National News

Fannie/Freddie takeover prompts joint statement from federal agencies The Federal Reserve, FDIC, OCC and OTS released a joint statement saying the agencies are “assessing the exposures of banks and thrifts to Fannie Mae and Freddie Mac.” The number of institutions with holdings “that are significant compared to their capital” is expected to be limited. The agencies asserted a readiness “to work with these institutions to develop capital-restoration plans pursuant to the capital regulations and the prompt corrective action provisions of the Federal Deposit Insurance Act.” They also reminded all . . .

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