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Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2014
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 March 31, 2014 and December 31, 2013.
 
As of March 31, 2014
 
As of December 31, 2013
 
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
$
68,984

 
$
3,746

 
$
94,488

 
$
(5,083
)
 
$
68,637

 
$
5,378

 
$
93,428

 
$
(4,759
)
Receive-fixed
67,408

 
3,842

 
144,897

 
(2,833
)
 
67,527

 
3,320

 
156,250

 
(3,813
)
Basis
23,414

 
70

 
600

 

 
27,014

 
36

 
600

 

Foreign currency
368

 
126

 
492

 
(26
)
 
389

 
120

 
653

 
(38
)
Swaptions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay-fixed
34,450

 
259

 
46,025

 
(475
)
 
33,400

 
445

 
48,025

 
(600
)
Receive-fixed
8,000

 
154

 
49,025

 
(572
)
 
8,000

 
117

 
48,025

 
(484
)
Other(1)
769

 
29

 
12

 
(1
)
 
769

 
28

 
13

 
(1
)
Total gross risk management derivatives
203,393

 
8,226

 
335,539

 
(8,990
)
 
205,736

 
9,444

 
346,994

 
(9,695
)
Accrued interest receivable (payable)

 
927

 

 
(1,143
)
 

 
786

 

 
(930
)
Netting adjustment(2)

 
(8,422
)
 

 
10,042

 

 
(8,422
)
 

 
9,370

Total net risk management derivatives
$
203,393

 
$
731

 
$
335,539

 
$
(91
)
 
$
205,736

 
$
1,808

 
$
346,994

 
$
(1,255
)
Mortgage commitment derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage commitments to purchase whole loans
$
2,205

 
$
3

 
$
3,665

 
$
(11
)
 
$
1,138

 
$
1

 
$
4,353

 
$
(31
)
Forward contracts to purchase mortgage-related securities
11,553

 
24

 
21,370

 
(62
)
 
3,276

 
4

 
20,861

 
(168
)
Forward contracts to sell mortgage-related securities
27,810

 
78

 
18,301

 
(45
)
 
35,423

 
260

 
7,886

 
(15
)
Total mortgage commitment derivatives
$
41,568

 
$
105

 
$
43,336

 
$
(118
)
 
$
39,837

 
$
265

 
$
33,100

 
$
(214
)
Derivatives at fair value
$
244,961

 
$
836

 
$
378,875

 
$
(209
)
 
$
245,573

 
$
2,073

 
$
380,094

 
$
(1,469
)
__________
(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 for our risk management derivatives transactions represents the effect of the legal right to offset under legally enforceable master netting arrangements to settle with the same counterparty on a net basis, including cash collateral posted and received. Cash collateral posted was $2.8 billion and $2.0 billion as of March 31, 2014 and December 31, 2013, respectively. Cash collateral received was $1.2 billion and $1.0 billion as of March 31, 2014 and December 31, 2013, respectively.
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 three months ended March 31, 2014 and 2013.
 
For the
 
Three Months
 
Ended March 31,
 
2014
 
2013
 
(Dollars in millions)
Risk management derivatives:
 
 
 
Swaps:
 
 
 
Pay-fixed
$
(2,118
)
 
$
2,590

Receive-fixed
1,465

 
(1,910
)
Basis
35

 
(27
)
Foreign currency
21

 
(70
)
Swaptions:
 
 
 
Pay-fixed
(99
)
 
17

Receive-fixed
(42
)
 
21

Other(1)
(3
)
 
10

Accrual of periodic settlements:
 
 
 
Pay-fixed interest-rate swaps
(903
)
 
(1,198
)
Receive-fixed interest-rate swaps
691

 
982

Basis
9

 
10

Foreign-currency swaps
4

 
4

Other(1)

 
2

Total risk management derivatives fair value (losses) gains, net
$
(940
)
 
$
431

Mortgage commitment derivatives fair value (losses) gains, net
(345
)
 
131

Total derivatives fair value (losses) gains, net
$
(1,285
)
 
$
562

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