Fannie Mae request an extension to the Treasury
After the additional $ 10 billion claimed by Freddie Mac in Washington, his sister Fannie Mae has requested $ 8.4 billion to the state by the end of June to offset its deficit. "Our first quarter results are due primarily to costs associated with credit, which remain high due to weaknesses in the economy and housing market, Fannie Mae said in a statement.
This is in addition to an extension of the $ 15.3 billion released by the Treasury on March 31 last. "Due to current trends in housing and financial markets, we continue to expect net deficits in the future, and therefore we will obtain additional financing to the Treasury, the company said.
This request comes as Fannie Mae has released today a loss of 11.5 billion dollars in the first quarter.A loss to which we must add the payment of a dividend of 1.5 billion dollars to the federal government. On Thursday, Freddie Mac announced a loss of 8 billion dollars by way of the first quarter.
Senators resist
Victims of the credit crisis, the two institutions, which guarantee more than 40% of outstanding mortgages granted in the United States have been saved from bankruptcy by the U.S. government.
The Senate voted Wednesday an amendment canceling a fund of 50 billion dollars (39 billion euros) in charge of the liquidation of banks and other financial institutions of importance.
In late 2009, the Obama administration is committed to cover an unlimited losses "Freddie Mac and Fannie Mae" until 2012.
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