IDEAS home Printed from https://ideas.repec.org/p/hfa/wpaper/07-03.html
   My bibliography  Save this paper

Subordinated Debt Issuance by Fannie Mae and Freddie Mac

Author

Listed:
  • Valerie L. Smith

    (Office of Federal Housing Enterprise Oversight)

Abstract

This paper examines the contribution of the current sub debt programs of Fannie Mae and Freddie Mac to market discipline of the Enterprises. The paper also examines the potential for alternative forms of sub debt to enhance market discipline of the Enterprises. Previous research on market discipline of Fannie Mae and Freddie Mac has assessed how the market responds to new information about the Enterprises. Specifically, that research focused on how Enterprise share prices and senior debt yield spreads (spreads between Enterprise senior debt and Treasury issues of comparable maturities) responded to new information. This paper extends that research by examining how spreads between Fannie Mae and Freddie Mac sub and senior debt have responded to new information.

Suggested Citation

  • Valerie L. Smith, 2007. "Subordinated Debt Issuance by Fannie Mae and Freddie Mac," FHFA Staff Working Papers 07-03, Federal Housing Finance Agency.
    • Handle: RePEc:hfa:wpaper:07-03
    as

    Download full text from publisher

    File URL: https://www.fhfa.gov/sites/default/files/2023-04/2007-06_WorkingPaper_07-3_N508.pdf
    Download Restriction: no
    File URL: https://www.fhfa.gov/research/papers/wp0703
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Robert N. Collender & Samantha Roberts & Valerie L. Smith, 2007. "Signals from the Markets for Fannie Mae and Freddie Mac Subordinated Debt," FHFA Staff Working Papers 07-04, Federal Housing Finance Agency.
    2. Robert N. Collender, 2008. "Enterprise Credit Default Swaps and Market Discipline – Preliminary Analysis," FHFA Staff Working Papers 08-02, Federal Housing Finance Agency.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hfa:wpaper:07-03. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: William Doerner (email available below). General contact details of provider: https://edirc.repec.org/data/fhfaaus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.