MARCH 2008 NEWS RELEASE Gary H. Burner, Chief Financial Officer, Federal Financing Bank (FFB) announced the following activity for the month of February 2008. FFB holdings of obligations issued, sold or guaranteed by other Federal agencies totaled $31.2 billion on February 29, 2008, posting a decrease of $342.2 million from the level on January 31, 2008. This net change was the result of a decrease in net holdings of agency debt (U.S. Postal Service) of $484.6 million and an increase in net holdings of government-guaranteed loans of $142.4 million. The FFB made 47 disbursements and received 9 prepayments during the month of February. Attached to this release are tables presenting FFB February loan activity and FFB holdings as of February 29, 2008. |
FEDERAL FINANCING BANK
FEBRUARY 2008 ACTIVITY
| Amount | Final | Interest | |||
|---|---|---|---|---|---|
| Borrower | Date | of Advance | Maturity | Rate | |
| AGENCY DEBT | |||||
| U.S. POSTAL SERVICE | |||||
| U.S. Postal Service | 2/01 | $370,300,000.00 | 2/04/08 | 1.855% | S/A |
| U.S. Postal Service | 2/04 | $94,200,000.00 | 2/05/08 | 2.263% | S/A |
| U.S. Postal Service | 2/08 | $300,000,000.00 | 2/11/08 | 2.243% | S/A |
| U.S. Postal Service | 2/08 | $110,800,000.00 | 2/11/08 | 2.365% | S/A |
| U.S. Postal Service | 2/11 | $500,000,000.00 | 2/12/08 | 2.314% | S/A |
| U.S. Postal Service | 2/11 | $211,800,000.00 | 2/12/08 | 2.477% | S/A |
| U.S. Postal Service | 2/12 | $225,000,000.00 | 2/13/08 | 2.365% | S/A |
| U.S. Postal Service | 2/12 | $233,000,000.00 | 2/13/08 | 2.672% | S/A |
| U.S. Postal Service | 2/13 | $310,100,000.00 | 2/14/08 | 2.621% | S/A |
| U.S. Postal Service | 2/14 | $103,600,000.00 | 2/15/08 | 2.631% | S/A |
| U.S. Postal Service | 2/22 | $600,000,000.00 | 2/25/08 | 2.529% | S/A |
| U.S. Postal Service | 2/22 | $315,400,000.00 | 2/25/08 | 2.457% | S/A |
| U.S. Postal Service | 2/25 | $800,000,000.00 | 2/26/08 | 2.478% | S/A |
| U.S. Postal Service | 2/25 | $383,000,000.00 | 2/26/08 | 2.477% | S/A |
| U.S. Postal Service | 2/26 | $600,000,000.00 | 2/27/08 | 2.457% | S/A |
| U.S. Postal Service | 2/26 | $410,500,000.00 | 2/27/08 | 2.468% | S/A |
| U.S. Postal Service | 2/27 | $400,000,000.00 | 2/28/08 | 2.477% | S/A |
| U.S. Postal Service | 2/27 | $374,000,000.00 | 2/28/08 | 2.335% | S/A |
| U.S. Postal Service | 2/28 | $300,000,000.00 | 2/29/08 | 2.468% | S/A |
| U.S. Postal Service | 2/28 | $285,500,000.00 | 2/29/08 | 2.212% | S/A |
| U.S. Postal Service | 2/29 | $1,400,000,000.00 | 3/03/08 | 2.335% | S/A |
| U.S. Postal Service | 2/29 | $371,400,000.00 | 3/03/08 | 2.202% | S/A |
| GOVERNMENT-GUARANTEED LOANS | |||||
| GENERAL SERVICES ADMINISTRATION | |||||
| Foley Services Contract | 2/15 | $65,157.55 | 7/31/25 | 4.141% | S/A |
| DEPARTMENT OF EDUCATION | |||||
| Allen University | 2/04 | $29,473.68 | 11/01/17 | 3.570% | S/A |
| Tougaloo College | 2/13 | $280,207.49 | 6/02/08 | 2.249% | S/A |
| RURAL UTILITIES SERVICE | |||||
| Central Power Elec. #2335 | 2/01 | $2,173,000.00 | 1/03/40 | 4.206% | Qtr. |
| Whitewater Valley Rural #2336 | 2/01 | $208,000.00 | 12/31/19 | 3.810% | Qtr. |
