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Supplementary Tables for Credit Programs

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Table of Contents Page Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ii Supplementary Tables for Credit Programs Table 1 - Direct Loans: Subsidy Rates, Obligations, and Average Loan Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Table 2 - Loan Guarantees: Subsidy Rates, Commitments, and Average Loan Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Table 3 - Direct Loans: Assumptions Underlying the 2007 Subsidy Estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Table 4 - Loan Guarantees: Assumptions Underlying the 2007 Subsidy Estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Table 5 - Direct Loans: Assumptions Underlying the 2008 Subsidy Estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Table 6 - Loan Guarantees: Assumptions Underlying the 2008 Subsidy Estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Table 7 - Direct Loans: Subsidy Reestimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Table 8 - Loan Guarantees: Subsidy Reestimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Table 9 - Direct Loan Program Disbursement Rates in the 2008 Budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 Table 10 - Loan Guarantee Program Disbursement Rates in the 2008 Budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 i Introduction The 2008 Federal Credit Supplement provides summary information about Federal direct loan and loan guarantee programs subject to the Federal Credit Reform Act (FCRA) of 1990, as amended by the Balanced Budget Act of 1997. The credit activities of deposit insurance and other insurance programs are exempt from FCRA and do not appear in this Supplement. Tables 1 and 2 provide 2007 and 2008 subsidy rates, obligations/commitments, and average loan size for direct loans and loan guarantees programs, as well as the program’s BEA classification under the Budget Enforcement Act (BEA) of 1990 as discretionary or mandatory (see the "Budget System and Concepts" chapter in the Analytical Perspectives volume of the 2008 Budget for additional information about BEA categories). Tables 3 and 4 provide information about the major components of 2007 subsidy rates and about the characteristics of direct and guaranteed loans, respectively. Tables 5 and 6 provide the same information for direct and guaranteed loans included in the President’s 2008 budget request. The four components of the subsidy (defaults, net of recoveries; interest; fees; and all other) are reported on a present value basis, the sum of which equals the estimated subsidy rate. Loan characteristics describe the terms of the loan agreement between the borrower and the agency or lender. Except for loan maturity and grace period, which are expressed in years, all characteristics are expressed as a percentage. Grace period may be for repayment of principal and/or interest. Tables 7 and 8 provide information on the lifetime reestimates of 1992-2006 direct loan and loan guarantee cohorts, by agency, program, bureau and risk category. The tables show, for each cohort, the original subsidy rate used at the point of obligation or commitment, the current reestimated subsidy rate, the breakout between the interest and technical portions of the subsidy reestimate, and the total dollar amount of the reestimate. Some cohorts displayed in this year’s Supplement have closed, i.e., there are no outstanding direct or guaranteed loans in the cohort and no further activity is expected. These cohorts are identified in a footnote and will not be displayed in future Supplements. The printed version of the 2008 Supplement contains abbreviated versions of tables 7 and 8, showing only the five most recent cohorts for each program. All cohorts appear for programs that have five or fewer cohorts. The full versions of tables 7 and 8 include all open cohorts for each program, and are available in the electronic version of the Supplement at http://www.budget.gov/budget. Tables 9 and 10 show the rate at which the 2008 cohorts of direct loans and guaranteed loans are expected to disburse. ii Table 1.—DIRECT LOANS: SUBSIDY RATES, OBLIGATIONS, AND AVERAGE LOAN SIZE (in thousands of dollars, unless noted otherwise) 2007 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Obligations Average loan size Subsidy rate (percent) 2008 Obligations Average loan size Department of Agriculture Farm Service Agency:1 Agricultural Credit Insurance Fund: Farm Operating ................................................................................................................................................ Indian Land Acquisition ................................................................................................................................... Emergency Disaster ......................................................................................................................................... Boll Weevil Eradication .................................................................................................................................... Farm Ownership .............................................................................................................................................. Farm Storage Facility Loan Program .................................................................................................................. Sugar Storage Facility Loan Program ................................................................................................................. Rural Community Advancement Program: Community Facility Loans ............................................................................................................................... Water and Waste Disposal Loans .................................................................................................................. Rural Utilities Service: Distance Learning and Telemedicine Loans ....................................................................................................... Broadband Treasury Loans ................................................................................................................................. Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans .............................................................................................................................. Municipal Electric Loans ............................................................................................................................. FFB Electric Loans ...................................................................................................................................... Treasury Electric Loans .............................................................................................................................. Telephone: Telecommunication Hardship Loans ........................................................................................................... FFB Telecommunications Loans ................................................................................................................. Treasury Telecommunication Loans ........................................................................................................... FFB Guaranteed Underwriting ............................................................................................................................. Rural Housing Service: Rural Housing Insurance Fund: Single-Family Housing Credit Sales ................................................................................................................ Multi-Family Housing Credit Sales .................................................................................................................. Section 502 Single-Family Housing ................................................................................................................ Section 504 Housing Repair ........................................................................................................................... Sec 515 Multi-Family Housing ........................................................................................................................ Section 523 Self-Help Site Development ....................................................................................................... Section 524 Site Development ........................................................................................................................ Section 514 Farm Labor Housing ....................................................................................................................... Multi-family Housing Relending Program ............................................................................................................ Rural Business — Cooperative Service: Intermediary Relending Program ......................................................................................................................... Rural Economic Development Loans .................................................................................................................. Discretionary Discretionary Discretionary Discretionary Discretionary Mandatory Mandatory Discretionary Discretionary Discretionary Discretionary 11.69 21.15 11.77 1.90 4.19 0.38 ¥2.71 6.41 9.96 0.63 2.15 649,191 3,960 60,000 59,400 222,750 71,000 2,500 235,278 737,262 155,760 998,535 45 990 67 3,960 128 50 1,250 774 1,273 12.69 3.15 11.15 ¥0.27 4.45 2 1.01 0.98 5.55 14.20 629,595 3,960 60,000 59,400 223,857 90,000 2,500 302,414 1,080,239 43 990 72 3,960 128 50 1,250 831 1,367 4,581 ...................... ...................... ...................... 24,963 2.15 300,000 27,273 Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary 2.14 1.51 ¥1.19 ...................... 0.37 ¥1.49 0.03 ¥0.44 99,019 99,007 3,000,000 990,000 143,514 299,000 246,667 500,000 19,804 0.12 100,000 20,000 7,616 ...................... ...................... ...................... 83,333 ¥0.70 4,000,000 90,909 17,964 ...................... ...................... ...................... 13,047 0.08 145,000 13,182 14,238 0.62 295,000 14,750 16,444 0.67 250,000 17,857 500,000 ...................... ...................... ...................... Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary 0.48 45.33 10.03 29.55 45.67 2.47 ¥1.66 47.95 47.82 44.07 21.84 10,000 1,246 1,274,750 80,420 90,378 1,894 5,045 10,971 2,070 33,063 23,064 47 415 111 7 508 947 1,682 914 2,070 719 614 ¥1.15 37.14 ...................... 28.27 ...................... ...................... ¥0.79 43.26 ...................... 42.89 22.59 10,000 1,408 ...................... 22,854 ...................... ...................... 5,045 13,520 ...................... 33,772 33,076 50 469 ...................... 7 ...................... ...................... 1,682 1,040 ...................... 772 660 1 Table 1.—DIRECT LOANS: SUBSIDY RATES, OBLIGATIONS, AND AVERAGE LOAN SIZE—Continued (in thousands of dollars, unless noted otherwise) 2007 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Obligations Average loan size Subsidy rate (percent) 2008 Obligations Average loan size Department of Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans ....................................................................................................................... Traditional Direct Loans ................................................................................................................................... New England Lobster Buyback ....................................................................................................................... Department of Defense Family Housing: Military Housing Improvement Fund .................................................................................................................... Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations .......................................................................................................... Weighted Average of Total Obligations (Legislative Proposal) ...................................................................... Subsidized Stafford .......................................................................................................................................... Subsidized Stafford (Legislative Proposal) ..................................................................................................... Unsubsidized Stafford ...................................................................................................................................... Unsubsidized Stafford (Legislative Proposal) ................................................................................................. PLUS ................................................................................................................................................................ PLUS (Legislative Proposal) ............................................................................................................................ Consolidated ..................................................................................................................................................... Consolidated (Legislative Proposal) ................................................................................................................ Office of Postsecondary Education: Historically Black College and University Capital Financing Program ............................................................... Historically Black College and University Hurricane Supplemental ................................................................... Department of Health and Human Services Centers for Medicare and Medicaid Services: Health Care Infrastructure Improvement ............................................................................................................. Department of Homeland Security Federal Emergency Management Agency: State Share Loans ............................................................................................................................................... Community Disaster Loans .................................................................................................................................. Department of State Bureau of Consular Affairs: Repatriation Loans ............................................................................................................................................... Department of Transportation Federal Highway Administration: Transportation Infrastructure Finance and Innovation: TIFIA Direct Loans ........................................................................................................................................... Discretionary 60.14 1,127 1 60.22 1,126 1 Discretionary Discretionary 1.18 25,000 12,500 93.40 ...................... ...................... 1.73 25,000 12,500 93.30 ...................... ...................... Mandatory 100.00 1,000 1,000 ...................... ...................... ...................... Discretionary 28.40 882,546 110,318 26.38 232,654 116,327 Discretionary Discretionary Discretionary ¥8.08 ¥8.01 4.32 5,000 59,000 11,452 132 ¥10.58 8,000 211 2,950 ...................... ...................... ...................... 11,452 ...................... ...................... ...................... Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Discretionary Mandatory 2.43 ...................... 11.06 ...................... ¥7.60 ...................... ¥4.91 ...................... 7.04 ...................... ...................... 76.14 19,503,180 ...................... 6,556,592 ...................... 5,812,391 ...................... 2,606,220 ...................... 4,527,977 ...................... 75,000 235,000 6 ...................... 4 ...................... 5 ...................... 10 ...................... 22 ...................... 2.37 2.35 11.56 11.46 ¥7.12 ¥7.13 ¥4.90 ¥5.66 5.56 5.67 21,102,583 21,636,043 6,974,415 7,321,029 6,226,176 6,360,622 2,888,281 2,888,281 5,013,711 5,066,111 6 6 4 4 5 5 11 11 23 23 25,000 ...................... ...................... ...................... 78,333 ...................... ...................... ...................... Discretionary 5.00 2,200,000 550,000 5.00 1,381,000 345,250 2 Table 1.—DIRECT LOANS: SUBSIDY RATES, OBLIGATIONS, AND AVERAGE LOAN SIZE—Continued (in thousands of dollars, unless noted otherwise) 2007 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) 5.58 ...................... Obligations Average loan size 100,000 Subsidy rate (percent) 5.00 2008 Obligations Average loan size 100,000 40,000 TIFIA Lines of Credit ....................................................................................................................................... Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Program ........................................................................... Department of Treasury Community Development Financial Institutions: Community Development Financial Institutions Fund ......................................................................................... Department of Veterans Affairs Benefits Programs: Acquired Loans .................................................................................................................................................... Vendee Loans ...................................................................................................................................................... Native American Veteran Housing Loans ........................................................................................................... Vocational Rehabilitation Loan Fund ................................................................................................................... Veterans Health Administration: Transitional Housing for Homeless Veterans ...................................................................................................... International Assistance Programs Overseas Private Investment Corporation: OPIC Direct Loans ............................................................................................................................................... Small Business Administration General Business Loan Programs: Section 7(m) Microloans ...................................................................................................................................... Disaster Loan Program: Disaster Assistance .............................................................................................................................................. Other Independent Agencies Export-Import Bank of the United States: Long and Medium Term Loans (including Tied Aid) .......................................................................................... 1 2 Discretionary Discretionary 200,000 200,000 200,000 600,000 20,000 ...................... Discretionary 37.47 3,000 429 37.52 2,000 400 Mandatory Mandatory Mandatory Discretionary Discretionary 10.43 ¥3.46 ¥13.46 2.00 209,855 124,777 3,582 2,650 73 105 119 1 8.84 ¥1.59 ¥14.48 2.16 72.10 196,708 329,907 3,668 3,287 11,515 75 114 122 1 5,758 ...................... ...................... ...................... Discretionary 2.74 350,000 3,889 3.22 500,000 5,000 Discretionary Discretionary 10.21 17.73 20,900 2,659,000 454 ...................... 27 16.27 25,000 1,064,000 446 28 Discretionary 34.00 50,000 25,000 33.01 50,000 25,000 Subsidy estimates are based on total cash receipts curves. Default component includes net expected inflows and outflows where insufficient data is available to identify the source. Does not match the rate published in the Appendix, but is the correct rate and will be used for execution. 3 Table 2.—LOAN GUARANTEES: SUBSIDY RATES, COMMITMENTS, AND AVERAGE LOAN SIZE (in thousands of dollars, unless noted otherwise) 2007 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Commitments Average loan size Subsidy rate (percent) 2008 Commitments Average loan size Department of Agriculture Farm Service Agency: CCC Export Loan Guarantees: GSM 102 .......................................................................................................................................................... Facilities ............................................................................................................................................................ Supplier Credit ................................................................................................................................................. Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ....................................................................................................................... Farm Operating—Subsidized ........................................................................................................................... Farm Ownership—Unsubsidized ..................................................................................................................... Rural Community Advancement Program: Business and Industry Loans .............................................................................................................................. Community Facility Loans .................................................................................................................................... Water and Waste Disposal Loans ....................................................................................................................... Rural Housing Service: Rural Housing Insurance Fund: Section 502 Single-Family Housing Purchase ................................................................................................ Section 502 Single-Family Housing Purchase (Legislative Proposal) ........................................................... Section 502 Single-Family Housing Refinance ............................................................................................... 538 Multi-Family Housing—Subsidized ........................................................................................................... Rural Business Cooperative Services: Renewable Energy ............................................................................................................................................... Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments ...................................................................................................... Weighted Average of Total Commitments (Legislative Proposal) ................................................................. Subsidized Stafford .......................................................................................................................................... Subsidized Stafford (Legislative Proposal) ..................................................................................................... Unsubsidized Stafford ...................................................................................................................................... Unsubsidized Stafford (Legislative Proposal) ................................................................................................. PLUS ................................................................................................................................................................ PLUS (Legislative Proposal) ............................................................................................................................ Consolidated ..................................................................................................................................................... Consolidated (Legislative Proposal) ................................................................................................................ Department of Energy Energy Programs: Title 17 Innovative Technology Loan Guarantees .............................................................................................. Discretionary ...................... ...................... ...................... ...................... 9,000,000 300,000 Mandatory Mandatory Mandatory Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary 1,964,000 1,050 26,000 1,733 1 0.34 ...................... ...................... 1 4.55 3.04 2.39 ¥0.05 5.60 2.42 13.34 0.40 4.32 3.68 ¥0.82 2,214,000 26,000 200,000 1,000,000 250,000 1,200,000 1,000,000 210,000 75,000 1,163 2,000 215 177 202 299 2,645 2,658 1,014 2.47 10.07 0.58 4.36 3.66 ¥0.90 1,151,000 272,250 1,201,000 1,096,282 20,495 75,000 166 193 297 2,463 2,562 938 Discretionary Discretionary Discretionary Discretionary Discretionary 1.21 4,687,940 111 ...................... ...................... ...................... 0.50 246,925 99 7.74 62,998 1,340 6.49 154,083 1,511 1.20 0.20 0.81 9.40 9.69 797,917 4,787,500 61,111 200,000 195,469 119 119 107 1,449 1,615 Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory 6.65 ...................... 18.03 ...................... 0.01 ...................... ¥0.28 ...................... 5.22 ...................... 88,062,022 ...................... 24,839,796 ...................... 25,819,102 ...................... 10,425,054 ...................... 26,978,070 ...................... 6 5.16 ...................... 3.88 4 18.14 ...................... 17.33 5 ¥0.01 ...................... ¥0.95 12 ...................... ...................... ¥0.55 27 0.65 ...................... ¥1.82 98,467,702 99,480,606 26,863,115 27,564,977 28,031,135 28,324,757 11,560,023 11,560,023 32,013,429 32,030,849 7 7 4 4 5 5 13 13 28 28 5 Table 2.—LOAN GUARANTEES: SUBSIDY RATES, COMMITMENTS, AND AVERAGE LOAN SIZE—Continued (in thousands of dollars, unless noted otherwise) 2007 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Commitments Average loan size Subsidy rate (percent) 2008 Commitments Average loan size Department of Health and Human Services Health Resources and Services Administration: Health Centers Loan Guarantees: Health Facilities Construction Loans ............................................................................................................... Department of Housing and Urban Development Public and Indian Housing Programs: Indian Housing Loan Guarantees ........................................................................................................................ Title VI Indian Housing Guarantees .................................................................................................................... Native Hawaiian Housing Loan Guarantees ....................................................................................................... Community Planning and Development: Community Development Loan Guarantees (Section 108) ................................................................................ Housing Programs: FHA General and Special Risk Insurance Fund: Multifamily Development .................................................................................................................................. Multifamily Development (Legislative Proposal) ............................................................................................. Section 221(d)(3) Cooperatives ....................................................................................................................... Tax Credit New Construction .......................................................................................................................... Apartment Refinance ....................................................................................................................................... Apartment Refinance (Legislative Proposal) ................................................................................................... Section 241 Supplemental Loans ................................................................................................................... Multifamily Operating Loss Loans ................................................................................................................... Housing Finance Authority Risk Sharing ........................................................................................................ GSE Risk Sharing ............................................................................................................................................ Health Care and Nursing Homes .................................................................................................................... Health Care Refinance .................................................................................................................................... Hospitals ........................................................................................................................................................... Other Rental ..................................................................................................................................................... Section 234 Condominiums ............................................................................................................................. Section 234 Condominiums (Legislative Proposal) ........................................................................................ Section 203(k) Rehabilitation Mortgage .......................................................................................................... Section 203(k) Rehabilitation Mortgage (Legislative Proposal) ..................................................................... Home Equity Conversion Mortgages .............................................................................................................. Title I Property Improvement ........................................................................................................................... Title I Manufactured Housing .......................................................................................................................... FHA Mutual Mortgage Insurance Fund: Mutual Mortgage Insurance Program .............................................................................................................. Mutual Mortgage Insurance Program (Legislative Proposal) ......................................................................... Mutual Mortgage Insurance Program-HECM (Legislative Proposal) ............................................................. Government National Mortgage Association: Guarantees of Mortgage-Backed Securities ........................................................................................................ Guarantees of Mortgage-Backed Securities (Legislative Proposal) ................................................................... Discretionary Discretionary Discretionary Discretionary 2.35 11.99 2.35 2.17 251,000 17,000 43,000 138,000 118 2,529 160 2.42 12.12 2.42 367,000 17,000 41,504 118 2,529 160 Discretionary 1 3.42 8,000 1,600 ...................... ...................... ...................... 5,111 ...................... ...................... ...................... Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary ¥0.61 ...................... 6.31 ¥2.78 ¥1.63 ...................... 3.93 1 16.55 ¥0.68 ¥0.89 ¥2.42 ¥0.91 ¥1.83 ¥1.56 ¥1.49 ...................... 0.31 ...................... ¥2.82 0.97 0.83 707,000 ...................... 51,000 928,000 2,441,000 ...................... 4,300 2,200 149,000 9,000 312,000 2,180,000 900,000 130,000 3,224,000 ...................... 421,000 ...................... 8,939,000 43,496 58,638 12,625 ¥0.83 848,000 12,471 ...................... ¥2.02 848,000 12,471 10,200 5.67 102,000 10,200 5,395 ¥3.20 1,091,000 5,348 3,790 ¥2.75 2,563,000 3,786 ...................... ¥4.09 2,563,000 3,786 1,433 2.99 6,500 1,300 733 15.43 3,300 660 6,773 ¥1.25 156,000 6,783 1,800 ¥1.42 11,000 1,833 11,556 ¥0.68 339,000 9,971 5,924 ¥1.58 3,069,000 5,948 75,000 ¥2.66 900,000 75,000 28,889 ¥1.82 324,000 16,200 147 ¥0.88 3,418,604 147 ...................... ...................... ...................... ...................... 78 1.89 446,000 20 ...................... ...................... ...................... ...................... 242 ...................... ...................... ...................... 28 0.53 43,496 28 19 0.13 58,638 19 ¥0.01 ¥0.60 ¥1.35 ¥0.21 ¥0.27 39,705,000 56,996,000 25,000,000 77,400,000 77,400,000 130 145 87 160 160 ¥0.37 44,418,000 130 ...................... ...................... ...................... ...................... ...................... ...................... ¥0.21 86,000,000 156 ...................... ...................... ...................... 6 Table 2.—LOAN GUARANTEES: SUBSIDY RATES, COMMITMENTS, AND AVERAGE LOAN SIZE—Continued (in thousands of dollars, unless noted otherwise) 2007 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Commitments Average loan size Subsidy rate (percent) 2008 Commitments Average loan size Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loan Program ....................................................................................................................... Indian Insured Loan Program .............................................................................................................................. Department of Transportation Office of the Secretary: Minority Business Resource Center .................................................................................................................... Federal Highway Administration: TIFIA Loan Guarantees ....................................................................................................................................... Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Guaranteed Loans ........................................................... Maritime Administration: Maritime Guaranteed Loan Program: Weighted Average ........................................................................................................................................... Risk Category Level 3 ..................................................................................................................................... Risk Category Level 4 ..................................................................................................................................... Risk Category Level 5 ..................................................................................................................................... Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................................................................................................. International Assistance Programs Agency for International Development: Development Credit Authority (DCA): DCA .................................................................................................................................................................. DCA Line of Credit .......................................................................................................................................... Loan Guarantees to Israel ................................................................................................................................... Overseas Private Investment Corporation: OPIC Loan Guarantees ....................................................................................................................................... OPIC Investment Funds ....................................................................................................................................... Small Business Administration General Business Loan Programs: 7(a) General Business Loans .............................................................................................................................. Section 504 Certified Development Companies Debentures ............................................................................. SBIC Debentures ................................................................................................................................................. Secondary Market Guarantee .............................................................................................................................. Discretionary Discretionary Discretionary Discretionary ...................... ...................... ...................... ...................... 17,500,000 7,500,000 3,000,000 12,000,000 152 501 18,987 8,664 ...................... ...................... ...................... ...................... 17,500,000 7,500,000 3,000,000 12,000,000 145 582 18,987 8,602 Mandatory ¥0.36 28,260,360 157 ¥0.37 29,104,463 162 Discretionary Discretionary Discretionary 1.82 3.90 18,367 200,000 367 100,000 2.03 5.90 18,367 200,000 100,000 510 100,000 20,000 Discretionary Discretionary 6.45 6.45 82,377 5,000 1,098 200 6.56 4.14 84,506 1,000 939 250 ...................... ...................... ...................... ...................... Discretionary Discretionary Discretionary Discretionary 5.93 4.31 6.08 8.79 67,000 23,000 33,000 11,000 16,750 23,000 16,500 11,000 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... Discretionary Discretionary Discretionary Discretionary Discretionary 5.45 110,000 2,895 4.88 ...................... ...................... ...................... 24.40 ...................... 1,000,000 1,000,000 ...................... 2.00 ¥4.11 450,000 500,000 15,000 100,000 2.74 ¥3.94 328,000 20,000 1,000,000 450,000 500,000 3,859 1,250 1,000,000 15,000 100,000 7 Table 2.—LOAN GUARANTEES: SUBSIDY RATES, COMMITMENTS, AND AVERAGE LOAN SIZE—Continued (in thousands of dollars, unless noted otherwise) 2007 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Commitments Average loan size Subsidy rate (percent) 2008 Commitments Average loan size Other Independent Agencies Export-Import Bank of the United States: Short, Medium, and Long Term Guarantees and Insurance Program: Risk Category A ............................................................................................................................................... Risk Category B ............................................................................................................................................... 1 Discretionary Discretionary 2.60 ¥1.72 6,551,000 9,309,000 4,540 4,539 1.37 ¥3.06 4,671,000 14,043,000 4,539 4,539 Does not match the rate published in the Appendix, but is the correct rate and will be used for execution. 8 Table 3.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2007 SUBSIDY ESTIMATES (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Department of Agriculture Farm Service Agency:3 Agricultural Credit Insurance Fund: Farm Operating ........................................................................ Indian Land Acquisition ............................................................ Emergency Disaster ................................................................. Boll Weevil Eradication ............................................................ Farm Ownership ....................................................................... Farm Storage Facility Loan Program .......................................... Sugar Storage Facility Loan Program ......................................... Rural Community Advancement Program: Community Facility Loans ........................................................ Water and Waste Disposal Loans ........................................... 11.69 21.15 11.77 1.90 4.19 0.38 ¥2.71 6.41 9.96 10.49 15.66 0.08 ¥0.95 0.43 7.27 7.40 0.18 0.09 1.02 5.49 12.39 2.85 3.87 0.03 0.63 .................. 0.18 .................. .................. .................. ¥0.69 .................. .................. .................. ¥0.12 ¥0.11 ¥6.80 .................. ¥10.74 ¥0.81 ¥0.44 4 40 10 7 36 7 15 29 38 9 18 4.75 5.00 3.75 4.50 5.13 5.02 5.13 4.51 4.43 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 0.11 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 85.45 80.37 27.74 0.24 43.16 58.68 52.08 91.85 84.63 15.88 9.21 ................ 12.65 ................ 4.96 4.28 14.58 9.01 99.00 99.90 94.00 71.00 7.04 .................. 10.31 .................. 1 .............. .............. .............. 1 .............. .............. .............. Rural Utilities Service: Distance Learning and Telemedicine Loans ............................... 0.63 1.35 ¥0.72 .................. ¥0.01 Broadband Treasury Loans .......................................................... 2.15 2.19 .................. .................. ¥0.04 Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans ...................................................... 2.14 .................. 2.25 .................. ¥0.12 Municipal Electric Loans ...................................................... 1.51 .................. 1.26 .................. 0.25 FFB Electric Loans .............................................................. ¥1.19 0.02 ¥1.21 .................. .................. Treasury Electric Loans ....................................................... .................. .................. .................. .................. .................. Telephone: Telecommunication Hardship Loans ................................... 0.37 0.01 0.36 .................. .................. FFB Telecommunications Loans ......................................... ¥1.49 0.02 ¥1.21 .................. ¥0.29 Treasury Telecommunication Loans ................................... 0.03 0.03 .................. .................. .................. FFB Guaranteed Underwriting ..................................................... ¥0.44 0.81 ¥1.24 .................. .................. Rural Housing Service: Rural Housing Insurance Fund: Single-Family Housing Credit Sales ........................................ Multi-Family Housing Credit Sales .......................................... Section 502 Single-Family Housing ........................................ Section 504 Housing Repair .................................................... Sec 515 Multi-Family Housing ................................................. Section 523 Self-Help Site Development ................................ Section 524 Site Development ................................................ Section 514 Farm Labor Housing ................................................ Multi-family Housing Relending Program .................................... Rural Business — Cooperative Service: Intermediary Relending Program ................................................. Rural Economic Development Loans .......................................... 5.00 .............. .............. .............. .............. 5.04 1 .............. .............. .............. 33 33 27 32 19 18 19 20 5.00 5.08 5.23 5.19 1 1 1 1 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 0.02 0.06 0.56 0.01 0.30 0.42 0.81 10.64 100.00 100.00 100.00 100.00 100.00 100.00 100.00 82.65 5.00 1 5.11 1 5.07 1 5.46 .............. 0.48 9.56 45.33 0.11 10.03 5.37 29.55 1.47 45.67 0.07 2.47 .................. ¥1.66 0.93 47.95 0.21 47.82 .................. 44.07 .................. 21.84 0.18 ¥16.88 ¥19.19 ¥14.99 30.08 ¥18.32 2.47 ¥2.59 45.52 47.81 .................. 7.81 .................. 64.41 .................. 19.66 4 ¥2.00 .................. 4 63.92 .................. .................. .................. .................. .................. .................. 2.22 .................. 0.01 ¥0.86 ¥1.78 20 50 30 19 50 2 2 33 30 7.06 6.56 6.56 1.00 6.56 3.00 6.56 1.00 1.00 .............. .............. .............. .............. .............. .............. .............. .............. 3 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 31.20 35.96 .............. 0.45 20.62 .............. 54.29 60.40 .............. 7.15 46.44 .............. 0.99 75.08 .............. ................ ................ .............. 1.00 ................ .............. 1.71 61.92 .............. 0.02 90.00 0.02 4.46 100.00 100.00 44.93 .................. 23.45 .................. 30 1.00 10 .............. 3 .............. .............. .............. 1 .............. .............. .............. 9 Table 3.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2007 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Department of Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans ............................................... Traditional Direct Loans ........................................................... New England Lobster Buyback ............................................... Department of Defense Family Housing: Military Housing Improvement Fund ............................................ Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations .................................. Subsidized Stafford .................................................................. Unsubsidized Stafford .............................................................. PLUS ........................................................................................ Consolidated ............................................................................. Office of Postsecondary Education: Historically Black College and University Capital Financing Program .......................................................................................... Historically Black College and University Hurricane Supplemental ....................................................................................... Department of Health and Human Services Centers for Medicare and Medicaid Services: Health Care Infrastructure Improvement ..................................... Department of Homeland Security Federal Emergency Management Agency: State Share Loans ....................................................................... Community Disaster Loans .......................................................... Department of State Bureau of Consular Affairs: Repatriation Loans ....................................................................... Department of Transportation Federal Highway Administration: Transportation Infrastructure Finance and Innovation: TIFIA Direct Loans ................................................................... TIFIA Lines of Credit ............................................................... 60.14 59.65 0.49 .................. .................. * 1.20 * .............. .............. .............. 94.19 39.81 1.18 .................. 93.40 .................. 0.82 .................. 4.90 .................. 0.36 88.50 7 5 5.18 .............. .............. .............. .............. ................ ................ 5.08 .............. .............. .............. .............. ................ ................ 100.00 .................. .................. .................. 100.00 20 1.00 5 .............. .............. .............. ................ ................ 28.40 8.95 19.45 .................. .................. 35 3.56 5 .............. .............. .............. 37.00 54.48 ¥8.08 ¥8.01 4.32 0.54 0.23 31.89 ¥16.00 ¥0.69 8.07 ¥13.56 ¥0.70 6.02 ¥27.57 .................. .................. 20 15 30 6.92 .............. 0.50 .............. .............. 7.04 .............. 0.05 .............. .............. 7.18 .............. .............. .............. .............. 4.18 77.21 1.35 82.72 61.52 ................ 2.43 11.06 ¥7.60 ¥4.91 7.04 3.46 0.87 0.87 0.52 12.21 ¥5.68 ¥2.36 6.21 ¥2.88 ¥13.22 ¥2.88 ¥12.21 ¥4.00 ¥9.43 .................. 7.01 6.86 7.63 10.78 4.26 11 10 10 10 16 6.79 * 2.36 6.80 * 2.88 6.46 * 2.88 7.90 .............. 4.00 6.56 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 16.65 12.73 12.49 5.50 32.90 103.97 114.60 114.60 114.17 92.88 .................. .................. .................. .................. .................. 76.14 20.26 55.89 .................. .................. 30 30 5.00 .............. .............. .............. .............. 1.00 .............. .............. .............. .............. 10.00 83.00 33.00 ................ 5.00 4.99 0.01 .................. .................. 5.58 .................. .................. .................. 5.58 38 35 5.37 5.37 5 .............. .............. .............. 15 .............. .............. .............. 37.69 32.21 60.00 60.00 10 Table 3.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2007 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Program ... .................. Department of Treasury Community Development Financial Institutions: Community Development Financial Institutions Fund ................. Department of Veterans Affairs Benefits Programs: Acquired Loans ............................................................................. Vendee Loans .............................................................................. Native American Veteran Housing Loans ................................... Vocational Rehabilitation Loan Fund ........................................... International Assistance Programs Overseas Private Investment Corporation: OPIC Direct Loans ....................................................................... Small Business Administration General Business Loan Programs: Section 7(m) Microloans .............................................................. Disaster Loan Program: Disaster Assistance ...................................................................... Other Independent Agencies Export-Import Bank of the United States: Long and Medium Term Loans (including Tied Aid) .................. 34.00 10.21 17.73 2.74 10.43 ¥3.46 ¥13.46 2.00 37.47 3.46 ¥1.27 ¥2.19 .................. 25 5.35 6 .............. .............. 2.19 60.62 61.44 17.24 20.23 .................. .................. 13 2.10 1 .............. .............. .............. 25.00 15.00 13.22 1.75 1.86 0.27 ¥4.34 .................. 1.56 ¥19.95 ¥1.92 16.66 ¥16.32 ¥0.51 1.52 1.72 .................. .................. 30 5.78 30 7.06 30 6.88 1 .............. .............. .............. .............. .............. .............. 1.96 .............. .............. .............. 1.15 .............. .............. .............. .............. .............. .............. 83.57 15.08 10.01 0.31 39.00 42.01 78.76 6.38 13.73 ¥2.41 ¥8.57 .................. 8 5.03 4 0.50 1.77 .............. 24.55 50.00 5 ¥0.03 9.08 .................. 10.63 .................. 1.16 ¥1.53 10 18 3.72 4.08 1 .............. .............. .............. ................ ................ * .............. .............. .............. 17.58 14.61 8.63 11.26 31.35 ¥8.61 .................. 24 1.65 4 0.50 8.49 .............. 18.73 ................ * Nonzero amount rounds to zero. 1 Lifetime defaults as a percentage of disbursements. 2 Recoveries as a percentage of lifetime defaults. 3 Subsidy estimates are based on total cash receipts curves. Default component includes net expected inflows and outflows where insufficient data is available to identify the source. 4 Fees included in the All other component. 5 Default component reflects recoveries only; defaults are included in the All other component. 11 Table 4.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2007 SUBSIDY ESTIMATES (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Percent guaranteed Department of Agriculture Farm Service Agency: CCC Export Loan Guarantees: GSM 102 .......................................................................... Facilities ........................................................................... Supplier Credit ................................................................. Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ....................................... Farm Operating—Subsidized .......................................... Farm Ownership—Unsubsidized ..................................... Rural Community Advancement Program: Business and Industry Loans .............................................. Community Facility Loans .................................................... Water and Waste Disposal Loans ....................................... Rural Housing Service: Rural Housing Insurance Fund: Section 502 Single-Family Housing Purchase ............... Section 502 Single-Family Housing Refinance .............. 538 Multi-Family Housing—Subsidized ........................... Rural Business Cooperative Services: Renewable Energy ............................................................... Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments ...................... Subsidized Stafford .......................................................... Unsubsidized Stafford ...................................................... PLUS ................................................................................ Consolidated .................................................................... Department of Health and Human Services Health Resources and Services Administration: Health Centers Loan Guarantees: Health Facilities Construction Loans ............................... Department of Housing and Urban Development Public and Indian Housing Programs: Indian Housing Loan Guarantees ........................................ Title VI Indian Housing Guarantees .................................... Native Hawaiian Housing Loan Guarantees ....................... Community Planning and Development: Community Development Loan Guarantees (Section 108) 2.35 11.99 2.35 2.17 3.35 ................ ¥1.00 ................ 11.99 ................ ................ ................ 3.35 ................ ¥1.00 ................ 2.17 ................ ................ ................ 30 20 30 10 6.50 .............. 1.00 .............. .............. 6.50 .............. .............. .............. .............. 6.50 .............. 1.00 .............. .............. 5.25 .............. .............. .............. .............. 6.70 2.53 17.81 ................ 6.70 2.53 14.11 80.00 100.00 95.00 100.00 100.00 3.04 3 4.55 3 0.34 3.76 ................ 4.57 ................ 0.96 ................ ¥0.72 ................ ¥0.02 ................ ¥0.62 ................ 3 10 * 4 6 18 17 20 21 5.00 .............. 5.00 .............. 5.00 .............. 0.76 .............. .............. 0.02 .............. .............. 0.57 .............. .............. 3.49 ................ 5.68 ................ 1.27 ................ 4.43 3.27 2.14 10.22 3.67 12.41 98.00 96.00 65.00 90.00 90.00 90.00 80.58 85.44 90.00 2.47 10.07 0.58 4.36 3.66 ¥0.90 3.37 ................ ¥0.90 ................ 2.48 7.59 ................ ................ 1.48 ................ ¥0.91 ................ 7.40 ................ 4.52 ................ ................ ................ ¥3.04 ................ ¥0.85 ................ ¥0.90 ................ 8.75 .............. 1.00 .............. .............. 7.85 .............. .............. .............. .............. 7.64 .............. 1.00 .............. .............. 9.00 .............. 5.80 .............. 5.80 .............. 1.88 0.25 .............. 12.54 34.16 1.00 .............. .............. 6.09 2.28 1.00 .............. .............. .............. ................ 1.21 0.50 7.74 6.49 3.21 ................ 1.00 ................ 0.50 14.59 8.03 ................ ¥2.00 ................ ¥0.50 ................ ¥7.35 ................ ¥1.54 ................ 29 .............. .............. 30 .............. .............. 32 8.06 .............. 17 9.00 .............. 2.00 .............. .............. 0.50 .............. .............. 1.00 0.50 .............. 1.00 0.12 .............. 4.30 0.58 1.30 0.44 0.91 ................ 12.92 32.75 90.00 90.00 89.93 78.43 6.65 18.03 0.01 ¥0.28 5.22 0.60 0.22 0.19 0.41 1.40 7.21 17.87 ¥0.23 ¥1.76 8.00 ¥4.18 ¥2.38 ¥2.38 ¥2.38 ¥8.26 3.03 2.32 2.43 3.45 4.08 12 9 9 8 19 6.76 * 6.80 * 6.46 * 8.50 .............. 6.37 .............. 1.74 0.36 .............. 2.38 .............. .............. 2.38 .............. .............. 2.38 .............. .............. 0.50 1.05 .............. 11.70 12.45 11.02 5.22 13.87 116.74 122.94 122.94 108.69 109.34 97.00 97.00 97.00 97.00 97.00 3 3.42 3.42 ................ ................ ................ 10 8.25 1 .............. .............. .............. 17.00 74.00 80.00 13 Table 4.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2007 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Percent guaranteed Housing Programs: FHA General and Special Risk Insurance Fund: Multifamily Development .................................................. Section 221(d)(3) Cooperatives ...................................... Tax Credit New Construction .......................................... Apartment Refinance ....................................................... Section 241 Supplemental Loans ................................... Multifamily Operating Loss Loans ................................... Housing Finance Authority Risk Sharing ........................ GSE Risk Sharing ........................................................... Health Care and Nursing Homes .................................... Health Care Refinance .................................................... Hospitals ........................................................................... Other Rental .................................................................... Section 234 Condominiums ............................................ Section 203(k) Rehabilitation Mortgage .......................... Home Equity Conversion Mortgages .............................. Title I Property Improvement ........................................... Title I Manufactured Housing .......................................... FHA Mutual Mortgage Insurance Fund: Mutual Mortgage Insurance Program ............................. Government National Mortgage Association: Guarantees of Mortgage-Backed Securities ....................... Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loan Program ....................................... Indian Insured Loan Program .............................................. Department of Transportation Office of the Secretary: Minority Business Resource Center .................................... Federal Highway Administration: TIFIA Loan Guarantees ....................................................... Maritime Administration: Maritime Guaranteed Loan Program: Weighted Average ........................................................... Risk Category Level 3 ..................................................... Risk Category Level 4 ..................................................... Risk Category Level 5 ..................................................... Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................. ¥0.61 6.31 ¥2.78 ¥1.63 3.93 3 16.55 ¥0.68 ¥0.89 ¥2.42 ¥0.91 ¥1.83 ¥1.56 ¥1.49 0.31 ¥2.82 0.97 0.83 ¥0.37 ¥0.21 4.87 13.56 1.84 3.15 11.37 21.55 2.67 1.39 3.89 4.64 3.27 4.87 2.15 4.23 1.99 3.94 6.44 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ¥5.48 ¥7.25 ¥4.63 ¥4.78 ¥7.43 ¥5.00 ¥3.35 ¥2.28 ¥6.31 ¥5.55 ¥5.10 ¥6.43 ¥3.64 ¥3.92 ¥4.81 ¥2.97 ¥5.62 ¥3.76 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 1.18 40 40 40 35 30 35 38 30 40 35 25 40 30 30 30 20 20 30 30 7.12 6.70 6.68 6.93 7.58 7.57 6.54 7.81 7.34 7.23 6.26 7.04 6.79 7.73 6.21 13.00 13.00 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 1.50 1.50 2.00 .............. .............. 1.50 0.77 0.80 0.50 0.77 0.80 0.80 0.50 0.50 0.80 0.80 0.80 0.77 0.50 0.50 0.50 1.00 1.00 0.77 .............. 0.50 0.77 0.80 .............. 0.50 0.50 0.80 .............. 0.50 0.77 .............. .............. .............. .............. .............. 18.42 68.82 46.04 66.20 11.71 71.20 11.77 64.10 15.74 ................ 26.63 ................ 13.01 78.81 2.40 ................ 9.61 49.93 14.28 54.05 9.77 55.51 18.41 68.24 9.03 71.21 13.46 61.10 62.07 131.46 5.48 15.00 9.44 15.00 12.08 78.37 99.86 100.00 100.00 85.00 80.00 100.00 100.00 90.00 50.00 100.00 80.00 100.00 100.00 100.00 100.00 100.00 90.00 90.00 100.00 100.00 2.21 ................ ................ ................ 6.86 .............. 0.50 .............. 0.06 ¥0.22 ................ 8.12 .............. .............. 0.02 .............. 6.45 6.45 4.98 4.98 3.27 3.27 ¥1.80 ................ ¥1.80 ................ 16 16 9.00 .............. 9.00 .............. 2.00 .............. .............. 2.00 .............. .............. 7.29 7.29 9.21 9.21 90.00 90.00 1.82 3.90 1.82 ................ ................ ................ 3.90 ................ ................ ................ 2 37 9.25 .............. .............. .............. .............. 5.37 5 .............. .............. .............. 2.00 ................ 24.65 60.00 75.00 100.00 5.93 4.31 6.08 8.79 10.81 9.20 10.96 13.67 ................ ................ ................ ................ ¥4.88 ¥4.88 ¥4.88 ¥4.88 ................ ................ ................ ................ 25 25 25 25 6.50 6.50 6.50 6.50 .............. .............. .............. .............. 4.88 4.88 4.88 4.88 .............. .............. .............. .............. .............. .............. .............. .............. 19.09 16.37 19.31 24.09 38.00 38.00 38.00 38.00 100.00 100.00 100.00 100.00 ¥0.36 1.27 ................ ¥1.63 ................ 30 7.06 .............. 1.66 .............. .............. 7.34 76.66 25.00 14 Table 4.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2007 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Percent guaranteed International Assistance Programs Agency for International Development: Development Credit Authority (DCA): DCA .................................................................................. Overseas Private Investment Corporation: OPIC Loan Guarantees ....................................................... OPIC Investment Funds ...................................................... Small Business Administration General Business Loan Programs: 7(a) General Business Loans .............................................. Section 504 Certified Development Companies Debentures ................................................................................. SBIC Debentures ................................................................. Secondary Market Guarantee .............................................. Other Independent Agencies Export-Import Bank of the United States: Short, Medium, and Long Term Guarantees and Insurance Program: Risk Category A .............................................................. Risk Category B .............................................................. ................ ................ ................ ................ 3.47 ................ ¥3.46 ................ 16 20 10 20 8.35 .............. 2.07 0.55 .............. 7.19 50.75 72.68 100.00 100.00 100.00 5.45 2.00 ¥4.11 6.52 ................ 11.19 ................ 9.26 ................ ¥1.07 ................ ¥9.19 ................ ¥13.37 ................ 7 9 12 4.91 7.71 8.03 5 4 11 0.50 0.50 0.50 0.50 .............. 1.42 .............. 1.50 .............. 17.06 ................ 23.19 40.00 16.30 ................ 50.00 100.00 100.00 2.15 ................ ¥2.45 0.30 8.17 ................ ¥3.20 ¥4.97 ................ ................ ................ ................ 6.27 .............. 1.36 0.16 .............. 4.11 40.84 5.89 .............. 3.00 0.91 .............. 33.16 75.18 5.50 .............. .............. .............. .............. .............. ................ 2.60 ¥1.72 9.99 ................ 2.18 ................ ¥7.39 ................ ¥3.90 ................ 7 7 5.46 5.46 1 1 7.87 3.92 0.12 .............. 0.12 .............. 11.65 ................ 2.60 ................ 100.00 100.00 * Nonzero amount rounds to zero, based on units for this column. 1 Lifetime defaults as a percentage of disbursements. 2 Recoveries as a percentage of lifetime defaults. 3 Does not match the rate published in the Appendix, but is the correct rate and will be used for execution. 15 Table 5.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2008 SUBSIDY ESTIMATES (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Department of Agriculture Farm Service Agency:3 Agricultural Credit Insurance Fund: Farm Operating .................................................................. Indian Land Acquisition ...................................................... Emergency Disaster ........................................................... Boll Weevil Eradication ...................................................... Farm Ownership ................................................................. Farm Storage Facility Loan Program .................................... Sugar Storage Facility Loan Program ................................... Rural Community Advancement Program: Community Facility Loans .................................................. Water and Waste Disposal Loans ..................................... Rural Utilities Service: Broadband Treasury Loans .................................................... Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans ................................................ FFB Electric Loans ........................................................ Telephone: Telecommunication Hardship Loans ............................. FFB Telecommunications Loans ................................... Treasury Telecommunication Loans ............................. Rural Housing Service: Rural Housing Insurance Fund: Single-Family Housing Credit Sales .................................. Multi-Family Housing Credit Sales .................................... Section 504 Housing Repair .............................................. Section 524 Site Development .......................................... Section 514 Farm Labor Housing ......................................... Rural Business — Cooperative Service: Intermediary Relending Program ........................................... Rural Economic Development Loans .................................... Department of Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans ......................................... Department of Defense Family Housing: Military Housing Improvement Fund ...................................... 26.38 16.07 10.31 .................. ................ 42 3.89 5 ................ .............. ................ 82.43 40.82 12.69 3.15 11.15 ¥0.27 4.45 4 1.01 0.98 5.55 14.20 2.15 0.12 ¥0.70 0.08 0.62 0.67 14.43 0.31 5.24 1.45 11.00 1.10 0.62 0.73 0.09 ¥1.11 2.83 6.72 ¥2.00 ¥6.72 0.02 0.36 .................. ¥0.63 .................. ................ .................. ¥0.82 .................. 0.28 .................. 0.17 ¥0.11 ................ .................. ................ ¥0.58 ¥0.55 ¥0.02 4 5.61 40 5.00 11 3.75 7 5.52 37 5.74 7 5.00 15 ................ 30 38 18 33 27 19 16 18 4.50 3.90 4.89 5.00 5.06 5.00 4.79 4.90 .............. .............. .............. .............. .............. .............. .............. ................ ................ ................ ................ ................ 0.11 ................ .............. .............. .............. .............. .............. .............. .............. ................ ................ ................ ................ ................ ................ ................ 25.69 11.92 18.56 2.22 105.95 19.85 10.54 6.10 4.34 8.92 10.21 5.28 7.02 5.52 4.69 45.75 22.61 99.57 23.46 22.76 69.90 87.45 83.08 99.90 71.00 83.03 83.02 83.03 83.03 83.03 5.40 .................. 14.65 .................. 1 ................ .............. ................ 1 ................ .............. ................ 1 ................ .............. ................ 1 ................ .............. ................ 1 ................ .............. ................ 1 ................ .............. ................ 1 ................ .............. ................ 1 ................ .............. ................ 2.17 .................. .................. 0.96 0.67 ¥0.03 .................. ¥0.81 ¥1.37 .................. ................ 0.04 ¥0.22 0.03 1.00 ¥0.96 .................. 0.85 ¥0.01 .................. 0.64 .................. .................. ¥1.15 37.14 28.27 ¥0.79 43.26 7.85 5.41 0.94 0.92 8.93 ¥15.38 ¥17.41 29.14 ¥1.71 44.45 .................. 6.38 .................. 49.15 .................. 5 ¥1.81 .................. ................ .................. ¥10.11 ¥0.64 ¥0.77 20 50 19 2 33 6.72 6.22 1.00 6.22 1.00 .............. .............. .............. .............. .............. ................ ................ ................ ................ ................ .............. .............. .............. .............. .............. ................ ................ ................ ................ ................ 46.69 64.00 18.65 22.50 7.15 56.86 1.00 ................ 56.47 61.26 0.03 5.55 100.00 100.00 42.89 .................. 22.59 0.21 43.53 .................. 23.15 .................. 30 1.00 10 ................ 3 ................ .............. ................ 1 ................ .............. ................ ¥10.58 0.38 ¥17.66 ¥0.68 7.38 21 6.92 .............. 0.50 .............. ................ 3.96 81.47 17 Table 5.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2008 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations ............................ Weighted Average of Total Obligations (Legislative Proposal) .............................................................................. Subsidized Stafford ............................................................ Subsidized Stafford (Legislative Proposal) ........................ Unsubsidized Stafford ........................................................ Unsubsidized Stafford (Legislative Proposal) .................... PLUS .................................................................................. PLUS (Legislative Proposal) .............................................. Consolidated ....................................................................... Consolidated (Legislative Proposal) .................................. Department of Homeland Security Federal Emergency Management Agency: State Share Loans ................................................................. Community Disaster Loans .................................................... Department of State Bureau of Consular Affairs: Repatriation Loans ................................................................. Department of Transportation Federal Highway Administration: Transportation Infrastructure Finance and Innovation: TIFIA Direct Loans ............................................................. TIFIA Lines of Credit ......................................................... Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Program .................................................................................... Department of Treasury Community Development Financial Institutions: Community Development Financial Institutions Fund ........... Department of Veterans Affairs Benefits Programs: Acquired Loans ....................................................................... Vendee Loans ........................................................................ Native American Veteran Housing Loans ............................. Vocational Rehabilitation Loan Fund ..................................... 8.84 ¥1.59 ¥14.48 2.16 13.12 3.62 1.64 0.29 ¥6.27 .................. 1.99 ¥19.60 ¥1.79 16.17 ¥19.05 ¥0.51 3.44 1.87 .................. ................ 30 5.74 30 6.82 30 6.82 1 ................ .............. ................ .............. ................ .............. 1.83 .............. ................ .............. 1.15 .............. ................ .............. ................ .............. ................ 83.12 40.47 19.98 35.99 9.34 80.00 0.30 ................ 37.52 17.23 20.29 .................. ................ 13 2.10 1 ................ .............. ................ 25.00 15.00 60.22 59.65 0.57 .................. ................ * 1.20 * ................ .............. ................ 94.19 39.81 1.73 .................. 93.30 .................. 1.38 .................. 5.01 .................. 0.35 88.29 7 5 4.96 .............. ................ .............. ................ ................ ................ 5.09 .............. ................ .............. ................ ................ ................ 2.37 2.35 11.56 11.46 ¥7.12 ¥7.13 ¥4.90 ¥5.66 5.56 5.67 3.47 3.46 0.87 0.88 0.87 0.86 0.52 0.54 12.00 12.13 ¥6.13 ¥2.04 7.07 7.13 6.86 6.84 7.62 7.62 10.78 11.35 4.55 4.54 11 11 10 10 10 10 10 10 16 16 6.89 6.93 6.80 6.80 6.46 6.46 7.90 8.21 6.94 6.94 * 2.04 .............. ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 16.65 16.62 12.98 12.84 12.45 12.40 5.50 5.50 32.24 32.55 103.98 104.00 114.60 114.60 114.60 114.60 114.17 114.17 92.96 92.92 ¥6.21 ¥2.04 6.21 ¥2.38 6.12 ¥2.38 ¥13.23 ¥2.38 ¥13.23 ¥2.38 ¥12.20 ¥4.00 ¥13.55 ¥4.00 ¥10.99 .................. ¥11.00 .................. * 2.04 .............. * 2.38 .............. * 2.38 .............. * 2.38 .............. * 2.38 .............. .............. 4.00 .............. .............. 4.00 .............. .............. ................ .............. .............. ................ .............. 5.00 5.04 ¥0.04 .................. ................ 5.00 .................. .................. .................. 5.00 38 35 5.22 5.00 5 ................ .............. ................ 15 ................ .............. ................ 36.54 32.21 60.00 60.00 .................. 3.85 ¥0.95 ¥2.90 ................ 25 5.14 6 ................ .............. 2.90 61.61 61.91 18 Table 5.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2008 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Veterans Health Administration: Transitional Housing for Homeless Veterans ........................ International Assistance Programs Overseas Private Investment Corporation: OPIC Direct Loans ................................................................. Small Business Administration General Business Loan Programs: Section 7(m) Microloans ........................................................ Disaster Loan Program: Disaster Assistance ................................................................ Other Independent Agencies Export-Import Bank of the United States: Long and Medium Term Loans (including Tied Aid) ............ 72.10 95.45 ¥23.34 .................. ................ 35 5.17 .............. ................ .............. ................ 217.58 ................ 3.22 13.60 ¥1.31 ¥9.08 ................ 10 6.67 5 0.40 1.50 ................ 33.76 50.00 .................. 16.27 6 ¥0.05 ¥2.10 .................. 11.47 .................. 2.15 ¥5.45 10 21 5.99 3.94 1 ................ .............. ................ ................ ................ 1 ................ .............. ................ 24.01 15.56 10.25 33.01 5.97 31.50 ¥4.46 ................ 24 1.50 4 ................ 4.67 ................ 12.22 ................ * Nonzero amount rounds to zero. 1 Lifetime defaults as a percentage of disbursements. 2 Recoveries as a percentage of lifetime defaults. 3 Subsidy estimates are based on total cash receipts curves. Default component includes net expected inflows and outflows where insufficient data is available to identify the source. 4 Does not match the rate published in the Appendix, but is the correct rate and will be used for execution. 5 Fees included in the All other component. 6 Default component reflects recoveries only; defaults are included in the All other component. 19 Table 6.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2008 SUBSIDY ESTIMATES (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Percent guaranteed Department of Agriculture Farm Service Agency: CCC Export Loan Guarantees: GSM 102 .......................................................................... Facilities ........................................................................... Supplier Credit ................................................................. Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ....................................... Farm Operating—Subsidized ........................................... Farm Ownership—Unsubsidized ..................................... Rural Community Advancement Program: Business and Industry Loans .............................................. Community Facility Loans .................................................... Water and Waste Disposal Loans ....................................... Rural Housing Service: Rural Housing Insurance Fund: Section 502 Single-Family Housing Purchase ............... Section 502 Single-Family Housing Purchase (Legislative Proposal) ............................................................... Section 502 Single-Family Housing Refinance .............. 538 Multi-Family Housing—Subsidized ........................... Rural Business Cooperative Services: Renewable Energy ............................................................... Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments ...................... 5.16 Weighted Average of Total Commitments (Legislative Proposal) ...................................................................... 3.88 Subsidized Stafford .......................................................... 18.14 Subsidized Stafford (Legislative Proposal) ..................... 17.33 Unsubsidized Stafford ...................................................... ¥0.01 Unsubsidized Stafford (Legislative Proposal) ................. ¥0.95 PLUS ................................................................................ .................. PLUS (Legislative Proposal) ........................................... ¥0.55 Consolidated .................................................................... 0.65 Consolidated (Legislative Proposal) ................................ ¥1.82 Department of Energy Energy Programs: Title 17 Innovative Technology Loan Guarantees .............. .................. 20.95 ................ ¥20.95 ................ 30 7.50 5 3 20.95 2.39 ¥0.05 5.60 2.42 13.34 0.40 4.32 3.68 ¥0.82 2.96 ................ 4.12 ................ 6.16 ................ ¥0.57 ................ ¥4.17 ................ ¥0.56 ................ 3 10 * 4 6 18 5.00 .............. 5.00 .............. 5.00 .............. 0.57 .............. .............. 4.17 .............. .............. 0.56 .............. .............. 3.49 .............. 5.68 .............. 1.27 .............. 4.28 3.00 2.19 7.40 3.47 27.42 98.00 96.00 65.00 90.00 90.00 90.00 78.22 86.05 82.05 3.32 ................ ¥0.90 ................ 2.29 11.05 ................ ................ 1.28 ................ ¥0.88 ................ 7.33 ................ 4.54 ................ ................ ................ ¥3.01 ................ ¥0.86 ................ ¥0.82 ................ 9.02 .............. 1.00 .............. .............. 8.75 .............. .............. .............. .............. 8.05 .............. 1.00 .............. .............. 17 9.44 .............. 20 5.79 .............. 20 .............. .............. 1.88 0.25 .............. 12.36 33.23 1.00 .............. .............. 5.98 2.59 1.00 .............. .............. .............. .............. 1.20 0.20 0.81 9.40 9.69 3.20 ................ 3.20 ................ 1.31 ................ 0.42 16.91 11.97 ................ ¥2.00 ................ ¥3.00 ................ ¥0.50 ................ ¥7.94 ................ ¥2.28 ................ 29 .............. .............. 29 8.06 .............. 30 .............. .............. 36 7.82 .............. 17 9.44 .............. 2.00 .............. .............. 3.00 .............. .............. 0.50 .............. .............. 1.00 0.50 .............. 1.00 0.25 .............. 4.21 0.65 90.00 90.00 90.00 90.00 78.43 4.21 0.65 1.65 0.58 79.80 .............. 20.70 27.60 0.62 0.27 0.23 ¥0.17 0.19 ¥0.15 0.41 0.26 1.40 1.02 5.46 4.66 17.35 16.40 ¥0.73 ¥1.67 ¥1.98 ¥2.27 3.56 2.66 ¥3.96 ¥4.10 ¥1.75 ¥1.75 ¥1.88 ¥1.88 ¥1.88 ¥1.88 ¥8.39 ¥8.89 3.05 3.05 2.31 2.85 2.41 2.75 3.45 3.34 4.08 3.39 12 12 9 9 9 9 8 8 19 19 6.95 6.94 6.80 6.80 6.46 6.46 8.50 8.38 6.94 6.94 * * * * * * .............. .............. .............. .............. 1.53 1.53 1.75 1.75 1.88 1.88 1.88 1.88 0.50 1.00 0.38 .............. 0.37 .............. .............. .............. .............. .............. .............. 1.05 1.05 .............. .............. .............. .............. .............. .............. .............. .............. .............. 11.77 11.74 12.78 12.67 10.96 10.92 5.22 5.22 13.73 13.75 116.41 116.47 122.94 122.94 122.94 122.94 108.69 108.69 109.07 109.12 97.00 95.00 95.00 95.00 97.00 95.00 97.00 95.00 97.00 95.00 .............. .............. 3 50.57 3 47.30 80.00 21 Table 6.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2008 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Percent guaranteed Department of Housing and Urban Development Public and Indian Housing Programs: Indian Housing Loan Guarantees ........................................ Title VI Indian Housing Guarantees .................................... Native Hawaiian Housing Loan Guarantees ....................... 2.42 12.12 2.42 3.42 ................ ¥1.00 ................ 12.12 ................ ................ ................ 3.42 ................ ¥1.00 ................ 30 20 30 6.50 .............. 1.00 .............. .............. 7.00 .............. .............. .............. .............. 6.50 .............. 1.00 .............. .............. 6.70 2.53 17.81 .............. 6.70 2.53 100.00 95.00 100.00 Housing Programs: FHA General and Special Risk Insurance Fund: Multifamily Development .................................................. ¥0.83 Multifamily Development (Legislative Proposal) ............. ¥2.02 Section 221(d)(3) Cooperatives ...................................... 