Organization and Functions, and Seal, 73263-73265 [2012-29695]
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73263
Rules and Regulations
Federal Register
Vol. 77, No. 237
Monday, December 10, 2012
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.
FEDERAL HOUSING FINANCE BOARD
12 CFR Part 905
FEDERAL HOUSING FINANCE
AGENCY
12 CFR Part 1200
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
Office of Federal Housing Enterprise
Oversight
12 CFR Part 1700
RIN 2590–AA54
Organization and Functions, and Seal
Federal Housing Finance
Agency.
ACTION: Final rule.
AGENCY:
The Federal Housing Finance
Agency (FHFA) adopts final regulations
containing a description of its
organization and description of its seal
and logo. This rule removes comparable
existing regulations of the Federal
Housing Finance Board (Finance Board)
and the Office of Federal Housing
Enterprise Oversight (OFHEO), and
establishes new FHFA regulations.
DATES: Effective Date: December 10,
2012.
SUMMARY:
srobinson on DSK4SPTVN1PROD with
FOR FURTHER INFORMATION CONTACT:
Donna R. Ely, Associate General
Counsel, Office of the General Counsel,
(202) 649–3068 (not a toll free number),
Donna.Ely@fhfa.gov, 400 Seventh Street
SW., Eighth Floor, Washington, DC
20024. The telephone number for the
Telecommunications Device for the
Hearing Impaired is (800) 877–8339.
SUPPLEMENTARY INFORMATION:
I. Background
Effective July 30, 2008, Division A of
the Housing and Economic Recovery
VerDate Mar<15>2010
16:08 Dec 07, 2012
Jkt 229001
Act of 2008 (HERA), Public Law 110–
289, 122 Stat. 2654 (2008), titled the
Federal Housing Finance Regulatory
Reform Act of 2008, amended the
Federal Housing Enterprises Financial
Safety and Soundness Act of 1992 (12
U.S.C. 4501 et seq.) (Safety and
Soundness Act) and created FHFA as an
independent agency of the Federal
Government. HERA provided for the
abolishment of the Office of Federal
Housing Enterprise Oversight (OFHEO)
and the Federal Housing Finance Board
(Finance Board) one year after the date
of enactment. Those agencies, together
with the Housing and Urban
Development Enterprise mission staff,
were combined to establish FHFA.
FHFA was established to oversee the
prudential operations of the Federal
National Mortgage Association (Fannie
Mae), the Federal Home Loan Mortgage
Corporation (Freddie Mac) (together,
Enterprises), and the Federal Home
Loan Banks (Banks); and to ensure that
they operate in a safe and sound
manner, remain adequately capitalized,
foster liquid, efficient, competitive and
resilient national housing finance
markets, comply with the Safety and
Soundness Act and their respective
authorizing statutes, as well as all rules,
regulations, guidelines and orders under
those statutes, and carry out their
missions through activities that are
authorized by their respective statutes
and are consistent with the public
interest. FHFA also has regulatory
authority over the Federal Home Loan
Bank System’s Office of Finance under
section 1311(b)(2) of the Safety and
Soundness Act (12 U.S.C. 4511(b)(2)).
II. Description of the Regulation
The rule sets forth FHFA’s business
address and hours of operation.
The rule also informs the public about
FHFA’s organization and structure,
including the Office of the Director, the
Division of Enterprise Regulation, the
Division of Housing Mission and Goals,
the Division of Federal Home Loan Bank
Regulation, the Office of Inspector
General, the Office of General Counsel,
the Office of the Ombudsman, and the
Office of Minority and Women
Inclusion.
The rule describes and depicts
FHFA’s official logo and seal.
FHFA is removing the comparable
regulations of the Finance Board and
OFHEO, 12 CFR part 905 of the Finance
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Fmt 4700
Sfmt 4700
Board regulations and 12 CFR part 1700
of the OFHEO regulations.
II. Regulatory Impact
Paperwork Reduction Act
This final rule does not contain any
information collection requirements that
require the approval of the Office of
Management and Budget under the
Paperwork Reduction Act (44 U.S.C.
3501 et seq.).
