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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 as of March 31, 2015
 
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Netting Adjustment(1)
 
 
Estimated Fair Value
  
 
(Dollars in millions)
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Of Fannie Mae:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior floating
 
$

 
 
 
$
7,529

 
 
 
$
391

 
 
 
$

 
 
 
$
7,920

 
Total of Fannie Mae
 

 
 
 
7,529

 
 
 
391

 
 
 

 
 
 
7,920

 
Of consolidated trusts
 

 
 
 
20,826

 
 
 
547

 
 
 

 
 
 
21,373

 
Total long-term debt
 

 
 
 
28,355

 
 
 
938

 
 
 

 
 
 
29,293

 
Other liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Risk management derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Swaps
 

 
 
 
11,078

 
 
 
145

 
 
 

 
 
 
11,223

 
Swaptions
 

 
 
 
1,047

 
 
 

 
 
 

 
 
 
1,047

 
Other
 

 
 
 

 
 
 
1

 
 
 

 
 
 
1

 
Netting adjustment
 

 
 
 

 
 
 

 
 
 
(12,036
)
 
 
 
(12,036
)
 
Mortgage commitment derivatives
 

 
 
 
564

 
 
 
3

 
 
 

 
 
 
567

 
Total other liabilities
 

 
 
 
12,689

 
 
 
149

 
 
 
(12,036
)
 
 
 
802

 
Total liabilities at fair value
 
$

 
 
 
$
41,044

 
 
 
$
1,087

 
 
 
$
(12,036
)
 
 
 
$
30,095

 


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