MCLEAN, Va., May 16, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that, in addition to the fallback information on Freddie Mac legacy LIBOR-indexed securities currently posted to Freddie Mac's Reference Rates Transition webpage, it has posted that information to the LIBOR Replacement Index Communication solution using The Depository Trust & Clearing Corporation’s (DTCC) Legal Notice System (LENS). Freddie Mac securities will transition from LIBOR to replacement indices based on the Secured Overnight Funding Rate (SOFR), beginning on July 1, 2023.
“This solution will provide investors and others who subscribe to DTCC LENS a second channel for accessing LIBOR fallback information on Freddie Mac securities,” said Freddie Mac Treasurer, Ameez Nanjee, program sponsor for the enterprise’s LIBOR Transition. “We appreciate the ongoing solutions that the ARRC has provided to the market to help facilitate a smooth transition away from LIBOR.”
Data available through DTCC LENS is for informational purposes only. The Consolidated CUSIP List on Freddie Mac’s Reference Rates Transition webpage, updated May 11, 2023, with additional security types, is the free and definitive source for the consolidated listing of impacted CUSIPs. The CUSIP list shows the prior index and replacement index for each security.
To view the list and learn more about the LIBOR transition, please visit the Freddie Mac Reference Rates Transition webpage. The page contains links to the LIBOR Transition Playbook, Frequently Asked Questions and Answers about the LIBOR Transition, a table showing the Selected Replacement Index for each legacy LIBOR product, and other relevant information.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT: Fred Solomon
INVESTOR CONTACT: Ameez Nanjee