Freddie Mac has announced its 2005 funding calendar for Reference Notes and Reference Bills and issued its Quarterly Funding Announcement & Summary for the fourth quarter.The government-sponsored enterprise also announced that it will henceforth release the quarterly funding announcements before the pertinent quarter begins. Under Freddie Mac's 2005 funding program, two- or three-year Reference Notes may be issued every month except August; five-year Reference Notes may be issued in March, June, September, and December; and 10-year Reference Notes may be issued in January, April, July, and October. The report indicates that the company issued $287.6 billion of debt instruments in the third quarter, consisting of $259 billion of Reference Bills and discount notes, $24.5 billion of callable debt (including syndicated callable notes, euro-denominated callable notes, callable medium-term notes, and FreddieNotes), and $4 billion of Reference Notes. The report said Freddie Mac plans to offer $8 billion to $13 billion in Reference Notes in the fourth quarter, and $2 billion to $6 billion of syndicated callable notes. The funding announcement for the first quarter of 2005 is scheduled to be issued Dec. 10.

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