Federal Home Loan Bank Housing Associates, Core Mission Activities and Standby Letters of Credit, 8239-8241 [2010-3612]
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8239
Rules and Regulations
Federal Register
Vol. 75, No. 36
Wednesday, February 24, 2010
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
DEPARTMENT OF AGRICULTURE
Food and Nutrition Service
7 CFR Parts 210 and 220
[FNS–2008–0033]
RIN 0584–AD65
School Food Safety Program Based on
Hazard Analysis and Critical Control
Point Principles (HACCP); Approval of
Information Collection Request
The
December 15, 2009 (74 FR 66213), final
rule implemented a legislative provision
which requires school food authorities
participating in the National School
Lunch Program (NSLP) or the School
Breakfast Program (SBP) to develop a
school food safety program for the
preparation and service of school meals
served to children. The school food
safety program must be based on the
(HACCP) system established by the
Secretary of Agriculture. The food safety
program enables schools to take
systematic action to prevent or
minimize the risk of food-borne illness
among children participating in the
NSLP and SBP. The information
collection requirements were approved
by OMB on December 30, 2009.
SUPPLEMENTARY INFORMATION:
Dated: February 4, 2010.
Julia Paradis,
Administrator, Food and Nutrition Service.
[FR Doc. 2010–3476 Filed 2–23–10; 8:45 am]
BILLING CODE 3410–30–P
AGENCY:
Food and Nutrition Service,
USDA.
ACTION: Final rule; approval of
information collection request.
The final rule entitled School
Food Safety Program Based on Hazard
Analysis and Critical Control Point
Principles (HACCP) was published on
December 15, 2009, which implemented
a legislative provision requiring school
food authorities participating in the
National School Lunch Program (NSLP)
or the School Breakfast Program (SBP)
to develop a school food safety program
for the preparation and service of school
meals served to children. The Office of
Management and Budget (OMB) cleared
the associated information collection
requirements (ICR) on November 2,
2009. This document announces
approval of the ICR.
DATES: The ICR associated with the final
rule published in the Federal Register
on December 15, 2009, at 74 FR 66213,
was approved by OMB on December 30,
2009, under OMB Control Number
0584–0550.
FOR FURTHER INFORMATION CONTACT:
Lynn Rodgers-Kuperman, Chief,
Program Analysis and Monitoring
Branch, Child Nutrition Division, Food
and Nutrition Service, USDA, 3101 Park
Center Drive, Room 640, Alexandria,
Virginia 22302, (703) 305–2600, or
Lynn.Rogers@fns.usda.gov.
SUMMARY:
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FEDERAL HOUSING FINANCE BOARD
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12 CFR Parts 926, 940 and 960
FEDERAL HOUSING FINANCE
AGENCY
12 CFR Parts 1264, 1265 and 1269
RIN 2590–AA33
Federal Home Loan Bank Housing
Associates, Core Mission Activities
and Standby Letters of Credit
AGENCY: Federal Housing Finance
Agency, Federal Housing Finance
Board.
ACTION: Final rule.
SUMMARY: The Federal Housing Finance
Agency (FHFA) is transferring
regulations of the former Federal
Housing Finance Board (Finance Board)
to the FHFA’s regulations. These
regulations address, respectively,
Federal Home Loan Bank (Bank)
housing associates, the Banks’ core
mission activities, and Bank issuance of
standby letters of credits. FHFA is not
making any substantive amendments to
these regulations, and is making only
those changes that are necessary to
accomplish the transfer and to account
for the fact that FHFA has succeeded the
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Finance Board as the regulator for the
Banks.
DATES: This rule is effective March 26,
2010.
FOR FURTHER INFORMATION CONTACT: Neil
R. Crowley, Deputy General Counsel,
202–343–1316, neil.crowley@fhfa.gov,
Office of General Counsel, Federal
Housing Finance Agency, Fourth Floor,
1700 G Street, NW., Washington, DC
20552. The telephone number for the
Telecommunications Device for the Deaf
is (800) 877–8339.
