Fair Value (Tables)

6 Months Ended

Jun. 30, 2013

Recurring Changes in Fair Value [Table Text Block]

The following tables display our assets and liabilities measured in our condensed consolidated balance sheets at fair value on a recurring basis subsequent to initial recognition, including instruments for which we have elected the fair value option as of June 30, 2013 and December 31, 2012.



		Fair Value Measurements as of June 30, 2013
	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Netting Adjustment⁽¹⁾				Estimated Fair Value
		(Dollars in millions)
Recurring fair value measurements:
Assets:
Cash equivalents⁽²⁾		$	6,725		$	—		$	—		$	—			$	6,725
Trading securities:
Mortgage-related securities:
Fannie Mae		—			6,146			52			—				6,198
Freddie Mac		—			2,845			2			—				2,847
Ginnie Mae		—			351			2			—				353
Alt-A private-label securities		—			778			703			—				1,481
Subprime private-label securities		—			—			1,488			—				1,488
CMBS		—			8,633			—			—				8,633
Mortgage revenue bonds		—			—			603			—				603
Other		—			—			109			—				109
U.S. Treasury securities		18,477			—			—			—				18,477
Total trading securities		18,477			18,753			2,959			—				40,189
Available-for-sale securities:
Mortgage-related securities:
Fannie Mae		—			8,085			10			—				8,095
Freddie Mac		—			7,869			9			—				7,878
Ginnie Mae		—			668			—			—				668
Alt-A private-label securities		—			4,119			7,008			—				11,127
Subprime private-label securities		—			—			7,862			—				7,862
CMBS		—			10,445			—			—				10,445
Mortgage revenue bonds		—			4			6,400			—				6,404
Other		—			6			3,051			—				3,057
Total available-for-sale securities		—			31,196			24,340			—				55,536
Mortgage loans of consolidated trusts		—			10,809			2,961			—				13,770
Other assets:
Risk management derivatives:
Swaps		—			11,441			78			—				11,519
Swaptions		—			1,786			—			—				1,786
Other		—			—			27			—				27
Netting adjustment		—			—			—			(12,073		)		(12,073		)
Mortgage commitment derivatives		—			2,190			—			—				2,190
Total other assets		—			15,417			105			(12,073		)		3,449
Total assets at fair value		$	25,202		$	76,175		$	30,365		$	(12,073	)		$	119,669



		Fair Value Measurements as of June 30, 2013
	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Netting Adjustment⁽¹⁾				Estimated Fair Value
		(Dollars in millions)
Liabilities:
Long-term debt:
Of Fannie Mae:
Senior fixed		$	—		$	383		$	—		$	—		$	383
Senior floating		—			—			337			—			337
Total of Fannie Mae		—			383			337			—			720
Of consolidated trusts		—			13,524			1,077			—			14,601
Total long-term debt		—			13,907			1,414			—			15,321
Other liabilities:
Risk management derivatives:
Swaps		—			14,882			121			—			15,003
Swaptions		—			2,015			—			—			2,015
Netting adjustment		—			—			—			(15,785		)	(15,785		)
Mortgage commitment derivatives		—			1,638			33			—			1,671
Total other liabilities		—			18,535			154			(15,785		)	2,904
Total liabilities at fair value		$	—		$	32,442		$	1,568		$	(15,785	)	$	18,225



		Fair Value Measurements as of December 31, 2012
	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Netting Adjustment⁽¹⁾				Estimated Fair Value
		(Dollars in millions)
Assets:
Cash equivalents⁽²⁾		$	1,150		$	—		$	—		$	—			$	1,150
Trading securities:
Mortgage-related securities:
Fannie Mae		—			6,180			68			—				6,248
Freddie Mac		—			2,791			2			—				2,793
Ginnie Mae		—			436			1			—				437
Alt-A private-label securities		—			1,226			104			—				1,330
Subprime private-label securities		—			—			1,319			—				1,319
CMBS		—			9,826			—			—				9,826
Mortgage revenue bonds		—			—			675			—				675
Other		—			—			117			—				117
U.S. Treasury securities		17,950			—			—			—				17,950
Total trading securities		17,950			20,459			2,286			—				40,695
Available-for-sale securities:
Mortgage-related securities:
Fannie Mae		—			10,406			29			—				10,435
Freddie Mac		—			9,370			10			—				9,380
Ginnie Mae		—			751			—			—				751
Alt-A private-label securities		—			4,511			6,564			—				11,075
Subprime private-label securities		—			—			7,447			—				7,447
CMBS		—			13,097			—			—				13,097
Mortgage revenue bonds		—			5			7,837			—				7,842
Other		—			7			3,147			—				3,154
Total available-for-sale securities		—			38,147			25,034			—				63,181
Mortgage loans of consolidated trusts		—			8,166			2,634			—				10,800
Other assets:
Risk management derivatives:
Swaps		—			12,224			146			—				12,370
Swaptions		—			3,674			—			—				3,674
Other		—			—			26			—				26
Netting adjustment		—			—			—			(15,791		)		(15,791		)
Mortgage commitment derivatives		—			153			3			—				156
Total other assets		—			16,051			175			(15,791		)		435
Total assets at fair value		$	19,100		$	82,823		$	30,129		$	(15,791	)		$	116,261



		Fair Value Measurements as of December 31, 2012
	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Netting Adjustment⁽¹⁾				Estimated Fair Value
		(Dollars in millions)
Liabilities:
Long-term debt:
Of Fannie Mae:
Senior fixed		$	—		$	393		$	—		$	—			$	393
Senior floating		—			—			400			—				400
Total of Fannie Mae		—			393			400			—				793
Of consolidated trusts		—			10,519			1,128			—				11,647
Total long-term debt		—			10,912			1,528			—				12,440
Other liabilities:
Risk management derivatives:
Swaps		—			19,836			154			—				19,990
Swaptions		—			2,463			—			—				2,463
Other		—			1			—			—				1
Netting adjustment		—			—			—			(22,046		)		(22,046		)
Mortgage commitment derivatives		—			290			7			—				297
Total other liabilities		—			22,590			161			(22,046		)		705
Total liabilities at fair value		$	—		$	33,502		$	1,689		$	(22,046	)		$	13,145

__________


⁽¹⁾	Derivative contracts are reported on a gross basis by level. 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.


