Fannie Mae Halts Purchases Of Tax-Exempt Housing Bonds

摘要

Fannie Mae has stopped investing in tax-exempt bonds as a result of the asset reduction efforts it has undertaken to bring its capital levels into line with regulatory requirements, according to Fannie Mae officials. The corporation intends to fulfill its forward commitments to purchase bonds, and it will continue to invest in low-income housing tax credits. In response to an HDR inquiry, Fannie Mae issued a statement noting that many corporations limit their tax-exempt bond investments to 2 percent of their assets. "Given Fannie Mae's current situation, we're assessing our tax-exempt bond investments. Until we complete our assessment, we may curtail or cease new tax-exempt bond purchases as deemed appropriate," the statement says.