New to You

Finally taking what was supposed to be an “interim” final rule in 2009, FHFA yesterday finalized a variation on Mark Calabria’s 2020 new-product proposal.  FHFA still has more discretion over which activities go into this process and what the market then knows about them, but the standards would nonetheless exert a lot more discipline and at least some transparency over what the GSEs can launch into the marketplace in which they still can convey a killer punch.