Fannie Mae has priced an offering of $1 billion of noncumulative, perpetual, variable-rate preferred stock.The 40 million shares of series P stock have a stated value of $25 per share, with a dividend rate that will reset quarterly. The rate will be set at 4.50%, or 75 basis points above the three-month London interbank offered rate, whichever is greater. Goldman, Sachs & Co. and Merrill Lynch & Co. served as placement agents for the transaction, Fannie Mae said. Fannie can be found online at http://www.fanniemae.com.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
8h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
9h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
10h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
April 19 -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
April 19 -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18