Earlier this week, FHFA continued its rulebook redo with an advisory on third-party vendor management.  The banking agencies have express statutory authority to govern third-party vendors not shared by FHFA.  However, with this advisory, the agency tries to come as close as it can to these standards.  All product-and-service providers not otherwise covered by counterparty credit-risk management requirements should thus expect a lot of new disclosures and demands from all of the GSEs.

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