After completing a record breaking $10 billion sale of benchmark debt in January, Fannie Mae broke its own record last week with a three-tier sale of its benchmark bonds and notes.

The $11.5 billion sale also marked the debut of Fannie Mae's new Benchmark Automated Syndication System (BASS), a computerized system that gives dealers the ability to link directly with Fannie Mae to get near real-time information regarding the sale (MBSL 7/31/00).

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