v3.25.1
Derivatives and Hedging Activities Derivative Notional Amounts (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives $ 69,619,744 $ 79,213,095
Estimated fair value of derivative assets 509,980 679,681
Estimated fair value of derivative liabilities 850,543 1,021,536
Netting adjustments and cash collateral, derivative asset [1],[2] (67,419) (201,614)
Netting adjustments and cash collateral, derivative liability [1],[2] (841,219) (1,012,234)
Total derivatives, net, at estimated fair value 442,561 478,067
Total derivatives, net, at estimated fair value 9,324 9,302
Cash collateral pledged to counterparties 942,487 1,030,169
Cash collateral received from counterparties 168,687 219,550
Derivatives designated as hedging instruments | Interest-rate swaps    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 60,104,900 64,974,465
Estimated fair value of derivative assets 507,279 676,279
Estimated fair value of derivative liabilities 848,767 1,020,918
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 9,514,844 14,238,630
Estimated fair value of derivative assets 2,701 3,402
Estimated fair value of derivative liabilities 1,776 618
Derivatives not designated as hedging instruments | Interest-rate swaps    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 7,825,000 13,117,348
Estimated fair value of derivative assets 1,511 624
Estimated fair value of derivative liabilities 1,612 247
Derivatives not designated as hedging instruments | Swaptions    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 500,000 0
Estimated fair value of derivative assets 77 0
Estimated fair value of derivative liabilities 0 0
Derivatives not designated as hedging instruments | Interest-rate caps/floors    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 906,100 906,100
Estimated fair value of derivative assets 649 1,174
Estimated fair value of derivative liabilities 0 0
Derivatives not designated as hedging instruments | Interest-rate forwards    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 142,100 107,500
Estimated fair value of derivative assets 22 1,563
Estimated fair value of derivative liabilities 158 0
MDCs | Derivatives not designated as hedging instruments | Interest-rate forwards    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 141,644 107,682
Estimated fair value of derivative assets 442 41
Estimated fair value of derivative liabilities $ 6 $ 371
[1] Represents the application of the netting requirements that allow us to settle (i) positive and negative positions and (ii) cash collateral and related accrued interest held or placed with the same clearing agent and/or counterparty.
[2] Represents the application of the netting requirements that allow us to settle (i) positive and negative positions and (ii) cash collateral and related accrued interest held or placed, with the same clearing agent and/or counterparty. Cash collateral pledged to counterparties at March 31, 2025 and December 31, 2024, including accrued interest, totaled $942,487 and $1,030,169, respectively. Cash collateral received from counterparties and held at March 31, 2025 and December 31, 2024, including accrued interest, totaled $168,687 and $219,550, respectively.