Thursday, August 05, 2021 12:21:08 AM
Firstly, it was transferred to the conservator.
Secondly, the law restricts Capital distributions (like dividends) to everybody when they are undercapitalized.
Thirdly, the Capital rule, effective February 16th, 2021, also restricts the payouts (Table 8) until FnF meet 25% of the Capital buffers and it was posted yesterday that as of June 30th, 2021, FnF have a $429 billion deficit of Total Capital over this threshold.
Lastly, the conservator's power is about a recapitalization: put FnF in a sound condition.
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