Fannie Mae 2013 Annual Report Download - page 113

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Our outstanding short-term debt, based on its original contractual maturity, as a percentage of our total outstanding debt was
14% as of December 31, 2013 and 17% as of December 31, 2012. For information on our outstanding debt maturing within
one year, including the current portion of our long-term debt, as a percentage of our total debt, see “Maturity Profile of
Outstanding Debt of Fannie Mae.” In addition, the weighted-average interest rate on our long-term debt, based on its original
contractual maturity, decreased to 2.14% as of December 31, 2013 from 2.25% as of December 31, 2012.
Pursuant to the terms of the senior preferred stock purchase agreement, we are prohibited from issuing debt without the prior
consent of Treasury if it would result in our aggregate indebtedness exceeding our outstanding debt limit, which is 120% of
the amount of mortgage assets we were allowed to own on December 31 of the immediately preceding calendar year. Our
debt limit under the senior preferred stock purchase agreement was reduced to $780.0 billion in 2013. As of December 31,
2013, our aggregate indebtedness totaled $534.2 billion, which was $245.8 billion below our debt limit. The calculation of
our indebtedness for purposes of complying with our debt limit reflects the unpaid principal balance and excludes debt basis
adjustments and debt of consolidated trusts. Because of our debt limit, we may be restricted in the amount of debt we issue to
fund our operations.
Table 30 displays information as of the dates indicated on our outstanding short-term and long-term debt based on its original
contractual terms.
Table 30: Outstanding Short-Term Borrowings and Long-Term Debt(1)
As of December 31,
2013 2012
Maturities Outstanding
Weighted-
Average
Interest
Rate Maturities Outstanding
Weighted-
Average
Interest
Rate
(Dollars in millions)
Short-term debt:
Fixed-rate:
Discount notes . . . . . . . . . . . . . . . . . . — $ 71,933 0.12% — $ 104,730 0.15%
Foreign exchange discount notes . . . . — 362 1.07 — 503 1.61
Total short-term debt of Fannie Mae (2) . . . . 72,295 0.13 105,233 0.16
Debt of consolidated trusts. . . . . . . . . . . — 2,154 0.09 — 3,483 0.15
Total short-term debt . . . . . . . . . . . . . . . . . . $ 74,449 0.13% $ 108,716 0.16%
Long-term debt:
Senior fixed:
Benchmark notes and bonds. . . . . . . 2014 - 2030 $ 212,234 2.45% 2013 - 2030 $ 251,768 2.59%
Medium-term notes(3) . . . . . . . . . . . . 2014 - 2023 161,445 1.28 2013 - 2022 172,288 1.35
Foreign exchange notes and bonds. . 2021 - 2028 682 5.41 2021 - 2028 694 5.44
Other(4)(5) . . . . . . . . . . . . . . . . . . . . . . 2014 - 2038 38,444 4.99 2013 - 2038 40,819 4.99
Total senior fixed . . . . . . . . . . . . 412,805 2.24 465,569 2.35
Senior floating:
Medium-term notes(3) . . . . . . . . . . . . 2014 - 2019 38,441 0.20 2013 - 2019 38,633 0.27
Other(4)(5) . . . . . . . . . . . . . . . . . . . . . . 2020 - 2037 955 5.18 2020 - 2037 365 8.22
Total senior floating . . . . . . . . . . 39,396 0.32 38,998 0.33
Subordinated fixed:
Qualifying subordinated . . . . . . . . . 2014 1,169 5.27 2013 - 2014 2,522 5.00
Subordinated debentures(6). . . . . . . . 2019 3,507 9.92 2019 3,197 9.92
Total subordinated fixed. . . . . . . 4,676 8.76 5,719 7.75
Secured borrowings(7) . . . . . . . . . . . . . . 2021 - 2022 262 1.86 2021 - 2022 345 1.87
Total long-term debt of Fannie Mae(8) . . . . . 457,139 2.14 510,631 2.25
Debt of consolidated trusts(5). . . . . . . . . 2014 - 2053 2,702,935 3.26 2013 - 2052 2,570,170 3.36
Total long-term debt . . . . . . . . . . . . . . . . . . . $ 3,160,074 3.10% $ 3,080,801 3.18%
Outstanding callable debt of Fannie Mae(9) .$ 168,397 1.59% $ 177,784 1.64%