SUPPLEMENTARY INFORMATION:
I. Background
On July 30, 2008, the Housing and
Economic Recovery Act of 2008 (HERA),
Public Law 110–289, 122 Stat. 2654
(2008), became law and created FHFA
as an independent agency of the Federal
Government. Among other things,
HERA transferred to FHFA the
supervisory and oversight
responsibilities over the Banks that
formerly had been vested in the now
abolished Finance Board. The Banks
continue to operate under regulations
promulgated by the Finance Board until
such time as the existing regulations are
supplanted by regulations promulgated
by FHFA.
II. The Final Regulation
The final regulation relocates rules
addressing Bank housing associates
from part 926 of the Finance Board
regulations to part 1263 of the FHFA
regulations; the Banks’ core mission
activities from part 940 of the Finance
Board regulations to part 1265 of the
FHFA regulations and Bank issuance of
standby letters of credit from part 960 of
the Finance Board regulations to part
1269 of the FHFA regulations. This
rulemaking is part of FHFA’s efforts to
transfer the regulations of the former
Finance Board from 12 CFR chapter IX,
to 12 CFR chapter XII, which contains
the FHFA regulations. The rule also
makes conforming changes to references
to reflect the new part numbers and will
add to the new parts definitions that are
contained in part 900 of the Finance
Board regulations and are applicable to
all regulations contained in 12 CFR
chapter IX (but would not be applicable
to the regulations after they are
transferred to 12 CFR chapter XII). The
rule also changes references such as
those to the Finance Board, to conform
to statutory changes made by HERA.
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8240
Federal Register / Vol. 75, No. 36 / Wednesday, February 24, 2010 / Rules and Regulations
Authority citations in each part also are
being amended to conform to statutory
changes made by HERA. Finally, the
rulemaking will revise newly designated
1264.6(a) to update the address for
submitting appeals of a Bank’s decision
to deny an application for certification
as a housing associate. All the changes
are either technical or conforming in
nature, and no substantive changes are
being made to any requirements
contained in the regulations.
III. Notice and Public Participation
FHFA finds that good cause exists for
adopting these rule changes as a final
rule without public notice and comment
under 5 U.S.C. 553(b) because the
changes simply relocate and redesignate
existing Finance Board regulations
while making only minor technical and
conforming changes to the existing
rules. No substantive changes are being
made to the regulations. Thus, FHFA
believes that public comments are
unnecessary and would serve no
purpose. The rulemaking reflects the
fact that HERA transferred the oversight
functions of the Finance Board to the
FHFA and is part of the effort to relocate
Finance Board regulations from 12 CFR
chapter IX to 12 CFR chapter XII.
IV. Paperwork Reduction Act
The information collection contained
in the current Federal Home Loan Bank
Housing Associates regulation, has been
assigned control number 2590–0001 by
the Office of Management and Budget
(OMB). Neither the transfer of this
regulation from part 926 to part 1264
nor any of the conforming changes will
substantively or materially modify the
approved information collection. The
other regulations, and any technical or
conforming amendments being made by
this rulemaking, do not contain
collections of information pursuant to
the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.). As a
consequence, FHFA has not submitted
any information to the Office of
Management and Budget for review.
V. Regulatory Flexibility Act
12 CFR Parts 940 and 1265
Community development, Credit,
Federal home loan banks, Housing.
12 CFR Parts 960 and 1269
Community development, Credit,
Federal home loan banks, Housing,
Letters of credit.
■ For the reasons stated in the preamble,
FHFA hereby amends chapters IX and
XII, of title 12 of the Code of Federal
Regulations as follows:
CHAPTER IX—FEDERAL HOUSING
FINANCE BOARD
The final regulation applies only to
the Banks, which do not come within
the meaning of small entities as defined
in the Regulatory Flexibility Act (RFA).
