The table below displays information related to derivatives, securities purchased under agreements to resell or similar arrangements, and securities sold under agreements to repurchase or similar arrangements, which are subject to an enforceable master netting arrangement or similar agreement that are either offset or not offset in our condensed consolidated balance sheets as of March 31, 2015 and December 31, 2014.



	As of March 31, 2015
									Net Amount Presented in the Condensed Consolidated Balance Sheets						Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Gross Amount				Gross Amount Offset⁽¹⁾										Financial Instruments⁽²⁾				Collateral⁽³⁾				Net Amount
		(Dollars in millions)
Assets:
OTC risk management derivatives		$	5,705			$	(5,705	)		$	—					$	—			$	—			$	—
Cleared risk management derivatives		1,174				79				1,253						—				—				1,253
Mortgage commitment derivatives		412				—				412						(227		)		(3		)		182
Total derivative assets		7,291				(5,626		)		1,665			⁽⁴	⁾		(227		)		(3		)		1,435
Securities purchased under agreements to resell or similar arrangements⁽⁵⁾		39,180				—				39,180						—				(39,180		)		—
Total assets		$	46,471			$	(5,626	)		$	40,845					$	(227	)		$	(39,183	)		$	1,435
Liabilities:
OTC risk management derivatives		$	(8,658	)		$	8,424			$	(234	)				$	—			$	—			$	(234	)
Cleared risk management derivatives		(3,612		)		3,612				—						—				—				—
Mortgage commitment derivatives		(567		)		—				(567		)				227				—				(340		)
Total derivative liabilities		(12,837		)		12,036				(801		)	⁽⁴	⁾		227				—				(574		)
Securities sold under agreements to repurchase or similar arrangements		(87		)		—				(87		)				—				87				—
Total liabilities		$	(12,924	)		$	12,036			$	(888	)				$	227			$	87			$	(574	)



	As of December 31, 2014
									Net Amount Presented in the Condensed Consolidated Balance Sheets						Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Gross Amount				Gross Amount Offset⁽¹⁾										Financial Instruments⁽²⁾				Collateral⁽³⁾				Net Amount
		(Dollars in millions)
Assets:
OTC risk management derivatives		$	5,461			$	(5,428	)		$	33					$	—			$	(33	)		$	—
Cleared risk management derivatives		927				242				1,169						—				—				1,169
Mortgage commitment derivatives		255				—				255						(116		)		(7		)		132
Total derivative assets		6,643				(5,186		)		1,457			⁽⁴	⁾		(116		)		(40		)		1,301
Securities purchased under agreements to resell or similar arrangements⁽⁵⁾		47,550				—				47,550						—				(47,550		)		—
Total assets		$	54,193			$	(5,186	)		$	49,007					$	(116	)		$	(47,590	)		$	1,301
Liabilities:
OTC risk management derivatives		$	(7,836	)		$	7,567			$	(269	)				$	—			$	—			$	(269	)
Cleared risk management derivatives		(2,627		)		2,627				—						—				—				—
Mortgage commitment derivatives		(344		)		—				(344		)				116				—				(228		)
Total derivative liabilities		(10,807		)		10,194				(613		)	⁽⁴	⁾		116				—				(497		)
Securities sold under agreements to repurchase or similar arrangements		(50		)		—				(50		)				—				50				—
Total liabilities		$	(10,857	)		$	10,194			$	(663	)				$	116			$	50			$	(497	)

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⁽¹⁾	Represents the effect of the 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 and accrued interest.


⁽²⁾	Mortgage commitment derivative amounts reflect where we have recognized both an asset and a liability with the same counterparty under an enforceable master netting arrangement but we have not elected to offset the related amounts in our condensed consolidated balance sheets.

⁽³⁾

Represents collateral posted or received that has neither been recognized nor offset in our condensed consolidated balance sheets. Does not include collateral held in excess of our exposure. The fair value of non-cash collateral accepted for OTC risk management derivatives was $5 million and $51 million as of March 31, 2015 and December 31, 2014, respectively. The fair value of non-cash collateral accepted for securities purchased under agreements to resell or similar arrangements was $39.3 billion and $47.6 billion, of which $31.9 billion and $41.9 billion could be sold or repledged as of March 31, 2015 and December 31, 2014, respectively. None of the underlying collateral was sold or repledged as of March 31, 2015 or December 31, 2014. The fair value of non-cash collateral we pledged for securities sold under agreements to repurchase was $87 million and $50 million as of March 31, 2015 and December 31, 2014, respectively, which the counterparty was permitted to sell or repledge.


⁽⁴⁾	Excludes derivative assets of $27 million and $28 million as of March 31, 2015 and December 31, 2014, respectively, and derivative liabilities of $1 million as of March 31, 2015 and December 31, 2014, recognized in our condensed consolidated balance sheets that are not subject to enforceable master netting arrangements.


⁽⁵⁾	Includes $19.0 billion and $16.6 billion of securities purchased under agreements to resell or similar arrangements classified as “Cash and cash equivalents” in our condensed consolidated balance sheets as of March 31, 2015 and December 31, 2014, respectively.