%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.50 740.67 Td ( ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.90 717.25 Td (Exhibit 99.1) Tj ET Q BT /F3 12.50 Tf ET q 0 0 0 rg BT 153.05 702.25 Td (Freddie Mac Reports Net Income of ) Tj ET Q BT /F3 12.50 Tf ET q 0 0 0 rg BT 368.66 702.25 Td ($1.7) Tj ET Q BT /F3 12.50 Tf ET q 0 0 0 rg BT 392.99 702.25 Td ( Billion and) Tj ET Q BT /F3 12.50 Tf ET q 0 0 0 rg BT 126.35 687.25 Td (Comprehensive Income of ) Tj ET Q BT /F3 12.50 Tf ET q 0 0 0 rg BT 286.40 687.25 Td ($1.8) Tj ET Q BT /F3 12.50 Tf ET q 0 0 0 rg BT 310.73 687.25 Td ( Billion for Third Quarter 2019) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 59.70 673.25 Td (The Company Continues Its Solid Financial Performance As It Works Toward Exiting Conservatorship) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 552.21 673.25 Td ( ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 48 662.75 m 563 662.75 l s BT /F1 10.00 Tf ET BT /F5 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.5333333333333333 0.7450980392156863 0.27058823529411763 rg BT 49.50 643.05 Td (Third Quarter 2019 Financial Results ) Tj ET Q BT /F6 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 623.85 Td (?) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 67.50 623.85 Td (Comprehensive income of ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 207.94 623.85 Td ($1.8 billion) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 263.72 623.85 Td (,) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 266.78 623.85 Td ( ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 269.84 623.85 Td (substantially unchanged from the prior quarter, driven by ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 610.65 Td (strong and consistent business performance.) Tj ET Q BT /F6 11.00 Tf ET /GS0 gs q 4.00 0 0 11.00 67.50 589.08 cm /I1 Do Q q 0 0 0 rg BT 71.50 591.45 Td ( ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 85.50 591.45 Td (Market-related losses were $0.3 billion, driven by a ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 337.96 591.45 Td ($0.4 billion) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 391.15 591.45 Td ( loss from net interest rate ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 85.50 578.25 Td (impacts) Tj ET Q BT /F6 11.00 Tf ET BT /F6 6.60 Tf ET q 0 0 0 rg BT 124.63 582.10 Td (\(1\)) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 131.72 578.25 Td ( due to higher fair value losses resulting from declining long-term interest rates. These ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 85.50 565.05 Td (losses were partially offset by a $0.1 billion gain from market spread impacts, both after-tax.) Tj ET Q BT /F6 11.00 Tf ET /GS0 gs q 4.00 0 0 11.00 67.50 543.48 cm /I2 Do Q q 0 0 0 rg BT 71.50 545.85 Td ( ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 85.50 545.85 Td (Gains from sales of single-family reperforming loans were $0.4 billion, after-tax, substantially ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 85.50 532.65 Td (unchanged from the prior quarter. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 513.45 Td (?) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 67.50 513.45 Td (Return on Conservatorship Capital \(ROCC\)) Tj ET Q BT /F6 11.00 Tf ET BT /F6 6.60 Tf ET q 0 0 0 rg BT 291.53 517.30 Td (\(2\)) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 298.61 513.45 Td ( increased to ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 365.11 513.45 Td (14.4%) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 397.52 513.45 Td ( due to a small increase in ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 500.25 Td (earnings and lower conservatorship capital compared to the prior quarter. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 484.05 Td (?) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 67.50 484.05 Td (Total equity increased to ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 199.02 484.05 Td ($6.7 billion) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 254.80 484.05 Td ( at September 30, 2019 from $4.8 billion at June 30, 2019, ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 470.85 Td (driven by the company's increased ability to retain earnings, pursuant to the September 2019 Letter ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 457.65 Td (Agreement) Tj ET Q BT /F6 11.00 Tf ET BT /F6 6.60 Tf ET q 0 0 0 rg BT 121.09 461.50 Td (\(3\)) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 128.18 457.65 Td (.) Tj ET Q 0.7568627450980392 0.7568627450980392 0.7568627450980392 rg /GS0 gs 48.00 443.15 515.00 -54.00 re f /GS0 gs 0.7568627450980392 0.7568627450980392 0.7568627450980392 rg /GS0 gs 48.00 389.15 515.00 -13.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 48 447.15 m 563 447.15 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 48 372.15 m 563 372.15 l s BT /F6 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 50.50 432.80 Td (In the third quarter, Freddie Mac took an important first step toward exiting conservatorship by adding ) Tj ET Q BT /F6 11.00 Tf ET q 1 1 1 rg BT 50.50 421.80 Td (more than $1.8 billion to our total equity, bringing our capital reserve to $6.7 billion. As we look to the ) Tj ET Q BT /F6 11.00 Tf ET q 1 1 1 rg BT 50.50 410.80 Td (future, we are squarely focused on serving our mission and meeting the milestones necessary to move ) Tj ET Q BT /F6 11.00 Tf ET q 1 1 1 rg BT 50.50 399.80 Td (the company forward.? Tj ET Q BT /F7 10.00 Tf ET q 1 1 1 rg BT 50.50 379.51 Td (David M. Brickman ) Tj ET Q BT /F4 10.00 Tf ET q 1 1 1 rg BT 143.56 379.51 Td (Chief Executive Officer) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F5 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.5333333333333333 0.7450980392156863 0.27058823529411763 rg BT 49.50 356.45 Td (Reducing Risks. Maintaining Strong Business Fundamentals. Serving the Mission. ) Tj ET Q BT /F3 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 337.25 Td (Reducing Risk and Protecting Taxpayers) Tj ET Q BT /F6 11.00 Tf ET BT /F6 6.60 Tf ET q 0 0 0 rg BT 261.76 341.10 Td (\(2\)\(4\)) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 275.93 337.25 Td ( ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (?) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 67.5 319.95 m 228.78369140625 319.95 l s q 0 0 0 rg BT 67.50 321.05 Td (Conservatorship capital declined) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 228.78 321.05 Td ( by $5.2 billion from the prior year, due to credit risk transfer \(CRT\) ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 307.85 Td (activity, home price appreciation, legacy asset dispositions, and a decrease in deferred tax assets. ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 49.50 291.65 Td (?) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 67.5 290.54999999999995 m 336.15576171875 290.54999999999995 l s q 0 0 0 rg BT 67.50 291.65 Td (Conservatorship capital needed for credit risk declined) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 336.16 291.65 Td ( by 75% for Single-Family and 90% for ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 278.45 Td (Multifamily on new business activity in the twelve months ended September 30, 2018. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 262.25 Td (Producing Solid Results through Strong Business Fundamentals ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 49.50 246.05 Td (?) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 67.5 244.94999999999993 m 84.6162109375 244.94999999999993 l s q 0 0 0 rg BT 67.50 246.05 Td (6%) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 84.6162109375 244.94999999999993 m 301.66015625 244.94999999999993 l s q 0 0 0 rg BT 84.62 246.05 Td ( total guarantee book growth, year over year) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 301.66 246.05 Td ( ?Single-Family grew ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 415.00 246.05 Td (5%) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 432.12 246.05 Td ( and Multifamily grew ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 232.85 Td (15%) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 90.73 232.85 Td (. ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (?) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 67.5 215.54999999999995 m 208.70703125 215.54999999999995 l s q 0 0 0 rg BT 67.50 216.65 Td (Credit quality remains strong) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 208.71 216.65 Td ( ?Single-Family serious delinquency rate declined to ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 475.16 216.65 Td (0.61%) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 507.57 216.65 Td (, while ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 203.45 Td (Multifamily delinquency rate continued near zero at ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 320.57 203.45 Td (0.04%) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 352.98 203.45 Td (. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 184.25 Td (Supporting Homebuyers, Renters, and Lenders of All Sizes) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 49.50 168.05 Td (?) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 67.5 166.94999999999993 m 138.39599609375 166.94999999999993 l s q 0 0 0 rg BT 67.50 168.05 Td (Helped nearly ) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 138.39599609375 166.94999999999993 m 156.74462890625 166.94999999999993 l s q 0 0 0 rg BT 138.40 168.05 Td (810) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 156.74462890625 166.94999999999993 m 218.48828125 166.94999999999993 l s q 0 0 0 rg BT 156.74 168.05 Td (,000 families) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 218.49 168.05 Td ( to own or rent a home in the third quarter of 2019; provided ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 515.79 168.05 Td ($173 ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 154.85 Td (billion) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 96.22 154.85 Td ( in liquidity to the mortgage market.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 49.50 138.65 Td (?) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 67.5 137.54999999999995 m 105.25244140625 137.54999999999995 l s q 0 0 0 rg BT 67.50 138.65 Td (Served ) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 105.25244140625 137.54999999999995 m 123.60107421875 137.54999999999995 l s q 0 0 0 rg BT 105.25 138.65 Td (865) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 123.60107421875 137.54999999999995 m 393.44384765625 137.54999999999995 l s q 0 0 0 rg BT 123.60 138.65 Td ( regional and community-oriented single-family lenders) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 393.44 138.65 Td (, representing more than 90% of ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 125.45 Td (all single-family lenders in the third quarter of 2019.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 49.50 109.25 Td (?) Tj ET Q BT /F6 11.00 Tf ET 0 0 0 RG /GS0 gs 0.55 w 0 i [] 0 d 1 J 1 j 3 M 67.5 108.14999999999998 m 348.66259765625 108.14999999999998 l s q 0 0 0 rg BT 67.50 109.25 Td (Remained a vital source of funding for affordable housing) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 348.66 109.25 Td ( ?First-time homebuyers represented ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 96.05 Td (45%) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 90.73 96.05 Td ( of new single-family purchase loans in the third quarter of 2019, and ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 430.93 96.05 Td (95%) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 454.17 96.05 Td ( of the eligible ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 82.85 Td (multifamily rental units financed were affordable to families earning at or below 120% of area median ) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 67.50 69.65 Td (incomes. ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 54.75 56.14999999999998 m 569.75 56.14999999999998 l s BT /F1 10.00 Tf ET BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 63.00 44.55 Td (\(1\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 68.87 42.45 Td (Net of hedge accounting amortization.) Tj ET Q BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 171.02 44.55 Td ( ) Tj ET Q BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 63.00 37.35 Td (\(2\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 68.87 35.25 Td (See page 5 for additional information on the Return on Conservatorship Capital.) Tj ET Q BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 63.00 30.15 Td (\(3\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 68.87 28.05 Td (See page 10 for additional information related to the September 2019 Letter Agreement with the U.S. Treasury.) Tj ET Q BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 63.00 22.95 Td (\(4\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 68.87 20.85 Td (See pages 6-7 for information related to the reduction in conservatorship capital needed for credit risk.) Tj ET Q /GS0 gs q 328.00 0 0 45.00 228.50 730.67 cm /I3 Do Q /GS0 gs q 134.00 0 0 45.00 53.50 730.67 cm /I4 Do Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 2) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 726.40 Td (McLean, VA ?Freddie Mac \(OTCQB: FMCC\) today reported net income of) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 383.21 726.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 384.88 726.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 387.66 726.40 Td ($1.7 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 436.01 726.40 Td ( for the third quarter of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 714.40 Td (2019, compared to net income of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 200.93 714.40 Td ($1.5 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 249.28 714.40 Td ( for the second quarter of 2019. The company also reported ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 702.40 Td (comprehensive income of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 167.50 702.40 Td ($1.8 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 215.85 702.40 Td ( for both the second and third quarters of 2019.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 681.40 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 681.40 Td (Comprehensive income reflected the following:) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 661.24 cm /I5 Do Q q 0 0 0 rg BT 89.50 663.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 663.40 Td (Market-related losses of $0.3 billion, compared to a minimal impact in the prior quarter, driven by:) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 103.50 643.24 cm /I6 Do Q q 0 0 0 rg BT 107.50 645.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 121.50 645.40 Td ($0.4 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 169.85 645.40 Td ( loss, after-tax, from net interest rate impacts) Tj ET Q BT /F6 5.00 Tf ET q 0 0 0 rg BT 369.98 645.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 371.37 648.90 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 373.04 645.40 Td (due to higher fair value losses resulting ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 121.50 633.40 Td (from declining long-term interest rates; partially offset by) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 103.50 613.24 cm /I7 Do Q q 0 0 0 rg BT 107.50 615.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 121.50 615.40 Td ($0.1 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 169.85 615.40 Td ( gain, after-tax, from market spread impacts due to basis differences between swap ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 121.50 603.40 Td (and Treasury rates associated with the company's Treasury futures. ) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 583.24 cm /I8 Do Q q 0 0 0 rg BT 89.50 585.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 585.40 Td (Gains from sales of single-family reperforming loans of $0.4 billion, after-tax, which was substantially ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 573.40 Td (unchanged from the prior quarter.) Tj ET Q BT /F8 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.25882352941176473 0.25882352941176473 0.25882352941176473 rg BT 49.50 548.20 Td (Summary of Consolidated Statements of Comprehensive Income \(Loss\) ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 537.70 243.00 -16.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 297.00 537.70 50.00 -16.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 351.00 537.70 50.00 -16.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 405.00 537.70 50.00 -16.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 459.00 537.70 50.00 -16.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 513.00 537.70 50.00 -16.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 521.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 521.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 521.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 507.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 507.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 507.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 493.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 493.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 493.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 479.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 479.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 479.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 465.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 465.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 465.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 451.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 451.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 451.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 437.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 437.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 437.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 423.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 423.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 423.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 409.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 409.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 409.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 395.70 50.00 -15.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 395.70 50.00 -15.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 395.70 50.00 -15.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 380.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 380.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 380.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 366.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 366.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 366.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 352.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 352.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 352.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 338.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 338.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 338.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 324.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 324.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 324.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 310.70 50.00 -23.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 310.70 50.00 -23.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 310.70 50.00 -23.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 297.00 287.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 351.00 287.70 50.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 459.00 287.70 50.00 -14.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 479.70000000000005 m 293 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 479.70000000000005 m 347 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 479.70000000000005 m 351 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 479.70000000000005 m 401 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 479.70000000000005 m 405 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 479.70000000000005 m 455 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 479.70000000000005 m 459 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 479.70000000000005 m 509 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 479.70000000000005 m 513 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 479.70000000000005 m 563 479.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 395.70000000000005 m 293 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 395.70000000000005 m 347 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 395.70000000000005 m 351 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 395.70000000000005 m 401 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 395.70000000000005 m 405 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 395.70000000000005 m 455 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 395.70000000000005 m 459 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 395.70000000000005 m 509 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 395.70000000000005 m 513 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 395.70000000000005 m 563 395.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 352.70000000000005 m 293 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 352.70000000000005 m 347 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 352.70000000000005 m 351 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 352.70000000000005 m 401 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 352.70000000000005 m 405 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 352.70000000000005 m 455 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 352.70000000000005 m 459 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 352.70000000000005 m 509 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 352.70000000000005 m 513 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 352.70000000000005 m 563 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 352.70000000000005 m 347 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 352.70000000000005 m 401 352.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 324.70000000000005 m 293 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 324.70000000000005 m 347 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 324.70000000000005 m 351 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 324.70000000000005 m 401 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 324.70000000000005 m 405 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 324.70000000000005 m 455 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 324.70000000000005 m 459 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 324.70000000000005 m 509 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 324.70000000000005 m 513 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 324.70000000000005 m 563 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 324.70000000000005 m 347 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 324.70000000000005 m 401 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 324.70000000000005 m 509 324.