* WASHINGTON (7/13/10)--The Federal Housing Finance Agency (FHFA) is proposing a regulation
that would create a new framework for conservatorship and receivership operations for the Federal National Mortgage Association, the Federal Home Loan Mortgage Corp., and the Federal Home Loan Banks, as contemplated by the Housing and Economic Recovery Act of 2008, according to a document published in The Federal Register
(July 9). The proposed rule will implement the provision, Authority over Critically Undercapitalized Regulated Entities, and is designed to ensure that the conservatorship and receivership operations advance FHFA’s critical safety and soundness and mission requirements. The rule also seeks to protect the public interest in increasing the transparency of conservatorship and receivership operations for Fannie Mae and Freddie Mac ... * WASHINGTON (7/13/10)--The Federal Deposit Insurance Corp. (FDIC) board voted Monday to revise a memorandum of understanding
with primary federal banking regulators to enhance FDIC’s existing backup authorities over insured depository institutions the FDIC does not directly supervise. The agreement will improve FDIC’s ability to access information to understand its exposure to insured depository institutions. Specifically, the memorandum gives FDIC backup supervision authority under an expanded list of circumstances, including when the insurance pricing system suggests an insured depository institution might be at higher risk, when institutions are defined as “large” under international regulatory guidelines or when large, interconnected bank holding companies are defined as systemic by financial reform legislation pending in Congress ...