Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 265

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 265
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31, 2024. We regularly review the market value of securities pledged as collateral and derivative counterparty collateral posting thresholds, where applicable, in an effort to manage our exposure to losses.For certain OTC derivatives, the amount of collateral we pledge to counterparties related to our derivative instruments is determined after giving consideration to our credit rating. None of our OTC derivative instruments containing credit-risk related contingent features, netted by counterparty, were in a liability position at December 31, 2024 or December 31, 2023 and, as a result, we did not post cash or non-cash collateral in the normal course of business. Therefore, as of both December 31, 2024 and December 31, 2023, a downgrade in our credit ratings would not have required us to post additional collateral to our counterparties.The table below presents offsetting and collateral information related to derivatives which are subject to enforceable master netting agreements or similar arrangements.Table 9.2 - Offsetting of DerivativesDecember 31, 2024December 31, 2023 Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities(In millions)OTC derivatives$6,360 ($6,315)$6,165 ($7,866)Cleared and exchange-traded derivatives74 — 13 (36)Mortgage commitment derivatives53 (40)47 (10)Other94 (881)3 (795)Total derivatives6,581 (7,236)6,228 (8,707)Counterparty netting(3,906)3,906 (4,210)4,210 Cash collateral netting(1)(2,174)2,376 (1,532)3,624 Net amount presented in the consolidated balance sheets501 (954)486 (873)Gross amount not offset in the consolidated balance sheets(2)(190)11 (366)47 Net amount$311 ($943)$120 ($826)(1)Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset.(2)Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability, netted by counterparty, presented on the consolidated balance sheets. 

FREDDIE MAC  |  2024 Form 10-K177