Freddie Mac 2010 Annual Report Download - page 206

Consolidated VIEs
Table 4.1 represents the carrying amounts and classification of the assets and liabilities of consolidated VIEs on our
consolidated balance sheets.
Table 4.1 — Assets and Liabilities of Consolidated VIEs
Consolidated Balance Sheets Line Item 2010 2009
December 31,
(in millions)
Cash and cash equivalents .................................................................. $ 1 $ 4
Restricted cash and cash equivalents . .......................................................... 7,514 —
Federal funds sold and securities purchased under agreements to resell ................................... 29,350 —
Mortgage loans held-for-investment by consolidated trusts . . . ......................................... 1,646,172 —
Accrued interest receivable ................................................................. 6,895 —
Real estate owned, net . ................................................................... 118 —
Other assets . . . . . . . . ................................................................... 6,001 16
Total assets of consolidated VIEs . .......................................................... $1,696,051 $20
Accrued interest payable ................................................................... $ 6,502 $—
Debt securities of consolidated trusts held by third parties . . . ......................................... 1,528,648 —
Other liabilities . . . . . . ................................................................... 3,851 15
Total liabilities of consolidated VIEs . . . ...................................................... $1,539,001 $15
VIEs for which We are not the Primary Beneficiary
Table 4.2 represents the carrying amounts and classification of the assets and liabilities recorded on our consolidated
balance sheets related to our variable interests in non-consolidated VIEs, as well as our maximum exposure to loss as a result
of our involvement with these VIEs. Our involvement with VIEs for which we are not the primary beneficiary generally
takes one of two forms: (a) purchasing an investment in these entities; or (b) providing a guarantee to these entities. Our
maximum exposure to loss for those VIEs in which we have purchased an investment is calculated as the maximum potential
charge that we would recognize in our consolidated statements of operations if that investment were to become worthless.
This amount does not include other-than-temporary impairments or other write-downs that we previously recognized through
earnings. In instances where we provide financial guarantees to the VIEs, our maximum exposure represents the contractual
amounts that could be lost under the guarantees if counterparties or borrowers defaulted, without consideration of possible
recoveries under credit enhancement arrangements.
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