CONGRESS

Recommendations

Info

Final Regulations • Regulated Entities (Enterprises and/or Federal Home Loan Banks) CONTINUED Rule/Regulation Title Reference Date (2015) Description/Explanation/Comments Final Amendments to Stress Testing Rule 80 FR 73090; 12 CFR Part 1238 November 24 This regulation amends the stress test regulation that FHFA adopted in 2013 to implement section 165(i) of the Dodd-Frank Act. The amendments modify the start date of the stress test cycles from October 1 of a calendar year to January 1 of the following calendar year. The amendments also modify the dates for FHFA to issue scenarios for the upcoming cycle, the dates for the regulated entities to report the results of their stress tests to FHFA, and the dates for the regulated entities to publicly disclose a summary of their stress test results for the severely adverse scenario. The regulation went into effect on January 1, 2016. Responsibilities of Boards of Directors, Corporate Practices and Corporate Governance Matters 80 FR 72327; 12 CFR Parts 1236, 1239 November 19 This regulation relocates and consolidates prior regulations of FHFA’s predecessor agencies—the Federal Housing Finance Board (Finance Board) and Office of Federal Housing Enterprise Oversight (OFHEO)—that pertain to the responsibilities of boards of directors, corporate practices, and corporate governance matters. The OFHEO regulations addressed corporate governance matters at the Enterprises, while the Finance Board regulations addressed corporate governance matters at the FHLBanks. The final rule consolidates most of those regulations into a new FHFA regulation, parts of which apply to both the FHLBanks and the Enterprises, and parts of which apply only to the FHLBanks or only to the Enterprises. The regulation went into effect on December 21. This regulation implements requirements of the Safety and Soundness Act for FHFA to establish annual housing goals for mortgages purchased by the Enterprises. The final rule: establishes the benchmark levels for each of the housing goals and subgoals for 2015 through 2017; establishes a new housing subgoal for small multifamily properties affordable to low-income families; adds or revises a number of other provisions in the housing goals regulation in order to provide greater clarity about the mortgages that will qualify for the goals or subgoals; makes a number of clarifying and conforming changes which include changes for determining affordability of both single-family and multifamily units; establishes more transparent agency procedures for FHFA guidance on the housing goals; and discusses FHFA’s plans to require more detailed Enterprise reporting to FHFA on the Enterprises' purchases of mortgages on single-family rental housing. The regulation went into effect on October 5. 2015-2017 Enterprise Housing Goals 80 FR 53392; 12 CFR Part 1282 September 3 Federal Home Loan Bank Community Support Program-Administrative Amendments 80 FR 30336; 12 Part CFR 1290 May 28 This regulation amends FHFA’s Community Support Regulation to streamline and simplify the administrative process requirements under the regulation. The amendments replace the prior process of selecting one-eighth of all applicable members for eight quarterly reviews by FHFA over a two-year review cycle, with a new process of FHFA reviewing all applicable members at the same time every two years. The regulation went into effect on June 29. 79 FR 4394; 12 CFR Part 1231 January 28 This regulation amends the Golden Parachute Payments regulation that FHFA published in 2009, and addresses prohibited and permissible golden parachute payments to entity-affiliated parties in connection with the regulated entities. The regulation went into effect on February 27. 56 FEDERAL HOUSING FINANCE AGENCY
