A preview of Senate and House plans this week to vote on a package that incorporates President Donald Trump's wishes on banning institutional investors from purchasing single-family homes led Bloomberg Intelligence's June 22 Washington Policy Pulse. Yet while corporate entities won't be able to purchase more than 350 homes, it's important to note for single-family REITs like Invitation Homes and AMH, the impact may be lessened by exemptions in the bill. The bill also doesn't contain language that would require build-to-rent communities from being required to divest rental communities after seven years.
We also discussed upcoming Congressional hearings on the Fintech and digital asset sectors and why Washington will likely be in a lull period for the fintech space, limiting policy risk for Visa, Mastercard and Stripe for now.
Finally, we gave a slight preview of some of the comment letters banking trade associations provided in regards to a capital requirement raising proposal called the Basel III endgame. Much of the sector hopes that the Fed will allow further capital reductions, which we currently estimate to be around $18 billion for the largest banks including JPMorgan and Bank of America.
The Bloomberg Intelligence Financial Policy weekly call is designed to provide investors an opportunity to learn about the most recent relevant policy research, information regarding forthcoming political catalysts and other on-goings within Washington DC.
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