End of GSE Conservatorship Preparation Act of 2023

Bill: 118-hr-5549
Sponsor: full_name: Rep. Ogles, Andrew [R-TN-5]
Introduced: 2023-09-18
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-09-18
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-09-18
action_desc: Introduced in House
text: <p><strong>End of GSE Conservatorship Preparation Act of 2023</strong></p><p>This bill requires the Department of the Treasury to report to Congress on the status of proposals to establish a timeline and process (1) to end the conservatorship of Fannie Mae and Freddie Mac by the Federal Housing Finance Agency, and (2) for Treasury to resolve its investment in Fannie Mae and Freddie Mac. (As a result of the financial crisis, Fannie Mae and Freddie Mac entered into a conservatorship in 2008 with the Federal Housing Finance Agency. As part of this agreement, Treasury provided funds to support the solvency of Fannie Mae and Freddie Mac.)&nbsp; &nbsp;</p><!--tinycomments|2.1|data:application/json;base64,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-->

tv_txt: I 118th CONGRESS 1st Session H. R. 5549 IN THE HOUSE OF REPRESENTATIVES September 18, 2023 Mr. Ogles introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Secretary of the Treasury to submit to the Congress completed proposals for the termination of the conservatorships of Fannie Mae and Freddie Mac, and for other purposes.

1. Short title This Act may be cited as the End of GSE Conservatorship Preparation Act of 2023 . 2. Proposals for termination of conservatorships (a) Report Not later than 30 days after the date of the enactment of this Act, the Secretary of the Treasury shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate that identifies whether— (1) the Department of the Treasury completed the proposal described in article IX of the Letter Agreement to the Amended and Restated Preferred Stock Purchase Agreement between the United States Department of the Treasury and the Federal National Mortgage Association, dated January 14, 2021, and the proposal described in article IX of the Letter Agreement to the Amended and Restated Preferred Stock Purchase Agreement between the United States Department of the Treasury and the Federal Home Loan Mortgage Corporation, dated January 14, 2021; and (2) either or both of such proposals were completed and, if so, includes such completed proposal or proposals. (b) Proposals If the report required under subsection (a) indicates that either or both of such proposals were not completed, the Secretary of the Treasury shall— (1) include in such report the latest incomplete draft or version, if any, of such incomplete proposal or proposals; and (2) not later than 90 days after the date of the enactment of this Act, complete and submit such proposal or proposals to the committees identified in subsection (a).