From: Reuters
Published March 19, 2008 09:15 AM

Fannie and Freddie cleared to buy more mortgages

WASHINGTON (Reuters) - The regulator of Fannie Mae <FNM.N> and Freddie Mac <FRE.N> on Wednesday eased capital requirements for the two firms to provide up to $200 billion in immediate liquidity for stressed mortgage markets.

The regulator, the Office of Federal Housing Enterprise Oversight, will lower to 20 percent from 30 percent the amount of extra capital the companies were required to hold after accounting irregularities at both firms, and will consider further reductions.

The companies will begin to raise significant capital, OFHEO said in a statement.

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