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104 FANNIE MAE 2002 ANNUAL REPORT
5. Debentures, Notes, and Bonds, Net
Borrowings Due Within One Year
Below is a summary of borrowings due within one year at December 31, 2002 and 2001, net of unamortized discount and
premium.
2002
Maximum
Average Outstanding Outstanding
Outstanding at December 31, During Year at Any
Dollars in millions Amount Cost1Amount Cost1Month-end
Short-term notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $290,091 1.55% $252,857 1.98% $290,091
Other short-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,522 1.33 18,512 1.70 28,126
Current portion of borrowings due after one year2:
Universal Standard Debt . . . . . . . . . . . . . . . . . . . . 41,681 2.25
Universal Benchmark Debt . . . . . . . . . . . . . . . . . . . 37,376 4.89
Universal Retail Debt . . . . . . . . . . . . . . . . . . . . . . . . . 73 9.52
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 669 3.24
Total due within one year . . . . . . . . . . . . . . . . . . $382,412 1.95%
2001
Maximum
Average Outstanding Outstanding
Outstanding at December 31, During Year at Any
Amount Cost1Amount Cost1Month-end
Short-term notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 256,905 2.58% $ 247,060 4.31% $ 265,953
Other short-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,891 1.96 31,479 4.40 43,811
Current portion of borrowings due after one year2:
Universal Standard Debt . . . . . . . . . . . . . . . . . . . . 34,413 3.67
Universal Benchmark Debt . . . . . . . . . . . . . . . . . . . 21,987 5.31
Universal Retail Debt . . . . . . . . . . . . . . . . . . . . . . . . . — —
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 296 4.96
Total due within one year . . . . . . . . . . . . . . . . . . $ 343,492 2.81%
1Represents weighted-average cost, which includes the amortization of discounts, premiums, issuance costs, hedging results, and the effects of currency and debt swaps. Averages have been calculated on a monthly average
basis.
2Information on average amount and cost of debt outstanding during the year and maximum amount outstanding at any month-end is not meaningful. See “Borrowings Due After One Year” for additional information.
Amounts payable for federal funds purchased and securities
sold under agreements to repurchase were $9.1 billion and
$6.0 billion at December 31, 2002 and 2001, respectively,
and are included in the above table under the heading “Other
short-term debt.” These amounts include both secured and
unsecured debt.
Borrowings Due After One Year
Below is a summary of borrowings due after one year at
December 31, 2002 and 2001, net of unamortized discount
and premium.