WASHINGTON—The Federal Housing Finance Agency (FHFA) has published a final rule to amend the Enterprise Regulatory Capital Framework (ERCF).
The rule refines the prescribed leverage buffer amount (PLBA) and risk-based capital treatment of retained credit risk transfer (CRT) securitization framework for the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac.
Of note, the final rule replaces both the fixed leverage buffer and the prudential floor on the risk weight and removes the requirement that an enterprise must apply an overall effectiveness adjustment to its retained CRT exposures, NAFCU noted.
In addition, the FHFA last week re-proposed updated eligibility requirements for the GSEs seller and servicers.
The agency said it plans for this update to provide transparency regarding required capital and liquidity for sellers and servicers with different business models by considering risk exposure from contractual relationships with other sellers and services.
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