Notice is a historical project of the Committee for a Responsible Federal Budget, which tracked the money spent by the 2009 stimulus bill. This site is not regularly updated.

Purchase of Fannie Mae Preferred Stock

September 7, 2008
Economic Target: 
Action Type: 
Maximum Amount: 
> $100.00 billion
Amount Spent: 
$98.70 billion

As part of conservatorship, the Treasury agreed to purchase up to $100 billion in stock from each GSE ($200 billion total) including an immediate receipt of $1 billion in senior preferred stock from each GSE as well as warrants to purchase 79.9% of each GSE's common stock. On 2/13/2009, the Treasury Department increased the maximum amount of GSE stock they would agree to purchase by $100 billion each, bringing the total to $400 billion. They estimated that, in total, they would be required to purchase $50 billion from Freddie Mac and $16 billion from Fannie Mae.

In a release on December 24, 2009, the Treasury announced that it has terminated the $200 million cap on purchases on Fannie Mae and Freddie Mac preferred stocks, stating that such steps "are necessary for preserving the continued strength and stability of the mortgage market."


Since the purchase of Fannie Mae preferred stock by FHFA constituted an intergovernmental transfer of stock from a GSE to a federal agency, the deficit impact is zero. Amount spent as of 5/9/2011 (

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