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FRE > SEC Filings for FRE > Form 8-K on 1-Jul-2009All Recent SEC Filings

Show all filings for FEDERAL HOME LOAN MORTGAGE CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for FEDERAL HOME LOAN MORTGAGE CORP


1-Jul-2009

Other Events


Item 8.01 Other Events.

In the Form 10-Q filed by Freddie Mac (formally the Federal Home Loan Mortgage Corporation) on May 12, 2009, Freddie Mac disclosed that its liabilities exceeded its assets by $6.01 billion at March 31, 2009 and that the Federal Housing Finance Agency (FHFA) had submitted a draw request, on Freddie Mac's behalf, to the U.S. Department of the Treasury (Treasury) under the Amended and Restated Senior Preferred Stock Purchase Agreement, as amended on May 6, 2009, between Freddie Mac and Treasury in the amount of $6.1 billion. The draw request submitted by FHFA was rounded up to the nearest $100 million. Pursuant to FHFA's request, on June 30, 2009, Treasury provided $6.1 billion in immediately available funds to Freddie Mac. As a result of this draw, the aggregate liquidation preference of the senior preferred stock has increased from $45.6 billion to $51.7 billion, and the amount remaining under Treasury's funding agreement is $149.3 billion, which does not include the $1 billion of senior preferred stock issued to Treasury as initial consideration for its funding commitment.


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