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Derivative Instruments (Tables)
 9 Months Ended
Sep. 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 September 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
 
$
35,550

 
$
—

 
$
32,893

 
$
(1,481
)
 
$
71,416

 
$
438

 
$
21,253

 
$
(740
)
Receive-fixed
 
71,372

 
958

 
34,986

 
(103
)
 
88,799

 
1,113

 
58,399

 
(860
)
Basis
 
273

 
179

 
—

 
—

 
250

 
104

 
624

 
—

Foreign currency
 
213

 
27

 
215

 
(86
)
 
221

 
22

 
223

 
(72
)
Swaptions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay-fixed
 
4,600

 
18

 
6,375

 
(270
)
 
10,375

 
191

 
1,000

 
(4
)
Receive-fixed
 
2,875

 
203

 
4,600

 
(137
)
 
500

 
20

 
7,375

 
(338
)
Futures(1)
 
47,069

 
—

 
—

 
—

 
16,631

 
—

 
—

 
—

Total gross risk management derivatives
 
161,952

 
1,385

 
79,069

 
(2,077
)
 
188,192

 
1,888

 
88,874

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

 
287

 
—

 
(374
)
 
—

 
400

 
—

 
(419
)
Netting adjustment(2)
 
—

 
(1,663
)
 
—

 
2,299

 
—

 
(2,266
)
 
—

 
2,315

Total net risk management derivatives
 
$
161,952

 
$
9

 
$
79,069

 
$
(152
)
 
$
188,192

 
$
22

 
$
88,874

 
$
(118
)
Mortgage commitment derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage commitments to purchase whole loans
 
$
7,812

 
$
20

 
$
6,258

 
$
(26
)
 
$
4,370

 
$
29

 
$
57

 
$
—

Forward contracts to purchase mortgage-related securities
 
70,120

 
231

 
28,853

 
(85
)
 
40,650

 
349

 
1,045

 
(3
)
Forward contracts to sell mortgage-related securities
 
57,048

 
170

 
109,229

 
(305
)
 
292

 
1

 
70,593

 
(645
)
Total mortgage commitment derivatives
 
134,980

 
421

 
144,340

 
(416
)
 
45,312

 
379

 
71,695

 
(648
)
Credit enhancement derivatives
 
30,407

 
42

 
6,509

 
(27
)
 
33,431

 
57

 
919

 
(11
)
Derivatives at fair value
 
$
327,339

 
$
472

 
$
229,918

 
$
(595
)
 
$
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 $1.3 billion and $713 million as of September 30, 2019 and December 31, 2018, respectively. Cash collateral received was $684 million and $664 million as of September 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 September 30,
 
For the Nine Months Ended September 30,
 
 
 
 
 
2019
 
2018
 
2019
 
2018
 
 
(Dollars in millions)
Risk management derivatives:
 
 
 
 
 
 
 
 
Swaps:
 
 
 
 
 
 
 
 
Pay-fixed
 
$
(1,414
)
 
$
1,034

 
$
(4,913
)
 
$
4,784

Receive-fixed
 
966

 
(524
)
 
4,131

 
(3,508
)
Basis
 
24

 
(5
)
 
75

 
(31
)
Foreign currency
 
(11
)
 
(10
)
 
(9
)
 
(35
)
Swaptions:
 
 
 
 
 
 
 
 
Pay-fixed
 
(110
)
 
67

 
(430
)
 
232

Receive-fixed
 
209

 
(34
)
 
309

 
(72
)
Futures
 
42

 
—

 
296

 
(3
)
Net accrual of periodic settlements
 
(190
)
 
(285
)
 
(698
)
 
(786
)
Total risk management derivatives fair value gains (losses), net
 
(484
)
 
243

 
(1,239
)
 
581

Mortgage commitment derivatives fair value gains (losses), net
 
(177
)
 
118

 
(946
)
 
606

Credit enhancement derivatives fair value losses, net
 
(7
)
 
(1
)
 
(31
)
 
(2
)
Total derivatives fair value gains (losses), net
 
$
(668
)
 
$
360

 
$
(2,216
)
 
$
1,185