Voya 2013 Annual Report Download - page 284

ING U.S., Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
The maximum length of time over which the Company is hedging its exposure to the variability in future cash
flows for forecasted transactions is through the fourth quarter of 2016.
Although the Company has not elected to net its derivative exposures, the notional amounts and fair values of
OTC and cleared derivatives excluding exchange traded contracts and forward contracts (To Be Announced
mortgage-backed securities) are presented in the tables below as of the dates indicated:
December 31, 2013
Notional Amount Assets Fair Value Liability Fair Value
Credit contracts ................................... $ 3,221.0 $ 40.5 $ 14.5
Equity contracts .................................. 4,513.5 170.7 32.0
Foreign exchange contracts ......................... 1,456.4 24.1 44.9
Interest rate contracts .............................. 64,734.1 912.0 1,239.5
$1,147.3 $1,330.9
Counterparty netting(1) ............................. (701.0) (701.0)
Cash collateral netting(1) ............................ (241.7) (15.7)
Securities collateral netting(1) ........................ (35.9) (479.1)
Net receivables/payables ........................... $ 168.7 $ 135.1
(1) Represents the netting of receivable balances with payable balances, net of collateral, for the same
counterparty under eligible netting rules.
December 31, 2012
Notional Amount Assets Fair Value Liability Fair Value
Credit contracts ................................... $ 3,106.0 $ 63.3 $ 52.7
Equity contracts .................................. 3,967.0 79.1 19.1
Foreign exchange contracts ......................... 1,985.8 11.3 95.0
Interest rate contracts .............................. 69,107.7 2,196.5 1,559.9
$ 2,350.2 $ 1,726.7
Counterparty netting(1) ............................. (1,126.9) (1,126.9)
Cash collateral netting(1) ............................ (943.4) (85.7)
Securities collateral netting(1) ........................ (68.6) (395.6)
Net receivables/payables ........................... $ 211.3 $ 118.5
(1) Represents the netting of receivable balances with payable balances, net of collateral, for the same
counterparty under eligible netting rules.
Collateral
Under the terms of the Company’s Over-The-Counter (“OTC”) Derivative International Swaps and Derivatives
Association, Inc. (“ISDA”) agreements, the Company may receive from, or deliver to, counterparties collateral to
assure that all terms of the ISDA agreements will be met with regard to the Credit Support Annex (“CSA”). The
terms of the CSA call for the Company to pay interest on any cash received equal to the Federal Funds rate. To
the extent cash collateral is received and delivered, it is included in Payables under securities loan agreements,
including collateral held and Short-term investments under securities loan agreements, including collateral
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