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OFHEO RIN: 2550-AA02 Publication ID: Spring 1999 
Title: Risk-Based Capital 
Abstract: Title XIII of the Housing and Community Development Act of 1992, Pub. L. No. 102-550, known as the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, 12 U.S.C. 4501 et seq., requires the Office of Federal Housing Enterprise Oversight (OFHEO) to develop a risk-based capital regulation for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (collectively, the Enterprises). To discharge this responsibility, OFHEO must develop and implement a risk-based capital "stress test" that determines the amount of capital that an Enterprise must hold in order to maintain positive capital throughout a hypothetical 10-year period of economic stress (stress period). A notice of proposed rulemaking was published on June 11, 1996, with a 90-day comment period. The comment period was later extended to October 24, 1996. The proposed regulation includes a discussion of the basis for identifying the benchmark loss experience which will provide the basis for calculating credit losses during the stress period. The proposed regulation also discusses OFHEO's housing price index which is proposed to be used to calculate the seasoning of mortgages. A subsequent second proposed regulation will include the details of all other aspects of the risk-based capital stress test. 
Agency: Office of Federal Housing Enterprise Oversight(OFHEO)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1750   
Legal Authority: 12 USC 4611    12 USC 4513(b)(1)   
Legal Deadline:
Action Source Description Date
Final  Statutory    12/01/1994 
Timetable:
Action Date FR Cite
ANPRM  02/08/1995  60 FR 7468   
ANPRM Comment Period End  05/09/1995  60 FR 7468   
NPRM  06/11/1996  61 FR 29592   
NPRM Comment Period Extended  08/19/1996  61 FR 42824   
NPRM Comment Period Extended to  10/24/1996    
Second NPRM  04/13/1999  64 FR 18083   
Second NPRM Comment Period End  08/11/1999  64 FR 18083   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Included in the Regulatory Plan: No 
Related RINs: Related to 2550-AA23 
Agency Contact:
Anne E. Dewey
General Counsel
Office of Federal Housing Enterprise Oversight
1700 G Street NW,
Washington, DC 20552
Phone:202 414-3800