Regulator says has not substantiated Fannie, Freddie Libor losses

WASHINGTON Wed Dec 19, 2012 5:28pm EST

WASHINGTON Dec 19 (Reuters) - The regulator of U.S. mortgage finance giants Fannie Mae and Freddie Mac on Wednesday said it had "not substantiated" any Libor related losses at either of the two companies.

Fannie Mae and Freddie Mac may have lost more than $3 billion in losses due to manipulation of the benchmark interest rate known as Libor, according to an internal memo by a federal watchdog, and obtained by Reuters earlier on Wednesday.

An spokeswoman for the regulator, the Federal Housing Finance Agency, said the regulator "has not substantiated any particular LIBOR related losses for Fannie Mae and Freddie Mac," and said the agency continues to "evaluate issues associated with Libor."

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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