Short-Term and Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Short-Term Debt

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
	September 30, 2023				December 31, 2022
	Outstanding		Weighted- Average Interest Rate(1)		Outstanding		Weighted- Average Interest Rate(1)
	(Dollars in millions)
Short-term debt of Fannie Mae	$	14,245	5.26	%	$	10,204	3.93	%

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

Long-Term Debt

The following table displays our outstanding long-term debt.

	As of
	September 30, 2023					December 31, 2022
	Maturities	Outstanding(1)		Weighted- Average Interest Rate(2)		Maturities	Outstanding(1)		Weighted- Average Interest Rate(2)
	(Dollars in millions)
Senior fixed:
Benchmark notes and bonds	2023 - 2030	$	57,341	2.78	%	2023 - 2030	$	72,261	2.35	%
Medium-term notes(3)	2023 - 2031	43,420		1.59		2023 - 2031	39,476		0.78
Other(4)	2023 - 2038	6,750		4.12		2023 - 2038	6,778		4.00
Total senior fixed		107,511		2.41			118,515		1.94
Senior floating:
Connecticut Avenue Securities(5)	2023 - 2031	3,656		10.81		2023 - 2031	5,207		8.80
Other(6)	2037	240		9.57		2037	242		10.00
Total senior floating		3,896		10.73			5,449		8.86
Total long-term debt of Fannie Mae(7)		111,407		2.68			123,964		2.23
Debt of consolidated trusts	2023 - 2062	4,106,110		2.65		2023 - 2062	4,087,720		2.47
Total long-term debt		$	4,217,517	2.65	%		$	4,211,684	2.47	%

(1)Outstanding debt balance consists of the unpaid principal balance, premiums and discounts, fair value adjustments, hedge-related basis adjustments, and other cost basis adjustments.

(2)Excludes the effects of fair value adjustments and hedge-related basis adjustments.

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

(4)Includes other long-term debt with an original contractual maturity of greater than 10 years and foreign exchange bonds.

(5)Consists of CAS debt issued prior to November 2018, a portion of which is reported at fair value.

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

(7)Includes unamortized discounts and premiums, fair value adjustments, hedge-related cost basis adjustments, and other cost basis adjustments in a net discount position of $5.0 billion and $5.1 billion as of September 30, 2023 and December 31, 2022, respectively.