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Enterprise Regulatory Capital Framework

Open Date:
Open for comment 5/20/2020
All comments are due by 8/31/2020
Notice of Proposed Rulemaking
Capital Standards; Fannie Mae; Freddie Mac; Regulation; Mortgage
Fannie Mae; Freddie Mac
Document Number:
12 CFR Part 1240
CFR Description:
Capital Adequacy of Enterprises
Federal Register Publish Date:
View Document:
/SupervisionRegulation/Rules/RuleDocuments/Ent-Reg-Capital-Frmwk-NPR-Updated-Vsn.pdf|1.91 MB;
Contact Information:

FOR FURTHER INFORMATION CONTACT:  Naa Awaa Tagoe, Senior Associate Director, Office of Financial Analysis, Modeling & Simulations, (202) 649-3140, NaaAwaa.Tagoe@fhfa.gov; Andrew Varrieur, Associate Director, Office of Financial Analysis, Modeling & Simulations, (202) 649-3141, Andrew.Varrieur@fhfa.gov; or Miriam Smolen, Associate General Counsel, Office of General Counsel, (202) 649-3182, Miriam.Smolen@fhfa.gov. These are not toll-free numbers.  If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

Related Documents:
/Videos/Pages/FHFA-Re-Proposed-Capital-Rule-Webinar.aspx|5.14 KB;

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SUMMARY:  The Federal Housing Finance Agency (FHFA or the Agency) is seeking comments on a new regulatory capital framework 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 framework would consist of risk-based capital and leverage ratio requirements, with capital buffers on certain of these requirements. The risk-based capital requirements would include requirements for credit risk, market risk, and operational risk. The leverage ratio requirements would provide a credible backstop to the risk-based capital requirements. An Enterprise’s capital distributions and employment-based discretionary bonus payments would be subject to limits if the Enterprise does not maintain regulatory capital in excess of the prescribed capital buffer amounts. The proposed rule would also make conforming amendments to definitions in FHFA’s regulations for assessments and minimum capital and would also remove the Office of Federal Housing Enterprise Oversight’s (OFHEO) regulation on capital for the Enterprises.

DATES:  FHFA invites interested parties to submit comments on the proposed rule on or before August 31, 2020.

Link to Fact Sheet

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