See 5 U.S.C. 601(6). The final regulation
is also purely administrative in nature
and does not alter any requirements
currently applicable to the Banks.
Therefore in accordance with section
605(b) of the RFA, FHFA certifies that
this final regulation will not have
significant economic impact on a
substantial number of small entities.
PART 926—[REDESIGNATED AS PART
1264]
List of Subjects
Authority: 12 U.S.C. 1430b, 4511, 4513 and
4526.
12 CFR Parts 926 and 1264
Community development, Credit,
Federal home loan banks, Housing,
Amend:
part 950 of this chapter ....................................
§ 926.4 ..............................................................
§ 950.17(b)(2) of this chapter ...........................
§ 926.1 ..............................................................
§ 926.3(a)(1) .....................................................
§ 926.3(a)(2) .....................................................
§ 926.3(a)(3) .....................................................
§ 926.3(a)(4) .....................................................
§ 926.3(a)(5) .....................................................
part 925 of this chapter ....................................
§ 926.5(c)(3) .....................................................
1. Transfer 12 CFR part 926 from
chapter IX, subchapter D, to chapter XII,
subchapter D and redesignate as 12 CFR
part 1264.
■
PART 1264—FEDERAL HOME LOAN
BANK HOUSING ASSOCIATES
2. The authority citation for newly
redesignated part 1264 is revised to read
as follows:
■
3. Amend newly redesignated part
1264 as indicated in the table below:
■
By removing the reference to:
§ 1264.2 ..............................................................
§ 1264.3(a), Introductory text .............................
§ 1264.3(b) ..........................................................
§ 1264.3(b) ..........................................................
§ 1264.4(a) ..........................................................
§ 1264.4(b), Introductory text .............................
§ 1264.4(c)(1) .....................................................
§ 1264.4(d) ..........................................................
§ 1264.4(e) ..........................................................
§ 1264.5(b) ..........................................................
§ 1264.6(b) ..........................................................
4. In newly redesignated part 1264
revise all references to ‘‘Finance Board’’
to read ‘‘FHFA’’.
■ 5. In newly redesignated § 1264.1, add
definitions for ‘‘Act,’’ ‘‘Bank,’’ and
‘‘FHFA’’ in correct alphabetical order to
read as follows:
■
§ 1264.1
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Reporting and recordkeeping
requirements.
Definitions.
*
*
*
*
*
Act means the Federal Home Loan
Bank Act as amended (12 U.S.C. 1421
through 1449).
Bank written in title case means a
Federal Home Loan Bank established
under section 12 of the Act (12 U.S.C.
1432).
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FHFA means the Federal Housing
Finance Agency.
*
*
*
*
*
■ 6. In newly redesignated § 1264.6,
revise paragraph (a) to read as follows:
§ 1264.6
Appeals.
(a) General. Within 90 calendar days
of the date of a Bank’s decision to deny
an application for certification as a
housing associate, the applicant may
submit a written appeal to FHFA that
includes the Bank’s decision resolution
and a statement of the basis for the
appeal with sufficient facts,
information, analysis and explanation to
support the applicant’s position. Send
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And adding in its place:
part 950 of this title.
§ 1264.4.
§ 950.17(b)(2) of this title.
§ 1264.1.
§ 1264.3(a)(1).
§ 1264.3(a)(2).
§ 1264.3(a)(3).
§ 1264.3(a)(4).
§ 1264.3(a)(5).
part 1263 of this title.
§ 1264.5(c)(3).
appeals to the Deputy Director for
Federal Home Loan Bank Regulation,
Federal Housing Finance Agency, 1625
Eye Street NW., Washington DC 20006,
with a copy to the Bank.
*
*
*
*
*
CHAPTER IX—FEDERAL HOUSING
FINANCE BOARD
PART 940—[REDESIGNATED AS PART
1265]
7. Transfer 12 CFR part 940 from
chapter IX, subchapter F, to chapter XII,
subchapter D and redesignate as 12 CFR
part 1265.
