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OCTOBER 2006 NEWS RELEASE

Brian D. Jackson, Chief Financial Officer, Federal Financing Bank (FFB) announced the following activity for the month of September 2006.

FFB holdings of obligations issued, sold or guaranteed by other Federal agencies totaled $31.8 billion on September 30, 2006, posting an increase of $2,034.3 million from the level on August 31, 2006. This net change was the result of increases in net holdings of agency debt of $2,097.9 million and in net holdings of government-guaranteed loans of $123.7 million, and a decrease in holdings of agency assets of $187.3 million. The FFB made 45 disbursements and received 2 prepayments during the month of September.
 
During the fiscal year 2006, the FFB holdings of obligations issued, sold or guaranteed by other Federal agencies posted a net increase of $4,082.8 million from the level on September 30, 2005.  This net change was the result of a decrease in holdings of agency assets of $353.6 million, and increases in holdings of agency debt (U.S. Postal Service) of $2,100.0 million and in net holdings of government-guaranteed loans of $2,336.4 million.  Most notable of these was the addition of $1.55 billion to the National Rural Utilities Cooperative Finance Corporation, a nationwide provider of financing to utility cooperatives.

Attached to this release are tables presenting FFB September loan activity and FFB holdings as of September 30, 2006.

 

FEDERAL FINANCING BANK
SEPTEMBER 2006 ACTIVITY


Amount Final Interest
Borrower Date of Advance Maturity Rate
AGENCY DEBT
U.S. POSTAL SERVICE
U.S. Postal Service 9/29 $1,900,000,000.00 10/02/06 4.714% S/A
U.S. Postal Service 9/29 $200,000,000.00 10/02/06 4.701% S/A
GOVERNMENT-GUARANTEED LOANS
GENERAL SERVICES ADMINISTRATION
San Francisco Bldg Lease 9/01 $1,463,665.30 8/01/35 5.024% S/A
San Francisco Bldg Lease 9/07 $258,545.45 8/01/35 5.093% S/A
Foley Services Contract 9/14 $23,478.80 7/31/25 5.012% S/A
San Francisco OB 9/14 $162,384.75 2/01/35 5.044% S/A
Foley Services Contract 9/18 $169,719.52 7/31/25 5.045% S/A
San Francisco Bldg Lease 9/18 $5,410.00 8/01/35 5.070% S/A
San Francisco Bldg Lease 9/18 $6,600.00 8/01/35 5.070% S/A
San Francisco Bldg Lease 9/25 $1,614,591.85 8/01/35 4.887% S/A
Foley Services Contract 9/29 $359,378.67 7/31/25 4.870% S/A
DEPARTMENT OF EDUCATION
South Carolina State Univ. 9/25 $4,269,232.00 3/01/35 5.013% S/A
Harris Stowe State Univ. 9/28 $457,790.87 4/01/35 4.742% S/A
RURAL UTILITIES SERVICE
Scott County Telephone #2175 9/01 $319,000.00 12/31/20 4.763% Qtr.
Cumberland Valley #2118 9/05 $2,000,000.00 1/02/07 5.047% Qtr.
Brazos Electric #2086 9/06 $5,000,000.00 1/02/07 5.034% Qtr.
Brazos Electric #2086 9/06 $1,885,000.00 1/02/07 5.034% Qtr.
Brazos Electric #2182 9/06 $3,334,000.00 1/02/07 5.034% Qtr.
Owen Electric #2097 9/06 $985,000.00 12/31/37 4.917% Qtr.
Covington Electric Coop. #2123 9/08 $615,000.00 1/03/33 4.927% Qtr.
S. Indiana Rural Elec. #2059 9/11 $800,000.00 12/31/37 4.905% Qtr.
Red River Rural Tel. #2113 9/13 $597,000.00 1/03/23 4.833% Qtr.
Medina Electric #2250 9/14 $4,000,000.00 9/30/16 4.741% Qtr.
Blue Grass Energy #2227 9/15 $3,087,000.00 1/03/40 4.904% Qtr.
GOLDEN VALLEY ASSOC. #2178 9/15 $7,232,000.00 1/03/39 4.905% Qtr.
GOLDEN VALLEY ASSOC. #2229 9/15 $15,792,000.00 1/02/35 4.912% Qtr.
Johnson County Elec. #2085 9/18 $2,000,000.00 12/31/37 4.911% Qtr.
Cookson Hills Elec. #2125 9/22 $2,278,000.00 12/31/37 4.773% Qtr.
Hoosier Energy Elec. #2237 9/22 $10,471,000.00 1/03/40 4.971% Qtr.
Cornbelt Power #2054 9/25 $2,540,000.00 1/03/33 4.718% Qtr.
Cornbelt Power #2241 9/25 $5,012,000.00 1/03/40 4.718% Qtr.
National Power #788 9/25 $362,000.00 12/31/30 4.713% Qtr.
South Texas Electric #845 9/25 $2,298,000.00 12/31/24 4.690% Qtr.
W. Farmers Elec. Coop. #2116 9/26 $3,978,000.00 12/31/20 4.582% Qtr.
W. Farmers Elec. Coop. #2114 9/26 $1,231,000.00 1/03/33 4.691% Qtr.
Central Iowa Power Coop #2240 9/28 $3,400,000.00 12/31/35 4.712% Qtr.
GOLDEN VALLEY ASSOC. #2158 9/28 $15,972,000.00 1/03/39 4.722% Qtr.
Orange County Elec. #2179 9/28 $1,280,000.00 12/31/13 4.540% Qtr.
Central Virginia Elec. #2126 9/29 $1,500,000.00 1/03/39 4.749% Qtr.
Dairyland Power #2262 9/29 $19,031,000.00 12/31/40 4.747% Qtr.
Glades Elec. Coop. #2134 9/29 $3,159,000.00 1/03/39 4.749% Qtr.
N. Carolina Elec. #2260 9/29 $816,000.00 12/31/26 4.729% Qtr.
N. Carolina Elec. #2260 9/29 $955,000.00 12/31/26 4.729% Qtr.
N. Carolina Elec. #2261 9/29 $6,063,000.00 1/03/12 4.576% Qtr.
N. Carolina Elec. #2259 9/29 $1,472,000.00 12/31/26 4.730% Qtr.

