Our recent in-depth analysis details the range of options proposed by the Financial Stability Board for MMF reform. Here, we assess what this means for Fannie, Freddie, and the FHLBs. In short, it depends on what these GSEs turn out to be but as long as they are agencies, MMF reform should ensure low-cost funding and a big edge on everyone else, many banks included.

The full report is available to subscription clients. To find out how you can sign up for the service, click here.