Russia cuts exposure to US mortgage lenders - c.bank

MOSCOW, July 28 Mon Jul 28, 2008 9:19am EDT

MOSCOW, July 28 (Reuters) - Russia has approximately halved to less than $50 billion its exposure to U.S. mortgage lenders Fannie Mae FNM.N and Freddie Mac FRE.N, a senior central bank official told Reuters on Monday. "It's now less than $50 billion," central bank first deputy chairman Alexei Ulyukayev said, when asked about Russia's investments in the agencies.

Russia held about $100 billion at the start of 2008. (Reporting by Yelena Fabrichnaya, writing by Robin Paxton)

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