Supplementary Tables for Credit Programs

fisca L Yea r 2009 F e der a l Cr e di t Su p p l ement budget of the u.s. government office of management and budget 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 2008 Subsidy Estimates..........................................................................................9 Table 4 - Loan Guarantees: Assumptions Underlying the 2008 Subsidy Estimates .................................................................................13 Table 5 - Direct Loans: Assumptions Underlying the 2009 Subsidy Estimates........................................................................................17 Table 6 - Loan Guarantees: Assumptions Underlying the 2009 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 2009 Budget .................................................................................................61 Table 10 - Loan Guarantee Program Disbursement Rates in the 2009 Budget .........................................................................................65 i Introduction The 2009 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 2008 and 2009 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 2009 Budget for additional information about BEA categories). Tables 3 and 4 provide information about the major components of 2008 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 2009 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 1992-2007 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. Tables 9 and 10 show the rate at which the 2009 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) 2008 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Obligations Average loan size Subsidy rate (percent) 2009 Obligations Average loan size Department of Agriculture Farm Service Agricultural Credit Insurance Fund: Farm Ownership .............................................................................................................................................. Farm Operating ................................................................................................................................................ Indian Tribe Land Acquisition .......................................................................................................................... Emergency Disaster ......................................................................................................................................... Boll Weevil Eradication .................................................................................................................................... Farm Storage Facility Loan Program .................................................................................................................. Sugar Storage Facility Loan Program ................................................................................................................. Rural Utilities Service: Water and Waste Disposal Loans ....................................................................................................................... Distance Learning and Telemedicine Loans ....................................................................................................... Broadband Treasury Loans ................................................................................................................................. Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans .............................................................................................................................. FFB Electric Loans ...................................................................................................................................... FFB Electric Loans (Legislative Proposal) ................................................................................................. Direct Electric Loans (Legislative Proposal) ............................................................................................... Telephone: Telecommunication Hardship Loans ........................................................................................................... FFB Telecommunications Loans ................................................................................................................. FFB Telecommunications Loans (Legislative Proposal) ............................................................................ Direct Telecommunications Loans (Legislative Proposal) .......................................................................... Treasury Telecommunication Loans ........................................................................................................... Rural Housing Service: Community Facility Loans .................................................................................................................................... Rural Housing Insurance Fund: Single-Family Housing Credit Sales ................................................................................................................ Multi-Family Housing Credit Sales .................................................................................................................. Section 502 Single-Family Housing ................................................................................................................ Section 504 Housing Repair ........................................................................................................................... Section 515 Multi-Family Housing ................................................................................................................... Section 523 Self-Help Housing ....................................................................................................................... Section 524 Site Development ........................................................................................................................ Section 514 Farm Labor Housing ....................................................................................................................... Multi-Family Housing Relending Demo ............................................................................................................... Rural Business Cooperative Service: Intermediary Relending Program ......................................................................................................................... Rural Economic Development Loans .................................................................................................................. Agency: 1 Discretionary Discretionary Discretionary Discretionary Discretionary Mandatory Mandatory Discretionary Discretionary Discretionary 4.45 12.69 3.15 11.15 ¥0.27 1.01 0.98 6.81 2.14 2.15 222,298 575,883 3,940 46,054 100,000 150,000 2,500 1,025,000 28,265 495,000 132 5.72 252,902 132 42 11.79 628,372 42 985 6.29 3,975 795 72 ...................... ...................... ...................... 4,000 ¥0.56 59,400 2,970 50 6.25 150,000 50 1,250 ¥1.08 2,500 1,250 1,297 3.77 1,269,000 1,606 3,141 ...................... ...................... ...................... 15,469 3.90 297,923 16,551 Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Mandatory 0.12 99,300 7,638 ¥2.38 ¥0.70 6,500,000 114,035 ¥2.28 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ¥2.28 0.08 143,985 8,999 ¥1.76 0.62 292,935 13,949 ¥0.94 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ¥0.94 0.67 248,250 13,792 0.21 5.55 ¥1.15 37.14 9.37 28.27 42.61 2.84 ¥0.79 43.26 46.39 42.89 22.59 404,072 10,000 1,475 1,165,788 56,000 69,510 4,965 5,045 32,720 14,000 33,773 33,120 983 80 295 111 6 504 709 841 884 2,000 5.72 ¥2.59 36.12 ...................... 26.87 ...................... 1.65 ¥1.84 ...................... ...................... 100,000 7,692 4,000,000 117,647 (2) ...................... 4,000,000 117,647 145,000 9,063 295,000 14,048 (2) ...................... 295,000 14,048 250,000 14,706 302,430 10,000 1,447 ...................... 17,677 ...................... 4,303 5,045 ...................... ...................... 1,018 83 362 ...................... 7 ...................... 861 841 ...................... ...................... 866 41.85 33,772 913 895 ...................... ...................... ...................... 1 Table 1.—DIRECT LOANS: SUBSIDY RATES, OBLIGATIONS, AND AVERAGE LOAN SIZE—Continued (In thousands of dollars, unless noted otherwise) 2008 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Obligations Average loan size Subsidy rate (percent) 2009 Obligations Average loan size Department of Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans ....................................................................................................................... Traditional Direct Loans ................................................................................................................................... Seine Buyback ................................................................................................................................................. Department of Defense Family Housing: Family Housing Improvement Fund Direct Loans .............................................................................................. 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 ................................................................................................................................................................ Consolidated ..................................................................................................................................................... Consolidated (Legislative Proposal) ................................................................................................................ Loans for Short-Term Training (Legislative Proposal) ........................................................................................ TEACH Grants ..................................................................................................................................................... Office of Postsecondary Education: Historically Black College and University Capital Financing Program (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 ........................................................................... Discretionary 60.22 1,117 1 59.77 1,126 1 Discretionary Discretionary 1.73 25,000 12,500 93.30 ...................... ...................... 1.04 25,000 12,500 93.95 ...................... ...................... Discretionary 23.86 457,000 114,250 43.50 107,000 53,500 Discretionary Discretionary Discretionary ¥10.58 ¥4.63 1.00 8,000 59,000 23,500 348 ¥12.78 8,000 320 2,185 ...................... ...................... ...................... 23,500 ...................... ...................... ...................... Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Mandatory Discretionary Mandatory Discretionary 0.76 ...................... 9.74 ...................... ¥10.31 ...................... ¥11.75 9.88 ...................... ...................... 13.03 19,890,657 ...................... 6,945,682 ...................... 6,046,988 ...................... 2,700,651 4,197,336 ...................... ...................... 57,000 6 ...................... 4 ...................... 5 ...................... 11 24 ...................... ...................... 3 1.44 1.13 10.92 10.80 ¥9.82 ¥9.97 ¥11.75 11.03 9.99 ¥0.27 13.05 16.31 21,048,343 21,048,343 7,174,462 7,174,462 6,377,820 6,377,820 2,984,102 4,511,959 4,511,959 46,000 105,000 61,312 6 6 4 4 5 5 11 24 24 1 3 20,437 ...................... ...................... ...................... Discretionary Discretionary Discretionary 10.00 10.00 ...................... 2,120,000 200,000 600,000 530,000 100,000 10.00 10.00 798,000 200,000 600,000 199,500 100,000 40,000 40,000 ...................... 2 Table 1.—DIRECT LOANS: SUBSIDY RATES, OBLIGATIONS, AND AVERAGE LOAN SIZE—Continued (In thousands of dollars, unless noted otherwise) 2008 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Obligations Average loan size Subsidy rate (percent) 2009 Obligations Average loan size 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: 7(m) Direct Microloans ......................................................................................................................................... 7(m) Direct Microloans (Legislative Proposal) .................................................................................................... Disaster Loan Program: Disaster Assistance .............................................................................................................................................. Other Independent Agencies Export-Import Bank of the United States: Direct Loans: Tied Aid War Chest ...................................................................................................................... 1 Subsidy 2 Under Discretionary 37.52 8,000 1,600 37.88 2,000 400 Mandatory Mandatory Mandatory Discretionary Discretionary 8.84 ¥1.59 ¥14.48 2.16 68,592 268,007 12,428 3,287 137 112 207 1 3.04 ¥3.29 ¥10.07 1.93 99.18 65,099 256,649 12,676 3,180 6,221 140 115 211 1 3,111 ...................... ...................... ...................... Discretionary 3.22 342,000 3,420 2.34 450,000 4,500 Discretionary Discretionary Discretionary 10.12 20,000 444 ...................... ...................... ...................... ...................... ...................... ...................... ...................... 25,000 481 16.27 959,000 39 14.92 1,061,000 41 Discretionary 33.01 50,000 25,000 33.01 50,000 25,000 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. the legislative proposal, 2009 request for loans financed through the FFB would be replaced with loans financed directly through Treasury. 3 Table 2.—LOAN GUARANTEES: SUBSIDY RATES, COMMITMENTS, AND AVERAGE LOAN SIZE (In thousands of dollars, unless noted otherwise) 2008 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Commitments Average loan size Subsidy rate (percent) 2009 Commitments Average loan size Department of Agriculture Farm Service Agency: CCC Export Loan Guarantees: GSM 102 .......................................................................................................................................................... Facilities ............................................................................................................................................................ Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ....................................................................................................................... Farm Operating—Subsidized ........................................................................................................................... Farm Ownership—Unsubsidized ..................................................................................................................... Rural Utilities Service: Water and Waste Disposal Loans ....................................................................................................................... Rural Housing Service: Community Facility Loan Guarantees ................................................................................................................. Rural Housing Insurance Fund: Guaranteed 502 Single Family Housing, Purchase ....................................................................................... Guaranteed 502 Single Family Housing, Purchase (Legislative Proposal) ................................................... Guaranteed 502, Refinance ............................................................................................................................ Guaranteed 538 Multi-Family Housing ............................................................................................................ Guaranteed 538 (Legislative Proposal) ........................................................................................................... Rural Business Cooperative Services: Business and Industry Loan Guarantees ............................................................................................................ NAD Bank Loan Guarantees ............................................................................................................................... Renewable Energy Loan Guarantees ................................................................................................................. Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments ...................................................................................................... Subsidized Stafford .......................................................................................................................................... Unsubsidized Stafford ...................................................................................................................................... PLUS ................................................................................................................................................................ Consolidated ..................................................................................................................................................... Loans for Short-Term Training (Legislative Proposal) ........................................................................................ Department of Energy Energy Programs: Title 17 Innovative Technology Loan Guarantees .............................................................................................. Department of Health and Human Services Health Resources and Services Administration: Health Centers Loan Guarantees: Health Facilities Construction Loans ............................................................................................................... Discretionary ...................... 600,000 200,000 ...................... 2,220,000 222,000 Mandatory Mandatory Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary Discretionary 2.39 ¥0.05 2.42 13.34 0.40 ¥0.82 3.68 2,214,000 60,000 1,090,761 269,986 1,247,000 75,000 209,899 1,163 2,000 190 202 306 5,769 4,664 0.87 4.04 2.49 13.79 0.33 ¥0.82 3.08 1.27 0.27 0.98 15.68 0.57 2,600,000 75,000 1,012,369 260,943 1,223,636 75,000 210,000 1,017,874 4,787,777 61,122 11,000 300,000 1,300 1,923 179 220 324 6,250 4,884 113 113 122 1,100 1,100 1.20 5,730,264 109 ...................... ...................... ...................... 0.81 269,376 118 9.40 140,616 1,099 ...................... ...................... ...................... 4.32 7.69 9.69 1,458,316 4,669 184,458 3,198 4.35 700,000 3,318 2,335 ...................... ...................... ...................... 650 ...................... ...................... ...................... Mandatory Mandatory Mandatory Mandatory Mandatory Discretionary 1.07 100,559,202 7 15.42 28,259,102 4 ¥3.73 28,069,068 5 ¥5.96 10,161,575 12 ¥4.78 34,069,457 30 ...................... ...................... ...................... 2.21 16.67 ¥3.07 ¥5.94 ¥2.27 1.02 109,117,188 29,218,486 29,646,025 11,242,219 39,010,458 316,000 7 4 5 13 31 1 Discretionary 3.41 8,000 1,600 ...................... ...................... ...................... 5 Table 2.—LOAN GUARANTEES: SUBSIDY RATES, COMMITMENTS, AND AVERAGE LOAN SIZE—Continued (In thousands of dollars, unless noted otherwise) 2008 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Commitments Average loan size Subsidy rate (percent) 2009 Commitments Average loan size 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 .................................................................................................................................. 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 234 Condominiums (Legislative Proposal) ........................................................................................ Section 203(k) Rehabilitation Mortgage .......................................................................................................... Section 203(k) Rehabilitation Mortgage (Legislative Proposal) ..................................................................... Home Equity Conversion Mortgages .............................................................................................................. Home Equity Conversion Mortgages (Legislative Proposal) .......................................................................... 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) ........................................................... Mutual Mortgage Insurance Program—Seller Financed Down Payment Assistance ................................... Government National Mortgage Association: Guarantees of Mortgage-Backed Securities ........................................................................................................ Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loans .................................................................................................................................... Indian Insured Loans ........................................................................................................................................... Department of Transportation Office of the Secretary: Minority Business Resource Center .................................................................................................................... Discretionary 2.03 18,367 510 1.86 18,367 510 Discretionary Discretionary 6.56 4.14 84,500 770 1,107 7.73 85,201 1,136 123 ...................... ...................... ...................... Discretionary Discretionary Discretionary Discretionary 2.42 12.12 2.42 2.25 367,000 17,000 41,000 200,000 229 1,700 160 2.52 12.34 2.52 420,000 17,000 41,000 233 1,700 160 5,000 ...................... ...................... ...................... 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 ¥0.83 900,000 13,846 ¥1.10 1,000,000 13,889 5.67 10,000 5,000 5.84 10,000 5,000 ¥3.20 700,000 5,645 ¥3.20 720,000 5,625 ¥2.75 1,500,000 3,049 ¥3.29 1,600,000 3,053 2.99 10,000 1,111 1.97 10,000 1,111 15.43 15,000 7,500 22.18 15,000 7,500 ¥1.25 120,000 7,059 ¥1.17 120,000 7,059 ¥1.42 15,000 1,875 ¥1.43 15,000 1,875 ¥0.68 500,000 10,417 ¥0.74 500,000 10,417 ¥1.58 1,150,000 5,990 ¥2.09 1,300,000 5,991 ¥2.66 1,100,000 73,333 ¥2.51 1,100,000 73,333 ¥1.82 15,000 3,000 ¥2.14 15,000 3,000 ¥0.88 3,657,416 151 ¥0.12 4,068,154 143 ...................... ...................... ...................... ...................... ...................... ...................... 1.89 538,421 115 2.29 648,941 123 ...................... ...................... ...................... ...................... ...................... ...................... ¥1.90 28,989,577 230 ¥1.37 33,338,014 230 ...................... ...................... ...................... ...................... ...................... ...................... 0.52 54,367 14 ¥0.52 54,367 14 0.13 71,121 38 ¥0.14 71,121 38 ¥0.51 72,172,152 140 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ¥0.21 77,400,000 160 1¥0.17 80,277,297 138 110,336,082 158 ¥1.37 40,944,000 236 6.35 ...................... ...................... ¥0.21 77,400,000 160 ¥0.01 6 Table 2.—LOAN GUARANTEES: SUBSIDY RATES, COMMITMENTS, AND AVERAGE LOAN SIZE—Continued (In thousands of dollars, unless noted otherwise) 2008 Agency, Bureau, Program and Risk Category BEA Category Subsidy rate (percent) Commitments Average loan size Subsidy rate (percent) 2009 Commitments Average loan size Federal Highway Administration: TIFIA Loan Guarantees ....................................................................................................................................... Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Guarantees ...................................................................... Maritime Administration: Maritime Guaranteed Loan Program: Weighted Average ........................................................................................................................................... Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................................................................................................. Guaranteed Loan Sale Securities ........................................................................................................................ International Assistance Programs Agency for International Development: Development Credit Authority (DCA): Loan Guarantees ............................................................................................................................................. 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 Loan Guarantees ........................................................................................................... Section 504 Certified Development Companies Debentures ............................................................................. SBIC Debentures ................................................................................................................................................. Secondary Market Guarantee .............................................................................................................................. Secondary Market Guarantee (Legislative Proposal) ......................................................................................... 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 Legislative Discretionary Discretionary 10.00 ...................... 200,000 100,000 100,000 10.00 200,000 100,000 100,000 20,000 20,000 ...................... Discretionary 4.35 115,000 38,333 ...................... ...................... ...................... Mandatory Mandatory ¥0.37 2.14 34,761,311 436,435 193 ¥0.66 35,816,558 199 89 ...................... ...................... ...................... Discretionary Discretionary Discretionary Discretionary Discretionary 4.88 24.40 ...................... 2.74 ¥3.94 328,000 20,000 700,000 438,000 900,000 11,714 3.21 2,500 1.31 700,000 ...................... 3,344 100,000 2.27 ¥3.18 436,000 39,000 700,000 600,000 800,000 12,824 2,438 700,000 2,804 100,000 Discretionary Discretionary Discretionary Discretionary Discretionary ...................... 17,500,000 145 ...................... 7,500,000 582 ...................... 3,000,000 18,987 ...................... 12,000,000 8,602 ...................... ...................... ...................... ...................... ¥0.07 ...................... ...................... ...................... 17,500,000 7,500,000 3,000,000 12,000,000 12,000,000 144 599 18,987 8,602 8,602 Discretionary Discretionary 1.41 ¥2.46 2,566,000 11,144,000 4,502 4,501 0.60 ¥3.71 6,136,000 7,671,000 4,502 4,499 proposal includes moving the Section 234 Condominiums and Section 203(k) Rehabilitation Mortgages from the General and Special Risk Insurance Fund to the Mutual Mortgage Insurance Fund. 7 Table 3.—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 Ownership ....................................................................... Farm Operating ........................................................................ Indian Tribe Land Acquisition .................................................. Emergency Disaster ................................................................. Boll Weevil Eradication ............................................................ Farm Storage Facility Loan Program .......................................... Sugar Storage Facility Loan Program ......................................... Rural Utilities Service: Water and Waste Disposal Loans ............................................... Distance Learning and Telemedicine Loans ............................... 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: Community Facility Loans ............................................................ Rural Housing Insurance Fund: Single-Family Housing Credit Sales ........................................ Multi-Family Housing Credit Sales .......................................... Section 502 Single-Family Housing ........................................ Section 504 Housing Repair .................................................... Section 515 Multi-Family Housing ........................................... Section 523 Self-Help Housing ............................................... Section 524 Site Development ................................................ Section 514 Farm Labor Housing ................................................ Multi-Family Housing Relending Demo ....................................... 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 ............................................... Traditional Direct Loans ........................................................... Seine Buyback ......................................................................... 4.45 12.69 3.15 11.15 ¥0.27 1.01 0.98 6.81 2.14 2.15 0.12 ¥0.70 0.08 0.62 0.67 5.55 11.00 13.94 0.31 5.24 1.45 1.10 0.62 ¥6.72 ¥1.11 2.83 6.72 ¥2.00 0.02 0.36 .................. 0.17 .................. ¥0.14 .................. .................. .................. ¥0.82 .................. 0.28 ¥0.11 .................. .................. .................. ¥0.31 ¥0.01 ¥0.02 37 4 40 11 7 7 15 38 8 18 33 27 19 16 18 30 20 50 30 19 50 2 2 33 30 5.74 5.61 5.00 3.75 5.52 5.00 5.00 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 0.11 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 105.95 25.69 11.92 18.56 2.22 19.85 10.54 4.52 17.64 8.92 10.21 5.28 7.02 5.52 4.69 6.10 22.76 48.78 22.61 99.57 23.46 69.90 87.45 99.90 90.00 71.00 83.03 83.03 83.03 83.03 83.03 83.08 0.09 7.03 .................. 2.15 .................. .................. 2.17 .................. .................. 0.96 0.67 4.50 1 .............. .............. .............. 4.67 .............. .............. .............. .............. 4.89 1 .............. .............. .............. 5.00 5.06 5.00 4.79 4.90 4.50 6.72 6.22 6.22 1.00 6.22 3.00 6.22 1.00 1.00 1 .............. .............. .............. 1 .............. .............. .............. 1 .............. .............. .............. 1 .............. .............. .............. 1 .............. .............. .............. 1 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 3 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. ¥0.03 .................. ¥0.81 ¥1.37 .................. .................. 0.04 ¥0.22 0.03 ¥0.58 1.00 ¥0.96 .................. 0.85 ¥0.01 .................. 0.64 .................. .................. 0.73 5.40 .................. ¥15.38 ¥17.41 ¥13.44 29.14 ¥17.92 2.84 ¥1.71 44.45 46.39 ¥1.15 7.85 37.14 5.41 9.37 5.73 28.27 0.94 42.61 1.13 2.84 .................. ¥0.79 0.92 43.26 8.93 46.39 .................. 42.89 .................. 22.59 0.21 .................. 6.38 449.15 .................. .................. 17.09 4¥1.81 .................. 459.39 .................. .................. .................. .................. .................. 4¥10.11 .................. .................. .................. ¥0.64 ¥0.77 .............. 46.69 64.00 .............. 18.65 22.50 .............. 32.23 41.28 .............. 7.15 56.86 .............. 13.47 76.39 .............. ................ ................ .............. 0.99 ................ .............. 56.47 61.26 .............. 0.02 90.00 0.03 5.55 100.00 100.00 43.53 .................. 23.15 .................. 30 1.00 10 .............. 3 .............. .............. .............. 1 .............. .............. .............. ¥10.58 ¥4.63 1.00 0.38 0.15 10.62 ¥17.66 ¥0.68 7.38 ¥13.95 ¥0.57 9.73 ¥9.63 .................. .................. 21 25 40 6.92 .............. 0.50 .............. .............. 6.86 .............. 0.50 .............. .............. 6.32 .............. .............. .............. .............. 3.96 81.47 1.94 86.62 41.43 ................ 9 Table 3.—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 Defense Family Housing: Family Housing Improvement Fund Direct Loans ....................... Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations .................................. Subsidized Stafford .................................................................. Unsubsidized Stafford .............................................................. PLUS ........................................................................................ Consolidated ............................................................................. TEACH Grants .............................................................................. 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 ............................................................... 60.22 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 .............. .............. .............. .............. ................ ................ 23.86 9.03 14.83 .................. .................. 40 3.86 5 .............. .............. .............. 61.00 50.13 0.76 9.74 ¥10.31 ¥11.75 9.88 13.03 1.98 0.86 0.89 0.59 6.32 0.49 ¥7.39 ¥2.10 3.25 ¥2.38 ¥18.46 ¥2.38 ¥18.49 ¥4.00 ¥1.90 .................. 6.15 .................. 8.26 8.01 9.64 10.15 5.46 6.39 11 10 10 10 16 9 6.75 * 2.10 .............. 6.40 * 2.38 .............. 6.46 * 2.38 .............. 7.90 .............. 4.00 .............. 6.94 .............. .............. .............. 6.80 .............. .............. .............. .............. .............. .............. .............. .............. .............. 13.92 11.89 10.75 5.55 26.26 8.35 5105.62 5114.60 5114.60 5114.17 593.59 5114.60 10.00 10.00 .................. .................. .................. 10.00 .................. .................. .................. 10.00 3.85 ¥0.95 ¥2.90 .................. 38 35 25 5.21 5.21 5 .............. .............. .............. 15 .............. .............. .............. 2.90 73.66 94.44 61.61 63.47 56.62 61.91 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 ....................................................................... 3.22 8.84 ¥1.59 ¥14.48 2.16 37.52 5.14 .............. .............. .............. 17.23 20.29 .................. .................. 13 2.10 1 .............. .............. .............. 25.00 15.00 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 ................ 13.60 ¥1.31 ¥9.08 .................. 10 6.67 5 0.40 1.50 .............. 33.76 50.00 10 Table 3.—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 Small Business Administration General Business Loan Programs: 7(m) Direct Microloans ................................................................. Disaster Loan Program: Disaster Assistance ...................................................................... Other Independent Agencies Export-Import Bank of the United States: Direct Loans: Tied Aid War Chest .............................................. 33.01 5.97 31.50 ¥4.46 .................. 24 1.50 3 .............. 4.67 .............. 9.08 ................ 10.12 16.27 6¥0.05 8.37 .................. 11.47 .................. 1.80 ¥5.45 10 21 3.77 3.94 1 .............. .............. .............. ................ ................ 1 .............. .............. .............. 24.01 15.56 10.25 * 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 Recovery rate includes interest and penalties. 6 Default component reflects recoveries only; defaults are included in the all other component. 11 Table 4.—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 ........................................................................... Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ....................................... Farm Operating—Subsidized .......................................... Farm Ownership—Unsubsidized ..................................... Rural Utilities Service: Water and Waste Disposal Loan Guarantees .................... Rural Housing Service: Community Facility Loan Guarantees ................................. Rural Housing Insurance Fund: Guaranteed 502 Single Family Housing, Purchase ....... Guaranteed 502, Refinance ............................................ Guaranteed 538 Multi-Family Housing ........................... Rural Business Cooperative Services: Business and Industry Loan Guarantees ............................ NAD Bank Loan Guarantees ............................................... Renewable Energy Loan Guarantees ................................. 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 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 .................................... 2.42 12.12 3.42 ................ ¥1.00 ................ 12.12 ................ ................ ................ 30 20 6.50 .............. 1.00 .............. .............. 6.50 .............. .............. .............. .............. 6.70 2.53 17.81 ................ 100.00 95.00 14.95 ................ ¥14.95 ................ 30 6.50 4 414.95 2.39 ¥0.05 2.42 13.34 0.40 ¥0.82 3.68 1.20 0.81 9.40 4.32 7.69 9.69 2.96 ................ 4.12 ................ ¥0.57 ................ ¥4.17 ................ 3 5 4 6 18 5.00 .............. 5.00 .............. 0.57 .............. .............. 4.17 .............. .............. 3.49 ................ 5.68 ................ 4.28 3.00 2.19 7.40 3.47 27.42 98.00 95.00 90.00 90.00 90.00 82.05 86.05 90.00 90.00 90.00 78.22 80.73 78.43 3.32 ................ ¥0.90 ................ 2.29 11.05 ................ ................ 1.28 ................ ¥0.88 ................ ................ ................ 4.54 ................ 3.20 ................ 1.31 ................ 0.42 16.91 7.33 ................ 10.84 ................ 11.97 ................ ¥0.82 ................ ¥0.86 ................ ¥2.00 ................ ¥0.50 ................ ¥7.94 ................ ¥3.01 ................ ¥3.14 ................ ¥2.28 ................ 9.02 .............. 1.00 .............. .............. 8.75 .............. .............. .............. .............. 8.05 .............. 1.00 .............. .............. 20 .............. .............. 20 .............. .............. 29 .............. .............. 30 .............. .............. 36 7.82 .............. 17 17 17 9.44 .............. 9.44 .............. 9.44 .............. 1.00 .............. .............. .............. ................ 1.00 .............. .............. 2.00 .............. .............. 0.50 .............. .............. 1.00 0.50 .............. 1.88 2.00 1.00 0.25 .............. 0.25 .............. 0.25 .............. 5.98 2.59 4.21 0.65 1.65 0.58 79.80 ................ 12.36 15.35 20.70 33.23 25.38 27.60 1.07 15.42 ¥3.73 ¥5.96 ¥4.78 0.87 0.43 0.37 0.43 1.78 1.92 14.69 ¥4.15 ¥5.14 ¥1.58 ¥4.68 ¥2.25 ¥2.38 ¥4.00 ¥8.78 2.96 2.55 2.43 2.75 3.81 19 9 9 8 19 6.90 * 6.52 * 6.46 * 8.50 .............. 7.05 .............. 1.98 0.40 .............. 2.25 .............. .............. 2.38 .............. .............. 4.00 .............. .............. 1.00 1.05 .............. 11.61 11.65 10.05 4.48 14.50 3115.42 3122.94 3122.94 3108.69 3108.10 97.00 97.00 97.00 97.00 97.00 .............. .............. 439.26 450.00 95.00 3.41 3.41 ................ ................ ................ 20 8.25 1 .............. .............. .............. 13.59 74.06 80.00 13 Table 4.—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) 30 10 Borrower rate Grace period (years) Loan Characteristics Upfront fees Annual fees Other fees Default rate 1 6.70 14.25 Recovery rate 2 2.53 80.00 Percent guaranteed 100.00 100.00 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 .................................................. 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 Loans .................................................... Indian Insured Loans ........................................................... 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 Guarantees ............................................................................... Maritime Administration: Maritime Guaranteed Loan Program: Weighted Average ........................................................... 2.42 2.25 3.42 ................ ¥1.00 ................ 6.50 .............. 1.00 .............. .............. 2.25 ................ ................ ................ 5.30 .............. .............. .............. .............. ¥0.83 5.67 ¥3.20 ¥2.75 2.99 15.43 ¥1.25 ¥1.42 ¥0.68 ¥1.58 ¥2.66 ¥1.82 ¥0.88 1.89 ¥1.90 0.52 0.13 ¥0.51 ¥0.21 4.46 12.58 1.46 1.98 10.12 20.46 2.09 0.86 5.41 3.73 2.33 4.22 2.68 5.63 2.00 3.53 5.78 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ¥5.29 ¥6.91 ¥4.66 ¥4.73 ¥7.12 ¥5.03 ¥3.34 ¥2.28 ¥6.10 ¥5.31 ¥4.99 ¥6.04 ¥3.56 ¥3.74 ¥3.89 ¥3.00 ¥5.65 ¥3.72 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 0.81 40 40 40 35 30 35 38 30 40 35 25 40 30 30 30 20 20 30 30 7.01 5.33 4.60 6.73 4.93 6.31 5.72 5.00 7.07 6.02 5.36 5.44 6.79 7.73 4.57 13.00 13.00 .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. 1.50 1.50 2.00 .............. .............. 1.38 0.45 0.80 0.45 0.45 0.80 0.80 0.50 0.50 0.57 0.50 0.50 0.50 0.50 0.50 0.50 1.00 1.00 0.45 0.80 0.45 0.45 0.80 .............. 0.50 .............. 0.57 .............. 0.50 0.50 .............. .............. .............. .............. .............. 18.38 72.32 43.45 67.26 9.81 74.94 8.39 70.64 13.80 ................ 25.54 ................ 11.16 82.57 1.39 ................ 13.88 51.72 12.66 60.38 6.38 63.38 16.89 71.34 9.13 63.92 13.68 48.45 24.79 117.54 4.97 15.00 8.59 15.00 10.02 72.34 99.77 100.00 100.00 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 2.39 ................ ................ ................ 6.86 .............. 0.50 .............. 0.06 ¥0.21 ................ 9.00 .............. .............. 0.02 .............. 6.56 4.14 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 2.03 10.00 2.03 ................ ................ ................ 10.00 ................ ................ ................ 2 37 9.94 .............. .............. .............. .............. 5.21 5 .............. .............. .............. 2.24 ................ 73.66 63.46 75.00 100.00 ................ 3.81 ................ ¥3.81 ................ 25 5.14 6 3.81 .............. .............. 30.52 95.00 80.00 4.35 9.24 ................ ¥4.88 ................ 25 6.50 .............. 4.88 .............. .............. 19.18 38.00 100.00 14 Table 4.—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 Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................. Guaranteed Loan Sale Securities ....................................... International Assistance Programs Agency for International Development: Development Credit Authority (DCA): Loan Guarantees ............................................................. Line of Credit ................................................................... Overseas Private Investment Corporation: OPIC Loan Guarantees ....................................................... OPIC Investment Funds ...................................................... Small Business Administration General Business Loan Programs: 7(a) General Business Loan Guarantees ........................... 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 .............. 6.95 50.66 66.95 100.00 100.00 100.00 ¥0.37 2.14 1.26 ................ ¥1.62 ................ 2.90 ................ ................ ¥0.76 30 30 6.82 .............. 1.66 .............. 0.02 6.43 .............. .............. .............. .............. 6.97 75.71 4.25 ................ 25.00 100.00 4.88 24.40 2.74 ¥3.94 5.86 ................ 25.44 ................ 11.03 ................ 9.45 ................ ¥0.98 ................ ¥1.04 ................ ¥8.30 ................ ¥13.39 ................ 7 8 9 12 4.91 5 5.40 .............. 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 42.51 5.85 .............. 3.00 0.72 .............. 31.01 76.39 7.19 .............. .............. .............. .............. .............. ................ 1.41 ¥2.46 3.07 ................ ................ ................ ¥1.67 ................ ¥2.46 ................ 7 7 6.60 6.60 1 1 0.12 0.12 1.63 .............. 3.70 ................ 2.46 .............. .............. ................ 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 Recovery rate includes interest and penalties. 4 Assumptions reflect an illustrative example for informational purposes only. The assumptions will be determined at the time of execution, and will reflect the actual terms and conditions of the loan and guarantee contracts. 15 Table 5.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2009 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 Ownership ................................................................. Farm Operating .................................................................. Indian Tribe Land Acquisition ............................................ Boll Weevil Eradication ...................................................... Farm Storage Facility Loan Program .................................... Sugar Storage Facility Loan Program ................................... 5.72 11.79 6.29 ¥0.56 6.25 ¥1.08 8.81 13.05 6.23 0.17 7.20 0.64 ¥3.39 ¥1.26 0.06 ¥1.65 ¥0.82 ¥1.72 .................. 0.30 .................. ¥0.01 .................. ................ .................. 0.92 ¥0.14 ................ .................. ................ 37 4 40 7 7 15 5.25 5.07 5.00 4.95 4.75 5.00 .............. .............. .............. .............. .............. .............. ................ ................ ................ ................ 0.14 ................ .............. .............. .............. .............. .............. .............. ................ ................ ................ ................ ................ ................ 89.61 23.54 22.93 47.95 34.66 11.56 3.84 111.29 9.09 ................ 10.54 87.45 8.98 33.26 46.78 90.00 Rural Utilities Service: Water and Waste Disposal Loans ......................................... 3.77 1.79 2.13 .................. ¥0.16 38 4.68 1 ................ Broadband Treasury Loans .................................................... 3.90 3.65 .................. .................. 0.25 12 4.60 .............. ................ Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans ................................................ ¥2.38 0.99 ¥2.55 .................. ¥0.81 33 5.00 1 ................ FFB Electric Loans ........................................................ ¥2.28 0.70 ¥2.97 .................. ................ 28 5.00 1 ................ FFB Electric Loans (Legislative Proposal) .................... .................. .................. .................. .................. ................ ................ ................ .............. ................ Direct Electric Loans (Legislative Proposal) ................. ¥2.28 0.70 ¥2.97 .................. ................ 28 5.00 1 ................ Telephone: Telecommunication Hardship Loans ............................. ¥1.76 1.02 ¥2.86 .................. 0.07 19 5.00 1 ................ FFB Telecommunications Loans ................................... ¥0.94 0.80 ¥1.47 .................. 0.27 16 4.69 1 ................ FFB Telecommunications Loans (Legislative Proposal) .................. .................. .................. .................. ................ ................ ................ .............. ................ Direct Telecommunications Loans (Legislative Proposal) ......................................................................... ¥0.94 0.80 ¥1.47 .................. ¥0.27 16 4.69 .............. ................ Treasury Telecommunication Loans ............................. 0.21 0.23 0.04 .................. ¥0.06 17 4.61 1 ................ Rural Housing Service: Community Facility Loans ...................................................... Rural Housing Insurance Fund: Single-Family Housing Credit Sales .................................. Multi-Family Housing Credit Sales .................................... Section 504 Housing Repair .............................................. Section 523 Self-Help Housing ......................................... Section 524 Site Development .......................................... Rural Business Cooperative Service: Intermediary Relending Program ........................................... Department of Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans ......................................... Department of Defense Family Housing: Family Housing Improvement Fund Direct Loans ................. 43.50 18.25 25.25 .................. ................ 40 3.16 5.72 4.77 1.27 .................. ¥16.56 ¥18.59 27.69 1.65 ¥2.77 ¥0.32 30 20 50 19 2 2 30 4.67 6.59 6.09 1.00 3.00 6.09 1.00 .............. ................ .............. ................ .............. .............. .............. .............. ................ 10.20 83.03 ................ 5.47 83.03 ................ ................ ................ ................ 5.47 83.03 .............. ................ 7.06 83.01 .............. ................ 5.16 83.03 .............. ................ ................ ................ .............. ................ .............. ................ 5.16 1.74 11.44 83.03 83.03 21.45 1 ................ .............. ................ .............. .............. .............. .............. .............. ................ ................ ................ ................ ................ .............. .............. .............. .............. .............. ¥2.59 7.77 36.12 8.74 26.87 0.98 1.65 .................. ¥1.84 0.93 41.85 0.40 .................. 6.20 445.97 .................. 4¥1.80 .................. .................. ................ .................. ................ ¥0.64 ................ 46.22 64.66 ................ 29.10 22.49 ................ 7.15 56.86 ................ ................ ................ ................ 0.99 ................ 10.47 99.85 42.09 .................. 3 ................ .............. ................ ¥12.78 0.39 ¥20.11 ¥0.69 7.63 21 6.92 .............. 0.50 .............. ................ 3.94 81.47 5 ................ .............. ................ 76.72 31.37 17 Table 5.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2009 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 .................................................................................. Consolidated ....................................................................... Consolidated (Legislative Proposal) .................................. Loans for Short-Term Training (Legislative Proposal) .......... TEACH Grants ........................................................................ Office of Postsecondary Education: Historically Black College and University Capital Financing Program (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 ........................................................................ 3.04 ¥3.29 9.96 0.28 ¥7.66 .................. ¥21.53 ¥1.91 0.74 19.87 30 30 5.65 .............. ................ .............. ................ 6.81 .............. 1.95 .............. ................ 78.89 0.65 40.70 6¥4.27 1.44 1.13 10.92 10.80 ¥9.82 ¥9.97 ¥11.75 11.03 9.99 ¥0.27 13.05 2.00 2.06 0.73 0.73 0.88 0.89 0.59 6.46 6.78 0.48 0.50 ¥6.70 ¥6.86 4.86 4.84 ¥18.46 ¥18.48 ¥18.48 ¥0.65 ¥1.34 ¥3.85 6.22 ¥1.80 ¥1.78 ¥1.88 ¥1.88 ¥1.88 ¥1.88 ¥4.00 .................. .................. .................. .................. 7.90 7.71 7.21 7.11 9.63 9.50 10.15 5.21 4.53 3.09 6.33 11 11 10 10 10 10 10 16 16 1 9 6.58 6.58 6.03 6.03 6.46 6.46 7.90 6.71 6.71 6.46 6.80 * * * * * * .............. .............. .............. .............. .............. 1.80 .............. ................ 1.78 1.88 1.88 1.88 1.88 4.00 ................ ................ ................ ................ .............. .............. .............. .............. .............. .............. .............. .............. .............. .............. ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 14.04 14.04 11.85 11.85 10.71 10.71 5.53 26.88 26.88 12.88 8.39 5105.29 5105.29 5114.60 5114.60 5114.60 5114.60 5114.17 593.46 593.46 5114.60 5114.60 16.31 20.62 .................. ¥4.31 ................ ................ ................ .............. ................ .............. ................ 42.07 ................ 1.04 .................. 93.95 .................. 0.69 .................. 5.04 .................. 0.35 88.90 7 5 4.27 .............. ................ .............. ................ ................ ................ 4.75 .............. ................ .............. ................ ................ ................ 59.77 59.36 0.41 .................. ................ * 1.20 * ................ .............. ................ 94.19 39.81 10.00 10.00 .................. .................. ................ 10.00 .................. .................. .................. 10.00 38 35 5.02 5.02 5 ................ .............. ................ 15 ................ .............. ................ 71.59 91.04 63.55 62.63 .................. 3.10 ¥1.28 ¥1.81 ................ 25 4.95 .............. ................ .............. 1.81 50.77 62.74 37.88 17.12 20.76 .................. ................ 11 1.81 1 ................ .............. ................ 29.95 15.00 18 Table 5.—DIRECT LOANS: ASSUMPTIONS UNDERLYING THE 2009 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 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 ¥10.07 .................. 1.93 0.29 99.18 99.04 ¥17.92 ¥0.73 1.88 .................. 0.13 .................. 8.58 ¥0.23 0.01 30 6.81 .............. 1.15 .............. ................ ................ ................ 1 ................ .............. ................ .............. ................ 0.30 ................ 40 5.27 .............. ................ .............. ................ 232.33 ................ 2.34 13.71 ¥1.59 ¥9.77 ................ 13 6.37 3 ................ 1.50 ................ 33.97 50.00 General Business Loan Programs: 7(m) Direct Microloans (Legislative Proposal) ....................... .................. Disaster Loan Program: Disaster Assistance ................................................................ Other Independent Agencies Export-Import Bank of the United States: Direct Loans: Tied Aid War Chest ........................................ 33.01 14.92 0.37 9.05 ¥4.34 .................. 12.43 .................. 3.97 ¥6.57 10 23 5.92 3.77 1 ................ .............. ................ 1 ................ .............. ................ 0.65 21.54 10.16 16.70 3.98 31.79 ¥2.75 ................ 24 1.30 3 ................ 2.83 ................ 5.94 ................ * 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 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 Recovery rate includes interest and penalties. 6 Recovery rate includes property expenses. 19 Table 6.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2009 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 ........................................................................... Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ....................................... Farm Operating—Subsidized ........................................... Farm Ownership—Unsubsidized ..................................... Rural Utilities Service: Water and Waste Disposal Loans ....................................... Rural Housing Service: Community Facility Loan Guarantees ................................. Rural Housing Insurance Fund: Guaranteed 502 Single Family Housing, Purchase ....... Guaranteed 502, Purchase (Legislative Proposal) ......... Guaranteed 502, Refinance ............................................ Guaranteed 538 Multi-Family Housing ........................... Guaranteed 538 (Legislative Proposal) .......................... Rural Business Cooperative Services: Business and Industry Loan Guarantees ............................ Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments ...................... Subsidized Stafford .......................................................... Unsubsidized Stafford ...................................................... PLUS ................................................................................ Consolidated .................................................................... Loans for Short-Term Training (Legislative Proposal) ........ 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 ....................... 2.52 12.34 2.52 3.51 ................ ¥0.98 ................ 12.34 ................ ................ ................ 3.51 ................ ¥0.98 ................ 30 20 30 6.50 .............. 1.00 .............. .............. 7.00 .............. .............. .............. .............. 6.50 .............. 1.00 .............. .............. 6.71 2.53 17.81 .............. 6.71 2.53 100.00 95.00 100.00 19.35 ................ ¥19.35 ................ 30 7.15 4 419.35 0.87 4.04 2.49 13.79 0.33 ¥0.82 3.08 1.27 0.27 0.98 15.68 0.57 4.35 1.47 ................ 4.50 ................ ¥0.60 ................ ¥0.46 ................ 3 5 4 6 18 5.00 .............. 5.00 .............. 0.60 .............. .............. 0.46 .............. .............. 1.60 .............. 5.71 .............. 4.42 3.28 2.23 7.60 3.66 27.78 98.00 95.00 90.00 90.00 90.00 82.14 86.53 90.00 90.00 90.00 90.00 90.00 78.15 3.49 ................ ¥1.00 ................ 2.57 11.22 ................ ................ 1.33 ................ ¥1.00 ................ ................ ................ 3.95 ................ 3.27 3.27 1.48 0.57 0.57 ¥0.82 ................ ¥0.87 ................ ................ ................ ................ ................ ................ 8.86 .............. 1.00 .............. .............. 8.86 .............. .............. .............. .............. 7.80 .............. 1.00 .............. .............. 20 .............. .............. 21 .............. .............. 29 29 29 36 36 17 .............. .............. .............. 7.81 .............. 1.00 .............. .............. .............. .............. 1.00 .............. .............. .............. .............. .............. 0.50 .............. .............. .............. .............. .............. .............. 5.45 4.19 4.19 1.81 3.23 3.23 12.80 9.15 0.75 0.75 0.54 79.64 79.64 32.10 ................ ¥2.00 ................ ¥3.00 ................ ¥0.50 22.33 ¥7.22 ................ ................ .............. 2.00 .............. 3.00 .............. 0.50 .............. 1.00 .............. .............. 1.88 7.80 ................ ¥3.44 ................ 8.75 .............. 0.25 .............. 2.21 16.67 ¥3.07 ¥5.94 ¥2.27 1.02 0.89 0.43 0.37 0.40 1.78 0.01 2.81 ¥4.48 15.44 ¥1.75 ¥3.99 ¥1.88 ¥5.23 ¥3.70 0.84 ¥8.72 ¥0.41 ................ 2.98 2.55 2.42 2.59 3.83 1.42 19 9 9 8 19 1 6.69 * 1.71 6.10 * 1.75 6.46 * 1.88 8.50 .............. 3.70 6.76 .............. 1.00 6.46 .............. .............. 0.42 .............. .............. .............. 1.05 .............. .............. .............. .............. .............. .............. .............. 11.62 11.60 10.01 4.47 14.45 10.60 3115.42 3122.94 3122.94 3108.69 3108.1 3122.94 97.00 97.00 97.00 97.00 97.00 97.00 .............. .............. 450.85 450.00 95.00 21 Table 6.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2009 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 .................................................. ¥1.10 Section 221(d)(3) Cooperatives ...................................... 5.84 Tax Credit New Construction .......................................... ¥3.20 Apartment Refinance ....................................................... ¥3.29 Section 241 Supplemental Loans ................................... 1.97 Multifamily Operating Loss Loans ................................... 22.18 Housing Finance Authority Risk Sharing ........................ ¥1.17 GSE Risk Sharing ........................................................... ¥1.43 Health Care and Nursing Homes .................................... ¥0.74 Health Care Refinance .................................................... ¥2.09 Hospitals ........................................................................... ¥2.51 Other Rental .................................................................... ¥2.14 Section 234 Condominiums ............................................ ¥0.12 Section 234 Condominiums (Legislative Proposal) ........ .................. Section 203(k) Rehabilitation Mortgage .......................... 2.29 Section 203(k) Rehabilitation Mortgage (Legislative Proposal) ...................................................................... .................. Home Equity Conversion Mortgages .............................. ¥1.37 Home Equity Conversion Mortgages (Legislative Proposal) ........................................................................... .................. Title I Property Improvement ........................................... ¥0.52 Title I Manufactured Housing .......................................... ¥0.14 FHA Mutual Mortgage Insurance Fund: Mutual Mortgage Insurance Program ............................. ¥0.01 Mutual Mortgage Insurance Program (Legislative Pro5¥0.17 posal) ........................................................................... Mutual Mortgage Insurance Program—HECM (Legislative Proposal) ............................................................... ¥1.37 Mutual Mortgage Insurance Program—Seller Financed Down Payment Assistance ......................................... 6.35 Government National Mortgage Association: Guarantees of Mortgage-Backed Securities ....................... Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loans .................................................... Department of Transportation Office of the Secretary: Minority Business Resource Center .................................... Federal Highway Administration: TIFIA Loan Guarantees ....................................................... 1.86 10.00 7.73 ¥0.21 4.14 12.65 1.29 1.47 9.10 27.03 1.80 0.66 5.45 3.39 2.63 3.91 3.42 ................ 5.89 ................ ¥5.24 ................ 40 7.01 .............. ................ ¥6.81 ................ 40 5.33 .............. ................ ¥4.50 ................ 40 4.60 .............. ................ ¥4.76 ................ 35 6.73 .............. ................ ¥7.13 ................ 30 4.93 .............. ................ ¥4.85 ................ 35 6.31 .............. ................ ¥2.97 ................ 38 5.72 .............. ................ ¥2.09 ................ 30 5.00 .............. ................ ¥6.19 ................ 40 7.07 .............. ................ ¥5.48 ................ 35 6.02 .............. ................ ¥5.14 ................ 25 5.36 .............. ................ ¥6.05 ................ 40 5.44 .............. ................ ¥3.54 ................ 30 6.79 .............. ................ ................ ................ .............. .............. .............. ................ ¥3.60 ................ 30 7.73 .............. .............. 0.45 0.45 16.60 .............. 0.80 0.80 41.92 .............. 0.45 0.45 8.57 .............. 0.45 0.45 5.88 .............. 0.80 0.80 11.49 .............. 0.80 .............. 32.68 .............. 0.50 0.50 9.38 .............. 0.50 .............. 1.00 .............. 0.57 0.57 14.05 .............. 0.50 .............. 11.04 .............. 0.50 0.50 9.20 .............. 0.50 0.50 15.29 1.50 0.50 .............. 10.05 .............. .............. .............. .............. 1.50 0.50 .............. 13.76 72.72 100.00 66.70 100.00 75.24 85.00 70.63 80.00 .............. 100.00 .............. 100.00 82.84 90.00 .............. 50.00 52.82 100.00 60.19 80.00 76.86 100.00 71.79 100.00 59.16 100.00 .............. ................ 48.02 100.00 ................ ................ ................ ................ .............. .............. .............. .............. .............. .............. .............. .............. ................ 3.45 ................ ¥4.82 ................ 30 4.57 .............. 2.00 0.50 .............. 38.08 116.97 100.00 ................ ................ ................ ................ .............. .............. .............. .............. .............. .............. .............. .............. ................ 2.54 ................ ¥3.06 ................ 20 13.00 .............. .............. 1.00 .............. 4.44 33.55 90.00 5.63 ................ ¥5.77 ................ 20 13.00 .............. .............. 1.00 .............. 8.74 19.44 90.00 2.99 ................ 2.78 ................ 3.45 ................ 7.86 ................ ................ ................ ¥4.05 ¥3.94 1.05 0.98 30 30 30 30 30 6.86 .............. 6.86 .............. 6.07 .............. 6.86 .............. 1.77 1.63 2.00 2.24 0.51 .............. 0.53 .............. 0.50 .............. 0.55 .............. 0.06 11.69 10.92 38.07 30.38 69.70 69.76 116.97 69.70 99.81 100.00 100.00 100.00 100.00 100.00 ¥4.82 ................ ¥4.26 2.74 ¥0.21 ................ 9.00 .............. .............. 0.02 .............. 4.53 5.00 ¥1.80 ................ 16 9.00 .............. 2.00 .............. .............. 7.88 7.28 90.00 1.86 ................ ................ ................ 10.00 ................ ................ ................ 2 37 9.25 .............. .............. .............. .............. 5.02 5 .............. .............. .............. 2.02 .............. 71.59 63.55 75.00 100.00 22 Table 6.—LOAN GUARANTEES: ASSUMPTIONS UNDERLYING THE 2009 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 Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Guarantees ............................................................................... Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................. International Assistance Programs Agency for International Development: Development Credit Authority (DCA): Loan Guarantees ............................................................. Line of Credit ................................................................... Overseas Private Investment Corporation: OPIC Loan Guarantees ....................................................... OPIC Investment Funds ...................................................... Small Business Administration General Business Loan Programs: 7(a) General Business Loan Guarantees ........................... Section 504 Certified Development Companies Debentures ................................................................................. SBIC Debentures ................................................................. Secondary Market Guarantee .............................................. Secondary Market Guarantee (Legislative Proposal) ......... 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 .............................................................. .................. 2.31 ................ ¥2.31 ................ 25 4.95 6 2.31 .............. .............. 25.77 98.90 80.00 ¥0.66 1.08 ................ ¥1.74 ................ 30 6.81 .............. 1.72 .............. 0.02 6.07 77.00 25.00 3.21 1.31 2.27 ¥3.18 4.39 ................ 2.01 ................ 8.86 ................ 10.57 ................ ¥1.18 ................ ¥0.70 ................ ¥6.59 ................ ¥13.75 ................ 7 1 11 12 4.91 5 5.40 .............. 6.08 7.48 0.64 0.75 1.26 .............. 1.75 .............. 1.25 .............. 1.50 .............. 12.32 .............. 2.05 .............. 20.70 50.00 17.83 .............. 50.00 50.00 100.00 100.00 2 .............. 11 0.50 .................. ¥0.07 .................. .................. .................. 3.42 ................ 1.79 5.38 ................ ................ ¥3.42 ................ 13 20 10 20 20 10.01 .............. 5.85 5.59 6.52 6.52 2.01 0.55 .............. 6.24 43.50 69.36 100.00 100.00 100.00 100.00 ................ ¥2.20 0.35 ................ ¥5.41 0.03 ................ ................ ................ ................ ¥0.08 0.07 .............. 0.87 0.19 .............. 3.50 43.14 .............. 3.00 0.41 .............. 32.92 87.66 .............. .............. .............. .............. .............. .............. .............. .............. 0.02 .............. .............. .............. 0.60 ¥3.71 2.12 ................ ................ ................ ¥1.52 ................ ¥3.71 ................ 7 7 5.96 5.96 1 1 0.12 0.12 1.39 .............. 2.43 .............. 3.71 .............. .............. .............. 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 Recovery rate includes interest and penalties. 4 Assumptions reflect an illustrative example for informational purposes only. The assumptions will be determined at the time of execution, and will reflect the actual terms and conditions of the loan and guarantee contracts. 5 Legislative proposal includes moving the Section 234 Condominiums and Section 203(k) Rehabilitation Mortgages from the General and Special Risk Insurance Fund to the Mutual Mortgage Insurance Fund. 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 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 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ FY 2007 ................................................................................................ 