Fannie Mae issues $463.38 billion of debt securities, buys back $1.33 billion in 2010

By Angela McDaniels

Tacoma, Wash., Jan. 28 - Fannie Mae issued $463.38 billion of debt securities during 2010, according to a summary for December and the year issued by the agency.

The year's issuance is more than 50% higher than 2009, when the agency issued $295.27 billion of debt securities.

August saw the highest amount of issuance during 2010, with $51.89 billion. The month with the least amount of issuance was January with $29.94 billion.

The agency's pace of repurchases continued to slow. It repurchased only $1.33 billion of debt securities in 2010. The principal amount of debt securities repurchased fell by almost half to $6.92 billion in 2009 from $13.21 billion in 2008.

Continuing a pattern seen in 2009, the bulk of the repurchases - $1.24 billion, or 93% - were made during the first half of 2010. In 2009, 69% of the repurchases were made during the first half of the year.

The agency said $405.44 billion of debt securities matured or were redeemed during 2010. In the previous year, the figure was $253.84 billion.

The total amount of Fannie Mae debt securities outstanding was $641.87 billion at the end of December, compared with $585.21 billion at the end of December 2009.

All of the debt securities referenced above have an original maturity of more than one year. When debt securities with an original maturity of one year or less are added, the total amount of Fannie Mae debt securities outstanding was $793.88 billion at the end of 2010, compared with $785.78 billion at the end of 2009.

December activity

The agency issued $34.91 billion of debt securities in December, down from $48.22 billion in November.

No repurchases were made in December. The amount of debt securities repurchased was $92 million in November.

Fannie Mae said $28.31 billion of debt securities matured or were redeemed during the month. In November, the figure was $27.02 billion.

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