FHFA Wants Banks To Handle Debt Instrument Credit Ratings

Law360, Los Angeles (May 22, 2013, 7:47 PM EDT) -- The Federal Housing Finance Agency is set to publish a proposed rule that would require 12 government-sponsored banks to determine the worthiness of debt instruments instead of credit rating agencies, which dominated the practice until the 2007-08 economic crisis.

In a filing in the Federal Register scheduled to be published Thursday, the FHFA is asking for comments over a 60-day period on new rules set to govern debt instrument ratings as it pertains to Federal Home Loan Banks, a dozen federally-sponsored lenders that provide funding to...
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