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Quotes & Info
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| FRE > SEC Filings for FRE > Form 8-K on 1-Apr-2009 | All Recent SEC Filings |
1-Apr-2009
Other Events
As previously disclosed, at December 31, 2008, Freddie Mac's (formally the Federal Home Loan Mortgage Corporation) liabilities exceeded its assets under generally accepted accounting principles by $(30.6) billion, and stockholders' equity (deficit) totaled $(30.7) billion. On March 31, 2009, pursuant to a request by the Director of the Federal Housing Finance Agency, the U.S. Department of the Treasury (Treasury) provided $30.8 billion in immediately available funds to Freddie Mac in accordance with the terms of the Senior Preferred Stock Purchase Agreement between Freddie Mac and Treasury, in order to address the $30.7 billion deficit in stockholders' equity that existed at December 31, 2008. As a result of this draw, the aggregate liquidation preference of the senior preferred stock has increased from $14.8 billion to $45.6 billion.
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