XML 26 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Short-Term Borrowings and Long-Term Debt
9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Short-Term Borrowings and Long-Term Debt
 Short-Term Borrowings and Long-Term Debt
Short-Term Borrowings
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
  
September 30, 2016
 
December 31, 2015
 
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)
$
35

 
 
 
%
 
 
$
62

 
 
 
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt of Fannie Mae
$
51,442

 
 
 
0.44
%
 
 
$
71,007

 
 
 
0.26
%
 
Debt of consolidated trusts
612

 
 
 
0.46

 
 
943

 
 
 
0.19

 
Total short-term debt
$
52,054

 
 
 
0.44
%
 
 
$
71,950

 
 
 
0.26
%
 
__________
(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.
Intraday Line of Credit
We use a secured intraday funding line of credit provided by a large financial institution. We post collateral which, in some circumstances, the secured party has the right to repledge to third parties. As this line of credit is an uncommitted intraday loan facility, we may be unable to draw on it if and when needed. The line of credit under this facility was $15.0 billion as of September 30, 2016 and December 31, 2015. We had no borrowings outstanding under this line of credit as of September 30, 2016.
Long-Term Debt
Long-term debt represents borrowings with an original contractual maturity of greater than one year. The following table displays our outstanding long-term debt.
 
As of
 
September 30, 2016
 
December 31, 2015
 
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
 
$
153,481

 
2.23
%
 
2016 - 2030
 
$
154,057

 
2.49
%
Medium-term notes(2)
2016 - 2026
 
83,661

 
1.39

 
2016 - 2025
 
96,997

 
1.53

Other(3)
2017 - 2038
 
13,557

 
6.58

 
2016 - 2038
 
27,772

 
4.88

Total senior fixed
 
 
250,699

 
2.19

 
 
 
278,826

 
2.39

Senior floating:
 
 
 
 
 
 
 
 
 
 
 
Medium-term notes(2)
2016 - 2019
 
28,715

 
0.59

 
2016 - 2019
 
20,791

 
0.27

Connecticut Avenue Securities(4)
2023 - 2029
 
15,636

 
4.59

 
2023 - 2028
 
10,764

 
3.84

Other(5)
2020 - 2037
 
419

 
6.65

 
2020 - 2037
 
368

 
10.46

Total senior floating
 
 
44,770

 
2.01

 
 
 
31,923

 
1.58

Subordinated debentures
2019
 
4,537

 
9.93

 
2019
 
4,227

 
9.93

Secured borrowings(6)
2021 - 2022
 
120

 
1.42

 
2021 - 2022
 
152

 
1.47

Total long-term debt of Fannie Mae(7)
 
 
300,126

 
2.28

 
 
 
315,128

 
2.41

Debt of consolidated trusts
2016 - 2054
 
2,880,933

 
2.53

 
2016 - 2054
 
2,810,593

 
2.94

Total long-term debt
 
 
$
3,181,059

 
2.51
%
 
 
 
$
3,125,721

 
2.88
%
__________
(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, a portion of which is 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 condensed 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 $2.0 billion and $3.2 billion as of September 30, 2016 and December 31, 2015, respectively.