Enterprise Regulatory Capital Framework

Date

12/17/2020

Number

RIN-2590-AA95

Group

Fannie Mae

Freddie Mac

CFR

12 CFR Parts 1206, 1225, 1240, and 1750

CFR Description

ASSESSMENTS; ENTERPRISE CAPITAL REQUIREMENTS

Effective Date

Tue, 02/16/2021 - 12:00

Enterprise Capital Requirements

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. The mailing address is: Federal Housing Finance Agency, 400 Seventh Street, SW, Washington, D.C. 20219. 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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

SUMMARY: The Federal Housing Finance Agency (FHFA or the Agency) is proposing a new regulatory capital framework for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises), which includes a new framework for risk-based capital requirements and two alternatives for an updated minimum leverage capital requirement. The risk-based framework would provide a granular assessment of credit risk specific to different mortgage loan categories, as well as market risk, operational risk, and going-concern buffer components. The proposed rule would maintain the statutory definitions of core capital and total capital.

FHFA has suspended the Enterprises' capital requirements since the beginning of conservatorship, and FHFA plans to continue this suspension while the Enterprises remain in conservatorship. Despite this suspension, FHFA believes it is appropriate to update the Agency's standards on Enterprise capital requirements to provide transparency to all stakeholders about FHFA's supervisory view on this topic. In addition, while the Enterprises are in conservatorship, FHFA will expect Fannie Mae and Freddie Mac to use assumptions about capital described in the rule's risk-based capital requirements in making pricing and other business decisions. Feedback on this proposed rule will also inform FHFA's views in evaluating Enterprise business decisions while the Enterprises remain in conservatorship.

DATES: Comments must be received on or before November 16, 2018.

Public Comments

Below are a compilation of public comments made on this publication.

81 items

CSV

Date Sort ascending	First Name	Last Name	Organization	Comment
11/15/18	Thomas	Wade	American Action Forum	Re: Enterprise Capital Requirements (RIN) 2590–AA95 To Whom it May Con… Email: N/A Attachment: View Attachment
11/15/18	Mitria	Wilson	Credit Union National Association	Please see the attached comment letter containing the views of the Cre… Email: mwilson@cuna.coop Attachment: View Attachment
11/15/18	William	Ackman	Pershing Square	See attached response Email: N/A Attachment: View Attachment
11/15/18	Donald	King	DUS Advisory Council	Please see attached Email: N/A Attachment: View Attachment
11/15/18	Ann	Kossachev	NAFCU	Attached please find NAFCU's comment letter regarding the proposed rul… Email: akossachev@nafcu.org Attachment: View Attachment
11/15/18	Celeste	Brown	Fannie Mae	Comments attached Email: celeste_brown@fanniemae.com Attachment: View Attachment
11/14/18	Benjamin	Katz	N/A	(RIN) 2590–AA95, Email: N/A Attachment: View Attachment
11/14/18	Ron	Haynie	Independent Community Bankers of America	See attached file. Email: ron.haynie@icba.org Attachment: View Attachment
11/14/18	Matthew	Kelly	N/A	i one of the few that purchased common shares before the net sweep.… Email: kellymatt370@gmail.com Attachment: N/A
11/09/18	Matt	Wildy	N/A	1.) Foundationally speaking--first reference the accounting documents… Email: mwildy@mloausa.com Attachment: N/A
11/09/18	William	Walker	Walker & Dunlop, Inc.	See attached response. Email: wwalker@walkerdunlop.com Attachment: View Attachment
10/26/18	Andrew	Rippert	N/A	See attached. Email: N/A Attachment: View Attachment
10/18/18	Andrew	Davidson	AD&Co	See attached response. Email: nancy@ad-co.com Attachment: View Attachment
09/11/18	Timothy	Howard	Fannie Mae (retired)	Attached is my comment on FHFA's proposed capital rule for Fannie Mae… Email: jtimothyhoward@gmail.com Attachment: View Attachment
09/05/18			Community Home Lenders Association (CHLA)	See attached. Email: N/A Attachment: View Attachment
08/30/18			Meeting with Arch Capital Services, Inc.	See attached meeting summary Email: N/A Attachment: View Attachment
08/27/18	Holden	Walker III	N/A	The proposed Enterprise Capital Requirements are acceptable as written… Email: N/A Attachment: N/A
08/22/18	Capital Requirements based on Utility and General	Utility and General Business Models	N/A	Capital Requirements based on Utility and General business Models For… Email: N/A Attachment: N/A
08/17/18	Xander	Arena	N/A	I've now followed the saga of Fannie/Freddie bailout and conservatorsh… Email: xander.arena@gmail.com Attachment: N/A
08/07/18	Jeffrey	Wood	Personal	Since Fannie and Freddie are not banks, they should not be capitalized… Email: jeff@usadman.com Attachment: N/A
08/03/18			Meeting with Walker & Dunlop, Inc.	See attached meeting summary Email: N/A Attachment: View Attachment
08/01/18	Landon	Parsons	Moelis & Company LLC	See attached comment Email: N/A Attachment: View Attachment
07/28/18	Travis	Hicks	N/A	Fannie and Freddie are not banks, and should not have the capital requ… Email: N/A Attachment: N/A
07/28/18	Michael	Montague	N/A	For 10 years the Gov has put the taxpayers at risk, 2008 Gov invested… Email: mvmontague@hotmail.com Attachment: N/A
07/27/18	Jeffrey	Wood	N/A	Fannie and Freddie are not banks, and should not have the capital requ… Email: jwood1@usadman.com Attachment: N/A