The Office of Federal Housing Enterprise Oversight said Fannie Mae and Freddie Mac were adequately capitalized as of Dec. 31.

The quarterly report found that Fannie Mae had core capital of $12.77 billion on Dec. 31. Fannie was required to hold a minimum of $11.47 billion.

Freddie Mac had core capital of $6.74 billion on Dec. 31. The agency exceeded its minimum capital of $6.52 billion.

Core capital includes common stock, perpetual noncumulative preferred stock, paid-in capital, and retained earnings.

The office, established to monitor the financial soundness of the two government-sponsored enterprises, is presently drafting risk-based capital standards for them.

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