■
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Federal Register / Vol. 75, No. 36 / Wednesday, February 24, 2010 / Rules and Regulations
PART 1265—CORE MISSION
ACTIVITIES
8. The authority citation for newly
redesignated part 1265 is revised to read
as follows:
■
Authority: 12 U.S.C. 1430, 1430b, 1431,
4511, 4513 and 4526.
9. Revise newly redesignated § 1265.1
to read as follows:
■
§ 1265.1
Definitions.
As used in this part:
Acquired member assets or AMA
means those assets that may be acquired
by a Bank under part 955 of this title.
Advance means a loan from a Bank
that is:
(1) Provided pursuant to a written
agreement;
(2) Supported by a note or other
written evidence of the borrower’s
obligations; and
(3) Fully secured by collateral in
accordance with the Federal Home Loan
Bank Act (12 U.S.C. 1421 through 1449)
and applicable regulations.
Bank written in title case means a
Federal Home Loan Bank established
under section 12 of the Federal Home
Loan Bank Act (12 U.S.C. 1432).
SBIC means a small business
investment company formed pursuant
to section 301 of the Small Business
Investment Act (15 U.S.C. 681).
Targeted income level means:
(1) For rural areas, incomes at or
below 115 percent of the median
income for the area, as adjusted for
family size in accordance with the
methodology of the applicable area
median income standard or, at the
option of the Bank, for a family of four;
and
(2) For urban areas, incomes at or
below 100 percent of the median
income for the area, as adjusted for
family size in accordance with the
8241
methodology of the applicable area
median income standard or, at the
option of the Bank, for a family of four.
CHAPTER IX—FEDERAL HOUSING
FINANCE BOARD
PART 960—[REDESIGNATED AS PART
1269]
10. Transfer 12 CFR part 960 from
Chapter IX, subchapter G, to Chapter
XII, subchapter D and redesignate as 12
CFR part 1269.
■
PART 1269—STANDBY LETTERS OF
CREDIT
11. The authority citation for newly
redesignated part 1269 is revised to read
as follows:
■
Authority: 12 U.S.C. 1429, 1430, 1430b,
1431, 4511, 4513 and 4526.
12. Amend part 1269 as indicated in
the table below:
■
Amend:
By removing the reference to:
And adding in its place:
§ 1269.1, Definition of SHFA associate .............
§ 1269.1, Definition of SHFA associate .............
§ 1269.2(b) ..........................................................
§ 1269.2(c)(1) .....................................................
§ 1269.3(a), Introductory text .............................
§ 1269.3(b) ..........................................................
§ 1269.4(a)(1) .....................................................
§ 926.1 ..............................................................
§ 926.3(b) .........................................................
§ 960.4(a)(2) .....................................................
§ 950.7 of this chapter .....................................
§§ 950.17(b)(1)(i) or (ii) of this chapter ............
§§ 950.17(b)(2)(i)(A), (B) or (C) of this chapter
§§ 950.17(b)(2)(i)(B), 950.17(d) or 969.2 of
this chapter.
part 950 of this chapter ....................................
§§ 960.2 or 960.3 .............................................
§§ 950.7(d), 950.7(e), 950.8, 950.9 and
950.10 of this chapter.
§ 1264.1.
§ 1264.3(b).
§ 1269.4(a)(2).
§ 950.7 of this title.
§§ 950.17(b)(1)(i) or (ii) of this title.
§§ 950.17(b)(2)(i)(A), (B) or (C) of this title.
§§ 950.17(b)(2)(i)(B), 950.17(d) or 969.2 of
this title.
part 950 of this title.
§§ 1269.2 or 1269.3.
§§ 950.7(d), 950.7(e), 950.8, 950.9 and
950.10 of this title.
§ 1269.4(c) ..........................................................
§ 1269.5(b)(1) .....................................................
§ 1269.5(b)(2) .....................................................
