Should Fannie, Freddie be labeled ‘systemically important’?
The 68-page report was prepared in response to an April memorandum from President Donald Trump that tasked the Treasury with reviewing the FSOC’s processes for handing out the systemically important.
The Committee on Banking, Housing, and Urban Development took some of the first steps in ensuring that reforming fannie mae and Freddie Mac will finally. amount of capital maintained by global.
Fannie and Freddie are undeniably major generators of systemic risk and need to be treated as such. Third : Fannie and Freddie must explicitly pay for the indubitable guaranty they enjoy from the.
· ”One of the things we are trying to do is figure out how our practices compare to other financial regulators’ to make sure we’re on par,” he said. He added that it would be “appropriate for FSOC to deliberate on whether Fannie and Freddie should be designated” as systemically important financial institutions.
There is nothing wrong with this practice, per se, but government policy should not bias the. But the platform – if it replaces Fannie and Freddie – would certainly be what Dodd-Frank calls a.
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Designate them as the Systemically Important Financial Institutions (SIFIs) they indubitably are. Fannie and Freddie.have conclusively demonstrated their ability to generate huge systemic risk. They also say Fannie and Freddie should no longer have special privileges.
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"If Fannie and Freddie are not SIFIs, then nobody in the world is a SIFI, and if any institution is a SIFI, then so are Fannie and Freddie," Pollock said in his prepared testimony. "Addressing their systemic risk through designation as a SIFI would logically match their systemically important role and riskiness."
the privilege of appearing today to share my views on whether Fannie Mae and Freddie Mac (the housing Government Sponsored Enterprises, or GSEs) should be designated as systemically important financial institutions (sifis).
The Senate Committee on Banking, Housing, and Urban Affairs held a hearing on Tuesday titled "Should Fannie Mae and Freddie Mac be Designated as Systemically Important Financial Institutions?"
A year after enactment, we still do not know which firms are going to be labeled "systemically important;" which nonbanks are. But consider that the law said the same for Fannie Mae and Freddie Mac.