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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (74276)	11/17/2006 11:55:00 AM
From: Paul Kern	Respond to of 110194

DJ Tsy Official: GSE Debt Issue Approval Policy Nearly Ready WASHINGTON (Dow Jones)--The U.S. Treasury Department has nearly finished work on a policy requiring advance Treasury approval of quarterly debt issuance by government-sponsored enterprises Fannie Mae (FNM) and Freddie Mac (FRE), a senior Treasury official said Friday. Under the new process, Fannie and Freddie with the approval of their senior management would notify Treasury several weeks in advance of the coming quarter's debt issuance plans, said the Treasury official, who asked not to be identified further. "It's very possible it could take effect for the first quarter of 2007," the official told reporters. The new structure would provide a more formal process for Treasury officials to review and sign off on net changes in the GSEs' debt issuance and any new debt instruments the GSEs introduce, the official said. The changes Treasury plans to make aren't linked to congressional efforts to pass legislation overhauling regulation of the GSEs, and any potential limits on the GSEs' debt portfolios are "irrelevant" to the pending changes in Treasury's oversight of debt issuance, the official said. "This has nothing to do with an expectation of the debt going up or down," the official said. "This is all about process." (MORE TO FOLLOW) Dow Jones Newswires 11-17-06 1153ET Copyright (c) 2006 Dow Jones & Company, Inc.