Freddie Mac issues $348.68 billion, buys back $44.71 billion in 2009

By Angela McDaniels

Tacoma, Wash., Jan. 27 - Freddie Mac issued $348.68 billion of senior debt securities and subordinated debt securities during 2009, according to a summary for December and the year issued by the agency.

Issuance was concentrated in the first half of the year. The agency issued $244.72 billion of debt securities in the six months through June 2009, or 70% of the year's total. The month with the most issuance was March 2009, which saw $67.04 billion of debt securities issued.

The amount issued in 2009 is nearly 43% greater than 2008, when the agency issued $244.31 billion of debt securities.

The principal amount of debt securities repurchased increased by almost two-and-a-half times to $44.71 billion in 2009 from $17.95 billion in 2008.

Nearly all of the repurchases were made in the last seven months of 2009. Only $15 million of debt securities were repurchased in January 2009, followed by $21 million in February 2009 and none in the following three months.

The agency said $276.77 billion of debt securities matured or were redeemed during 2009. In the previous year, the figure was $268.04 billion.

The total amount of Freddie Mac debt securities outstanding was $566.78 billion at the end of December, compared with $580.54 billion at the end of December 2008.

All of the debt securities referenced above have an original maturity of one year or more. When debt securities with an original maturity of less than one year are added, the total amount of Freddie Mac debt securities outstanding was $805.07 billion at the end of 2009, compared with $870.28 billion at the end of 2008.

December activity

The agency issued $20.49 billion of debt securities in December, up from $19.77 billion in November.

The amount of debt securities repurchased increased sharply to $10.15 billion in December from $250 million in November.

Freddie Mac said $21.43 billion of debt securities matured or were redeemed during the month. In November, the figure was $19.71 billion.

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