The regulator of Fannie Mae and Freddie Mac said it is directing the troubled GSEs to move the trading of their stocks to the Over-the-Counter Bulletin Board market while declining to answer questions about a reverse stock split.

"We're not getting into that," said a Federal Housing Finance Agency (FHFA) spokeswoman when asked why the regulator didn't direct the two mortgage giants to declare a reverse stock split. Firms listed on the 'Pink Sheets' market are not required to file any financial statements with the Securities and Exchange Commission.

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