Subordinated Debt


As of September 1, 2005 both Fannie Mae and Freddie Mac established formal arrangements under which both GSEs would issue subordinated debt pursuant to a bi-annual plan reviewed by OFHEO and subject to the continuing oversight of the agency. The agreements also encompass both GSEs’ making public disclosures related to risk and represent the transformation of the 'voluntary initiative'  announced by both GSEs on October 19, 2000 into a enforceable agreement with their federal regulator.

Subordinated debt is not part of regulatory core capital or total capital, as defined in OFHEO’s statute and regulations. 

View Subordinated Debt History (pre-Conservatorship)

View Subordinated Debt FAQs

Related Links:

Capital Positions During Conservatorship

Contact Information