021, respectively.

2.Excludes zero and $0.6 billion of repledged U.S. Treasury securities received as collateral from counterparties as of December 31, 2022 and 2021, respectively.