- CEO: "After setting forth our capital and credit plan August 8, we are now putting a senior management structure in place to drive this plan across the company. This team will be responsible for meeting the dual objectives of conserving capital and controlling credit losses while FNM continues to provide crucial liquidity to the US housing and mortgage markets. As we move through the bottom of this cycle, maintaining capital, managing credit and driving revenues are the priorities - and we have to organize and staff accordingly."

Other headlines for [FNM]

• Yesterday 06:43pm
  (US) WSJ comments on the decline in the Federal Housing Administration's capital position- The decline in capital is being driven by losses from mortgage defaults. - As lenders cut back on loans, more...
  
• Yesterday 03:00pm
  (US) Treasury Sec Paulson: Confident in current strategy, Treasury is actively developing more TARP programs- Expects banks that receive TARP funding to increase lending, warns that raising lending more...
  
• Yesterday 01:44pm
  Fed's Bernanke: More rate reductions are possible, may purchase treasuries and GSE debt, signs of stabilization seen in financial markets- "Too big to fail" must be addressed. - November employment more...
  
• FNM Yesterday 08:48am
  Fannie Mae UDR closes 10Y $400M FNM credit facility- UDR has closed a $225M secured loan originated by PNC ARCS LLC for repurchase by Fannie Mae, with an option to borrow an additional $175M, bringing the total more...
  
• 11/28/2008 08:33pm
  (US) Fed discount window borrowings avg $283B/day in week ended Nov 26 v $297B/day prior- Primary credit borrowings avg $94B/day v $92B prior - Fed loaned $294B toward the purchase of commercial more...
  

Financials sector headlines

• Today 09:28am
  (GE) German Fin Min Steinbrueck: Concept of joint European bond issue is unacceptable- Expects to see new drraft on state aide by Dec 8 - Commerzbank example will motivate other German banks to more...
  
• FORB.BE Today 09:24am
  Shareholders in Brussels votes against Davignon appointment as Board Chariman, received 49.9% of vote- Shareholders vote for De Boeck as CEO (current CEO with 67.27% of vote) - Current board will more...
  
• GS Today 09:21am
  The Goldman Sachs Group Inc UBS analysts see firm experiencing greater mark-to-market losses, could amount to $4B
  
• DGICA Today 09:01am
  Donegal Group Acquires Sheboygan Falls Insurance Company for $12M- The acquisition consideration was approximately $12.0M, which includes a surplus contribution of $8.5M to support the future premium growth of more...
  
• SBIB Today 09:00am
  Sterling Bancshares Inc. Receives Preliminary Approval From U.S. Treasury to Participate in Capital Purchase Program- Estimates the addition of the new capital on a proforma basis would increase Tangible Capital Ratio from more...