The Federal Housing Finance Agency (FHFA) said Monday that the combined debt of Fannie Mae, Freddie Mac, and the Federal Home Loan banks was $6.8 trillion at the end of September, exceeding the total publicly held debt of the United States by $1 trillion.

As of June, the GSEs' combined debt and obligations totaled $6.6 trillion, exceeding the publicly held debt of the United States by $1.3 trillion. The FHFA also said Monday it has "successfully integrated" the Federal Housing Finance Board, the Office of Federal Housing Enterprise Oversight (OFHEO, and staff from the Department of Housing and Urban Development in less than 90 days. In a 180-page performance and accountability report, the agency, created in July by the Housing and Economic Recovery Act, said an independent outside audit "found no material weaknesses" in the Finance Board's internal control structure.

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