Fannie Mae and Freddie Mac were adequately capitalized at the end of the first quarter, the Office of Federal Housing Enterprise Oversight has reported.

The regulator, which reviews mortgage finance companies quarterly, said Fannie held core capital of $16.153 billion at March 31, $316 million more than the federally mandated minimum.

The unit of the Department of Housing and Urban Development said that Freddie Mac held core capital of $10.941 billion, or $345 million more than its minimum requirement.

Core capital includes common stock, some kinds of preferred stock, paid- in capital, money the companies receive in exchange for their stock, and retained earnings.

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