Fannie Mae 2013 Annual Report Download - page 304

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-80
17. Netting Arrangements
We use master netting arrangements, which allow us to offset certain financial instruments and collateral with the same
counterparty, to minimize counterparty credit exposure. The table below displays information related to derivatives and
securities purchased under agreements to resell or similar arrangements which are subject to an enforceable master netting
arrangement or similar agreement that are either offset or not offset in our consolidated balance sheets as of December 31,
2013 and 2012.
As of December 31, 2013
Net Amount
Presented in the
Consolidated
Balance Sheets
Amounts Not Offset in the
Consolidated Balance Sheets
Gross
Amount
Gross
Amount
Offset(1) Financial Instruments(2) Collateral(3) Net Amount
(Dollars in millions)
Assets:
OTC risk management derivatives . . . . . . $ 8,491 $ (8,422) $ 69 $ — $ (20) $ 49
Mortgage commitment derivatives . . . . . . 265 — 265 (83) — 182
Total derivative assets . . . . . . . . . . . . . . 8,756 (8,422) 334 (4) (83) (20) 231
Securities purchased under agreements to
resell or similar arrangements(5) . . . . . . 50,565 — 50,565 — (50,565) —
Total assets. . . . . . . . . . . . . . . . . . . . . . $ 59,321 $ (8,422) $ 50,899 $ (83) (50,585) $ 231
Liabilities:
OTC risk management derivatives . . . . . . $ (9,503) $ 9,370 $ (133) $ — $ — $ (133)
Mortgage commitment derivatives . . . . . . (214) — (214) 83 — (131)
Total liabilities. . . . . . . . . . . . . . . . . . . $ (9,717) $ 9,370 $ (347) (4) $ 83 $ — $ (264)
As of December 31, 2012
Net Amount
Presented in the
Consolidated
Balance Sheets
Amounts Not Offset in the
Consolidated Balance Sheets
Gross
Amount
Gross
Amount
Offset(1) Financial Instruments (2) Collateral(3) Net Amount
(Dollars in millions)
Assets:
OTC risk management derivatives . . . . . . $ 15,853 $ (15,791) $ 62 $ — $ (48) $ 14
Mortgage commitment derivatives . . . . . . 156 — 156 (92) (2) 62
Total derivative assets . . . . . . . . . . . . . . 16,009 (15,791) 218 (4) (92) (50) 76
Securities purchased under agreements to
resell or similar arrangements(5) . . . . . . 45,750 — 45,750 —(45,750) —
Total assets. . . . . . . . . . . . . . . . . . . . . . $ 61,759 $ (15,791) $ 45,968 $ (92) $ (45,800) $ 76
Liabilities:
OTC risk management derivatives . . . . . . $(22,204) $ 22,046 $ (158) $ — $ — $ (158)
Mortgage commitment derivatives . . . . . . (297) — (297) 92 —(205)
Total liabilities . . . . . . . . . . . . . . . . . . . . $ (22,501) $ 22,046 $ (455) (4) $ 92 $ — $ (363)