FHFA’s Policy Statement Effective Today, New Comment Deadline
The Federal Register today includes FHFA’s Policy Statement on Fair Lending. As noted in our in-depth report, the policy statement ramps up the GSEs’ fair-lending and anti-discrimination obligations with significant implications for loan purchases, underwriting, pricing, and internal governance. It also orders quarterly fair-lending reports from Fannie and Freddie. Comment is now due September 7; the policy statement becomes effective today.
Global Agencies Urge Coordination Given CBDC Cross-Border Complexity
Ahead of the finance ministerial this weekend, the BIS, its Innovation Hub, the CPMI, IMF, and World Bank today issued an inconclusive report to the G20 on CBDC’s cross-border implications, stressing the importance of the G20’s roadmap for enhancing cross-border payments (see FSM Report PAYMENT21).