Changes are in the works for Fannie, Freddie interest-rate swaps

The Federal Housing Finance Agency, which has oversight of Fannie Mae and Freddie Mac, expects the government-owned mortgage companies to start using a clearinghouse for interest-rate swaps, sources said. The move could reduce revenue at Wall Street firms while generating business for companies that run exchanges. The possible changes have prompted bank executives, Fannie and Freddie officials, exchange leaders and other industry insiders to scramble to protect their interests.

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