Silicon Valley Bank failed after complications involving funding provided to the bank by the Federal Home Loan Bank system and the Federal Reserve. MBS holdings also played a role in the bank’s failure.
In a new book, James Lockhart, FHFA’s first director, outlines the events leading up to the conservatorship of Fannie Mae and Freddie Mac. More than a decade later, the events and debates are still relevant.
Information technology upgrades at Ginnie Mae can play a key role in helping transform the housing ecosystem, according to the agency’s chief information officer.
The MBS held by two failed banks will soon hit the market; specified pool trades hit record level in March; Fannie increases disclosures on multifamily MBS; LIBOR to live on in synthetic form.
Monthly business volume was up in March, and a handful of sellers grew their agency single-family production in an otherwise calamitous start to the new year. (Includes two data charts.)
Bank holding companies continued to grow their trading-account holdings of MBS and CMBS during the fourth quarter, although industry-leader Chase reduced its portfolio. (Includes data chart.)
It looks like the worst of the bank liquidity crisis could be over. And now questions are being asked: Why weren’t these banks hedged? And who bought their high-quality Treasuries and MBS?
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