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Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2019
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, 2019
 
As of December 31, 2018
 
 
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
 
$
58,357

 
$
4

 
$
31,468

 
$
(1,327
)
 
$
71,416

 
$
438

 
$
21,253

 
$
(740
)
Receive-fixed
 
91,919

 
1,096

 
47,254

 
(210
)
 
88,799

 
1,113

 
58,399

 
(860
)
Basis
 
273

 
155

 
—

 
—

 
250

 
104

 
624

 
—

Foreign currency
 
220

 
30

 
222

 
(77
)
 
221

 
22

 
223

 
(72
)
Swaptions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay-fixed
 
4,600

 
29

 
6,375

 
(172
)
 
10,375

 
191

 
1,000

 
(4
)
Receive-fixed
 
2,125

 
90

 
5,350

 
(232
)
 
500

 
20

 
7,375

 
(338
)
Futures(1)
 
19,537

 
—

 
—

 
—

 
16,631

 
—

 
—

 
—

Total gross risk management derivatives
 
177,031

 
1,404

 
90,669

 
(2,018
)
 
188,192

 
1,888

 
88,874

 
(2,014
)
Accrued interest receivable (payable)
 
—

 
360

 
—

 
(359
)
 
—

 
400

 
—

 
(419
)
Netting adjustment(2)
 
—

 
(1,709
)
 
—

 
2,297

 
—

 
(2,266
)
 
—

 
2,315

Total net risk management derivatives
 
$
177,031

 
$
55

 
$
90,669

 
$
(80
)
 
$
188,192

 
$
22

 
$
88,874

 
$
(118
)
Mortgage commitment derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage commitments to purchase whole loans
 
$
9,767

 
$
54

 
$
2,417

 
$
(2
)
 
$
4,370

 
$
29

 
$
57

 
$
—

Forward contracts to purchase mortgage-related securities
 
78,510

 
389

 
10,000

 
(11
)
 
40,650

 
349

 
1,045

 
(3
)
Forward contracts to sell mortgage-related securities
 
10,230

 
12

 
131,017

 
(675
)
 
292

 
1

 
70,593

 
(645
)
Total mortgage commitment derivatives
 
98,507

 
455

 
143,434

 
(688
)
 
45,312

 
379

 
71,695

 
(648
)
Credit enhancement derivatives
 
31,809

 
51

 
4,647

 
(31
)
 
33,431

 
57

 
919

 
(11
)
Derivatives at fair value
 
$
307,347

 
$
561

 
$
238,750

 
$
(799
)
 
$
266,935

 
$
458

 
$
161,488

 
$
(777
)
(1) 
Futures have no ascribable fair value because the positions are settled daily.
(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 $1.2 billion and $713 million as of June 30, 2019 and December 31, 2018, respectively. Cash collateral received was $573 million and $664 million as of June 30, 2019 and December 31, 2018, 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 June 30,
 
For the Six Months Ended June 30,
 
 
 
 
 
2019
 
2018
 
2019
 
2018
 
 
(Dollars in millions)
Risk management derivatives:
 
 
 
 
 
 
 
 
Swaps:
 
 
 
 
 
 
 
 
Pay-fixed
 
$
(2,164
)
 
$
967

 
$
(3,499
)
 
$
3,750

Receive-fixed
 
1,884

 
(597
)
 
3,165

 
(2,984
)
Basis
 
27

 
(3
)
 
51

 
(26
)
Foreign currency
 
(17
)
 
(41
)
 
2

 
(25
)
Swaptions:
 
 
 
 
 
 
 
 
Pay-fixed
 
(143
)
 
36

 
(320
)
 
165

Receive-fixed
 
93

 
(22
)
 
100

 
(38
)
Futures
 
195

 
(11
)
 
254

 
(3
)
Net accrual of periodic settlements
 
(242
)
 
(286
)
 
(508
)
 
(501
)
Total risk management derivatives fair value gains (losses), net
 
(367
)
 
43

 
(755
)
 
338

Mortgage commitment derivatives fair value gains (losses), net
 
(469
)
 
(76
)
 
(769
)
 
488

Credit enhancement derivatives fair value losses, net
 
(17
)
 
(5
)
 
(24
)
 
(1
)
Total derivatives fair value gains (losses), net
 
$
(853
)
 
$
(38
)
 
$
(1,548
)
 
$
825