Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016										As of December 31, 2015
	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	$	525	$	—		$	153,975	$	(11,582	)	$	33,154	$	267		$	123,106	$	(6,920	)
Receive-fixed	142,656		5,651			60,286		(53		)	59,796		3,436			143,209		(753		)
Basis	1,864		174			17,100		(14		)	1,864		141			17,100		(15		)
Foreign currency	263		98			251		(61		)	295		95			258		(52		)
Swaptions:
Pay-fixed	9,800		43			4,600		(7		)	7,050		45			14,950		(26		)
Receive-fixed	2,000		4			6,350		(164		)	2,000		8			13,950		(171		)
Other(1)	8,323		27			—		(1		)	9,196		28			—		(2		)
Total gross risk management derivatives	165,431		5,997			242,562		(11,882		)	113,355		4,020			312,573		(7,939		)
Accrued interest receivable (payable)	—		917			—		(1,227		)	—		758			—		(977		)
Netting adjustment(2)	—		(6,724		)	—		12,598			—		(4,024		)	—		8,650
Total net risk management derivatives	$	165,431	$	190		$	242,562	$	(511	)	$	113,355	$	754		$	312,573	$	(266	)
Mortgage commitment derivatives:
Mortgage commitments to purchase whole loans	$	10,507	$	48		$	211	$	—		$	4,815	$	9		$	2,960	$	(9	)
Forward contracts to purchase mortgage-related securities	77,994		457			1,893		(4		)	31,273		66			19,418		(57		)
Forward contracts to sell mortgage-related securities	1,525		5			107,159		(601		)	26,224		65			40,753		(92		)
Total mortgage commitment derivatives	$	90,026	$	510		$	109,263	$	(605	)	$	62,312	$	140		$	63,131	$	(158	)
Derivatives at fair value	$	255,457	$	700		$	351,825	$	(1,116	)	$	175,667	$	894		$	375,704	$	(424	)

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⁽¹⁾  Includes swap credit enhancements and futures, as well as credit risk transfer transactions and mortgage insurance contracts that we account for as derivatives.

⁽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 $6.2 billion and $4.9 billion as of March 31, 2016 and December 31, 2015, respectively. Cash collateral received was $365 million and $314 million as of March 31, 2016 and December 31, 2015, 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
	Ended March 31,
	2016			2015
	(Dollars in millions)
Risk management derivatives:
Swaps:
Pay-fixed	$	(5,173	)	$	(3,069	)
Receive-fixed	2,987			1,847
Basis	35			32
Foreign currency	3			(29		)
Swaptions:
Pay-fixed	25			91
Receive-fixed	(117		)	(159		)
Other	138			2
Net accrual of periodic settlements	(269		)	(229		)
Total risk management derivatives fair value losses, net	$	(2,371	)	$	(1,514	)
Mortgage commitment derivatives fair value losses, net	(362		)	(239		)
Total derivatives fair value losses, net	$	(2,733	)	$	(1,753	)