August 31, 2010 at 08:07 AM EDT
Mosler proposal for the housing agencies
Have the Fed Financing Bank fund the agencies with fixed rate amortizing term funding. Have the FFB eat the convexity and allow prepayments of advances at par as mtgs pay down. Have Congress set the FFB’s advance rate for the mtgs for public purpose. Have fed member banks originate agency mtgs on Congressionally dictated terms as agents for [...]
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