Plenty of Capital at Fannie and Freddie

American Banker (06/10/08) P. 20; Blackwell, Rob
The Office of Federal Housing Enterprise Oversight (OFHEO) reports that both Fannie Mae and Freddie Mac exceeded minimum capital requirements at the end of March. Fannie Mae's core capital totaling $42.7 billion surpassed the required level by $5.1 billion, while Freddie Mac's core capital of $38.3 billion went beyond the minimum by $6 billion. After generating $7.4 billion in capital in May, OFHEO reduced Fannie Mae's required capital cushion to 15 percent; it will do the same for Freddie Mac as soon as another $5.5 billion in capital is raised.