FHFA: Four Regulatory Focuses for 2017

first_img  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago FHFA: Four Regulatory Focuses for 2017 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Federal Home Loan Bank Directors’ Conference FHFA FHLBank Funding Mel Watt Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Federal Home Loan Bank Directors’ Conference FHFA FHLBank Funding Mel Watt 2017-05-23 Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago May 23, 2017 1,572 Views Previous: Freddie Funds $28B in Mortgages Next: Foreclosures Hit 10-Year Low, Despite April Uptick Related Articles Melvin Watt, Director of the Federal Housing Finance Agency (FHFA), spoke about the FHFA and the FHLBanks at the 2017 Federal Home Loan Bank Directors’ Conference Tuesday. He began with positive news about FHLBank performance.“Building on the financial strength of the System in 2015, the FHLBank System had its most profitable year in history last year, with net earnings of $3.4 billion,” Watt said. “This level of profitability benefited from some FHLBanks’ private-label securities litigation settlements, which contributed $952 million of the total.”According to Watt, the FHLBanks’ 2016 net income generated $392 million in Affordable Housing Program (AHP) funding, which pushed the average contribution for the last five years to over $300 million a year. These numbers, he urged, should make attendees members very comfortable about the strength of the system.Watt mentioned there were a number of regulatory issues related to the four critical and interrelated areas of FHFA’s supervision of the FHLBanks that should be focused on: funding, liquidity, capital, and large member concentrations. A main concern, heavy reliance of FHLBank short-term funding of longer-term assets, can strain the systems capacity to issue short-term debt at attractive spreads. Watt said he raised this concern at last year’s Federal Home Loan Bank Directors’ Conference.“Changes in the rules governing money market funds have been the main driver of an increase in demand for FHLBank short-term debt,” Watt said. “That increase in demand was a significant factor behind the attractive terms the FHLBanks received when financing their short-term debt during 2016.”The second priority Watt mentioned was examining FHFA’s existing FHLBank liquidity requirements in order to determine what standards should be put in place for the future.“The challenge the FHLBanks faced in issuing debt in 2008 to 2009 highlights the importance of setting the right overall liquidity standards,” Watt said. “Although the FHLBanks were able to issue short-term debt at attractive rates during that time, they were not able to issue longer-term debt at attractive rates. Of course, the challenge is always deciding what liquidity standard is prudent for both normal times and times of economic stress.”Third, Watt discussed needing to ensure that the FHLBanks have adequate capital. Watt believes that there is opportunity to take advantage of new data and modeling improvements to allow FHFA to get into compliance with the Dodd-Frank Act’s requirement to remove references to or reliance on ratings from the Nationally Recognized Statistical Rating Organizations.“The new Rule will not prohibit the FHLBanks from using these ratings as part of their own methods to assess the credit risk of assets,” said Watt. “Again, our obligation is to ensure that the FHLBanks hold sufficient capital to operate safely and soundly through good times and bad.”Lastly, Watt highlighted that the FHFA will be looking at each of FHLBank’s policies and practices regarding large member borrowing in order to ensure that each FHLBank is pricing their advances to large members appropriately. If a large member decreases demand for advances or is unable to repay its advances, Watt wants to make sure the proper contingency plans are in place.“FHFA is continuing to consider ways to address concerns regarding funding, liquidity, capital, and large member concentrations, as well as other issues, to ensure the stability of the FHLBank System,” concluded Watt. “As always, we will carry out this work in a transparent manner, and we look forward to working with you to do so.” Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agocenter_img Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / FHFA: Four Regulatory Focuses for 2017 Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brianna Gilpin in Daily Dose, Events, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Let’s give them something to crow about

