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H.R. 1225, the GSE Debt Issuance Approval Act
Washington,
April 11, 2011 -
The legislation, introduced by Rep. Steve Pearce, requires the Treasury Department to approve any new debt issuance by the GSEs. If Treasury approves a debt issuance, it must explain and justify its decision to Congress and the FHFA within seven days. The legislation limits the amount of GSE risk taking.
H.R. 1225 was approved on a vote of 18-0-1 by the Capital Markets Subcommittee on April 6, 2011.
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