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Publication Details
Type
Proposed Rulemaking
Document Number
2020-11279
Federal Register Publish Date
06/30/2020
Comment Open Date
05/20/2020
Comment End Date
08/31/2020
Comment Status
Closed
Rulemaking Details
Rulemaking

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

Enterprise Regulatory Capital Framework

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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

Summary

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.

Public Comments people-icon

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

126 items
Date Sort ascending First Name Last Name Organization Comment
N/A
See attached letter.
Email: N/A
Attachment: View Attachment
Damon Smith Credit Union National Association
Please see attached comments.
Email: dsmith@cuna.coop
Attachment: View Attachment
Garth Rieman National Council of State Housing Agencies
On behalf of the nation’s state Housing Finance Agencies (HFAs), the N…
Email: grieman@ncsha.org
Attachment: View Attachment
Nathan Wray N/A
I think it's more important to finalize a rule, even a flawed rule suc…
Email: N/A
Attachment: N/A
Libby Cantrill PIMCO
Please find PIMCO's submission on FHFA's proposed rulemaking on Enterp…
Email: N/A
Attachment: View Attachment
Sheila Bair N/A
Please see attached document.
Email: Sheila@baircooper.com
Attachment: View Attachment
Thomas Aiello National Taxpayers Union
Please see the attached document
Email: thomas.aiello@ntu.org
Attachment: View Attachment
Joanne Gaskin N/A
FICO appreciates the opportunity to submit the attached comment letter…
Email: N/A
Attachment: View Attachment
Thomas Helsel N/A
To whom it may concern, There have been many comments submitted so the…
Email: tomdhels@gmail.com
Attachment: N/A
Dallin Merrill SFA
Please see attached the full comment letter and executive summary from…
Email: dallin.merrill@structuredfinance.org
Attachment: View Attachment
R.J. Lehmann R Street Institute
The attached are comments from the R Street Institute and Taxpayers fo…
Email: rlehmann@rstreet.org
Attachment: View Attachment
Robert Morse Bridge Investment Group
Please see attached comments from Bridge Investment Group
Email: robert.morse@bridgeig.com
Attachment: View Attachment
Dennis Kelleher Better Markets
Please see the attached letter for the comments of Better Markets, Inc…
Email: mhughes@bettermarkets.com
Attachment: View Attachment
Robert Dearborn RTD Real Estate Services, Inc.
The end result of the 2020 Reproposal Captal Rule is approximately 77%…
Email: Robert.dearborn@verizon.net
Attachment: N/A
J Angel FnF Fellow Travelers
Thank you for a yeoman's effort in advancing the future of our GSEs. Y…
Email: N/A
Attachment: N/A
Frank Nutter Reinsurance Association of America
The comment letter of the Reinsurance Association of America is attach…
Email: austin@reinsurance.org
Attachment: View Attachment
Jeanne Radsick California Association of REALTORS
Attached are the California Association of REALTORS' comments on RIN 2…
Email: matthewr@car.org
Attachment: View Attachment
Edward DeMarco Housing Policy Council
Attached please find the comments of the Housing Policy Council.
Email: N/A
Attachment: View Attachment
Richard Neame MS Amlin AG, Bermuda Branch,
please see attached letter
Email: richard.neame@msamlin.com
Attachment: View Attachment
Lesli Gooch Manufactured Housing Institute
Please see attached letter.
Email: N/A
Attachment: View Attachment
Kyle Draeger DUS Advisory Council
Please see attached
Email: kyle.draeger@cbre.com
Attachment: View Attachment
Ken Crerar Council of Insurance Agents and Brokers
Please see the attached comment letter.
Email: blaire.bartlett@ciab.com
Attachment: View Attachment
Joe Monaghan Aon
Please find Aon's response to the FHFA 2020 Proposed Capital Rule.
Email: joseph.monaghan@aon.com
Attachment: View Attachment
Steve Pociask American Consumer Institute
Attached is the American Consumer Institute's comments to RIN 2590-AA9…
Email: steve@theamericanconsumer.org
Attachment: View Attachment
Gary Hindes N/A
Please see attached letter.
Email: ghindes@comcast.net
Attachment: View Attachment