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 287.70000000000005 m 347 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 287.70000000000005 m 401 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 287.70000000000005 m 293 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 274.70000000000005 m 293 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 272.70000000000005 m 293 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 287.70000000000005 m 347 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 274.70000000000005 m 347 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 272.70000000000005 m 347 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 287.70000000000005 m 351 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 274.70000000000005 m 351 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 272.70000000000005 m 351 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 287.70000000000005 m 401 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 274.70000000000005 m 401 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 272.70000000000005 m 401 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 287.70000000000005 m 405 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 274.70000000000005 m 405 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 272.70000000000005 m 405 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 287.70000000000005 m 455 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 274.70000000000005 m 455 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 272.70000000000005 m 455 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 287.70000000000005 m 459 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 274.70000000000005 m 459 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 272.70000000000005 m 459 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 287.70000000000005 m 509 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 274.70000000000005 m 509 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 272.70000000000005 m 509 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 287.70000000000005 m 513 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 274.70000000000005 m 513 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 272.70000000000005 m 513 272.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 287.70000000000005 m 563 287.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 274.70000000000005 m 563 274.70000000000005 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 272.70000000000005 m 563 272.70000000000005 l s BT /F6 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 52.50 526.49 Td (\(Dollars in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 302.30 527.06 Td (3Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 356.30 527.06 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 411.05 527.06 Td (Change) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 464.30 527.06 Td (3Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 519.05 527.06 Td (Change) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 512.06 Td (Net interest income) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 312.90 512.06 Td ($2,410) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 366.90 512.06 Td ($2,927) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 424.05 512.06 Td ($\(517\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 474.90 512.06 Td ($3,257) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 532.05 512.06 Td ($\(847\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 498.06 Td (Guarantee fee income) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 326.80 498.06 Td (231) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 380.80 498.06 Td (222) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 445.90 498.06 Td (9) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 488.80 498.06 Td (209) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 548.35 498.06 Td (22) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 484.06 Td (Other income \(loss\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 326.80 484.06 Td (146) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 380.80 484.06 Td (209) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 435.20 484.06 Td (\(63\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 494.35 484.06 Td (79) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 548.35 484.06 Td (67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 470.06 Td (Net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 318.45 470.06 Td (2,787) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.45 470.06 Td (3,358) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.85 470.06 Td (\(571\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.45 470.06 Td (3,545) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.85 470.06 Td (\(758\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 456.06 Td (Other non-interest income \(loss\):) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 442.06 Td (Mortgage loans gains \(losses\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 318.45 442.06 Td (1,702) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 372.45 442.06 Td (1,541) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 434.80 442.06 Td (161) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 494.35 442.06 Td (94) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 534.45 442.06 Td (1,608) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 428.06 Td (Investment securities gains \(losses\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 326.80 428.06 Td (164) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 380.80 428.06 Td (390) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 429.60 428.06 Td (\(226\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 486.20 428.06 Td (\(443) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 505.50 428.06 Td (\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 542.80 428.06 Td (607) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 414.06 Td (Debt gains \(losses\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 327.20 414.06 Td (\(56\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 386.35 414.06 Td (49) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 429.60 414.06 Td (\(105\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 488.80 414.06 Td (158) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 537.60 414.06 Td (\(214\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 400.06 Td (Derivative gains \(losses\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 313.30 400.06 Td (\(1,217\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 369.85 400.06 Td (\(2,089) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 397.50 400.06 Td (\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 434.80 400.06 Td (872) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 488.80 400.06 Td (728) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 529.30 400.06 Td (\(1,945\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 386.06 Td (Total other non-interest income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.80 386.06 Td (593) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 377.85 386.06 Td (\(109) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 397.50 386.06 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.80 386.06 Td (702) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.80 386.06 Td (537) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.35 386.06 Td (56) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 371.06 Td (Benefit \(provision\) for credit losses) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 326.80 371.06 Td (179) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 380.80 371.06 Td (160) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 440.35 371.06 Td (19) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 488.80 371.06 Td (380) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 537.60 371.06 Td (\(201\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 357.06 Td (Non-interest expense) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 313.30 357.06 Td (\(1,423\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 369.85 357.06 Td (\(1,511) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 397.50 357.06 Td (\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 440.35 357.06 Td (88) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 477.85 357.06 Td (\(1,200) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 505.50 357.06 Td (\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 537.60 357.06 Td (\(223\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 343.06 Td (Income \(loss\) before income tax \(expense\) benefit) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 318.45 343.06 Td (2,136) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.45 343.06 Td (1,898) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.80 343.06 Td (238) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.45 343.06 Td (3,262) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 528.55 343.06 Td (\(1,126\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 329.06 Td (Income tax \(expense\) benefit) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 321.60 329.06 Td (\(427\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 378.20 329.06 Td (\(392) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 397.50 329.06 Td (\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 435.20 329.06 Td (\(35\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 486.20 329.06 Td (\(556) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 505.50 329.06 Td (\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 542.80 329.06 Td (129) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 315.06 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 318.45 315.06 Td (1,709) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.45 315.06 Td (1,506) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.80 315.06 Td (203) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.45 315.06 Td (2,706) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.85 315.06 Td (\(997\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 301.06 Td (Total other comprehensive income \(loss\), net of) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 291.06 Td (taxes and reclassification adjustments) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 326.80 297.06 Td (139) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 380.80 297.06 Td (320) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 429.60 297.06 Td (\(181\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 486.20 297.06 Td (\(147) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 505.50 297.06 Td (\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 542.80 297.06 Td (286) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 278.06 Td (Comprehensive income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.90 278.06 Td ($1,848) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.90 278.06 Td ($1,826) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.80 278.06 Td ($22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.90 278.06 Td ($2,559) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.30 278.06 Td ($\(711\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 3) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 232.65 724.95 Td (Selected Financial Measures ) Tj ET Q BT /F10 6.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 205.05 700.95 Td (? Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 206.72 700.95 Td (Net Interest Income and Net Interest Yield) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 266.60 688.95 Td (\(Dollars in billions\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 345.36 688.95 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.36 688.95 Td ( ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.9333333333333333 0.15294117647058825 0.1411764705882353 rg BT 306.00 676.95 Td ( ) Tj ET Q BT /F6 7.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 513.00 0 0 185.00 49.50 486.95 cm /I9 Do Q BT /F1 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 72.00 484.75 Td (? Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 73.67 484.75 Td (Amounts may not add due to rounding.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 466.75 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 466.75 Td (Net interest income and net interest yield decreased from the prior quarter, primarily driven by higher ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 454.75 Td (amortization expense due to an increase in loan prepayments combined with compressed net yields due ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 442.75 Td (to the flattening of the yield curve. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 187.05 418.75 Td (Guarantee Fee Income) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.00 Tf ET q 0 0 0 rg BT 294.75 422.25 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 301.64 418.75 Td (, Guarantee Fee Rate, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 232.00 406.75 Td (Multifamily Guarantee Portfolio ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.9333333333333333 0.15294117647058825 0.1411764705882353 rg BT 306.00 394.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 513.00 0 0 215.00 49.50 174.75 cm /I10 Do Q BT /F1 10.00 Tf ET BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 72.00 174.65 Td (\(1\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 78.87 172.55 Td (Guarantee fee income on a GAAP basis is primarily from the companys multifamily business.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 152.15 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 152.15 Td (Guarantee fee income increased from the prior quarter, primarily due to continued growth in the Multifamily ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 140.15 Td (guarantee portfolio.) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 4) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 202.25 724.95 Td (Non-GAAP Financial Measure Highlights ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 700.95 Td (In addition to analyzing the companys results on a GAAP basis, management reviews net interest income and ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 688.95 Td (guarantee fee income on an adjusted,?or non-GAAP, basis. These adjusted financial measures are calculated by ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 676.95 Td (reclassifying certain credit guarantee-related activities and investment-related activities between various line items ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 664.95 Td (on the companys GAAP consolidated statements of comprehensive income. The company also presents two ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 652.95 Td (additional non-GAAP financial measures, adjusted net interest yield and adjusted guarantee fee rate, that are ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 640.95 Td (calculated based on adjusted net interest income and adjusted guarantee fee income, respectively. Management ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 628.95 Td (believes that these non-GAAP financial measures are useful because they more clearly reflect the companys ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 616.95 Td (sources of revenue and return.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 598.95 Td (For additional information about the company's non-GAAP financial measures and reconciliations to the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 586.95 Td (comparable amounts under GAAP, see pages 14 - 15 of this press release.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 151.10 562.95 Td (Adjusted Net Interest Income) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.00 Tf ET q 0 0 0 rg BT 290.53 566.45 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.42 562.95 Td (, Adjusted Net Interest Yield) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.00 Tf ET q 0 0 0 rg BT 430.64 566.45 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.53 562.95 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 255.10 550.95 Td (Investments Portfolio) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 266.60 540.15 Td (\(Dollars in billions\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.00 529.35 Td ( ) Tj ET Q /GS0 gs q 513.00 0 0 230.00 49.50 294.35 cm /I11 Do Q BT /F1 10.00 Tf ET BT /F6 6.00 Tf ET BT /F6 3.60 Tf ET q 0 0 0 rg BT 67.50 294.25 Td (\(1\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 76.50 292.15 Td (Non-GAAP financial measure. For reconciliations to the comparable amounts under GAAP, see page 14 of this press release.) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 76.50 281.95 Td (? Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 78.17 281.95 Td (Amounts may not add due to rounding.) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 183.00 281.95 Td (? Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 263.95 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 263.95 Td (Adjusted net interest income and adjusted net interest yield declined from the prior quarter, primarily driven ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 251.95 Td (by higher amortization expense resulting from an increase in loan prepayments combined with a decrease ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 239.95 Td (in interest income on unsecuritized loans. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 221.95 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 221.95 Td (The mortgage-related investments portfolio was ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 302.36 221.95 Td ($222 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 353.49 221.95 Td (, up ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 373.32 221.95 Td ($3 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 413.33 221.95 Td (, or ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 430.74 221.95 Td (1%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 446.30 221.95 Td (, from the prior quarter, ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 209.95 Td (but down ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 130.51 209.95 Td ($6 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 170.52 209.95 Td (, or ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 187.93 209.95 Td (3%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 203.49 209.95 Td (, from the prior year. In February 2019, FHFA directed the company to maintain ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 197.95 Td (the mortgage-related investments portfolio at or below $225 billion at all times.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 138.50 726.40 Td (Adjusted Guarantee Fee Income) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.00 Tf ET q 0 0 0 rg BT 291.34 729.90 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 298.23 726.40 Td (, Adjusted Guarantee Fee Rate) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.00 Tf ET q 0 0 0 rg BT 443.27 729.90 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 450.16 726.40 Td (, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 246.55 714.40 Td (Total Guarantee Portfolio ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 266.60 703.60 Td (\(Dollars in billions\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.00 692.80 Td ( ) Tj ET Q /GS0 gs q 513.00 0 0 230.00 49.50 457.80 cm /I12 Do Q BT /F10 6.00 Tf ET q 0 0 0 rg BT 562.50 462.80 Td (? ) Tj ET Q BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 76.50 457.70 Td (\(1\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 85.50 455.60 Td (Non-GAAP financial measure. For reconciliations to the comparable amounts under GAAP, see page 14 of this press release.) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 85.50 445.40 Td (Amounts may not add due to rounding.) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 190.34 445.40 Td (? Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 427.40 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 427.40 Td (Adjusted guarantee fee income and adjusted guarantee fee rate increased from the prior quarter, primarily ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 415.40 Td (driven by higher amortization of single-family upfront fees resulting from an increase in loan prepayments. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 397.40 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 397.40 Td (The total guarantee portfolio grew ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 238.96 397.40 Td ($37 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 284.53 397.40 Td (, or ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 301.94 397.40 Td (2%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 317.50 397.40 Td (, from the prior quarter and ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 440.80 397.40 Td ($120 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 491.93 397.40 Td (, or ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 509.34 397.40 Td (6%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 524.90 397.40 Td (, from ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 385.40 Td (the prior year, driven by increases in both the Single-Family and Multifamily guarantee portfolios.) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 217.15 353.00 Td (Return on Conservatorship Capital ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 335.00 Td (The table below provides the ROCC, calculated as \(1\) annualized comprehensive income for the period divided by ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 323.00 Td (\(2\) average conservatorship capital during the period. ) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 289.97 326.50 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 305.00 Td (ROCC is not based on the company's total equity and does not reflect actual returns on total equity. The company ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 293.00 Td (does not believe that returns on total equity are meaningful because of the net worth limit imposed since 2012 ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 281.00 Td (under the Purchase Agreement. In addition, the company believes that returns post-conservatorship would most ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 269.00 Td (likely be lower than the levels calculated below, assuming the same portfolio of risk assets, as it expects that it ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 257.00 Td (would hold capital above the minimum required regulatory capital levels and that it would be required to pay fees ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 245.00 Td (for federal government support, thereby reducing its total comprehensive income.) Tj ET Q BT /F8 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.25882352941176473 0.25882352941176473 0.25882352941176473 rg BT 49.50 222.80 Td (Return on Conservatorship Capital ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 212.30 253.00 -15.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 307.00 212.30 48.00 -15.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 359.00 212.30 46.00 -15.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 409.00 212.30 48.00 -15.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 461.00 212.30 47.00 -15.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 512.00 212.30 48.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 307.00 197.30 48.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 359.00 197.30 46.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 461.00 197.30 47.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 307.00 182.30 48.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 359.00 182.30 46.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 461.00 182.30 47.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 307.00 167.30 48.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 359.00 167.30 46.00 -15.00 re f /GS0 gs 0.8980392156862745 0.8980392156862745 0.8980392156862745 rg /GS0 gs 461.00 167.30 47.00 -15.