The US Treasury Takes Steps to Expedite Wind Down of FNMA and Freddie Mac
| Date Published | 8/20/2012 |
| Author | Yefei Wei |
| Theme | |
| Country | United States |
August 17, 2012
The US Treasury Takes Steps to Expedite Wind Down of FNMA and Freddie Mac
The U.S. Department of the Treasury today announced a set of modifications to the Preferred Stock Purchase Agreements (PSPAs) between the Treasury Department and the Federal Housing Finance Agency (FHFA) as conservator of Fannie Mae and Freddie Mac (the Government Sponsored Enterprises or GSEs) that will help expedite the wind down of Fannie Mae and Freddie Mac, make sure that every dollar of earnings each firm generates is used to benefit taxpayers, and support the continued flow of mortgage credit during a responsible transition to a reformed housing finance market.
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