Regulatory Flexibility Act
Because no notice of proposed
rulemaking is required for this
regulation, the provisions of the
Regulatory Flexibility Act (5 U.S.C. 601
et seq.) do not apply. See 5 U.S.C. 601(2)
and 603(a).
Administrative Procedure Act
In promulgating this regulation, FHFA
has determined that notice and public
comment are not necessary. Section
553(b)(A) of title 5, United States Code,
provides that when regulations involve
matters of agency organization,
procedure or practice, the agency may
publish regulations in final form. In
addition, FHFA finds, in accordance
with 5 U.S.C. 553(d), that a delayed
effective date is unnecessary.
Accordingly, these regulations are
effective upon publication.
List of Subjects
12 CFR Part 905
Federal home loan banks,
Organization and functions
(Government agencies).
12 CFR Part 1200
Organization and functions
(Government agencies), Seals and
insignia.
12 CFR Part 1700
Organization and functions
(Government agencies).
Authority and Issuance
Accordingly, for the reasons stated in
the Supplementary Information, under
the authority of 12 U.S.C. 4526, 12
U.S.C. 4512, and 5 U.S.C. 552, FHFA
amends Chapters IX, XII, and XVII of
title 12 of the Code of Federal
Regulations as follows:
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73264
Federal Register / Vol. 77, No. 237 / Monday, December 10, 2012 / Rules and Regulations
consistent with the Safety and
Soundness Act, their respective
authorizing statutes, and the public
interest. FHFA’s costs and expenses are
funded by annual assessments paid by
the regulated entities. FHFA is headed
by a director, who is appointed by the
President and confirmed by the Senate
for a five-year term.
(b) Location. FHFA’s headquarters is
located at 400 Seventh Street SW.,
Washington, DC 20024. FHFA’s official
hours of business are 8:00 a.m.–5 p.m.
(Eastern Time), Monday through Friday,
excluding Federal holidays.
Chapter IX—Federal Housing Finance
Board
PART 905—[REMOVED]
■
1. Remove part 905.
Chapter XII—Federal Housing Finance
Agency
Subchapter A—Organization and
Operations
2. Add part 1200 to subchapter A to
read as follows:
■
PART 1200—ORGANIZATION AND
FUNCTIONS
Sec.
1200.1 Federal Housing Finance Agency.
1200.2 Organization of the Federal Housing
Finance Agency.
1200.3 Official logo and seal.
Authority: 5 U.S.C. 552, 12 U.S.C. 4512, 12
U.S.C. 4526.
srobinson on DSK4SPTVN1PROD with
§ 1200.1
Federal Housing Finance Agency.
(a) Scope and authority. The Federal
Housing Finance Agency (FHFA) is an
independent agency of the Federal
Government. Division A of the Housing
and Economic Recovery Act of 2008,
Public Law 110–289, 122 Stat. 2654,
titled the Federal Housing Finance
Regulatory Reform Act of 2008,
amended the Federal Housing
Enterprises Financial Safety and
Soundness Act of 1992 (12 U.S.C. 4501
et seq.) (Safety and Soundness Act) and
the Federal Home Loan Bank Act (12
U.S.C. 1421–1449) to establish FHFA.
FHFA administers the Safety and
Soundness Act and the regulated
entities’ authorizing statutes: the
Federal Home Loan Bank Act, the
Federal National Mortgage Association
Charter Act, and the Federal Home Loan
Mortgage Corporation Act. FHFA is
responsible for the supervision and
regulation of the Federal National
Mortgage Corporation (Fannie Mae), the
Federal Home Loan Mortgage
Corporation (Freddie Mac), (together,
Enterprises), the Federal Home Loan
Banks (Banks) (collectively, the
‘‘regulated entities’’), and the Office of
Finance (OF). FHFA is charged with
ensuring that the regulated entities:
Operate in a safe and sound manner,
including maintaining adequate capital
and internal controls; foster liquid,
efficient, competitive, and resilient
national housing finance markets;
comply with the Safety and Soundness
Act and their respective authorizing
statutes, and rules, regulations and
orders issued under the Safety and
Soundness Act and the authorizing
statutes; and carry out their respective
statutory missions through activities
and operations that are authorized and
VerDate Mar<15>2010
16:08 Dec 07, 2012
Jkt 229001
§ 1200.2 Organization of the Federal
Housing Finance Agency.
