Asian investors hold 14% of Fannie Mae's notes, bonds.HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Nov. 7 Kyodo Asian institutions have bought 14% of the $179.7 billion benchmark notes and bonds issued by Fannie Mae Fannie Mae: see Federal National Mortgage Association. , the world's largest nonbank non·bank adj. Of, relating to, or done by a business or an institution that is not a bank but performs similar services. financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, since 1998, its chairman Frank Raines said Tuesday. ''Less than three years after the launch of Fannie Mae's Benchmark Securities, international investors, particularly in Asia, have recognized their value as the preeminent source of liquidity across the yield curve,'' Raines said in Hong Kong. Fannie Mae, also the largest source of financing for home mortgages in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , is a shareholder-owned corporation chartered by the U.S. Congress. Raines, who was in Hong Kong on Tuesday for the company's annual meeting with its Asian debt and equity investors, told reporters international investors, including those in Asia, have taken up 33% of all its benchmark notes and bonds. He added international investors stand to benefit from the company's voluntary measures announced last month to enhance its capital base and expand public disclosure of its financial information. |
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