29.76 21.67 15.02 18.06 13.02 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 4.19 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 11.69 10.78 8.17 14.54 17.30 6.91 19.85 11.90 13.07 13.47 12.54 11.74 9.37 8.98 8.44 ¥0.16 ¥3.47 ¥6.22 ¥7.47 ¥5.80 ¥4.74 ¥3.32 8.25 7.64 11.82 16.21 12.23 12.74 12.06 10.45 12.71 8.65 7.80 4.26 3.11 6.28 14.19 11.45 ¥27.36 ¥4.34 1.73 5.37 2.13 ¥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 ¥0.91 ¥2.47 ¥15.12 ¥2.02 1.84 0.39 ¥5.67 0.99 12.40 11.61 3.65 ¥1.04 ¥3.81 ¥2.94 ¥1.10 ¥0.18 0.88 0.44 8.38 ¥9.16 ¥2.21 ¥6.13 ¥8.24 ¥0.52 ¥2.98 ¥4.69 ¥10.01 ¥7.66 ¥11.43 ¥11.76 ¥11.72 ¥5.53 ¥4.13 ¥4.19 ¥9.79 ¥28.98 ¥6.75 ¥8.95 ¥5.04 7.66 ¥3.09 ¥2.38 3.19 4.92 ¥0.84 ¥6.91 ¥7.99 3.20 0.67 2.68 ¥10.05 ¥10.21 ¥3.63 3.36 0.20 3,114 5,910 7,848 1,444 1,220 ¥3,085 ¥12,796 ¥8,007 ¥4,461 ¥4,671 ¥2,583 ¥1,965 ¥5,573 1,743 ¥1,873 ¥335 ¥2,881 ¥6,743 ¥9,717 ¥20,328 ¥13,175 11,672 ¥12,436 7,979 ¥6,616 ¥6,765 ¥3,658 ¥4,372 ¥14,971 ¥5,103 ¥14,632 ¥19,723 ¥24,685 ¥26,293 ¥37,333 25,937 ¥1,268 ¥1,451 ¥3,676 7,018 1,151 ¥359 ¥5,286 ¥11,362 ¥9,055 ¥8,701 ¥9,164 ¥11,005 ¥5,104 ¥16,984 10,646 ¥21,168 ¥11,476 ¥30,210 ¥45,062 ¥31,809 ¥28,123 ¥13,175 ¥54,040 ¥59,296 ¥13,732 11,697 ¥11,866 ¥5,502 26,363 5,415 39,166 ¥12,578 ¥13,819 ¥93,767 ¥74,301 ¥25,593 25,937 ¥1,268 ¥6,122 ¥8,664 ¥2,514 ¥295 ¥690 ¥1,699 ¥2,980 ¥1,020 ¥5,275 ¥5,561 ¥7,355 ¥2,994 ¥9,627 10,748 ¥17,263 ¥10,629 ¥28,584 ¥40,386 ¥28,573 ¥25,529 ¥12,564 ¥38,586 ¥36,460 ¥6,338 13,458 ¥1,322 2,752 31,099 29,956 46,783 ¥1,383 ¥6,842 ¥87,759 ¥67,113 ¥20,478 25,675 ¥1,210 27,821 53,730 66,315 13,399 10,048 65,611 66,128 80,218 55,033 86,955 78,529 80,585 160,245 225,954 160,440 173,368 164,246 140,044 263,961 268,713 171,428 561,497 538,014 643,367 433,220 560,669 510,320 553,109 780,474 662,049 685,221 662,483 685,178 605,320 551,444 622,818 505,439 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) Total disbursements to date ($ thousands) Original Subsidy Rate Indian Tribe 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 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Boll Weevil Eradication FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ 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 31.90 29.34 30.41 24.03 23.60 15.53 24.53 13.45 20.39 13.83 12.94 10.94 11.77 1.24 1.18 1.44 ¥4.38 ¥0.78 ¥2.18 ¥2.70 ¥6.07 ¥5.68 ¥18.09 1.90 29.82 20.53 20.72 ¥5.46 16.47 17.53 7.27 10.13 ¥26.87 ¥5.43 ¥13.55 ¥4.83 ¥13.07 15.69 17.27 16.17 19.55 16.13 18.02 11.24 15.79 12.80 3.59 1.53 ¥17.72 ¥11.35 ¥11.93 1.45 2.37 ¥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 ¥0.59 ¥1.24 ¥0.07 10.61 11.83 5.08 ¥3.80 ¥4.52 ¥9.42 ¥1.02 ¥1.88 0.30 ¥1.69 5.82 1.40 7.13 ¥32.63 ¥6.44 ¥5.38 ¥4.46 ¥6.02 ¥39.86 ¥11.41 ¥12.13 ¥3.23 ¥12.74 ¥16.16 ¥9.87 ¥17.35 ¥11.76 ¥11.97 ¥12.32 ¥23.40 ¥19.64 ¥7.81 ¥17.14 ¥7.40 ¥28.69 ¥24.16 ¥22.99 ¥9.79 ¥7.71 107 136 7 ¥433 ¥63 ¥22 ¥38 ¥52 ¥55 5 ¥7 ¥54 ¥43 ¥18,721 ¥14,123 ¥12,135 ¥8,846 ¥21,686 ¥15,759 ¥11,495 ¥29,097 ¥8,514 ¥7,783 ¥4,515 ¥7,484 ¥2,865 ¥2,402 ¥6,158 ¥6,499 97 38 18 ¥427 ¥103 ¥34 ¥59 33 ¥294 ¥4 ¥28 ¥74 ¥65 ¥20,072 ¥16,728 ¥28,248 ¥15,256 ¥39,735 ¥29,979 ¥19,557 ¥32,889 ¥7,460 ¥22,594 ¥8,698 ¥38,961 ¥8,360 ¥6,194 ¥5,379 ¥6,499 33 * 49 ¥148 ¥40 ¥14 ¥26 70 ¥247 ¥8 ¥24 ¥62 ¥60 ¥4,004 ¥4,460 ¥16,727 ¥7,949 ¥22,492 ¥17,647 ¥12,022 ¥23,429 ¥3,759 ¥18,446 ¥6,750 ¥35,608 ¥7,336 ¥5,610 ¥4,709 ¥6,198 988 859 649 550 641 224 500 822 590 74 110 1,586 360 73,854 57,939 144,191 66,875 172,884 142,781 95,639 308,461 149,299 89,270 57,800 94,815 29,743 23,050 51,024 67,522 0.95 0.13 ¥0.42 ¥159 ¥556 ¥196 37,277 ¥1.31 22.91 ¥25.40 ¥790 ¥32 ¥1,224 40,000 ¥0.68 ¥1.37 ¥0.75 ¥1,509 ¥5,739 ¥2,023 100,000 ¥1.49 3.49 ¥0.60 1,476 9,430 2,487 100,000 ¥2.50 ¥3.69 1.97 2,693 3,483 ¥1,475 94,628 ¥4.03 ¥6.46 4.61 5,889 2,824 ¥1,499 94,495 ¥5.36 ¥6.72 4.06 2,281 ¥15 ¥2,862 99,000 ¥12.28 ¥1.53 ¥4.68 ¥12,252 ¥6,970 ¥6,059 97,695 ¥1.00 0.37 4.31 3,158 3,913 3,560 78,395 3.32 2.21 19.20 2,004 4,543 4,534 22,000 (4) .......................... .......................... .......................... .......................... .......................... .......................... 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 Soil and Water FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ Seed Loans to Producers FY 2001 ................................................................................................ Farm Storage Facility Loans FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Apple Loans FY 2001 ................................................................................................ Emergency Boll Weevil Loans FY 2001 ................................................................................................ Rural Utilities Service: Water and Waste Disposal 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 ................................................................................................ FY 2007 ................................................................................................ Distance Learning, Telemedicine, and Broadband Program: Distance Learning and Telemedicine Loans FY 1998 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ 8.11 16.32 14.06 10.96 2.85 2.14 2.42 1.28 1.22 ¥1.43 ¥0.62 0.38 5.01 60.00 9.10 11.16 9.86 13.26 3.66 7.23 5.99 10.52 11.54 14.74 11.42 12.59 ¥3.27 98.50 ¥2.68 ¥9.30 3.72 ¥1.66 0.25 0.30 ¥6.04 ¥6.37 ¥1.92 0.25 1.15 ¥0.27 0.44 (5) 3.67 4.14 ¥7.92 3.96 0.56 4.79 9.61 15.61 12.24 15.92 10.89 12.48 ¥8.72 38.50 226 41 ¥352 ¥727 2,804 10,905 6,073 7,523 5,791 10,288 12,087 4,405 750 62 496 216 29 21 ¥633 7,642 3,813 6,315 6,351 10,616 12,087 4,405 ¥117 4,666 111 ¥12 ¥160 698 240 3,697 1,586 5,183 5,714 10,026 11,401 4,206 ¥941 3,779 2,257 2,052 3,141 27,318 58,312 78,272 48,592 58,607 57,283 64,987 99,450 35,260 11,423 10,000 14.10 12.69 16.18 15.28 22.50 9.02 9.76 16.52 7.10 13.59 6.88 11.34 3.33 9.00 6.91 9.96 0.02 0.35 ¥0.61 ¥0.07 13.94 16.92 15.61 14.11 14.54 12.15 12.61 11.67 10.47 6.18 5.53 7.28 5.62 8.63 7.19 16.58 ¥0.85 68.11 0.82 ¥5.86 4.93 9.17 4.69 2.90 ¥5.06 6.42 4.99 ¥1.79 6.01 ¥6.64 ¥1.65 ¥5.33 1.03 ¥1.97 ¥0.37 4.40 1.92 ¥0.81 3.22 ¥8.10 ¥5.09 ¥4.94 ¥5.26 ¥4.07 ¥2.90 ¥3.29 ¥2.14 ¥3.06 ¥2.64 ¥0.77 0.30 1.27 1.26 1.60 0.65 2.22 ¥2.79 68.57 ¥1.79 2.31 531 ¥2,043 ¥4,820 ¥3,644 ¥483 ¥2,394 ¥3,969 ¥3,568 ¥3,670 ¥3,689 4,102 ¥9,423 11,242 ¥1,611 245 2,210 279 ¥405 ¥4,377 ¥48 ¥18,037 11,364 ¥13,958 ¥22,439 ¥51,751 23,141 21,230 ¥35,559 ¥8,775 ¥50,413 ¥14,580 ¥30,231 14,776 ¥2,813 173 2,210 ¥79 3,867 2,428 351 ¥5,224 19,402 ¥7,673 ¥13,826 ¥45,747 20,849 17,250 ¥33,210 ¥646 ¥50,861 ¥14,870 ¥27,290 12,663 ¥2,698 140 2,097 ¥49 2,984 1,529 ¥67 550,277 596,024 649,449 773,220 557,635 772,833 731,192 670,687 697,975 682,194 963,794 579,263 597,953 383,879 199,563 33,892 3,122 4,476 73,546 855 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 ¥0.31 ¥2.19 2.09 0.31 ¥2.93 ¥2.69 ¥1.63 ¥1.11 ¥0.69 ¥0.60 ¥3.28 ¥0.39 Percentage point change due to technical assumptions 17.62 6.29 ¥2.21 12.48 2.58 19.59 ¥0.32 1.36 1.61 2.17 ¥1.46 0.36 Current reestimate amount 2 ($ thousands) 2,211 766 ¥14 504 ¥13 3,477 ¥588 344 302 718 ¥291 ¥1 Net lifetime reestimate amount 3 ($ thousands) 3,249 1,031 5 504 ¥13 11,489 ¥881 ¥169 231 721 ¥291 3 Net lifetime reestimate amount, excluding interest ($ thousands) 2,662 945 2 459 ¥12 9,343 ¥865 47 207 647 ¥279 ¥* Total disbursements to date ($ thousands) 17,082 23,865 1,703 4,058 3,354 52,619 44,049 99,839 29,954 45,688 5,948 1,650 Original Subsidy Rate FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ FY 2007 ............................................................................................ Broadband Treasury Loans FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ FY 2007 ............................................................................................ Broadband 4% Loans FY 2004 ............................................................................................ 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 ............................................................................................ FY 2007 ............................................................................................ Municipal Electric Loans FY 1994 ............................................................................................ FY 1995 ............................................................................................ FY 1996 ............................................................................................ FY 1997 ............................................................................................ FY 1998 ............................................................................................ FY 1999 ............................................................................................ FY 2000 ............................................................................................ FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ ¥1.15 .......................... 1.42 1.50 0.63 ¥0.07 2.22 2.18 2.13 2.15 2.15 4.94 16.16 4.10 1.30 14.29 0.28 16.83 0.27 2.43 3.05 3.72 ¥2.59 4.91 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 2.14 11.26 8.58 10.44 6.20 4.22 8.76 3.67 6.95 ¥0.09 4.03 16.30 15.99 17.04 12.64 12.46 8.51 8.08 7.90 6.76 ¥0.94 ¥4.11 ¥3.42 ¥4.41 ¥1.16 ¥3.49 0.72 13.62 11.02 14.82 14.49 13.03 12.86 20.20 20.53 6.37 11.58 2.46 7.20 3.21 5.91 ¥9.73 8.56 3.95 ¥2.07 7.19 ¥8.17 ¥6.19 ¥9.10 ¥1.83 ¥4.59 ¥1.78 ¥0.15 9.73 9.42 6.35 14.10 12.59 8.81 13.35 10.11 7.00 3.76 ¥4.98 ¥4.05 ¥3.28 ¥6.36 ¥1.18 ¥5.32 ¥3.33 ¥3.07 ¥1.33 ¥2.73 ¥0.90 ¥0.03 ¥0.25 0.39 ¥2.63 ¥1.27 ¥7.37 ¥6.98 ¥1.97 ¥5.81 ¥3.78 ¥4.71 3.18 3.47 ¥0.54 3.79 2,725 3,816 385 174 309 151 279 37 ¥20 709 ¥4,214 ¥4,875 ¥3,169 ¥2,371 ¥2,458 ¥208 ¥7,541 ¥6,761 ¥6,967 ¥7,778 ¥4,399 ¥1,338 ¥7,042 ¥2,531 ¥3,880 639 ¥42,739 ¥3,623 ¥947 ¥3,063 ¥10,990 2,452 955 ¥3,711 6,761 ¥10,801 ¥8,591 ¥10,554 ¥4,554 ¥3,351 ¥2,685 ¥208 8,125 7,599 25,089 40,474 47,386 13,287 53,424 48,096 36,351 12,521 ¥22,952 12,660 ¥1,235 ¥1,196 ¥9,890 1,887 354 ¥3,658 6,208 ¥11,524 ¥7,758 ¥9,158 ¥3,745 ¥3,029 ¥2,450 ¥197 6,639 8,686 20,335 35,083 39,877 10,745 45,310 36,345 31,152 6,685 564,555 834,525 102,780 73,973 86,299 64,708 124,414 70,270 117,796 109,067 123,792 109,541 200,260 68,711 56,688 13,686 374,439 472,329 512,985 439,744 487,787 294,990 294,870 293,670 499,352 89,111 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 6.81 1.53 ¥1.39 ¥0.51 Percentage point change due to technical assumptions 1.21 3.49 1.49 2.56 Current reestimate amount 2 ($ thousands) 14,368 2,041 597 67 Net lifetime reestimate amount 3 ($ thousands) 46,401 3,149 630 67 Net lifetime reestimate amount, excluding interest ($ thousands) 40,780 2,770 569 64 Total disbursements to date ($ thousands) 472,218 51,183 40,090 3,275 Original Subsidy Rate FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ FY 2007 ............................................................................................ 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 ............................................................................................ FY 2007 ............................................................................................ Treasury Electric Loans FY 2001 ............................................................................................ FY 2002 ............................................................................................ FY 2003 ............................................................................................ FY 2004 ............................................................................................ FY 2005 ............................................................................................ FY 2006 ............................................................................................ FY 2007 ............................................................................................ Telephone: Telecommunication 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 ............................................................................................ ¥2.42 1.35 5.05 1.51 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 ¥1.19 .......................... ¥0.04 ¥0.04 ¥0.06 ¥0.05 0.01 .......................... 16.84 11.66 16.04 7.91 19.59 1.59 3.92 9.79 1.12 10.36 2.32 1.71 ¥4.44 5.60 6.37 5.15 3.56 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) .......................... .......................... (4) .......................... .......................... ¥2.18 ¥0.57 ¥1.65 ¥0.83 ¥0.51 ¥1.19 ¥0.47 0.51 ¥0.03 ¥2.58 ¥0.98 ¥2.22 ¥1.28 ¥0.27 ¥2.69 ¥0.50 0.97 0.21 1.76 0.08 ¥0.20 .......................... 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 ¥5,694 254,799 .......................... 51,395 46,107 1,030,133 .......................... 41,538 36,591 1,628,863 .......................... 58,278 52,885 1,619,572 .......................... 13,851 14,432 2,618,823 .......................... 10,629 10,084 2,299,934 .......................... 4,219 4,022 1,399,966 .......................... 150 143 1,308,195 .......................... .......................... .......................... 412,537 .......................... .......................... .......................... .......................... ¥607 ¥1,725 ¥8,353 ¥3,225 ¥2,625 ¥5,218 ¥356 ¥7,330 ¥1,567 ¥19,115 ¥8,416 ¥2,177 ¥5,517 ¥356 ¥10,074 ¥3,257 ¥14,657 ¥7,330 ¥2,131 ¥5,017 ¥338 500,000 747,110 1,001,786 835,230 534,447 434,859 74,136 174,874 225,669 55,174 41,691 60,324 56,293 58,751 51,559 48,818 30,903 26,537 33,248 46,413 8.21 5.81 4.62 3.81 3.58 1.72 ¥0.26 ¥0.28 ¥2.80 2.32 ¥2.16 ¥2.94 ¥5.68 3.55 6.45 ¥0.72 5.59 ¥8.49 7.54 3.28 ¥4.82 2.82 ¥8.25 ¥5.26 ¥3.81 0.01 ¥12.18 ¥12.30 ¥10.70 ¥9.69 ¥7.52 ¥7.41 ¥7.46 ¥5.25 ¥6.74 0.21 0.78 ¥0.84 ¥1.25 576 ¥2,526 239 1,152 ¥1,498 ¥570 ¥478 ¥927 ¥1,039 ¥1,425 ¥649 ¥907 ¥200 ¥18,413 ¥25,493 ¥7,595 ¥2,593 ¥13,426 ¥260 ¥3,431 ¥6,845 ¥2,823 ¥4,023 ¥1,974 ¥2,638 ¥678 ¥15,933 ¥14,683 ¥6,870 ¥1,815 ¥9,639 217 ¥2,580 ¥5,638 ¥1,863 ¥3,277 ¥1,662 ¥1,976 ¥798 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 ¥0.70 ¥0.18 ¥0.09 Percentage point change due to technical assumptions ¥0.72 ¥0.43 ¥0.21 Current reestimate amount 2 ($ thousands) ¥732 ¥70 ¥3 Net lifetime reestimate amount 3 ($ thousands) ¥1,056 ¥70 ¥3 Net lifetime reestimate amount, excluding interest ($ thousands) ¥910 ¥63 ¥3 Total disbursements to date ($ thousands) 60,499 11,950 1,010 Original Subsidy Rate FY 2005 ............................................................................................ FY 2006 ............................................................................................ FY 2007 ............................................................................................ 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 ............................................................................................ FY 2007 ............................................................................................ 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 ............................................................................................ FY 2007 ............................................................................................ FFB Guaranteed Underwriting FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... Rural Telephone Bank Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... ¥1.21 ¥1.80 0.37 .......................... 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 ¥1.49 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 0.03 ¥2.63 ¥2.41 0.07 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) .......................... .......................... (4) .......................... .......................... .......................... ¥696 193 32,628 .......................... ¥1,418 ¥1,260 48,978 .......................... 3,772 2,852 40,126 .......................... 715 ¥414 55,275 .......................... ¥160 ¥20 40,621 .......................... 3,335 3,211 36,156 .......................... ¥49 ¥50 26,748 .......................... 126 101 21,194 .......................... 1,202 1,068 77,194 .......................... 1,542 1,382 53,216 .......................... 2,285 2,150 50,613 .......................... 6,239 6,134 103,686 .......................... 1,026 974 162,837 .......................... ¥133 ¥127 56,197 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥6.94 2.93 ¥9.89 7,016 ¥14,885 ¥8,862 132,648 ¥10.00 6.43 ¥16.45 811 ¥23,154 ¥15,917 172,388 ¥9.33 2.38 ¥11.73 1,062 ¥14,978 ¥11,046 120,428 ¥7.03 5.13 ¥12.18 ¥2,689 ¥11,215 ¥7,331 109,553 ¥4.87 2.03 ¥6.92 ¥1,996 ¥11,526 ¥8,822 167,336 ¥1.76 2.41 ¥4.44 ¥930 ¥2,080 ¥2,526 132,291 ¥0.88 2.39 ¥4.06 ¥9,554 ¥3,203 ¥2,612 162,079 ¥3.13 ¥2.41 0.28 ¥1,217 ¥3,653 ¥3,694 139,466 ¥4.02 ¥2.45 ¥1.67 ¥2,943 ¥7,329 ¥5,279 104,134 ¥3.06 ¥1.58 ¥1.53 ¥2,573 ¥4,654 ¥3,963 112,735 ¥3.84 2.06 ¥5.95 ¥654 ¥2,191 ¥1,632 41,407 ¥1.85 0.53 ¥2.42 ¥2,915 ¥3,068 ¥2,607 145,809 ¥1.55 ¥2.40 0.80 ¥2,057 ¥2,319 ¥2,160 133,020 (4) .......................... .......................... .......................... .......................... .......................... .......................... 5.28 7.59 3.52 2.49 6.34 6.83 ¥1.18 ¥5.28 ¥5.89 ¥15.33 ¥13.59 ¥20.81 ¥28.53 ¥19.87 2,652 26,945 119 997 ¥4,095 ¥11,142 ¥8,985 ¥753 26,945 ¥26,615 ¥18,402 ¥21,896 ¥26,491 ¥11,955 ¥4 25,110 ¥9,930 ¥8,468 ¥12,551 ¥14,692 ¥6,618 1,000,000 1,500,000 96,833 81,361 98,865 78,389 38,340 .......................... .......................... ¥1.26 0.44 2.05 0.02 0.39 0.44 2.87 ¥9.76 ¥11.08 ¥14.08 ¥21.26 ¥18.18 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 ¥2.22 ¥2.41 ¥2.70 ¥2.60 ¥6.36 ¥2.49 ¥1.59 ¥0.14 4.73 3.12 6.84 4.43 3.44 ¥2.62 3.47 4.17 ¥1.93 4.11 ¥6.92 ¥2.53 ¥3.17 2.59 ¥0.12 0.34 ¥0.30 Percentage point change due to technical assumptions ¥17.47 ¥11.75 ¥4.17 ¥5.13 ¥2.38 ¥1.45 0.02 ¥3.57 ¥8.95 Current reestimate amount 2 ($ thousands) ¥2,659 ¥3,388 ¥1,406 ¥2,064 ¥2,483 ¥862 ¥230 ¥783 ¥1,636 Net lifetime reestimate amount 3 ($ thousands) ¥12,333 ¥15,205 ¥4,233 ¥7,470 ¥7,517 ¥1,570 ¥308 ¥2,631 ¥3,129 Net lifetime reestimate amount, excluding interest ($ thousands) ¥8,409 ¥10,712 ¥3,020 ¥5,621 ¥5,706 ¥1,243 ¥236 ¥2,004 ¥2,667 Total disbursements to date ($ thousands) 38,473 63,179 33,620 55,528 38,592 23,056 14,177 45,624 51,195 81,704 92,568 152,543 160,920 180,549 121,345 177,968 141,976 166,960 265,139 331,753 221,535 339,946 387,494 135,239 27,606 187,175 165,087 122,655 18,611 21,184 15,592 6,373 2,979 2,321 737 862 791 413 66 Original Subsidy Rate FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... Rural Housing Service: 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 ..................................................................................................... FY 2007 ..................................................................................................... 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 ................................................................................................ FY 2007 ................................................................................................ 1.32 2.12 2.65 1.88 1.48 2.14 1.38 ¥4.32 ¥1.83 ¥18.37 ¥12.04 ¥4.22 ¥5.85 ¥7.26 ¥1.80 ¥0.19 ¥8.03 ¥6.05 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 6.41 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 0.48 9.11 10.74 14.83 12.15 9.98 9.71 11.57 9.66 6.47 2.98 2.87 5.15 3.10 6.21 4.41 6.80 ¥4.61 ¥4.24 ¥2.17 ¥3.43 ¥4.20 ¥2.49 ¥0.98 ¥2.15 ¥3.70 ¥1.79 ¥0.03 2.08 1.22 2.28 0.72 0.69 ¥523 ¥518 ¥1,136 ¥1,297 ¥1,485 ¥868 ¥401 182 ¥3,721 ¥305 ¥2,243 ¥1,116 6,652 7,151 1,315 66 ¥3,937 451 2,222 ¥1,116 ¥15,370 2,047 6,127 ¥6,334 321 ¥21,717 ¥8,127 ¥1,774 15,245 9,343 1,493 66 ¥1,553 1,596 2,080 ¥917 ¥12,544 880 5,034 ¥6,017 515 ¥22,831 ¥8,403 ¥2,620 13,529 8,102 1,334 62 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) .......................... .......................... (4) .......................... .......................... .......................... ¥8,766 ¥3,107 .......................... ¥4,606 ¥2,295 .......................... 3,318 319 .......................... 1,821 1,010 .......................... 163 ¥600 .......................... 771 501 .......................... 490 395 .......................... 79 36 .......................... 149 101 .......................... 32 30 .......................... 103 99 .......................... 104 101 .......................... .......................... .......................... .......................... .......................... .......................... 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 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 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ FY 2007 ................................................................................................ Direct 502 Manufactured Home Disaster Demo FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ Section 504 Housing Repair FY 1992 ................................................................................................ FY 1993 ................................................................................................ FY 1994 ................................................................................................ FY 1995 ................................................................................................ FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ 50.55 13.97 48.31 39.54 49.03 42.17 46.68 44.20 48.44 45.40 45.33 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 10.03 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 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) .......................... .......................... (4) .......................... .......................... 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) .......................... .......................... (4) .......................... .......................... ¥8.99 0.42 ¥23.99 28.87 26.71 29.10 30.65 29.19 29.99 25.32 25.71 26.65 24.48 ¥5.32 ¥3.93 ¥7.33 0.55 1.84 0.21 ¥0.49 ¥0.12 0.33 ¥0.52 ¥1.71 5.02 ¥4.26 .......................... 405 349 4,234 .......................... 248 315 989 .......................... ¥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 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥155,353 ¥67,982 .......................... ¥132,171 ¥76,795 .......................... ¥105,668 ¥48,771 .......................... ¥70,458 ¥54,460 .......................... 10,643 14,719 .......................... 8,780 6,326 .......................... 24,155 15,964 .......................... 24,483 19,164 .......................... 80,257 66,428 .......................... ¥62,497 ¥63,197 .......................... ¥69,497 ¥63,723 .......................... ¥153,379 ¥143,257 .......................... 26,972 25,328 .......................... ¥70,120 ¥67,120 .......................... .......................... .......................... .......................... .......................... .......................... ¥94 ¥87 ¥91 ¥1,891 ¥1,558 ¥2,327 ¥2,836 ¥3,431 ¥2,338 ¥3,149 ¥2,953 ¥1,636 ¥3,671 ¥74 ¥72 ¥80 ¥1,549 ¥1,320 ¥2,068 ¥2,540 ¥2,791 ¥1,909 ¥2,551 ¥2,239 ¥978 ¥3,118 1,238,296 1,269,332 1,636,603 919,860 994,496 672,979 967,534 930,275 1,103,453 1,034,315 1,032,767 989,879 1,275,380 1,104,811 1,194,346 963,067 256 416 191 11,024 11,468 24,310 28,345 33,365 28,766 28,209 23,512 25,009 28,462 ¥23.74 .......................... ¥13.33 .......................... ¥34.58 .......................... ¥14.60 ¥13.35 ¥8.72 ¥8.47 ¥8.24 ¥6.97 ¥8.52 ¥7.81 ¥8.93 ¥6.70 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 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) 31,954 29,980 31,607 34,645 34,661 27,253 Original Subsidy Rate FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Section 515 Multi-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 ................................................................................................ FY 2007 ................................................................................................ Section 523 Self-Help Site Housing FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Section 524 Site Development FY 2001 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Section 514 Farm Labor Housing FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... 32.13 31.02 27.46 29.06 29.25 29.55 43.30 49.55 58.06 54.55 53.80 51.24 45.85 48.25 39.68 49.27 42.32 46.63 43.01 47.09 45.88 45.67 5.61 5.57 4.41 3.08 ¥0.47 1.03 2.47 0.12 1.09 ¥0.03 ¥4.94 ¥3.51 ¥1.66 55.21 45.48 50.00 52.48 56.80 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) .......................... .......................... (4) .......................... .......................... .......................... ¥2,827 ¥2,443 .......................... ¥3,045 ¥2,828 .......................... ¥957 ¥885 .......................... ¥886 ¥849 .......................... .......................... .......................... .......................... .......................... .......................... 