(a) Director. The Director is
responsible for overseeing the
prudential operations of each regulated
entity, and for ensuring that each
regulated entity: Operates in a safe and
sound manner; operates and acts to
foster liquid, efficient, competitive, and
resilient national housing financing
markets; complies with the Safety and
Soundness Act, its authorizing statute,
and rules, regulations, guidelines, and
orders issued under those statutes;
carries out its mission only through
activities that are authorized by statute;
and acts and operates consistent with
the public interest. The Director may
delegate to FHFA officers and
employees any of the functions, powers,
and duties of the Director as the Director
considers appropriate. The Director
manages FHFA, including through
authorities delegated to FHFA officers
and employees.
(b) Deputy Director of the Division of
Enterprise Regulation. The Deputy
Director is responsible for managing
FHFA’s program of prudential
supervision of the Enterprises. The
Deputy Director provides management
oversight, direction, and support for all
examination activity involving the
Enterprises, the development of
supervision findings, and preparation of
the annual reports of examination. The
Deputy Director provides support and
advice to the Director and other senior
executives and represents the division
on significant and emerging supervisory
issues and development of FHFA
supervisory policy, and has such other
responsibilities as the Director may
prescribe.
(c) Deputy Director of the Division of
Housing Mission and Goals. The Deputy
Director is responsible for FHFA policy
development and analysis, oversight of
housing and regulatory policy, and
oversight of the mission and goals of the
Enterprises. The Deputy Director
oversees and coordinates FHFA
activities regarding data analysis,
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Frm 00002
Fmt 4700
Sfmt 4700
market surveillance, policy
development, policy research and
analysis affecting housing finance and
financial markets, and policy analysis
and research in support of FHFA’s
mission and the Director’s
responsibilities as a member of the
Federal Housing Finance Oversight
board, the Financial Stability Oversight
Board, and the Financial Stability
Oversight Council, and has such other
responsibilities as the Director may
prescribe.
(d) Deputy Director of the Division of
Federal Home Loan Bank Regulation.
The Deputy Director is responsible for
managing FHFA’s program of prudential
supervision of the Banks and the OF.
The Deputy Director provides
management oversight, direction and
support for all examination activity
involving the Banks, the development of
supervision findings, and preparation of
the annual reports of examination. The
Deputy Director provides support and
advice to the Director and other senior
executives and represents the division
on significant and emerging supervisory
issues and development of FHFA
supervisory policy, and has such other
responsibilities as the Director may
prescribe.
(e) Offices and functions—(1) Office
of the Director. The Office of the
Director supports the activities of the
Director and includes Offices as the
Director may create within the Office of
the Director.
(2) Division of Enterprise Regulation.
The division supports and implements
the responsibilities of the Deputy
Director described in paragraph (b) of
this section. The division oversees and
directs all Enterprise supervisory
activities, develops examination
findings, prepares reports of
examination, and prepares the sections
of the Annual Report to Congress that
describe the condition and performance
of each Enterprise. The division
monitors and assesses the financial
condition and performance of the
Enterprises. By means of annual
examinations and a continuous on-site
presence, the division monitors and
assesses the amount of risk each
Enterprise assumes, the quality of risk
management, and compliance with
regulations.
(3) Division of Housing Mission and
Goals. The division supports and
implements the responsibilities of the
Deputy Director described in paragraph
(c) of this section. In support of FHFA’s
mission and the Director’s
responsibilities as a member of the
Federal Housing Finance Oversight
Board, the Financial Stability Oversight
Board, and the Financial Stability
E:\FR\FM\10DER1.SGM
10DER1
Oversight Committee, the division also
oversees and coordinates FHFA
activities that involve certain data
analysis, and analysis affecting housing
finance and financial markets.
