Fannie Mae Announces Connecticut Avenue Securities Issuance Calendar
WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced its 2016 Issuance Calendar for its Connecticut Avenue Securities™, or CAS, program. The calendar provides additional transparency to the market for investment planning purposes. During each issuance window, Fannie Mae has the option to issue, or to forego issuance, of a CAS deal.
“As we did in 2015, Fannie Mae will continue to be transparent with the market about our issuance plans,” said Laurel Davis, vice president of credit risk transfer. “We expect slightly more frequent issuance this year compared to last. Last year we issued approximately $6 billion in CAS notes. This year, we anticipate similar to slightly higher issuance volumes. As always, our issuance volumes and utilization of available windows continue to be dependent on market conditions.”
With this calendar, Fannie Mae demonstrates its continued commitment to building a strong market for credit risk sharing as it enters the third year of its flagship CAS program. In addition to the CAS program, Fannie Mae will continue to bring additional private capital to the market through regular issuance of its Credit Risk Insurance Transfer™ (CIRT™) program. Through Fannie Mae’s risk sharing programs, Fannie Mae has transferred a portion of the credit risk on over half a trillion dollars in single-family mortgages.This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase of securities referred to herein must be made solely on the basis of information contained in the applicable Fannie Mae Prospectus, and no reliance may be placed on the completeness or accuracy of the information contained in this press release.
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