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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/07/2015
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FANNIE MAE
(In conservatorship)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
(UNAUDITED)


 
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
 
For the Three Months Ended March 31, 2015
 
 
 
Total (Losses) or Gains (Realized/Unrealized)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Unrealized (Losses) Gains Included in Net Income Related to Assets and Liabilities Still Held as of March 31, 2015(5)
 
Balance, December 31, 2014
 
Included in Net Income
 
Included in
Other Comprehensive
Income(1)
 
Purchases(2)
 
Sales(2)
 
Issues(3)
 
Settlements(3)
 
Transfers out of Level 3(4)
 
Transfers into
Level 3(4)
 
Balance,
March 31, 2015
 
 
(Dollars in millions)
Trading securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-related:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fannie Mae
$
305

 
$
(27
)
 
 
$

 
$

 
$

 
$

 
$

 
$
(278
)
 
$
2

 
$
2

 
 
$
(19
)
 
  Alt-A private-label securities
597

 
8

 
 

 

 

 

 
(17
)
 
(44
)
 
28

 
572

 
 
8

 
Subprime private-label securities
1,307

 
1

 
 

 

 
(398
)
 

 
(34
)
 

 

 
876

 
 
107

 
Mortgage revenue bonds
722

 
35

 
 

 

 
(12
)
 

 
(3
)
 

 

 
742

 
 
33

 
    Other
99

 
(2
)
 
 

 

 

 

 
(3
)
 

 

 
94

 
 
(2
)
 
Total trading securities
$
3,030

 
$
15

(6)(7)
 
$

 
$

 
$
(410
)
 
$

 
$
(57
)
 
$
(322
)
 
$
30

 
$
2,286

 
 
$
127

(6)(7)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-related:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fannie Mae
$

 
$

 
 
$

 
$
239

 
$
(34
)
 
$

 
$

 
$

 
$

 
$
205

 
 
$

 
Freddie Mac
6

 

 
 

 

 

 

 

 
(1
)
 

 
5

 
 

 
  Alt-A private-label securities
3,140

 
101

 
 
(78
)
 

 
(556
)
 

 
(124
)
 
(310
)
 
313

 
2,486

 
 

 
  Subprime private-label securities
5,240

 
180

 
 
(101
)
 

 
(565
)
 

 
(146
)
 

 

 
4,608

 
 

 
  Mortgage revenue bonds
4,023

 
23

 
 
52

 

 
(162
)
 

 
(376
)
 

 

 
3,560

 
 

 
    Other
2,671

 
(138
)
 
 
140

 

 

 

 
(66
)
 

 

 
2,607

 
 

 
Total available-for-sale securities
$
15,080

 
$
166

(6)(8)
 
$
13

 
$
239

 
$
(1,317
)
 
$

 
$
(712
)
 
$
(311
)
 
$
313

 
$
13,471

 
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage loans of consolidated trusts
$
1,833

 
$
34

(6)(7)
 
$

 
$
3

 
$

 
$

 
$
(77
)
 
$
(57
)
 
$
74

 
$
1,810

 
 
$
19

(6)(7)
Net derivatives
45

 
27

(7)
 

 

 

 

 
(6
)
 

 

 
66

 
 
39

(7)
Long-term debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Of Fannie Mae:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior floating
$
(363
)
 
$
(28
)
 
 
$

 
$

 
$

 
$

 
$

 
$

 
$

 
$
(391
)
 
 
$
(28
)
 
Of consolidated trusts
(527
)
 
(13
)
 
 

 

 

 

 
9

 
50

 
(66
)
 
(547
)
 
 
(12
)
 
Total long-term debt
$
(890
)
 
$
(41
)
(7)
 
$

 
$

 
$

 
$

 
$
9

 
$
50

 
$
(66
)
 
$
(938
)
 
 
$
(40
)
(7)

113