⁽²⁾	Cash equivalents are comprised of U.S. Treasuries that are classified as Level 1.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Table Text Block]

The following tables display a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2013 and 2012. The tables also display gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized in our condensed consolidated statements of operations and comprehensive income for Level 3 assets and liabilities for the three and six months ended June 30, 2013 and 2012. When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period.



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	For the Three Months Ended June 30, 2013
				Total (Losses) or Gains (Realized/Unrealized)																										Net Unrealized (Losses) Gains Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2013⁽⁵⁾
	Balance, March 31, 2013			Included in Net Income			Included in Other Comprehensive Income⁽¹⁾				Purchases⁽²⁾		Sales⁽²⁾		Issues⁽³⁾			Settlements⁽³⁾			Transfers out of Level 3⁽⁴⁾			Transfers into Level 3⁽⁴⁾			Balance, June 30, 2013
	(Dollars in millions)
Trading securities:
Mortgage-related:
Fannie Mae	$	61		$	(3	)		$	—		$	—	$	—	$	—		$	(6	)	$	—		$	—		$	52			$	(3	)
Freddie Mac	2			—				—			—		—		—			—			—			—			2				—
Ginnie Mae	—			—				—			—		—		—			—			—			2			2				—
Alt-A private-label securities	464			32				—			—		—		—			(39		)	(162		)	408			703				31
Subprime private-label securities	1,446			80				—			—		—		—			(38		)	—			—			1,488				79
Mortgage revenue bonds	661			(56		)		—			—		—		—			(2		)	—			—			603				(56		)
Other	118			(6		)		—			—		—		—			(3		)	—			—			109				(6		)
Total trading securities	$	2,752		$	47			$	—		$	—	$	—	$	—		$	(88	)	$	(162	)	$	410		$	2,959			$	45

Available-for-sale securities:
Mortgage-related:
Fannie Mae	$	12		$	—			$	(1	)	$	—	$	—	$	—		$	(1	)	$	—		$	—		$	10			$	—
Freddie Mac	9			—				(1		)	—		—		—			—			—			1			9				—
Alt-A private-label securities	6,112			11				249			—		—		—			(401		)	(773		)	1,810			7,008				—
Subprime private-label securities	7,868			46				234			—		—		—			(286		)	—			—			7,862				—
Mortgage revenue bonds	7,351			12				(253		)	—		—		—			(710		)	—			—			6,400				—
Other	3,099			1				55			—		—		—			(104		)	—			—			3,051				—
Total available-for-sale securities	$	24,451		$	70			$	283		$	—	$	—	$	—		$	(1,502	)	$	(773	)	$	1,811		$	24,340			$	—

Mortgage loans of consolidated trusts	$	2,882		$	30			$	—		$	85	$	—	$	—		$	(122	)	$	(51	)	$	137		$	2,961			$	25
Net derivatives	(7		)	(89		)		—			—		—		—			31			16			—			(49		)		(44		)
Long-term debt:
Of Fannie Mae:
Senior floating	$	(383	)	$	46			$	—		$	—	$	—	$	—		$	—		$	—		$	—		$	(337	)		$	46
Of consolidated trusts	(1,077		)	(66		)		—			—		—		(5		)	56			57			(42		)	(1,077		)		(69		)
Total long-term debt	$	(1,460	)	$	(20	)		$	—		$	—	$	—	$	(5	)	$	56		$	57		$	(42	)	$	(1,414	)		$	(23	)



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	For the Six Months Ended June 30, 2013
				Total (Losses) or Gains (Realized/Unrealized)																											Net Unrealized (Losses) Gains Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2013⁽⁵⁾
	Balance, December 31, 2012			Included in Net Income			Included in Other Comprehensive Income⁽¹⁾				Purchases⁽²⁾		Sales⁽²⁾			Issues⁽³⁾			Settlements⁽³⁾			Transfers out of Level 3⁽⁴⁾			Transfers into Level 3⁽⁴⁾			Balance, June 30, 2013
	(Dollars in millions)
Trading securities:
Mortgage-related:
Fannie Mae	$	68		$	(6	)		$	—		$	—	$	—		$	—		$	(10	)	$	—		$	—		$	52			$	(6	)
Freddie Mac	2			—				—			—		—			—			—			—			—			2				—
Ginnie Mae	1			—				—			—		—			—			(1		)	—			2			2				—
Alt-A private label securities	104			127				—			—		—			—			(55		)	(206		)	733			703				121
Subprime private-label securities	1,319			239				—			—		—			—			(70		)	—			—			1,488				239
Mortgage revenue bonds	675			(69		)		—			—		—			—			(3		)	—			—			603				(69		)
Other	117			(4		)		—			—		—			—			(4		)	—			—			109				(4		)
Total trading securities	$	2,286		$	287			$	—		$	—	$	—		$	—		$	(143	)	$	(206	)	$	735		$	2,959			$	281

Available-for-sale securities:
Mortgage-related:
Fannie Mae	$	29		$	—			$	(1	)	$	—	$	—		$	—		$	(4	)	$	(14	)	$	—		$	10			$	—
Freddie Mac	10			—				(1		)	—		—			—			(1		)	—			1			9				—
Alt-A private-label securities	6,564			20				467			—		—			—			(669		)	(1,965		)	2,591			7,008				—
Subprime private-label securities	7,447			90				911			—		—			—			(586		)	—			—			7,862				—
Mortgage revenue bonds	7,837			10				(282		)	—		(19		)	—			(1,146		)	—			—			6,400				—
Other	3,147			5				99			—		—			—			(200		)	—			—			3,051				—
Total available-for-sale securities	$	25,034		$	125			$	1,193		$	—	$	(19	)	$	—		$	(2,606	)	$	(1,979	)	$	2,592		$	24,340			$	—