(4) Division of Federal Home Loan
Bank Regulation. The division supports
and implements the responsibilities of
the Deputy Director described in
paragraph (d) of this section, including
overseeing and directing all Bank
supervisory activities, developing
examination findings, preparing reports
of examination, and preparing the
sections of the annual report to Congress
that describe the condition and
performance of the Banks. The division
monitors and assesses the financial
condition and performance of the Banks
and the OF and monitors and assesses
their compliance with regulations, the
amount of risk they assume, and the
quality of their risk management
through annual on-site examinations,
periodic visits, and ongoing off-site
monitoring and analysis.
(5) Office of Inspector General. The
office is headed by a presidentially
appointed and Senate-confirmed
Inspector General who serves under the
general supervision of the Director. The
office carries out activities and
responsibilities established in the
Inspector General Act of 1978.
(6) Office of General Counsel. The
office advises and supports the Director
and FHFA staff on legal matters related
to the functions, activities, and
operations of FHFA and the regulated
entities; it supports supervision
functions, development and
promulgation of regulations and orders,
and enforcement actions. The office
manages the Freedom of Information,
Privacy Act and ethics programs. The
Designated Agency Ethics Official
advises, counsels, and trains FHFA
employees on ethical standards and
conflicts of interest, and manages the
agency’s financial disclosure program.
(7) Office of the Ombudsman. The
office is responsible for considering
complaints and appeals from the
regulated entities, the OF and any
person that has a business relationship
with a regulated entity or the OF
concerning any matter relating to
FHFA’s regulation and supervision of
that entity or the OF.
(8) Office of Minority and Women
Inclusion. The office is responsible for
all matters of FHFA relating to diversity
in management, employment, and
business activities, and for supervising
the diversity requirements applicable to
the regulated entities and the OF.
(f) Other Offices and Departments.
The Director may from time to time
establish other Offices and Divisions of
VerDate Mar<15>2010
16:08 Dec 07, 2012
Jkt 229001
the agency as the Director deems
necessary or appropriate to carry out
FHFA’s mission, such as an Office of
Conservatorship Operations during such
period as regulated entities are under
FHFA’s conservatorship; an Office of
Strategic Initiatives to manage such
strategic initiatives as the Director may
identify; and a Division of Supervision
Policy and Support to facilitate
consistent supervision and examination
policies across all regulated entities.
The Director may also establish other
Offices and positions as the Director
deems necessary and appropriate to
support the operations of a federal
agency, such as a Chief Operating
Officer, a Chief Financial Officer, an
Office of Information Technology, and
such other offices, departments, and
positions as are necessary and
appropriate or may be required by
statute.
(g) Additional information. Current
information on the organization of
FHFA may be obtained by mail from the
Office of Congressional Affairs and
Communications, 400 Seventh Street,
SW., Washington, DC 20024. Such
information, as well as other FHFA
information, also may be obtained
electronically by accessing FHFA’s Web
site located at www.FHFA.gov.
§ 1200.3
Official logo and seal.
This section describes and displays
the logo adopted by the Director as the
official symbol representing FHFA. It is
displayed on correspondence, selected
documents, and signage. The logo serves
as the official seal to certify and
authenticate official documents of the
agency.
(a) Description. The logo is a disc
consisting of three polygons each drawn
in a manner resembling a silhouette of
a pitched roof house and with
distinctive eaves under its roof. Each
polygon is placed one in front of the
other, two of which are diminished in
size from the polygon behind it. Placed
in the center of the smallest polygon is
the acronym for the organization,
‘‘FHFA.’’ The polygons are encircled by
a designation scroll having an outer and
inner border of plain heavy lines and
containing the words ‘‘FEDERAL
HOUSING FINANCE AGENCY’’ in
capital letters with serifs, with two
mullets on the extreme left and right of
the scroll.
(b) Display. FHFA’s official logo and
seal appears below:
PO 00000
Chapter XVII—Office of Federal Housing
Enterprise Oversight, Department of
Housing and Urban Development
PART 1700—[REMOVED]
■
3. Remove part 1700.
Dated: December 3, 2012.
Edward J. DeMarco,
Acting Director, Federal Housing Finance
Agency.
