Freddie Mac 2008 Annual Report Download - page 2

TABLE OF CONTENTS
PART I
Item 1. Business ....................................................................... 1
Item 1A. Risk Factors .................................................................... 36
Item 1B. Unresolved Staff Comments . . . ...................................................... 53
Item 2. Properties ...................................................................... 53
Item 3. Legal Proceedings ................................................................ 53
Item 4. Submission of Matters to a Vote of Security Holders ...................................... 53
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities..................................................................... 54
Item 6. Selected Financial Data ............................................................ 58
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ........... 59
Executive Summary . . . ...................................................... 59
Consolidated Results of Operations .............................................. 70
Consolidated Balance Sheets Analysis ............................................ 92
Consolidated Fair Value Balance Sheets Analysis ................................... 115
Liquidity and Capital Resources ................................................ 118
Portfolio Balances and Activities................................................ 125
Off-Balance Sheet Arrangements................................................ 130
Contractual Obligations ...................................................... 131
Critical Accounting Policies and Estimates ........................................ 133
Credit Risks ............................................................... 140
Operational Risks ........................................................... 171
Risk Management and Disclosure Commitments .................................... 172
Item 7A. Quantitative and Qualitative Disclosures About Market Risk ................................. 174
Item 8. Financial Statements and Supplementary Data ........................................... 180
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ........... 272
Item 9A(T). Controls and Procedures ........................................................... 272
Item 9B. Other Information ................................................................ 275
PART III
Item 10. Directors, Executive Officers and Corporate Governance.................................... 276
Item 11. Executive Compensation ........................................................... 276
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters . . 276
Item 13. Certain Relationships and Related Transactions, and Director Independence ..................... 276
Item 14. Principal Accountant Fees and Services ................................................ 276
PART IV
Item 15. Exhibits and Financial Statement Schedules ............................................. 277
SIGNATURES ............................................................................. 278
EXHIBIT INDEX .......................................................................... E-1
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