Reuters UK
15 Jul 2008
SINGAPORE, July 15 (Reuters) - Singapore banks DBS Group Holdings (DBSM.SI: Quote, Profile, Research), United Overseas Bank (UOBH.SI: Quote, Profile, Research) and Oversea-Chinese Banking Corp (OCBC.SI: Quote, Profile, Research) said on Tuesday they had very low exposure to equity or debt in U.S. mortgage firms Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research).
"Our exposure to Fannie Mae and Freddie Mac is not material," a United Overseas Bank spokeswoman said in a statement. No. 1 bank DBS also said earlier its exposure to the two mortgage firms overall was immaterial.
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