NEW YORK, July 14 The response to Freddie Mac's
$3 billion bill auction on Monday, seen by the market as a
critical test of the U.S. home funding company's borrowing
access, indicated "business as usual" and continued robust
foreign demand, the company's Treasurer said on Monday.
The U.S. government on Sunday announced sweeping changes to
restore market confidence after fears about capitalization at
Freddie Mac FRE.N and Fannie Mae FNM.N pummeled their
shares to 17-year lows last week.
Freddie Mac sells bills each week as part of routine
financing of its operations. Its sale of bills early Monday was
being scrutinized for clues about any changes to the company's
ability to tap the debt markets.
"I would say it's business as usual, funding costs were in
line, the investor base was in line, the bid to cover was
higher than we've seen recently," Timothy Bitsberger, treasurer
of the second-largest provider of U.S. home funding, told
Reuters in a telephone interview.
(Reporting by Lynn Adler; Editing by James Dalgleish; )