Fannie Mae 2014 Annual Report Download - page 283

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-68
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, securities
purchased under agreements to resell or similar arrangements, and securities sold under agreements to repurchase 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, 2014 and 2013.
As of December 31, 2014
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 . . . . . . . . . . . . . $ 5,461 $ (5,428) $ 33 $ — $ (33) $ —
Cleared risk management derivatives(4) . . . . . . . . . 927 242 1,169 — — 1,169
Mortgage commitment derivatives. . . . . . . . . . . . . 255 — 255 (116) (7) 132
Total derivative assets . . . . . . . . . . . . . . . . . . . . . 6,643 (5,186) 1,457 (5) (116) (40) 1,301
Securities purchased under agreements to resell or
similar arrangements(6) . . . . . . . . . . . . . . . . . . . . 47,550 — 47,550 — (47,550) —
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 54,193 $ (5,186) $ 49,007 $ (116) $ (47,590) $ 1,301
Liabilities:
OTC risk management derivatives . . . . . . . . . . . . . $ (7,836) $ 7,567 $ (269) $ — $ — $ (269)
Cleared risk management derivatives(4) . . . . . . . . . (2,627) 2,627 — — — —
Mortgage commitment derivatives. . . . . . . . . . . . . (344) — (344) 116 — (228)
Total derivative liabilities. . . . . . . . . . . . . . . . . . . (10,807) 10,194 (613) (5) 116 — (497)
Securities sold under agreements to repurchase or
similar arrangements. . . . . . . . . . . . . . . . . . . . . . (50) — (50) — 50 —
Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . $ (10,857) $ 10,194 $ (663) $ 116 $ 50 $ (497)
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 (5) (83) (20) 231
Securities purchased under agreements to resell or
similar arrangements(6) . . . . . . . . . . . . . . . . . . . . 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) (5) $ 83 $ — $ (264)