The adjusted Total Capital that I've been posting, to meet the Risk-Based Capital requirement, assumes that the Deferred Income is amortized into earnings in one fell swoop. After Income tax, it's Retained Earnings (Core Capital)
Likewise, these are the figures of Core Capital after this addition after taxes:
FNMA: +$18B to $152B.
$38B Core Capital Surplus over Minimum Leverage Capital requirement.
FMCC: +$39B to $150B.
$58B Core Capital Surplus over Minimum Leverage Capital requirement.
The difference between Total Capital and C.C. is the Allowance for Loan Losses that it looks like FnF record as Tier 2 Capital.
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