Debate among members and expert witnesses centered around whether Fannie and Freddie should be considered a market utility, like the clearinghouses that underpin much of the financial system, or as systemically important financial institutions, or SIFIs, like the largest banks, two possible regulatory structures afforded by the Dodd-Frank Act.
"If Fannie and Freddie are not SIFIs, then nobody in the world is a SIFI, and if any institution is a SIFI, then so are Fannie and Freddie," said Pollock in his prepared testimony. "Addressing their systemic risk through designation as a SIFI would logically match their systemically important role and riskiness."
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I think there is. The model should be too big to fail and systemically important financial institutions. Fannie is bigger than JPMorgan Chase. Freddie is bigger than Citigroup. There is no doubt.
The MBA plan would open the door for private competitors and designate Fannie and Freddie as systemically important financial institutions. He said housing-finance reform should be a priority. The.
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FHFA’s Calabria has indicated there’s a role for FSOC to determine whether the GSEs should be considered systemically important, potentially opening up a new layer of debate. Bloomberg News "All large, systemically important financial institutions should be well capitalized," Calabria said at a housing event earlier this month, in speaking about his plans for Fannie and Freddie.
"Fannie and Freddie are clearly too big to fail. We all know it, and the 2008 bailout proved it," said Senate Banking Committee chairman mike crapo, R-Idaho, at a hearing to examine whether the GSEs should be labeled systemically important.
There’s been chatter about whether the government-sponsored enterprises should be considered systemically important. But supporters must consider that such a designation would put the Fed in charge of their supervision, a step that would do more harm than good.
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WASHINGTON- While lawmakers on both sides of the aisle agreed Tuesday that Fannie Mae and Freddie Mac are "too big to fail," they debated whether
Earlier this year, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing on Tuesday titled "Should Fannie Mae and Freddie Mac be Designated as Systemically Important.