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FHFA | RIN: 2590-AA42 | Publication ID: Fall 2022 |
Title: Incentive-Based Compensation Arrangements | |
Abstract:
FHFA, jointly with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Association, and the Securities and Exchange Commission, is directed by the Dodd-Frank Act to adopt a regulation that will set forth requirements and processes with respect to incentive-based compensation provided to certain employees by covered financial institutions that the agencies regulate, which for FHFA are the Federal National Mortgage Association (Fannie Mae); the Federal Home Loan Mortgage Corporation (Freddie Mac); and the Federal Home Loan Banks, pursuant to section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5641) and sections 1311 and 1318 of the Federal Housing Enterprises Financial Safety and Soundness Act (12 U.S.C. 4511). The regulation will require each regulated entity to disclose to its regulator the structures of its incentive-based compensation arrangements, and would prohibit incentive-based compensation arrangements that encourage inappropriate risk-taking. |
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Agency: Federal Housing Finance Agency(FHFA) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Long-Term Actions |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 12 CFR 1232 | |
Legal Authority: 12 U.S.C. 4511(b) 12 U.S.C. 4513 to 4514 12 U.S.C. 4526 12 U.S.C. 5641 |
Legal Deadline:
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Timetable:
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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; www.regulations.gov |
RIN Data Printed in the FR: No | |
Related Agencies: Joint: TREAS/OCC, FRS, FDIC, null/null, NCUA, SEC; | |
Agency Contact: Richard Oettinger Principal Financial Analyst Federal Housing Finance Agency 400 Seventh Street SW, Washington, DC 20219 Phone:202 649-3797 Email: richard.oettinger@fhfa.gov Dinah Knight Assistant General Counsel Federal Housing Finance Agency 400 Seventh Street SW, Washington, DC 20219 Phone:202 748-7801 Email: dinah.knight@fhfa.gov |