58.84 ¥3.17 18.71 35,674 103,950 75,713 564,262 58.33 6.16 2.62 27,928 59,678 35,505 565,371 60.70 2.40 0.24 19,301 13,621 ¥2,920 505,323 56.25 2.99 ¥1.29 11,848 5,413 ¥1,136 179,792 56.79 ¥2.57 5.56 5,432 2,976 1,212 146,926 53.60 3.62 ¥1.26 11,162 5,307 99 143,387 48.91 7.49 ¥4.43 3,520 4,825 1,988 142,648 48.63 ¥1.23 1.61 1,109 1,012 ¥1,209 110,129 46.56 4.50 2.38 1,145 8,214 5,870 107,477 41.36 ¥7.60 ¥0.31 ¥4,335 ¥9,519 ¥9,612 111,652 43.47 ¥2.19 3.34 178 1,475 353 100,874 44.08 ¥5.12 2.57 ¥12 ¥2,021 ¥3,219 97,995 42.38 ¥8.25 7.62 ¥108 ¥1,541 ¥1,684 87,795 43.33 ¥9.99 6.23 ¥2,311 ¥2,508 ¥2,507 54,995 43.20 ¥7.12 4.44 ¥932 ¥932 ¥774 21,388 (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) .......................... .......................... (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) .......................... .......................... (4) .......................... .......................... 51.49 54.84 57.35 53.60 53.66 ¥0.37 8.63 4.11 2.19 ¥3.20 ¥3.35 0.73 3.24 ¥1.07 0.06 .......................... 122 101 1,248 .......................... ¥219 ¥207 3,874 .......................... ¥54 ¥51 979 .......................... ¥51 ¥49 2,421 .......................... 113 109 2,295 .......................... .......................... .......................... 1,447 .......................... .......................... .......................... .......................... .......................... 47 36 .......................... ¥14 ¥13 .......................... ¥136 ¥131 .......................... 3 3 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥1,120 1,893 1,966 156 ¥346 ¥588 1,508 1,149 169 ¥466 2,960 1,165 3,218 435 423 899 15,804 16,112 15,627 15,052 14,830 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) 15,090 14,515 18,122 27,327 25,280 25,767 17,599 15,869 10,018 3,494 388 Original Subsidy Rate FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Multi-Family Housing Revitalization Seconds FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Multi-Family Housing Revitalization Zero FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Multi-Family Housing Relending Demo FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Rural Business Cooperative Service: Business and Industry Loans FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... 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 ..................................................................................................... 47.77 49.25 52.03 45.23 52.59 47.31 49.02 42.73 47.06 44.59 47.95 87.52 87.08 54.37 54.11 46.76 46.76 47.82 0.51 ¥7.16 ¥14.64 ¥14.16 5.82 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 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) .......................... .......................... (4) .......................... .......................... .......................... 517 432 .......................... 527 399 .......................... ¥332 ¥317 .......................... 536 397 .......................... ¥1,208 ¥1,114 .......................... ¥624 ¥576 .......................... ¥101 ¥95 .......................... 42 40 .......................... 15 14 .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... 1,334 (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... 57.71 40.48 51.84 57.17 62.33 49.25 51.14 51.75 47.30 45.49 46.51 45.40 45.90 44.16 42.04 41.01 43.50 41.87 43.87 43.62 ¥16.21 ¥10.90 2.50 ¥2.20 2.77 8.38 1.03 ¥3.81 ¥1.83 ¥8.37 3.35 0.58 ¥2.61 2.09 ¥8.12 ¥2.50 ¥5.25 ¥1.01 ¥2.29 ¥0.68 73.41 58.54 63.98 73.53 53.74 ¥9.16 ¥4.11 ¥1.98 ¥4.89 ¥5.64 ¥3.32 ¥3.43 ¥1.84 ¥1.36 ¥0.75 0.30 0.49 ¥0.39 ¥0.22 1.28 .......................... .......................... .......................... .......................... .......................... ¥6 ¥27 281 ¥5 ¥435 ¥211 ¥207 ¥143 ¥184 ¥505 ¥436 ¥480 ¥212 ¥601 2,823 8,171 11,072 18,959 22,656 28,522 ¥1,157 ¥392 ¥4,798 ¥7,600 ¥5,717 ¥497 ¥1,140 ¥1,600 44 ¥3,047 ¥532 ¥1,814 ¥583 ¥761 4,283 6,037 9,314 16,521 19,577 25,643 ¥750 ¥1,323 ¥5,551 ¥6,496 ¥4,921 ¥418 ¥1,110 ¥1,570 ¥140 ¥3,033 ¥738 ¥1,903 ¥693 ¥806 3,911 10,554 19,552 24,851 28,828 45,377 32,500 32,390 76,267 82,558 32,935 33,903 28,042 28,552 34,599 30,237 27,129 32,147 25,714 21,495 16,602 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 ¥0.18 ¥1.74 1.50 3.15 2.44 ¥0.13 3.29 1.93 0.93 3.45 ¥1.52 ¥6.92 ¥4.15 3.47 1.58 1.00 ¥0.14 Percentage point change due to technical assumptions 0.71 ¥1.42 0.33 ¥0.58 ¥0.07 ¥6.97 ¥6.11 ¥2.88 ¥3.24 ¥3.02 ¥5.53 0.06 ¥1.41 ¥3.69 3.74 ¥0.26 5.86 ¥9.34 ¥24.46 ¥23.38 ¥24.20 ¥18.49 ¥12.05 ¥7.49 ¥9.48 ¥5.67 ¥4.80 ¥16.38 2.01 ¥4.91 ¥2.73 1.13 Current reestimate amount 2 ($ thousands) ¥7 ¥5 ¥1 16 151 643 ¥541 ¥903 ¥569 ¥258 66 26 2,361 ¥27 832 ¥7 253 4,103 2,461 ¥11,381 ¥10,605 ¥8,090 12,300 13,041 65,231 ¥556 1,882 661 940 690 ¥334 ¥117 Net lifetime reestimate amount 3 ($ thousands) ¥7 ¥290 531 490 636 ¥1,262 ¥516 ¥437 ¥220 ¥204 ¥1,008 ¥1,106 ¥472 ¥63 1,212 131 253 ¥104,931 ¥415,518 ¥104,133 ¥80,493 ¥92,891 ¥30,935 ¥24,350 ¥195,434 ¥1,742 ¥3,220 ¥18,700 ¥1,498 ¥2,437 ¥737 ¥117 Net lifetime reestimate amount, excluding interest ($ thousands) ¥6 ¥313 74 165 129 ¥1,010 ¥355 ¥357 ¥384 ¥115 ¥1,366 ¥932 ¥756 ¥74 1,097 72 241 ¥45,694 ¥182,438 ¥52,150 ¥44,663 ¥56,388 ¥20,534 ¥17,501 ¥151,541 ¥1,535 ¥2,181 ¥17,434 ¥1,616 ¥2,498 ¥665 ¥106 Total disbursements to date ($ thousands) 1,014 6,936 12,189 13,068 11,318 12,260 11,142 22,912 12,590 13,155 18,652 13,257 13,320 12,579 23,884 19,157 4,756 384,029 853,948 234,327 179,855 205,793 158,140 168,928 594,430 81,534 104,461 107,138 59,785 45,819 39,269 8,930 Original Subsidy Rate FY 2007 ..................................................................................................... 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 ..................................................................................................... FY 2007 ..................................................................................................... Foreign Agricultural Service: P.L. 480 Direct Credits 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 Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ 44.07 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 21.84 67.10 58.75 76.54 81.19 79.65 70.87 67.03 76.45 50.56 60.76 76.18 56.80 57.17 58.84 54.14 44.60 27.13 27.65 27.99 27.29 21.38 20.11 22.96 22.91 23.45 19.02 17.30 15.80 18.39 24.11 20.71 27.56 55.10 37.32 53.92 55.64 57.38 57.66 56.94 50.84 48.66 58.61 59.40 54.11 51.65 52.83 53.77 ¥2.66 3.03 0.76 ¥1.35 ¥3.78 ¥1.16 ¥2.60 ¥16.13 3.77 2.65 ¥0.40 ¥4.70 ¥0.61 ¥3.28 ¥1.50 2.00 2.00 2.00 2.00 ¥8.33 ¥13.05 ¥10.13 ¥10.28 0.17 ¥0.47 2.10 ¥3.14 ¥10.50 ¥14.58 ¥14.23 ¥9.14 16 ¥29 ¥29 6 ¥516 ¥676 ¥463 ¥385 ¥416 ¥660 ¥433 ¥405 3,643 4,197 3,391 3,018 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) 3,213 2,663 2,910 2,688 2,859 441 21,061 16,443 20,288 12,150 16,517 19,000 13,230 59,000 40,401 35,312 17,070 1,195 434 75,000 Original Subsidy Rate FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Traditional Direct Loans FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ North East Initiative Loans FY 1998 ................................................................................................ FY 1999 ................................................................................................ Pollock Buyback FY 1999 ................................................................................................ NE Groundfish Buyback FY 2003 ................................................................................................ Pacific Ground Fish Buyback FY 2003 ................................................................................................ Non-Pollock Buyback FY 2006 ................................................................................................ Crab Buyback FY 2002 ................................................................................................ Tuna Buyback FY 2003 ................................................................................................ Federal Gulf of Mexico Reef Fishery Buyback FY 2005 ................................................................................................ Department of Defense Family Housing: Family Housing Improvement Fund Direct Loans FY 1998 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... 0.26 ¥12.03 ¥15.94 ¥18.45 ¥11.88 ¥8.08 1.00 1.00 1.00 1.00 1.00 ¥15.66 ¥11.89 ¥5.49 ¥13.71 ¥8.07 ¥8.01 5.00 5.00 1.00 ¥0.37 1.08 1.00 ¥4.60 ¥11.89 1.28 ¥15.27 ¥10.76 ¥16.62 ¥9.57 ¥18.47 (4) ¥4.54 ¥10.99 16 ¥515 ¥496 .......................... 1.27 36 ¥20 31 .......................... ¥0.68 ¥1 ¥95 ¥24 .......................... 8.88 22 194 252 .......................... ¥6.59 ¥90 ¥286 ¥212 .......................... .......................... .......................... .......................... .......................... ¥4.27 3.06 ¥8.33 7 ¥2,005 ¥1,245 ¥5.05 ¥0.04 ¥6.01 110 ¥1,383 ¥1,323 ¥5.71 ¥0.67 ¥6.04 11 ¥1,621 ¥1,642 ¥5.18 1.76 ¥7.94 ¥5 ¥850 ¥776 ¥3.68 ¥19.28 14.60 ¥8 ¥904 ¥791 ¥13.20 ¥5.18 7.64 76 403 423 ¥16.11 ¥6.72 2.50 13 ¥776 ¥555 ¥13.14 ¥0.78 ¥6.87 585 ¥5,996 ¥4,475 ¥13.76 .......................... ¥0.05 ¥382 ¥1,035 ¥83 ¥20.35 .......................... ¥12.28 ¥3,513 ¥5,292 ¥4,656 (4) .......................... .......................... .......................... .......................... .......................... ¥3.00 ¥2.43 ¥9.47 0.18 0.11 ¥4.69 ¥8.18 ¥7.54 ¥5.78 ¥1 * 602 ¥153 ¥32 ¥10,938 ¥105 ¥34 ¥8,210 (4) .......................... .......................... .......................... .......................... .......................... .......................... ¥19.23 ¥7.23 ¥13.08 ¥9,304 ¥1 15,974 255 ¥9,779 ¥1 ¥6,099 1,801 ¥6,914 ¥1 ¥8,594 2,434 35,662 35,000 97,399 38,301 1.00 .......................... .......................... ¥11.89 ¥5.42 ¥7.30 ¥6.23 0.01 12.70 (4) .......................... .......................... .......................... .......................... .......................... .......................... 40.77 53.48 52.63 37.97 34.92 22.52 57.40 45.71 28.52 20.63 ¥2.99 ¥0.88 ¥1.26 ¥4.90 ¥15.33 ¥15.26 4.80 ¥5.67 ¥4.55 1.04 ¥1,037 ¥1,208 ¥1,860 1,002 ¥8,632 ¥2,692 1,137 ¥8,618 ¥1,076 ¥8,632 ¥1,753 2,258 ¥5,667 ¥1,046 ¥6,786 10,599 51,149 79,899 21,950 58,550 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) Total disbursements to date ($ thousands) Original Subsidy Rate FY 2004 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations 6 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 ................................................................................................ FY 2007 ................................................................................................ 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 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Historically Black College and University Hurricane Supplemental FY 2007 ..................................................................................................... Department of Health and Human Services Centers for Medicare and Medicaid Services: Health Care Infrastructure Improvement FY 2006 ..................................................................................................... 28.97 2.56 14.57 27.01 .......................... ¥1.96 ¥3,604 ¥2,993 ¥1,477 86,400 (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... .......................... 10.01 8.82 2.56 3.09 1.70 ¥2.11 ¥8.96 ¥4.46 ¥3.88 ¥1.46 ¥0.62 3.47 5.12 1.48 10.02 ¥0.01 9.91 (5) 8.35 (5) 7.60 (5) 5.77 (5) 6.16 ¥1.51 11.01 8.18 7.28 ¥1.63 5.94 0.88 1.37 4.23 3.42 ¥1.64 5.09 ¥2.76 3.00 ¥2.73 1.37 .......................... 0.02 1.09 5.79 4.51 4.07 9.78 11.79 13.37 8.94 ¥1.40 5.68 4.38 0.61 ¥0.11 7,486 72,318 16,466 39,661 11,968 34,984 ¥38,848 ¥5,867 509,712 ¥260,886 ¥244,217 336,004 129,858 ¥24,120 31,096 233,099 985,870 982,162 997,044 2,141,104 3,620,921 2,582,497 2,317,362 599,593 862,948 433,157 ¥854,679 ¥24,120 ¥7,993 ¥26,253 479,336 448,423 449,424 1,438,004 3,006,041 2,131,952 1,919,115 522,150 776,969 362,725 ¥821,358 ¥22,958 818,540 4,935,497 9,450,125 11,127,865 12,515,212 17,778,921 15,995,772 18,097,203 20,020,183 18,421,900 20,161,882 28,335,553 31,561,307 11,761,462 25.13 10.09 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 76.14 17.72 14.92 ¥0.32 0.70 42.50 7.52 3.64 0.63 ¥1.23 68.29 69.80 ¥10.84 3.77 (5) (5) (5) (5) (5) (5) (5) (5) (5) 3.43 1.06 ¥0.32 0.70 42.50 7.52 3.64 0.63 ¥1.23 68.29 ¥6.34 ¥1,119 ¥639 ¥42 13 923 ¥57 ¥146 277 ¥268 1,127 ¥1,489 ¥2,777 124 ¥18 60 7,370 4,199 1,890 267 ¥201 1,127 ¥1,489 ¥1,590 794 ¥7 33 5,340 3,191 1,590 229 ¥181 1,069 ¥16,989 9,344 17,871 3,389 4,968 12,963 43,650 44,705 39,499 15,185 1,607 160,600 100.00 (4) .......................... .......................... .......................... .......................... .......................... 140,000 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) Total disbursements to date ($ thousands) Original Subsidy Rate Department of Homeland Security Federal Emergency Management Agency: Community Disaster Loans FY 1993 ..................................................................................................... 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 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... 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 ..................................................................................................... 25.00 75.00 94.28 ¥18.31 87.59 ¥29 37,301 25,379 36,461 790,551 (4) .......................... .......................... .......................... .......................... .......................... 55.21 57.94 65.27 58.72 44.60 46.09 57.01 42.84 39.88 51.30 50.96 61.60 63.58 80.42 59.82 58.99 62.66 62.03 48.44 57.57 49.26 46.62 2.77 ¥2.41 2.11 ¥3.70 6.24 3.87 ¥0.50 5.96 0.21 1.65 1.69 3.62 8.04 13.04 4.79 8.14 12.71 5.52 ¥0.36 17.48 ¥3.70 ¥6.02 ¥336 ¥279 7,399 ¥222 ¥244 3,457 ¥3,397 892 6,746 ¥2,923 ¥1,377 ¥160 225 9,900 407 740 4,475 ¥3,317 1,735 8,075 ¥3,110 ¥2,314 67 53 7,512 168 318 3,314 ¥2,643 309 6,295 ¥2,632 ¥2,091 3,062 6,483 20,428 9,059 14,036 14,585 20,523 14,185 28,210 16,010 20,803 19.30 19.80 22.81 22.81 61.54 9.08 42.96 40.27 (5) (5) (5) (5) 42.24 ¥10.72 20.15 17.46 ¥359 ¥2,599 35 ¥273 7,845 ¥4,100 4,004 1,002 5,016 ¥1,814 2,340 405 11,223 11,230 10,873 3,273 15.58 30.06 8.82 5.66 ¥297 1,498 536 18,600 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 80.00 (4) (4) (4) (4) (4) (4) (4) (4) (4) .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 897 704 681 602 840 970 937 780 541 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) .......................... .......................... .......................... .......................... .......................... .......................... .......................... Total disbursements to date ($ thousands) 520 633 543 1,011 1,009 994 1,092 Original Subsidy Rate FY FY FY FY FY FY FY 2001 2002 2003 2004 2005 2006 2007 ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... Department of Transportation 80.00 80.00 80.00 71.00 69.73 64.99 60.14 (4) (4) (4) (4) (4) (4) (4) Federal Highway Administration: Transportation Infrastructure Finance and Innovation: TIFIA Direct Loans FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2003 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Federal Railroad Administration: Railroad Rehabilitation and Improvement Financing Program FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... 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 ..................................................................................................... FY 2007 ..................................................................................................... 3.91 0.19 10.89 7.10 13.81 8.50 3.49 3.76 ¥1.27 1.12 .......................... ¥4,364 ¥3,545 315,000 ¥0.51 ¥2.57 1.87 .......................... ¥904 ¥1,115 159,161 14.64 ¥0.41 4.16 .......................... ¥4,766 ¥4,492 175,430 19.60 14.38 ¥1.88 11,944 17,039 15,561 140,000 (4) .......................... .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... 83 (4) .......................... .......................... .......................... .......................... .......................... 97,800 .......................... .......................... .......................... .......................... .......................... .......................... 8.66 ¥0.06 8.72 10,867 11,006 8,588 101,921 ¥11.04 ¥8.84 ¥2.20 1,119 ¥1,701 ¥1,461 13,300 ¥5.89 ¥1.50 ¥4.39 2,193 ¥21,762 ¥15,362 263,179 1.50 3.60 ¥2.10 ¥154 2,744 1,694 114,292 3.05 3.41 ¥0.36 ¥224 172 282 9,350 (4) .......................... .......................... .......................... .......................... .......................... .......................... 44.95 32.14 40.93 46.30 38.13 37.63 38.49 32.85 33.08 37.53 38.38 37.47 36.40 ¥3.41 29.73 ¥6.68 46.97 ¥0.98 35.35 ¥12.69 35.68 ¥4.70 34.48 ¥3.58 37.14 ¥1.19 29.41 ¥3.44 29.63 ¥3.45 40.57 3.05 30.43 ¥7.95 (4) .......................... ¥5.14 ¥857 ¥1,363 ¥578 6,623 4.27 86 ¥34 ¥14 1,100 7.01 100 171 330 6,150 1.74 600 ¥1,239 ¥1,136 11,070 2.25 111 ¥368 ¥306 12,105 0.42 ¥101 ¥322 ¥352 12,677 ¥0.15 ¥119 ¥104 ¥99 8,260 .......................... 24 ¥95 ¥97 2,615 .......................... ¥287 ¥193 ¥148 4,994 .......................... ¥291 204 238 7,038 .......................... ¥86 ¥86 ¥79 1,040 .......................... .......................... .......................... .......................... .......................... 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 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 ..................................................................................................... FY 2007 ..................................................................................................... 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 ..................................................................................................... FY 2007 ..................................................................................................... Vocational Rehabilitation Loan Fund FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Veterans Health Administration: Transitional Housing for Homeless Veterans FY 2005 ..................................................................................................... 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 5.19 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 ¥13.46 1.33 1.14 1.59 2.00 ¥2.54 1.22 13.87 0.76 2.71 4.21 0.62 6.46 ¥0.49 ¥8.12 ¥12.36 ¥13.85 ¥9.04 ¥12.18 ¥1.62 5.27 6.82 6.27 1.11 2.21 1.17 ¥22.46 ¥7.39 ¥2.85 ¥15.14 ¥15.84 ¥14.78 ¥2.81 0.14 ¥1.84 0.63 2.14 2.23 2.39 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 ¥4.72 ¥1.82 (5) (5) (5) (5) (5) (5) (5) (5) (5) ¥10.34 ¥14.38 ¥6.26 ¥2.95 ¥5.56 ¥0.45 0.32 0.45 0.11 ¥10.03 ¥7.38 11.23 ¥1.56 1.83 0.89 ¥1.39 ¥1.50 ¥3.72 ¥9.75 ¥11.84 ¥10.67 ¥5.89 ¥5.81 1.13 1.90 ¥0.90 ¥1.45 ¥6.61 ¥5.51 ¥6.55 ¥30.18 ¥15.11 ¥10.57 ¥22.86 3.46 ¥0.68 11.20 16.88 17.18 ¥0.25 0.68 0.19 0.28 ¥8,984 ¥6,187 ¥3,541 ¥14,372 ¥38,705 ¥29,602 ¥50,534 ¥51,794 ¥68,941 ¥73,622 ¥133,416 ¥84,359 ¥43,672 ¥38,612 17,045 1,714 ¥56 225 270 80 73 ¥36 98 26 ¥132 ¥516 ¥652 4,017 ¥444 443 ¥32 70 ¥663 5 ¥223,799 ¥142,442 314,530 ¥7,140 20,231 59,833 ¥36,451 9,015 ¥51,823 ¥157,037 ¥167,043 ¥89,802 ¥23,914 ¥38,081 ¥9,433 1,714 ¥15 87 ¥442 65 ¥171 ¥1,016 ¥279 ¥146 ¥1,371 ¥1,773 ¥797 2,783 292 443 ¥17 53 13 5 ¥132,582 ¥125,247 183,400 ¥16,332 6,019 36,558 ¥22,983 ¥18,014 ¥48,604 ¥131,384 ¥135,047 ¥63,924 ¥15,104 ¥32,756 ¥5,721 198 ¥5 ¥81 ¥404 ¥52 ¥178 ¥790 ¥255 ¥152 ¥1,238 ¥1,277 ¥778 125 322 344 ¥20 31 28 9 1,418,895 1,597,139 1,560,393 1,526,404 1,327,811 1,284,589 1,369,896 1,633,229 1,426,755 1,235,250 1,019,217 516,407 156,143 191,859 154,640 118,958 763 5,595 6,467 5,558 2,702 2,882 1,555 1,351 5,700 10,733 5,510 5,095 5,118 5,132 2,901 3,096 2,807 2,403 99.24 91.28 0.14 ¥8.10 ¥91 ¥91 ¥80 5,062 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 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 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... NIS Direct Loans FY 1994 ..................................................................................................... FY 1996 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... 42.87 40.46 35.36 42.87 (5) (5) ¥7.51 2.41 ¥34 33 ¥4,238 1,607 ¥2,066 1,131 27,530 48,052 14.52 16.00 4.95 7.67 10.92 13.44 12.34 .......................... 7¥2.18 77.86 ¥0.20 ¥4.74 ¥6.07 ¥5.81 70.17 ¥3.13 ¥6.30 1.14 6.29 ¥2.29 0.42 ¥4.36 0.74 .......................... ¥10.40 ¥9.28 ¥11.43 ¥10.12 ¥17.40 ¥14.88 ¥12.91 ¥3.13 .......................... .......................... .......................... ¥4,206 12,431 3,491 .......................... ¥62,645 ¥87,528 ¥119,699 ¥72,633 ¥73,665 ¥106,330 ¥62,289 ¥12,838 ¥54,632 ¥57,630 ¥69,548 ¥39,601 ¥64,740 ¥93,301 ¥56,879 ¥12,170 ¥23,854 345,000 855,000 769,500 557,685 544,000 297,500 100,000 1,059,718 17.27 19.03 4.46 6.77 12.06 13.61 18.42 3.85 0.59 14.62 3.20 14.40 2.53 1.72 4.42 5.46 2.09 7.48 11.21 8.68 9.55 ¥8.62 (5) ¥8.79 ¥384 ¥5,826 ¥2,960 7.18 (5) 6.99 .......................... ¥1,087 ¥769 ¥4.15 (5) ¥4.19 .......................... ¥11,194 ¥4,328 ¥6.31 (5) ¥6.38 .......................... ¥345 ¥162 ¥7.83 (5) ¥7.95 .......................... ¥5,288 ¥3,175 ¥8.79 ¥0.01 ¥8.91 470 ¥9,898 ¥7,906 6.98 ¥0.05 6.84 2,239 ¥679 ¥1,927 3.15 ¥0.01 3.12 ¥6,316 ¥560 1,391 46.52 1.26 45.26 22,241 52,513 40,634 14.39 ¥8.66 8.43 ¥399 1,346 319 12.57 ¥5.81 15.18 3,872 46,832 36,027 27.95 ¥0.42 13.97 18,590 18,590 15,644 (4) .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... (4) .......................... .......................... .......................... .......................... .......................... ¥1.75 ¥5.54 9.96 ¥5.70 2.98 47.88 (5) (5) (5) (5) (5) (5) ¥1.80 ¥5.56 9.89 ¥16.91 ¥5.70 38.33 ¥1,852 ¥4,411 3 ¥597 ¥1,541 5,377 ¥3,417 ¥4,973 20 ¥597 ¥1,541 5,377 ¥860 ¥680 10 ¥320 ¥1,427 4,236 10,680 7,100 48,325 1,100 22,900 32,550 35,398 42,362 96,494 13,535 358,134 103,070 71,799 84,819 2,670 13,000 11,000 555 2,500 31,200 12,706 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 Small Business Administration General Business Loan Programs: 7(m) Direct Microloans 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 ..................................................................................................... FY 2007 ..................................................................................................... SBIC Direct Preferred Stock and Fee Loans FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... 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 ..................................................................................................... 17.00 15.95 10.15 19.61 15.69 8.86 10.31 9.54 8.54 8.95 6.78 13.05 9.55 10.25 7.17 10.21 44.33 38.06 31.64 43.10 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 ¥5.01 ¥6.60 ¥15.41 9 ¥5,076 ¥2,387 17.92 ¥4.73 6.70 65 1,328 556 35.36 0.75 24.46 200 3,437 1,845 6.31 ¥9.37 ¥3.93 170 ¥2,192 ¥1,567 14.37 ¥5.75 4.43 ¥8 42 ¥55 19.55 1.13 9.56 540 1,342 825 8¥211.98 ¥0.30 ¥221.99 151 ¥30,760 ¥21,213 21.02 ¥3.46 14.94 686 2,282 1,538 7.96 5.66 ¥6.24 1,211 3 ¥152 7.51 3.20 ¥4.64 778 ¥203 ¥361 7.15 ¥9.30 9.67 530 216 51 24.03 ¥5.29 16.27 1,780 2,677 3,004 14.67 0.64 4.48 498 676 917 14.22 ¥10.25 14.22 899 360 549 11.03 ¥7.17 11.03 482 482 500 (4) .......................... .......................... .......................... .......................... .......................... 