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FHFA RIN: 2590-AB09 Publication ID: Fall 2020 
Title: ●Enterprise Liquidity Requirements 
Abstract:

Congress established the Federal Housing Finance Agency (FHFA) to exercise general regulatory authority over Freddie Mac and Fannie Mae (the Enterprises), which are chartered by federal statutes to serve public missions. These public missions include providing "stability” and "ongoing assistance” to the secondary market for residential mortgages "by increasing the liquidity of mortgage investments.” FHFA has statutory duty to oversee that Enterprise operations are consistent with safety and soundness. As part of its supervisory duties, FHFA is proposing to establish minimum requirements to ensure adequacy of Enterprise liquidity. Maintenance of adequate liquidity is necessary to ensure that the Enterprises maintain continued capacity to meet their financial obligations and continued ability to fulfill their statutory purposes during periods of market stress when debt markets may be illiquid. The proposed rule would propose minimum Enterprise liquidity requirements sufficient to continue meeting their financial obligations in periods of short term and long term debt market stress. The minimum liquidity requirements would define eligible assets that would qualify for liquidity and the metrics for determining compliance. The proposed rule would also provide for supervisory and enforcement processes to address non-compliance of the minimum requirements.

 
Agency: Federal Housing Finance Agency(FHFA)  Priority: Economically Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: Independent agency 
CFR Citation: 12 CFR 1241   
Legal Authority: 12 U.S.C. 4511(b)    12 U.S.C. 4513(a)    12 U.S.C. 4513b    12 U.S.C. 4514    12 U.S.C. 4526    12 U.S.C. 4631-4636   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2020 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.fhfa.gov; www.regulations.gov   Public Comment URL: www.fhfa.gov  
RIN Data Printed in the FR: No 
Agency Contact:
Mark Laponsky
Deputy General Counsel
Federal Housing Finance Agency
400 Seventh Street SW,
Washington, DC 20219
Phone:202 649-3054
TDD Phone:800 877-8339
Email: mark.laponsky@fhfa.gov