The Alternative Reference Rates Committee provided a model for using the Secured Overnight Financing Rate in asset-backed securities products, including mortgage-backed securities and commercial mortgage-backed securities products.
U.S. Senate Banking Committee Ranking Member Pat Toomey (R-PA) proposed a framework to end the conservatorship of the government-sponsored enterprises.
Treasury and the Federal Housing Finance Agency agreed to amend the terms of the preferred stock purchase agreements of Fannie Mae and Freddie Mac.
The Structured Finance Association urged the Treasury Department "to avoid the potentially destructive effects" of pushing Fannie Mae and Freddie Mac out from under conservatorship prematurely.
The Alternative Rate Reference Committee Consumer Products Working Group published two guides aimed at supporting the transition from LIBOR to alternative reference rates.