13. In newly redesignated § 1269.1,
add definitions for ‘‘Act,’’ ‘‘Bank,’’
‘‘Community lending,’’ and ‘‘NRSRO’’ in
correct alphabetical order to read as
follows:
■
§ 1269.1
Definitions.
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*
*
*
*
*
Act means the Federal Home Loan
Bank Act as amended (12 U.S.C. 1421
through 1449).
*
*
*
*
*
Bank written in title case means a
Federal Home Loan Bank established
under section 12 of the Act (12 U.S.C.
1432).
*
*
*
*
*
Community lending means providing
financing for economic development
projects for targeted beneficiaries, and,
for community financial institutions (as
defined in § 1263.1 of this title),
purchasing or funding small business
loans, small farm loans or small agribusiness loans (as defined in § 950.1 of
this title).
*
*
*
*
*
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NRSRO means a credit rating
organization registered with the
Securities and Exchange Commission as
a nationally recognized statistical rating
organization.
*
*
*
*
*
Dated: February 15, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance
Agency.
[FR Doc. 2010–3612 Filed 2–23–10; 8:45 am]
BILLING CODE; P
PO 00000
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 97
[Docket No. 30709 Amdt. No 3360]
Standard Instrument Approach
Procedures, and Takeoff Minimums
and Obstacle Departure Procedures;
Miscellaneous Amendments
AGENCY: Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
SUMMARY: This establishes, amends,
suspends, or revokes Standard
Instrument Approach Procedures
(SIAPs) and associated Takeoff
Minimums and Obstacle Departure
Procedures for operations at certain
airports. These regulatory actions are
needed because of the adoption of new
or revised criteria, or because of changes
occurring in the National Airspace
System, such as the commissioning of
new navigational facilities, adding new
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]]>Agencies
[Federal Register Volume 75, Number 36 (Wednesday, February 24, 2010)]
[Rules and Regulations]
[Pages 8239-8241]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-3612]
=======================================================================
-----------------------------------------------------------------------
FEDERAL HOUSING FINANCE BOARD
12 CFR Parts 926, 940 and 960
FEDERAL HOUSING FINANCE AGENCY
12 CFR Parts 1264, 1265 and 1269
RIN 2590-AA33
Federal Home Loan Bank Housing Associates, Core Mission
Activities and Standby Letters of Credit
AGENCY: Federal Housing Finance Agency, Federal Housing Finance Board.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Federal Housing Finance Agency (FHFA) is transferring
regulations of the former Federal Housing Finance Board (Finance Board)
to the FHFA's regulations. These regulations address, respectively,
Federal Home Loan Bank (Bank) housing associates, the Banks' core
mission activities, and Bank issuance of standby letters of credits.
FHFA is not making any substantive amendments to these regulations, and
is making only those changes that are necessary to accomplish the
transfer and to account for the fact that FHFA has succeeded the
Finance Board as the regulator for the Banks.
DATES: This rule is effective March 26, 2010.
FOR FURTHER INFORMATION CONTACT: Neil R. Crowley, Deputy General
Counsel, 202-343-1316, neil.crowley@fhfa.gov, Office of General
Counsel, Federal Housing Finance Agency, Fourth Floor, 1700 G Street,
NW., Washington, DC 20552. The telephone number for the
Telecommunications Device for the Deaf is (800) 877-8339.
SUPPLEMENTARY INFORMATION:
I. Background
On July 30, 2008, the Housing and Economic Recovery Act of 2008
(HERA), Public Law 110-289, 122 Stat. 2654 (2008), became law and
created FHFA as an independent agency of the Federal Government. Among
other things, HERA transferred to FHFA the supervisory and oversight
responsibilities over the Banks that formerly had been vested in the
now abolished Finance Board. The Banks continue to operate under
regulations promulgated by the Finance Board until such time as the
existing regulations are supplanted by regulations promulgated by FHFA.