| East Kentucky Power #2322 | 2/05 | $20,000,000.00 | 12/31/40 | 4.230% | Qtr. |
| Brantley Telephone Co. #2301 | 2/06 | $666,000.00 | 12/31/24 | 3.696% | Qtr. |
| N. Carolina Elec. #2260 | 2/08 | $5,536,000.00 | 12/31/26 | 3.981% | Qtr. |
| East Kentucky Power #2322 | 2/12 | $20,000,000.00 | 12/31/40 | 4.243% | Qtr. |
| Brazos Electric #2086 | 2/19 | $5,687,000.00 | 6/30/08 | 2.113% | Qtr. |
| Brazos Electric #2182 | 2/19 | $5,561,000.00 | 6/30/08 | 2.113% | Qtr. |
| Brazos Electric #2307 | 2/19 | $5,000,000.00 | 6/30/08 | 2.113% | Qtr. |
| Brazos Electric #2307 | 2/19 | $5,000,000.00 | 6/30/08 | 2.113% | Qtr. |
| Brazos Electric #2307 | 2/19 | $5,000,000.00 | 6/30/08 | 2.113% | Qtr. |
| Brazos Electric #2307 | 2/19 | $5,000,000.00 | 6/30/08 | 2.113% | Qtr. |
| Brazos Electric #2307 | 2/19 | $5,000,000.00 | 6/30/08 | 2.113% | Qtr. |
| Brazos Electric #2307 | 2/19 | $3,139,000.00 | 6/30/08 | 2.113% | Qtr. |
| Georgia Trans. Corp. #2342 | 2/19 | $100,682,000.00 | 12/31/40 | 4.409% | Qtr. |
| Scott County Telephone #2175 | 2/19 | $231,000.00 | 12/31/20 | 3.482% | Qtr. |
| Bartlett Elec. #2265 | 2/22 | $96,000.00 | 12/31/40 | 4.349% | Qtr. |
| Blackduck Telephone Co. #2214 | 2/22 | $20,000.00 | 12/31/14 | 2.696% | Qtr. |
| Kennebec Telephone #2293 | 2/25 | $306,902.00 | 12/31/25 | 3.863% | Qtr. |
| Wilkes Tele. & Elec. #851 | 2/27 | $637,000.00 | 12/31/18 | 3.361% | Qtr. |
| Cornbelt Power #2284 | 2/28 | $911,000.00 | 12/31/29 | 4.119% | Qtr. |
| Bartlett Elec. #2265 | 2/29 | $189,000.00 | 12/31/40 | 4.337% | 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 | February 29, 2008 | January 31, 2008 | 2/01/08- 2/29/08 | 10/01/07- 2/29/08 |
| Agency Debt | ||||
| U.S. Postal Service | $1,771.4 | $2,256.0 | -$484.6 | -$2,428.6 |
| 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* | $1,771.4 | $2,256.0 | -$484.6 | -$2,428.6 |
| Agency Assets | ||||
| Rural Utilities Service-CBO | $3,916.6 | $3,916.6 | $0.0 | $0.0 |
| Subtotal* | $3,916.6 | $3,916.6 | $0.0 | $0.0 |
| Government-Guaranteed Lending | ||||
| DOD-Foreign Military Sales | $770.0 | $803.7 | -$33.7 | -$66.5 |
| DoEd-HBCU+ | $313.3 | $313.0 | $0.3 | -$0.4 |
| DHUD-Public Housing Notes | $691.4 | $691.4 | $0.0 | -$99.2 |
| General Services Administration+ | $2,102.9 | $2,104.2 | -$1.3 | -$17.0 |
| DOI-Virgin Islands | $0.8 | $0.8 | $0.0 | $0.0 |
| DON-Ship Lease Financing | $69.6 | $69.6 | $0.0 | $0.0 |
| Rural Utilities Service | $19,072.3 | $18,894.5 | $177.8 | -$114.9 |
| Rural Utilities Service-GETP | $2,500.0 | $2,500.0 | $0.0 | $0.0 |
| SBA-State/Local Development Cos. | $13.5 | $14.3 | -$0.7 | -$3.5 |
| DOT-Section 511 | $2.2 | $2.2 | $0.0 | -$0.1 |
| VA Homeless Veterans Housing+ | $4.9 | $4.9 | $0.0 | $0.0 |
| Subtotal* | $25,541.0 | $25,398.6 | $142.4 | -$301.5 |
| ========= | ========= | ========= | ========= | |
| Grand total* | $31,229.0 | $31,571.2 | -$342.2 | -$2,730.1 |
| _______________________________________ | ||||
| * figures may not total due to rounding | ||||
| + does not include capitalized interest |