v3.25.2
Derivatives and Hedging Activities Derivative Notional Amounts (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives $ 69,136,011 $ 79,213,095
Estimated fair value of derivative assets 440,269 679,681
Estimated fair value of derivative liabilities 759,132 1,021,536
Netting adjustments and cash collateral, derivative asset [1],[2] 4,923 (201,614)
Netting adjustments and cash collateral, derivative liability [1],[2] (751,386) (1,012,234)
Total derivatives, net, at estimated fair value 445,192 478,067
Total derivatives, net, at estimated fair value 7,746 9,302
Cash collateral pledged to counterparties 895,882 1,030,169
Cash collateral received from counterparties 139,572 219,550
Derivatives designated as hedging instruments | Interest-rate swaps    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 58,884,484 64,974,465
Estimated fair value of derivative assets 437,952 676,279
Estimated fair value of derivative liabilities 757,232 1,020,918
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 10,251,527 14,238,630
Estimated fair value of derivative assets 2,317 3,402
Estimated fair value of derivative liabilities 1,900 618
Derivatives not designated as hedging instruments | Interest-rate swaps    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 9,142,939 13,117,348
Estimated fair value of derivative assets 1,441 624
Estimated fair value of derivative liabilities 601 247
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 0 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 331,100 906,100
Estimated fair value of derivative assets 373 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 139,400 107,500
Estimated fair value of derivative assets 0 1,563
Estimated fair value of derivative liabilities 1,297 0
MDCs | Derivatives not designated as hedging instruments | Interest-rate forwards    
Derivatives, Fair Value [Line Items]    
Notional amount of derivatives 138,088 107,682
Estimated fair value of derivative assets 503 41
Estimated fair value of derivative liabilities $ 2 $ 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 June 30, 2025 and December 31, 2024, including accrued interest, totaled $895,882 and $1,030,169, respectively. Cash collateral received from counterparties and held at June 30, 2025 and December 31, 2024, including accrued interest, totaled $139,572 and $219,550, respectively.