Russia says further cuts Freddie, Fannie holding

MNB

Russia has slightly further reduced its holdings of US mortgage agencies Freddie Mac and Fannie Mae, central bank's first deputy chairman Alexei Ulyukayev said.

At the start of the year Russia held $100 billion - or over one sixth of its gold and forex reserves - in Fannie Mae, Freddie Mac and Federal Home Loan Banks.

In the summer, officials said that the holdings had been reduced by around 40% through not replacing maturing paper. (Reuters)

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