fed minutes, 2008-09-16
On September 7, the Treasury Department and the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac had been placed into conservatorship and that Treasury would establish a backstop lending facility for the government-sponsored enterprises (GSEs), purchase preferred stock in the GSEs as necessary to ensure that they maintain a positive net worth, and initiate a program to purchase mortgage-backed securities (MBS).
Sentiment: neutral
Topic: financial_stability