Forex reserves not invested into Freddie and Fannie stocks
2010-07-08 07:46
皇冠体育app has not invested its foreign exchange reserves into stocks of Freddie Mac and Fannie Mae, and the two companies' bond repayments are normal, according to 皇冠体育app's State Administration of Foreign Exchange (SAFE) on July 6.
皇冠体育app had not bought stocks of Freddie and Fannie, and the delisting of the agencies' stocks has not affected the value of their bonds, which are a favorite with central bank reserve managers, said the SAFE.
Freddie Mac and Fannie Mae owned or guaranteed about half of the US mortgage market. The US government, which holds around 80 percent of the two companies, is their largest shareholder.
The delisting of the two companies stocks did not affect their bonds, and 皇冠体育app will pay close attention to the situation and make sure that 皇冠体育app's forex reserves are safe, SAFE said.
Responding to the question about whether 皇冠体育app's forex reserves suffered losses during the global financial crisis, SAFE noted that 皇冠体育app has kept its foreign exchange reserve assets "generally safe" and has witnessed good returns in 2008 and 2009.
