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GSE HEARINGS CONTINUE.



THE THIRD IN A SERIES OF HEARINGS BEFORE the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises on strengthening regulation and promoting market discipline of the housing government-sponsored enterprises (GSEs) took place over the summer. The most recent hearing received testimony from the Treasury Department, Federal Reserve, housing GSE GSE

general somatic efferent system.
 regulators and representatives from Fannie Mae Fannie Mae: see Federal National Mortgage Association. , Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation.  and the Federal Home Loan Bank, as well as panels representing consumer and taxpayer interests. The aim of the bill, H.R. 3703, sponsored by Representative Richard H. Baker (R-Louisiana), is to shield taxpayers from the potential risk the housing GSEs pose. Representative Marge Roukema (R-New Jersey) stated her support of the bill in remarks made to the third hearing, saying "Mr. Baker has raised several issues which we need to explore carefully: potential systemic risk Systemic Risk

Risk common to a particular sector or country. Often refers to a risk resulting from a particular "system" that is in place, such as the regulator framework for monitoring of financial_institutions.
 due to the size of the housing GSEs, appropriate capital requirements Capital requirements

Financing required for the operation of a business, composed of long-term and working capital plus fixed assets.
, bank ownership of agency securities and possibl e concentration problems." Roukema added, "I want to make it clear, however, that while I endorse these oversight hearings, moving this legislation is another matter. I--as well as several other members--do not support moving this legislation forward this year.... Quick action on this would be ill advised."
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Title Annotation:government-sponsored enterprises
Publication:Mortgage Banking
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 1, 2000
Words:199
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