Fannie Mae‘s and Freddie Mac’s 2Q earnings statements reveal for the first time that FHFA on June 17 imposed a new liquidity regime akin in some respects to the banking agencies’ LCR and never-finalized NSFR along with various other liquidity and resiliency standards for GSIBs.  Combined with FHFA’s proposed capital construct, this liquidity regime raises additional challenges to GSE recapitalization.
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