Freddie Mac 2014 Annual Report Download - page 224

219 Freddie Mac
Table 16.2 — Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis
Using Significant Unobservable Inputs
Year Ended December 31, 2014
Realized and unrealized gains (losses)
Balance,
January 1,
2014 Included in earnings(1)
Included in
other
comprehensive
income(1) Total Purchases Issues Sales Settlements,
net
Transfers
into
Level 3(2)
Transfers
out of
Level 3(2)
Balance,
December 31,
2014
Unrealized
gains
(losses)
still held
in millions
Assets
Investments in
securities:
Available-for-sale,
at fair value:
Mortgage-
related
securities:
Freddie Mac $ 1,939 $ 2 $ 71 $ 73 $ 5,742 $ — $(3,346) $ (138) $ 3 $ (42) $ 4,231 $ —
Fannie Mae 131 — (2) (2) 48 — (59) (29) 45 (49) 85 —
Ginnie Mae 12 — — — — — (6) (3) 1 — 4 —
CMBS 3,109 — 397 397 — — (1) (31) — — 3,474 —
Subprime 27,499 (524) 2,778 2,254 — — (7,469) (1,695) — — 20,589 (794)
Option ARM 6,574 (71) 232 161 — — (791) (295) — — 5,649 (102)
Alt-A and
other 8,706 111 158 269 — — (3,659) (272) — (17) 5,027 (42)
Obligations
of states and
political
subdivisions 3,495 1 71 72 1 — (13) (1,357) — — 2,198 —
Manufactured
housing 684 — 28 28 — — — (74) — — 638 —
Total
available-
for-sale
mortgage-
related
securities 52,149 (481) 3,733 3,252 5,791 — (15,344) (3,894) 49 (108) 41,895 (938)
Trading, at fair
value:
Mortgage-
related
securities:
Freddie Mac 343 8 — 8 2,282 95 (1,690) (43) — (68) 927 11
Fannie Mae 221 (45) — (45) 79 — — (14) 21 (30) 232 (45)
Ginnie Mae 74 — — — 1 — (70) (4) — — 1 (2)
Other 8 (1) — (1) — — — (3) — — 4 (1)
Total
trading
mortgage-
related
securities 646 (38) — (38) 2,362 95 (1,760) (64) 21 (98) 1,164 (37)
Other assets:
Guarantee asset(3) 1,611 (184) — (184) — 427 — (228) — — 1,626 (263)
All other, at fair
value 9 (4) — (4) — — — — — — 5 (4)
Total other
assets 1,620 (188) — (188) — 427 — (228) — — 1,631 (267)
Realized and unrealized (gains) losses
Balance,
January 1,
2014 Included in earnings(1)
Included in
other
comprehensive
income(1) Total Purchases Issues Sales Settlements,
net
Transfers
into
Level 3(2)
Transfers
out of
Level 3(2)
Balance,
December 31,
2014
Unrealized
(gains)
losses
still held
(in millions)
Liabilities
Other debt, at fair
value $ 1,528 $ (7) $ — $ (7) $ — $ — $ — $ (1,521) $ — $ — $ — $ —
Net derivatives(4) 325 (94) — (94) — — — 60 — (281) 10 (30)
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