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Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2015
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, 2015
 
As of December 31, 2014
 
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
$
47,665

 
$
1,083

 
$
111,367

 
$
(5,841
)
 
$
41,965

 
$
733

 
$
123,557

 
$
(7,125
)
Receive-fixed
99,401

 
3,159

 
110,875

 
(1,023
)
 
67,629

 
4,486

 
157,272

 
(1,302
)
Basis
1,269

 
112

 
8,600

 
(3
)
 
5,769

 
123

 
7,100

 
(2
)
Foreign currency
347

 
130

 
275

 
(30
)
 
344

 
144

 
273

 
(30
)
Swaptions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay-fixed
6,550

 
53

 
14,200

 
(66
)
 
11,100

 
57

 
26,525

 
(175
)
Receive-fixed

 

 
14,700

 
(268
)
 
750

 
96

 
29,525

 
(816
)
Other(1)
888

 
26

 
613

 
(1
)
 
1,071

 
28

 
12

 
(1
)
Total gross risk management derivatives
156,120

 
4,563

 
260,630

 
(7,232
)
 
128,628

 
5,667

 
344,264

 
(9,451
)
Accrued interest receivable (payable)

 
772

 

 
(915
)
 

 
749

 

 
(1,013
)
Netting adjustment(2)

 
(4,050
)
 

 
7,728

 

 
(5,186
)
 

 
10,194

Total net risk management derivatives
$
156,120

 
$
1,285

 
$
260,630

 
$
(419
)
 
$
128,628

 
$
1,230

 
$
344,264

 
$
(270
)
Mortgage commitment derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage commitments to purchase whole loans
$
6,071

 
$
14

 
$
4,694

 
$
(40
)
 
$
6,157

 
$
28

 
$
428

 
$

Forward contracts to purchase mortgage-related securities
32,606

 
90

 
29,670

 
(211
)
 
43,533

 
223

 
6,112

 
(8
)
Forward contracts to sell mortgage-related securities
45,866

 
329

 
48,582

 
(141
)
 
4,886

 
4

 
57,910

 
(336
)
Total mortgage commitment derivatives
$
84,543

 
$
433

 
$
82,946

 
$
(392
)
 
$
54,576

 
$
255

 
$
64,450

 
$
(344
)
Derivatives at fair value
$
240,663

 
$
1,718

 
$
343,576

 
$
(811
)
 
$
183,204

 
$
1,485

 
$
408,714

 
$
(614
)
__________
(1) 
Includes 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 arrangements to settle with the same counterparty on a net basis, including cash collateral posted and received. Cash collateral posted was $4.1 billion and $5.3 billion as of June 30, 2015 and December 31, 2014, respectively. Cash collateral received was $436 million and $245 million as of June 30, 2015 and December 31, 2014, 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
 
For the Six Months
 
Ended June 30,
 
Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
(Dollars in millions)
Risk management derivatives:
 
 
 
 
 
 
 
Swaps:
 
 
 
 
 
 
 
Pay-fixed
$
4,351

 
$
(2,349
)
 
$
1,282

 
$
(4,467
)
Receive-fixed
(1,906
)
 
1,639

 
(59
)
 
3,104

Basis
(44
)
 
8

 
(12
)
 
43

Foreign currency
16

 
17

 
(13
)
 
38

Swaptions:
 
 
 
 
 
 
 
Pay-fixed
14

 
62

 
105

 
(37
)
Receive-fixed
80

 
(59
)
 
(79
)
 
(101
)
Other
(4
)
 
3

 
(2
)
 

Accrual of periodic settlements:
 
 
 
 
 
 
 
Pay-fixed interest-rate swaps
(904
)
 
(913
)
 
(1,835
)
 
(1,816
)
Receive-fixed interest-rate swaps
695

 
642

 
1,387

 
1,333

Other
10

 
14

 
20

 
27

Total risk management derivatives fair value gains (losses), net
$
2,308

 
$
(936
)
 
$
794

 
$
(1,876
)
Mortgage commitment derivatives fair value gains (losses), net
173

 
(310
)
 
(66
)
 
(655
)
Total derivatives fair value gains (losses), net
$
2,481

 
$
(1,246
)
 
$
728

 
$
(2,531
)