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US Federal Housing Financing Agency (FHFA) Director Willian J. Pulte Ordered on June 25 The fact that Fannie Mae and Freddie Mac consider cryptocurrency reserves to be eligible as assets if they measure the risk of mortgage loans for the family immediately effectively.
Two government -sponsored companies must propose plans that show how Crypto Holdings the debtor recognizes without first turning the coins into dollars.
Strict rules for collateral and supervision on the Council
The PULTE Signed Directive instructs each enterprise to limit recognition to the cryptocurrency, located in the wallets controlled by centralized US regulated exchanges.
The order also requires companies to add the risk alleviation that are responsible for market volatility and maintain reserve conditions that reflect the share of collateral held in digital assets.
In addition, each enterprise must ensure the approval of the Board of Directors before the completed proposal of the FHFA Conservatory submitted for inspection. The order is immediately effective.
Fannie Mae and Freddie Mac Buy and securitize most of the US residential mortgages. Their risk models determine the amount of capital, which must have against potential credit losses.
By permission Crypt reserves to enter these modelsPulte aims to expand information about subscription assets and “facilitate sustainable home ownership for credit debtors” according to the text of the Directive.
Framework adapted to risk
Directive Instructing each enterprise to develop an evaluation that integrates the crypto reserves into its existing credit risk framework. This assessment must describe how the company will appreciate cryptocurrency, use hairstyles and regulates for daily prices.
The Directive also requires an analysis of how crypto reserves interact with other assets and liabilities of the debtor. After approval of the Board of Directors, each company must send a FHF proposal to log out before implementation.
By provoking the powers to issue binding instructions that change subscription or capital standards, the pulte has accelerated a process that would otherwise need the creation of rules or legislative measures.
The order does not change the corresponding loan limits or documentation requirements, but expands the category of qualification reserves.
Wider national crypt policy
Counter announced the action On the same day on his social media account he wrote that he acted “in accordance with the President Donald Trump The vision of the US to become a crypto of the world in the world. ”
He added:
“Today is a historic day in the cryptocurrency industry.”
The Directive monitors the months of internal study, according to the PULTE note. The order does not specify which coins qualify. Yet the reference to the American regulated exchanges limits the funds to the tokens listed in places that are governed by the federal rules of the knowledge customer and against money laundering.
Both businesses must start working on the proposals “as soon as it is practical”. Pulte committed himself to the agency to review every plan as soon as she submits them, but did not set a public term for submission.
The Regulations remain in force if FHFA does not disappear or modify it.
