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Article: Freddie Mac says Federal Home Loan Banks received $3 billion profit from stock.
- Article from:
- PR Newswire
- Article date:
- February 9, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FREDDIE MAC SAYS FHLBS RECEIVED $3 BILLION PROFIT FROM STOCK
RESTON, Va., Feb. 9 /PRNewswire/ -- The 12 Federal Home Loan Banks (FHLBs) are continuing their outrageous demand for more than the $3 billion profit already received from a $100 million investment in startup capital for Freddie Mac (NYSE: FRE), said Leland Brendsel, the corporation's chairman and chief executive officer in a letter to members of the House and Senate Banking Committees.
Freddie Mac's newly elected board of directors voted Tuesday to exercise the corporation's congressional charter authority to redeem 100,000 shares of nonvoting common stock held by the 12 district FHLBs at ...