Fannie Mae-No Politics (FNMA)

[LuLeVan]

I wrote, as you correctly quoted: "What counts for recap/release is CET1."

What you wrote does not refute this statement.

I did NOT write that CET1 > 3% is appropriate, as you incorrectly imply.

I would very much like to see capital requirements lowered to 2.5% (HERA minimum).

As for your other insinuation that I did not understand the capital structure, I will not even comment on that.