Mortgage loans of consolidated trusts	$	2,634		$	57			$	—		$	243	$	—		$	—		$	(234	)	$	(89	)	$	350		$	2,961			$	(393	)
Net derivatives	14			(129		)		—			—		—			—			54			16			(4		)	(49		)		(61		)
Long-term debt:
Of Fannie Mae:
Senior floating	$	(400	)	$	63			$	—		$	—	$	—		$	—		$	—		$	—		$	—		$	(337	)		$	63
Of consolidated trusts	(1,128		)	(120		)		—			—		—			(20		)	105			170			(84		)	(1,077		)		245
Total long-term debt	$	(1,528	)	$	(57	)		$	—		$	—	$	—		$	(20	)	$	105		$	170		$	(84	)	$	(1,414	)		$	308



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	For the Three Months Ended June 30, 2012
				Total (Losses) or Gains (Realized/Unrealized)																											Net Unrealized (Losses) Gains Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2012⁽⁵⁾
	Balance, March 31, 2012			Included in Net Income			Included in Other Comprehensive Income⁽¹⁾				Purchases⁽²⁾		Sales⁽²⁾			Issues⁽³⁾			Settlements⁽³⁾			Transfers out of Level 3⁽⁴⁾			Transfers into Level 3⁽⁴⁾			Balance, June 30, 2012
	(Dollars in millions)
Trading securities:
Mortgage-related:
Fannie Mae	$	89		$	(3	)		$	—		$	—	$	—		$	—		$	(4	)	$	—		$	—		$	82			$	(2	)
Freddie Mac	2			—				—			—		—			—			—			—			—			2				—
Alt-A private label securities	569			56				—			—		—			—			(50		)	(416		)	29			188				7
Subprime private-label securities	1,305			(37		)		—			—		—			—			(42		)	—			—			1,226				(37		)
Mortgage revenue bonds	668			28				—			—		—			—			(7		)	—			—			689				28
Other	123			(3		)		—			—		—			—			(2		)	—			—			118				(3		)
Total trading securities	$	2,756		$	41			$	—		$	—	$	—		$	—		$	(105	)	$	(416	)	$	29		$	2,305			$	(7	)

Available-for-sale securities:
Mortgage-related:
Fannie Mae	$	37		$	—			$	—		$	5	$	(5	)	$	—		$	(3	)	$	—		$	—		$	34			$	—
Freddie Mac	11			—				—			—		—			—			—			—			—			11				—
Alt-A private-label securities	7,136			(85		)		127			—		—			—			(275		)	(922		)	475			6,456				—
Subprime private-label securities	7,595			(230		)		203			—		—			—			(338		)	—			—			7,230				—
Mortgage revenue bonds	9,732			1				117			—		(18		)	—			(479		)	—			—			9,353				—
Other	3,342			8				(12		)	—		—			—			(94		)	—			—			3,244				—
Total available-for-sale securities	$	27,853		$	(306	)		$	435		$	5	$	(23	)	$	—		$	(1,189	)	$	(922	)	$	475		$	26,328			$	—

Mortgage loans of consolidated trusts	$	2,271		$	47			$	—		$	142	$	—		$	—		$	(110	)	$	(26	)	$	7		$	2,331			$	43
Net derivatives	44			8				—			—		—			(3		)	25			—			—			74				19
Long-term debt:
Of Fannie Mae:
Senior floating	$	(399	)	$	(13	)		$	—		$	—	$	—		$	—		$	—		$	—		$	—		$	(412	)		$	(13	)
Of consolidated trusts	(950		)	(51		)		—			—		—			(218		)	50			—			(150		)	(1,319		)		(51		)
Total long-term debt	$	(1,349	)	$	(64	)		$	—		$	—	$	—		$	(218	)	$	50		$	—		$	(150	)	$	(1,731	)		$	(64	)



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	For the Six Months Ended June 30, 2012
				Total Gains or (Losses) (Realized/Unrealized)																											Net Unrealized (Losses) Gains Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2012⁽⁵⁾
	Balance, December 31, 2011			Included in Net Income			Included in Other Comprehensive Income⁽¹⁾				Purchases⁽²⁾		Sales⁽²⁾			Issues⁽³⁾			Settlements⁽³⁾			Transfers out of Level 3⁽⁴⁾			Transfers into Level 3⁽⁴⁾			Balance, June 30, 2012
	(Dollars in millions)
Trading securities:
Mortgage-related:
Fannie Mae	$	1,737		$	2			$	—		$	—	$	(33	)	$	—		$	(108	)	$	(1,581	)	$	65		$	82			$	(2	)
Freddie Mac	—			—				—			—		—			—			—			—			2			2				—
Ginnie Mae	9			—				—			—		—			—			—			(9		)	—			—				—
Alt-A private label securities	345			69				—			—		—			—			(67		)	(416		)	257			188				13
Subprime private-label securities	1,280			22				—			—		—			—			(76		)	—			—			1,226				22
Mortgage revenue bonds	724			(26		)		—			—		—			—			(9		)	—			—			689				(26		)
Other	143			(22		)		—			—		—			—			(3		)	—			—			118				(22		)
Total trading securities	$	4,238		$	45			$	—		$	—	$	(33	)	$	—		$	(263	)	$	(2,006	)	$	324		$	2,305			$	(15	)