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 167.29999999999995 m 355 167.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 167.29999999999995 m 405 167.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 167.29999999999995 m 457 167.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 167.29999999999995 m 461 167.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 167.29999999999995 m 508 167.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 167.29999999999995 m 512 167.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 167.29999999999995 m 560 167.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 167.29999999999995 m 303 167.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 152.29999999999995 m 303 152.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 167.29999999999995 m 355 167.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 152.29999999999995 m 355 152.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 167.29999999999995 m 359 167.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 152.29999999999995 m 359 152.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 167.29999999999995 m 405 167.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 152.29999999999995 m 405 152.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 167.29999999999995 m 409 167.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 152.29999999999995 m 409 152.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 152.29999999999995 m 457 152.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 152.29999999999995 m 461 152.29999999999995 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 167.29999999999995 m 508 167.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 152.29999999999995 m 508 152.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 152.29999999999995 m 512 152.29999999999995 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 152.29999999999995 m 560 152.29999999999995 l s BT /F6 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 52.50 202.09 Td (\(Dollars in billions\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 311.30 202.66 Td (3Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 362.30 202.66 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 414.05 202.66 Td (Change) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 464.80 202.66 Td (3Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 517.05 202.66 Td (Change) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 187.66 Td (GAAP comprehensive income) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 332.00 187.66 Td ($1.8) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 382.00 187.66 Td ($1.8) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 434.00 187.66 Td ($0.0) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 485.00 187.66 Td ($2.6) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 531.85 187.66 Td ($\(0.8\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 172.66 Td (Conservatorship capital \(average during the period\)) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 280.92 176.16 Td (\(1\)\(2\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 326.45 172.66 Td ($51.3) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 376.45 172.66 Td ($51.7) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 428.85 172.66 Td ($\(0.4\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 479.45 172.66 Td ($56.5) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 531.85 172.66 Td ($\(5.2\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 157.66 Td (ROCC, based on GAAP comprehensive income) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 325.00 157.66 Td (14.4) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 344.50 157.66 Td (%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 375.00 157.66 Td (14.1) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 394.50 157.66 Td (%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 432.60 157.66 Td (0.3) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 446.50 157.66 Td (%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 478.00 157.66 Td (18.1) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 497.50 157.66 Td (%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 530.40 157.66 Td (\(3.7) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 546.90 157.66 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 49.50 147.70 Td (\(1\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 56.37 145.60 Td (Average conservatorship capital and ROCC for 3Q19 are preliminary and subject to change until official submission to the Federal Housing Finance Agency \(FHFA\). ) Tj ET Q BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 49.50 140.50 Td (\(2\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 56.37 138.40 Td (Average conservatorship capital for each period is based on the Conservatorship Capital Framework \(CCF\) in effect during that period, except that the 3Q18 figure has been revised to ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 58.50 131.20 Td (include capital for deferred tax assets. The CCF in effect as of September 30, 2019 was largely unchanged from the CCF as of June 30, 2019.) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 54.00 116.80 Td (Amounts may not add due to rounding.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 98.80 Td (ROCC increased compared to the prior quarter, driven by a small increase in earnings and the lower level of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 86.80 Td (conservatorship capital needed, primarily resulting from a decrease in deferred tax assets and the efficient ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 74.80 Td (disposition of legacy assets. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 56.80 Td (For additional information on the CCF and ROCC, see the companys Quarterly Report on Form 10-Q for the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 44.80 Td (quarter ended September 30, 2019.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 6) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 174.50 724.95 Td (Segment Financial Results and Business Highlights) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 700.95 Td (Freddie Macs operations consist of three reportable segments, which are based on the types of business activities ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 688.95 Td (they perform ?Single-Family Guarantee, Multifamily, and Capital Markets. The company presents Segment ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 676.95 Td (Earnings for each reportable segment by reclassifying certain credit guarantee-related activities and investment-) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 664.95 Td (related activities between various line items on its GAAP consolidated statements of comprehensive income and ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 652.95 Td (allocating certain revenues and expenses, including funding costs and administrative expenses, to its three ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 640.95 Td (reportable segments.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 622.95 Td (For more information about Segment Earnings, see Note 13 to the financial statements included in the companys ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 610.95 Td (Quarterly Report on Form 10-Q for the quarter ended September 30, 2019.) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg BT 49.50 587.55 Td (Single-Family Guarantee Segment ) Tj ET Q BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 569.55 Td (Providing liquidity to the market while transforming U.S. housing finance) Tj ET Q BT /F6 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 49.5 552.55 m 211.8818359375 552.55 l s q 0 0 0 rg BT 49.50 553.55 Td (Third Quarter 2019 Financial Results) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 211.88 556.70 Td (\(1\) ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 543.05 224.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 278.00 543.05 54.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 336.00 543.05 53.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 393.00 543.05 54.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 451.00 543.05 54.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 509.00 543.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 529.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 529.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 529.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 515.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 515.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 515.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 501.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 501.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 501.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 487.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 487.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 487.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 473.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 473.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 473.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 459.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 459.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 459.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 445.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 445.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 445.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 431.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 431.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 431.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 417.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 417.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 417.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 403.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 403.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 403.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 389.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 389.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 389.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 278.00 375.05 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 336.00 375.05 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 451.00 375.05 54.00 -14.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 431.05 m 332 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 431.05 m 336 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 431.05 m 389 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 431.05 m 393 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393 431.05 m 447 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 431.05 m 451 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 431.05 m 505 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 431.05 m 509 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 431.05 m 562 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 431.05 m 274 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 431.05 m 389 431.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 403.05 m 332 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 403.05 m 336 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 403.05 m 389 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 403.05 m 393 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393 403.05 m 447 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 403.05 m 451 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 403.05 m 505 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 403.05 m 509 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 403.05 m 562 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 403.05 m 274 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 403.05 m 332 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 403.05 m 389 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 403.05 m 505 403.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 375.05 m 332 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 375.05 m 389 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 375.05 m 274 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 362.05 m 274 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 360.05 m 274 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 375.05 m 332 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 362.05 m 332 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 360.05 m 332 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 375.05 m 336 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 362.05 m 336 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 360.05 m 336 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 375.05 m 389 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 362.05 m 389 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 360.05 m 389 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 375.05 m 393 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 362.05 m 393 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 360.05 m 393 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393 375.05 m 447 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393 362.05 m 447 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393 360.05 m 447 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 375.05 m 451 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 362.05 m 451 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 360.05 m 451 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 375.05 m 505 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 362.05 m 505 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 360.05 m 505 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 375.05 m 509 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 362.05 m 509 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 360.05 m 509 360.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 375.05 m 562 375.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 362.05 m 562 362.05 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 360.05 m 562 360.05 l s BT /F6 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 52.50 533.84 Td (\(Dollars in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 285.30 533.41 Td (3Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 342.80 533.41 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 401.05 533.41 Td (Change) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 458.30 533.41 Td (3Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 516.55 533.41 Td (Change) Tj ET Q BT /F6 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 520.12 Td (Guarantee fee income) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 300.95 520.12 Td ($2,075) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 357.95 520.12 Td ($1,889) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 423.45 520.12 Td ($186) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 473.95 520.12 Td ($1,676) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 538.45 520.12 Td ($399) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 506.12 Td (Benefit \(provision\) for credit losses) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 313.45 506.12 Td (134) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 375.45 506.12 Td (79) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 433.45 506.12 Td (55) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 506.12 Td (205) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 543.80 506.12 Td (\(71\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 492.12 Td (Financial instruments gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 194.52 495.27 Td (\(2\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 318.45 492.12 Td (51) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 375.45 492.12 Td (77) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 428.80 492.12 Td (\(26\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 491.80 492.12 Td (\(5\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 548.45 492.12 Td (56) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 478.12 Td (Other non-interest income \(loss\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 313.45 478.12 Td (318) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 370.45 478.12 Td (269) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 433.45 478.12 Td (49) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 478.12 Td (387) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 543.80 478.12 Td (\(69\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 464.12 Td (Administrative expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 308.80 464.12 Td (\(399\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 365.80 464.12 Td (\(400\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 438.45 464.12 Td (1) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.80 464.12 Td (\(371\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 543.80 464.12 Td (\(28\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 450.12 Td (REO operations income \(expense\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 313.80 450.12 Td (\(61\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 370.80 450.12 Td (\(86\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 433.45 450.12 Td (25) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.80 450.12 Td (\(42\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 543.80 450.12 Td (\(19\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 436.12 Td (Other non-interest expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 308.80 436.12 Td (\(554\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 365.80 436.12 Td (\(625\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 433.45 436.12 Td (71) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.80 436.12 Td (\(413\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 538.80 436.12 Td (\(141\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 422.12 Td (Segment Earnings before income tax expense) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 305.95 422.12 Td (1,564) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.95 422.12 Td (1,203) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.45 422.12 Td (361) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.95 422.12 Td (1,437) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.45 422.12 Td (127) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 408.12 Td (Income tax \(expense\) benefit) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 308.80 408.12 Td (\(314\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 365.80 408.12 Td (\(248\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 428.80 408.12 Td (\(66\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.80 408.12 Td (\(254\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 543.80 408.12 Td (\(60\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 394.12 Td (Segment Earnings, net of taxes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 305.95 394.12 Td (1,250) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.45 394.12 Td (955) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.45 394.12 Td (295) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.95 394.12 Td (1,183) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 548.45 394.12 Td (67) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 380.12 Td (Total other comprehensive income \(loss\), net of tax) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 318.80 380.12 Td (\(3\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 375.80 380.12 Td (\(2\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 433.80 380.12 Td (\(1\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 491.80 380.12 Td (\(2\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 548.80 380.12 Td (\(1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 366.12 Td (Total comprehensive income \(loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 300.95 366.12 Td ($1,247) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.45 366.12 Td ($953) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.45 366.12 Td ($294) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.95 366.12 Td ($1,181) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.45 366.12 Td ($66) Tj ET Q BT /F1 10.00 Tf ET BT /F4 7.00 Tf ET BT /F4 4.20 Tf ET q 0 0 0 rg BT 54.00 349.60 Td (\(1\) ) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 63.00 347.15 Td (The financial performance of the companys Single-Family Guarantee segment is measured based on its contribution to GAAP net income \(loss\).) Tj ET Q BT /F4 7.00 Tf ET BT /F4 4.20 Tf ET q 0 0 0 rg BT 54.00 341.20 Td (\(2\) ) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 63.00 338.75 Td (Consists of fair value gains and losses on debt for which the company has elected the fair value option and derivatives.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 320.75 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 320.75 Td (Segment Earnings increased from the prior quarter, primarily driven by higher amortization of single-family ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 308.75 Td (upfront fees resulting from an increase in loan prepayments. ) Tj ET Q BT /F6 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 49.5 289.75 m 224.2919921875 289.75 l s q 0 0 0 rg BT 49.50 290.75 Td (Third Quarter 2019 Business Highlights) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 277.55 Td (? Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 265.55 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 265.55 Td (New business activity was ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 205.86 265.55 Td ($134 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 256.99 265.55 Td (, an increase of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 327.93 265.55 Td ($32 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 373.50 265.55 Td (, or ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 390.91 265.55 Td (31%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 412.03 265.55 Td (, from the prior quarter. ) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 245.39 cm /I13 Do Q q 0 0 0 rg BT 89.50 247.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 247.55 Td (Home purchase volume increased ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 258.55 247.55 Td (17%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 279.67 247.55 Td (, while refinance volume increased ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 435.99 247.55 Td (57%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 457.11 247.55 Td (. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 229.55 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 229.55 Td (The Single-Family credit guarantee portfolio increased to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 340.55 229.55 Td ($1,961 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 400.02 229.55 Td (.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 211.55 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 211.55 Td (Average guarantee fees charged on new acquisitions increased to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 381.49 211.55 Td (45) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 392.61 211.55 Td ( basis points.) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 191.39 cm /I14 Do Q q 0 0 0 rg BT 89.50 193.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 193.55 Td (Average guarantee fees on the single-family credit guarantee portfolio were) Tj ET Q BT /F6 4.00 Tf ET q 0 0 0 rg BT 437.62 193.