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Truist Financial Corp. plans to stop sales and trading of mortgage-backed securities and government-agency and Small Business Administration bonds by January.

The new regulations take effect in July and come after the agency issued new equitable housing goals days earlier.

Two housing-policy experts whose previous recommendations have been closely followed by the Biden administration are defending the Federal Home Loan Banks, raising the stakes in a debate over whether a major overhaul is needed.

The Federal Home Loan Bank system issued $37 billion in debt in the last week of March, a sharp drop-off from the $304 billion two weeks earlier, according to a person familiar with the matter.

Two-year Treasury yields slid a percentage point over three days in March, the most since 1982. Gone are the days when inflation was the main menace.

The agency added increased emphasis on loss mitigation and special purpose credit programs following heightened calls for more participation in the latter from a minority trade group.

The five-year notes benefit from overcollateralization equal to 35%, and will use the proceeds to repay a line of credit facility.

The inspector general linked the problems to staff turnover and recommended improvements to policies around documentation that the housing agency agreed to make.

Convicted former MBA Chairman Ron McCord and his Oklahoma-based company settled CapLoc's allegations that they put fraudulent loans on a funding line.

In total, around 98,000 loans with a principal balance of $31.8 billion are in the cover pools for the two new insurance-based transactions.