II. The Final Regulation
The final regulation relocates rules addressing Bank housing
associates from part 926 of the Finance Board regulations to part 1263
of the FHFA regulations; the Banks' core mission activities from part
940 of the Finance Board regulations to part 1265 of the FHFA
regulations and Bank issuance of standby letters of credit from part
960 of the Finance Board regulations to part 1269 of the FHFA
regulations. This rulemaking is part of FHFA's efforts to transfer the
regulations of the former Finance Board from 12 CFR chapter IX, to 12
CFR chapter XII, which contains the FHFA regulations. The rule also
makes conforming changes to references to reflect the new part numbers
and will add to the new parts definitions that are contained in part
900 of the Finance Board regulations and are applicable to all
regulations contained in 12 CFR chapter IX (but would not be applicable
to the regulations after they are transferred to 12 CFR chapter XII).
The rule also changes references such as those to the Finance Board, to
conform to statutory changes made by HERA.
[[Page 8240]]
Authority citations in each part also are being amended to conform to
statutory changes made by HERA. Finally, the rulemaking will revise
newly designated 1264.6(a) to update the address for submitting appeals
of a Bank's decision to deny an application for certification as a
housing associate. All the changes are either technical or conforming
in nature, and no substantive changes are being made to any
requirements contained in the regulations.
III. Notice and Public Participation
FHFA finds that good cause exists for adopting these rule changes
as a final rule without public notice and comment under 5 U.S.C. 553(b)
because the changes simply relocate and redesignate existing Finance
Board regulations while making only minor technical and conforming
changes to the existing rules. No substantive changes are being made to
the regulations. Thus, FHFA believes that public comments are
unnecessary and would serve no purpose. The rulemaking reflects the
fact that HERA transferred the oversight functions of the Finance Board
to the FHFA and is part of the effort to relocate Finance Board
regulations from 12 CFR chapter IX to 12 CFR chapter XII.
IV. Paperwork Reduction Act
The information collection contained in the current Federal Home
Loan Bank Housing Associates regulation, has been assigned control
number 2590-0001 by the Office of Management and Budget (OMB). Neither
the transfer of this regulation from part 926 to part 1264 nor any of
the conforming changes will substantively or materially modify the
approved information collection. The other regulations, and any
technical or conforming amendments being made by this rulemaking, do
not contain collections of information pursuant to the Paperwork
Reduction Act of 1995 (44 U.S.C. 3501 et seq.). As a consequence, FHFA
has not submitted any information to the Office of Management and
Budget for review.
V. Regulatory Flexibility Act
The final regulation applies only to the Banks, which do not come
within the meaning of small entities as defined in the Regulatory
Flexibility Act (RFA). See 5 U.S.C. 601(6). The final regulation is
also purely administrative in nature and does not alter any
requirements currently applicable to the Banks. Therefore in accordance
with section 605(b) of the RFA, FHFA certifies that this final
regulation will not have significant economic impact on a substantial
number of small entities.
List of Subjects
12 CFR Parts 926 and 1264
Community development, Credit, Federal home loan banks, Housing,
Reporting and recordkeeping requirements.
12 CFR Parts 940 and 1265
Community development, Credit, Federal home loan banks, Housing.
12 CFR Parts 960 and 1269
Community development, Credit, Federal home loan banks, Housing,
Letters of credit.
0
For the reasons stated in the preamble, FHFA hereby amends chapters IX
and XII, of title 12 of the Code of Federal Regulations as follows:
CHAPTER IX--FEDERAL HOUSING FINANCE BOARD
PART 926--[REDESIGNATED AS PART 1264]
0
1. Transfer 12 CFR part 926 from chapter IX, subchapter D, to chapter
XII, subchapter D and redesignate as 12 CFR part 1264.
PART 1264--FEDERAL HOME LOAN BANK HOUSING ASSOCIATES
0
2. The authority citation for newly redesignated part 1264 is revised
to read as follows:
Authority: 12 U.S.C. 1430b, 4511, 4513 and 4526.
