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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 11/02/2018
Entire Document
 
 
MD&A | Liquidity and Capital Management


Liquidity and Capital Management
Liquidity Management
This section supplements and updates information regarding liquidity risk management in our 2017 Form 10-K. See “MD&ALiquidity and Capital ManagementLiquidity Management” and “Risk Factors” in our 2017 Form 10-K for additional information, including discussions of our primary sources and uses of funds, our liquidity risk management practices and liquidity contingency planning, factors that influence our debt funding activity, factors that may impact our access to or the cost of our debt funding, and factors that could adversely affect our liquidity.
Debt Funding
Outstanding Debt
Total outstanding debt of Fannie Mae excludes debt of consolidated trusts. Short-term debt of Fannie Mae consists of borrowings with an original contractual maturity of one year or less and, therefore, does not include the current portion of long-term debt. Long-term debt of Fannie Mae consists of borrowings with an original contractual maturity of greater than one year.
The chart and table below display information on our outstanding short-term and long-term debt of Fannie Mae based on original contractual maturity. The total amount of our outstanding debt of Fannie Mae decreased as of September 30, 2018 compared with December 31, 2017 primarily due to lower funding needs as our retained mortgage portfolio continued to decrease during the first nine months of 2018.
http://api.tenkwizard.com/cgi/image?quest=1&rid=23&ipage=12526611&doc=13
Selected Debt Information
 
 
As of
 
 
December 31, 2017
 
September 30, 2018
 
 
(Dollars in billions)
Selected Weighted-Average Interest Rates(1)
 
 
 
 
Interest rate on short-term debt
 
1.18
%
 
2.06
%
Interest rate on long-term debt, including portion maturing within one year
 
2.40
%
 
2.75
%
Interest rate on callable long-term debt
 
2.31
%
 
2.82
%
Selected Maturity Data
 
 
 
 
Weighted-average maturity of debt maturing within one year (in days)
 
123

 
149

Weighted-average maturity of debt maturing in more than one year (in months)
 
57

 
61

Other Data
 
 
 
 
Outstanding callable debt
 
$
72.3

 
$
67.1

Connecticut Avenue Securities(2)
 
$
22.5

 
$
25.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Fannie Mae Third Quarter 2018 Form 10-Q
43