House of Assembly Fifty-First Parliament, Third Session (51-3) 51 3 Parliament of South Australia House of Assembly published Answers to Questions Banks, American BANKS, AMERICAN In reply to Mr HAMILTON-SMITH House of Assembly Waite Leader of the Opposition BANKS, AMERICAN In reply to Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (10 September 2008). The Hon. K.O. FOLEY House of Assembly Port Adelaide Deputy Premier Minister for Industry and Trade Minister for Federal/State Relations BANKS, AMERICAN The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I am advised that as at 31 August 2008 Funds SA had the following exposures to Fannie Mae and Freddie Mac: equity issued by Fannie Mae, $3.4 million, representing 0.02 per cent of total funds under management; equity issued by Freddie Mac, $0.3 million, representing less than 0.01 per cent of total funds under management; bonds issued by Fannie Mae, $132.6 million, representing 0.92 per cent of total funds under management; and bonds issued by Freddie Mac, $11.2 million, representing 0.08 per cent of total funds under management. WorkCover SA has advised as at 22 September 2008 they have indirect equity exposures through pooled funds which represent less than 0.001 per cent of total funds under management, the breakdown includes: Fannie Mae of $4,153 Freddie Mac of $2,892 The Public Trustee has confirmed no known exposures to Fannie Mae or Freddie Mac. Note that the bonds issued by Fannie Mae and Freddie Mac have an implicit guarantee of the US government.