AUGUST 2008 NEWS RELEASE Gary H. Burner, Chief Financial Officer, Federal Financing Bank (FFB) announced the following activity for the month of July 2008. FFB holdings of obligations issued, sold or guaranteed by other Federal agencies totaled $30.4 billion on July 31, 2008, posting a decrease of $576.1 million from the level on June 30, 2008. This net change was the result of a decrease in net holdings of agency debt (U.S. Postal Service) of $603.2 million and an increase in net holdings of government-guaranteed loans of $27.1 million. The FFB made 28 disbursements and received 2 prepayments during the month of July. The FFB also reset the interest rate for one loan guaranteed by the Department of Education during the month. |
FEDERAL FINANCING BANK
JULY 2008 ACTIVITY
| Amount | Final | Interest | |||
|---|---|---|---|---|---|
| Borrower | Date | of Advance | Maturity | Rate | |
| AGENCY DEBT | |||||
| U.S. POSTAL SERVICE | |||||
| U.S. Postal Service | 7/31 | $375,000,000.00 | 8/01/08 | 1.851% | S/A |
| U.S. Postal Service | 7/31 | $483,000,000.00 | 8/01/08 | 1.668% | S/A |
| GOVERNMENT-GUARANTEED LOANS | |||||
| GENERAL SERVICES ADMINISTRATION | |||||
| Foley Services Contract | 7/08 | $2,262.94 | 7/31/25 | 4.229% | S/A |
| San Francisco Bldg Lease | 7/24 | $246,661.85 | 8/01/35 | 4.729% | S/A |
| DEPARTMENT OF EDUCATION | |||||
| *Clark Atlanta University | 7/01 | $12,401,385.32 | 1/02/09 | 2.173% | S/A |
| Allen University | 7/18 | $471,747.02 | 11/02/20 | 4.291% | S/A |
| Clark Atlanta University | 7/18 | $1,904,516.86 | 2/02/37 | 4.549% | S/A |
| Dillard University | 7/25 | $3,857,206.74 | 12/01/08 | 1.743% | S/A |
| RURAL UTILITIES SERVICE | |||||
| Kennebec Telephone #2293 | 7/09 | $198,514.00 | 12/31/25 | 3.978% | Qtr. |
| Harrison County Rural #2184 | 7/10 | $1,000,000.00 | 1/03/39 | 4.312% | Qtr. |
| Brazos Electric #2086 | 7/11 | $5,381,000.00 | 12/31/08 | 1.982% | Qtr. |
| Brazos Electric #2307 | 7/11 | $5,000,000.00 | 12/31/08 | 1.982% | Qtr. |
| Brazos Electric #2307 | 7/11 | $5,000,000.00 | 12/31/08 | 1.982% | Qtr. |
| Brazos Electric #2307 | 7/11 | $4,679,000.00 | 12/31/08 | 1.982% | Qtr. |
| Cornbelt Power #2284 | 7/11 | $765,000.00 | 12/31/29 | 4.071% | Qtr. |
| TRANSCO #2323 | 7/11 | $880,000.00 | 12/31/35 | 4.282% | Qtr. |
| Cornbelt Power #2054 | 7/15 | $2,208,000.00 | 1/03/33 | 4.201% | Qtr. |
| Gulf Coast Elec. #2353 | 7/15 | $6,751,000.00 | 12/31/40 | 4.305% | Qtr. |
| Northwest Electric #2309 | 7/15 | $611,000.00 | 12/31/40 | 4.377% | Qtr. |
| Associated Electric #2288 | 7/16 | $40,700,000.00 | 12/31/25 | 4.028% | Qtr. |
| Brantley Telephone Co. #2301 | 7/16 | $750,000.00 | 12/31/24 | 3.963% | Qtr. |
| Wilkes Tele. & Elec. #851 | 7/21 | $750,000.00 | 12/31/18 | 3.674% | Qtr. |
| Arizona Electric #2127 | 7/22 | $1,047,000.00 | 1/03/34 | 4.490% | Qtr. |
| Arizona Electric #2128 | 7/22 | $767,000.00 | 12/31/24 | 4.184% | Qtr. |
| Concordia Electric #2221 | 7/22 | $535,000.00 | 1/02/35 | 4.504% | Qtr. |
| Central Iowa Power Coop #2311 | 7/23 | $11,278,000.00 | 1/03/40 | 4.502% | Qtr. |
| N. Carolina Elec. #2260 | 7/23 | $1,443,000.00 | 12/31/26 | 4.343% | Qtr. |
| Ponderosa Tele. #517 | 7/25 | $960,000.00 | 1/03/12 | 2.836% | Qtr. |
| Dairyland Power #2262 | 7/31 | $1,020,000.00 | 12/31/40 | 4.543% | Qtr. |
S/A is a Semiannual rate
Qtr. is a Quarterly rate
* maturity extension or interest rate reset or principal rollover
FEDERAL FINANCING BANK HOLDINGS
(in millions of dollars)
| Monthly | Fiscal Year | |||
|---|---|---|---|---|
| Net Change | Net Change | |||
| Program | July 31, 2008 | June 30, 2008 | 7/01/08- 7/31/08 | 10/01/07- 7/31/08 |
| Agency Debt | ||||
| U.S. Postal Service | $858.0 | $1,461.2 | -$603.2 | -$3,342.0 |
| National Credit Union Adm.-CLF | $0.0 | $0.0 | $0.0 | $0.0 |
| Federal Deposit Insurance Corp. | $0.0 | $0.0 | $0.0 | $0.0 |
| Subtotal* | $858.0 | $1,461.2 | -$603.2 | -$3,342.0 |
| Agency Assets | ||||
| Rural Utilities Service-CBO | $3,819.6 | $3,819.6 | $0.0 | -$97.0 |
| Subtotal* | $3,819.6 | $3,819.6 | $0.0 | -$97.0 |
| Government-Guaranteed Lending | ||||
| DOD-Foreign Military Sales | $731.7 | $731.7 | $0.0 | -$104.8 |
| DoEd-HBCU+ | $327.1 | $322.6 | $4.5 | $13.4 |
| DHUD-Public Housing Notes | $691.4 | $691.4 | $0.0 | -$99.2 |
| General Services Administration+ | $2,081.2 | $2,093.2 | -$12.0 | -$38.8 |
| DOI-Virgin Islands | $0.0 | $0.8 | -$0.8 | -$0.8 |
| DON-Ship Lease Financing | $16.6 | $69.6 | -$53.0 | -$53.0 |
| Rural Utilities Service | $19,379.9 | $19,291.1 | $88.8 | $192.7 |
| Rural Utilities Service-GETP | $2,500.0 | $2,500.0 | $0.0 | $0.0 |
| SBA-State/Local Development Cos. | $10.8 | $11.2 | -$0.4 | -$6.2 |
| DOT-Section 511 | $2.1 | $2.1 | $0.0 | -$0.2 |
| VA Homeless Veterans Housing+ | $4.9 | $4.9 | $0.0 | $0.0 |
| Subtotal* | $25,745.6 | $25,718.5 | $27.1 | -$96.9 |
| ========= | ========= | ========= | ========= | |
| Grand total* | $30,423.1 | $30,999.3 | -$576.1 | -$3,535.9 |
| _______________________________________ | ||||
| * figures may not total due to rounding | ||||
| + does not include capitalized interest |