Fannie Mae 2008 Annual Report Download - page 131

Table 21: Amortized Cost, Fair Value, Maturity and Average Yield of Investments in Available-for-Sale Securities
Total
Amortized
Cost
(1)
Total
Fair
Value
Amortized
Cost
(1)
Fair
Value
Amortized
Cost
(1)
Fair
Value
Amortized
Cost
(1)
Fair
Value
Amortized
Cost
(1)
Fair
Value
One Year or Less Through Five Years Through Ten Years After Ten Years
After One Year After Five Years
As of December 31, 2008
(Dollars in millions)
Fannie Mae single-
class MBS
(2)
............ $112,943 $116,107 $ 3 $ 3 $ 705 $ 723 $19,783 $20,356 $ 92,452 $ 95,025
Fannie Mae structured MBS
(2)
. . 59,002 60,137 — — 4 4 6,456 6,578 52,542 53,555
Non-Fannie Mae structured
mortgage-related
securities
(2)
............. 63,008 49,406 202 134 395 332 16,591 12,243 45,820 36,697
Non-Fannie Mae single-class
mortgage securities
(2)
...... 25,798 26,436 — — 121 123 945 976 24,732 25,337
Mortgage revenue bonds . . .... 14,636 12,488 20 20 314 312 825 809 13,477 11,347
Other mortgage-related
securities .............. 2,319 1,914 — — — — — 26 2,319 1,888
Total . . . .............. $277,706 $266,488 $ 225 $157 $1,539 $1,494 $44,600 $40,988 $231,342 $223,849
Yield
(3)
............... 4.76% 3.38% 4.72% 3.47% 5.01%
(1)
Amortized cost includes unamortized premiums, discounts and other cost basis adjustments, as well as other-than-
temporary impairment write downs.
(2)
Maturities are based on contractual maturities assuming no prepayments. The contractual maturity of mortgage-backed
securities generally is not a reliable indicator of the expected life because borrowers typically have the right to repay
these obligations at any time.
(3)
Yields are determined by dividing interest income (including the amortization and accretion of premiums, discounts
and other cost basis adjustments) by amortized cost balances as of year-end.
Table 22 shows the composition of our trading and available-for-sale securities at amortized cost and fair
value as of December 31, 2008, which totaled $375.7 billion and $357.3 billion, respectively. We also disclose
the gross unrealized gains and gross unrealized losses related to our available-for-sale securities as of
December 31, 2008, and a stratification of these losses based on securities that have been in a continuous
unrealized loss position for less than 12 months and for 12 months or longer.
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