Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

There's only 1, 2, or 3 ways to raise the money for the over capitalization called for by MC/FSOC, right? Either retain earnings, issue new jps, and/or have UST return some or all of the exproriated funds, right?

This is factually incorrect. The bolded part at least.

Jr. Preferreds do not count towards CET-1, which is the metric FHFA is using to determine if the GSEs are well-capitalized.

The GSEs will need to issue new Common shares in order for the newly raised funds to count towards CET-1.

And any expropriated funds would come in the form of a tax credit, not capital. So those won't count towards CET-1 either.