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U.S. Treasury overhauls stake in Fannie, Freddie with eye towards government exit


By Reuters Staff
1 Min Read
WASHINGTON, Jan 14 (Reuters) - The Treasury Department announced on Thursday it was overhauling its stake in Fannie Mae and Freddie Mac, charting a course for the housing giants to slowly rebuild their capital with an eye towards eventually letting them issue public stock and escape government control.
The changes would allow the pair to retain profits in exchange for giving the Treasury a larger stake, but envisions years of rebuilding capital cushions before they could pay out dividends to investors or exit government control.
Government officials also acknowledged that a number of complicated issues must still be resolved by the incoming Biden administration. (Reporting by Pete Schroeder Editing by Chris Reese) ....

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DHFL creditors vote in favour of Piramal's $5 billion bid - source


By Reuters Staff
1 Min Read
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai, India, January 31, 2019. REUTERS/Francis Mascarenhas/Files
MUMBAI (Reuters) - Creditors of India’s Dewan Housing Finance Corp have voted in favour of a 372.5 billion rupees ($5.09 billion)takeover bid submitted by the Piramal Group for the troubled “shadow” lender, a source with knowledge of their decision said on Sunday.
DHFL’s creditors finished voting on Friday evening, and the source requested anonymity as the result has not been officially released.
Once one of India’s top “shadow” lenders, DHFL accumulated total debts of almost 1 trillion rupees before defaulting on payments to its creditors. ....

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