25.29 50.03 29.01 32.35 23.78 27.00 47.47 26.09 29.24 48.75 46.68 45.44 56.58 67.82 30.52 28.54 38.24 (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) ¥19.04 11.97 ¥2.63 ¥10.75 ¥6.52 9.13 34.18 ¥4.21 11.41 26.86 10.32 19.73 22.54 26.00 0.22 10.67 13.19 ¥5,537 ¥1,050 ¥3,219 ¥213 ¥* ¥* ¥* ¥* ¥26 ¥1 ¥30 ¥1 ¥2 ¥94 ¥* ¥* ¥* ¥6,915 3,191 ¥1,013 ¥1,130 ¥554 855 1,548 ¥1,234 2,014 4,301 3,127 4,645 4,246 1,939 39 3,558 3,135 ¥2,086 1,650 ¥153 ¥523 ¥272 473 889 ¥582 1,111 2,412 1,530 2,550 2,389 1,115 77 1,955 1,753 11,118 21,973 7,260 12,430 7,998 7,941 9,551 13,355 25,622 26,871 12,874 27,396 17,729 14,962 12,824 3,542 12,050 12,356 15,029 5,594 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 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 Disaster Loan Program: Disaster 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 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Economic Injury Disaster LoansTerrorist 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 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... Federal Communications Commission: C Block FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... 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 17.73 17.46 22.67 23.20 23.20 35.54 ¥0.79 32.85 7.62 26.79 10.50 26.58 0.51 28.08 1.78 29.74 6.17 26.94 ¥1.46 24.80 ¥7.23 23.77 (5) 19.64 0.18 22.53 (5) 16.68 (5) 18.28 ¥0.98 15.59 ¥1.79 17.43 .......................... 20.60 .......................... 27.41 25.09 20.12 16.60 0.18 ¥3.49 ¥6.16 ¥6.16 2.40 4.65 ¥6.70 ¥5.47 ¥1.78 3.55 4.94 9.67 1.57 2.00 7.86 2.70 7.54 4.52 2.79 2.87 9.77 5.91 3.08 ¥0.44 ¥2,752 ¥4,418 ¥6,149 ¥2,269 ¥1,682 ¥1,576 ¥2,091 ¥5,257 ¥8,107 ¥13,326 ¥4,241 ¥2,031 ¥5,815 ¥44,325 ¥21,619 20,130 ¥316 ¥5,685 ¥2,468 ¥229 54,783 262,522 261,206 12,939 49,294 139,672 52,672 41,444 28,603 28,680 99,368 23,856 32,293 32,146 155,974 20,130 565 ¥9,817 ¥3,085 ¥129 13,356 143,880 98,834 ¥26,914 3,652 77,662 19,384 17,445 13,952 16,176 38,416 15,417 30,442 30,335 157,270 18,893 1,015 11,999 ¥2,209 ¥115 577,587 1,213,657 3,143,430 955,543 664,518 832,786 550,901 688,195 726,791 687,040 782,220 549,390 481,635 1,164,261 5,874,434 685,580 10,674 427,952 89,542 1,788 0.23 ¥1.78 10.96 2.89 0.96 ¥0.58 8.37 3.50 ¥3.04 15.85 11.58 ¥5.14 5.27 ¥2.36 ¥5.36 ¥7.67 ¥15.89 ¥16.91 ¥5.91 ¥10.20 ¥14.74 ¥20.13 ¥4.90 ¥58.27 (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) (5) 5.04 ¥0.58 ¥16.32 ¥10.56 ¥16.85 ¥17.49 ¥14.28 ¥13.70 ¥11.70 ¥35.98 ¥16.48 ¥63.41 ¥7,855 3,432 ¥27,968 ¥39,956 ¥41,134 ¥26,806 ¥2,234 ¥19,748 ¥9,469 ¥13,569 ¥796 ¥27,449 30,371 ¥96,284 ¥666,081 ¥300,795 ¥353,687 ¥165,729 ¥20,136 ¥163,924 ¥44,439 ¥197,134 ¥20,666 ¥42,190 35,521 ¥98,446 ¥650,035 ¥279,896 ¥333,845 ¥153,370 ¥19,187 ¥155,994 ¥41,056 ¥193,536 ¥20,479 ¥36,600 593,028 1,514,620 2,797,632 2,638,594 1,635,149 1,022,382 95,413 977,657 434,227 540,005 143,073 47,919 12.56 50.00 65.78 ¥1.24 (5) (5) 53.22 .......................... ¥51.24 .......................... 6,000,736 ¥46,368 4,977,247 ¥42,731 8,984,729 83,394 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 F Block FY 1998 ..................................................................................................... SMR/MDS FY 1996 ..................................................................................................... Multi-auction FY 1995 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2002 ..................................................................................................... 12.00 0.74 58.81 24.10 5.89 8.25 8.25 15.37 0.88 13.09 79.93 ¥35.77 0.79 ¥56.97 17.15 ¥1.53 (5) (5) (5) (5) (5) (5) (5) (5) ¥11.12 .......................... 12.35 .......................... 21.12 ¥59.87 ¥5.10 ¥65.22 8.90 ¥16.90 .......................... .......................... .......................... .......................... .......................... .......................... ¥66,554 18,009 77,374 ¥367,662 ¥359 ¥2,425 157 ¥256 ¥61,104 14,891 44,112 ¥310,397 ¥265 ¥1,527 107 ¥231 14,165 120,190 210,177 520,806 5,488 2,340 1,137 1,369 * Nonzero amount rounds to zero, based on units for this column. 1 Reestimates for some programs did not appear in the 2009 Appendix because they were less than $500,000. 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 Includes the Stafford, PLUS, and Consolidation loan programs. 7 Cohort is closed as of the end of 2007. 8 The $30.8 million downward reestimate and current reestimated rate is the result of loan sale proceeds for all direct business loans during 1998 being deposited into this single cohort. 44 Table 8.—LOAN GUARANTEES: SUBSIDY REESTIMATES 1 (In percentages, unless noted otherwise) Characteristics of Subsidy Reestimates Agency, Bureau, Program, Risk Category, and Cohort Year Current Reestimated Rate Percentage point change due to interest rates Percentage point change due to technical assumptions Current reestimate amount 2 ($ 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 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ 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 4.48 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 0.38 ¥1.19 4.57 3.44 1.17 ¥0.41 ¥0.78 0.40 ¥0.87 ¥1.23 ¥0.16 ¥0.12 0.30 0.69 ¥165.58 ¥15.19 ¥88.40 ¥110.10 ¥10.81 ¥0.68 ¥1.18 ¥3.37 ¥4.94 0.73 0.20 ¥0.33 ¥14.77 2.57 2.55 0.48 1.96 17.34 1.92 2.15 2.90 ¥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 0.01 ¥0.48 ¥5.32 ¥1.91 ¥2.56 ¥1.82 ¥2.18 ¥5.89 ¥6.31 ¥2.25 (4) (4) (4) (4) (4) (4) 1.36 ¥12.27 2.13 0.94 1.83 3.35 ¥0.85 ¥1.22 4.54 3.39 1.19 ¥0.33 ¥0.64 0.25 ¥0.87 ¥3.30 ¥2.78 ¥4.23 ¥2.62 ¥3.80 ¥166.96 ¥15.52 ¥88.41 ¥110.28 ¥11.49 ¥0.86 ¥0.78 ¥2.97 ¥4.94 ¥0.76 ¥1.37 ¥3.20 ¥15.30 2.31 1.60 ¥0.73 ¥0.01 13.67 ¥0.57 ¥0.99 ¥0.93 29,893 28,237 ¥26,639 ¥46,907 ¥5,585 ¥3,494 ¥101 ¥45,051 ¥1,490 ¥4,487 ¥33,276 ¥39,516 ¥37,463 ¥20,895 1,506 2,148 * ¥5 ¥15 ¥16 ¥157 ¥239 ¥80 * 2 ¥76 * ¥44 ¥1,037 ¥392 ¥53,414 3,620 7,234 63 361 ¥472,105 ¥251,299 ¥206,250 ¥234,953 ¥285,569 ¥182,873 ¥210,684 ¥224,081 ¥111,848 ¥122,875 ¥212,730 ¥133,530 ¥55,788 ¥20,895 ¥279,974 ¥82,782 ¥210,510 ¥99,044 ¥9,989 ¥1,800 ¥2,997 ¥4,632 ¥552 13 ¥75 ¥709 2,942 7,569 14,019 6,928 ¥75,984 97,963 9,680 9,736 29,220 ¥233,505 ¥168,942 ¥161,148 ¥167,599 ¥231,684 ¥146,529 ¥184,246 ¥174,840 ¥94,219 ¥115,466 ¥201,491 ¥125,908 ¥52,687 ¥19,946 ¥128,281 ¥44,299 ¥131,524 ¥66,772 ¥7,255 ¥1,223 ¥2,297 ¥3,883 ¥515 4 ¥98 ¥168 2,429 6,966 13,885 6,804 ¥74,186 92,368 5,363 5,683 22,942 5,393,167 3,414,926 2,827,774 2,581,481 3,658,828 2,736,683 2,765,987 2,758,061 2,748,183 2,383,307 2,620,976 2,104,115 1,288,337 856,612 78,971 226,929 147,236 59,832 55,221 41,953 34,986 42,312 7,455 4,508 19,746 49,509 107,545 257,235 475,318 786,657 1,048,400 577,933 943,920 861,863 1,054,565 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 3.47 2.50 2.32 2.60 2.35 2.11 2.16 0.25 ¥0.04 ¥0.06 0.02 ¥0.04 0.03 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 0.05 ¥4.45 ¥4.38 ¥3.35 ¥2.96 ¥3.32 ¥3.42 ¥3.42 ¥1.14 ¥0.11 ¥0.03 0.08 ¥0.05 ¥0.03 Percentage point change due to technical assumptions ¥0.53 ¥0.62 ¥0.75 ¥1.14 ¥1.95 ¥1.26 ¥1.57 ¥1.51 ¥1.77 ¥1.62 ¥1.10 ¥0.83 ¥0.57 ¥1.01 ¥1.40 ¥1.69 ¥1.28 ¥1.45 ¥1.36 ¥1.89 ¥2.36 ¥2.41 ¥2.89 ¥2.58 0.37 ¥0.16 ¥1.01 ¥0.40 1.46 ¥0.15 0.03 ¥0.06 ¥0.01 0.22 0.16 0.23 ¥0.06 ¥0.25 ¥0.25 ¥0.41 ¥0.81 ¥0.36 Current reestimate amount 2 ($ thousands) ¥6,102 ¥846 781 517 769 2,680 ¥591 373 ¥4,395 ¥6,218 ¥3,982 108 ¥16,760 ¥1,445 2,010 677 ¥712 ¥33 ¥1,444 ¥892 ¥2,030 ¥5,130 ¥3,085 ¥5,195 ¥4,522 ¥2,146 ¥631 2,542 17,210 ¥3,362 ¥2,586 ¥1,326 3,874 ¥2,226 ¥1,418 ¥737 140 ¥371 ¥698 ¥484 ¥2,583 ¥3,295 Net lifetime reestimate amount 3 ($ thousands) 36,297 24,078 14,293 11,200 2,160 8,712 4,189 ¥14,072 ¥18,983 ¥16,917 ¥9,918 ¥8,187 ¥16,760 3,518 6,113 1,645 ¥971 4,495 4,827 4,175 9,766 7,103 9,796 ¥14,640 ¥1,683 ¥2,424 ¥2,923 ¥1,387 17,210 ¥28,982 ¥25,689 ¥24,986 ¥16,929 ¥21,625 ¥20,591 ¥14,734 ¥9,636 ¥4,308 ¥3,091 ¥4,163 ¥11,334 ¥4,720 Net lifetime reestimate amount, excluding interest ($ thousands) 27,314 21,114 12,603 10,832 5,075 8,418 5,938 ¥12,994 ¥17,869 ¥15,596 ¥9,356 ¥7,934 ¥16,001 3,625 4,355 1,092 ¥974 4,809 5,948 5,533 13,572 14,960 12,756 ¥9,382 912 ¥1,766 ¥2,828 ¥1,598 16,431 ¥20,480 ¥19,063 ¥17,965 ¥13,138 ¥16,838 ¥17,335 ¥13,500 ¥9,054 ¥3,076 ¥2,366 ¥3,464 ¥10,160 ¥4,125 Total disbursements to date ($ thousands) 1,170,902 1,103,702 809,779 740,124 1,228,124 981,962 988,695 1,038,717 999,187 940,931 874,800 925,081 806,110 149,638 137,570 230,826 188,550 189,682 214,367 255,963 521,298 794,754 463,317 492,571 412,240 269,098 281,956 269,303 264,314 440,842 436,497 532,104 543,561 521,502 513,989 415,760 749,603 850,064 833,986 1,069,330 1,193,556 1,073,125 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 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ 0.49 1.11 1.10 1.17 1.16 1.41 1.37 3.51 3.17 3.33 3.23 3.03 2.47 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 10.07 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 3.43 2.99 2.67 2.63 1.56 2.26 1.96 2.25 1.36 1.65 2.15 2.16 1.93 10.55 11.52 11.84 11.82 11.67 11.91 11.83 11.35 10.76 10.92 11.68 12.08 12.14 12.32 11.95 11.58 0.29 0.23 0.41 0.74 0.64 0.43 0.67 0.39 0.20 0.23 0.12 ¥0.11 0.15 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 ¥0.19 ¥0.12 ¥0.52 5.53 ¥2.25 ¥3.05 Current reestimate amount 2 ($ thousands) ¥739 1,421 ¥3,605 8 3 ¥2 Net lifetime reestimate amount 3 ($ thousands) ¥2,108 ¥1,191 ¥3,605 32 ¥4 ¥37 Net lifetime reestimate amount, excluding interest ($ thousands) ¥1,927 ¥1,203 ¥3,440 24 ¥3 ¥24 Total disbursements to date ($ thousands) 997,363 909,481 677,485 427 191 832 Original Subsidy Rate FY 2005 FY 2006 FY 2007 Guaranteed FY 1992 FY 1993 FY 1994 ................................................................................................ ................................................................................................ ................................................................................................ Soil and Water ................................................................................................ ................................................................................................ ................................................................................................ 0.53 0.48 0.58 1.94 3.12 2.15 0.34 .......................... 0.35 ¥0.01 0.07 0.01 7.47 0.87 ¥0.90 (4) (4) (4) Rural Utilities Service: Water and Waste Disposal Loan Guarantees FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Electric Loan Guarantees FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... Rural Housing Service: Community Facility Loan Guarantees FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... ¥0.61 ¥0.72 ¥1.15 ¥1.18 ¥1.09 ¥1.90 ¥1.08 ¥0.83 ¥1.50 ¥0.80 ¥0.81 ¥0.90 ¥0.90 ¥0.90 ¥0.90 .......................... 0.01 0.01 ¥0.80 ¥0.80 ¥0.79 ¥0.80 ¥0.80 ¥0.80 ¥0.83 ¥0.80 ¥0.81 ¥0.83 ¥0.90 ¥0.87 ¥0.90 (5) ¥0.90 ¥0.20 0.01 .......................... ¥17 1 3,843 ¥0.05 ¥0.03 .......................... * 1 809 0.35 0.01 .......................... 29 15 3,591 ¥2.25 2.63 .......................... 53 32 8,460 ¥2.32 2.61 .......................... 10 6 2,188 ¥1.29 2.39 .......................... 167 152 14,019 ¥3.31 3.56 .......................... 11 16 5,864 2.46 ¥2.43 13 ¥3 ¥2 4,777 ¥0.45 1.14 .......................... 34 31 4,747 .......................... ¥0.03 1 ¥1 ¥1 2,119 .......................... ¥0.09 .......................... ¥3 ¥3 3,542 .......................... 0.03 3 3 3 6,683 .......................... .......................... * * * 2,343 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... * * * 151 0.03 0.04 0.05 ¥31 ¥12 ¥6 48 17 31 55 19 30 145,911 52,259 51,717 0.04 0.01 0.05 .......................... 0.06 .......................... ¥0.19 ¥0.42 4.98 4.94 4.76 0.41 0.40 ¥0.54 ¥0.54 ¥0.54 ¥0.68 ¥0.54 ¥0.80 ¥0.79 4.19 ¥0.80 ¥0.35 8.28 5.09 1.12 2.39 4.25 3.84 5.40 0.17 ¥0.26 ¥5.02 ¥3.73 ¥2.92 ¥1.02 ¥1.01 ¥0.10 ¥0.10 ¥0.28 0.01 0.01 ¥0.78 .......................... ¥0.11 .......................... 4.23 213 ¥2.01 .......................... ¥2.19 34 8.89 ¥879 5.70 ¥180 1.76 ¥3,476 3.03 ¥987 5.07 ¥1,279 4.51 355 5.93 1,346 ¥183 ¥376 ¥30 ¥3,579 ¥2,741 4,928 3,474 1,933 2,754 5,098 4,479 8,888 ¥65 ¥175 ¥342 ¥2,755 ¥2,183 3,244 2,589 1,430 2,099 4,962 4,023 8,238 21,251 45,691 27,237 43,088 36,832 43,111 56,536 76,665 71,089 103,072 91,207 138,082 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 3.19 2.98 2.95 0.11 Current reestimate amount 2 ($ thousands) ¥464 1,609 1,604 ¥62 Net lifetime reestimate amount 3 ($ thousands) 5,838 4,082 1,919 ¥62 Net lifetime reestimate amount, excluding interest ($ thousands) 5,314 3,676 1,753 ¥59 Total disbursements to date ($ thousands) 138,080 103,572 57,962 5,596 Original Subsidy Rate FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Rural Housing Insurance Fund: Guaranteed 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 ................................................................................................ FY 2007 ................................................................................................ Guaranteed 502, Refinance FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Guaranteed 538 Multi-Family Housing FY 1996 ................................................................................................ FY 1997 ................................................................................................ FY 1998 ................................................................................................ FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ ¥0.60 0.09 0.36 0.36 2.59 .......................... 3.05 ¥0.02 3.30 ¥0.01 3.12 2.65 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 0.21 0.20 1.28 0.18 0.29 0.27 0.29 0.50 6.10 3.09 3.00 3.10 0.48 3.93 4.50 5.95 3.49 5.42 7.74 0.54 0.78 1.36 2.91 2.86 2.70 2.26 2.41 3.04 1.81 1.54 1.72 1.82 1.50 1.25 1.29 0.01 0.02 ¥0.40 ¥0.01 0.01 ¥0.01 0.02 0.02 0.01 1.23 0.21 0.20 0.04 0.02 ¥0.03 1.01 ¥0.60 ¥1.09 0.08 1.28 2.65 2.48 2.01 2.30 2.42 0.38 0.05 0.30 0.46 0.41 0.12 0.07 ¥0.13 ¥0.02 1.59 1.56 1.44 1.46 1.22 ¥328 ¥579 ¥999 ¥473 1,715 ¥17 289 126 451 ¥1,718 ¥3,644 ¥11,500 ¥7,388 2,214 4,706 1,187 157 833 2,717 434 213 38 ¥25 ¥1,955 ¥7,221 ¥2,843 19,144 55,648 56,447 62,637 78,174 60,247 42,436 4,915 11,619 8,697 11,664 4,706 1,187 54 ¥583 4,392 845 352 55 ¥25 ¥1,266 ¥5,388 ¥2,269 12,465 43,048 46,971 54,292 65,931 48,843 34,751 4,937 12,909 9,220 10,453 3,618 1,132 4 ¥569 3,865 752 320 50 ¥24 200,567 508,495 706,124 1,007,381 1,624,458 1,908,314 2,699,183 2,861,858 2,088,546 2,303,114 2,262,452 2,805,254 3,131,166 2,976,100 3,008,743 2,897,644 9,760 72,953 230,605 49,128 22,773 3,574 5,314 0.30 0.23 1.46 0.20 1.90 0.13 1.86 0.01 1.71 .......................... 1.75 .......................... 1.73 0.01 14.39 ¥0.34 8.63 3.23 2.29 ¥2.15 4.86 ¥2.35 4.21 7.11 0.48 3.53 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) .......................... .......................... (5) .......................... .......................... .......................... 406 267 3,226 .......................... 49 6 4,100 .......................... 16 13 700 .......................... 642 481 11,985 .......................... 487 412 12,965 .......................... 6,755 5,996 78,171 .......................... 2,376 2,141 40,181 .......................... 4,076 3,762 63,025 .......................... 451 430 24,152 .......................... .......................... .......................... 3,400 .......................... .......................... .......................... .......................... 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 Rural Business Cooperative Services: Business and Industry Loan Guarantees 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 ..................................................................................................... FY 2007 ..................................................................................................... NAD Bank Loan Guarantees FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Renewable Energy Loan Guarantees FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... Rural Business Investment Program FY 2006 ..................................................................................................... Department of Commerce Office of Departmental Management: Emergency Steel Loan Guarantee Program FY 2001 ................................................................................................ FY 2003 ................................................................................................ Emergency Oil & Gas Loan Guarantee Program FY 2002 ................................................................................................ 5.87 5.45 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 4.36 1.09 1.04 0.96 3.28 0.82 3.68 4.56 2.94 8.30 9.47 9.15 5.73 6.45 6.49 7.72 4.61 ¥0.54 ¥0.72 273 754 ¥1,569 82,995 ¥0.35 0.23 ¥6.04 1,558 ¥12,202 ¥9,315 160,955 5.19 .......................... 4.26 3,373 14,815 8,240 201,241 3.40 ¥0.01 2.47 1,729 11,172 7,576 335,179 4.40 ¥0.44 3.92 159 22,994 17,740 520,397 6.51 ¥0.49 6.07 ¥695 45,778 38,954 696,477 3.64 ¥0.43 3.10 1,355 33,353 24,745 959,441 6.95 ¥0.48 6.41 ¥1,358 70,148 55,376 985,760 6.43 ¥0.92 4.24 ¥4,670 30,252 22,948 778,802 6.70 ¥0.75 6.59 ¥9,733 55,095 49,207 875,918 3.55 0.34 ¥0.53 ¥8,548 ¥4,383 ¥2,413 723,107 5.43 0.10 1.36 ¥264 10,660 9,565 745,374 5.71 ¥0.09 0.94 1,598 6,591 5,185 828,412 5.98 ¥0.24 1.19 2,315 4,558 3,050 506,525 3.88 0.05 ¥0.53 ¥5,772 ¥5,772 ¥6,015 485,440 (5) .......................... .......................... .......................... .......................... .......................... .......................... ¥1.57 0.16 ¥2.82 ¥2 ¥38 ¥25 904 9.68 ¥0.20 8.84 ¥7,338 3,213 5,640 66,629 18.81 ¥0.31 18.16 ¥7,727 10,346 10,955 59,284 17.05 ¥0.66 14.43 ¥2,417 3,801 8,320 45,113 16.85 ¥0.68 16.71 ¥5,672 3,706 4,303 27,956 4.23 0.59 ¥0.04 73 125 8 2,130 5.05 0.17 0.32 ¥308 3 235 4,560 6.94 0.06 3.94 ¥827 117 534 5,187 7.38 2.04 ¥2.96 ¥50 ¥50 ¥52 3,000 (5) .......................... .......................... .......................... .......................... .......................... .......................... (5) .......................... .......................... .......................... .......................... .......................... .......................... 11.06 11.66 7.34 ¥0.14 ¥1.62 ¥1.66 5.47 6.83 2.51 24 47 ¥* 24 47 ¥* 3 14 ¥* 65 377 40 (5) .......................... .......................... .......................... .......................... .......................... .......................... 11.68 27.69 42.03 ¥7.34 20.33 6¥0.50 ¥0.70 0.30 1.40 ¥18.32 ¥7.66 ¥43.93 2,277 462 ¥266 ¥28,292 ¥9,150 ¥735 ¥20,225 ¥6,996 ¥638 110,000 250,000 1,500 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) Total disbursements to date ($ thousands) Original Subsidy Rate 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: Family Housing Improvement Fund Guaranteed Loans FY 1998 ..................................................................................................... FY 2000 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2005 ..................................................................................................... Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments 7 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 ................................................................................................ 1.00 1.00 1.00 1.00 5.00 5.00 8.16 1.32 ¥0.39 ¥4.69 ¥4.69 ¥4.73 ¥0.13 ¥0.16 ¥0.18 0.01 ¥0.15 ¥0.09 7.29 0.48 ¥1.21 ¥5.70 ¥9.54 ¥9.64 2,080 256 ¥1,006 ¥7 3 ¥4 7,015 788 503 ¥1,358 ¥771 ¥1,325 3,426 94 ¥736 ¥1,110 ¥594 ¥998 46,951 32,057 24,649 19,656 6,186 10,273 0.96 3.19 3.34 3.37 71.67 ¥0.42 82.13 2.72 4.63 ¥3.19 1.41 0.14 66.08 ¥0.42 77.38 ¥0.79 12,072 ¥58 14,557 ¥32 12,072 ¥58 14,557 ¥32 6,870 ¥58 12,832 ¥32 10,000 1,600 16,500 3,434 6.26 6.79 5.55 5.63 6.27 3.30 2.34 3.48 4.26 5.58 0.13 ¥0.24 0.24 0.09 ¥0.07 ¥3.09 ¥4.21 ¥2.31 ¥1.46 ¥0.62 ¥309 623 17 335 ¥878 ¥1,373 ¥9,089 ¥1,216 ¥303 ¥968 ¥790 ¥6,074 ¥1,193 ¥631 ¥1,136 29,385 172,635 64,600 74,000 165,000 14.66 13.48 11.93 15.03 12.83 12.71 8.83 12.34 14.20 8.68 8.84 9.58 11.61 14.26 12.32 12.45 11.84 10.22 9.49 9.54 9.02 7.35 5.72 6.47 10.99 13.42 (4) (4) (4) (4) (4) (4) (4) 0.04 ¥0.10 0.29 ¥0.31 ¥0.04 0.09 ¥0.40 ¥1.16 0.52 ¥3.19 ¥2.61 ¥3.22 0.71 ¥3.36 ¥6.75 ¥3.25 ¥2.06 1.45 1.72 299,037 339,958 ¥176,709 1,059,805 269,963 181,360 122,502 179,728 141,481 252,483 ¥42,592 5,545 ¥24,379 ¥269,580 ¥311,189 ¥198,964 163,971 ¥458,854 ¥790,660 95,490 ¥930,403 ¥1,844,662 ¥919,843 ¥779,028 1,377,977 619,240 ¥470,158 ¥522,812 ¥91,416 ¥460,304 ¥604,563 ¥881,395 42,697 ¥1,002,569 ¥1,898,638 ¥993,011 ¥769,597 1,377,274 622,300 14,496,270 17,470,571 22,626,266 21,965,731 21,853,187 23,223,901 23,310,682 25,480,637 29,263,566 34,229,088 51,507,778 69,057,709 75,309,613 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 3.31 0.88 0.74 Current reestimate amount 2 ($ thousands) ¥1,384,870 ¥827,677 594,317 Net lifetime reestimate amount 3 ($ thousands) 3,235,258 ¥1,180,320 594,317 Net lifetime reestimate amount, excluding interest ($ thousands) 3,415,929 ¥1,106,526 567,313 Total disbursements to date ($ thousands) 97,847,395 119,218,880 79,542,174 Original Subsidy Rate FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ 11.26 12.98 6.27 14.82 0.25 12.91 ¥0.95 7.01 .......................... 0.71 0.43 4.08 3.49 3.52 3.57 3.50 3.42 10.32 9.06 8.87 7.78 0.06 0.34 1.20 .......................... .......................... .......................... 10.67 15.76 16.48 0.77 ¥2.92 ¥0.49 2.47 0.91 2.63 3.77 6.63 ¥4.02 ¥3.68 1.67 1.49 1.03 0.99 0.88 4.42 4.98 5.72 7.29 8.32 11.20 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) ¥1.68 0.06 ¥3.05 ¥4.57 ¥1.02 ¥2.61 ¥0.94 0.22 3.21 ¥14.34 ¥12.74 ¥7.20 ¥6.29 0.97 0.65 ¥0.32 4.42 4.98 5.72 ¥3.38 ¥7.44 ¥3.60 ¥20 ¥198 ¥23 ¥93 ¥85 ¥149 24 ¥120 ¥577 ¥893 ¥1,037 ¥1,184 ¥2,066 ¥515 ¥2,140 ¥2,190 ¥456 ¥1,229 ¥3,498 ¥1,882 ¥1,160 ¥10 ¥251 ¥25 ¥52 ¥104 ¥164 24 ¥120 ¥108,921 ¥90,829 ¥40,122 ¥20,254 6,354 4,011 2,416 12,633 6,392 8,764 ¥6,123 ¥10,422 ¥21,122 2 ¥201 ¥24 ¥43 ¥97 ¥155 16 ¥116 ¥41,914 ¥42,790 ¥13,764 ¥12,466 4,911 3,198 2,165 11,627 6,092 8,733 ¥5,850 ¥9,079 ¥19,217 718 4,831 500 4,422 3,680 16,442 6,125 13,186 290,675 340,752 587,951 616,250 464,112 350,542 331,270 252,495 116,608 150,489 174,733 78,857 45,693 8.13 8.13 8.13 8.13 8.13 8.13 8.13 8.13 2.47 2.43 ¥5.28 ¥5.59 ¥1.02 ¥1.07 ¥3.06 0.40 0.22 0.14 0.97 1.43 (4) (4) (4) (4) (4) (4) (4) (4) 0.15 0.30 ¥13.41 ¥13.72 ¥9.15 ¥9.20 ¥11.19 ¥7.73 ¥7.91 ¥7.99 ¥1.65 ¥1.30 ¥205 ¥1 ¥3 ¥13 ¥7 ¥8 ¥7 ¥39 ¥41 ¥46 ¥56 ¥475 ¥1,794 ¥2,693 ¥1,934 ¥1,030 ¥1,227 ¥998 ¥444 ¥412 ¥29 ¥470 ¥2,468 ¥3,709 ¥2,391 ¥1,634 ¥1,946 ¥1,416 ¥484 ¥419 192 1,965 14,358 22,587 13,458 11,887 14,340 12,007 26,262 39,261 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 0.05 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) Percentage point change due to technical assumptions ¥1.01 ¥0.83 ¥0.74 ¥2.17 ¥4.40 ¥6.64 ¥4.97 ¥0.85 2.35 3.35 ¥0.42 ¥11.04 Current reestimate amount 2 ($ thousands) 37 ¥168 ¥1,736 ¥3,602 ¥75 ¥65 ¥568 ¥67 ¥215 ¥41 ¥1,626 ¥762 Net lifetime reestimate amount 3 ($ thousands) ¥533 ¥819 ¥1,381 ¥3,602 ¥408 ¥642 ¥3,306 ¥135 195 3 ¥115 ¥762 Net lifetime reestimate amount, excluding interest ($ thousands) ¥528 ¥759 ¥1,215 ¥3,428 ¥301 ¥540 ¥4,001 ¥13 268 74 34 ¥725 Total disbursements to date ($ thousands) 60,688 93,009 175,407 178,159 6,996 7,696 51,792 8,107 10,203 4,493 13,338 6,737 43,000 Original Subsidy Rate FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Title VI Indian Housing Guarantees FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ Native Hawaiian Housing Loan Guarantees FY 2007 ................................................................................................ 