Sallie Mae 2008 Annual Report Download - page 155
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5. Investments
A summary of investments and restricted investments as of December 31, 2008 and 2007 follows:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2008
Investments
Available-for-sale
U.S. Treasury and other U.S. government
agency obligations:
U.S. Treasury securities and other U.S.
government agency obligations .......... $ 8,908 $ 195 $ — $ 9,103
Other securities:
Asset-backed securities ................. 40,907 13 (4,299) 36,621
Commercial paper and asset-backed
commercial paper ................... 801,169 — — 801,169
Municipal bonds ...................... 10,883 1,924 — 12,807
Other .............................. 1,673 — (365) 1,308
Total investment securities available-for-sale ..... $863,540 $2,132 $(4,664) $861,008
Restricted Investments
Available-for sale
Guaranteed investment contracts ............ $ 31,914 $ — $ — $ 31,914
Total restricted investments available-for-sale . . . $ 31,914 $ — $ — $ 31,914
Held-to-maturity
Guaranteed investment contracts ............ $ 5,500 $ — $ — $ 5,500
Other ................................ 215 — — 215
Total restricted investments held-to-maturity . . . $ 5,715 $ — $ — $ 5,715
F-35
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, except per share amounts, unless otherwise stated)