Short-Term Borrowings and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Short-Term Borrowings [Table Text Block]

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 December 31, 2012 and 2011.

	As of December 31,
	2012						2011
	Outstanding			Weighted- Average Interest Rate(1)			Outstanding			Weighted- Average Interest Rate(1)
		(Dollars in millions)
Fixed-rate short-term debt:
Discount notes(2)		$	104,730		0.15	%		$	146,301		0.13	%
Foreign exchange discount notes(3)		503			1.61			371			1.88
Other(4)		—			—			80			0.04
Total short-term debt of Fannie Mae		105,233			0.16			146,752			0.13
Debt of consolidated trusts		3,483			0.15			4,973			0.09
Total short-term debt		$	108,716		0.16	%		$	151,725		0.13	%

__________

⁽¹⁾  Includes unamortized discounts, premiums, fair value adjustments and other cost basis adjustments.

⁽²⁾  Represents unsecured general obligations with maturities ranging from overnight to 360 days from the date of issuance.

⁽³⁾  Represents foreign exchange discount notes we issue in the Euro commercial paper market with maturities ranging from 5 to 360 days which enable investors to hold short-term investments in different currencies. We do not incur foreign exchange risk on these transactions, as we simultaneously enter into foreign currency swaps that have the effect of converting debt that we issue in foreign denominated currencies into U.S. dollars.

⁽⁴⁾  Consists of foreign exchange discount notes denominated in U.S. dollars.

Long-Term Debt [Table Text Block]

The following table displays our outstanding long-term debt as of December 31, 2012 and 2011.

	As of December 31,
	2012						2011
	Maturities	Outstanding			Weighted-Average Interest Rate (1)		Maturities	Outstanding			Weighted-Average Interest Rate (1)
	(Dollars in millions)
Senior fixed:
Benchmark notes and bonds	2013 - 2030		$	251,768	2.59	%	2012 - 2030		$	277,146	2.81	%
Medium-term notes(2)	2013 - 2022		172,288		1.35		2012 - 2021		176,886		1.61
Foreign exchange notes and bonds	2021 - 2028		694		5.44		2021 - 2028		662		5.44
Other(3)(4)	2013 - 2038		40,819		4.99		2012 - 2040		50,912		5.29
Total senior fixed			465,569		2.35				505,606		2.64
Senior floating:
Medium-term notes(2)	2013 - 2019		38,633		0.27		2012 - 2016		71,855		0.32
Other(3)(4)	2020 - 2037		365		8.22		2020 - 2037		420		8.01
Total senior floating			38,998		0.33				72,275		0.35
Subordinated fixed:
Qualifying subordinated(5)	2013 - 2014		2,522		5.00		2012 - 2014		4,894		5.08
Subordinated debentures	2019		3,197		9.92		2019		2,917		9.91
Total subordinated fixed			5,719		7.75				7,811		6.88
Secured borrowings(6)	2021 - 2022		345		1.87		—		—		—
Total long-term debt of Fannie Mae(7)			510,631		2.25				585,692		2.42
Debt of consolidated trusts(4)	2013 - 2052		2,570,170		3.36		2012 - 2051		2,452,455		4.18
Total long-term debt			$	3,080,801	3.18	%			$	3,038,147	3.84	%

__________

⁽¹⁾  Includes unamortized discounts, premiums, fair value adjustments and other cost basis adjustments.

⁽²⁾  Includes long-term debt with an original contractual maturity of greater than 1 year and up to 10 years, excluding zero-coupon debt.

⁽³⁾  Includes long-term debt that is not included in other debt categories.

⁽⁴⁾  Includes a portion of structured debt instruments that is reported at fair value.

⁽⁵⁾  Consists of subordinated debt issued with an interest deferral feature.

⁽⁶⁾  Represents our remaining liability resulting from the transfers of financial assets from our consolidated balance sheets that did not qualify as a sale under the accounting guidance for the transfer of financial instruments.

⁽⁷⁾  Reported amounts include a net unamortized discount, fair value adjustments and other cost basis adjustments of $6.0 billion and $9.2 billion as of December 31, 2012 and 2011, respectively.

Long-Term Debt by Year of Maturity [Table Text Block]

The following table displays the amount of our long-term debt as of December 31, 2012 by year of maturity for each of the years 2013 through 2017 and thereafter. The first column assumes that we pay off this debt at maturity or on the call date if the call has been announced, while the second column assumes that we redeem our callable debt at the next available call date.

	Long-Term Debt by Year of Maturity			Assuming Callable Debt Redeemed at Next Available Call Date
		(Dollars in millions)
2013		$	103,187		$	252,419
2014		95,040			111,089
2015		76,591			48,130
2016		53,872			34,077
2017		90,794			42,248
Thereafter		91,147			22,668
Total debt of Fannie Mae(1)		510,631			510,631
Debt of consolidated trusts(2)		2,570,170			2,570,170
Total long-term debt(3)		$	3,080,801		$	3,080,801

__________

⁽¹⁾  Reported amount includes a net unamortized discount, fair value adjustments and other cost basis adjustments of $6.0 billion.

⁽²⁾  Contractual maturity of debt of consolidated trusts is not a reliable indicator of expected maturity because borrowers of the underlying loans generally have the right to prepay their obligations at any time.

⁽³⁾  Includes a portion of structured debt instruments that is reported at fair value.

Debt Called or Repurchased [Table Text Block]

The following table displays the amount of our debt of Fannie Mae that was called and repurchased and the associated weighted-average interest rates for the years ended December 31, 2012, 2011 and 2010.

	For the Year Ended December 31,
	2012				2011			2010
	(Dollars in millions)
Debt called		$	200,713		$	201,651		$	289,770
Weighted-average interest rate of debt called		2.0		%	2.4		%	3.1		%
Debt repurchased		$	44		$	2,887		$	1,333
Weighted-average interest rate of debt repurchased		3.8		%	3.1		%	3.3		%