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 ................................................................................................ FY 2007 ................................................................................................ 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 ................................................................................................ 2.73 2.58 2.42 2.35 11.07 11.07 11.07 11.07 10.56 10.32 12.26 11.99 2.35 1.77 1.75 1.68 0.18 6.67 4.43 6.10 10.22 12.91 13.67 11.84 0.95 (5) .......................... .......................... .......................... .......................... .......................... 2.10 2.30 2.30 2.30 2.30 2.30 2.30 2.30 2.30 2.30 2.20 2.17 0.55 0.74 1.60 2.07 2.32 2.11 3.44 3.63 3.69 5.04 4.51 4.69 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) ¥1.55 ¥1.56 ¥0.70 ¥0.23 0.02 ¥0.19 1.14 1.33 1.39 2.74 2.31 2.52 ¥40 ¥366 ¥627 ¥154 ¥224 14 ¥922 ¥775 ¥76 1,992 1,632 148 ¥6,064 ¥4,921 ¥2,721 ¥1,116 ¥17 ¥616 2,160 4,354 3,887 7,536 3,182 148 ¥4,152 ¥3,162 ¥1,876 ¥627 109 ¥329 3,034 4,233 3,543 6,988 2,971 144 273,405 211,118 277,198 293,147 300,048 188,973 259,968 262,272 190,088 181,691 99,418 5,859 0.46 1.65 .......................... 0.39 .......................... ¥0.02 0.14 0.03 1.31 ¥0.14 ¥1.53 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥164,286 11,520 23,801 ¥42,075 4,189 469 111 ¥25,099 ¥7,643 ¥82,574 ¥91,188 ¥308,876 ¥259,543 ¥549,887 ¥40,306 366,572 ¥661,007 ¥183,435 ¥112,854 ¥242,800 ¥131,934 52,809 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 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) ¥96,463 ¥180,252 ¥62,221 ¥145,198 261,194 Net lifetime reestimate amount 3 ($ thousands) ¥124,616 ¥264,333 ¥296,958 ¥35,924 261,194 Net lifetime reestimate amount, excluding interest ($ thousands) .......................... .......................... .......................... .......................... .......................... Total disbursements to date ($ thousands) .......................... .......................... .......................... .......................... .......................... Original Subsidy Rate FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ FHA Mutual Mortgage Insurance Fund: Mutual Mortgage 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 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ 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 ..................................................................................................... FY 2007 ..................................................................................................... ¥1.02 ¥1.00 ¥0.34 ¥0.70 ¥2.46 .......................... .......................... .......................... .......................... .......................... ¥2.60 ¥2.70 ¥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 ¥0.37 ¥3.19 ¥2.66 ¥1.81 ¥0.79 ¥1.13 ¥1.12 ¥1.62 ¥1.54 ¥0.15 ¥0.43 ¥0.39 ¥0.61 ¥0.80 0.06 1.02 1.99 ¥0.82 ¥0.16 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 0.37 0.23 0.20 0.22 0.17 0.22 0.42 0.19 0.17 0.15 0.18 0.27 0.39 0.69 0.89 1.20 1.99 31,557 25,655 56,928 9,483 ¥4,781 7,028 25,296 71,531 62,182 147,269 322,562 426,919 759,454 526,502 694,297 1,388,289 ¥165,894 210,994 1,515,502 843,209 1,749,422 1,976,690 1,507,243 1,468,366 1,897,235 2,421,806 2,440,758 2,343,914 1,842,583 1,098,863 1,464,086 1,388,289 ¥248,678 10,840 931,164 580,443 1,443,541 1,554,280 1,176,864 1,131,960 1,456,258 1,951,039 2,094,315 2,142,495 1,715,234 1,064,794 1,388,040 1,327,109 43,436,966 71,620,338 82,367,121 40,997,968 64,199,785 67,016,474 93,255,810 111,807,782 84,858,576 121,642,414 131,415,258 115,979,735 107,616,910 57,971,792 51,765,426 56,509,219 .......................... .......................... .......................... .......................... .......................... .......................... ¥0.32 ¥0.42 ¥0.29 ¥0.36 ¥0.33 ¥0.33 ¥0.27 ¥0.23 ¥0.23 ¥0.21 (5) (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 85,071,000 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) Total disbursements to date ($ thousands) Original Subsidy Rate Department of the Interior Bureau of Indian Affairs: Indian Guaranteed 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 ..................................................................................................... FY 2007 ..................................................................................................... Department of Transportation Office of the Secretary: Minority Business Resource Center Loan Guarantees FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... 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 ................................................................................................ 6.73 11.69 12.73 18.73 12.53 13.00 13.00 7.54 7.54 6.73 6.00 6.91 6.13 6.76 4.75 6.45 5.05 (4) 21.84 (4) 2.63 (4) 4.23 (4) 7.44 (4) 10.25 (4) 2.50 (4) 6.56 (4) 6.73 (4) 4.52 0.51 6.40 0.29 7.44 0.37 7.80 ¥0.02 7.55 .......................... 7.59 .......................... 7.68 .......................... ¥1.68 10.15 ¥10.10 ¥14.50 ¥5.09 ¥2.75 ¥10.50 ¥0.98 ¥0.81 ¥2.72 0.11 0.16 1.69 0.79 2.84 1.23 1,066 ¥33,187 ¥6,963 ¥5,940 ¥435 ¥927 96 543 ¥2,786 ¥934 ¥7,245 ¥4,731 ¥6,069 1,485 3,349 1,694 ¥1,252 ¥35,593 ¥14,513 ¥12,800 ¥1,457 ¥440 ¥2,046 ¥450 ¥766 ¥698 ¥117 ¥48 827 1,566 3,355 1,694 ¥755 ¥14,970 ¥8,346 ¥7,425 ¥1,042 ¥362 ¥1,761 ¥618 ¥294 ¥657 308 185 1,142 1,431 3,081 1,612 48,990 57,501 59,090 38,085 15,818 13,447 17,019 46,810 53,928 44,247 53,034 56,745 75,193 48,349 86,338 31,891 2.69 2.53 2.08 1.85 1.82 61.50 0.12 ¥1.31 ¥22 ¥137 ¥104 3.77 0.05 1.19 ¥4 109 105 (6) ¥0.03 ¥2.05 ¥157 ¥157 ¥144 3.25 ¥0.03 1.43 30 30 28 (5) .......................... .......................... .......................... .......................... .......................... 7,896 8,611 7,115 2,015 3,415 1.69 9.88 9.88 6.76 8.66 5.47 4.26 6.47 4.60 5.62 6.20 6.06 ¥3.39 ¥3.64 ¥0.31 6.33 20.53 ¥1.93 16.57 8.04 4.55 2.86 1.80 ¥0.93 ¥0.03 (4) (4) (4) 0.59 0.17 0.28 ¥1.29 0.65 0.36 1.20 ¥0.03 ¥5.05 ¥13.52 ¥10.19 ¥0.43 11.28 ¥7.57 12.03 2.86 ¥0.70 ¥3.12 ¥5.60 ¥6.96 ¥616 ¥6,400 ¥8,578 ¥14,964 ¥8,411 ¥7,377 ¥27,176 ¥12,998 ¥4,182 ¥4,383 ¥5,904 ¥1,605 ¥3,317 ¥33,594 ¥49,962 ¥19,441 15,394 ¥51,549 104,605 ¥12,185 ¥3,937 ¥7,551 ¥15,572 ¥13,124 ¥2,161 ¥20,924 ¥31,527 ¥458 20,803 ¥36,720 112,487 ¥1,512 ¥234 ¥5,746 ¥13,306 ¥11,908 47,394 148,643 312,401 713,592 170,657 502,434 869,610 787,975 690,791 225,347 305,356 173,654 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 ¥2.80 Current reestimate amount 2 ($ thousands) ¥3,807 Net lifetime reestimate amount 3 ($ thousands) ¥3,807 Net lifetime reestimate amount, excluding interest ($ thousands) ¥3,261 Total disbursements to date ($ thousands) 86,380 Original Subsidy Rate FY 2005 ................................................................................................ 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 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... FY 2005 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... 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 ..................................................................................................... 26.06 23.26 .......................... 40.11 13.13 ¥8.93 6¥23.29 6¥7.5 6¥10.36 0.43 0.03 ¥0.49 ¥63.83 .......................... ¥15.86 .......................... ¥0.94 .......................... ¥212,332 234,466 ¥432 ¥196,344 227,658 ¥430 429,000 1,168,000 30,000 2.19 1.69 0.21 2.33 0.08 .......................... 1.36 ¥0.26 ¥0.02 1.18 ¥0.46 ¥0.21 1.56 ¥0.40 0.16 0.74 ¥0.79 ¥0.30 0.49 ¥0.33 0.01 0.45 ¥0.11 ¥0.03 0.68 ¥0.83 ¥0.05 0.29 ¥0.30 0.01 0.39 ¥0.38 0.05 0.81 0.09 0.19 0.50 .......................... ¥0.05 ¥0.32 ¥0.09 0.03 ¥0.32 ¥0.22 .......................... ¥0.36 ¥0.31 0.03 .......................... .......................... .......................... .......................... .......................... .......................... .......................... 5.69 5.45 5.21 5.05 5.06 5.65 1.89 3.79 5.68 5.57 5.28 1.30 ¥0.23 2.01 2.12 ¥0.44 ¥0.81 ¥3.09 ¥0.85 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... ¥0.08 0.02 0.28 0.30 0.11 ¥0.71 ¥2.25 ¥1.60 ¥1.43 ¥2.12 ¥1.23 ¥0.83 ¥0.53 ¥1.46 ¥0.60 ¥0.82 ¥0.91 ¥0.45 0.20 0.10 0.02 1.89 3.79 5.68 5.57 5.28 1.30 ¥0.23 ¥3.68 ¥3.25 ¥5.67 ¥6.14 ¥8.45 ¥6.61 108,546 ¥25,103 ¥70,263 ¥83,959 ¥124,925 ¥117,543 31,462 291,855 ¥3,453 ¥33,089 ¥36,973 ¥20,104 11,358 116,755 74,588 11,512 9,929 24,001 45,367 27,390 2,015 3,249 3,015 652 ¥8,708 ¥9,122 ¥12,189 ¥5,660 ¥8,501 ¥27,388 ¥1,123,151 ¥1,070,561 ¥581,755 ¥841,763 ¥615,148 ¥536,729 ¥349,460 ¥412,942 ¥289,986 ¥350,703 ¥506,894 ¥206,119 84,922 25,340 11,512 44,553 101,247 113,112 119,640 81,569 10,133 ¥11,331 ¥43,567 ¥62,073 ¥54,298 ¥62,688 ¥24,856 ¥20,614 ¥83,578 ¥751,495 ¥691,500 ¥360,919 ¥578,056 ¥383,032 ¥329,734 ¥245,079 ¥309,224 ¥187,570 ¥285,776 ¥461,148 ¥180,640 50,645 20,052 11,292 23,290 60,163 80,420 75,086 66,628 12,310 ¥2,072 ¥34,090 ¥46,952 ¥44,664 ¥55,784 ¥22,690 ¥19,017 26,473,457 44,040,055 44,630,046 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 24,135,638 23,920,681 24,186,118 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 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) Total disbursements to date ($ thousands) Original Subsidy Rate International Assistance Programs Agency for International Development: Micro and Small Enterprise Development Loan Guarantees FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ Development Credit Authority (DCA): Loan Guarantees FY 1999 ................................................................................................ FY 2000 ................................................................................................ FY 2001 ................................................................................................ FY 2002 ................................................................................................ FY 2003 ................................................................................................ FY 2004 ................................................................................................ FY 2005 ................................................................................................ FY 2006 ................................................................................................ FY 2007 ................................................................................................ 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 ..................................................................................................... 6.05 5.59 3.81 4.80 9.61 4.50 5.65 2.04 3.73 3.77 3.69 5.08 3.66 2.08 15.51 20.85 8.48 13.51 5.04 7.50 24.67 6.97 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 0.96 ¥0.74 ¥0.96 ¥3.63 ¥2.58 3.32 1.03 0.49 (4) (4) ¥8.41 .......................... ¥7.36 .......................... ¥5.26 277 ¥8.43 .......................... ¥12.19 ¥55 ¥1,208 ¥525 ¥417 ¥12 ¥21 ¥1,007 ¥344 ¥345 ¥11 ¥17 48,448 45,740 33,663 276 674 ¥5.70 ¥1.60 ¥8.60 ¥1,305 ¥6,897 ¥5,761 56,286 5.09 ¥1.47 0.91 ¥12 ¥152 ¥135 15,503 ¥0.10 ¥0.42 ¥1.72 ¥575 ¥584 ¥463 80,588 ¥1.34 ¥1.48 ¥3.59 38 ¥1,141 ¥980 54,243 2.71 (4) ¥1.06 463 952 803 137,244 3.95 (4) 0.26 1,932 3,187 2,855 137,154 2.59 (4) ¥2.49 243 336 311 73,193 3.28 (4) 0.38 1,343 1,486 1,377 43,030 (5) .......................... .......................... .......................... .......................... .......................... .......................... 27.76 11.80 2.12 11.00 6.51 7.12 29.64 ¥0.09 ¥0.23 0.39 ¥0.26 ¥0.27 ¥0.21 ¥0.59 ¥0.25 1.16 3.14 11.72 ¥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 17.81 ¥1.36 ¥3.48 ¥1.44 0.67 ¥0.38 4.97 0.82 ¥0.23 0.39 ¥0.26 ¥0.27 ¥0.21 ¥0.59 ¥1.38 1.28 2.56 11.14 ¥2,495 ¥6,597 ¥8,047 ¥17,681 ¥3,949 ¥1,501 ¥8,692 ¥733 ¥8,695 ¥6,888 ¥6,772 ¥5,771 ¥4,033 55 ¥1,105 ¥1,057 ¥633 ¥14,062 12,223 ¥17,462 ¥17,266 ¥9,792 ¥129 ¥877 ¥1,020 ¥1,779 ¥6,321 14,761 ¥3,886 ¥3,781 ¥413 ¥7,785 ¥3,048 23,765 24,633 9,144 8,547 ¥4,413 ¥6,273 ¥883 1,533 ¥1,385 916 ¥1,232 ¥5,078 6,053 ¥3,751 ¥5,319 ¥3,236 ¥9,034 ¥22,561 20,363 23,519 9,202 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 ¥8.68 (4) ¥9.20 10 ¥49,385 ¥26,975 272,702 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) Total disbursements to date ($ thousands) 308,878 647,388 1,011,636 792,384 654,387 60,000 564,865 260,900 374,994 517,589 1,100,616 1,169,181 322,303 337,841 393,842 215,994 15,000 116,000 72,350 100,000 Original Subsidy Rate 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 ..................................................................................................... FY 2007 ..................................................................................................... NIS Guaranteed Loans FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 2003 ..................................................................................................... FY 2004 ..................................................................................................... Small Business Administration General Business Loan Programs: 7(a) General Business Loan Guarantees 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 ..................................................................................................... FY 2007 ..................................................................................................... 7(a) General Business Loan Guarantees—DELTA FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... 1.92 2.45 1.91 3.72 0.32 ¥15.38 ¥12.18 ¥7.64 0.84 ¥6.43 ¥5.50 ¥2.41 ¥2.96 0.59 4.81 4.81 9.60 4.93 ¥5.95 ¥13.25 ¥9.17 ¥8.98 ¥0.38 ¥11.77 ¥0.02 17.37 ¥11.74 ¥7.47 ¥4.08 ¥11.78 ¥9.95 (5) (5) (5) ¥1.06 ¥4.06 ¥15.72 ¥11.55 ¥9.12 ¥11.90 (4) ¥11.09 ¥65,335 ¥74,776 ¥27,103 (4) ¥11.43 ¥429 ¥107,200 ¥76,274 (4) ¥2.29 ¥66,166 ¥93,114 ¥15,008 0.57 ¥16.06 ¥107,866 ¥178,898 ¥101,702 0.18 ¥0.52 6,323 ¥14,230 ¥7,492 ¥0.71 33.46 1,543 10,034 11,038 ¥0.09 0.53 ¥24,019 ¥94,634 ¥66,502 ¥0.22 0.39 ¥38,386 ¥14,341 ¥10,551 0.03 ¥4.89 ¥3,726 ¥22,326 ¥18,056 0.01 ¥5.36 ¥747 ¥45,471 ¥40,035 .......................... ¥4.45 ¥76,682 ¥76,682 ¥68,213 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... (4) (4) (4) (4) (4) (4) ¥5.87 ¥8.87 ¥25.32 ¥16.48 ¥3.17 1.35 ¥8,044 ¥78,092 ¥209 ¥2,715 ¥3,563 ¥3,651 ¥35,886 ¥45,622 ¥5,413 ¥25,596 ¥3,563 ¥3,651 ¥20,090 ¥11,889 ¥3,920 ¥19,411 ¥2,764 ¥2,591 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 2.65 0.53 2.01 0.22 0.63 0.04 2.52 0.23 1.08 .......................... 0.67 0.30 0.91 ¥0.91 1.23 ¥0.50 1.67 ¥0.07 1.49 0.05 ¥0.04 0.14 0.65 .......................... 0.16 ¥0.17 ¥0.14 ¥0.06 0.17 ¥0.05 0.28 .......................... 1.48 9.62 (4) (4) ¥2.73 ¥3.42 ¥1.56 ¥0.45 0.02 ¥1.56 ¥0.32 0.34 0.58 0.28 ¥1.25 ¥0.39 ¥0.45 ¥0.08 0.22 0.28 ¥1,167 ¥817 ¥216 1,171 3,134 940 2,739 5,166 13,935 15,902 6,036 ¥4,408 ¥26,423 ¥17,610 32,422 27,008 ¥156,714 ¥230,051 ¥175,766 1,970 9,443 ¥95,838 ¥93,135 ¥7,232 66,286 32,570 ¥111,467 ¥41,475 ¥77,544 ¥18,457 25,157 27,008 ¥91 2,393 ¥127,291 ¥200,395 ¥113,791 ¥8,688 ¥5,315 ¥105,088 ¥98,427 ¥18,803 38,221 23,443 ¥97,644 ¥33,475 ¥71,414 ¥18,170 20,890 25,480 ¥47 1,274 5,201,545 5,900,433 7,150,009 7,108,760 6,598,333 7,878,300 7,642,996 8,615,245 8,951,334 8,518,847 8,898,132 8,316,060 11,791,549 13,198,097 12,531,883 9,307,475 1,220 21,115 ¥3.38 .......................... 6.47 16 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 (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (4) (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) Percentage point change due to technical assumptions ¥2.47 2.88 7.55 4.83 22.18 ¥4.54 ¥1.32 ¥1.18 ¥0.87 ¥30.49 0.46 0.20 1.33 1.14 ¥0.08 ¥4.50 0.36 ¥0.64 2.90 1.19 3.84 0.90 2.12 ¥2.07 ¥0.13 ¥1.17 ¥0.53 ¥0.66 ¥2.03 ¥2.71 ¥2.33 ¥1.90 ¥1.37 ¥0.36 ¥1.64 ¥170.01 ¥160.55 ¥4.32 Current reestimate amount 2 ($ thousands) 8 28 32 30 99 ¥5 ¥2 ¥1,966 ¥4,496 ¥* ¥1 ¥* ¥* ¥* * 30 426 435 97 374 237 ¥774 ¥680 928 173 891 671 6,008 8,653 8,134 16,689 ¥408 ¥29,251 ¥6,455 ¥* 118 ¥10 ¥1 Net lifetime reestimate amount 3 ($ thousands) ¥1,200 1,159 3,774 855 694 ¥53 ¥2 ¥18,891 ¥13,126 ¥10,086 64 55 647 15 ¥17 ¥3,319 351 ¥391 9,917 ¥6,398 82,476 36,763 28,774 ¥23,297 ¥17,187 ¥12,896 ¥10,574 ¥13,011 ¥45,194 ¥75,294 ¥78,365 ¥80,088 ¥59,570 ¥6,455 ¥244 ¥4,857 ¥12,387 ¥105 Net lifetime reestimate amount, excluding interest ($ thousands) ¥692 728 2,543 609 532 ¥45 ¥2 ¥18,688 ¥11,935 ¥3,612 49 25 299 8 ¥7 ¥1,470 129 ¥231 15,807 8,040 64,236 37,757 39,209 ¥25,290 ¥21,493 ¥12,998 ¥7,754 ¥11,784 ¥39,600 ¥70,735 ¥74,077 ¥76,023 ¥55,848 ¥6,078 ¥132 ¥2,847 ¥8,231 ¥72 Total disbursements to date ($ thousands) 27,309 27,296 35,028 13,508 2,470 1,003 150 1,606,586 1,378,373 12,290 11,030 13,240 23,320 700 28,070 34,301 36,626 36,985 562,596 723,343 1,135,129 1,314,744 2,076,042 1,203,911 1,464,717 1,596,437 1,492,097 1,910,784 2,063,672 2,676,874 3,239,611 3,991,254 3,831,022 1,723,171 8,463 1,727 5,278 1,725 Original Subsidy Rate FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... FY 2000 ..................................................................................................... FY 2001 ..................................................................................................... FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... 7(a) General Business Loan Guarantees—STAR FY 2002 ..................................................................................................... FY 2003 ..................................................................................................... SBIC 301(d) Guarantee FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... FY 1995 ..................................................................................................... FY 1996 ..................................................................................................... Section 502 Local Development Companies FY 1992 ..................................................................................................... FY 1993 ..................................................................................................... FY 1994 ..................................................................................................... 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 ..................................................................................................... FY 2007 ..................................................................................................... Section 504 Certified Development Companies—DELTA FY 1996 ..................................................................................................... FY 1997 ..................................................................................................... FY 1998 ..................................................................................................... FY 1999 ..................................................................................................... 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 1.50 0.49 0.54 0.51 0.57 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 0.57 1.01 0.72 1.29 1.00 6.24 9.63 6.66 24.05 ¥2.81 0.19 0.49 0.17 ¥3.19 29.34 30.12 29.18 30.07 5.87 1.08 1.96 0.86 3.39 1.73 6.03 3.87 2.11 ¥2.14 ¥1.48 ¥0.87 ¥0.48 ¥0.60 ¥1.97 ¥2.65 ¥2.33 ¥1.90 ¥1.37 ¥0.36 ¥1.07 ¥169.00 ¥159.83 ¥3.03 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) Total disbursements to date ($ thousands) Original Subsidy Rate 7(m) Microloan Guarantees 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 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... 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 ..................................................................................................... FY 2007 ..................................................................................................... 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 .......................... .......................... .......................... .......................... .......................... .......................... .......................... .......................... 9.00 8.90 9.00 3.29 2.20 2.19 1.80 1.31 .......................... .......................... .......................... 14.47 15.46 (8) .......................... .......................... .......................... 3.86 0.87 3.86 5.99 0.94 0.43 21.83 1.93 ¥4.98 ¥17.46 ¥27.22 ¥19.32 ¥2.08 3.25 ¥2.69 ¥4.76 0.24 0.04 ¥3.51 ¥3.17 ¥3.55 ¥3.13 (4) (4) (4) (4) (4) (4) 0.19 0.07 ¥0.46 0.41 ¥0.02 ¥0.01 ¥2.89 ¥2.36 (4) (4) .......................... 0.03 .......................... .......................... .......................... .......................... ¥8.09 ¥7.34 ¥4.29 ¥1.98 ¥7.38 ¥7.52 7.35 ¥13.54 ¥20.77 ¥32.52 ¥42.66 ¥22.50 ¥1.13 4.23 ¥2.69 ¥4.76 0.24 0.01 ¥3.51 ¥3.17 ¥3.55 ¥3.13 ¥12.82 16.61 2.73 29.15 8.65 57.09 38.14 21.68 8.00 11.87 13.45 1.48 1.97 0.62 0.20 ¥0.25 ¥0.14 ¥* 2 ¥* ¥* ¥* ¥* 566 ¥20,769 ¥7,347 ¥321 41 ¥1,335 ¥47,045 ¥12,517 ¥10,082 ¥14,118 ¥10,375 ¥6,206 ¥13,628 ¥9,061 ¥8,813 ¥4,823 15 ¥7,328 822 ¥13,310 ¥9,767 100,452 ¥67,412 ¥14,222 ¥76,870 ¥101,092 67,709 130 635 17,492 ¥3,433 2,800 ¥5,103 ¥189 ¥294 ¥206 ¥39 ¥111 ¥186 11,284 ¥18,441 ¥36,670 ¥58,475 ¥75,674 ¥51,720 ¥36,235 2,716 ¥10,057 ¥23,847 ¥484 ¥1,850 ¥17,391 ¥9,794 ¥8,975 ¥4,823 ¥21,841 79,708 22,208 101,620 57,262 643,509 452,422 348,645 69,647 105,623 379,764 510 1,223 251,683 8,943 ¥9,196 ¥5,103 ¥104 ¥177 ¥133 ¥27 ¥76 ¥144 4,290 ¥8,403 ¥20,709 ¥32,309 ¥44,353 ¥29,941 ¥12,423 5,477 ¥6,933 ¥17,783 1,190 113 ¥14,901 ¥8,719 ¥8,184 ¥4,629 ¥20,002 34,836 5,408 65,299 51,727 501,395 414,890 303,013 74,720 109,998 348,395 440 1,055 237,082 8,129 ¥8,894 ¥4,860 1,579 2,702 3,654 1,757 1,150 2,000 60,060 63,350 100,000 104,430 108,570 138,725 382,035 292,750 296,155 391,360 376,940 402,750 438,480 286,340 242,585 151,720 149,660 219,940 231,230 232,830 677,825 930,450 1,089,560 1,677,425 1,107,935 1,053,140 2,051,460 18,750 33,550 38,006,973 4,224,301 3,633,474 3,678,115 ¥4.23 ¥0.41 25.69 0.18 11.71 ¥0.02 32.34 ¥0.10 9.92 ¥0.93 58.25 ¥1.03 40.20 0.26 22.75 ¥0.24 7.78 ¥0.22 11.51 ¥0.36 13.45 .......................... 17.11 17.43 0.62 0.20 ¥0.25 ¥0.14 1.16 (4) .......................... .......................... .......................... .......................... 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) Total disbursements to date ($ thousands) Original Subsidy Rate 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 ..................................................................................................... FY 2006 ..................................................................................................... FY 2007 ..................................................................................................... 