Available-for-sale securities:
Mortgage-related:
Fannie Mae	$	946		$	—			$	(8	)	$	6	$	(6	)	$	—		$	(19	)	$	(895	)	$	10		$	34			$	—
Freddie Mac	12			—				—			—		—			—			(1		)	—			—			11				—
Alt-A private-label securities	7,256			(102		)		293			—		—			—			(537		)	(1,907		)	1,453			6,456				—
Subprime private-label securities	7,586			(195		)		506			—		—			—			(667		)	—			—			7,230				—
Mortgage revenue bonds	10,247			3				(20		)	—		(42		)	—			(835		)	—			—			9,353				—
Other	3,445			14				(38		)	—		—			—			(177		)	—			—			3,244				—
Total available-for-sale securities	$	29,492		$	(280	)		$	733		$	6	$	(48	)	$	—		$	(2,236	)	$	(2,802	)	$	1,463		$	26,328			$	—

Mortgage loans of consolidated trusts	$	2,319		$	120			$	—		$	387	$	—		$	—		$	(169	)	$	(344	)	$	18		$	2,331			$	(10	)
Net derivatives	65			15				—			—		—			(6		)	—			—			—			74				33
Long-term debt:
Of Fannie Mae:
Senior floating	$	(406	)	$	(6	)		$	—		$	—	$	—		$	—		$	—		$	—		$	—		$	(412	)		$	(6	)
Of consolidated trusts	(765		)	(60		)		—			—		—			(485		)	78			110			(197		)	(1,319		)		(2		)
Total long-term debt	$	(1,171	)	$	(66	)		$	—		$	—	$	—		$	(485	)	$	78		$	110		$	(197	)	$	(1,731	)		$	(8	)

__________


⁽¹⁾	(Losses) gains included in other comprehensive income are included in “Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes” in the condensed consolidated statements of operations and comprehensive income.


⁽²⁾	Purchases and sales include activity related to the consolidation and deconsolidation of assets of securitization trusts.


⁽³⁾	Issues and settlements include activity related to the consolidation and deconsolidation of liabilities of securitization trusts.

⁽⁴⁾

Transfers out of Level 3 consisted primarily of Fannie Mae MBS and private-label mortgage-related securities backed by Alt-A loans. Prices for these securities were obtained from multiple third-party vendors supported by market observable inputs. Transfers into Level 3 consisted primarily of private-label mortgage-related securities backed by Alt-A loans. Prices for these securities are based on inputs from a single source or inputs that were not readily observable.


⁽⁵⁾	Amount represents temporary changes in fair value. Amortization, accretion and other-than-temporary impairments are not considered unrealized and are not included in this amount.

Realized and Unrealized Gain and Losses for Level 3 Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables display realized and unrealized gains and losses included in our condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2013 and 2012, for our Level 3 assets and liabilities measured in our condensed consolidated balance sheets at fair value on a recurring basis.



		For the Three Months Ended June 30, 2013
	Interest Income			Fair Value (Losses) Gains, net				Net Other-than-Temporary Impairments				Other			Total
		(Dollars in millions)
Total realized and unrealized gains (losses) included in net income		$	70		$	(31	)		$	(4	)		$	3		$	38
Net unrealized gains related to Level 3 assets and liabilities still held as of June 30, 2013		$	—		$	3			$	—			$	—		$	3



		For the Six Months Ended June 30, 2013
	Interest Income			Fair Value Gains, net			Net Other-than-Temporary Impairments				Other			Total
		(Dollars in millions)
Total realized and unrealized gains (losses) included in net income		$	125		$	161		$	(9	)		$	6		$	283
Net unrealized gains related to Level 3 assets and liabilities still held as of June 30, 2013		$	—		$	135		$	—			$	—		$	135



		For the Three Months Ended June 30, 2012
	Interest Income			Fair Value Gains (Losses), net				Net Other-than-Temporary Impairments				Other			Total
		(Dollars in millions)
Total realized and unrealized gains (losses) included in net income		$	79		$	33			$	(388	)		$	2		$	(274	)
Net unrealized losses related to Level 3 assets and liabilities still held as of June 30, 2012		$	—		$	(9	)		$	—			$	—		$	(9	)



		For the Six Months Ended June 30, 2012
	Interest Income			Fair Value Gains, net			Net Other-than-Temporary Impairments				Other			Total
		(Dollars in millions)
Total realized and unrealized gains (losses) included in net income		$	145		$	120		$	(439	)		$	8		$	(166	)
Net unrealized gains (losses) related to Level 3 assets and liabilities still held as of June 30, 2012		$	—		$	—		$	—			$	—		$	—

Nonrecurring Changes in Fair Value [Table Text Block]

The following tables display assets measured in our condensed consolidated balance sheets at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when we evaluate for impairment) as of June 30, 2013 and December 31, 2012.



		Fair Value Measurements as of June 30, 2013
	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Estimated Fair Value
		(Dollars in millions)
Nonrecurring fair value measurements:
Assets:
Mortgage loans held for sale, at lower of cost or fair value		$	—		$	174		$	132		$	306
Single-family mortgage loans held for investment, at amortized cost:⁽¹⁾
Of Fannie Mae		—			—			20,316			20,316
Of consolidated trusts		—			—			123			123
Multifamily mortgage loans held for investment, at amortized cost		—			—			1,887			1,887
Acquired property, net:
Single-family		—			—			2,893			2,893
Multifamily		—			—			41			41
Other assets		—			—			110			110
Total nonrecurring fair value measurements		$	—		$	174		$	25,502		$	25,676



		Fair Value Measurements as of December 31, 2012
	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Estimated Fair Value
		(Dollars in millions)
Assets:
Mortgage loans held for sale, at lower of cost or fair value		$	—		$	104		$	135		$	239
Single-family mortgage loans held for investment, at amortized cost:⁽¹⁾
Of Fannie Mae		—			—			23,314			23,314
Of consolidated trusts		—			—			227			227
Multifamily mortgage loans held for investment, at amortized cost		—			—			1,624			1,624
Acquired property, net:
Single-family		—			—			3,692			3,692
Multifamily		—			—			74			74
Other assets		—			—			384			384
Total nonrecurring fair value measurements		$	—		$	104		$	29,450		$	29,554

_________


⁽¹⁾	Excludes estimated recoveries from mortgage insurance proceeds.

