Freddie Mac has announced that it will release its second-quarter 2007 financial results before the market opening of the New York Stock Exchange on Aug. 30.The government-sponsored enterprise said it will hold a conference call at 10 a.m. EDT on that date to discuss the company's results. Freddie Mac resumed quarterly reporting in June for the first time since 2002, citing a net loss of $211 million ($0.46 per share) that it attributed primarily to mark-to-market losses on its derivatives portfolio and to credit spread widening.
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The Bureau of Economic Analysis' personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.
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Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
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There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
June 24 -
Foundation had introduced Version 3 of its credit risk model, using the most recent delinquency data, to improve loan performance predictions.
June 24 -
Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.
June 24 -
The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."
June 24