5.67 Tax Credit New Construction .......................................... ¥3.20 Apartment Refinance ....................................................... ¥2.75 Apartment Refinance (Legislative Proposal) ................... ¥4.09 Section 241 Supplemental Loans ................................... 2.99 Multifamily Operating Loss Loans ................................... 15.43 Housing Finance Authority Risk Sharing ........................ ¥1.25 GSE Risk Sharing ........................................................... ¥1.42 Health Care and Nursing Homes .................................... ¥0.68 Health Care Refinance .................................................... ¥1.58 Hospitals ........................................................................... ¥2.66 Other Rental .................................................................... ¥1.82 Section 234 Condominiums ............................................ ¥0.88 Section 234 Condominiums (Legislative Proposal) ........ .................. Section 203(k) Rehabilitation Mortgage .......................... 1.89 Section 203(k) Rehabilitation Mortgage (Legislative Proposal) ...................................................................... .................. Title I Property Improvement ........................................... 0.53 Title I Manufactured Housing .......................................... 0.13 FHA Mutual Mortgage Insurance Fund: Mutual Mortgage Insurance Program ............................. ¥0.01 Mutual Mortgage Insurance Program (Legislative Proposal) ........................................................................... ¥0.60 Mutual Mortgage Insurance Program-HECM (Legislative Proposal) ............................................................... ¥1.35 Government National Mortgage Association: Guarantees of Mortgage-Backed Securities ....................... Guarantees of Mortgage-Backed Securities (Legislative Proposal) .......................................................................... Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loan Program ....................................... Indian Insured Loan Program .............................................. 6.56 4.14 ¥0.21 ¥0.27 4.46 4.46 12.58 1.46 1.98 1.98 10.12 20.46 2.09 0.86 5.42 3.73 2.33 4.22 2.68 ................ 5.63 ................ ¥5.30 ................ 40 7.01 .............. ................ ¥6.48 ................ 40 7.01 .............. ................ ¥6.91 ................ 40 5.33 .............. ................ ¥4.66 ................ 40 4.60 .............. ................ ¥4.73 ................ 35 6.73 .............. ................ ¥6.07 ................ 35 6.73 .............. ................ ¥7.12 ................ 30 4.93 .............. ................ ¥5.03 ................ 35 6.31 .............. ................ ¥3.34 ................ 38 5.72 .............. ................ ¥2.28 ................ 30 5.00 .............. ................ ¥6.10 ................ 40 7.07 .............. ................ ¥5.31 ................ 35 6.02 .............. ................ ¥4.99 ................ 25 5.36 .............. ................ ¥6.04 ................ 40 5.44 .............. ................ ¥3.56 ................ 30 6.79 .............. ................ ................ ................ .............. .............. .............. ................ ¥3.74 ................ 30 7.73 .............. .............. 0.77 0.77 18.38 .............. 0.77 0.77 18.38 .............. 0.80 .............. 43.45 .............. 0.50 0.50 9.81 .............. 0.77 0.77 8.39 .............. 0.77 0.77 8.39 .............. 0.80 0.80 13.80 .............. 0.80 .............. 25.54 .............. 0.50 0.50 11.16 0.50 0.50 .............. 1.39 .............. 0.80 0.80 13.88 .............. 0.80 .............. 12.66 .............. 0.80 0.50 6.38 .............. 0.77 0.77 16.89 1.50 0.50 .............. 9.13 .............. .............. .............. .............. 1.50 0.50 .............. 13.68 72.32 100.00 72.32 100.00 67.25 100.00 74.93 85.00 70.64 80.00 70.64 80.00 .............. 100.00 .............. 100.00 82.57 90.00 .............. 50.00 51.72 100.00 60.38 80.00 63.38 100.00 71.34 100.00 63.92 100.00 .............. ................ 48.45 100.00 ................ ................ ................ ................ .............. .............. .............. .............. .............. .............. .............. .............. ................ 3.53 ................ ¥3.00 ................ 20 13.00 .............. .............. 1.00 .............. 4.97 15.00 90.00 5.78 ................ ¥5.65 ................ 20 13.00 .............. .............. 1.00 .............. 8.59 15.00 90.00 2.91 ................ 2.55 ................ 2.55 ................ ................ ................ ................ ................ ¥4.05 ¥3.99 1.12 0.84 30 30 30 30 30 6.86 .............. 6.86 .............. 6.46 .............. 1.66 1.52 2.00 0.55 .............. 0.56 .............. 0.50 .............. 0.06 0.06 0.02 0.02 12.83 12.83 24.79 * * 72.53 72.53 112.56 99.77 99.77 100.00 100.00 100.00 100.00 100.00 ¥3.89 ................ ¥0.21 ................ ¥0.27 ................ 7.98 .............. .............. 7.98 .............. 0.06 5.04 3.32 5.04 ................ ¥1.80 ................ ¥0.90 ................ 16 10 9.00 .............. 9.00 .............. 2.00 .............. .............. 1.00 .............. .............. 7.46 7.46 9.65 9.65 90.00 90.00 22 Table 6.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2008 SUBSIDY ESTIMATES—Continued (in percentages, unless noted otherwise) Composition of Subsidy Agency, Bureau, Program and Risk Category Subsidy rate Defaults, net of recoveries Interest Fees All other Loan maturity (years) Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 Recovery rate 2 Percent guaranteed Department of Transportation Office of the Secretary: Minority Business Resource Center .................................... Federal Highway Administration: TIFIA Loan Guarantees ....................................................... Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Guaranteed Loans ................................................................... Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................. International Assistance Programs Agency for International Development: Development Credit Authority (DCA): DCA .................................................................................. DCA Line of Credit .......................................................... Overseas Private Investment Corporation: OPIC Loan Guarantees ....................................................... OPIC Investment Funds ...................................................... Small Business Administration General Business Loan Programs: 7(a) General Business Loans .............................................. Section 504 Certified Development Companies Debentures ................................................................................. SBIC Debentures ................................................................. Secondary Market Guarantee .............................................. Other Independent Agencies Export-Import Bank of the United States: Short, Medium, and Long Term Guarantees and Insurance Program: Risk Category A .............................................................. Risk Category B .............................................................. .................. .................. .................. .................. 3.37 ................ ¥3.37 ................ 13 20 10 20 9.53 .............. 2.02 0.49 .............. 6.96 50.66 66.95 100.00 100.00 100.00 ¥0.37 1.26 ................ ¥1.62 ................ 30 6.82 .............. 1.66 .............. .............. 6.97 75.71 25.00 2.03 5.90 2.03 ................ ................ ................ 5.90 ................ ................ ................ 2 37 9.94 .............. .............. .............. .............. 5.50 5 .............. .............. .............. 2.24 .............. 38.09 60.00 75.00 100.00 .................. 3.81 ................ ¥3.81 ................ 25 5.14 6 3.81 .............. .............. 30.52 95.00 80.00 4.88 24.40 2.74 ¥3.94 5.86 ................ 25.44 ................ 11.03 ................ 9.45 ................ ¥0.99 ................ ¥1.05 ................ ¥8.30 ................ ¥13.39 ................ 7 4.91 5 8 .............. .............. 9 12 7.30 7.73 4 11 0.43 0.50 0.50 0.50 0.78 .............. 1.00 .............. 1.25 .............. 1.25 .............. 13.57 .............. 57.48 .............. 24.06 40.00 16.31 .............. 50.00 50.00 100.00 100.00 1.71 ................ ¥2.05 0.33 7.17 ................ ¥7.20 0.03 ................ ................ ................ ................ 6.00 .............. 0.88 0.17 .............. 3.39 42.50 5.85 .............. 3.00 0.72 .............. 31.01 76.39 7.75 .............. .............. .............. .............. .............. .............. 1.37 ¥3.06 4.05 ................ 0.07 ................ ¥2.68 ................ ¥3.14 ................ 7 10 5.85 5.85 1 2 2.69 3.10 0.12 .............. 0.12 .............. 4.67 .............. 0.09 .............. 100.00 100.00 * Nonzero amount rounds to zero, based on units for this column. 1 Lifetime defaults as a percentage of disbursements. 2 Recoveries as a percentage of lifetime defaults. 3 Assumptions reflect an illustrative example for informational purposes only. The assumptions will be determined at the time of execution based upon the actual terms and conditions of the loan and guarantee contracts. 4 Does not match the rate published in the Appendix, but is the correct rate and will be used for execution. 23 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1 (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Department of Agriculture Farm Service Agency: Agricultural Credit Insurance Fund: Credit Sales of Acquired Property FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ Farm Operating FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Indian Land Acquisition FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2006 ................................................................................................ Emergency Disaster FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ 29.76 21.67 15.02 18.06 13.02 15.71 12.75 12.36 12.63 12.98 12.59 6.57 6.83 5.86 9.02 8.93 17.25 14.42 10.09 9.95 25.25 21.17 8.20 22.36 23.28 24.10 13.18 2.00 16.11 5.92 8.95 ¥0.78 4.01 20.26 24.27 28.00 2.96 ¥1.35 5.72 11.23 ¥0.65 ¥27.36 ¥4.34 1.73 5.37 2.13 0.56 ¥18.68 ¥11.03 ¥12.20 ¥15.80 198 158 778 581 ¥1,340 ¥4,584 ¥9,499 ¥2,255 ¥293 ¥1,580 ¥7,456 ¥12,369 ¥6,167 ¥915 ¥1,374 27,821 53,730 66,315 13,399 10,048 561,497 538,014 643,367 433,220 560,669 510,320 553,109 780,474 662,049 685,221 662,483 685,131 605,192 548,505 531,292 988 859 649 550 641 224 500 822 590 74 110 1,586 360 73,854 57,939 144,191 7.98 ¥15.12 7.39 7.48 ¥2.02 ¥3.25 11.78 1.84 ¥2.42 16.48 0.39 3.46 12.52 ¥5.67 5.21 12.98 0.99 ¥0.60 12.68 12.40 ¥6.29 11.24 11.61 ¥7.20 14.04 3.65 4.53 10.54 ¥1.04 2.56 10.31 ¥3.81 5.19 7.62 ¥2.94 ¥6.69 6.83 ¥1.10 ¥6.49 12.59 ¥0.18 2.68 (4) .......................... .......................... 24.26 14.85 15.87 27.05 21.32 22.42 12.44 15.35 ¥18.61 ¥5.42 ¥6.85 ¥1.18 ¥1.75 20.53 23.09 17.76 ¥1.25 ¥2.04 5.39 4.81 ¥0.37 ¥1.19 ¥1.45 14.15 ¥3.12 0.06 ¥10.37 ¥0.82 ¥4.34 11.59 2.87 5.52 0.26 ¥4.28 2.28 ¥0.12 ¥1.59 ¥0.49 0.71 ¥0.80 ¥31.60 ¥11.40 ¥5.43 0.42 ¥1.42 ¥11.32 ¥4.05 ¥15.76 .......................... ¥62,118 ¥43,404 .......................... ¥46,312 ¥28,353 .......................... ¥21,710 ¥3,732 .......................... 17,976 16,679 .......................... ¥6,146 ¥2,579 .......................... ¥4,035 1,990 .......................... 30,735 33,795 .......................... 20,386 34,419 .......................... 44,255 54,156 .......................... 2,054 10,415 .......................... 5,904 9,141 .......................... ¥69,081 ¥65,948 .......................... ¥48,008 ¥45,804 .......................... 11,739 11,295 .......................... .......................... .......................... 767 6 ¥8 ¥6 ¥14 ¥8 ¥27 ¥69 ¥82 * ¥19 ¥278 ¥22 1,117 ¥583 3,478 ¥331 ¥364 ¥144 ¥113 ¥153 ¥44 ¥61 53 ¥240 ¥9 ¥21 ¥20 ¥22 ¥1,351 ¥2,605 ¥16,733 ¥10 ¥54 50 26 ¥13 ¥4 ¥4 110 ¥205 ¥8 ¥17 ¥6 ¥21 199 ¥684 ¥14,765 25 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) ¥5,136 ¥13,796 ¥10,609 ¥5,958 ¥6,385 2,956 ¥13,551 ¥3,543 ¥29,506 ¥5,110 ¥3,596 743 ¥34 ¥888 ¥1,850 3,400 ¥1,107 ¥3,175 ¥3,039 4,426 768 2,427 ¥1,647 2,076 2,238 ¥4,056 ¥4,104 ¥6,392 ¥2,248 ¥8,253 12,043 ¥15,322 ¥8,651 ¥25,824 ¥35,305 ¥20,849 ¥7,434 22 ¥56 1 Total disbursements to date ($ thousands) Original Subsidy Rate FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Boll Weevil Eradication FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Farm Ownership FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Soil and Water FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ 31.90 29.34 30.41 24.03 23.60 15.53 24.53 13.45 20.39 13.83 12.94 10.94 1.24 1.18 1.44 ¥4.38 ¥0.78 ¥2.18 ¥2.70 ¥6.07 ¥5.68 ¥18.09 22.64 8.50 9.81 22.31 19.04 21.03 13.04 14.97 3.77 10.77 2.63 11.61 22.08 5.35 5.12 8.11 16.32 14.06 24.22 21.36 22.98 17.80 21.53 17.51 9.35 7.32 ¥10.73 ¥3.35 ¥2.66 12.61 1.15 ¥1.04 ¥0.41 ¥0.98 ¥1.95 ¥5.54 ¥5.77 ¥1.54 ¥4.70 ¥1.35 20.13 11.64 12.60 14.94 14.32 12.89 10.25 9.82 9.10 1.22 ¥2.36 ¥4.12 ¥3.13 ¥2.60 0.71 9.09 13.60 14.09 ¥0.59 ¥1.24 ¥0.07 10.61 11.83 5.08 ¥3.80 ¥4.52 ¥9.42 ¥1.02 ¥1.88 0.28 0.13 22.91 ¥1.37 3.49 ¥3.69 ¥6.46 ¥6.72 ¥1.53 0.37 1.71 ¥2.27 6.38 7.95 1.17 1.16 2.14 8.09 5.73 10.20 ¥6.80 ¥1.91 ¥8.04 ¥0.57 ¥4.40 ¥0.68 ¥2.68 ¥9.30 3.72 ¥7.09 ¥6.74 ¥7.36 ¥16.84 ¥13.90 ¥3.10 ¥11.38 ¥1.61 ¥21.70 ¥16.16 ¥13.72 1.39 ¥0.22 ¥25.13 ¥0.48 ¥0.09 2.52 3.10 3.65 6.06 0.61 15.03 ¥0.24 ¥3.24 ¥5.16 ¥8.54 ¥5.88 ¥10.28 ¥10.88 ¥10.88 ¥4.87 ¥2.75 ¥3.08 ¥7.69 ¥24.64 ¥3.55 ¥3.73 3.66 6.58 ¥3.69 ¥15 1,989 680 476 4,170 804 520 ¥592 ¥1,861 ¥160 ¥1,098 779 ¥* 242 ¥46 6,858 8,776 1,339 ¥2,205 ¥1,182 ¥1,330 2,540 ¥405 ¥1,105 ¥922 1,683 2,776 1,033 2,014 ¥601 2,112 ¥1,349 ¥15,316 ¥788 ¥2,322 ¥9,695 ¥7,795 21 9 ¥74 ¥6,410 ¥18,049 ¥14,220 ¥8,062 ¥3,792 1,054 ¥14,811 ¥4,125 ¥31,477 ¥5,495 ¥3,792 779 ¥396 758 ¥4,230 7,954 790 ¥3,065 ¥2,296 5,281 755 2,540 ¥2,201 1,674 ¥893 ¥4,293 ¥4,493 ¥8,422 ¥3,138 ¥11,411 8,895 ¥19,295 ¥11,141 ¥27,329 ¥38,319 ¥22,092 ¥7,795 269 187 381 66,875 172,884 142,781 95,639 308,461 149,299 89,270 57,800 94,815 29,743 23,050 44,478 37,277 40,000 100,000 100,000 94,628 94,495 99,000 97,695 78,395 14,500 65,611 66,128 80,218 55,033 86,955 78,529 80,585 160,245 225,954 160,440 173,368 164,168 140,044 262,256 168,563 2,257 2,052 3,141 26 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Seed Loans to Producers FY 2001 ................................................................................................ Farm Storage Facility Loan Program FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Apple Loan Program FY 2001 ..................................................................................................... Emergency Boll Weevil Loans FY 2001 ..................................................................................................... Rural Community Advancement Program: Business and Industry Loans FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ Community Facility Loans FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Water and Waste Disposal Loans FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ 10.96 2.85 2.14 2.42 1.28 1.22 ¥1.43 ¥0.62 5.01 60.00 15.78 ¥1.66 6.48 ¥1,591 708 1,317 27,318 58,312 78,272 48,592 58,607 57,283 64,849 26,228 11,423 10,000 ¥2.84 0.25 ¥5.94 ¥1.74 0.30 ¥4.18 ¥2.57 ¥6.04 1.05 ¥0.73 ¥6.37 4.36 2.33 ¥1.92 3.03 0.52 1.24 0.71 (4) .......................... .......................... ¥3.12 98.32 0.44 (5) ¥8.57 .......................... ¥3,436 ¥3,318 .......................... ¥3,263 ¥3,037 .......................... ¥2,260 ¥2,417 .......................... ¥1,209 ¥1,181 .......................... 559 531 .......................... 328 315 .......................... .......................... .......................... ¥9 ¥867 4,676 ¥929 3,832 38.32 .......................... 0.51 ¥7.16 ¥14.64 ¥14.16 5.82 10.60 8.14 12.57 12.14 16.80 8.73 8.38 13.74 6.06 11.69 5.43 6.24 ¥0.71 4.05 3.35 14.10 12.69 16.18 15.28 22.50 57.71 40.48 51.84 57.17 62.33 ¥16.21 ¥10.90 2.50 ¥2.20 2.77 73.41 58.54 63.98 73.53 53.74 .......................... .......................... .......................... .......................... .......................... 8,171 11,072 18,959 22,656 28,522 6,037 9,314 16,521 19,577 25,643 10,554 19,552 24,851 28,828 45,377 8.48 3.12 ¥5.24 10.44 6.84 ¥4.54 14.34 3.92 ¥2.15 12.42 3.35 ¥3.07 10.47 ¥2.90 ¥3.43 9.91 3.47 ¥2.29 12.11 3.88 ¥0.15 9.91 ¥0.97 ¥2.86 6.41 1.79 ¥1.44 3.44 ¥6.97 ¥1.28 3.16 ¥3.31 1.04 5.40 ¥3.47 2.63 0.07 ¥0.28 1.06 3.94 ¥1.12 1.01 (4) .......................... .......................... 14.01 17.06 16.21 14.62 14.83 4.93 9.17 4.69 2.90 ¥5.12 ¥5.02 ¥4.80 ¥4.66 ¥3.56 ¥2.56 .......................... ¥3,897 ¥1,732 81,704 .......................... 1,134 2,129 92,568 .......................... 1,715 2,700 152,542 .......................... ¥624 449 160,292 .......................... ¥15,613 ¥11,403 180,148 .......................... 1,755 1,432 121,345 .......................... 7,558 6,480 173,717 .......................... ¥6,306 ¥5,431 141,805 .......................... 611 576 164,693 .......................... ¥23,537 ¥20,847 252,695 .......................... ¥6,666 ¥5,994 264,070 .......................... ¥1,478 ¥1,363 162,296 .......................... 1,129 1,068 136,933 .......................... ¥54 ¥51 46,438 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥9,947 13,436 ¥11,472 ¥16,726 ¥53,446 ¥495 24,800 ¥114 ¥5,103 ¥42,380 550,277 596,007 648,859 773,220 552,541 27 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY FY FY FY FY 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ 9.02 9.76 16.52 7.10 13.59 6.88 11.34 3.33 9.00 6.91 12.62 6.38 ¥2.78 12.91 4.90 ¥1.75 12.31 ¥2.09 ¥2.12 10.95 5.40 ¥1.55 6.97 ¥5.93 ¥0.69 5.78 ¥2.28 1.18 8.79 ¥4.20 1.65 3.43 ¥0.44 0.54 8.48 ¥0.24 ¥0.28 (4) .......................... .......................... .......................... 27,865 27,428 761,890 .......................... 23,096 22,849 727,683 .......................... ¥32,794 ¥27,582 655,152 .......................... 27,063 25,108 652,164 .......................... ¥44,075 ¥39,208 598,596 .......................... ¥8,919 ¥8,047 731,535 .......................... ¥10,089 ¥9,344 366,425 .......................... 189 179 179,413 .......................... ¥195 ¥185 35,612 .......................... .......................... .......................... .......................... Rural Utilities Service: Distance Learning and Telemedicine Loans FY 1998 ..................................................................................................... FY 2000 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Broadband Treasury Loans FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans FY 1992 ............................................................................................ FY 1993 ............................................................................................ FY 1994 ............................................................................................ FY 1995 ............................................................................................ FY 1996 ............................................................................................ FY 1997 ............................................................................................ FY 1998 ............................................................................................ FY 1999 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ 0.02 0.35 ¥1.15 .......................... 1.42 1.50 ¥0.61 ¥0.07 2.22 2.18 2.13 2.15 ¥9.39 1.92 ¥11.33 79.39 ¥0.81 79.85 ¥1.02 ¥0.16 0.29 0.39 ¥1.24 1.63 (4) .......................... .......................... (4) .......................... .......................... 2.61 ¥2.44 5.66 4.01 ¥3.42 7.50 1.09 ¥1.86 0.73 2.56 ¥1.11 1.49 (4) .......................... .......................... (4) .......................... .......................... .......................... ¥316 ¥294 3,122 .......................... 4,432 3,538 4,476 .......................... 13 13 10,362 .......................... 50 48 12,351 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 2,677 2,333 72,438 .......................... 2,345 2,092 51,271 .......................... ¥391 ¥370 32,713 .......................... 176 168 44,195 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 18.82 12.84 17.11 13.09 23.37 5.27 7.46 13.04 0.90 9.96 2.98 5.71 ¥2.33 3.04 0.92 15.31 2.46 ¥5.97 15.14 7.20 ¥4.90 16.04 3.21 ¥4.28 11.47 5.91 ¥7.53 11.82 ¥9.73 ¥1.82 7.63 8.56 ¥6.20 7.24 3.95 ¥4.17 7.44 ¥2.07 ¥3.53 6.11 7.19 ¥1.98 ¥0.17 ¥7.84 ¥2.29 ¥1.29 ¥5.40 1.13 1.70 ¥6.83 2.82 ¥2.79 ¥1.46 1.00 3.15 ¥0.83 0.94 (4) .......................... .......................... .......................... ¥34,053 ¥19,816 564,554 .......................... 3,628 19,194 834,525 .......................... ¥3,073 ¥1,100 102,780 .......................... ¥2,923 ¥1,198 73,973 .......................... ¥12,236 ¥9,967 86,299 .......................... 1,450 1,527 64,708 .......................... ¥729 ¥274 124,414 .......................... ¥4,619 ¥3,935 70,270 .......................... 6,791 5,977 114,723 .......................... ¥11,541 ¥10,071 99,416 .......................... ¥3,687 ¥3,335 78,108 .......................... ¥1,954 ¥1,840 45,879 .......................... ¥248 ¥236 51,374 .......................... 3 3 3,000 .......................... .......................... .......................... .......................... 28 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Municipal Electric Loans FY 1994 ............................................................................................ FY 1995 ............................................................................................ FY 1996 ............................................................................................ FY 1997 ............................................................................................ FY 1998 ............................................................................................ FY 1999 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ FFB Electric Loans FY 1992 ............................................................................................ FY 1993 ............................................................................................ FY 1994 ............................................................................................ FY 1995 ............................................................................................ FY 1996 ............................................................................................ FY 1997 ............................................................................................ FY 1998 ............................................................................................ FY 1999 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ Treasury Electric Loans FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ Telephone: Telecommunication Hardship Loans FY 1992 ............................................................................................ FY 1993 ............................................................................................ FY 1994 ............................................................................................ FY 1995 ............................................................................................ FY 1996 ............................................................................................ 11.26 8.58 10.44 6.20 4.22 8.76 3.67 6.95 ¥0.09 4.03 ¥2.42 1.35 5.05 1.80 4.51 0.96 ¥0.03 0.84 0.93 0.92 ¥0.38 ¥1.18 ¥3.09 ¥1.13 ¥1.82 ¥1.99 ¥2.23 ¥0.48 .......................... ¥0.04 ¥0.04 ¥0.06 ¥0.05 0.01 16.84 11.66 16.04 7.91 19.59 14.10 9.73 ¥6.89 10.98 11.18 ¥8.78 15.52 10.25 ¥5.17 14.54 14.10 ¥5.76 12.30 12.59 ¥4.51 12.07 8.81 ¥5.50 22.81 17.73 1.41 22.48 13.08 2.45 7.50 10.45 ¥2.86 13.31 6.15 3.13 2.17 4.48 0.11 2.03 ¥0.93 1.61 (4) .......................... .......................... 4.03 1.30 0.93 ¥1.02 4.81 ¥10.34 0.55 15.23 ¥15.64 ¥1.44 8.71 ¥10.12 ¥1.10 6.23 ¥8.17 ¥3.46 1.90 ¥6.29 ¥1.34 3.52 ¥5.78 4.13 1.62 2.89 1.13 5.92 ¥3.61 0.23 10.55 ¥7.23 ¥0.52 1.41 ¥0.80 ¥1.16 ¥0.23 0.89 ¥1.28 0.74 ¥0.03 ¥0.98 ¥1.43 2.68 (4) .......................... .......................... ¥0.14 2.22 ¥2.36 2.03 2.73 ¥0.66 0.55 ¥2.38 2.97 ¥1.14 ¥1.91 0.83 3.04 2.40 0.69 (4) .......................... .......................... 10.38 10.31 5.80 4.13 8.55 3.54 6.45 ¥0.72 5.66 ¥8.49 ¥10.00 ¥7.80 ¥9.52 ¥9.44 ¥2.55 .......................... 11,517 10,634 374,439 .......................... 10,252 11,336 472,329 .......................... 28,157 26,060 512,984 .......................... 39,545 36,675 439,744 .......................... 43,685 39,413 487,786 .......................... 10,811 9,764 294,990 .......................... 65,100 56,180 293,523 .......................... 48,667 45,069 290,207 .......................... 35,535 33,991 447,844 .......................... 5,680 5,237 56,436 .......................... 10,303 9,792 213,325 .......................... 14 14 2,000 .......................... .......................... .......................... .......................... .......................... 32,230 15,960 715,687 .......................... ¥42,841 ¥42,706 772,252 .......................... ¥923 ¥1,000 243,999 .......................... ¥6,027 ¥4,176 296,148 .......................... ¥3,934 ¥3,489 179,858 .......................... ¥14,801 ¥12,501 284,765 .......................... ¥7,264 ¥5,694 251,959 .......................... 51,395 46,107 1,022,329 .......................... 41,538 36,591 1,584,040 .......................... 58,278 52,885 1,592,911 .......................... 13,851 14,432 2,365,902 .......................... 10,629 10,084 1,527,878 .......................... 4,219 4,022 566,441 .......................... 150 143 11,422 .......................... .......................... .......................... .......................... .......................... ¥1,134 ¥687 490,725 .......................... 13,896 12,912 623,771 .......................... 3,594 3,395 575,442 .......................... ¥3,250 ¥3,076 284,860 .......................... 2,353 2,233 72,275 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥15,257 ¥5,246 ¥7,363 ¥2,668 ¥8,137 ¥11,265 ¥2,998 ¥5,617 ¥1,541 ¥6,225 174,380 222,047 54,851 40,764 56,388 29 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY 1997 ............................................................................................ FY 1998 ............................................................................................ FY 1999 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ FFB Telecommunications Loans FY 1992 ............................................................................................ FY 1993 ............................................................................................ FY 1994 ............................................................................................ FY 1995 ............................................................................................ FY 1996 ............................................................................................ FY 1997 ............................................................................................ FY 1998 ............................................................................................ FY 1999 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ Treasury Telecommunication Loans FY 1994 ............................................................................................ FY 1995 ............................................................................................ FY 1996 ............................................................................................ FY 1997 ............................................................................................ FY 1998 ............................................................................................ FY 1999 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ FFB Guaranteed Underwriting FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... 1.59 3.92 9.79 1.12 10.36 2.32 1.71 ¥4.44 ¥1.21 ¥1.80 .......................... 0.08 ¥4.01 ¥3.91 ¥0.05 ¥0.07 ¥0.07 ¥0.81 ¥0.46 ¥2.04 ¥0.85 ¥2.36 ¥1.85 ¥1.95 ¥1.57 0.02 0.02 0.02 0.02 0.02 0.27 0.79 ¥1.00 0.10 0.05 0.05 0.04 0.05 .......................... ¥1.26 4.22 7.54 ¥4.91 2.91 3.28 ¥4.29 2.28 ¥5.09 ¥2.42 ¥0.19 2.92 ¥4.23 5.35 ¥6.20 1.19 ¥0.78 ¥4.18 1.08 ¥1.12 ¥2.86 0.03 ¥6.12 ¥0.55 ¥1.13 (4) .......................... .......................... (4) .......................... .......................... 0.59 8.13 ¥7.54 ¥2.50 2.10 ¥4.68 3.13 20.14 ¥13.00 ¥4.69 9.74 ¥10.52 ¥0.10 ¥2.46 2.41 8.81 25.24 ¥16.36 ¥0.29 1.50 ¥1.72 ¥0.33 ¥0.24 0.72 1.12 6.13 ¥4.55 1.48 0.68 2.84 3.59 2.07 2.37 4.37 9.37 ¥2.64 ¥1.08 1.32 ¥0.55 ¥2.23 1.13 ¥1.41 (4) .......................... .......................... ¥2.59 2.84 ¥5.45 ¥5.52 6.05 ¥11.59 ¥6.47 4.72 ¥11.21 ¥0.59 4.72 ¥5.33 ¥2.36 1.68 ¥4.06 0.31 0.23 ¥0.19 0.79 2.27 ¥2.27 ¥1.46 ¥0.19 ¥0.27 0.27 ¥2.30 2.47 ¥1.54 ¥1.57 ¥0.02 ¥3.68 1.30 ¥5.03 ¥0.49 0.31 ¥0.84 (4) .......................... .......................... .......................... 1,301 1,467 55,774 .......................... ¥897 ¥591 58,497 .......................... ¥3,984 ¥3,358 44,711 .......................... ¥606 ¥527 40,225 .......................... ¥1,305 ¥1,166 23,265 .......................... ¥620 ¥565 18,226 .......................... ¥492 ¥462 16,320 .......................... ¥373 ¥357 21,231 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥696 193 32,628 .......................... ¥1,418 ¥1,260 48,837 .......................... 3,772 2,852 39,951 .......................... 715 ¥414 53,089 .......................... ¥160 ¥20 40,621 .......................... 3,335 3,211 36,156 .......................... ¥49 ¥50 22,588 .......................... 126 101 20,989 .......................... 1,202 1,068 67,593 .......................... 1,542 1,382 39,249 .......................... 2,285 2,150 48,414 .......................... 6,239 6,134 91,149 .......................... 1,026 974 126,433 .......................... ¥133 ¥127 45,524 .......................... .......................... .......................... .......................... .......................... ¥4,270 ¥3,462 132,648 .......................... ¥13,335 ¥9,188 165,845 .......................... ¥11,469 ¥7,615 117,341 .......................... ¥641 ¥628 102,962 .......................... ¥4,992 ¥3,864 162,363 .......................... 162 46 114,765 .......................... 94 .......................... 148,536 .......................... ¥594 ¥549 119,275 .......................... 141 129 75,648 .......................... ¥855 ¥801 50,372 .......................... ¥1,537 ¥1,476 39,570 .......................... ¥154 ¥146 27,624 .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... 30 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Rural Telephone Bank Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... Rural Housing Service: Rural Housing Insurance Fund: Single-Family Housing Credit Sales FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Multi-Family Housing Credit Sales FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ 2.05 0.02 0.39 0.44 2.87 1.32 2.12 2.65 1.88 1.48 2.14 1.38 ¥4.32 ¥1.83 ¥1.08 ¥4.98 ¥5.70 ¥5.08 ¥2.23 ¥9.89 ¥5.22 ¥0.97 ¥2.16 ¥4.36 0.79 0.89 ¥4.41 ¥3.06 3.53 2.07 6.60 6.24 ¥2.70 ¥4.46 ¥2.89 ¥3.34 ¥2.16 ¥5.77 ¥1.77 ¥1.06 ¥0.11 ¥0.09 ¥6.66 ¥7.07 ¥12.69 ¥11.76 ¥2.40 ¥6.75 ¥4.45 ¥0.28 ¥1.88 ¥0.07 0.42 0.57 0.02 ¥1.14 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥6,444 ¥8,240 ¥9,641 ¥4,971 ¥2,970 ¥4,022 ¥5,082 ¥1,157 ¥2,280 ¥1,933 ¥196 ¥24 ¥29 ¥153 ¥3,031 ¥4,001 ¥5,940 ¥3,754 ¥1,854 ¥3,507 ¥4,349 ¥1,013 ¥2,083 ¥1,804 ¥182 ¥22 ¥27 ¥146 96,833 80,028 97,533 68,002 36,349 31,287 59,252 27,988 51,567 30,888 13,474 4,436 30,405 11,883 14.69 11.51 16.26 8.87 13.97 9.02 6.08 ¥3.23 ¥4.82 ¥9.58 ¥17.46 ¥16.23 ¥14.53 50.55 13.97 48.31 39.54 49.03 42.17 46.68 44.20 48.44 45.40 13.03 ¥0.13 ¥1.53 10.12 0.47 ¥1.86 16.52 ¥0.32 0.58 14.30 1.21 4.22 11.14 ¥1.31 ¥1.52 12.23 1.60 1.61 12.28 3.59 2.61 ¥2.03 ¥2.16 3.36 ¥0.51 ¥4.77 9.08 ¥5.48 ¥8.32 12.42 ¥5.96 ¥5.61 17.11 ¥2.23 ¥6.52 20.52 (4) .......................... .......................... 58.79 9.49 ¥1.25 45.84 18.25 13.62 45.82 ¥2.19 ¥0.30 47.93 12.44 ¥4.05 44.18 ¥5.14 0.29 47.41 1.19 4.05 37.25 ¥3.07 ¥6.36 40.36 1.35 ¥5.19 36.14 ¥6.87 ¥5.43 (4) .......................... .......................... .......................... ¥8,766 ¥3,107 187,175 .......................... ¥4,606 ¥2,295 165,087 .......................... 3,318 319 122,655 .......................... 1,821 1,010 18,611 .......................... ¥163 ¥600 21,184 .......................... 771 501 15,592 .......................... 490 395 6,373 .......................... 79 36 2,972 .......................... 149 101 2,348 .......................... 32 30 737 .......................... 103 99 862 .......................... 104 101 718 .......................... .......................... .......................... .......................... .......................... 405 349 4,234 .......................... 248 315 988 .......................... ¥81 ¥99 3,961 .......................... 85 80 958 .......................... ¥95 ¥86 1,779 .......................... 99 93 1,775 .......................... ¥200 ¥187 1,988 .......................... ¥17 ¥15 401 .......................... ¥176 ¥168 1,368 .......................... .......................... .......................... .......................... 31 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Section 502 Single-Family Housing FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Direct 502 Manufactured Home Disaster Demo FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Section 504 Housing Repair FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Sec 515 Multi-Family Housing FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ 22.64 18.75 20.10 24.36 14.30 14.18 12.81 11.82 8.53 16.06 13.16 19.37 9.27 11.58 11.39 20.07 17.68 17.92 .......................... .......................... .......................... 42.92 38.22 37.61 39.61 37.55 36.63 34.36 35.23 30.56 35.44 32.13 31.02 27.46 29.06 29.25 43.30 49.55 58.06 54.55 17.15 ¥0.48 ¥5.01 12.70 5.12 ¥11.17 17.12 2.57 ¥5.55 18.44 ¥0.48 ¥5.44 15.78 2.08 ¥0.60 15.12 1.48 ¥0.54 14.46 1.21 0.44 13.88 3.45 ¥1.39 14.55 7.02 ¥1.00 9.95 ¥6.29 0.18 6.95 ¥3.60 ¥2.61 4.60 ¥1.94 ¥12.83 11.29 1.75 0.27 3.72 ¥2.56 ¥5.30 (4) .......................... .......................... .......................... ¥155,353 ¥67,982 1,238,296 .......................... ¥132,171 ¥76,795 1,269,332 .......................... ¥105,668 ¥48,771 1,636,603 .......................... ¥70,458 ¥54,460 919,926 .......................... 10,643 14,719 994,496 .......................... 8,780 6,326 672,979 .......................... 24,155 15,964 967,534 .......................... 24,483 19,164 930,275 .......................... 80,257 66,428 1,103,453 .......................... ¥62,967 ¥63,197 1,034,315 .......................... ¥69,497 ¥63,723 1,026,139 .......................... ¥153,379 ¥143,257 969,916 .......................... 26,972 25,358 1,255,358 .......................... ¥70,120 ¥67,120 853,939 .......................... .......................... .......................... .......................... ¥8.99 ¥5.32 ¥23.74 .......................... ¥94 ¥74 256 0.42 ¥3.93 ¥13.33 .......................... ¥87 ¥72 416 ¥23.99 ¥7.33 ¥34.58 .......................... ¥91 ¥80 191 (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... 28.87 0.55 ¥14.60 26.71 1.84 ¥13.35 29.10 0.21 ¥8.72 30.65 ¥0.49 ¥8.47 29.19 ¥0.12 ¥8.24 29.99 0.33 ¥6.97 25.32 ¥0.52 ¥8.52 25.71 ¥1.71 ¥7.81 26.65 5.02 ¥8.93 24.48 ¥4.26 ¥6.70 24.48 ¥3.46 ¥4.19 21.54 ¥5.56 ¥3.92 24.60 ¥0.64 ¥2.22 26.26 ¥2.15 ¥0.65 (4) .......................... .......................... 56.59 56.51 58.44 53.36 ¥3.17 6.16 2.40 2.99 16.46 0.80 ¥2.02 ¥4.18 .......................... ¥1,891 ¥1,549 11,024 .......................... ¥1,558 ¥1,320 11,468 .......................... ¥2,327 ¥2,068 24,310 .......................... ¥2,836 ¥2,540 28,345 .......................... ¥3,431 ¥2,791 33,367 .......................... ¥2,338 ¥1,909 28,766 .......................... ¥3,149 ¥2,551 28,209 .......................... ¥2,953 ¥2,239 23,512 .......................... ¥1,636 ¥978 25,009 .......................... ¥3,671 ¥3,118 28,462 .......................... ¥2,827 ¥2,443 31,954 .......................... ¥3,045 ¥2,828 29,842 .......................... ¥957 ¥885 30,993 .......................... ¥886 ¥849 30,380 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 68,276 31,749 ¥8,164 ¥6,435 74,990 39,350 1,920 ¥2,140 564,262 565,371 505,323 179,792 32 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Section 523 Self-Help Site Development FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Section 524 Site Development FY 2001 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Multifamily Housing Revitalization Soft Seconds FY 2006 ................................................................................................ Section 514 Farm Labor Housing FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Multi-family Housing Revitalization FY 2005 ..................................................................................................... 53.80 51.24 45.85 48.25 39.68 49.27 42.32 46.63 43.01 47.09 45.88 5.61 5.57 4.41 3.08 ¥0.47 1.03 ¥0.12 1.09 ¥0.03 ¥4.94 ¥3.51 87.52 55.21 45.48 50.00 52.48 56.80 47.77 49.25 52.03 45.23 52.59 47.31 49.02 42.73 47.06 44.59 46.76 53.64 ¥2.57 2.41 48.27 3.62 ¥6.59 46.92 7.49 ¥6.42 47.99 ¥1.23 0.97 45.92 4.47 1.77 44.93 ¥7.15 2.81 43.77 ¥1.83 3.28 44.22 ¥3.12 0.71 39.51 ¥0.23 ¥3.27 39.73 1.87 ¥9.23 (4) .......................... .......................... 13.69 0.55 7.53 0.22 ¥4.00 ¥1.35 ¥0.80 ¥2.82 ¥2.39 0.98 ¥0.59 ¥1.51 4.27 0.40 4.34 (4) .......................... .......................... 2.73 ¥3.04 5.89 ¥0.22 ¥1.04 ¥0.27 ¥4.91 0.62 ¥5.50 ¥4.10 1.09 ¥0.25 (4) .......................... .......................... .......................... ¥2,456 ¥235 146,926 .......................... ¥5,856 ¥3,731 125,607 .......................... 1,305 1,277 119,301 .......................... ¥97 ¥284 109,161 .......................... 7,069 6,408 102,697 .......................... ¥5,183 ¥4,690 108,063 .......................... 1,297 1,207 83,270 .......................... ¥2,010 ¥1,837 76,210 .......................... ¥1,433 ¥1,349 38,546 .......................... ¥197 ¥186 2,531 .......................... .......................... .......................... .......................... .......................... 122 101 1,248 .......................... ¥219 ¥207 3,874 .......................... ¥54 ¥51 978 .......................... ¥51 ¥49 2,348 .......................... 113 109 2,295 .......................... .......................... .......................... .......................... .......................... 47 36 1,250 .......................... ¥14 ¥13 1,007 .......................... ¥136 ¥131 2,685 .......................... 3 3 380 .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... 51.49 ¥0.37 ¥3.35 54.84 8.63 0.73 57.35 4.11 3.24 53.60 2.19 ¥1.07 53.66 ¥3.20 0.06 50.63 3.68 ¥0.82 52.00 0.96 1.79 50.28 ¥4.89 3.14 46.83 0.68 0.92 47.39 ¥7.11 1.91 44.68 ¥2.98 0.35 47.64 ¥4.35 2.97 45.13 ¥0.10 2.50 49.26 ¥0.63 2.83 (4) .......................... .......................... .......................... ¥1,120 ¥588 15,804 .......................... 1,893 1,508 16,112 .......................... 1,966 1,149 15,627 .......................... 156 169 15,052 .......................... ¥346 ¥466 14,830 .......................... 517 432 15,090 .......................... 527 399 14,515 .......................... ¥332 ¥317 18,122 .......................... 536 397 24,827 .......................... ¥1,208 ¥1,114 21,426 .......................... ¥624 ¥576 21,918 .......................... ¥101 ¥95 6,913 .......................... 42 40 1,655 .......................... 15 14 635 .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... 33 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY 2006 ..................................................................................................... Multi-family Housing Relending Program FY 2006 ..................................................................................................... Rural Business — Cooperative Service: Intermediary Relending Program FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Rural Economic Development Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Foreign Agricultural Service: P.L. 480 Direct Credits FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... 46.76 46.76 (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... 50.03 54.22 57.54 54.02 59.50 46.48 48.25 50.35 43.43 50.91 43.21 48.26 43.27 46.38 43.02 30.29 25.82 25.42 24.92 28.48 22.93 23.91 25.22 23.02 26.07 24.16 21.36 18.61 18.79 19.97 49.98 8.38 ¥8.43 51.66 1.03 ¥3.59 51.67 ¥3.81 ¥2.06 47.56 ¥1.89 ¥4.57 46.88 ¥8.37 ¥4.25 46.50 3.15 ¥3.13 46.65 0.58 ¥2.18 46.80 ¥2.61 ¥0.94 45.07 2.16 ¥0.52 44.26 ¥6.71 0.06 42.41 ¥2.11 1.31 44.81 ¥3.60 0.15 41.66 ¥0.84 ¥0.77 45.37 ¥1.51 0.50 (4) .......................... .......................... 27.03 ¥1.74 ¥1.52 27.63 1.50 0.31 27.73 3.15 ¥0.84 25.29 2.44 ¥2.07 18.83 ¥0.13 ¥9.52 23.60 3.29 ¥2.62 24.22 1.93 ¥1.62 23.31 0.93 ¥2.84 23.50 3.45 ¥2.97 18.34 ¥4.15 ¥3.58 17.23 ¥6.92 ¥0.01 17.13 ¥4.14 ¥0.09 17.79 ¥0.56 ¥0.26 18.49 ¥0.17 ¥0.13 (4) .......................... .......................... .......................... ¥196 ¥16 32,500 .......................... ¥1,187 ¥829 32,390 .......................... ¥5,738 ¥4,477 76,267 .......................... ¥7,376 ¥5,333 82,558 .......................... ¥5,188 ¥4,152 32,902 .......................... ¥235 7 33,372 .......................... ¥682 ¥449 28,042 .......................... ¥1,271 ¥1,006 28,343 .......................... 591 552 33,671 .......................... ¥2,089 ¥1,821 27,380 .......................... ¥192 ¥171 21,415 .......................... ¥769 ¥715 20,716 .......................... ¥209 ¥198 12,291 .......................... ¥14 ¥13 1,313 .......................... .......................... .......................... .......................... .......................... ¥157 ¥226 6,936 .......................... 353 221 12,189 .......................... 406 302 13,068 .......................... ¥135 42 11,318 .......................... ¥1,615 ¥1,183 12,260 .......................... 58 75 11,142 .......................... 39 71 22,912 .......................... ¥332 ¥240 12,590 .......................... 29 63 13,155 .......................... ¥1,569 ¥1,407 18,202 .......................... ¥996 ¥919 13,257 .......................... ¥573 ¥544 12,870 .......................... ¥85 ¥81 9,929 .......................... ¥15 ¥15 4,930 .......................... .......................... .......................... .......................... 67.10 58.75 76.54 81.19 79.65 55.18 37.80 56.45 59.01 54.56 ¥2.66 3.03 0.76 ¥1.35 ¥3.78 ¥9.26 ¥23.98 ¥20.85 ¥20.83 ¥21.31 ¥4,697 ¥7,581 ¥17,017 ¥10,124 ¥1,555 ¥109,034 ¥417,978 ¥92,752 ¥69,888 ¥84,800 ¥47,057 ¥183,356 ¥47,800 ¥40,241 ¥52,723 384,029 853,948 234,327 179,855 205,793 34 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY FY FY FY FY 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... Department of Commerce 70.87 67.03 76.45 50.56 60.76 76.18 56.80 57.17 58.84 54.14 54.20 ¥1.16 ¥15.51 10,756 ¥43,235 ¥26,776 158,140 52.27 ¥2.60 ¥12.16 ¥4,871 ¥37,390 ¥24,858 168,928 44.63 ¥16.13 ¥15.69 ¥18,237 ¥260,665 ¥189,630 594,430 49.60 3.77 ¥4.73 778 ¥1,186 ¥797 81,534 57.28 2.65 ¥6.13 ¥1,968 ¥5,261 ¥3,480 104,461 58.78 ¥0.40 ¥17.00 112 ¥19,548 ¥18,513 107,138 52.86 ¥4.70 0.76 1,244 ¥2,438 ¥2,412 59,785 50.64 ¥0.61 ¥5.92 359 ¥3,127 ¥3,006 45,819 57.81 ¥3.28 2.25 ¥403 ¥403 ¥384 39,269 (4) .......................... .......................... .......................... .......................... .......................... .......................... National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Traditional Direct Loans FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ North East Initiative Loans FY 1998 ................................................................................................ FY 1999 ................................................................................................ Pollock Buyback Loan FY 1999 ................................................................................................ NE Groundfish Buyback FY 2003 ................................................................................................ 2.00 2.00 2.00 2.00 0.26 ¥12.03 ¥15.94 ¥18.45 ¥11.88 1.00 1.00 1.00 1.00 1.00 ¥15.66 ¥11.89 ¥5.49 ¥13.71 ¥8.07 5.00 5.00 1.00 ¥0.37 ¥11.97 ¥13.51 ¥11.75 ¥11.69 ¥18.19 ¥14.48 ¥18.59 ¥12.91 ¥21.09 0.17 ¥0.47 2.10 ¥3.14 ¥4.54 .......................... .......................... .......................... .......................... ¥14.14 ¥15.04 ¥15.85 ¥10.55 ¥13.91 ¥2.45 ¥2.65 5.54 ¥9.21 ¥11.52 ¥8.47 ¥8.09 ¥10.24 13.43 7.39 ¥0.59 ¥10.19 ¥2.19 ¥15.16 ¥11.50 ¥6.88 ¥9.20 48 36 38 20 35 30 26 44 ¥196 7 ¥3 ¥189 ¥1 36 ¥45 ¥90 ¥2,472 ¥946 ¥1,780 36 * 672 ¥533 ¥646 ¥434 ¥390 ¥612 ¥56 ¥94 172 ¥196 ¥2,013 ¥1,492 ¥1,632 ¥845 ¥897 328 ¥1,116 ¥6,580 ¥653 ¥1,780 ¥152 ¥32 ¥11,539 ¥542 ¥607 ¥452 ¥607 ¥779 ¥70 ¥87 162 ¥187 ¥1,898 ¥1,449 ¥1,816 ¥980 ¥981 378 ¥1,021 ¥6,227 ¥611 ¥1,705 ¥146 ¥31 ¥10,797 3,642 4,197 3,390 3,018 3,180 2,663 2,657 2,576 2,133 21,061 16,443 20,288 12,150 16,516 19,000 13,230 59,000 33,602 11,740 1,195 434 75,000 ¥7.46 3.06 ¥7.51 ¥0.04 ¥7.76 ¥0.67 ¥7.48 1.76 ¥4.85 ¥19.28 ¥13.45 ¥5.18 ¥19.20 ¥6.72 ¥16.46 ¥0.78 ¥15.90 .......................... ¥23.23 .......................... ¥6.32 ¥1.77 ¥12.89 0.18 0.11 ¥4.69 (4) .......................... .......................... .......................... .......................... .......................... .......................... 35 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Pacific Ground Fish Buyback FY 2003 ................................................................................................ Non-Pollock Buyback FY 2006 ................................................................................................ Bering Sea & Aleutian Island Crab Buyback FY 2002 ................................................................................................ Tuna Buyback FY 2003 ................................................................................................ Federal Gulf of Mexico Reef Fish Buyback FY 2005 ................................................................................................ Department of Defense Family Housing: Military Housing Improvement Fund FY 1998 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2006 ..................................................................................................... Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Subsidized Stafford FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ 1.08 1.00 ¥4.60 ¥11.89 1.28 0.10 (4) ¥25.05 ¥8.19 ¥7.23 6.25 ¥1,676 ¥475 ¥277 35,662 .......................... .......................... .......................... .......................... .......................... .......................... ¥7.30 ¥6.23 ¥13.15 9.93 ¥6,437 83 ¥20,823 1,546 ¥19,547 1,415 97,399 38,301 (4) .......................... .......................... .......................... .......................... .......................... .......................... 40.77 53.48 52.63 37.97 34.92 28.97 2.56 28.32 58.26 44.99 28.95 (4) 29.75 (4) ¥2.99 ¥9.46 ¥170 ¥1,655 ¥1,320 10,599 ¥0.88 5.66 ¥521 2,345 2,443 51,149 ¥1.26 ¥6.39 1,017 ¥6,758 ¥6,106 79,899 .......................... ¥9.02 ¥2,077 ¥2,077 ¥1,980 21,950 .......................... .......................... .......................... .......................... .......................... 58,600 .......................... 0.78 611 611 581 74,500 .......................... .......................... .......................... .......................... .......................... .......................... 10.00 8.82 2.56 3.09 1.70 ¥2.11 ¥8.96 ¥4.46 ¥3.88 ¥1.46 ¥0.62 3.47 5.80 18.30 17.38 12.51 9.14 (5) 8.81 (5) 7.76 (5) 7.56 (5) 5.88 (5) 6.18 ¥1.51 10.69 8.17 7.13 ¥1.62 4.74 0.89 2.52 4.23 4.30 ¥1.45 4.20 ¥2.56 3.06 .......................... 16.91 16.65 15.17 (5) (5) (5) ¥0.86 ¥0.01 5.20 4.47 4.18 9.80 11.48 13.21 7.74 ¥0.25 6.37 3.28 ¥2.73 ¥1.39 ¥0.73 2.66 2,986 27,953 182,380 166,129 145,142 295,995 494,866 643,868 724,404 759,229 740,610 518,540 ¥984,538 5,840 21,893 77,473 23,531 160,486 979,970 941,200 979,340 2,099,857 3,653,797 2,579,823 1,793,928 830,741 1,048,833 ¥3,675 ¥984,538 13,097 61,039 385,425 ¥12,157 ¥37,505 503,380 489,447 522,876 1,456,046 3,035,641 2,145,085 1,730,931 752,703 997,089 70,220 ¥939,504 ¥13,738 ¥70,383 132,991 821,000 4,948,000 9,454,000 11,131,000 12,520,000 17,786,000 16,004,000 18,115,000 20,094,000 18,527,000 20,222,000 28,424,214 27,520,318 536,000 2,898,000 5,083,000 36 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) 162,318 9,019 339,660 790,870 281,232 298,417 105,328 76,353 ¥77,778 ¥70,197 1,047 ¥17,889 203,796 127,923 168,237 396,309 1,013,146 590,452 525,835 211,253 112,239 8,414 ¥43,081 535 15,871 34,938 38,091 55,667 94,807 228,648 134,444 112,412 56,018 43,892 20,332 3,355 34,897 131,656 161,116 289,952 625,270 Total disbursements to date ($ thousands) Original Subsidy Rate FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Unsubsidized Stafford FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ PLUS FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Consolidated FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ 11.97 13.12 8.17 2.37 7.16 3.63 3.63 4.55 8.09 10.65 ¥5.84 ¥2.92 ¥12.97 ¥8.64 ¥9.22 ¥11.74 ¥23.26 ¥12.61 ¥12.05 ¥6.20 ¥5.00 ¥6.32 ¥7.56 ¥3.81 ¥5.35 ¥8.09 ¥7.69 ¥9.26 ¥10.40 ¥18.07 ¥9.49 ¥8.89 ¥6.53 ¥4.91 ¥4.00 ¥6.05 0.24 ¥0.83 ¥1.31 ¥4.88 ¥3.95 14.93 (5) 13.26 (5) 14.94 ¥1.81 16.77 6.92 12.66 ¥1.82 8.99 2.89 5.80 4.12 6.06 ¥1.02 6.97 ¥0.80 8.80 .......................... ¥5.84 (5) ¥4.64 (5) ¥5.00 (5) ¥4.37 (5) ¥4.44 (5) ¥0.39 ¥4.25 3.38 9.19 2.36 ¥2.17 0.50 3.32 ¥2.20 4.60 ¥2.74 ¥1.02 ¥6.15 ¥0.92 ¥9.07 .......................... ¥3.37 (5) ¥2.50 (5) ¥3.54 (5) ¥2.97 (5) ¥3.19 (5) ¥1.39 ¥2.15 1.77 6.43 1.33 ¥2.28 ¥0.62 3.23 ¥2.82 3.33 ¥2.68 ¥0.29 ¥2.98 ¥1.29 ¥5.88 .......................... 10.88 12.03 10.60 7.06 3.95 (5) (5) (5) (5) (5) 2.96 0.14 8.58 7.48 7.32 2.47 ¥1.95 2.53 ¥0.32 ¥1.85 ¥* ¥1.72 7.97 4.27 4.78 15.60 17.45 17.14 9.23 ¥0.60 3.28 1.09 ¥1.51 0.44 2.85 4.55 4.72 6.07 11.16 13.41 13.10 5.04 0.38 2.52 2.31 0.17 10.64 12.86 11.91 11.94 7.90 73,961 59,194 36,091 29,065 6,985 27,616 40,963 ¥11,824 ¥68,984 ¥73,353 4,229 13,720 42,706 48,747 41,038 21,113 23,892 31,101 77,916 160,967 199,441 67,625 ¥45,026 ¥7,082 ¥11,955 ¥11,594 ¥9,245 ¥5,767 ¥7,659 ¥7,742 987 15,528 35,188 56,137 54,589 3,500 4,295 73,795 52,666 50,678 246,449 363,753 172,459 473,669 911,748 319,508 245,226 92,041 53,859 ¥119,852 ¥73,353 10,778 19,397 317,180 253,011 298,514 515,096 1,138,983 640,415 455,784 204,259 96,049 ¥36,825 ¥45,026 ¥343 18,989 47,562 57,282 80,529 118,695 257,376 147,853 89,516 55,505 40,948 9,566 3,500 61,061 229,803 267,154 427,838 992,398 5,669,000 5,644,000 5,293,000 5,460,000 5,179,000 5,473,000 5,682,000 5,794,000 5,681,987 3,687,407 213,000 1,329,000 2,559,000 3,213,000 3,426,000 3,497,000 3,899,000 3,888,000 4,269,000 4,455,000 4,632,000 4,768,399 3,153,909 72,000 393,000 775,000 879,000 1,021,000 1,022,000 1,226,000 1,274,000 1,442,000 1,714,000 2,078,000 2,226,676 1,400,913 328,000 1,037,000 1,370,000 2,429,000 7,974,000 37 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) 1,002,977 1,138,958 794,267 380,104 764,606 119,252 ¥829,580 Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY FY 2000 2001 2002 2003 2004 2005 2006 ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ¥7.85 ¥7.03 ¥3.78 ¥1.42 ¥0.81 5.49 7.70 12.00 9.22 6.80 ¥1.16 5.00 ¥1.72 4.15 4.28 9.09 ¥2.86 6.94 ¥3.73 4.45 .......................... 10.63 14.99 10.50 1.29 12.76 5.18 ¥3.25 449,650 604,795 603,344 522,110 496,857 465,311 ¥869,658 1,345,691 1,472,047 1,003,402 478,936 857,976 143,437 ¥869,658 5,419,000 7,774,000 8,910,000 6,676,000 7,718,000 15,747,151 19,278,089 Office of Postsecondary Education: College Housing and Academic Facilities Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... Historically Black College and University Capital Financing Program FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1999 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Department of Health and Human Services Centers for Medicare and Medicaid Services: Health Care Infrastructure Improvement FY 2006 ..................................................................................................... Department of Homeland Security Federal Emergency Management Agency: Community Disaster Loans FY 1993 ..................................................................................................... FY 1996 ..................................................................................................... Special Community Disaster Loans FY 2006 ..................................................................................................... Department of the Interior Bureau of Reclamation: Reclamation Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... 25.13 10.09 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 12.60 13.24 0.48 0.60 9.89 40.02 8.30 3.42 ¥0.03 0.48 ¥10.84 3.77 (5) (5) (5) (5) (5) (5) (5) (5) ¥1.69 ¥0.62 0.48 0.60 9.89 40.02 8.30 3.42 ¥0.03 0.48 14 23 25 47 1,276 6,448 4,256 2,036 ¥10 67 ¥1,657 760 25 47 1,276 6,448 4,256 2,036 ¥10 67 ¥1,171 563 15 28 888 4,928 3,393 1,789 ¥9 64 9,344 17,871 3,389 4,968 9,495 12,963 42,959 54,581 33,856 13,856 100.00 (4) .......................... .......................... .......................... .......................... .......................... 