FHFA Announces Final Rule Introducing New Public Disclosure Requirements to the Enterprise Regulatory Capital Framework

​​​​Washington, D.C. – The Federal Housing Finance Agency (FHFA) today published a final rule that amends the Enterprise Regulatory Capital Framework (ERCF) by introducing new public disclosure requirements for Fannie Mae and Freddie Mac (the Enterprises). The requirements include quarterly quantitative and annual qualitative disclosures related to risk management, corporate governance, capital structure, and capital requirements and buffers under the standardized approach.

“By allowing market participants to assess key information about the Enterprises’ risk profiles and associated levels of capital, this final rule will promote transparency and encourage sound risk management practices at the Enterprises,” said Acting Director Sandra L. Thompson. “The rule published today will foster financial stability at the Enterprises and in the broader housing finance market.” 

The Enterprises will publish their first public disclosure reports under the final rule in the first quarter of 2023.  

Link to Final Rule 


The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $7.5 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter, @FHFA, YouTube, Facebook, and LinkedIn.


​Adam​ Russell Adam.Russell@FHFA.gov