The writedown will require the mortgage giant to seek a $3.7 billion cash infusion from the Treasury, its first draw since 2012.
Shareholder groups say the committee would “prevent poor stewardship” and avoid a repeat of mistakes that led to the bank's 2008 bailout.
The total loss-absorbing capacity rule is "one of the last critical safeguards that make up the core" of the Fed's post-financial crisis reforms.
The liquidity support was approved under the EC’s 'extraordinary crisis rules for state aid to banks.'
Brazil's federal goverment steps in after the state of Rio de Janeiro declares its finances are a "public calamity."
The fund has been pushing for a restructuring as a condition of giving its support to Greece's latest bailout package.
Like other oil-producing countries, the OPEC member is struggling to plug the revenue gap caused by the oil price slump.
The fund now has the option of short-term debt 're-profiling' for countries whose bailout needs exceed normal IMF borrowing levels.
Regulator says Ebrahim Shabudin was so "fixated" on protecting United Commercial Bank's reputation that he hid millions of dollars in losses.
An International Monetary Fund study criticizes the latest Greek bailout, calling for measures to restructure the country's "highly unsustainable" debt.
Prime minister announces referendum on new bailout deal as deadline for $1.7 billion debt payment looms.
Weekend talks break down after after Greece claims creditors’ representatives had no authority to negotiate a deal.
