Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 309

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 309
---
 — 6,126 Derivative liabilities, netFV - NI873 — 8,608 63 (7,798)873 Other liabilities(5)FV - NI14 — 465 194 — 659 Total other liabilities6,338 — 9,176 6,280 (7,798)7,658 Total financial liabilities$3,214,684 $— $2,856,072 $10,398 ($18,043)$2,848,427 (1)FV - NI denotes fair value through net income. FV - OCI denotes fair value through other comprehensive income.(2)Excludes allowance for credit losses on off-balance sheet credit exposure.(3)Represents counterparty netting and cash collateral netting, and includes accrued interest receivable and payable.(4)The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were  $3.2 trillion, $4.2 billion and $13.8 billion as of December 31, 2024, respectively, and $3.1 trillion, $5.6 billion and $9.2 billion as of December 31, 2023, respectively.(5)For other assets, includes advances to lenders, secured lending, and loan commitments. For other liabilities, includes loan commitments.(6)The GAAP carrying amounts measured at amortized cost and FV - NI were $3.3 trillion and $2.3 billion as of December 31, 2024, respectively, and $3.2 trillion and $2.5 billion as of December 31, 2023, respectively.

Fair Value OptionWe elected the fair value option for certain mortgage loans and loan commitments and certain debt issuances. Mortgage Loans and Loan CommitmentsWe elected the fair value option for certain fixed-rate multifamily loan purchase commitments and certain multifamily loans that were acquired for securitization to offset the changes in fair value of the derivatives that we use to economically hedge the interest rate risk of the loans and commitments. The multifamily loans are classified either as held-for-investment or as held-for-sale on our consolidated balance sheets based on management's intent and ability and are measured at fair value on a 

FREDDIE MAC  |  2024 Form 10-K208

Financial Statements