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Washington
Inside Washington (09/07/2009)
* WASHINGTON (9/8/09)--The U.S. Small Business Administration (SBA) has raised the amount of goodwill value a lender can finance when making a loan to the buyer of a small business to $500,000 from $250,000 (American Banker Sept. 4). SBA also eliminated a provision requiring that goodwill financing can amount to no more than half of a loan value for the purchase of a small business ... * WASHINGTON (9/8/09)--Financial observers continue to speculate about the future of Fannie Mae and Freddie Mac, which were taken into conservatorship last year. Some have suggested turning the GSEs into a public utility model, allowing them to create special purpose vehicles to operate in the secondary market, or forming a good bank/bad bank structure. The Obama administration has said it would not move to change the GSEs until early 2010 (American Banker Sept. 4). The changes to Fannie and Freddie likely won’t happen fast, said John Courson, president/CEO of the Mortgage Bankers Association. Judy Kennedy, CEO of the National Association of Affordable Housing Lenders, said maybe Fannie and Freddie can’t be helped ... * WASHINGTON (9/8/09)--European countries are pushing to make bankers’ pay and bonuses a top agenda item for the Group of 20 (G-20). However, Treasury Secretary Timothy Geithner has not brought up the bonus issue; instead, he favors discussing a new international accord to increase banks’ capital (Associated Press Sept. 4). A new accord could put in place a more conservative framework of constraints on leverage in the financial sector, he said. The Obama administration has proposed stronger international standards for the reserves banks hold to cover losses. The U.S. hopes to get an international agreement on the accord by the end of next year, with implementation by the end of 2012 ...


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