ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release July 26, 2005 #05-49
E-mail: [email protected]

ACB STATEMENT ON CHAIRMAN SHELBY’S GSE BILL

Press Release Tools
	E-mail This Press Release
	Printer-Friendly Format

Statement by Diane Casey-Landry, president and CEO, America’s Community Bankers, on the GSE committee print released by Senate Banking Committee Chairman Richard Shelby (R-Ala.):

America’s Community Bankers commends Chairman Shelby for producing a proposal to reform the regulation of the government sponsored enterprises that focuses on safety and soundness. ACB remains strongly supportive of GSE reform.

We are pleased that the chairman’s committee print does not raise the conforming loan limits for Fannie Mae and Freddie Mac and does not require Fannie, Freddie or the Federal Home Loan Banks to register their debt securities with the Securities and Exchange Commission under the Securities Act of 1933.

We also are pleased that the chairman’s print establishes effective procedures to evaluate Fannie and Freddie’s activities and approve new products and programs that are consistent with their mission, and focuses the enterprises on the secondary market.

ACB supports provisions to provide the new regulator with authority to limit the portfolios of Fannie and Freddie, but is concerned that the print may go a step further than is necessary in spelling out permissible asset holdings.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

-30-