Investments in Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments In Trading Securities

The following table displays our investments in

trading securities.

	As of December 31,
	2023	2022
	(Dollars in millions)
Mortgage-related securities (includes $364 million and $427 million, respectively, related to consolidated trusts)	$4,770	$3,211
Non-mortgage-related securities (includes $5.7 billion and $3.9 billion, respectively, pledged as collateral)(1)	47,782	46,918
Total trading securities	$52,552	$50,129

(1)Primarily includes U.S. Treasury securities.

Schedule of Trading Securities Gains (Losses), Net

The following table displays information about our net trading gains (losses).

	For the Year Ended December 31,
	2023		2022		2021
	(Dollars in millions)
Net trading gains (losses)		$1,006		$(3,504)		$(1,060)
Net trading gains (losses) recognized in the period related to securities still held at period end		1,041		(2,865)		(997)

Schedule of Available-for-sale Securities Reconciliation

The following tables display the amortized cost, allowance for credit losses, gross unrealized gains and losses in

accumulated other comprehensive income (loss) (“AOCI”), and fair value by major security type for AFS securities.

	As of December 31, 2023
	Total Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains in AOCI		Gross Unrealized Losses in AOCI		Total Fair Value
	(Dollars in millions)
Agency securities		$405		$—		$1		$(29)		$377
Other mortgage-related securities		179		(2)		10		—		187
Total		$584		$(2)		$11		$(29)		$564

	As of December 31, 2022
	Total Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains in AOCI		Gross Unrealized Losses in AOCI		Total Fair Value
	(Dollars in millions)
Agency securities		$445		$—		$3		$(22)		$426
Other mortgage-related securities		269		(3)		5		(1)		270
Total		$714		$(3)		$8		$(23)		$696

Available-for-sale, Unrealized Loss Position, Fair Value

The following table displays additional information regarding gross unrealized losses and fair value by major security

type for AFS securities in an unrealized loss position, excluding allowance for credit losses.

	As of December 31,
	2023						2022
	Less Than 12 Consecutive Months			12 Consecutive Months or Longer			Less Than 12 Consecutive Months			12 Consecutive Months or Longer
	Gross Unrealized Losses in AOCI		Fair Value	Gross Unrealized Losses in AOCI		Fair Value	Gross Unrealized Losses in AOCI		Fair Value	Gross Unrealized Losses in AOCI		Fair Value
	(Dollars in millions)
Agency securities		$(3)	$66		$(26)	$238		$(12)	$161		$(10)	$159
Other mortgage-related securities		—	—		—	—		(1)	8		—	—
Total		$(3)	$66		$(26)	$238		$(13)	$169		$(10)	$159