{"abstract":"The Federal Housing Finance Agency (FHFA) requests comment on a proposed rule that would implement four liquidity and funding requirements for Fannie Mae and Freddie Mac (the Enterprises). The 2008 financial crisis demonstrated substantial weaknesses in the liquidity positions of the Enterprises. Liquidity and funding challenges were a significant contributing factor to establishment of the conservatorships in September 2008. The proposed rule builds on the improvements made to the U.S. banking supervision framework's regulation of institutions' liquidity requirements, and on experience since the 2008 financial crisis including with the more recent 2020 COVID-19-related financial market stress. FHFA believes that a robust Enterprise liquidity framework will improve market confidence in the Enterprises' ability to fulfill their mission and provide countercyclical support to housing finance markets in times of stress, while further minimizing the likelihood that they will need further taxpayer support. FHFA envisions that an appropriate framework would incent the Enterprises to build their liquidity portfolios in good times, so that it is available to be deployed as necessary in times of stress.","action":"Notice of proposed rulemaking; request for comments.","agencies":[{"raw_name":"FEDERAL HOUSING FINANCE AGENCY","name":"Federal Housing Finance Agency","id":174,"url":"https://www.federalregister.gov/agencies/federal-housing-finance-agency","json_url":"https://www.federalregister.gov/api/v1/agencies/174","parent_id":null,"slug":"federal-housing-finance-agency"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2021/01/08/2020-28204.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"1241","title":12}],"citation":"86 FR 1306","comment_url":null,"comments_close_on":"2021-03-09","correction_of":null,"corrections":[],"dates":"Comments must be received on or before March 9, 2021.","disposition_notes":null,"docket_ids":[],"dockets":[],"document_number":"2020-28204","effective_on":null,"end_page":1326,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2021/01/08/2020-28204.xml","html_url":"https://www.federalregister.gov/documents/2021/01/08/2020-28204/enterprise-liquidity-requirements","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2020-28204?publication_date=2021-01-08","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2021-01-08/2020-28204/mods.xml","not_received_for_publication":null,"page_length":21,"page_views":{"count":1781,"last_updated":"2026-09-21 08:15:05 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2021-01-08/pdf/2020-28204.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2020-28204.pdf?1610027116","publication_date":"2021-01-08","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2021/01/08/2020-28204.txt","regulation_id_number_info":{"2590-AB09":{"issue":"202504","html_url":"https://www.federalregister.gov/regulations/2590-AB09/enterprise-liquidity-requirements","title":"Enterprise Liquidity Requirements","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202504&RIN=2590-AB09&operation=OPERATION_EXPORT_XML","priority_category":"Other Significant"}},"regulation_id_numbers":["2590-AB09"],"regulations_dot_gov_info":{"comments_count":0,"agency_id":"FHFA","document_id":"FHFA-2021-0001-0001","checked_regulationsdotgov_at":"2023-02-28T18:11:47Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":1306,"subtype":null,"title":"Enterprise Liquidity Requirements","toc_doc":"Enterprise Liquidity Requirements","toc_subject":null,"topics":["Administrative practice and procedure","Government-sponsored enterprises","Reporting and recordkeeping requirements"],"type":"Proposed Rule","volume":86}