18 Jun 2010

Loan companies delist from NYSE

6:08 am on 18 June 2010

US home loan companies Fannie Mae and Freddie Mac are to cease trading on the New York Stock Exchange.

The state-sponsored lenders were ordered to leave the exchange by the Federal Housing Finance Agency.

Both continue to incur heavy losses in the aftermath of the financial crisis.

Their share prices have slumped to the NYSE's minimum level of $US1 per share - requiring them to try to boost their stock, or delist.