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Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2014 and December 31, 2013.
 
As of June 30, 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
$
52,489

 
$
2,340

 
$
105,272

 
$
(6,019
)
 
$
68,637

 
$
5,378

 
$
93,428

 
$
(4,759
)
Receive-fixed
66,478

 
4,179

 
133,397

 
(1,629
)
 
67,527

 
3,320

 
156,250

 
(3,813
)
Basis
13,914

 
79

 
6,850

 
(1
)
 
27,014

 
36

 
600

 

Foreign currency
377

 
139

 
299

 
(16
)
 
389

 
120

 
653

 
(38
)
Swaptions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay-fixed
25,150

 
94

 
43,525

 
(264
)
 
33,400

 
445

 
48,025

 
(600
)
Receive-fixed
4,500

 
216

 
46,525

 
(721
)
 
8,000

 
117

 
48,025

 
(484
)
Other(1)
109

 
29

 
37

 
(1
)
 
769

 
28

 
13

 
(1
)
Total gross risk management derivatives
163,017

 
7,076

 
335,905

 
(8,651
)
 
205,736

 
9,444

 
346,994

 
(9,695
)
Accrued interest receivable (payable)

 
696

 

 
(950
)
 

 
786

 

 
(930
)
Netting adjustment(2)

 
(6,897
)
 

 
9,390

 

 
(8,422
)
 

 
9,370

Total net risk management derivatives
$
163,017

 
$
875

 
$
335,905

 
$
(211
)
 
$
205,736

 
$
1,808

 
$
346,994

 
$
(1,255
)
Mortgage commitment derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage commitments to purchase whole loans
$
7,728

 
$
44

 
$
235

 
$

 
$
1,138

 
$
1

 
$
4,353

 
$
(31
)
Forward contracts to purchase mortgage-related securities
40,214

 
343

 
663

 
(2
)
 
3,276

 
4

 
20,861

 
(168
)
Forward contracts to sell mortgage-related securities
484

 
2

 
60,336

 
(523
)
 
35,423

 
260

 
7,886

 
(15
)
Total mortgage commitment derivatives
$
48,426

 
$
389

 
$
61,234

 
$
(525
)
 
$
39,837

 
$
265

 
$
33,100

 
$
(214
)
Derivatives at fair value
$
211,443

 
$
1,264

 
$
397,139

 
$
(736
)
 
$
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 $3.3 billion and $2.0 billion as of June 30, 2014 and December 31, 2013, respectively. Cash collateral received was $780 million and $1.0 billion as of June 30, 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 and six months ended June 30, 2014 and 2013.
 
For the
 
For the
 
Three Months
 
Six Months
 
Ended June 30,
 
Ended June 30,
 
2014
 
2013
 
2014
 
2013
 
(Dollars in millions)
Risk management derivatives:
 
 
 
 
 
 
 
Swaps:
 
 
 
 
 
 
 
Pay-fixed
$
(2,349
)
 
$
8,313

 
$
(4,467
)
 
$
10,903

Receive-fixed
1,639

 
(7,123
)
 
3,104

 
(9,033
)
Basis
8

 
(45
)
 
43

 
(72
)
Foreign currency
17

 
(63
)
 
38

 
(133
)
Swaptions:
 
 
 
 
 
 
 
Pay-fixed
62

 
(468
)
 
(37
)
 
(451
)
Receive-fixed
(59
)
 
247

 
(101
)
 
268

Other
3

 
11

 

 
21

Accrual of periodic settlements:
 
 
 
 
 
 
 
Pay-fixed interest-rate swaps
(913
)
 
(1,211
)
 
(1,816
)
 
(2,409
)
Receive-fixed interest-rate swaps
642

 
1,012

 
1,333

 
1,994

Other
14

 
18

 
27

 
34

Total risk management derivatives fair value (losses) gains, net
$
(936
)
 
$
691

 
$
(1,876
)
 
$
1,122

Mortgage commitment derivatives fair value (losses) gains, net
(310
)
 
497

 
(655
)
 
628

Total derivatives fair value (losses) gains, net
$
(1,246
)
 
$
1,188

 
$
(2,531
)
 
$
1,750