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Press Release

Fannie Mae Connecticut Avenue Securities Listed on ISE and Complies with EU Risk Retention Requirements

March 24, 2015

Callie Dosberg


WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced that it has listed all of its outstanding series of Connecticut Avenue Securities (CAS) on the Irish Stock Exchange (“ISE”).  The company listed its Series 2014-C04 notes on the ISE last year and has now completed the listing of its Series 2013-C01, 2014-C01, 2014-C02, 2014-C03 and 2015-C01 notes on the ISE.  The company plans to list each new series of CAS notes on the ISE going forward.  In addition, the company has disclosed that it will retain sufficient credit risk in each transaction to ensure compliance with European Union risk retention requirements.  For each CAS offering, Fannie Mae has published a letter describing the means by which it will hold the required amount of credit risk. Copies of those letters can be found with the disclosure for the CAS transactions on Fannie Mae’s website listed below. 

“We are pleased to be able to help facilitate greater participation by European investors in our CAS offerings,” said Laurel Davis, Vice President for credit risk transfer at Fannie Mae. “Listing CAS deals on the ISE and complying with EU risk retention rules are part of our continuing effort to expand the investor base in the program.”

CAS notes are bonds issued by Fannie Mae.  The amount of periodic principal and ultimate principal paid by Fannie Mae in each transaction is determined by the performance of a large and diverse reference pool. 

For more information on the CAS program and Fannie Mae’s approach to credit risk transfer, visit

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