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Washington
Inside Washington (11/02/2009)
* WASHINGTON (11/3/09)--Fannie Mae and Freddie Mac will be allowed to back larger loans for another year (American Banker Nov. 2). The House and Senate approved legislation Thursday allowing the government-sponsored enterprises to guarantee loans up to $729,750 through 2010. President Barack Obama is expected to sign the legislation soon. Without the legislation, the enterprises could only guarantee loans up to $625,000, their previous limit, at year-end ... * WASHINGTON (11/3/09)--The Federal Reserve Board said it will not share the results of its latest review on industry compensation practices, citing the confidential nature of supervision (American Banker Nov. 2). The Fed reviewed compensation that targets executives and other employees of 28 large financial institutions. The Fed’s decision not to publicize the review contrasts with its focus on transparency in the financial markets, observers said. Releasing compensation data is different from publicizing which financial institutions have enough capital to weather a financial crisis, said Fed Chairman Ben Bernanke, referring to the stress tests. Gil Schwartz, former Fed lawyer, said the public has a right to know which institution’s compensation practices could affect the economy ...


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