In a major blow to Fannie Mae’s and Freddie Mac’s political lobbying, the Office of Federal Housing Enterprise Oversight this week received the Bush administration’s go-ahead to finalize a long-delayed risk-based capital regulation governing the two government-sponsored enterprises. The mammoth 567-page regulation was slated to be released publicly late this week. Fannie Mae and Freddie Mac will have a year in which to comply with the new capital standard.