140,000 25.00 87.26 75.00 91.97 6 100.00 (5) (5) 66.97 12.74 694 ¥286 37,333 8,533 25,390 16,130 36,461 127,816 628,579 (4) .......................... .......................... .......................... .......................... .......................... 55.21 57.75 62.06 56.55 44.38 48.05 58.75 59.01 74.28 54.77 56.21 31.40 2.77 ¥2.86 7.04 ¥3.87 6.17 6.33 0.77 4.11 5.17 2.08 5.66 ¥22.98 1 ¥1 1 ¥1 317 ¥* 185 195 4,929 ¥273 2,676 ¥3,336 106 81 2,497 ¥136 1,834 ¥1,887 3,004 6,434 20,434 7,585 15,504 11,335 38 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) 2,856 640 ¥3,049 ¥778 4,629 Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY 1998 1999 2000 2001 2002 ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... 53.78 42.81 34.53 50.66 51.86 65.79 47.52 21.57 45.39 68.74 ¥0.74 6.17 1.54 1.76 1.95 12.75 ¥1.47 ¥14.50 ¥7.03 14.93 ¥* 1 * * ¥* 4,269 865 ¥4,342 ¥954 4,211 23,771 13,599 23,522 14,760 27,419 Bureau of Indian Affairs: Indian Direct Loan FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... Departmental Offices: American Samoa Tobacco Loan FY 2001 ..................................................................................................... Department of State Bureau of Consular Affairs: Repatriation Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Department of Transportation Federal Highway Administration: Transportation Infrastructure Finance and Innovation: TIFIA Direct Loans FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2003 ................................................................................................ 19.30 19.80 22.81 22.81 62.26 12.42 46.21 39.43 (5) (5) (5) (5) 42.96 ¥7.38 23.40 16.62 1,559 ¥1,194 1,645 41 8,204 ¥1,360 4,505 1,274 4,821 ¥829 2,544 544 11,223 11,230 10,873 3,273 15.58 26.18 8.82 1.78 2,643 2,643 1,972 18,600 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 71.00 69.73 64.99 46.00 44.96 46.67 44.40 42.50 65.57 56.88 58.76 46.78 33.72 32.90 43.86 47.19 45.76 37.33 (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) ¥17.05 ¥16.52 ¥34.00 ¥35.04 ¥33.33 ¥35.60 ¥37.50 ¥14.43 ¥23.12 ¥21.24 ¥33.22 ¥46.28 ¥47.10 ¥36.14 ¥23.81 ¥6.92 ¥11.14 ¥554 ¥386 ¥381 ¥431 ¥565 ¥239 ¥346 ¥240 ¥271 ¥320 ¥378 ¥237 ¥256 ¥259 ¥288 ¥554 ¥386 ¥381 ¥431 ¥565 ¥239 ¥346 ¥240 ¥271 ¥320 ¥378 ¥237 ¥256 ¥259 ¥288 ¥305 ¥247 ¥227 ¥214 ¥315 ¥140 ¥217 ¥166 ¥180 ¥240 ¥298 ¥196 ¥241 ¥242 ¥275 897 704 681 602 840 970 937 780 541 520 633 543 1,011 1,009 994 3.91 0.19 10.89 7.10 3.76 ¥1.27 ¥0.51 ¥2.57 14.64 ¥0.41 14.13 .......................... 1.12 .......................... 1.87 6,980 4.16 1,447 7.03 .......................... ¥4,364 ¥904 ¥4,766 5,095 ¥3,545 ¥1,115 ¥4,492 4,751 315,000 159,161 50,500 111,273 39 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY 2005 ................................................................................................ FY 2006 ................................................................................................ Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Program FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Department of Treasury Community Development Financial Institutions: Community Development Financial Institutions Fund FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Department of Veterans Affairs Benefits Programs: Vendee and Acquired Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... 13.81 8.50 (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 7.64 ¥10.27 ¥5.76 3.38 4.04 ¥4.92 ¥8.85 ¥1.32 4.81 3.41 12.57 ¥1.42 ¥4.44 ¥1.42 0.63 ¥194 ¥169 ¥4,675 2,898 396 ¥5,233 ¥1,534 ¥15,179 2,898 396 ¥4,495 ¥1,366 ¥13,730 2,735 378 101,921 13,300 238,179 80,882 9,350 44.95 32.14 40.93 45.20 38.12 38.10 38.48 32.85 33.08 37.57 37.47 41.53 ¥30.97 27.55 ¥3 ¥437 ¥226 6,623 25.46 ¥17.41 10.72 .......................... ¥121 ¥74 1,100 42.62 ¥24.91 26.60 ¥6 72 104 6,150 33.58 ¥29.30 17.67 9 ¥1,771 ¥1,441 12,395 35.38 ¥24.95 22.20 ¥353 ¥545 ¥332 12,105 35.84 ¥19.81 17.55 353 ¥292 ¥291 12,877 38.67 ¥21.39 21.57 ¥35 15 15 8,260 28.30 ¥32.66 28.11 ¥* ¥119 ¥119 2,615 34.96 7.71 ¥5.83 93 93 93 4,994 44.71 ¥1.72 8.86 495 495 495 6,933 (4) .......................... .......................... .......................... .......................... .......................... .......................... 7.08 8.92 2.11 1.83 2.20 1.33 2.36 7.78 2.99 2.16 0.86 ¥1.39 ¥1.36 ¥5.12 1.97 ¥2.09 1.64 14.02 1.19 4.10 5.35 2.74 8.57 2.54 ¥3.89 ¥2.61 ¥2.72 12.53 5.22 ¥15.62 0.41 ¥0.32 0.53 0.49 ¥1.32 1.99 ¥0.35 0.18 0.24 ¥0.53 ¥1.38 ¥1.79 ¥1.79 ¥1.25 0.32 ¥9.58 ¥6.96 11.38 ¥1.13 3.22 2.03 0.73 0.61 ¥0.69 ¥5.52 ¥2.09 0.46 15.68 11.59 ¥17.92 ¥415 ¥2,214 ¥4,437 ¥1,981 ¥617 ¥4,371 ¥6,003 ¥9,132 ¥5,413 ¥2,305 ¥6,778 ¥4,730 ¥27,447 3,959 ¥26,479 ¥214,816 ¥136,255 318,071 7,232 58,936 89,435 14,083 60,810 17,119 ¥83,415 ¥33,627 ¥5,442 19,758 531 ¥26,479 ¥129,795 ¥122,891 184,815 ¥10,644 23,654 50,782 5,288 13,143 ¥6,507 ¥79,892 ¥35,717 ¥6,125 19,539 355 ¥25,691 1,418,895 1,597,155 1,560,392 1,526,404 1,327,896 1,284,705 1,369,968 1,633,411 1,426,849 1,236,116 1,021,354 517,393 155,825 193,127 150,760 40 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Native American Veteran Housing Loans FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Vocational Rehabilitation Loan Fund FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Veterans Health Administration: Transitional Housing for Homeless Veterans FY 2005 ..................................................................................................... Environmental Protection Agency Abatement, Control, and Compliance Loan FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... International Assistance Programs International Security Assistance: Foreign Military Financing Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 2003 ..................................................................................................... Overseas Private Investment Corporation: OPIC Direct Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... 7.72 7.72 7.72 7.72 7.72 7.72 7.72 7.72 7.72 ¥8.96 0.28 ¥7.75 ¥13.79 1.33 1.14 1.59 10.32 4.98 ¥0.67 1.62 ¥0.08 ¥21.59 ¥10.86 ¥3.80 ¥13.27 ¥14.04 6.18 ¥31.11 22.31 1.36 0.62 25.60 (5) (5) (5) (5) (5) (5) (5) (5) (5) ¥10.34 ¥14.38 ¥6.26 ¥2.95 ¥0.45 0.32 0.45 2.60 ¥2.74 ¥8.39 ¥6.10 ¥7.80 ¥29.31 ¥18.58 ¥11.52 ¥20.99 5.26 20.28 ¥17.10 39.05 0.48 ¥0.84 23.56 74 40 ¥240 3 26 ¥8 41 14 ¥75 771 929 ¥722 735 1 ¥45 676 42 ¥138 ¥712 ¥16 ¥244 ¥980 ¥377 ¥171 ¥1,239 ¥1,258 ¥145 ¥1,235 735 1 ¥16 676 17 ¥170 ¥527 ¥90 ¥219 ¥768 ¥315 ¥169 ¥1,138 ¥1,107 ¥192 ¥1,164 700 1 ¥15 653 763 5,595 6,467 5,558 2,702 2,882 1,555 1,351 5,700 10,733 3,473 4,623 2,037 2,901 3,096 2,807 99.24 (4) .......................... .......................... .......................... .......................... .......................... 2,428 42.87 40.46 35.65 42.76 (5) (5) ¥7.22 2.30 ¥5 ¥24 ¥4,205 1,575 ¥2,054 1,120 27,530 48,052 14.52 16.00 4.95 7.67 10.92 13.44 12.34 .......................... ¥2.18 ¥6.30 7.86 1.14 ¥0.20 6.29 ¥3.70 ¥2.29 ¥7.77 0.42 ¥6.70 ¥4.36 0.17 0.74 0.90 .......................... ¥10.40 .......................... ¥9.28 .......................... ¥11.43 ¥8,822 ¥9.08 ¥3,231 ¥19.11 ¥7,801 ¥15.78 ¥6,780 ¥12.91 .......................... 0.90 14,365 ¥87,528 ¥119,699 ¥72,633 ¥79,600 ¥118,761 ¥65,780 ¥12,838 9,171 ¥57,630 ¥69,548 ¥39,601 ¥63,415 ¥101,657 ¥59,915 ¥12,170 7,987 345,000 855,000 769,500 557,685 544,000 297,500 100,000 760,700 17.27 19.03 4.46 ¥15.54 9.61 ¥10.80 (5) (5) (5) ¥32.81 ¥9.41 ¥15.26 ¥175 ¥* ¥2 ¥5,442 ¥1,087 ¥11,194 ¥3,212 ¥651 ¥6,785 10,680 7,100 44,625 41 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... NIS Direct Loans FY 1996 ..................................................................................................... FY 2000 ..................................................................................................... Small Business Administration General Business Loan Programs: Section 8(a) Business Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... Economic Opportunity Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... Handicapped Assistance Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... Veterans Loan Program FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... Section 7(m) Microloans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... 6.77 12.06 13.61 18.42 3.85 7.02 14.62 3.20 9.29 2.26 2.04 2.09 7.48 ¥2.67 (5) ¥9.44 ¥* ¥345 ¥226 ¥10.52 (5) ¥22.58 ¥* ¥5,288 ¥3,522 ¥11.51 (5) ¥25.12 ¥14 ¥10,368 ¥8,509 3.88 (5) ¥14.54 5,047 ¥2,918 ¥2,763 12.92 (5) 9.07 3,727 5,757 4,572 28.20 ¥5.76 26.94 30,272 30,272 24,411 22.55 ¥8.66 16.59 1,745 1,745 1,398 48.11 ¥5.81 50.72 42,960 42,960 38,975 (4) .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... 5.51 10.05 (5) (5) 3.42 .......................... 2.57 ¥6 ¥569 17 376 14 4,800 22,888 32,550 35,398 42,362 94,494 13,535 101,994 71,200 65,660 46,689 11,000 555 30.30 17.87 13.29 30.30 17.83 21.89 36.36 25.71 34.04 41.82 30.30 17.87 25.05 17.00 15.95 10.15 19.61 15.69 8.86 10.31 9.54 24.51 28.22 50.16 26.95 30.65 51.31 48.89 47.51 59.26 75.55 30.62 29.66 40.02 ¥4.54 18.34 34.56 6.29 14.85 15.69 7 ¥212.64 18.16 (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) ¥6.60 ¥4.73 0.75 ¥9.37 ¥5.75 1.13 ¥0.30 ¥3.46 ¥5.79 10.35 36.87 ¥3.35 12.82 29.42 12.53 21.80 25.22 33.73 ¥2 ¥10 ¥3 ¥3 46 ¥7 ¥* 31 70 196 ¥553 855 1,548 ¥1,233 2,039 4,303 3,156 4,646 4,248 2,033 39 3,558 3,135 ¥5,085 1,263 3,237 ¥2,363 49 802 ¥30,912 1,596 ¥272 473 889 ¥582 1,121 2,413 1,540 2,550 2,389 1,153 77 1,955 1,753 ¥2,390 531 1,766 ¥1,640 ¥51 537 ¥21,299 1,134 4,247 4,115 2,241 15,650 7,912 7,604 11,078 10,625 8,866 3,295 15,127 15,052 10,919 11,118 21,973 7,260 12,430 7,998 7,941 9,551 13,355 0.32 ¥47 11.79 .......................... 14.97 .......................... ¥14.94 7.12 23.66 ¥3.95 4.91 5.70 ¥222.65 12.08 ¥203 192 152 ¥57 ¥120 ¥164 68 317 42 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... SBIC Direct Preferred Stock and Fee Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... Disaster Loan Program: Disaster Assistance FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Economic Injury Disaster Loans—Terrorist Attack FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... Other Independent Agencies Export-Import Bank of the United States: Long and Medium Term Loans (including Tied Aid) FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... 8.54 8.95 6.78 13.05 9.55 10.25 7.17 44.33 38.06 31.64 43.10 4.98 5.66 ¥9.22 509 ¥1,208 ¥937 5.91 3.20 ¥6.24 ¥299 ¥981 ¥811 4.60 ¥9.30 7.12 6 ¥313 ¥281 16.00 ¥5.29 8.24 579 896 785 10.53 .......................... 0.98 912 178 143 5.55 .......................... ¥4.70 ¥539 ¥539 ¥510 (4) .......................... .......................... .......................... .......................... .......................... 40.09 53.51 38.42 35.39 (5) (5) (5) (5) ¥4.24 15.45 6.78 ¥7.71 ¥7,162 ¥4,782 ¥1,429 169 ¥1,378 4,241 2,206 ¥917 ¥327 2,045 1,064 ¥437 25,622 26,871 12,874 27,396 17,301 11,326 4,004 12,050 12,356 15,029 5,594 33.93 20.58 22.99 31.54 28.08 20.02 23.46 22.36 22.20 17.46 14.67 13.98 11.72 12.86 14.64 17.46 22.67 23.20 23.20 36.34 ¥0.79 32.43 7.62 26.09 10.50 27.18 0.51 28.66 1.78 29.25 6.17 27.14 ¥1.46 25.22 ¥7.23 24.76 (5) 21.65 0.18 26.31 (5) 17.90 (5) 19.24 ¥0.98 19.55 ¥1.79 19.87 .......................... 24.30 25.53 23.20 28.35 0.18 ¥3.49 ¥6.16 ¥6.16 3.20 4.23 ¥7.40 ¥4.87 ¥1.20 3.06 5.14 10.09 2.56 4.01 11.64 3.92 8.50 8.48 5.23 6.66 6.35 6.16 11.31 1,380 552 2,777 ¥134 ¥332 492 841 ¥309 2,514 7,056 17,156 2,495 ¥1,767 76,471 177,593 881 ¥2,382 ¥6,270 100 40,835 254,240 237,255 ¥1,692 39,476 121,449 44,463 41,101 35,410 38,206 103,609 23,267 38,108 76,471 177,593 881 16,709 602 100 14,270 145,555 101,235 ¥25,987 4,427 78,447 20,575 20,610 18,928 28,153 68,215 21,377 35,542 70,935 169,507 697 14,238 660 88 577,587 1,213,657 3,143,430 955,543 664,518 832,786 550,901 688,195 726,791 687,040 782,220 548,454 473,595 1,106,163 3,397,180 10,674 427,952 89,301 1,788 3.90 5.51 12.84 6.07 7.92 5.21 ¥2.44 ¥3.71 ¥6.24 ¥13.75 (5) (5) (5) (5) (5) 1.31 ¥7.95 ¥16.55 ¥12.31 ¥21.67 ¥3,810 ¥22,364 ¥97,355 ¥63,948 ¥127,103 38,225 ¥99,717 ¥638,112 ¥260,820 ¥314,837 .......................... .......................... .......................... .......................... .......................... 593,028 1,514,620 2,797,632 2,638,594 1,635,149 43 Table 7.—DIRECT LOANS: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) .......................... .......................... .......................... .......................... .......................... .......................... .......................... Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY FY 1997 1998 1999 2000 2001 2002 2003 ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... 2.84 15.53 5.87 1.39 9.92 16.29 1.72 ¥14.57 ¥3.51 ¥8.21 ¥12.99 ¥14.54 ¥3.98 ¥17.90 (5) (5) (5) (5) (5) (5) (5) ¥17.41 ¥19.04 ¥14.08 ¥14.38 ¥24.46 ¥20.27 ¥19.62 10,463 ¥1,033 ¥14,337 1,116 ¥18,816 ¥8,483 ¥8,127 ¥139,463 ¥23,646 ¥142,177 ¥34,970 ¥183,656 ¥24,009 ¥31,138 1,022,378 95,413 977,657 434,227 524,743 130,760 34,654 Federal Communications Commission: C Block FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... F Block FY 1998 ..................................................................................................... SMR/MDS FY 1996 ..................................................................................................... Multi-auction FY 1995 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2002 ..................................................................................................... 12.56 50.00 12.00 0.74 58.81 24.10 5.89 8.25 8.25 15.37 65.78 ¥1.24 0.88 13.09 79.93 ¥35.77 0.79 ¥56.97 17.15 ¥1.53 (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) 53.22 24,217 ¥51.24 .......................... ¥11.12 12.35 ¥38 326 6,000,736 ¥46,368 ¥66,554 18,009 77,374 ¥367,662 ¥359 ¥2,425 157 ¥256 4,977,247 ¥42,731 ¥61,104 14,891 44,112 ¥310,397 ¥265 ¥1,527 107 ¥231 8,984,729 83,394 14,165 120,190 210,177 520,806 5,488 2,340 1,137 1,369 21.12 .......................... ¥59.87 518 ¥5.10 ¥26 ¥65.22 ¥2,565 8.90 12 ¥16.90 .......................... * Nonzero amount rounds to zero, based on units for this column. 1 Reestimates for some programs did not appear in the 2008 Appendix because they were $500,000 or less. Information on all cohorts is provided in the electronic version of the Federal Credit Supplement at www.budget.gov/budget/ 2 Current year reestimates, including interest on reestimates. 3 Total (net cumulative) reestimates, including interest on reestimates. 4 Reestimates have not yet been calculated. 5 Breakout between technical and interest reestimates is not available. 6 Cohort is closed as of the end of 2006. 7 The $30.9 million downward reestimate resulted from loan sale proceeds for all direct business loans during 1998 being deposited into this single cohort. 44 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1 (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Department of Agriculture Farm Service Agency: CCC Export Loan Guarantees: GSM 102 FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ GSM 103 FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2003 ................................................................................................ Supplier Credit FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ 4.61 4.67 10.59 10.23 7.71 5.29 5.83 7.21 2.48 4.41 7.81 6.09 5.05 1.86 5.65 1.92 2.74 2.50 2.36 5.49 5.91 2.25 1.49 1.57 2.87 0.53 0.26 0.95 ¥0.15 14.24 1.54 1.55 1.31 0.48 0.49 0.42 ¥0.93 5.02 4.37 1.24 ¥0.30 ¥0.77 1.93 ¥0.84 ¥0.40 1.12 1.72 2.55 ¥173.82 ¥14.66 ¥87.54 ¥109.00 ¥10.72 ¥0.68 ¥0.90 ¥2.99 ¥3.81 1.47 0.41 0.13 3.94 4.43 5.62 1.24 10.71 26.44 1.93 2.16 2.92 3.44 ¥3.38 ¥4.64 ¥10.56 ¥10.18 ¥7.73 ¥5.37 ¥5.97 ¥7.06 ¥2.48 ¥2.34 ¥5.19 ¥1.98 ¥2.13 ¥0.48 ¥5.32 ¥1.91 ¥2.56 ¥1.82 ¥2.18 ¥5.89 ¥6.31 ¥2.25 ¥1.49 ¥1.57 ¥2.85 ¥0.54 ¥0.25 0.01 1.36 ¥12.27 2.13 0.94 1.83 3.35 3.47 ¥0.81 ¥0.96 4.99 4.32 1.26 ¥0.22 ¥0.63 1.78 ¥0.84 ¥2.47 ¥1.50 ¥2.39 ¥0.37 ¥175.20 ¥14.99 ¥87.55 ¥109.18 ¥11.40 ¥0.86 ¥0.50 ¥2.59 ¥3.81 1.47 0.41 0.11 3.95 4.42 4.66 0.03 8.74 22.77 ¥0.56 ¥0.98 ¥0.91 ¥0.52 ¥63,109 ¥4,902 1,952 ¥2,542 ¥8,327 ¥942 ¥3,704 ¥65,438 ¥7,821 ¥59,928 ¥74,894 ¥69,403 ¥18,324 ¥3,600 ¥940 ¥2,410 ¥1,157 ¥135 ¥341 ¥208 ¥558 ¥118 * * 40 18 66 403 454 ¥1,922 79,624 ¥828 ¥812 ¥1,052 ¥1,013 ¥501,998 ¥279,536 ¥179,611 ¥188,046 ¥279,984 ¥179,379 ¥210,583 ¥179,030 ¥110,358 ¥118,388 ¥177,083 ¥92,209 ¥18,324 ¥281,479 ¥84,930 ¥210,510 ¥99,039 ¥9,974 ¥1,785 ¥2,840 ¥4,393 ¥472 13 ¥77 ¥633 2,942 7,613 15,056 7,320 ¥22,570 94,343 2,475 9,663 28,859 42,399 ¥246,333 ¥183,202 ¥147,879 ¥143,220 ¥228,417 ¥144,325 ¥184,184 ¥143,247 ¥93,089 ¥111,518 ¥167,454 ¥86,785 ¥17,489 ¥128,812 ¥45,207 ¥131,524 ¥66,769 ¥7,246 ¥1,213 ¥2,201 ¥3,715 ¥447 4 ¥100 ¥118 2,429 6,998 14,744 7,147 ¥23,201 89,077 3,587 7,326 25,731 34,542 5,332,448 3,352,987 2,771,152 2,529,300 3,585,118 2,678,178 2,708,072 2,702,530 2,682,107 2,317,144 2,540,021 2,022,923 1,029,448 77,391 222,390 144,285 58,635 54,116 41,114 34,214 41,466 7,306 2,249 9,869 24,627 69,838 163,780 306,445 499,665 666,571 369,816 943,920 861,863 1,054,565 1,170,902 45 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) 20,860 12,714 11,028 5,649 8,838 6,921 ¥12,776 ¥13,389 ¥10,162 ¥5,853 ¥7,921 4,085 3,302 ¥231 ¥1,207 4,818 6,302 5,913 14,179 16,372 14,131 ¥8,571 2,762 ¥484 ¥2,475 ¥3,752 ¥20,279 ¥18,988 ¥18,145 ¥16,198 ¥16,062 ¥16,859 ¥13,221 ¥9,145 ¥2,975 ¥1,918 ¥3,101 ¥7,997 ¥1,287 ¥1,287 ¥2,494 Total disbursements to date ($ thousands) Original Subsidy Rate FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Farm Operating—Subsidized FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Farm Ownership—Unsubsidized FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ 1.11 1.10 1.17 1.16 1.41 1.37 3.51 3.17 3.33 3.23 3.03 7.82 9.12 11.95 12.47 9.12 9.08 9.64 8.74 8.81 8.16 13.56 11.80 12.77 13.31 12.50 4.89 4.58 3.82 3.71 3.74 3.69 3.86 1.59 0.56 0.51 0.45 0.75 0.54 0.53 0.48 3.00 2.67 2.66 1.62 2.31 2.07 2.28 1.83 2.25 2.56 2.06 10.55 11.52 11.85 11.83 11.66 12.02 11.95 11.46 10.87 11.21 11.82 12.47 12.59 12.43 10.99 2.50 2.32 2.60 2.35 2.11 2.16 0.25 ¥0.04 ¥0.06 0.02 ¥0.04 3.74 3.80 1.58 0.63 4.00 4.19 4.08 4.97 4.36 5.65 0.70 ¥0.09 ¥0.47 0.02 ¥0.15 ¥0.61 ¥0.75 ¥1.11 ¥1.89 ¥1.21 ¥1.46 ¥1.48 ¥1.30 ¥1.02 ¥0.69 ¥0.93 ¥1.01 ¥1.40 ¥1.68 ¥1.27 ¥1.46 ¥1.25 ¥1.77 ¥2.25 ¥2.30 ¥2.60 ¥2.44 0.76 0.29 ¥0.90 ¥1.36 ¥0.15 0.03 ¥0.06 ¥0.02 0.24 0.14 0.24 ¥0.08 ¥0.24 ¥0.20 ¥0.37 ¥0.62 ¥0.09 ¥0.13 ¥0.36 ¥831 ¥726 ¥834 ¥1,104 447 655 750 1,228 2,675 4,126 ¥8,295 ¥* * * 42 185 474 1,042 3,488 5,296 5,784 8,352 8,064 6,754 7,565 ¥3,929 ¥125 107 249 ¥122 * ¥1,234 * ¥1,047 ¥1,913 ¥987 ¥1,168 ¥4,465 ¥714 ¥934 ¥2,611 24,923 13,512 10,683 1,391 6,032 4,780 ¥14,445 ¥14,588 ¥10,699 ¥6,310 ¥8,295 4,962 4,103 981 ¥258 4,528 6,270 5,067 11,796 12,233 12,881 ¥9,445 2,839 ¥278 ¥2,292 ¥3,929 ¥25,619 ¥23,103 ¥23,660 ¥20,803 ¥19,400 ¥19,173 ¥13,997 ¥9,776 ¥3,937 ¥2,393 ¥3,679 ¥8,751 ¥1,425 ¥1,369 ¥2,611 1,103,702 809,779 740,124 1,228,124 981,962 988,695 1,038,717 999,187 940,931 873,550 816,624 149,638 137,570 230,826 188,550 189,682 214,367 255,963 521,298 794,754 463,317 492,571 412,240 269,098 281,291 248,454 440,842 436,497 532,104 543,561 521,502 513,989 415,760 749,603 850,064 833,986 1,069,330 1,193,556 1,072,298 990,260 674,127 0.29 ¥4.45 0.23 ¥4.38 0.41 ¥3.35 0.73 ¥2.96 0.66 ¥3.32 0.41 ¥3.42 0.68 ¥3.42 0.37 ¥1.14 0.21 ¥0.11 0.28 ¥0.03 0.16 0.08 0.08 ¥0.05 0.42 ¥0.03 0.40 .......................... 0.11 ¥0.01 46 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Guaranteed FY 1992 FY 1993 FY 1994 Soil & Water ................................................................................................ ................................................................................................ ................................................................................................ 1.94 3.12 2.15 7.43 0.87 ¥0.89 (4) (4) (4) 5.49 ¥2.25 ¥3.04 * ¥* * 24 ¥6 ¥36 23 ¥4 ¥25 427 191 832 Rural Community Advancement Program: Business and Industry Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Community Facility Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Water and Waste Disposal Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... 5.87 5.44 0.93 0.94 0.92 0.93 0.97 1.02 3.11 0.86 3.74 3.97 4.86 5.03 4.36 ¥0.19 ¥0.42 4.98 4.94 4.76 0.41 0.40 ¥0.54 ¥0.54 ¥0.54 ¥0.68 ¥0.54 ¥0.60 0.09 0.36 ¥0.61 ¥0.72 ¥1.15 ¥1.18 ¥1.09 4.42 ¥0.54 ¥0.91 ¥0.33 0.25 ¥6.02 4.85 .......................... 3.92 3.14 ¥0.01 2.21 4.37 ¥0.44 3.89 6.25 ¥0.49 5.81 3.52 ¥0.43 2.98 6.94 ¥0.48 6.40 7.38 ¥0.90 5.17 6.91 ¥1.71 7.76 5.11 0.34 1.03 5.61 0.14 1.50 5.92 0.05 1.01 6.01 ¥0.03 1.01 (5) .......................... .......................... ¥0.80 0.17 ¥0.78 ¥0.75 ¥0.26 ¥0.07 3.50 ¥5.02 3.54 ¥0.77 ¥3.73 ¥1.98 1.33 ¥2.92 ¥0.51 8.96 ¥1.02 9.57 5.45 ¥1.01 6.06 3.96 ¥0.10 4.60 3.79 ¥0.10 4.43 5.36 ¥0.28 6.18 4.09 0.01 4.76 6.51 0.01 7.04 3.97 0.01 4.56 4.04 .......................... 3.95 (5) .......................... .......................... ¥0.80 ¥0.80 ¥0.78 ¥0.77 ¥0.80 ¥0.20 ¥0.05 0.35 ¥2.25 ¥2.32 0.01 ¥0.03 0.02 2.66 2.61 .......................... 1,069 ¥1,203 82,995 .......................... ¥11,687 ¥9,284 160,955 .......................... 11,442 7,889 201,241 .......................... 9,443 7,374 335,179 .......................... 22,835 17,954 520,397 .......................... 46,125 37,053 696,477 .......................... 25,228 24,466 959,441 .......................... 67,515 58,357 985,760 .......................... 39,121 33,231 778,242 .......................... 58,638 52,991 875,388 .......................... 10,680 9,857 719,507 .......................... 12,672 12,114 738,676 .......................... 8,390 8,034 757,921 .......................... 2,243 2,175 221,914 .......................... .......................... .......................... .......................... .......................... ¥596 ¥130 21,251 .......................... ¥267 ¥151 45,690 .......................... 233 ¥403 27,237 .......................... ¥2,771 ¥2,460 43,088 .......................... ¥953 ¥1,263 36,832 .......................... 5,598 3,686 43,111 .......................... 3,799 2,855 56,536 .......................... 4,546 3,450 76,665 .......................... 3,828 3,078 71,089 .......................... 6,618 6,026 102,131 .......................... 4,666 4,247 89,027 .......................... 9,060 8,470 120,143 .......................... 3,211 3,033 66,358 .......................... 198 190 4,800 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥15 ¥4 25 54 11 ¥7 ¥1 13 35 6 3,843 809 3,591 8,460 2,188 47 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY FY FY 1998 1999 2000 2001 2002 2003 2005 2006 ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ¥1.90 ¥1.08 ¥0.83 ¥1.50 ¥0.80 ¥0.81 ¥0.90 ¥0.90 ¥0.78 ¥0.82 ¥0.76 ¥0.81 ¥0.83 ¥0.90 ¥0.89 (5) ¥1.29 2.41 ¥3.31 3.57 2.46 ¥2.39 ¥0.45 1.14 .......................... ¥0.03 .......................... ¥0.09 .......................... 0.01 .......................... .......................... .......................... 174 157 14,019 .......................... 15 15 5,864 .......................... 4 3 4,777 .......................... 33 31 4,497 .......................... ¥1 ¥1 2,119 .......................... ¥3 ¥3 3,542 .......................... * * 1,688 .......................... .......................... .......................... .......................... Rural Utilities Service: Electric Guaranteed Loans FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... Rural Housing Service: Rural Housing Insurance Fund: Section 502 Single-Family Housing Purchase FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Section 502 Single-Family Housing Refinance FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ 538 Multi-Family Housing—Subsidized FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ .......................... 0.01 0.01 0.05 0.01 0.06 .......................... 0.08 .......................... 0.04 .......................... 0.05 .......................... 0.07 .......................... 79 29 37 73 26 34 145,911 52,259 49,117 1.13 1.85 1.68 1.64 0.20 0.23 0.23 0.09 0.61 0.20 1.28 1.22 1.32 1.07 1.16 0.20 1.28 0.18 0.29 0.27 0.29 6.10 3.09 3.00 3.10 0.62 0.01 ¥0.52 0.85 0.02 ¥1.02 1.43 ¥0.40 0.15 2.97 ¥0.01 1.34 2.90 0.01 2.69 2.75 ¥0.01 2.53 2.32 0.02 2.07 2.47 0.02 2.36 3.04 0.01 2.42 1.80 1.23 0.37 1.60 0.21 0.11 1.99 0.20 0.57 1.81 0.04 0.45 1.43 0.04 0.32 (5) .......................... .......................... ¥1.04 0.23 ¥1.47 0.35 0.20 ¥1.13 0.71 0.13 0.40 0.55 0.01 0.25 0.55 0.01 0.27 (5) .......................... .......................... 14.39 3.23 4.86 7.11 ¥0.34 2.29 ¥2.35 0.48 8.63 ¥2.15 4.21 3.53 .......................... ¥1,628 ¥1,023 200,567 .......................... ¥6,642 ¥5,085 508,495 .......................... ¥1,843 ¥1,765 706,124 .......................... 19,617 13,399 1,007,416 .......................... 53,933 43,860 1,624,458 .......................... 56,464 48,090 1,908,314 .......................... 62,348 56,414 2,699,240 .......................... 78,049 68,116 2,862,017 .......................... 59,796 50,751 2,088,512 .......................... 44,153 36,849 2,303,086 .......................... 8,558 7,240 2,262,446 .......................... 23,119 21,599 2,805,056 .......................... 16,085 15,317 3,125,880 .......................... 9,450 9,076 2,521,050 .......................... .......................... .......................... .......................... .......................... ¥119 ¥121 9,760 .......................... ¥687 ¥677 72,789 .......................... 1,326 1,222 230,605 .......................... 137 128 49,128 .......................... 60 58 20,654 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 406 49 16 642 267 6 13 481 3,226 4,100 700 11,985 48 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY 2000 2002 2003 2004 2005 2006 ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ 0.48 3.93 4.50 5.95 3.49 5.42 3.66 2.94 0.24 11.75 4.67 3.15 11.49 2.91 4.08 12.72 3.10 3.67 10.60 6.18 0.93 (5) .......................... .......................... .......................... 487 412 12,965 .......................... 6,755 5,996 76,671 .......................... 2,376 2,141 30,624 .......................... 4,076 3,762 55,567 .......................... 451 430 6,045 .......................... .......................... .......................... .......................... Rural Business Cooperative Services: Renewable Energy FY 2006 ..................................................................................................... Rural Business Investment Program FY 2006 ..................................................................................................... Department of Commerce Office of Departmental Management: Emergency Steel Loan Guarantee Program FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... Emergency Oil & Gas Loan Guarantee Program FY 2002 ..................................................................................................... National Oceanic and Atmospheric Administration: Fisheries Finance: Guaranteed Traditional Loans FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ Guaranteed NE Initiative Loans FY 1995 ................................................................................................ FY 1996 ................................................................................................ Department of Defense Procurement: ARMS Initiative FY 1998 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... Family Housing: Military Housing Improvement Fund FY 1998 ..................................................................................................... FY 2000 ..................................................................................................... 