SUPERVISION AND OVERSIGHT Final Regulations • Regulated Entities (Enterprises and/or Federal Home Loan Banks) CONTINUED Policy Subject Reference Date (2015) Description/Explanation/Comments Minimum Requirements for Appraisal Management Companies 80 FR 32687; 12 CFR Part 1222 June 9 This rule, adopted jointly by FHFA, the Office of the Comptroller of the Currently, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Consumer Financial Protection Bureau, implements the minimum requirements in the Dodd-Frank Act to be applied by states in the registration and supervision of appraisal management companies. The regulation also implements the requirement in the Dodd-Frank Act for states to report to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council the information required by the Appraisal Subcommittee to administer the new national registry of appraisal management companies. The regulation went into effect on August 10. Housing Trust Fund 80 FR 15885; 12 CFR Part 1251 March 26 This regulation relates to allocations by the Enterprises to the Housing Trust Fund and Capital Magnet Fund created by HERA. Specifically, the rule implements a statutory prohibition against the Enterprises passing the cost of such allocations through to the originators of loans the Enterprises purchase or securitize. The regulation was issued on March 26 to finalize and continue an interim final rule FHFA first issued on December 16, 2014. Federal Home Loan Bank Capital Stock and Capital Plans 80 FR 12753; 12 CFR Part 1277 March 11 This regulation transfers existing parts 931 and 933 of the Finance Board regulations, which address requirements for FHLBank capital stock and capital plans, to new Part 1277 of the FHFA regulations. The regulation did not make any substantive changes to these requirements. The regulation went into effect on April 10. REPORT TO <strong>CONGRESS</strong> • 2015 57
Page 1 and 2:
2015 Report to Congress FEDERAL HOU
Page 3 and 4:
Federal Housing Finance Agency 400
Page 5 and 6:
T A B L E O F C O N T E N T S F I G
Page 7 and 8:
C O N S E R V A T O R S H I P S O F
Page 9 and 10:
C O N S E R V A T O R S H I P S O F
Page 11 and 12: C O N S E R V A T O R S H I P S O F
Page 19 and 20: SUPERVISION AND OVERSIGHT Examinati
Page 21 and 22: SUPERVISION AND OVERSIGHT losses. E
Page 23 and 24: SUPERVISION AND OVERSIGHT a sweep o
Page 25 and 26: SUPERVISION AND OVERSIGHT drawn. As
Page 27 and 28: SUPERVISION AND OVERSIGHT 2015 Quar
Page 29 and 30: SUPERVISION AND OVERSIGHT In 2015,
Page 31 and 32: SUPERVISION AND OVERSIGHT Some FHLB
Page 33 and 34: SUPERVISION AND OVERSIGHT basis poi
Page 35 and 36: SUPERVISION AND OVERSIGHT such as c
Page 37 and 38: SUPERVISION AND OVERSIGHT District
Page 49 and 50: SUPERVISION AND OVERSIGHT Results o
Page 51 and 52: SUPERVISION AND OVERSIGHT 2015 Regu
Page 53 and 54: SUPERVISION AND OVERSIGHT Figure 16
Page 55 and 56: SUPERVISION AND OVERSIGHT Federal H
Page 61: SUPERVISION AND OVERSIGHT Proposed
Page 65 and 66: SUPERVISION AND OVERSIGHT Policy Gu
Page 67 and 68: SUPERVISION AND OVERSIGHT Legislati
Page 69 and 70: RESEARCH AND PUBLICATIONS During 20
Page 71 and 72: RESEARCH AND C H PUBLICATIONS A P T
Page 73 and 74: F H F A O P E R A T I O N S A N D P
Page 75 and 76: F H F A O P E R A T I O N S A N D P
Page 77 and 78: F E D E R A L H O U S I N G F I N A
Page 83 and 84: A P P E N D I X : H I S T O R I C A
Page 87 and 88: Table 1b. Fannie Mae Purchases of M
Page 89 and 90: Table 3. Fannie Mae Earnings A P P
Page 91 and 92: Table 4a. Fannie Mae Total MBS Outs
Page 93 and 94: Table 5a. Fannie Mae Mortgage Asset
Page 95 and 96: End of Period Manufactured Housing
Page 97 and 98: Table 6. Fannie Mae Financial Deriv
Page 99 and 100: Table 8. Fannie Mae Mortgage Asset
Page 101 and 102: Table 10. Freddie Mac Mortgage Purc
Page 107 and 108: Table 13. Freddie Mac Balance Sheet
Page 113 and 114:
A P P E N D I X : H I S T O R I C A
Page 115 and 116:
Table 16. Freddie Mac Nonmortgage I
Page 117 and 118:
Table 18. Freddie Mac Capital a A P
Page 119 and 120:
Page 121 and 122:
Table 22. Federal Home Loan Banks A
Page 123 and 124:
Table 24. Loan Limits A P P E N D I
Page 125 and 126:
Page 127 and 128:
Federal Housing Finance Agency KEY
show all

CONGRESS

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?