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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 11/02/2018
Entire Document
 
 
Notes to Condensed Consolidated Financial Statements | Fair Value


The following tables display a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3). The tables also display gains and losses due to changes in fair value, including realized and unrealized gains and losses, recognized in our condensed consolidated statements of operations and comprehensive income for Level 3 assets and liabilities. When assets and liabilities are transferred between levels, we recognize the transfer as of the end of the period.
 
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
 
For the Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of September 30,
2018(5)(6)
 
 
 
Total Gains (Losses)
(Realized/Unrealized)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, June 30, 2018
 
Included in Net Income
 
Included in Total Other Comprehensive
Income (Loss)(1)
 
Purchases
 
Sales
 
Issues(3)
 
Settlements(3)
 
Transfers out of Level 3
 
Transfers into
Level 3
 
Balance, September 30, 2018
 
 
(Dollars in millions)
Trading securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-related:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fannie Mae
$
79

 
$
(3
)
 
 
$

 
 
$

 
$

 
$

 
$

 
$

 
$

 
$
76

 
 
$
2

 
Mortgage revenue bonds
1

 

 
 

 
 

 

 

 

 

 

 
1

 
 

 
Total trading securities
$
80

 
$
(3
)
(6)(7) 
 
$

 
 
$

 
$

 
$

 
$

 
$

 
$

 
$
77

 
 
$
2

 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-related:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fannie Mae
$
204

 
$

 
 
$
(1
)
 
 
$

 
$

 
$

 
$
(3
)
 
$

 
$

 
$
200

 
 
$

 
Alt-A and subprime private-label securities
26

 

 
 

 
 

 

 

 
(2
)
 

 

 
24

 
 

 
Mortgage revenue bonds
506

 
1

 
 
(3
)
 
 

 
(4
)
 

 
(36
)
 

 

 
464

 
 

 
Other
357

 
7

 
 
(7
)
 
 

 

 

 
(9
)
 

 

 
348

 
 

 
Total available-for-sale securities
$
1,093

 
$
8

(7)(8) 
 
$
(11
)
 
 
$

 
$
(4
)
 
$

 
$
(50
)
 
$

 
$

 
$
1,036

 
 
$

 
Mortgage loans
$
1,018

 
$
7

(6)(7) 
 
$

 
 
$

 
$

 
$

 
$
(47
)
 
$
(44
)
 
$
31

 
$
965

 
 
$
2

 
Net derivatives
117

 
(18
)
(6) 
 

 
 

 

 

 
(1
)
 

 

 
98

 
 
(27
)
 
Long-term debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Of Fannie Mae:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior floating
$
(354
)
 
$
7

 
 
$

 
 
$

 
$

 
$

 
$

 
$

 
$

 
$
(347
)
 
 
$
7

 
Of consolidated trusts
(319
)
 
2

 
 

 
 

 

 

 
4

 
172

 
(22
)
 
(163
)
 
 

 
Total long-term debt
$
(673
)
 
$
9

(6) 
 
$

 
 
$

 
$

 
$

 
$
4

 
$
172

 
$
(22
)
 
$
(510
)
 
 
$
7

 
 

Fannie Mae (In conservatorship) Third Quarter 2018 Form 10-Q
92