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Fannie and Freddie overseer working on a capital rule

  • Fannie Mae (OTCQB:FNMA -0.8%) and Freddie Mac's (OTCQB:FMCC) overseer says his agency, the Federal Housing Finance Agency is working "on a capital rule that balances the imperative of protecting taxpayers, the mission of supporting liquidity, and the economic incentives of raising private capital."
  • "The FHFA will soon be announcing whether or not the capital rule will be re-proposed and under what terms," Mark Calabria, director of the FHFA said in a speech todaty at a Structured Finance Association meeting in New York.
  • The capital rule is part of the agency's Strategic Plan and Scorecard for Fannie and Freddie. The three objectives of the plan is to focus on their mission of fostering competitive, liquid, efficient, and resilient national housing finance markets; operate in a safe and sound manner appropriate for entities in conservatorship; and prepare for their eventual exists from conservatorship.
  • "Aligning risk to capital must be coupled with building capital to match risk," Calabria said. "This is a precondition for exiting conservatorship."

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