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

3 Months Ended

Mar. 31, 2013

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 March 31, 2013 and December 31, 2012.

	As of
	March 31, 2013						December 31, 2012
	Outstanding			Weighted- Average Interest Rate(1)			Outstanding			Weighted- Average Interest Rate(1)
		(Dollars in millions)
Federal funds purchased and securities sold under agreements to repurchase(2)		$	218		—	%		$	—		—	%
Fixed-rate short-term debt:
Discount notes(3)		$	114,815		0.14	%		$	104,730		0.15	%
Foreign exchange discount notes(4)		470			1.57			503			1.61
Total short-term debt of Fannie Mae		115,285			0.15			105,233			0.16
Debt of consolidated trusts		3,009			0.14			3,483			0.15
Total short-term debt		$	118,294		0.15	%		$	108,716		0.16	%

__________

⁽¹⁾  Includes the effects of discounts, premiums, and other cost basis adjustments.

⁽²⁾  Securities sold under agreements to repurchase represents agreements to repurchase securities for a specified price, with repayment generally occurring on the following day.

⁽³⁾  Represents unsecured general obligations with maturities ranging from overnight to 360 days from the date of issuance.

⁽⁴⁾  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.

Long-Term Debt [Table Text Block]

The following table displays our outstanding long-term debt as of March 31, 2013 and December 31, 2012.

	As of
	March 31, 2013						December 31, 2012
	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		$	242,018	2.48	%	2013 - 2030		$	251,768	2.59	%
Medium-term notes(2)	2013 - 2023		181,264		1.26		2013 - 2022		172,288		1.35
Foreign exchange notes and bonds	2021 - 2028		648		5.41		2021 - 2028		694		5.44
Other(3)(4)	2013 - 2038		40,525		4.90		2013 - 2038		40,819		4.99
Total senior fixed			464,455		2.22				465,569		2.35
Senior floating:
Medium-term notes(2)	2013 - 2019		44,056		0.24		2013 - 2019		38,633		0.27
Other(3)(4)	2020 - 2037		348		7.68		2020 - 2037		365		8.22
Total senior floating			44,404		0.28				38,998		0.33
Subordinated fixed:
Qualifying subordinated	2013 - 2014		2,523		5.00		2013 - 2014		2,522		5.00
Subordinated debentures(5)	2019		3,272		9.92		2019		3,197		9.92
Total subordinated fixed			5,795		7.78				5,719		7.75
Secured borrowings(6)	2021 - 2022		321		1.86		2021 - 2022		345		1.87
Total long-term debt of Fannie Mae(7)			514,975		2.12				510,631		2.25
Debt of consolidated trusts(4)	2013 - 2053		2,599,274		3.28		2013 - 2052		2,570,170		3.36
Total long-term debt			$	3,114,249	3.09	%			$	3,080,801	3.18	%

__________

⁽¹⁾  Includes the effects of discounts, premiums 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 transfer of financial assets from our condensed 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 $5.6 billion and $6.0 billion as of March 31, 2013 and December 31, 2012, respectively.