Sunday, February 23, 2014

Fed meeting 2008 pdf

Fed meeting 2008 pdf

http://www.federalreserve.gov/monetarypolicy/files/FOMC20080805meeting.pdf

use ctrl F and search for fannie


U.S. fixed-income asset managers
, who believed that the implicit Treasury support of GSE debt was likely to be harde
ned (exhibit 11). Fannie and Freddie responded by issuing less debt. To husband their liquidity, the two firms have backed away from purchasing agency mortgage-

The mortgage basis remains wide in 
part because Fannie Mae and Freddie Mac have few incentives to expand their 
balance sheets. Although their regulatory capital is still well above minimum levels, 
these capital standards are under review. Moreover, because further losses are likely 
in coming quarters, it is unclear how long this excess capital will be available to 
support portfolio growth.

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