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Housing GSEs Quarterly Financial Performance Report

Quarterly Performance Report of the Housing GSEs - Second Quarter 2015

Published: 10/5/2015

​The Enterprises

(Freddie Mac and Fannie Mae)

  • Combined second quarter 2015 earnings of $8.8 billion rose from $2.4 billion in the first quarter of 2015.
  • Gains on derivatives of $5.6 billion were driven by an increase in medium‐ and longer‐term swap rates during the quarter.
  • Loan loss reserves decreased $2.2 billion during the quarter.
  • Enterprise MBS issuance dollar volume increased in the second quarter while the Enterprises’ percent of total issuances decreased slightly to 67 percent.

 The Federal Home Loan Bank System

  • The Federal Home Loan Banks of Des Moines and Seattle merged on May 31, 2015.
  • Aggregate Q2 2015 income of $669 million fell from $1.023 billion in Q1 2015.
  • The FHLBank of Boston received $135 million in litigation settlements.
  • Aggregate advances increased to $592 billion, rising at all FHLBanks over the quarter.
  • Aggregate retained earnings decreased slightly to $13.7 billion due to accounting effects from the merger.
  • Mandatorily redeemable capital stock decreased to $0.4 billion from $2.0 billion in the previous quarter as the FHLBanks of Des Moines and Seattle made significant redemptions and repurchases as part of the merger agreement.
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