6.45 7.72 (5) .......................... .......................... .......................... .......................... .......................... .......................... (5) .......................... .......................... .......................... .......................... .......................... .......................... 11.68 12.36 27.69 42.03 ¥7.52 ¥0.48 25.25 14.52 ¥0.70 ¥0.19 0.30 1.40 ¥18.50 ¥12.65 ¥2.74 ¥28.91 440 ¥3,262 ¥10,859 ¥64 ¥30,569 ¥6,617 ¥7,823 ¥469 ¥21,120 ¥5,407 ¥7,409 ¥413 110,000 42,118 250,000 1,500 1.00 1.00 1.00 1.00 5.00 5.00 7.16 1.44 1.99 ¥4.81 ¥3.38 ¥5.20 ¥0.13 ¥0.16 ¥0.18 0.01 ¥0.15 ¥0.09 6.29 0.60 1.17 ¥5.82 ¥8.23 ¥10.11 ¥1,117 ¥33 3,542 ¥33 2 ¥2 4,935 547 1,509 ¥1,350 ¥774 ¥1,322 3,073 105 825 ¥766 ¥530 ¥1,116 46,951 32,057 24,649 19,656 6,186 10,273 0.96 3.19 3.34 3.37 68.42 1.71 85.41 4.69 ¥0.96 ¥3.19 ¥3.34 0.14 68.42 1.71 85.41 1.18 11,253 ¥26 14,971 48 11,253 ¥26 14,971 48 6,746 ¥24 13,542 45 10,000 1,600 16,500 3,434 6.26 6.76 3.30 2.65 0.13 ¥0.21 ¥3.09 ¥3.90 ¥429 ¥1,226 ¥1,064 ¥9,712 ¥870 ¥7,096 29,385 172,635 49 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) ¥2,533 ¥969 ¥548 ¥82 Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY 2001 2002 2003 2005 ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... Department of Education 5.19 5.55 5.63 6.27 ¥0.09 0.51 4.05 .......................... 4.89 .......................... 6.22 .......................... ¥5.79 ¥1.50 ¥0.74 ¥0.05 ¥2,955 ¥1,233 ¥638 ¥90 ¥3,025 ¥1,233 ¥638 ¥90 48,000 64,600 74,000 165,000 Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Subsidized Stafford FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Unsubsidized Stafford FY 1993 ................................................................................................ FY 1994 ................................................................................................ 6 15.88 6 13.48 6 11.92 15.03 12.83 12.71 8.82 12.34 14.20 8.68 8.84 9.58 11.61 11.26 13.63 18.07 18.90 19.04 22.69 22.92 22.03 18.14 21.55 24.92 18.15 16.41 14.74 15.41 16.73 18.55 0.83 3.04 14.70 (4) 11.68 (4) 11.69 (4) 12.06 (4) 9.63 (4) 9.41 (4) 9.31 (4) 8.85 0.04 7.39 ¥0.10 5.21 0.30 6.14 ¥0.31 10.80 ¥0.03 13.68 0.08 15.79 0.26 14.65 .......................... 18.79 (4) 18.30 (4) 20.10 (4) 20.93 (4) 20.01 (4) 19.80 (4) 18.61 (4) 17.70 0.38 15.60 ¥0.28 11.71 0.50 10.11 ¥0.65 10.42 ¥0.04 12.17 ¥0.24 15.63 0.37 17.99 .......................... ¥2.70 ¥0.68 (4) (4) ¥1.18 ¥1.81 ¥0.24 ¥2.97 ¥3.20 ¥3.30 0.48 ¥3.53 ¥6.71 ¥3.76 ¥2.39 1.26 1.98 4.27 1.01 0.72 ¥0.60 1.06 ¥1.76 ¥2.91 ¥2.23 0.47 ¥4.23 ¥9.04 ¥6.94 ¥5.65 ¥4.28 ¥3.00 ¥1.47 ¥0.56 ¥3.53 ¥3.72 ¥144,166 ¥2,245 151,956 118,723 155,720 31,919 ¥106,517 ¥146,977 ¥127,716 ¥287,558 ¥147,429 ¥267,803 ¥873,661 ¥1,161,215 ¥352,644 ¥135,508 ¥21,026 27,578 55,164 30,896 ¥11,445 ¥76,077 ¥94,097 ¥88,962 ¥252,070 ¥385,165 ¥632,051 ¥1,092,328 ¥830,408 ¥49,584 ¥5,895 ¥38,637 ¥568,617 ¥651,148 ¥273,104 ¥651,546 ¥736,565 ¥984,817 ¥53,567 ¥1,168,350 ¥2,100,827 ¥1,345,206 ¥984,106 1,194,866 308,965 3,993,267 ¥352,644 ¥99,068 ¥81,561 167,235 ¥48,327 ¥175,208 ¥266,367 3,467 ¥536,968 ¥1,096,784 ¥766,026 ¥750,682 ¥701,944 ¥838,259 ¥538,684 ¥49,584 ¥88,099 ¥317,469 ¥176,632 ¥345,043 ¥66,439 ¥263,644 ¥545,966 ¥760,138 106,765 ¥881,368 ¥1,676,567 ¥960,618 ¥679,921 1,639,079 1,012,818 5,089,854 ¥335,847 55,560 ¥125,137 131,410 61,750 ¥156,604 ¥251,870 39,431 ¥434,128 ¥940,879 ¥635,173 ¥711,785 ¥521,108 ¥559,928 ¥172,553 ¥47,527 ¥40,352 ¥157,681 13,137,590 15,986,481 22,626,674 21,966,542 21,855,299 23,223,970 23,310,861 25,489,455 29,264,981 34,230,921 51,515,348 69,089,484 75,324,759 97,798,371 102,172,708 10,046,651 11,202,851 13,276,450 11,492,996 10,433,244 10,727,129 10,764,807 10,566,375 11,160,709 11,909,462 13,434,914 15,594,951 17,560,664 18,776,313 12,870,327 901,543 4,219,498 50 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) ¥243,971 ¥396,796 ¥391,380 ¥131,562 ¥450,646 ¥634,202 ¥383,456 ¥540,577 ¥556,569 ¥274,485 ¥183,208 ¥99,118 ¥50,987 ¥25,971 ¥9,605 ¥17,206 ¥33,588 ¥58,928 7,625 ¥91,419 ¥107,631 ¥44,250 ¥99,844 ¥71,893 ¥2,145 11,727 ¥6,316 31,239 ¥64,217 41,022 ¥57,960 191,270 94,826 6,146 102,262 672,286 2,788,649 1,849,376 5,433,888 ¥182,886 Total disbursements to date ($ thousands) Original Subsidy Rate FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ PLUS FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Consolidated FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ 4.91 7.12 6.04 2.18 7.84 8.47 4.98 6.21 6.02 3.91 3.19 1.66 6.02 2.75 0.61 1.68 3.06 4.36 0.16 5.94 5.80 2.98 4.72 3.78 1.62 1.36 0.27 0.08 8.69 0.31 1.23 ¥2.31 1.35 4.29 1.72 5.73 9.35 14.42 13.25 15.46 0.19 (4) ¥0.10 (4) 0.02 (4) 0.40 (4) 1.86 ¥0.24 1.29 ¥0.08 0.96 0.26 1.34 ¥0.41 1.78 0.02 2.20 ¥0.19 2.11 0.19 0.90 .......................... 1.98 (4) 0.70 (4) ¥0.03 (4) 0.31 (4) 0.69 (4) 0.66 (4) 0.56 (4) 1.42 ¥0.62 1.02 ¥0.21 1.24 0.18 1.38 ¥0.27 1.52 ¥0.05 1.54 ¥0.06 1.52 0.10 0.10 .......................... 1.65 (4) 1.93 (4) 1.33 (4) ¥0.28 (4) 3.52 (4) 3.20 (4) 3.08 0.37 2.54 0.10 7.23 0.01 16.02 ¥0.05 20.72 0.36 22.33 0.26 17.07 .......................... ¥4.72 ¥7.22 ¥6.02 ¥1.78 ¥5.74 ¥7.10 ¥4.28 ¥4.46 ¥4.26 ¥1.52 ¥1.27 ¥0.76 ¥4.04 ¥2.05 ¥0.64 ¥1.37 ¥2.37 ¥3.70 0.40 ¥3.90 ¥4.57 ¥1.92 ¥3.07 ¥2.21 ¥0.02 0.06 ¥0.17 1.57 ¥6.76 1.02 ¥1.51 5.83 1.85 ¥1.58 0.72 1.49 6.72 5.94 8.82 1.61 ¥39,039 ¥41,406 ¥68,391 ¥101,564 ¥114,730 ¥120,985 ¥141,085 ¥197,113 ¥310,939 ¥605,242 ¥700,370 ¥104,904 ¥23,109 ¥11,988 ¥10,207 ¥10,401 ¥8,653 ¥10,612 ¥11,331 ¥11,790 ¥10,726 ¥10,683 ¥12,854 ¥18,402 ¥32,742 ¥61,845 ¥6,597 145,003 112,999 174,883 122,368 82,455 73,641 92,957 116,279 447,703 693,590 856,651 431,409 ¥191,559 ¥466,088 ¥554,237 ¥527,232 ¥226,979 ¥564,890 ¥771,146 ¥476,445 ¥641,578 ¥699,828 ¥521,991 ¥591,459 ¥104,904 ¥108,703 ¥107,011 ¥45,783 ¥56,830 ¥58,427 ¥84,688 ¥11,364 ¥112,626 ¥130,044 ¥56,046 ¥114,352 ¥92,319 ¥37,924 ¥59,116 ¥6,597 62,541 ¥80,301 51,308 ¥106,529 181,308 46,133 ¥102,854 ¥46,689 522,506 2,688,958 1,707,140 5,182,526 ¥191,559 5,789,106 5,871,038 6,760,362 7,283,686 7,919,742 9,108,933 10,179,709 11,972,297 14,186,863 16,518,954 18,479,582 13,141,778 1,138,005 1,155,574 1,483,565 1,455,648 1,473,583 1,737,687 1,908,314 2,074,487 2,405,433 2,726,888 3,198,943 4,064,959 5,154,735 6,036,057 4,376,178 1,993,035 3,228,791 4,077,434 3,998,792 3,354,055 4,928,852 6,589,907 9,414,863 22,909,195 35,242,711 36,090,406 54,506,418 71,784,426 51 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Department of Health and Human Services Health Resources and Services Administration: Health Centers Loan Guarantees: Health Facilities Construction Loans FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ Health Education Assistance Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... Department of Housing and Urban Development Public and Indian Housing Programs: Indian Housing Loan Guarantees FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... 0.71 0.43 4.08 3.49 3.52 3.57 3.50 10.32 9.06 8.87 7.78 0.06 0.34 1.20 .......................... .......................... .......................... 10.67 15.76 14.80 2.67 3.13 3.51 4.43 3.00 3.50 3.41 ¥6.22 ¥4.64 5.40 6.28 1.46 1.46 3.67 4.60 4.39 6.63 9.07 5.98 ¥27.13 3.41 2.85 4.63 0.16 0.09 ¥2.18 ¥2.11 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) ¥1.45 ¥* ¥0.15 24 ¥5.20 .......................... 0.78 * ¥0.61 .......................... 2.11 ¥15 2.02 ¥2 ¥16.54 ¥13.70 ¥3.47 ¥1.50 1.40 1.12 2.47 4.60 4.39 6.63 ¥1.60 ¥9.78 ¥41.93 ¥920 ¥1,721 ¥3,817 ¥4,520 ¥3,048 ¥2,838 ¥3,055 ¥2,681 ¥1,432 ¥3,238 ¥3,766 ¥1,905 ¥958 10 121 ¥2 42 ¥19 ¥15 ¥2 ¥108,343 ¥89,936 ¥39,085 ¥19,070 8,419 4,525 10,067 13,023 5,247 9,993 ¥3,626 ¥8,539 ¥19,961 14 103 ¥3 42 ¥19 ¥14 ¥2 ¥49,776 ¥48,056 ¥20,822 ¥9,149 6,998 4,325 5,126 12,210 5,458 10,438 ¥2,726 ¥7,737 ¥19,124 718 3,830 500 4,422 3,680 20,442 2,125 290,675 340,752 587,951 616,250 464,112 350,542 331,270 252,495 116,608 150,489 174,733 78,857 45,693 8.13 8.13 8.13 8.13 8.13 8.13 8.13 8.13 2.47 2.43 2.73 2.58 2.42 47.90 ¥6.04 ¥0.73 ¥0.77 ¥2.77 0.67 0.47 0.80 1.11 1.58 1.76 1.86 2.68 (4) (4) (4) (4) (4) (4) (4) (4) 0.15 0.30 0.05 (4) (4) 39.77 ¥14.17 ¥8.86 ¥8.90 ¥10.90 ¥7.46 ¥7.66 ¥7.33 ¥1.51 ¥1.15 ¥1.02 ¥0.72 0.26 205 ¥8 ¥40 ¥72 ¥215 ¥2 ¥65 23 ¥101 ¥82 280 ¥94 354 165 ¥474 ¥1,791 ¥2,680 ¥1,927 ¥1,022 ¥1,220 ¥959 ¥403 ¥347 ¥570 ¥651 354 66 ¥281 ¥1,220 ¥2,000 ¥1,289 ¥805 ¥994 ¥759 ¥353 ¥323 ¥558 ¥615 354 192 1,965 14,358 22,587 13,458 11,887 14,340 12,007 26,262 38,816 58,131 87,458 137,636 52 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate Title VI Indian Housing Guarantees FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Community Planning and Development: Community Development Loan Guarantees (Section 108) FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Housing Programs: FHA General and Special Risk Insurance Fund: FHA General and Special Risk Insurance FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FHA Mutual Mortgage Insurance Fund: Mutual Mortgage Insurance Program FY 1992 ................................................................................................ FY 1993 ................................................................................................ 11.07 11.07 11.07 11.07 10.56 10.32 12.26 7.40 5.08 6.64 10.65 14.54 11.26 28.99 .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥3.67 ¥5.99 ¥4.43 ¥0.42 3.98 0.94 16.73 ¥174 ¥196 ¥4,678 ¥448 ¥213 ¥1,501 1,511 ¥333 ¥577 ¥2,949 ¥67 410 44 1,511 ¥199 ¥227 ¥4,480 ¥496 ¥297 110 1,511 6,996 7,696 51,792 8,107 10,203 4,493 9,031 2.10 2.30 2.30 2.30 2.30 2.30 2.30 2.30 2.30 2.30 2.20 0.58 0.96 1.83 2.19 2.83 2.43 3.96 3.85 3.06 5.33 4.36 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) 0.58 0.96 1.83 2.19 2.83 2.43 3.96 3.85 3.06 5.33 4.36 ¥732 ¥2,088 81 ¥50 218 ¥797 ¥1,479 712 243 4,995 1,550 ¥6,160 ¥4,258 ¥1,814 ¥431 1,914 246 5,308 5,139 1,991 4,995 1,550 ¥4,394 ¥2,856 ¥1,380 ¥185 1,733 394 5,680 4,947 1,877 4,731 1,476 273,405 211,163 277,198 293,147 300,430 188,973 250,210 260,557 181,812 163,322 71,886 0.46 1.65 .......................... ¥0.39 .......................... ¥0.02 0.14 0.03 1.31 ¥0.14 ¥1.53 ¥1.02 ¥1.00 ¥0.34 ¥0.70 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥3.42 ¥2.86 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... (4) (4) .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥0.82 ¥0.16 ¥29,066 ¥1,795 ¥35,325 ¥38,429 ¥35,941 ¥46,090 ¥54,703 ¥115,386 ¥85,106 ¥92,179 ¥202,250 ¥413,804 ¥423,804 ¥173,041 109,274 ¥8,022 136 ¥144,590 ¥271,063 ¥573,688 1,769 362,383 ¥661,476 ¥183,546 ¥87,755 ¥235,157 ¥49,360 143,997 ¥28,153 ¥84,545 ¥234,737 109,274 ¥202,953 185,992 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥354,423 ¥113,673 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 43,436,967 71,620,236 ¥2.60 ¥2.70 53 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) 621,232 405,833 1,179,011 1,479,898 1,102,825 1,010,535 1,431,381 1,870,096 1,842,322 1,778,697 1,065,554 573,444 752,859 Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY FY FY FY FY FY FY FY 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ................................................................................................ ¥2.79 ¥1.95 ¥2.77 ¥2.88 ¥2.99 ¥2.62 ¥1.99 ¥2.15 ¥2.07 ¥2.53 ¥2.47 ¥1.80 ¥1.70 ¥2.03 ¥0.96 ¥1.35 ¥1.54 ¥1.81 ¥1.71 ¥0.30 ¥0.61 ¥0.66 ¥1.00 ¥1.49 ¥0.83 ¥0.18 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) 0.76 0.99 1.42 1.34 1.18 0.91 1.69 1.54 1.41 1.53 0.98 0.97 1.52 1,234 14,282 11,382 7,764 36,650 82,468 92,977 128,307 112,347 75,824 ¥202,294 ¥343,340 787,098 1,459,952 834,623 1,757,339 1,778,941 1,487,859 1,413,601 1,850,760 2,300,526 2,139,003 1,935,380 1,103,032 578,990 787,098 82,366,632 40,997,896 64,199,786 67,016,474 93,255,810 111,807,782 84,858,576 121,642,379 131,415,258 115,979,735 107,616,285 57,971,564 51,757,492 Government National Mortgage Association: Guarantees of Mortgage-Backed Securities FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loan Program FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... .......................... .......................... .......................... .......................... .......................... .......................... 0.32 0.42 0.29 0.36 0.33 0.33 0.27 0.23 0.23 (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 72,164,297 116,911,671 140,411,220 63,726,699 101,540,000 97,568,559 138,449,738 163,507,803 105,517,628 153,797,628 174,853,252 215,817,959 149,080,558 90,285,552 81,694,246 6.73 11.69 12.73 18.73 12.53 13.00 13.00 7.54 7.54 4.26 5.97 2.70 4.76 7.18 13.91 2.12 5.43 10.43 (4) (4) (4) (4) (4) (4) (4) (4) (4) ¥2.47 ¥5.72 ¥10.03 ¥13.97 ¥5.35 0.91 ¥10.88 ¥2.11 2.89 26 ¥40 ¥302 ¥79 ¥406 251 ¥177 ¥1,953 ¥2,370 ¥2,318 ¥2,406 ¥7,550 ¥6,862 ¥1,022 487 ¥2,141 ¥993 2,020 ¥1,210 ¥1,401 ¥5,536 ¥4,859 ¥825 122 ¥1,852 ¥988 1,559 48,990 24,501 55,190 34,785 15,428 13,447 17,019 46,810 53,928 54 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) Total disbursements to date ($ thousands) Original Subsidy Rate FY FY FY FY FY FY 2001 2002 2003 2004 2005 2006 ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... Department of Transportation 6.73 6.00 6.91 6.13 6.76 4.75 6.72 0.51 ¥0.52 ¥361 235 ¥4 17.17 0.29 10.88 4,054 7,119 5,924 13.91 0.37 6.63 ¥471 4,683 3,972 14.33 ¥0.02 8.22 6,897 6,897 6,166 (5) .......................... .......................... .......................... .......................... .......................... (5) .......................... .......................... .......................... .......................... .......................... 44,247 53,034 56,745 75,193 42,749 47,744 Office of the Secretary: Minority Business Resource Center FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Maritime Administration: Maritime Guaranteed Loan Program: Weighted Average FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ Department of Treasury Office of the Secretary: Air Transportation Stabilization Loan Guarantee Program FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... 2.69 2.53 2.08 1.85 1.37 0.11 ¥1.43 ¥115 ¥115 ¥104 3.75 0.05 1.17 113 113 105 5) .......................... .......................... .......................... .......................... .......................... ( (5) .......................... .......................... .......................... .......................... .......................... 7,896 8,611 7,865 2,015 1.69 9.88 9.88 6.76 8.66 5.47 4.26 6.47 4.60 5.62 6.20 6.06 ¥2.75 ¥3.52 0.16 6.89 21.01 ¥1.15 19.42 7.15 5.21 4.75 3.35 ¥0.17 ¥0.16 (4) (4) (4) 0.59 0.17 0.28 ¥1.29 0.65 0.36 1.20 0.03 ¥4.28 ¥13.40 ¥9.72 0.13 11.77 ¥6.79 14.88 1.97 ¥0.04 ¥1.23 ¥4.05 ¥6.26 ¥28 ¥205 ¥7,548 5,575 9,100 ¥4,659 ¥8,177 7,984 ¥3,329 ¥8,216 ¥4,527 ¥1,112 ¥2,121 ¥20,044 ¥34,795 3,010 24,730 ¥35,091 128,765 7,321 3,549 ¥3,181 ¥9,214 ¥10,935 ¥2,105 ¥19,926 ¥30,435 932 21,079 ¥33,254 131,686 5,387 4,223 ¥1,962 ¥8,686 ¥10,818 47,394 148,672 313,095 714,382 170,657 502,434 868,889 787,975 690,791 225,347 305,356 173,654 40.11 13.13 ¥8.93 ¥23.29 ¥2.70 ¥10.36 0.43 0.03 ¥0.49 ¥63.83 ¥15.86 ¥0.94 ¥6,668 ¥34,942 100 ¥212,332 290,951 ¥432 ¥196,344 283,701 ¥430 429,000 1,168,000 30,000 2.19 2.33 1.36 1.59 0.21 0.20 .......................... ¥0.14 ¥0.02 ¥0.81 ¥2.13 ¥1.48 ¥26,778 ¥41,924 ¥52,445 ¥189,916 ¥812,314 ¥794,585 ¥117,249 ¥737,535 ¥658,955 26,473,457 44,040,055 44,630,046 55 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) ¥327,689 ¥521,136 ¥323,835 ¥342,864 ¥415,915 ¥304,936 ¥158,517 ¥253,415 ¥446,250 ¥208,696 ¥31,653 ¥47,000 20,211 51,026 62,288 64,245 65,710 10,749 ¥3,759 ¥34,481 ¥41,635 ¥38,451 ¥46,338 ¥18,199 ¥11,674 Total disbursements to date ($ thousands) Original Subsidy Rate FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Guaranteed Loan Sale Securities FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... International Assistance Programs Agency for International Development: Micro and Small Enterprise Development Program FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... Development Credit Authority (DCA): DCA FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ 1.18 1.56 0.74 0.49 0.45 0.68 0.29 0.39 0.81 0.50 ¥0.32 ¥0.32 .......................... .......................... .......................... .......................... .......................... .......................... .......................... 5.69 5.45 5.21 5.05 5.06 5.65 ¥0.27 ¥0.21 ¥0.23 0.16 ¥0.53 ¥0.30 ¥0.33 0.01 ¥0.47 ¥0.03 ¥0.77 ¥0.05 ¥0.20 0.01 ¥0.28 0.05 0.13 0.19 ¥0.09 ¥0.05 ¥0.43 0.03 ¥0.52 .......................... 1.65 3.21 4.29 4.77 5.22 1.14 ¥0.40 2.10 2.61 0.45 0.25 ¥1.44 1.73 (4) (4) (4) (4) (4) (4) (4) (4) ¥0.08 0.02 0.28 0.30 0.11 ¥1.24 ¥1.95 ¥0.97 ¥0.83 ¥0.89 ¥1.40 ¥0.50 ¥0.72 ¥0.87 ¥0.54 ¥0.14 ¥0.20 1.65 3.21 4.29 4.77 5.22 1.14 ¥0.40 ¥3.59 ¥2.76 ¥4.78 ¥5.08 ¥6.80 ¥4.03 ¥28,953 ¥35,854 ¥35,113 ¥69,054 ¥85,018 ¥45,550 ¥76,528 ¥94,518 ¥114,300 ¥8,512 28,327 ¥49,248 4,183 ¥6,489 ¥49,956 1,585 2,997 ¥1,424 ¥5,643 ¥7,935 ¥11,297 ¥4,037 ¥5,067 ¥2,284 661 ¥392,565 ¥662,455 ¥469,687 ¥571,758 ¥663,871 ¥404,076 16,152 ¥309,493 ¥480,325 ¥217,477 ¥31,832 ¥49,248 34,625 77,246 67,745 92,250 79,554 6,884 ¥14,347 ¥44,218 ¥53,365 ¥45,176 ¥50,498 ¥19,196 ¥12,114 24,514,642 32,082,686 27,191,137 44,709,106 47,235,321 21,799,649 34,064,438 38,871,184 66,656,165 35,693,154 24,137,705 23,499,949 1,234,037 1,591,309 1,407,246 1,351,043 1,262,970 979,856 1,127,250 967,977 1,487,972 808,091 967,494 282,669 297,104 6.05 5.59 3.81 4.80 9.61 4.50 5.65 2.04 3.73 3.77 3.69 0.96 ¥0.55 ¥2.53 ¥3.63 13.13 ¥0.01 5.23 1.22 1.67 3.80 5.08 3.32 1.03 0.49 ¥4.80 ¥9.61 ¥8.41 ¥7.17 ¥6.83 ¥3.63 13.13 ¥2.91 1.05 ¥0.43 1.67 3.80 5.08 ¥742 ¥980 ¥1,495 ¥12 34 1,193 ¥267 556 ¥1,180 490 1,254 ¥1,208 ¥1,812 ¥1,947 ¥12 34 ¥2,812 ¥222 372 ¥1,180 490 1,254 ¥1,007 ¥1,469 ¥1,652 ¥11 31 ¥1,031 ¥319 402 ¥1,008 440 1,180 48,448 45,808 33,829 276 674 56,252 15,503 68,487 56,595 124,292 97,068 ¥1.60 ¥1.47 ¥0.39 ¥3.73 ¥3.77 ¥3.69 56 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) 90 137 9,433 ¥2,101 ¥3,053 7,030 3,458 ¥581 5,858 ¥748 ¥1,768 8,806 ¥1,071 ¥2,689 ¥1,298 ¥9,065 ¥21,701 21,226 24,076 21,599 Total disbursements to date ($ thousands) Original Subsidy Rate FY 2005 ................................................................................................ FY 2006 ................................................................................................ Urban and Environmental Credit Program FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 2000 ..................................................................................................... Loan Guarantees to Israel FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... Loan Guarantees to Egypt FY 2005 ..................................................................................................... Overseas Private Investment Corporation: OPIC Loan Guarantees FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... NIS — Guaranteed Loans FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... 5.08 3.66 15.51 20.85 8.48 13.51 5.04 7.50 24.67 6.97 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 4.95 6.21 29.53 14.60 4.47 17.62 9.25 9.32 81.92 2.27 ¥0.06 0.58 ¥0.04 ¥0.10 ¥0.03 ¥0.57 ¥0.17 1.23 3.23 1.78 ¥5.08 ¥3.66 ¥5.56 ¥7.69 ¥2.88 ¥1.07 0.80 (4) (4) ¥7.88 (4) (4) (4) (4) (4) (4) 1.13 ¥0.12 0.58 0.58 4.95 6.21 19.58 1.44 ¥1.13 5.18 3.41 1.82 57.25 3.18 ¥0.06 0.58 ¥0.04 ¥0.10 ¥0.03 ¥0.57 ¥1.30 1.35 2.65 1.20 93 142 ¥1,339 ¥4,235 ¥4,866 ¥5,790 ¥2,925 ¥740 ¥1 ¥702 3,068 3,643 2,958 8,169 8,077 7,950 8,360 8,326 3,806 15,515 93 142 14,718 ¥10,865 ¥9,219 7,889 3,820 624 7,673 ¥1,046 2,374 21,649 2,886 1,990 3,620 ¥7,839 ¥1,942 24,822 25,266 23,206 34,279 5,320 53,000 94,000 153,750 138,000 76,450 39,000 10,000 21,500 2,000,000 1,563,000 1,250,000 1,751,300 1,250,000 1,411,868 1,600,000 1,750,000 750,000 1,250,000 0.52 1.92 2.45 1.91 3.72 0.32 ¥15.38 ¥12.18 ¥7.64 0.84 ¥6.43 ¥4.88 ¥2.41 ¥2.96 4.81 4.19 9.60 ¥10.35 (4) ¥10.87 ¥237 ¥49,395 ¥27,765 1.09 (4) ¥0.83 ¥12,514 ¥9,441 ¥1,238 ¥9.42 (4) ¥11.86 ¥8,778 ¥106,771 ¥74,178 3.25 (4) 1.34 ¥15,074 ¥26,948 17,718 ¥4.63 0.57 ¥8.92 ¥14,003 ¥71,032 ¥48,449 ¥1.00 0.18 ¥1.50 7,548 ¥20,553 ¥13,007 15.89 ¥0.71 31.98 ¥1,528 8,490 9,709 ¥11.32 ¥0.09 0.95 ¥327 ¥70,615 ¥56,600 9.96 ¥0.22 17.82 24,045 24,045 20,892 ¥3.35 0.03 ¥4.22 ¥18,600 ¥18,600 ¥15,282 ¥14.75 0.01 ¥8.33 ¥44,723 ¥44,723 ¥39,176 (5) .......................... .......................... .......................... .......................... .......................... (5) .......................... .......................... .......................... .......................... .......................... (5) .......................... .......................... .......................... .......................... .......................... 0.98 15.67 ¥14.38 (4) (4) (4) ¥3.83 ¥48,737 11.48 ¥118,754 ¥23.98 .......................... ¥27,842 32,470 ¥5,167 ¥15,084 24,796 ¥3,597 272,702 308,878 647,388 1,009,806 741,176 652,136 60,000 516,364 226,100 371,228 494,661 978,233 997,946 221,068 393,842 215,994 15,000 57 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) ¥19,268 Total disbursements to date ($ thousands) Original Subsidy Rate FY 1997 ..................................................................................................... Small Business Administration General Business Loan Programs: 7(a) General Business Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... 7(a) General Business Loans—DELTA FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... 7(a) General Business Loans — STAR FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... SBIC 301 Guaranty FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... Section 502 Local Development Companies FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... 4.93 ¥11.68 (4) ¥16.61 ¥1,708 ¥24,589 116,000 4.85 5.21 2.15 2.74 1.06 1.93 2.14 1.39 1.16 1.16 1.07 1.04 0.78 .......................... .......................... 4.86 3.15 3.47 3.36 2.08 1.83 1.87 1.73 1.51 1.67 1.04 27.30 28.88 29.92 27.85 28.93 5.95 5.58 1.60 2.49 0.53 1.87 0.22 0.58 0.04 2.38 0.23 0.99 .......................... 0.60 0.30 0.84 ¥0.91 1.14 ¥0.50 1.51 ¥0.07 1.27 0.05 ¥0.16 0.14 0.64 .......................... 0.36 ¥0.17 ¥0.01 ¥0.06 ¥0.08 .......................... 1.00 9.23 0.90 6.00 9.31 6.21 21.24 ¥2.48 1.30 0.74 0.46 ¥2.17 29.13 30.11 29.13 30.04 5.93 1.24 1.50 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) ¥2.89 ¥3.56 ¥1.61 ¥0.59 ¥0.07 ¥1.63 ¥0.39 0.25 0.42 0.06 ¥1.37 ¥0.40 ¥0.25 0.05 ¥0.08 ¥3.86 6.08 ¥2.57 2.64 7.23 4.38 19.37 ¥4.21 ¥0.21 ¥0.93 ¥0.58 ¥29.47 0.25 0.19 1.28 1.11 ¥0.02 ¥4.34 ¥0.10 ¥3,045 ¥3,146 ¥3,402 ¥4,194 ¥4,278 ¥2,657 ¥953 4,361 15,510 31,861 9,041 ¥18,326 ¥56,553 ¥18,018 ¥7,265 * ¥53 ¥73 236 56 ¥264 194 ¥8 ¥2 580 ¥6,609 ¥387 ¥784 ¥* ¥* ¥* ¥1 ¥250 ¥13 ¥155,546 ¥229,234 ¥175,550 799 6,308 ¥96,778 ¥95,874 ¥12,399 52,351 16,669 ¥117,503 ¥37,067 ¥51,120 ¥848 ¥7,265 ¥91 2,377 ¥1,207 1,130 3,741 826 595 ¥48 ¥* ¥16,925 ¥8,630 ¥10,086 64 55 647 15 ¥17 ¥3,349 ¥75 ¥126,908 ¥200,086 ¥113,707 ¥9,162 ¥6,732 ¥105,556 ¥99,968 ¥21,866 29,609 8,597 ¥108,385 ¥33,033 ¥47,535 ¥260 ¥6,971 ¥47 1,267 ¥696 712 2,524 590 472 ¥42 ¥* ¥14,840 ¥7,811 ¥3,612 49 25 299 8 ¥7 ¥1,481 ¥35 5,225,979 5,924,899 7,192,434 7,142,254 6,611,630 7,887,322 7,648,894 8,624,163 8,958,110 8,525,608 8,898,273 8,296,066 11,729,569 12,932,252 9,062,264 1,220 21,115 27,309 27,296 35,028 13,508 2,470 1,002 150 1,637,035 1,378,541 12,290 11,030 13,240 23,320 700 28,070 34,301 36,626 58 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) ¥410 15,773 7,901 64,145 38,082 39,522 ¥25,771 ¥21,590 ¥13,521 ¥8,178 ¥15,263 ¥47,178 ¥78,602 ¥89,570 ¥76,165 ¥29,088 ¥132 ¥2,906 ¥8,226 ¥72 ¥104 ¥178 ¥133 ¥27 ¥76 ¥149 4,115 ¥497 ¥17,772 ¥32,180 ¥44,372 ¥29,292 14,146 12,905 ¥418 ¥9,060 8,800 4,201 ¥3,331 ¥675 Total disbursements to date ($ thousands) Original Subsidy Rate FY 1995 ..................................................................................................... Section 504 Certified Development Companies Debentures FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Section 504 Certified Development Companies—DELTA FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... Section 7(m) Microloan Guaranty FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... SBIC Debentures FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... 1.50 0.49 0.54 0.51 0.57 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 0.57 1.01 0.72 1.29 11.95 8.21 8.15 7.97 8.32 7.95 14.29 15.40 16.25 14.65 15.46 3.19 1.94 1.38 .......................... .......................... .......................... .......................... .......................... .......................... 0.39 3.28 1.66 5.83 3.78 2.05 ¥2.13 ¥1.46 ¥0.90 ¥0.52 ¥0.78 ¥2.33 ¥2.95 ¥2.92 ¥2.36 ¥1.90 ¥1.02 ¥167.29 ¥155.13 ¥2.85 5.36 1.01 4.50 6.46 1.67 0.49 21.21 14.69 ¥1.16 ¥16.16 ¥25.93 ¥18.52 4.99 5.89 ¥0.42 ¥2.35 2.31 1.26 ¥0.88 ¥0.32 (4) .......................... .......................... 1.68 2.40 ¥0.01 ¥0.07 ¥1.35 0.30 0.05 0.06 0.06 0.06 .......................... .......................... .......................... (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) 0.19 0.07 ¥0.46 0.41 ¥0.02 ¥0.01 ¥2.89 ¥2.36 (4) (4) .......................... .......................... .......................... .......................... ¥1.11 2.79 1.12 3.64 0.81 2.06 ¥2.06 ¥0.11 ¥1.20 ¥0.57 ¥0.84 ¥2.39 ¥3.01 ¥2.92 ¥2.36 ¥1.90 ¥1.59 ¥168.30 ¥155.85 ¥4.14 ¥6.59 ¥7.20 ¥3.65 ¥1.51 ¥6.65 ¥7.46 6.73 ¥0.78 ¥16.95 ¥31.22 ¥41.37 ¥21.70 5.94 6.87 ¥0.42 ¥2.35 2.31 1.26 ¥0.88 ¥0.32 25 54 ¥1,941 ¥807 195 ¥4,977 ¥3,824 ¥5,751 ¥8,690 ¥6,715 ¥2,609 ¥10,162 ¥15,011 ¥24,934 ¥49,936 ¥30,319 ¥5 ¥7 ¥3 4 ¥8 ¥13 ¥10 ¥2 ¥5 ¥9 ¥1,296 ¥3,510 6,483 2,446 ¥1,491 ¥15,378 ¥55,149 ¥1,950 ¥12,140 ¥7,649 ¥9,317 ¥2,369 ¥8,778 ¥2,251 ¥827 9,819 ¥6,772 82,239 37,537 29,454 ¥24,225 ¥17,360 ¥13,787 ¥11,245 ¥19,019 ¥53,847 ¥83,428 ¥95,054 ¥79,680 ¥30,319 ¥244 ¥4,976 ¥12,378 ¥104 ¥189 ¥296 ¥206 ¥39 ¥111 ¥186 10,718 2,328 ¥29,324 ¥58,154 ¥75,715 ¥50,385 10,810 15,232 25 ¥9,729 9,892 4,356 ¥3,762 ¥732 36,985 562,596 723,343 1,135,379 1,314,744 2,076,042 1,203,911 1,464,717 1,596,437 1,492,097 1,910,784 2,056,876 2,650,043 3,132,714 3,322,741 1,594,035 8,463 1,727 5,278 1,725 1,579 2,473 3,654 1,757 1,150 2,000 60,060 63,350 100,000 104,430 108,570 138,725 382,035 292,750 296,155 391,360 371,840 349,930 404,140 229,280 59 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1—Continued (in percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ thousands) Net lifetime reestimate amount 3 ($ thousands) Net lifetime reestimate amount, excluding interest ($ thousands) ¥155 ¥20,007 37,929 5,030 72,061 57,243 442,139 458,090 305,820 137,166 192,444 293,897 338 541 222,724 11,127 ¥11,440 Total disbursements to date ($ thousands) Original Subsidy Rate FY 2006 ..................................................................................................... SBIC Participating Securities FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... SBIC New Market Venture Capital FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... Secondary Market Guarantee FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Other Independent Agencies Export-Import Bank of the United States: Short, Medium, and Long Term Guarantees and Insurance Program FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2005 ..................................................................................................... .......................... 