Senior Preferred Stock Purchase Agreement (PSPA) (PSPA)

Entered into at the time the conservatorships were created, the PSPAs authorize the Enterprises to request and obtain funds from Treasury, which in turn owns preferred stock in each Enterprise. Under the PSPAs, the Enterprises agreed to consult Treasury concerning a variety of significant business activities, capital stock issuance and dividend payments, ending the conservatorships, transferring assets, and awarding executive compensation.