Today Freddie Mac reported a net loss of $354 million and a comprehensive loss of $200 million for the first quarter of 2016. This loss was mainly caused by the GAAP accounting measurement differences associated with our use of derivatives to hedge interest rate risk, whereby the derivatives are fair valued but many of the assets and liabilities being hedged are not. Importantly, our business results continued to be strong, reflecting our transformation to be a more competitive company.
For more details about our results and progress, please listen to a recording of our call with the media or read the additional resources below.
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