Freddie Mac 2008 Annual Report Download - page 214

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NOTE 5: INVESTMENTS IN SECURITIES
Table 5.1 summarizes amortized cost, estimated fair values and corresponding gross unrealized gains and gross
unrealized losses for available-for-sale securities by major security type.
Table 5.1 — Available-For-Sale Securities
December 31, 2008
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses Fair Value
(in millions)
Mortgage-related investments portfolio:
Mortgage-related securities:
Freddie Mac ...................................................... $271,796 $6,333 $ (2,921) $275,208
Subprime . . ...................................................... 71,399 13 (19,145) 52,267
Commercial mortgage-backed securities . .................................. 64,214 2 (14,716) 49,500
Alt-A and other .................................................... 20,032 11 (6,787) 13,256
Moving Treasury Average, or MTA ...................................... 12,117 — (4,739) 7,378
Fannie Mae ...................................................... 40,255 674 (88) 40,841
Obligations of states and political subdivisions. . . ............................ 12,874 3 (2,349) 10,528
Manufactured housing ............................................... 917 9 (183) 743
Ginnie Mae ...................................................... 367 16 — 383
Total mortgage-related securities ...................................... 493,971 7,061 (50,928) 450,104
Cash and other investments portfolio:
Non-mortgage-related securities:
Asset-backed securities............................................... 8,788 6 — 8,794
Total non-mortgage-related securities . .................................. 8,788 6 — 8,794
Total available-for-sale securities . . ......................................... $502,759 $7,067 $(50,928) $458,898
December 31, 2007
Mortgage-related investments portfolio:
Mortgage-related securities:
Freddie Mac ...................................................... $346,569 $2,981 $ (2,583) $346,967
Subprime . . ...................................................... 101,278 12 (8,584) 92,706
Commercial mortgage-backed securities . .................................. 64,965 515 (681) 64,799
Alt-A and other .................................................... 30,187 15 (1,267) 28,935
MTA........................................................... 21,269 — (1,276) 19,993
Fannie Mae ...................................................... 45,688 513 (344) 45,857
Obligations of states and political subdivisions. . . ............................ 14,783 146 (351) 14,578
Manufactured housing ............................................... 1,149 131 (12) 1,268
Ginnie Mae ...................................................... 545 19 (2) 562
Total mortgage-related securities ...................................... 626,433 4,332 (15,100) 615,665
Cash and other investments portfolio:
Non-mortgage-related securities:
Asset-backed securities............................................... 16,644 25 (81) 16,588
Commercial paper . . . ............................................... 18,513 — — 18,513
Total non-mortgage-related securities . .................................. 35,157 25 (81) 35,101
Total available-for-sale securities . . ......................................... $661,590 $4,357 $(15,181) $650,766
211 Freddie Mac