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U.S. housing finance chief says Congress should create explicit guarantee for Fannie, Freddie

Fannie, Freddie@

WASHINGTON, June 13 (Reuters) - The head of the U.S. Federal Housing Finance Agency said on Thursday that Congress should create an explicit guarantee for government-sponsored enterprises Fannie Mae and Freddie Mac.

"The explicit guarantee should be limited, clearly defined, and paid for," Mark Calabria told an audience in Washington.

"I will take whatever actions I can to fulfill these responsibilities and I will continue working closely with Congress to make the system more resilient and stable through the cycle." (Reporting by Katanga Johnson; Editing by Peter Cooney)