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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/07/2015
Entire Document
 





FANNIE MAE
(In conservatorship)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
(UNAUDITED)


8.  Short-Term Borrowings and Long-Term Debt
Short-Term Borrowings
The following table displays our outstanding short-term borrowings (borrowings with an original contractual maturity of one year or less) and weighted-average interest rates of these borrowings as of March 31, 2015 and December 31, 2014.
 
As of
  
March 31, 2015
 
December 31, 2014
 
Outstanding
 
Weighted- Average Interest Rate(1)
 
Outstanding
 
Weighted- Average Interest Rate(1)
 
 
(Dollars in millions) 
 
Federal funds purchased and securities sold under agreements to repurchase(2)
 
$
87

 
 
 
%
 
 
 
$
50

 
 
 
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt of Fannie Mae
 
$
99,349

 
 
 
0.14
%
 
 
 
$
105,012

 
 
 
0.11
%
 
Debt of consolidated trusts
 
1,463

 
 
 
0.12

 
 
 
1,560

 
 
 
0.09

 
Total short-term debt
 
$
100,812

 
 
 
0.14
%
 
 
 
$
106,572

 
 
 
0.11
%
 
__________
(1) 
Includes the effects of discounts, premiums and other cost basis adjustments.
(2) 
Represents agreements to repurchase securities for a specified price, with repayment generally occurring on the following day.
Intraday Line of Credit
We periodically use a secured intraday funding line of credit provided by a large financial institution. We post collateral which, in some circumstances, the secured party has the right to repledge to third parties. As this line of credit is an uncommitted intraday loan facility, we may be unable to draw on it if and when needed. The line of credit under this facility was $15.0 billion as of March 31, 2015 and December 31, 2014. We had no borrowings outstanding from this line of credit as of March 31, 2015.

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