U.S. Raises Minimum Capital for Freddie Mac
From Reuters
Freddie Mac’s federal regulator directed the mortgage finance company to hold 30% more than its current minimum capital requirement until it sorts out its books after an accounting scandal.
Freddie Mac Chief Executive Richard Syron said the company is well capitalized and would not need to raise money to meet the higher capital threshold.
Freddie Mac’s stock fell 38 cents to $61.82 on the NYSE.
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