GSEs started to quietly draw from Treasury today

As expected, Fannie Mae and Freddie Mac announced that they will require a combined $4 billion “draw” from the U.S. Treasury in order to maintain positive net worth. This is due to their having to write down certain tax assets whose values were negatively impacted by the new tax law.

Table 1: Quarterly Draws on Treasury Commitments to Fannie Mae and Freddie Mac per the Senior Preferred Stock Purchase Agreements – fhfa.gov
The draw is documented on page 2. (GSE_1st_draw_2018_Table_1)