06/10/2021 | Press release | Distributed by Public on 06/10/2021 08:24
Washington, D.C. - The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) on executive compensation at the regulated entities: Fannie Mae and Freddie Mac (the Enterprises) as well as the Federal Home Loan Banks (the FHLBanks). The information that FHFA is requesting will enhance the Agency's oversight of executive compensation as required by the Housing and Community Development Act of 1992 and the Housing and Economic Recovery Act of 2008.
The RFI asks 25 questions designed to enhance FHFA's ability to fulfill its statutory responsibilities to ensure that the regulated entities operate in a safe and sound manner and fulfill their statutory missions while limiting executive officers to reasonable and comparable compensation, considering relevant factors including their status as government-sponsored enterprises, their public missions, and their obligation to operate and carry out their activities in the public interest. The last time FHFA reviewed executive compensation at the Enterprises was in 2012.
'The information gathered from the RFI will help FHFA ensure transparent and appropriate executive compensation policies at the regulated entities. Compensation policies must balance the need for FHFA's regulated entities to attract and retain talent while focusing on and fulfilling their core mission responsibilities. This review will be done in a way that emphasizes safety and soundness, protects taxpayers, and enhances financial stability in the housing system,' Director Mark Calabria.
FHFA invites feedback on all aspects of the RFI within 60 days of publication, no later than August 9, 2021. Comments should be submitted electronically or via mail to the Federal Housing Finance Agency, Office of the Director, 400 7th Street, S.W., 10th floor, Washington, D.C., 20219.