The FHLBank System’s net income was off 10.4% for the full year despite a 29.5% spike in the fourth quarter. The bulk of that decline was due to lower net interest income, which dropped 10.9% in 2019. (Includes data chart.)

Treasury and FHFA say it is still “premature to comment on specific capital levels” necessary to release the GSEs from conservatorship.

The Federal Housing Finance Agency is seeking feedback on what financial requirements should be enforced for FHLB membership.

Presidential candidate Mike Bloomberg’s plan to merge the GSEs actually got the other Democratic candidates to talk about MBS.

Former Treasury official Craig Phillips joins HouseCanary.

Freddie promotes Donna Corley as EVP of single-family business.

Freddie mentioned CECL almost as a throwaway line in its earnings call, while Fannie said its CECL impact will be more substantial.

The Housing Trust Fund and the Capital Magnet Trust will receive $326.4 million and $175.8 million, respectively, for 2019.

In a plan that began at least as far back as 2016, the FHLBanks actively considered buying one of the government-sponsored enterprises. Even senior staff at Treasury and FHFA were involved.