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

12 Months Ended

Dec. 31, 2015

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,
	2015				2014
	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)	$	62	—	%	$	50	—	%
Short-term debt of Fannie Mae	$	71,007	0.26	%	$	105,012	0.11	%
Debt of consolidated trusts	943		0.19		1,560		0.09
Total short-term debt	$	71,950	0.26	%	$	106,572	0.11	%

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

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

Long-Term Debt [Table Text Block]

The following table displays our outstanding long-term debt.

	As of December 31,
	2015					2014
	Maturities	Outstanding		Weighted-Average Interest Rate(1)		Maturities	Outstanding		Weighted-Average Interest Rate(1)
	(Dollars in millions)
Senior fixed:
Benchmark notes and bonds	2016 - 2030	$	154,057	2.49	%	2015 - 2030	$	173,010	2.41	%
Medium-term notes(2)	2016 - 2025	96,997		1.53		2015 - 2024	114,556		1.42
Other(3)	2016 - 2038	27,772		4.88		2015 - 2038	32,941		4.65
Total senior fixed		278,826		2.39			320,507		2.29
Senior floating:
Medium-term notes(2)	2016 - 2019	20,791		0.27		2015 - 2019	24,469		0.15
Connecticut Avenue Securities(4)	2023 - 2028	10,764		3.84		2023 - 2024	6,041		2.97
Other(5)	2020 - 2037	368		10.46		2020 - 2037	363		8.71
Total senior floating		31,923		1.58			30,873		0.81
Subordinated debentures	2019	4,227		9.93		2019	3,849		9.93
Secured borrowings(6)	2021 - 2022	152		1.47		2021 - 2022	202		1.90
Total long-term debt of Fannie Mae(7)		315,128		2.41			355,431		2.24
Debt of consolidated trusts	2016 - 2054	2,810,593		2.94		2015 - 2054	2,760,152		3.02
Total long-term debt		$	3,125,721	2.88	%		$	3,115,583	2.93	%

__________

⁽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 other long-term debt and foreign exchange bonds.

⁽⁴⁾  Credit risk-sharing securities that transfer a portion of the credit risk on specified pools of mortgage loans to the investors in these securities. Connecticut Avenue Securities are reported at fair value.

⁽⁵⁾  Consists of structured debt instruments that are reported at fair value.

⁽⁶⁾  Represents our remaining liability resulting from the transfer 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⁾  Includes unamortized discounts and premiums, other cost basis adjustments and fair value adjustments of $3.2 billion and $4.1 billion as of December 31, 2015 and 2014, 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, 2015 by year of maturity for each of the years 2016 through 2020 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)
2016		$	52,829		$	143,970
2017		76,970			69,351
2018		60,555			32,832
2019		29,656			19,036
2020		30,129			16,658
Thereafter		64,989			33,281
Total debt of Fannie Mae(1)		315,128			315,128
Debt of consolidated trusts(2)		2,810,593			2,810,593
Total long-term debt		$	3,125,721		$	3,125,721

__________

⁽¹⁾  Includes unamortized discounts and premiums, other cost basis adjustments and fair value adjustments of $3.2 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.