Quarterly report pursuant to Section 13 or 15(d)

Trading Securities, at Fair Value (Notes)

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Trading Securities, at Fair Value (Notes)
 3 Months Ended
Mar. 31, 2015
Trading Securities [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 both March 31, 2015 and December 31, 2014, the Company held U.S. Treasuries with an amortized cost of $2.0 billion and a fair value of $2.0 billion classified as trading securities. Included within trading securities were unrealized gains of $13.4 million and $1.4 million as of March 31, 2015 and December 31, 2014, respectively.
For the three months ended March 31, 2014, the Company sold trading securities for $98.6 million with an amortized cost of $98.2 million, resulting in realized gains of $0.4 million on the sale of these securities. The Company did not sell any trading securities during the three months ended March 31, 2015.
For the three months ended March 31, 2015 and 2014, trading securities experienced change in unrealized gains of $12.0 million and losses of $0.2 million, respectively. Both realized and unrealized gains and losses are recorded as a component of gain (loss) on investment securities in the Company’s condensed consolidated statements of comprehensive income.
At both March 31, 2015 and December 31, 2014, the Company pledged trading securities with a carrying value of $2.0 billion as collateral for repurchase agreements. See Note 16 - Repurchase Agreements.