FSC Restricts Holdings of Bonds of U.S. Mortgage Associations by Insurance Firms

"Despite takeover of Fannie Mae and Freddie Mac by the U.S. government, the Financial Supervisory Commission (FSC) still ruled yesterday (Sept. 9) that investments by Taiwanese insurance firms in the bonds issued or guaranteed by the two semi-U.S. government financial institutions, as well as Ginnie Mae (or GNMA, Government National Mortgage Association), can not exceed 50% of their total overseas investments or 25% for each of the three companies."