Short-Term and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Short-Term Debt [Table Text Block]

The following table displays our outstanding short-term debt (debt with an original contractual maturity of one year or less) and weighted-average interest rates of this debt.

	As of December 31,
	2018				2017
	Outstanding		Weighted- Average Interest Rate (1)		Outstanding		Weighted- Average Interest Rate (1)
	(Dollars in millions)
Short-term debt of Fannie Mae	$	24,896	2.29	%	$	33,377	1.18	%
Debt of consolidated trusts	—		—		379		1.11
Total short-term debt	$	24,896	2.29	%	$	33,756	1.18	%

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

Long-Term Debt [Table Text Block]

The following table displays our outstanding long-term debt.

	As of December 31,
	2018					2017
	Maturities	Outstanding		Weighted- Average Interest Rate(1)		Maturities	Outstanding		Weighted- Average Interest Rate(1)
	(Dollars in millions)
Senior fixed:
Benchmark notes and bonds	2019 - 2030	$	103,206	2.36	%	2018 - 2030	$	123,541	2.11	%
Medium-term notes(2)	2019 - 2026	61,455		1.48		2018 - 2026	75,901		1.41
Other(3)	2019 - 2038	6,683		4.62		2018 - 2038	7,421		4.84
Total senior fixed		171,344		2.13			206,863		1.95
Senior floating:
Medium-term notes(2)	2019 - 2020	4,174		2.36		2018 - 2020	8,425		1.36
Connecticut Avenue Securities(4)	2023 - 2031	25,641		5.97		2023 - 2030	22,527		5.18
Other(5)	2020 - 2037	351		10.19		2020 - 2037	376		6.36
Total senior floating		30,166		5.52			31,328		4.14
Subordinated debentures	2019	5,617		9.64		2019	5,106		9.93
Secured borrowings(6)	2021 - 2022	51		1.96		2021 - 2022	78		1.70
Total long-term debt of Fannie Mae(7)		207,178		2.83			243,375		2.40
Debt of consolidated trusts	2019 - 2058	3,159,846		3.03		2018 - 2057	3,052,923		2.80
Total long-term debt		$	3,367,024	3.02	%		$	3,296,298	2.77	%

⁽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 with an original contractual maturity of greater than 10 years and foreign exchange bonds.

⁽⁴⁾  Credit risk-sharing securities that transfer a portion of the credit risk on specified pools of single-family mortgage loans to the investors in these securities, a portion of which is reported at fair value. Represents Connecticut Avenue Securities issued prior to the implementation of our CAS REMIC structure in November 2018. See Note 2, Consolidations and Transfers of Financial Assets for more information about our CAS REMIC structure.

⁽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 $413 million and $752 million as of December 31, 2018 and 2017, 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, 2018 by year of maturity for each of the years 2019 through 2023 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)
2019		$	61,622		$	91,202
2020		44,348			31,275
2021		29,903			18,987
2022		8,571			7,487
2023		5,267			4,522
Thereafter		57,467			53,705
Total long-term debt of Fannie Mae(1)		207,178			207,178
Debt of consolidated trusts(2)		3,159,846			3,159,846
Total long-term debt		$	3,367,024		$	3,367,024

⁽¹⁾  Includes unamortized discounts and premiums, other cost basis adjustments and fair value adjustments of $413 million.

⁽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.