Valuation Techniques and Significant Unobservable Inputs for Level 3 Assets and Liabilities [Table Text Block]

The following tables display valuation techniques and the range and the weighted average of significant unobservable inputs for our Level 3 assets and liabilities measured at fair value on a recurring basis as of June 30, 2013 and December 31, 2012.



	Fair Value Measurements as of June 30, 2013
	Valuation Techniques	Significant Unobservable Inputs⁽¹⁾	Range⁽¹⁾			Weighted Average⁽¹⁾	Fair Value
	(Dollars in millions)
Recurring fair value measurements:
Trading securities:
Mortgage-related securities:
Agency⁽²⁾	Other						$	56
Alt-A private-label securities	Single Vendor	Default Rate (%)	12.4			12.4
		Prepayment Speed (%)	1.4			1.4
		Severity (%)	71.7			71.7	127
	Consensus						364
	Discounted Cash Flow	Default Rate (%)	11.2	-	13.4	12.7
		Prepayment Speed (%)	0.4	-	4.3	3.0
		Severity (%)	50.0	-	77.6	68.5
		Spreads (bps)	313.0	-	354.0	340.5	139
	Other						73
Total Alt-A private-label securities							703
Subprime private-label securities	Consensus	Default Rate (%)	9.0	-	18.6	14.2
		Prepayment Speed (%)	0.7	-	8.0	5.1
		Severity (%)	64.6	-	88.3	78.6
		Spreads (bps)	255.0	-	538.0	329.1	632
	Consensus						433
	Discounted Cash Flow	Default Rate (%)	9.8	-	22.3	13.6
		Prepayment Speed (%)	2.1	-	5.1	3.4
		Severity (%)	38.7	-	99.0	69.7
		Spreads (bps)	255.0	-	408.0	310.8	423
Total subprime private-label securities							1,488
Mortgage revenue bonds	Discounted Cash Flow	Spreads (bps)	221.0	-	415.0	358.1	578
	Other						25
Total mortgage revenue bonds							603
Other	Single Vendor						109
Total trading securities							$	2,959



	Fair Value Measurements as of June 30, 2013
	Valuation Techniques	Significant Unobservable Inputs⁽¹⁾	Range⁽¹⁾			Weighted Average⁽¹⁾	Fair Value
	(Dollars in millions)
Available-for-sale securities:
Mortgage-related securities:
Agency⁽²⁾	Other						$	19
Alt-A private-label securities	Single Vendor	Default Rate (%)	7.5	-	14.4	9.7
		Prepayment Speed (%)	0.2	-	7.0	3.4
		Severity (%)	35.5	-	86.2	76.5
		Spreads (bps)	345.0			345.0	137
	Single Vendor						163
	Consensus	Default Rate (%)	0.0	-	16.2	3.5
		Prepayment Speed (%)	0.0	-	35.5	13.1
		Severity (%)	3.7	-	100.0	55.7
		Spreads (bps)	177.0	-	597.0	451.3	2,621
	Consensus						1,561
	Discounted Cash Flow	Default Rate (%)	0.0	-	20.0	6.7
		Prepayment Speed (%)	0.0	-	16.2	4.8
		Severity (%)	35.7	-	97.6	58.1
		Spreads (bps)	111.0	-	479.0	294.3	1,174
	Other						1,352
Total Alt-A private-label securities							7,008
Subprime private-label securities	Single Vendor	Default Rate (%)	9.0	-	18.7	18.6
		Prepayment Speed (%)	5.0	-	7.2	7.1
		Severity (%)	65.0	-	94.3	94.0	94
	Consensus	Default Rate (%)	0.0	-	27.4	13.1
		Prepayment Speed (%)	0.0	-	27.4	4.6
		Severity (%)	24.3	-	97.7	75.6
		Spreads (bps)	144.0	-	569.0	319.3	2,882
	Consensus						3,661
	Discounted Cash Flow	Default Rate (%)	0.4	-	24.3	16.4
		Prepayment Speed (%)	0.6	-	14.9	3.5
		Severity (%)	60.2	-	100.0	77.5
		Spreads (bps)	65.0	-	450.0	310.0	852
	Other						373
Total subprime private-label securities							7,862
Mortgage revenue bonds	Single Vendor	Spreads (bps)	47.0	-	503.0	122.6	3,092
	Single Vendor						1,335
	Discounted Cash Flow	Spreads (bps)	58.0	-	555.0	327.9	1,846
	Other						127
Total mortgage revenue bonds							6,400
Other	Single Vendor						16
	Consensus	Default Rate (%)	0.0	-	12.6	4.0
		Prepayment Speed (%)	2.3	-	13.7	5.5
		Severity (%)	0.0	-	100.0	79.4
		Spreads (bps)	280.0	-	952.0	488.5	122
	Consensus						659
	Discounted Cash Flow	Default Rate (%)	5.0			5.0
		Prepayment Speed (%)	3.0			3.0
		Severity (%)	85.0			85.0
		Spreads (bps)	390.0	-	563.0	411.4	322
	Other						1,932
Total other							3,051
Total available-for-sale securities							$	24,340