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 438.73 193.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 441.51 193.55 Td (43) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 452.63 193.55 Td ( basis points, up from ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 181.55 Td (39 basis points for the prior quarter, due to the increased amortization of single-family upfront fees.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 163.55 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 163.55 Td (As of September 30, 2019, the company had cumulatively transferred a portion of credit risk on nearly $1.4 ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 151.55 Td (trillion of single-family mortgages, based upon the UPB at issuance of the CRT transactions.) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 131.39 cm /I15 Do Q q 0 0 0 rg BT 89.50 133.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 133.55 Td (Conservatorship capital needed for credit risk was reduced by approximately 75%) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 470.42 137.05 Td (\(1\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 476.87 133.55 Td ( through CRT ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 121.55 Td (transactions on new business activity in the twelve months ended September 30, 2018.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 103.55 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 103.55 Td (The company provided funding for ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 242.40 103.55 Td (514) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 259.08 103.55 Td (,000 single-family homes, more than ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 424.15 103.55 Td (299) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 440.83 103.55 Td (,000 of which were home ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 91.55 Td (purchase loans.) Tj ET Q BT /F6 7.00 Tf ET BT /F6 4.20 Tf ET q 0 0 0 rg BT 76.50 79.60 Td (\(1\) ) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 84.51 77.15 Td (The reduction in the amount of conservatorship capital needed for credit risk on new business activity is calculated as conservatorship credit capital released from the CRT ) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 85.50 69.95 Td (transactions \(primarily through STACR and ACIS\) divided by total conservatorship credit capital on new business activity at the time of purchase.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 7) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg BT 49.50 724.95 Td (Multifamily Segment ) Tj ET Q BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 706.95 Td (Leading through innovation) Tj ET Q BT /F6 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 49.5 689.95 m 211.8818359375 689.95 l s q 0 0 0 rg BT 49.50 690.95 Td (Third Quarter 2019 Financial Results) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 211.88 694.10 Td (\(1\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 217.68 690.95 Td ( ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.50 680.45 223.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 277.50 680.45 53.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 334.50 680.45 53.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 391.50 680.45 54.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 449.50 680.45 54.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 507.50 680.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 666.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 666.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 666.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 652.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 652.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 652.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 638.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 638.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 638.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 624.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 624.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 624.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 610.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 610.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 610.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 596.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 596.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 596.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 582.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 582.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 582.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 568.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 568.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 568.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 554.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 554.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 554.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 540.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 540.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 540.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 526.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 526.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 526.45 54.00 -14.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 582.45 m 330.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 582.45 m 334.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 582.45 m 387.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 582.45 m 391.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 582.45 m 445.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 582.45 m 449.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 582.45 m 503.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 582.45 m 507.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 582.45 m 560.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 582.45 m 273.5 582.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 554.45 m 330.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 554.45 m 334.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 554.45 m 387.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 554.45 m 391.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 554.45 m 445.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 554.45 m 449.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 554.45 m 503.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 554.45 m 507.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 554.45 m 560.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 554.45 m 273.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 554.45 m 330.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 554.45 m 503.5 554.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 526.45 m 330.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 526.45 m 387.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 526.45 m 273.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 513.45 m 273.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 511.45 m 273.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 526.45 m 330.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 513.45 m 330.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 511.45 m 330.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 526.45 m 334.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 513.45 m 334.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 511.45 m 334.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 526.45 m 387.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 513.45 m 387.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 511.45 m 387.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 526.45 m 391.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 513.45 m 391.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 511.45 m 391.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 526.45 m 445.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 513.45 m 445.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 511.45 m 445.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 526.45 m 449.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 513.45 m 449.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 511.45 m 449.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 526.45 m 503.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 513.45 m 503.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 511.45 m 503.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 526.45 m 507.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 513.45 m 507.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 511.45 m 507.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 526.45 m 560.5 526.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 513.45 m 560.5 513.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 511.45 m 560.5 511.45 l s BT /F6 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 53.00 671.24 Td (\(Dollars in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 284.30 670.81 Td (3Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 341.30 670.81 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 399.55 670.81 Td (Change) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 456.80 670.81 Td (3Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 515.05 670.81 Td (Change) Tj ET Q BT /F6 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 53.00 657.52 Td (Net interest income) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 306.95 657.52 Td ($292) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 363.95 657.52 Td ($266) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 426.95 657.52 Td ($26) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 479.95 657.52 Td ($280) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.95 657.52 Td ($12) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 643.52 Td (Guarantee fee income) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 311.95 643.52 Td (233) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 368.95 643.52 Td (222) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 431.95 643.52 Td (11) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 485.25 643.52 Td (210) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 546.95 643.52 Td (23) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 629.52 Td (Benefit \(provision\) for credit losses) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 317.30 629.52 Td (\(1\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 374.30 629.52 Td (\(1\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 436.95 629.52 Td (0) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 495.25 629.52 Td (2) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 547.30 629.52 Td (\(3\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 615.52 Td (Financial instrument gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 190.52 618.67 Td (\(2\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 311.95 615.52 Td (256) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 373.95 615.52 Td (27) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 426.95 615.52 Td (229) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 485.25 615.52 Td (266) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.30 615.52 Td (\(10\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 601.52 Td (Administrative expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 307.30 601.52 Td (\(125\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 364.30 601.52 Td (\(120\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.30 601.52 Td (\(5\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 482.95 601.52 Td (\(109) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 500.30 601.52 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.30 601.52 Td (\(16\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 587.52 Td (Other non-interest income \(expense\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 316.95 587.52 Td (72) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 373.95 587.52 Td (89) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 427.30 587.52 Td (\(17\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 490.25 587.52 Td (13) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 546.95 587.52 Td (59) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 573.52 Td (Segment Earnings before income tax expense) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.95 573.52 Td (727) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.95 573.52 Td (483) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.95 573.52 Td (244) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.25 573.52 Td (662) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.95 573.52 Td (65) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 559.52 Td (Income tax \(expense\) benefit) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 307.30 559.52 Td (\(146\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 364.30 559.52 Td (\(100\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 427.30 559.52 Td (\(46\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 482.95 559.52 Td (\(113) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 500.30 559.52 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.30 559.52 Td (\(33\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 545.52 Td (Segment Earnings, net of taxes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.95 545.52 Td (581) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.95 545.52 Td (383) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.95 545.52 Td (198) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.25 545.52 Td (549) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.95 545.52 Td (32) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 531.52 Td (Total other comprehensive income \(loss\), net of tax) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 316.95 531.52 Td (10) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 373.95 531.52 Td (57) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 427.30 531.52 Td (\(47\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 487.95 531.52 Td (\(44) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 500.30 531.52 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 546.95 531.52 Td (54) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 517.52 Td (Total comprehensive income \(loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.95 517.52 Td ($591) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.95 517.52 Td ($440) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.95 517.52 Td ($151) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.95 517.52 Td ($505) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.95 517.52 Td ($86) Tj ET Q BT /F1 10.00 Tf ET BT /F4 7.00 Tf ET BT /F4 4.20 Tf ET q 0 0 0 rg BT 49.50 501.00 Td (\(1\) ) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 58.50 498.55 Td (The financial performance of the companys Multifamily segment is measured based on its contribution to GAAP comprehensive income \(loss\).) Tj ET Q BT /F4 7.00 Tf ET BT /F4 4.20 Tf ET q 0 0 0 rg BT 49.50 492.60 Td (\(2\) ) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 58.50 490.15 Td (Primarily consists of fair value gains and losses on loan purchase commitments, mortgage loans and debt for which the company has elected the fair value option, ) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 58.50 481.75 Td (certain investment securities, and derivatives.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 463.75 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 463.75 Td (Comprehensive income increased from the prior quarter, driven by higher fair value gains on held-for-sale ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 451.75 Td (commitments primarily due to targeted price increases related to changing market conditions.) Tj ET Q BT /F6 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 49.5 432.75 m 224.2919921875 432.75 l s q 0 0 0 rg BT 49.50 433.75 Td (Third Quarter 2019 Business Highlights) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 224.29 433.75 Td (? Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 415.75 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 415.75 Td (New business activity was ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 205.86 415.75 Td ($29 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 251.43 415.75 Td (, an increase of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 322.37 415.75 Td (66%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 343.49 415.75 Td ( from the prior quarter, while outstanding ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 403.75 Td (purchase commitments decreased ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 243.16 403.75 Td (33%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 264.28 403.75 Td ( to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 278.61 403.75 Td ($16 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 324.18 403.75 Td (, primarily reflecting higher funding volume.) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 383.59 cm /I16 Do Q q 0 0 0 rg BT 89.50 385.75 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 385.75 Td (On September 13, 2019, FHFA announced a revised loan purchase cap structure for the multifamily ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 373.75 Td (business. The loan purchase cap will be $100.0 billion for the five-quarter period from the fourth ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 361.75 Td (quarter of 2019 through the fourth quarter of 2020 and at least 37.5% of the new multifamily business ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 349.75 Td (must be mission-driven, affordable housing. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 331.75 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 331.75 Td (The Multifamily guarantee portfolio increased to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 300.66 331.75 Td ($260 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 351.79 331.75 Td (, driven by strong new business activity. ) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 311.59 cm /I17 Do Q q 0 0 0 rg BT 89.50 313.75 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 313.75 Td (Average guarantee fees on the Multifamily guarantee portfolio were 36 basis points, substantially ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 301.75 Td (unchanged from the prior quarter.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 283.75 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 283.75 Td (As of September 30, 2019, the company had cumulatively transferred a large majority of credit risk on the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 271.75 Td (Multifamily guarantee portfolio. ) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 251.59 cm /I18 Do Q q 0 0 0 rg BT 89.50 253.75 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 253.75 Td (Conservatorship capital needed for credit risk was reduced by approximately 90%) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 470.42 257.25 Td (\(1\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 476.87 253.75 Td ( through CRT ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 241.75 Td (transactions on new business activity in the twelve months ended September 30, 2018. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 223.75 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 223.75 Td (The company provided financing for ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 249.43 223.75 Td (296) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 266.11 223.75 Td (,000 rental units.) Tj ET Q BT /F6 6.00 Tf ET BT /F6 3.60 Tf ET q 0 0 0 rg BT 90.00 212.65 Td (\(1\) ) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 96.87 210.55 Td (The reduction in the amount of conservatorship capital needed for credit risk on new business activity is calculated as conservatorship credit capital released from the CRT ) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 99.00 203.35 Td (transactions \(primarily through K Certificates and SB Certificates\) divided by total conservatorship credit capital on new business activity.) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 8) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg BT 49.50 724.95 Td (Capital Markets Segment ) Tj ET Q BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 706.95 Td (Innovating to enhance theliquidityof the mortgage market and activelyreduce riskfor taxpayers) Tj ET Q BT /F6 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 49.5 687.95 m 211.8818359375 687.95 l s q 0 0 0 rg BT 49.50 688.95 Td (Third Quarter 2019 Financial Results) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 211.88 692.45 Td (\(1\) ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.50 678.45 223.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 277.50 678.45 53.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 334.50 678.45 53.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 391.50 678.45 54.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 449.50 678.45 54.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 507.50 678.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 664.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 664.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 664.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 650.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 650.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 650.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 636.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 636.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 636.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 622.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 622.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 622.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 608.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 608.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 608.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 594.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 594.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 594.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 580.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 580.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 580.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 566.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 566.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 566.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 552.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 552.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 552.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 538.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 538.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 538.45 54.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 277.50 524.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 334.50 524.45 53.00 -14.00 re f /GS0 gs 0.8666666666666667 0.8666666666666667 0.8666666666666667 rg /GS0 gs 449.50 524.45 54.00 -14.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 580.45 m 330.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 580.45 m 334.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 580.45 m 387.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 580.45 m 391.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 580.45 m 445.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 580.45 m 449.