Print Page  |  Close Window

SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/06/2011
Entire Document
 
Table of Contents

FANNIE MAE
(In conservatorship)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
 
Long-Term Debt
 
Long-term debt represents borrowings with an original contractual maturity of greater than one year. The following table displays our outstanding long-term debt as of March 31, 2011 and December 31, 2010.
 
                                         
    As of  
    March 31, 2011     December 31, 2010  
              Weighted-
              Weighted-
 
              Average
              Average
 
              Interest
              Interest
 
    Maturities   Outstanding     Rate(1)     Maturities   Outstanding     Rate(1)  
    (Dollars in millions)  
 
Senior fixed:
                                       
Benchmark notes and bonds
  2011 - 2030   $ 291,851       3.14 %   2011 - 2030   $ 300,344       3.20 %
Medium-term notes
  2011 - 2021     190,950       2.00     2011 - 2020     199,266       2.13  
Foreign exchange notes and bonds
  2017 - 2028     1,204       6.07     2017 - 2028     1,177       6.21  
Other long-term debt(2)
  2011 - 2040     47,630       5.64     2011 - 2040     44,893       5.64  
                                         
Total senior fixed
        531,635       2.96           545,680       3.02  
Senior floating:
                                       
Medium-term notes
  2011 - 2016     74,454       0.30     2011 - 2015     72,039       0.31  
Other long-term debt(2)
  2020 - 2037     389       5.27     2020 - 2037     386       4.92  
                                         
Total senior floating
        74,843       0.32           72,425       0.34  
Subordinated fixed:
                                       
Qualifying subordinated(3)
  2012 - 2014     4,893       5.08     2011 - 2014     7,392       5.47  
Subordinated debentures
  2019     2,724       9.91     2019     2,663       9.91  
                                         
Total subordinated fixed
        7,617       6.80           10,055       6.65  
                                         
Total long-term debt of Fannie Mae(4)
        614,095       2.69           628,160       2.77  
Debt of consolidated trusts(2)
  2011 - 2051     2,442,433       4.61     2011 - 2051     2,411,597       4.59  
                                         
Total long-term debt
      $ 3,056,528       4.23 %       $ 3,039,757       4.22 %
                                         
 
 
(1) Includes the effects of discounts, premiums and other cost basis adjustments.
 
(2) Includes a portion of structured debt instruments that is reported at fair value.
 
(3) Consists of subordinated debt issued with an interest deferral feature.
 
(4) Reported amounts include a net discount and other cost basis adjustments of $11.4 billion and $12.4 billion as of March 31, 2011 and December 31, 2010, respectively.
 
Intraday Lines of Credit
 
We periodically use secured and unsecured intraday funding lines of credit provided by several large financial institutions. We post collateral which, in some circumstances, the secured party has the right to repledge to third parties. As these lines of credit are uncommitted intraday loan facilities, we may be unable to draw on them if and when needed. We had secured uncommitted lines of credit of $25.0 billion and unsecured uncommitted lines of credit of $500 million as of both March 31, 2011 and December 31, 2010. We had no borrowings outstanding from these lines of credit as of March 31, 2011.


117