Federal Housing Finance Agency: Enterprise Capital Requirements
Summary
The Federal Housing Finance Agency (FHFA) and the Office of Federal Housing Enterprise Oversight have issued a proposed rule regarding enterprise capital requirements. This proposal outlines new regulatory capital framework for enterprises, with specific details to be determined.
What changed
The Federal Housing Finance Agency (FHFA), in conjunction with the Office of Federal Housing Enterprise Oversight, has published a proposed rule concerning enterprise capital requirements. This document, published in the Federal Register on August 3, 2018, initiates a regulatory process to establish a new capital framework for enterprises. The specific details of these requirements are expected to be further elaborated upon through this rulemaking process.
This proposed rule signifies a potential shift in the regulatory landscape for entities under FHFA's purview. Compliance officers should monitor the development of this proposed rule to understand the forthcoming capital requirements, which may necessitate adjustments to financial planning, risk management, and reporting. As this is a proposed rule, there will likely be a comment period, after which a final rule will be issued, establishing definitive compliance obligations and potential effective dates.
What to do next
- Monitor the Federal Register for updates on the proposed rule regarding enterprise capital requirements.
- Review the proposed rule to understand potential impacts on capital adequacy and financial operations.
- Prepare to submit comments during the public comment period if applicable.
Source document (simplified)
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Proposed Rule
Enterprise Capital Requirements
A Proposed Rule by the Federal Housing Finance Agency and the Federal Housing Enterprise Oversight Office on 08/03/2018
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1.
Document Details Published Content - Document Details Agencies Federal Housing Finance Agency Department of Housing and Urban Development Office of Federal Housing Enterprise Oversight CFR 12 CFR 1206 12 CFR 1240 12 CFR 1750 Document Citation 83 FR 38085 Document Number 2018-16654 Document Type Proposed Rule Pages 38085-38086
(2 pages) Publication Date 08/03/2018 RIN 2590-AA95 Published Content - Document DetailsPDF Official Content
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Document Details Published Content - Document Details Agencies Federal Housing Finance Agency Department of Housing and Urban Development Office of Federal Housing Enterprise Oversight CFR 12 CFR 1206 12 CFR 1240 12 CFR 1750 Document Citation 83 FR 38085 Document Number 2018-16654 Document Type Proposed Rule Pages 38085-38086
(2 pages) Publication Date 08/03/2018 RIN 2590-AA95 Published Content - Document DetailsDocument Dates Published Content - Document Dates Comments Close 11/16/2018 Dates Text The comment period for the proposed rule published at 83 FR 33312 (July 17, 2018) is extended. Written comments must be received on or before November 16, 2018. Published Content - Document Dates
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Published Document: 2018-16654 (83 FR 38085) This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.
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Federal Housing Finance Agency
- 12 CFR Parts 1206 and 1240
Department of Housing and Urban Development
Office of Federal Housing Enterprise Oversight
- 12 CFR Part 1750
- RIN 2590-AA95
AGENCY:
Federal Housing Finance Agency; Office of Federal Housing Enterprise Oversight; Department of Housing and Urban Development.
ACTION:
Notice of proposed rulemaking; extension of comment period.
SUMMARY:
On July 17, 2018, the Federal Housing Finance Agency (FHFA) published in the Federal Register a notice of proposed rulemaking for public comment that proposes a new regulatory capital framework for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). The comment period was set to expire on September 17, 2018. This notice extends the comment period by an additional 60 days to allow the public additional time to comment on the proposed rule.
DATES:
The comment period for the proposed rule published at 83 FR 33312 (July 17, 2018) is extended. Written comments must be received on or before November 16, 2018.
ADDRESSES:
You may submit your comments on the proposed rule, identified by regulatory information ( printed page 38086) number (RIN) 2590-AA95, by any one of the following methods:
- Agency website: www.fhfa.gov/open-for-comment-or-input.
- Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for submitting comments. If you submit your comment to the Federal eRulemaking Portal, please also send it by email to FHFA at RegComments@fhfa.gov to ensure timely receipt by FHFA. Include the following information in the subject line of your submission: Comments/RIN 2590-AA95.
- Hand Delivered/Courier: The hand delivery address is: Alfred M. Pollard, General Counsel, Attention: Comments/RIN 2590-AA95, Federal Housing Finance Agency, Eighth Floor, 400 Seventh Street SW, Washington, DC 20219. Deliver the package at the Seventh Street entrance Guard Desk, First Floor, on business days between 9 a.m. and 5 p.m.
- U.S. Mail, United Parcel Service, Federal Express, or Other Mail Service: The mailing address for comments is: Alfred M. Pollard, General Counsel, Attention: Comments/RIN 2590-AA95, Federal Housing Finance Agency, Eighth Floor, 400 Seventh Street SW, Washington, DC 20219. Please note that all mail sent to FHFA via U.S. Mail is routed through a national irradiation facility, a process that may delay delivery by approximately two weeks. For any time-sensitive correspondence, please plan accordingly.
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, DC 20219. The telephone number for the Telecommunications Device for the Hearing Impaired is (800) 877-8339.
SUPPLEMENTARY INFORMATION:
Comments
FHFA invites comments on all aspects of the proposed rule and will take all comments into consideration before issuing a final rule. Copies of all comments will be posted without change, and will include any personal information you provide such as your name, address, email address, and telephone number, on the FHFA website at http://www.fhfa.gov. In addition, copies of all comments received will be available for examination by the public through the electronic rulemaking docket for this proposed rule also located on the FHFA website.
Background
On July 17, 2018, FHFA published in the Federal Register a proposed rule proposing a new regulatory capital framework for Fannie Mae and Freddie Mac which includes a new framework for risk-based capital requirements and two alternatives for an updated minimum leverage capital requirement. See 83 FR 33312. The comment period for the proposed rule was originally set to expire on September 17, 2018. FHFA is extending the comment period an additional 60 days, changing the deadline for submitting comments to November 16, 2018.
Dated: July 30, 2018.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
[FR Doc. 2018-16654 Filed 8-2-18; 8:45 am]
BILLING CODE 8070-01-P
Published Document: 2018-16654 (83 FR 38085)
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