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 580.45 m 503.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 580.45 m 507.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 580.45 m 560.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 580.45 m 273.5 580.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 552.45 m 330.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 552.45 m 334.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 552.45 m 387.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 552.45 m 391.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 552.45 m 445.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 552.45 m 449.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 552.45 m 503.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 552.45 m 507.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 552.45 m 560.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 552.45 m 273.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 552.45 m 330.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 552.45 m 503.5 552.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 524.45 m 330.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 524.45 m 387.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 524.45 m 273.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 511.45 m 273.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 509.45 m 273.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 524.45 m 330.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 511.45 m 330.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 509.45 m 330.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 524.45 m 334.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 511.45 m 334.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 509.45 m 334.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 524.45 m 387.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 511.45 m 387.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 509.45 m 387.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 524.45 m 391.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 511.45 m 391.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 509.45 m 391.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 524.45 m 445.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 511.45 m 445.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 509.45 m 445.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 524.45 m 449.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 511.45 m 449.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 509.45 m 449.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 524.45 m 503.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 511.45 m 503.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 509.45 m 503.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 524.45 m 507.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 511.45 m 507.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 509.45 m 507.5 509.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 524.45 m 560.5 524.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 511.45 m 560.5 511.45 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 509.45 m 560.5 509.45 l s BT /F6 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 53.00 669.24 Td (\(Dollars in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 284.30 668.81 Td (3Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 341.30 668.81 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 399.55 668.81 Td (Change) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 456.80 668.81 Td (3Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 515.05 668.81 Td (Change) Tj ET Q BT /F6 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 53.00 655.52 Td (Net interest income) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 306.95 655.52 Td ($497) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 363.95 655.52 Td ($747) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 417.30 655.52 Td ($\(250\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 479.95 655.52 Td ($845) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 532.30 655.52 Td ($\(348\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 641.52 Td (Investment securities gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 311.95 641.52 Td (136) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 368.95 641.52 Td (367) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 422.30 641.52 Td (\(231\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 480.30 641.52 Td (\(336\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.95 641.52 Td (472) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 627.52 Td (Debt gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 312.30 627.52 Td (\(17\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 374.30 627.52 Td (\(3\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 427.30 627.52 Td (\(14\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 484.95 627.52 Td (137) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.30 627.52 Td (\(154\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 613.52 Td (Derivative gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 307.30 613.52 Td (\(438\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 364.30 613.52 Td (\(990\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 426.95 613.52 Td (552) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 484.95 613.52 Td (427) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.30 613.52 Td (\(865\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 599.52 Td (Other non-interest income \(expense\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 307.30 599.52 Td (\(237\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 368.95 599.52 Td (190) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 422.30 599.52 Td (\(427\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 484.95 599.52 Td (179) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.30 599.52 Td (\(416\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 585.52 Td (Administrative expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 312.30 585.52 Td (\(96\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 369.30 585.52 Td (\(99\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 436.95 585.52 Td (3) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 485.30 585.52 Td (\(89\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 547.30 585.52 Td (\(7\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 571.52 Td (Segment Earnings before income tax expense) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.65 571.52 Td (\(155\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.95 571.52 Td (212) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.65 571.52 Td (\(367\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.45 571.52 Td (1,163) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 571.52 Td (\(1,318\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 557.52 Td (Income tax \(expense\) benefit) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 316.95 557.52 Td (33) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 369.30 557.52 Td (\(44\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 431.95 557.52 Td (77) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 480.30 557.52 Td (\(189\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.95 557.52 Td (222) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 543.52 Td (Segment Earnings, net of taxes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.65 543.52 Td (\(122\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.95 543.52 Td (168) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.65 543.52 Td (\(290\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.95 543.52 Td (974) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.15 543.52 Td (\(1,096\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 53.00 529.52 Td (Total other comprehensive income \(loss\), net of tax) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 311.95 529.52 Td (132) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 368.95 529.52 Td (265) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 422.30 529.52 Td (\(133\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 480.30 529.52 Td (\(101\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.95 529.52 Td (233) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.00 515.52 Td (Total comprehensive income \(loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.95 515.52 Td ($10) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.95 515.52 Td ($433) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.65 515.52 Td ($\(423\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.95 515.52 Td ($873) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.65 515.52 Td ($\(863\)) Tj ET Q BT /F1 10.00 Tf ET BT /F4 7.00 Tf ET BT /F4 4.20 Tf ET q 0 0 0 rg BT 49.50 499.00 Td (\(1\) ) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 58.50 496.55 Td (The financial performance of the companys Capital Markets segment is measured based on its contribution to GAAP comprehensive income \(loss\).) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 475.55 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 475.55 Td (Comprehensive income decreased from the prior quarter, primarily driven by:) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 455.39 cm /I19 Do Q q 0 0 0 rg BT 89.50 457.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 457.55 Td (Lower net interest income driven by higher amortization expense due to increased loan prepayments ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 445.55 Td (combined with compressed net yields due to the flattening of the yield curve; ) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 425.39 cm /I20 Do Q q 0 0 0 rg BT 89.50 427.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 427.55 Td (Higher amortization expense in non-interest income \(expense\) due to the timing difference in ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 415.55 Td (amortization related to prepayments between the debt of consolidated trusts and the underlying ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 403.55 Td (mortgage loans, as security prepayments are recognized in the month after the loan prepayments are ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 391.55 Td (recognized; and) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 371.39 cm /I21 Do Q q 0 0 0 rg BT 89.50 373.55 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 373.55 Td (Higher interest rate-related fair value losses due to the decline in long-term interest rates. In addition, ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 361.55 Td (the volume of derivatives increased related to the hedging of Single-Family upfront fees, which are ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 349.55 Td (recorded in the Single-Family Guarantee Segment, resulting in lower overall reduction in GAAP fair ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 337.55 Td (value interest rate risk from hedge accounting.) Tj ET Q BT /F6 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 49.5 312.55 m 224.2919921875 312.55 l s q 0 0 0 rg BT 49.50 313.55 Td (Third Quarter 2019 Business Highlights) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 306.35 Td (? Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 294.35 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 294.35 Td (The company continued to maintain a presence in the agency mortgage-related securities market to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 282.35 Td (strategically support the guarantee business.) Tj ET Q BT /F10 6.00 Tf ET q 0 0 0 rg BT 285.42 282.35 Td (? Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 262.19 cm /I22 Do Q q 0 0 0 rg BT 89.50 264.35 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 264.35 Td (The overall liquidity of the mortgage investments portfolio continued to improve as less liquid assets ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 252.35 Td (decreased during the quarter. ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 9) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 242.55 724.95 Td (Housing Market Support ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 700.95 Td (Freddie Mac supports the U.S. housing market by executing its charter mission to ensure credit availability for new ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 688.95 Td (and refinanced single-family mortgages as well as for rental housing and by helping struggling homeowners avoid ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 676.95 Td (foreclosure.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 652.95 Td (Mortgage Funding) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 136.73 652.95 Td ( ?Freddie Mac provided approximately ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 313.22 652.95 Td ($385 billion) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 364.35 652.95 Td ( in liquidity to the market in the nine months ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 640.95 Td (ended September 30, 2019, funding: ) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 633.75 Td (? Tj ET Q BT /F6 14.00 Tf ET q 0 0 0 rg BT 67.50 616.95 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 616.95 Td (Nearly ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 116.79 616.95 Td (1,217) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 141.81 616.95 Td (,000 single-family homes, approximately ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 324.53 616.95 Td (744) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 341.21 616.95 Td (,000 of which were home purchase loans; and) Tj ET Q BT /F6 14.00 Tf ET q 0 0 0 rg BT 67.50 594.15 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 594.15 Td (More than ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 133.67 594.15 Td (638,000) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 169.81 594.15 Td ( multifamily rental units.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.30 570.15 Td (Number of Families Helped to Own or Rent a Home) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 275.55 559.35 Td (\(In thousands\)) Tj ET Q /GS0 gs q 493.00 0 0 245.00 59.50 309.35 cm /I23 Do Q BT /F1 10.00 Tf ET BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 49.50 309.25 Td (\(1\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 56.37 307.15 Td (As of September 30.) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 49.50 295.95 Td (Amounts may not add due to rounding.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 264.75 Td (Preventing Foreclosures) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 165.18 264.75 Td ( ?Freddie Mac continued to help struggling borrowers retain their homes or otherwise) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 252.75 Td (avoid foreclosure, completing approximately ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 249.98 252.75 Td (36) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 261.10 252.75 Td (,000 single-family loan workouts in the nine months ended ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 240.75 Td (September 30, 2019. ) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 306.00 207.15 Td ( ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 10) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 208.65 724.95 Td (About Freddie Macs Conservatorship ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 700.95 Td (Since September 2008, Freddie Mac has been operating under conservatorship with FHFA as Conservator. The ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 688.95 Td (support provided by Treasury pursuant to the Purchase Agreement enables the company to maintain access to the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 676.95 Td (debt markets and have adequate liquidity to conduct its normal business operations. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.05 652.95 Td (Treasury Draws) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.00 Tf ET q 0 0 0 rg BT 282.29 656.45 Td (\(1\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.18 652.95 Td ( and Dividend Payments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 266.60 642.15 Td (\(Dollars in billions\) ) Tj ET Q /GS0 gs q 513.00 0 0 215.00 49.50 422.15 cm /I24 Do Q BT /F1 10.00 Tf ET BT /F4 7.00 Tf ET BT /F4 4.20 Tf ET q 0 0 0 rg BT 65.85 421.20 Td (\(1\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 74.85 418.75 Td (Excludes the initial $1 billion liquidation preference of senior preferred stock issued to Treasury in September 2008 as consideration for Treasurys funding commitment, the $3 billion ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 74.85 411.55 Td (increase in the aggregate liquidation preference of the senior preferred stock pursuant to the December 2017 Letter Agreement, and the $1.8 billion increase in the aggregate ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 74.85 404.35 Td (liquidation preference of the senior preferred stock pursuant to the September 2019 Letter Agreement. The company received no cash proceeds in connection with the initial $1 billion ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 74.85 397.15 Td (liquidation preference of senior preferred stock or the $3 billion and $1.8 billion increases on December 31, 2017 and September 30, 2019, respectively.) Tj ET Q BT /F4 6.00 Tf ET BT /F4 3.60 Tf ET q 0 0 0 rg BT 65.85 392.05 Td (\(2\) ) Tj ET Q BT /F4 6.00 Tf ET q 0 0 0 rg BT 74.85 389.95 Td (As of September 30, 2019.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 368.95 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 368.95 Td (On September 27, 2019, the Conservator, acting on Freddie Mac's behalf, entered into a Letter Agreement ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 356.95 Td (with Treasury \(the September 2019 Letter Agreement\), increasing the applicable Capital Reserve Amount ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 344.95 Td (used in calculating the company's dividend requirement to Treasury from $3.0 billion to $20.0 billion.) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 324.79 cm /I25 Do Q q 0 0 0 rg BT 89.50 326.95 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 326.95 Td (As a result of this increase in the Capital Reserve Amount, the company was not required to pay a ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 314.95 Td (dividend on the senior preferred stock to Treasury on September 30, 2019 based on the Net Worth ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 302.95 Td (Amount of $4.8 billion as of June 30, 2019, and will not have a dividend requirement to Treasury in ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 290.95 Td (December 2019. The company will not be required to pay a dividend on the senior preferred stock to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 278.95 Td (Treasury again until its Net Worth Amount exceeds the applicable Capital Reserve Amount of $20.0 ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 266.95 Td (billion.) Tj ET Q BT /F6 10.00 Tf ET /GS0 gs q 4.00 0 0 10.09 85.50 246.79 cm /I26 Do Q q 0 0 0 rg BT 89.50 248.95 Td ( ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 248.95 Td (Pursuant to the September 2019 Letter Agreement, the liquidation preference of the senior preferred ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 236.95 Td (stock increased from $75.6 billion to $77.5 billion on September 30, 2019 based on the $1.8 billion ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 103.50 224.95 Td (increase in the Net Worth Amount during the second quarter of 2019.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 67.50 206.95 Td (?) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 206.95 Td (The amount of funding available to Freddie Mac under the Purchase Agreement remained $140.2 billion at ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 85.50 194.95 Td (September 30, 2019.) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 76.50 177.55 Td (Amounts may not add due to rounding.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 11) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 249.95 724.95 Td (Additional Information) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 700.95 Td (For more information, including information related to Freddie Macs financial results, conservatorship, and related ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 688.95 Td (matters, see the companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 676.95 Td (companys Financial Results Supplement. These documents are available on the Investor Relations page of the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 664.95 Td (companys website at www.rcnewidea.com/investors.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 646.95 Td (Additional information about Freddie Mac and its business is also set forth in the companys other filings with the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 634.95 Td (SEC, which are available on the Investor Relations page of the companys website at www.rcnewidea.com/) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 622.95 Td (investors and the SECs website at www.sec.gov. Freddie Mac encourages all investors and interested members of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 610.95 Td (the public to review these materials for a more complete understanding of the companys financial results and ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 598.95 Td (related disclosures.) Tj ET Q BT /F9 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.27058823529411763 0.4823529411764706 0.7450980392156863 rg BT 242.20 575.55 Td (Webcast Announcement) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 551.55 Td (Management will host a conference call at 9 a.m. Eastern Time on October 30, 2019 to discuss the companys ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 539.55 Td (results with the media. The conference call will be concurrently webcast. To access the live audio webcast, use the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 527.55 Td (following link: ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.0196078431372549 0.38823529411764707 0.7568627450980392 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 113.01123046875 526.55 m 328.80322265625 526.55 l s q 0.0196078431372549 0.38823529411764707 0.7568627450980392 rg BT 113.01 527.55 Td (https://edge.media-server.com/mmc/p/zgqrvfbn) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 328.80 527.55 Td (. The replay will be available on the companys ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 515.55 Td (website at www.rcnewidea.com/investors for approximately 30 days. All materials related to the call will be ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 503.55 Td (available on the Investor Relations page of the companys website at www.rcnewidea.com/investors.) Tj ET Q 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 493.05 266.00 -6.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 316.00 493.05 247.00 -6.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 487.05 266.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 316.00 487.05 247.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 473.05 266.00 -6.