Since the Federal Housing Finance Agency launched a credit risk transfer program for GSEs Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $81 billion in credit risk to private investors, amounting to about 3.2 percent of $2.5 trillion in unpaid principal balance, the FHFA said today. For the first half of 2018, the GSEs transferred about $12 billion worth of credit risk. Transfers included debt issuances, insurance and reinsurance transactions, senior-subordinate securitizations and several kinds of lender-collateralized recourse transactions.
Treasury official outlines principles for Bank Secrecy Act modernization
The Treasury Department is exploring ways to streamline the filing process for suspicious activity reports and currency transaction reports as part of a broader effort to modernize BSA enforcement, Deputy Secretary of the Treasury Michael Faulkender said.