9.00 8.90 9.00 3.29 2.20 2.19 1.80 1.31 .......................... .......................... .......................... 14.47 15.46 (7) .......................... .......................... ¥0.24 .......................... ¥3.78 ¥0.41 26.71 0.18 11.47 ¥0.02 34.91 ¥0.10 10.38 ¥0.93 49.67 ¥1.03 43.19 0.26 22.58 ¥0.24 13.62 ¥0.22 22.05 .......................... 22.71 .......................... 18.24 1.16 18.01 .......................... 0.58 .......................... 0.28 .......................... ¥0.33 .......................... ¥0.24 ¥12.37 17.63 2.49 31.72 9.11 48.51 41.13 21.51 13.84 22.05 22.71 2.61 2.55 0.58 0.28 ¥0.33 ¥162 ¥411 6,926 1,464 30,395 ¥35,041 ¥27,895 ¥48,457 ¥100,268 ¥106,172 51,558 192,050 136 264 32,328 16,696 ¥11,996 ¥162 ¥21,856 87,035 21,386 114,930 67,029 543,057 519,834 362,868 146,516 206,715 312,056 380 588 234,191 12,376 ¥11,996 67,625 149,660 219,940 231,230 232,830 677,825 930,450 1,089,560 1,677,425 1,084,340 905,980 1,345,580 9,560 22,070 38,008,032 4,224,301 3,633,474 4.54 3.13 3.92 6.83 6.57 6.52 7.79 5.95 6.77 6.99 5.87 ¥0.55 1.26 2.35 ¥2.58 ¥1.56 ¥3.34 ¥2.96 ¥1.98 1.23 ¥0.73 ¥0.64 ¥0.87 ¥2.29 ¥0.63 0.80 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) ¥2.19 ¥5.71 ¥5.48 ¥10.16 ¥9.52 ¥8.50 ¥6.56 ¥6.69 ¥7.41 ¥7.86 ¥8.16 ¥0.08 ¥0.46 ¥262,185 ¥139,089 10,922 2,830 ¥388,677 ¥9,786 ¥62,283 14,899 ¥29,234 39,946 ¥121,562 ¥70,537 ¥2,191 ¥963,711 ¥739,845 ¥749,800 ¥752,163 ¥928,411 ¥905,919 ¥934,786 ¥1,037,888 ¥1,103,675 ¥917,386 ¥1,025,599 ¥237,768 ¥3,020 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 167 8,102,397 10,187,672 9,448,361 5,489,964 6,449,940 8,422,038 6,937,365 11,416,184 9,722,226 10,660,682 12,511,067 18,854,408 702,278 * Nonzero amount rounds to zero, based on units for this column. 1 Reestimates for some programs did not appear in the 2008 Appendix because they were $500,000 or less. Information on all cohorts is provided in the electronic version of the Federal Credit Supplement at www.budget.gov/budget/ 2 Current year reestimates, including interest on reestimates. 3 Total (net cumulative) reestimates, including interest on reestimates. 4 Breakout between technical and interest reestimates is not available. 60 5 6 7 Reestimates have not yet been calculated. Includes the SLS loan program, for which loans were last originated in 1994. The SMG program was brought on budget as subject to the Federal Credit Reform Act in 2004. The 2004 cohort includes activity for all cohorts prior to and including 2004. 61 Table 9.—DIRECT LOAN PROGRAM DISBURSEMENT RATES IN THE 2008 BUDGET 1 Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Two Three Four Five Six Seven Eight Nine Ten and Later Department of Agriculture Farm Service Agency: Agricultural Credit Insurance Fund: Farm Operating .................................................................................................................................. Indian Land Acquisition ..................................................................................................................... Emergency Disaster .......................................................................................................................... Boll Weevil Eradication ...................................................................................................................... Farm Ownership ................................................................................................................................ Farm Storage Facility Loan Program .................................................................................................... Sugar Storage Facility Loan Program ................................................................................................... Rural Community Advancement Program: Community Facility Loans ................................................................................................................. Water and Waste Disposal Loans .................................................................................................... Rural Utilities Service: Broadband Treasury Loans ................................................................................................................... Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans ................................................................................................................ FFB Electric Loans ........................................................................................................................ Telephone: Telecommunication Hardship Loans ............................................................................................. FFB Telecommunications Loans .................................................................................................. Treasury Telecommunication Loans ............................................................................................. Rural Housing Service: Rural Housing Insurance Fund: Single-Family Housing Credit Sales ................................................................................................. Multi-Family Housing Credit Sales .................................................................................................... Section 504 Housing Repair ............................................................................................................. Section 524 Site Development ......................................................................................................... Section 514 Farm Labor Housing ......................................................................................................... Rural Business — Cooperative Service: Intermediary Relending Program ........................................................................................................... Rural Economic Development Loans .................................................................................................... Department of Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans ........................................................................................................ Department of Defense Family Housing: Military Housing Improvement Fund ..................................................................................................... ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ 88 6 6 ................ ................ ................ 70 16 14 ................ ................ ................ 91 6 3 ................ ................ ................ 76 24 ................ ................ ................ ................ 79 18 3 ................ ................ ................ 41 59 ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ 11 4 10 31 22 55 30 29 25 14 20 5 11 3 5 ................ ................ ................ ................ ................ ................ ................ 2 3 ................ ................ ................ ................ ................ ................ ................ 2 2 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 2 ................ 2 2 10 ................ ................ ................ ................ ................ ................ 10 16 1 6 2 31 20 19 15 17 22 15 16 11 15 16 11 13 11 13 10 16 13 11 11 7 12 13 11 11 4 ................ ................ ................ 10 ................ ................ ................ 9 10 10 9 9 10 5 8 5 2 8 6 100 ................ ................ ................ ................ ................ 92 8 ................ ................ ................ ................ 88 12 * ................ ................ ................ 12 64 23 ................ ................ ................ 28 37 19 16 ................ ................ 6 22 28 59 24 12 16 4 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 10 16 ................ ................ ................ ................ 3 ................ ................ ................ ................ ................ 35 51 5 7 1 1 ................ ................ ................ ................ 63 Table 9.—DIRECT LOAN PROGRAM DISBURSEMENT RATES IN THE 2008 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Two Three Four Five Six Seven Eight Nine Ten and Later Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations ............................................................................................ Subsidized Stafford ............................................................................................................................ Unsubsidized Stafford ........................................................................................................................ PLUS .................................................................................................................................................. Consolidated ...................................................................................................................................... Department of Homeland Security Federal Emergency Management Agency: State Share Loans ................................................................................................................................. Community Disaster Loans .................................................................................................................... Department of State Bureau of Consular Affairs: Repatriation Loans ................................................................................................................................. Department of Transportation Federal Highway Administration: Transportation Infrastructure Finance and Innovation: TIFIA Direct Loans ............................................................................................................................ TIFIA Lines of Credit ......................................................................................................................... Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Program ............................................................. Department of Treasury Community Development Financial Institutions: Community Development Financial Institutions Fund ........................................................................... ................ ................ Department of Veterans Affairs Benefits Programs: Acquired Loans ...................................................................................................................................... Vendee Loans ........................................................................................................................................ Native American Veteran Housing Loans ............................................................................................. Vocational Rehabilitation Loan Fund .................................................................................................... Veterans Health Administration: Transitional Housing for Homeless Veterans ....................................................................................... International Assistance Programs Overseas Private Investment Corporation: OPIC Direct Loans ................................................................................................................................. 67 33 ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ 100 ................ ................ ................ ................ 87 13 ................ ................ ................ 100 ................ ................ ................ ................ 21 76 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 78 89 22 2 * ................ ................ ................ ................ ................ ................ ................ 8 ................ ................ ................ ................ ................ ................ ................ 73 66 65 61 100 27 34 35 39 * ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 20 10 57 20 10 34 20 10 5 20 10 2 20 ................ ................ ................ ................ ................ 10 10 10 10 10 10 1 ................ ................ ................ ................ ................ 3 ................ ................ ................ ................ ................ ................ ................ 64 Table 9.—DIRECT LOAN PROGRAM DISBURSEMENT RATES IN THE 2008 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Two Three Four Five Six Seven Eight Nine Ten and Later Small Business Administration General Business Loan Programs: Section 7(m) Microloans ........................................................................................................................ Disaster Loan Program: Disaster Assistance ................................................................................................................................ Other Independent Agencies Export-Import Bank of the United States: Long and Medium Term Loans (including Tied Aid) ............................................................................ 10 50 25 15 ................ ................ ................ ................ ................ ................ 26 68 47 28 17 6 3 1 * ................ ................ ................ 5 ................ ................ ................ ................ ................ ................ ................ * Nonzero amount rounds to zero, based on units for this column. 1 In some cases, disbursement rates may not add to 100 percent due to cancellations between the time of obligation and disbursement. 65 Table 10.—LOAN GUARANTEE PROGRAM DISBURSEMENT RATES IN THE 2008 BUDGET 1 Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Two Three Four Five Six Seven Eight Nine Ten and Later Department of Agriculture Farm Service Agency: CCC Export Loan Guarantees: GSM 102 ............................................................................................................................................ Facilities ............................................................................................................................................. Supplier Credit ................................................................................................................................... Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ........................................................................................................ Farm Operating—Subsidized ............................................................................................................ Farm Ownership—Unsubsidized ....................................................................................................... Rural Community Advancement Program: Business and Industry Loans ................................................................................................................ Community Facility Loans ...................................................................................................................... Water and Waste Disposal Loans ........................................................................................................ Rural Housing Service: Rural Housing Insurance Fund: Section 502 Single-Family Housing Purchase ................................................................................. Section 502 Single-Family Housing Refinance ................................................................................ 538 Multi-Family Housing—Subsidized ............................................................................................. Rural Business Cooperative Services: Renewable Energy ................................................................................................................................. Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments ........................................................................................ Subsidized Stafford ............................................................................................................................ Unsubsidized Stafford ........................................................................................................................ PLUS .................................................................................................................................................. Consolidated ...................................................................................................................................... Department of Energy Energy Programs: Title 17 Innovative Technology Loan Guarantees ................................................................................ Department of Housing and Urban Development Public and Indian Housing Programs: Indian Housing Loan Guarantees ......................................................................................................... Title VI Indian Housing Guarantees ...................................................................................................... Native Hawaiian Housing Loan Guarantees ......................................................................................... Housing Programs: FHA General and Special Risk Insurance Fund: Multifamily Development .................................................................................................................... Section 221(d)(3) Cooperatives ........................................................................................................ Tax Credit New Construction ............................................................................................................ 50 25 50 35 50 35 11 4 ................ ................ ................ ................ ................ ................ 25 ................ ................ ................ ................ ................ ................ ................ 11 4 ................ ................ ................ ................ ................ ................ 40 49 11 ................ ................ ................ ................ ................ ................ ................ 70 70 70 83 83 83 49 11 6 30 ................ ................ ................ ................ ................ ................ ................ ................ 30 ................ ................ ................ ................ ................ ................ ................ ................ 30 ................ ................ ................ ................ ................ ................ ................ ................ 15 15 15 40 32 27 2 ................ ................ ................ ................ ................ ................ ................ 2 ................ ................ ................ ................ ................ ................ ................ 2 ................ ................ ................ ................ ................ ................ ................ 11 ................ ................ ................ ................ ................ ................ ................ 31 13 8 2 2 1 ................ ................ 41 14 8 4 ................ ................ ................ ................ 75 79 4 45 25 ................ ................ ................ ................ ................ ................ ................ ................ 21 ................ ................ ................ ................ ................ ................ ................ ................ 15 18 20 14 14 8 4 3 ................ 38 13 2 2 ................ ................ ................ ................ ................ 77 65 65 61 100 23 35 35 39 * ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 75 75 75 25 ................ ................ ................ ................ ................ ................ ................ ................ 25 ................ ................ ................ ................ ................ ................ ................ ................ 25 ................ ................ ................ ................ ................ ................ ................ ................ 67 Table 10.—LOAN GUARANTEE PROGRAM DISBURSEMENT RATES IN THE 2008 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Two Three Four Five Six Seven Eight Nine Ten and Later ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Apartment Refinance ......................................................................................................................... Section 241 Supplemental Loans ..................................................................................................... Multifamily Operating Loss Loans ..................................................................................................... Housing Finance Authority Risk Sharing .......................................................................................... GSE Risk Sharing ............................................................................................................................. Health Care and Nursing Homes ..................................................................................................... Health Care Refinance ...................................................................................................................... Hospitals ............................................................................................................................................ Other Rental ...................................................................................................................................... Section 234 Condominiums .............................................................................................................. Section 203(k) Rehabilitation Mortgage ............................................................................................ Title I Property Improvement ............................................................................................................ Title I Manufactured Housing ............................................................................................................ FHA Mutual Mortgage Insurance Fund: Mutual Mortgage Insurance Program ............................................................................................... Government National Mortgage Association: Guarantees of Mortgage-Backed Securities ......................................................................................... Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loan Program ......................................................................................................... Indian Insured Loan Program ................................................................................................................ Department of Transportation Office of the Secretary: Minority Business Resource Center ...................................................................................................... Federal Highway Administration: TIFIA Loan Guarantees ......................................................................................................................... Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Guaranteed Loans ............................................ Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................................................................................... International Assistance Programs Agency for International Development: Development Credit Authority (DCA): DCA .................................................................................................................................................... DCA Line of Credit ............................................................................................................................ Loan Guarantees to Israel ..................................................................................................................... Overseas Private Investment Corporation: OPIC Loan Guarantees ......................................................................................................................... OPIC Investment Funds ........................................................................................................................ 75 75 75 75 75 75 75 75 75 100 100 100 100 25 25 25 25 25 25 25 25 25 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 50 50 33 33 17 ................ ................ ................ ................ ................ ................ ................ 17 ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 20 ................ 57 34 20 ................ 5 2 20 ................ 20 ................ 20 ................ 1 ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 56 14 14 17 ................ ................ ................ ................ ................ ................ 16 26 26 32 ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 50 16 50 ................ ................ ................ ................ ................ ................ ................ ................ 16 16 16 16 16 3 3 ................ ................ 68 Table 10.—LOAN GUARANTEE PROGRAM DISBURSEMENT RATES IN THE 2008 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Two Three Four Five Six Seven Eight Nine Ten and Later Small Business Administration General Business Loan Programs: 7(a) General Business Loans ................................................................................................................ Section 504 Certified Development Companies Debentures ............................................................... SBIC Debentures ................................................................................................................................... Secondary Market Guarantee ............................................................................................................... Other Independent Agencies Export-Import Bank of the United States: Short, Medium, and Long Term Guarantees and Insurance Program: Risk Category A ................................................................................................................................ Risk Category B ................................................................................................................................ 65 32 2 * * * * * * * 27 52 17 3 1 * * * * ................ 24 38 19 12 7 ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 25 75 ................ ................ ................ ................ ................ ................ ................ ................ * Nonzero amount rounds to zero, based on units for this column. 1 In some cases, disbursement rates may not add to 100 percent due to cancellations between the time of obligation and disbursement. 69

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