Freddie Mac released its 3Q06 Quarterly Refunding plans last week. In the report, the GSE disclosed that in terms of its reference REMIC securities, it expects to issue at least one, but no more than three deals during the third quarter.
The Agency would prefer to issue the reference REMICs according to its 2006 funding calendar which schedules potential reference REMICs during the weeks of July 17, Aug. 14, and Sept. 18.
In a press release from the firm, officials stated that every month they will announce whether they plan to use the optional issuance window, and when relevant, confirm the timing of the next reference REMIC. The Agency usually makes the announcement on the first business day of the month. For July, however, Freddie Mac was set to announce its plans last Friday due to the Fourth of July holiday.
Freddie Mac has issued seven Reference REMICs to date, with an average guaranteed maturity class size of $2.3 billion.
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