Browsing: Credit risk

Mortgage

Since the Federal Housing Finance Agency launched a credit risk transfer program for Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $115 billion in credit risk to private investors, amounting to about 3.3% of unpaid principal balance, the FHFA said today.

Tax and Accounting

In light of the sudden and significant economic changes wrought by the coronavirus pandemic and public health response, FDIC Chairman Jelena McWilliams today asked the Financial Accounting Standards Board to allow banks that have begun implementing Current Expected Credit Loss methodology to postpone it, as well as to impose a CECL moratorium for banks not yet required to implement it.

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