	Fair Value Measurements as of June 30, 2013
	Valuation Techniques	Significant Unobservable Inputs⁽¹⁾	Range⁽¹⁾			Weighted Average⁽¹⁾	Fair Value
	(Dollars in millions)
Mortgage loans of consolidated trusts:
Single-family	Build-Up	Default Rate (%)	0.1	-	97.4	19.2
		Prepayment Speed (%)	3.0	-	42.5	15.1
		Severity (%)	6.1	-	96.1	29.9	$	1,969
	Consensus	Default Rate (%)	0.6	-	15.6	6.1
		Prepayment Speed (%)	0.0	-	16.1	7.2
		Severity (%)	39.9	-	100.0	61.6
		Spreads (bps)	167.0	-	931.0	404.5	380
	Consensus						420
	Discounted Cash Flow	Default Rate (%)	11.8			11.8
		Prepayment Speed (%)	2.5			2.5
		Severity (%)	99.4			99.4
		Spreads (bps)	752.0			752.0	3
Total single-family							2,772
Multifamily	Build-Up	Spreads (bps)	80.0	-	285.4	133.4	189
Total mortgage loans of consolidated trusts							$	2,961
Net derivatives	Internal Model						$	(83	)
	Dealer Mark						66
	Other						(32		)
Total net derivatives							$	(49	)
Long-term debt:
Of Fannie Mae:
Senior floating	Discounted Cash Flow						$	(337	)
Of consolidated trusts	Discounted Cash Flow	Default Rate (%)	11.8			11.8
		Prepayment Speed (%)	2.5	-	100.0	94.3
		Severity (%)	99.4			99.4
		Spreads (bps)	92.0	-	752.0	186.6	(105		)
	Consensus	Default Rate (%)	0.6	-	15.6	5.8
		Prepayment Speed (%)	0.0	-	16.1	7.8
		Severity (%)	39.9	-	100.0	59.2
		Spreads (bps)	167.0	-	931.0	426.1	(346		)
	Consensus						(508		)
	Single Vendor						(68		)
	Other						(50		)
Total of consolidated trusts							(1,077		)
Total long-term debt							$	(1,414	)



	Fair Value Measurements as of December 31, 2012
	Valuation Techniques	Significant Unobservable Inputs⁽¹⁾	Range⁽¹⁾			Weighted Average⁽¹⁾	Fair Value
	(Dollars in millions)
Trading securities:
Mortgage-related securities:
Agency⁽²⁾	Consensus						$	44
	Single Vendor						27
Total agency							71
Alt-A private-label securities	Discounted Cash Flow	Default Rate (%)	5.7	-	17.6	12.5
		Prepayment Speed (%)	0.6	-	4.0	1.7
		Severity (%)	65.0	-	70.0	67.6
		Spreads (bps)	526.0	-	612.0	567.0	87
	Other						17
Total Alt-A private-label securities							104
Subprime private-label securities	Consensus	Default Rate (%)	10.9	-	23.0	16.0
		Prepayment Speed (%)	0.3	-	7.9	2.6
		Severity (%)	80.0			80.0
		Spreads (bps)	427.0	-	657.0	488.5	544
	Consensus						355
	Discounted Cash Flow	Default Rate (%)	14.1	-	20.4	18.7
		Prepayment Speed (%)	3.4	-	8.3	5.6
		Severity (%)	80.0			80.0
		Spreads (bps)	422.0	-	637.0	564.8	236
	Single Vendor						184
Total subprime private-label securities							1,319
Mortgage revenue bonds	Discounted Cash Flow	Spreads (bps)	260.0	-	375.0	320.4	636
	Single Vendor						39
Total mortgage revenue bonds							675
Other	Other						117
Total trading securities							$	2,286



	Fair Value Measurements as of December 31, 2012
	Valuation Techniques	Significant Unobservable Inputs⁽¹⁾	Range⁽¹⁾			Weighted Average⁽¹⁾	Fair Value
	(Dollars in millions)
Available-for-sale securities:
Mortgage-related securities:
Agency⁽²⁾	Other						$	39
Alt-A private-label securities	Discounted Cash Flow	Default Rate (%)	0.0	-	23.6	6.4
		Prepayment Speed (%)	0.0	-	20.8	7.4
		Severity (%)	50.0	-	70.0	57.2
		Spreads (bps)	288.0	-	643.0	442.8	3,003
	Consensus	Default Rate (%)	0.0	-	17.7	3.6
		Prepayment Speed (%)	0.2	-	41.3	10.0
		Severity (%)	50.0	-	70.0	54.9
		Spreads (bps)	300.0	-	634.0	429.0	2,285
	Consensus						1,231
	Single Vendor						45
Total Alt-A private-label securities							6,564
Subprime private-label securities	Consensus	Default Rate (%)	0.0	-	27.4	15.4
		Prepayment Speed (%)	0.0	-	14.4	3.0
		Severity (%)	65.0	-	80.0	77.8
		Spreads (bps)	325.0	-	660.0	493.7	3,333
	Consensus						2,326
	Discounted Cash Flow	Default Rate (%)	0.0	-	24.3	15.7
		Prepayment Speed (%)	0.0	-	10.9	2.9
		Severity (%)	65.0	-	80.0	76.7
		Spreads (bps)	299.0	-	654.0	527.0	1,710
	Other						78
Total subprime private-label securities							7,447
Mortgage revenue bonds	Single Vendor						5,721
	Discounted Cash Flow	Spreads (bps)	77.0	-	375.0	297.7	1,911
	Other						205
Total mortgage revenue bonds							7,837
Other	Consensus						1,009
	Discounted Cash Flow	Default Rate (%)	4.0	-	10.0	5.0
		Prepayment Speed (%)	0.2	-	10.0	3.0
		Severity (%)	50.0	-	85.0	84.8
		Spreads (bps)	431.0	-	1,154.0	588.6	916
	Consensus	Default Rate (%)	0.0	-	5.0	4.7
		Prepayment Speed (%)	1.0	-	14.1	3.6
		Severity (%)	65.0	-	85.0	83.8
		Spreads (bps)	450.0	-	729.0	585.8	534
	Other						688
Total other							3,147
Total available-for-sale securities							$	25,034