S/A is a Semiannual rate
Qtr. is a Quarterly rate


 

FEDERAL FINANCING BANK HOLDINGS
(in millions of dollars)

Monthly Fiscal Year
Net Change Net Change
Program September 30, 2006 August 31, 2006 9/01/06- 9/30/06 10/01/05- 9/30/06
Agency Debt
U.S. Postal Service $2,100.0 $0.0 $2,100.0 $2,100.0
National Credit Union Adm.-CLF        $0.0        $2.1       -$2.1        $0.0
Subtotal* $2,100.0 $2.1 $2,097.9 $2,100.0
Agency Assets
Rural Utilities Service-CBO    $3,916.6    $4,103.8     -$187.3     -$353.6
Subtotal* $3,916.6 $4,103.8 -$187.3 -$353.6
Government-Guaranteed Lending
DOD-Foreign Military Sales $1,023.9 $1,034.8 -$10.9 -$220.5
DoEd-HBCU+ $154.4 $150.2 $4.3 $28.9
DHUD-Community Dev. Block Grant $0.0 $0.0 $0.0 -$0.2
DHUD-Public Housing Notes $884.0 $884.0 $0.0 -$88.0
General Services Administration+ $2,147.4 $2,146.0 $1.4 $3.7
DOI-Virgin Islands $3.2 $3.2 $0.0 -$2.3
DON-Ship Lease Financing $170.6 $170.6 $0.0 -$205.1
Rural Utilities Service $19,366.8 $19,237.4 $129.5 $1,280.9
Rural Utilities Service-GETP $2,000.0 $2,000.0 $0.0 $1,550.0
SBA-State/Local Development Cos. $26.5 $27.0 -$0.5 -$13.2
DOT-Section 511 $2.5 $2.5 -$0.1 -$0.2
VA Homeless Veterans Housing        $2.4        $2.4        $0.0        $2.4
Subtotal* $25,781.8 $25,658.1 $123.7 $2,336.4
========= ========= ========= =========
Grand total* $31,798.4 $29,764.1 $2,034.3 $4,082.8
_______________________________________
* figures may not total due to rounding
+ does not include capitalized interest