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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 08/05/2011
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Table of Contents

 
Table 29:  Outstanding Short-Term Borrowings and Long-Term Debt(1)
 
                                         
    As of  
    June 30, 2011     December 31, 2010  
              Weighted-
              Weighted-
 
              Average
              Average
 
              Interest
              Interest
 
    Maturities   Outstanding     Rate     Maturities   Outstanding     Rate  
    (Dollars in millions)  
 
Federal funds purchased and securities sold under agreements to repurchase
    $       %     $ 52       2.20 %
                                         
Short-term debt:
                                       
Fixed-rate:
                                       
Discount notes
    $ 161,689       0.16 %     $ 151,500       0.32 %
Foreign exchange discount notes
      316       2.30         384       2.43  
                                         
Total short-term debt of Fannie Mae(2)
        162,005       0.17           151,884       0.32  
Debt of consolidated trusts
      5,193       0.17         5,359       0.23  
                                         
Total short-term debt
      $ 167,198       0.17 %       $ 157,243       0.32 %
                                         
Long-term debt:
                                       
Senior fixed:
                                       
Benchmark notes and bonds
  2011 - 2030   $ 273,366       3.00 %   2011 - 2030   $ 300,344       3.20 %
Medium-term notes
  2011 - 2021     164,043       2.15     2011 - 2020     199,266       2.13  
Foreign exchange notes and bonds
  2017 - 2028     1,223       5.98     2017 - 2028     1,177       6.21  
Other(3)
  2011 - 2040     45,568       5.63     2011 - 2040     44,893       5.64  
                                         
Total senior fixed
        484,200       2.97           545,680       3.02  
Senior floating:
                                       
Medium-term notes
  2011 - 2016     70,546       0.25     2011 - 2015     72,039       0.31  
Other(3)
  2020 - 2037     368       5.84     2020 - 2037     386       4.92  
                                         
Total senior floating
        70,914       0.28           72,425       0.34  
Subordinated fixed-rate:
                                       
Qualifying subordinated(4)
  2012 - 2014     4,893       5.08     2011 - 2014     7,392       5.47  
Subordinated debentures
  2019     2,787       9.91     2019     2,663       9.91  
                                         
Total subordinated fixed-rate
        7,680       6.83           10,055       6.65  
                                         
Total long-term debt of Fannie Mae(5)
        562,794       2.68           628,160       2.77  
Debt of consolidated trusts(3)
  2011 - 2051     2,444,853       4.54     2011 - 2051     2,411,597       4.59  
                                         
Total long-term debt
      $ 3,007,647       4.20 %       $ 3,039,757       4.22 %
                                         
Outstanding callable debt of Fannie Mae(6)
      $ 170,133       2.74 %       $ 219,804       2.53 %
 
 
(1) Outstanding debt amounts and weighted-average interest rates reported in this table include the effect of unamortized discounts, premiums and other cost basis adjustments. Reported amounts include fair value gains and losses associated with debt that we elected to carry at fair value. The unpaid principal balance of outstanding debt of Fannie Mae, which excludes unamortized discounts, premiums and other cost basis adjustments and debt of consolidated trusts, totaled $734.5 billion and $792.6 billion as of June 30, 2011 and December 31, 2010, respectively.
 
(2) 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. Reported amounts include a net discount and other cost basis adjustments of $67 million and $128 million as of June 30, 2011 and December 31, 2010, respectively.
 
(3) Includes a portion of structured debt instruments that is reported at fair value.
 
(4) Consists of subordinated debt with an interest deferral feature.
 
(5) Long-term debt of Fannie Mae consists of borrowings with an original contractual maturity of greater than one year. Reported amounts include the current portion of long-term debt that is due within one year, which totaled $78.9 billion and $95.4 billion as of June 30, 2011 and December 31, 2010, respectively. Reported amounts also include unamortized discounts, premiums and other cost basis adjustments of $9.7 billion and $12.4 billion as of June 30,


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