|FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 08/05/2011|
Table 48: Derivative Impact on Interest Rate Risk (50 Basis Points)
Other Interest Rate Risk Information
The interest rate risk measures discussed above exclude the impact of changes in the fair value of our net guaranty assets resulting from changes in interest rates. We exclude our guaranty business from these sensitivity measures based on our current assumption that the guaranty fee income generated from future business activity will largely replace guaranty fee income lost due to mortgage prepayments.
In MD&ARisk ManagementMarket Risk Management, Including Interest Rate Risk ManagementMeasurement of Interest Rate RiskOther Interest Rate Risk Information in our 2010 Form 10-K, we provided additional interest rate sensitivities including separate disclosure of the potential impact on the fair value of our trading assets and other financial instruments. As of June 30, 2011, these sensitivities were relatively unchanged as compared with December 31, 2010. The fair value of our trading financial instruments and our other financial instruments as of June 30, 2011 and December 31, 2010 can be found in Note 13, Fair Value.
Liquidity Risk Management
See Liquidity and Capital ManagementLiquidity Management for a discussion on how we manage liquidity risk.
IMPACT OF FUTURE ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS
We identify and discuss the expected impact on our condensed consolidated financial statements of recently issued accounting pronouncements in Note 1, Summary of Significant Accounting Policies.
This report includes statements that constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 (Exchange Act). In addition, our senior management may from time to time make forward-looking statements orally to analysts, investors, the news media and others. Forward-looking statements often include words such as expect, anticipate, intend, plan, believe, seek, estimate, forecast, project, would, should, could, likely, may, or similar words.
Among the forward-looking statements in this report are statements relating to: