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Fannie Mae is one of the largest issuers of short-term debt securities as well as one of the largest and most consistent issuers of longer-dated (beyond two weeks) short-term securities. The majority of Fannie Mae's short-term funding needs are met through the
Discount Notes and Benchmark Bills programs. These funding programs offer investors highly liquid, high credit quality instruments with maturities of 360 days and under.
The particular advantages of Fannie Mae's short-term notes include:
- incremental spread over U.S. Treasury bills of comparable maturity,
- large volume and broad distribution of a wide range of short-term notes,
- flexibility with respect to reverse inquiry,
- superior credit and strong secondary market liquidity, and
- greater price transparency in Benchmark Bills maturities.
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Last Revised: June 13, 2006
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