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PSA TO PRESENT DISTINGUISHED PUBLIC SERVICE AWARDS TO SEN. CHRISTOPHER DODD, FREDDIE MAC AND FANNIE MAE

 NEW YORK, Oct. 13 /PRNewswire/ -- The Public Securities Association will present its 1993 Distinguished Public Service awards to Senator Christopher J. Dodd (D-Conn.) and to the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association at its annual awards dinner at the Pierre here today, PSA Chairman Don B. Taggart announced today.
 The PSA Distinguished Public Service Award is given annually to recognize the distinguished service of individuals and institutions which have had significant impact on the public securities business at the federal, state or local level.
 "Senator Dodd has played a major role in helping federal, state and local governments to make the most effective use of the public securities markets. As chairman of the Senate Banking Committee's Securities Subcommittee, he has championed government securities reform legislation designed to maintain investor confidence and keep borrowing costs low for the federal government. Senator Dodd also used his leadership to focus attention on the effects of recession on municipal credit quality and the ability of state and local governments to raise money in the capital markets." Mr. R. Fenn Putman, PSA vice chairman, said in presenting the award to Sen. Dodd.
 Leland C. Brendsel, Freddie Mac chairman and chief executive officer and James A. Johnson, Fannie Mae chairman and chief executive officer, accepted the awards on behalf of their corporations. The two agencies were honored for their work over the last two decades in making home ownership more available and less costly to millions of Americans.
 Daniel Kearney, group executive for Aetna Life & Casualty and a former president and CEO of the Resolution Trust Corporation Oversight Board, presented the awards.
 "This PSA Public Service Award is presented in recognition of the contributions of Freddie Mac and Fannie Mae in channeling hundreds of billions of dollars to the mortgage market through the development of innovative mortgage instruments and other financing programs. Their securities are the underpinnings of today's liquid and dynamic mortgage securities market that assures a continuous capital flow to this vital sector of our economy and makes housing more available and less costly for millions of Americans," Mr. Kearney said.
 Senator Dodd was cited as the driving force behind Senate passage of the Government Securities Act Amendments of 1993. The bill would permanently extend the treasury department's rule-making authority, make several regulatory changes and bolster the confidence of investors in the huge government securities market. Senator Dodd has worked effectively to highlight the importance of market integrity in keeping borrowing costs low for the federal government. His subcommittee also provided a public forum for discussion about the important role municipal securities play in helping pay for state and local government services at the lowest possible cost.
 PSA is the international trade association of banks and brokerage firms which deal in mortgage and other asset-backed securities, U.S. government and federal agency securities, municipal securities, and money market instruments.
 -0- 10/13/93
 /CONTACT: Joseph Sims or Caroline Benn of PSA, 212-809-7000/


CO: Public Securities Association ST: New York IN: SU:

TS-OS -- NY044 -- 1672 10/13/93 12:21 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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