The Federal Housing Finance Agency (FHFA) has withdrawn three proposed rules put forth during the Biden administration relating to the government-sponsored enterprises and the Federal Home Loan Banks (FHLBanks).
The withdrawals involve a 2021 proposed rule that would have established minimum liquidity requirements that would have enabled Fannie Mae and Freddie Mac to continue meeting their financial obligations during stretches of short-term and long-term debt market stress; a 2024 proposed rule that would have amended the FHFA’s regulations covering the selection and responsibilities of the FHLBanks’ boards of directors; and a 2024 proposed rule that would have modified limits on FHLBank extensions of unsecured credit in their on- and off-balance sheet and derivative transactions.
The FHFA made the announcement of the withdrawals in the Federal Register, stating it no longer planned to issue final rules for the proposals.
The closings of the offices shrink the independence of the office. Nothing appears more surprising to those who consider human affairs with a philosophical eye than the ease with which the few govern the many, and the implicit submission with which men resign their own sentiments and passions to those of their rulers. We must not lose sight of the original purpose of these enterprises, which is to expand homeownership and support the lenders.
Do not avenge someone else’s perceived wrong, sacrificing the greater good.
Very well put. The petty nature of this administration is mindboggling.
First of all they’re proposed, which means the last admin didn’t see fit to enact them themselves. Are you aware of the actual details? I’m independent so I don’t think I’m a raving fan of either party. Commenting while not knowing the details behind the issue is the real issue. Personal accountability is to first seek to understand.