Skip navigation
Full metadata record
DC FieldValueLanguage
dc.contributor.authorWhite, Lawrence J.-
dc.contributor.authorFrame, W. Scott-
dc.date.accessioned2008-05-29T15:56:32Z-
dc.date.available2008-05-29T15:56:32Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/2451/26985-
dc.description.abstractThis paper examines two major forces that may soon increase competition in the U.S. secondary conforming mortgage market: 1) the expansion of Federal Home Loan Bank mortgage purchase programs, and 2) the adoption of revised risk-based capital requirements for large U.S. banks (Basel II). We argue that this competition is likely to reduce the growth and relative importance of Fannie Mae and Freddie Mac and hence their franchise values and effective capital. Such developments could, in turn, lead to more risky behaviors by these two GSEs. It is this last consequence that warrants greater regulatory awareness.en
dc.language.isoen_USen
dc.relation.ispartofseriesS-FI-04-01en
dc.subjectGovernment-sponsored enterprisesen
dc.subjectmortgagesen
dc.subjectsecuritizationen
dc.subjectrisk-based capitalen
dc.subjectmoral hazarden
dc.subjectcharter valueen
dc.titleEmerging Competition and Risk-Taking Incentives at Fannie Mae and Freddie Macen
dc.typeWorking Paperen
Appears in Collections:Financial Institutions

Files in This Item:
File Description SizeFormat 
S-FI-04-01.pdf387.67 kBAdobe PDFView/Open


Items in FDA are protected by copyright, with all rights reserved, unless otherwise indicated.