WASHINGTON - The Office of Federal Housing Enterprise Oversight launched a sweeping project Thursday to formalize its regulatory authority over Fannie Mae and Freddie Mac.

Publishing a "notice of regulatory project," the agency said it plans to adopt and implement written policies covering a wide range of Fannie's and Freddie's activities, including their officers' pay and duties; standards for managing various risks such as credit and interest rates; investment limits; information security safeguards; and financial disclosures.

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