Daily Management Review

U.S. Finance Giants Ready To Write Down ‘$21 Billion’ in Case Tax Rates Take Major Dip


03/31/2017


The resolution of the U.S. President could result in “significant writedown”.



Fannie Mae and Freddie Mac are U.S. finance giants in mortgage, whereby Reuters reported that they may “write down $21 billion of tax-related assets” in case they face a major cut in the tax rates of the federal corporation as the President Trump announced, said a BMO Capital Markets’ analyst.
 
Further Richard Leong also reported that:
“This significant writedown would result in the two agencies, which have been under conservatorship due to heavy losses from the housing market collapse more than eight years ago, to borrow nearly $17 billion from the U.S. Treasury Department, BMO's head of fixed-income strategy, Margaret Kerins, wrote in a research note”.
 
 
 
References:
http://www.reuters.com







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