	Fair Value Measurements as of December 31, 2012
	Valuation Techniques	Significant Unobservable Inputs⁽¹⁾	Range⁽¹⁾			Weighted Average⁽¹⁾	Fair Value
	(Dollars in millions)
Mortgage loans of consolidated trusts:
Single-family	Build-Up	Default Rate (%)	0.1	-	99.3	18.4
		Prepayment Speed (%)	4.4	-	92.0	19.4
		Severity (%)	5.6	-	97.3	33.3	$	1,698
	Consensus						303
	Consensus	Default Rate (%)	0.0	-	9.0	6.4
		Prepayment Speed (%)	1.7	-	14.4	10.4
		Severity (%)	65.0	-	70.0	67.1
		Spreads (bps)	468.0	-	851.0	567.9	302
	Discounted Cash Flow	Default Rate (%)	0.0	-	8.5	6.0
		Prepayment Speed (%)	1.7	-	14.4	5.3
		Severity (%)	65.0	-	70.0	65.0
		Spreads (bps)	507.0	-	1,030.0	733.4	106
	Single Vendor						50
Total single-family							2,459
Multifamily	Build-Up	Spreads (bps)	77.0	-	363.4	154.5	175
Total mortgage loans of consolidated trusts							$	2,634
Net derivatives	Dealer Mark						$	144
	Internal Model						(130		)
Total net derivatives							$	14
Long-term debt:
Of Fannie Mae:
Senior floating	Discounted Cash Flow						$	(400	)
Of consolidated trusts	Consensus						(370		)
	Discounted Cash Flow	Default Rate (%)	0.0	-	10.0	5.8
		Prepayment Speed (%)	0.0	-	100.0	36.9
		Severity (%)	50.0	-	70.0	63.4
		Spreads (bps)	98.0	-	1,030.0	331.4	(330		)
	Consensus	Default Rate (%)	0.0	-	9.0	6.2
		Prepayment Speed (%)	1.7	-	14.4	10.9
		Severity (%)	65.0	-	70.0	67.5
		Spreads (bps)	468.0	-	851.0	584.3	(271		)
	Single Vendor						(157		)
Total of consolidated trusts							(1,128		)
Total long-term debt							$	(1,528	)

_________

⁽¹⁾

Valuation techniques for which no unobservable inputs are disclosed generally reflect the use of third-party pricing services or dealers, and the range of unobservable inputs applied by these sources is not readily available or cannot be reasonably estimated. Where we have disclosed unobservable inputs for consensus and single vendor techniques, those inputs are based on our validations performed at the security level using discounted cash flows.


⁽²⁾	Includes Fannie Mae, Freddie Mac and Ginnie Mae securities.

Level 3 Assets Measured on Nonrecurring Basis [Table Text Block]

The following table displays valuation techniques for our Level 3 assets measured at fair value on a nonrecurring basis as of June 30, 2013 and December 31, 2012. The significant unobservable inputs related to these techniques primarily relate to collateral dependent valuations. The related ranges and weighted averages are not meaningful when aggregated as they vary significantly from property to property.



		Fair Value as of
	Valuation Techniques	June 30, 2013			December 31, 2012
		(Dollars in millions)
Nonrecurring fair value measurements:
Mortgage loans held for sale, at lower of cost or fair value	Consensus		$	132		$	135
Single-family mortgage loans held for investment, at amortized cost:
Of Fannie Mae	Internal Model		20,316			23,314
Of consolidated trusts	Internal Model		123			227
Multifamily mortgage loans held for investment, at amortized cost	Appraisals		127			194
	Broker Price Opinions		420			395
	Asset Manager Estimate		1,056			1,001
	Other		284			34
Total multifamily mortgage loans held for investment, at amortized cost			1,887			1,624
Acquired property, net:
Single-family	Accepted Offers		620			787
	Appraisals		1,078			467
	Walk Forwards		546			1,348
	Internal Model		610			1,014
	Other		39			76
Total single-family			2,893			3,692
Multifamily	Accepted Offers		5			20
	Appraisals		2			8
	Broker Price Opinions		34			46
Total multifamily			41			74
Other assets	Appraisals		25			8
	Broker Price Opinions		10			—
	Walk Forwards		10			43
	Internal Model		61			203
	Other		4			130
Total other assets			110			384
Total nonrecurring assets at fair value			$	25,502		$	29,450

Fair Value of Financial Instruments [Table Text Block]

The following table displays the carrying value and estimated fair value of our financial instruments as of June 30, 2013 and December 31, 2012. The fair value of financial instruments we disclose includes commitments to purchase multifamily and single-family mortgage loans, which are off-balance sheet financial instruments that we do not record in our condensed consolidated balance sheets. The fair values of these commitments are included as “Mortgage loans held for investment, net of allowance for loan losses.” The disclosure excludes certain financial instruments, such as plan obligations for pension and postretirement health care benefits, employee stock option and stock purchase plans, and also excludes all non-financial instruments. As a result, the fair value of our financial assets and liabilities does not represent the underlying fair value of our total consolidated assets and liabilities.



