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Financial Instruments Derivative Activities Table (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015
--- | --- | ---
Credit swaps(1) |  |  |
Derivative [Line Items] |  |  |
Long Notional Exposure | [1] | $ 192 | $ 187
Notional value of interest rate swap agreements |  | 4,100 | 10,000
Short Notional Exposure | [1] | 917 | 2,306
Equity swaps |  |  |
Derivative [Line Items] |  |  |
Long Notional Exposure |  | 209 | 1,343
Short Notional Exposure |  | 15,325 | 14,167
Foreign currency forwards |  |  |
Derivative [Line Items] |  |  |
Long Notional Exposure |  | 0 | 0
Short Notional Exposure |  | 883 | 842
Interest rate swap contracts |  |  |
Derivative [Line Items] |  |  |
Long Notional Exposure | [2] | 0 | 0
Notional value of interest rate swap agreements |  | 16,000 |
Short Notional Exposure | [2] | 63 | 137
Notional Exposure of Derivatives, Short Position, less than three months |  | 74 |
Commodity contracts |  |  |
Derivative [Line Items] |  |  |
Long Notional Exposure |  | 26 | 43
Short Notional Exposure |  | $ 1,220 | $ 643
[1] | The short notional amount on our credit default swap positions is approximately $4.1 billion and $10.0 billion as of March 31, 2016 and December 31, 2015, respectively. However, because credit spreads cannot compress below zero, our downside short notional exposure to loss is approximately $0.9 billion and $2.3 billion as of March 31, 2016 and December 31, 2015, respectively.
[2] | The short notional amount on certain of our interest rate contracts with a three month duration is approximately $16.0 billion as of December 31, 2015. We assume that interest rates will not fall below zero and therefore our downside short notional exposure to loss on these contracts is $74 million (of the total $137 million disclosed in the above table) as of December 31, 2015.

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