NAR Comment Letter to FHFA Regarding Resolution Planning Proposed Rule

On MArch 9 NAR sent a letter to FHFA Director Mark Calabria. The letter in responds to the notice of proposed rulemaking (proposed rule), Resolution Planning (RIN 2590-AB13). NAR appreciates the efforts by the FHFA to establish a safe and sound framework for the enterprises to perform their charter duties throughout the solvency resolution process. However, NAR believes that the enterprises would be better supported to meet their charter duties if designated Systemically Important Financial Market Utilities (SIFMUs). Furthermore, despite recognizing their critical market function, the proposed rule assumes a limited or no government support in a crisis.