Fannie, Freddie debt fears could have sparked run

Central bankers' fears over the collapse of Fannie Mae and Freddie Mac threatened to lead to sales of US agency debt, the scale of which could have sparked a run, the US regulator responsible for the two government-sponsored enterprises (GSEs) has said.

Fannie Mae's and Freddie Mac's debt is primarily held by US investors, but a high proportion is held internationally, mostly by central banks.

Jim Lockhart, the director of the Federal Housing Finance Agency, which oversees Fannie, Freddie and

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