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 316.00 473.05 247.00 -6.00 re f /GS0 gs BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 52.50 477.27 Td (Media Contact: Frederick Solomon \(703\)?03-3861) Tj ET Q BT /F2 10.00 Tf ET q 1 1 1 rg BT 326.05 477.27 Td (Investor Contact: Laurie Garthune \(571\)?82-4732) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F10 10.00 Tf ET q 0 0 0 rg BT 281.50 449.55 Td (****) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 437.55 Td (This press release contains forward-looking statements, which may include statements pertaining to the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 425.55 Td (conservatorship, the companys current expectations and objectives for its Single-Family Guarantee, Multifamily, ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 413.55 Td (and Capital Markets segments, its efforts to assist the housing market, liquidity and capital management, ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 401.55 Td (economic and market conditions and trends, market share, the effect of legislative and regulatory developments ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 389.55 Td (and new accounting guidance, credit quality of loans the company owns or guarantees, the costs and benefits of ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 377.55 Td (the companys credit risk transfer transactions, and results of operations and financial condition on a GAAP, ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 365.55 Td (Segment Earnings, non-GAAP, and fair value basis. Forward-looking statements involve known and unknown risks ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 353.55 Td (and uncertainties, some of which are beyond the companys control. Managements expectations for the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 341.55 Td (companys future necessarily involve a number of assumptions, judgments, and estimates, and various factors, ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 329.55 Td (including changes in market conditions, liquidity, mortgage spreads, credit outlook, actions by the U.S. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 317.55 Td (government \(including FHFA, Treasury, and Congress\), and the impacts of legislation or regulations and new or ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 305.55 Td (amended accounting guidance, could cause actual results to differ materially from these expectations. These ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 293.55 Td (assumptions, judgments, estimates, and factors are discussed in the companys Quarterly Reports on Form 10-Q ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 281.55 Td (for the quarters ended March 31, 2019, June 30, 2019, and September 30, 2019, which are available on the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 269.55 Td (Investor Relations page of the companys website at www.rcnewidea.com/investors and the SECs website at ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 257.55 Td (www.sec.gov. The company undertakes no obligation to update forward-looking statements it makes to reflect ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 245.55 Td (events or circumstances occurring after the date of this press release.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 227.55 Td (Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 215.55 Td (Since its creation by Congress in 1970, the company has made housing more accessible and affordable for ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 203.55 Td (homebuyers and renters in communities nationwide. The company is building a better housing finance system for ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 191.55 Td (homebuyers, renters, lenders, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 49.50 179.55 Td (Macs blog FreddieMac.com/blog.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 12) Tj ET Q BT /F5 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.6509803921568628 0.8862745098039215 rg BT 49.50 723.55 Td (FREDDIE MAC) Tj ET Q BT /F9 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.4666666666666667 0.47058823529411764 0.4549019607843137 rg BT 49.50 710.35 Td (Condensed Consolidated Statements of Comprehensive Income \(Loss\) \(Unaudited\) ) Tj ET Q 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 699.85 345.00 -23.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 399.00 699.85 52.00 -23.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 455.00 699.85 52.00 -23.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 511.00 699.85 52.00 -23.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 620.85 m 451 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 620.85 m 507 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 620.85 m 395 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 606.85 m 395 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 620.85 m 451 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 606.85 m 451 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 620.85 m 455 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 606.85 m 455 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 620.85 m 507 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 606.85 m 507 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 620.85 m 511 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 606.85 m 511 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 620.85 m 563 620.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 606.85 m 563 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 606.85 m 451 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 592.85 m 451 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 606.85 m 507 606.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 592.85 m 507 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 592.85 m 395 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 592.85 m 451 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 578.85 m 451 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 592.85 m 455 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 592.85 m 507 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 578.85 m 507 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 592.85 m 511 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 592.85 m 563 592.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 578.85 m 395 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 564.85 m 395 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 578.85 m 451 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 564.85 m 451 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 578.85 m 455 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 564.85 m 455 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 578.85 m 507 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 564.85 m 507 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 578.85 m 511 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 564.85 m 511 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 578.85 m 563 578.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 564.85 m 563 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 550.85 m 395 550.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 564.85 m 451 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 550.85 m 451 550.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 550.85 m 455 550.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 564.85 m 507 564.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 550.85 m 507 550.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 550.85 m 511 550.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 550.85 m 563 550.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 452.85 m 451 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 452.85 m 507 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 452.85 m 395 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 438.85 m 395 438.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 452.85 m 451 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 438.85 m 451 438.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 452.85 m 455 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 438.85 m 455 438.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 452.85 m 507 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 438.85 m 507 438.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 452.85 m 511 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 438.85 m 511 438.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 452.85 m 563 452.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 438.85 m 563 438.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 382.85 m 451 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 382.85 m 507 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 382.85 m 395 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 368.85 m 395 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 382.85 m 451 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 368.85 m 451 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 382.85 m 455 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 368.85 m 455 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 382.85 m 507 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 368.85 m 507 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 382.85 m 511 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 368.85 m 511 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 382.85 m 563 382.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 368.85 m 563 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 368.85 m 451 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 368.85 m 507 368.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 326.85 m 451 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 326.85 m 507 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 326.85 m 395 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 312.85 m 395 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 326.85 m 451 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 312.85 m 451 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 326.85 m 455 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 312.85 m 455 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 326.85 m 507 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 312.85 m 507 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 326.85 m 511 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 312.85 m 511 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 326.85 m 563 326.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 312.85 m 563 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 312.85 m 451 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 312.85 m 507 312.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 284.85 m 451 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 284.85 m 507 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 284.85 m 395 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 270.85 m 395 270.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 284.85 m 451 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 270.85 m 451 270.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 284.85 m 455 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 270.85 m 455 270.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 284.85 m 507 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 270.85 m 507 270.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 284.85 m 511 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 270.85 m 511 270.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 284.85 m 563 284.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 270.85 m 563 270.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 214.85000000000002 m 451 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 214.85000000000002 m 507 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 214.85000000000002 m 395 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 191.85000000000002 m 395 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 214.85000000000002 m 451 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 191.85000000000002 m 451 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 214.85000000000002 m 455 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 191.85000000000002 m 455 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 214.85000000000002 m 507 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 191.85000000000002 m 507 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 214.85000000000002 m 511 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 191.85000000000002 m 511 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 214.85000000000002 m 563 214.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 191.85000000000002 m 563 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 178.85000000000002 m 395 178.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 176.85000000000002 m 395 176.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 191.85000000000002 m 451 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 178.85000000000002 m 451 178.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 176.85000000000002 m 451 176.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 178.85000000000002 m 455 178.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 176.85000000000002 m 455 176.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 191.85000000000002 m 507 191.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 178.85000000000002 m 507 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0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 99.85000000000002 m 455 99.85000000000002 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 99.85000000000002 m 507 99.85000000000002 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 99.85000000000002 m 511 99.85000000000002 l s 0 0.6509803921568628 0.8862745098039215 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 99.85000000000002 m 563 99.85000000000002 l s BT /F6 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 52.50 686.64 Td (\(I) Tj ET Q BT /F3 8.00 Tf ET q 1 1 1 rg BT 56.64 686.64 Td (n millions, ) Tj ET Q BT /F6 8.00 Tf ET q 1 1 1 rg BT 97.49 686.64 Td (except share-related amounts\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 405.30 682.21 Td (3Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 461.30 682.21 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 517.30 682.21 Td (3Q 2018) Tj ET Q BT /F4 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 667.92 Td (Interest income) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 653.92 Td (Mortgage loans) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 414.95 653.92 Td ($16,428) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 470.95 653.92 Td ($17,358) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 526.95 653.92 Td ($16,787) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 639.92 Td (Investments in securities) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 639.92 Td (686) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 639.92 Td (684) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 639.92 Td (755) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 625.92 Td (Other) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 625.92 Td (426) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 625.92 Td (420) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 625.92 Td (261) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 70.50 611.92 Td (Total interest income) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.25 611.92 Td (17,540) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.25 611.92 Td (18,462) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.25 611.92 Td (17,803) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 597.92 Td (Interest expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 417.90 597.92 Td (\(15,130) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 597.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 473.90 597.92 Td (\(15,535) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 597.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 529.90 597.92 Td (\(14,546) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 597.92 Td (\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 583.92 Td (Net interest income) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 425.25 583.92 Td (2,410) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.25 583.92 Td (2,927) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.25 583.92 Td (3,257) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 569.92 Td (Benefit \(provision\) for credit losses) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 569.92 Td (179) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 569.92 Td (160) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 569.92 Td (380) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 555.92 Td (Net interest income after benefit \(provision\) for credit losses) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 425.25 555.92 Td (2,589) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.25 555.92 Td (3,087) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.25 555.92 Td (3,637) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 541.92 Td (Non-interest income \(loss\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 527.92 Td (Guarantee fee income) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 527.92 Td (231) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 527.92 Td (222) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 527.92 Td (209) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 513.92 Td (Mortgage loans gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 425.25 513.92 Td (1,702) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.25 513.92 Td (1,541) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 549.75 513.92 Td (94) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 499.92 Td (Investment securities gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 499.92 Td (164) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 499.92 Td (390) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 499.92 Td (\(443) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 499.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 485.92 Td (Debt gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 435.45 485.92 Td (\(56) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 485.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 493.75 485.92 Td (49) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 485.92 Td (158) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 471.92 Td (Derivative gains \(losses\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 422.95 471.92 Td (\(1,217) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 471.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 478.95 471.92 Td (\(2,089) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 471.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 471.92 Td (728) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 457.92 Td (Other income \(loss\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 457.92 Td (146) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 457.92 Td (209) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 549.75 457.92 Td (79) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 443.92 Td (Non-interest income \(loss\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 443.92 Td (970) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 443.92 Td (322) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 443.92 Td (825) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 429.92 Td (Non-interest expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 415.92 Td (Salaries and employee benefits) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 430.45 415.92 Td (\(333) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 415.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 415.92 Td (\(328) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 415.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 415.92 Td (\(301) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 415.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 401.92 Td (Professional services) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 430.45 401.92 Td (\(115) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 401.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 401.92 Td (\(122) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 401.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 401.92 Td (\(120) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 401.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 387.92 Td (Other administrative expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 430.45 387.92 Td (\(172) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 387.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 387.92 Td (\(169) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 387.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 387.92 Td (\(148) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 387.92 Td (\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 70.50 373.92 Td (Total administrative expense) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.10 373.92 Td (\(620) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.80 373.92 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.10 373.92 Td (\(619) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.80 373.92 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.10 373.92 Td (\(569) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 559.80 373.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 359.92 Td (Real estate owned operations expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 435.45 359.92 Td (\(58) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 359.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 491.45 359.92 Td (\(81) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 359.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 547.45 359.92 Td (\(38) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 359.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 345.92 Td (Temporary Payroll Tax Cut Continuation Act of 2011 expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 430.45 345.92 Td (\(408) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 345.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 345.92 Td (\(399) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 345.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 345.92 Td (\(375) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 345.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 331.92 Td (Other expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 430.45 331.92 Td (\(337) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 331.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 331.92 Td (\(412) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 331.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 331.92 Td (\(218) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 331.92 Td (\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 317.92 Td (Non-interest expense) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 422.95 317.92 Td (\(1,423) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 317.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 478.95 317.92 Td (\(1,511) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 317.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 534.95 317.92 Td (\(1,200) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 317.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 303.92 Td (Income \(loss\) before income tax \(expense\) benefit) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 425.25 303.92 Td (2,136) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.25 303.92 Td (1,898) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.25 303.92 Td (3,262) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 289.92 Td (Income tax \(expense\) benefit) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 430.45 289.92 Td (\(427) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 289.