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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/06/2011
Entire Document
 
Table of Contents

FANNIE MAE
(In conservatorship)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
 
Fair Value Gains (Losses), Net
 
The following table displays the composition of “Fair value gains (losses), net” for the three months ended March 31, 2011 and 2010.
 
                 
    For the Three Months Ended
 
    March 31,  
    2011     2010  
    (Dollars in millions)  
 
Derivatives fair value gains (losses), net
  $ 139     $ (2,762 )
Trading securities gains, net
    225       1,058  
Other, net
    (75 )     (1 )
                 
Fair value gains (losses), net
  $ 289     $ (1,705 )
                 
 
Reclassifications
 
To conform to our current period presentation, we have reclassified and condensed certain amounts reported in our condensed consolidated financial statements. The following table displays the line items that were reclassified and condensed in our condensed consolidated balance sheet as of December 31, 2010.
 
                 
    As of December 31, 2010  
    Before
    After
 
    Reclassification     Reclassification  
    (Dollars in millions)  
 
Reclassified lines to:
               
Assets:
               
Servicer and MBS trust receivable
  $ 951     $    
Other assets
    25,875       26,826  
Liabilities:
               
Short-term debt:
               
Of Fannie Mae
    151,884          
Of consolidated trusts
    5,359          
Long-term debt:
               
Of Fannie Mae
    628,160          
Of consolidated trusts
    2,411,597          
Debt:
               
Of Fannie Mae
            780,044  
Of consolidated trusts
            2,416,956  
Reserve for guaranty losses
    323          
Service and MBS trust payable
    2,950          
Other liabilities
    10,400       13,673  


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