[FR Doc. 2012–29695 Filed 12–7–12; 8:45 am]
BILLING CODE 8070–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2008–1243; Directorate
Identifier 2007–SW–03–AD; Amendment 39–
17267; AD 2012–23–11]
RIN 2120–AA64
Airworthiness Directives; Erickson AirCrane Incorporated Helicopters
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
AGENCY:
We are adopting a new
airworthiness directive (AD) for
Erickson Air-Crane Incorporated
(Erickson) Model S–64F helicopters.
This AD requires inspecting for cracking
or working rivets in each left and right
splice fitting (transition fitting), the
pylon bulkhead assembly-canted
(bulkhead assembly), and the pylon
steel strap (strap). This AD was
prompted by several reports of cracking
in the transition fittings, the bulkhead
assembly, and the pylon. The actions
specified by this AD are intended to
detect cracking in the rotary rudder
boom or pylon due to fatigue, and to
prevent failure from static overload and
subsequent loss of control of the
helicopter.
SUMMARY:
DATES:
This AD is effective January 14,
2013.
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srobinson on DSK4SPTVN1PROD with
Federal Register / Vol. 77, No. 237 / Monday, December 10, 2012 / Rules and Regulations
Agencies
[Federal Register Volume 77, Number 237 (Monday, December 10, 2012)]
[Rules and Regulations]
[Pages 73263-73265]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-29695]
========================================================================
Rules and Regulations
Federal Register
________________________________________________________________________
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.
========================================================================
Federal Register / Vol. 77, No. 237 / Monday, December 10, 2012 /
Rules and Regulations
[[Page 73263]]
FEDERAL HOUSING FINANCE BOARD
12 CFR Part 905
FEDERAL HOUSING FINANCE AGENCY
12 CFR Part 1200
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of Federal Housing Enterprise Oversight
12 CFR Part 1700
RIN 2590-AA54
Organization and Functions, and Seal
AGENCY: Federal Housing Finance Agency.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Federal Housing Finance Agency (FHFA) adopts final
regulations containing a description of its organization and
description of its seal and logo. This rule removes comparable existing
regulations of the Federal Housing Finance Board (Finance Board) and
the Office of Federal Housing Enterprise Oversight (OFHEO), and
establishes new FHFA regulations.
DATES: Effective Date: December 10, 2012.
FOR FURTHER INFORMATION CONTACT: Donna R. Ely, Associate General
Counsel, Office of the General Counsel, (202) 649-3068 (not a toll free
number), Donna.Ely@fhfa.gov, 400 Seventh Street SW., Eighth Floor,
Washington, DC 20024. The telephone number for the Telecommunications
Device for the Hearing Impaired is (800) 877-8339.
SUPPLEMENTARY INFORMATION:
I. Background
Effective July 30, 2008, Division A of the Housing and Economic
Recovery Act of 2008 (HERA), Public Law 110-289, 122 Stat. 2654 (2008),
titled the Federal Housing Finance Regulatory Reform Act of 2008,
amended the Federal Housing Enterprises Financial Safety and Soundness
Act of 1992 (12 U.S.C. 4501 et seq.) (Safety and Soundness Act) and
created FHFA as an independent agency of the Federal Government. HERA
provided for the abolishment of the Office of Federal Housing
Enterprise Oversight (OFHEO) and the Federal Housing Finance Board
(Finance Board) one year after the date of enactment. Those agencies,
together with the Housing and Urban Development Enterprise mission
staff, were combined to establish FHFA. FHFA was established to oversee
the prudential operations of the Federal National Mortgage Association
(Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac)
(together, Enterprises), and the Federal Home Loan Banks (Banks); and
to ensure that they operate in a safe and sound manner, remain
adequately capitalized, foster liquid, efficient, competitive and
resilient national housing finance markets, comply with the Safety and
Soundness Act and their respective authorizing statutes, as well as all
rules, regulations, guidelines and orders under those statutes, and
carry out their missions through activities that are authorized by
their respective statutes and are consistent with the public interest.
FHFA also has regulatory authority over the Federal Home Loan Bank
System's Office of Finance under section 1311(b)(2) of the Safety and
Soundness Act (12 U.S.C. 4511(b)(2)).
