Annual report pursuant to Section 13 and 15(d)

Trading Securities, at Fair Value (Notes)

v2.4.0.8
Trading Securities, at Fair Value (Notes)
 12 Months Ended
Dec. 31, 2013
Trading Securities, at Fair Value [Abstract]  
Trading Securities, at Fair Value
Trading Securities, at Fair Value
The Company holds U.S. Treasuries in a TRS and classifies these securities as trading instruments due to short-term investment objectives. As of December 31, 2013 and December 31, 2012, the Company held U.S. Treasuries with an amortized cost of $996.1 million and $997.0 million, and a fair value of $1.0 billion for both periods, classified as trading securities. The unrealized gains included within trading securities were $4.1 million and $5.0 million as of December 31, 2013 and December 31, 2012, respectively.
For the years ended December 31, 2013, 2012 and 2011, the Company sold trading securities for $1.0 billion, $1.0 billion and $1.2 billion with an amortized cost of $997.9 million, $1.0 billion and $1.2 billion, resulting in realized gains of $3.0 million, $1.7 million and $3.3 million, respectively, on the sale of these securities. For the year ended December 31, 2013, trading securities experienced change in unrealized losses of $1.0 million and, for the years ended December 31, 2012 and 2011, trading securities experienced change in unrealized gains of $2.0 million and $3.5 million, respectively. Both realized and unrealized gains and losses are recorded as a component of gain (loss) on investment securities in the Company’s consolidated statements of comprehensive income.
At December 31, 2013 and December 31, 2012, the Company pledged trading securities with a carrying value of $1.0 billion and $1.0 billion, respectively, as collateral for repurchase agreements. See Note 17 - Repurchase Agreements.