4.54 3.09 3.92 6.83 6.56 6.52 7.79 5.95 6.76 7.00 5.89 ¥0.61 2.16 1.88 ¥0.15 2.04 (4) ¥2.50 7,588 ¥354,371 ¥359,124 8,102,397 ¥4.41 (4) ¥7.50 ¥48,833 ¥725,175 ¥694,608 8,785,834 ¥2.13 (4) ¥6.05 ¥61,530 ¥837,993 ¥801,027 9,448,361 ¥3.07 (4) ¥9.90 43,378 ¥700,892 ¥725,200 5,490,379 ¥3.18 (4) ¥9.74 ¥20,553 ¥932,231 ¥921,416 6,449,940 ¥1.91 (4) ¥8.43 ¥19,286 ¥874,969 ¥865,792 8,422,038 0.98 (4) ¥6.81 ¥20,661 ¥690,030 ¥681,153 6,937,365 2.28 (4) ¥3.67 ¥51,693 ¥488,075 ¥467,421 11,429,108 ¥0.11 (4) ¥6.87 ¥30,539 ¥760,595 ¥750,638 9,722,213 3.16 (4) ¥3.84 230,849 ¥363,147 ¥424,174 10,753,195 1.17 (4) ¥4.72 31,021 ¥488,830 ¥495,621 12,770,904 ¥0.07 (4) 0.54 ¥148,436 ¥245,301 ¥215,070 23,785,779 ¥2.19 (4) ¥4.35 ¥159,974 ¥162,165 ¥143,306 5,832,817 ¥0.30 (4) ¥2.18 ¥5,422 ¥5,422 ¥4,971 415,669 (5) .......................... .......................... .......................... .......................... .......................... .......................... * Nonzero amount rounds to zero, based on units for this column. 1 Reestimates for some programs did not appear in the 2009 Appendix because they were less than $500,000. 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. 5 Reestimates have not yet been calculated. 6 Cohort is closed as of the end of 2007. 7 Includes the Stafford, PLUS, Consolidation, and SLS loan programs. 8 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. 60 Table 9.—DIRECT LOAN PROGRAM DISBURSEMENT RATES IN THE 2009 BUDGET 1 Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Department of Agriculture Farm Service Agency: Agricultural Credit Insurance Fund: Farm Ownership ................................................................................................................................ Farm Operating .................................................................................................................................. Indian Tribe Land Acquisition ........................................................................................................... Boll Weevil Eradication ...................................................................................................................... Farm Storage Facility Loan Program .................................................................................................... Sugar Storage Facility Loan Program ................................................................................................... Rural Utilities Service: Water and Waste Disposal Loans ........................................................................................................ Broadband Treasury Loans ................................................................................................................... Rural Electrification and Telephone Program: Electrification: Electric Hardship Loans ................................................................................................................ FFB Electric Loans ........................................................................................................................ Direct Electric Loans (Legislative Proposal) ................................................................................ Telephone: Telecommunication Hardship Loans ............................................................................................. FFB Telecommunications Loans .................................................................................................. Direct Telecommunications Loans (Legislative Proposal) ........................................................... Treasury Telecommunication Loans ............................................................................................. Rural Housing Service: Community Facility Loans ...................................................................................................................... Rural Housing Insurance Fund: Single-Family Housing Credit Sales ................................................................................................. Multi-Family Housing Credit Sales .................................................................................................... Section 504 Housing Repair ............................................................................................................. Section 523 Self-Help Housing ......................................................................................................... Section 524 Site Development ......................................................................................................... Rural Business Cooperative Service: Intermediary Relending Program ........................................................................................................... Department of Commerce National Oceanic and Atmospheric Administration: Fisheries Finance: Individual Fishing Quota Loans ........................................................................................................ Department of Defense Family Housing: Family Housing Improvement Fund Direct Loans ................................................................................ ................ ................ ................ Department of Education Federal Student Aid: Ford Direct Loan Program: Weighted Average of Total Obligations ............................................................................................ 38 62 ................ ................ ................ ................ ................ Two Three Four Five Six Seven Eight Nine Ten and Later 79 18 3 ................ ................ 88 6 6 ................ ................ 70 16 14 ................ ................ 76 24 ................ ................ ................ 35 50 15 ................ ................ 100 ................ ................ ................ ................ 4 1 10 15 15 1 6 6 2 11 22 32 31 21 21 19 15 15 20 30 29 16 22 16 16 16 11 11 15 30 20 10 16 12 12 13 11 11 14 14 10 8 10 16 16 13 11 11 11 6 ................ ................ ................ ................ ................ ................ 5 7 7 10 10 13 11 11 11 3 ................ ................ ................ ................ ................ ................ 3 7 ................ ................ ................ ................ ................ ................ 2 7 ................ ................ ................ ................ ................ ................ 3 7 ................ ................ ................ ................ ................ ................ 2 5 4 ................ ................ ................ 10 ................ ................ ................ 10 ................ ................ ................ 9 10 10 10 2 ................ ................ ................ ................ ................ 9 9 9 10 2 ................ ................ ................ ................ ................ 5 2 8 8 8 8 7 ................ 2 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ 93 7 ................ ................ ................ ................ 88 12 * ................ ................ ................ 38 47 15 ................ ................ ................ 12 64 23 ................ ................ ................ 6 29 24 17 11 13 ................ ................ ................ ................ 23 34 3 4 1 1 ................ ................ ................ ................ 71 29 ................ ................ ................ ................ ................ ................ ................ ................ 61 Table 9.—DIRECT LOAN PROGRAM DISBURSEMENT RATES IN THE 2009 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Weighted Average of Total Obligations (Legislative Proposal) ....................................................... Subsidized Stafford ............................................................................................................................ Subsidized Stafford (Legislative Proposal) ....................................................................................... Unsubsidized Stafford ........................................................................................................................ Unsubsidized Stafford (Legislative Proposal) ................................................................................... PLUS .................................................................................................................................................. Consolidated ...................................................................................................................................... Consolidated (Legislative Proposal) .................................................................................................. Loans for Short—Term Training (Legislative Proposal) ....................................................................... TEACH Grants ....................................................................................................................................... Office of Postsecondary Education: Historically Black College and University Capital Financing Program (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 .................................................................................................... Veterans Health Administration: Transitional Housing for Homeless Veterans ....................................................................................... International Assistance Programs Overseas Private Investment Corporation: OPIC Direct Loans ................................................................................................................................. 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ 100 ................ ................ ................ ................ 91 9 ................ ................ ................ 100 ................ ................ ................ ................ 15 41 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 78 89 22 2 * ................ ................ ................ ................ ................ ................ ................ 8 ................ ................ ................ ................ ................ ................ ................ Two Three Four ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Five ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Six ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Seven ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Eight ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Nine ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ Ten and Later ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 71 29 ................ 59 31 ................ 59 31 ................ 57 31 ................ 57 31 ................ 58 36 ................ 98 1 ................ 98 1 ................ 81 ................ ................ 65 35 ................ 50 30 20 ................ ................ ................ ................ ................ ................ ................ 20 10 58 20 10 31 20 10 6 20 10 4 20 ................ ................ ................ ................ ................ 10 10 10 10 10 10 1 ................ ................ ................ ................ ................ 43 ................ ................ ................ ................ ................ ................ ................ 62 Table 9.—DIRECT LOAN PROGRAM DISBURSEMENT RATES IN THE 2009 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Small Business Administration General Business Loan Programs: 7(m) Direct Microloans (Legislative Proposal) ...................................................................................... Disaster Loan Program: Disaster Assistance ................................................................................................................................ Other Independent Agencies Export-Import Bank of the United States: Direct Loans: Tied Aid War Chest ........................................................................................................ 10 50 25 15 ................ ................ ................ ................ ................ ................ 21 64 47 33 19 7 5 1 ................ ................ ................ ................ Two Three Four Five Six Seven Eight Nine Ten and Later 4 ................ ................ ................ ................ ................ ................ ................ * Nonzero amount rounds to zero, based on units for this column. 1 Disbursements as a percent of obligations. In some cases, disbursement rates may not add to 100 percent due to cancellations between the time of obligation and disbursement. 63 Table 10.—LOAN GUARANTEE PROGRAM DISBURSEMENT RATES IN THE 2009 BUDGET 1 Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Department of Agriculture Farm Service Agency: CCC Export Loan Guarantees: GSM 102 ............................................................................................................................................ Facilities ............................................................................................................................................. Agricultural Credit Insurance Fund: Farm Operating—Unsubsidized ........................................................................................................ Farm Operating—Subsidized ............................................................................................................ Farm Ownership—Unsubsidized ....................................................................................................... Rural Utilities Service: Water and Waste Disposal Loan Guarantees ...................................................................................... Rural Housing Service: Community Facility Loan Guarantees ................................................................................................... Rural Housing Insurance Fund: Guaranteed 502 Single Family Housing, Purchase ......................................................................... Guaranteed 502 Single Family Housing, Purchase (Legislative Proposal) .................................... Guaranteed 502, Refinance .............................................................................................................. Guaranteed 538 Multi-Family Housing ............................................................................................. Guaranteed 538 (Legislative Proposal) ............................................................................................ Rural Business Cooperative Services: Business and Industry Loan Guarantees .............................................................................................. Department of Education Federal Student Aid: Federal Family Education Loan Program: Weighted Average of Total Commitments ........................................................................................ Subsidized Stafford ............................................................................................................................ Unsubsidized Stafford ........................................................................................................................ PLUS .................................................................................................................................................. Consolidated ...................................................................................................................................... Loans for Short-Term Training (Legislative Proposal) .......................................................................... 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 ................ ................ ................ ................ ................ ................ 30 43 17 10 ................ ................ ................ ................ ................ ................ Two Three Four Five Six Seven Eight Nine Ten and Later 70 70 83 83 83 6 11 75 75 79 5 5 49 30 ................ ................ ................ ................ ................ ................ ................ ................ 30 ................ ................ ................ ................ ................ ................ ................ ................ 15 15 15 27 32 2 ................ ................ ................ ................ ................ ................ ................ 2 ................ ................ ................ ................ ................ ................ ................ 2 ................ ................ ................ ................ ................ ................ ................ 40 31 14 13 8 8 5 ................ ................ ................ ................ 2 2 1 ................ ................ 25 ................ ................ ................ ................ ................ ................ ................ ................ 25 ................ ................ ................ ................ ................ ................ ................ ................ 21 ................ ................ ................ ................ ................ ................ ................ ................ 18 20 22 14 14 7 ................ ................ ................ 18 20 22 14 14 7 ................ ................ ................ 40 11 ................ ................ ................ ................ ................ ................ ................ 73 27 56 29 55 29 55 30 99 * 78 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 75 75 75 25 ................ ................ ................ ................ ................ ................ ................ ................ 25 ................ ................ ................ ................ ................ ................ ................ ................ 25 ................ ................ ................ ................ ................ ................ ................ ................ 65 Table 10.—LOAN GUARANTEE PROGRAM DISBURSEMENT RATES IN THE 2009 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One 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 ............................................................................................... Mutual Mortgage Insurance Program (Legislative Proposal) ........................................................... Mutual Mortgage Insurance Program—HECM (Legislative Proposal) ............................................. Government National Mortgage Association: Guarantees of Mortgage-Backed Securities ......................................................................................... Department of the Interior Bureau of Indian Affairs: Indian Guaranteed Loans ...................................................................................................................... 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 Guarantees ........................................................ Department of Veterans Affairs Benefits Programs: Housing Guaranteed Loans ................................................................................................................... International Assistance Programs Agency for International Development: Development Credit Authority (DCA): Loan Guarantees ............................................................................................................................... Line of Credit ..................................................................................................................................... Loan Guarantees to Israel ..................................................................................................................... Overseas Private Investment Corporation: OPIC Loan Guarantees ......................................................................................................................... OPIC Investment Funds ........................................................................................................................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 20 58 20 31 20 6 20 4 20 ................ ................ ................ ................ ................ 1 ................ ................ ................ ................ ................ 34 44 18 2 2 1 ................ ................ ................ ................ 75 75 75 75 75 75 75 75 75 100 100 60 100 100 Two 25 25 25 25 25 25 25 25 25 ................ ................ 6 ................ ................ Three ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 5 ................ ................ Four ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 4 ................ ................ Five ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 4 ................ ................ Six ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 3 ................ ................ Seven ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 3 ................ ................ Eight ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 4 ................ ................ Nine ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 4 ................ ................ Ten and Later ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ 4 ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 60 6 5 4 4 3 3 4 4 4 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 56 14 14 17 ................ ................ ................ ................ ................ ................ 16 26 26 32 ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ 16 16 16 16 16 16 3 3 ................ ................ 66 Table 10.—LOAN GUARANTEE PROGRAM DISBURSEMENT RATES IN THE 2009 BUDGET 1—Continued Percentage of total disbursements made in year: Agency, Bureau, Program and Risk Category One Small Business Administration General Business Loan Programs: 7(a) General Business Loan Guarantees ............................................................................................. Section 504 Certified Development Companies Debentures ............................................................... SBIC Debentures ................................................................................................................................... Secondary Market Guarantee ............................................................................................................... Secondary Market Guarantee (Legislative Proposal) ........................................................................... 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 ................................................................................................................................ 57 25 1 * * * * ................ 28 51 17 3 1 * * * 20 32 15 9 7 ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ 100 ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ ................ * ................ ................ ................ ................ Two Three Four Five Six Seven Eight Nine Ten and Later 25 25 75 ................ ................ ................ ................ ................ ................ ................ ................ 75 ................ ................ ................ ................ ................ ................ ................ ................ * Nonzero amount rounds to zero, based on units for this column. 1 Disbursements as a percent of commitments. In some cases, disbursement rates may not add to 100 percent due to cancellations between the time of commitment and disbursement. 67 e x e cu t i v e of f i c e of t he p resi d ent o ffi ce of m an agem en t an d b ud g et w as hi n gt on , d. c . 205 03