first_imgLatest Stories Next UpBetween storytelling concerts, we decided to follow what had been a light breakfast with a light lunch at a place new to us, Chicken Salad Chick.As best we could tell, the menu included chicken salad laced with everything except possum and collard greens. We all opted for a cup of potato soup and a scoop of Fancy Nancy, a cautious chicken salad choice with grapes, apples and pecans.The restaurant was cute, definitely a chic place with its dollhouse atmosphere. However, several men were seated and that was all right. Not all men eat buffalo and black beans. For a while we savored the lunch with sweet tea and lively conversation. Before we left, Net decided to take a trip to the powder room. She returned with a glowing report.“The restrooms are apropos,” she said. “The first two are posted ‘Chic’ and ‘Chic.’ The last one is ‘Chic Magnet.’”How cleaver.“On the wall, there are four signs, cute signs,” she said. She didn’t say apropos again but it was understood. “One sign says, ‘Sugah, don’t ya think ya’d feel betta if ya had on a little lipstick?’” Email the author Book Nook to reopen Pike County Sheriff’s Office offering community child ID kits Let’s give them something to crow about You Might Like State’s chickens have come home to roost The first regular legislative session of the quadrennium has begun. Legislators have arrived in Montgomery for their three and a… read more Mama said old folks ought to stay at home.I say amen to that. And, amen, again, the reason being …Several of us went to a storytelling festival in Huntsville last weekend. Plans underway for historic Pike County celebration Print Articlecenter_img We laughed at that. The other sign said something about mayonnaise and money but Net couldn’t remember exactly what, and she remembered nothing about the other two signs.Mernie and I decided to go “chick” it out.She took one chic door and I took the other.When I pushed opened the door, there stood, bolt upright … a Chic Magnet.If I had been a mouse, I would have squeaked. 
But instead, I bolted over and pushed passed Mernie as she was closing her Chic door.“What are you doing? Why are you coming in here?” Mernie squawked.“Because there’s a chic magnet in there!” I said putting the emphasis on “chic magnet.”“What’s he doing in there?”“Well, what do you think?”I stood there, passing the time by reading the sign on the door: Employees must wash their hands before returning to work. That was a comforting thought, not cute, but comforting.“Go on. Get out,” Mernie said.I wasn’t going back out. The chic magnet might be out there and we both would be embarrassed.  But, then, it might look rather odd for two mother hens to come clucking out the same chic door.I peeped out. The hallway was deserted. The chic magnet was nowhere to be seen. It was safe to go out.I pushed Chic door number two open and this time I did squeak.The startled chic magnet made a sound, much like a cluck and then he was gone.My feathers were ruffled but I kind of felt bad for the gentleman, who evidently was probably around about the same time Thomas Crapper was getting his first patent on the flushing toilet. The old gent had no earthly idea what a chic magnet is.Probably a lot of mature folks don’t know that.To avoid future confusion – and embarrassment –for those of us who are no longer spring chickens and not staying home, Chicken Salad Chick might want to consider using the designations, Hen, Hen and Rooster for their indoor facilities. That’s not quite as cute as Chic, Chic and Chic Magnet but “sugah, it sho won’t confuse ya.” Published 3:00 am Saturday, March 7, 2015 Troy falls to No. 13 Clemson Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthBet You’re Pretty Curious About Jaden’s Net Worth Right About Now, HuhBradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Md: Do This Immediately if You Have Diabetes (Watch) By Blood Sugar Blaster By Jaine Treadwell Remember America’s heroes on Memorial Day Sponsored Contentlast_img read more

Phase space density analysis of the outer radiation belt energetic electron dynamics

first_imgWe present an analysis of the electron phase space density in the Earth’s outer radiation belt during three magnetically disturbed periods to determine the likely roles of inward radial diffusion and local acceleration in the energization of electrons to relativistic energies. During the recovery phase of the 9 October 1990 storm and the period of prolonged substorms between 11 and 16 September 1990, the relativistic electron phase space density increases substantially and peaks in the phase space density occur in the region 4.0 < L* ∼0.8 MeV. The peaks in the phase space density are associated with prolonged substorm activity, enhanced chorus amplitudes, and predominantly low values of the ratio between the electron plasma frequency, fpe, and the electron gyrofrequency, fce (fpe/fce < ∼4). The data provide further evidence for a local wave acceleration process in addition to radial diffusion operating in the heart of the outer radiation belt. During the recovery phase of the 9 October 1990 storm the peaks are more pronounced at large M (550 MeV/G) and large Kaufmann K (0.11 G RE) than large M (700 MeV/G) and small K (0.025 G RE), which suggests that radial diffusion is more effective below about 0.7 MeV for 5.0 < L* < 5.5 during this period. At low M (M ≤ 250 MeV/G), corresponding to energies, E < ∼0.8 MeV, there is no evidence for a peak in phase space density and the data are more consistent with inward radial diffusion and losses to the atmosphere by pitch angle scattering. During the 26 August 1990 storm there is a net loss in the relativistic electron phase space density for 3.3 < L* < 6.0. At low M (M ≤ 250 MeV/G) the phase space density decreases by almost a constant factor and the gradient remains positive for all L*, but at high M (M ≥ 550 MeV/G) the decrease in phase space density is greater at larger L* and the gradient changes from positive to negative. The data show that it is possible to have inward radial diffusion at low energies and outward radial diffusion at higher energies, which would fill the outer radiation belt.last_img read more