Fannie, Freddie Get Reduction In Required Capital Surplus

The regulator for mortgage-finance giants Fannie Mae and Freddie Mac Wednesday reduced the capital the firms must hold in an effort to help boost the ailing housing market.

The Office of Federal Housing Enterprise Oversight, or Ofheo, said it was initially reducing the 30% capital surplus it requires of the firms to 20%.

The regulator said the move could provide up to $200 billion in immediate liquidity to the troubled mortgage-backed securities market.

"We believe they can play an even more positive role in providing the stability and liquidity the markets need right now," Ofheo Director James Lockhart said in a statement.

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- Posted: 2008-03-19 10:03:06

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