Benchmark Repo Lending Facility

This section provides access to:

• an overview of the Benchmark Repo Lending Facility,
  
• results of the Benchmark Repo Lending Facility Auction, and
  
• the Benchmark Repo Lending Facility tool.

The Benchmark Repo Lending Facility Overview section provides access to an outline of Fannie Mae's Benchmark Repo Lending Facility. The Benchmark Repo Lending Facility's goal is to enhance liquidity and trading activity in our Benchmark Securities in the cash, overnight, and term repo markets.
Fannie Mae uses the Benchmark Repo Lending Facility Tool to lend out its Benchmark Securities.
Given the recent Federal Reserve action and anticipated future federal funds increases, effective February 1, 2005, Fannie Mae will be changing its Benchmark Repo Facility lending rate from GC-75 to GC-150bps. As for near term guidance, it is likely that Fannie Mae will be raising its lending rate along with the Fed to maintain its goal of being the lender of last resort in the financing market for the repo eligible Benchmark non-callable and callable securities.