FHFA’s Capital Rule Defines Conservatorship End, Mortgage-Market Beginning
Late yesterday, FHFA issued the final version of its controversial capital rule.

Agencies Take AML Heat Off Nonprofits, Charities
Taking a long-sought step against de-risking, the banking agencies and NCUA today issued a fact sheet stating that financial institutions should judge AML and CFT risk at charities and non-profits on a tailored basis because most such organizations present low money-laundering, terrorist-financing, or sanctions-violation risk.

FRB’s Bowman: Strengthen Oversight of Nonbank Mortgage Companies
FRB Gov. Bowman today argued that nonbank mortgage servicers may present financial-stability risk given their liquidity vulnerabilities and thus require greater oversight, but did not specify any approach other than to note it should not be bank-like.

Fed Facilities Gone, But Will Not be Forgotten
Replying to growing uncertainty about the extension of Fed 13(3) facilities as well as Chairman Powell’s comments earlier this week that now is not the time to shutter them, Treasury Secretary Mnuchin today sent Mr. Powell a letter shutting most of them down.

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