0
3. Amend newly redesignated part 1264 as indicated in the table below:
------------------------------------------------------------------------
By removing the And adding in its
Amend: reference to: place:
------------------------------------------------------------------------
Sec. 1264.2............... part 950 of this part 950 of this
chapter. title.
Sec. 1264.3(a), Sec. 926.4........ Sec. 1264.4.
Introductory text.
Sec. 1264.3(b)............ Sec. 950.17(b)(2) Sec. 950.17(b)(2)
of this chapter. of this title.
Sec. 1264.3(b)............ Sec. 926.1........ Sec. 1264.1.
Sec. 1264.4(a)............ Sec. 926.3(a)(1).. Sec. 1264.3(a)(1).
Sec. 1264.4(b), Sec. 926.3(a)(2).. Sec. 1264.3(a)(2).
Introductory text.
Sec. 1264.4(c)(1)......... Sec. 926.3(a)(3).. Sec. 1264.3(a)(3).
Sec. 1264.4(d)............ Sec. 926.3(a)(4).. Sec. 1264.3(a)(4).
Sec. 1264.4(e)............ Sec. 926.3(a)(5).. Sec. 1264.3(a)(5).
Sec. 1264.5(b)............ part 925 of this part 1263 of this
chapter. title.
Sec. 1264.6(b)............ Sec. 926.5(c)(3).. Sec. 1264.5(c)(3).
------------------------------------------------------------------------
0
4. In newly redesignated part 1264 revise all references to ``Finance
Board'' to read ``FHFA''.
0
5. In newly redesignated Sec. 1264.1, add definitions for ``Act,''
``Bank,'' and ``FHFA'' in correct alphabetical order to read as
follows:
Sec. 1264.1 Definitions.
* * * * *
Act means the Federal Home Loan Bank Act as amended (12 U.S.C. 1421
through 1449).
Bank written in title case means a Federal Home Loan Bank
established under section 12 of the Act (12 U.S.C. 1432).
FHFA means the Federal Housing Finance Agency.
* * * * *
0
6. In newly redesignated Sec. 1264.6, revise paragraph (a) to read as
follows:
Sec. 1264.6 Appeals.
(a) General. Within 90 calendar days of the date of a Bank's
decision to deny an application for certification as a housing
associate, the applicant may submit a written appeal to FHFA that
includes the Bank's decision resolution and a statement of the basis
for the appeal with sufficient facts, information, analysis and
explanation to support the applicant's position. Send appeals to the
Deputy Director for Federal Home Loan Bank Regulation, Federal Housing
Finance Agency, 1625 Eye Street NW., Washington DC 20006, with a copy
to the Bank.
* * * * *
CHAPTER IX--FEDERAL HOUSING FINANCE BOARD
PART 940--[REDESIGNATED AS PART 1265]
0
7. Transfer 12 CFR part 940 from chapter IX, subchapter F, to chapter
XII, subchapter D and redesignate as 12 CFR part 1265.
[[Page 8241]]
PART 1265--CORE MISSION ACTIVITIES
0
8. The authority citation for newly redesignated part 1265 is revised
to read as follows:
Authority: 12 U.S.C. 1430, 1430b, 1431, 4511, 4513 and 4526.
0
9. Revise newly redesignated Sec. 1265.1 to read as follows:
Sec. 1265.1 Definitions.
As used in this part:
Acquired member assets or AMA means those assets that may be
acquired by a Bank under part 955 of this title.
Advance means a loan from a Bank that is:
(1) Provided pursuant to a written agreement;
(2) Supported by a note or other written evidence of the borrower's
obligations; and
(3) Fully secured by collateral in accordance with the Federal Home
Loan Bank Act (12 U.S.C. 1421 through 1449) and applicable regulations.
Bank written in title case means a Federal Home Loan Bank
established under section 12 of the Federal Home Loan Bank Act (12
U.S.C. 1432).
