Fannie Mae-No Politics (FNMA)

[kthomp19]

And as we know from 2018 - DTA's do count as capital/net worth.

But they're not on the list for core capital.

There is also the possibility that Treasury simply keeps the $25B and just waives the next $25B of commitment fees, rather than messing with DTAs or tax credits. That would never show up on the balance sheet at all, and therefore wouldn't count towards any type of regulatory capital.