Freddie Mac 2005 Annual Report Download - page 103

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Table 50 provides further detail regarding both issued and outstanding Guaranteed PCs and Structured Securities.
Table 50 Ì Single-Class and Multi-Class PCs and Other Structured Securities Based on Unpaid Principal Balances(1)
PCs and Structured
PCs and Structured Securities Outstanding Total Guaranteed
Securities in (held by PCs and Structured
December 31, 2005 Retained Portfolio third parties) Securities Issued
(in millions)
PCs and Structured Securities:
Single-class(2) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $202,970 $529,901 $ 732,871
Multi-class(3)(4)(5) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 158,354 437,668 596,022
Other(6) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Ì 6,631 6,631
Total PCs and Structured Securities(7) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $361,324 $974,200 $1,335,524
December 31, 2004
PCs and Structured Securities:(8)
Single-class(2) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $219,154 $454,973 $ 674,127
Multi-class(3)(5)ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 137,544 390,516 528,060
Other(6) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Ì 6,781 6,781
Total PCs and Structured Securities(7) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $356,698 $852,270 $1,208,968
(1) Excludes Freddie Mac mortgage-related securities traded, but not yet settled.
(2) Includes PCs not backing Structured Securities and single-class Structured Securities backed by PCs and Ginnie Mae CertiÑcates.
(3) Includes that portion of multi-class Structured Securities that are backed by PCs and non-agency mortgage-related securities. Also includes
multi-class Structured Securities backed by Ginnie Mae CertiÑcates.
(4) Excludes $82 million of Structured Securities issued by non-consolidated, special-purpose entities established by us that are not guaranteed
by us.
(5) Principal-only strips backed by Freddie Mac mortgage-related Securities held in the Retained portfolio are classiÑed as multi-class for the
purpose of this table.
(6) See ""NOTE 4: FINANCIAL GUARANTEES,'' for a discussion of our guarantees of principal and interest related to these securities.
(7) PCs and Structured Securities Issued exclude $961,777 million and $723,429 million at December 31, 2005 and 2004, respectively, of
Structured Securities backed by resecuritized PCs and other previously issued Structured Securities. These excluded Structured Securities,
which do not increase our credit related exposure, consist of single-class Structured Securities backed by PCs, REMICs, and principal-only
strips. The notional balances of interest-only strips (including excess interest-only strips) totaled $132,883 million and $105,703 million at
December 31, 2005 and 2004, respectively, and are excluded because this table is based on unpaid principal balances. Also excluded are
modiÑable and combinable REMIC tranches and interest and principal classes, which collectively totaled $1,495,501 million and
$1,097,336 million at December 31, 2005 and 2004, respectively, where the holder has the option to exchange the security tranches for
other pre-deÑned security tranches.
(8) Subsequent to our Information Statement dated June 14, 2005, we reclassiÑed PCs and Structured Securities in the Retained portfolio from
Single-class to Multi-class and Total Guaranteed PCs and Structured Securities Issued from Single-class and Other to Multi-class to
conform to the current period classiÑcations.
87 Freddie Mac