NEW YORK (Standard&Poor's CreditWire) March 23, 2000-- Standard&Poor's today affirmed its triple-'A' ratings on the rated debt securities of Fannie Mae, the Federal Home Loan Mortgage Corp. (Freddie Mac), and the consolidated obligations of the Federal Home Loan Banks. Standard&Poor's also affirmed its 'A-1'-plus short-term ratings on the debt of the Federal Home Loan Mortgage Corp. and Federal Home Loan Banks. The outlooks remain stable. The ratings reflect the implied U.S. government support for the securities of these government-sponsored enterprises (GSEs) as elaborated in the charters and governing legislation for these entities. Should Congress, through legislation, materially change the relationship between the government and the housing GSEs or lessen the implied U.S. government support
