Washington, D.C. – The Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac (the Enterprises), today sent a final safety and soundness regulation to the Federal Register for publication.
The safety and soundness regulation, a component of OFHEO’s Regulatory Infrastructure Project begun in July 2000, was proposed for public comment on June 21, 2002. The rule provides a stronger legal foundation, in line with Supreme Court rulings, for existing and future agency guidances. The regulation should increase public awareness of the safety and soundness standards OFHEO employs in its supervision of the Enterprises. As with other federal financial regulators, the rule also provides a central location for such guidances. The rule will be effective 30 days after publication in the Register early next week. Final language is attached along with the existing safety and soundness guidances it supports.
Stefanie Johnson (202) 649-3030