Fannie and Freddie Likely Lost $3 Billion in Libor Manipulation (WSJ)

The Federal Housing Finance Agency, the companies' regulator, urges legal action.

An internal report reviewed by The Wall Street Journal shows that Fannie Mae and Freddie Mac likely lost $3 billion due to Libor misdeeds, the paper reports. The analysis was performed by the Federal Housing Finance Agency, using Fannie and Freddie's public financial documents. The agency added that the companies should perform or commission their own analysis, as well, according to the report. A lawsuit would make the legal maelstrom even worse for lenders like Barclays and UBS, the WSJ notes.

For the full story, click here.

Comments