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.45 289.92 Td (\(392) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 289.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 289.92 Td (\(556) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 289.92 Td (\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 275.92 Td (Net income \(loss\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 425.25 275.92 Td (1,709) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.25 275.92 Td (1,506) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.25 275.92 Td (2,706) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 261.92 Td (Other comprehensive income \(loss\), net of taxes and reclassification adjustments:) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 57.00 247.92 Td ( Changes in unrealized gains \(losses\) related to available-for-sale securities) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.75 247.92 Td (124) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 247.92 Td (304) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 247.92 Td (\(169) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 247.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 233.92 Td (Changes in unrealized gains \(losses\) related to cash flow hedge relationships) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 437.75 233.92 Td (19) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 493.75 233.92 Td (20) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 549.75 233.92 Td (25) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 219.92 Td (Changes in defined benefit plans) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 440.45 219.92 Td (\(4) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 219.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 496.45 219.92 Td (\(4) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 219.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 552.45 219.92 Td (\(3) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 219.92 Td (\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 70.50 205.92 Td (Total other comprehensive income \(loss\), net of taxes and reclassification) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 70.50 196.92 Td (adjustments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.75 201.42 Td (139) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.75 201.42 Td (320) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.10 201.42 Td (\(147) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 559.80 201.42 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 182.92 Td (Comprehensive income \(loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 419.95 182.92 Td ($1,848) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.95 182.92 Td ($1,826) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.95 182.92 Td ($2,559) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 168.92 Td (Net income \(loss\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 419.95 168.92 Td ($1,709) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 475.95 168.92 Td ($1,506) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 531.95 168.92 Td ($2,706) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 154.92 Td (Undistributed net worth sweep, senior preferred stock dividends, or future) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 145.92 Td (increase in senior preferred stock liquidation preference) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 422.95 146.92 Td (\(1,848) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 447.80 146.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 478.95 146.92 Td (\(1,826) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 503.80 146.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 534.95 146.92 Td (\(2,559) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 146.92 Td (\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 52.50 132.92 Td (Net income \(loss\) attributable to common stockholders) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.15 132.92 Td ($\(139\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.15 132.92 Td ($\(320\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.45 132.92 Td ($147) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 118.92 Td (Net income \(loss\) per common share ?basic and diluted) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 420.30 118.92 Td ($\(0.04\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 476.30 118.92 Td ($\(0.10\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 536.95 118.92 Td ($0.05) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 104.92 Td (Weighted average common shares outstanding \(in millions\) ?basic and diluted) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 425.25 104.92 Td (3,234) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.25 104.92 Td (3,234) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.25 104.92 Td (3,234) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 13) Tj ET Q BT /F5 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.6509803921568628 0.8862745098039215 rg BT 49.50 723.55 Td (FREDDIE MAC) Tj ET Q BT /F9 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.4666666666666667 0.47058823529411764 0.4549019607843137 rg BT 49.50 710.35 Td (Condensed Consolidated Balance Sheets \(Unaudited\) ) Tj ET Q 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg /GS0 gs 433.00 699.85 69.00 -13.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg /GS0 gs 506.00 699.85 66.00 -13.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 686.85 379.00 -13.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 433.00 686.85 69.00 -13.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 506.00 686.85 66.00 -13.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg /GS0 gs 433.00 172.85 69.00 -13.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg /GS0 gs 506.00 172.85 66.00 -13.00 re f /GS0 gs 0 0.6509803921568628 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0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 19.850000000000023 m 572 19.850000000000023 l s BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 435.90 690.92 Td (September 30,) Tj ET Q BT /F3 9.00 Tf ET q 1 1 1 rg BT 508.75 690.92 Td (December 31,) Tj ET Q BT /F6 8.00 Tf ET q 1 1 1 rg BT 52.50 678.64 Td (\(I) Tj ET Q BT /F3 8.00 Tf ET q 1 1 1 rg BT 56.64 678.64 Td (nmillions) Tj ET Q BT /F6 8.00 Tf ET q 1 1 1 rg BT 93.04 678.64 Td (,exceptshare-relatedamounts\)) Tj ET Q BT /F3 9.00 Tf ET q 1 1 1 rg BT 456.95 677.92 Td (2019) Tj ET Q BT /F3 9.00 Tf ET q 1 1 1 rg BT 528.45 677.92 Td (2018) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 664.92 Td (Assets) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 650.92 Td (Cash and cash equivalents ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 163.25 650.92 Td (\(includes $3,560 and $596 of restricted cash and cash equivalents\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 470.95 650.92 Td ($8,708) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 540.95 650.92 Td ($7,273) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 636.92 Td (Securities purchased under agreements to resell) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 471.25 636.92 Td (51,187) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.25 636.92 Td (34,771) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 622.92 Td (Investments in securities, at fair value) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 471.25 622.92 Td (72,982) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.25 622.92 Td (69,111) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 608.92 Td (Mortgage loans held-for-sale ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 171.34 608.92 Td (\(includes $21,538 and $23,106 at fair value\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 471.25 608.92 Td (41,118) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.25 608.92 Td (41,622) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 594.92 Td (Mortgage loans held-for-investment ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 199.19 594.92 Td (\(net of allowance for loan losses of $4,854 and $6,139\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 458.75 594.92 Td (1,956,372) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 528.75 594.92 Td (1,885,356) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 580.92 Td (Accrued interest receivable) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 476.25 580.92 Td (6,790) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 546.25 580.92 Td (6,728) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 566.92 Td (Derivative assets, net) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 476.25 566.92 Td (1,592) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 553.75 566.92 Td (335) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 552.92 Td (Deferred tax assets, net) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 476.25 552.92 Td (5,784) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 546.25 552.92 Td (6,888) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 538.92 Td (Other assets ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 106.01 538.92 Td (\(includes $4,590 and $3,929 at fair value\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 471.25 538.92 Td (25,713) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.25 538.92 Td (10,976) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 58.50 524.92 Td (Total assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.45 524.92 Td ($2,170,246) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.45 524.92 Td ($2,063,060) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 510.92 Td (Liabilities and equity) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 496.92 Td (Liabilities) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 482.92 Td (Accrued interest payable) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 470.95 482.92 Td ($6,688) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 540.95 482.92 Td ($6,652) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 468.92 Td (Debt, net ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 92.02 468.92 Td (\(includes $4,600 and $5,112 at fair value\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 458.75 468.92 Td (2,149,259) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 528.75 468.92 Td (2,044,950) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 454.92 Td (Derivative liabilities, net) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 483.75 454.92 Td (355) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 553.75 454.92 Td (583) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 440.92 Td (Other liabilities) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 476.25 440.92 Td (7,270) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 546.25 440.92 Td (6,398) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 58.50 426.92 Td (Total liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.75 426.92 Td (2,163,572) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.75 426.92 Td (2,058,583) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 412.92 Td (Commitments and contingencies) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 398.92 Td (Equity) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 384.92 Td (Senior preferred stock ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 150.24 384.92 Td (\(redemption value of $77,474 and $75,648\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 471.25 384.92 Td (72,648) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.25 384.92 Td (72,648) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 370.92 Td (Preferred stock, at redemption value) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 471.25 370.92 Td (14,109) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.25 370.92 Td (14,109) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 356.92 Td (Common stock, $0.00 par value, 4,000,000,000 shares authorized, 725,863,886 shares) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 347.92 Td (issued and 650,059,033 shares and 650,058,775 shares outstanding) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 489.80 350.92 Td (? Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 350.92 Td (? Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 57.00 336.92 Td (Additional paid-in capital) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 489.80 336.92 Td (? Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 336.92 Td (? Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 322.92 Td (Retained earnings \(accumulated deficit\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 468.90 322.92 Td (\(76,780) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 498.80 322.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 538.90 322.92 Td (\(78,260) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 568.80 322.92 Td (\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 308.92 Td (AOCI, net of taxes, related to:) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 70.50 294.92 Td (Available-for-sale securities ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 183.45 294.92 Td (\(includes $243 and $221, related to net unrealized gains on ) Tj ET Q BT /F6 8.50 Tf ET q 0 0 0 rg BT 70.50 286.28 Td (securities for which other-than-temporary impairment has been recognized in earnings\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 483.75 291.92 Td (757) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 558.75 291.92 Td (83) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 70.50 274.92 Td (Cash flow hedge relationships) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 481.45 274.92 Td (\(258) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 498.80 274.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 551.45 274.92 Td (\(315) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 568.80 274.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 70.50 260.92 Td (Defined benefit plans) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.75 260.92 Td (83) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 558.75 260.92 Td (97) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 82.50 246.92 Td (Total AOCI, net of taxes) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 483.75 246.92 Td (582) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 551.45 246.92 Td (\(135) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 568.80 246.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 232.92 Td (Treasury stock, at cost, 75,804,853 shares and 75,805,111 shares) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 473.95 232.92 Td (\(3,885) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 498.80 232.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 543.95 232.92 Td (\(3,885) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 568.80 232.92 Td (\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 58.50 218.92 Td (Total equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.25 218.92 Td (6,674) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.25 218.92 Td (4,477) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 58.50 204.92 Td (Total liabilities and equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.45 204.92 Td ($2,170,246) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.45 204.92 Td ($2,063,060) Tj ET Q BT /F6 8.00 Tf ET q 0 0 0 rg BT 52.50 185.64 Td (The table below presents the carrying value and classification of the assets and liabilities of consolidated variable interest entities \(VIEs\) on the) Tj ET Q BT /F6 8.00 Tf ET q 0 0 0 rg BT 52.50 177.64 Td (company's condensed consolidated balance sheets.) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 435.90 163.92 Td (September 30,) Tj ET Q BT /F3 9.00 Tf ET q 1 1 1 rg BT 508.75 163.92 Td (December 31,) Tj ET Q BT /F3 8.00 Tf ET q 1 1 1 rg BT 52.50 151.64 Td (\(Inmillions\)) Tj ET Q BT /F3 9.00 Tf ET q 1 1 1 rg BT 456.95 150.92 Td (2019) Tj ET Q BT /F3 9.00 Tf ET q 1 1 1 rg BT 528.45 150.92 Td (2018) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 137.92 Td (Consolidated Balance Sheet Line Item) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 123.92 Td (Assets:) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 109.92 Td (Mortgage loans held-for-investment) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 453.45 109.92 Td ($1,905,633) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 523.45 109.92 Td ($1,842,850) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 95.92 Td (All other assets) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 471.25 95.92 Td (43,863) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 541.25 95.92 Td (20,237) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 81.92 Td (Total assets of consolidated VIEs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.45 81.92 Td ($1,949,496) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.45 81.92 Td ($1,863,087) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 67.92 Td (Liabilities:) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 53.92 Td (Debt, net) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 453.45 53.92 Td ($1,869,308) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 523.45 53.92 Td ($1,792,677) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 58.50 39.92 Td (All other liabilities) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 476.25 39.92 Td (5,519) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 546.25 39.92 Td (5,335) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 25.92 Td (Total liabilities of consolidated VIEs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.45 25.92 Td ($1,874,827) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.45 25.92 Td ($1,798,012) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 14) Tj ET Q BT /F5 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0.6509803921568628 0.8862745098039215 rg BT 49.50 723.55 Td (FREDDIE MAC) Tj ET Q BT /F9 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.4666666666666667 0.47058823529411764 0.4549019607843137 rg BT 49.50 710.35 Td (Non-GAAP Reconciliations ) Tj ET Q 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg /GS0 gs 50.00 645.85 513.00 -19.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 626.85 258.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 312.00 626.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 363.00 626.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 414.00 626.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 465.00 626.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 516.00 626.85 47.00 -14.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 rg /GS0 gs 50.00 393.85 513.00 -19.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 50.00 374.85 258.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 312.00 374.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 363.00 374.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 414.00 374.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 465.00 374.85 47.00 -14.00 re f /GS0 gs 0 0.6509803921568628 0.8862745098039215 rg /GS0 gs 516.00 374.85 47.00 -14.00 re f /GS0 gs 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 510.85 m 359 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 510.85 m 410 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 510.85 m 461 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 510.85 m 512 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 510.85 m 563 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 510.85 m 308 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 496.85 m 308 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 510.85 m 359 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 496.85 m 359 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 510.85 m 363 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 496.85 m 363 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 510.85 m 410 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 496.85 m 410 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 510.85 m 414 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 496.85 m 414 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 510.85 m 461 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 496.85 m 461 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 510.85 m 465 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 496.85 m 465 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 510.85 m 512 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 496.85 m 512 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 510.85 m 516 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 496.85 m 516 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 510.85 m 563 510.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 496.85 m 563 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 483.85 m 308 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 481.85 m 308 481.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 496.85 m 359 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 483.85 m 359 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 481.85 m 359 481.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 483.85 m 363 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 481.85 m 363 481.85 l s 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465 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 481.85 m 465 481.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 496.85 m 512 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 483.85 m 512 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 481.85 m 512 481.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 483.85 m 516 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 481.85 m 516 481.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 496.85 m 563 496.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 483.85 m 563 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 481.85 m 563 481.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 481.85 m 512 481.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 483.85 m 512 483.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 468.85 m 512 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 468.85 m 308 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 454.85 m 308 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 468.85 m 359 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 454.85 m 359 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 468.85 m 363 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 454.85 m 363 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 468.85 m 410 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 454.85 m 410 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 468.85 m 414 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 454.85 m 414 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 468.85 m 461 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 454.85 m 461 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 468.85 m 465 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 454.85 m 465 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 468.85 m 512 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 454.85 m 512 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 468.85 m 516 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 454.85 m 516 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 468.85 m 563 468.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 454.85 m 563 454.