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This excerpt taken from the FNM 10-Q filed May 8, 2009. Pledged
Non-Cash Collateral
Securities pledged to counterparties are classified as either
“Investments in securities” or “Cash and cash
equivalents” in our condensed consolidated balance sheets.
Securities pledged to counterparties that have been consolidated
under FIN 46R as loans are included as “Mortgage
loans” in our condensed consolidated balance sheets. As of
March 31, 2009, we pledged $1.4 billion
available-for-sale
(“AFS”) securities, which the counterparty had the
right to sell or repledge. As of December 31, 2008, we
pledged $720 million of AFS securities, which the
counterparty had the right to sell or repledge.
The fair value of non-cash collateral accepted that we were
permitted to sell or repledge was $3.2 billion and
$141 million as of March 31, 2009 and
December 31, 2008, respectively, of which none was sold or
repledged. The fair value of non-cash collateral accepted that
we were not permitted to sell or repledge was $17.3 billion
and $13.3 billion as of March 31, 2009 and
December 31, 2008, respectively. Additionally, non-cash
collateral was accepted related to our multifamily loss sharing
arrangements of $11.0 billion and $10.6 billion as of
March 31, 2009 and December 31, 2008 that we were not
permitted to sell or repledge.
Our liability to third-party holders of Fannie Mae MBS that
arises as the result of a consolidation of a securitization
trust is fully collateralized by underlying loans
and/or
mortgage-related securities.
When securities sold under agreements to repurchase meet all of
the conditions of a secured financing, the collateral of the
transferred securities is reported at fair value, excluding
accrued interest. The fair value of these securities classified
in “Investments in securities” in our condensed
consolidated balance sheets was $12 million as of
March 31, 2009. We did not have any repurchase agreements
of this type outstanding as of December 31, 2008.
Table of Contents
FANNIE
MAE
(In conservatorship) NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
This excerpt taken from the FNM 10-K filed Feb 26, 2009. Pledged
Non-Cash Collateral
Securities pledged to counterparties are classified as either
“Investments in securities” or “Cash and cash
equivalents” in our consolidated balance sheets. Securities
pledged to counterparties that have been consolidated under
FIN 46R as loans are included as “Mortgage loans”
in our consolidated balance sheets. As of December 31,
2008, we pledged $720 million of AFS securities, which the
counterparty had the right to sell or repledge. As of
December 31, 2007, we pledged $531 million of AFS
securities, $5 million of trading securities,
$2 million of HFI loans, which the counterparty had the
right to sell or repledge.
The fair value of non-cash collateral accepted that we were
permitted to sell or repledge was $141 million and
$238 million as of December 31, 2008 and 2007,
respectively, of which none was sold or repledged. The fair
value of non-cash collateral accepted that we were not permitted
to sell or repledge was $13.3 billion and $5.4 billion
as of December 31, 2008 and 2007, respectively.
Our liability to third-party holders of Fannie Mae MBS that
arises as the result of a consolidation of a securitization
trust is fully collateralized by underlying loans
and/or
mortgage-related securities.
When securities sold under agreements to repurchase meet all of
the conditions of a secured financing, the collateral of the
transferred securities are reported at fair value, excluding
accrued interest. The fair value of
Table of Contents
FANNIE
MAE
(In conservatorship) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
these securities classified in “Investments in
securities” in our consolidated balance sheets was
$5 million as of December 31, 2007. We did not have
any repurchase agreements of this type outstanding as of
December 31, 2008.
This excerpt taken from the FNM 10-Q filed Nov 10, 2008. Pledged
Non-Cash Collateral
As of September 30, 2008, we pledged a total of
$1.1 billion, comprised of $686 million of
available-for-sale (“AFS”) securities and
$439 million of trading securities, which the
counterparties had the right to sell or repledge. As of
December 31, 2007, we pledged a total of $538 million,
comprised of $531 million of AFS securities,
$5 million of trading securities, and $2 million of
loans held for investment, which the counterparties had the
right to sell or repledge.