II. Description of the Regulation
The rule sets forth FHFA's business address and hours of operation.
The rule also informs the public about FHFA's organization and
structure, including the Office of the Director, the Division of
Enterprise Regulation, the Division of Housing Mission and Goals, the
Division of Federal Home Loan Bank Regulation, the Office of Inspector
General, the Office of General Counsel, the Office of the Ombudsman,
and the Office of Minority and Women Inclusion.
The rule describes and depicts FHFA's official logo and seal.
FHFA is removing the comparable regulations of the Finance Board
and OFHEO, 12 CFR part 905 of the Finance Board regulations and 12 CFR
part 1700 of the OFHEO regulations.
II. Regulatory Impact
Paperwork Reduction Act
This final rule does not contain any information collection
requirements that require the approval of the Office of Management and
Budget under the Paperwork Reduction Act (44 U.S.C. 3501 et seq.).
Regulatory Flexibility Act
Because no notice of proposed rulemaking is required for this
regulation, the provisions of the Regulatory Flexibility Act (5 U.S.C.
601 et seq.) do not apply. See 5 U.S.C. 601(2) and 603(a).
Administrative Procedure Act
In promulgating this regulation, FHFA has determined that notice
and public comment are not necessary. Section 553(b)(A) of title 5,
United States Code, provides that when regulations involve matters of
agency organization, procedure or practice, the agency may publish
regulations in final form. In addition, FHFA finds, in accordance with
5 U.S.C. 553(d), that a delayed effective date is unnecessary.
Accordingly, these regulations are effective upon publication.
List of Subjects
12 CFR Part 905
Federal home loan banks, Organization and functions (Government
agencies).
12 CFR Part 1200
Organization and functions (Government agencies), Seals and
insignia.
12 CFR Part 1700
Organization and functions (Government agencies).
Authority and Issuance
Accordingly, for the reasons stated in the Supplementary
Information, under the authority of 12 U.S.C. 4526, 12 U.S.C. 4512, and
5 U.S.C. 552, FHFA amends Chapters IX, XII, and XVII of title 12 of the
Code of Federal Regulations as follows:
[[Page 73264]]
Chapter IX--Federal Housing Finance Board
PART 905--[REMOVED]
0
1. Remove part 905.
Chapter XII--Federal Housing Finance Agency
Subchapter A--Organization and Operations
0
2. Add part 1200 to subchapter A to read as follows:
PART 1200--ORGANIZATION AND FUNCTIONS
Sec.
1200.1 Federal Housing Finance Agency.
1200.2 Organization of the Federal Housing Finance Agency.
1200.3 Official logo and seal.
Authority: 5 U.S.C. 552, 12 U.S.C. 4512, 12 U.S.C. 4526.
Sec. 1200.1 Federal Housing Finance Agency.
(a) Scope and authority. The Federal Housing Finance Agency (FHFA)
is an independent agency of the Federal Government. Division A of the
Housing and Economic Recovery Act of 2008, Public Law 110-289, 122
Stat. 2654, titled the Federal Housing Finance Regulatory Reform Act of
2008, amended the Federal Housing Enterprises Financial Safety and
Soundness Act of 1992 (12 U.S.C. 4501 et seq.) (Safety and Soundness
Act) and the Federal Home Loan Bank Act (12 U.S.C. 1421-1449) to
establish FHFA. FHFA administers the Safety and Soundness Act and the
regulated entities' authorizing statutes: the Federal Home Loan Bank
Act, the Federal National Mortgage Association Charter Act, and the
Federal Home Loan Mortgage Corporation Act. FHFA is responsible for the
supervision and regulation of the Federal National Mortgage Corporation
(Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac),
(together, Enterprises), the Federal Home Loan Banks (Banks)
(collectively, the ``regulated entities''), and the Office of Finance
(OF). FHFA is charged with ensuring that the regulated entities:
Operate in a safe and sound manner, including maintaining adequate
capital and internal controls; foster liquid, efficient, competitive,
and resilient national housing finance markets; comply with the Safety
and Soundness Act and their respective authorizing statutes, and rules,
regulations and orders issued under the Safety and Soundness Act and
the authorizing statutes; and carry out their respective statutory
missions through activities and operations that are authorized and
consistent with the Safety and Soundness Act, their respective
authorizing statutes, and the public interest. FHFA's costs and
expenses are funded by annual assessments paid by the regulated
entities. FHFA is headed by a director, who is appointed by the
President and confirmed by the Senate for a five-year term.
