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Enterprise Regulatory Capital Framework – Commingled Securities, Multifamily Government Subsidy, Derivatives, and Other Enhancements

Open Date:
Open for comment 3/13/2023
All comments are due by 5/12/2023
Notice of Proposed Rulemaking
Fannie Mae; Freddie Mac
Document Number:
12 CFR Part 1240
CFR Description:
Federal Register Publish Date:
View Document:
/SupervisionRegulation/Rules/RuleDocuments/ERCF NPRM for Web.pdf|807.5 KB;
Contact Information:

FOR FURTHER INFORMATION CONTACT:  Andrew Varrieur, Senior Associate Director, Office of Capital Policy, (202) 649-3141, Andrew.Varrieur@fhfa.gov; Christopher Vincent, Principal Financial Analyst, Office of Capital Policy, (202) 649-3685, Christopher.Vincent@fhfa.gov; or James Jordan, Associate General Counsel, Office of General Counsel, (202) 649-3075, James.Jordan@fhfa.gov.  These are not toll-free numbers.  For TTY/TRS users with hearing and speech disabilities, dial 711 and ask to be connected to any of the contact numbers above.​

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SUMMARY:  The Federal Housing Finance Agency (FHFA or the Agency) is seeking comments on a notice of proposed rulemaking (proposed rule) that would amend several provisions in the Enterprise Regulatory Capital Framework (ERCF) for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac, and with Fannie Mae, each an Enterprise).  The proposed rule would include modifications related to guarantees on commingled securities, multifamily mortgage exposures secured by government-subsidized properties, derivatives and cleared transactions, and credit scores, among other items.

DATES:  Comments must be received on or before May 12, 2023.

Submit a Comment
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