Navy Federal Credit Union 2013 Annual Report Download - page 69
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Navy Federal Credit Union • 2013 Financial Section
49
2013 ANNUAL REPORT
(dollars in thousands)
Active Markets for
Identical Assets
Observable
Unobservable
as of
Available-for-sale
U.S. government and federal
agency securities $ — $ 6,301,788 $ — $ 6,301,788
Residential mortgage-backed
securities — 4,673,993 — 4,673,993
Commercial mortgage-backed
securities — 14,988 — 14,988
Bank notes — 1,579,751 — 1,579,751
Municipal securities — 98,075 — 98,075
Mutual funds 10,928 — — 10,928
Total available-for-sale —
Mortgage loans awaiting sale — 1,442,868 — 1,442,868
Mortgage servicing rights — — 144,089 144,089
Other assets—Derivative
commitments — 51,842 — 51,842
$ $ $ $
Other liabilities—Derivative
commitments $ — $ 7,597 $ — $ 7,597
Total liabilities at fair
$ — $ $ — $
The following tables summarize the changes in fair value for items measured at Level 3 fair value on a
recurring basis using significant unobservable inputs at December 31, 2013 and 2012:
(dollars in thousands)
$
Net gains/(losses)
Originations 69,716
Payos/Maturities (40,349)
Gain on changes in value of MSRs 63,123
$
Change in unrealized gains related to financial instruments
still held at December 31, 2013 $ 64,669