Jul 11, 2008

OFHEO director: GSEs "are adequately capitalized"

OFHEO has been monitoring and continues to monitor closely Fannie Mae, Freddie Mac and the mortgage and financial markets. As one would expect, we are carefully watching the Enterprises’ credit and capital positions.

As I have said before, they are adequately capitalized, holding capital well in excess of the OFHEO-directed requirement, which exceeds the statutory minimums. They have large liquidity portfolios, access to the debt market and over $1.5 trillion in unpledged assets.

~ James B. Lockhart, Director, Office of Federal Housing Enterprise Oversight (OFHEO), Press Release, July 10, 2008

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