SBIC means a small business investment company formed pursuant to
section 301 of the Small Business Investment Act (15 U.S.C. 681).
Targeted income level means:
(1) For rural areas, incomes at or below 115 percent of the median
income for the area, as adjusted for family size in accordance with the
methodology of the applicable area median income standard or, at the
option of the Bank, for a family of four; and
(2) For urban areas, incomes at or below 100 percent of the median
income for the area, as adjusted for family size in accordance with the
methodology of the applicable area median income standard or, at the
option of the Bank, for a family of four.
CHAPTER IX--FEDERAL HOUSING FINANCE BOARD
PART 960--[REDESIGNATED AS PART 1269]
0
10. Transfer 12 CFR part 960 from Chapter IX, subchapter G, to Chapter
XII, subchapter D and redesignate as 12 CFR part 1269.
PART 1269--STANDBY LETTERS OF CREDIT
0
11. The authority citation for newly redesignated part 1269 is revised
to read as follows:
Authority: 12 U.S.C. 1429, 1430, 1430b, 1431, 4511, 4513 and
4526.
0
12. Amend part 1269 as indicated in the table below:
------------------------------------------------------------------------
By removing the And adding in its
Amend: reference to: place:
------------------------------------------------------------------------
Sec. 1269.1, Definition of Sec. 926.1........ Sec. 1264.1.
SHFA associate.
Sec. 1269.1, Definition of Sec. 926.3(b)..... Sec. 1264.3(b).
SHFA associate.
Sec. 1269.2(b)............ Sec. 960.4(a)(2).. Sec. 1269.4(a)(2).
Sec. 1269.2(c)(1)......... Sec. 950.7 of this Sec. 950.7 of this
chapter. title.
Sec. 1269.3(a), Sec. Sec. Sec. Sec.
Introductory text. 950.17(b)(1)(i) or 950.17(b)(1)(i) or
(ii) of this (ii) of this title.
chapter.
Sec. 1269.3(b)............ Sec. Sec. Sec. Sec.
950.17(b)(2)(i)(A), 950.17(b)(2)(i)(A),
(B) or (C) of this (B) or (C) of this
chapter. title.
Sec. 1269.4(a)(1)......... Sec. Sec. Sec. Sec.
950.17(b)(2)(i)(B), 950.17(b)(2)(i)(B),
950.17(d) or 969.2 950.17(d) or 969.2
of this chapter. of this title.
Sec. 1269.4(c)............ part 950 of this part 950 of this
chapter. title.
Sec. 1269.5(b)(1)......... Sec. Sec. 960.2 Sec. Sec. 1269.2
or 960.3. or 1269.3.
Sec. 1269.5(b)(2)......... Sec. Sec. Sec. Sec.
950.7(d), 950.7(e), 950.7(d), 950.7(e),
950.8, 950.9 and 950.8, 950.9 and
950.10 of this 950.10 of this
chapter. title.
------------------------------------------------------------------------
0
13. In newly redesignated Sec. 1269.1, add definitions for ``Act,''
``Bank,'' ``Community lending,'' and ``NRSRO'' in correct alphabetical
order to read as follows:
Sec. 1269.1 Definitions.
* * * * *
Act means the Federal Home Loan Bank Act as amended (12 U.S.C. 1421
through 1449).
* * * * *
Bank written in title case means a Federal Home Loan Bank
established under section 12 of the Act (12 U.S.C. 1432).
* * * * *
Community lending means providing financing for economic
development projects for targeted beneficiaries, and, for community
financial institutions (as defined in Sec. 1263.1 of this title),
purchasing or funding small business loans, small farm loans or small
agri-business loans (as defined in Sec. 950.1 of this title).
* * * * *
NRSRO means a credit rating organization registered with the
Securities and Exchange Commission as a nationally recognized
statistical rating organization.
* * * * *
Dated: February 15, 2010.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. 2010-3612 Filed 2-23-10; 8:45 am]
BILLING CODE; P
