EX-99.1 2 exhibit1.htm EX-99.1 EX-99.1

EXHIBIT 99.1

Fannie Mae Debt Outstanding1
2003 through September 30, 2006

                                 
Debt Outstanding (in millions)
   12/31/03     12/31/04       12/31/05       9/30/06  
 
                                
Discount Notes
   $ 137,528   $ 143,455     $ 92,924     $ 69,999  
Benchmark Bills
   191,315     157,501       75,000       78,500  
FX Discount Notes
   1,540     7,630       1,818       2,615  
Other Short Term 2
   15,622     11,737       2,799       1,629  
 
                                
Total Short Term 3
   $ 346,005   $ 320,323     $ 172,541     $ 152,743  
Short term debt average maturity (in days)
   100     61       66       82  
 
                                
Benchmark Notes & Bonds
   $ 282,602   $ 267,091     $ 266,295     $ 262,781  
Callable Benchmark Notes
   44,250     31,250       22,370       17,870  
Subordinated Benchmark Notes
   12,500     12,500       12,500       11,000  
Other Callable & Noncallable Notes & Bonds 4, 5
   81,601     323,863       292,538       322,207  
 
                                
Total Long Term 6, 7, 8
   $ 620,953   $ 634,704     $ 593,703     $ 613,859  
Long term debt average maturity (in months)
   54     47       48       53  
 
                                
Total Debt Outstanding 8
   $ 966,958   $ 955,027     $ 766,244     $ 766,601  
Total debt average maturity (in months)
   36     32       38       43  

Notes:

    1/ Reported amounts represent the unpaid principal balance at each reporting period or, in the case of the long-term zero coupon bonds, at maturity. Unpaid principal balance does not reflect the effect of currency adjustments, debt basis adjustments, and amortization of discounts, premiums, and issuance costs. Previously reported amounts have been revised to conform to the current period presentation.

    2/ Other Short Term includes coupon-bearing short-term notes, dollar rolls, overnight Fed funds, Benchmark repos, investment agreements, and LIP security lending.

    3/ Borrowings with an original contractual maturity of one year or less are reported as short term. As a result, securities which have a current maturity of one year or less, but have an original contractual maturity of greater than one year, will be categorized as long term for the purpose of this report.

    4/ Other Callable & Noncallable Notes & Bonds includes all long-term non-Benchmark Securities such as globals, zero-coupon securities, medium-term notes, Final Maturity Amortizing Notes, and other long-term debt securities.

    5/ Unamortized discounts and issuance costs of long-term zero coupon bonds are approximately $10.8 billion at December 31, 2003, $10.4 billion at December 31, 2004, $9.9 billion at December 31, 2005, and $10.7 billion at September 30, 2006.

    6/ Net Issuance Long Term amounts represent the difference between long-term debt issued and long-term debt redeemed.

    7/ Long-term debt represents borrowings with an original contractual maturity of greater than one year.

    8/ Dollars in millions. Numbers may not foot due to rounding.

Numbers presented in this report are subject to change as a result of the ongoing re-audit and restatement of Fannie Mae’s financial statements for 2003 and 2004 and the preparation and completion of Fannie Mae’s 2005 and 2006 financial statements and the required audits.