(b) Location. FHFA's headquarters is located at 400 Seventh Street
SW., Washington, DC 20024. FHFA's official hours of business are 8:00
a.m.-5 p.m. (Eastern Time), Monday through Friday, excluding Federal
holidays.
Sec. 1200.2 Organization of the Federal Housing Finance Agency.
(a) Director. The Director is responsible for overseeing the
prudential operations of each regulated entity, and for ensuring that
each regulated entity: Operates in a safe and sound manner; operates
and acts to foster liquid, efficient, competitive, and resilient
national housing financing markets; complies with the Safety and
Soundness Act, its authorizing statute, and rules, regulations,
guidelines, and orders issued under those statutes; carries out its
mission only through activities that are authorized by statute; and
acts and operates consistent with the public interest. The Director may
delegate to FHFA officers and employees any of the functions, powers,
and duties of the Director as the Director considers appropriate. The
Director manages FHFA, including through authorities delegated to FHFA
officers and employees.
(b) Deputy Director of the Division of Enterprise Regulation. The
Deputy Director is responsible for managing FHFA's program of
prudential supervision of the Enterprises. The Deputy Director provides
management oversight, direction, and support for all examination
activity involving the Enterprises, the development of supervision
findings, and preparation of the annual reports of examination. The
Deputy Director provides support and advice to the Director and other
senior executives and represents the division on significant and
emerging supervisory issues and development of FHFA supervisory policy,
and has such other responsibilities as the Director may prescribe.
(c) Deputy Director of the Division of Housing Mission and Goals.
The Deputy Director is responsible for FHFA policy development and
analysis, oversight of housing and regulatory policy, and oversight of
the mission and goals of the Enterprises. The Deputy Director oversees
and coordinates FHFA activities regarding data analysis, market
surveillance, policy development, policy research and analysis
affecting housing finance and financial markets, and policy analysis
and research in support of FHFA's mission and the Director's
responsibilities as a member of the Federal Housing Finance Oversight
board, the Financial Stability Oversight Board, and the Financial
Stability Oversight Council, and has such other responsibilities as the
Director may prescribe.
(d) Deputy Director of the Division of Federal Home Loan Bank
Regulation. The Deputy Director is responsible for managing FHFA's
program of prudential supervision of the Banks and the OF. The Deputy
Director provides management oversight, direction and support for all
examination activity involving the Banks, the development of
supervision findings, and preparation of the annual reports of
examination. The Deputy Director provides support and advice to the
Director and other senior executives and represents the division on
significant and emerging supervisory issues and development of FHFA
supervisory policy, and has such other responsibilities as the Director
may prescribe.
(e) Offices and functions--(1) Office of the Director. The Office
of the Director supports the activities of the Director and includes
Offices as the Director may create within the Office of the Director.
(2) Division of Enterprise Regulation. The division supports and
implements the responsibilities of the Deputy Director described in
paragraph (b) of this section. The division oversees and directs all
Enterprise supervisory activities, develops examination findings,
prepares reports of examination, and prepares the sections of the
Annual Report to Congress that describe the condition and performance
of each Enterprise. The division monitors and assesses the financial
condition and performance of the Enterprises. By means of annual
examinations and a continuous on-site presence, the division monitors
and assesses the amount of risk each Enterprise assumes, the quality of
risk management, and compliance with regulations.
(3) Division of Housing Mission and Goals. The division supports
and implements the responsibilities of the Deputy Director described in
paragraph (c) of this section. In support of FHFA's mission and the
Director's responsibilities as a member of the Federal Housing Finance
Oversight Board, the Financial Stability Oversight Board, and the
Financial Stability
[[Page 73265]]
Oversight Committee, the division also oversees and coordinates FHFA
activities that involve certain data analysis, and analysis affecting
housing finance and financial markets.
