Freddie Mac 2012 Annual Report Download - page 264

The table below summarizes the balances and effective interest rates for other short-term debt.
Table 8.2 — Other Short-Term Debt
December 31, 2012 December 31, 2011
Par Value Balance, Net(1)
Weighted Average
Effective Rate(2) Par Value Balance, Net(1)
Weighted Average
Effective Rate(2)
(dollars in millions)
Other short-term debt:
Reference Bills®securities and discount
notes ............................... $117,930 $117,889 0.15% $161,193 $161,149 0.11%
Medium-term notes ...................... — — — 250 250 0.24
Total other short-term debt ............... $117,930 $117,889 0.15 $161,443 $161,399 0.11
(1) Represents par value, net of associated discounts or premiums.
(2) Represents the weighted average effective rate that remains constant over the life of the instrument, which includes the amortization of discounts or
premiums, and issuance costs.
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase
Securities sold under agreements to repurchase are effectively collateralized borrowing transactions where we sell
securities with an agreement to repurchase such securities. These agreements require the underlying securities to be delivered
to the dealers who are the counterparties to the transactions. Federal funds purchased are unsecuritized borrowings from
commercial banks that are members of the Federal Reserve System. At both December 31, 2012 and 2011, we had no
balances in federal funds purchased and securities sold under agreements to repurchase.
Other Long-Term Debt
The table below summarizes our other long-term debt.
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