Profiles of Existing Government Corporations - US Government ...

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CORPORATION PROFILE
TREASURY STATUS: When retiring common stock, FHLMC must deposit
sufficient funds in the U.S. Treasury. After dasignation by the
Secretary of Treasury, FHLMC shall be a depository of public
money, under such regulations as may be prescribed by the
Treasury, and may also be employed as a fiscal or other agent of
the United States.
RRPCRTING STATUS: None specified in enabling legislation.
LITIGATION STA’llJS: FHLMC may sue or be sued, complain and
defend, in any stats, federal or other court. It may also
settle, adjust, and ComprOmiSe, and vith or without consideration
or benefit, release or waive, in whole or in part, any claim or
demand against the Corporation.
FINANCIU AUDIT RRQUIRRRRNTS: The General Accounting Office
(GAO) shall perform a COmmOrCial-type audit as prescribed by the
Comptroller General of the United States.
FINANCIAL AUDITOR: GAO: Arthur Andersen L Co., CPA8
oTIIp( AUDIT RRQUIRRRRNTS: None specified in enabling
legislation.
GTRRRADDITDR: None specified in enabling legislation.
ADDITRD: CPA (Arthur Andersen & Co., Decsmber 31, 1987)
OPINION: Unqualified
ACCODNTING PRINCIPLRS: Accounting records are 8aintainsd on an
accrual bSSi8 and financial statement8 arm prepared in accordance
with generally accepted accounting principles (GAAP).'
MVENUEB: S2,227,000,000b
APPROPRIATIONS -ED: Non8
EXPENSES: $1,747,000,000=
NEr IN- (LOSS): S301,000,000d
-1sRuRD: Non8
IOANS ISSDRD: None
WAN PA- RRCRIVRD: $2,317,000,000*
LOAN IDssEs: $31,000,000f
IBAN CONUITNRtFfS: None
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