Ideally it would make sense for something to change before April 1st . I think the change will be not to make the quarterly NWS payment. As for legislation we arnt going to see anything till next year but simply not making a payment will boost investor confidence
You're right that the loss being in Q4 is what makes annual payments avoid a draw.
I don't know how a loss in Q1-Q3 (under an annual sweep payment scenario) would affect the 60-day negative net worth trigger. It depends on if FHFA updates the books daily. It seems they would have to because if one of the companies' net worth goes positive for even one day the 60-day clock restarts.
I guess the plan is to change the 60-day negative net worth rule to 1 year too? That seems risky.
The 60-day rule is in HERA so it would take Congress to change it. Quite unlikely imo.
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