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 295.85 m 359 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 295.85 m 410 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 295.85 m 461 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 295.85 m 512 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 295.85 m 308 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 281.85 m 308 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 295.85 m 359 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 281.85 m 359 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 295.85 m 363 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 281.85 m 363 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 295.85 m 410 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 281.85 m 410 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 295.85 m 414 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 281.85 m 414 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 295.85 m 461 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 281.85 m 461 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 295.85 m 465 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 281.85 m 465 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 295.85 m 512 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 281.85 m 512 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 295.85 m 516 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 281.85 m 516 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 295.85 m 563 295.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 281.85 m 563 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 268.85 m 308 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 266.85 m 308 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 281.85 m 359 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 268.85 m 359 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 266.85 m 359 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 268.85 m 363 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 266.85 m 363 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 268.85 m 410 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 266.85 m 410 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 268.85 m 414 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 266.85 m 414 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 281.85 m 461 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 268.85 m 461 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 266.85 m 461 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 268.85 m 465 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 266.85 m 465 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 281.85 m 512 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 268.85 m 512 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 266.85 m 512 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 268.85 m 516 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 266.85 m 516 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 281.85 m 563 281.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 268.85 m 563 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 266.85 m 563 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 266.85 m 308 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 268.85 m 308 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 266.85 m 359 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 268.85 m 359 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 253.85000000000002 m 359 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 266.85 m 410 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 268.85 m 410 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 253.85000000000002 m 410 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 266.85 m 461 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 268.85 m 461 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 266.85 m 512 266.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 268.85 m 512 268.85 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 253.85000000000002 m 512 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 253.85000000000002 m 308 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 239.85000000000002 m 308 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 253.85000000000002 m 359 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 239.85000000000002 m 359 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 253.85000000000002 m 363 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 239.85000000000002 m 363 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 253.85000000000002 m 410 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 239.85000000000002 m 410 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 253.85000000000002 m 414 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 239.85000000000002 m 414 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 253.85000000000002 m 461 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 239.85000000000002 m 461 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 253.85000000000002 m 465 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 239.85000000000002 m 465 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 253.85000000000002 m 512 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 239.85000000000002 m 512 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 253.85000000000002 m 516 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 239.85000000000002 m 516 239.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 253.85000000000002 m 563 253.85000000000002 l s 0.5333333333333333 0.7411764705882353 0.27058823529411763 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 239.85000000000002 m 563 239.85000000000002 l s BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 690.21 Td (The companys GAAP net interest income includes the spread earned on its investments activities plus the) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 680.21 Td (guarantee fees earned by its single-family business. Adjusted net interest income is the net spread earned on the) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 670.21 Td (companys investment activities, including the cost of funds associated with using derivatives. Net interest yield,) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 660.21 Td (GAAP and adjusted, is calculated as annualized quarterly GAAP or adjusted net interest income divided by the) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 650.21 Td (average balance of the underlying assets and liabilities.) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 103.10 634.21 Td (Reconciliation of GAAP Net Interest Income to Adjusted Net Interest Income \(pre-tax\)) Tj ET Q BT /F6 8.00 Tf ET q 1 1 1 rg BT 52.50 617.64 Td (\(Dollars in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 315.80 617.21 Td (3Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 366.80 617.21 Td (4Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 417.80 617.21 Td (1Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 470.10 617.21 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 521.10 617.21 Td (3Q 2019) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 603.92 Td (GAAP net interest income) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.95 603.92 Td ($3,257) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.95 603.92 Td ($2,743) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.95 603.92 Td ($3,153) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.95 603.92 Td ($2,927) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.95 603.92 Td ($2,410) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 589.92 Td (Reclassifications:) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 575.92 Td (Guarantee fee income reclassified to adjusted guarantee fee ) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 566.92 Td (income ) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 84.51 570.07 Td (\(1\)\(2\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 328.30 575.92 Td (\(2,052\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 381.95 575.92 Td (\(2,022) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 406.80 575.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.95 575.92 Td (\(2,022) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 457.80 575.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 483.95 575.92 Td (\(2,288) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 508.80 575.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 534.95 575.92 Td (\(2,485) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 575.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 552.92 Td (Accrual of periodic cash settlements reclassified from ) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 543.92 Td (derivative gain \(loss\)) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 134.00 547.07 Td ( \(3\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 345.45 552.92 Td (27) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 396.75 552.92 Td (20) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 445.45 552.92 Td (\(54) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 457.80 552.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 496.45 552.92 Td (\(42) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 508.80 552.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 547.45 552.92 Td (\(47) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 552.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 529.92 Td (Hedge accounting impact ) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 158.86 533.07 Td (\(4\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 345.45 529.92 Td (34) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 391.75 529.92 Td (310) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 440.45 529.92 Td (\(267) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 457.80 529.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 498.75 529.92 Td (13) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 529.92 Td (517) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 515.92 Td (Other reclassifications) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 141.67 519.07 Td ( \(5\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 335.80 515.92 Td (\(141\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 401.45 515.92 Td (6) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 442.75 515.92 Td (195) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 493.75 515.92 Td (403) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 544.75 515.92 Td (394) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 64.50 501.92 Td (Total reclassifications) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 328.30 501.92 Td (\(2,132\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 379.30 501.92 Td (\(1,686\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 432.95 501.92 Td (\(2,148) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 457.80 501.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 483.95 501.92 Td (\(1,914) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 508.80 501.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 534.95 501.92 Td (\(1,621) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 501.92 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 487.92 Td (Adjusted net interest income) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.95 487.92 Td ($1,125) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.95 487.92 Td ($1,057) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.95 487.92 Td ($1,005) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.95 487.92 Td ($1,013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.45 487.92 Td ($789) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 473.92 Td (Average balance of assets and liabilities, GAAP \(in billions\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 327.95 473.92 Td ($2,034) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 378.95 473.92 Td ($2,042) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 429.95 473.92 Td ($2,062) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 480.95 473.92 Td ($2,089) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 531.95 473.92 Td ($2,120) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 459.92 Td (Average balance of assets and liabilities, adjusted \(in billions\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 335.45 459.92 Td ($314) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 386.45 459.92 Td ($294) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 437.45 459.92 Td ($293) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.45 459.92 Td ($303) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 539.45 459.92 Td ($311) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 439.21 Td (GAAP guarantee fees are primarily those generated by the company's multifamily business. Adjusted guarantee) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 429.21 Td (fee income consists of the revenues from guarantee fees from both the single-family and multifamily businesses,) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 419.21 Td (net of the 10 basis point guarantee fee remitted to Treasury as part of the Temporary Payroll Tax Cut Continuation) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 409.21 Td (Act of 2011. Guarantee fee rate, GAAP and adjusted, is calculated as annualized quarterly GAAP or adjusted) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 52.50 399.21 Td (guarantee fee income divided by the average underlying guarantee portfolio.) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 1 1 rg BT 89.70 382.21 Td (Reconciliation of GAAP Guarantee Fee Income to Adjusted Guarantee Fee Income \(pre-tax\)) Tj ET Q BT /F6 8.00 Tf ET q 1 1 1 rg BT 52.50 365.64 Td (\(Dollars in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 315.80 365.21 Td (3Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 366.80 365.21 Td (4Q 2018) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 417.80 365.21 Td (1Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 470.10 365.21 Td (2Q 2019) Tj ET Q BT /F3 10.00 Tf ET q 1 1 1 rg BT 521.10 365.21 Td (3Q 2019) Tj ET Q BT /F3 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 52.50 351.92 Td (GAAP guarantee fee income) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.45 351.92 Td ($209) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 386.45 351.92 Td ($208) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 437.45 351.92 Td ($217) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.45 351.92 Td ($222) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.45 351.92 Td ($231) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 337.92 Td (Reclassifications:) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 323.92 Td (Guarantee fee income reclassified from net interest income ) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 291.29 327.07 Td (\(1\)\(2\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 332.95 323.92 Td (2,052) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 384.25 323.92 Td (2,022) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 435.25 323.92 Td (2,022) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.25 323.92 Td (2,288) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.25 323.92 Td (2,485) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 309.92 Td (Temporary Payroll Tax Cut Continuation Act of 2011 expense ) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 300.92 Td (reclassified from other non-interest expense) Tj ET Q BT /F6 9.00 Tf ET BT /F6 5.40 Tf ET q 0 0 0 rg BT 228.93 304.07 Td ( \(6\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 335.80 309.92 Td (\(375\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 389.45 309.92 Td (\(384) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 406.80 309.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 440.45 309.92 Td (\(390) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 457.80 309.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 491.45 309.92 Td (\(399) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 508.80 309.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 542.45 309.92 Td (\(408) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 559.80 309.92 Td (\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 64.50 286.92 Td (Total reclassifications) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 332.95 286.92 Td (1,677) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 383.95 286.92 Td (1,638) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 435.25 286.92 Td (1,632) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 486.25 286.92 Td (1,889) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 537.25 286.92 Td (2,077) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 272.92 Td (Adjusted guarantee fee income) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.95 272.92 Td ($1,886) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.95 272.92 Td ($1,846) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.95 272.92 Td ($1,849) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.95 272.92 Td ($2,111) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.95 272.92 Td ($2,308) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 258.92 Td (Average guarantee portfolio balance, GAAP \(in billions\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 335.45 258.92 Td ($223) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 386.45 258.92 Td ($232) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 437.45 258.92 Td ($240) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 488.45 258.92 Td ($246) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 539.45 258.92 Td ($255) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 52.50 244.92 Td (Average guarantee portfolio balance, adjusted \(in billions\)) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 327.95 244.92 Td ($2,088) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 378.95 244.92 Td ($2,117) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 429.95 244.92 Td ($2,145) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 480.95 244.92 Td ($2,171) Tj ET Q BT /F6 9.00 Tf ET q 0 0 0 rg BT 531.95 244.92 Td ($2,203) Tj ET Q BT /F1 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 227.15 Td (Columns may not add due to rounding.) Tj ET Q BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 210.35 Td (For notes on reclassifications, see page 15 of this press release.) Tj ET Q BT /F6 7.00 Tf ET q 0 0 0 rg BT 220.61 210.35 Td (? Tj ET Q BT /F10 9.00 Tf ET q 0 0 0 rg BT 222.56 210.35 Td () Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 773.10 Td (Freddie Mac Third Quarter 2019 Financial Results ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 762.30 Td (October 30, 2019) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 50.00 751.50 Td (Page 15) Tj ET Q BT /F6 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 49.5 725.4 m 217.3427734375 725.4 l s q 0 0 0 rg BT 49.50 726.40 Td (Notes on Significant Reclassifications) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 711.90 Td (\(1\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 55.94 708.40 Td ( Net guarantee fees, including upfront fee amortization and implied guarantee fee income related to unsecuritized ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 696.40 Td (loans held in the mortgage-related investments portfolio, are reclassified from GAAP net interest income to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 684.40 Td (adjusted guarantee fee income.) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 669.90 Td (\(2\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 55.94 666.40 Td ( Short-term returns on cash received related to certain upfront fees on single-family loans are reclassified from ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 654.40 Td (GAAP net interest income to adjusted guarantee fee income.) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 639.90 Td (\(3\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 55.94 636.40 Td ( The accrual of periodic cash settlements of derivatives is reclassified from GAAP derivative gains \(losses\) to ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 624.40 Td (adjusted net interest income to fully reflect the periodic cost associated with the protection provided by these ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 612.40 Td (contracts.) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 597.90 Td (\(4\)) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 55.94 594.40 Td ( ) Tj ET Q BT /F6 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 58.72 594.40 Td (Hedge accounting impact consists of removing the effects of hedge accounting including deferred gains and ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 582.40 Td (losses on closed cash flow hedges related to forecasted debt issuances.) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 567.90 Td (\(5\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 55.94 564.40 Td ( Other reclassifications primarily relate to items reclassified out of GAAP net interest income, including the ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 552.40 Td (amortization related to derivative commitment basis adjustments associated with mortgage-related and non-) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 540.40 Td (mortgage-related securities, amortization related to accretion of other-than-temporary impairments on available-) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 528.40 Td (for-sale securities, amortization of discounts on loans purchased with deteriorated credit quality that are on ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 516.40 Td (accrual status, amortization related to premiums and discounts, including non-cash premiums and discounts, on ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 504.40 Td (single-family loans in trusts and on the associated consolidated PCs, amortization related to premiums and ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 492.40 Td (discounts associated with PCs issued by consolidated trusts that were previously held and subsequently ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 480.40 Td (transferred to third parties, costs associated with STACR debt note expenses, and internally allocated costs ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 468.40 Td (associated with the refinancing of debt related to Multifamily segment held-for-investment loans which were ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 456.40 Td (securitized.) Tj ET Q BT /F6 10.00 Tf ET BT /F6 6.00 Tf ET q 0 0 0 rg BT 49.50 441.90 Td (\(6\)) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 55.94 438.40 Td ( The expense related to the Temporary Payroll Tax Cut Continuation Act of 2011 is reclassified from GAAP other ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 426.40 Td (non-interest expense to adjusted guarantee fee income. As a result of the reclassification, the revenue and ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 58.50 414.40 Td (expense related to the legislated 10 basis point increase are netted within adjusted guarantee fee income.) Tj ET Q endstream endobj 33 0 obj <> /View <>>>>> endobj 34 0 obj <> /View <>>>>> endobj 35 0 obj <> endobj 36 0 obj <> stream xy\E?~nM{{wޑ?d??2? HaG?PPA!"???b???h??TLy??uk?uΩo?H""??W?~.Xv?&rm 2\jMgwm'Cڴzl?ycǏ\ rBj?x?\DsV@?{twocmC{Iwl???1zh?1m!t-\q3D?.:yz'Wp[_F=??E"Ǣ?|K&_~?!??wn-az3¦h??V,?2bOo_eSFLlk}Fg[F>|??)EO?ii-ž%7??y??sO$p?oHn3?i@֫X?|?%?-6m5x<|'lC s~?d? r5?]ifx?9ZBT Ʒ㽶Ƶ-㽶Ƶ޴ιۿ-ɧƵ