Fannie Mae-No Politics (FNMA)

[FOFreddie]

Hi Guido,

I am not sure if you noticed it but the Freddie 10K referenced a new Capital Planning Rule that will be done with Comment in the next couple of weeks.

The plan requires FNMA and FMCC to come up with a 5 year capital plan to meet capital requirements by May 20th of each year for fiscal years starting in Oct of each year.

It is on pages 8 to 10 of the cited rule:

https://www.fhfa.gov/SupervisionRegulation/Rules/RuleDocuments/Enterprise%20Capital%20Planning%20NPR%2012-15-21%20to%20Fed%20Reg_Website.pdf

This seems to mean that we will see planned capital raises as part of Capital Plans that need to be updated each year.