Fannie Mae-No Politics (FNMA)

[obiterdictum]

He also brought up a good point on the difference between regulatory capital and enterprise capital in that they could be released from c-ship if regulatory capital is met.

Correct me if I’m wrong but regulatory capital is whatever FHFA deems to put FnF in a sound and solvent position.

Yes. That is correct.

Any updates on the framework since the comment period?

No. Calabria has yet to propose a final rule.

See:
https://www.fhfa.gov/Media/PublicAffairs/PublicAffairsDocuments/Proposed-Rule-Enterprise-Capital-Fact-Sheet.pdf

https://www.govinfo.gov/content/pkg/FR-2018-07-17/pdf/2018-14255.pdf

https://www.fhfa.gov/SupervisionRegulation/Rules/RuleDocuments/2018_Capital_Extension_83_FR_38085_2018-16654.pdf