(4) Division of Federal Home Loan Bank Regulation. The division
supports and implements the responsibilities of the Deputy Director
described in paragraph (d) of this section, including overseeing and
directing all Bank supervisory activities, developing examination
findings, preparing reports of examination, and preparing the sections
of the annual report to Congress that describe the condition and
performance of the Banks. The division monitors and assesses the
financial condition and performance of the Banks and the OF and
monitors and assesses their compliance with regulations, the amount of
risk they assume, and the quality of their risk management through
annual on-site examinations, periodic visits, and ongoing off-site
monitoring and analysis.
(5) Office of Inspector General. The office is headed by a
presidentially appointed and Senate-confirmed Inspector General who
serves under the general supervision of the Director. The office
carries out activities and responsibilities established in the
Inspector General Act of 1978.
(6) Office of General Counsel. The office advises and supports the
Director and FHFA staff on legal matters related to the functions,
activities, and operations of FHFA and the regulated entities; it
supports supervision functions, development and promulgation of
regulations and orders, and enforcement actions. The office manages the
Freedom of Information, Privacy Act and ethics programs. The Designated
Agency Ethics Official advises, counsels, and trains FHFA employees on
ethical standards and conflicts of interest, and manages the agency's
financial disclosure program.
(7) Office of the Ombudsman. The office is responsible for
considering complaints and appeals from the regulated entities, the OF
and any person that has a business relationship with a regulated entity
or the OF concerning any matter relating to FHFA's regulation and
supervision of that entity or the OF.
(8) Office of Minority and Women Inclusion. The office is
responsible for all matters of FHFA relating to diversity in
management, employment, and business activities, and for supervising
the diversity requirements applicable to the regulated entities and the
OF.
(f) Other Offices and Departments. The Director may from time to
time establish other Offices and Divisions of the agency as the
Director deems necessary or appropriate to carry out FHFA's mission,
such as an Office of Conservatorship Operations during such period as
regulated entities are under FHFA's conservatorship; an Office of
Strategic Initiatives to manage such strategic initiatives as the
Director may identify; and a Division of Supervision Policy and Support
to facilitate consistent supervision and examination policies across
all regulated entities. The Director may also establish other Offices
and positions as the Director deems necessary and appropriate to
support the operations of a federal agency, such as a Chief Operating
Officer, a Chief Financial Officer, an Office of Information
Technology, and such other offices, departments, and positions as are
necessary and appropriate or may be required by statute.
(g) Additional information. Current information on the organization
of FHFA may be obtained by mail from the Office of Congressional
Affairs and Communications, 400 Seventh Street, SW., Washington, DC
20024. Such information, as well as other FHFA information, also may be
obtained electronically by accessing FHFA's Web site located at
www.FHFA.gov.
Sec. 1200.3 Official logo and seal.
This section describes and displays the logo adopted by the
Director as the official symbol representing FHFA. It is displayed on
correspondence, selected documents, and signage. The logo serves as the
official seal to certify and authenticate official documents of the
agency.
(a) Description. The logo is a disc consisting of three polygons
each drawn in a manner resembling a silhouette of a pitched roof house
and with distinctive eaves under its roof. Each polygon is placed one
in front of the other, two of which are diminished in size from the
polygon behind it. Placed in the center of the smallest polygon is the
acronym for the organization, ``FHFA.'' The polygons are encircled by a
designation scroll having an outer and inner border of plain heavy
lines and containing the words ``FEDERAL HOUSING FINANCE AGENCY'' in
capital letters with serifs, with two mullets on the extreme left and
right of the scroll.
(b) Display. FHFA's official logo and seal appears below:
[GRAPHIC] [TIFF OMITTED] TR10DE12.004
Chapter XVII--Office of Federal Housing Enterprise Oversight,
Department of Housing and Urban Development
PART 1700--[REMOVED]
0
3. Remove part 1700.
Dated: December 3, 2012.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. 2012-29695 Filed 12-7-12; 8:45 am]
BILLING CODE 8070-01-P