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FNMFO - Treasury Plan: GSEs Should Be Recapitalized 'As Promptly As Practicable'
Fed Nat Mtg Assn Pfd
The Treasury plan to recapitalize Fannie Mae (FNMA) and Freddie Mac (FMCC) is now officially out. The story here, from my vantage point, is that Treasury recommends that the GSEs should be recapitalized as promptly as possible (before legislation):
This plan is largely better than what I was expecting. “While Treasury prefers legislation, further reform should not and need not wait on Congress,” a senior Treasury official told reporters Thursday. “Treasury and FHFA should consider moving up the capital buffers, so that could be a near-term” action, the official said.