	As of June 30, 2013
	Carrying Value		Quoted Price in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Netting Adjustment			Estimated Fair Value
	(Dollars in millions)
Financial assets:
Cash and cash equivalents and restricted cash	$	78,648	$	67,648	$	11,000	$	—	$	—		$	78,648
Federal funds sold and securities purchased under agreements to resell or similar arrangements	37,800		—		37,800		—		—			37,800
Trading securities	40,189		18,477		18,753		2,959		—			40,189
Available-for-sale securities	55,536		—		31,196		24,340		—			55,536
Mortgage loans held for sale	545		—		286		267		—			553
Mortgage loans held for investment, net of allowance for loan losses:
Of Fannie Mae	283,748		—		38,280		225,059		—			263,339
Of consolidated trusts	2,691,761		—		2,546,313		181,356		—			2,727,669
Mortgage loans held for investment	2,975,509		—		2,584,593		406,415		—			2,991,008
Advances to lenders	5,906		—		5,298		580		—			5,878
Derivative assets at fair value	3,449		—		15,417		105		(12,073		)	3,449
Guaranty assets and buy-ups	275		—		—		660		—			660
Total financial assets	$	3,197,857	$	86,125	$	2,704,343	$	435,326	$	(12,073	)	$	3,213,721

Financial liabilities:
Short-term debt:
Of Fannie Mae	$	102,799	$	—	$	102,813	$	—	$	—		$	102,813
Of consolidated trusts	2,812		—		—		2,812		—			2,812
Long-term debt:
Of Fannie Mae	500,441		—		512,058		944		—			513,002
Of consolidated trusts	2,634,483		—		2,646,877		14,554		—			2,661,431
Derivative liabilities at fair value	2,904		—		18,535		154		(15,785		)	2,904
Guaranty obligations	520		—		—		2,365		—			2,365
Total financial liabilities	$	3,243,959	$	—	$	3,280,283	$	20,829	$	(15,785	)	$	3,285,327



	As of December 31, 2012
	Carrying Value		Quoted Price in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Netting Adjustment			Estimated Fair Value
	(Dollars in millions)
Financial assets:
Cash and cash equivalents and restricted cash	$	89,036	$	75,786	$	13,250	$	—	$	—		$	89,036
Federal funds sold and securities purchased under agreements to resell or similar arrangements	32,500		—		32,500		—		—			32,500
Trading securities	40,695		17,950		20,459		2,286		—			40,695
Available-for-sale securities	63,181		—		38,147		25,034		—			63,181
Mortgage loans held for sale	464		—		267		208		—			475
Mortgage loans held for investment, net of allowance for loan losses:
Of Fannie Mae	305,025		—		39,018		232,170		—			271,188
Of consolidated trusts	2,643,917		—		2,528,004		234,424		—			2,762,428
Mortgage loans held for investment	2,948,942		—		2,567,022		466,594		—			3,033,616
Advances to lenders	7,592		—		6,936		572		—			7,508
Derivative assets at fair value	435		—		16,051		175		(15,791		)	435
Guaranty assets and buy-ups	327		—		—		692		—			692
Total financial assets	$	3,183,172	$	93,736	$	2,694,632	$	495,561	$	(15,791	)	$	3,268,138

Financial liabilities:
Short-term debt:
Of Fannie Mae	$	105,233	$	—	$	105,253	$	—	$	—		$	105,253
Of consolidated trusts	3,483		—		—		3,483		—			3,483
Long-term debt:
Of Fannie Mae	510,631		—		534,516		1,056		—			535,572
Of consolidated trusts	2,570,170		—		2,685,008		16,171		—			2,701,179
Derivative liabilities at fair value	705		—		22,590		161		(22,046		)	705
Guaranty obligations	599		—		—		3,113		—			3,113
Total financial liabilities	$	3,190,821	$	—	$	3,347,367	$	23,984	$	(22,046	)	$	3,349,305

Fair Value Option [Table Text Block]

The following table displays the fair value and unpaid principal balance of the financial instruments for which we have made fair value elections as of June 30, 2013 and December 31, 2012.



		As of
		June 30, 2013									December 31, 2012
	Loans of Consolidated Trusts⁽¹⁾			Long-Term Debt of Fannie Mae			Long-Term Debt of Consolidated Trusts⁽²⁾			Loans of Consolidated Trusts⁽¹⁾			Long-Term Debt of Fannie Mae			Long-Term Debt of Consolidated Trusts⁽²⁾
		(Dollars in millions)
Fair value		$	13,770		$	720		$	14,601		$	10,800		$	793		$	11,647
Unpaid principal balance		13,888			674			13,729			10,657			674			10,803

__________

⁽¹⁾

Includes nonaccrual loans with a fair value of $286 million and $273 million as of June 30, 2013 and December 31, 2012, respectively. The difference between unpaid principal balance and the fair value of these nonaccrual loans as of June 30, 2013 and December 31, 2012 was $145 million and $189 million, respectively. Includes loans that are 90 days or more past due with a fair value of $389 million and $386 million as of June 30, 2013 and December 31, 2012, respectively. The difference between unpaid principal balance and the fair value of these 90 or more days past due loans as of June 30, 2013 and December 31, 2012 was $149 million and $201 million, respectively.


⁽²⁾	Includes interest-only debt instruments with no unpaid principal balance and a fair value of $86 million and $100 million as of June 30, 2013 and December 31, 2012, respectively.

The following table displays fair value gains and losses, net, including changes attributable to instrument-specific credit risk, for loans and debt for which the fair value election was made. Amounts are recorded as a component of “Fair value gains (losses), net” in our condensed consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2013 and 2012.



	For the Three Months Ended June 30,
	2013										2012
	Loans			Long-Term Debt			Total Gains (Losses)				Loans			Long-Term Debt				Total Gains (Losses)
	(Dollars in millions)
Changes in instrument-specific credit risk	$	66			$	2		$	68		$	11			$	—			$	11
Other changes in fair value	(549		)		339			(210		)	(38		)		(17		)		(55		)
Fair value (losses) gains, net	$	(483	)		$	341		$	(142	)	$	(27	)		$	(17	)		$	(44	)



	For the Six Months Ended June 30,
	2013											2012
	Loans			Long-Term Debt				Total Losses				Loans			Long-Term Debt				Total Gains (Losses)
	(Dollars in millions)
Changes in instrument-specific credit risk	$	1			$	(3	)		$	(2	)	$	77			$	(2	)		$	75
Other changes in fair value	(706		)		405				(301		)	(103		)		43				(60		)
Fair value (losses) gains, net	$	(705	)		$	402			$	(303	)	$	(26	)		$	41			$	15

- Definition

Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity.

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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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