Freddie Mac also announced plans to raise an additional $5.5 billion in new core capital, prompting the Office of Federal Housing Enterprise Oversight to say it would reduce Freddie's surplus capital requirement from 20% to 15% upon completion of the effort. Freddie Mac said the new capital would be divided about evenly between the issuance of preferred stock and common stock. Freddie chairman and chief executive Richard Syron said the additional capital will help the company provide liquidity for the mortgage market and build shareholder value. The government-sponsored enterprise can be found on the Web at http://www.freddiemac.com.
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