Freddie Says It Has Enough Capital, Files With SEC |
| Bloomberg - Jul 18, 2008 |
Freddie Mac, the second-largest U.S. mortgage-finance company, said early indications of its second- quarter results show it probably has enough capital to remain above the 20 percent mandatory surplus demanded by its regulator.
The company isn't under any mandate to raise more than the $5.5 billion in capital it agreed to earlier this year with its regulator, Freddie Mac said in a filing with the U.S. Securities and Exchange Commission today that was a step toward becoming fully registered, removing a hurdle to selling stock and fulfilling an agreement made six years ago with lawmakers. The SEC is likely to approve the registration today, according to people with knowledge of the plans.
The quarter will reflect ``the challenges that face the industry,'' Freddie Mac said in the filing. ``We expect to take actions to maintain our capital position above the 20 percent mandatory target surplus.''
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- Posted: 2008-07-18 09:50:38
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