Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional and Fair Value Position [Table Text Block]

The following table displays the notional amount and estimated fair value of our asset and liability derivative instruments as of December 31, 2012 and 2011.

	As of December 31, 2012										As of December 31, 2011
	Asset Derivatives					Liability Derivatives					Asset Derivatives					Liability Derivatives
	Notional Amount		Estimated Fair Value			Notional Amount		Estimated Fair Value			Notional Amount		Estimated Fair Value			Notional Amount		Estimated Fair Value
	(Dollars in millions)
Risk management derivatives:
Swaps:
Pay-fixed	$	19,450	$	270		$	239,017	$	(18,237	)	$	30,950	$	102		$	155,807	$	(17,391	)
Receive-fixed	231,346		10,514			57,190		(200		)	170,668		8,118			59,027		(93		)
Basis	23,199		151			1,700		—			382		122			9,240		(44		)
Foreign currency	686		193			509		(45		)	581		155			451		(62		)
Swaptions:
Pay-fixed	33,050		102			36,225		(184		)	48,600		165			47,750		(194		)
Receive-fixed	15,970		3,572			36,225		(2,279		)	33,695		6,371			47,750		(3,238		)
Other(1)	7,374		26			13		(1		)	8,214		52			75		—
Total gross risk management derivatives	331,075		14,828			370,879		(20,946		)	293,090		15,085			320,100		(21,022		)
Accrued interest receivable (payable)	—		1,242			—		(1,508		)	—		920			—		(1,238		)
Netting adjustment(2)	—		(15,791		)	—		22,046			—		(15,829		)	—		21,898
Total net risk management derivatives	$	331,075	$	279		$	370,879	$	(408	)	$	293,090	$	176		$	320,100	$	(362	)

Mortgage commitment derivatives:
Mortgage commitments to purchase whole loans	$	12,360	$	27	$	5,232	$	(8	)	$	9,710	$	73	$	422	$	—
Forward contracts to purchase mortgage-related securities	34,545		103		12,557		(23		)	32,707		309		2,570		(6		)
Forward contracts to sell mortgage-related securities	18,886		26		75,477		(266		)	1,370		3		54,656		(548		)
Total mortgage commitment derivatives	$	65,791	$	156	$	93,266	$	(297	)	$	43,787	$	385	$	57,648	$	(554	)
Derivatives at fair value	$	396,866	$	435	$	464,145	$	(705	)	$	336,877	$	561	$	377,748	$	(916	)

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⁽¹⁾  Includes interest rate caps, futures, swap credit enhancements and mortgage insurance contracts that we account for as derivatives. The mortgage insurance contracts have payment provisions that are not based on a notional amount.

⁽²⁾  The netting adjustment represents the effect of the legal right to offset under legally enforceable master netting agreements to settle with the same counterparty on a net basis, including cash collateral posted and received. Cash collateral posted was $6.3 billion and $6.8 billion as of December 31, 2012 and 2011, respectively. No cash collateral was received as of December 31, 2012 and $779 million was received as of December 31, 2011.

Fair Value Gain (Loss), Net [Table Text Block]

The following table displays, by type of derivative instrument, the fair value gains and losses, net on our derivatives for the years ended December 31, 2012, 2011 and 2010.

	For the Year Ended December 31,
	2012			2011			2010
	(Dollars in millions)
Risk management derivatives:
Swaps:
Pay-fixed	$	(6,681	)	$	(18,040	)	$	(17,573	)
Receive-fixed	4,052			7,939			14,382
Basis	99			86			17
Foreign currency	75			156			157
Swaptions:
Pay-fixed	132			860			(2,026		)
Receive-fixed	410			2,932			3,327
Other(1)	(25		)	(72		)	(91		)
Total risk management derivatives fair value losses, net	(1,938		)	(6,139		)	(1,807		)
Mortgage commitment derivatives fair value losses, net	(1,688		)	(423		)	(1,193		)
Total derivatives fair value losses, net	$	(3,626	)	$	(6,562	)	$	(3,000	)

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⁽¹⁾  Includes interest rate caps, futures, swap credit enhancements and mortgage insurance contracts.