Freddie and lender trade groups circled the wagons in opposition to many of the mortgage-related provisions in a proposed rule to change capital requirements for large banks.
A tangled web of climate risk, shady insurers, shoddy ratings services and lax insurance rules at the GSEs may snarl Fannie Mae and Freddie Mac in unexpected counterparty risk.
The former FHFA director says Congress will never act, but that the GSEs should create subsidiaries, then complete an initial public offering to get out of government control.
Small depositories warn changes at the FHLBs could increase members’ costs and reduce access to FHLB funding. Worse, these changes could take place without formal rulemaking.