This excerpt taken from the FNM 10-Q filed Aug 8, 2008. Pledged
Non-Cash Collateral
As of June 30, 2008, we pledged a total of
$736 million of available-for-sale (“AFS”)
securities, which the counterparties had the right to sell or
repledge. As of December 31, 2007, we pledged a total of
$538 million, comprised of $531 million of AFS
securities, $5 million of trading securities, and
$2 million of loans held for investment, which the
counterparties had the right to sell or repledge.
FANNIE
MAE
NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
This excerpt taken from the FNM 10-Q filed May 6, 2008. Pledged
Non-Cash Collateral
As of March 31, 2008, we pledged a total of
$921 million, comprised of $916 million of
available-for-sale (“AFS”) securities, $3 million
of trading securities, and $2 million of loans held for
investment, which the counterparties had the right to sell or
repledge. As of December 31, 2007, we pledged a total of
$538 million, comprised of $531 million of AFS
securities, $5 million of trading securities, and
$2 million of loans held for investment, which the
counterparties had the right to sell or repledge.
Table of Contents
FANNIE
MAE
NOTES TO CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS—(Continued)
(UNAUDITED)
This excerpt taken from the FNM 10-K filed Feb 27, 2008. Pledged
Non-Cash Collateral
Securities pledged to counterparties are classified as either
“Investments in securities” or “Cash and cash
equivalents” in the consolidated balance sheets. Securities
pledged to counterparties that have been consolidated under
FIN 46R as loans are included as “Mortgage loans”
in the consolidated balance sheets. As of December 31,
2007, we pledged $531 million of AFS securities,
$5 million of trading securities and $2 million of
loans held for investment, which the counterparty had the right
to sell or repledge. As of December 31, 2006, we pledged
$265 million of AFS securities, $34 million of trading
securities, $149 million of loans held for investment and
$215 million of cash equivalents, which the counterparty
had the right to sell or repledge.
The fair value of non-cash collateral accepted that we were
permitted to sell or repledge was $238 million and
$1.8 billion as of December 31, 2007 and 2006,
respectively, of which none was sold or repledged. The fair
value of collateral accepted that we were not permitted to sell
or repledge was $5.4 billion and $170 million as of
December 31, 2007 and 2006, respectively.
Our liability to third-party holders of Fannie Mae MBS that
arises as the result of a consolidation of a securitization
trust is fully collateralized by underlying loans
and/or
mortgage-related securities.
When securities sold under agreements to repurchase meet all of
the conditions of a secured financing, the collateral of the
transferred securities are reported at the amounts at which the
securities will be reacquired, including accrued interest.
This excerpt taken from the FNM 10-Q filed Nov 9, 2007. Pledged
Non-Cash Collateral
As of March 31, 2007, we pledged a total of
$1.8 billion, comprised of $1.2 billion of
available-for-sale (“AFS”) securities,
$51 million of trading securities, $397 million of
loans held for investment and $201 million of cash
equivalents, which the counterparties had the right to sell or
repledge. As of December 31, 2006, we pledged a total of
$663 million, comprised of $265 million of AFS
securities, $34 million of trading securities,
$149 million of loans held for investment and
$215 million of cash equivalents, which the counterparty
had the right to sell or repledge.
This excerpt taken from the FNM 10-Q filed Nov 9, 2007. Pledged
Non-Cash Collateral
As of June 30, 2007, we pledged a total of
$802 million, comprised of $13 million of
available-for-sale (“AFS”) securities,
$411 million of trading securities, and $378 million
of loans held for investment, which the counterparties had the
right to sell or repledge. As of December 31, 2006, we
pledged a total of $663 million, comprised of
$265 million of AFS securities, $34 million of trading
securities, $149 million of loans held for investment and
$215 million of cash equivalents, which the counterparty
had the right to sell or repledge.
This excerpt taken from the FNM 10-Q filed Nov 9, 2007. Pledged
Non-Cash Collateral
As of September 30, 2007, we pledged a total of
$2.3 billion, comprised of $13 million of
available-for-sale
(“AFS”) securities, $1.5 billion of trading
securities, and $793 million of loans held for investment,
which the counterparties had the right to sell or repledge. As
of December 31, 2006, we pledged a total of
$663 million, comprised of $265 million of AFS
securities, $34 million of trading securities,
$149 million of loans held for investment and
$215 million of cash equivalents, which the counterparty
had the right to sell or repledge.
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