Fannie Mae and Freddie Mac's common and preferred stock began trading on the over-the-counter market Thursday morning, as directed by their regulator.
Fannie's new symbol on the Over-the-Counter Bulletin Board is FNMA and Freddie's is FMCC.
The Federal Housing Finance Agency ordered the government sponsored enterprises to delist from the New York Stock Exchange to reflect their conservatorship status.
The GSE regulator noted that their common stock has been trading around $1 per share since they were placed into conservatorships in 2008. Fannie's stock has been trading below the NYSE's minimum average closing price of $1 for 30 days.
"A voluntary delisting at this time makes sense and fits with the goal of a conservatorship to preserve and conserve assets," FHFA acting director Edward DeMarco said in a June 16 statement.
